A Unique Restaurant Mobu Community - Coursework Example

 A Unique Restaurant ‘Mobu Community’ Executive summary ‘Mobu Community’ will be a unique restaurant and exciting dinner show that would fulfill a personal goal of providing the target market with a dining experience, not as just another place to eat. Mobu Community Restaurant’s emphasis will be placed on quality fast food products and organic multicultural food and drinks. It would also primarily look at providing legendary hospitality. The restaurant is expected to start on March 2009 in the rapidly expanding multicultural district Peckham. The area is in great need of warm and friendly environment with excellent multicultural food and drinks. Comfortable furnishing and soothing warm decoration will attract many customers as it will be a perfect place to stop in for a small treat dining, for a drink or for even a business meet. The restaurant offers wide range of ethnic ingredients and recipes from across the world. The menu will be prepared based on different countries specialties and hence it would be varied, international and tasteful extravaganza. Customers would be able to taste different international foods like Chinese food, Indian ingredients, Arabian meals etc. Moreover the restaurant employs its staffs from the villages and gives training to them so as to enable them prepare most quality foods and serve a friendly atmosphere within the restaurant. The restaurant would be able to offer a trendy, fun place to have great food in multicultural and social environment. The restaurant will be open seven days a week providing relaxed. The management plans to hire the best people available and to train, motivate and encourage them towards customer oriented multicultural food services. Pip Academy holds the major shares of the restaurant and hence it will be having greater hold on management decisions and practices. The management team is comprised of individuals who has more than 10 years of experience background in food, restaurant and resort management, catering, marketing management finance and customer orientation practices. The main target audience will be general public as well as rich hippies who normally demand organic food and drinks as well as ethnic cuisine. The targeted market includes 350,000 Peckham population and more from other districts as well. The second group targeted is young families with double income, which are growing at an average regional annual income of ₤ 28000. Financial success is most important to us and hence the restaurant management believes that this financial success can be achieved through high quality customer oriented services and excellent organic food and drinks. The market and financial analyses show that Mobu Community Restaurant will increase sales by more than £ 200,000 over three years while maintaining a gross profit margin of 75%. Since restaurant start-up is so speculative, the belief and commitment of the management to the potential investors will be to pay a generous rate of return. Once the business becomes more established and strong, our ability to pay an improved return of capital will be proved by an increased rate of 15% of original principal. Business Objectives The main objective of Mobu Community Restaurant is to serve an excellent organic multicultural food and drinks and to celebrate high society of the area through skits, acts, music, demonstrations and fantastic dances. The restaurant aims at both day and night services and thereby provide all the possible facilities at all times. The financial management aims at gross revenues of £ 80000 by fourth month and to attain q total sales of £ 140,000 in the first year. The management aims at increasing sales by 67% in the first year and by 40% in the second year. The expectation and estimation of the management is that costs of food and drinks should not exceed 4% of the total operation. Sharon L Fullen states that business objectives and goals should cover both short term and long term expectations of the business. The goals should be typically measured in dollars or other tangible results (Sharon L Fullen, p.56). Mobu Community restaurant should deliver a dramatic, unbelievable and international menu to the customers. The customer satisfaction from each kind of services offered should be assessed and analyzed through internal and external surveys held in six months. Continuous analysis and outsider inspections will be conducted so as to ensure customer satisfaction with the services provided. Mission Statement Our mission is to continually provide our customers with quality multicultural organic food and drinks at the lowest possible prices. In order to achieve our mission goal, we will conduct our business with the following basic keys, provide quality food and drinks along with quality services, take care of our customers, take care of our employees, respect our customers and reward our share holders. We value our business and realizes why we are in the business and what kind of services we are supposed to offer and customers expect from the restaurant. According to Sharon L Fullen, a mission Statement of a restaurant is quite similar to the objective section of a resume. It should capture the reasons why the management and owners is in the business, what they want to accomplish