Business plan- Stack CITY Burgerss PDF

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BUSINESS STUDIES YEAR 11...

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STACK CITY BURGERS

Ghada Elsair

Business plan

Tables of contents Executive Summary, Business ownership.................................................Page 1.

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Vision , Business mission/objectives, Business guidance & success ……………………………….2 Situational Analysis…………………………………………………………... Swot analysis, Laws and regulations………………………………………………….3 Pestel analysis and competitive rivalry………………………….4 Marketing research……………………………………………... Competitors, Primary data, Secondary data, Target market……………………..5 Marketing strategies………………………………………………………6 Financial Plan……………………………………………………... Sources of finance, Start up cost , forecast, Cash budget, Balance sheet, statement…………………………7 Human resource management……………………………...8 Management approach………………………………………………...9 Staff requirements, qualifications, skills & knowledge……………………………………..10 Future prospects ……………………………………………. Expectation for the future, Expanding nationally/internationally…………………………………..11 Appendix…………………………………………..12 Bibliography ………………………………………..13 Digital pitch…………………………………….14

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Executive Summary The Stack City Burger restaurant plan will briefly approach a savourious burger restaurant within the city of Sydney, Australia. Outlining potential business objectives, as well as a comprehensive mission, vision and goals. The plan will also explore distinct and mouth watering burger combos and beverages with effective and efficient services. In addition, a comprehensive market analysis that uses effective analytical tools such as SWOT, PESTEL and competitive rivalry will be used as it allows conceptual marketing strategy, and demonstrates an organizational management plan. BUSINESS DESCRIPTION AND OWNERSHIP SCB’s will provide customers with the best, affordable burgers, smoothies, shakes and meal combos in town. SCB only aims to offer fast- food selections that are unique and freshly made by the finest ingredients. The different range of burger flavors and additional selections are tremendous, promising to the wonderful aroma and undeniable flavour in store. The entire establishment will be owned and functioned by Miss Ghada Elsair. There will be various burger selections to choose from and a variety of meal combos that everyone will enjoy. Services rendered will include catering, customer service, takeaways and delivery. BUSINESS NAME Stacks city burgers (SCB) PRIME FUNCTION SCB aspires to give Sydney residents high-quality products and a diverse menu in order to earn client loyalty, as well as favourable PR and media attention. A menu which will consist of a variety of burger choices, from chicken burgers to beef patties that will allow customers to pick and choose from and never get tired of. SCB will operate 7 days a week as an equipped restaurant, providing efficient service. LOCATION Positioned near the city harbourside, SCB will be located within the harbourside shopping centre at the heart of circular quay. This location has established a densely populated and highly congested foot traffic. Address: 2/10 Darling Dr, Sydney NSW 2000, Australia

LEGAL STRUCTURE Business structure refers to the legal framework used to create and define business organization and ownership. At SCB we plan to establish a business structure that is transparent and simple. SCBs legal structure will be of a sole trader, referring to an individual who runs a business on their own. SCBs will be entirely owned and run by Ghada Elsair and will be registered as a public ownership in Australia. BUSINESS VISION, MISSION, OBJECTIVES & GOALS VISION SCB’s visions is to achieve a 21% increase of existing revenue in a period of three years and overtime become a well known restaurant that holds strong customer relationships. Our vision statement will emphasize excellence and bring the best into the industry. “To provide customers with the best promising burgers and beverages with the quickest service”. Allowing our business to focus on quality and customers over the long term, leading us to creating a sense of purpose and direction for the business. MISSION SCBs aims to deliver delicate and delicious burgers while establishing a strong brand. This will be achieved by providing reasonable prices that include high-quality ingredients, served quickly within a clean surrounding. The mission statement will state ‘To provide fresh, delicious burgers produced from the highest quality ingredients at reasonable prices’. We also will combine menu varieties, atmosphere and friendly staff to create a sense of “place”, to reach our KPI goals’. OBJECTIVES & GOALS Short Term Objectives are: 1. Ensuring enough sales and marketing priorities are managed accordinglyImproving and optimizing is key to maintaining the foundation of market structure. Effective methods of advertisement will ensure that the presence of sales and profits is transmitted to the business. 2. Listening to customers- It is critical to consider customer comments, suggestions and feedback. So taking into consideration they will be considered in terms of how they would like to be served. 3. Keeping staff interested and motivated- By maintaining experienced and talented staff, the business will make its way to achieving a milestone of rigor continuity and offer a sense of consistency of production. By also offering promotions and incentives it will continue to keep the staff motivated. Long term objectives 1. Repaying any outstanding debts- Money borrowed from banks and financial organisations should be repaid on time. By the growth stage, it should be able to compute accrued profits.

2. Business growth internationally- Having the opportunity to diversify internationally would allow more venues for customers from around the world. There would also be greater profit margins and tendencies. 3. Innovation goals- launching new burger combos would attract more customers .It could be accomplished by the quality of food preparations, packaging processes and techniques, that will boost the business overall.

