UKGov2019: Business Plan for 'Your Story' Restaurant in London

This business plan outlines the establishment of 'Your Story,' a health-conscious restaurant in London's South Bank area, catering to health-conscious individuals of all ages. Owned by George Mathew and operating as a sole proprietorship, the restaurant aims to provide quality, healthy meals at reasonable prices, projecting weekly sales of over £15,000 and annual sales exceeding £780,000. The plan details the restaurant's mission, vision, and values, emphasizing gratitude, mindfulness, and customer service. It includes a market analysis, highlighting the target customer base (families, couples, business professionals, and tourists), competitive advantages (location, health-conscious offerings, and economical pricing), and marketing strategies. The plan further describes the restaurant's menu, featuring healthy options like avocado toast, scrambled egg toast, and quinoa bowls, while also addressing operational logistics, costs, pricing strategies, and financial forecasts, with a startup cost estimated at £360,000, funded through owner's savings and a bank loan.

Outline Business Plan
(UKGov2019)
The Business Plan
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Business and owner details:
The businesses will be established as a restaurant for health conscious people. The name of the
restaurant will be 'Your Story'. The cafe will aim to provide food products that are healthy and
for all age groups. The owner will be George Mathew and the business will be operated under a
sole proprietorship. The business will be located in London South Bank Area.
Business name:
The name of the restaurant that will be established as business will be “Your Story”.
Owner(s) name:
The name of the owner is George Mathew.
Business address and postcode:
The address of the business is as mentioned below.
Your Story, South Bank area,
London.
Post code- SE1
Business email address (expected):
[e-mail]
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Section one
Executive summary
“Your Story” will be basically a moderate priced restaurant that will be offering healthy food to
its customers established as a health conscious restaurant for the people living in the UK. The
restaurant will also offer speciality selections that include lighter options and smaller options. In
order to establish the business, The organisation will lease a foot space of 3000 square foot. The
main objective of the business will be to provide healthy food to its customers in order to attract
and generate revenues. The aim of the restaurant will be to provide the quality meals at
reasonable prices to its customers. The sales projections assumes visit of approximately 1000
customers per week. This is more likely to result in weekly sales of over £ 15000 and over £
780000 on an annual basis. The start up cost for the restaurant business by the name is estimated
at £ 360000.
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Table of Contents
Section one ......................................................................................................................................3
Executive summary.....................................................................................................................3
Introduction......................................................................................................................................5
1.1 Business summary:................................................................................................................5
Elevator Pitch..............................................................................................................................6
Owner’s background...................................................................................................................7
Section two.......................................................................................................................................9
Products and services..................................................................................................................9
Section three...................................................................................................................................11
The market................................................................................................................................11
Market research.........................................................................................................................13
Marketing strategy....................................................................................................................13
Competitor analysis...................................................................................................................15
Section four....................................................................................................................................18
Operations and logistics............................................................................................................18
Section five....................................................................................................................................21
Costs and pricing strategy.........................................................................................................21
Financial forecasts.....................................................................................................................23
REFERENCES..............................................................................................................................26
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Introduction
1.1 Business summary:
“Your Story” will be established a health conscious restaurant for the people living in the UK. It
will be basically a moderate priced restaurant that will be offering healthy food to its customers.
The restaurant will serve varieties of healthy food such as Broasted Chicken, Pot roast, Steaks,
wraps, generous salads. The restaurant will also offer speciality selections that include lighter
options and smaller options. The owner of the business will be George Mathew and the business
will be established under a sole proprietor business. The business will be established at South
Bank area, London. In order to establish the business, The organisation will lease a foot space of
3000 square foot. The site of the restaurant was previously owned by a hospitality business and
thus will require minor renovation. The décor of the business will feature wooden based interiors
with comfortable seating (Alonso-Vazquez, del Pilar Pastor-Pérez and Alonso-Castañón, 2018).
1.2 Business aims:
The objective of the restaurant “Your Story” will be as follows-
 The main objective of the business will be to provide healthy food to its customers in
order to attract and generate revenues.
 The aim of the restaurant will be to provide the quality meals at reasonable prices to its
customers (Blackwell, 2017).
 Further the aim of the business in terms of revenue will be to achieve prime cost ratios
lower than 65%.
1.3 Financial summary:
The sales projections assumes visit of approximately 1000 customers per week. This is
more likely to result in weekly sales of over £ 15000 and over £ 780000 on an annual basis. This
can further be stated that it is expected that per square foot sales of Your story will be £ 500 and
thus it can be considered as a profitable business and is likely to turn into a good investment. The
start up cost for the restaurant business by the name is estimated at £ 360000. The source of
funds that will be used by the organisation will be owner's funds and the bank loan as well. In
order to start the business, £ 170000 will be the owner's contribution from his savings and the
rest will be procured through the source of a bank loan (Cadena And et.al., 2020).
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Elevator Pitch
1.4 Your business name:
The name of the business will be “Your Story”.
1.5 Strapline:
The strapline for the business will be “Eat Fit Stay Fit”.
1.6 Mission Statement:
The mission of “Your Story” will be to provide a unique and relaxing dining experience to its
customers and provide them experience of food that just feels like home and is appropriate for
the health conscious customers. In order to accomplish the goal, 'Your Story' will aim to provide
menu items that are high in quality ingredient and that meet with the demand of the health
conscious customers. Another Mission of the organisation will be to treat each and every staff as
well as customers with utmost dignity and respect (DeNoble and Zoller, 2017).
1.7 Vision Statement:
The vision of 'Your Story' has been discussed as below.
 Gratitude- The organisation will work in order to have gratitude at the work place that
will be shown to the customers, employees as well as various vendors of the organisation.
