Business plan

Executive Summary of the Business

The “7 Restaurant” will be a cheaply priced restaurant with a total capacity of 120 seats. The restaurant will be offering common Chinese foods. Some of the Chinese foods that will be available in 7 Restaurant include; sweet and sour pork, Kung Pao Chicken, Ma Po Tofu, Wontons, Dumplings, Chow Mein, Peking Roasted Duck, and Spring Rolls. This list is however not enough but it contains the most known Chinese foods but the customers will be visiting, they will be presented with a menu that contains all variety of Chinese foods.

The restaurant will be owned by me but I will hire a managerial person alongside the kitchen staff members, waiters, and cashier individuals. I personally, I have 5 years experience in the hotel and catering industry. The proposed manager for the restaurant will have relevant experience of 7 years and above in the catering industry. The manager will then appoint the qualified individuals to lease food on the three retail centers of the restaurant. I chose the three retail centers because they were previously used as hotels and they used to offer some Chinese foods as well but they collapsed due to bankrupts. Since they are well known, they will act as strategic points for our customers. But it’s a fact that the centers will have to be renovated first before they start operating (Chambers, & Humble, 2017).

Introduction

My locality is generally a tourist attraction area with the majority of the tourists being Chinese. When looking at the existing restaurants, there is not even a single restaurant that specializes in providing Chinese foods only. According to my market research, I found that almost 60% of the tourists aren't satisfied with the quality of food and services they get from the existing restaurants. One of the popular claims from the tourists is that they are served with poor quality cooked Chinese foods if they happen to be available. Most of the time, they are forced to eat western foods due to lack of Chinese foods in the existing restaurants. Before joining college, I personally happened to work in a Chinese restaurant for not less than 5 years and I am fully acquainted with everything as far as Chinese food is a concern. As a business-oriented student, I identified this as a business opportunity. From my projections, other things remaining constant, in my quarter fiscal year, I will be generating a net profit of $500,000 and if all goes well, I will pay back the restaurant starting loan in two years time so that everything becomes my asset. My catering experience on Chinese foods, my business and management skills and more importantly the presence of the market made me decide to run the Chinese food restaurant (Gordon, & Brezinski, 2016).

Business Objectives

· The main objectives of the “ 7 Restaurant” will be;

· To be the leading Chinese foods restaurant in the region

· To offer quality Chinese foods at cheaper costs with excellent customer services.

· Achieve attain the maximum number of customers in our locality that will be served in specific periods like lunch and dinner when the season is at the peak point.

· To be the restaurant of preference to both local and international visitors guided by the exemplary customer services, delicious and quality foods at affordable prices.

Short Term Goal for my Chinese Food Restaurant Business

My short term goal will be marketing and branding my restaurant. The marketing will be done through local social media in some days of the week. Marketing by the use of billboards in major routes of the tourists will also help in attaining the customer and tourists attention.

Long Term Goal for my Chinese Food Restaurant Business

My long term goal will be to expand the capacity of the restaurant with time through the opening of the branches in major towns besides building accommodation facilities for the visitors. I will also look at expanding my restaurant into international standards (Gordon, & Brezinski, 2016).

Mission Statement

My mission is to provide an exceptional and comforting dining experience to my customers that can be equated to home dinning. I will endeavor to realize this target through;

· Provision quality and hygiene menu foods integrated with quality ingredients at relatively cheap prices which can be reasonable to my customers.

· I will be careful and alert on the well being of my working staff by handling them with self-respect just like I would like to be treated if I was the one working. It's through this that the employees will provide their services to the customers with competence and professionalism.

· Last but not least, I will ensure that the health of my customers is held with high standards of esteem and priority by ensuring that every food that is prepared in my restaurant meets the health standards from cooking, packing and serving (McKeever, 2016).

Competitors of Chinese food restaurant

Gramma fish Oakley, address 1324 olive Rd, Fairfield, tel. CA 94525-324 email/websites www.hop things Chinese. Co.

Arlette Fairfield addresses 2312 Olive road, Fairfield, CA 95652-3521, email. arlettecfair@gmail.com (Arlt, W. G. 2018)

Tootsie 1232016 3564, address, 1325 Olive road, CA 9532124-5233, web www.arletteC . Chinese restaurant. Co.

