Essay
Business Level 3 Unit 19 Assignment 2 (template part)
- Institution
- PEARSON (PEARSON)
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By: MissDistinction18 • 2 year ago
This work has been marked by West Hets College and Pearson. Both have marked this work at a Distinction level.
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BUSINESS NAME: KazKitchens
BUSINESS PLAN:
Business address line 1: 2 Strutton Ground
Address line 2: Westminster
City: London
Postcode: SW1P 2HP
Phone: 07856357452
Email: KAZ@gmail.com
, EXECUTIVE SUMMARY
The name of the business is Kaz Kitchens with a legal status of partnership,
meaning that the business is owned by the 3 partners Zoe Arnold, Callum King,
Amy Riley in equal shares. It will be a micro pub/restaurant located in the heart
of London, SW1 2HP. The aim of the business will be to achieve forecasted sales
within 12 months as set out in the sales forecast and brand/location expansion to
two or more venues either internally or by franchising after 3 years.
The business will operate a pub/restaurant venue within the food and beverage
retail market offering alcohol and non-alcohol beverages (including craft beers
and cocktails), traditional foods with an emphasis on varied vegetarian and
vegan options. Products sold by the business will initially be sold with a
penetrative pricing strategy in order to entice customers into the new venue
e.g., cocktails will be priced at 10.50 whereas those of our competitors are priced
between 12-14 pounds.
Competitors are almost exclusively larger PLC’s operating through a number of
chain-based smaller outlets having being inexistence for many years. Kaz
Kitchens aims to gain market shares from these competitors by providing new
and innovative food and drink choices to a younger customer base, based on
excellent customer service while maintaining some of the traditional products
offered by competitors. Our target market being based in the heart of London is
younger 18–35-year-olds, office workers, and the more family orientated tourist
segments of the market. In the first year the sales forecast projects sales of
approximately 183,000 pounds. It is forecast in the cash flow statement that this
will cover the major expense of equipment within the first year as well as all
other operating expenses as they arise and generate enough income to repay
one third of investor loans.
The people involved in the business apart from the stakeholders (partners and
investors) will be those involved in the day to day running of the venue as set
out in the people section of this plan which consists of 4 people; a manager,
supervisor, chef, and team member all of whom have relevant previous
experience in their job roles.
The level of investment required for the business will be 50,000 from the
owners in equal shares and 30,000 from investors, totalling in 80,000 pounds.
Although this will wholly be utilised by set up costs the cashflow statement for
the first year clearly envisages repayment of those costs within the first year.
And repayment of investors within the first 2 years. Key to the success of the
business is making forecast sales within the first year and to increase those sales
at the projected levels in years 2 and 3.
2
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