Business Startup Proposal
Delicious and healthy food on time
Summary
Time Food is an Asian food restaurant that is totally committed to providing its customers with healthy diets. The restaurant is also committed to ensuring that all the guests get professional, courteous, and quick services. As a leading food eatery in the region, we will continuously ensure that the food we serve to our customers meets highest standards of seasonality, freshness, and quality.
Team
Time Food’s management team comprises a chief operating officer, a catering manager, and a marketing manager. The chief operating officer has a master’s degree in management and over seven years of robust operational experience. The catering manager has a bachelor’s degree in food science and technology. She also has over three years work experience in numerous catering outlets. The marketing manager has a bachelor’s degree in business administration and five years of work experience. All the three individuals holding these positions have robust leadership skills as well as exceptional communication and interpersonal skills necessary to ensure our success.
Problem
The obesity problem is affecting the wellness and health of a high number of individuals, especially in our country. For this reason, Time Food Restaurant’s healthy food offerings will help solve this problem. We do not plan to offer fast foods to our customers. In essence, our foods will provide the customers with all the nutrients they require for healthy living and in one way or another help in solving the obesity problem.
Solution
Time Food aims at reducing the obesity problem through serving nutritious food to the customers. Specifically, we are keen to demonstrate that we take the problem of obesity seriously. In an attempt to help solve the obesity problem, we will always prepare reduced-calories meals. Besides, we will advise our customers on healthy eating and living. We will use our ads to promote healthy eating and living. In fact, this will help us reach as many customers as possible.
Marketing/Sales
Time Food targets the young people. Specifically, our target customers are people below thirty-five years old. A significant percentage of young people suffer from obesity. Fast Food will, thus, promote healthy eating to them through offering healthy diets. Our target customers are tech savvy. We will, thus, use digital technologies to reach them. In particular, the company will mostly use the social media sites. Our target customers are found in numerous parts. Thus, the use of different digital technologies will help us reach as many young people as possible.
Projection/Milestones
We expect that the initial few months in business will be slower since the restaurant is a start-up. Thus, we do not expect to make numerous sales during these months. However, we anticipate experiencing a steady growth cycle as the months pass. We project the profitability to occur in the first ten months of operation. In an attempt to continue increasing our customers and sales, we will utilize the essential strategies.
Competition
The competition in the market is fierce. Already the food market is dominated by numerous top food eateries. Consequently, our restaurant being a start-up will experience high competition, especially during the first year of operation. It is vital to note that our restaurant is different from the competitors despite them being ahead of us in terms of years of operation. The majority of them offer fast foods. On our part, we will never serve our customers these types of foods. Only healthy foods will be on our menu. As a result, this will give us a competitive advantage. As a matter of fact, the other competitive advantage over these competitors will be the quality and flavor of our foods. We will use fresh and organic ingredients to prepare our foods. Unlike our competitors, we will advise the customers about healthy eating and living and provide them healthy diets. We will demonstrate to them that we are fully committed to their health and wellbeing. Consequently, this will give us a competitive advantage.
Business Model
Time Food will generate revenue through serving the customers healthy diets. Our food offerings will give the consumers the nutrients they will need to have energy, maintain their health, and feel good and satisfied. During the initial months of operation, will use the penetration pricing strategy to increase our customer base. In particular, we will price our foods at a low starting price and increase it gradually. We believe that the low price will make the consumers easily switch to our healthy foods. The penetration pricing will help us increase our market share and sales quickly. Additionally, this pricing will help us beat the competition. Apart from being nutritious, our food will also be reasonably priced. We believe that our pocket-friendly prices will attract a large number of customers since the price of most of our competitors is high.
Financing
The overall startup capital that Time Food Restaurant requires is $10,500. The amount that I have raised is $7,200. Thus, I still need $3,300. I will apply for a loan from the local bank to raise this capital. The total capital will be used to purchase the kitchen inventory, pay the rent, pay for the legal expenses and insurance, and recruit the cooks and other employees, among other expenses.
Questions and Answers
Time Food Restaurant will use the initial public offering (IPO) exit strategy. In other words, the business will go public after six years of operation. The risks inherent in the operations of this business include the health and safety risks. We will use the return on investment to calculate the profitability of the business.
