Business plan

BUSINESS PLAN

We decided to start a new business in New Road, Whitechapel. Which is a Perri Perri chicken and our chosen name for our restaurant is hungry chicken. Here customers can eat Asian and European food and we will target all ages customer as well as students. We are considering selling delicious food on affordable price. To establish our restaurant, we will follow several tactics such as Organizational Plan, Operational Plan, Marketing Plan, Management Plan, Financing Plan. with a clear vision and maintaining our strategies we are confidence enough to achieve success on our new business.

Restaurant details

Our restaurant is a small one with a sitting capacity of 50 customers in a time. 10 employees will be working there at our restaurant we will also have take way and online order with free home delivery service. Although we will provide food to all type’s customers, our focus group will be student and youth.

Mission, Vision & Objectives

Mission: An important assignment given to a person or group of people to be success in the job

Our first mission is to serve our quality, healthy and hygienic food to everyone by doing this we can reach to many customers. Talking about the last mission, we will sell our food in an affordable price. We also ensure healthy and safe environment.

Vision: The ability to think about or plan the future with imagination or wisdom.

Our first vision is to build our restaurant as one of the top restaurants in our local area. And make as more profit as possible in upcoming years.

Objective: A thing aimed at or sought; a goal.

Our first objective is we will do free deliveries. Beside we will give discount for the first day opening: buy 2 get 1 free. More than that, we will give discount for student 10%.

S.W.O.T Analysis

Strength:

1. We will provide quality foods with affordable price

2. We will provide a free delivery to customers it will help us to get new customers from different part.

3. Our all foods will be cooked by experienced and professional chef.

4. We will sell different types of cultural traditional food like Bengali foods, Indian traditional foods etc. for traditional and cultural people.

5. Our one of biggest strength is we have excellent team management with quality staff

Weakness:

1. our restaurant will be a new one as a result we will find difficulty finding popularity

2. We are unable to have any parking place because of space shortage

3. we have a limited space for our kitchen with limited kitchen equipment.

4. As a new member on this business, it will be quite hard for us to come with it.

Threats:

1. As our location is in city side many small well-established restaurants are already there, so it will be tough for us to compete with them

2. Beside big competitors like Pizza Hut, Burger & Lobster Soho etc are also there

3. Hard to make lot of profit because big restaurants are able to sell their products in comparative law price

Segmentation

Age- We will target people from all ages, but these foods are mostly for young and older peoples.

Gender- Our product is for all gender.

Income- Although Our food is for all types of peoples, but our priority for low- and medium-income people.

Geography- Our restaurant is situated in the city area.

Lifestyle- our restaurant will be mostly for low- and middle-class peoples.

7 PS analyse

Product: As a restaurant business, our main product will be food

Place: Whitechapel, London, UK. (Reason behind chosen this place is Asian community)

Promotions: we will use social media, sell promotion, public relation and hand leaflet for our business promotion. Beside we will provide special discount for student

Price: According to our consideration of middle class, our product price will be around £0.50 to £30

People: All ages but focus group will be young age and student

Physical Evidence/Appearance: It is a small size restaurant with a capacity of serving 1000 customer a day

Process: we will use several monitors to take orders from customers as well as we will provide online delivery service to customers.

After completing analysing and planning we will start our physical activity which start will registering our business.

We will register our business with companies house with full filling all requirement and providing necessary fee and taxes.

After getting permission, we will focus on promoting and reaching to as more as people and introduced us to them which will help us to have a good start.

We will also do Organizational Plan, Operational Plan, Marketing Plan, Management Plan, Financing Plan in order to run our business smoothly

Financial plan

Rent £1000

Payroll 10*£350 = £3500

Equipment £5000

Taxes £500

Other £1000

Total =£10000

(Weekly)

MARKETING PLAN

Our first marketing plan will be to provide a good service to our regular customers. It will help us to gain more regular customers.

Use of posters and free hand leaflet

Advertisement on local newspaper, which will help us to reach more local people

We will also active on social media like Facebook, twitter, Instagram and snapchat which is a one of most popular and effective way to reach many people now days.

We will also add discount on special occasions

We will also be involved with charity work such as provide food to homeless and poor people

Our weekly expenses will be £10000 including 2 chef 8 other workers in return our selling target will around £15000 at the beginning

We also have a plan to reach a selling figure of £30000 in 3 months and £50000 in 6 months. We also have a plan to open our own branches in different part of London within a year.