Business Project
The testimonial
Unique Qualities
- Toured around the nation on a volunteer road expedition thus am familiar with the area.
- Spent 6 months working with a company that dealt with IT and designs.
- Raised and taught R&D operations by parents who work in a company that deals with products designs and style.
- Experience in private, public and home educational settings.
Experience
- Worked in a pharmaceutical company.
- Worked with a biotechnology laboratory for two years.
- Volunteered in project management services and online designing industry.
- Involved in creating the new roofing materials present in the market for six months.
Character, Abilities and Skills
- Excellent in communication, able to present articulately and professionally.
- A good leader, partner and works well in a team.
- Persistent and able to create attractive designs that are competitive.
- Well equipped with IT knowledge and great in monitoring activities or formulating solutions.
Compelling Closing Argument
- I have extensive knowledge and experience in real-life activities.
- I care about the organization’s initiative, and ready to fulfil them with integrity.
- I am willing to work under the management and start from the bottom.
- I have a great record of travel accomplishments since I am outgoing.
The Type of Business That Will Be Successful Based On My Background, Experience, Skills and Capabilities
Based on my skills and background, the best business I can venture in and one that I can proudly run is a restaurant or a café. In terms of my background, our family owns a restaurant in town. During holidays, I help them operate the business in both store, kitchen and serving customers. Besides, I help them with ideas and promoting the business through social media platforms where I advertise it and welcome a variety of people to visit. More so, I am good with measuring the profit and loss since I also engage in business accounting activities. The business opens my mind and challenges my skills such that I develop new abilities routinely. Through engaging with clients, my skills in customer service have improved and am well equipped with the knowledge concerning different types of customers and how one should approach them. Besides, I practically take part in routine activities that include cooking, serving and cleaning the place, I can proudly handle business without depending on people to guide me on what the business demands.
In addition, I am capable to distinguish when a restaurant is making loss or profit as well as different when customers are satisfied by services and when they need rectifications. Through constantly advertising the restaurant, I am well equipped with commercial awareness and I have as well advanced in communication skills since I engage with a large group of individuals. Teamwork skills are other abilities I posses since I collaborate with chefs, waiters and cleaners to see that the restaurant is running smoothly and all the operations are timely. Organizational skills, problem-solving skills as well as good interpersonal skills are other skills I have and this makes me confident to open a restaurant and I am sure it will be successful.
A Mini Feasibility Study for My:
Vision
The vision is to be among the best restaurant in the UAE where customers are free to dine with us, we are continually focusing on innovation of new food products, healthy beverages and own or control the menu behind our products. We trust in deep collaboration of our team to continue improving on our products. We will not settle for anything less than perfection while offering services and we will provide a safe environment that will accept corrections and encourage each other throughout routine operations. We are committed to achieve financial independence and achieve business success while positively impacting society through the delivery of services and work performance.
Mission
The mission is to offer customers with reasonably priced quality food, served timely, in an attractive manner with clean surroundings. To also be the greatest cost-effective restaurant business, through a solid authorization system with great individuals, serving the best fresh foods and beverages in the UAE and the globe. Our commitment is to provide best practices concerning our workers, customers, our society and the environment while nurturing the human spirit individually at a time as well as treating everyone with respect and as family.
Objectives
The objectives of running a restaurant include managing client relationships through training staff members on how to engage with clients, provide employees with decent attires and impact skills of problem-solving, kindness and accommodating while practising caution (Pearson, 2019). The other objective is to identify the target market by choosing the right location that is appropriate to the nature of the business. Primarily, the purpose aims at learning the parameters of the target market and considering their needs, tastes and expectations. The other objective is to serve quality and affordable foods that are locally affordable food that is organic thus serve them fresh. Therefore, small farmers will benefit since they will be the major suppliers of the restaurant and organic food promote healthy meals to the community. Lastly, the fourth objective is to focus on ambience and atmosphere that relaxes the minds of customers while dining in the restaurant thus the guests will want to come back to the place.
