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Business Plan Entrepreneurship Essay

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Updated: Mar 8th, 2019

Subway Sandwiches Restaurants

Introduction to subway sandwiches restaurants

Subway Sandwiches restaurant is a type of food industry and it has more branches in different countries selling quick and nutritious meals. It offers Americans franchise with low capital to begin their own restaurants.

Subway Sandwiches restaurant is the type of business proposal selected in the city as the decision to invest in restaurants has no stiff competition in the city as few entrepreneurs, who does not as if investing in it and it requires less capital (Capon, 2009). Subway restaurant produce submarine sandwich products to their customers in many parts of the world.

Business Plan Entrepreneurship

Business plan are important processes in starting a business activities by an entrepreneur that should follow when creating business ideas for starting a business. A business plan is an official declaration of company targets, aims of the planned dealing and the plans intended for accomplishing the previously instituted targets.

The average time of opening a subway store is usually a period of seven months. Subway restaurants will make fast food brands using frozen in order to have a consistency products and low costs of production. Business plan entrepreneurship involves various steps to be followed when starting up any kind of business in the market so that the business can succeed in a competitive environment and to meet customers’ needs and wants (Capon, 2009).

Competition analysis

Competition analysis is the process of evaluating and analyzing the SWOT analysis: Strengths, Weaknesses, Opportunities, and Threats factors that are affecting the internal and external environment of the business to the competitors (Hirsch & Peters, 1998).

Subway Sandwiches restaurants will have to be competitive to remain in the market by providing better and quality services to their customers. Subway restaurants faced a lot of competition from sandwich chain, Quiznos that made subways to also toast submarine sandwiches (Capon, 2009). Subway franchise also introduced fresh toasting to compete with Quiznos in the market share.

The introduction of Sub Club Cards to be given to customers for redeeming their points for free standard sandwiches will attract more and retain more customers in the market than their competitors. The managements of the restaurant should be in a position of doing a thorough research on the needs and wants of their customers to provide them with what they want as per their tastes and preferences.

Market Subway Sandwich Restaurant

The business is named, Subway Sandwiches restaurants will be involved in the food service industry, as it will be selling food sandwiches like submarines sandwiches, salads, and personal pizzas in the market. Subway restaurant is owned and managed by Doctor is Associates, Inc and is in many parts of the world franchises.

Subway restaurants will provide better services to the customers to retain their customers and bring new customers in the restaurants. Customers will be served with hot and fresh sandwiches as per their order and having different quantities and qualities of tastes to attract more customers. Subways restaurant will promote their restaurants through television advertisement as one of the promoting tools of the restaurants and foods that are prepared in the restaurants to attract more customers than their competitors.

Economic, social, and ethical dilemmas in Subway Restaurant

The restaurants business should follow the following conducts and policies for it to operate in the market both as an individual and as a business level. The economy of the country will be a factor to consider when sitting the subway sandwiches restaurants to meet most of their customers’ needs and wants.

The restaurants will be situated in the City, as this is place where more people will demand the sandwiches as in Muslim countries will be provided with halal menu. Subway restaurants should be able to face a stiff competition from pizza franchising and economic problems.

Pricing of the products will be a problem since consumers will be more sensitive with the price. Managers of the restaurants will have problems in dealing with the ethical beliefs and standards with the environmental ethics. Evaluating the multinational with their conflicting norms and expectations of ethical issues and how to tackle them. The social issues in the United States include obesity, which is known to be caused by taking sandwiches foods and snacks.

Market demands and labor activities have drastically changed the social activities in the United States as the government has supported social responsibilities. Healthier products have led to an increase in economy of the state as its sales increased sharply in the demand of healthier and premium products. Due to economic values in the subway business of the restaurants have led to the establishment of implicating the costs of facilities, equipments and inventory of the restaurants.

Economic value of McDonalds changed by negative 0.2 and increase of 0.5 percent in overall. The economy of the United States prospered more due to employment opportunities that the restaurants created and provided to the people. Due to stiff competition from other restaurants have resulted to better sandwiches provided to consumers in the market.

