Entrepreneurship Management

Business Plan
for

‘Panache’
(a fashion based Restaurant)

BY:
Himanshu kumar(11)
Rajani Kant Gautam(24)
 Business Description
• focus on providing customer a show case of fashion in
affordable price.
• This will give them an unforgettable experience witch will
take them to other world with totally new experience.
• The main attention is theme witch will match with the
food.
• Customer will attract to the panache experience because
its location, theme décor and unique concept.
• fresh experience every time one will visit to it.
 Business Idea
 
• The trend of going out and having fun and food outside is
more or less being fashion today.
• restaurant whose interior and background will be fashion
related goods.
• display of fashion goods from different centuries to show
the story of evolution of fashion .
• People can buy that collection if they want to.
 LOCATION

• The location of the business will be New

Delhi.
• It will be the same area where the new
commonwealth village is being developed.
• Area is fully developed .
• We already make the deal with a person whose
building is in the construction stage and it will
be completed by December 2011.
Location Google Map
• The restaurant will serve the food of fashion capitals.
• It will be a five floored building
• Every floor will serve food which will relate to that
capitals specialty
• Total project cost was Rs. 9842000
 Product and services

•• Food
Food experience – The one of the major objective
objective of
of panache
panache is to
to
provide
provide food
food so
so itit can’t
can’t be
be compromised.
compromised.

•• Fashion
Fashion tour – This will be a small package for fashion tour.
People
People with
with fashion and non- fashion back ground can understand
the
the concept
concept and
and emergence
emergence of fashion.
fashion. To
To create
create more
more awareness
awareness
and
and create
create aa bigger
bigger market share for organized
organized retailing
retailing in
in our
our
country.
country.
• Varity of food - LONDON, PARIS, MILAN, TOKYO and
NEW YORK known as the fashion capital of world we
will serve food from these places which will add a verity
in our food range.

• Fashion retailing – with this opportunity will give an

offer that they can get any of these designs done with the
help of our professional designer, who will work under the
brand panache. It will be a customised offering to our
customer
 STRATEGY TO DIFFERENTIATE

• The main strength of the panache will lie in the highly

differentiating approach of the facility.

• offer a wide array of entertainment activity from retail

store facility to children fun zone.

• The facility will encourage the customer to gain as a

interest in fashion and collection.

• This will be beneficial to panache in long run.

 Competition
• Buyer’s power – We need to have sufficient cash to
provide the kind of facility we want to prove to our
consumers.

• Supplier’s power – we need to build a special relationship

with our supplier to get best cheap product in time for our
service.

• Thread of substitutes – People can come with similar

concept to eat our market capitalization.
 Competitive advantage
• Customer dissatisfaction-

o lack of knowledge about fashion industry.

o Food will be available as per Indian and food from
fashion capitals.
o people can have American, French, Spanish, British,
Japanese food under one roof.

• Product features- it will be different from other

restaurant because of two major factors food and interiors
and displays. It will give a kind of fashion museum
feeling to the people.
• Buying process- We will try to develop the aura of initial
fashion through the displays and foods. We will hire few
designers from various places to create those materials.

• Consumption process- It will be an open forum for

people to come and have food and in the mean time they
can be the witness of history of fashion.
What Type of Business Is
PANACHE Restaurant?

Service Retail Business

 Business Organizational
Structure
• Restaurant will open on a partnership term
between Himanshu kumar and Rajani kant
gautam.
• By doing bussiness in partrner ship it
would gain a larger spectrum of ideas.
• If the company needs financial support, a
partnership would disperse the financial
burden.
Mission and vision
• Being a fashion graduate from one of the best college in
this industry our main aim is to cater the fashion industry.
• Since the entire contacts are related to fashion industry it’s
always good to work in the fashion industry only.
• Initially it will be a small venture i.e. it will start from
north India ex- Delhi. Since it is a place where
communication can’t be a barrier so will start it from there
in a small scale to see the response.
Management segment
One of the biggest factors to the success of any business is staff that is employed. The panache experience will employee total 100
people including us. The following job description will cover all position that will hire at Panache.

