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BUS251 Project

North South University

Prepared by

Tahmid Islam Sadat

1030316530

Section-6

Prepaared for

Taufique Hossain (TMT)

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OVER SEA RESTAURANT

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Contents

Letter of Transmittal ....................................................................................................................... 4Acknowledgement .......................................................................................................................... 5Executive Summary ........................................................................................................................ 6Mission ............................................................................................................................................ 7Goal ................................................................................................................................................. 7

Financial Goals: ...................................................................................................................... 7Non-financial goals: ................................................................................................................ 7

The Organizational Plan ................................................................................................................. 8Products and Services ............................................................................................................. 8Administrative Plan ................................................................................................................ 8

Marketing Plan ................................................................................................................................ 9Target Market.......................................................................................................................... 9Competitors ............................................................................................................................. 9Competitive advantages .......................................................................................................... 9Marketing .............................................................................................................................. 10Pricing ................................................................................................................................... 10Advertising ............................................................................................................................ 10

Financial Plan................................................................................................................................ 11COST .................................................................................................................................... 11REVENUE ............................................................................................................................ 12

SWOT Analysis ............................................................................................................................ 12Strength ................................................................................................................................. 12Opportunities......................................................................................................................... 12Weakness .............................................................................................................................. 13Threats................................................................................................................................... 13

Environmental Strategies: ............................................................................................................. 13Conclusion .................................................................................................................................... 13Bibliography ................................................................................................................................. 14

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Letter of TransmittalJuly 29, 2012

Taufique Hossain

Faculty

BUS- 251

North South University

School of Business

Dhaka

Dear Sir,

This letter is written to submit a sample business plan for launching a new restaurant, Over sea

Restaurant. The report is prepared as a partial requirement of the course Business

Communication; BUS 251.

I think this report has helped me a lot to enhance my knowledge about the respective subject

matter. I have really enjoyed working on this report and hope that the work would meet the level

of your expectation.

I will be always available for any further query.

Thank You.

Yours Sincerely,

Tahmid Islam Sadat

ID: 1030316530

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Acknowledgement

First of all, I thank Taufique Hossain, our respected faculty and course instructor, for allowing usto do this report. His guidance and encouragement have truly motivated us towards the

successful completion.

I thankfully remember the contribution of certain individuals. I thank Ahmed Hossain, Executive

Chef & Director Food and Beverage; Mermaid caf, Seagull Hotel. Last but not the least; I

humbly salute the contributions of my friends and family members without whose moral support

I could not have finished this report on due time.

THANKYOU ALL

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Executive Summary

Over Sea company Bangladeshis planning to launch a new restaurant named as oversea

restaurant in a Coxs Bazar. In spite of the ascendancy ofPoushee Restaurant, Mermaid

Caf, Jhaubon Restaurant, Koyla, Hridoi Hut, EFC (Eli te Food Corner)(Cox's Bazar

Restaurants)and several other competitors, we expect we can compete as we are offering our

consumers a combination of high quality and value-added price. We tend to target specific

consumer market segment but hope to capture and retain the rest by providing intrinsic

quality at value-added prices. Though the market of restaurant is highly competitive, in

Coxs Bazar it has a very high popularity and therefore promises much higher profits, which

is an advantage and opportunity forOver sea Restaurant. By providing refreshing, uniform

product quality, taste and value-added prices we hope to get a competitive edge in the

market.

The objectives of the sample business plan for the new Over Sea Restaur antwas toanalyze the current market situation, for the product, plan and position for the market keeping

in mind its other competitors, carry out its SWOT analysis, plan and prepare the marketing

strategies and through action programs, objectives and budget preview the projected cash-

flow from the sales of the products.

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Mission

To let the tourists know about our food culture and ensure them with good health

food.

Goal

We have considered two goals for our company

Financial Goals:

1. Obtain a position within a year or two so that we can expand our manufacturingcapabilities.

2. Increase revenues at least 30 percent each year. 3. Get in the situation of making other outlets in 4 years.

Non-financial goals:

Provide a good environment. Good food Reasonable price. Provide a place where people can refresh their life.

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The Organizational Plan

Over sea restaurant is a Bangladeshi style restaurant. It serves traditional Bangladeshi food. Ourgoal is to provide good quality food within reasonable prices as much as possible. Specially the

restaurant is made for the tourists outside the country. We planned to make it a Bangladeshi

restaurant to let the tourists outside our country know about our food habit. As our food is also apart of our culture so our habit of food will also reflect our culture to the people.

Products and Services

Our products are basically traditional Bangladeshi food. We provide food items, sweet and

deserts, beverages. Few of our food items are- Biryani, Khichuri,Panta Vaat, Torkari, Alu

Bhaji, Luchi, Shujir Halua, Fuchka. Our sweet and desert items are- Pitha, Finni, Khir,Halua, Doi, Shemai, Kalo jam, Rosho-golla, Jorda. And bevarages are- borhani, coffee, tea.

