Business Planning (Spanish Restaurant) Essay Example | Topics and Well Written Essays - 7250 words

Business Planning (Spanish Restaurant) - Essay Example The key for gaining success for ALJARAFE restaurant in the market of the UK will be to provide unique as well as contemporary dining experience, to control the expenses and to concentrate of employee retention. Through proper planning, ALJARAFE restaurant will also aim to create an atmosphere where every employee will be satisfied to work and thus, will render greater contribution towards delivering high quality products and services to the ultimate customers. Focusing on this aspect, the report presents a comprehensive business plan including the description of the business, product as well as service offerings, industry analysis, market segmentation, marketing plan, operation plan and key financial requirements as well as projections. With respect to consumer market, the restaurant segment of UK is considered as the fourth biggest segment. It has often been argued that the foodservice segment of the UK is complicated in comparison to grocery retail segment. In accordance with the study of United States Department of Agriculture, the UK’s foodservice segment is divided into two separate dimensions which are ‘profit stores’ and ‘cost stores’. In profit stores, profit acts as the key motivator of business, and thus, pricing of products and services becomes flexible. This type of business approaches can be identified in restaurants, pubs and hotels. On the other hand, in cost stores, prices of products and services are controlled to avail quality goods at lower product cost. This type of businesses can be found in educational institutions, prisons and hospitals. In the UK, restaurants are the most prevalent in foodservice industry. There are numerous independent players which dominate the restaurant segment in the UK. Illustratively, in the year 2004, about 90% of restaurants were signified as independent restaurants (Agriculture & Agri-food Canada, 2011). 2.1 ALJARAFE Restaurant’s Relative Position ALJARAFE restaurant is a proposed restaurant business which will be located in Manchester city, UK. ALJARAFE restaurant will aspire towards being established as a remarkable, fresh and causal Spanish restaurant which will provide variety of food menu with particular appeal to Spanish fragrances. While maintaining rigid principle towards profit generation, the restaurant will also aim to create a notable and rich eating experience for the customers. The legal form of the business would be based on a sole proprietorship model. This legal standing has been selected because it is the