Grab N' Go: Entrepreneurship Research Report, Brighton Le Sands

This comprehensive entrepreneurship research report details the business plan for Grab N' Go, a takeaway Vietnamese pork roll shop located in Brighton Le Sands, Sydney. The report encompasses a business overview, extensive market research, including plans for market entry, customer attraction strategies, and target market identification. It further analyzes the environmental factors, market trends, and potential growth opportunities. The report delves into customer behavior, customer management strategies, and a SWOT analysis to assess strengths, weaknesses, opportunities, and threats. It covers competitor analysis, advertisement and sales strategies, and outlines the mission, vision, goals, and an action plan. Financial aspects, including financial objectives, required capital, assumptions, profit and loss accounts, cash flow statements, start-up costs, projected balance sheets, and break-even analysis are also provided. The report concludes with a list of references.

Running head: ENTREPRENEURSHIP RESEARCH REPORT
Entrepreneurship Research Report
Name of the Student
Name of the University
Authors Note
Course ID

1ENTREPRENEURSHIP RESEARCH REPORT
Table of Contents
Business Overview:....................................................................................................................2
Market Research:.......................................................................................................................2
Plans to Enter in Market:........................................................................................................2
Attracting customer:...............................................................................................................2
Target Markets:......................................................................................................................2
Environmental analysis:.............................................................................................................3
Market research:.....................................................................................................................3
Market Trends:.......................................................................................................................3
Potential growth:....................................................................................................................4
Customers believe on entering in the market:........................................................................4
Customers...................................................................................................................................4
Target Customers:..................................................................................................................4
Key customers:.......................................................................................................................5
Customer management:..............................................................................................................5
Customer Satisfaction:...........................................................................................................5
Customer engagement:...........................................................................................................5
Relationship management strategies:.....................................................................................5
SWOT Analysis.........................................................................................................................6
Competitors:...............................................................................................................................6
Advertisement and sales:............................................................................................................7

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Advertisement:.......................................................................................................................7
Sales Strategy:........................................................................................................................7
Promotional strategies:...........................................................................................................7
Sales and marketing objectives:.............................................................................................8
Mission and vision statement:....................................................................................................8
Goals:.........................................................................................................................................8
Action Plan:................................................................................................................................9
Finance:......................................................................................................................................9
Financial objectives:...............................................................................................................9
Finance Required:..................................................................................................................9
Assumptions:..........................................................................................................................9
Profit and Loss Account:......................................................................................................10
Cash Flow Statement:..........................................................................................................11
Start Up Costs:.....................................................................................................................12
Projected balance sheet:.......................................................................................................12
Break-Even Analysis:...........................................................................................................13
References:...............................................................................................................................14

3ENTREPRENEURSHIP RESEARCH REPORT
Business Overview:
Grab N’ Go is a takeaway Vietnamese pork roll shop that will open as a start up with
few tables for dining purpose. The business will be located in Brighton Le Sands in Sydney
with main product and services will include numerous types of pork rolls, fresh rolls and
drinks for its probable consumers.
Market Research:
Plans to Enter in Market:
Grab n’ Go will be positioning itself as the ideal place of eating with tasty pork roll,
under a warmly service and reasonable price environment (Kuratko 2016). Grab n’ Go plans
to enter in the market by using social media, contracting famous blogger and with grand
simple cost saving strategy. Grab n’ Go will do this by offering quality home style fresh pork
rolls and drinks made with quality ingredients.
Attracting customer:
To attract the customers Grab n’ Go will provide them with quaint surrounding within
the wood tables and checkered table cloth. Grab n’ Go will provide its customers with a
relaxed atmosphere and when the customers would walk into the store they will be greeted
warmly with smiles just as they are arriving in home (Burns 2016). Grab n’ Go will maintain
a quality of food and service as this will help in appealing customers.
Target Markets:
 Grab n’ Go target market is wide range of customers that ranges from businessman,
officers, couples, families, tourists, high-end single and students.
 Grab n’ Go will target neighbourhood families of Brighton Le Sands with an average
cost of food ranging from $6.99 to $12. With reasonable and lower price these
customers would prefer the products of Grab n’ Go over the competitors.

