Executive Summary: The Table Restaurant Business Plan Analysis

This report provides an executive summary of "The Table Restaurant," a fast-food venture planned for London, UK, aiming for international expansion. The business plan outlines the restaurant's unique selling proposition (USP), which includes a blend of local and international flavors, high-quality ingredients, and a customer-friendly environment. The report details the restaurant's marketing strategy, focusing on local store marketing, media campaigns, and brand-building through supporting merchandise. It also covers pricing, sales, and financial plans, including funding sources, sales forecasts, and strategic alliances. Furthermore, the report discusses the factors that encouraged entrepreneurship, emphasizing the importance of creativity, risk tolerance, and market analysis. Risk mitigation strategies involve evaluating market conditions and societal attitudes. The restaurant plans to open its first outlet in a high-traffic area, targeting a broad audience, and anticipates strong sales during holiday seasons. The financial plan includes start-up costs and funding strategies. The report also highlights the restaurant's milestones and strategic alliances with suppliers and vendors.

Entrepreneurship
1

Executive Summary
“The Table Restaurant” is planning to establish itself as renowned fast food restaurant in
London, UK provinces that will further position themselves in international market. This will be
accomplished with the help of creative approach and detailed presentation of company. The
Table Restaurant will offer excellent combination of food items at value pricing along with
packing. To have strong financial assistance restaurant will mainly look forward with bank and
shareholders in order to its successful opening and expansion. Main focus of restaurant always
will be on serving food with high quality. This report covers formative assessment of The Table
Restaurant business plan along with other USP and rational.
2

Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................4
1. Business Plan...........................................................................................................................5
2. Rational of USP and the manner in which it create value......................................................8
3. Factors that encouraged moving into entrepreneurship and the manner in which risks
involved.......................................................................................................................................8
Mitigate........................................................................................................................................8
3

INTRODUCTION
Entrepreneur is an individual who take risk, evaluates markets factors and generates new
business idea as to earn more profitability (Audretsch, 2012). Entrepreneurs and start-ups play a
key role in order to strengthen a country economy. Thus, it is important for government to
provide proper support to entrepreneur as to make their business launch in successful way.
Entrepreneurs contribute their role by increasing nation GDP, employment rate and per capita
4

income of individuals. In the present report proceeding of entrepreneur business idea is being
discussed for which a formative furnished business plan is formulated as to secure funds from
bank. This will further ensure effective functioning of business operations in a proper defined
manner.
1. Business Plan
This business plan include formative assessment of “The Table Restaurant” which is going
to launch their business in within fast food industry which is recently is one of the leading and
fastest growing sector globally. Restaurant will offer their food products in an affordable range
along with the qualitative inputs of hygiene, taste and low price edibles. The Table Restaurant
include some of the certain food products that will posses exotic mouth watering taste, some the
products include, Nachos, Pizzas, Veggie Whopper, Fatty Melt, French Fries, Coffee, Burger,
Butter beer Frappuccino and Grilled Cheese. Restaurant will open their first outlet in the
marketplace of London, UK which acts as their “market testing area” as owner is looking
forward to expand their number of outlets in other regions of UK. Mentioned below there is a
Business plan of The Table Restaurant:
Competitive Edge:
The Table Restaurant use unique taste of spices and flavours blend with local and
international taste in their food products which creates an exotic delicious fusion of mouth
watering signature recipe which is hard to be copied. Along with this, Restaurant will offer
services through their friendly and enthusiastic staff that lead towards creating home feeling
environment. In addition with this The Table Restaurant will use 100% fresh potatoes in their
items like burgers, Veggie Whopper, French Fries, contrasting to competitors who use frozen
fries. Along with this, innovative and attractive packing will lead restaurant towards gaining high
position at same level.
Marketing Strategy:
The Table Restaurant marketing strategy includes serving markets in best effective
manner. Restaurant will initiate their first outlet as “market tester” that will act a model in order
to speedy expansion of more number of outlets in upcoming future days. The Table Restaurant
main concentration is on effective maintenance of quality along with establishment of strong
uniqueness at local market. In addition with this restaurant will take formative advantage of
strategically advance combination of local store marketing programs with local media at every
5

