Business Plan for Restaurant

Products and Services : Theme – â€Å"Food Fusion† Singapore being truly a trans-national epitome and embraces every culture with due dignity and respect, it is just apt for us to theme our restaurant menu into a â€Å"Food Fusion†. Fusion food is a combination of various forms of cookery and comes in several forms. Regional fusion combines different cuisines of a region or sub-region into a single eating experience. Asian fusion restaurants, which combine the various cuisines of different Asian countries, have become popular in many parts of the United States and United Kingdom.Often featured are South Asian, East Asian, and South-East Asian dishes alongside one another and offering dishes that are inspired combinations of such cuisines. In Singapore with highest influx of migrants, fusion cuisine is being reinvented and is becoming increasingly the norm at numerous cafes and restaurants with the quality and creativity of Asian-fusion restaurants. Foods based on one culture, but prepared using ingredients and flavors inherent to another culture, are also considered forms of fusion cuisine which is our them â€Å"Food Fusion†, a fine blend of Asia. Sing-Foo’sion Special :Signature dish of Singapore, similar to â€Å"Singapore Sling† drink. * Indo-Chinese Foo’sion * Malay-Indo Foo’sion * Indo-Conti Foo’sion * Japanese-Indo Foo’sion * Indo-Western Foo’sion Aromatic Soups * ‘Pho' – sliced beef or chicken noodle soup topped w/thai basil, cilantro, culantro & bean sprouts. * Spicy Lemongrass ‘Hue' Beef, Chicken Or Tofu. * Seafood Tom Yum. * Vietnamese Hot & Sour Soup * Wakame Tofu Miso. Fresh Fusion Starters * Fusion Spring Rolls. * Crispy Taro Ball * Patate Douce Fritters * Herberd Cherrystones served with a spicy lime sauce * Coco curry mussels with grape tomatoes.Oodles of noodles * Coco Curry Butterfly Shrimp Or Tofu * Pad Thai * Tofu Vermicelli * Grilled Pork Chop Ve rmicelli * Sesame Noodles * Spicy Udon Chicken, Tofu & Veggies. Grains Fry-ins * Chicken Or Tofu Pineapple Fried Rice * Crispy Thai Basil Chicken * Vietnamese Five Spice Marinade Grilled Pork Chops * Charbroiled Lemongrass Chicken * Sauteed Coconut Curry Lemongrass Chicken, Shrimp, Tofu Or Beef Hot Calming Herbals and Smoothies * Organic Black pepper Coke * Milky Green Ginger Teh * Hot Soy Expresso * Fusion Sangria smoothy * Young Coconut creamy tero 5. Market Analysis ?†¢Summary? Industry Analysis? †¢Target Market? †¢Customer Profile? †¢Major competitors and participants? †¢Market Segmentation? †¢Projected Market Growth and Market Share Objectives Singapore is the place for food lovers and it offers most of the international cuisines. Singapore’s food and beverage (F&B) services industry contributed approximately SGD 11. 36bn or 3. 5% to the country’s total GDP in 2011. Ministry of Trade and industry has estimated 4% growth in Accommodati on and food services industry in Singapore supported by healthy growth in visitor arrivals with restaurants achieving about 5. 5 growth. With Tourist arrivals at ever time high and with upcoming international cruise terminal next to MBS , Marina Bay sands(MBS) is best placed for having a restaurant. It has many restaurants offering International cuisine for business as well as leisure. With many highflying tourists and locals too visiting this integrated resort, there is room for Value for money restaurants offering quick lunch/dinner. Event Plaza in MBS attracts crowds who visit Arts and science museum as well as light and water show.Converting these footfalls in to business is the key issue. Customers include visitors to Exhibition center , Casino , and the evening crowds to the light shows for less than $10 meal. MBS has many restaurants like A Taste of Nanyang, Bay Sushi, Celebrity chef restaurants too. There are not many offering Indian food except Punjab Grill by Jiggs Kalra f or high end dining. Target market is Indian food lovers and in 20 to 50 age groups , who frequent the Marina bay sands attractions. Pricing and demographics help in targeting the right customer.Market growth is a factor of visibility of the restaurant, driving the message of affordability and easy accessibility to the visiting crowds. Singapore food consumptions accounts for 3% of GDP and it has highest food consumption levels in South east Asia. Working with The Agri-Food and Veterinary Authority (AVA), Health Promotion Board (HPB) and National Environment Agency (NEA) on offering healthier food will go long way in building the food brand. Food and beverage industry has the social obligation to support healthy and active lifestyles and thus iffering healthy food will lead to increased sales and market share within the MBS rea. 10. Marketing Plan †¢Creating and Maintaining Customers †¢Product Pricing Strategy? †¢Product Positioning †¢Sales and Distribution Plan à ¢â‚¬ ¢Promotional Strategy Expenditure on F&B has grown steadily in Singapore, with market value expanding from USD 8. 3bn in 2006 to USD 11. 4bn in 2011. Attracting customers and repeat customers in a challenge where visitors arrivals are event based. To have a healthy customer base it is necessary to tie up with Event organizers like Singapore Tourism board, MICE organizers.Sign boards on healthy eating along the marina bay Promenade to attract crowds, tit bits of healthy Indian foods and how to choose healthy food and stay fit , offering SGD 10 experience as the prime product in allocation (MBS) where healthy dining may be rare and is expensive. Positioning with value for money healthy dining experience, liaising up with HR departments of neighboring working population to have lunchtime crowds , leaflets dining events around the marina promenade with discounts about 20% if the whole family ( at least 4 persons) dining are some of the promotional strategies.Healthy dining as brand with strengths of Vegetarian and Non-vegetarian Indian cuisine which offer less trans fat, olive oil cooking, no reuse of cooking oil and, less fried food will resonate a healthy product for lunch and dinner. New shopping destinations like Marina link mall and MBS shopping outlets itself will be approached to be positioned as partners in Market making for each others benefit. Frequent feedback forms to patrons offering discounts of up to 20% on food quality , brand image and service to keep the restaurant in sync with patrons expectations and experience will help to redesign the food offerings.