Introduction to Business: Sushi Restaurant Business Plan

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INTRODUCTION TO BUSINESS
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Table of Contents
Introduction......................................................................................................................................3
Business Plan: Part 1.......................................................................................................................4
1. Outline your new Business Venture.....................................................................................4
 State the nature of the business and what product or service it provides –..........................4
 State your USP and explain why your business would have a competitive edge. -.............4
1.1 Business Type ...................................................................................................................4
 Is your business a Partnership or a Company formation? Explain why you have chosen
this business model......................................................................................................................4
1.2 Research.............................................................................................................................5
 Research into the business service you have chosen; identify existing competitors............5
Business Plan: Part 2.......................................................................................................................7
Part 2.1: Apply McCarthy’s 4Ps and any other relevant models: -.............................................7
Business Plan: Part 2.2....................................................................................................................9
2.2 Employees/ staff........................................................................................................................9
 Explain the job roles assigned to the business employees. Eg: role of the manager/s -.......9
 Explain the advantages & disadvantages of having Zero-hour contract workers and
Agency staff...............................................................................................................................10
2.3 Customers/ clients....................................................................................................................11
 Identify your customer target market. Who are your customer cohorts?...........................11
Business Plan: Part 3 Future Plans –.............................................................................................12
3.1 Should your business be successful, explain how the business could expand in the future.
Illustrate by giving examples, what strategies you would adopt to expand..............................12
Conclusion.....................................................................................................................................13
References –...................................................................................................................................14
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Introduction
When we look in our surrounding environment, it is observed that people are engaged with some
activities. Business is a need of human activity to satisfy our requirements and financial
statement. Every business need some resources to start with and processes their strategies to
make it growth. To start a business everyone should make a business plan and highlight their
vision. In order to this we just introduced our new business plan in context of Sushi Restaurant.
It’s a multi stored restaurant which we need to establish. Business plan of Sushi Restaurant
should include creation of production and services that is the essential for development of
restaurant identity. A business success depends on its utilization of resources as per user
requirement and its profitability in terms of client satisfaction.
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Business Plan: Part 1
1. Outline your new Business Venture
 State the nature of the business and what product or service it provides –
The sushi restaurant is the new business venture we are going to open. The restaurant will deal
in variety of sushi products to attract its customers. Modern business with latest technology is
very innovative and dynamic in environment. In context of Sushi Restaurant we have developed
an effective business plan to establish its structure. Business managers of Sushi Restaurant have
to come out with skilled people and creative ideas to improve their production and delivery
services to set their identity in the market. The main characteristics that is essential in a business
plan are - (Ghobakhloo, et. al., 2012) –
Economic activity
Buying and Selling of goods
Process generation
Motive of profit
 State your USP and explain why your business would have a competitive edge. -
USP Calculation – Unique selling proposition is the basic term that defined the competitive edge
of your business. It indicated the possibilities that why one should invest their money to your
product (Berman, 2016).
In context of our new business venture Sushi Restaurant, USPs are hard to find but a vital tool to
establish a successful identity in competitive market.
We just design a business plan for our latest brand Sushi that deals with variety of sushi products
and provide services for manufacturing of taste in products and provide delivery services for
clients (DeVellis, 2016).
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1.1 Business Type
 Is your business a Partnership or a Company formation? Explain why you have chosen
this business model.
Our new business Sushi restaurant has a solo proprietorship that is run by only a single person.
The idea of development of sushi is a generic one that is sufficient to run by individual at initial
stage.
A solo business is run by only one individual person that manages the entire work and takes the
required steps to make his business grow. This one person is proprietor (Sushi’s owner), control
the entire business, arrange capital for business and take advantage of all its income. The solo
business income of Sushi’s restaurant is counted as personal income source and taxed as personal
income.
In a partnership firm, the business is run by the collaboration of two or more persons that are
responsible for business services and growth. Advantages of these kind of business is that if any
sudden changes occur in the market that effect the business profit, then these losses are shared by
both the partners. But in similar ways they have to share the profit as well. So we decided a solo
company formation for Sushi Restaurant at its initial stage. (Galí, 2016).
1.2 Research
 Research into the business service you have chosen; identify existing competitors.
As the Sushi restaurant is new in market so we need to conduct a research to find its expose in
future market. The research also elaborates the competitive market strength and weaknesses that
can be helpful for restaurant establishment.
