Two Topics for the Business Plan
Topic One
The first idea I will try to evaluate is to establish a restaurant that serves Turkish food. Turkish foods are most popular and most valued all over the world. The most popular menu of Turkish origin in the cuisine. The Turkish cuisine is one of the best world's three renown cuisines. The name of the restaurant will be Turcusine Restaurant. In this restaurant, Turkish cuisine will be the main menu in addition to several foods. I will begin this restaurant in the New York City in a location with multicultural figures such as passengers. The first restaurant will be a model that will be used to build into a chain of Turcusine Restaurants. In an effort to build the best Cuisine restaurant, I will develop a benchmarking process to analyze different similar business. I will develop a data mining and data warehousing procedure from the first restaurant that will assist is the businesses decision making from customers and suppliers. Benchmarking and customer feedback are the most valuable information to building a better restaurant. As an entrepreneur, I will also source consultation from renowned chef institutes and try to readily offer internship opportunities for its students to build on the best modern menu. I am aiming to include all cuisine tastes around the world.
Topic Two:
At this day and age, a business entrepreneur needs to think outside the box. Hookah has remained a tradition for many people from Europe. People who like this smoking experience want to find it in every corner of the world they tour. This business will be called Hookah Spot Restaurants. Not only is Hookah consumption a culture but people feel satisfied with every activity they are doing when they know they will served their favorite and flavored smoke. Even though electronic cigarettes are replacing the some of the sumptuous traditional smoke, hookah still remain a traditional that many people still wants to remain with. Therefore, establishing a Hookah Lounge Restaurant will be a great business idea especially in tourist attraction hot spots and multinational/multicultural platforms. This restaurant will supply customers with a variety of traditional hookah pipes, premium tobacco, music, Wi-Fi, personal space, supplying bean bag, variety of traditional Turkish tea and a cool place to chill out as an individual or as a small group. New York City will be the beginning place to set this breakfast restaurant. After completing a pilot survey on the best place to set the restaurant, interstate bus stations and terminal are the best place to put this business because these places are likely to experience a high influx and out flux of the people of European origin who will offer the target customers. Six months in business, customer response and feedback will dictate whether it could be profitable to open a chain of Hookah Spot Restaurants to other State Cities.
Part 1-
Directions: Answer the questions below about why you are proposing one of your two topics for your Management Capstone.
1. What is the topic you are choosing for your final Management Capstone?
Business plan: Algerian restaurant
2. Why are you choosing this topic over your other topic?
First because it's something that doesn't exist in Boston, it would be a unique project and second it's related to my major.
3. What do you want your audience to know about this topic (that you've discovered thus far)?
I would love the audience to know more about the Algerian's culture, food, music. Moreover, doing a business plan, would help me in future to open an actual restaurant. I would be inform about the American laws and the process to open a business in the US.
4. What do you think you might discover about this topic (after doing more research)?
I may discover the differential of laws and papers in the US comparing to my country or maybe I would be surprise by the customers' needs in the US as well. Since the culture is different, I feel it would be a big change for me to do this project.
Part 2-
Directions: Add a sentence or two about each section provided below.
1. Briefly describe your mission statement:
Our mission statement: "First impression and customer satisfaction with nutritious and memorable cuisine."
We decided on this mission statement because we appreciate the first impression we make to people. Food is a lifetime topic. Everybody is always proud of their cultural cuisine. If we develop a menu and prepare famous cuisine for different cultures across the world, we will be representing a large population. We want diverse customers to be satisfied by first satisfying them with the first impression in the restaurant. We have analyzed out competitors layout and discovered that, they are concerned with serving fast food. We have are going a different mile by demonstrating that cuisine is not the kind of food to be served as fast food. This one needs a comfortable and relaxed serving position.