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 High-end single students will be the part of Grab n’ Go target customers as they have
sufficient money to regularly eat outside.
 Sydney is highly attractive city for tourists and the location in Brighton Le Sands will
be advantageous for welcome tourists in summer and winter. With affordable price
and menu Grab n’ Go will be the choice for tourists when they seek an eating place.
Environmental analysis:
Market research:
The restaurant industry is regarded as diverse and large business. Sales of restaurant
industry is projected to reach $780.1 billion by 2022 with the increase of 2.5% over 2018.
The market research is based on standard industry code. It involves establishment which is
largely engaged in offering food services to consumers that order, served while seated and
pay after eating. The customer taste, demographics and income of consumer drive demand as
the profitability can vary based on effective operations and higher volume of sales (Read et
al. 2016). The Australian food industry comprises of more than 580,000 restaurants having a
combined yearly revenue of greater than $500 billion. Major participants include McDonald,
YUM Brands, Taco Bell, Olive Garden and Darden Restaurants.
Market Trends:
As per the National Restaurant Association, following are the market trends for fast food
industry in Australia;
1. Seafood and meats that are sourced locally
2. Locally grown produce
3. Sustainability as the culinary theme
4. Gluten-free allergy conscious items,
5. Sustainable seafood and nutrition as the culinary theme.

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Potential growth:
The Australian customers spending on the services as the indicator of restaurant sales,
increased by 1.8 percent in November 2018 in comparison to the same month in 2017. The
average Australian retail price for diesel and regular gas that influences the consumer
spending on eating out has increased by 13.1% in comparison to the 9.3% in 2017 (Burns and
Dewhurst 2016). The Australian tourism expenses on food service and drinking acts as the
indicator for restaurant revenues which further increased by 6.1% during the final quarter of
2019.
Customers believe on entering in the market:
The market change based on the consumer believe that Grab n’ Go meals are home
and healthier combined with high quality eating atmosphere. This may appeal the present
trends that are available in market of food and offer menu selection that will appeal to wide
range of customer group (Ansoff et al. 2018). Grab n’ Go will position itself as the premier
traditional home-style restaurant and setting itself different from the other competitors
offering same service in the market.
Customers
Target Customers:
 Generation X that spends money on food or those that prefers quick service and
casual restaurants.
 Customers ranging from the age group of 28 to 40 years that prefers eating out at least
once in every week and prioritizes fresh, natural ingredients.
 Another set of target customers are those that ranges between age group of 18 to 30
years and are not digital savvy as generation x counterparts who still pursues review
sites and social media.

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Key customers:
The key customers of Grab n’ Go are
1. Families, generation X and Baby Boomer generations
2. Larger groups and families
3. Middle-class income levels that includes urban diners with small children
4. Diners that are largely influenced by locally sourced choice of food.
5. Travel destination tourists that are very likely to eat outside with families
6. Diners that are not influenced by social media and online reviews
Customer management:
Customer Satisfaction:
Grab n’ Go has aligned itself with the needs of customers in order to recognize the
opportunities and generate customized, higher quality foods which the consumers will find it
valuable (Trigeorgis and Reuer 2017).
Customer engagement:
As the part of Grab n’ Go customer management it will constantly engage with
customers to promote repeated sales. Grab n’ Go with the help of its service will hold the
interest of customers to regularly deliver great service that can permanently cement a bond
among the Customer service management and client (Rothaermel 2016).
Relationship management strategies:
Grab n’ Go will build relationship management strategy for building a long-term
investment and returns from customers. Grab n’ Go will implement relationship management
strategies with skills and would build trust in the brand which makes the customers return for
more (Lasserre 2017). Grab n’ Go will advocate its brand through the positive word of mouth
endorsement.

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SWOT Analysis
Strength:
a. Prime location that provide ease of access from the interstate
b. With small size business, the owners believe that it can provide excellent service by
selecting its special markets when it is compared with big competitors.
c. Exceptional workforce with positive attitude.
Weakness:
a. Recruitment and retention of quality employees
b. Tighter margins would leave little margin of error
Opportunities:
a. Small barrier to entry enables Grab n’ Go with immediate opportunities for doing its
business
b. Offering additional facilities such as drinks will allow more customer footfalls.
Threats:
a. Increasing operational costs
b. Creating and Maintaining sales volume
c. Supermarkets and convenience stores
Competitors:
Hedarys Restaurant: This is a full service family restaurant that is established in 2007. The
200 capacity restaurant operates as the sole proprietor with 18 employees produces a sales
revenue of $800,000 yearly. The prices are higher and its average product ranges between
$12 to $20 per customer

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Barbeque Den’s: This is a sole proprietorship which mainly provides its customers with
barbeque item. Even though the food offering hardly competes directly with the subject, the
restaurant simply targets the same neighbourhood families and from 1990 has been operating
in the same location. The entree cost per person ranges between $9.99 to $15.99.
Cracker Barrel: This is located along the interstate 30 and it is not located within the target
market area. Its menu offers home comfort food, the restaurant attracts identical market and
targets tourist’s business also. The entree cost per person ranges between $10.99 to $18.99.
Advertisement and sales:
Advertisement:
Event marketing: Grab n’ Go plans to join the local chamber of commerce and would use
their networking services for grand opening.
Word of Mouth: Grab n’ Go has the database for current catering customers and would
remain dependent heavily on this method for attracting and growing its business.
Sales Strategy:
 The sales of Grab n’ Go is focussed on locals which is dependent on the living habits
and environment of nearby residents.
 The sales strategy is based on customer service as Grab n’ Go goal is to provide a
wonderful home-style meal with improved customer service.
Promotional strategies:
 Social media promotional strategies will be adopted for connecting with the Facebook
page and Instagram application (David and David 2016).
 Grab n’ Go aims at developing websites to provide its customers with all required
information and make reservation through it.

