Yummy Rescafe: Managing Enterprise in 21st Century Business Plan UK

This report presents a detailed business plan for "Yummy Rescafe," a small-sized restaurant with a cafe located in London, UK. The plan covers various aspects critical for launching a successful business, including a company overview, product and service offerings focusing on Swedish and Peruvian cuisine fusion, a thorough market audit using PEST and SWOT analysis, target market identification through STP framework, a comprehensive marketing plan incorporating the 7Ps, a description of the management team, and a financial plan emphasizing efficient resource utilization. The aim is to create a unique dining experience, attract a diverse customer base, and achieve high-value market positioning.

Managing Enterprise
in the 21st Century

EXECUTIVE SUMMARY
Every person wants to get success in their life. For that purpose, they are studying and
doing jobs. But it is found that doing a self business is one of the best options for success. It
is very crucial for an individual to understand that they need to do a business independently
who helps to become confident and get success in the future. This report includes a detailed
business plan which is very important for an individual who wants to start a business.
Without a business plan, it is not possible for an individual to become successful in the
launching of a new business.

Table of Contents
EXECUTIVE SUMMARY........................................................................................................2
INTRODUCTION......................................................................................................................4
MAIN BODY.............................................................................................................................4
Business/Company Overview................................................................................................4
Product and Services..............................................................................................................4
Market audit...........................................................................................................................5
Target Market.........................................................................................................................6
Marketing Plan.......................................................................................................................7
Management Team.................................................................................................................8
Financial Plan.........................................................................................................................8
CONCLUSION..........................................................................................................................9
REFERENCES.........................................................................................................................10
Books and Journals:.............................................................................................................10

INTRODUCTION
This report aims to build an innovative business plan that assists an individual to
achieve their target goals and objectives (Fichter and Tiemann, 2020). In this report, all the
important elements will cover which required making an effective business plan. Currently,
the hospitality industry is running its business very well and that’s why this business plan is
for a small-sized restaurant that includes a cafe also. This business plan will cover an
overview of the company, products and services, market audit, target market, marketing plan,
management team and financial plan.
MAIN BODY
Business/Company Overview
The name of a new restaurant is “Yummy Rescafe” which is located in the high street
of London, UK. To start a new business, a fine dining restaurant is chosen with a capacity of
50 seats. It will also include a small cafe that provides casual dining to the customers so that
restaurant is able to attract all the customers. They are targeted to each type of customer who
wants to enjoy a cafeteria moment or fine dine restaurant (Watson, McGowan and
Cunningham, 2018). It is an LLC which have a total of 5 members. It includes 2 founders and
2 chefs and the remaining 1 is for cleaning tables and the surface of the restaurant. This
restaurant is designed for combining an atmosphere, knowledgeable and friendly staff and
menu varieties. This will create a unique experience for customers and is really helpful to
reach the goals and objectives of high-value in the market. To attract the best team, the
restaurant is planning to spend more on petrol as a gross margin is comparatively higher than
the industry average. In addition to this, estimated growth for the first two years is moderate.
Product and Services
This is the business plan of a restaurant that provides excellent products and services
to the customers so that they are able to satisfy their customers. The ultimate objective
of Yummy Rescafe is to maximise the satisfaction of customers. Yummy Rescafe is
preparing an excellent quality of food items which is mainly focusing on Swedish and
Peruvian and their fusion also. In addition to this, there is a small cafe which is mainly
focusing on serving the best quality of fast food and their fusion with vegan food products. It

is very important for the restaurant to provide the best quality of food products so that they
can abide by all the health and safety-related laws.
Market audit
The restaurant can become successful only when they are making the best business
plan which fits their business. For that purpose, it is very crucial for them to do a market audit
(Jukova and et.al., 2019). The market audit is found to be important as it helps an
organisation to identify the trends and needs of the market. If the restaurant wants to survive
in the market, then it becomes very important to do a market audit. It can be done with many
tools and techniques such as PEST analysis, SWOT analysis, etc. These tools are necessary
for the development of an effective business tool.
PEST
PEST is an important tool that provides a great impact on the marketing process.
When a restaurant needs to do marketing then it becomes very crucial for an organisation to
analyse the internal as well as external environment (Cant, 2018). This tool is very effective
in order to understanding the market growth or decline.
 Political: It is a small size restaurant so they have fewer restrictions of government. It
is identified that there are many political factors that need to be considered by
companies so that they can run their business in an effective way. But in the case of
small size organisations, it is found that UK Government provides many types of
subsidies which make the business easy to do.
 Economical: After the pandemic situation, it is identified that the economic situation
of the country is declining as the purchasing power of the individual is become low.
Now people are not able to afford expensive products so that's why this restaurant is
providing food items at reasonable prices.
 Social: Every day it is identified that the taste and preferences of customers are
changing continuously which becomes a challenge for organisations (Villanueva and
et.al., 2020). The company need to understand the needs and wants of customers in
order to survive and run their business in the market.
 Technological: Technological factors are providing a direct impact on the
productivity and efficiency of the company. It becomes necessary for each
organisation that they need to update their technologies so that they can run their
business in an effective way. Updated technologies make the business easy and

employees are able to perform their duties and responsibilities in a more effective
manner.
SWOT
SWOT analysis is a tool that is used to evaluate the strengths, weaknesses,
opportunities and threats of a business so that it can develop its plan in order to move forward
(Puspita, 2019). It is found that SWOT analysis is playing an important role in the process of
effective marketing audit. If the organisation has already possessed the information then they
are able to do the market research.
Strengths Weaknesses
 It is a small size organisation so they
are enjoying the subsidies and grants
from the government.
 Yummy Rescafe is providing both
restaurant and cafe experience to the
customers so it increases the chances
of their success.
 They have less experience of the
market so it becomes a weakness for
them.
Opportunities Threats
 The restaurant has an opportunity to
become a market leader with the
help of making the best business
plan.
 There is a big threat of competition as
it increases every day especially in
this sector.
Target Market
It is very important for an organisation to search their target forget so that they can
make a plan accordingly (Almeida and Santos, 2018). For that purpose, STP is found to be an
appropriate framework that is really helpful for segmenting, targeting and positioning the
market.
 Segmentation: It is found to be the first and foremost step in which restaurant needs
to divide the whole market into segments so it becomes easy for them to target their
market. It can be segmented on the basis of demographic, psychological, etc.