location. In section of local store marketing will be efficiently conjoined with print ad (Grégoire
and Shepherd, 2012). Along with this, idea has already set that as soon as restaurant established
their concentration of stores in UK marketplace, it will further take advantage of broader media
technologies. The Table Restaurant believes that “buzz” acts as a one of the best effective form
of adverting. Thus, they will offer attractive fun and energetic environment combined with
affordable prices and unbeatable quality in order to emerge as talk of the town. Therefore, best
effective format of business plan execution is critical element of their plan. In addition with this
The Table Restaurant will going to build their brand via selling of supporting supplies like,
promotional items, merchandise and other related marketing gimmicks.
Pricing Strategy:
The Table Restaurant pricing strategy is mainly positioned as “generic” that states that 2
Euros is average customer expenses for light lunch or snacking in UK. Restaurant will offer
leverage in fries, Veggie Whopper and Nachos, The Table Restaurant initially mainly serve
majority of UK population.
Brand Challenges:
Butter beer Frappuccino and Fatty Melt products of The Table Restaurant will lead
towards establishing distinct brand that will make restaurant to stand out as compared to their
competitors. In addition with this, Restaurant log acts as a distinct element, which include
energetic combination of playful colours that will attract attention of customers in an eye
catching manner.
Marketing Programs:
The Table Restaurant will strengthen their base of marketing programs with the help of
three distinctive forms of marketing tactics in order to increase consumer awareness of their
exotic food products. Restaurant will take advantage of word-of-mouth and in-store marketing as
their most vital tactic. As both of this marketing strategy is cheapest and effective form of
marketing programmes. In addition with this, The Table Restaurant second tactic involves local
store marketing. In this tactic formative advantage of low budget plan along with community
support will be enjoyed by restaurant. It will lead towards creating awareness of restaurant
facilities and products in best effective manner (Siegel and Renko, 2012). Lastly, marketing
effort which will be use by The Table Restaurant is local media. As this form will prove to be
more costly thus, this tactics will only be considered as supplement when there is a necessity. In
6

short some of the sources are mentioned through which The Table Restaurant conduct their
marketing programs that include, In-Store Marketing, Grand opening promotion, local store
marketing, local media, Web page, Newspaper Campaign, Merchandising items, Wall posters,
In- store brochures.
Positioning Statement:
Main Focus of The Table Restaurant will be on to effectively enhance consumer
awareness within surrounding community. In addition with this, restaurant efficiently direct their
all related programs and tactics towards explaining the actual motive and concept of The Table
Restaurant. Along with this, Restaurant set their product range in a fair and affordable manner
while keeping their standard towards high direction. In order to effectively execute this operation
in best effective manner The Table Restaurant considers “word-of-mouth’ as their main
marketing force.
Sales Strategy:
Formative sales strategy of The Table Restaurant is to effectively increase their number
of outlets in wide range of new locations as to remarkably boost restaurant revenue. This plan
will only going to initiate further when “market tester” outlets will show as expected and
attainable potential growth.
Target Audience:
The Table Restaurant will open their first “ market tester” at high crowded malls in
London, UK that will further attracts customers on holiday’s and week end days.
Financial Plan:
Owner of The Table Restaurant estimated that there will be approximate requirement of
20,000 Euros to cover start-up along with its expansion for over first 2 years. Restaurant will
acquire funds from, money lending institutions, banks, private money lenders and shareholders.
Sales Forecast:
The Table Restaurant effectively anticipated their highest peak sales forecast in the
simultaneous months of December and January as both of these months have holiday seasons. In
December, Christmas vacation time starts which lasts till the mid end of January. It has been
identified that more than 1.2 million individuals from different locations of UK visit London
each day basically for the purpose of dining and shopping. It reflects that The Table Restaurant
will see jump in their sales in both of these consecutive moths.
7

