Business Profile

Describe about the External and internal environmental analysis, SWOT analysis and Develop a risk management plan of “Go Veggie” Restaurants?

a.Vision of Go Veggies

Enhancing the goodwill via serving the best healthy food in the New Zealand market

b.Mission

Go Veggies restaurants  is committed to  provide the highest quality , fresh and organic natural food  that will help to keep up the healthy living habits among the populations. Our employees are friendly, eager to serve quickly with polished and professional behvaiour (Barrow, 2011).  

1. Objectives

• Profitability worth of double the investment which is more than half million after second year.
• Offers foods without artificial colures, flavour and rotten items
• Enhance the customer base by 23% per year with the support of promoting the organic farms that keep our earth and water pure.

SMART

d. Legal structure

Figure 1: Legal structure of the Go veggies Restaurants

(Source: Drummond, Ensor & Ashford, 2012, pp-234)

e. Go veggies  offerings

Some of the major items and products sold by the Go veggies in their main courses items to the customers along with changing menu as per seasonal variations.

f. Identify the competitive edge for Go Veggies

Organic ingredients and feature will add the local flavour which would make the food more delicious and healthy. Apart from that, company will also serves the salads and fruit in order to keep the reprise the menu extremely hale and hearty (Jackson Sawyers & Jenkins, 2008). Besides that, the menu of the Go veggies will be tropical and changes with changing season in order to cater seasonal fruit and vegetables to the items not the hybrid one.

g. Business background

Go Veggies restaurants is vegetarian organic food restaurants  in the heart of the Auckland, Queen street.  The market has footfall of more than 50000 per day. The business will sole proprietorship because the business is small (Seshadri, 2009).  The owner of the company will be capitalizing on the growing demand of local organic food which fresh and no chemical and preservatives are added to it which would bring eco household environment.

h. Purpose of business plan

Business is about making money  and business plan would help to manage the business from start up to profitability prospect. Organic restaurants business chain is one of the booming industries and is very much attracting the general population of New Zealand (Shaw, 2008).  Business plan would helps in determining the best possible way of allocating the resources along with conducting the research on the market feasibility, financial feasibility of the business which will help in decision making.  

i. Critical success factors of Go Veggies

Brand value: One of the basic critical success factors for the Go veggies is demand of the organ ic food times are been risings worldwide. As the more and more people are opting for veggies in order to stay healthy and fit. This is lowered the toxic in the air and earth which would reduce the problems of obesity and thyroid (Germain Claycomb & Droge, 2008).  

Graph 1: Countries with large domestic market for organic restaurants opportunities

(Source: Morris Schindehutte & Allen, 2011, pp-748)

Unique items: Other major factors for the Go veggies restaurants would have unique food items with seasonal variations items which is not been present in existing restaurants.

Identifying the Competitive Edge of Go Veggies

Quality and Value pricing: Apart from that another major factor would be quality service which would be quick and pleasant.  Lastly, the price would be keep as the value pricing or penetration pricing in order to cater large customer base (Goksoy & Ozsoy, 2007).

Figure 2: SWOT analysis on Go Veggies restaurants

(Source: Shaw, 2008, pp-445)

Target customers

Penetration pricings: Go veggies will be choosing the penetration pricing which is to give higher quality products with low price.

Figure 3: Pricing strategy of Go Veggies

(Source: Germain Claycomb & Droge, 2008, pp-558)

Go Veggies Restaurants will promote the store opening via live music and fresh food in the parking lot at weekends. The ambience of the store would be based on neo classical and design on the vegetables and fruits.  

The trade fair and the Auckland music festivals are been generally happens at the queens street so the restaurant have excellent foot traffic (Seshadri, 2009).  Go veggies will be hosting number of projects like food banks and community programmes for the benefit of organic food. The closet restaurant to the high street area is 12 minutes drive from the main market. The location has lots of parking space for the cars.   

Figure 4: Positioning of products of Go veggies

(Source: Barrow, 2011, pp-567)

Most of the multi cuisine restaurants are being looking to achieve the cost leadership in the market in order to increase their brand value. However, Go Veggies are looking for product differentiation by innovating the recipes.

With the of sharp rise in the internet users, Go veggies are looking to promote their products in the in social media platform like Face book and Twitter fan page in order to gain the popularity . Mobile app is other major strategy to book the restaurants (Goksoy & Ozsoy, 2007). Rest, TV and magazines are traditional way of promoting the restaurants and its vision of making the world better place.

