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Business plan assignment
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2. BUSINESS PLAN 2
Table of Contents
Executive Summary.........................................................................................................3
Industry Analysis.............................................................................................................3
Customer Analysis...........................................................................................................4
Customer Segmentation ...............................................................................................4
Competitive Analysis ......................................................................................................5
Competitive Pricing .....................................................................................................6
Competitive Advantage ...............................................................................................6
Marketing Plan ................................................................................................................7
Promotion Strategy ......................................................................................................7
Financial Plan ..................................................................................................................8
Start Up Costs..............................................................................................................8
Break Even Analysis..................................................................................................10
Conclusion ....................................................................................................................10
References .....................................................................................................................12
3. BUSINESS PLAN 3
Business Plan
Executive Summary
Metro Fast Foods will be an upscale restaurant offering fast foods and a variety of
beverages. It will focus of serving healthier, organic foods its customers. Offering healthier
products will fit with the global trend where the consumers are seeking for healthier foods,
including organic ones. Moreover, Metro Fast Foods will provide a menu of appetizers,
sandwiches, burgers, soups, French fries, chicken wings, and salads. The products that will be
included in the menu will be 100% natural, thus having lower sodium, fat, and cholesterol
levels.
In addition to the food items, the restaurant will also offer a host of beverages including
specialty coffee, tea, and fresh soft fruit based soft drinks.
The restaurant will initially target the consumers located within a 20-mile radius of the
restaurant. Furthermore, the target age group will include students and young professionals, and
people aged between 17 and 38 years. The management team will comprise of the
founder, an F&B manager, and operations manager, finance and administration manager, and a
marketing manager. Metro Fast Foods, therefore is seeking for US $363,000 to launch. The
funds will go
towards the design of the restaurant and a working capital to pay expenses such as
salaries, marketing and advertisements, lease costs, and the initial stock. Based on the financial
forecast,
the company will break even by the seventh year of operation.
Industry Analysis
The fast foods subsector plays an integral role in the food service sector of the
United
States. The ability of the subsector to provide low priced food and beverages
conveniently remains popular. However, the industry is highly competitive, forcing many of the
4. BUSINESS PLAN 4
competing on price tends to restrict growth and revenue in the industry. Consequently, revenue
growth in the sector is expected to remain relatively low, with an average annual growth rate of
1.8% (Littman, 2019). Nonetheless, as the population increase and the economy improve, fast
food restaurants stand to benefit. In the next five years, a considerable increase in consumer
spending is expected to mitigate decreased spending in industry. Particularly, time-poor students
and young professionals are likely to increase their spending on fast foods because of the
affordability of fast foods, increased disposable income, and time constraints (Lock, 2019).
Moreover, fast food restaurants are responding to the changing consumer tastes and preferences,
thus they are expanding their menus to include healthier foods that are low in fat and other
artificial components (Sena, 2019). In the coming years, shifting towards healthier food options
will play an important role in the growth of the industry.
Customer Analysis
Metro Fast Foods will serve the customers within a 20-mile radius from the location of
the facility as well as the surrounding areas. The target customers will include students, young
professionals, and visitors in the area. Moreover, the targeted areas has consumers who have an
affinity towards organic, healthier foods based on the success of establishments that offer
organic or natural products.
Customer Segmentation
Students will be among the primary target consumers. The area has various educational
institutions, including high schools and colleges. The students from these institutions will be
targeted to ensure they become frequent customers. Local office workers will also be
targeted considering the area has more than 10,000 workers. A considerable portion of these
workers will frequent the restaurant during lunch hours. Moreover, young couples are also likely
to become
5. BUSINESS PLAN 5
customers since they can get quick meals affordably and in an ambient environment. Besides,
stay at home mums will also be among the targeted customers. The area has a considerable
population of stay at home mothers, who tend to be active in their community and in the schools
around the area. They usually meet for coffee or for lunch, thus the restaurant will provide a
perfect place for their meetings ups.
Competitive Analysis
Metro Fast Foods will have both direct and indirect competitors. Within a three mile
radius, there are three other restaurants that pose significant competition. They restaurants pose
both indirect and direct competition for the customers. The restaurants are:
Red Robin - The leading fast foods restaurant within the area and has been operating for the
last 20 years. The restaurant offers a variety of products and tends to have a family friendly
environment. Moreover, the restaurant has an extensive menu that includes fried foods and
healthier options. However, while it has loyal customers, it has yet to differentiate itself, thus
presenting an opportunity for Metro Fast Foods to establish itself as a provider of healthier
fast foods within the area.
