ASSESSMENT 2
Task 1:
Weaknesses:
Every organization, every startup, or every restaurant, has some weak points and strong points. Similarly, Pesto’s has some weaknesses in it. Some of these weaknesses are:
- Lack of experience: Though the restaurant has well-experienced people, but these people have not functioned in this type of environment before. The owner of the restaurant, Chef Mario, is a very experienced chef, but he does not have experience in owning a restaurant or any business, and so this is a lack of experience. Furthermore, the restaurant manager has only managed traditional staff, and the restaurant Mario plans to open is not a traditional one
- Lack of training: Pesto’s staff is not trained for such a job. In order to wait and carry out their jobs, the employees of Pesto’s need training. The good thing is that the head chef expects this.
- Multiple jobs: One of the employees of Pesto’s is Jane Tully. Jane will be responsible for the finances and the HR department of the restaurant. This can cause chaos and panic in this particular person’s job, as these are two different departments.
- The market: though the restaurant aims to target many segments, the product it delivers is going to be high-end. The targeted segment should be differentiated, as many people might not be able to afford the expensive dishes.
Strengths:
- Capital: As mentioned, the proprietorship is quite experienced and has a lot of experience in a particular industry. Furthermore, they have the financial resources to successfully carry out this business, which becomes a part of the company’s strength.
- The product: The idea of the restaurant is very solid. The product that the restaurant wants to produce in the form of its dishes plays out as its strength. The organic touch to the dishes and the vegan product will be beneficial for the restaurant.
- The employees: The employees, especially the head employees, are quite experienced. More than that, they have a good reputation, and they are very good at their job. For example, the head cooks Tim Smith is a very good one and has experience in such a restaurant so that he will be an asset, a strength.
[Your Name] [Your Title] [Business Name]
[Main Business Address]
ABN: [ABN]
ACN: [ACN]
[Business Name]
Business Plan
Prepared: [Date prepared]
Business Plan Summary
[Your business summary should be no longer than a page and should focus on why your business is going to be successful. Your answers below should briefly summarise your more detailed answers provided throughout the body of this plan.]
The Business
Business details
Products/services: The business is called Pesto’s restaurant. Pesto’s restaurant is going to be a restaurant that will provide healthy food with a great environment. The place will provide customers with an unusual and diverse menu. By providing basic dishes, the restaurant will also provide gluten-free and vegan dishes. All these products will be made through organic and local produce.
Registration details
Business name: Pesto’s Restaurant
Trading name(s): Pesto’s Restaurant
Location(s) registered: Brunswick, Victoria. Business structure: Proprietorship
Domain names:[Registered domain names.]
Licences & permits:
- FSSAI License. …
- Liquor License. …
- Health/Trade License. …
- Eating House License. …
- Fire Safety License. …
- Lift Clearance. …
- Music License. …
- Certificate of Environmental Clearance
Business premises
Business location: The restaurant will be opened in Brunswick in Victoria. The restaurant is medium-sized. The restaurant has a location advantage; since Brunswick is well-known for healthy eating restaurants. The location plays a very vital role in the restaurant.
Buy/lease: The restaurant is purchased by the owner, Chef Mario Vittorio. The restaurant has lease left, which will be a cost of 72000 dollars for the owner for the coming financial year.
Relevant owner experience: the owner of the restaurant is Chef Mario Vittorio. Mario is quite an experienced chef with an experience of over 20 years. Furthermore, Mario has quite a success in his cooking career. He has won several awards in the community. He is also famous for his TV show, etc. All in all, Mario has quite a reputation, which plays into the favor of the restaurant.
The Future Vision statement
The vision statement of Pesto’s is:
“To be successful as a healthy eating restaurant, as well as a vegan and gluten-free restaurant.”
Mission statement
“Your place to eat healthy and according to your choice”
Goals/objectives
The goal of the restaurant is to make the world a better and healthier place to eat. The restaurant provides food made out of organic produce, which is quite healthy. Furthermore, the restaurant wants to be known not only for traditional food but also for provided unorthodox, gluten-free, and vegan food. The restaurant will provide extremely clean and non-greasy food. Pesto’s restaurant aims to achieve financial success through strict financial controls. Pesto also wants to make the environment friendly and wants to look after the team members.
The Finances
The first-year prediction of the sales of the restaurants is to be of $869,000. These sales will be through food and beverages. Since the restaurant has a proprietorship business structure, the money for initial things will be acquired from the proprietors. After predicting the costs and assessing them, it can be determined that the restaurant will have a profit of $23,950.
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Management & ownership Names of owners: Chef Mario Vittorio is the sole owner of the restaurant. Details of management & ownership: The owner of Pesto’s is Chef Mario Vittorio. The head chef or the head cook is Tim Smith, who has quite an experience in the field. The restaurant manager is Flora Simmonds, who is quite experienced but has worked mainly in traditional restaurants. The Finance and HR manager is Jane Tully, who again is well experiences. Experience: Chef Mario Vittoria is quite an experienced individual. He has over 20 years of cooking experience. Moreover, he has won several awards and has also been famous for his TV shows. The experience of other managers and the cook is no less. The individuals have good reputations and have good skills to run the restaurant.
