ENTR5000: Business Plan for The Royal Chauffeur Restaurant Project

This business plan outlines the strategic approach for The Royal Chauffeur, a restaurant aiming to provide diverse food options and entertainment. It encompasses an executive summary, business goals, and a detailed management plan, emphasizing high-quality service and customer satisfaction. The plan includes market research and analysis using Porter's Five Forces, highlighting competitive challenges and opportunities within the Australian restaurant sector. A comprehensive marketing plan, utilizing the marketing mix and STP strategies, is presented to enhance brand awareness and customer engagement. Furthermore, the plan details operational and financial strategies, including pricing, promotion, and financial projections, alongside an action plan to ensure successful implementation and growth. The plan also covers the restaurant's unique selling points, such as entertainment facilities (dance floor and band performances) and a focus on providing a relaxing and refreshing dining experience.

A business plan for a new venture applying
principals of entrepreneurship

TABLE OF CONTENTS
EXECUTIVE SUMMARY ............................................................................................................3
BUSINESS GOALS .......................................................................................................................5
MANAGEMENT PLAN ................................................................................................................5
MARKET RESEARCH AND ANALYSIS ...................................................................................6
MARKETING PLAN .....................................................................................................................8
OPERATIONAL PLAN ...............................................................................................................11
FINANCIAL PLAN ......................................................................................................................12
Action Plan.....................................................................................................................................17
References......................................................................................................................................18
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EXECUTIVE SUMMARY
Entrepreneurship is a self-dependent approach of individuals to set up their own business ahead of the streamline
functioning like providing services in a company or assisting in some other business. The basic purpose behind entrepreneurial
venture is to develop certain tactics which will help in overcoming certain needs and demands of the society or potential
customer. The Royal Chauffeur is one such entrepreneurial venture which aims to provide delicious food with exclusive services
to customers without affecting their pockets. People nowadays are aiming to get good quality products and services without
paying huge amounts. The services which will be provided in this restaurant include entertainment, a dance floor apart from the
eating area and a band performance every weekend.
Delicious food when provided with great entertainment and music becomes much more relaxing and refreshing. The
main aim or vision behind this restaurant is to never let any customer's expectations and satisfaction level down. Before making
any decision or strategic implementation, it is important to assess the requirements and analyse the current market situations.
There has to be development of goals, certain plans and proper administration so that correct implementation takes place. These
steps help in reducing the risk or probability of failure for the organisation and bring in more effectiveness in the entrepreneurial
decisions. Hence, a business plan has been developed for gaining these attributes and advantages.
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BUSINESS GOALS
Entrepreneur make a decision for opening a restaurant which named as The Royal Chauffeur. Therefore, goal of The
Royal Chauffeur, business entity to offer huge variety of foods to there customers such as Mexican, Chinese, Italian, Indian and
Continental. In addition to this, The services which will be provided in this restaurant include entertainment, a dance floor apart
from the eating area and a band performance every weekend. Further, from the investigation it has been found that there are
many small restaurant who arrange entertainment facility for those customer who pay for it such as musical show (Bryman and
Bell, 2015.). In accordance to this the entrepreneurship has decided for the entertainment dance floor and a band performance
every weekend will be organized without charging extra amount from customers. This Unique concept will assist business entity
in making the ambiance of the profitable.
Goals and objectives of the business
The main goal of The Royal Chauffeur is to provide high quality services to its customer, in order to attract large
number of customer (Saunders, 2011). In addition to this free entertainment facility is organized by restaurant at free of cost
which lead to enhance the satisfaction level of customers.
The foremost priority of The Royal Chauffeur is to provide excellent services to its targeted customer and surrounding
community by establishing a flourishing, impulsive social enterprise.
Goals and Objectives includes
 Creating an attractive diverse menu
 Offering nutrient, fairly priced and diverse food options
 Delivering high quality customer services that create strong relationship.
 Providing an entertainment facility such as dance floor and band performance every weekend at free of cost.
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MANAGEMENT PLAN
A management plan is a written strategy for the way to get restaurant where it want. There is some benefit of
management plan that is it help in guide the way for achieving goal. Further it allow everyone within a business to clearly see
their place which include the way to report and to whom to report. At The Royal Chauffeur highly skilled employees are hired
in order to provide high quality services to customer.
