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
1

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]
2

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.
3

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
4

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).
5

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:
6

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:
7

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).
8

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 &
9

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:
10

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).
11

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.
12

Market research
5.1 Key findings from desk research:
There are basically two types of desk research, primary research as well as secondary research.
The restaurant business was established while keeping in mind the findings from primary as well
as secondary researches.
5.2 Key findings from primary field research – e.g. customer questionnaires:
The key findings from the primary research have been discussed below.
 With the growing concern of diseases, the people have been more conscious towards
healthy eating.
 The pandemic has made people to have a healthy diet in order to cope with obesity (Moro
Visconti, 2019).
5.3 Key findings from any other research – :
The key findings from the desk research are-
 The hospitality sector has been at its peak and is an evergreen industry.
 The contribution of the hospitality organisations like hotel, restaurants, cafes etc. has
been quite considerable in the economy growth of the United Kingdom.
5.4 Additional information:
In addition to the above research, it was also analysed that the location that is being chosen for
the restaurant is quite appropriate due to the high customer footfall (Tokarski, Tokarski and
Wójcik, 2017).
Marketing strategy
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6.1 What is your marketing ‘positioning’ objective and why (e.g. what is the perception of
your business you want the customer to have) and how will you generate this?):
It is an ideology of the customers that the food at home is healthier in comparison to the
restaurants. Hence, The focus of “Your story” will be to position themselves in a restaurant that
provides healthy and high quality food that is prepared with wholesome ingredients in order to
fulfil the food demands of the population.
What are you going to do to achieve
this market positioning?
Why have you chosen this
marketing method?
How much will
it cost?
Social media advertising
The motive behind choosing the
social media advertising is that the
customers have been quite techno
savvy. Further the social media
platforms facilitate enhance
engagement with the customers.
The social
media
advertising
costs
approximately £
0.80 per day
through a single
platform.
TOTAL COST
£ 15000 can be
estimated as the
total
advertisement
cost for social
media
advertising.
14

Competitor analysis
7.1 Table of competitors
Name,
location
and business
size
Product/
service
Price Strengths Weaknesses
Bala Baya Aubergine
Shakshuka,
Lamb Parcel
Shakshuka, Pita
Melt
£40 Middle eastern
heritage
The restaurant
focuses upon a
specific
segment only.
Aubergoo
Waterloo
Assiette de
Charcuterie
Assiette de
fromages
£34 French Cuisine
Loyalty
discounts
Competitors
7.1 Competitors and your business positioning map
Higher Price
Aubergoo Waterloo Bala Baya
Your story
15
Lower Quality High Quality

Lower Price
7.3 How and in what way is your operation more innovative than the competition?
The business is different from the competitors in the following manner.
 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 (Watson
and McGowan, 2019).
 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.
7.4 Why will customers choose your operation over the competition?
The customers can choose our restaurant as we aim to provide best services to our customers.
Also, the ambience is considerably calm and soothing.
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7.2 New Business SWOT analysis :
Strengths
 New and refreshing concept in the
locality
 Health consciousness
 soothing environment and ambience
Weaknesses
 Low visibility and exposure
 Lesser varieties
Opportunities
 Health conscious trend among the
population
 Loyal customers
 Location has a high footfall
Threats
 Competitors offering at home delivery
and takeaways
 Competitors offer variety
7.4 Unique Selling Point (USP):
Unique Selling Point (USP)
The unique selling preposition of 'Your story' is that it is offering healthy and balanced diet
food options to its customers at economical rates.
Future development – how will you look to develop your concept in the future to remain
competitive?
In order to develop the business in future, the organisation can focus upon opening few more
outlets in future. Also, the restaurant will make efforts to bring in new innovations and
introduce new cuisines in order to remain competitive.
17