SWOT ANALYSIS Strengths ● Location- fantastic destination with easy access and great foot traffic ● Creativity- new techniques, styles and ideas ● Quality staff & managementtrained and dedicated staff that meet all KPIs

Weaknesses ● Limited seating- seating may be limited, reducing the profit that could be made. ● Loud/ Packed environment- Busy store, may get crowded and loud for families ● Young company - Has not strong reputation

Opportunities ● Growing customer basegrowing segment with the influx of new prospective customers ● Developing relationshipsfinding strategies to build on customers and growth ● Display/packing-improvement of packing styles and labels

Threats ● Customer satisfaction- a drop in customer satisfaction can lead to long-term viability. ● Competitive markets- Other restaurants offering similar products/ services ● The cost of expenses- Operating expenses may rise, adding to prospective threats

Strengths SCBs has various strengths that contribute to making it a strong business. These strengths include a high quality staff & management team who have been trained and have great experience in food preparations providing the best quality dishes. Other strengths include, Creativity; which is what makes up SCBs is it's unique style, techniques and ideas that make our burgers, right from the various range of burger selections, ingredients and product names to social media and advertising. Furthemore, SCB strengths also come from it's perfect shopping centre location, with heavy foot traffic and a populated area. Weaknesses Despite the businesses strengths also comes weaknesses. A major weakness is the limited amount of space and seating areas for customers. Since the restaurant will be placed within a huge shopping centre, there is very limited space and opportunities for the business to expand, as there are surrounding businesses. For example the space of the kitchen compared to an average size restaurant is 3.25 meters smaller, which could potentially reduce the profit generated overall. We plan to overcome all our weaknesses by increasing marketing strategies within the business, such as advertising, in order to gain more customers and maintain a strong position.

Opportunities SCB’s has potential to expand into a popular restaurant overtime allowing it to have an increased number of customers coming to dine in. SCB also has the opportunity to increase the product mix as well as building a product packaging that attracts a greater customer base. Further opportunities include developing relationships in the long run with other companies to establish market development and greater business capital, which will help increase sales. In addition, SCBs has the opportunity to increase service quality as a way of differentiating its business from competitors like Rashays and surrounding restaurants. Threats With a very competitive fast food industry and already established restaurants who serve intercontinental meals, there are potentially many threats to this business. The cost of expenses within the business can rise suddenly, bringing a major threat as it is in the establishment stage of the business life cycle. To maintain this, SCBs will solely narrow our focus on training employees to gain the experience and skills. Other threats include a drop in customer satisfaction, customers tend to get bored of similar products and want to see new styles and ideas brought to businesses. So this can be improved through diversifying into new packings and displays to promote newer and cooler products. LEGISLATION AND REGULATION The following legislation & regulations directly affect ‘Stack City Burgers’: → Laws 1. Labour laws- As additional labour regulations are passed, the workplace's requirements are raised. This law affects SCBs as it imposes additional costs to the business to spend on training, recruitment and wages/salaries. 2. Consumer Rights Act-. The business must comply with all rules when selling products to customers. Having a positive impact as stack city will provide a range of quality products with a high standard customer service. → Regulations 1. Environment protection- Environmental regulations often reduce employment and productivity. In particular pollution that may be generated from cooking as well energy sectors. Therefore, stack city will have strategies that maintain an efficient work environment. 2. Taxation policy- Taxation laws tend to have significant impacts on small businesses as they are determined by how much money is earned by the business, making it a challenge if sales are low. This is because the Australia law takes up to 30% of personal income earned.

PESTEL ANALYSIS

Political

The fast-food industry is rapidly becoming labile due to political prospects, accelerated growth and increased challenges caused by globalization (Pan, & Zhan, 2018). As a result, the first step for SCB Business Plan will be to build a crucial fast-food restaurant which guarantees to pay taxes to the government.

Economic

Fast food restaurants can benefit from the monetary rigours of countries. Consumers' excess cash, the amount of monetary scale, the cost of keeping customers and labourer salaries are all financial elements that will impact. To manage these risks, means to maintain good management of human resources

Social

SCB aims to satisfy customers' tastes in regards to their requirements, as well as wishes. This sector is enormous since clients consist of distinct flavours. It's essential that SCB ensures to produce promising food selections that really can accomplish a satisfied customer cultural base.

Technological

Businesses' most important motion is to introduce technological advances owing to growing market difficulties. SCB will carry out technological advances such as upgrading stoves and pans to assist the transition of the business and provide customer freedom of food selections.

Environmental

The environment appears to be adequate, and nothing appears to pose any problems in the setting in which the firm will be established. SCBs position is the main variable in its long-term success and achievement, as it is located in an accessible area and complies with the environmental regulations

Legal

Certain health and safety regulations, as well as corporate standards, are in place to assist fast-food outlets in remaining legal. Furthermore, because the service business has become so diversified, regulatory changes can cause difficulties at nearly every level. For example, Food Act 2003 (NSW)

COMPETITIVE RIVALRY These competitive rivalry will have an effect on SCB if the company does not have a plan to counteract the issues beforehand. These include; There is a significant probability that new entrants may enter this industry in Threat of New Entrants the future, posing a danger to the firm. In order to get a solid foothold in this situation several plans must be brought together, SCBs will aim to only offer affordable burgers. In addition, a menu assortment will help.

