• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12
  13. 13
    13
  14. 14
    14
  15. 15
    15
  16. 16
    16

Business Plan. The business that I am planning to open up is a small restaurant named East Meets West in Stechford, Birmingham operating as a Sole Trader Business.

Extracts from this document...

Introduction

Task A I have recently received a legacy from one of my grandparents worth �10,000 and feels that this is the right time that I must open my own business. The business that I am planning to open up is a small restaurant named East Meets West in Stechford, Birmingham operating as a Sole Trader Business Plan Owner: Daryl Llanes - Earned a Business Management Degree from the University of Birmingham. Worked as a Bank Teller for 3 years. Started out as a waiter after leaving the bank then became a Licensed Chef in a Chinese restaurant named 'Chanz' in Worcestershire for 10 years before resigning on the job. Received a Food Hygiene Certificate from CIEH Foundation after training to them to become a professional food handler. Business Name: East Meets West Restaurant Location: Stechford Retail Park in Stechford. Aims * To serve quality food that will suite the needs of the customers. * To provide a wide range and selection of oriental food for the public. Short Term Objectives * To break even on the first year of the business. * To gain customers more than expected within one year. * To have a loyal customers a good profit to keep the business through the next year. Long Term Objectives * To establish a good name in the market. * To increase the sales every year and attract more customers. * To expand the business. My restaurant will provide a unique combination of excellent food at value prices with a fun and entertaining atmosphere. The restaurant will be serving oriental types of cuisine. This can help to promote the famous oriental dishes around the world. The initial capital investment will allow us to provide the customers with a value driven and entertaining dining experience. Market Research (Primary and Secondary) My business is faced with exciting opportunity of introducing oriental food and cuisines. ...read more.

Middle

* If I want to change or upgrade the asset, I can sell the existing one but the proceeds may be less than the outlay in purchasing it. Source: www.businesslink.gov.uk SWOT SWOT Analysis is an effective way of identifying the business' Strengths and Weaknesses, and of examining the Opportunities and Threats it face. Strengths * Lower price point for a complete meal. * Speed of service will be instant. No long waiting for the food, salad beverage or dessert. Everything will be readily available: hot, juicy, fresh and cooked as requested. * Customers will choose from over 30-40 dishes prepared daily. It is often difficult to meet the dining requests of each family member due to individual tastes. But they can choose any kind of food from the selection that will suit their taste. * We will serve better quality food than our competitors. * Our surroundings will be more entertaining than our competitors e.g. cooking infront of the customers, sound system connected to a jukebox. * Strong relationships with vendors that offer high quality ingredients and fast frequent delivery schedules. * Excellent staff who are highly trained and very customer attentive. * High customer loyalty among repeat customers. * High quality food offerings that exceed competitors' offerings in quality, presentation and price. Weaknesses * Foods in other restaurants are much cheaper than East Meets West. However, we can guarantee the good service and quality of the restaurant. * Not enough budget to advertise that much. The business can only do simple advertisements. * A limited marketing budget to develop brand awareness. * The struggle to continually appear to be cutting edge. Opportunities * To expand the business in the near future. * To have a good name in the market. * Increasing sales opportunities in take out business. * The ability to spread overhead over multiple revenue centres. The business will be able to spread the management overhead costs among the multiple stores, decreasing the fixed costs per store. ...read more.

Conclusion

Sales Promotion - I am planning to offer some good promotions to my customers to earn their loyalty. Every end of the month, customers can have a free set of meal when they order food worth �20 and up. This is a good incentive because it is attractive to them. Public Relations - I can advertise locally on the newspaper so people will be more familiar on my restaurant. Newspaper advertisement is a very effective way of promoting because all people read newspaper. Sponsorship - this is an expensive form of promotion and not much included on my business promotion. However, my restaurant can sponsor for charity works, small football teams and events that wants to be sponsored. This can also increase the familiarity of people. Competition There is only one major competition around the premises, the McDonald's Restaurant. This could be a threat to my business in some ways because of the food that they are serving in very affordable prices. However, I can say that their food is not healthy because of high fat like burgers and fries that are risky for the health of the customers. Competitive Strategy There are three major ways in which we will create an advantage over our competitors; * product identity, quality, and novelty * high employee motivation and good sales attitude * innovative and aggressive service options. Veggie Dishes Asparagus caesar salad �6.75 Organic purple bittersweet salad �6.50 Mixed leaves & herb salad �4.50 Organic puy lentil torte �13.25 Parmesan & nettle polpetta �12.95 Aubergine ganmodoki tempura �12.25 Chef salad �10.25 Pasta of the day �9.50 Organic lemon meringue tower �7.25 Cocoa �clair �6.95 Blueberry piroshki �6.75 Organic brie �6.50 My restaurant will be focusing the entire menu on healthy, low-fat cooking. Each of the competitors offers at least one "healthy" selection on their menu. The target market will perceive my restaurant as the destination location for healthy, low-fat cooking. We will be offering menu for those people who are vegetarians and health conscious. ?? ?? ?? ?? Daryl Llanes Business Examination Unit 8 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Case Studies and Analysis section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Case Studies and Analysis essays

  1. Virgin Atlantic PESTLE analysis.

    Technological influences Technology plays an important role within all business as technology is always changing and improving so business will have to keep up with all the changes. Virgin Atlantic have done this well as they are always constantly looking for way in which they can improve their planes from more the plane its self (weight, emissions)

  2. Business Plan window cleaning

    Start-up Assets Cash Required �200.00 Other Current Assets �0.00 Fixed cost �115.83 Total Assets �315.83 Total Requirements �620.83 Funding Investment Investor 1 �625.47 Investor 2 �0.00 Other �0.00 Total Investment �625.47 Current Liabilities Accounts Payable �0.00 Current Borrowing �0.00 Other Current Liabilities �0.00 Current Liabilities �0.00 Fixed liabilities �0.00 Total

  1. Tescos - types of stores, services offered and the people who worked there.

    stores that it will take them far distances or stores that are located in convenient location. As a result of that Tesco has located its stores where they should be accessible for everyone by allocating different stores in different areas in all over the UK an each store meets the needs of its customers at a particular area.

  2. Unit 1 P5 Describe the influence of two contrasting economic environment on business activities ...

    view its stores and online? this gives an indication that the Panmure Gordon analyst has analysed Tesco PLC?s have analysed the CEO?s plans to break through Tesco PLC?S struggles. In conclusion, the economic environment is influenced by the demands and the supply which makes up the economic environment and it

  1. The international business environment of Apple Inc

    The education of those in that country have led to minds that have enabled technology to increase to the next level, which has allowed many companies to be successful. Many other countries are restricted to the education that can be given such as India where not every child attends schools, colleges or Universities.

  2. Unit 4 P1 explain different types of business information, their sources and purposes

    This information about inviting support for activities will be aimed at customers and the details about the activity will be available, so the customers know what they are getting themselves involved in The purpose of verbal information at my chosen organisation In Tesco PLC the way that information is shared

  1. Justify your ecommendations made for starting an ice cream business

    be planned and design, so that your potential customers would know what you are offering to them. Have you identified the target market and found out what customers are looking for? Yes I have identified the target market which is that A?s Ice Cream Parlour is targeted to everyone.

  2. Unit 32 P3 explain how the developments in the consumer market have impacted on ...

    view it is an excellent trend because they can build a store like Tesco supermarket in city center because they know people form the suburbs will travel to the Centre to do their weekly shopping. Environmental issues- environmental issues refers to the damage the business makes on the surround internal

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work