Cafe TOM-TOM Business Plan for entrepreneurship PDF

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Summary

It was a final project given by the professor and it is business about a restaurant. Practice Material for financial analysis and making decisions. We were also given some other assignments including Entrepreneurship....

Description

Team Meeting Minutes

Program/Area:

Open a café and restaurant

Meeting Purpose:

Review the draft of ToMToM business plan.

Meeting Date:

24/07/2019

Meeting Time:

9.39 - 15.00

Meeting Location:

ECA Brisbane centre_room

Meeting Facilitator:

Kartikeya Singh Chouhan (Kris Chouhan)

Attendees:

Vikas Nepal Thi Le Binh Nguyen Ausmita Bhandari

Minutes Issued By:

Thi Le Binh Nguyen

Next Steps:

Owner

Due Date

Rebuild the new financial plan based on the new investments Further development of advertising strategy, PESTEL analysis.

Binh Vikas

Decisions Made:

1.

Change the location of the restaurant

It has been finalise that the street 8 shop has been changed and the new location will be Shop no. 5 behind 8 Street and right in front of Coles. It’s visible to more customers.

2.

Change the investment capital

Capital:

300,000

Equity Ausmita: 90,000 Equity Binh : 90,000 Equity Vikas : 120,000 Investors raise their investments in order to finance the new location, additional marketing strategies and other changes in further feasibility research.

3. Change the Advertising & promotional strategy

Decisions Made:



Advertisement on Newspaper and Boucher



Internet and App development

Additional advertising and promotional strategy could lead to more customers and bring the restaurant closer to customers more quickly. Discussion: Business:  The owners agreed with the organization structure, the operation, insurance and the risk managements 

It’s visible to more customers. It has been finalized that the street 8 shop has been changed and the new location will be Shop no. 5 behind 8 Street and right in front of Coles.

The Market  All members agreed on the market targets and market analyzing. 

There should be additional market strategy on promotions restaurants:



Advertisement on Newspaper and Boucher



Internet and App development

The Future The vision and mission are approved by all the members of the owners. Financial All Investors agree to raise their investments in order to finance the new location, additional marketing strategies and other changes in further feasibility research. Capital:

Equity Austamia:

300,000

90,000

Equity Binh Equity Vikas

: :

90,000 120,000

PARKING LOT: There will be further research on changes made up on the original plan will

Decisions Made:

be discussed on the next meeting, including: 1. Other financial objectives which relates to investment capital 2. The marketing strategy

Final Project’s Terms of Reference

Tom Tom Restaurant Business Plan

Table of Contents Business Plan Summary.....................................................................................................................8

1.

The Business..................................................................................................................................8

2.

The Market....................................................................................................................................8 Market research.............................................................................................................................8 Market targets...............................................................................................................................8 Environmental/industry analysis....................................................................................................8 Our customers...............................................................................................................................8 2.1 Target market:..............................................................................................................................8 2.2 Marketing strategy:......................................................................................................................8

3.

The Future.....................................................................................................................................8 3.1 Vision statement:.........................................................................................................................8 3.2 Goals/objectives:.........................................................................................................................8

4.

The Finances..................................................................................................................................9 4.1 Key objectives & financial review.................................................................................................9 4.2 Finance required..........................................................................................................................9

5.

The Business................................................................................................................................10 5.1 Business details..........................................................................................................................10 5.2 Registration details....................................................................................................................10 5.3 Business premises......................................................................................................................10 5.4 Organisation chart.....................................................................................................................11

6.

Management & ownership..........................................................................................................12 6.1 Names of owners:......................................................................................................................12 6.2 Details of management & ownership:.......................................................................................12 6.3 Key personnel............................................................................................................................12 6.3.1 Current staf........................................................................................................................12 6.3.2 Required staf......................................................................................................................12 6.3.3 Recruitment options...........................................................................................................12

7.

Products/services........................................................................................................................13 7.1 Market position.........................................................................................................................13 7.2 Unique selling position..............................................................................................................13 7.3 Anticipated demand..................................................................................................................13 7.4 Pricing strategy..........................................................................................................................13 7.5 Value to customer......................................................................................................................13

8.

Insurance.....................................................................................................................................13

9.

Risk management........................................................................................................................14

10.

Legal considerations................................................................................................................14

10.1 Workplace Health and Safety...................................................................................................14

11.

Operations...............................................................................................................................15

11.1 Production process..................................................................................................................15 11.2 Purchasing and Supply.............................................................................................................15 11.3 Plant and Equipment Requirements........................................................................................15 Listing of plant and equipment....................................................................................................16 12.

Sustainability plan....................................................................................................................16

12.2 Community impact & engagement:.........................................................................................16 13.

Action plan...............................................................................................................................16

14.

SWOT Analysis.........................................................................................................................17

15.

Our competitors.......................................................................................................................17

15.1 Competitor details...................................................................................................................17 16.

Advertising & promotional strategy.........................................................................................18

16.1 Sales & marketing objectives...................................................................................................18 16.2 Sales & distribution channels...................................................................................................18 17.

