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ShakrHolidayRestuarantpptIP3Unit31.pptmCharlotte Valenzuela
IP 3 Unit 3
Business Capstone
MGMT495-1801B-03
March 7, 2018
EXECUTIVE BUSINESS PLAN For Shak R Restaurant
Shak R Holiday Restaurant
COMPANY INFORMATION
The business venture will be registered under the name “ Shak R Holiday Restaurant”. It is mainly a sole proprietorship. The idea to come up with this business activity was influenced by the rising demand of quality food and restaurant services in the town especially to the escalating numbers of Chinese tourists.
Currently, the business will employ ten dedicated employees under the management of a very able manager. The company will have one human resource manager who handle the welfare of the employees and one financial manager who manages the company’s financial reports.
We will also have two qualified Chefs, two waiters and one waitress who will have the necessary training to handle our customers at their best of interest. The company will also hired two cleaners who are skillful in maintaining the required health standards in our restaurant.
The restaurant has two main venues. One of the venues is in the building itself mainly for dinning purposes and hosting families while the other venue is an outdoor extension targeting the customers who want the light foods and to enjoy the natural breeze outside.
EXECUTIVE SUMMARY
This business plan is designed to meet the arising market demands. The costs to be included in this business plan are based on the foundation of the trends in the industry.
A bulwark is included in the start-up cost to ensure that the venture is not short of finances.
In the business plan, a clear determination on the traditional and modern risks that may lead to the downfall of the business has been considered.
Shak R Holiday Restaurant is an eating establishment that will direct its major efforts towards health, nutritious and quality food and services to the local downtown area. The company will be an fashionable restaurant focusing in combination of hot and cold sandwiches and salads plus specific recipes to satisfy the escalating consumer wants.
The company will also have an extensive marketing, advertising and promotion campaign aiming at maximizing word-of-mouth marketing and it will widely consist of radio, printed material, billboards and discounts.
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COMPANY OBJECTIVES
The company’s basic aim is to promote and spread wide the restaurant model as a small but unique restaurant.
We as a company are determined to maintaining our total food costs at less than forty percent of returns.
Lastly, the company aims at marketing and advertising its name through its quality delicacies and services both internally and nationally to increase our customer base.
COMPANY’S MISSION
“To provide an excellent food selection, timely and friendly customer service”.
Our company mission will act as our main source of motivation because we are driven by the fact that our customer satisfaction should be our fundamental objective.
Nevertheless, quality employee wellbeing, involvement and training are equally imperative to our triumph.
Our general idea combines together an array, ambience, entertainment and a better-quality staff to craft a sense of place to be. We aim at being the best in our region and be the ultimate choice of our esteemed customers.
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SECRETS TO OUR ESTABLISHMENT
Product quality
Employee preservation
Cost control
Uniqueness and innovativeness
Provision of a diversified menu
Product quality- Our fundamental idea is to provide better quality food to our customers as compared to our competitors. This will ensure that our loyal customers stick to our services and spread the gospel of our food joint to the rest of the world. This will be advantageous to us as more people will be curious to taste our quality and in turn expand our customer radius.
Employee preservation- The company aims at retaining the hardworking employees who not only adhere to our rules and regulations but also have the best interests of our customers at heart.
Cost control- This will help us reduce on our unnecessary expenses and maximize on our profits.
Uniqueness and innovativeness- Through our qualified staff, we hope to come up with unique flavors different from those of our competitors to increase our market base and satisfy our customer demands.
Provision of a diversified menu- Our customer selection of food will be considered. We look forward to preparing a variety of delicacies ranging from traditional to exotic tastes to satisfy our market demands.
In addition, we would want each and every customer visiting our food joint to always want to return and recommend our services. Word-of-mouth marketing is a very powerful tool towards ensuring our sustainable success.
Our situated location will also serve to our advantage as we will be closer to the consumers of our products.
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PRODUCTS OFFERED
The company is designed at providing quality food both traditional and modern tastes.