Tony’s Deli – The restaurant is relatively new since it was established five year ago. The
restaurant offers organic coffees and teas and a variety of baked products including
sandwiches and burgers. Since its opening, it has attracted many loyal customers. However,
while its servings are organic, it has few items in its menu, thus it does not serve the needs of
the majority of the customers. Besides, it has limited space, thus it primarily targets to-go
customers who only pick a few items or stop for a few minutes.
Thyme Restaurant – Thyme Restaurant serves fast foods and was it was recently opened.
The restaurant opens up to 1 am nightly, and serves breakfast, lunch, and dinner. Metro Fast
6. BUSINESS PLAN 6
Foods will have various advantages over Thyme Restaurant including a wider variety of
product offerings since Thyme does menu is limited with products such as sandwiches,
soups, and pastries made using organic ingredients are not in its menu. Besides, Thyme does
not have much ambience and the food it serves is unhealthy. Moreover, while Thyme
Restaurant is expected to thrive because the excitement concerning a new restaurant and its
strategic location, more customers will likely frequent Metro Fast Foods since it will be
offering high quality foods and beverages cooked using organic ingredients.
Competitive Pricing
Type of food Red Robin Tony’s Thyme
Breakfast $5 - $12 $6 - $12.95 $8- $17
Lunch $9 - $18 $7- $14 $12- $18
Dinner $15-$25 $17-$27 $18-26
Drinks $7-$11 $9-$14 $8-$12
Competitive Advantage
Metro Fast Foods will enjoy various competitive advantages over the competitors.
These include:
High quality, organic ingredients: Getting products that are 100% organic or natural is
difficult within the area, thus such products are likely to have higher demand.
7. BUSINESS PLAN
Management: The management will comprise of competent and highly
experienced individuals in the various areas that are necessary for the success of
the restaurant.
7
Relationships – Metro Fast Foods will establish better relationships with the customers in the
area to ensure that they become loyal to it. Branding and awareness campaigns will be
conducted to ensure that the restaurant becomes popular within the area.
Marketing Plan
The marketing Plan will assist in the creation of the Metro Fast Foods marketing mix.
Additionally, Metro Fast Foods will focus on three unique value propositions:
Providing superior customer service
Providing high quality organic products that include sandwiches, salads, soups, and
baked products
Convenient location and an ambient and warm atmosphere
Promotion Strategy
The target market for Metro Fast Foods will be people living or working within a 20-mile
radius from its location. As such, the promotions will be highly targeted to ensure that they
marketing messages reach the consumers within the target area. Public relations are one of the
main approaches that the restaurant will use to promote it. It will involve contact the news
outlets serving the area and informing them about the opening of a new restaurant within the
area, leveraging on the unique value proposition of the company. Advertising is another method
that will be employed and will include placing advertisements on local websites, newspapers,
televisions, and radio, as well as sponsoring community events. Besides, the restaurant will also
use sampling, whereby employees will offer passersby samples of the products that it offers so
that they can learn about the quality of the offered products, and perhaps recommend the
8. BUSINESS PLAN 8
restaurant to their friends. Additionally, various pre-opening events will be undertaken. These
events will be designed for the local merchants, prospective customers, and the press with the
objective of creating awareness about the presence of a new restaurant in the area. Moreover,
pricing will be considerate to ensure that it is highly competitive and it enables the customers to
derive maximum value from their money (Treyger, 2019).
Financial Plan
Metro Fast Foods revenue will be from the sales of organic food items including fast
foods and beverages. Additionally, the main costs will include production costs, lease payments,
and salaries. At the same time, expenses on marketing will be high during the first year
of operation, but will be lower in the years that will follows since the restaurant will already
have established itself within the area. Therefore, Metro Fast Foods seeks for a total funding of
US
$363,000 to launch the restaurant. The fund will go towards capital expenditure, working
capital, marketing expenses, and labor costs.