Key personnel Current staff | |||||||||
| Job Title | Name | Skills, qualification, experience | |||||||
| Restaurant Manager | Flora Simmonds | Quite skilled for the job. Experienced in the field of a traditional restaurant. | |||||||
| Finance Manager | Jane Tully | Financial control skills. 7 years of experience. | |||||||
| Head Cook | Tim Smith | Very skilled. Has experience in vegan, vegetarian restaurants. | |||||||
| Kitchen Brigade | |||||||||
| Required staff
| |||||||||
| Job Title | Numbers | Skills required | Date required | ||||||
| Trainer | 2 | Proper waiting skills | |||||||
| Bartender | 1 | Bartending skills | |||||||
Recruitment options
There will be ads in newspapers for the recruitment of the required staff. Since the reputation is good, Chef Mario Vittorio will be able to gather the required personnel.
Training programs
The owner knows that it is essential for the restaurant to have the proper staff to serve food and drinks, and so he knows he’d have to get them coaching/training. The training will take place before the restaurant is opened, so things are smooth.
Products/services
| Product/Service | Description |
| Vegan food | Food for the vegan, vegetarian people. Also, for those who are on a diet. |
| Gluten-free food | Food for those who have the allergy and also for people pursuing a healthy diet plan |
| Healthy food | Food produced from organic products for everyone. |
Market position: The products of the restaurant will be towards higher-end as they will be produced from fresh produce, which is more expensive in comparison to the processed food. The market position is nothing as of now since the restaurant is yet to launch. However, the position will be strong as there is diversity, and the reputation of the people is quite good.
Unique selling position: Since the products are being produced from organic ingredients, they will stand out. They will attract every age and gender. The will attract fitness freaks, parents, vegans, etc. The restaurant is providing non-greasy food in a clean environment.
Pricing strategy: The pricing strategy will be value-based. Since the restaurant has peculiarities, it adds to its value; therefore, the pricing strategy will be based on the value of the product.
Growth potential: The product is basically food, and people never stop eating. There is a good room for growth for the restaurant as it is working on basic things as well as particular things.
Insurance
Business assets: There is insurance for the premises and for the equipments.
Risk
| Risk
| Likelihood | Impact | Strategy
|
| Restaurant going at a loss | Unlikely | High | The management will change, and the strategies will change |
| Restaurant burnt | Likely | Medium | The place and everything is insured so the place will reopen |
Operations Production process
The production will be done on an everyday basis. The food will be prepared daily through the fresh
and healthy ingredients.
Suppliers
The suppliers will be from the local market as the restaurant doesn’t plan to acquire ingredients from other markets.
Technology (Software): [What technology do you require? For example, website, point of sale software, or accounting package? What will be the main purpose of each? Will they be off-the-shelf or purpose-built? What is the estimated cost of each technology solution?]
Trading hours: The restaurant will work round the clock from 12 pm noon to 12 am-noon. The peak time of the restaurant will be from 2 pm to 10 pm.
Communication channels: The communication channel will be through newspapers and billboards. Since the chef’s reputation is good, he will be able to communicate this restaurant through his TV shows.
Payment types accepted: The restaurant will accept cash payments and payments through credit cards.
Warranties & refunds: There will be an exchange policy if the quantity of the product/food is not good.
Quality control: The food, ingredient, work environment, kitchen, fridges, etc. Everything will be checked on a daily basis by an employee for this particular check. The employee will keep quality control of the premises. The quality control of food will be done through the feedback of the customers, verbal and written.
The Market
Market targets
The restaurant aims to target the general environment. It also targets people from 18 to 35, which are ethnic groups and millennials. Furthermore, Pestos also targets parents, vegans, and those who have a gluten allergy. The reason to target such different groups is the product of the restaurant. The restaurant will mainly be delivering to these groups.
Environmental/industry analysis
The environment of the restaurant will be welcoming for it as it is already popular for healthy eating restaurants, which this restaurant is. Thus, the owner has done proper research that this environment will be beneficial for the restaurant,
Customers
Customer demographics
The restaurant’s target customers are many groups, as the restaurant provides food that is not specific. The first group is of millennials as they eat everything and like to stay fit. Then the ethnicities are going to customers. Furthermore, health and fitness freaks will be customers. The vegans will be customers. The health-conscious people like old people will be customers.
Key customers
The key customers of the restaurant will be health-conscious people. This will also include the vegans and gluten allergic people.
Customer management
The customers are very vital for restaurants. Thus the restaurant will have a good relation with them. The customers will be provided with good food. They will be treated nicely. They will be welcomed with a smile. They will be assured that the restaurant will give them good food according to their choices, etc.
| S.W.O.T. analysis [List each of your businesses strengths, weaknesses, opportunities, or threats in the table below and then outline how you plan to address each of the weaknesses/threats.]
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| Advertising & sales Advertising & promotional strategy The promotional strategy will be through media promotion, which is through TV and newspaper ads. | ||||
| Planned promotion /advertising type
| Expected business improvement
| Cost ($) | Target date [Month/Year] | |
| TV show promotion by the owner | This will give the business recognition in the world | 0 | ||
| Newspaper promotion | For the same reason as before | $1000 | ||
The Finances
Key objectives & financial review of financial objectives
The restaurant plans to have a profit after a year. Furthermore, it plans to grow financially and as a tangible entity as well. The restaurant wants to enjoy good profits off of this whole venture.