Detailed Business Plan: Launching a Multi Cuisine Restaurant in UK

This business plan explores the opportunity to open a multi cuisine restaurant named Cravings in the UK. It provides an executive summary highlighting the objectivity of the plan for management review, including organizational structure, competitive analysis, risk assessment, and financial projections. The plan details core features and benefits, steps taken to test the idea among the target market, and the size and profile of that market. It identifies direct and indirect competitors, outlines promotion and sales strategies, and specifies the finances required, including sources of funding such as debt finance, equity finance, and venture capital. Financial statements, contingency plans, risk assessments, operational plans, and legal and regulatory requirements are discussed to ensure a stable and compliant business operation. The plan emphasizes rendering high-quality service and food at competitive rates, combined with a joyful ambience to retain customers and enhance sales.

BUSINESS PLAN
1

Executive Summary
The following report has created enough response to the management of the business. In creation
of new business the report have provided information that required to clear objectivity for
understanding how new business needs to be repaired or presented. The organisational work has
also been discussed in the following report that must be considered by every other new aspirant
of preparing new business in society. The report has also provided with direct and indirect
competitors if the organisation is presented in society. Risk and the impact of that risk are also
discussed in the following report to enable the management to understand the positions that must
be considered to minimise the risk and problem. The report have also discuss regarding the
positive financial statements that must be considered to ensure that the business has a stable
financial strength. Legal as well as regulatory requirement for a new business to be formed in the
society have been discussed with descriptive format that will be helpful for acquiring advantages
in relation to business operation and marketing.
2

Table of contents
Introduction......................................................................................................................................4
Background......................................................................................................................................4
Core features and benefits of the opportunity..................................................................................4
Steps taken to test your idea among target market..........................................................................5
Size and profile of the target market................................................................................................5
Direct and indirect competitors.......................................................................................................6
Plans for promoting for proposed opportunity................................................................................6
Sales strategy...................................................................................................................................7
Finances required to fund the opportunity.......................................................................................7
Sources of finance for the proposed opportunity.............................................................................9
Financial statements.......................................................................................................................10
Contingency plans and risk assessments.......................................................................................15
Plans for managing the new business or the growth opportunity and Operational plans..............16
Legal or regulatory requirements...................................................................................................16
Conclusion.....................................................................................................................................17
3

Introduction
The following business opportunity is to open a multi cuisine Restaurant in UK as its is growing
industry and market both in the domestic as well as the international trend. The opportunity is to
open a multi cuisine restaurant in London and to generate good amount of revenue by customer
by rendering high quality services and products at a formidable price. The multi cuisine will be
named as Cravings and will be a multi cuisine restaurant, which will provide every type of and
range of diverse food products to their customers. It can be said that the number of customer for
a multi cuisine restaurant is high and the market size of the restaurant will thus be large as it will
be able to render both non-vegetarian and vegetarian food products, which will diversify the
range of customer, which the company will be available to.
Background
Restaurant industry and the restaurant market is one of the biggest revenue generating market all
around the world. There turnover is huge and the consumer base for such type of business is
huge which is a big opportunity for the entrepreneur to use and establish a affect restaurant
business in London UK. It can be said that as the firm will be multi cuisine restaurant the size of
the market which will be available to the company will be large which will financial benefit the
company and will provide exposure to the business in the market. The restaurant business is
opportunity for the entrepreneur to enter an significant and profitable industry and to operate in
the same (Scarborough, 2016)
Core features and benefits of the opportunity
The core features and benefits, which can be seen in the opportunity, are as follows:
1. The market is huge and there is huge amount of customers in the market which are
valuable to the company (Boiko, 2016)
4

