BUSINESS PLAN

Business Plan

Business Plan

Business Idea

The business idea is that of launching a fine dining restaurant in Richmond, London. Restaurants play an important role in the communities that they operate in (Baird, N., 2003, p. 1). The location has had many fast food restaurants which have been doing lucrative business in the locality. The restaurant will serve the families of the locality with fine dining cuisines. The restaurant will have a live cooking environment with the customers able to see how the cuisines are prepared. The name of the restaurant will be “Fine Dine at Richmond”. Fine Dine at Richmond will be more than just a food serving restaurant for the customers, it will be an experience that will fulfil the social needs of the customers (Robson, S., n.d).

Idea and justification

The ideation is simple to open a restaurant in London, United Kingdom, for which the founder have only £100,000 (Richter 2007). There is no doubt that there are several other food chains operating in the region, and some of them are considerably well known. Despite of the fact, the purpose to enter in the industry is the unique selling proposition of the restaurant, which would differentiate it from other operating restaurants. The ambiance, cuisine, cutlery and crockery, every aspect of the business would be so unique that it indulges the customer to engage in the true experience of it. One thing is to accept that a food chain is only successful because of its unique task and environment that it provides, despite of the other kinds of products and services.

Our mission

The mission of our entrepreneurial plan will be to provide excellent fine dining experience that will serve to be the best fine dining experience for the citizens residing near the locality of Richmond. The dining atmosphere will be pleasing to the senses of the customers and will provide a live cooking environment that no other fast food restaurant provides in that locality (Cunneen, C., n.d).

Financing of the venture

There can be various sources of financing a restaurant like, Loans, Initial Public Offerings, Private equity, Mezzanine loans, equipment leases, and Hedge funding (RFDC, 2012). The financing of the Fine Dine at Richmond will be undertaken by a group of investors who will invest £100,000 on this business idea in the first year (Richter 2007). After the 3 years period completion successfully, investors of the venture will invest £50,000 in the 4th year. As the Fine Dine at Richmond has forecasted to bring lucrative profit during 2014-2015, investors will more likely to invest £100,000 in the 5th year. Due to which the restaurant business will be invested of total £250,000 in the next five years that will generate more profitability and repay to its venture capitalists (Richter 2007). The amount invested will be used in the purchase of equipments and assets needed for the business idea to be executed.

The restaurant will be more than just a restaurant that serves food; it will serve to be a great fine dining experience for the ...