Business PLAN
Bollywood Bar
Executive Summary
• Bollywood Bar is the place to be if you're looking to add a fair dose of masala not
just in your food, but, otherwise too! Thematically, we're totally inspired by the
most colourful and biggest film industry in the world - the Hindi film industry aka
BOLLYWOOD! The decor is totally desi; iconic Hindi film posters and moments
adorning the walls to the quintessentially desi auto-rickshaw styled seatings! Our
menu is as colourful and diverse as the decor if not more! Right from cult
favourites from Mumbai streets like - Vada Pav, Dabeli, Dahi Puri, Bhel to the old
classics like Chicken Tikka Masala, Butter Chicken and a little touch of fusion with
our Indo-Chinese specialties like Hakka Noodles, Manchurian, Fried Rice, we have
it all!
Products and Services
• Bollywood Bar accommodates both vegetarian and non-vegetarian customer’s
palate. The restaurant is going to provide various facilities like online booking,
home delivery etc. Menu has been attached to assist through the variety of
food items available at the bar.
Online and Offline offerings
• The owner has planned to launch the business for ‘Home delivery’
and an official restaurant website to upscale the business and bring
more benefits to it. This will be done after a minimum period of 6
months, once we are able to have some foothold in the market.
Platforms like UberEATS will also be used to promote the restaurant.
Key to Success
• 1.
Keep developing new customers.
• 2.
Using Customer-Relationship Management to keep customers.
• 3.
Through making advertisements to make the marketing of the products and brand.
• 4.
Build the first-class marketing channel.
• 5.
Employ and Train workers to first-class.
• 6.
Establish the first-class learning organization and business culture.
• 7.
Establish long-term partnership with suppliers.
• 8.
At the mature stage, using expansion strategy and build branch restaurants nationally.
Swot Analysis
• Strengths-
-Restaurant is located at a very good location which is close to residential area in a mall and a primary school
and is convenient for people living in the area and nearest suburbs.
-Experienced staff with a knowledge of good customer service skills.
-Food quality of restaurant is very good and food is planned to serve at a very reasonable price.
• Weaknesses-Sometimes waiting times for cooking orders may take more time in the busy periods which can affect the reputation
(as few menu items are time taking).
-Lack of experience in tis current competition.
-It is only having a dining area for 40-50 customers at a time which is not enough in busy periods.
-It does not open for dinner on Monday and Tuesday night.
• Opportunites:
-If restaurant start to do buffet system once in a month or every quarter, it might be an opportunity to attract more
customers.
-Regular promotions on the dishes every week can be a good to increase the sales of restaurant.
-Providing bonuses to the staff for their hard work can also be a good initiative to do teamwork.
-Market research can also be a good opportunity for the business if they regularly keep themselves updated with change in
market conditions and trends.
• Threats-One of the major threats for the business is that there are other competitors in the market as well.
-Due to COVID-19, restaurant is facing very challenging time as people might have economic issues due to the pandemic.
-As one more restaurant is going to open in the adjoining area, it can also be challenging for the restaurant.
PESTLE
• Political-Political factors can greatly influence the restaurant business anywhere in the world. Examples of political factors are tax
reforms or health and safety guidelines. It is very important to determine these regulations and make appropriate decisions to
minimize the impact of such regulations. We need to make sure that the business follows these government regulations.
• Economical-Economic factors also affect every industry. If the inflation rate increases in the economy, it will affect the prices of the
ingredients and restaurants have to increase menu prices which might affect sales as well. Due to this pandemic, whole world is
suffering from economic problems and It can affect the sales and market promotion and foot holding may take some time.
• Social-Social factors are the most important factors that can impact the sales of a restaurant. Every business needs to keep in mind
the preference of local people for the food in that area. Businesses need to know the likes and dislikes of people to operate in a
particular area. We are going to focus on the choices of local people, mainly but have planned to cover various international
cuisines, too.
