Business Plan On Opportunity Journal

In order to understand what potential clients (in the traditional foods market) want, I propose to collect data from both primary and secondary sources. Primary data will be collected by interviewing customers who visit traditional foods restaurants within the area - using simple open ended questionaries. The main aim of the interviews will be to understand acceptance of traditional foods, pricing and the areas that are not currently served well. Secondary information, on the other hand, will be collected from relevant literature found in books, magazines and online sources.
The traditional foods market will be segmented based on the origin of customers and their age. The restaurant’s PTA will consist of local customers with family and those without families. The restaurant’s STA will consist of customers from outside the city, and even those who come from overseas.
The core product of the business will be traditional dishes made by people from around the country. Therefore, the predominant products will be traditional Australian cuisines. Augmented products of the business will include drinks and beverages; this will include both soft and alcoholic drinks. The value proposition of the restaurant will be variety, quality and good pricing. This will be summarised by the statement “quality traditional Australian cuisine at affordable price.”
Pricing of the products will be done through benchmarking; this will involve looking at the prices offered by competitors. The food products will be cheaper if customers come as a group (this is intended to encourage married people to come with their families and unmarried people to come with their friends). To make the payment convenient to the customers, we will allow online and mobile payment systems (for those who order our services online).
For clients who order our services through the phone or through the internet, we will facilitate delivery through grouping them according to their areas of residence or work. Therefore, client details (such as the postal code) will be useful at this stage.
In the early stages of the business, marketing and advertising will involve word of mouth to workmates, friends, relatives, and ex-school mates. Guerrilla marketing strategies (such as putting flyers on the nearest supermarkets, parking bays, schools, and other existing businesses) will also be useful. This will save the business advertising expenditures, which will be redirected into online marketing through social media.