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Business plan for creation of Greek restaurant by name of Athens

Introduction

This essay is a business plan for the creation of a Greek restaurant by the name “Athens”. The restaurant will offer the installations for 200 individuals per all moment. Except of standard installations the restaurant will be also able to offer recreational programs with Greek music and traditional dance. The competitive benefit of enterprise will be its preferential locality and the benefit the most excellent and competitive services and products for the customers of enterprise. The business is planned to position in Buxton providing comforts in the residents of region as well as in the tourists of region. The district as well the business has contact with all public benefits, as electric current water and installations of telecommunications.

Executive Summary

"Athens" will be a new restaurant business that seeks to present a new display in the restaurant business in Buxton. The business offers value to clients by offering quality services of high quality food and beverages, Moreover the company offers the rapid implementation of the orders in accordance with the specific needs of individual customers for a particular event and a range of additional services available to the client.

The aim of enterprise is the best option for the customer that provides in each customer the worth and the pleasure while the profitable increase is the objective of the corporation In addition, the goal of greater client service and pleasure will take devotion from all members of employees and suppliers (Barrow Paul, 2001).

The place installation of enterprise is the Buxton, and the benefit of the above mentioned place consists in the following criteria.

The first and main criterion is that does not exist other same business in the region on Buxton which offers services that is forecasted to offer in our business.

In Buxton there are a lot of students could comfortably use the services of the company.

Buxton is tourist area just 25 miles from the big city of Manchester and also the Manchester airport (Innkeeper, 2000).

The competitiveness of enterprise will be the unique quality and category of its products and the institution of benefit of services will leave an impression.

Does not exist any indirect competitor in the market of Buxton. The business will be unique.

Aim and Objectives

The aim of business is the preparation of exceptional foods with the real flavour that becomes from supplier with the bent and provides the service that leaves an impression. Our objective is the superior customer’s service and satisfaction giving the customer the best products. We exist to attract and retain customers. When we stick to this maxim, everything will be settled. Our services will exceed the expectations of our customers. The vision is revealed with three ways:

The most important objective is to propel the company into an important and famous market position.

The company will produce the same qualitative results significantly over and over.

The company's staff will always be steadfast in our obligation for the customer’s service and pleasure.

To develop a viable business startup.

To develop enough cash flow, pay full wages and also to develop the business.

(Biztree,2009).

Mission

The current environment presents the consumer with a range of options. The business try to be the best option for the customer that provides unique high-quality food, competitive pricing and excellent customer service is the specific nature of the business. By way of reliable and consistent, high quality results the company is committed to providing each customer with value and pleasure. The customer service and profitable growth are the two important cornerstones of the business. As a company needs to be tied to the customer and have fervor for the product supplied with the bid to improve continuously and enhancing the experience of client. It is important to assess the integrity, honesty to change, individual excellence, constructive self-criticism combined with mutual respect between the business, the purchaser and the supplier. The goal is to provide high quality food and beverages at a competitive price but valuable achieving the goal of becoming the best business services class in the city functioning as a socially responsible company (Entrepreneur Media, 2009).

Key to Success

The key to success at this business includes commitment to quality and customer satisfaction. The corporation will be responsible for ensuring a high grade of professionalism in three ways:

Create a unique business that will be different from the rest of the competition

Consistent fulfillment of the customer’ expectations.

Competitive pricing for the quality and array of services which offered.

A fair and reasonable but also satisfactory profit on each event (West Alan, 1998).

Company Summary

“Athens” will be a new corporation which plans to market in the growing market of restaurants. The company will provide to the client a combination of excellent and quality food and beverages in good price in a friendly atmosphere where the customer feels always welcome. The business will provide excellent customer services and the major purpose of business is the economic success of the corporation that should be good enough to give a reasonable profit from any product or service provide.

Company Ownership

Athens will be established as a partnership. The property will be divided to 50% Leandros Leandrou and 50% to Kypros Ellinas. Both owners have a great interest and experience in cooking, especially in Greek cuisine and generally in the food industry.

Start Up Summary

The main expenses of setting up the company are a bank finance that valued at € 100,000. 00. The company has purchased the site types that will be installed so there is no need to invest in new facilities.

