Reference no: EM132725441
Task 1 - Develop and Implement a Business Plan
This assessment task requires the development of a formal business plan around a business idea that you would implement. You must analyse and research the business vision, mission, values, objectives, goals, competitors, financial targets, management arrangements, marketing approaches and strategic, business and operational plans for the business idea. Following your analysis and research, write a business plan which includes a description of the business, products and services, financial, physical and human resource requirements, permit and licence requirements, marketing activity, financial indicators, productivity and performance targets for key result areas.
You should complete all the required forms and applications (such as TFN, ABN, ACN, APRA AMCOS) and append them to your submitted plan, however these to not need to be lodged, such that the business plan including ensuring skilled labour is available, and that training is provided where appropriate, can be implemented.
Task 2 - Review and implement updated Business Plan
This assessment task requires the review of the following business plan:
Business Plan for your Rooster Burgers 2016/2017
The Business Summary (Please complete this page last) Business/Restaurant name: Rooster Burgers Business/Restaurant structure: Partner
ABN: [Registered Australian business number.]
ACN: [Registered Australian company number, if applicable.] Restaurant location: Melbourne
Date established: 1st August 2016 Business owner(s): x2 Mr Roo & Mr Ster
[Briefly outline your experience and/or years in the industry and any major achievements/awards.]
Products/services: Freshly cooked Burgers. Delivery available in CBD, Docklands and Southbank where customers are too busy to leave their desks or working late.
The Market
Target market: The use of top quality ingredients, all prepared and cooked freshly to order, delivered to workers in CBD, Docklands and Southbank. They are able to order online and it is hassle free. They do not need to wait around at another take away outlet, or even leave their desks.
Marketing strategy: On-going talks to major businesses in CBD, Docklands and Southbank and have a link from their intranets, flyers will be given out at the major train stations during morning rush hour and the peak lunch times in CBD, they will have a write up in Metro newspaper (distributed free to commuters). We plan to have up to 2 branded delivery bikes. The USP is that they deliver, so when customers are too busy to leave their desks they simply order online or over the phone and then its delivered - it's that simple. With constant deliveries to Rialto Towers, 121 Collins, Melbourne Central, Burke Place, ANZ Tower.
The Future
Vision statement: To not only be in Melbourne, long term to have a Rooster Burger in every major city in Australia.
To look at extending their Menu to include other items for sale - coffee and luxury burgers.
Goals/objectives: For the first year they need to break even, their costs include one small retail outlet with seating outside for up to 5 people. Their opening hours are long 11am - 9pm, they will monitor this and see when the busy times are (they think lunch time from
11.30 - 2pm and from 5 - 9pm).
The Finances
The partners will be contributing $20,000 of their own money upfront - they will borrow
$80,000, the two partners will not take a salary from the business for the first year. The
$100,000 will be used to pay the first 3 months of rent, shop fit out and kitchen equipment, cover staff salaries for the first 3 months and ingredients for the first 2 months.
Business details Restaurant Concept Products/services:
Freshly cooked Burgers with delivery in CBD, where customers are too busy to leave their
desks or working late. They expect demand to be high both with delivery and the retail store.
Registration details
Business name: Rooster Burgers Trading name(s): Rooster Burgers Date registered: 1st August 2016 Location(s) registered: Melbourne Business structure: Partnership
ABN: [Registered Australian Business Number.]
ACN: [Registered Australian Company Number, if applicable.]
GST: [Are you registered for Goods and Services Tax? Date registered?] Domain names: RoosterBurgers.com.au, RoosterBurgers.com
Licences & permits: [List all the licences or permits you have registered]
Business premises
Business location: They do not occupy a large retail space, working from a small outlet based in Melbourne with seating outside for 5, with easy access to CBD, Docklands and Southbank
Buy/lease: They are leasing the premises and have signed a contract for 2 years, with no rent increase for first 2 years and there after the rent will not increase by more than 2% for the first 5 years.
Management & ownership
Names of owners: Mr Roo and Mr Ster
Details of management & ownership: Two partners will be running the business, one focusing on the business and the other as the Chef. With a 50% equal share of the business.
There is a business contract in place drawn up by a Lawyer.
Experience: Business Manager has experience as a manager of a restaurant for over 15 years.
The Chef is a trained chef and has worked in leading restaurants thru out Australia for over 10 years.
Since the inception of the business, the business is currently breaking even. You are required to:
• Identify any weaknesses in the business plan - provide an analysis of the strengths and weaknesses of a business plan.
• Outline how you will monitor and respond to business performance including evaluation of performance against key results indicators including profit and loss, community awareness or branding, environmental impact, governance, quality, sales, triple bottom line and the workforce
• Consult, communicate with and report to key stakeholders including business partners, financiers, customers, staff and technical advisers - Draft correspondence to each.
• Outline an approach to managing underperformance.
Provide your response as a full report and attach a copy of the reviewed and re-worked business plan.
Attachment:- Business Plan Template task.rar