BUS251 Project

North South University

Prepared by Tahmid Islam Sadat 1030316530 Section-6

Prepaared for Taufique Hossain (TMT)

OVER SEA RESTAURANT

Contents
Letter of Transmittal ....................................................................................................................... 4 Acknowledgement .......................................................................................................................... 5 Executive Summary ........................................................................................................................ 6 Mission............................................................................................................................................ 7 Goal ................................................................................................................................................. 7 Financial Goals: ...................................................................................................................... 7 Non-financial goals: ................................................................................................................ 7 The Organizational Plan ................................................................................................................. 8 Products and Services ............................................................................................................. 8 Administrative Plan ................................................................................................................ 8 Marketing Plan ................................................................................................................................ 9 Target Market.......................................................................................................................... 9 Competitors ............................................................................................................................. 9 Competitive advantages .......................................................................................................... 9 Marketing .............................................................................................................................. 10 Pricing ................................................................................................................................... 10 Advertising ............................................................................................................................ 10 Financial Plan................................................................................................................................ 11 COST .................................................................................................................................... 11 REVENUE ............................................................................................................................ 12 SWOT Analysis ............................................................................................................................ 12 Strength ................................................................................................................................. 12 Opportunities......................................................................................................................... 12 Weakness .............................................................................................................................. 13 Threats................................................................................................................................... 13 Environmental Strategies: ............................................................................................................. 13 Conclusion .................................................................................................................................... 13 Bibliography ................................................................................................................................. 14

Letter of Transmittal
July 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

Acknowledgement
First of all, I thank Taufique Hossain, our respected faculty and course instructor, for allowing us to 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.

THANK YOU ALL

Executive Summary
Over Sea company Bangladesh is planning to launch a new restaurant named as oversea restaurant in a Coxs Bazar. In spite of the ascendancy of Poushee Restaurant, Mermaid Caf, Jhaubon Restaurant, Koyla, Hridoi Hut, EFC (Elite 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 for Over 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 Restaurant was to analyze 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 cashflow from the sales of the products.

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 manufacturing capabilities. 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.

The Organizational Plan

Over sea restaurant is a Bangladeshi style restaurant. It serves traditional Bangladeshi food. Our goal 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 a part 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 the tourists. 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 up the other outlets in Inrani Beach, Himchari, Ramu, Dulahazara Safari Park. (Cox's Bazar) Design The 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 in back. 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 as it 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.

Management There 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 security purposes.

Personnel There 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 to people. 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 Market We 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 areas of Coxs Bazar like Inani Beach, Himchori, Ramu, Dulahzara Safari Park etc. we have targeted the 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. Competitors Around 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, Jhaubon Restaurant, Koyla, EFC (Elite Food Corner). Competitive advantages We only serve traditional Bangladeshi food, this is our competitive advantage. Otherwise considering 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.

Marketing We 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 can have 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 order coming 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 drinking available. The restaurant is alcohol free restaurant.

Pricing Our 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 Bangladeshi dish 1. Biryani 2. Khichuri 3. Kabab & Luchi 4. Fuchka 5. Chotpoti 6. Pitha 7. Khir

Price(tk.) 180 150 130 100 80 70 90

Items Sweet and deserts 1. Doi 2. Shemai 3. Jorda Beverages 1. Tea 2. Borhani 3. Coffee

Price (tk.) 65 60 80 30 50 35

Advertising We 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 the tourists 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.

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 and send 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 role in our advertising. Leaflets: we can print leaflets adding the items and their prices there and spread them around the Coxs 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 can provide discount coupons also. Billboard: if we gain enough revenue than we call add billboard in Coxs Bazar to advertise our product.

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 .... 40,000 Variable Costs Ingredients and others... 70,000 Total 6,90,000

REVENUE TK. 9,00,000 1,50,000 7,75,000 6,90,000 85,000

Sales ( 200 X tk.150 X 1 month ) Cost of goods sold Gross Profit Expenses Net Income

This is the statement for 1 month. Here, we can see that the total cost has come tk. 6, 90,000 includint 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 about 85, 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 the SWOT analysis we can predict the companys situation. In our case we found:

Strength 1. Ensure good food 2. Reasonable price 3. Customer driven service. 4. Also provide other type of food for different diet. Opportunities 1. 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.

Weakness 1. Limited target market. 2. Limited segmentation. 3. Introducing a brand name which is not known by the people Threats 1. 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 the environment 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 and our 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 are wasted. 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 as thin 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 composite the 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 get air 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 restaurant only 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 to spread 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.

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_Bazar Cox's Bazar Restaurants. (n.d.). Retrieved from Tripadvisor: http://www.tripadvisor.com/Restaurants-g667467-Cox_s_Bazar_Chittagong.html