FINE RESTAURANT

Basharat Ali
Executive Summary

The fine restaurant will have the capacity to dine 90 people in the heart of Manchester. It will
offer food typical for family type service, including; roast, wraps, salads etc. There will also
be specialism in lighter options for adults and children. The restaurant will be family owned.
The problem that needs to be accomplished through this business is that an increase
number of customers would want a refund if the food that is purchased hasn’t satisfied them.
This will be the only restaurant based in Manchester to refund customers within the given
time period and following other regulations. The set of regulations would include to provide
an email address, so that a refund can be given by sending a voucher through email.
The target market would differ, as anyone is welcomed in this restaurant, regardless of their
age or gender. The maximum seating would be 90 people, however further seating could be
arranged.
This restaurant would be an example for others restaurant, as it would reflect many key
examples that would be practiced within, such as; respecting each other regardless of
gender, colour or race. Therefore, the increase in competition would arise, but in a positive
mode.
The start-up of the business would cost around £340,000. Most of the expenses is the
furniture and equipment. The location would need a renovation and require approximately 50
days to complete. The source of funds are combination of liquid assets and marketable
securities.
The competition of Fine restaurant is competitive as the restaurant will compete with others
to gain more priority.
This restaurant would require no funding as tall of the arrangement of the money would be
arranged by myself.
The restaurant progression will be increase in few years’ time, by opening several branches
of this original restaurant in different cities.

Contents
Executive Summary...............................................................................................................................1
Introduction...........................................................................................................................................3
Marketing Research...............................................................................................................................4
Competitor analysis...............................................................................................................................5
Strategic Action Plan..............................................................................................................................6
Budget...................................................................................................................................................7
Recommendation for Investment..........................................................................................................8
References.............................................................................................................................................9

Introduction
Mission statement

The priority mission is to give an Excellency service to customers. In order to achieve this
goal is to: give everyone the equal respect and dignity and by providing a menu with quality
ingredients with affordable price.

Legal structure and ownership

The fine restaurant will run by sole proprietorship regulation - where my responsibility will be
to fund the business activities.
There will be no rules or regulations for the account to be audited or any other set of
formalities. However the tax would have to be payed from the profit. There are concerns of
being a sole trader as if the bankrupt occurs, then it will my responsibility only to manage it
without any other partnership help.

Company history

Fine restaurant will be launched in January 2018 and will commence with a positive thought.
It will run in one of the well-known city- Manchester. The number of staff will be up to 40
members that will include from manager to chief and assistants. Different types of food
would be served from continental to Chinese and a touch of Asian taste. The history will
build up in future, as the years will go by. The restaurant branches will open in the coming
years. Several restaurants will open in different branches such as Manchester, Leeds and
Bradford. The branches will be based in the city centre. After some more years few more
branches will be based in different countries.

Products and Services

The product and services in the Fine restaurant would vary. Different service will be
introduced such as; free meal if you spend over £40 and free sweet treat at the end of every
meal. This service will increase the number of customers and will keep the customers
satisfied. The services will change from time to time. This means that after 6 months later,
the services will change to providing a free drink after spending over £25. These offers will
enhance the prospectus of the restaurant. The services will improve the satisfaction of the
customers. More products will be introduced, such as; Free gifts and free vouchers. The gifts
could be anything, such as; a pen or a book. These supplies would be given to everyone
who have visited the restaurant. The vouchers that will be given will in form £5 and £10.
These vouchers can only be spent in Fine Restaurant. Other restaurants do not deliver these
services. Therefore, this will make the restaurant in a higher place in comparison to other
restaurants nearby. The plans will expand in future as more services will be introduced and
more further products will be added.

