Business Plan for a Gastronomic Restaurant

Zlata Skrypnik

Bachelor's thesis

Abstract:

Summary:This bachelor thesis deals with implementing and improvement of brand-new gastronomic family restaurant based in Prague. The aim of the theoretical part is to give the evident knowledge and comprise all fundamental aspects of business planning. The acquired background is based on literature research from different online and paper sources.Practical part indicates a knowledge about how the expected company will be advanced and shows its aim. The practical calculations are provided to confirm the project is cost-effective. To prove that this business is workable the further actions were done: market analysis, SWOT-analysis and detailed financial plan, calculation of total costs and start-up budget, project effectiveness evaluation. Also, the risk assessment was done in the end of the business plan.According to the calculations conducted, the return on investment will be got in 20 months, what shows, that the business plan is profitable.Objectives and methodology:The subject of the study is the business plan for the restaurant. The object of research is the restaurant. The Objectives of Bachelor Thesis are: analysis of the theoretical foundations of business planning; development of the business project of the restaurant; development of measures aimed at stabilizing and increasing profits in restaurant.The methodology consists of the following principles: scientific, system, coordination, integration, accuracy. The following research methods were used to compile the restaurant business plan: the calculation and analytical method, the reporting and statistical method, the method of economic analysis, the economic-mathematical method, the forecasting method.Theoretical part:The theoretical part consists of literature review in which the essential information for profitable managing the business activity is given. First paragraph explains what the business plan is. It highlights the concept of business planning by means of showing the main scientific sources for business planning research at first, and then giving the general characteristics of a business plan. Either, the goal of the business plan is highlighted in this chapter.Practical part:The practical part initially highlights the exact concept of the restaurant. It describes the placement of the institution, its cuisine and other facts. Then the market analysis is provided, where the analysis of competitiveness was conducted. Next step was to describe the company and to conduct SWOT-analysis after which the analyzing of the target audience was provided. Afterwards, the Management and Organization paragraph mentioned the company ownership, including founders and their occupation. Subsequently, the author specified the management team and other stuff with pointing the qualification requirements for workers like education, personal qualities, job experience and described their duties as well. The last part of the paragraph Management and Organization was the calculation of start-up budget. The next Marketing and Sales Management paragraph highlights the marketing strategy, including marketing objectives and operations of the restaurant, marketing programs, pricing policy and sales strategy. The further steps of practical part were the next: to calculate profit and expenditure and to evaluate the project effectiveness. The last part was the risk assesment, where author considered the internal and external risks, which may affect the business developement. Conclusion:In this business plan the concept of a business- and family oriented restaurant is presented, and the reasons why this enterprise is economically viable are justified. So, the next conclusions were made: universal character, child-friendly policy, convenient location as well as high level of service and food quality are very important keys to success.To understand better what position, the restaurant will take and what its strengths and weaknesses are as compared to the restaurants in the area, the market an

Abstract:

d the main competitors were also analyzed.Thus, the main target audience was defined, based on the demographic data: the workers of the offices in Klamovka Business Centre as well as their children and families. Understanding that marketing strategy is one of the most important aspects of the project, the suggestion of several marketing programs was made which will be of interest both for children and adults. In addition, the use of practices of customer loyalty programs will be made.The most important thing in business planning is to understand the marketing strategy. So, the same important point is to use some loyalty programs for customers.The restaurant will follow the principle of repeat business to provide the service and food of the highest quality, which will make the customers visit the restaurant constantly.According to the calculations conducted, the return on investment will be got in 20 months.Given that restaurant business is highly profitable in Prague, the idea of the restaurant to be attractive in terms of investment was considered.

Keywords

business planning, restaurant, project effectiveness

Language used: English

Date on which the thesis was submitted / produced: 14. 3. 2019

Thesis defence

• Supervisor: doc. Ing. Mansoor Maitah, Ph.D. Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Bachelor programme / field:
Economics Policy and Administration / Business Administration