Queensland Vegetarian Restaurant Business Plan Marketing Essay

Queensland Vegetarian Restaurant Business Plan Marketing EssayQueensland Vegetarian Restaurant (QVR) is new caf designed to offer strictly vegetarian meals in a cool, friendly and public security downtown south of California on Azusa Ave, Hacienda Heights. QVR leave behind be serving healthy, fresh, and fairly priced vegetarian meals prepared and sold in the business premises. The business ordain self-complacency itself in the competent staff comprised of fresh talents from colleges and others equipped with the necessary experience with many of them coming with experience from akin oppositions elsewhere.The business get out be registered as Queensland Vegetarian Restaurant. Startup capital is expected to be $ 1 million. The owner intends to raise the capital by securing a bank loan $ 500,000 and top with similar summation from own savings. The bank loan leave alone be payable in 2 course of instructions. The business is expected to generate a net profit of at least 257% by t he end of the third year since operation commenced.1.2 IntroductionRecent campaigns for vegetarianism and its growing bankers acceptance provide an excellent opportunity or QVR. To hold back fair prices while remaining competitive, QVR regular menus give be simple, but creatively prepared with varying ingredients.The foods ordain be obtained from regular locally operational suppliers and if need be regional dealer get out supplement groceries obtained locally but in all a cases quality get wind will determine that the foodstuffs are strictly organically grown and healthy. there will be fine decors with clear counters displaying freshly baked breads, fresh juices, and fine non-caffeinated beverages.2.0 THE EXTERNAL parentage ENVIRONMENT2.1 Market analysisCalifornia is the third largest and the most populous state in the US with over 35 million people. The biggest proportion of the people is aged 18 to 30. Latest studies show that these group of people form greatest proport ion restaurant food consumers. Other studies show growing acceptance of vegetarianism and a bigger concern for organic foods.The physical kettle of fish of the business promises is a human high traffic avenue thus strategic. The surrounding businesses will ensure QVR customer constancy. The immediate neighboring two colleges is a nonher strategic element to the business. This will be another source of comparatively reliable clientele. in that status will be even more opportunities on weekends during sporting activities and other occasional event in the colleges.2.2 CompetitionCompetition is a very recurring element to be assessed in the external environment. All though there are many other restaurants in the identified location of QVR, vegetarian operators are not common. Most restaurants are fast food. The growing demands for organic foods will be great opportunity and strengths to QVR.Furthermore, the demand for sit-down restaurant will put QVR relatively above competition in food industry. The staff will be trained efficiency and effectiveness in customer helping. Our competitive advantage will be laid on quick and quality customer service.To attract customers, the refined dcor, beautiful garden, open shades will conjure customers comfort. The doctrine behind QVRs competitiveness is the fact the best way to market own self is through quality service delivery to the clients.QVRs pricing model will also be its competitive strengths. The checked food and labor costs will ensure that the foods served are fairly and competitively priced. Versatile staff that will be rotated around major workstations will be hired on contractual basis.QVRs will be a smoke-free caf, a indemnity that enhance our corporate strategy to maintain customers.3.0 THE FUNCTIONAL AREAS OF BUSINESS3.1 Running an Ethical and Socially Responsible businessQVR will endeavor to uphold honourable standards in its operations. While adhering to the industry regulations, the business will go a n extra mile to ensure its waste is properly disposed or recycled. Its concern for the environments will be manifested in the fact it is promoting health-eating lifestyles.In the community, the business will play significant role in installing dustbins around town branded with QVR logo. This will serve to market the business while at the same help maintain a litter free city. Occasionally, there will be feed-the-street-family programs. In this activity, QVR will dedicate its resources and distribute free food to the street family and the communities living in ghettos within town.3.2 Entrepreneurship Business FormationTo start with, the Restaurant will be a 35-seat hotel but it is expected to double its capacity within the first off six months of operation. There will be neon signage off the road inviting and tell prospective clients to the inn. The premise which currently being refurbished, is on the ground floor and will be checkered tile on the floors, have booths and open-air shades.There will