Marketing Research
Fine restaurant will display as a home-style restaurant. The feeling of home will be perceived
by home-style meals that will be prepared by superiority ingredients. Customers will have the
choice to dine on wood tables with colourful cloths. The restaurant will provide a calming
atmosphere with a friendly staff. The customers will appreciate the standard menu fare as it
will be affordable. This restaurant will be an interesting place to start a career. The
restaurant will provide job opportunities for both the entry and higher level worker. This
opportunity would be both for part time and full time worker. The salary would indeed be
competitive but the reward would be very sweet. The restaurant would also keep a review of
Prime Cost Report and also the Cost Accounting systems. This will allow to avoid any
upcoming inventory shortfalls. The employees will co-operate with the manager to schedule
up-to-date performance reviews, this will give the confidence and increase the success of
profit being made in upcoming years. The employees will be provided with training sessions
to train them with the necessary skills that are needed to deal with customers. This is one of
the vital step to be considered and cannot be avoided. The training sessions will include safe
food handling and work protections courses. The restaurant will initially correspond with the
marketing thread as well. Fine restaurant will be in different websites, such as; Facebook,
twitter, Instagram and snapchat. This is so the restaurant will be more famous and familiar
for other people. The restaurant will partnership with Yelp; this is so different gift cards and
birthday cards will be gifted and so the earning will be increased.
The restaurant will support with vast majority of strengths such as; having remarkable staff,
high pay and quality ingredients. The weaknesses would include: finding hard to find quality
employees. Another weakness would mean that the margins would be tight and that can
cause errors.
There will opportunities for younger employees to given for business opportunities. Other
opportunities includes providing catering services. There will a risk of threats being exposed
of such as; mandates of government threats, different opinions of customers on weather
restaurant food is unhealthy and costs of opportunities increasing.
There will be various types of promotions and advertising strategies. This includes: the main
location of the Restaurant. The restaurant will be located in the city of Manchester and so
lots of people will have the capacity to visit this restaurant, as it will be open for everyone.
There will be a database of customers that have already visited the place. The restaurant will
also participate with Costa to reassure customers that we have interest in what they have in.
Mails will be sent out to different customers to give out rewards. Different events will occur in
which our name will be mentioned to introduce customers about our new restaurant. In
future this restaurant would consider of using phone, emails and fax for various purposes.
Market research is critical to business success. A good business plan analyses and
evaluates customer demographics, purchasing habits, buying cycles, and willingness to
adopt new products and services. The process starts with understanding your market--and
the opportunities inherent in that market. As a result you should start this section by
identifying:

Ethnic Diversity
Ethnic Diversity restaurants have high diverse workplaces from different employees that can
make up 25% of the workplace. The ethnic background religions are ranges from African,
Mexicans, Chinese and Indians. Furthermore, the number of owners who belong to different
to religions have increased.
Meeting Challenges
Apart from concerns from labour, the operators would report about the issues of wholesales
costs, energy costs, healthcare and other liability insurance.. This as a result would need to
have these issues solved by the help of public policy agenda. They will support the current
legislation and will also try to take a role to defend anything that would potentially affect
commodity prices and trade. Support will also be given towards energy policy and this will be
in the favour of legal reform so that will decrease the lawsuits against the industry.

Competitor analysis

Fine restaurant competitive edge can only be the people. Having everything perfect makes
the business shine, the staff, meals and the restaurant itself. The staff will truly show the
picture of how we want the restaurant to run as. For short term goal, family members will be
hired however for long term goals, people from different backgrounds will be hired to show
the true colours of respect. Regardless of the large chain competitors, the restaurant could
be pushed from economically and therefore this will allow us to become more proactive.
The location of the Fine Restaurant is surrounded by competitive restaurants which does
appeal more people in that area. The majority of the existing restaurants are also fast food
restaurants. The restaurants that are competition with our restaurants are listed in the table.
It is for certain that we do have competitors nearby.

