Fast Foods Restaurant Business Plan: Full Services Geared Towards Full Customer Satisfaction Report

Executive summary

The restaurant’s name will be “Excellent” and will be providing full services geared towards full customer satisfaction. This will be ensured through excellent delicious food, services and quality staff purely motivated towards producing and offering excellent results. The environment will be furnished to provide the customers with fairness in terms of prices, hospitality and respects towards diversity, ideas and hard work. The business will be based on partnership supported by experienced staff. Starting-up capital from the partners will amount to £ 26800 for assets and will further seek an additional loan of £30,000 to finance the business. The loan will be paid from the cash flow of the business, collateralized by the business assets, and backed by the character, experience, and personal guarantees of the owners.

The restaurant business shall offer fast food service to customers around sporting stadiums throughout England. The location of the fast-food restaurant favoured Liverpool area of United Kingdom. The reason for the choice of Liverpool is that we intend to begin our business around a soccer stadium in a country which has an internationally followed soccer league. The Anfield Stadium around the city is large enough to ascertain the ready market and customer base for our services and food. Pizza is the fast food we intend to sell.

Seafood may also be offered, but the market analysis found pizza preferable since many people around these regions are soccer fans. Pizza consumption trends show that at least a fan eats a packet of packed pizza during the entire ninety minutes of a soccer match. The weekends shall be the peak sales days besides having sustainable sales during the weekdays. We have a strong belief that this availability of market and the fact that fans will have this service about them makes the business highly viable and profitable (Burtler, 2006).

Background of Business Owners

The business is to be taken by six former college graduates from a university in Liverpool. Two are holders of Bachelor’s degrees in Hotel and Hospitality management, three are holders of business management Degrees, and one has a Higher Diploma in Marketing. The success of the business during our undergraduate years convinced us that we had the correct educational backgrounds and experience to handle every aspect of fast foods restaurant.

Objectives

1. To manage our business to cover the entire UK through the establishment of fast foods restaurant chains.
2. To reach other markets considering diverse cultural eating habits
3. To use the marketing power of internet technology to reach regional and international markets.
4. To take over and embrace mergers with our competitors in order to meet the demands of the large market.

SWOT analysis and personal development needs

The rationale for conducting market research, first around the chosen location for starting our business was pegged on the determination of competitive advantage against other service providers. Secondly, we came up with a conclusion that for our start business, any anticipated effect was entirely from the external environment. This led to our assertion that the internal environment is almost insignificant.

Strengths

1. The mode with which we intend to conduct our business will create a new service in the location.
2. The service has not yet given the customers an option to carry away the food.
3. The near-to-stadium proximity gives us a competitive edge over our competitors.
4. Our diverse skills professionally and experience presents us with an opportunity to hire and train the right kind of manpower.

Weaknesses

1. The restaurant lacks establishment capability due to its start-up status
2. Weekends are the only peak sales days
3. Implementation is limited by lack of funds
4. The expected market shall be larger than our start-up facilities.
5. Manpower for the business is limited due to its start-up status

Opportunities

The fast-food restaurant has an isolated market and presents the following opportunities.

1. The English Premier League has led to the emergence of soccer academies around and away from the location of the business.
2. The location’s proximity to the coastal beaches extends our services to tourists
3. The competitors are dispersed away from the location
4. We anticipate to sale in weekday due to the presence of colleges in the vicinity.
5. There is a ready market for future expansion

Threats

Our competitors are already established and may use their financial power to compel us into the competition. Besides, rent may increase in future during the renewal of our rental contract, thus eating into our profit book. It is factual that price wars will erupt from our competitors leading to a drop in the prices of fast foods restaurants (Katja, 2006).

Management and organization

The required number of employees will be 15. Hiring criteria will be based on academic qualifications and working experience of not less than three years in their respective capacities. The management will be assisted by a team of caterers and hoteliers who should be experienced and qualified to serve, dedicated and hard-working. Out of the fifteen, five should be pizza making experts; the remaining ten will be distributed as needed.

Personal training needs will be required since this shall be our first ever time to handle human resource. As a result, we need short term training needs in how to handle a staff of different backgrounds in education and culture. The management will offer the employees some days for training so as to improve the knowledge and skills of the employees. The employees, after some time, will be offered benefits package that includes health and vacation. The managers should possess abilities in controlling and coping with major changes and challenges within the market. The managers would require valuable information on the current market trends without relying so much on their past performances. They will be required to improve on their level of interaction and communication skills.