The gratitude is important as without the input of these people the business can not
succeed as per the requirements.
 Being mindful- The organisation will aim to be mindful of its customers as well staff.
The organisation will focus upon coinciding with the family values while further treating
the staff and customers in a way, they themselves need to be treated.
 Services- The focus of 'Your story' will be upon providing a warm and friendly service to
its customers that is expected from a relaxing restaurant that aims to provide an informal
as well as comfortable environment that aims to keep the customers satisfied and revisit
the organisation (Ekanem, 2017).
In this section add photo’s and visual information on your product:
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Owner’s background
2.1 Why do you want to run your own business?
The motive behind establishing my own business is to have financial stability while working as
an entrepreneur. The main objective of my business will be to provide healthy food to its
customers in order to attract and generate revenues.
2.2 Previous work experience:
I have been working in the hospitality industry since 7 years before establishing the business. I
have also been a part of training program under the hotel management course (Finch, 2019).
2.3 Qualifications and education:
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Course Subjects Institution Year
MSc Hospitality and
tourism Management
University of
Hertfordshire
2011
BA Hotel Management Oxford Brookes
University
2009
2.4Training:
I have completed my training under the following heads-
I have completed my training under hotel management as a part of internship programs (HAN
and Kang, 2020).
Details of future training courses you want or need to complete:
I have been planning to work upon various soft skills. In order to improve my soft skills I am
looking forward upon opportunities like Time management skills, presentation skills, etc.
2.5 Hobbies and interests:
My hobbies are-
 Travelling
 Watching Movies
 Cooking
2.7 Additional information:
I am looking forward to expand my business in the coming five years by opening at least two
more outlets under the same name (Hanák and Grežo, 2020).
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Section two
Products and services
Describe the products and / or services to be provided by the proposed business
Avocado toast with Egg
(Egg brown bread toast, avocado)
219 low cal 23 g carb 8 fat 12 g pro
Scrambled egg cheese Tomato toast
(Egg white scarmbled. Cheese, tomato & brown bread)
212.6 low cal 21g carb 8.2 fat 12g pro
French Toast
(Secret soaked French Brioche Bun with fresh fruits and ice cream on the side)
118 cal 24.6g carb 0.6 fat 3.2g Pro
Quinoa Breakfast bowl
(Mix Quinoa, fried egg, Grill tomato, Grill mushroom)
380 low cal 56g carb 10 fat 18g pro
3.1 What are you going to sell?
The restaurant, “Your Story” will focus upon healthy products that deal in providing meals in
accordance with the health conscious mind of the customers. The restaurant will focus upon
healthy food of various cuisines along with healthy beverages. The restaurant will focus upon
providing efficient customer service (Hopp and et.al., 2018).
3.2 Describe the different types of products and service you are going to be selling:
The various products that will be served by Your story will be Avocado toast with Egg,
Scrambled egg cheese Tomato toast, French Toast, Quinoa Breakfast bowl. The Avocado toast
with Egg comprises of Egg brown bread toast, avocado and its has 219 low cal 23 g carb 8 fat 12
g pro. Scrambled egg cheese Tomato toast comprise of Egg white scarmbled. Cheese, tomato &
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brown bread will have 212.6 low cal 21g carb 8.2 fat 12g pro. The French Toast comprise of
Secret soaked French Brioche Bun with fresh fruits and ice cream on the side which has 118 cal
24.6g carb 0.6 fat 3.2g Pro. Quinoa Breakfast bowl comprise of Mix Quinoa, fried egg, Grill
tomato, Grill mushroom and has 380 low cal 56g carb 10 fat 18g pro.
3.3 Additional information:
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Section three
The market
The restaurant belongs to the hospitality industry where the competition is quite stiff. There are
various competitors of Your Story restaurant that leads to sharing of the market share and has an
impact upon the profits of the business. Hence it is very important to establish a differentiated
image.
4.1 Are your customers:
individuals
businesses
both
4.2 Describe your typical customer (e.g. customer demographics and profiling):
The typical customers of “Your Story” restaurant which is a hospitality organisation, includes
families, couples, businessmen and businesswomen as well as tourists. The tourists can be
domestic as well as international. The focus of the organisation is upon the customers who fall
under the age group of 15 year and above and who belong to middle class and richer section of
the society (Matović, 2020).
4.3 Where are your customers based?
The customer base for restaurant business is likely to be domestic as well as international tourist.
The location of the restaurant is likely to have a huge footfall of tourists and hence in that case
the restaurant enjoys the customer base of London as well as the foreign tourists.
4.4 What prompts your customers to buy your product/service (e.g. needs and wants!) ?
The factors that prompt the customers to choose “Your Story” for their products and services are
that the business aims to offer healthy food choices to its customers. The customers looking for
healthy eateries can have the best services from the restaurant (McKenzie and Sansone, 2019).
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4.5 What factors help your customers choose which business to buy from (e.g. what is the
basis of competitive advantage?)
The factors that help the business to have a competitive advantage have been discussed below.
 Location- The restaurant, “Your story” is established at a location that is quite rich in the
customer foot fall. The visitors at the location comprises of local residents as well as
tourists. Hence this is a factor that will help the organisation to gain the competitive
advantage.
 Health consciousness- The customer have been quite health focussed nearly and 'Your
Story' has been successful in grabbing the opportunity to turn it into the strength.
 Economical- Another factor that has helped the organisation to gain the competitive
advantage is that the organisation has focussed upon economical pricing and kept the
prices low without compromising with the quality.
4.8 Additional information:
The restaurant will have a soothing ambience that will provide a comfortable seating to the
customers along with soft music.
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