Strategic Action Plan

Promotion Strategy
 Fine Restaurant will be located in the heart of Manchester in Reeds Avenue. It will
have an easy access to city of Manchester, Leeds and Huddersfield. There will be
signposts available nearby to guide tourists and local people.
  A database will be created for existing customers such as family members and this
method will help to expand and grow the business.
 Fine business brochures and cards will be displayed in local shops.
 Bulk method will be used to send mails to large number of customers.
 Event marketing – Fine Restaurant will join the local chamber of commerce and this
will help to utilize the networking services for the big opening event.

Budget

Fine restaurant would expect an at least of 15% increase in sales revenue annually for the
next 2 years of initial start of business. The growth would reflect on the consumers and how
visible this Restaurant is in the city of Manchester. The importance of sales is highly
important, but that is how the business would grow rapidly if the sales increases. Addition to
the catering, sales will increase by at least 10% in the second year of newly beginning of the
business.
Fine restaurant strategy of pricing would typically mean that an customer would spend at
least £7.00 in a day.
Cost is very important, as the individual dishes can be different and this will determine the
cost of the menu items. The advantage of the credit terms will be taken from our suppliers
and that will help us to update the menu. The prime cost will be monitored which will then
focus on the Goods Solds and labour. As this is a new start-top business the current
situation will be to control the employees by hiring the family members with a low wage.
The amount that is needed from the owner relies on how successful acquisition of funds
from different sources. The assets can then be used for to complete the budget for the
financial department. The amount of the money can be adjusted later if necessary
depending on the circumstances.
Investment Member- the owner will donate £20.000 to the capitalization. A promise will be
made to get the bank loan. The sole investment member will receive only 100% of cash
distributions.
The operating member will also be the sole operating member.

Recommendation for Investment

Fine Restaurant will have no plan to expand as it will already have a great menu,
comfortable atmosphere and reasonable price to appeal to wide range of people from
different background.
References

Bourdieu, P. 1983. Forms of capital. In J. Richardson (Ed.), Handbook of theory and

research for the sociology of education: 241–258. New York: Greenwood Press. Google
Scholar

Brush, C., & Hisrich, R. 1991. Antecedent influences on women-owned businesses. Journal
of Management Psychology, 6: 9–16. Google Scholar, Crossref
Burdos, A. 2001. An institutional theory of organizational retrenchment: Adoption of early
faculty retirement programs among Ontario universities. Canadian Journal of Administrative
Sciences, 18: 221–236. Google Scholar
Castrogiovanni, G. 1996. Pre-startup planning and the survival of new small businesses:
Theoretical linkages. Journal of Management, 22: 801–822. Google Scholar, Link

Drucker, P. 1959. Long-range planning challenge to management science. Journal of the

Institute of Management Sciences, 3: 238–249. Google Scholar, Crossref

Greenwood, R., & Hinings, C. R. 1996. Understanding radical organizational change:

Bringing together the old and the new institutionalism. Academy of Management Review,
21: 1022–1054. Google Scholar

Van Osnabrugge, M. and Robinson, R. J. ( 2000 ) Angel Investing: Matching Start-Up Funds
With Start-Up Companies . San Francisco, CA : Jossey Bass . Google Scholar

Wright, M. and Robbie, K. ( 1996 ) ‘ Venture Capitalists, Unquoted Equity Investment

Appraisal and the Role of Accounting Information ’, Accounting and Business Research 26 :
153 – 168 . Google Scholar, Crossref

Zacharaki, A. L. and Meyer, G. D. ( 1995 ) ‘ The Venture Capitalist Decision: Understanding

Process Versus Outcome ’, in W. D. Bygrave , B. J. Bird , S. Birley , N. C. Churchill , M. Hay
, R. H. Keeley and W. E. Wetzel Jr (eds) Frontiers of Entrepreneurship Research 1995 , pp.
465 – 478 . Wellesley, MA : Babson College . Google Scholar

Zacharakis, A. L. and Meyer, G. D. ( 1998 ) ‘ A Lack of Insight: Do Venture Capitalists Really

Understand their Own Decision Processes? ’, Journal of Business Venturing 13 ( 1 ): 57 –
76 . Google Scholar, Crossref