Administrative Plan

After setting the plan we need plan when, where, how we will run the business. This is the

administrative plan of a business. Our plan is described below:

Place:Our plan is to attract the tourists coming from outside the country in Coxs Bazar. So we came

up with our Bangladeshi style restaurant. We found that the Laboni Beach is famous among thetourists. Considering that we are planning to set our business in Laboni Beach first. And we are

expecting that the business will shine. Later on when the business is going on well we will set upthe other outlets in Inrani Beach, Himchari, Ramu, Dulahazara Safari Park. (Cox's Bazar)

DesignThe restaurant which we are planning to set in Laboni Beach is the main branch of the restaurant.

As we are representing our culture to the tourists so we need to make sure the appearance of the

restaurant is Bangladeshi style. Keeping that in mind our restaurant will be like a round hut

shaped building which is made of woods and straw. The restaurant will be above the sea

supported by pillar and connected by a bridge. It should have two doors, one in front and other inback. The window is surrounded round the restaurant. The restaurant will have 30 tables. Each

having 5 seats which makes 150 seats in total. There is no air conditioner inside the restaurant asit is close to the sea. So that gentle breeze can flow. Also there is a small stage inside the

restaurant for the performers who will perform different Bangladeshi songs to entertain the

customers.

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ManagementThere is one manager who will control the activities. He will observe, control, evaluate the

activities inside the restaurant. There is a bookkeeper who will record all the data and activities

that happens inside and outside the restaurant. There are also security guards for securitypurposes.

PersonnelThere will be a receptionist who will receive the customers. There will also be a counter who

will instruct the security guards. Inside the kitchen there will be four chefs, six housekeepers, ten

waiters. Also in this restaurant we planned to make a small stage where the performers

Bangladeshi music to entertain our customers. We have done this keeping our culture in mind.

Marketing Plan

After the Administrative plan has set we now have to plan how we will spread the business topeople. This is the marketing plan section. There are many restaurants around in Coxs Bazar. So

we need to make our plan wisely to last among the competitors. This is how we have planned.

Target MarketWe have targeted the Coxs Bazar. We have planned to set up our business near the tourist spots.

Our first branch is in Laboni Beach. If our business succeeded than we will spread in other areasof Coxs Bazar like Inani Beach, Himchori, Ramu, Dulahzara Safari Park etc. we have targetedthe tourists ourside the country specially, of all age. Our food is available for everyone. The local

and Bangladeshi tourists are also welcomed, but our main priority is the tourists outside the

country.

CompetitorsAround the sea beach there are many restaurants and hotels. Some of them are famous. So it

might get pretty tough for us as a new restaurant. There are many competitors for our restaurant.

But to be specific, our main competitors are- Poushee Restaurant, Mermaid Caf, JhaubonRestaurant, Koyla, EFC (Elite Food Corner).

Competitive advantagesWe only serve traditional Bangladeshi food, this is our competitive advantage. Otherwiseconsidering our architectural structure and design we represent the Bangladeshi culture which is

unique and different than others. So we also have advantage over our outlook of the restaurant.

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MarketingWe are targeting the tourists and local people. Specially attracting the local people for tourism

purpose is our main focus. The customers can come to our restaurant when its open. They canhave seat in the restaurant beside the sea and relax hearing the sea sound. There are variety of

food items. The customers can have any of those. Our traditional food is a special attraction for

the tourists. So only for the tourists we provide home delivery service. They can give ordercoming to our restaurant or can visit our website and order food there. Our website is:

http://www.overseafood.com

The restaurant is open from 9am to 10pm. We dont provide night parties. So no drinkingavailable. The restaurant is alcohol free restaurant.

PricingOur sale depends mostly on the price of the items. It is the item price which attracts customers.

As we are running a restaurant so pricing is a big factor for us. Also as we are having many

competitors, so we need to think wisely before we fix the price for each items. Here are prices of

few items which are reasonable and quite less compared with other local restaurants:

Items Price(tk.) Items Price (tk.)

Bangladeshi dish1. Biryani

2. Khichuri

3. Kabab & Luchi4. Fuchka

5. Chotpoti

6. Pitha

7. Khir

180150

130

10080

70

90

Sweet and deserts1. Doi2. Shemai3. Jorda

Beverages1. Tea

2. Borhani

3. Coffee

6560

80

3050

35

AdvertisingWe have started a new business so advertising is a big fact for us. As it is a new restaurant so

most people will not know about our restaurant. We need to make them know about us.Considering this advertising is very important for us. We have planned for many ways for our

advertising.

