The Business Plan Assignment Sample
Introduction
- Description about the business
Food4You is one new restaurant that shall be introduced for locals of Manchester in United Kingdom. This restaurant is mainly proposed to cater service personnel and elderly crowds of this place. It shall be operating on both digital and physical platforms. Food could be ordered through online applications and their restaurant will be situated in Greater Manchester.
- Therelevance of the business to the current global market of your selected industry
Global food industry is experiencing an upstart growth from $5800 billion to $6200 billion during 2021. It is expected to grow by 6.1% since past figures. UK itself is supposed to experience a growth by 2.3% margin after contributing 28 billion pounds during last year (Leandro et al., 2020).
- The unique selling point of your product or service
Food4You is claiming to serve healthy and vegan food to its customers. It is concentrated with an advanced business model to provide environmental conscious items that will suggest good health and correct protein. Environmental conservation is projected through their regular course of actions.
Background
- The current business context
Food4You is supposed to launch their own internet-based application along with delivery options through other food delivery apps. This will help them to welcome audiences from different sources. Their target group of customers is concentrated over old inhabitants of this place along with regular office goers. They seek to acquire large market proportion through social media advertisements.
- The current market players with respect to the service or product
Food joints like Herbivorous Vegan, Little Aladin, Wholesome Junkies are few of its direct competitors.
- Nature of the business – B2B or B2C? Explain.
Food4You will operate on a business to customer basis. Monitoring their business through this type of application will help them concentrate their sales on particular customer groups (Safari and Albaum, 2019). They will be able to modify their menu according to market demand and maintain their consistency through this approach.
- The operational and / or marketing gaps you find with respect to the current market players
Current operators in this market fail to confirm their freshness through prevalent serving options. Each kitchen is located in-house where customers have no authority to visit. Moreover, these firms have been facing substantial trouble with capital management thereby affecting their marketing criterias (Liu et al., 2020). Very few of them have such broad exposure before general public.
- Strategies to fill the gap(s)
Food4You is aiming to fulfil this gap by active advertising of their restaurant through on road preparation of snack items. They are also planning to establish promotional campaigns through social media applications by preparing local content. Food shows and their feedback will be projected through these channels seeking public attention.
The Process –Product Development / Service Delivery
| Features | Offering details |
| Food Preparation
|
Live kitchen for thorough display of food processing. |
| Delivery | In-house delivery shall be conducted through service men whereas home deliveries shall be done through food application agents. |
Sales Target
| No. of products/ services | Unit price | Total revenue (R = PxQ) | Total cost of production (C) | Profit (R-C) | ||
| Sl No. 1 | Q1 | 5 | €5 | €25 | €10 | €15 |
| Sl No. 2 | Q2 | 6 | €5 | €30 | €10 | €20 |
| Sl No. 3 | Q3 | 4 | €5 | €20 | €10 | €10 |
| Sl No. 4 | Q4 | 10 | €5 | €50 | €10 | €40 |
Sales of this company have been projected to rise during each quarter except for the third. Initially their cost of expenses has been propagated to be constant whereas revenue collection will sincerely increase during second and fourth quarters. Third quarter could possibly experience a depression due to potential loss of supply during those 3 months.
Operations plan
Location – Manchester, United Kingdom
Office space for operation – Food4You shall establish their restaurant in Greater Manchester, arranging for minimum 50 to 60 customers. This space shall be dedicated for in-house experience where two kitchens will be operated. One kitchen shall comply with direct customer demands, whereas the other one will be dedicated for home deliveries. This space will also have one small counter for billing regular orders. Staff and chefs will be accommodated for routine hours of service. This space is also complemented with one washroom area.
Supply chain and distribution–
- Raw material shall be obtained from local farmers on weekly basis.
- Such raw materials will be stored in refrigerators for safe maintenance of such products.
- Chefs will date each product and use in first in first out manner.
- In-house customers shall be eligible for service as soon they grab their tables.
- External deliveries shall be managed by restaurant personnel.
- Each order will be tracked for delivery until gaining feedback from customers.
Input in this company shall be acquired from local farmers because they will supply such materials at minimum cost. Owner of this restaurant will recruit local inhabitants as staff for this restaurant. It will immediately fulfil their employment criteria. Chefs will be appointed from nearby hotel management schools. This will help to borrow fresh talent at minimum expenses. Further, food menu shall be prepared to adjust restaurant cutlery in appropriate shapes and sizes. Proper designing of service processes will allow Food4You to attract customer’s eyes. They will be complemented with better acceptance from customers. Regular orders shall be recorded to understand weekly patterns of consumption. Thereafter, they shall be able to plan their raw materials accordingly. Quality of their foods shall be regularly monitored (Yousefi et al., 2019). Each item shall be economically priced to facilitate more people to opt for their place.
