We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Check Writers' Offers

What's Your Topic?

Hire a Professional Writer Now

The input space is limited by 250 symbols

What's Your Deadline?

Choose 3 Hours or More.
Back
2/4 steps

How Many Pages?

Back
3/4 steps

Sign Up and Get Writers' Offers

"You must agree to out terms of services and privacy policy"
Back
Get Offer

Business Plan

Paper type: Essay
Pages: 5 (1249 words)
Categories: Bus, Business, Food
Downloads: 50
Views: 14

Business Plan

Healthy First Restaurant

Khanjanben Patel

King graduate school, Monroe College

MG 800-101 Strategic Management

October 30, 2019

Executive summary:

Healthy first was established as a sole proprietorship restaurant at Jackson Heights Queens, NY 11372 with a future goal of expansion in Restaurant Industry in the United States.

It is a centralized company which contends in the inexpensive food industry providing vegetable sandwiches, vegetable kathi roll and other vegetable items. Healthy first used an extraordinary quick venture into core area with targeted population.

It uses three essential techniques, diversifying, the organization claimed restaurants and joint endeavors. With most of the vegetarian restaurants originating from diversifying understandings, Healthy first’s administration depends on this technique to help in the acknowledgment of another style of eating into new markets. With insignificant hazard and greatest increases, diversifying keeps on contributing intensely to Healthy first’s success in Queens, NY. With an ethnocentric administration procedure, McDonald’s depends on household-based rationale and frames of mind and moves them to their universal outlets and restaurants.

So as to control its activity in Queens, Healthy first’s uses a blend of two approaches. Most of the control would fall under the principles approach, implying that control lies with central station making methods and strategies for the backups to pursue. In any case, there is likewise a tad bit of the social methodology that has surfaced and is being used making a decision by the adjustment that has happened in a portion of the restaurants. This has happened even with tight disguised standards that are continually exhibited and implemented by headquarter.

[2.1] Vision Statement:

To move with speed to drive gainful development and become a far superior cutting edge, dynamic organization conveying a contemporary client experience and to serve more customers with delectable food every day around the Queens.

[2.2] Mission Statement:

A preferred spot for vegetarian food for our customers. Our overall tasks are adjusted around a worldwide methodology called the plan to win, which focuses on an excellent client experience- people, product, place, price and promotion. We are focused on consistently improving our activities and upgrading our customers’ involvement.

[2.3] Value Proposition Statement:

Focused mainly on people which are vegetarian and center of the company which helps in improving company consistently.

[2.4] Company Description:

The restaurant was found on May 2019 as a sole proprietorship under the New York State laws and headed by Khanjanben Patel. The restaurant serves a locally applicable menu of vegetarian food and beverages at different prices. The company’s sections incorporate U.S, International lead markets, high growth markets and foundational markets and corporate. Healthy first’s diversified restaurant works under different structure including traditional establishment, formative permit or subsidiary. Healthy firsts’ high growth markets are centered on making client energy through the menu, advancements and computerized techniques with explicit portable arrangements and activities. The foundational markets and the corporate fragment are occupied with working restaurants and expanding comfort to clients, including through drive through option.

[3.1] Five force model:

(1) threat of new entrants: New contestants in restaurants bring advancement, better approaches for getting things done and put pressure on Healthy firsts’ corporation through lower evaluating procedure, decreasing expenses and giving new offers to the clients. Healthy first’s corporation needs to deal with these difficulties and fabricate powerful obstructions to shield its focused edge. Healthy first tackle this by improving current items in menu and administrations. New items attract new customers and motivate old customers to come back again and again to purchase Healthy first’s items.

(2) Bargaining power of suppliers: All most every one of the organizations in the restaurant business purchases their crude material from various providers. Providers in prevailing position can diminish the edges Healthy first’s corporation can acquire in the market. The general effect of higher bargaining power is that it brings down the general productivity of restaurants. Healthy first handle this by building a productive store network with numerous providers.