Marketing plan of the business

Marketing plan is a written document that gives the details that are to be used to achieve the goal and marketing objectives of the proposed business to attract and retain more customers than the competitors. Marketing plan of subway restaurants will be having different menus that will be varying by stores, country, and market. Eat fresh everyday will the advertising slogan for subway restaurants as this will help to explains to the customers how they use fresh ingredients in preparing their sandwiches.

Subway will use various methods of promoting the business like using the instant win competition based on the game scrabble to create awareness and attract more customers than their competitors. Subways will also advertise their restaurants in televisions and product placement method that has been their routine in the past years to promote their restaurants.

The use of Sub Club Cards which are small cards to be given to customers and which will be used to reward their customers with free standard sandwiches by redeeming their points stamped in the cards. This will increase and encourage more customers to their restaurants who will be joining for the free standard sandwiches.

Subway’s marketing strategies will be cash on delivery that is a customer pays for his order first before taking his or her food sandwich. This strategy will help in reducing increase in customers’ bills, no long queues, and hassles of in the queue as it is going to be fast (Hill, 2005). They will employ qualified employees who will be able to provide better quality services to their customers, and in this way, they are going to attract more customers than their competitors in the market.

Funding criteria of the business

The funding criteria of the proposed business should be determined and at the same time the cost of operating the business to be evaluated for effective running of the business. Capital of starting the restaurants can be got from the financing programs for franchisee subways.

Opening a subway restaurant needs a total of $ 238,300 as required by the Franchise Mall. The franchising fee and running expenses should be included in the starting capital for the first three months. Planning on how to pay the franchise fees and knowing how much it costs. Packaging costs, lease terms, cost of constructions and equipments needed in the restaurant should be planned and catered for when planning on the capital funds.

Capital Sources

Capital sources are the resources and assets that an entrepreneur needs when he or she is planning to start and operating a business of his or her own, and subway restaurant needs approximately $ 285,000. The cost of starting up the restaurants can be from franchise owners, loans from banks and personal savings. The starting capital ranges depending on the size of the food chain, location of the restaurant, equipments needed in running the business and scale of operating the restaurant also affect the capital needed to operate the business.

Exit strategy of the business

Exit strategy is the last part of any business plan outlines and it helps the owner of the business or the entrepreneur to consider the long-term plans of the business. The exit plans of subway restaurants are changing since franchising is developing and is more complex (Hirsch & Peters, 1998).

Franchisor were the one who introduced the business should and they have now employed new staffs who will be responsible for running the business since they have knowledge and skills in management. Subway restaurants will also be traded publicly and will attract more investors like the equity investors. Subway restaurants will operate nationally as the capital increase with time.

End State Goal

The end state goals of subway restaurant wants to be ranked the first restaurant that have the fastest service in the world, and also having the greatest tastes and freshness of its products to become their trademark in the market (Hill, 2005).

How and why the entrepreneur chose this business idea

The main reason as to why the entrepreneur chose this type of business idea was that the entrepreneur believed in food industry type of business in the market.

The idea of Subway Sandwiches restaurant was a better idea because there were few restaurants in the market and the demand of the population were high, further more the few restaurants that were operating in the city had more customers who made this type of business to do well (Capon, 2009).

The idea of food industry was what the entrepreneur did in college and is one of the experiences the entrepreneur got from past employment jobs the entrepreneur did in the city. The entrepreneur had friends whom they used to school together while in college advised the entrepreneur on starting the sandwiches restaurants as they had skills and knowledge of handling restaurants.

References

Capon, C. (2009). Understanding the business environment. New York, NY: Financial Times Prentice Hall.

Hill, L. W. C. (2005). International business competing in the global marketplace. New York, NY: McGraw-Hill.

Hirsch, R. D. & Peters, M. P. (1998).Business plan entrepreneurship. Boston: McGraw-Hill.

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