with the restaurant, who the business serves and what the business will be (Sharon L Fullen, p.54). Mobu Community Restaurant offers an inspiring extravaganza of international and multicultural organic food and drinks. This revue includes shows in different timings, acts, skits, entertainment dances and music for the customers. . The priority of our restaurant services is given to customer satisfaction by providing right service along with right information at right time and right place. The mission is to provide great tasting food and drinks as well as to offer efficient and friendly service because customer satisfaction is imperative. The restaurant wants to be the best choice for all families and singles, young and old, male or female. We also emphasize on community services, family involvement and social dealings. Peter Rainsford and David H Bangs are of the opinion that many restaurateurs find that the lack of time for family, community and personal activities (hobbies, sports, reading and so on) is the highest price they pay for restaurant ownership. During the start-up period this price is reasonable (Peter Rainsford and David H Bangs, p. 12). We will always be deeply engaged with multicultural community activities of Peckham people. Mobu Community Restaurant would be an excellent workplace for the employees as it would provide extremely professional environment in a challenging way, rewarding, creative and respectful of ideas and individuals. Employee welfare will be equally vital to the success of the business because we want to make sure that our guests are treated most fairly. Happy workers only can make visitors happy. Mobu Community Restaurant provides exceptional values to its customers and fair reward to its owners and employees. How customers observe and satisfy with our services is very essential to us and hence we propose to implement mystery assessment throughout our restaurants. We focus on employees as they need to greet, smile and convey ‘thanks’ to the customers. We wish to adopt strict service standards as our employees are required to ensure that our customers should be treated the best way and they must feel always welcomed at our restaurant. We focus on skilled and qualified employees as they need to be excellent in communication, serving, food preparation, cleanliness, and especially in solving or preventing problems because we ultimately recognize that the best impression of Mobu Community must always be delivered to the customer. The assessment session emphasizes on continuous improvement and it assesses each service group and evaluates the performance of employee for the interaction with the customer. Success keys Mobu Community Restaurant proposes few measure to be taken so as to achieve great success in its goal. The restaurant will be dedicated to the finest quality ingredients and quality services to be offered to its customers. It plans to provide ongoing education and recognition programs to the employees to ensure fair treat to the customers. There would be fierce competition from among other resorts, hotels and restaurants, but creating as a unique and innovative fine dining atmosphere with unparalleled design and decoration will distinguish Mobu Community Restaurant from others and hence it can share great share of the market. Product quality and wide choices of international foods and drinks available at our restaurant will be a success key of the restaurant as it would attract more customers. The restaurant would be a model in fulfilling the promises and trustworthy expertise in operation. Unusual interior design, outdoor facilities, customer enjoyment with dancing and other entertainment programs, leadership and efficient management of shows will be some other ways to the success. Business Summary Mobu Community Restaurant will feature an outstanding new style and innovative dining atmosphere with lunch and dinner menus and all other types of meals with soft and other drinks. The menu is inspired from different continental specialties and will provide a varied, international and tasteful extravaganza. The business will be open everyday serving lunch from 11.30 A.M to 3.00 PM and dinner from 5 PM to 10 PM. In order to be more multicultural, there would be paintings and beautiful drawings at different areas of the restaurant. Art works are always welcomed and will be shown frequently so that public can get opportunity to show their works. Start-up Summary and Financial Report Mobu Restaurant’s management team is well aware that ‘money makes the world go round and hence we give much importance to the financial status of the business. According to Sharon L Fullen, a financial feasibility report is very important for a restaurant business as it looks at how much money it takes to accomplish a goal and whether it will pay for itself, while the financial report section of the business plan looks at the anticipated view of the financial future (Sharon L Fullen, p.88). We will be able to establish shops in March 2009 turning back a profit by the end of the month and be profitable in the next year. We plan to commence with a total of £ 80,000 in capital and £ 150,000 as a loan to start up the business. Start-up Start up expenses Legal Expenses £ 1500 Stationary expenses £ 1500 Other Expenses £ 2000 TOTAL START UP EXPENSES £ 5000 Start up assets required Cash Balance on the date of starting £ 130,000 Other current assets £ 100,000 TOTAL CURRENT ASSETS £ 230,000 Long Term assets TOTAL ASSETS £230,000 Total Requirements £ 235,000 Funding Pip Academy £ 60,000 Investor 1 £ 10,000 Investor 2 £ 10,000 TOTAL INVESTMENT £ 80,000 Current Liabilities accounts payable £ 2000 Long term liabilities Loan £ 150,000 TOTAL LIABILITIES £ 152,000 Loss at starting up (£ 2000) TOTAL CAPITAL £ 78,000 TOTAL CAPITAL AND LIABILITIES £ 230,000 Mobu Restaurant Products and Services International creative food and a different style of quality services will make our customers feel always welcomed. The food and drinks menu is going to be extremely simple but ever changing with new ingredients and styles. Our chef will have great latitude in designing and preparing menu offerings from many different international renowned food styles. The restaurant also puts in efforts to acquire great ways of different cooking styles and methods from different international specialties. We management team wants to be quite specific about the products and services we offer to the customers. Rhonda Abram and Eugene Kleiner say that it is highly important to any starting business to clearly identify and describe the nature of the products or services provided. The business plan should also specify the products and services that it is going to offer to the customers (Rhonda Abram and Eugene Kleiner, p.64). The menu would be moderate sized, and moderate low priced offering a collection of ethnic, American and international food and drinks with a common theme of healthy, low fat, low cholesterol and natural ingredients. There has been growing awareness of natural and health concerns in recent years and hence Mobu Community Restaurant gives much importance to the public health and general concerns. Our wine list also will be modest in size and primarily focused on wines from California and New Zealand. We will also feature a moderate international beer selection on bottles. During busy summer times, we will offer facilities outside the restaurant so that customers can sit outside on our patio and we will offer a summer menu with lighter fare, exotic drinks and not alcoholic treats as well. The restaurant staff will offer the cool services in a cozy atmosphere and offer customers an extraordinarily joyful evening. Moreover, we propose to offer colorful, haute culture actors by day times and entertaining optional activities at evening along with dinner shows that will be amazing to the customers. The table side services would be extremely fun and unique. Marketing Plan According to Sharon L Fullen, a market analysis should look at issues such as food and health trends, competitive influences, economic conditions and population characteristics that affect sales volume of the restaurant (Sharon L Fullen. p. 105). The restaurant team values the opinion of Rhonda Abrams that thorough understanding of the potential customers is highly important. If we do not know who are our customers we won’t be able to assess whether we could meet their needs (Rhonda Abram and Eugene Kleiner, p.87). Mobu Community Restaurant’s target market and customer desires are well defined so a to make effective assessment and improve in its business further more. Segmented Market and Competition Our market is segmented in to three different psychographic namely comfort creatures, celebrators and soccer moms. Comfort creatures comprise of white collar workers who are being motivated by success and prestige. Celebrators are those who come to celebrate special occasions. Birthday, graduation ceremonies, valentines’ day parties, anniversaries, school days, teachers’ day programs etc are some of the celebrations people come and enjoy occasions at a restaurant. Soccer Moms include all types of family members. ‘Moms’ will come in for after school milk and cookies with their kids to relax and enjoy evenings. Apart from this main sect, a smaller sub-section of locals of Peckham district will visit the restaurant. We understand the value of segmenting customers and defining different segments of the targeted market. Sharon L Fullen opines that a powerful tool in developing a restaurant is marketing concept is to create a customers profile based upon geographic, demographic and economic data and personal observations (Sharon L Fullen. p. 111). The Mobu Community Restaurant is creating a new arena in the food service industry sharing similarities and hence being able to compete with several kinds of fast food businesses. Instead of waiting for customers until they come to visit the restaurant, we should concentrate on targeted segments of comfort creatures, celebrators and soccer moms whose needs match our offerings. We need to concentrate on our marketing message and our product offerings. The restaurant’s messages need to be developed and communicated effectively to the potential customers and employees. There is fierce competition within the industry between restaurants who put in maximum efforts to provide high quality services so as to attract more customers and to compete with others. The restaurant industry strongly relies on word-of-mouth recommendations and reputations over advertising. The management team understands that word of mouth is significant