Section four
Operations and logistics
8.1 Production:
In order to have a smooth flow of operations at the business organisation will focus upon having
supply of raw materials on contract basis. The fruits and vegetables for the business operations
will be bought through local vendors. The dairy and meat products will be attained on contract
basis. The groceries will be checked on weekly basis and the crockeries and utensils will be
upgraded as per the needs (Watson, McGowan and Cunningham, 2018).
8.2 Delivery to customers:
In the starting phase of the business, the restaurant will focus mainly upon the dine in facilities
and takeaways. In future, the restaurant can expand its business towards home delivery and third
party alliances as well.
8.3 Payment methods and terms:
The payment methods that will be supported by the restaurant business are cash, cards as well as
digital payments.
8.4 Premises
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
18

the business will feature wooden based interiors with comfortable seating. The business will be
established at South Bank area, London.
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. 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.
8.5 Equipment
If being bought
Item required Already
owned?
New or second
hand?
Purchased from Price
Physical space No Second hand On lease 3000
Inventory Partial Second hand Distributor 15000
Equipments Yes New Wholeseller 10000
8.6 Legal requirements:
“Your Story” will require to comply with various legal and regulatory obligations at the
restaurant. It will be essential for the organisation to register itself with the local environmental
health department. The local health department will be responsible for looking after the food,
safety and hygiene regulations. Also Your Story will be required to hold various licenses that
have been discussed below.
19

 A premise license is required to be issues if the organization is supplying the food during
the late hours and it will be issued by the local licensing authority
 A personal license is issued by local licensing authority to the person who is assigned as a
responsible person to monitor the operational activities of the business
 A PPL PRS license needs to be issued to the hospitality businesses in case the restaurants
are using copyright music for the background music
8.7 Insurance requirements:
The restaurant is required to comply with various obligations in terms of insurance policies. The
various insurance requirements for operation of “Your Story” have been discussed below.
 Employer's liability insurance- The hospitality organisations that deal in food and drink
businesses are required to have their liability covered as insurance. The environment of
restaurants is quite prone to various risks from kitchens to factories, offices as well as
restaurants. In situation where, the employees tend to injure themselves, there is a
requirement of compensation that is paid to the employees.
 Business content insurance- The business content insurance is an insurance that aims to
cover the loss in aspect of production appliances, equipments as well as business fixtures.
8.9 Management and staff:
The restaurant business, 'Your Story' will be needing 3 full time baristas along with two part
time baristas. The remuneration of the employees will be in accordance with the industry
standard wages. The employees will require appropriate training in context of the body language,
posture, expressions, communication skills, etc. The employees will also be provided with ample
training regarding products, interior, etc.
20

Section five
Costs and pricing strategy
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.
Meny item name Avacado toast with egg
A Number of units in calculation 10
B
Menu components (ingredients)
Egg, brown bread toast, avocado
Ingredients cost
£ 90
C Total menu cost £ 100
D Cost per menu item sold £ 10
E Selling Price per menu item £ 21
F Profit margin of menu item (E-D) (£) £ 11
G Profit margin of menu item (E-D) / E
(%) 52.38%
21

9.2 Additional information:
It can be identified that the organisation is focussing upon basic products that are highly
in demand. Hence, the cost of the product will be low which further result in higher profits as
well.
22

Financial forecasts
10.1 Sales and costs forecast
Income statement Year 1 Year 1 trading
Operating costs
Number Visitors per year 4500000
Target market % 6.00%
Total Target market 270000
Target market % using operation 30.00%
Total Target market using operation 81000
Weekend % business 60.00%
Weekday % business 40.00%
Weekdays
Average spend £ 7.50
Number customers total 32400
Days trading 100
Number customers daily 324
Total £243000
Weekends
Average spend £ 8.50
23

Number customers total 48600
Days trading 250
Number customers daily 194
Total £ 413100
Sales £ 656100
Sales less VAT @ 20% £ 131220
£ 524880
Cost of goods sold 30.00%
24

10.2 Identify potential risk to any continued success and sustainability of the hospitality
organisation in the future
The various risks that have been identified in aspect of Your story have been discussed
below-
 The restaurant is consistently under the risk of unsuitable location that can hinder the
business operations.
 The high rents are threat upon the business as they have the tendency to hinder the
profit of the restaurant.
 The restaurant will require a consistent monitoring of customer service and
management as they have a huge role to play in revenues and profits.
 The organisation also has a risk of return in aspect of investments as they have a high
tendency to set back the profits.
25

REFERENCES
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