Custom Essay Writing Services-Business Plan Assignment


Produce a business plan for a hypothetical business you might like to establish. This should be a small
business in scale and should be of your own design. While your business may be similar to other
established businesses it must not be a franchise. For purposes of this assignment the business should
also be a physical one and not purely online.
Your business plan should contain each of the following sections. For an example plan see Chapter 16 of
the textbook “Small Business Management in the 21st Century”.
Part One: Introduction
A: Executive Summary: Create a one page summary for your plan. Appears first but is done last. This is a
very important part of your plan and should include details about marketing, finance and operations.
B: Business Philosophy / Mission Statement: Outline the philosophy of your business and its mission.
C: Product/Service Description: Describe the products and/or services you will be providing. Outline the
customer benefits and why your chosen product/services will be successful. You must also include retail
prices in this section and estimate how many units you will sell for each product on a monthly basis.
D: Self Analysis: Explain why you are a good candidate for starting up your business. Ideas to ponder:
reliability, creativity, teamwork skills, education, list special talents such as computer skills etc
Part Two: Marketing Research
E: Conduct Secondary Research in the following areas:
1) Geographic Data: Population description that tells how many people live in a certain area.
2) Demographic Data: Statistics such as age, gender, income and marital status, family size.
You will want to include the data that will have a direct impact on your business.
F: Primary Research: Explain what methods of marketing research you will be relying on such as surveys,
focus groups or both. Include a copy of your draft marketing research survey questions.
G: Competition: As a new business owner, you must analyse your competition.
1) Direct Competitors: Businesses selling similar products and services
2) Indirect Competitors: Businesses selling different products while fighting for a customer’s
disposable income.
State why/how you will do a better job than your competitors.
H: Market Segment Analysis – Target Customer: Using the secondary data collected previously, help the
reader understand exactly who your target customer is and why this customer would want to purchase
your product/service.
I: Analysis of Potential Location: Please include the following information in narrative form.
1) The location of the business (this may be a town or small city or a neighbourhood/area of a
larger city)
2) Will you rent or buy the property?
3) Are you in a mall, free standing building, home garage etc?
4) What will your hours of operation be?
5) What do the parking facilities for staff and customers look like?
6) What access to mass transit do staff and customers have?
7) Is the area safe?
8) Will you be near one or more complimentary businesses?
Part 3: Organisation and Personnel Plan
J: Ownership Choices: What type of ownership (Sole proprietorship, partnership, corporations etc) have
you selected? Why have you selected this option?
H: Personnel Needs: State who will do what and who will report to whom. Create a simple
organizational charge that will show working relationships.
J: Hiring Strategy: How will you recruit staff members? What salary and conditions do you need to
provide to attract qualified staff?
Part 4: Marketing Plan
K: Proposed Product or Service Plan: Describe your business and your products in detail.
L: Proposed Pricing Policy: Describe your pricing policy
1) Proposed markup to cover costs?
2) Relationship to competitors: below, above, the same
3) Will you do any introductory discounting to attract customers?
4) Are you going to drive profits through volume or are you going for a prestige appeal?
M: Proposed Promotional Plan:
1) Personal promotion: Who will be doing the personal selling?
2) Non-personal promotion: Overall advertising strategy and short term promotional events to
create enthusiasm.
N: Place:
1. Describe your location in detail: What will it look like?
2. Distribution Plan: How will you get your product into your customer’s hands? Will you make and
sell your products on site (direct distribution) or will you include other intermediaries such as
manufacturers or producers (indirect distribution).
Part 5: Financial Plan
O: Income Statement: Produce an income statement based on the projected sales volumes and margins
you have identified in earlier sections. This should include:
1. Gross Revenue less returns/refunds
2. Cost of goods sold
3. Operating expenses (such as rent/mortgage, utilities, taxes, insurance, salaries, advertising &
promotion)
Marking
Each item B-O is work 3 points while section A (Executive summary) is worth 8 points. Points are
allocated as follows:
Section A
• 0 Points – omitted or incorrect
• 1 point – partial response
• 4 points – complete response that adequately covers all requirements
• 8 points – excellent rich response that covers all requirements in depth
Section B-O
• 0 Points – omitted or incorrect
• 1 point – partial response
• 2 points – complete response that adequately covers all requirements
• 3 points – excellent rich response that covers all requirements in depth

Below is a Sample Paper. You Can Order a Custom Essay Written From Scratch From Our Website. Click Here to Order.