CHAIRMAN

HEAD FASHION
HEAD FOOD
MERCHANDISE
In other we need:
•Accountant
•Attorney
•Insurance agent
Who Is The Target Customer?
Couples looking for a romantic date.

Potential customers can be of any social status;

PANACHE is surrounded by a romantic atmosphere it is aiming to bring

in adults of both genders.

Fashion oriented peoples

Last but not the least- peoples want to have a great taste
 What Needs or Wants Will the
PANACHE fulfill

Panache will be able to provide a friendly, romantic, and clean environment

to any guest who may want it.

Restaurant will be able to provide an array of tasty meals to any diner.

 Market Research Results

•Most potential guests would like an antique décor paired with a romantic
atmosphere.
•Potential diners would like to dine in a casual atmosphere inside of the
establishment they are staying at.
•Potential diners would be most likely to pay RS 300 per person.
•When searching for choosing restraunt , most people look on wiki poles and
and information over the internet.
SURVEY RESULTS

ATMOSPHERE

ROMANTIC
FAMILY
FRIENDLY
BUSSINESS
NO ANSWER
SURVEY RESULTS

DECOR

FASHIONABLE
STUFF
ANTIQUE STYLE
MODERN
CAN'T ANSWER
FOOD PREFERENCE

CASUAL
ELEGENT
CAN'T ANSWER
HOME STYLE
 Operational segment

LABOR SUPPLY
•The total labor supply will be of from Delhi only.
•We will hire people from hotel management background for our
Restaurant business.
•Then we will hire emerging designer from NIFT, PEARL so that we
get the best of lot of designer who can design the garment.
• This will showcase the aura of that era.

BUSINESS OPERATION
The hours of operation will be Monday - Friday 12 a.m. - 12 p.m.,
Saturday and Sundays 2 a.m. - 12 p.m.. 
Daily Activities:

•Day open
•Cash/credit deposit
•Briefing
•Check for any requirement- any rush order to be placed, any customers to be called etc.
•Physical stock take on the floor
•Replenishment on the floor
•Cleaning/dusting
•Arrangement- color blocking
•Attendance- staff and security
•Replenishment on the floor during the day- after sale
•Any pending alterations, home delivery etc.
•Update customer contact details.
•Take action on the comments given by the customer feedback book.
•Note nay customer requirements and loss of sale.
•Credit card settlement.
•Check closing cash.
•Record the operational expenses of the day.
•Day close
•Mailing DSR for the day before the store closes.
Share and discuss the final sales figure with the team
Weekly Activities:
•Replenishment/ Reorder of stocks
•Preparing loss of sale report
•Changing the VM in the store
•Managing the redeemed privilege vouchers.
•Sending defective fabrics back to the manufacturers.
•Discussion on store performance with the team
•Vacuum cleaning in the store.
•Market visit by the manager/owner.
•Weekly briefing with the team by the store manager/owner.
•Stock room arrangement.
Monthly Activities
•Managing the rent and other bills.
•Setting individual targets and responsibilities for customer care associates
•Customer care associate appraisal
•Change in arrangement in hotel
•Stock check and audit
•Order carry bags
•SMS customers about new arrivals, promotions etc.
•Target and incentive structure briefing.
 Influence of Market Research
on Prior Business Plan

Panache will offer guests a romantic environment with antique décor.

Panache will offer different era fashion displays and lengthy stay
deals.

