Unit 6 – Business Planning
I have decide to supply and run an oriental cuisine to my chosen consumer target, to do so I will do some research on what area would be best suited for me to set up my business. Even though I have chosen to set up my business in Huntingdon, because there are not many oriental restaurants in the area which offer any of the demands that I will do for my business. The name of my restaurant will be Dan’s Oriental Food.
Unlike typical restaurants in the area, I will provide a unique combination of excellent food at value pricing with a fun and entertaining atmosphere. The consumer wants value for everything that they purchase at my restaurant, they are not willing to accept anything that does not meet their expectations, and also want entertainment with their dining experience. I will be my own boss and run everything as a plan it.
I will then observe and carry out a survey of food outlets in my chosen area. I will make questionnaires and surveys to find out what types of things like so that I could use it as additional research to identify the appropriate prices, opening times, and furnishings, low and peak demand etc. I will ask local restaurants, shops and other businesses in how and what I need to apply in order for my business to succeed. Also local banks are more than willing to give out information leaflets, which are used as part of preliminary research.
This plan is prepared to obtain financing for the initial launch of my restaurant. The financing is required to begin work on kitchen design, architectural plans, manuals, site selection, equipment purchases, and to cover expenses in the first year of business.
Form of Business Ownership
• General Partnership
• Limited Partnership
• Limited liability Company
• Public Limited Company
I will be the sole owner of my business, because I have unlimited liability, by being my own boss I can make quick decisions without...