Outline Business Plan (UKGov2019)

The Business Plan

Business and owner details:

The business plan is a group effort where the liked minded peoples are willing to start a new restaurant in
Southbank centre, London

Business name:

The name of the business is “Alleb Steakhouse restaurant”

Owner(s) name:

The business is owned by three partners:

Business address and postcode:

Alleb Steakhouse restaurant , 3, Borough Market

Business email address (expected):

Contact@ AllebSteakhouserestaurant.com
Section one
Executive summary

1.1 Business summary:

The business is mainly focused to deliver best different and unique food products to the meat lovers, the
steakhouse provides the customers to choose their piece of meat through various choices.

1.2 Business aims:

The main aim of the business is to provide best food dishes for meat lovers

1.3 Financial summary:

The estimated profit of the company for the first three yeaes is stated as follows:
Year 1- £ 1154814.00; Year 2- £ 1709887.00 and Year 3- £ 2109439.00

Elevator Pitch

1.4 Your business name:

Alleb Steakhouse

1.5 Strapline:

Taste the best food in the city

1.6 Mission Statement:

The mission of the company will be to provide best food for the meat lovers through fairly priced and enhanced
services to the customers. The core mission is offering quick services to customers, provide quality products at
cheaper price and offering unique combos

1.7 Vision Statement:

The vision of the company is to offer new concept steakhouse with warm atmosphere and enhanced services.
Hence the vision is compiled as is to become the most preferred steakhouse among the students

In this section add photo’s and visual information on your product:

Owner’s background

2.1 Why do you want to run your own business?

The basic purpose of the business is to offer different and unique options to meat lovers in the city, the store will be
the unique and only steakhouse in the city .

2.2 Previous work experience:

The business owners possess graduate in hotel management and was working as part time in steakhouse
restaurants in various parts of the city

2.3 Qualifications and education:

S. No Name of the student Qualification
1 Student 1 Graduate in Hotel management,
Currently doing masters in business
management
2 Student 2 Graduate in commerce, diploma in
front office administration
3 Student 3 Diploma in marketing, posess
unique skill in marketing the
products and services

2.4 Training:

The business owners are currently working in restaurants and are managing the business activities including
marketing, accounting and financial statements of the company.

Details of future training courses you want or need to complete:

The business owners will enable in registering for new online courses related to accounting and marketing in hotel
business, they will register in online programmes like Udemy etc. The student will also learn to understand new
menus from experienced chefs and try to implement in the stores.

2.5 Hobbies and interests:

The hobbies is to cook new meat products, enable in understanding the changing consumer behaviour and
implement new food to the customers

2.7 Additional information:

The management, who are the business owners, will implement theme types in the restaurant this will be altered or
changed based on seasons and festivals, this will attract more customers
Section two
Products and services

3.1 What are you going to sell?

Alleb steakhouse is going to sell which will be in Romanian style and offer best in class meat products to the
customers.

3.2 Describe the basic product/service you are going to sell:

The products which will be available are:
Starters
Breakfast – Breads and Salads
Lunch and Dinner – Burgers, Fries, Sandwich, Salads.
Drinks – Juices and Cold drinks

3.3 Describe the different types of product and service you are going to be selling:
Classic Chicken Cocktail
Sticky BBQ Beef / Pork
Sea Foods
Baked bread with garlic and cheese
Nachos
Green Salads etc.

3.4 If you are not going to sell all your products/services at the start of your business, explain why not and
when you will start selling them:
We cannot sell or offer buffet type services as the place is very small and the business is focused to offer products
based on the preference and choice of meat given by the customers.

3.5 Additional information:

The company will offer best meat food based on the preferences and choice of meat provided by the customers.

Menu
Section three
The market

4.1 Are your customers:

The customers of the business are mainly individuals, however the business is intended to offer party
orders and festival orders to the customers.