Local Newspaper: our target market is in Coxs Bazar. So mostly the local people and thetourists will come to our restaurant. So it is very important that we make the local people know

about our restaurant. On this purpose we should publish advertise into local newspapers about

our launching.

http://www.overseafood.com/http://www.overseafood.com/http://www.overseafood.com/

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Social Media: it has become a major source of advertising. Facebook (Oversea Restaurant,2012) can play a vital role in our advertising. We will create a page based on our restaurant andsend requests to people. Also we can publish advertisement about our product online.

E-mail: we can send email notifying them about our restaurant via e-mail. It can play a great rolein our advertising.

Leaflets: we can print leaflets adding the items and their prices there and spread them around theCoxs Bazar area. It can also work well for us.

Events: we can organize events and sponsor our products in show to launch our product. We canprovide discount coupons also.

Billboard: if we gain enough revenue than we call add billboard in Coxs Bazar to advertise ourproduct.

Financial Plan

To start any business we need to estimate the value of the business. This defines weather the

business is good enough to perform. We have planned our cost and revenue for the restaurant.Which is:

COST

Investments TK.Location cost... 150,000

Equipment cost.. 60,000

Decoration cost..... 70,000

Advertising cost 80,000

Fixed Costs

Employee Salary(in total)..... 1,20,000

Repair & Maintenance Cost .... 40,000Variable Costs

Ingredients and others... 70,000

Total 6,90,000

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REVENUE

TK.Sales ( 200 X tk.150X1 month ) 9,00,000

Cost of goods sold 1,50,000

Gross Profit 7,75,000

Expenses 6,90,000

Net Income 85,000

This is the statement for 1 month. Here, we can see that the total cost has come tk. 6, 90,000includint investments, fixed costs and variable costs. If we consider that we will have 200

customers per day and each having at least 150tk food item than in one month our sales will be

9, 00,000tk. Suppose we think our Costs of goods sold is 1, 50,000tk. Than our gross profit

comes 6, 75,000 tk. From this if we deduct the expenses than our net income comes about85, 000tk per month. If the business runs like this and improves than within 1-2 years we will be

able to gain enough revenue to set up new outlets for other places of Coxs Bazar.

SWOT Analysis

It combines the strength, weakness, opportunities and threats of a company. Looking at theSWOT analysis we can predict the companys situation. In our case we found:

Strength1. Ensure good food

2. Reasonable price

3. Customer driven service.

4. Also provide other type of food for different diet.

Opportunities1. We can turn the store to be one of the most satisfying place.

2. A new Brand of food may hit into the mass people.3. An opportunity of obtaining a high profit in near future.

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Weakness1. Limited target market.

2. Limited segmentation.3. Introducing a brand name which is not known by the people

Threats1. Battling with the competitors may threat the whole plan.

2. Providing the high service may also cause high cost.

Environmental Strategies:

All the businesses related to tourism are very much attached to the environment. Preserving theenvironment or having some sort of environmental strategy will help the businesses to sustain in

the long run. We have taken necessary steps in this case.

1. Solar System: our cooking is based on solar cooking. Gas can harm the environment andour natural resources can also be wasted. So keeping that in mind we practice solar

cooking.

2. Food quantity: it is true that all the food that we produce is not sold. Some of those arewasted. So we produce a fixed quantity food every day. Also the food is prepared after

the order has been taken. So that extra food is not produced.

3. Source Reduction: It means that we will try to reduce and make the package of food asthin as possible. So that the packages wont create mass waste.

4. Composting waste: if any of the food is wasted or not used properly than we compositethe foods and from that we create bio-gas for the trees.

5. Natural Air: we dont use Air Conditioner. as our restaurant is over the sea so we can getair all the time. A/C causes the release of CFC gas which can be harmful to environment.

Conclusion

Our food has our own taste. It represents our culture. If we can hold on our restaurant to the

outsiders than we are actually holding our culture towards them. So it is a big responsibility for

us. The tourists who comes from outside wish to get a taste of our own culture. Our restaurantonly serves traditional Bangladeshi food. This is our competitive advantage because no

restaurant around Coxs Bazar provides such facilities. Its good news for us. If we try hard than

we might become tourist favorite restaurant. This business will run well because we are

representing the Bangladeshi food for the first time. If we get enough revenue than we hope tospread few other outlets of our restaurant around Coxs bazar so that people can get to know

about our restaurant and on the other hand get to know about our food habit.

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Bibliography

Oversea Restaurant. (2012, february 26). Retrieved october 21, 2011, from facebook:

http://www.facebook.com/overseafood

Cox's Bazar. (n.d.). Retrieved from Wikipedia: http://en.wikipedia.org/wiki/Cox's_BazarCox's Bazar Restaurants. (n.d.). Retrieved from Tripadvisor:

http://www.tripadvisor.com/Restaurants-g667467-Cox_s_Bazar_Chittagong.html