Business Plan Report: Opera in-dine Restaurant, London, UK - Analysis

This report presents a comprehensive business plan for the 'Opera in-dine', a new restaurant concept planned for London, UK. The plan begins with an introduction highlighting the importance of innovative ideas and thorough market analysis in the competitive restaurant industry. The core of the report details the business's specifics, including its name, unique selling proposition (specializing in diverse continental cuisines), and strategic location in Brick Lane, London. It then analyzes the micro-environment, including political, economic, social, technological, and legal factors, and assesses the market and industry, including threats from substitutes, new entrants, supplier power, buyer power, and competitive rivalry. A competitor analysis is conducted focusing on The Bengal Village and other major food chains. The report outlines marketing and pricing strategies, an operations plan, a SWOT analysis (strengths, weaknesses, opportunities, and threats), and financial requirements. The conclusion emphasizes the growth potential of the restaurant industry and the importance of ethical business practices, promotional tactics, and continuous market analysis. References to academic sources support the analysis.

Enterprise and
Business Development

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY ..................................................................................................................................3
The Business Details...................................................................................................................3
Micro-environment Overview.....................................................................................................3
Market & Industry Analysis........................................................................................................4
Competitor Analysis....................................................................................................................5
Marketing & Pricing Strategies...................................................................................................6
Operations Plan...........................................................................................................................6
SWOT analysis............................................................................................................................7
Financial Requirements...............................................................................................................7
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
The essence to grow in competitive market is coming with the innovative idea in order to
grow and increase the profitability. To capture new idea for any business the through analysis of
the industry and market should be done in prior to gain the chances to grow. The all details
regarding any new business is incorporated in detail in business plan (Chofreh, Goni and
Klemes, 2017). The business plan is detailed investigation about the new business idea which
represents all the facts pertaining to the start new business. The information such as objectives,
financial requirements, industry and market analysis, functional departmental roles and
responsibilities etc. all such details are incorporated under business plan. In this report, the idea
of opening new restaurant in London, UK is being taken. The business plan is developed in order
to analyse the effectiveness of this new business idea.
MAIN BODY
The Business Details
The business plan is a document which contains the whole information related to
business and plans to achieve those goals. As, the lifestyle is changing rapidly in which the
people now prefer more ready to eat food. Due to which the idea of opening the restaurant
bloomed. The newly opened restaurant will be named as the 'Opera in-dine', in London. The
speciality will be the different delicacies it will be serving from different continents. The
specially hired chef from all across globe will be preparing the exquisite dishes. The attraction
point will be the endless range to eat, drink from and enjoy! The London is highest tourist
attraction place in UK, therefore, this location is selected for inaugural of Opera in-dine. At,
Brick Lane the Opera in-dine will be opened (Franke, Cohen and Sigholm, 2018). The Brick
Lane is situated at Central London place with lots of attractions to shop from.
Micro-environment Overview
The analysis of the macro factors should be done in order to gauge the opportunities and
threats lying ahead. This gives the idea of expansion in order to gain the advantage. The analysis
of the macro factors in regard of Opera is as following; Political : The UK government is considered to be one of the most stable countries. The
constitutional monarch and parliamentary system so followed is one of the strongest and
most transparent system in world (Ilin and et. al., 2019). The stable and political

environment will support the restaurant favourably. As, the transparency and corruption
free system leads to the fair dealings. Economic : UK has one of the most positive growth in terms of GDP. Due to pandemic,
the country failed to achieve the growth pace but is taking leap towards it again. The
country's Foreign direct investment rate is also positive in terms of other country. The
London has more diverse background of population and it has offers the every business to
flourish. Therefore, the Opera can be benefited with this opportunity and these favourable
factors will help the restaurant to flourish. The tax rates have been highly increased due
to COVID pandemic and the purchasing pattern of people have been affected to an large
extent which can impact the Opera's survival (Jun, 2020). Social : The social structure play an important role in shaping the business growth. The
culture and societal patterns directly impacts the performance of the business. The UK
compose the high population which is very conscious towards their health and education.
Therefore, the Opera needs to be aware of the current trends going in society and culture
beliefs they share. Technological : The UK is one of the top countries to innovate with new technologies.
The country own good network of R&D in every field. The Opera in-dine needs to be
equip with up to date technology in their operations and process in order to provide ease
to consumers and to handle their activities efficiently.
 Legal : The UK has stringent law rules and regulations which needs to be followed in
order to stay secure and safe. The rule pertaining to food materials used, storage of food
etc. Guidelines should be adhered strictly (Kushkhova and Petrov, 2019). Due to COVID,
the laws have been updated which should be mandated in Opera's functioning.
Market & Industry Analysis
It is always better to analyse the market position an industry competitiveness in order to
know the competition. Based on that the drivers of growth and profitability can be identified and
worked upon in order to gain the strong standing in market. The analysis of the Opera restaurant
is as follows; Threat of new substitutes : In restaurant and food industry the substitutes can be found
easily, which affects the profitability of the company. As, in this industry the loyalty of
consumers can be obtained on quality only (Mugwaneza and Brunninge, 2020).