9ENTREPRENEURSHIP RESEARCH REPORT
 Word of mouth promotional strategy will be adopted for spreading word of mouth as
the cheapest source of marketing program.
Sales and marketing objectives:
a. To offer quality meals to customers at an affordable price with exemplary service.
b. Attaining a coverage ratio of 1.00X for each items sold
c. To attain the prime cost ratio of less than 65%
d. To be the premier home-style restaurant in Sydney
Mission and vision statement:
a. The mission of Grab n’ Go is to offer its customers with unique and relax dining
experience such as dining at home.
b. The mission of Grab n’ Go is to not only create nutritional tasting meals but also
provide an efficient service because customer satisfaction is paramount.
c. The vision of Grab n’ Go is to spread its Vietnamese cuisine reputation to the
Australian people and strangers in general.
Goals:
 The goals of Grab n’ Go is to be active in the local community and plans to take an
active role in marketing area.
 Grab n’ Go will provide menu items in order to incorporate quality ingredients at a
reasonable price.
 Grab n’ Go will be mindful of customers wellbeing and staff-treating. Hence, it will
be mindful with everyone just like one is at their home.

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Action Plan:
Week 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Mar Mar Mar Mar Apr Apr Apr Apr Apr May May May May Jun Jun Jun Jun Jul Jul Jul Notes
5 12 19 26 2 9 16 23 30 7 14 21 28 4 11 18 25 2 9 16
Phase Initial Capital Contribution
One Project Plan
Plan Review
Phase Draft Requrements
Two Establis hm ent of Legal entity
Project Test Plan
Acceptance Test Plan
Final Requirements Specifications
Phase Review and Approval
Phase Mailing System
Three Configuration Managem ent Plan
New Corporate Broucher
Advertisement
Direct Mailing
Integration Test Plan
Business Plan Review
Final Design Specifications
Corporate Identity
Starting
P
R
O
J
E
C
T
E
N
D
Milestone: additional funds
Finance:
Financial objectives:
 The objective of business is to aim for annual five percent increase in revenues
 Having a working capital of $50,000 for smooth flow of operations
 Attaining a gross profit margin of more than 40% in the first year of operations.
 Attaining a net profit margin of 10% in the first year of operation
Finance Required:
The business estimates a required capital of around $325,000 out of which $250,000
will be contributed by owners and the rest of the amount will be obtained from bank loan.
The aim of the business is to pay all its debts within the span of four years. The profit derived
will be equally divided among the owners.
Assumptions:
a. The price of meal will range between $7.99 to $15.00
b. The target revenue is $350,000 in the first year of operation
c. With yearly increase in inflation of 3% the business assumes its sales will grow by
10%.
d. The restaurant will employ 8 employees in the first year of operations.

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Profit and Loss Account:

12ENTREPRENEURSHIP RESEARCH REPORT
Cash Flow Statement:

13ENTREPRENEURSHIP RESEARCH REPORT
Start Up Costs:
Projected balance sheet:

14ENTREPRENEURSHIP RESEARCH REPORT
Break-Even Analysis:
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20000
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60000
80000
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120000
140000
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77530.8 96913.5
116296.2
Contribution
Fixed Cost
Profit

15ENTREPRENEURSHIP RESEARCH REPORT
References:
Ansoff, H.I., Kipley, D., Lewis, A.O., Helm-Stevens, R. and Ansoff, R., 2018. Implanting
strategic management. Springer.
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
David, F. and David, F.R., 2016. Strategic management: A competitive advantage approach,
concepts and cases. Pearson–Prentice Hall.
Kuratko, D.F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning.
Lasserre, P., 2017. Global strategic management. Macmillan International Higher Education.
Read, S., Sarasvathy, S., Dew, N. and Wiltbank, R., 2016. Effectual entrepreneurship. Taylor
& Francis.
Rothaermel, F.T., 2016. Strategic management: concepts (Vol. 2). McGraw-Hill Education.
Trigeorgis, L. and Reuer, J.J., 2017. Real options theory in strategic management. Strategic
Management Journal, 38(1), pp.42-63.