2. The industry is in its growth stage the industry is growing on fast pace, which is
beneficial for the company’s future growth in the market, as the market will develop the
company, will develop.
3. The easy availability of materials and resources for this business is also a core benefits,
which can be received by the entrepreneur while operating under this industry.
It can be said that based on the above key features and benefits the company can do well in the
market after the start-up (Yu and Wiklund, 2015)
Steps taken to test your idea among target market
The steps that have been taken in order know the target market of the company is as follows:
1. Gathering data relevant to the target market for multi cuisine was conducted to know the
demographic aspects of the target market in the current market (Hopp et al. 2018)
2. Identification of the targeted using the relevant data we also performed through effective
evaluations of data which was collected through research process
3. Proper classification of the target market was performed to know the target market of the
company to ensure that the company is able know the population it has to target for
rendering services (Harrington, 2016)
Size and profile of the target market
Target market is the population, which the company will target for promoting their services and
will try attracting this population which will ensure effective operation of the firm in a
significant manner. It can be said that Cravings has diversified range of target market, which is
key feature of being a multi cuisine. It can be seen that in demographic manner people from 18-
45 are the highest population which are interested in eating out in some restaurants which will be
the main target market of the company. There are 65.5 million over 18 in the city which will be
5

the target market of the company and this shows the size of the target market which the company
has to attract for its operations. It can be said that in this way the company will be able to build
an effective consumer based in the market (Harrington, 2016)
Direct and indirect competitors
In every market, there are competitors, which have both direct and indirect competition of each
other. It can be said that for start-up firm it is important that competitors are identified to know
their strengths and weakness based on which the company is able to render effective services to
the customers in an efficient manner. It can be said that the firm has huge competition in the
market, as there are various companies and restaurants in the market. Although the range of
customer is high which will not affect the sale of the company but the major direct competitors
of the firemen are The blacksmiths arm and Jimmy’s Restaurant Wimbledon which are an
established restaurants in the multi cuisine segment. Direct competitors are the competent
operating in the same segment and having a direct impact of their competition to the business.
The indirect competition to the company is fast food companies and cafeterias like Subway,
McDonalds, Cafe Coffee day which derive a huge number of populations to their operations in
the market. They are considered as indirect competitors as because they do not working in the
same segment but has competitive effect of the firm indirectly by driving customers (Heslop and
Johnston, 2015)
Plans for promoting for proposed opportunity
Promotion and advertisement is one of the most crucial elements within a stray business. It can
be said that for making the following opportunity viable and successful the company will have to
promote and advertise the products and services of the company to attract the target market
towards the firm (Kusumaningrum and Hidayat, 2016). The advertisement and promotions of the
6

firm will be done through digital advertisement as because it is a prominent platform which can
be used for promoting and advertising the restrain. The social media and digital media user in the
city as well as the country is huge and thus is an effective media through which the target market
can advertised and attracted. Offline advertisement will also be done through leaflets and
banners. The company in the initial days will offer the discounts and complimentary dishes to to
promotes the services and attract the customers (Watson et al. 2018)
Sales strategy
The sale strategy of the company is very simple and is derived through two basic assumptions
that the consumer through promotion and advertisement will increase which will eventually in
the consumer base of the company. The sale strategy of the company is to render high quality
service and food to the customer at an formidable rates combined with a joyful ambience within
the restaurant to make the customers experience at the restaurant and joyful one this will help the
company to retain the customer. The company will also associated with some delivery system to
render home deliveries to customer order food online through various online ways such as Uber
eats which enhance the sales of the company and will give the sales of the company and
exposure in the market. The company will also be looking to provide stall of their flooding
various locations to increase sale of the food products provided by the company in the market
(Smith, 2018)
Finances required to fund the opportunity
The startup cost below will show the total amount of funds which will be required by the firm in
order to start the business in a efficient manner.
Start Up Cost
7

Particulars Amount Amount
Utensils £
1,200.00
Raw Materials £
30,000.00
Interior decoration £
6,000.00
Licensing fee £
5,000.00
Furnitures £
10,000.00
Machineries £
8