Therefore, the Opera needs to do conscious of the service and products in order to obtain
loyalty of consumers. Threat of new entrants : This industry is very much attractive in terms of return on
investment, therefore, the eye of new players is always high in this industry which
increases the competition. The Opera in-dine to stay ahead in competition needs to
constantly innovate with the menu to lure the visitors to visit and the loyalty and rewards
programmes needs to be part of process which will help to maintain the loyalty of
consumers. The constant innovation in store should also be done in order to attract the
consumers. Bargaining power of Suppliers : The Supplier exert great influence in this industry
which affects directly the profitability of an organisation. As, the raw materials are
purchased from different suppliers with this point they take this as an advantage to not
decrease the price and affect the negotiation power of them.. The Opera in-dine in order
to turn this factor as an advantage need to develop the effective partnership with suppliers
in this industry. With this they can develop the effective supply chain and achieve the
economies of scale. Buyer Power : The buyers are always in situation to extract the best option available at
lower prices. In order, to maintain loyal consumer base, the Opera needs to come up with
new innovations in their services and products. The differentiation should be there which
will help them to gain positive word of mouth publicity. In this industry the food taste
and menu can be matched with other restaurants but services can be greatly differentiated
to attract the visitors.
 Competitive rivalry : The food and restaurant industry is most competitive industry which
affects directly the profitability of company. The Opera in-dine needs to be build the
differentiation in their products and services to build the competitive edge. The Opera
also need to constantly renovate its space and menu in order to gain the sustainable
advantage in industry.
Competitor Analysis
The Bengal Village, is one of the famous restaurants in London. This is considered to be
one of top restaurants which specialise in Indian food. It is one of the oldest food joint situated at
central location of London,Brick Lane. They are been honoured many times for their exceptional

service and taste. They have been honoured with various titles such as Mater Chef Brick Lane
2014, best restaurant title and Lux 2017 best Indian restaurants in London. For, The Opera in-
dine this will tough competition as the Bengal Village own the great advantage as they have the
heart and mind of London people. In London various speciality cuisine based restaurants
operates which will possess great threat to Opera in-dine to gain that share. The have efficient
supply chain and wined the customer loyalty (Pirogova, Plotnikov and Maltseva, 2019). For
Opera in-dine it will be tough competition to standout against the Bengal Village. Various, other
big food joints such as McDonald's, Burger King etc. also captures the market share largely.
Based on this the Opera in-dine needs to practice very strategically in order to gain the
competitive edge. The standardisation of taste and practices needs to be part of their culture in
order to attract the visitors.
Marketing & Pricing Strategies
In order to attract the visitors the strong brand image needs to be build by building strong
marketing and promotional activities. The Opera in-dine is an speciality restaurant, focused to
cater the services to tourist, family and youngsters. As, in introductory phase the promotional
activities needs to be focused on largely to attract the visits. The inaugural offers can be devised
upon, with attractive and different offers which interest their action to visit the restaurant. Such
as the surprise binge can be offered to the tourist which will attract them to visit more. Fro
youngsters, the offers on coffee and snacks can be provided and the loyalty club programme can
also be instantiated to increase their regular visits. To, attract family visit, the offers on the total
bill and some weekend offers can be launched to attract their visit. The prices should be kept
competitive and economical as this is just the starting phase. At later times when the Opera will
gain some acquaintances visit then the prices can be increased later on (Rondinelli, 2019).
Operations Plan
The Opera in-dine will give the take away facility also in order to increase their revenue.
The raw materials will be gained directly from supplier as this reduce the storage space and
delivery cost will also be reduced. The physical store would be opened at the Brick Lane, with
use of the modern interiors and sculptures the store would be designed. The kitchen would be
equipped with all modern tech utensils and cooking equipments in order to provide the ease in
cooking. The mobile app and website will also be there to provide the enhanced services to the
people. The facilities such as take away, seat booking, order update in real time etc. facilities will

be provided. The staff will be proficiently trained according to health and safety protocols
designed for the consumer safety.
SWOT analysis
The understanding of the internal environment should be known in order to know the
capability of the organisation to exploit the opportunities area as follows; Strength : The speciality of all the continents will be the differentiation point for the
consumers to visit the Opera in-dine. Weakness : The competitors in this industry already better know the trend in market and
have that brand recall value which will possess great threat for Opera in-dine. Opportunity : The consumers attraction point will be the the inaugural offers and many
promotional programmes which are in line with future events (Štavlić and Potnik Galić,
2017). The Opera in-dine will celebrate every regional, national and international event
also.
 Threats : The spending pattern of people have changed to an large extent which will
affect the Opera visits. As, the coronavirus pandemic have resulted in lower visits and
affected the purchasing pattern which is also the great threat.
Financial Requirements
The projection of the financial requirement by the Opera in-dine to carry out its
operations and processes area as following;

CONCLUSION
From the above discussions, it can be interpreted that the restaurant and food industry is
blooming one which gives an various avenues to expand. The strategic intent should be clearly
set to give direction to the activities. The hygiene and quality standards, practices should be
followed in order to carry out the business practices ethically. While in introduction phase the
promotional tactics should be carried out an large pace to maintain the credibility in market. The
internal and external analysis should be done in order to know the market opportunities lying
ahead.

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