We will major our production on the normal tastes but of advanced quality. We offer both foods, drinks and desserts to those interested in taking their meals at our place or for takeaways.
We also have fruit-blended juices ranging from mango, apple, lemon and orange juices.
To diversify our customers tastes, we will offer salads and Chinese cuisine too .
Breakfast will include such items as omelettes, cereals, eggs, toast, yoghurt, coffee and tea. The lunch menu will be composed of various cold cut sandwiches ranging from turkey, ham, roast and beef. The prepared salads will be as follows; Caesar salad, Greek salad, Watercress and Sesame Salad and Homemade Potato Salad. Fine dinning with full course menu and premier wine lists to wet the pallet.
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FUTURE PRODUCTS AND SERVICES
The company is planning on introducing new carte du jour items as time and abundance authorize.
The company also plans on publishing its on recipe book as it continues to spread its wings wide.
PROCEDURE OF OPERATION
Shak r Holiday Restaurant will be located downtown in Kanab town on the right-hand side of the famous Kanab roundabout.
The restaurant will offer services on three meals a day; break fast, lunch and dinner. Services will be offered as follows:
Breakfast from7:00 am to 10:30 am. (everyday)
Lunch meals from10:30 am to 4:30pm. (everyday)
Dinner meals from 4:30pm to 9:30pm. (everyday)
MARKET ANALYSIS SUMMARY
People who work in the business district area during the day, who will be looking for a walk-in good food and ease for late breakfast and lunch.
Neighboring industries looking for phone-in lunch for business meetings
Workers with families looking for takeaway food to take home for family dinner at the end of the workday.
Each and everyone of these market segments comprises of individuals who either work in the downtown area or flow through this area during the ordinary labor week. Shak r Holiday Restaurant will cater to the emergent drift of middle-class professionals who inquire about a reverse cookery than that of the established food manacles
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MARKETING STRATEGY
The company’s marketing strategy will entirely be based on the dinning experience and reasonable prices.
Our restaurant is interested to gratify to a wide consumer base. We want every single customer to feel at home and entertained. We have targeted the following groups as the targeted segments that will contribute significantly to our growth projections; the youth, families and the residents of the town and its neighborhood.
To capture a wide market we intend to triumph by giving people a combination of first-rate and out of the ordinary food in an environment.
We also heart our efforts on establishing a strong identity in our area with a magnificent opening.
We aim at crafting an alluring and compelling environment with matchless quality at a customer-friendly price.
To counter our competitive edges, we have devised Chef/management stock enticement agenda, an inner and outer sector marketing campaign and lastly, we will put in place Employee training, motivation and retention plan.
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ADVERTISING
Adequate and widespread information about the restaurant will be resourceful as part of our marketing strategy. In order to create vast awareness on our company’s products and services, the company settled at the following advertisement procedures.
Our main advertisement will be on billboards both in and out of town. The billboards will display our menu to our customers as attractive as possible having colorful pictures of our food joint and the types of food we offer.
It was agreed upon that pamphlets containing detailed information about our restaurant be produced and distributed to our customers all over .
An attractive publication on the regional newspaper with our company’s information will also be done to make known to our customers of our existence.
Advertisements will also be done through the local cable channel and banners and small posters stacked everywhere in town.
See link to commercial: Shakr-Cornerwesternfood-Original.MP4
Billboards
Printed media
Local cable channel
Commercial such as this one I have provided will be seen on all social media outlets.
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FINANCIALS OF THE COMPANY
Our start-up costs are mostly expensed equipment, furnishings, painting, reconstruction, rental fee, start-up labor, and lawful and consulting costs associated with opening our food joint.
Being a sole proprietorship owned by Mrs. Charlotte Valenzuela, she will be providing ten thousands dollars as capital investment. The company plans to source its additional capital from monetary institutions offering loans at affordable interests rates. These monetary institutions include the bank and the credit Sacco's.
The financial plan to Shak R Restaurant will include the following; significant assumptions, risk analysis, break even analysis and profit-loss statement. It will also include the cash-flow statement and a Balance sheet.