Strategic Alliances:
The Table Restaurant will offer fresh food quality to their customers for their will be a
requirement of building long term relationship with raw suppliers along with partner vendors.
Thus, restaurant will keenly look forward to formulate strategic alliances and good standing
relationship with other companies.
Milestones:
From the starting initial stage The Table Restaurant will effectively engage in the process
of planning and implementing brand image of their first outlet. This will nearly take 6 month
along with this refinement and revision procedure will cover almost rest 10 months before their
first big opening.
2. Rational of USP and the manner in which it create value
USP – Unique Selling Proposition is designed to differentiate self from other competitors at
a marketplace. It leads towards attracting customers. Thus, in order to stand itself out and make
The Table Restaurant unique, restaurant offer “extra things” to grab the eyeballs of large crowd.
The Table Restaurant: the USP will be best quality of food with special exotic spices and fresh
ingredients.
The Table Restaurant will offer food products with special spices and fresh food products unlike
any other restaurant in London, UK. In addition with this, restaurant will further create its value
with their valuable and affordable price range that will make every customer feel comfortable
while paying. There will be thousand of health benefits that will be offer by the restaurant as it
offer natural spices along with 100% fresh potatoes for their burgers, French fries and more. In
addition with this, enthusiastic and friendly staff of restaurant is also one the biggest USP of The
Table Restaurant that will interact and treat customer in best effective friendly way that will
further create value for restaurant.
3. Factors that encouraged moving into entrepreneurship and the manner in which risks involved
Mitigate.
Entrepreneur is an individual who initiate a unique business idea which does not presently
avail in a marketplace and take financial risk with an aim to high profit. Entrepreneurship
8

concept relates with formative activities which is related to setting up business. It can be further
broadly classified as a procedure that include, design, launch and running of a fresh business. In
addition with this entrepreneurship is a wide concept that includes capacity and willingness of an
entrepreneur to develop, organize and manage business along with measuring risk on same hand
in order to generate high profit.
In relation with present scenario, entrepreneur of The Table Restaurant is looking to
establish their restaurant at the marketplace of London, UK. Restaurant will go to serve their
services in a fast food industry which currently is largest and leading industries in all around the
world (Barazandeh, 2015). Thus, in order to start a business venture that will in future gain large
positive reactions there is a requirement of taking advantage of lot of opportunities and
presentation along with analysing related factor as to move towards them
Creativity and accumulation of ideas:
These forms of skill are required to be posses by an entrepreneur as to accomplish and
attain better effective opportunities. In context with The Table Restaurant it is important for
entrepreneur to take advantage of creativity and accumulation of ideas in order to bring more
innovations.
Risk tolerance and taking advantage of opportunity:
Risk is related to high profit. Thus, it is necessary for The Table Restaurant entrepreneur
to take best effective advantages from risk factors as high amount of risk will turn into increase
in profit ratio.
In order to mitigate involved risk it is essential to evaluate essential factor which is mentioned
below:
Market Condition:
In order to initiate any idea it is essential for entrepreneur to evaluate risk. As this will
further help, to gain more developmental ideas to formulate business plan in best effective
manner. In context with, The Table Restaurant entrepreneur there is a requirement to evaluate
UK food and beverage industry market condition in order to formulate best effective business
plan.
Society Attitudes:
Society acts an as important fact that impacts on business performance. Thus, it is
essential for The Table Restaurant entrepreneur be to effectively evaluate UK society attitudes
9

and then offer food products which will gain high acceptance from society (Welter and Alvarez,
2015).
4. Locate, analyse and evaluate sources of information related to support, advice and funding
For business start-ups
Bank Loans:
In this, entrepreneur can allocate funds from different private and government bank
institutions. There are many banking units that offer low interest loans of new and attractive
ideas. Along with this government also provide attractive offers for new entrepreneur to take
fund and start new initiate.
Family and Friends:
In order to start new business idea into business venture, entrepreneur can gather required
amount of funds from their friends and families. In this one of the basic advantage is that there is
low interest rate that will benefit in future when return will pay.
5. Practical and functional skills appropriate for the management of a successful SME
In order to enlarge the scope of success entrepreneur is require taking advantage of various
skills that will further help in gaining high productive outcomes. Mentioned below there are
some of the practical and functional skills described which is required to be essentially
considered by the entrepreneur of The Table Restaurant:
Practical Skills
Creativity:
It is an ability which is related to imagination. With the help of this skill entrepreneur of
take advantage of numerous set of creative and innovative approach as entrepreneur strives
towards more creative in order to use wide base opportunities. Creativity skill benefits The Table
Restaurant to create new ideas in order to devise interesting process. This will allow them to take
competitive advantage while thinking in a novel way as to develop their product in best effective
way and further improve business as to gain more advancement.
Ability to Face Risk:
10

