Introduction to BusinessGroup members

Kiu Ngin PernHong Shi LikLee Zhi AngLe Jia Ling Brian Koh

Darryl Harvey

Business Background

Product and services• Restaurant/Trading Company - for the restaurant we would serve customers foods and drinks - for the trading company we would supply our ingredients and produces to other restaurants

Name & Logo

For the company name we decided on giving as LOL which means ‘Laugh Out Loud’ . It is fun, attractive and also easy to remember

Location For the location, we decided to open in the Taylors UniversityReasons :• Lots of students • Even it is weekend, there will still be student staying in the

campus come to eat• Convenient for the students

Market AnalysisFor our restaurant, our target market besides students would be also adults and family.Reasons :• Adults are always planning to eat healthy and because we are

restaurant we serve healthy and fresh foodsFor our trading company, we aim to supply our ingredient and products to others restaurantReasons : • Easier for other restaurant to buy from us instead of supplier• To gain extra profits besides from the restaurant

Possible Competition1. Fast foods outlet examples : McDonalds, KFC and etc2. Other type of restaurant that surround our location

Strategy• Start our outlet as a “Market Tester” to become a model of

expanding number of outlet in the future• Produce a complete restaurant history and menu offering piece to

be used as the primary public relation tool for all target media.• Build our brand through the selling portion of our supply to other

restaurant.• Providing a fun and energetic environment, with outstanding

quality.

PricingOur total sales allocation will be 70% restaurant sales and 30% of sales from selling portion of our supply to other restaurant. The price will be competitive with other upscale restaurants around our area.

Advert/Commercial:The most suitable advertising option for our business is by online. A well-designed website can entice customers to come to our restaurant. We chose this because its a cost-effective way to attract a customer. Other than that, we will able to reach a global audience at a low cost compare to the other advert option such as magazine, television and so on.

Benefits

1. We will able to serve a wider customer base 2. Minimize the rate of failure of our restaurant

Type of BusinessSole Trader – person who is the exclusive owner of the businessReason :Gain control – full control of your businessOperation flexibility - can make any changes & decision fastLow setup cost – less need for professional advice & the cast reducedProfit retention – retain all the profits from the business rather than having to share with other shareholders

Employee Strata• Owner • Chef

• Waiter/Waitress• Staff

• Sales Person

Funding Requirements1. Start up cost such as rental, utilities, furniture, food &

beverage is RM 40,0002. Marketing – Restaurant opening event, menus , coupons is

RM 9,0003. Miscellaneous cost – water, utilities & wages is RM 30,0004. Yearly profit is around RM 170,000 after minus the

miscellaneous cost.5. Profit for the next 3 years will be around RM 300,000

ConclusionAction Plan:Competitiors- we would be able to compete with other fast food chains because of “Economies of Scale”. Also being a restaurant we would hire world class chefs serving healthier and better tasting alternativesTarget Market- By utilising the social media as our main advertisement body we would be able to reach out to a wider customer base and exposureBusiness Management- because our business is the first of its kind adopting a sole trader status means that the proprietor would be able to monitor and change the company quickly without having to do paperwork.Financial Planning- in the short term our starting capital might be high but only for the short term.

Sources Fine Dining Restaurant Business Plan. (n.d). Retrieved fromhttp://www.bplans.com/fine_dining_restaurant_business_plan/services_fc.php Fast Food Restaurant Business Plan. (n.d) Retrieved fromhttp://www.bplans.com/fast_food_restaurant_business_plan/strategy_and_implementation_summary_fc.php Types of advertising. (2014, October 8). Retrieved from https://www.business.qld.gov.au/business/running/marketing/advertising/advertising-typesCarmen Chai  Fast food vs. restaurant fare: Which is worse for your waistline? July 27, 2015 11:43 amhttp://globalnews.ca/news/2129802/fast-food-vs-restaurant-fare-which-is-worse-for-your-waistline/Jim F in Fast Foods, Fast Food Issues, Fast Food vs Full-Service Restaurants: Which is Better? December 26, 2006 http://www.diet-blog.com/08/fast_food_vs_fullservice_restaurants_which_is_better.php