Business plan for the Proposed AfroCare Restaurant in Allerton, Essay

Business plan for the Proposed AfroCare Restaurant in Allerton, Liverpool - Essay Example The researcher states that the name of the proposed Afro-Caribbean Restaurant shall be AfroCare Restaurant. It will be based in the Allerton borough approximately 4.8 kilometres from the city centre of Liverpool. AfroCare Restaurant will specialize in the preparation of Afro-Caribbean dishes including breakfast, lunch and dinner. Ideally, this business envisions a large market with mixed customer base incorporating mainly the British Afro-Caribbean community residing in the suburbs of Liverpool and its environs including the Hunt Cross and Calderstones Park. On the other hand AfroCare Restaurant will also incorporate a wide range of fast foods and customized drinks at affordable prices suitable for the vast majority of college students living around Allerton. While the business is set to roll out by the end of this year 2012, it looks forward to capture a market share of about 60% by the close of Year 1. The projection is based on the fact that there are no restaurants in Allerton wh ich have specialized in Afro-Caribbean dishes. However, it is prominently argued that the few that prepare Afro-Caribbean foods have recorded remarkable increase in customers and thus an improved attributable revenue performance. In terms of capacity, AfroCare Restaurant will be established in a spacious facility along the Allerton Road with an optimal sitting capacity of 200 heads. At full occupancy, the restaurant projects sales revenue of about  £9,000 per day. ?9,000 per day. This translates to an AfroCare annual return of ?3.24 million. If the business therefore realizes at least 60% customer base, it will manage an annual revenue performance of ?1,944,000 at the end of Year 1. To that end, the proponent of this venture has set aside a starting capital of ?300,000 with an estimated reinvestment rate of 10% on the cost of capital (Taylor and Brown, 2003). Thus, AfroCare Restaurant envisions the attainment of a full capacity by the second quarter of Year 2. The business and its Management Proper management is one of the core elements of every business especially when competition as a factor to consider. Guided by a realistic vision and SMART objective, the management of any enterprise defines the overall stricter and operational dynamics of the business as reiterated by (Toren and Adam, 2011). AfroCare Restaurant will basically be a sole proprietorship company with limited liability. As such, the manger will reserve exclusive authority of the operations of the business while taking into account the possibility of outsourced expertise in Food and Beverage Management in line with common practice in the modern world (Boone and Kurtz, D. (2010). With that in mind, AfroCare Restaurant endeavours to set an exceptional and unmatched standard in the provision of Afro-Caribbean dishes beyond the expectations of our customers. Therefore, its operations and service delivery shall always be inclined toward achieving the following vision and objectives. Vision Primari ly, a vision refers to the main goal that an organization seeks to achieve over a predetermined period of time. Whereas the vision governs the operational efforts of an enterprise, it keeps the business in focus at all times as postulated by (Liebig, 1994; Walters, 2011) The vision of AfroCare Restaurant is to be the best service provider of Afro-Caribbean foods across Liverpool and beyond. Mission According to Shane (2003), a mission refers to the basic philosophy on which the daily activities of an organization are

marketing :: essays research papers

1.  Ã‚  Ã‚  Ã‚  Ã‚  The product life cycle is essential when a firm is a managing a product. While a product is in the introductory phase of its life cycle the customer is going through a learning process. Firms must consider this learning process when determining how much to spend on marketing strategies, the firm must understand that it will spend a lot of money to make the customer aware of their product and they wont see a lot of sales. During the growth phase of the life cycle the firm will see fast growth which will lead to profits or they will break even. The firm will also see declining expenditures so to properly manage their product they should concentrate more on building and holding customers rather than focusing on innovators and early adopters. At the beginning of the maturity phase sale will increase but slower because the market becomes saturated so the firm must work harder to maintain customers to keep profits from declining rapidly. Firms should focus on custome r loyalty and try to increase usage by each user. When a product begins to decline a firm could either move the product to a new market in a different country or they could leave the product in the same market but not spend money on marketing the product and focus more on other products they could market. 2.  Ã‚  Ã‚  Ã‚  Ã‚  Attending a sporting event is a service, by attending you are being provided with entertainment which is a form of a service. a. A sporting event is intangible you are receiving the entertainment which cannot be physically touched or compared to another product easily, you must compare the product by comparing to it another experience you had or someone else told you about. A sporting event is inseparable, we can see this by looking at the three aspects of inseparability. First the service providers involvement clearly the service provider is present in that the players are physically playing in front of you. Second the customers are directly involved in the service experience, just take the Detroit vs. Indiana basketball game where players and fans were involved in a fist fight in Detroit. Although this may have been a bad experience for the fans it shows just how involved fans are with sporting event. Third other customers are involved with your experience, like the drunk at the game who is cheering for the other team.

Environmental Scan Paper Essay

The business environment of an organization reveals much about its competitiveness and the possible influences on the success of its strategies. The focus of this paper will be an environmental scan of the internal and external environments of two real-world firms, their competitive advantages and company strategies for creating value and sustaining competitiveness, measurement guidelines for verifying strategic effectiveness and their evaluation. Internal and External Environments Environmental scanning of the internal organizational environment focuses on company culture, employee-employee, manager-employee, and manager-manager, manager-shareholder interactions, in addition to organizational structure, natural resources’ access and brand awareness, among others (Schneider, 1995, p.70). Environmental scanning of the external organizational environment focuses on the analysis of the industry/immediate environment, national, and macro-environments. Analysis of the industry environment appraises the competitive Environmental Scan Paper

Free Printable Homeschool Record Keeping Forms