Substitutes pose threats

Throughout the fast food sector, the risk of fresh alternative products as well as customers expectations are of high quality and fresh produce. SCbs will ensure that the food safety and hygine is maintained and monitored. Improving the complexity of food consumption and assessing fresh dishes overtime would be a desirable competitive advantage.

Buyers' Bargaining Power

The majority of customers will be younger, the restaurant's framework will be considered correctly, which attracts many customers from various different age groups. Strategies to maintain this, will consist of minuscule costs as well as a variety of selections, in which SCBs will follow.

Bargaining Power of Suppliers

Suppliers ' bargaining strength may be mildly strong, often when the overall supply begins to decline. By comparison, the bargaining power is to be minimal if there is an extensive supply for further raw materials.

MARKET RESEARCH Competitors Our competitors are Rashays located a few metres away, which is a fast food chain that sells very similar items and has established a wide customer base, also selling a variety of meal alternatives that attract customers. Additionally, nearby is hard rock cafe, an exquisite large and established restaurant, that provides customers with high and quality services that attracts a great deal of customers. Hard Rock cafe offers customers a variety of desserts, meal combos, beverages, salads and sandwiches and special entrees. Both restaurants have high potential in having effects on our customer growth. The restaurant's strengths is that it has developed an effective location within the market. They tend to provide customers with great food and services by skilled and experienced chefs and staff. However their weaknesses are that they have limited seating, making it difficult for customers to sit down and eat with relaxation, as well as high operating costs, where customers don't want to pay too much for meals. We will promise to provide meals at lower prices and focus on customer satisfaction. Primary data The primary research, a conducted survey, has provided a template of what actually needs to be placed into the business and has offered an understanding of customer needs. Through the survey, participants aired their views on the various ranges of dishes that they wanted and expressed what they potentially are looking for in SCBs. Majority of the selected participants happened to be from all different age groups, providing suitable findings and suggestions of food types. The survey was an effective method of collecting data as it allowed the participants to have a say about this plan. Furthermore, through the survey we have been able to vision a business plan that is suitable and realistic. Lastly the given results have provided accurate information for the business to consider and a brief comparison with other competitors, in which to evaluate the viability of the business in the market. Secondary data- (Health conscious) SCBs is committed to maintaining a company culture which breeds continuous improvement.

Our mission is to provide consumers with the highest quality burgers on the market, whilst maintaining the promise to also offer high standard services. Our restaurant allows individuals to treat themselves and satisfy their cravings at any time of the day, also considering the dietary intakes of all customers, such as vegetarians/vegan and other specific food requirements. Customers will be made aware of all items offered as part of the marketing plan, which will then be used to promote customer loyalty and recommendations. To sum up, we will be providing each and everyone of our customers with the appropriate and suitable products that meet their needs, in order to fulfill our customer satisfaction. Target market The specific market is younger customers who are often the ones who gain the image of ‘trendy’ and tend to be influenced by purchasing decisions of famous celebrities, rather than family and friends. It can be evident through, “18-25 year-olds are twice as likely to take advice from social media influencers than friends or family- (new survey from design agency, 383)”. Younger customers are more likely to visit a restaurant with friends rather than an old married couple. We believe it is important to consider that many customers may come from different backgrounds, beliefs and cultures, making it extremely important for us to manage and communicate with all customers in a fair and appropriate manner. For example, vegetarians do not eat any type of meat, we have introduced a vegerteriantain burger. Information such as this is essential for the business, as it helps us to track the needs and expectations that meet satisfaction MARKETING STRATEGIES Product SCBs intends to sell a variety of fast food selections such as burgers, loaded fries, smoothies, shakes and meal combos at competitive prices. Stack city will anticipate to provide a broad range of alternative options to customers, to satfisate their needs and wants.

Price

Stack City will ensure that there is a broad variety of marketing methods, such value pricing, & fixed exchange rates. This primary approach will try to provide customers with meals at a competitive value-driven cost. However, prices will differ depending on food selections.

Place

The location serves as a point of reference for allocation. Stack city will be located in a convenient area within a busy and crowded shopping centre, where many people come to shop and eat out.

Promotion

SCBs promotional strategies will be among the most noteworthy product placement techniques. The Internet, newspapers and tv advertisements, all must be used appropriately to encourage the restaurant. In addition to this, special offer gift cards for certain items can also be used as a promotional tool.

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Stack city will hire staff, taking on the following roles: chef, kitchen manager, delivery staff, on the floor staff, front line employees and managerial staff.

Sources of Finance Our startup funds will be raised through the following; ● ● ● -

Generate start – up capital from personal savings Source for soft loans from family members and friends Overdrafts Our sources of finance will come from bank overdrafts. Overdrafts are a good source for short term finances and will help with solving problems that may occur within the business. Overdrafts limit the effects of external cash flow interruptions, which may be costly for SCB. If a customer's income is late every year, for example, the overdraft will cover all expenditures and enable a smooth and quick start-up.

Start up/ operating costFirst and foremost, many factors in modern Australia will decide the amount SCB will need to successfully launch. Factors may include competitive advantage, the size of our busi...