Delicious Cuisine Business Plan

Student’s Name

Institutional Affiliation

Delicious Cuisine Business Plan

Section A: Executive Summary

Introduction  

            The Delicious Cuisine is a full-service restaurant located in 36th St New York. The restaurant has a diverse menu of competitively priced food inspired by the United States (U.S.) fast food trends. The recipes adopted are the most preferred in urban areas across the U.S. The restaurant will be serving a wide variety of foods such as chicken, fries, burger, sandwich, salad, pizza, lemonade, coffee, milkshakes, and soft drinks. The business plan captures and depicts our vision and strategic focus for review by financial institutions. It lays down the framework for the business start-up, achieving sustainable sales volume, gross margin, and profitability.

The Partnership

            The Delicious Cuisine will be owned by two founding partners, Chef Jill Hopkins and Mr. John Keys. The two have a close friendship that has flourished since their youthful days. The owners are vastly experienced in the restaurant business with respect to management and culinary experience. Chef Jill Hopkins has a culinary career spanning over 10 years with McDonald’s fast-food chain as an Executive Chef. Mr. John Keys is an experienced restaurant manager and has been a branch manager for over 5 years with McDonald’s as well. Each partner owns 50% of the business and profits are to be shared equally.

Product and Services

            Delicious Cuisine will offer a wide variety of fast foods to its customers, all from high quality and fresh supplies. We put paramount emphasis on serving only fresh foods to our customers. The service delivery by our staff will be world class with a key focus on customer satisfaction. Our variations will be influenced by customer preferences, our team’s innovativeness, and fast food trends in the U.S.

The Market

            Restaurants in New York are pivotal to the city’s economy because they play a major role in feeding the City’s ‘busy’ population. The city’s relatively young population prefers to eat in restaurants for purposes of convenience. The location of the restaurant at a junction where there is a bus station and a busy shopping center presents the business with a ready customer base. The City also has a vibrant tourism sector that also offers a considerable customer base. High-quality products, world-class customer services, and competitive pricing will be instrumental in attracting and retaining a sustainable customer base.

Financial Considerations

            The partners hope to raise $5,000,000 of start-up capital which will cater for the start-up costs and run the business until it breaks even. The expected sales during the first year of operations, 2018, are $19,858,200 and realize a profit of approximately $7,210,133. The partners do not anticipate any cash flow challenges.

Section B: Mission Statement

            Delicious Cuisine will offer an ambient, comfortable, and relaxing setting whereby customers can enjoy their meals. We will offer our customers an opportunity to relax by offering high quality and friendly services, high-quality products, and a convenient joint that is easily accessible. Delicious Cuisine will maintain highly motivated and satisfied employee to ensure it can grow rapidly and become a reputable restaurant in New York offering the best services to its customers and still offer high returns to its founder.

Section C: Product Description

            Delicious Cuisine will be a fast food joint serving tantalizing and delicious dishes to our customers accompanied by world class customer service. The joint will tap on the busy New Yorkers as they catch or alight from a bus by strategically being located at 202 West 36th St corner 7th Ave New York where there is a busy Bus Station. High quality and fresh fast food served by customer friendly staff in this location are bound to offer our customers the convenience they desire as they go about their daily routine and poise the business for success. We will offer 100% non-alcoholic drinks and fresh sauce free of preservatives as we strive to inspire a healthy lifestyle to our customers.

Table 1

Delicious Cuisine Menu

Item Price Expected Unit Sales Per Month
Grilled Chicken Sandwich $4.25 18,000
Grilled Chicken Nuggets $4.00 20,000
Waffle Potato Fries   $1.70 10,000
French Fries Small $1.30 30,000
French Fries Medium $1.70 40,000
French Fries Large $1.90 30,000
Sausage Burrito     $1.25 25,000
Sausage Muffin   $1.15 25,000
Chicken Noodle Soup $4.30 15,000
Spiced Chicken Sandwich  $4.10 20,000
Sunflower Multigrain Bagel $1.55 25,000
Chocolate Cookie $1.15 50,000
Dasani Bottled Water $1.00 50,000
Coca Cola Small $1.38 30,000
Coca Cola Medium $1.58 40,000
Coca Cola Large $1.88 35,000
Fresh Lemonade Small $1.60 15,000
Fresh Lemonade Medium $1.85 20,000
Fresh Lemonade Large $2.15 15,000
Fresh Iced Tea Sweetened Small  $1.37 15,000
Fresh Iced Tea Sweetened Medium  $1.58 15,000
Fresh Iced Tea Sweetened Large  $1.88 15,000
Frosted Coffee $2.85 20,000
Hot Coffee $2.10 40,000
Chocolate Milkshake $2.80 20,000
Strawberry Milkshake $2.80 20,000
Vanilla Milkshake   $2.80 20,000
Cheese Burger $1.00 30,000
Bacon Burger $4.40 20,000
Southwest Salad  $4.60 15,000
Bacon Ranch Salad   $4.50 15,000
Slice of Pepperoni Pizza $2.50 50,000