The management plan consist of the following elements
 Ownership: Owner is mainly accountable for the day to day operations of the business finance. Further owner of an
organization make decision and also responsible for the general direction of the business. Further it take on an active role
in the restaurant operations.
 General manager: The general manager plan significant role in order to carry out day to day operations. They are
responsible for hiring new staff and provide them training and development facility (Osterwalder and Pigneur, 2010).
Further it ensure that The Royal Chauffeur restaurant is maintained in proper operating condition and all things run
smoothly.
 Front of house: Front of house works at operational level and and there duties fall into two area that is back of house
and front of house. Further, they are accountable for the restaurant dining area, and it set up services, and interact with
kitchen staff on customer waiting.
 Executive chef: The executive chef is a person who is accountable for back of house operations. Further it includes
hiring kitchen staff and create menu list. Further they purchase food and assist in determine the price accountable should
place for its meal. Along with this it also report to the general manager of all its purchase items.
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MARKET RESEARCH AND ANALYSIS
Before starting the operations in any industry it is important for entrepreneur to research the prevailing market environment and
challenges in the sector. With the support it this, the owner of The Royal Chauffeur can easily set strategy for the growth and
development of its business. Further in the Australia restaurant sector, entities are facing immense competitive challenges in the
market. So it is essential for business planner to conduct market research and measure the external market condition by applying
the application of Porter's 5 force model which has been covered below:
 Threats of new entrants: For the new entrepreneurs, there is no barrier in the restaurant industry for starting a new
business. However, it become risk for the organization who already exist in this market (Vuong, 2014). For instance
there is high risk to retain their position in competitive world for Shack shack, Pidgin restaurant etc. Further there is high
demand of high quality meal by customers, high yield to entities to run their own business in restaurant sector. On the
other side, enterpreneur is setting its own restaurant with unique concept but there is high competitive presumer from the
effectively established restaurant such as waterfall kebab centre, Pidgin, primeur etc which make very difficult for The
Royal Chauffeur to establish new restaurant.
 Threats of substitute products: At Australia there are prefect substitutes which offered by all the restaurant and it is
available at competitive prices for the customers. Along with this, there are many competitor who are serving healthier
and different combination meal which is one of the critical factor for the The Royal Chauffeur to achieve success. Here
for the proposed The Royal Chauffeur it has been decided to offer its inbound and outbound customer nutritional and
tasty food of different variety such as Italian, Chinese, British etc. further The Royal Chauffeur is providing free
entertainment facility that is dance floor, weekend band performance. Hence it support in retaining young generation
people for longer time.
 Bargaining power of supplier is low: The Royal Chauffeur buy raw materials form its different suppler who deliver
them high quality ingredient at normal price. Further it can be stated that quality of food is depended on the ingredient
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which is used by chef for preparing meal (Growth rate of restaurant in Australia. 2016). Therefore, it is essential for the
The Royal Chauffeur to make buy raw material from those suppler who provide good quality of ingredients. Further in
restaurant industry there are large number of supplier who sell food raw material therefore their bargaining power is not
in their hands. This means that if any supplier sale raw material at high price then firm can switch to other supplier for
purchasing food ingredient. Hence, The Royal Chauffeur is opening new restaurant which goal is to deliver quality
food to its customer for this purpose it need to buy fresh raw material at low price to hence profit.
 Bargaining power of customers: Customers bargaining power is extremely bet on the differentiation level in the
industry. Therefore in restaurant industry of Australia, customer have high bargaining power because there are various
restaurant who provide different type of meal in order to satisfy their customers. So customer will mainly prefer to
choose restaurant where they get high quality food at low price. Further, the quality of product attract large number of
customer including traveller as well as visitors. As for the proposed restaurant targeted customer are young people and
middle class people. OR also kept lower price of there products and provide entertainment at free of cost which is
appropriate for targeting large number of customer.
