Foundation Business Essentials Report: Youth Sushi Business Plan

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Foundation Business Essentials – Introduction
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Table of Contents
Introduction................................................................................................................. 3
Task 1......................................................................................................................... 4
Task 2......................................................................................................................... 6
Task 3......................................................................................................................... 8
Task 4....................................................................................................................... 10
Conclusion................................................................................................................ 13
Reference List...........................................................................................................14
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Introduction
It is necessary for businesspersons to formulate an idea of a business before the
business is set. This will allow for effective utilisation of the resources available and
understanding the scope of the business and its profitability. The setting of a new
business requires the businessperson to analyse the business environment of the
region and think of an effective launch event that has the capability to draw in more
customers. The marketing plan of the business must also be realised before
establishment of business. This report aims to present an idea of a new business
(Youth Sushi) and the environmental analysis of the business. The launch event of
the business is explained, along with a marketing plan.
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Task 1
Part A
The name of the business is Youth Sushi, which is a Sushi shop that will be located
beside the gates of the University of Roehamption University. The business will be a
part of the food and beverages industry, and will provide freshly made Japanese
sushi to the customers. The shop will also provide various kinds of carbonated soft
drinks and sweets to the customers as desert options, while also providing soups
and fried fish as starters. The design of the shop and their food products will be
aimed towards attracting the youth, which refers to the university students, and
hence its etymology.
The USP of the store will be attractive Japanese styled decorations that will captivate
the artistic and cultural senses of the customers. Since the store is located beside
the gates of the university, it will not be a high-street business. It will have online
shopping facilities that will allow the students to order food from inside and outside
the university campus. The food served will also vary every day, with a different
menu for each day, including rotating dish designs every week. The staff of the
restaurant will also be wearing traditional Japanese clothing, along with Japanese
channels being displayed on the television.
The USP of the business and its location are set in a way that is beneficial to the
business because the youth of the UK, especially in London are more attracted
towards cuisine of other countries, with Japanese cuisine and pop culture being
popular (Ojo et al., 2015). The affordable prices of the dishes will also attract
customers, as university students prefer cheaper alternatives.
Competitors Reason
Yo! Sushi Yo! Sushi is a widely popular sushi outlet in London and the UK,
which serves their dishes in conveyor belts. It is one of the largest
sushi food chains in the UK and in many parts of the world.
Sushi Waka Sushi Waka have established their business in providing sushi
lunchboxes at affordable prices. The lunchboxes are priced around 8
to 10 Pounds, so that it can remain affordable to the public.
Chotto Matte Chotto Matte provides Sushi with added Peruvian themed dishes and
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decorations. This gives the business the opportunity to cater a wide
variety of flavours and tastes that would otherwise not be possible
without cuisine fusion.
Table 1: Competitors of the Business
(Source: Created by the learner)
Part B
The objectives of Youth Sushi are:
 To provide Sushi at affordable prices to the customers, which will mostly be
young university students
 To aggressively campaign the products and services provided by the
restaurant
 To generate steadily increasing sales to gain maximum market share as fast
as possible
 To establish more outlets in the future once the business develops and attains
a secure profitability
The business will be a sole proprietorship business, consisting of one business
owner, a chef, a few cooks, and other personnel like dishwashers. A sole
proprietorship business is overseen and operated by one singular entity, who is
responsible for taking all the necessary decisions regarding the business. The profits
of the business will also be entirely of the owner, since there are no business
partners to share the profits (Segal and Choi, 2016). It is also easier to operate,
since the scale of the businesses is generally smaller and is easier to be managed
by a single person.
The main advantages of sole proprietorship in this form of business are:
 There will be no profit sharing due to there being no partners. The proprietor
can own all profits, and this can help him or her measure the profitability and
sustainability of the business easily (Shaw and Sørensen, 2017).
 The establishment of sole trader businesses is easier compared to other
forms, as less legal paperwork is required (Babajana and Phillips, 2015).
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Task 2
Particulars Explanation Impact and Significance
Political Political factors such as Brexit,
changes in the political parties
and governmental policy for fair
trade affect UK business. Due to
Brexit, the employees of the UN
are being drawn out of the UK.
The lowers subordinate strength
of UK businesses (Clarke et al.,
2017).
In case a large number of
employee move out of the UK,
this would present Youth Sushi
from performing optimally as
they would not be able to
perform well without
subordinate backup.
Economic Economic changes in UK
include factors such as a rise in
the inflation rate by 2.5%,
increase in the unemployment
quantity and others (Malmendier
and Nagel, 2015).
The rising unemployment rate
indicates that Youth Sushi
would able to cheaper rate
labour however; the increased
inflation indicates that the
company would be required to
pay higher for goods.
Social The birth rate in the UK has
increased by 1.80% from the
last year. This indicates that that
overall population of UK would
cross over 6.6 million as of the
current year.
The elevated consumers’ levels
help Youth Sushi to target a
bigger target audience for the
future.
Technological There has been huge
development in the automation
technology in UK. Currently,
there are machines that would
help business cut, process and
preserve meats and other food
ingredients for a longer period.
The higher number of
automated machines gives
Youth Sushi employers the
scope of creating uniform
products that have similar
quality.
Legal Several legislations are present Regulations such as the
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in the United Kingdom which
help there be better governance
established. These regulations
include acts such as the
Employment Act 1946,
Competition Act 2002 and
others (loc.gov. 2018).
Regulations such as this help
there be lower illegal activities.
employment act enforce Youth
Sushi employers to give fair
treatment to employees. In
addition to this, it would lower
any type of organisational
discrimination.