ITEM £

Wet bain barie ……………………………………………………………...................1.076.00

Gas Cooker Χ 3……………………………………………………………………….6.240.00

Gas Double Fryer……………………………………………………………………...4.008.00

Gas Chicken grill With Spits……………………………………………………….....4.864.00

RSI – Greece Cold Display…………………………………………………………....1.100.00

RSI – Greece Hot Display Χ 2…………………………………..….............................1,360.00

Seretides Gas Gill With Grease – Trap Χ2………………………………......………..2.226.00

Shallow Cookpot, 3.60 L X4………………………………………………………...00.180,88

Shallow Cookpot, 5.60 L X6………………………………………………………...00.333,90

Medium Cookpot, 12.10 L X4………………………………………………………00.406,96

Medium Cookpot, 17.40 L X2……………………………………………....………00.266,08

Deep Cookpot, 11.10 L X4………………..………………………………..………..00.295,64

.

Deep Cookpot, 22.5 L………………………………………...……………………..00..140,87

Pan1………………………………………………...………………………….......…00.105,22

Pan2……………………………….......................……………………………......….00.151,30

Lavatories accessory of bathroom and elements............................................................2.541,17

Air - condition............................................................................................................... 2,150.00

Cash machine.................................................................................................................3.519.00

Luminous label ............................................................................................................00.440,00

Oil paint 40 L …………….....…………………………………...................………..00.249,10

Refrigerators.................................................................................................................12,500.00

Lawyer's expenses..........................................................................................................3.300.00

TOTAL £47,454.12

+

Salaries for 1st month......................................................................................................9.620,00

+

Insurance for 1st month.................................................................................................00.200,00

+

Bank Payment..............................................................................................................00,450.00

+

Tables and Chairs...........................................................................................................2,275.88

+

Cash start up................................................................................................................ 40,000.00

Total Start up Summary £100,00.00

(Virardi Ltd 2009; Haier Co., Ltd 2008; Peletico Ltd 2007).

Budget and Cash Flow

Analysis and Budget of Cash Flow

Cash flow is the movement of money from and to the company. This circle of meters (inflows/income and flows/payments) is that determines also the economic robustness of each enterprise.

Analysis of inflows/ flows is the study of cash inflows and flows of enterprise with final aim the maintenance of sufficient fluidity for her operation. The enterprise can avoid problems of fluidity and improve the cash situation realising analysis in concrete accounts as the receivable and payable accounts or the height of reserves.

Management of cash flow is the process at which we check, we analyze and adapt the financier flows. This process presupposes comprehension of complete operation of enterprise as well as her exchange circuit which is achieved via the improvement of processes.

Creating a budget of cash flow:

We can forecast the source and the use of meters of enterprise for future periods.

We can realise by any chance future problem of fluidity so that the enterprise proceeds in time in corrective movements.

The movements can include time shift of concrete transactions (postponement of payments or more rapid income)

Having it creates budget of meters we can we realise whether we will need in future lending as well as who will be his height (Universal Business Analytics Ltd, 2010).

(See appendix 1)

Product and Service

The enterprise offers a wide spectrum of foods and drinks products, all from high quality products. Moreover, the enterprise serves all its customers, providing each customer with high quality of foods and drinks.

The corporation is able to serves and organizes events like, weddings, christening, meetings and birthday parties.

Menu

The menu will include a variety of products that will create a unique restaurant. Supply of food will include advanced kitchen skills and allow the customer a choice of hot and cold dishes to suit the customer.

Company Location

The business will be located in Buxton area. The aforementioned place consists advantage for the business, because is just fourteen minutes away from the big city of Manchester. That will be an opportunity for the corporation to attract people from Manchester, and also is an opportunity to servant its business network.

Some information for Buxton

“Buxton is on the edge of the Peak District National Park, the first National Park to be designated in Britain. It lies between the cities of Manchester, Sheffield, and Derby.

Buxton is near by large town Macclesfield.

Buxton is just about 25 miles from the big city of Manchester.

Buxton is 10 miles west of Bake well, 10 miles east of Macclesfield and 15 miles of Stockport.

Buxton offers a wide range of shops in the Spring Gardens Shopping Centre, the High Street and the Cavendish Arcade.

Buxton Opera House, Buxton Museum & Art Gallery” (Innkeeper, 2000).

Service and staff

The company to obtain and maintain a beautiful picture quality of the company will train the staff of the company. The staff is the mirror of company that enhances and reflects the properties of the company. All staff members will have to undergo a training program that will adjust the staff requirements and company policy. In this way the company will produce higher goods and services, we may discuss the problems of business and also be more convenient approach to the type of work required. Also educating the staff will achieve less staff supervision, greater production. Consistency and staying firm at the same high standards is the key to success.

Organizational Structure

The company will set up by two people. Each of the owners will have the right to utter his views and opinions on everything related to business, sales, and product market and on the financial side. Both owners will sign a contract that will ensure an equal share of the profit and loss of funding resources for both owners.

