I am currently a student of business management. We are working in a team of 10 people. My team members and I have been assigned the task of preparing a business plan for an upcoming restaurant in United Kingdom. Therefore, this briefing paper is directed towards our client who is interested in opening up a new restaurant chain in UK. The prospective restaurateur will be keen to know about a number of things regarding this business plan. Hence, this briefing paper is primarily being designed to cater to the information needs of our client.
A range of information will be provided to the restaurateur as part of our team effort. Restaurants that offer quality and unique experience to customers are always welcomed by people. People can never get tired of eating and they look forward to exploring new delicacies and cuisines. Hence, the business of opening up a restaurant is not at all an outdated idea. In fact if thought out clearly, it can be a very profitable business as the demand never plummets. Firstly, as per the budget of the client, the location of the eatery as well as the initial set up costs will be calculated and presented to him. The name of the business will also be suggested. Whether the eatery will be offering all cuisines or will stick to a particular cuisine will also be decided.
Next to that the vision and mission statement of the company along with the different activities it will be undertaking will be determined. A PESTEL analysis will be conducted to find out the opportunities and threats in the external operating environment. The rationale for launching the business will be explained to the client. The market size and its growth rate will be gauged and told to him. The proposed customer segment for this business will also be informed to the restaurateur. A competitor analysis and self analysis is also very important to be conducted to map the capabilities and competitive threats of the business. Self analysis will be carried out by identifying the strengths and weaknesses that might give an advantage or limit the growth of the company. Having analyzed the competitors in the market, there high points and the loopholes will be discovered through the strategies being incorporated by them. This will be used to find out the competitive advantage that the restaurant might have over the other businesses in its vicinity.
This business plan of a restaurant will be prepared through a team effort. The team comprised of people who were complete strangers and came from different cultures and backgrounds. Every team is formed for a specific purpose and gets dissolved once the task is accomplished. Similarly, our team has been formed with the intention of creating a business plan. The life cycle of this team is also pre-decided and destined. Every team goes through five stages of team development (Corbitt, Gardiner and Wright, 2004).
These stages are forming, storming, norming, performing and adjourning. The first stage involves the coming together of a group of people for a defined purpose. This is generally a very chaotic situation. All the team members have different directions and they do not know what they can expect (Farrell, Schmitt and Heinemann, 2001). Gradually in the second stage, the team starts taking a shape and the characteristics of individuals start showing. People tend to emphasize their individual goals and needs. However, there is no trust among the team members and they lack cohesion (Johnson and et.al., 2002).
Having analyzed the issues faced by our team, a SWOT analysis is presented below which will show how viable are we in working together in business situations.
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