New Introduction in Brighton City - Business Plan Example

A New Business Introduction In Brighton City Tutor’s name: Takura Muusha Module code: FC010 Student Numbers: 15800045 15800135 15800164 ………………15800072 Table of Contents Table of Contents 2 1. Introduction This report will look into what it takes for a new enterprise to enter Brighton city. It is good to note that this business being a fast food restaurant will enter into an existing market in the metropolitan. The main objective of this report is to discuss about the plan of the business, its competitive advantage (s) over its competitors and how the enterprise will create value for its image and product. The restaurant which will soon start operating in Brighton city as a fast food restaurant will have a different name compared to other fast food joints in UK. Hardees, which is a chain of fast food restaurants is known worldwide for its strong brand name. The new business venture will open up as franchise. This is a permit which a franchisee obtains to be able to get business’ restrictive information, courses of action and trademarks taking into account the end results to enable the get-together offer some item or allow running under the business’ name. Normally the franchisee’ in return pays the franchisor start-up and yearly permit charges for using the establishment. 2.0. Background Information Hardees which is an American restaurant has opened branches worldwide in various countries like in the Middle East, Pakistan and Kazakhstan. It is famous brand with a global total of 2142 branches. The restaurant has been able to maintain its good name as well as its customers even though it appears under a different name in the United States of America (Carl’s Jr). The restaurant’s menu offers a wide variety of mostly charbroiled burgers but also has a specialization in other foods which include desserts, shakes, wraps and sandwiches. In addition to that, the restaurant has a wide variety of all day meal deals for Breakfast, Lunch and Dinner at affordable prices. (Hardees.com, 2014) 3. Business Plan To be able to start-up well and run a business smoothly it is important to prepare a business plan. This is a format of work which describes the business nature as well as shows the business objectives and goals to be achieved in the end including the various departments and the start-up budget required. This report will take account of the organizational structure, objectives, marketing strategy and SWOT analysis for the new franchise, Hardees 3.1. Components of a Business Plan In order to make a business plan and be able to start a business capital is an essential component. Being a franchise, more capital will be required so as to purchase the renowned brand name thus a partnership of four people specializing in different departments will contribute. The large contributions will ease the business start-up as well as help at the initial stage before the business establishes and makes profits to support itself. The aim of the business will also have a role in the business start-up which would be the mission statement; “Hardees offer distinct, crave, able fare prepared with premium quality ingredients that meet our exacting standards. Our attention to operational excellence, guest service, and product innovation keep our guests coming back for more”, (Farfan, 2014). Compared to its competitors in existence in UK food outlets like the KFC, Burger King and McDonalds, Hardees plans to create and increase demand for healthier fast foods varieties. In addition, to that Hardees plans to look into other factors that will necessitated the business succeeds like location that favors majority of customer 24/7 and look into the pricing principle that will necessitated a successful business entrance and progression in the fast food restaurants market. 3.2. Organizational Structure The structure of an organization (OG) highlights the chain of command and business control span. It shows how the enterprise is and why the business is was put in place. OG indicates clearly different authority and how they relate to one another, communications chains, rights and duties to make the tasks and job easier for the managers and workers. OG also determines how workers’ responsibilities, roles are assigned and powers are placed and information and tasks flow within different levels of the structure. In Hardees restaurant, the current management taking up the firm will distribute amongst them the different managerial position. These include the human resources, management, finance, and accounting departments. Following the demand for different sections within the business, managerial deployment will consider wide specialty and the capacity of individuals to execute various tasks rather than being departmental expert focused. Franchisor will be onboard to train the personnel management. Hence, though the restaurant will have low rate salaries, it will improve its turnovers, subsequently increasing profits. 3.3. SWOT Analysis According to Investopedia (2009), SWOT analysis is analytical tool that helps evaluate the strength, weaknesses, opportunies and foreseen threat in an organization. In summary, SWOT, is like a mirror in any organization that helps the organization realize what it is worthy of doing or not as per a moment. It also helps the organization realize its threats and chances (opportunities) available to maximize its potentials. SWOT analysis puts in black and white basically gathers environmental information analysis and divides it into external (threats and opportunities) issues and internal (weaknesses and strength) issues. Upon completing its SWOT analysis, this model helps the firm meet its goals and highlights foreseen challenges that should be minimized or overcome to get the results desired. 3.3.1. Strengths Hardees’s boasts of its practice of using franchise which will execute most of the activities. Therefore, compared to its competitors it has the capability of preparing healthier varieties of fast foods. Since the brand is well known and has its authentic intact globally as it has 2142 branches guarantees Hardees fast service a fact which also the number of employee currently in place of 150,000 supports. Hardees, however, has no any outlet in UK, being there for the first time is a signal of success in its future operations (Hardees.com, 2014). 3.3.2. Weaknesses With increasing healthy concern, the fact that most fast foods outlets are unhygienic means Hardeess may suffer from this being a new outlet. In addition, Hardees foresee a lot of barrier to entry. This is because unlike other fast food outlets like McDolnald, Hardees has small market share. 3.3.3. Opportunities Hardees can benefit from mass promotion. This can be done through social media, radios, and televisions. Sponsoring local foot ball team is a substantial opportunity for the business to create its existence awareness in UK. This enterprise can make use of other chances such as bringing in vegan and vegetarian menu, a fact which will increase its competitive advantage, increase customer base and subsequently its market share as compared to its competitors. 3.3.4. Threats Existing fast food chains like McDonald pose a great threat because of their stable market share. Unless Hardees outlet puts into considerations to maximize its opportunities and strength, its growth and survival remains threatened. With increasing life styles diseases rates in UK, Hardees as a fast food restaurant will remain threatened. 4. Competitive advantage Competitive advantage refers to the ability of an organization to have an upper hand in comparison to its competitors. This enables the business to maintain high customer turnovers, increase sales and realize more profits. Hardees, is known for putting matters of healthy forefront in preparing its fast foods. Being a new enterprise in UK that in addition to preparing new vegan and vegetarian menu will improve its competitiveness 5. Value Creation According to (BusinessDictionary.com, 2014) value creation (VC) means that actions that when put in place increase the business service and goods worth. Hardees can build on its VC through creating room for after sales service, giving discounts, free home delivery and giving of voucher during the initial phase to increase customer base. 6. Conclusion Opening Hardees fast food restaurant In UK, by the act of maintaining the known brand name as in other regions will enable it to survive, prosper, make profits and increase its profits during its initial stages of development within the first year. UK is a potential tourist nations (both international and domestic) and most people who are students offer robust growth opportunity for Hardees in addressing their hunger for fast food products. This however, will be feasible if the highlighted points in this report are given priority in focus. 7. References 1. Hardees.com, (2014). Hardee’s® | Locations. Available at: http://www.hardees.com/locations [Accessed March 25, 2015]. 2. Anon, (2014). [online] Available at: http://www.businessdictionary.com/definition/value-creation.html [Accessed March 25, 2015]. 3. Farfan, (2014). Company Mission Statements - Complete List of World’s Largest Retail Missions. [online] About. Available at: http://retailindustry.about.com/od/retailbestpractices/ig/Company-Mission-Statements/Hardee-s-Restaurants-Mission-Statement.htm [Accessed March 25, 2015]. 4. Investopedia, (2009). SWOT Analysis Definition | Investopedia. [online] Available at: http://www.investopedia.com/terms/s/swot.asp [Accessed March 25, 2015]. Read More

 

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