Legal requirements and legislation

The employees will work under European Health and Safety at Act (1974) and the European Working Hours Directive. We intend to fully have the business under the Environmental Health Acts; which is a registration and inspection of food and drinks manufacturers’ and distributors’ premises. Certificates will be obtained for the relevant Acts as mentioned above for the purposes of compliance.

Funding the business

Start-up businesses require further funding in order to boost their capital base (Charles, 2003). We intend to acquire loan capital to finance the business. Banking institutions shall be approached since they have attractive interest on borrowed loans. The repayment periods and pattern are also negotiable with these banking institutions.

Marketing

Area market analysis revealed that fast foods restaurants are a need in the chosen location (Adams, 1996). Advertisement will employ the use of a social networking site on the internet and fees flyers as well as posters (FiField, 1993; Erdener, 1993). In order to assure our customers of the quality, quality standard registration documents will also be circulated on the internet. The restaurant will work out on business models through appropriate segmentation to enable them to work comfortably with the changing marketing trends within the global environment.

This will also ensure professional training of the employees on the marketing and sales strategies in accordance with the nature of the environment. The restaurant will, at some point be ready to diversify its sales in order to catch up with the consumers changing trends on tastes. This means that other food products sold would be accompanied by quality services, including reasonable prices. There will be need on improving quality of the food offered through the invention of the unique recipe and at the same time require management team capable of implementing firms marketing programs, and having the ability to build internal cohesion (Bplans.com, 2010).

The current business environment encourages the promotion of products through social sites marketing. Considering the largest target market being football fans, insignificant investments in social sites, adverts will have significant performance in product sales. This is because internet marketing has the advantage of being easily accessible and inexpensive compared to other forms of advertisement. The restaurant will also consider promoting its food products through sponsorship of school sporting events; they will utilize such events for the purposes of selling off their food products. These methods will work since they help in building a customer base and making the restaurant appear superior through high sales within the market, and also giving the opportunity of responding directly and adequately to consumers’ dilemmas.

Implementation and monitoring

The business will be run as a partnership (Rainsford and Bangs, 2008). The legal requirements’ compliance shall be achieved through training programs mainly to our staff. Research and development shall be undertaken as a long term goal for market analysis and marketing due to limited funds to finance it (Robbins, 2008). Market availability counters any delays in the implementation of the business. As a result, delays pose no risk in this business (Reuvid, 2006). Furthermore, a contingency plan will be put in place to handle any possible risk threatening to delay the implementation of the business. We shall ensure the sustained success of the business through monitoring of customer satisfaction trends, periodic analysis of market trends, absolute adherence to legal requirements and proper bookkeeping and analysis (Andrews, 2007).

Financial analysis

Our business shall be conducted purely on a professional accounting basis. Our colleagues with a business management background will be mandated with bookkeeping (Ryan, 2004). Until breakeven, we expect the first year to incur expenses due to implementation (Tony, 2008). However, we expect to break even earliest since the market availability has this capability (Partricia, 2002). The start-up inventory budget was prepared with the assumption that inflation rates could not fluctuate in the near future to justify its viability (Totten, 2006).

References

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Andrews, 2007. Introduction to Tourism and Hospitality Management. New Delhi, McGraw Hill.

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Bplans Com., 2010. Business plans for beauty and hair salon. Web.

Burtler, D., 2006. Enterprise planning and development: Small business Start up survival. Burlington: Elsvier.

Charles, G., 2003. Financing the Small Business. Avon: A streetwise Publication.

Erdener, K., 1993. The Global Business: Four key Marketing strategies. New York. International Business Press.

FiField, P., 1993. Marketing Strategies’: the difference between Marketing and Markets. Barlington: Elsvier Ltd.

Katja, A., 2006. Design and use patterns of adoptability in enterprise systems. Berlin: Verlag.

Partricia, P., 2002. Retaining your Best Employees: Nine Case studies from the Real World of Training. New York: ASTD.

Rainsford, P., & Bangs, D., 2008. The restaurant planning Guide. Dearborne: Upstart a publishing group.

Reuvid, J., 2006. Start up and run your own Business. London: Kogan page limited.

Robbins, S., 2008. The truth about Managing People. New Jersey: FT Press.

Ryan, B., 2004. Finance and accounting for business. London: Thomson Learning.

Tony, G., 2008. Management Account Financial Strategy. Burlington: Elsvier.

Totten, M., 2006. Financial Planning. Altimo: Career FAQS Pty. Ltd.