Environmental Multiple negative environmental
phenomenons are present that
are contaminating the
environment of UK. Global
warming, green house effect,
ozone depletion and some of
the phenomenon that is
prevalent.
Since Youth Sushi relies on the
produce, which is given by local
farmer factors such as this
negatively affect the diet and
lifestyle of animals as they are
exposed to higher
contaminations.
Table 2: PESTLE Analysis
(Source: Created by the learner)
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Task 3
Part A
The business will hold a special launch event to introduce the customers to the
products and services offered by the restaurant. The launch event will be held on 2nd
October 2019, inside the shop itself, which will have a customer holding capacity of
maximum 30 people. The event will start at 12pm in the afternoon. The promotional
activities for the launch event will be done starting from two weeks before the launch
event. This period will provide enough scope for the business to communicate the
information about the launch event to the relevant parties and potential customers.
The advertisements for the launch event will be done through the help of print media
like fliers and social media campaigns. The fliers will be distributed to the students in
the university campus and near the campus. Social media posts in Facebook,
Twitter, and Instagram will also be provided for more reach.
The main event will consist of famous sushi chef Shia Jia Tian, demonstrating the
process through which sushi is made, its health benefits, and will serve specially
made sushi to the customers that are present during the event (Great British Chefs,
2019). The sushi that will be cooked by the chef will be especially available at a
discounted price so that more customers can be attracted on the launch event. The
people that are present during the event will also receive complimentary sweets and
carbonated drinks as refreshments. The presence of the chef will be crucial for the
success of the launch event as the chef is a world-renowned sushi chef and food
that is freshly made by him is bound to please customers. Customer satisfaction is
important, as satisfied customers are more likely to promote the name of the
business through social media posts and word of mouth (Saeidi et al., 2015). The
spending on the launch event will be kept low to focus on lesser expenditure in the
first few months of the business, giving it time to be profitable and lower operational
costs.
Part B
The budget plan for the launch event is shown as follows:
Expense Amount (in £)
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Food and Beverages 1501
Decorations 802
Special Guests (Chef) 803
Advertisements 454
Staff Wages 455
Total 400 £
Table 3: Budget Plan for Launch Event
(Source: Created by the learner)
1 The food and beverages is calculated by taking into account 30 people present, with
an estimated budget spending of £5 Pounds per person.
2 The decorations will consist of Japanese themed lighting and paintings on the walls,
along with some extra decorations like confetti.
3 The charge for hiring chef Shia Jia Tian for eight hours is estimated at an
approximate value.
4 Advertisements will be done with the help of the print media (fliers and posters) and
the social media (Facebook, Twitter, Instagram).
5 There will be five staff members, each with a wage of £9 Pounds, as per minimum
wage regulations.
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Task 4
Marketing objectives
The marketing objectives of the business are:
 To advertise the products and services provided by the restaurant
aggressively through digital media channels that meet modern advertising
standards
 To provide high quality sushi and other food products at low prices for
affordability
 To increase the market share of the business in the first six months through
effective market strategies to establish the business in the competitive market
Target Markets
The application of the STP (Segmentation, Targeting, and Positioning) model can be
used to explain the target customer markets. The customer segments that are
available to the business are the demographic and the geographical segments.
These two segments are the most approachable because the business is targeted
towards the youth and the younger demographic range, along with a geographical
range close to the shop. As for targeting, the demographic ranges of 18 to 29 years
are targeted as they are considered as the youth, along with a geographical range of
three-mile radius around the shop (Camilleri, 2018). These two markets will be
targeted, as they will be mostly consisting of young university students. The products
will be positioned as a high quality but affordable sushi fast food stall, with exquisite
Japanese themed dining.
Marketing strategies for each target market
In order to communicate with the target customer base in an attractive manner, the
trends, and behaviour of the customer needs to be understood. The target market of
the business is the youth, with a demographic range of 18 to 29 years of age. Social
media marketing will be essential for advertising to the customers as the youth of this
era spend most of their time browsing their social media accounts. Online shopping
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will also be available, as many of the customers will prefer to order the food directly
to their homes (Vromen et al., 2015).
Marketing Mix
Element Description Justification
Price The sushi dishes will be
priced at a range of 3
Pounds to 5 Pounds. The
refreshments like sweets
and carbonated
beverages will vary
around 1 Pound.
The price of the products
are kept low so that it can
attract most target
customers, who are
expected to be college
students with lesser
disposable income (Nagle
and Müller, 2017).
Product Various kinds of sushi
dishes will be sold freshly
cooked, along with non-
alcoholic beverages and
Japanese sweets.
A Japanese styled
restaurant near a
university campus is not
very common in the UK,
especially one that sells
their products at cheaper
rates. The exotic dishes
available have the
capability to attract a
large number of
customers (Ojo et al.,
2015).
Place The dishes will be served
freshly cooked on order,
and can be ordered
online through the
telephone number of the
restaurant.
Sushi is best served hot
and freshly cooked, as it
retains the taste of the
fish the best (Hoang and
Nguyen, 2019). However,
online availability of the
dishes are also
guaranteed to satisfy the
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customers who ate not
able to come to the store.
Promotion The products will be
advertised through the
help of fliers, posters, and
online digital media
channels.
Since the target
customers are the youth
and university students,
they are more likely
expected to notice
advertisements in digital
platforms (Vromen et al.,
2015). Fliers and posters
will be distributed around
the university campus for
maximum reach.
Table 4: Marketing Mix of Business
(Source: Created by the learner)
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