The company will set in motion its production processes with ten fit and trained people in the workforce who have experience in this kind of business.

The organization of business will be planned and controlled with the following three functional areas:

With the excellent production.

With the administrative support.

With the sales and marketing.

The company will be headed by a General Manager who will be has experience in the catering business or restaurants and/or catering companies.

The accountant who will be responsible for the financial side of business and also for the payment of staff. Accountant will be recruited from the general manager in which they will communicate constantly.

The production staff will consist of at least four employees, headed by the head chef.

Four full-time waiters are to be employed by the company and one full time driver.

However, this department will likely be significantly expanded in the nearest future, as the increase in the number of orders will necessitate a greater number of employees in production and service.

The Product

In today's extremely competitive environment, it becomes progressively more difficult to differentiate one restaurant from another. That makes a difference in a restaurant is a different variety and quality products furthermore. The products of company will come from farmers in Greece. The idea of business is the presentation and love of the Greek dishes that are unknown in the region.

The restaurant's menu consisting of traditional Greek dishes, but also will contain a bit of international cuisine over wanting to attract all kind of customers were interested in buying an excellent dish.

The environment of the work will be decorated with Greek products and will be painted in the colors of Greece. The customer will enjoy a meal in a friendly and pleasant environment. Employees have the best training available. Both employers have a degree and certification as a cook and waiter as well as experience in cooking and serving.

The market

Consistent with Australian Food News (Australian Food News, 2009) some of the most famous restaurant chains in the UK market have decided to start working with the food standards agency in order to be able to add the healthy eating on food choices. In a nation where the health harms caused by fast food increased, the require for a more healthy and balanced diet is increased (Food Standard Agency, 2008). As indicated in a report from CBS Evening News (2009) ,the danger of lower-cost foods which are high in salt, sugar and fat, and provides that the financial meltdown will make it worse.

This is an strength and advantage for our company which used healthy products for the preparation of food.

Target Group

Students of University

There are a total of 22,966 students attending in the University of Derby. 17,011 of them are students of higher. 2.697 are based in overseas institutions were offered and 3258 are students of secondary school. About 8% of students, about 1,300 students are studying in Buxton campus (National voice of students, 2010).

Shoppers and tourists

The businesses aimed to attract the people who visit the town or the people who pass their time in Buxton so as to make their purchases, shopping and holiday. The business wants to attract those people especially in the summer when the number of tourists increases because of the festivals and events there are in the summer and because of the weather.

During the summer months, the local economy benefits from an influx of tourists who visit the surrounding Peak District region. Buxton also plays host to a number of summer festivals which draw large numbers of visitors too (The full wiki, 2010).

Buxton residents

The population of Buxton is approximately 21,000 and the business wants to attract as more people is possible (buxtononline, 2011).

Marketing Strategy

The aim of this stage is to present how the benefits of target market are offered from the produce and product.

-Target groups

• Students of the University of Derby/Buxton Campus: Undergraduate, Postgraduate and College Students

• Shoppers and tourists

-Goals

To develop into the best restaurant in Buxton.

To sell up to 100 dishes per day.

To attract clients from other cities and regions of the U.K.

To become the best choice for the clients.

Risk Management

Anxiety: The company must realize that something has gone wrong and worry about that.

Requirement: It must state an obligation to solve the problem, and put down in minutely of what to do.

Control: If the business is in the middle of a main crisis, the principal figures in the business must show that they are in manage of the circumstances and work with any responsible authorities to make sure that it will not happen again the same.

(Atkins, D. et al, 2006).

Competitors

University Bistro, Bistro 44.

Bistro is located on campus and is the fastest possible option available for the students. The Bistro offers a variety of choices to students, such as soups, pasta, meat and fish (University of Derby, 2010). The owners of the company as students of the university they know that many students protest about the quality and food prices. Students look forward to the best deals, the freshest quality and most wholesome and healthy food.

Actually the business does not have any indirect competitor because it will be the only restaurant with Greek dishes and Greek live music.

Promotion

In order to promote the business the owners decided to present the food of the restaurant to the people. So they decided that the best way to success this is to promote the food in the road. They will cook some foods of restaurant menu and they will offer them to the people for free of charge.

As well the business will be presented by the distribution of flyers.

Also by the advertisement in the newspapers and magazines, in the TV, and on radio.

Also the business foresees the creation of a website in internet which will include the presentation of the company and some details for the company.

Swot Analysis

-Strengths

Is the first Greek restaurant in Buxton.