• Technology-Technology is the most dynamic factor of pestle analysis. Rapid technology advancement and change can impact
restaurant business for sure. These days, every restaurant that use the modern technology such as Uber Eats and menulog have
seen their business running well. We have also planned to use this technology.
• Legal and other bodies can influence restaurant business. These regulatory authorities frequently visit the different areas of the
restaurant like kitchen and to check the different food items quality and expiry, staff and other hygiene conditions. Every operation
of the business will be made sure and checked regularly to ensure that restaurant meet all the regulatory requirements.
• Environment-Both the internal and external environment of restaurant is very important to consider. Restaurant staff comes under
internal environment, so it is important for owner to make sure that staff is happy and working in a team. Competitors comes
under external environment so we need to keep an eye on the competitors as well and make changes in the restaurant if needed.
The Restaurant believes the same has made all the required arrangements
External Factors Affecting Business
• Competitor Analysis- At the end of financial year 2020 there were 44,679 cafés and restaurants
operation in Australia. The number of cafés and restaurants in operation in Australia has
increased steadily from around 41,500 businesses in 2017. The market size of the Restaurants
industry in Australia has declined 1.3% per year on average between 2016 and 2021. The primary
negative factors affecting this industry are high competition and low barriers to entry. The
Restaurants industry in Australia is the 2nd ranked Accommodation and Food Services industry by
market size and the 75th largest in Australia. The market size, measured by revenue, of the
Restaurants industry is $18.5bn in 2021.
• Customer: Consumers are becoming increasingly aware of the health issues associated with poor
diets and obesity. This trend is reducing demand for the unhealthy food and drink products
provided by many competitors operating fast food chains. Rising health consciousness gives
restaurants an opportunity to generate higher revenue by providing healthy options. Health
consciousness is expected to increase in 2019-20.
Business Strategies
• Market position: If the restaurant will provide high quality products and service, customers will
recognize the value and unique offerings of the restaurant. The restaurant will expand its main
menu which will attract more customers. The restaurant will have variety of food such as
vegetarian and healthy options, so the restaurant can give tougher competition to its
competitors. The restaurant will make itself brand name, so people will just know the name and
will come to have quality of food and service.
• Target market: Target market of the restaurant is to attract all type of people such as couple with
kids, group of people specially on weekends. The restaurant opens 7 days but, weekends are days
we make more money. That’s why the business also focuses on birthday and wedding parties as
well. Its closer to school, so it also tries to attract school kids after the school hours.
• Demographics: According to our restaurant demographics is a continental restaurant but it
doesn’t mean that the business just wants to target only that aspect of the market. The business
wants to target every age, group of people, religion, race, community of people.
Business Objectives
• Every business wants to increase profit, sales and customers
satisfaction. This restaurant also wants to increase its profit and sales
and provide the best customer services. The restaurant’s main
objective is to maintain positive, steady growth each month especially
on weekdays. The restaurant also wants to ensure customer
satisfaction and build a repeat-customer base. Most of restaurant
tend to improve their position in the local market and build their
brand. This type of objective may be as simple as creating an
innovation restaurant name and logo that becomes a household
name.
Marketing Strategies
1. Product- We will be committed to provide fresh and healthy food and beverages
as well as great customer service. Our products include variety of cuisines. Product
refers to what you are selling, including all the features, advantages, and benefits
that your customers can enjoy from buying your goods or services. When
marketing your product, you need to think about the key features and benefits your
customers want or need, including (but not limited to) styling, quality, repairs, and
accessories.
2. Place (Distribution) strategies• After a foothold in market, after 6 months the restaurant plans to hire external
delivery agents, so that customers can make an order online for dining or
takeaway.
• It will offer a fast delivery service and guarantee that the customer will receive
their order within 30 minutes and they deliver food in the nearest suburb free of
cost to attract more customers.