 Threat of competitive rivalry: The strength of competitive threat is high for the restaurant industry. It is due to there are
large number of restaurant at Australia who are serving multi cuisine and high quality product to customers. There are
some competitor of The Royal Chauffeur who are offering same type of products and services. To remain in
competitive pressure The Royal Chauffeur has decided to offer high quality product at reasonable price and provide free
entrainments. Along with this, high quality food and online food services is best strategy for The Royal Chauffeur to
remain in competitive market.
MARKETING PLAN
 Marketing is a function which enhances the distribution of products and services to the customers (Fan, Lau and
Zhao, 2015). The Royal Chauffeur can use a marketing plan with certain strategic tools like marketing mix and STP
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(segmentation, targeting and positioning) so that potential customers will be more aware about the concerned restaurant
and its services.
 Elements of the
marketing mix
 Description
 Product/service  The Royal Chauffeur is a restaurant with an in-tact dancing
floor for the customers which is useful when the restaurant is
hosting parties or celebration events. Products and services
are considered as the primary components of the marketing
mix. Proper idea regarding the product or service helps in
increasing the effectiveness of the marketing plan.
 Price  Price is a factor which is considered most important when
taking customer perspective. The company can use different
pricing strategies like creaming, skimming, penetration or
marginal pricing. It is also important that a competitor
analysis is performed for gaining an idea about the pricing
standards of the competitors (Khan, 2014). Furthermore, the
benefits and profits of the organisation should not be
underestimated when considering pricing strategy.
 Place  Marketing aims to spread information regarding products
and services of the company to the customers. Place
component depicts the distribution and placement of
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products with respect to their accessibility. Since, this
company is a restaurant and provides services, then
distribution is limited to the suppliers and their approach of
raw materials (Hanssens and et. al., 2014). When proper
distribution channels are developed then production of the
food will be quicker and in time.
 Promotion  Promotional strategies are the tactics which are used by
organisation for communicating the features of products and
services to the customers in different parts of the target
markets. Some of the promotional strategies include
sponsorships, personal selling or distribution, posters,
billboards, campaigns, public relations, social media
marketing, etc. The more a company uses promotional
strategies, greater are the chances for potential customers to
know about the same (Tapp and Spotswood, 2013).
 Physical evidence  The elements of extended marketing mix are physical
evidence, people and process. The production of a service or
product involves different components and individuals.
Physical evidence deals with the perseverance of business in
the concerned markets. The presence or absence of the
company in the current scenario helps in determining the
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physical evidence.
 Process  Customer satisfaction can only be attained when the entire
process involved in production is very efficient. Quality of
final outcome must be able to fulfil the criteria of customer
requirements and demands (Sheau-Ting, Mohammed and
Weng-Wai, 2013). Hence, systems and processes which are
involved in the service production of The Royal Chauffeur
should be initiated in such a way that costs are minimised
and efficiency of the organisation is not affected.
 People  People that are indirectly or directly related with the
organisation or company should not be adversely affected by
the marketing plan. If restaurant staff or employees are not
happy or satisfied by the level of treatment provided by the
organisation heads then their productivity is affected
(Diamantopoulos and et. al., 2014). Simultaneous drawback
is experienced by the company. Being a service oriented
venture, there has to be proper facilitation of employees.
This will yield an internal competitive advantage and
strengthen the business position in operational markets.

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 Segmentation, Targeting and Positioning (STP) is an effective strategy for developing a marketing plan. The
product or service which needs to be communicated to the audience will be marketed properly only when there is proper
idea about the preferences, choices and characteristics of customers.
 Parameter  Description
 Segmentation  Demographic segmentation has been performed for
developing the marketing strategy of The Royal Chauffeur.
This segmentation will concentrate on the potential
customers that belong to young age group i.e. 18-30 years.
Furthermore, families are also considered in this
segmentation. Another criteria for classifying customers
which has been considered is geographical segmentation
that is bounded for individuals residing specifically in
Australia.
 Targeting  The targeting strategy helps in evaluating the potential and
benefits of concerned service and product. The elements or
components which are required to be added in the marketing
strategy are identified through this strategy with reference to
selected segment (Hanlon, 2013). Money or cost and
uniqueness of the restaurant have to be considered in this
strategy.
 Positioning  Positioning strategy involves the development of perceptual
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