The menu of the restaurant reflects demand for fresh, healthy and quality food.

The restaurant is spotless and neat.

The restaurant offer products which is not available somewhere else in the market.

The business employs a well-trained staff.

-Weaknesses

The company has not done any research on clients to see if the company will be successful and profitable

The restaurant is new and not recognized.

Some clients have to travel further to enjoy the restaurant.

-Opportunities

The restaurant will promote Greek cuisine.

Continue to develop business in other places.

-Threats

Competition - Clients may wish to go in other restaurants to gratify their requirements.

The case of food contamination.

The operating expenses of the business will rise soon.

(Davis, B. Et al, 2008).

Pestle Analysis

-Political

Taxes.

-Economic

Low set up costs

Franchising facilitates set ups

The support from important suppliers.

The growing market.

Perceptible value for the money.

Increase of available income.

-Social

Full of activity and hard lifestyles.

Healthy Diet.

Increase of vegetarians.

-Technological

Rhythm of technological change - Ordering system via internet.

-Legal

Consumer laws and regulations - Prohibition of smoking.

-Environmental

Recycling.

Cost of transport and delivery of merchandises.

David, P. (2007).

References:

Atkins, D., Bates, I. and Drennan, C. (2006) Reputational Risk: A question of trust. London, United Kingdom, Lessons Professional Publishing Limited.

Australian Food News (2009) Fast Food chains work with the UK authorities to improve health of their food [Internet]. Available from: <http://www.ausfoodnews.com.au/2009/05/13/fast-food-chains-work-with-uk-authorities-to-improve-health-of-their-food.html> [Accessed: 6 November 2010].

Barrow Paul (2001) The Best-Laid Business Plans, How to write them, how to pitch. Virgin Publishing Ltd, London

Biztree. (2009) Business in a Box [Internet]. Available from: <http://www.biztree.com/products/business-in-a-box/> [Accessed: 14 November 2010].

Buxton Online. (2011) Buxton Online [Internet]. Available from: <http://www.buxtononline.net/> [Accessed: 7 November 2010].

CBS Evening News (2009) As U.K. Slumps, Fast Food Business Booms [Internet]. Available from: <http://www.cbsnews.com/stories/2009/02/26/eveningnews/main4832534.shtml> [Accessed: 8 November 2010].

David, P. (2007) Marketing for Managers. (5th ed) Oxford, United Kingdom, Elsevier Ltd.

Davis, B., Lockwood, A., Pantelidis, I. and Alcott, P. (2008) Food and Beverage Management. (4th ed) Oxford, United Kingdom, Elsevier Publications.

Food Standard Agency (2008) Trends in portion sizes in the UK – A preliminary review of published information [Internet]. Available from: <http://www.food.gov.uk/multimedia/pdfs/reviewportions.pdf> [Accessed: 8 November 2010].

Haier Co., Ltd. (2008) Haier. [Internet]. Available from: <http://www.haier.com/products/more.asp?epcID=1> [Accessed: 17 November 2010].

Innkeeper (2000) .Buxton tourist and travel information [Internet]. Available from: <http://www.kayukay.co.uk/buxton.html> [Accessed: 5 November 2010].

National voice of students. (2010) NUS Student Experience Report [Internet]. Available from: <http://www.nus.org.uk/en/News/News/NUS-published-first-major-study-into-student-experience-/> [Accessed: 5 November 2010].

Peletico Ltd. ( 2007) Peletico. [Internet]. Available from :< http://www.peletico.com/ > [Accessed: 17 November 2010].

The full wiki. (2010) Buxton: Reference [Internet]. Available from: <http://www.thefullwiki.org/Buxton> [Accessed: 15 November 2010].

Universal Business Analytics Ltd. (2010) Management of Financier Flow. [Internet]. Available from: <http://www.ubaconsultants.com/index.php?option=com_content&view=article&id=90&Itemid=89&lang=el> [Accessed: 27 November 2010].

University of Derby. (2010) Key figures. [Internet]. Available from: <http://www.derby.ac.uk/statistics/key-figures> [Accessed: 12 November 2010].

Virardi. (2009) Virardi. [Internet]. Available from :< http://www.virardi.com/> [Accessed: 17 November 2010].

West Alan (1998) A Business Plan, Built a great plan for the growing business. (3rd ed) Financial Times Management, London

Entrepreneur Media. (2009) Elements of A Business Plan-Business Description [Internet]. Available from: <http://www.entrepreneur.com/businessplan> [Accessed: 20 November 2010].

Appendixes

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