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

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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. The consistent popularity of curry and oriental food, combined with a value price point in a buffet concept has proven to be winning concept in other market and will produce the same results nationally. In looking in at our market analysis, we have defined the following groups as targeted segment for lunch. I firmly believe that a much broader appeal exists for this mid daytime slot because we have priced it fairly and feature our special rice and noodles.

Primary Research

Target Market Customers

I have a carried out a Primary Research just before I took a step any further. Primary Research is important especially in the business that I ma going to open because I want to know the response of people about eating in a restaurant. This is really helpful because a business man like me will know exactly the target audience and that is one of its advantages. Below is the list of my target audience for the business:

* Age - Seniors, Professionals and married couples with children.

* Gender - The restaurant will equally target both sexes with a slight skew for males due to their heavy consumption of meat and seafood. According to my research and own experience, most males who visits restaurants usually orders meat and seafood for their meals. Most males that eat in restaurants are not vegetarians. Only some number of females that visit restaurants eat salads and vegetable dishes.

* Income - The restaurant will appeal to the high side of low income individuals and to all in the middle income bracket.

* Occupation - Working professionals with family.

The restaurant's main target audience are the people aged 20-60 especially the people in working class. These are the people that normally eat in restaurants and there are many working class people in the location that I have chosen. Around the premises of my business are Argos,

Questionnaire Evaluation

Before I started opening my business, I have asked people in Stechford and places nearby about their eating and food lifestyle. I gave them questionnaires for them to answer. I have done theses questionnaires to have a feedback from people if they prefer eating in a restaurant or not.

For the first question, I have asked their gender. Asking people in both sexes will help me to know their response about food business and their lifestyle. 16 people are male and 14 people are female.

I have asked people between 16-62 years old. 12 people that I have asked are on their maturity years (16-30), 10 people between 31-41 and 8 people between 42-62. Asking people with different ages is really helpful so that I can know their style of food and eating on those ages.

90% of people that I have asked usually eats in a restaurant or food shop. This is really helpful because I am setting up a restaurant business.

For this question, 20 people usually visit restaurants at dinner time and 10 people at lunch time and none during breakfast. This question is very important to know my best time of the day during opening hours.
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I have asked these people what type of food or cuisines they prefer. 12 people prefer English food, 10 people for Oriental cuisines, 5 people for Continental dishes and 2 for other type of cuisines. The result was good even if some people still prefer their traditional dish.

25 people said that the restaurant that they visited serves the food at the right time. By this, we must have a good service to our customers.

30 people that I have asked, 28 of them said that they feel comfortable with the place everytime they ...

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