Business plan

4PS OF THE MY FOOD PALACE

My FOOD PALACE mission is becoming the leading restaurant in providing best dishes services globally. The competition from other fast food giving café is increasing rapidly hence the need for new strategies to maintain the old customers while attracting new customers

Product

· My food palace services mainly deal with fast moving food. Example of our dishes are pizza, hamburgers, chicken pot pie, soft drinks, hot coffee, meat pie, tacos, and fish.

· There will be washing car services in our restaurants.

· Income will be arising from local business employees

· At my food palace, the hiring of the staff for preparing for an event such as weddings will be among the services.

· There will be special desserts during summers seasons.

· Bouncing castles for both the children and the adults will boost our products and services

· A free appetizer will be served to any customer dining in restaurant and shares a moment or post something on his/her social media account about food PALACE while

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· Food competition, where the best cook is awarded, and the organization makes a profit due to significant sales

Place

· The restaurants will be located in the heart of towns so to get consumers both locals and those who come to visit the urban centres.

· The food palaces cafes will be located new institution such as the universities to target the students

· Another place of operation will be by online delivery at homes and even offices.

· An excellent strategic place is significant patrols stations hence targeting the travellers

· Bus and railways stations will also be a favourable selling point since also the travellers will be targeted.

· The restaurants will also operate near tourist attraction sites such as mountains and even the beaches hence this will increase the returns translating to more significant profit margins.

· The food place will also be located in large commercial centres like the shopping malls and markets

Price

· . In new markets, penetration pricing distribution strategy will be used. Hence we will be able to draw attention from our competitors end up taking their customers.

· During the events like the food competitions, the premium strategy will be employed whereby food staff will be sold at its maximum price to ensure maximum profit for the business.

· Whereby the competitors use competitive pricing strategy, then food will be sold according to the quality and the affordability of the ingredient

Promotions

· Online marketing will play a role in the advertising restaurants since most of the youths are consumed in the Social Media. Animated videos will be used to attract more people since they are universal and unique

· Annual food cooking competition will be held. In the people within all over the globe will come and compete using the available ingredients to prepare dishes. Hence in the vent, we will be able to sell to a large population, therefore, making significant profits

· Offers will be offered on select days like Christmas. Hence though the gains will be little, the sales will increase due to the substantial turnover. Offers will aid in drawing attention from our competitors and even maintaining the older customers.

· Other promotions will be like free delivery services like during the weekend and public holidays

· Free bouncing castles to children hence encourage the parents to carry along with them the children whom will consumer our food staff thus leading to increasing sales

· Free ample parking space will help more visitors since they will be guaranteed a parking slot for their vehicles.

· Other promotion services include car washing services at low cost hence attracting more customers will consume our foodstuffs.

· Also, some days, there will be free video games for the children whom will take the chances to let their parents come to our restaurants and consume foodstuffs while playing the video games.