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Setting up an African restaurant on the Quayside in Newcastle.

Extracts from this document...

Introduction

Objective Date completed Resources Problems/Adjustments Complete first draft and action plan 15/09/08 Teachers Notes Needed to readjust action plan because I was unable to meet dates Choose which business I will set up 19/09/08 Notes At first I was going to have a gym as a business but decided against it because most business like that fail in the first year. Had to go on internet for further research.. Start and finish Introduction 25//09/08 Wikipedia The Guardian Teachers notes Design a questionnaire which gives an analysis on the market 31/09/08 Computer Word process questionnaire, ask someone to proof read and improve and distribute them . 5/10/08 Printer Computer Photocopier In order to make sure that people received the questionnaire I distributed them myself Get target market to fill in questionnaire 21/10/08 Analyse data from market research 22/10/08 Write a letter to request interview 23/10/08 Unfortunately I could not get an interview from someone from Tesco Carry out competitor scan Yell .com 23/10/08 Review and conclude market research Results from questionnaire I found that I had made miscalculations when I was creating the graphs that showed some of the questions. I realised that it affected my results and I had to go back and alter my results. Evaluate sufficiency Of survey. 26/10/08 Write up methods of promotion my business can use mention legal constraints 28/10/09 Teachers notes Class notes Text book Research suitable methods of promotion 31/10/08 Yell Yellow pages Internet Decide what promotional methods my business will use 5/11/08 Finalise coursework e.g. bibliography 27/11/08 Make sure coursework is ready for the deadline 12/02/08 Introduction The business I will set up will be an African restaurant on the Quayside in Newcastle. The name of my restaurant will be Mawuya Restaurant. "Mawuya is a Shona which means welcome, a symbol of African hospitality. I intend to open my business in June 2010. Why I chose this business and location I decided to set up a restaurant business because I have worked in restaurants before and I have a passion for food. ...read more.

Middle

Occupation: Unemployed Student Young Professional 1. 4. Income pa:(�000) Below 10 11 -20 21 - 30 over 30 1.5. 1.4 Race: White Black Asian Other 2 Market Need: What do they want? MMM 2.1. Have you ever been to an African Restaurant? Yes No 2.1.1. If Yes: Did you like the food? Yes No 2. 1.2. If No: Would you be willing to sample one? Yes No Maybe 2.2. How often do you eat out a month? Once Twice Three times Four times Five times or more 3: Pricing: What price are they willing to pay? MMM 2.4 How much are you willing to spend on a meal at a restaurant? Below �5 � 6-10 � 10-15 �16-20 over �20 4. Place: Where? MMM 4.1. What type of restaurant do you prefer to dine at ? Fast food restaurant a- lar -carte restaurant 4.2 Where do you prefer dine? In the city centre In quieter outskirts Implications of the Results The two questionnaire results above are there because I consider them to be two of the most important results in my questionnaire because they tell me how much I should budget. By looking at the age of the target market I am able to see how I can design the restaurant and what kind of ambiance I can create and whether it suits the people for example if the majority of my customers were young children I would probably try and make the restaurant colourful, bright and busy and would probably have to have things like toy animals and clowns to amuse the kids. However since the questionnaire suggests that 70% of my customers are aged between 20 and thirty this completely changes the way I approach everything from the design of the restaurant to the menu ( I will go into deeper analysis in the marketing plan) By knowing how much people are willing to spend per person this is crucial as this allows me to work out roughly how much money. ...read more.

Conclusion

The Green tax environmental law says that from 2009 all businesses will be taxed on the waste and pollution the produce so I have to ensure that we don't produce too much waste. Constraints I thought by locating my businesses in an affluent area such as the Quayside I would not have any vandalism or pollution problems but it in fact it also an area where students come to have parties hence I experienced a substantial amount of vandalism. I also experienced a lot of taxation from the government because of the pollution my restaurant produced. As a result my business I decided to put a maximum limit on my customer's alcohol consumption. Others people suggested I stop selling alcohol but I could not do this as it contributed around 60% of my revenue SUGGESTIONS An upcoming business man by the name of Kenneth Rojas SUGGESTED that in order to improve my business popularity I should start a website on the internet so I could showcase my service to a wider audience however the Constraint in this was the set-up cost of this but it was just in my budget limitation The Internal Environment - Strengths and Weaknesses The Management I will be the owner manager of the business and my 5 years experience as a restaurant manager in a 5* Hotel in Africa will be a very good assert. I however need further training on running a restaurant in the UK and understanding the legal issues. The Capital I have raised half of my business capital and borrowed the other half. My cash flow forecasts show that I should be able to meet my loan repayments. In the long run I intend to turn the company into a PLC and raise more capital as I open more branches. Sources They were four very important websites I used for my coursework Www. wikipidea.com www.business studies online.co.uk www.sundaytimes.co.uk www.guardianonline.co.uk Mr. Clarke's notes. Sue Alpines GCSE Business Studies Book Without these sources I don't think I would have been able to write up this coursework and understand the aspects of Business Studies. ...read more.

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