Business Plan - Capital Resource Plan
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This business plan has been developed to respond to the fact that in the recent past people are embracing the idea of taking vegetables and fruits as salads as one of the healthiest ,simple, light meal’s (Hwang, Glass & Molter, J, 1999), especially during lunch breaks or before a major meal rather than heavy meals, as a result people have embraced the idea of either preparing some and carrying it with them to either work or college, this idea backed up by nutritionists whose advice is that people should be eating alot vegetables than meat (Hwang, Glass & Molter, J, 1999), With this in mind, the plan will use the basic concepts of starting up a high standard salad restaurant.
The business plan is going to help the investors identify business requirements, understand about expected competition, create a management structure and predict business profitability (Schneider, 1998). It lists how the company expects to achieve its objectives as well as identify the issues and challenges that it anticipates to encounter in the expansion phase. The plan will notify the investors on what needs to be done in order to develop and/or maintain the market position it will take upon set up. With the company overview first stating the objectives in detail and its practicality and secondly stating the products and services that the business is going to offer and provide. Thirdly, market analysis and competition should be conducted probably using SWOT analysis.
Project plan is duped “Altons salads”. The restaurant will be opened in Park Road in the United Kingdom. It’s estimated to cost approximately two hundred thousand dollars (£110,000) with the purchase of classic bistro chairs and tables estimated to cost £13250, 8 freezers and 6 fridges costing about £800 each , 30 stainless steel kitchen tables also to cost £70 each, with £3000 for cutlery and other equipments all this can be obtained from café reality stores with an additional £1800 for three display counters and some £17000 at an average location and £50000 at high streets like Brick lane for acquiring the premises per annum for a 50-80 sitting capacity along , and any start up financial requirements estimated to cost about £20000. Since the restaurant will serve fresh, green, contemporary, and readily prepared food.
Business Goals and development strategy
Within the first year of operation the company plans to serve over 53,000 customers with a seating capacity of 30 seats and a turnover rate of a 12 hours working hours. The restaurant will serve the urban white-collar workers, students and even foreigners. In the subsequent second the restaurant plans to increase its customer base to 68,500, with the third year expanding its wings to cover almost all areas around universities and colleges within Oxford and increasing the working hours.
A restaurant involves complying with both local and federal regulations, since the food industry can place customer and employer’s health at risk if the food is not handled safely(Smathers, 2012), making the local health departments put strict regulatory orders to govern their operations. New restaurants should set up kitchens and how the food being prepared is processed as stipulated in the law, with stainless steel sinks for preparing vegetables and a three compartment sink washing dishes and another for a mob, together with the freezers and fridges being capable of cooling foods quickly. Since zoning is used to regulate developments they also should be followed with the premises required to have proper ventilation systems, and your restaurant will require to comply with construction related regulations like permitting and building a ventilation system and a fire suppression system. Your restaurant will also be required to collect sales tax from customers and remitting them to state and local revenue authorities (Brook, 2009).
With the franchise industry on its upswing (Lee, 2008), green and healthy food will surely take shape of the future food industry across the globe, with Altons Salads striking the market with its unique product it’s expected to capture a fair market share thus gaining popularity across Oxford.