 Targeted: The restaurant wants to cover all ages of customers and because of that
they need to target every customer above the age of 12. The reason behind this is
restaurant provides a cafe and fine dining restaurant facility to the customers which
can enjoy to customers who are above 12.
 Positioning: It is found to be an important process in which organisation needs to
provide a reason to the customers that why they are choosing their restaurants. It can
be done with the help of effective marketing.
Marketing Plan
A marketing plan is very important in order to do run a restaurant in the new market
(Marques, 2021). For a new business, it is found that each market is new for them and that's
why it becomes crucial for a restaurant to make a marketing plan which solves their problem.
It should include the following elements:
 Product: The first thing which needs to be ensured is that the product and services to
be decided by an organisation which they will offer to the customers. It is identified
that the product is situated at the centre of marketing mix elements.
 Price: The price is playing an important role in order to attract customers as today's
customers are focusing on the products which have good quality with reasonable
price. In the case of Yummy Rescafe, it is identified that they are providing fruit
products with good quality and reasonable prices.
 Promotion: Promotion is found to be the most important factor or element which is
really crucial for successful marketing strategies. It includes advertising, in-store
promotional activities and direct marketing. Currently, restaurants are mainly
focusing on social media groups and online events as they know the importance of
digital marketing.
 Place: Place is necessary to discuss where they sell their products and services to the
customers. It is important to note that places should be chosen where people are easy
to access.
 People: It is identified that excellent customer service is found to be crucial as it not
only convert to sales but similarly increases the customer base by referrals. So that's
why it is important for the restaurant to have fully trained sales professionals which
are able to solve the problems of customers.

 Process: It makes sure by the restaurant in process of delivering the product and
services to the consumer should be designed with maximum reliability and efficiency
so that they are able to enjoy the products and services.
 Physical evidence: Physical evidence is related to the proof where an organisation
proves that they exist in the market. So restaurant needs to do branding and packaging
in a more effective way.
Management Team
The management team of Yummy Rescafe has two people who are responsible for
managing all the operations and functions of a restaurant. They are making sure that each and
every activity should be performed according to the plan (TOMASSONI, 2019). In addition
to this, it is also found that the management team of the restaurant ensure that all the activity
e should be implemented according to the plan so that they can achieve their desired goals
and objectives. It is found that the management team is playing an important role in the
success and growth of any business. This is the main reason that the management team
should not be biased. With the help of managing all tasks and duties, the restaurant can easily
g opportunities to attract more and more customers to their business.
Financial Plan
Financial plan is found to be important in today's business environment. It is
identified that every day the resources are limited and it becomes crucial for restaurant to use
their financial resources in an effective way so that they can achieve their goals and
objectives (Sládková, 2019). It is important to note that all the financial resources should be
used effectively which makes the high return. Yummy Rescafe is found that they are focusing
on using less borrowing so that they cannot pay interest. It becomes very crucial for them and
because of that they also used many other financial sources such as retained earnings, friends
and family, loans, etc.

CONCLUSION
It can be concluded from the discussion of the business plan of a new restaurant that it
is very important for an individual to make an effective business plan as it makes success
easy. For the successful launch of a new business in the competitive and complex market, it is
identified and analysed that an entrepreneur needs to make an effective business plan which
should include all the important components so that the company is able to achieve its desired
goals and objectives. It covered market audit, identification of target market, marketing plan,
financial plan, etc.

REFERENCES
Books and Journals:
Almeida, F. and Santos, J., 2018. The business plan reference manual for IT businesses.
River Publishers.
Cant, M. C., 2018. Blueprint for a business plan competition: Can it work?. Management:
Journal of Contemporary Management Issues, 23(2), pp.141-154.
Fichter, K. and Tiemann, I., 2020. Impacts of promoting sustainable entrepreneurship in
generic business plan competitions. Journal of Cleaner Production, 267, p.122076.
Jukova, E. E., and et.al., 2019. Planning a new business: typical mistakes of a business plan
in the service sector. Journal of Environmental Management & Tourism, 10(3 (34)),
pp.441-447.
Marques, J. D. A., 2021. Business plan: Sportigest (Doctoral dissertation).
Puspita, D., 2019. CORPUS BASED STUDY: STUDENTS’LEXICAL COVERAGE
THROUGH BUSINESS PLAN REPORT WRITING. 16 November 2019, Bandar
Lampung, Indonesia i.
Sládková, S., 2019. A Business Plan for a Selected Company.
TOMASSONI, M., 2019. Development of a business plan for the expansion of CESI's
operations on the IFI hydropower market.
Villanueva, L. K. B., and et.al., 2020. Business plan for entrepreneurs, actors and
organizations of social and solidarity economy based on neutrosophic AHP-
SWOT (Vol. 37). Infinite Study.
Watson, K., McGowan, P. and Cunningham, J. A., 2018. An exploration of the Business Plan
Competition as a methodology for effective nascent entrepreneurial
learning. International Journal of Entrepreneurial Behavior & Research.