Stardust Restaurant: An Enterprise and Entrepreneurship Market Report

This report provides an analysis of Stardust, a noodle-specialty restaurant, focusing on the motivations behind choosing this business, the process of generating the business idea, and a feasibility study conducted to analyze market conditions. The report details the variety of noodle products and services offered, highlighting their unique cultural flavors and potential market opportunities. It assesses the attractiveness of the food industry, specifically the noodle market, and outlines the vision for Stardust, which aims to differentiate itself by catering to diverse cultural tastes. Key strategies such as brainstorming and market viability tests are discussed, along with an examination of potential market opportunities like managing staff turnover and leveraging competitive advantages through innovation. The report concludes by emphasizing the importance of strategic planning and market analysis for effective business expansion, supported by references to relevant industry research.

Enterprise and Entrepreneurship

INTRODUCTION
 As for starting a new business investment is required for developing a place in
the market. This report is about stardust which is a food industry restaurant and
is getting specialized for noodles in the market. This report is the analysation of
motivation if choosing this business and it also involves the process of
generating this business idea. This report also involves various studies and
research which is conducted to analyse the market conditions. This report also
involves the variety of products and services stardust is offering and their
potential market opportunities. This report also analysed the attractiveness factor
of the industry and the main vision for this business

Motivation for choice of business
 The motivation of starting a business in the food industry as a restaurant was as
surveys have been conducted and which a lot of research it has been analysed that
in UK market there are many restaurants but they are selling simple product and
specifically noddle’s were not liked by the customers. The motivation comes from
here to serve the customers according to their culture and taste so that they start
loving the restaurant food again. In Stardust, the noodles are made with different
global spices and are differentiated with different cultural spices so that each
customer can feel it like their home country. Stardust is getting successful day by
day as many things motivated the business and followed which Is helping in
making a special place in the market. The facts which are making it motivated and
encouraged are as follows(Sun, and Lee, 2021).

Process of generating a business
idea
 Brainstorming
 This is the most common way to generate any business idea as it is done in a formal way and without any kind of
restriction. This is known as the idea which helps in generating various ideas from various topics. As Stardust has
participated in a brainstorming session in which leaders ask the participants to express their idea. This helps in
exploring and learning new ideas and utilising personal knowledge in work. As this acts as a design thinking and can be
used in the ideation phase as this expands the ideas in all possible directions and this a team together decides the best
idea and way to process any business idea which involves eight rules that are setting a limit on researching about the
risk than start with the target problem and analyse it and the refrain all the judgments and encourages the ideas
presented after that aim for the quality and by visualising start working on that idea(Nandamuri, and Prasad, 2021).

Feasibility study conducted
 Viability
 For checking the business viability there is a test which makes it analyse the business will be viable in
future or not. The first test is unique as the different flavours of different cultural noodles make
Stardust viable and make it different from the rest of the business and this is a starting and unique
concept which is required by the industry. The next test is upstart funds as this is the investment that is
required for starting a business and which also involve raw material, interior and equipment and
Stardust had taken a loan to fulfil the stating requirements of the business. The thirst test is customers
which is the main step to segment and target the potential customers of the organisation which can be
done by analysing the customer preference and data collection.

Details of product and services
 There are various noodles and with cultural flavours worldwide is selling by
Stardust which is making it unique and help in earning a certain position in the
industry. These products are increasing their customer base as Stardust is mainly
selling and famous for its variety of noodles which are firstly chow mien which
is a special dish of China and had developed by their spices and flavours. The
second serving noodle is udon which is a Japanese noodle and has been prepared
by its unique flavours along with this one more Japanese noodle is served by
Stardust which is soba noodles which are known as the original noodles of
Japan. Another dish is Mei fun which is specialised in Asia and is developed
with the same flavour in Stardust

Potential market opportunities
 There are many market opportunities which are analysed by
Stardust restaurant as the opportunities which this restaurant can
grab from the market are staff turnover rate they can manage the
turnover rate by hiring highly skilled employees in the organisation
and to solve the retention company can also conduct various
performance and reward system to motivate their employees. As
standing against the competition with new and developed ideas and
innovations will help in increasing the sale of the organisation
effectively. This will also help in increasing the customer base and
its experience of visiting the restaurant.

Potential market opportunities
 Product
 Stardust is selling various kind of noodles which is flavoured as per different cultures and nationality. These
products are also served as their individual serving processes and innovative techniques.
 Price
 Pricing of all the noodles is decided up to raw material and the cost of the organisation. The printing of
Stardust is arranged according to the targeted serving class.

Porters 5 force
 The threat of new entrant
 As a new entrant requires huge capital for introducing the business in the market and which can
now compete with the existing company as they have developed their goodwill and image before
them in the market.
 Bargaining power of the buyer
 Stardust’s bargaining power is low as Stardust has come with new and innovative ideas and buyers
have the low power of switching the restaurant in the industry.

Vision
The vision statement of Stardust is “ here’s our direction, here’s we
are changing the world and here we are going to be successful”.

CONCLUSION
 This report has concluded that As for effective strategic planning analysation of
external and internal factors is essential therefore, many strategic tools are
required to analyse the market condition. For starting a business and introducing
it into a new market various study is required to gain an objective of the
organisation and it is also important to analyse the competition in the market and
various market opportunities which helps in expanding the business effectively.

REFERENCES
 Sun, K.A. and Lee, S., 2021. How does franchising alter competition in the restaurant
industry?. Journal of Hospitality and Tourism Management, 46, pp.468-475.
 Lee, C., Pung, J.M. and Del Chiappa, G., 2022. Exploring the nexus of tradition, modernity,
and innovation in restaurant SMEs. International Journal of Hospitality Management, 100,
p.103091.
 Mikhailau, K. and Halubtsou, I., 2022. To the problem of restaurant business organization.
 Nandamuri, P.P. and Prasad, V.N., 2021. Dineout--Constantly Re-Imagining Restaurant
Technology. IUP Journal of Marketing Management, 20(4).