factor in retaining satisfied customers for long term and to hold a better share of the market and will take action to increase the reputation of the business. Customers will attract to Mobu Community Restaurant because we will offer actors who will dress up in the mall handing out brochures. Sponsorship activities like appearing on the public boardwalks and streets such as competitions, conventions and more will also attract more customers. The personal and face to face interactions with customers in excellent dining experience will make customers choose our services. Nowadays, there are great hotels and restaurants providing innovative facilities and highly advanced decorations like waterfalls, great motifs etc, but these are lacking human elements. When there is a host or server who physically welcomes customers and shakes hands, it would probably make multicultural and yet friendly atmosphere to the guests. Marketing Strategy The restaurant has an initial Marketing Plan as it compasses a number of activities to be implemented within 30 days period immediately after the opening in March 2009. this initial plan includes basic marketing functions that are communication the messages, selling oods and drinks and delivering the product as our customers expect. Communicating the messages News releases: The marketing management aims at sending news releases to all media sources announcing openings to newspapers, radio and television channels. Direct mails: By sending letters announcing opening to the nearer areas in zip codes within Peckham district representing 10000 recipients Personal calls: our marketing management aims to call most businesses within the district areas. Selling Our Product The marketing management aims at training staffs to build rapport with our customers and to treat customers fairly in a way that they should always feel welcomed to the restaurant. Train staffs to sell our highest margin items Delivering products Management plans to work on master plate presentation with kitchen manager to offer an appealing color balanced plates. Train servers on the importance of first impression while customers enter in to the restaurant. Train servers that certain items have long cooking time due to our goal of freshness and other styles of cooking. This initial marketing plan requires all staffs to be involved and daily feedback of the performance and analysis. The marketing strategy includes refusal to adopt typical high cost advertisements in television and digital billboards or internet campaigns. Secondly, word of mouth advertising should be given priority. Sales in our restaurant are ultimate service provided to the customers. The employees and staffs should work for the clients in a manner that would make friendly atmosphere to the customers to enjoy laughter. Paying attention to the people, listening and talking with them, admiring their faces will enable employees sell truth of genuine customer relation and true services. Staff Needs and Training Based on the Restaurant’s projected revenues, we will need to employ thirty servers at an average of £ 6 per hour and Two kitchen managers at approximately £ 35,000 per year. Six cooks at approximately £ 10 per hour. Four dishwashers at £ 8 per hour. The staffs listed above and other staffs will have annual payroll costs of approximately £ 265,000 including employers’ social security contribution and medical care contributions. The staffs will be given one week paid vacation for each full time employment. Employees will be trained in all areas of their workplaces. Future Plans and Goals While our restaurant grows, we will need to look for other sources of revenues for additional profits and continued annual sales. We will have party trays and catered food for pick ups and deliveries. We also will gradually focus on retail items within the restaurant like hats, t-shirts, mugs and homemade items. The business will expand to other places where it can attract more customers and thereby widen its reputations. Conclusion This work presents a detailed business plan for starting a multicultural restaurant that provides organic food and drinks. The executive summary provides an easy understanding of the size, and type of the proposed restaurant business. This business plan includes business objectives and start-up financial analysis of Mobu Community Restaurant. The marketing plan includes marketing strategies, sales, advertising and competition analysis of the restaurant. References BRUCE R JEWELL (2000), An Integrated Approach to Business Studies, 4th edition, Pearson Educational Limited, Edinburg gate, England. DAVE HALL, ROB JONES and CARLO RAFFO, (2001) Business Studies, Second Edition, Cause Way Press Ltd, Ormskirk, Lancs PETER RAINSFORD& DAVID H BANGS (2000), The Restaurant Start-up Guide: A 12-month Plan for Successfully Starting a Restaurant, Kaplan Publishing PHILIP KOTLER (1994), Marketing Management, Analysis, Planning and Control, 8th Edition, Prentice Hall of India. RHONDA ABRAM & EUGENE KLEINER (2003), The Successful Business Plan: Secrets & Strategies, The Planning Shop, ISBN 0966963563 SHARON L FULLEN (2004), Opening a Restaurant Or Other Food Business Starter Kit: How to Prepare a Restaurant Business Plan & Feasibility Study, Atlantic Publishing Company, U.S.A, ISBN 0910627363 Read More