(3) Bargaining power of buyers: Customers are regularly demanding parcel for food items. They ask to purchase the best item by paying the affordable cost. This put weight on Healthy first’s corporations’ gainfulness over long haul. Healthy first can handle this by improving food quality and items.

(4) Threats of substitutes: the risk of a substitute item or administration is high on the off chance that it offers an incentive that is particularly not the same as present contributions of the business. Healthy first can handle this by being administration situated instead of just item arranged and by understanding the customer buying behavior.

(5) Rivalry between existing competitors: Healthy first’s corporation works in an exceptionally aggressive restaurant industry. This challenge takes a toll on the general long-haul gainfulness of the restaurant association. Healthy first can handle this by building scale with the goal which is better quality of food with reasonable price.

[3.2] PESTEL Analysis:

-Political factors: this part of PESTEL analysis impacts an administrative activities and arrangements on the remote condition of Healthy first’s fact and overall economy. For healthy first’s situation, the political component is legislative rules for diet and wellbeing and general wellbeing strategies.

-Economical factors: this relates to the impacts of monetary conditions and patterns on the remote or large-scale condition of healthy firsts. The worldwide economy and territorial economy impact healthy firsts’ business.

– social factors: Social factors like customers retention and income of customers affects business of healthy firsts’ business.

– Technological factors: The healthy first organization needs to address the below variables like R&D in the current business and expanding business through cell phones using technology.

– Environmental factors: Go with green concept for management of litter and other waste from restaurant is very important. Healthy first follows rules for that.

-Legitimate factors: Expanding wellbeing guidelines in working environment and schools.

[3.3] Strategic group mapping:

Numbers of employees:

High: Raj bhog sweets and snacks corner

KFC

Low: Subway

[3.4] Benchmarking of Healthy firsts’ vs Rajbhog

Benchmarking is the nonstop procedures of correlation of procedures, items and administrations over those organizations who shares common business values.

[1] Marketing strategies:

Healthy first applies the focused system in all over the Queens. Its aim is to enter the market as fast as possible through high promotion. The organization attempts to separate their items and administration by making extraordinary attributes that are seen as significant by clients.

[2] Marketing Mix:

[A] Product: The product range in healthy first includes vegetable sandwiches, kathi rolls, beans salads and various fruits and vegetable juices.

[B] Price: Healthy first utilizes financial evaluation through the advancements offered an excellent item with low cost to its customers.

[C] Place: Healthy firsts’ items came in little groups each week from stockpile focuses.

[D] Target market: the target clients of healthy first are between 14 to 60 years of age.

[E] Communication: Healthy first uses a specialized device for their items, publication and advancements. The publishing efforts of healthy first are through TV and social media like Facebook or Instagram.

[4] SMART GOALS:

[A] Specific: piece of the overall industry goals- market can offer a predefined timeframe if target is set precisely

[B] Measurable: Expanding benefits. The objective is to build benefits of products.

[C] Achievable: Development- business destinations may state development by 15% year on year for following 5 years.

[D] Relevant: overcome the current hurdles and try to be more productive

[E] Time based: Expanding brand mindfulness over the timeframe

[5] Competition Analysis: Healthy first has number of competitors which are looking for the same common goal from food market. Healthy first needs to create focused procedures to separate themselves from their rivals. Rajbhog, KFC and Delhi heights are competitors of the healthy first. Healthy first has to follow some strategies which includes development and understand their customers buying behavior to withstand in the very competitive market in restaurant industry in Queens area.

Cite this essay

Business Plan. (2019, Nov 28). Retrieved from https://studymoose.com/business-plan-573-example-essay

How to Avoid Plagiarism
  • Use multiple resourses when assembling your essay
  • Use Plagiarism Checker to double check your essay
  • Get help from professional writers when not sure you can do it yourself
  • Do not copy and paste free to download essays
Get plagiarism free essay

Not Finding What You Need?

Search for essay samples now

image

Your Answer is very helpful for Us
Thank you a lot!