Human resources requirements

Figure 5: Communication flows within the Go veggies restaurants

(Source: Germain Claycomb & Droge, 2008, pp-446)

Major risk in the business

Inadequate funds: 9 out 10 restaurant business fails because of inadequate capital. Restaurants business needs more than 30, 0000 capital in order to run its business operation day to day.  Most of restaurants struggle to find their ground in the first year  while the owners  makes  necessary strategy in menu or staffing  and customers  find out the place (Seshadri, 2009).

Food safety concern: Food poisoning is major cuisine of concern for restaurants owners. Restaurants personnel are trained in food safety but fails to pay enough attention towards its which could turns into allergies.

Budget: In order to decrease the risk, plan to make expected budget for several months’ expenditure and expected profit would reduce the risk of funding (Jackson Sawyers & Jenkins, 2008). Apart from that,  funding via bank with lowered interet rate would also decarse the burden for the  financial liabilities.

Examine the cooks and other staff: Clean the aprons and uniforms. Clean and manicured hands with no cuts, washing the dishcloths regularly along with separate chopping board and finally  avoid using the rotten vegetables which is spreading the risk of bacteria around the kitchen.

Critical Success Factors of Go Veggies

These all could be monitored via making the financial feasibility for the  restaurants business by making the expected income statement , expected sales plan , balance sheet for 3 years and the cash flow statement of the existing business.

Cleanliness: The food poising would be stooped and waste can be control via keeping clean within the Kitchen area operations (Clarke, 2010). This would help to reduce the wastage which can be find out in parking lot bin. Apart from that, using guacamole which is centre of disease are one of the major cause of food poisoning.   

Operational benchmarks: Operational benchmarking is based on staff and chef efficiency to  cook the items of menu as soon as possible with quality (Germain Claycomb & Droge, 2008). Apart from that waiter and the finance manager efficiency for focusing extensively  on the serving the food at right time and processing right amount of bill. This will be benchmarked via 360 degree appraisal system.

Strategic benchmarks: This is where the owners of Go veggies will be making their budget to make sure that, restaurants need to perform well in 5 to 10 years.  With the help of implementation of TQM or Price 2 methodology will help to reduce the wastage and maintain consistency. This could be benchmarked via balance score card (Drummond, Ensor & Ashford, 2012).

With the help of prince 2 methodology, Go veggies will be able to manage and control its financial budge and monitor within the operation  system of the kitchen which is would restraints to use the  products that would cause the food poisoning.

Figure 6: Risk management techniques used by the Go veggies

(Source: Rhyne, 2009, pp-319)

Reference List

Barrow, C. (2011) Practical Financial Management: A Guide to Business planning and budgeting, 8th ed. London: Kogan Page Limited 

Clarke, G. (2010) Business Start Up and Future Planning, Bringhton: Emerald Publishing

Drummond, G., Ensor, J. & Ashford, R. (2012) Strategic Marketing: Planning and Control, 4^th ed. London: Palgrave Macmillan.

Jackson, S. R., Sawyers, R. B. & Jenkins, G. (2008) Managerial Accounting: A Focus on Ethical Decision Making, 5^th ed. London: Chapman and Hall.

Seshadri, S. (2009) Sourcing strategy: principles, policy, and designs, India: PHI Learning Pvt. Ltd

Shaw, J. K. (2008) Strategic management in telecommunications, 4^th ed. Belgium: Peeters Publisher.

Germain, R., Claycomb, C. & Droge, C. (2008) Supply chain variability, organizational structure and performance: the moderating effect of demand unpredictability.  Journal of operations management, 26, 557-570

Goksoy, A., & Ozsoy, B., (2007). Business Process Reengineering: Strategic Tool for Managing Organizational Change an Application in a Multinational Company. International Journal of Business and Management, 22: 256-264.

Morris, M., Schindehutte, M. & Allen, J. (2011) The entrepreneur’s business model: Toward a unified perspective. Journal of Business Research, 58: 726-735.

Rhyne, L. C. (2009) “The relationship of strategic planning to financial performance,” Strategic Management Journal, 4, 319-337

Matsuda, T. & Hirano, M. (2007) A perspective of planning literature, European Journal of Operational Planning, 12(2), 138-45

Mohammed, A. A. & Rashid, R. (2012) Customer Relationship Management (CRM) in Hotel Industry: A framework Proposal on the Relationship among CRM Dimensions, Marketing Capabilities and Hotel Performance. International Review of Management and Marketing, 2(4), 220-230