BUSINESS & MARKETING PLAN

Business & Marketing Plan for “Buon Apetito Restaurant and Bar”

Introduction1

Overview1

Business Summary1

Aims and Objectives of Business2

Market Research2

Market Overview2

Competitor Analysis3

Environmental Analysis4

Suppliers Overview4

Marketing Strategy4

Target Market4

Marketing and Advertising Strategy5

Products and Services offered5

Pricing strategy6

Advertising and Promotion Strategy6

Operational Strategy7

Management of the Restaurant7

Staff Requirements8

Premises of the Restaurant8

Regulations of the Restaurant9

Anticipated Future9

Conclusion9

References10

Business & Marketing Plan for “Buon Apetito Restaurant and Bar”

Introduction

A business and accompanying marketing plan is an outline for any business or organisation whether large or small. It serves as an important source of guidance for any organisation or business and is therefore of great help for the businesses. This report aims to draft a business and accompanying marketing plan for “Buon Apetito Restaurant and Bar” which specializes in Lithuanian, Latvian and Estonian foods. The restaurant also comprises a bar, which offers bear, wine and liquor thus adding to the taste of the food.

Overview

Business Summary

“Buon Apetito Restaurant and Bar” is a small restaurant accompanied with a bar. The restaurant specialises in a combination of Lithuanian, Latvian and Estonian foods and the bar offers a diverse range of good quality drinks. The restaurant offers a great number of soups, starters, appetizers, and food of Lithuanian, Latvian and Estonian style. The restaurant specializes in these Baltic cuisines and the accompanying bar adds to the attraction of the restaurant by making it a complete place offering the complete deal.

“Buon Apetito Restaurant and Bar” has a casual attire which gives a cool place for relaxation and easy eating to the customers. The restaurant offers lunch and dinner meals. Take away and table services are available at the place. The bar accompanying the restaurant offers different brands of beer, wine and liquor.

Aims and Objectives of Business

The vision and objective of “Buon Apetito Restaurant and Bar” is to be the source of the best Lithuanian, Latvian and Estonian foods at a reasonable price with exceptional quality and taste. The purpose behind including a bar with the restaurant, the business aims to increase its profit margin in addition to attracting a larger customer base. The long term objective of the business is to expand its operations and scale of the business covering different markets and customer segments. The business also aims to have a positive profit in the first year of its operation.

Market Research

An organisation must discern the business and the market in which it operates and the prevailing present and future trends in order to function successfully in the market (Bangs, 2002, pp.02-05). The market analysis for “Buon Apetito Restaurant and Bar” is provided in this section.

Market Overview

Hospitality industry is known for its attractive market. It has always been a thriving and flourishing industry. This acts as a great opportunity for the restaurants as well as bars owing to the large market it entails. Since “Buon Apetito Restaurant and Bar” deals and specializes in a particular variety of food, the market is reduced to some extent; however, there are a large number of customers who favours the tasty and spicy Lithuanian, Latvian and Estonian ...