Business Planning
Food industry is one of the largest and most lucrative industries of the world in terms of revenue recognition and size, and the industry is booming in almost every part of the world. Though, restaurant industry is one of the largest industries of the world, but still there is a huge gap among the utilization of this particular industry (Abrams, 2004). Developed countries like the United States, United Kingdom (UK), Germany and others are some of the largest countries of the world in terms of effectiveness and power. However, other parts of the countries like Asian region are very attractive places for the Dining halls and restaurant business. People always look forward to have quality and food which are enriching in quality and other things, and they will be used for different purposes (Abrams & Vallone, 2005). This particular industry is currently in the highest stage of effectiveness and prosperity and has the tendency and potential to increase accordingly in the market. From the Gap analysis, we will get an idea that whether or not it will be productive to open a new restaurant or dining hall in the prescribed place, or there is a need of such restaurant at this area or not.
Company and Service Description
This particular part would be extremely beneficial and effective as far as having in a business plan is concerned, because it has sufficient information related with the business and the core services or products which the company is intending to offer to their target customers (Pinson, 2008). This particular section can be very important of the researchers to get a fair idea about the company and the services the company provides and intending to provide accordingly. This particular section should also include the Mission and Vision statement about the company to value down the things for the analysis in purpose. Company and Service description along with mission and vision statement are necessary to include in the business plan, as it is important for the bank managers to get an idea about the company’s and their goals.
Market Research
Research is the most important strategy that comes under the ambit of analysis and findings and the making of a business plan (Pinson, 2008). There are two important types of market research are there known as Primary Research and Secondary Research. Primary Research will be done on the basis of Questionnaires and surveys, while Secondary research will be done on the basis of past research and the data accumulated through the authentic resources. For a business plan both of these types of researches are essential, and we will use the same while making our business plan. Our plan is to establish a dining hall or restaurant, therefore it is important to get as many information as can from the same analysis. The secondary research will give the fair idea about the current market development, market potential and significance of this particular industry, and what are the core benefits associated with this particular company to the industry and economy. The basic theme of every business plan is to attract the investor, most of the time it will be the bankers particularly to let them inform that the business plan would be essential and effective as well as organized, and have the tendency to create jobs in the markets. If the plan has the tendency to create sufficient jobs in the market, then the business would be equally beneficial particularly. Market Potential is an important stance that specifically associated with the achievement of goals and objectives of a company, and our goal is to become a perfect solution for the individuals who are looking forward to have effective dining solutions particularly in the market. Primary Research would be effective for us in the future as well, as we can make sufficient questionnaire and asked the solutions from the customers particularly. These particular types of research would be extremely essential and effective for us in the future to make us realize that how the market is going to deliver the best things in the market. With the help of effective strategies, the research will be based upon the core aspect of the research particularly. This is an important strategy which surrounds the basic necessity and effectiveness of the market.
Operational Plan
One of the basic and important things that cover under the same aspect is Operational Plan, which usually has the information related with the hiring and firing of the employees particular (Pinson, 2008). Operational plan also has the sufficient information related to the managerial aspect as well. It has the information of management strength in particular. We will use the same plan to include all the information related with the employees of the company, and the things which are eventually related with the market. Operational plan has the information regarding the total employees which are working in the company in the current time, and what will be the total employee’s amount after a certain time period. It is one of the most important strategies that can enhance the productivity of the company in a perfect and organized manner. Dining Hall should have a number of employees particularly to get the things in the right manner for their core effectiveness. With the help of a perfect operational plan, we will get an idea about the effectiveness in the market and the things which will be essential for us in the future aspect as well. The operational plan will certainly makes us possible and effective in the market.
Marketing Plan
The most important section found in a business plan is the Marketing Plan that will analyze that how the company will approach the market in an effective manner, and how the things found relative in their core aspects (Pinson, 2008). A marketing plan usually works on four important aspects known as Product, Pricing, Place and Promotion Strategies. All of these strategies are important for the sake of the company, and it is usually associated with the long run productivity and efficacy from the market. We will also use all of these marketing principles to analyze the approach we will consider as far as delivering the best in the market in an effective and organized manner. Dining hall is existing in almost every country of the world, and it is equally applied over this dining hall business as well. Dining hall is doing an exceptional job as far as increasing the economic capability of the economies in an exciting and effective manner in particular. We will use the marketing plan to differentiate our product from the other products operating in the same market. Pricing is the most important strategy that will be used to differentiate the products from the viewpoint of pricing particularly in the market.
Risk Management Plan
The level of risk would be extremely high for the companies which are trying to open a new place in the market in an effective and organized manner. Risk Management Planning is the type of planning through which the risk could have been managed by the companies in an organized and perfect manner. We will use this particular plan and will include in our business plan to make it more effective and organized particularly for the management of riskiness. The planning of risk can be extremely essential for us to make the things in the right manner at the right time.
Financial Plan
A plan usually has the financial information related with the company, and how it will deliver the things in the market is known as Financial Plan (Pinson & Jinnett, 2000). Financial Planning is all about forecasting the revenues and net income of the company, and we will use them to educate our readers and the investors that how effective will be the dining business in terms of establishment and effectiveness particularly. It will be a great plan for the success of the company and we will use them accordingly in our proposed plan.
References
Abrams, R. (2004). What business should I start?. Palo Alto, Calif.: Planning Shop.
Abrams, R. (2006). Successful business research. Palo Alto, Calif.: Planning Shop.
Abrams, R., & Vallone, J. (2005). Business plan in a day. Palo Alto, Calif.: The Planning Shop.
Pinson, L. (2008). Anatomy of a business plan. Tustin, CA: Out of Your Mind and Into the Marketplace.
Pinson, L. (2008). Keeping the books. Tustin, Calif.: Out of Your Mind--and into the Marketplace.
Pinson, L., & Jinnett, J. (2000). Steps to small business start-up. Chicago, Ill.: Dearborn.
