Business plan for the Proposed AfroCare Restaurant in Allerton, Essay

Business plan for the Proposed AfroCare Restaurant in Allerton, Liverpool - Essay Example The researcher states that the name of the proposed Afro-Caribbean Restaurant shall be AfroCare Restaurant. It will be based in the Allerton borough approximately 4.8 kilometres from the city centre of Liverpool. AfroCare Restaurant will specialize in the preparation of Afro-Caribbean dishes including breakfast, lunch and dinner. Ideally, this business envisions a large market with mixed customer base incorporating mainly the British Afro-Caribbean community residing in the suburbs of Liverpool and its environs including the Hunt Cross and Calderstones Park. On the other hand AfroCare Restaurant will also incorporate a wide range of fast foods and customized drinks at affordable prices suitable for the vast majority of college students living around Allerton. While the business is set to roll out by the end of this year 2012, it looks forward to capture a market share of about 60% by the close of Year 1. The projection is based on the fact that there are no restaurants in Allerton wh ich have specialized in Afro-Caribbean dishes. However, it is prominently argued that the few that prepare Afro-Caribbean foods have recorded remarkable increase in customers and thus an improved attributable revenue performance. In terms of capacity, AfroCare Restaurant will be established in a spacious facility along the Allerton Road with an optimal sitting capacity of 200 heads. At full occupancy, the restaurant projects sales revenue of about  £9,000 per day. ?9,000 per day. This translates to an AfroCare annual return of ?3.24 million. If the business therefore realizes at least 60% customer base, it will manage an annual revenue performance of ?1,944,000 at the end of Year 1. To that end, the proponent of this venture has set aside a starting capital of ?300,000 with an estimated reinvestment rate of 10% on the cost of capital (Taylor and Brown, 2003). Thus, AfroCare Restaurant envisions the attainment of a full capacity by the second quarter of Year 2. The business and its Management Proper management is one of the core elements of every business especially when competition as a factor to consider. Guided by a realistic vision and SMART objective, the management of any enterprise defines the overall stricter and operational dynamics of the business as reiterated by (Toren and Adam, 2011). AfroCare Restaurant will basically be a sole proprietorship company with limited liability. As such, the manger will reserve exclusive authority of the operations of the business while taking into account the possibility of outsourced expertise in Food and Beverage Management in line with common practice in the modern world (Boone and Kurtz, D. (2010). With that in mind, AfroCare Restaurant endeavours to set an exceptional and unmatched standard in the provision of Afro-Caribbean dishes beyond the expectations of our customers. Therefore, its operations and service delivery shall always be inclined toward achieving the following vision and objectives. Vision Primari ly, a vision refers to the main goal that an organization seeks to achieve over a predetermined period of time. Whereas the vision governs the operational efforts of an enterprise, it keeps the business in focus at all times as postulated by (Liebig, 1994; Walters, 2011) The vision of AfroCare Restaurant is to be the best service provider of Afro-Caribbean foods across Liverpool and beyond. Mission According to Shane (2003), a mission refers to the basic philosophy on which the daily activities of an organization are