ENTREPRENEURSHIP

BUSINESS PLAN

SUBMITTED TOProf. Vikas Rajput Entrepreneurship GM 503

SUBMITTED BYARUNIMA DUBEY (PGFA-1210), KRITIKA SETH (PGFA-1230), PRATEEK JAIN (PGFA-1241), SUDIPTA SINGH (PGFA-1256) PGDM General Section-A
JAIPURIA INSTITUTE OF MANAGEMENT, NOIDA

2012-2014

Kings & Queens

Make People Happy, Have Some Fun and Be Number 1! Yours Truly Restaurant. For AM & PM people

My team
Name Prateek Jain Background
M.b.a , Expertise knowledge about different food culture prevailing in India M.b.a , backed by a super designing and fashion knowledge

Expertise
Management & Marketing

Kritika Seth

Management and interior designing knowledge

Brief of Kings and Queens

Seven days a week Hiring of experienced staff Reinvention of taste Located in the booming, and rapidly expanding city of kanpur Inspired menu from different states of india Blend of Italian, Chinese, continental and Indian.

vision
Great tasting food, but have efficient and friendly service Choice for all families and singles, young and old, male or female Become the trend setter in taste Extraordinary dining experience Aim to be the best in the multi cuisine restaurant business

OBJECTIVES
Keeping food cost low.
Keeping employee labor cost satisfactory. Stay in the restaurant business with excellent food and service.

Expand our marketing and advertising in neighboring cities viz. lucknow,allahabad.

KEYS TO SUCCESS
A superb ambience to make people feel wow Unique and innovative fine dining atmosphere

Great food, great service and atmosphere.

Appeal to a masses

Future Plan
If the business is meeting its projections in a year or two then, we will start scouting for a second location and develop plans for the next unit in kanpur only 5 -7 Year Plan 3 restaurants in different parts of the country like Delhi, Agra, Lucknow etc.

Although the restaurant industry is very competitive, the lifestyle changes created by modern living continue to fuel its steady growth.

RESTRAUNT DESCRIPTION
Restraunt ownership: Partnership between Prateek Jain & Kritika Seth Each partner will have a holding of 50% Company location: Located in the posh area of Arya nagar,kanpur Most sought after hangout place for youngsters . The classy shopping arena of arya nagar attracts loads of shopaholic customers which will contribute to the much needed customer base.

LOCATION ANALYSIS
Customer access Nearby business Population Abundance Population growth Economic conditions

ENTREPRENEURSHIP
Formalities & expenses: Registration of the business Licensing Furnishing Electrical Fitting Kitchen and Crockery Insurance Hiring of chefs and crew members Risks & liabilities Not able to break even at the expected time Repayment of loans Unlimited liabilities of the partners.

Strategy And Implementation Summary

Our strategy is simple, we intend to succeed by giving people a combination of excellent and interesting food in an environment that appeals to a wide and varied group of people. We will focus on maintaining quality and establishing a strong identity in our community. We will keep our standards high and execute the concept so that word-of-mouth will be our main marketing force. We will create an appealing and entertaining environment with unbeatable quality at an exceptional price.

Sales Strategy
Words Of Mouth Discount Coupons Free Home Delivery Concentrating on the customer's experience Offer various specialities and entertainment at the weekend for the enjoyment of the masses.

MARKET SEGMENTATION
Businessmen Happy Couples

Families
Trendy teens Tourists

MARKET PENETRATION
Entry into the market should not be a problem. Restaurant has high visibility with heavy foot traffic all day long.

The local residents and students always support new restaurants and the tourists do not have fixed preferences. In addition, Rs.7,00,000 has been budgeted for a pre-opening advertising and public relations campaign.

SERVICE BUSINESS ANALYSIS

The restaurant industry is highly competitive and risky. However, those based on solid understandings of the market needs have a much higher chance of success. Restaurants make money by taking inexpensive ingredients, combining them in creative ways, cooking them properly, and selling them at a much higher price

Competition/Competitive Advantage
Direct Competition Hucka Veranda Treat Advantages Location Multi Cuisine Expert Management Team

Competitive Edge
Kings&Queens will leverage its multi-pronged competitive edge to quickly gain market share. Our competitive edge is the menu, the chef, the environment, the management, the service and our friendly place. The chef has an excellent taste for what fine dining is and requires Our environment is elegant and comfortable and our decor is warm and relaxing.

SWOT ANALYSIS
STRENGHTS First mover advantage Economies of Scale Varieties of food of the cuisine Large number of bachelors/students/IT professionals Catering to a wide range of people No multi cuisine restaurant near the location

WEAKNESSES
High cost of operation Not from a known group

Pricing
Difficulty In obtaining licenses

OPPORTUNITIES
New restaurants in other parts of the city Offer greater variety

High growth of the Hospitality Industry and tourism

Rising standard of living

THREATS
Other concept restaurants People may be restrictive

High attrition rate.