The Future...............................................................................................................................18

17.1 Vision statement......................................................................................................................18 17.2 Mission statement...................................................................................................................18 Goals/objectives..........................................................................................................................18

Business Plan Summary 1. The Business The TomTom is a full-service café and restaurant located in Garden City Brisbane established in January 2020. It was first located in Shop Street 8 but the owners of the café Vikas, Binh and Austmita entered into negotiations and decided to change the location of the café from Street 8 to shop no. 5 behind street 8 and right in front of Coles. The business is ideal location for a café in front of Coles; it would be visible to more customers. The customers of the TomTom are the corporate housing Employees and the locals living around the garden city. The TomTom will be owned by the three partners Vikas Nepal, Ausmita Bhandari and Thi le Binh Nguyen. They have 3 years’ experience in hospitality management. This plan ofers financial institutions an opportunity to review our vision and strategic focus. It also provides a step by step plan for the business start-up, establishing favourable sales numbers , gross margin, and profitability. The plan includes chapters on the company, products and services, market focus, action plans and forecast, management team and financial plans. Company Summary the company will operate in shop 5 located in front of Coles. The owners have secured this location through rent. as the café location is decided to change so, with changing the location of the café the owners have also decide to raise the amount. The required funds has been raised to 300,000 from 250,000.They have also provided 300,000 of the required start-up funds. The remaining capital will be obtained through loan from Barclays bank of Kenya commercial loans. The company is expected to grow its sales from

2. The Market Market targets The Café Tom Tom will appeal to urban professional and locals living around the garden city. The café will also meet an under-served need for a pedestrian-frienfdly dinning and cofee house for the vaious residents in the area, particularly new people to the immediate area. Member of this market segment dine out frqurntly, approximately three time or more per week.the market segment is largely madup of singles between the ages of 25 and 40 as we are targeting the corporate housing employees. The married couple in the same age bracket, tourists and professionals. Environmental/industry analysis The café and the resturaunt that make up community of establishments in the area surrounding the café TomTom are quite diversed. Theeir concepts range from typical fast food chain to expensive fine dinning establishmets. However, the predominating nature of the immediately surrounding resturaints and cafes is casual.

7.1 Market position Our market position will be for the competitive and budget. 7.2 Unique selling position The uniqueness in the service we provide will make our products and services sellable. 7.3 Anticipated demand Since our product and services will be of high standards, the anticipation of the repeated customer is high. Normally, a customer will visit repeatedly 3 to 4 times a week. 7.4 Pricing strategy We propose to ofer high quality food and service at a price comparative to our major competitors – we will meet the market on price to retain market share if we need to. Our clientele have a medium to high disposable income and seek high quality products and good service; pricing will reflect the value of our products and services. 7.5 Value to customer [How do your customers view your products/services? Are they a necessity, luxury or something in between?] 

Growth potential:



To achieve increase of 20% sales for the each year.



To achieve estimated 40% market share in next 12 months.



To position the business as a convenient place to eat light and healthy meals

3. Insurance Insurance are divided into diferent categories and they will be arranged upon execution of the contract.    

Business Package Indemnity Insurance Key Person Insurance Workers Compensation The business package will include public liability, fire, theft, burglary and business interruption insurance. The above is based on quotes obtained from our Insurance Broker. Insurances will be finalised once the contract has been signed.

Impact

Fire – loss of

M

H

Priority

Risk Description

Likelihood

4. Risk management

Preventative Action

Contingency Plans

H

Smoke cautions, sprinkler

Immediate acces to individual

property/life

frameworks, fire dousers will be installed and checked regularly.staf will be trained for emergency fire systems including the clearing plans. To ensure protections including fire, open obligations and business intrusion are satisfactory and in place.

resoyrces to remake shop and business rapidly while sitting tight for protection installents.

Change in Providers terms

M

M

H

Maintain great associations with providers and keep up acces to individuals cash funds.

Use elective providers or increment working capital(from individuals to cash funds

Food poisoning

L

VH

H

Develop quality items, right stockpiling of sustenance stufs,train staf in cleanliness standards as a major aspect of quality control process

Develop a grumbling taking care of procedures and examine well spring of food contamination and remediate.

Provider Incapable to to supply products Significant disputes with Owners

L

M

M

Alternate elective providers will be arranged, access substitute products

Purchse from elective providers or use reasonable substitute items.

L

M

H

Ensure formal rent understanding is altogether. Creating and keeping up a sound working associations with the center manager

Connect with legal advisor for exhortation.

Loss of key person

VL

M

M

Take out key individual Until permamnet staf can do protection,impact information and job Short term contracts will expertise move to other staf be called for resonaable substitution. Call up insurance policy.

5. Legal considerations 10.1 Workplace Health and Safety The workplace wellneing and secyrity plan depends on the cousel and direction given by the workplace Health and safety Queensland.

6. Operations 11.1 Production process Our major processes are sales, food and beverage preparation, table service and stock control (ordering, storing, controlling). Major processes are flow-charted in the café’s Procedures Manual. A copy of this is appended to the business plan. The processing of Point of Sale (POS) transactions is electronic, with transactions being automatically posted into the accounting system (which incorporates a stock control system). The table below represents the current and the planned level of operation and the standard of these operations.

11.2 Purchasing and Supply Brendan has contacted all existing suppliers and has negotiated supply arrangements on very attractive terms. At this point there are no written contracts although three suppliers have indicated that they are currently preparing contracts for execution. Where suppliers do not provide formal contracts we will be requesting an exchange of letters to confirm the basic arrangements. In most instances local alternative suppliers exist. Where local alternative suppliers do not exist, we have identified alternative suppliers from nearby regions who have the capacity to meet the café’s needs in a timely manner at a reasonable cost. 11.3 Plant and Equipment Requirements In the table below there is listing of the minimum plant and equipment items that are mandatory to efficaciously run the Café. An agenda of the plant and equipment (and their values) confined in the purchase price will be included in the agreement documentation and will be liable to due ingenuity. The price tags of the plant and equipment items listed below is stated in the contract at $60,000. We will undertake routine repairs and plan the substitution of plant and equipment items based on the yearly condition evaluations. Listing of plant and equipment Description of Equipment Item

Plant

/ Number required

7.Quality Sustainability plan cofee maker 3 12.1 Environmental/resource impacts:

Cost and how financed

Ongoing costs Maintenance

Incorporated in the purchase price.

Under warranty

and

There will be very less impact in the environment. As we discourage guest to not to use pla...