4.2 Describe your typical customer:

A typical type of customer are young adults, friends and families and individuals who wanted to stop for a brief
lunch or dinner, interested in meat related products and who can choose their meat for cooking.

4.3 Where are your customers based?

The customers are based around Southbank in the city and tourists who are interested to choose the products
based on their preferences

4.4 What prompts your customers to buy your product/service?

The product line which the company offers and the services related to the offer is one of the key aspects, moreover
the price and product range is one of the key factor to attract the customers.

4.5 What factors help your customers choose which business to buy from?
The customers tend to look for better products, dynamic menus, good taste and affordable price are the key factors
which enables the customers to choose the best place were they can dine out. If the prices are high then the
customers expect better products, best services and more value for money

4.6 Have you sold products/services to customers already?

The company is new and is yet to launch the business in 2020, the management is looking to make some ground
work before launching the business.

4.7 Have you got customers waiting to buy your product/service?

The business has not got any customer waiting to purchase the products as the business is still in process of
launching.

4.8 Additional information:

The steakhouse is a unique business which intends to sell quality meat foods to the customers, the management is
looking to offer best products to the customers, The company is going to be unique in the South Bank and it will be
the only steakhouse in where food is cooked in front of the customer and each and every customer has the
opportunity to chose their own piece of meat from a big display with different choices. Alleb Steakhouse comes with
a new concept which offers warm atmosphere and top notch service.

Market research

5.1 Key findings from desk research:

The key findings are there is a unique market for food lovers, with more than 46,000 students in the South Bank,
nearly 184,000 individuals are working and the market for food is very high. The population is increasing and there
are more visitors coming to South Bank due to its uniqueness and heritage. The food house offers traditional and
standard meals, however there is no major restaurants or food shops available for meeting the changing needs of
the customers, the steakhouse tends to offer the customers an option of choosing the meat which needs to be
served. Hence the market is very high for steakhouse.

5.2 Key findings from field research – customer questionnaires:

Based on the overall findings of the customer questionnaire, the management has noted that the customers are
looking for more dynamic theme style steakhouse which offers best foods to meat lovers, they also look for an
unique manner of cooking, enable them to choose the food before cooking and get a customised foods served to
them at affordable cost. The four critical point which the customers look for are stated as follows:
Fair pricing of the customers
Good services each time the customer visit the stores
Best products and customers are willing to choose the products by themselves
Feel more valued for the money paid

5.3 Key findings from field research – test trading:

Through the test trading, the management has learnt that there is a huge opportunity for steakhouse at the market,
customers are highly satisfied with the services offered and hence there is more opportunity for the products and
services offered by the company. There is a unique market potential for steakhouse and hence the business can
register exponential growth in the future through delivering best prodicts and enhanced customer services.

5.4 Additional information:

Las Iguanas is also located in the same location but my restaurant will be unique as my focus is to attract
customers who has knowledge about steak, who love steak and wine. All the table will be unique with a space
where chef will have space to cook the meat in front of the customers. All the customer will have freedom to choose
their favourite fresh meat from the wide variety display

Marketing strategy

6.1 What is your marketing ‘positioning’ objective and why:

The main positioning objective is the unique style of cooking, enabling the customers to choose the products of
choice, cooking the food before their eyes , less competition in the market, enhanced profit margin and attracting
newer markets

What are you going to do to achieve this Why have you chosen this marketing How much will it
market positioning? method? cost?
The management uses effective
The management is willing to advertise advertising, word of mouth and social
through social networking and print ads, the marketing 50,000
stores will have a unique display boards

TOTAL COST 50,000

Competitor analysis

Guidance: This needs to be a comprehensive overview of the competition in order to convince the reader that you have analysed the
market thoroughly

7.1 Table of competitors

Name, location Product/service Price Strengths Weaknesses

and business size

Hīrō no Tabemono Café Steakhouse GBP 5 – GBP15 New style of food No major change in the menu
since launch
Romanian stall Veg and Non Veg food house GBP 3 – GBP 20 Romanian food No major change in the menu
since launch

7.2 How and in what way is your operation more innovative than the competition?
Being new on the market, especially in South Bank will be the only steakhouse in where food is cooked in front of the customer and each and every customer has the
opportunity to chose their own piece of meat from a big display with different choices. Alleb Steakhouse comes with a new concept which offers warm atmosphere and top
notch service.