HR Plan
Objectives of this restaurant are to serve elderly people at their best convenience along with regular office goers. Health has become an important issue after pandemic has struck this globe (Fegert et al., 2020). There is immense scope for the owner of Food4You to recruit adequate employees for staffing this organisation. It is important for this restaurant to employ minimum staff members because it will help them cater to their customers accordingly. Alongside, employer will act as a human resource allocator for this organisation. This person shall be responsible for identifying necessary gaps in their business process. He will accordingly propagate appropriate human capital in such gaps. Since this company belongs to service based industry, their main focus shall be to provide competent service for customers by acknowledging their every single need.
Human resource planning is very important for this concern because it belongs to service-oriented business. This shall imply their need for appropriate management of staff for showcasing best service to lure customers. Being one new establishment its important for this organisation to decide their employment based on their restaurant objectives. It shall be very necessary for this firm to process their own requirements by evaluating their goals. Since this restaurant has a plan for expansion, it is necessary for them to gain substantial public attention and credit on its first establishment (Ngoasong and Kimbu, 2019). Thereafter, each staff shall be evaluated on their performances. Each staff shall be noted in terms of number of tables served and quant of revenue generated. Such job processes will be analysed by their employer. Alongside, appropriate plans for human resource planning will be structured efficiently.
Marketing Plan
Food4You is planning to comprehend their food menu on a weekly basis. They shall rotate their menu on a weekly basis, allowing their customers to taste multiple products and display their entire capability through tasty options. They have planned on providing fresh plant based protein to their customers seeking acceptance from them. As suggested by Aswani et al. (2018), this company has propagated to use social media as their opted medium for promoting their products. Since this restaurant is planning to operate on digital platforms, it will be necessary for them to allow discounts to their customers during initial periods. This will require them to set their prices strategically thereby allowing a large group of customers to pounce on their items (Guerola-Navarro et al., 2021). Food4You is aiming to cater in Greater Manchester expecting regular crowds to choose their items over other peers in that place. Moreover, it is bringing in environmental concern by incorporating a vegan diet. Lastly, it also promises to provide fresh products through live kitchen operation before its customers.
Conclusion
In this particular business plan, a restaurant has been sought for establishment in Greater Manchester of United Kingdom. Food4You is a vegan restaurant that aims to cater large customer groups including regular office goers and elderly people of that place. They have propagated to sell through both physical and digital windows. There is immense capacity for this restaurant to operate for 50 to 60 members at once whereas, rest are served through home delivery. Therefore, this business is projected to earn substantial revenues by end of this financial period. Potential business plan has been prepared for this restaurant to allow them secure a sound future for expansion. Promotional activities of this joint shall be carried out through social media advertisements. Food4You will be surfacing snack items on roads to allow people to taste their products and give valuable feedback. They have also sought to use such responses as their advertisement of acceptance.
Reference
Aswani, R., Kar, A.K. and Vigneswara Ilavarasan, P., (2018). Detection of spammers in twitter marketing: a hybrid approach using social media analytics and bio inspired computing. Information Systems Frontiers, 20(3), pp.515-530.
Fegert, J.M., Vitiello, B., Plener, P.L. and Clemens, V., (2020). Challenges and burden of the Coronavirus 2019 (COVID-19) pandemic for child and adolescent mental health: a narrative review to highlight clinical and research needs in the acute phase and the long return to normality. Child and adolescent psychiatry and mental health, 14(1), pp.1-11.
Leandro, A., Pacheco, D., Cotas, J., Marques, J.C., Pereira, L. and Gonçalves, A.M., (2020). Seaweed’s bioactive candidate compounds to food industry and global food security. Life, 10(8), p.140.
Liu, K.N., Hu, C., Lin, M.C., Tsai, T.I. and Xiao, Q., (2020). Brand knowledge and non-financial brand performance in the green restaurants: Mediating effect of brand attitude. International Journal of Hospitality Management, 89, p.102566.
Ngoasong, M.Z. and Kimbu, A.N., (2019). Why hurry? The slow process of high growth in women‐owned businesses in a resource‐scarce context. Journal of Small Business Management, 57(1), pp.40-58.
Safari, A. and Albaum, G., (2019). Transactional or relational exchange theory in B2C marketing: An agenda for a different type of relational exchange theory. Journal of Customer Behaviour, 18(2), pp.87-100.
Yousefi, H., Su, H.M., Imani, S.M., Alkhaldi, K., M. Filipe, C.D. and Didar, T.F., (2019). Intelligent food packaging: A review of smart sensing technologies for monitoring food quality. ACS sensors, 4(4), pp.808-821.
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