Questionnaire
Based on the questionnaire, following feedback was obtained: People look for customer service most, followed by dcor.

People mind spending more money, even if they are offered quality of service
3/4th of the people surveyed visit a restaurants at least once a week.

Questionnaire
They prefer Indian cuisine the most, followed by Chinese, Italian and others They look forward to new dining experiences given the opportunity While choosing a restaurant, customers are price conscious.

POSSIBLE FINANCING OPTIONS

Entrepreneurs personal resources

Financial institutions

Angel investors

Financing Options

Unusual resources

Venture capitalists

Business development programme

Public offering

BUDGET
Sources Of Funds
Owners Fund = 80,00,000 Loan= Rs.1,20,00,000 @12%p.a. Total investment =2,00,000,000

Application Of Funds
Purchase Of Land = Licensing fee = Interiors&Furnishing = Setting up cost :1)kitchen crockery = 2)Equipments = Promotion = -Newspaper = -Bill Boards = -Radio = -Online promotions = -Others = Insurance = Chef & crew = Prov.for further expansion = Misc exp = Rs.1,00,00,000 Rs 5,00,000 Rs40,00,000 Rs 20,00,000 Rs10,00,000 Rs.7,00,000 Rs.2,00,000 Rs.2,00,000 Rs.1,00,000 Rs.1,00,000 Rs1,00,000 Rs 5,00,000 Rs.2,00,000 Rs.10,00,000 Rs.1,00,000

REVENUES
Total Expected Revenue =Rs.8,40,000 Total Expected Cost =Rs.695700 -Raw Material(20%)=Rs.1,68,000 Electricity=Rs.1,00,000 -Repayment of loan including Interest@12%=Rs.170000 -Maintenance=Rs.20000 Insurance(500000/12)=Rs.41700 -Salaries=Rs.181000 -Misc. Expenses=Rs15000 Total Profit(without taxes)= Rs.144300

1st month 80Customers/day Expected Revenue/customer Rs.350/-

MACHINERIES
Support equipments:
Chimney Air Conditioner Music System Computers Water Filters Softwares for data analysis

Main equipments in kitchen:

Heaters Stoves Fridges Griller Chillers Trolleys Microwaves Mixers

QUALITY TESTING PROCEDURE

ISO 9000-the only available internationally accepted standard for quality management system Applicable to all kinds of organization of industries in manufacturing or service sector. Systematic standardization and certifications

That allows complete freedom on selection and use of processes and framing of operating procedures an work instructions

Place order

PROCESS FLOW CHART

Give the order to chef

Get drinks for customer Deliver salad or soup order to customer Deliver dinner to customer Deliver check to customer Cash Bring change to customer

Cash or Credit Credit Return credit slip to customer

Collect signed slip

Close table and collect tip

QUALIFICATION & CONDITION REQUIRED FOR MANPOWER

Good health and stamina Keen sense of taste and smell Excellent hand/eye co-ordination Good memory for details Artistic and creative talent Excellent communication skills, interpersonal skills and teambuilding skills Ability to remain calm in hectic circumstances Excellent organizational skills Desire to do a precise and thorough job

SALARY STRUCTURE
Main chef Chef (15000*3) Helper (7500*2) Waiter (5000*10) Manager Cleaning staff (2000*3) Security (5000*2) Total 40000 45000 15000 50000 15000 6000 10000 181000

DUTIES & RESPONSIBILITIES

Creating new recipes to please customers Hiring and supervising kitchen staff Estimating labour and food costs and altering menus to stay within budget Meeting with customers regarding menus for special occasions such as weddings, birthday parties and banquets Arranging for equipment purchases and repairs Checking the quality of raw and cooked food products Ensuring that sanitation standards are maintained Assisting with staff development and training Meeting with other managers in the organization

LONG-TERM DEVELOPMENT & EXIT PLAN

Goals

Kings & Queens is an innovative concept that targets a new, growing market.
We assume that the market will respond, and grow quickly in the next 5 years. Our goals are to create a reputation of quality, consistency and security (safety of food) that will make us the leader of a new style of dining.

Risk Evaluation
The success of our project hinges on the strength and acceptance of a fairly new market. After year 1, we expect some copycat competition in the form of other independent units. Chain competition will be much later.

Exit Plan
Ideally, Kings & Queens will expand to five units in the next 7-8 Years. At that time, we will entertain the possibility of a buy-out by a larger restaurant concern or actively seek to sell to a new owner.

Name Prateek Jain Kritika Seth PGFA1241 PGFA1230

Contribution in presentation Generation & Developing of Idea and Creating Whole Presentation Budget Analysis & Direction

Arunima Dubey PGFA1210

Sudipta Singh PGFA1256

Budget Analysis & Collection of Data

Compiling & Editing