7.3 Why will customers choose your operation over the competition?
Because of unique food products, enhanced services, low cost and high value
7.2 New Business SWOT analysis :

Guidance: Be objective here to the internal and external attributes of your operation

Strengths Weaknesses

Have enthusiastic members of staff Specialising in steak limits our customers to choices of other food
Unique meat display Food variety surrounding
Local produce may be more costly then imported
Unique way of cooking Good marketing campaign needed
Specialised in steak with own beef farm in Romania
Fresh meat replenished daily

Opportunities Threats

Location New businesses could establish, creating competition

New vibrant community Other food varieties
Area is suitable for all age groups
Will be a licensed restaurant
High class income area

7.4 Unique Selling Point (USP):

Guidance: How will your operation differentiate itself from the competition – but objective and specific about where it will be
superior

Unique Selling Point (USP)

The main aim is to locate the restaurant where customers will be having the best view with dark themed ambience.

Future development – how will you look to develop your concept in the future to remain competitive?

Las Iguanas is also located in the same location but my restaurant will be unique as my focus is to attract customers who has knowledge about steak, who love steak
and wine. All the table will be unique with a space where chef will have space to cook the meat in front of the customers. All my customer will have freedom to choose
their favourite fresh meat from the wide variety display
Section four
Operations and logistics

8.1 Production:
The company will appoint chefs for cooking food and also appoint 5 customer service people to manage the
customers. The stores will be managed by the business owner, the accounts activities is managed by second
business owner and marketing activities is taken care by third co-owner.

8.2 Delivery to customers:

The management will offer in house restaurant facilities for the customers, they can sit and dine in the restaurant,
also the company offers take away counters to the customers, there will be a separate counter to meet the needs
of the customer who choose take away. Also, the management will appoint delivery person who will deliver the food
to the customers at their doorstep.

8.3 Payment methods and terms:

The company enables in accepting the payments through following modes
Cash
Debit / Credit card
Google Pay and other electronic mode of fund transfer

8.4 Suppliers:

Name and location of Items required Payment arrangements Reasons for choosing
supplier and prices supplier

Farm n Fresh Meat and other Monthly Cost effective, easy to

products access, quicker delivery

8.5 Premises:

Successful restaurant branding can set your eatery apart, giving it a memorable ambiance that guests will
want to experience time and again. The management want to create an emotional connection with guests
with the food and ambience in my restaurant. This will help to increase the loyalty and to attract new
customers.

8.6 Equipment

If being bought

Item required Already owned? New or second Purchased from Price

hand?

Cooking utensils Yes

Gas and other Yes

cooking materials

Chairs and tables No Second hand Online 10,000

8.7 Transport (if applicable):

No transportation is required at the current level of business

8.8 Legal requirements:

The management will adhere to the small and medium sized enterprises which are stated by the government, gets
the licence from local government to run restaurants, the company also follows the general guidelines of operating
the business

8.9 Insurance requirements:

The shops and other assets will be insured so as to mitigate the risk due to loss on theft, accident or natural
disaster. The cost is estimated to be around 10,000 per year

8.10 Management and staff:

The management consists of three members who are the business owners, the management will appoint 2 chefs
and 5 customer service personnel.