M F address, 1327 Olive Street, Fairfield, CA 95362-6325, web www.mfrestuarants.co

Three scoop address, 1423 olive Rd, CA 96243-8654. Web address www.threescoop hotels.co.

Solanodoug, address 1324 Rd. Ca. 95326-4525 web address. Www.solanoduogrest. Co

Competing Restaurants within the country

Motel 6 address, 3212 Shelby Dr. CA 96225-3652, web www.motel6 . co

Courtyard Fairfield address, 5623, Olive Rd. CA. 95123-4521, web address. www.courtyardfairfield.co

Extended stay address, 2321, Holiday lane, CA. 96452-4253. Web Address. www.extendentstay motel. Co

Hilton Garden inn address, 1242street, CA. 95425-7854 web address. www.hiltongardenrestuarants.co

Fuddruckers address, 4215 Shelby Dr, CA. 95321-4251. Web address. www.fuddruckersrestuarants.co

CrepesNmore address, 254 street, Olive Rd. CA. 94325-9856. Web address. www.crapesnmorerestuarantsfairfield.co .

The SWOT analysis is used in the strategic planning of the business. It is mainly divided into two internal factors and external factors, (Leiber & Harvey, 2018). Internal factors can be controlled by the business while external factor cannot be controlled by the business for example new Technology. Internal factors are categorized into two strengths and weaknesses. External factors are also categorized into two opportunities and threats.

Strengths. - The Owner or manager of the business has more than 5 years of experience in Catering and specifically in a Chinese restaurant. Therefore, the skills and experience will be used to provide quality services to the employer, (Piercy & Giles, 2016). The manager will employee experienced personnel in fields such as Waiters, Kitchen Staff members, and cashier. The restaurant will provide services such as quality food and hygiene, take away service and home deliveries. The hotel is located in a tourist attraction area this will improve the profitability and sales level.

· The manager also has some knowledge of business management. This knowledge will help the manager in planning and evaluating business performance, (Casebeer, 2015). The business has a competitive advantage because they have quality food and a menu unique menu with the kid's sector. Taking care of the employee by checking on their wellbeing will increase collaboration and teamwork.

Weaknesses. - Since the hotel is located in a tourist attraction area the restaurant should also concentrate on other types of dishes because tourism has its peak and low seasons. This will enable the business balance and not move from very high profits to very low profits. The restaurant does not have enough resources especially financial resources. The company needs training in the effective and efficient management of resources. This training will be beneficial because it will reduce cost and increase efficiency.

Opportunities. - The business can use technology, for example, mobile apps to offer door to door services. This will increase their sale and profitability levels. The business can also target the local community. The business has an opportunity to expand on the variety of food they offer. They can also expand their business internationally, (Novicevic et al., 2015). This will increase sales, productivity and the overall performance of the business. Most of the people spend time on social media using this tool to market will increase sales.

Threats. - The business may face threats such as competitors. Inflation is also a threat in business this means a sudden increase in price which will lead to a rise in the price of the food. Political instability may greatly affect the overall performance of the business.

Part 5 and 6

Introduction

The business world currently is moving fast and demands are fast growing. However, the demand can only be met by providing the best fit product to fill the gap. This can be done by thoroughly researching the market through the feasibility study to find out the gaps in the market. the feasibility study carried out in my locality has established that there is a gap in the provision of quality Chinese food and restaurant services. This prompted the planning and actions with the main objective of filling this gap. Therefore, this paper will focus of the products/services which the restaurant will provide, its price, the promotional strategies to be used as well as the place that the restaurant will be located within the locality.

Product

The feasibility study showed a gap in Chinese foods especially the most popular ones. Provision of these type of foods will serve the needs of the customers to their satisfaction. Currently, the market lacks the best food and even the poor quality one are rarely found in the restaurants (Chambers & Humble, 2017). Therefore this restaurant will focus on the main major Chinese food such as Kung-pao chicken, Dumplings, the sweet as well as the sour pork, Spring rolls, Ma-Po-tofu, perking roasted duck meat, the wantons and lastly the Chow Mein. The meals will be made in a delicious and special with the help of the highly qualified Chefs that will be available in the restaurant. The chefs and waiters will be sourced from the previous existing restaurants which because of one reason or the other are no longer in business. Health is the utmost priority for the business and therefore high hygiene in the preparation and serving of the meals will be given a high priority (McKeever, 2016). Services provided by the restaurant in addition to the food will be home delivery of the ordered products for customers who cannot make it to the restaurant and are located within three kilometres from the restaurant. Speciality in light options, especially in small portions for children, will be provided by the restaurants. Carry away orders services will also be offered to the customers.