Section D: Self Analysis

            The partners of the business are Chef Jill Hopkins (I) and Mr. John Keys. I am a seasoned chef with 10 years of experience having worked for McDonald’s since I obtained my Culinary Degree from the State University of New York at Cobleskill. Over the years, I have gained vast experience in the fast foods business and I am well positioned to lead a team that can deliver world-class products and services. My partner Mr. John Keys has a Culinary Management Degree from the State University of New York and holds a Bachelor’s Degree in Hotel Management from the New York University Stern School of Business and has served as a manager at MacDonald’s for over 5 years. Our skills set such as reliability, creativity, innovation, teamwork, education, market analysis, forecasting trends and market awareness give us an added advantage as we begin this business.

Section E: Secondary Research

Geographic Analysis

            Delicious Cuisine seeks to meet the needs of the daily commuters who operate around the 202 West 36th St corner 7th Ave New York bus station, business owners, shoppers, and the workforce operating in the nearby offices. According to National Restaurant Association (2017), restaurants play a key role in New York’s economy and account for 4% of the U.S. Gross Domestic Product (GDP) in sales which stand at $799 billion in 2016 and the projected sales for 2017 were $43.3 billion. In the U.S., the fast food industry is worth about $198.9 billion and by 2020 it’s expected to be over $223 billion (Statista, 2017).

Demographic Analysis

            According to Hartman (2016), a national survey that featured over 1,800 shoppers showed that millennials prefer fresh, organic and healthy food that is prepared and portable. About 42.6% of the young American’s in the age bracket of 25-34 years allocate the greatest percentage of their food expenditures to eating in restaurants and those below 25 years old allocate 44.6% of their food expenditures to eating in restaurants (The Food Institute, 2017, pp. 37-51).

Table 2

Restaurants Food Spending by Age Group

Age Average Expenditure on Food in Restaurants (US$) Percentage of Food Expenditures Spend in Restaurants (%)
Below 25 $4,890 48.0%
25-34 $6,636 46.7%
35-44 $8,844 44.1%
45-54 $8,406 43.9%
55-64 $6,992 39.9%
65-74 $6,214 38.8%
75+ $4,561 37.3%

Section F: Primary Research

            We will rely on surveys as our method of conducting marketing research. According to Zikmund et al., (2013, pp. 185), surveys are the most popular method of conducting marketing research. We will conduct surveys using “feedback cards” that will be placed at the tables in the restaurant.

Delicious Cuisine Market Research Survey

1           Frequency of Visits

1.1         How often do you eat your dinner at Delicious Cuisine in a week?

[  ] Once or never       [  ] 1-2 Times       [  ] 3-4 Times      [  ] 5-6 Times    [  ] Daily

1.2         How often do you order a takeaway meal at Delicious Cuisine in a week?

           [  ] Once or never       [  ] 1-2 Times       [  ] 3-4 Times      [  ] 5-6 Times    [  ] Daily

2           Price

2.1         Are our prices fair and equivalent to the quality of our products and services?

[  ] Strongly Agree [ ] Agree  [  ] No Opinion  [  ] Disagree   [  ] Strongly Disagree

3           Decision Criteria

3.1         My preference for a restaurant is determined by:

[  ] Cooking Style  [  ] Ingredients  [  ] Food Presentation  [  ] Quality of Service

[  ] Profile of Clientele Others(specify)…………………………………………………………………….

3.2         My preferred atmosphere in a restaurant is:

[  ]  Casual    [  ] Lively      [  ] Décor     [  ] Stylish     Other)specify)………………………………………………

4           Demographics

4.1         Do you reside in New York?

[  ] Yes        [  ] No

4.2         Gender

[  ]  Male      [  ]  Female   [  ]

Other(specify)……………………………………..