8,000.00
Equipments £
9,000.00
Lighting £
6,000.00
Begning cash
requirments
£
3,500.00
Offuce Supllies £
4,500.00
Total Startup Cost
required
£
83,200.00
Sources of finance for the proposed opportunity
There are various sources of finance, which are present to startup firm, and they are as discuses
below:
9

1. Debt finance: Debt finance is a source of finance in which the entrepreneur can take debts
from the available varying sources. There are a number of resources available in the
markets that provide the facility of financial debts.
2. Equity finance: It is one of the sources of finances in which the company could sell some
of its shares to acquires monetary value. However this benefit could only be attained by
the firm that are already existing
3. Venture capital: In this source of finance an external investor could be identified that
would make investment in the business venture activities.
Therefore, in respect to the new business venture of Cravings the entrepreneur should
consider venture capital for its major source funding. Since the startup, company could easily
get investors from the markets. As the investors, consider the start up options as an
opportunity for growth and development. Moreover, the entrepreneur would be able provide
easy return on the investments to the investors from the profit share value. In addition to this
the venture capital is more of an advantageous source of funding rather than any other
funding option.
Financial statements
Profit and loss statement of the company for year 1
Profit and Loss statements for Cravings
Partic
ulars
M
on
th
1
M
on
th
2
M
on
th
3
Q
ua
rte
r 1
M
on
th
4
M
on
th
5
M
on
th
6
Q
ua
rte
r 2
M
on
th
7
M
on
th
8
M
on
th
9
Q
ua
rte
r 3
M
on
th
10
M
on
th
11
M
on
th
12
Q
ua
rte
r 4
T
ota
l
10

Sales £
5,1
25.
00
£
18,
37
5.0
0
£
22,
50
0.0
0
£
46,
00
0.0
0
£
16,
18
7.5
0
£
5,6
25.
00
£
7,8
75.
00
£
29,
68
7.5
0
£
9,4
50.
00
£
10,
80
0.0
0
£
11,
47
5.0
0
£
31,
72
5.0
0
£
14,
62
5.0
0
£
16,
87
5.0
0
£
18,
00
0.0
0
£
49,
50
0.0
0
£
15
6,9
12.
50
Hom
e
delive
ry
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
30
0.0
0
£
30
0.0
0
£
30
0.0
0
£
90
0.0
0
£
3,6
00.
00
Cost
of
Good
sold
£
40
4.0
0
£
56
5.6
0
£
80
8.0
0
£
1,7
77.
60
£
1,4
14.
00
£
2,0
20.
00
£
2,8
28.
00
£
6,2
62.
00
£
3,3
93.
60
£
3,8
78.
40
£
4,1
20.
80
£
11,
39
2.8
0
£
5,2
52.
00
£
6,0
60.
00
£
6,4
64.
00
£
17,
77
6.0
0
£
37,
20
8.4
0
11

Gross
Profit
£
4,7
21.
00
£
17,
80
9.4
0
£
21,
69
2.0
0
£
44,
22
2.4
0
£
14,
77
3.5
0
£
3,6
05.
00
£
5,0
47.
00
£
23,
42
5.5
0
£
6,0
56.
40
£
6,9
21.
60
£
7,3
54.
20
£
20,
33
2.2
0
£
9,3
73.
00
£
10,
81
5.0
0
£
11,
53
6.0
0
£
31,
72
4.0
0
£
12
3,3
04.
10
Less
Expen
ses
Elect
ricity
Expen
ses
£
18
0.0
0
£
22
1.0
0
£
31
6.0
0
£
71
7.0
0
£
55
3.0
0
£
79
0.0
0
£
1,1
06.
00
£
23,
42
5.5
0
£
1,3
27.
00
£
1,5
16.
00
£
1,6
11.
60
£
4,4
54.
60
£
2,0
54.
00
£
2,3
70.
00
£
2,5
20.
00
£
6,9
44.
00
£
35,
54
1.1
0
Rent £ £ £ £ £ £ £ £
1,6
£ £ £ £ £ £ £ £ £
12