In order to effectively take advantages from each and every opportunities entrepreneur of
The Table Restaurant is required to be able to face risk. This will significantly impact their
business positive revenue generation. Thus, it become essential for The Table Restaurant
entrepreneur to involve in those acts that posses risk as to achieve their predetermined gaols in
best effective way with the assurance of high profit.
Functional Skills
Human Resource Management:
In order to achieve success in a well devised manner entrepreneur of The Table
Restaurant is required to effective manage their human resource department as they are engaging
in the sector of food and industry sector where better serving acts as a key important term (Tang,
Kacmar and Busenitz, 2012). In addition with this The Table Restaurant one of the USP is
enthusiastic and friendly staff. Thus, it become essential for entrepreneur to effectively manage
abilities, skills, knowledge of their workforce in order to gain more competitive advantage along
with best performance.
Technical and business management skill:
In this modern dynamic digitally advanced world, everything relies on technology, thus
in order to gain more advancements it is important for The Table Restaurant entrepreneur to
have proficiency in technological terms such as, Email marketing, social media, Conversion Rate
Optimization (CRO) which help in converting website visitors into consumers, Search engine
Optimization ( SEO) and content marketing (Welter and Alvarez, 2015). In addition with this,
entrepreneur of restaurant is also require to have business management skills such as, financial
management, communication and negotiation, problem solving, Networking, Delegation and
time management, Project management and planning and Marketing and sales management in
order to effective take business towards high profit.
11

CONCLUSION
As per the above mentioned report, it has been conclude that entrepreneur is an individual
that effectively evaluate opportunities take initiative to start a business venture along with
various risk factors. In this report formative concept of business plan is covered which is
required by an entrepreneur to make before launching business. Along with this numerous set of
skills are mentioned with the help of which entreprenuer can able to conduct their operations.
12

REFERENCES
Books and Journals
Audretsch, D., 2012. Entrepreneurship research. Management Decision. 50(5). pp.755-764.
Grégoire, D. A. and Shepherd, D. A., 2012. Technology-market combinations and the
identification of entrepreneurial opportunities: An investigation of the opportunity-
individual nexus. Academy of Management Journal. 55(4). pp.753-785.
Kohlbacher, F., Herstatt, C. and Levsen, N., 2015. Golden opportunities for silver innovation:
how demographic changes give rise to entrepreneurial opportunities to meet the needs
of older people. Technovation. 39. pp.73-82.
Siegel, D. S. and Renko, M., 2012. The role of market and technological knowledge in
recognizing entrepreneurial opportunities. Management Decision. 50(5). pp.797-816.
Suddaby, R., Bruton, G. D. and Si, S. X., 2015. Entrepreneurship through a qualitative lens:
Insights on the construction and/or discovery of entrepreneurial opportunity. Journal of
Business venturing. 30(1). pp.1-10.
Tang, J., Kacmar, K. M. M. and Busenitz, L., 2012. Entrepreneurial alertness in the pursuit of
new opportunities. Journal of Business Venturing. 27(1). pp.77-94.
Welter, C. and Alvarez, S., 2015. The state of opportunities: clarifying the transitions between
opportunity types. Management Decision. 53(7). pp.1398-1411.
Autio and et. al., 2018. Digital affordances, spatial affordances, and the genesis of
entrepreneurial ecosystems. Strategic Entrepreneurship Journal. 12(1). pp.72-95.
Barazandeh and et. al., 2015. Investigating the effect of entrepreneurial competencies on business
performance among early stage entrepreneurs Global Entrepreneurship Monitor (GEM
2010 survey data). Journal of Global Entrepreneurship Research. 5(1). p.18.
Hansen, D. J., Monllor, J. and Shrader, R. C., 2016. Identifying the elements of entrepreneurial
opportunity constructs: Recognizing what scholars are really examining. The
International Journal of Entrepreneurship and Innovation. 17(4). pp.240-255.
Park, J. Y., Sung, C. S. and Im, I., 2017. Does Social Media Use Influence Entrepreneurial
Opportunity? A Review of its Moderating Role. Sustainability. 9(9). p.1593.
13