Thank you for participating in the survey!

Section G: Competition

Direct Competition

            Delicious Cuisine will be in direct competition with the Famous Amadeus Pizza located at 840 8th Ave btw 50th St. & 51st St., Delmonico’s Kitchen located at 207 W 36th St., and Café Del Sol. To set us apart from this direct competition, we will offer a wide range of high-quality products and first-class customer service. Restaurants use competitive prices in when nearby restaurants offering similar cuisines change their prices (De Silva, Elliott & Simmons, 2013, pp. 55). We will design our restaurant to provide a more comfy and ambient environment to attract customers. Additionally, the direct competition offered by these restaurants is minimal since they are a number of blocks away from our location.

Indirect Competitors

            The main indirect competition is posed by Pig ‘N’ Whistle located at 202 w 36th St which is an Irish pub that also offers some Irish Cuisines. The competition from this joint is minimal since they offer products that are quite different from our products and they only target a specific community, specifically, the Irish Community. Our target market is quite larger and we offer products that are highly demanded by the greater percentage of the population operating in the area.

Section H: Market Segment Analysis

Target Market

            Our target market includes daily commuters, shoppers, tourists, workers in neighboring offices, business owners, and students who use or operate around the 202 West 36th St corner 7th Ave New York bus station. The fast-food industry has experienced extraordinary growth that has been propelled by fundamental changes in the American society and now every single day in the U.S., over a quarter of the adults purchase from a fast food restaurant (Schlosser, 2012, pp.3). The bus station has a lot of traffic and New York in large is highly populated with busy people and particularly young people who highly prefer fast foods because of its convenience. Our products will be of the highest quality and will include takeaways and deliveries to ensure our customers who tend to lack sufficient time to catch a meal access it readily even in their offices or workplaces. Our vast variety of fast foods and unique recipes will attract fast-food lovers because we will emphasis on healthy living.

Section I: Analysis of Potential Location

            The Delicious Cuisine will be located at 202 West 36th St corner 7th Ave New York. It will be next to the bus station and adjacent to Pig n Whistle Irish Pub. E 36th St & 7th Ave New York, NY 10018 neighborhood is has a lot of traffic since it has many offices, shopping centers, and big businesses and its coastal setting also attracts a lot of tourists (Neighborhood Scout, 2017). We will rent out a hall next to Pig n Whistle Irish Pub in a shopping mall. Our hours of operation will be between 05:00 am to 10:00 pm every day of the week. The location of the business is convenient to our customers because it has sufficient and secure parking space availed by the mall. Our location is next to bus station meaning out staff and customers have access to public means of transport by walking to the front of the restaurant. The area is relatively secure with minimal crime rate because it is mainly inhabited by young professionals and business owners with high incomes. We will be located next to other complimentary business such as Pig n Whistle Irish Pub, Union Bay Sportswear, Greenpac Corporation, Bng International, and Melina Studio which are all frequented by customers offering us an opportunity to tap on that readily available market.

Section J: Ownership Choices

            The ownership of the business will be a partnership. The choice of the partnership is based on the close relationship of the two founders, Mr. John Keys and I as we go back as friends since our childhood days and our dream to own a thriving restaurant business one day and hopefully a franchise in future. A partnership will allow us to raise the necessary startup capital. It will also give us an opportunity to combine our specialized skills, knowledge, and experience to run a thriving restaurant offering world class services to our customers.

Section K: Personnel Needs

            Mr. John Keys will be the overall manager of Delicious Cuisine because of his vast experience in managing fast food restaurants in the past. He will be in charge of the business side of the restaurant and will head the management team. He will also be in charge of service delivery and customer relations. On the other hand, I will be in charge of the chefs and all kitchen affairs and will be instrumental in designing innovative recipes for the restaurant.

Section L: Hiring Strategy

            Recruitment of staff members will mainly entail bringing together past colleagues whom we have worked with and are certain of their quality service delivery and dedication to their roles. We will also recruit interns from neighboring Culinary Colleges and Schools so as to ensure we cut on employment costs.

