Unit-36 (Starting a small Business)***Distinction level assignment*** (all P’s, M’s & D’s)
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Unit 36 - Starting a Small Business
Institución
PEARSON (PEARSON)
("Distinction level assignment"), this assignment is the full assignment for this unit as in it’s the complete assignment (all P’s, M’s & D’s)and I have completed this unit only a few months back and it is the latest version of the assignment after all the latest syllabus changes. It's an ...
Unit 36- starting a small business for Level 3, BTEC Nationals
(Business).
,P1
Introduction:
Starting a business and owning it can be a rather challenging task in an age
where majority of them revolve around simplicity but are operating in an
environment that is unstable, however today, you can implement various
different business strategies that are available out there in order to ensure
that your business is unique and distinct from the rest of the businesses in
the market so that it stands out on its own from the rest and is a successful
business in their own unique manner. One major issue faced by almost all
start-ups (a new business) would be the fact that they don’t really take into
consideration and analyse all of the various expenses and costs that are
involved when starting a new food business, moreover, if the business
doesn’t calculate the costs correctly, they would be hit by financial issues
instantly and this would cause a lot of internal in the issues within the
business, resulting in the instability of the business. Throughout the
following essay, I will break down all the processes that take place when
starting a new business, starting from aspects like investments, to the
expenses that are required in order to run the business in a successful way
on a day-to-day basis, aspects like legal issues, projected sales and various
other vital and crucial financial elements as well as non-financial elements of
running a steakhouse business that’s speciality is to serve authentic Texas
style steak burgers.
The name of my business: Texas steak burgers (TSB). Throughout this
essay, I will be addressing my business by its abbreviation which is (TSB).
The location of my business: Yas beach, Yas Island, Abu Dhabi, United Arab
Emirates.
Type of business:
I will open a small steak sandwich shop business that’s specialty is to serve
authentic Texas style steak burgers in right way that their supposed to
be served, moreover, customers can choose from a variety of side dishes
that would be served as a part of the main steak burger meal. I will be
running the restaurant as a sole trader which means that all of the profits
would come to me only but it would also be difficult for me to manage it as I
would be the only one and wouldn’t get help like if I was in a partnership
business. TSB will get shipments of raw ingredients in limited quantities and
on a day-to-day bases, this is to ensure freshness in all the food that is
served and by the end of the day, make sure that all of it is consumed. To
add to this, the steaks that will be used for the steak burgers will be grilled
only upon request, this means that only when the customer places an order
for it, it would be thrown on the grill at the very same time. This would help
me in maintaining the taste and quality of the food which in turn, would help
me to ensure customer satisfaction at all times. My
small steak burger restaurant business (TSB) will be a business that
wouldn’t need a large investment and moreover, all aspects and factors
,would be calculated correctly to avoid over-spending and in order to be able
to generate higher volumes of sales.
Purpose behind me starting this business:
Spreading happiness to all of my consumers who visit TSB, by ensuring to
serve them a steak burger with a taste what would forever remain in their
mouth and they would come back again to TSB for more without a doubt.
This is my main purpose as to why I am starting TSB. From a long time, I’ve
always had this vision of starting and owning my own business that would
serve food that is delicious and that of a high quality at an affordable price
and I would be able to achieve this if I start cutting down my expenses like ,
the rent I would be paying and upkeep which would come as a part of
owning a restaurant, and also to focus and make sure to spend money and
purchase ingredients that are of high quality in order to insure freshness in
the food that would be served to the customers. The main reason as to why
I am choosing to serve steak burgers as the main course for my steak
shop on yas beach would be due to the fact that, at the moment, there are
many normal burger and sandwich shops on yas beach but there isn’t a
single steak burger shop on yas beach, so I would basically be filling in a
gap. One more reason would be because, the current food trend in the UAE
is that customers order handled dishes which can be consumed in cars with
no hassle involved at all in order to be able to go out and meet friends and
spend quality time with them while bonding over a hot meal. TSB would
offer customers with a quick “grab and go” option as well as a proper seating
area that customers can sit in and enjoy their meal even though the number
of tables and chairs would be limited , it wouldn’t matter because my
target audience would be customers who would tend to opt for the “ garb
and go option”. Customers can order a steak burger while they are in their
cars and a worker would go to the parking lot and give them the food.
Furthermore, this is the main reason as to why I would invest in a bigger
parking lot outside TSB and try to make it as big as possible and at the same
time try to minimize the seating area as much as possible in order to be
more efficient with what I do and eliminate unnecessary costs.
My business plan:
Product:
The main attraction for TSB and the main food item for TSB would be the
steak burgers that would be prepared in the following way: steaks would be
available in various different cuts such as tenderloins, New York
strips, Ribeye’s and T-bones. Because TSB specializes in serving authentic
Texas style steaks, TSB’s signature steak will be the T-bone steak as it is a
very famous steak cut in the state of Texas, USA. The customers would also
have the chance of choosing how they want their steak to be cooked, it
could be medium rare, medium, medium well and lastly well done. Once the
customer has chosen the steak cut and how they want their steak to be
cooked, the steak would be grilled upon request only in order to ensure
, freshness in the food serve as mentioned above. The steak would then be
seasoned with salt, pepper, various steak rubs, some BBQ sauce and mainly
olive oil. Then it would be left to grill in a griller on a high flame in order to
for it to get that smoky BBQ flavor, as the steak is grilling, it would be
brushed with a mixture of butter and cut garlic in order to for the juicy
flavors to seep into the steak which would give the steak a very soft and
juicy texture. Depending on how the customer wants the steak to be cooked,
the steak would be removed from the griller at that particular time in order
to ensure it meets the customers’ requirements, it could be medium rare,
medium, medium well and lastly well done. The steak would be left to cool
down in order for all the juice to balance out equally throughout the steak
and give it an even texture, the steak would then either be topped with the
traditional American honey BBQ sauce or our special in-house secret
mushroom sauce depending on the customer’s choice. Then the last and
final step would be to put some dressing on both sides of the burger buns
and place the steak inside the burger to make it one juicy steak burger. My
product mix will consist of side dishes like mashed potatoes and corn-on the
cob etc., drinks and in-house beverages and condiments will all come as a
part of the main steak burger order in order to provide customers with a
pleasant experience that is pleasure full and also give them the opportunity
to choose from a wider range of food items so that they can satisfy all
of their cravings.
Price:
The pricing strategy which I will use for TSB would be that consumers would
be acquiring highly competitive prices for products which they would be
buying. The fact that, TSB would spend majority of its funds to purchase
ingredients that are of high quality and that are fresh to sell at a location
that is far cheaper compare to a traditional huge dine in restaurant, I will
ensure that the price point for my dishes are all at affordable rates. This will
allow my target consumers to be from middleclass families or perhaps even
lower than that because I will fix the price for my steak burgers to
be AED 35 and all of the side orders would cost between AED 10 – AED
15 and this price would vary depending on the order, for example, a side of
fried rice would cost more than a side of normal fries.
Promotion:
Social media platforms like Instagram, Facebook and twitter would be the
platforms that I will utilize in order to help with the promoting of
TSB because by doing this, the chances of my exact target audience in
recognizing me would significantly increase. To add to this, I would create
and develop my own website that would showcase what goes into the steak
grilling process and how an authentic Texas style steak burger is actually
prepared and TSB, food and beverage menu that would have the price listed
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