Quality research – The quality research includes the perception of customer towards any
organization. Every business needs to have quality plan for their vision and objectives. Sushi
Restaurant business plan provides a direction of work flow in which markets can invest their
capitals to attract visitors. Qualitative research focused on people behavior, desire and
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perception towards certain organizations. In context of Sushi we have a predefined business plan
of functions that the owner have to concern on (Ghobakhloo, et. al., 2012) –
 Executive Summary
 Description about the organization goals
 Market analysis
 Productivity and performance management
 Funding for investment
 Financial statement and feedback
Quantitative Research – After quality we need to conduct a quantitative research. Quantitative
market research tend to more clear on their focus in terms of target audience, select a size sample
for product to respond queries of users and most important to provide solutions for their
feedback (Gilding, et. al., 2015).
Quantitative can be either paper based or survey of organization in a particular scenario. The
methods those are included in this survey –
 Question based survey report
 Collection of large amount of data
 comprehensive result set with targeted audience
 Problem solving abitlity.
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Business Plan: Part 2
Part 2.1: Apply McCarthy’s 4Ps and any other relevant models: -
McCarthy’s 4P model is also defined as marketing mix that is a set of marketing tools used to
pursue its business objectives in the competitive market. In context of Sushi Restaurant
McCarthy’s theory have a proposed function that indicates – On demand product services with
needed quality and margin cost (Berman, 2016).
The four blocks for marketing mix theory are –
1. Product – It defined the type of manufacturing goods, its quality and category under
which product is defined. The product can be tangible or intangible as it developed to
satisfy the requirements of certain group (Galí, 2016).
Let’s take an example – Our proposed business Sushi deals with taste in its variety of
sushi products and the major concern area of production is quality for customer
satisfaction (Wani, 2013).
2. Price of goods – Once the product is set, then the major task is to define their margin
cost. When price is defined for a product it should include the market value of item, its
consumption factor and distribution cost of thing.
The price for initial stage is very reasonable as a middle-class people can easily afford it
(Gilding, et. al., 2015).
3. Place (area of consumption) – The placement and distribution of area is a very important
factor to develop a business. It should be near to customer reach and easily transportable
so that buyers can access the services of your business.
4. Promotions – Promotion of business to get the customers on your store is complex task.
It defines the identity of your brand into the market and develops recognition of product.
It comprised of various element such as –
 Organization of sales and productivity
 Public relations
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 Sales advertisement
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Business Plan: Part 2.2
2.2 Employees/ staff
 Explain the job roles assigned to the business employees. Eg: role of the manager/s -
Manager is a vital job title that is designed to organize the functions and responsibilities of
department. A manager is assigned to play some classified role to manage the culture of
organization. A manager has to perform many critical tasks to represent business scope and their
services in global market (Ghobakhloo, et. al., 2012).
In that scenario manager has to function many activities also guide their staff members to
perform effectively. As the manger of Sushi Restaurant some of the defined task for him includes
-
 Hiring the best skilled people for the organization to achieve goals and objectives of the
company is the major work for a manager. Manger has to conduct many drives for the
selection of new people and provide them roles according to their skills.
 A manger also deals with the conflicts that happens in company premises and provide
solution to control them (Wani, 2013).
 Define strategies to transform company functionalities and objectives.
 Also monitor every individual person and their performance in the company, encourage their
staff members to work efficiently in order to get positive results.
 Develop and plan new techniques to deal with future problems and define future scope for
the company.
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 Explain the advantages & disadvantages of having Zero-hour contract workers and
Agency staff.
Pros and cons of Zero-hour contract –
 The main advantage of having Zero-hour contract policy is flexibility. Employees can
work effectively without any pressure that can help them to improve their productivity.
 It can help the organization to manage sudden demand of any production (DeVellis,
2016).
 To deal with the management in case of absence of any employee.
 Also, company can use their polices regarding any new launch event and other activities
in the office premises. The companies are free to take their decisions and work according
to them (Berman, 2016).
 The disadvantages of having this policy is that under no obligation, company cannot offer
its employees to work and the employees get paid full salary.
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2.3 Customers/ clients
 Identify your customer target market. Who are your customer cohorts?
The manager is a key builder that implement high level strategies to operate many drives in the
company. The challenging role of manger as he has to defined the targeted market from where
we can get the high audience. As a health and taste product-based company some strategies
manager should adapt to get customers (Rubery, et. al., 2016)-
 Technology oriented – The most of the successful business are due to its productivity
according to latest trending requirements. Manger should develop margin-based
production and deals with client desire. Using the latest technologies market can grow
(Gilding, et. al., 2015).
 Communication – The employees or the manager should have efficient communication
skills that can motivate the other people and made a good impression on them. As in
business sector the most common way to attract customers towards your business is
efficient communication that can interact them about their problems and provide them
satisfaction (Ghobakhloo, et. al., 2012).
 Social promotion – The highest customers traffic can be generated from the social media
now a days. As people became technology oriented and they surf the internet throughout
the whole day.
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