Table 3

Delicious Cuisine Employee Salaries

Position Salary
General Manager (Partner) $40,0000
Executive Chef (Partner) $40,0000
Assistant Chef $22,0000
Line Cook $18,000
Assistant Manager $15,000+Tips
4 Servers $3/hr+Tips
Dishwasher $6/hr 

Section M: Proposed Product or Service Plan

            Delicious Cuisine will offer fresh and high-quality chicken, fries, coffee, fresh juice, lemonade, burgers, pizzas, nuggets, and sausages in New York. We will offer a variation of these products ensuring we serve the most sought after products in the New York. We will be innovative and come up with new product lines and variations regularly to ensure we maintain a competitive edge over our competitors and are up to date with fast food trends in the City.

Section N: Proposed Pricing Policy

            The pricing policy for Delicious Cuisine will be competitive pricing that gives the restaurant an upper hand over neighboring restaurants and still realizes profits without compromising on the quality of products to guarantee our consumers the greatest utility.  Our markup pricing to ensure the business can cover costs will be 40%. Competitive pricing can help a business achieve higher sales volumes and gain favorable market share at the expense of its competitors (Enz, Canina, & Lomanno, 2009, pp. 334). We target to have frequent repeat customers and yet still ensure they get a new unique and exciting experience every time they visit. Our prices will be lower than those of our competitors yet offer highest quality products possible. During the first month after opening, we will offer introductory discounts to attract customers because our business will be based on driving profits through volume sales.

Section O: Proposed Promotional Plan

            Promotional activities can help a business to explain its existence and sustain a healthy, positive relationship with its customers (Novak, 2011, pp. 24). We will strive to promote our brand and business more than our products because the reputation of a brand influences the demand for products. The brand and business will be promoted through brand integrity, unique and amazing menu list, world class customer service, and the ambient environment. We will promote our business mainly through social media platforms such as Facebook, Twitter, Snapchat, and Instagram.

Section P: Place

            Delicious Cuisine will be designed to reflect the founders’ emphasis on detail that captures cuisine, design, mood, and settings. The restaurant will be ultra-modern in its design with elegant yet simple décor that gives an exciting feeling. The dining room will have a capacity of 40 tables and there is a private room for 20 guests.

Section Q: Income Statement

Table 4

Projected income for the year 2018

  2018
Sales $19,858,200
Direct Cost of Sales $8,825,100
Gross Margin $11,033,100
   
Expenses  
Payroll $1,723,680
Sales & Marketing & Related expenses $80,000
Depreciation $14,000
Utilities $30,000
Insurance $25,000
Payroll Taxes $100,000
Other Taxes $20,000
Miscellaneous $10,000
Total Operating Expenses $2,002,680
Profit Before Interest and Taxes $9,030,420
EBITDA $9,130,420
Interest Expense $45,0000
Tax for the year $1,820,286
Net Profit $7,210,133

References

De Silva, D., Elliott, C., & Simmons, R. (2013). Restaurant wars: spatial competition in UK          restaurants.

Enz, C. A., Canina, L., & Lomanno, M. (2009). Competitive pricing decisions in uncertain            times. Cornell Hospitality Quarterly50(3), 325-341.

Hartman, L. (2016). What The New Food Demographics Mean for Food and BeverageFood       Processing. Retrieved 16 January 2018, from       https://www.foodprocessing.com/articles/2016/new-food-demographics/?show=all

National Restaurants Association. (2016). New York: Restaurant Industry at a Glance. New          York. Retrieved from http://www.restaurant.org/Downloads/PDFs/State-      Statistics/2016/NY_Restaurants2016

Neighborhood Scout. (2017). E 36th St & 1st Ave New York, NY 10016, Neighborhood Profile –             NeighborhoodScoutNeighborhoodscout.com. Retrieved 16 January 2018, from             https://www.neighborhoodscout.com/ny/new-york/36th-st

Novak, D. (2011). Promotion as instrument of marketing mix. In International Symposium            Engineering Management and Competitiveness (pp. 24-25).

Schlosser, E. (2012). Fast food nation: The dark side of the all-American meal. Houghton Mifflin Harcourt.

Statista. (2017). Fast food industrywww.statista.com. Retrieved 16 January 2018, from             https://www.statista.com/topics/863/fast-food/

The Food Institute. (2017). Demographics of Consumer Food Spending (2017 Edition).    Retrieved from https://foodinstitute.com/catalog_files/products/Demo2017Sample.pdf

Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2013). Business research methods.          Cengage Learning.


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