Relevant Data and Assumptions
The appropriate data involve customer profiling, menu engineering, productivity indexing as well as site selection activities. The possible assumptions include the resources where one assumes that key talents will be available throughout the operations of a business is a dangerous move (Daly and Walsh, 2010). Secondly, the financial assumption is another subject since it takes years to pay off the preliminary investments. customer base is another assumption where business owners believe that customers will accept their products and buy from them. There is also the assumption on management expertise whereby, when founders alone are unable to make enough profit, the frim suffer disappointment. Lastly, profitability is another assumption that every business person makes while venturing into the industry (Mukherjee, 2017).
Market Information
Marketing information is an interacting and a continuous structure of individuals, equipment’s and procedures one needs to gather, analyze, sort and evaluate. Later, it is distributed in an accurate and timely manner to marketing decision-makers and improve the planning, control and implementation strategies. The information consists of price curves for individual products where each food has its price considering the type of ingredients used to prepare and how much the restaurant paid the suppliers (Shepherd, 2011). Besides, there is interest rates and unpredictability which will be studied thoroughly before introducing the food commodities in the market. The information is necessary for gaining insights that generate wise decisions in marketing, provide internal data and competitive intelligence.
SWOT
The strengths of a restaurant include cleanliness and tidy, cheap prices, variety of products, better services, limited funds and new establishments. The weaknesses are similarity in products, provision of new products that are not established and lack of enough funds. Opportunities include offering customers delivery services as well as take-out or providing a drive-through. The threats include competition from similar restaurants in the same area, elevation on food prices, economic factors that include high taxation rates, low minimum wages for workers and customers opting to choose healthier meals (Show, 2020).
Qualitative and Quantitative Analysis
The qualitative analysis involves the use of interviews on consumers regarding the services and products the restaurant engages in (Schaffner et al., 20115). Direct observation and surveys are other helpful ways one can use to determine how the business is running. The quantitative analysis will involve routine monitoring of quantities of food products as well as calculating the financial state of the business, when to purchase additional foodstuffs and when to open up to investors.
Recommendations
The recommendations of operating in a restaurant include initiation greetings the minute diners walk in, use of respectful titles while addressing customers, paying attention and listening carefully, being patient rather than interrupting clients while they are placing their orders. More so, one needs to be familiar with the menu and the type of food present at that particular time.
Types of Risks That Might Affect a Restaurant
The risks that are present while one is running a restaurant involve restaurant failure, liabilities and injuries, earning a bad reputation in the market, food safety problems that might present due to one case of food poisoning. Lack of food storage facilities, poor fire safety measures and poor sanitation in the business or the neighbouring environs (Tran, 2019).
References
AA (Ahsan Ali) Shaw. (2020, March 20). SWOT analysis of a restaurant. Marketing Tutor. https://www.marketingtutor.net/swot-analysis-of-a-restaurant/
Daly, P., & Walsh, J. S. (2010). Drucker’s theory of business and organisations: Challenging business assumptions. Management Decision, 48(4), 500-511. https://doi.org/10.1108/00251741011041319
Mukherjee, B. (2017). #5 common assumptions made about businesses. Entrepreneur. https://www.entrepreneur.com/article/304199
Pearson, D. (2019). Objectives of the restaurant business. Bizfluent. https://bizfluent.com/info-8520810-objectives-restaurant-business.html
SCHAFFNER, D. W., BROWN, L. G., RIPLEY, D., REIMANN, D., KOKTAVY, N., BLADE, H., & NICHOLAS, D. (2015). Quantitative data analysis to determine the best food cooling practices in U.S. Restaurants†. Journal of Food Protection, 78(4), 778-783. https://doi.org/10.4315/0362-028x.jfp-14-252
Shepherd, A. W. (2011). Understanding and using MARKET INFORMATION. Understanding and using MARKET INFORMATION. http://www.fao.org/3/a-x8826e.pdf
Tran, N. T. (2019). Risk Analysis of Material Flow in Restaurant. Risk Analysis of Material Flow in Restaurant. https://pdfs.semanticscholar.org/edfe/e31326c745f926931e59a113dfbad21e2331.pdf