Reference no: EM133145640

Covid-19 pandemic has affected the survival and continuity of many businesses. The F&B sector is badly hit, especially with the continuous restrictions imposed on them. Many F&B operators have ceased operations (for example see https://sg.style.yahoo.com/covid-19- closures-5-restaurants-in-singapore-we-will-miss-070629231.html). Your group thinks it may be a good time now to venture into F&B. You believe that people miss dinning out together in large groups and that society will eventually learn to live with Covid-19. You are not sure which type of cuisine to specialise in, or if fusion cuisine would be better. However, you are clear that you do not want to take a franchise but start your own branding. The group has about S$50,000 (fifty thousand Singapore dollars) to invest in the business. The group decided to form a private limited company and wanted to borrow any additional amount required. The group members would be willing to grant the banks personal guarantees and also to re-mortgage their homes (if necessary). The bank asked you for a business plan with an income statement for the next two years. Formulate and appraise a concept for an F&B business. You are to construct a business plan to analyse the opportunities for launching an F&B business. Your business plan would also demonstrate and include the following.

(a) The location of the business and reasons for location, if any

(b) The legal issues pertaining to your F&B enterprise and any licenses required

My Idea is to open a Korean BBQ restaurant.