Rest plan
- 2. Mission Statement The mission will be to exceed the customers’ expectations in every sense by providing ambiance for every sensory perception. The atmosphere and food will please the customers hearing, taste, smell, touch and sight, and provide an exciting creative environment. The employees will be trained with exceptional customer service and will be empowered to make decisions based on the business philosophies. 5/9/2015
- 3. OVERALL Strategy BUSINESS PROCESS What business processes must we excel at? • Develop new products • Understand customer segments • Reduce cycle time • Provide rapid response • Cross sell the product line STRATEGY FINANCIAL How should we appear to our stakeholders? • Broaden revenue max • Improve operating efficiency • Improve enterprise financial health CUSTOMER How should we appear to our customers? •Service excellence •Trusted business partner LEARNING & GROWTH How can we sustain our ability to change and improve? • Hire Key Technical talent • Implement cross training • Align personal goals
- 4. BUSINESS EXCELLENCE MODEL process Customer SatisfactionLeadership Policy & Strategy Impact of SocietyResources People SatisfactionPeople Management Business Result
- 5. Management Positions 5/9/2015 NAME PHONE NO. AMOUNT OF SHARE POSITION IN THE MANAGEMENT MAHADI HASAN 01845-874535 20% DIRECTOR ARIFUL HASAN 01676-353082 10% GENERAL MANAGER SHAMSUDDIN BAPPI 01675-144598 7% FOOD AND BEVERAGES DIRECTOR MIRAJ HOSSAN 01819-643232 8% HUMAN RESOURCE DIRECTOR SHAHADAT HOSSAIN 0168-2955631 7% FINANCIAL CONTROLLER MD. SAEED HOSSAIN BHUIYAN 0174-2965314 8% DIRECTOR OF SALES AND MARKETING
- 6. Strength Weakness Opportunity Threat SWOT analysis
- 7. Market Summary 5/9/2015 The people of Dhanmondi are mostly aristocrat who are willing to pay enough for good food. Dhanmondi is also considered as a great place to raise family and there is a sizable portion of population are school age children. The population is approximately 5,00,000. People of Dhanmondi are mostly educated who like to spend more for quality product. The per capita income of people in our country is increasing gradually which is an indicator of increasing spending power. Dhanmondi is a leisure place with a lake which increase the potentiality of the restaurant.
- 8. Strengths & Opportunities We will provide reasonable customer satisfaction. We will provide tasty and hygienic food in a clean and neat dining room with washing and toilet facility. With a reasonable rate & quantity. All the members of management team are properly qualified for this sector. We have adequate knowledge about renowned restaurant services all over the world. 5/9/2015
- 9. Weakness & Threats Lack of Ambiance The restaurant is new and not established Loan burden We have limited owners capital funds Space for low profit margin High competition 5/9/2015
- 10. Competition Direct completion will come from Abacus, Boomers, Xinxian, Korai Gost, Voot, Baburchi etc. Though no competitors offer the fun and relaxing atmosphere that our organization plans to establish. 5/9/2015
- 11. Goals & Objectives Ensure customer satisfaction and build a repeat-customer base. Improve our position in the local market and strengthen our brand. It also allows us to interact with people on a daily basis. A developed marketing program Promoted through radio and newspaper advertising, posters, and the yellow pages. Coupons will be issued for the family dining section to encourage immediate sales. A person who is active in the community can promote the restaurant through his affiliation with many groups and organizations. 10% discount will be applied to seniors to attract that market. 5/9/2015
- 12. Food & Beverages plan Cuisine Cosine based: Starters Appetizers Deserts Beverages Menu type: Set menu Ingredients menu Chinese Italian Sub continental
- 13. Research & Development 5/9/2015 The R&D sector cost will be made in the following way- Different ideas from different professionals. Promoting new recipes. Experienced Chefs. Other possible sources. Around of the gross profit in R&D sector.5%
- 14. Required manpower Chefs (Permanent & Part-Time) Waiters Hosts Bussing 5/9/2015
- 15. Financial Plan 30000000 30250000 30500000 25000000 23000000 21500000 1ST YEAR 2ND YEAR 3RD YEAR Sales Vs. Expense - 3 years Sales Cost It is reasonable to assume that given the location, size of operation, and unique concept of this restaurant, that it will produce sales in excess of the existing operation. The projections set out in this plan, however, are based on a more conservative estimate. 5/9/2015
- 16. Financial Pro Forma In addition to the 1,20,00,000 of entrepreneurs investment(60%), Hungry 24/7 is seeking 80,00,000 BDT in long-term loans(40%) for providing 1,80,00,000 BDT in investment for renovations, furniture, kitchen equipment, liquor license, food & restaurant supplies, legal fees, working capital, marketing and personnel.
- 17. Economy Slow Economic Recovery. We anticipate a slow-growth economy, recovering from an economic recession. Business Growth Annual Growth Rate Percentage: We anticipate modest growth over the coming years. The financials account for the following growth projections: Year 2: 6% Year 4: 4% Year 3: 5% Year 5: 4%
- 18. Weekly Sales Variance Friday will typically be our best sales for the week. The sales volume for all other days is represented as a percentage relative to Saturday. Therefore our weekly sales will vary as follows: Monday: 55%, Tuesday: 60%, Wednesday: 75%, Thursday: 95%, Friday: 100%, Saturday: 90%
- 19. Six-Month Start-Up Stage As a new restaurant entry to the Midtown market, the ramp- up in customer draw is expected to extend over 6 months. This is reflected in a higher than average monthly sales variance shown as follows (Worst-case / Expected-case): Month 1: 32% / 51% Month 4: 64% / 75% Month 2: 41% / 58% Month 5: 80% / 90% Month 3: 52% / 66% Month 6: 90% / 92%
- 20. Pricing & Cost Control Competitive Pricing Model. Revenue calculations are based upon competitive price comparisons and established menu values in the current marketplace. The following are baseline assumptions on Average Check Totals, and Average Seat Turns: Daily average for lunch spending is 300 BDT per person, dinner at 400 BDT per person. With a focus on Cost Control, we anticipate 6 months to fine tune the restaurant operations and manage our costs within the defined tolerance range between 18-31%.
- 21. Resource Requirements Management: Whole management bodies are responsible for overall management, operations and training. Restaurant Supervisor: To be hired responsible for service staff (waiters, hosts, etc.), scheduling of front-end operations and inventory, and training in conjunction with management. Kitchen Supervisor: To be hired responsible for kitchen staff, scheduling of kitchen operations, kitchen inventory and training in conjunction with management. 5/9/2015
- 22. Market Promotion Online Advertising. Radio & Newspaper Advertise. Posters. Yellow Pages. Affiliation.
- 23. Customer Attraction Coupons Sponsorship Discount Membership Cards Decoration