Diners will have many food options priced around $15 per person.
Financial analysis

•Detail cost
•Project cost
Financial forecast
All financial projection of the panache shows the potential for
success and growth in the existing market. In the second year of
operation. The total investment in this business will be 5 crore and
our total cost of project plan is Rs. 9842000 for the Setup
excluding salary and wages.Rest of the money will be kept in our
account for running the business and salary, wages for the
workers.Total money will come through the bank loan.
Critical risk factor

Inaccurate sales projection – We are confident that the sales projection and market share are
accurate portrayals of business.
If sales projections do not meet the expectation, several steps can be taken to avoid or
reduce potentially devastating problems. An initial step to increase the cash flow would be
to sell inventory at reduced price. The advertising cost also can cut back to help ease the
pressure.
Failure to reach the projected revenue could be offset by aggressive pursuing the youth
market, with more camp in early schedule, and more time will be given to attract youth
market.
 Milestone schedule 2012
MONTH DESCRIPTION
JANUARY ESTABLISH CONCEPTUAL IDEA OF SETTING UP THE RESTAURANT. BEGIN THE RESEARCH
WORK TO INDUSTRY AND INITIALLY CONVERSATION WITH HOTEL PERSONALS

FEBRUARY  FIND LOCATION

 CONDUCT SURVEY ON FOOD TREND AND FASHION
 DESIGN LAYOUT
 ATTEND THE FASHION SHOWS IN NEW DELHI
 SEND A MAIL SURVEY AND CONDUCT PHONE INTERVIEW
MARCH  ANALYSE SURVEY DATA
 START WRITING BUSINESS PLAN
 ESTABLISH COST AND DETERMINE THE POTENTIAL MARKET
 COMPLETE ROUGH DRAFT OF PLAN OF ACTION
APRIL  FINALISING THE COST AND COPY OF PLAN
 TURN IN FININSHING THE PLAN
 PRESENT PLAN TO PANACHE INVESTORS
MAY  RECEIVE MASTER’S DEGREE FROM NATIONAL INSTITUTE OF FASHION TECHNOLOGY
 SIGN LEASE FOR THE BUILDING

JUNE  BEGIN THE CONSTRUCTION AND START THE COLLECTING THE MERCHANDISE

JULY  KITCHEN EQUIPMENT PURCHASE

AUGUST  HIRE THE MANAGEMENT WORKFORCE
SEPTEMBER  FINALISING EVERYTHING. CHECKING THAT EVERY THING IS THERE OR NOT

NOVEMBER  GRAND OPENING OF PANACHE

DECEMBER  PROMOTIONAL EVENT WILL START

• Yearly plan calendar 2013-14
• November 2013 hire a second plan calendar
• Continue with normal operation
• Seek new market avenue
• Establish relationship within the community

Future
• Develop a fashion trend
• Implement the customised dressing facility
• Hold seminar and talk about importence of this concept
 ADVERTISING AND PROMOTION

• The advertising for Panache will have to be

very carefully crafted and planned. The
advertisements should match the image the
Restaurant wants to establish in the minds
of its target customers.
• Flyers
• Newspapers:
• Magazines
 With friendly service, LATEST
FASHION PROUCTS,and great
meals, PANACHE IS the perfect place
to go

90 RC road
Mayapri
delhi
Phone: (603) 654-6091 ; Fax: (603) 654-6092
PANACHE @GMAIL.COM
 Business Card

GET THE FEEL TO DINE IN A FASHION MUSEUM!

90 RC road
Mayapri
delhi
Phone: (603) 654-6091
Fax: (603) 654-6092
PANACHE @GMAIL.COM
 Restaurant Slogan:

• GET THE FEEL TO DINE

IN FASHION MUSEUM
 Technology
Gateway Computer: To Keep Good Records
Computer, Telephone, Fax Telephone: To receive and cancel
reservations, WIFI CONNECTION
Hosted By Yahoo: A form of advertisement;
so guests can view rooms and options for
Homepage
their trip. The home page will also allow
guests to make reservations
Quickbooks Pro 2010: Great for keeping
Accounting Software
financial records.
TDSmail: To inform guests of confirmations,
E-mail
deals, cancellations, local weather, etc.
 How to Keep panache to Success:

• Maintain Cleanliness
• Keep staff friendly and happy
• Keep guests happy
• Offer deals
• Continuously present something new
and exciting to keep customers
interested
 How to Tell If PANACHE Restaurant is
Successful:
• Returning Customers
• Good Reviews from Critics
• Smiling Customers!
 panache
• Thank you for your time. If you have
any questions please feel free to call
+919959539712