Price

The company carried out research on the prices charged for the meals to establish the best prices for the meals and services. The main aim of the research was to ensure that the prices of the products and services were not too high nor too low and that they represented the best picture of the restaurants as desired by the company owner. The pricing strategy used paints a picture of what kind of products are provided and can lead to success or failure and therefore a critical point in the business (Nagle & Müller, 2017, pp. 79).

Promotion

The company has set promotional activities as the short-term goals of the restaurant. This is with the aim of establishing ground, gaining familiarity and creation and expansion of the market base for the restaurant. Social media from within the country will be used in promoting the restaurant and its products (Todor, 2016, pp. 55). The advertisement will be scheduled for three to run three days a week for the consecutive three months. Billboards in the target market will be used on major roads with the aim of attracting customers especially the tourists coming to the region. The company has chosen the two promotional strategies because of their ability to reach a large number of customers at ago and serve the purpose of advertisement as they are visual and depicts the true picture of the restaurant's products.

Place

The restaurant will be located in the centre of the town. This is because many of the tourists converge in town after their tour to have a meal and refreshments. Based on these facts, the town centre will be the strategic place for company services. In addition, the central location of the business will allow many customers as well as potential customers to see the restaurant. However, the business has considered the needs of the local customer’s and will install three additional restaurant shops three kilometres from the mother company. This will allows easy access to the company services and thus an increase in the customer base of the company (Burns & Dewhurst, 2016).

Thank you for coming. You are welcome again.

Conclusion

Fulfilling customer demands has been the desire for every business. When a company fails to consider this factor, it easily loses focus and research has shown that such businesses do not excel. The restaurant industry has not fulfilled the desires of the tourists as well as the local Chinese consumers within my locality. This has opened a gap for the opening of this business which will see the needs of the customers met at an affordable price (Moghadam, & Sohrabi, 2018, pp. 556).

Parts 4 and 5

Introduction

This is a business plan for a new product Splash Flavor –a sports drink produced and packaged by Splash Flavor Manufacturers. This business plan thus highlights all the necessary details about the drink and all the marketing strategies that will be used to ensure that the product penetrates the highly competitive market (McKeever, 2016).

Product Description

Splash Flavor is a new sports drink that has been developed keenly in order to offer unparalleled customer experience. Splash Flavor comes in four different flavors –Blue Raspberry, Pineapple Mango, Strawberry Kiwi, and Orange Tangerine. The main ingredients of this consumer product include natural grape, salt, water, glucose-fructose syrup, monopotassium phosphate, and sucrose syrup. Further, the product contains Vitamin B6 and Vitamin C which are vital in keeping the sports people active throughout the intense sporting activities. The drink is packaged in a special container that can keeps it cool for up to 6 hours in order to ensure that it is served while cold.

Product Life Cycle

Marketers will play a key role here in order to help in the development, introduction, and survival of the product in the market (Campbell et al., 2016). There are four stages that are crucial here:

· Introduction stage – Marketers will ensure that they participate in the introduction of the product in the market including issuing free samples as well as explaining the importance and usage of our new product.

· Growth – Marketers will ensure that they listen to the consumer needs necessary for the product improvement.

· Maturity – In this stage, the product will have established itself in the market but marketers will be required to continue with promotional activities in order to counter competition from other products.

· Decline – In this stage, the product will have reached its peak and the sales might begin declining. From the information collected by marketers, the company will begin producing another product that will replace the Splash Flavor.

Product Line and Product Mix

Splash Flavor Manufacturers produces other energy drinks and the company will utilize the same production and marketing strategy for this sports drink. The company will explore direct selling as well as using large scale merchandisers to stock our product.