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SALES STRATEGY
The company’s will base its sales strategy on provision of high quality food and customer services, time conscious and favorable environment.
The company’s main sales literature will consist of flyers sent through the mail and promotional advertisements offered to local businesses.
The relevant contact information on our vast menu, our location address and delivery number will also be included.
This will be accomplished by hiring employees who legitimately love and enjoy their jobs. Secondly, a regular assessment on the quality of all features in provision of better quality to consumers. (Metcalf, 2018)
Creating a one on one interaction platform with customers to improve customer relation.
Putting in place a proper personnel plan will also come in handy in ensuring proper and successful sales are undertaken. This will be achieved if this plan is proportional to size of the business venture and its projected revenues.
There will be incentives like an award given to the best waiter or waitress of the month as way of motivating them to register even better results in their performance. Eventually this will improve the sales of the company’s products leading to generation of more income.
Providing our customers with the maximum number of services will enable us to create the greatest sales volume especially during the company’s peak hours of operation.
As a way of market capture, the company plans to offer its products at a slightly higher pricing than that of its competitors. This is aimed at providing credibility to our clients as an upscale establishment that provides a unique menu. The company estimates at having its sales over five hundred thousands dollars by the end of the third year and maintain a health cash flow.
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GROWTH POTENTIAL
The ability of the business venture to grow and its potential to develop and be established will be projected by calculating the Annual Growth Rate Percentage after even business year and the seasonal sales variance.
Proper record-keeping will ensure a consistent follow-up on the rising and falling trends of the business. This will help predict the future of the business and its ability to grow and expand. (Michael Belfiore, 2018)
In the next five years after its establishment, the company aims at having opened three more food joints in the outskirts of the Kanab town and in the neighborhood towns. The company also aims at expanding its ventures to create even more employment opportunities to the residents of Kanab town.
COMPETITIVE EDGE
The company’s competitive edges will be :
An extraordinary contemporary restaurant design
Chinese featured menu with a featured menu
Inner and outer sector marketing campaign
Setting foot into the market will not be a walk in the park considering the highly competitive environment. However, our quality provision in our product and services offers will be able to distinguish us from our competitors and provide us with an important opportunity to gain local market share.
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RISK ANALYSIS
The financial plan to the company’s business idea is formulated in such a way that it will be adjustable to the worst case scenario of the business.
REFERENCES
‘Boeing’s CEO is driving Almost everyone nuts except investors’ by Julie Johnsson and Peter Robinson.
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‘Dines IHOP, Applebee’s may survive restaurant upheaval’ by Sarah Halzack
‘This chatbot can teach you therapy exercises’ by Caroline Chen
‘Puerto Rico’s slow Hurricane Recovery is suffocating small business’ by Nick Leiber.
‘This robot can mix drinks in your hotel room’ by Michael Belfiore
‘This handheld device can give you an eye exam in seconds’ by Michael Belfiore
London-style private member clubs are spreading around the world by Tom Metcalf
‘This toaster-size 3D printer can make drugs; Michael Belfiore
Bike-shaving upstarts are flooding Europe with cheap cycles; Carol Matlack, Stefan Nicola and Ania Nussbaum.
‘Wal-mart already has a thriving online grocery business-in China’ by Rachel Chang
‘How do you sell really fast wireless it its already really fast?’ by Niclas Rolander
‘The case against college’ by Peter Coy.
‘The U.S MILITARY’S favorite cyber platform’ by Dune Lawrence
Airbus Outgrows its European Nest chasing global sales deals; Carol Matlack, Benjamin D Katz and Ania Nussbaum.
‘In choosing a Job, focus on the fun’ by Ayelet Fish Bach.
‘Toymakers carry favor with precocious YouTube influencers’ by Alexandra Stratton
Supertall Towers are driving an Elevator Revolution by Niclas Rolander
“The CFPB: Center for Partisan Bickering” by Robert Schmidt.