8.11 Additional information:

The strategic business unit, popularly known as SBU is a fully functional unit of a business that has its own vision
and direction. Typically, a strategic business unit operates as a separate unit, but it is also an important part of the
company,
The management is planning to place the restaurant small stalls in Camden market, Covent garden, Southbank
centre food market, portobello market and maybe winter wonderland. All these places are for food lovers and my
unique technique of cooking meat will promote my restaurant in South Bank. All the customers coming to all of
these stalls will have discount vouchers to visit restaurant.
Section five
Costs and pricing strategy

Product/service name Steakhouse

A Number of units in calculation 100

Product/service components Components cost

B
Lunch 10

C Total product/service cost 7

D Cost per unit 7

E Price per unit 10

F Profit margin (£) 3

G Profit margin (%) 30%

H Mark up (%) 50%

9.2 Additional information:

     
Financial forecasts

10.1 Sales and costs forecast

Below is the Total Prime Cost I am considering for my Restaurant:

Year 1- £ 1625186.00
Year 2- £ 2010113.00
Year 3- £ 2274561.00
 
Forecast of Total Controllable Profit for the Restaurant:
Year 1- £ 1154814.00
Year 2- £ 1709887.00
Year 3- £ 2109439.00
Competitive factors
According to CIA, in 2017 Japan was classed as the second country regarding life expectancy. (cia.gov, 2019) . The life expectancy is calculated by the quality of life, one
of the factors contributing to this being their healthy cuisine. The Hīrō no Tabemono Cafe will be based on a japanese cuisine, serving the most popular dishes such as
Ramen, Sushi, Gyoza, Sashimi, and more, all of which are considered to be healthy due to the mixture of vegetables, meats, seafood and even fruits in their recipes.
10.2 Identify potential risk to any continued success and sustainability of the hospitality
organisation in the future

The absolute motto for all companies (operating in any industry) is to get good sales and a good
business response at the end of the year. To understand this, the organization must be serious
enough to implement its plans at the right time with the right strategies. Therefore, in order to continue
with this process, it is important to conduct rigorous research to find the part of the customers who
really benefit from this benefit and improve them for long-term results. The best practice for starting an
extension is customer analysis. To achieve this, you may need to respond to the questionnaire, which
can help the owners understand what type of target customers are evaluating your initiative. This also
ensures that the company has an idea of how many tools it will take to make a complete change.
(Ackermann, 2013)
Before deciding on a risk management strategy, you must first determine the risk. An organization
must follow three steps before deciding on the best risk management strategy. Since risk
management may require a significant amount of resources, refinement and management must be
defined before proceeding with risk management. The three factors are: Risk identification: The body
must first consider all possible sources of risk. (Monk, 2012). They can also use a risk assessment
tool to identify potential risk events. Risk Event Evaluation: Once the organization has identified the
risk, you must assess the potential damage caused by the risk. As mentioned earlier, the severity of
the risk is extremely important for the organization as it facilitates the formulation and planning of all
relevant risk management strategies. Provide an up-to-date response to a risk event: Once the risk
has been successfully identified and evaluated, the organization begins to determine what tools may
be needed to mitigate or eliminate the potential risk event. Risk management is essential and failure
to implement can have a serious impact on the organization. (OSBIE, 2015). The extent of the
consequences of risk-free management depends on the risk event, but may include financial loss,
damage to an employee, business disruption, damage to reputation or failure to achieve the business
objectives (UCS, 2015). There are many other possible consequences for risk-free management,
especially for a particular risk event, but none will have a positive impact on a company's
performance. This highlights the importance of a risk management organization. In addition, there are
other methods for prioritizing risk events that need to be addressed. Emergencies can also be
classified with different techniques. For companies that want a more adaptable risk prioritization
technology, the multifunctional strategy is preferred. In fact, the properties of interest can be chosen
based on the interests and priorities of the organization and its stakeholders. It has many similarities
to the probability table, but offers a more creative and free method of defining variables used in the
risk hierarchy. There are many variants of this technology, including a bubble chart, a risk priority
chart, a network of significance and uncertainty, and a high-level risk model. (Monk, 2012)

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