Packaging, Labelling and Branding

The product has developed without caffeine that is found in other sports and energy drinks that are available in the market. The company has also used labels to explain to the consumers the nutritional contents of our newly launched product. The product is also packaged in a special container that can keeps the drink cool for up to 6 hours –solely to ensure that the drink is served while cold for maximum satisfaction.

Economic basis of pricing

The product has been produced to satisfy the consumer while at the same time generate profit for the company. Above all, the price of our drink has been set at $2 –a competitive price that is lower than any other competing products in the market.

Pricing objective used by the company

The pricing has been set at $2 in order to ensure:

· There is profit maximization

· To beat competition and increase market share in the highly competitive industry

· Attract consumers since the product is new in the market.

· To ensure survival of the product throughout the stages of its life cycle.

Pricing methods used by the company

The company has used competition-based pricing in order to ensure that the product is competitive. The price has been set slightly below competitor’s prices in order to attract many consumers since the product is new in the market.

Strategies used to set prices

There are two crucial strategies that will to set the prices of the new product. They include:

· New-product pricing – the price will be set to while taking into consideration the fact that the product is new in the market.

· Promotional pricing – the price will be set for special events as we introduce the product in the market.

Types of pricing associated with the product

There are three types of pricing that are associated with our new product. They include:

· Geographic pricing – the prices will be set so as to cover the cost of transporting the product to consumers.

· Discounting pricing – consumers who will buy the drinks in large amounts will receive discounts.

· Transfer pricing – the prices will set to cover the cost of delivering the product to the consumers.

Four elements of management

There are four key elements namely planning, implementing, organizing, and controlling (Goetsch & Davis, 2014). There are various activities involved in each element as discussed below:

Planning

This involves setting the organizational goals and how to achieve them. It involves decision making, that is, setting goals as well as mechanisms of achieving them. Selecting goals that are in line with the organization’s mission and objectives and choosing the course of action needed in achieving them is vital in planning (Lock, 2017). Thus, planning involves foreseeing the future and planning for it. In order to plan effectively, a manager should be aware of the organizational challenges. Challenges identification can help in formulating the strategies that will be help to counter those challenges. Planning is crucial in guiding the management on how to allocate resources to relevant projects that are crucial to an organization.

Organizing

After setting out the goals, organizing the necessary resources required to achieve those goals is key. The manager is required to determine the activities to be undertaken, who will undertake them as well as the cost of undertaking such activities. The manager is further required to identify all the man power required and identify key people who will fill those positions. Training and staffing is key in this step (Lock, 2017). The resources in this case involve the human, physical, and financial resources required to achieve the objectives. This element also calls for coordination of authority and responsibility so that employees can be guided effectively. A manager should also be keen in ensuring delegation of duties based on the employees’ skills and areas of specialization. Basically, organizing involves identifying the tasks to be undertaken and who will undertake them.

Implementing

This stage involves actual implementation of the goals set in the planning stage. The manager is tasked with directing, motivating, and coordinating the employees to undertake various activities aimed at achieving the organizational goals (Noe et al., 2017). Employees are supposed to undertake the roles assigned to them in the organizing stage. The implementation calls for clear understanding job description so that each and every employee knows is roles. Power should be exercised here to ensure that employees are doing the right thing in achieving the set organizational goals and objectives. A manager should also ensure that each group of employees has their leader who will be guiding them and reporting directly to the general manager. In conclusion, the implementation stage involves actualization of all the plans set out in the planning stage while utilizing both the manpower and resources identified in the organizing stage.

Controlling

This element involves measuring the performance of the project to ensure that it is in line with the set goals and objectives of the organization. It involves looking at the budget to ensure that it is line with what was set during the planning stage (Noe et al., 2017). Deviations are measured to ensure that adjustments are made so that everything can go on as planned. Controlling is a very crucial element of management since it helps the manager to understand whether the project is headed to the right direction. Here, organizational goals and objectives set in the planning stage are revisited to ensure that they reflect the progress of the project. All the tools of monitoring and gauging the progress of the project are used to understand if the objectives have been achieved or not. Basically, controlling involves monitoring the progress of the activities being undertaken to ensure that organizational goals are achieved.

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