Start Up CostsStart-Up Expenses Amount
Graphic Logo and Name Creation $1,000
Permits + Lease Deposit $1,200
Contingency $10,000
Outdoor Sign $3,000
Building Improvements $50,000
Working Capital $172,500
Pre Opening Expenses $14,800
Total Start-Up Expenses $252,500
Start-Up Assets
Artwork $800
Walk In Cooler $8,000
Commercial Dishwasher with Sink in Table $7,000
Reach in Stainless Steel Freezers (2) $6,000
Stainless Steel Cold Station $3,000
20 quart food processor/blender $900
9. BUSINESS PLAN 9
Ice Maker with Storage Bin $4,000
Stainless Steel Hood with
Exhaust
$11,000
3 Door Reach In Beverage Cooler w/Glass $3,500
Sandwich Prep Reach Ins
(2)
$5,600
Kitchen Small wares $1,500
Six Burner Restaurant Range
(2)
$3,600
Chrome Shelving Systems (6) $500
Reach In Coolers
(4)
$7,200
Stainless Steel Work Tables (3) $1,200
Hutch for Stainless Steel Table
(2)
$800
Liquid Fire Protection System $4,000
Stainless Steel 3 bowl
sink
$1,500
Liquid Fire Protection System $4,000
Stainless Steel 3 bowl
sink
$1,500
20 wood round / oval tables $20,000
86 bleached wood Café
Chairs
$5,000
20 track lighting $1,000
Table cloths ,
napkins
$1,200
Art, Décor $2,000
Fireproof
Safe
$500
Cash register + POS System $4,000
Ofc PC $1,200
Total Start-Up Assets $110,500
Total Required Start-Up Costs $363,000
10. BUSINESS PLAN 10
Break Even Analysis
Net
Units
Net
Revenue
Fixed
Cost
Total
Variable Cost Cost
Total
Profit
Fixed Cost: $669,186.01
Variable Cost: $4.51
Number of Units: 13,934
Avg. Unit Price: $11.37
0 $0 $669,186 $0 $669,186 -$669,186
13,934 $158,424 $669,186 $62,826 $732,012 -$573,588
27,867 $316,849 $669,186 $125,653 $794,839 -$477,990
41,801 $475,273 $669,186 $188,479 $857,665 -$382,392
55,734 $633,697 $669,186 $251,306 $920,492 -$286,794
69,668 $792,122 $669,186 $314,132 $983,318 -$191,196
83,601 $950,546 $669,186 $376,958 $1,046,144 -$95,598
97,535 $1,108,970 $669,186 $439,785 $1,108,971 $0
(IBIS World,
2019),468
$1,267,395 $669,186 $502,611 $1,171,797 $95,598
125,402 $1,425,819 $669,186 $565,438 $1,234,624 $191,196
139,335 $1,584,243 $669,186 $628,264 $1,297,450 $286,793
153,269 $1,742,668 $669,186 $691,090 $1,360,276 $382,391
167,202 $1,901,092 $669,186 $753,917 $1,423,103 $477,989
181,136 $2,059,517 $669,186 $816,743 $1,485,929 $573,587
195,070 $2,217,941 $669,186 $879,570 $1,548,756 $669,185
209,003 $2,376,365 $669,186 $942,396 $1,611,582 $764,783
(Littman,
2019),937
$2,534,790 $669,186 $1,005,(Littman,
2019)
$1,674,408 $860,381
Conclusion
Therefore, it is highly likely that Metro Fast Foods will succeed based on the
analysis of the various factors. It presents a unique concept, which is based on providing high
quality organic foods, which tends to differentiate it. The target market will include students and
young professionals within the area. Furthermore, an analysis of the industry reveals that the
fast foods restaurant is significantly growing and the consumers are moving towards healthier
foods.
11. BUSINESS PLAN 11
Besides, competition in the area tends to be relatively high, but Metro Fast Foods will
leverage
on the extensive experience of its management to create competitive advantages.
12. BUSINESS PLAN 12
References
Industry Market Research, Reports, and Statistics. (2019). Retrieved from
https://www.ibisworld.com/global/market-research-reports/global-fast-food-restaurants-
industry/
Littman, J. (2019, July 15). Global fast food market to surpass $690B by 2022. Retrieved from
https://www.restaurantdive.com/news/global-fast-food-market-to-surpass-690b-by-
2022/558740/
Lock, S. (2019, August 15). Topic: Fast food industry. Retrieved from
https://www.statista.com/topics/863/fast-food/
Sena, M. (2019). Fast Food Industry Analysis 2019 - Cost & Trends. Retrieved from
https://www.franchisehelp.com/industry-reports/fast-food-industry-analysis-2018-cost-
trends/
Treyger, V. (2019, May 30). 6 Ways to Market Your Small Business for Less Than $100.
Retrieved from https://www.entrepreneur.com/slideshow/299864