Price strategies
• 3 Price strategies
Restaurants do make small profit margin that’s why menu pricing should be simple. When doing price
strategies for restaurant then think of offset operational costs throughout the business and customer’s
expectation and see how prices are related to the market. There are some price strategies that can be used are
follow: 1. Always do cost out whole menu If the restaurant wants to make money in an industry of thin margins, then
must know the food cost percentage for each menu item.
2. The Restaurant will not price its menu based on our competitor because we don’t know their food costs and
if they are busy doesn’t mean they are making money.
3. Charge a premium price for those items which stand out from others and create a different brand. Having
such items which separate the restaurant from competitors allows to price menu differently.
4. The restaurant’s trick to menu pricing strategy work is to balance the high cost menu items with low cost
ones.
5. The restaurant provides a free desert with any kid meal and put some items on special such as combo of a
burger and drink for $21.50. it helps to get more customers and make profit.
6. Have a different price for Uber Eats and Menulog because they charge commission as well.
Promotion
• Promotional activities are those activities that we use to make our
customers aware of your products and services, including advertising,
sales tactics, promotions, and direct marketing. Generally, these are
referred to as marketing tactics. Different types of promotion can be
made for the business. The biggest two of them would be social
media and direct promotion like banners and posters.
• We will soon launch a promotion campaign where various elites and
food critics will be invited to review the restaurant. A Facebook page
has been created and restaurant will post the updates about their
new promotions on regular basis. Every week we can find different
dishes at special prices. With these kinds of promotions, we can bring
so many regular customers
Budget
• Financial objectives1.Budgets and financial objectives are the ones help to run successful in both
good and bad time. There are some objectives following:
2. Revenue Growth: - Every business wants to make growth in revenue. To
see growth in revenue, the business must provide quality of food. Revenue
growth comes from the restaurant’s sales and marketing activities.
3. Profit Margins and bottom-line earnings are bit complex than revenue
growth goals. Making profit margins is only possible by keeping costs low by
market research and building relationship with reliable supplier who can
provide quality of supplies with low cost and making marketing activities,
can help the restaurant to make more money after paying all of bills.
Sales Forecast
Sales Forecast
2021
Sales
Usual sales
$55,000
Events sales
$15,000
Total Sales
$70,000
Direct Cost of Sales
Forecast for Direct Cost of sales
2021
Cost for usual sales
$17,500
Cost for events sales
$4,500
Total Direct cost of sales
$22,000
Assumptions
• Assumptions
1. Average sale is $30,000 to $35,000 monthly.
2. Electricity, water and gas bill approximate $2,500 every two months.
3. Stock cost around $12,000 monthly.
4. Fuel cost around $700 monthly.
5. Promotions on social media will cost consistent over $500over the
next three years.
Operational Risk
• During the operation, there could be many risks such as supply
problems, public activities fail to attain expected effect, lack of capital
and so on. Therefore, in order to avoid these risks, we need to make
adequate preparation: training employee, establish learning
organization, guarantee financing. Besides, it is very important to
communicate with the customers and partners, strengthen HR
management and the business culture building to make the
employees have the sense of proud ,belonging and
independence, we could reduce risks through these ways.
Controls
1. Customer Feedback: - Monitor customer feedback through polls and surveys and ask specific
question about new marketing plan. Surveys can be done by email or on social media platform. We
can adjust marketing plan according to result of surveys. For example, if customer feedback
indicates that new menu item is that good, then we can remove that item or product from the
marketing plan.
2. Budgeting and monitoring spending: - It is very important to place controls in which can be used
to monitor the marketing plan such as design and print advertising expenses, social media expenses
and expenses of market research studies. All these costs need to be closely monitored to minimize
spending and maximize profitability. By reviewing expenses, the restaurant can maintain budget and
see exactly where spending coming from.
3. Target Market Sale: - Each marketing plan sets target market sale and determine the effects of
the marketing plan on it. This is done through market survey to see actual sale is meeting the target.
If any changes need to be made, so they can be done. To meet target market sale.
Thank You