be alternative access to staircases for people physically challenged. In order for the business to keep its operations cost low, it will at first serve its customers via aver the counter. This will minimize the organizations spending on labor. The over-the-counter service will also be an opportunity for the customer to self-service then no tipping costs.Financial advisors will be engaged to guide the business invest in relevant expansion programs. This will include acquisition of more facility premises and opening of other branches within town.3.3 Managing Human ResourcesQVR will acknowledge the contribution and necessity of its human capital in quality service delivery to customers. Thought formally established at the beginning, the Human resources will ensure that qualified and competent staffs are hired. It will ensure that at no point in time does the business operations are halted to interrupt due to incompetency or lack of staff. Leaving staff will be replac es as soon as possible.The HR will also discipline deviant habits in the staff.3.4 MotivationMotivation will be a tools utilize by the Human Resource department to maximize productivity and creativity in the staff. There will be incentives to hard working and dedicated staff. The incentives will also decoct labor turnover. Since there will be no tipping in the restaurant, cash rewards will be given to outstanding performance in customer service. Employees will be allowed to nominate one of their own whom they consider to have demonstrated unique abilities in the business operations.3.5.0 Marketing3.5.1 The Marketing schemeQVR will initiate marketing programs that will increase its forwarding. At the beginning for the first quarter, advertising costs is estimated at 5-8% of gross revenue. All though radio and mark mediums may not be effective enough, the company will complement its marketing medium with other creative ways. These include sponsored community projects and events wi th much publicity of QVR featured and distribution of menus downtown.Other initiatives will include sale of t-shirts and mugs with QVR logo and images of healthy vegetarian people. There will be signage posters with variety vegetarian dishes along the avenues from both directions towards the location of the business premises.3.5.2 Marketing mixQVRs endeavor to attract customers and win their loyalty will be enhanced by our marketing mix. The business will be promoting healthy eating and this will be our brand identity.Product- QVR logo will be designed to describe the relationship between vegetarianism and health. All the business facilities and forwarding and serving materials will be braded this way.Pricing-As mentioned earlier our optimal operation costs will enable the business offer fairly prices enticing to customers. All our products will be strictly vegetarian. This is one of our key marketing mix elements, which distinguish QVR from other businesses in the industry.Promoti on- There will be vigorous promotional activities including advertisement, gift vouchers to loyal customers, and terrific days with special daily offers. Community services will also be utilized fully to increase QVRs publicity.Place- QVRs strategic location will enable access to the target customers. The place will be accessible both by pedestrians and an ambient and secure parking will be provided free of charge to driving customers.3.6 Accounting and financial projectionThere will be strict accounting procedures that will ensure maximum taxation collection and minimizes expenses. Qualified cashiers and internal auditors will be employed in the business. The projects in this business plan are based on the evaluation of similar business operation in California. A glimpse of projection is as followsWorst-case scenario projection of sales It is expected that an average of 150 customers per day for a year (360 days) with an average of guest check of $ 3.50 bring average annual sales to $ 189,000.Middle Projection averages 200 customers per day for 360 day with an average check in of % 3.50 bring medium projection to $252,000/year in salesAmbitious Projections average 300 customers per day for a year at guest check of $ 3.50 thus projected average sales will be $ 378, 000/year.Inventory Purchases are projected at 40% of sales but will reduce gradually to 30% by the end of the first year.Expenses labor expenses will be determined by the prevailing wages based on the arcminute and tasks performed the employee. Taxation will apply as per government requirements.The business is projecting growth rate of 19-28% in the firsts three years spread as 19%, 23%, and 28% respectively.Below is the average projection sheet for the next 4 years.Sales Estimates projections (in 000)Year2011201220132014$6,0002,1503,8501,0449801,826730.4$1,095.6Sales$1,300$2,000$4, 000Cost of Goods2405001,200Gross sales revenues10601,5002,800Overhead560628880Marketing260400630Earnings before int erest and taxes2404721,290Taxes and interest96188.8516Net Profit$144$283.2$774