2. Briefly describe your company goals. Remember goals are achievable. Objectives are ways you'll know are reaching these goals. (For example: If you are opening a grocery store, perhaps a few of your goals will be to be the most popular grocery store in the area, provide weekly sales to customers, connect with the network of local distributors to offer local choices instead of national choices, etc).
• Create the most comfortable restaurant for cuisine
• Be the first restaurant in New York to serve the highest number of cuisine varieties
• Create a chain of Turcusine restaurants in all tourist hot spots in New York
• Identify the most reliable the ingredient supplier for preparing common cuisine food
3. Briefly describe the objectives for these goals (how will you know when you've achieved them or are getting close?)
• Create custom serving area and provide custom sitting facilities and serving space area.
• Establish 2 cuisine meals from five different continents each. In total establish 10 different cuisine varieties.
• Establish 5 Turcuisine stores in New York alone
• Use matrix approach to identify 2 most reliable ingredient suppliers and establish a one year renewable contract.
4. Why have you chosen these goals and how do they serve your customer? Use this information to outline your company's values.
The value of Turcuisine restaurant is centered in cultural appreciation. Many customers visit New York but do not get the restaurant that serves a variety of cuisine. With this restaurant, customers will get opportunity for appreciating their culture in New York and also get an opportunity to sample other culture's cuisine from other continents. Cuisine will also be served with cultural utensils. A comfortable sitting environment will accompany cuisine serving to signify the nature of smooth cultures. The following values will be used for Turcuisine restaurant:
• Enhance cultural appreciation for all potential customers
• Develop customer satisfaction through providing custom services
• Use market opportunities to expand services to reach wide potential customers and increase convenient
• Use available resources to create cost - effectiveness in the business.
• Observe food handling ethics; ensure hygiene and healthy food meals.
5. Where do you see your company in five or ten years? Use this section to provide information on your company's vision.
Turcuisine restaurant utilize a five year multistage plan. In five years time, the restaurant should have laid down the foundation to move to the next five year. The foundation is a considerable satisfaction of 50% goals and more than 50% objective. In five years time, the SWOT matrix for the restaurant will determine the best strategies to use to draw an update of objectives and goals to for the preceding five years.
Part 3-
Directions: Add a sentence or two about each section provided below. Use this outline during your peer reviews to help provide information about your topic.
Business Overview
Turcuisine restaurant is new in New York. It was introduced in the first quarter of 2015 to accommodate the growing need of cuisine meals especially in a multicultural setting. With guaranteed delivery system Turcuisine services are becoming popular
Products and Services
The main menu in Turcuisine restaurant is Turkish cuisine. However, cuisines from all global continents are served. The varieties of cuisines are served with cultural utensils to preserve the cuisine culture.
Marketing
Customers
Turcuisine belong to all age group but the restaurant targets adults who are likely to be specific on the type of cuisine they want served. The restaurant targets tourists and local people from a multicultural background.
Competition
Competition is stiff in the industry because other restaurants are already serving Turkish cuisine. However, beating the competition is expected to be simple because this restaurant is development a custom cuisine from each continent and no restaurant in New York is specializing in that.
Marketing Plan
The marketing plan for this restaurant will utilize the online platform and strategic adverts in the local dailies. Since this restaurant targets tourists, advertisement space will be bought in the platforms that offer guide to those visiting New York City.
Operations
Organizational Structure
Turcuisine restaurant utilizes a stratified organizational structure. The president will hold the highest office. The human resources and the head chef will report to the president. While the operation offices will report to the head chef.
Pricing
Turcuisine pricing will be developed from consideration of extra services such as snacks and comfortable dining place rather than counting on the price of supplies alone. Therefore, the price in this restaurant is expected to be high than normal.
Proposed Location
The first Turcuisine restaurant will open in New York City with a strategic serene easily accessible location. Depending on response, the company will try searching for space in entry and exit points such as multicultural stages.
Financial Plan
Turcuisine restaurant will utilize equity financing to avoid liability that comes with other financial methods. The company will also consider franchising in its first year of business.