Business Plan - Sparkle Bar and Restaurant

Charles W.

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Business Plan - Sparkle Bar and Restaurant

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Themes

Sparkle Bar and Restaurant, foodservice, day-to-day operations, SWOT analysis, restaurant industry, management, United Kingdom, management practices, bar industry, restaurant and bar industry, business administration, restaurant and bar products, restaurant, bar, marketing strategy, marketing, business plan

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Abstract
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Abstract

Sparkle is a medium-sized enterprise that intends to operate in the UK restaurant and bar industry. The restaurant will be located in Clapham, South-West London and will have a seating capacity of 84 patrons. The firm intends to gain a sustainable competitive advantage in the UK restaurant and bar industry. Sparkle will derive its competitiveness by employing effective strategic management practices. The goal is to enhance the firm's success in penetrating the UK market.

Executive Summary
1. Overview
2. Products and Services
Mission Statement and Company Values
1. Values
2. Objectives
3. Company Capabilities
4. Strategic Content
External Environment
1. SWOT Analysis
2. Organizational Structure
Marketing Plan
1. Segmentation, Targeting and Positioning
2. Marketing Strategy
Operations Plan

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Extract

[...] This denotes rising consumer demand, as opposed to a rise in the number of restaurants and bars. The growing consumer demand is forcing consumers to expand the size of their product portfolio. It is projected that the foodservice industry will reach Pound84,548 million by the end of 2020 (Timeric p. 6). Weaknesses Limited scale: unlike the other industry players, which have been in operation in the UK for a long duration, Sparkle is a relatively new entrant. Opportunities Growth in the travel and tourism industry: the industry is further likely to benefit from changes in the travel and tourism industry. [...]

[...] [Online]. Available from https://smallbusiness.co.uk/small-business-grants-uk-2548113/ Strauss, D. (2019). Corporation tax cut to cut cost UK government coffers 12 billion pounds. [Online]. Available from https://www.ft.com/content/30238556-2322-11e9-8ce6-5db4543da632 Timetric. (2018). Brown's restaurant and bar. New York: Research Gate. [...]

[...] Available from https://www.bdo.co.uk/getmedia/5a7bdcc2-7732-48f5-bcca-081c6f9668d9/Restaurants-and-Bars-Report-Winter-2018-BDO.pdf.aspx Deloitte. (2017). Changing tastes; the UK casual dining market. [Online]. Available https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/ConsumerIndustrialProducts/deloitte-uk-casual-dining-market.pdf Dransfield, R., & Needham, D. (2005). AS level business, OCR. Oxford: Heinemann. Havaldar, K. (2010). Business marketing: text and cases. New Delhi: Tata McGraw-Hill. Johnson, G., Scholes, K. [...]

[...] Objectives Sparkle is committed to achieving the following goals. To grow the firm's customer base by 15% annually by attracting and retaining customers. To grow the firm's market share in the restaurant and bar industry by 10% annually for the next five years. To enhance the firm's rate of market penetration in the UK by integrating excellent marketing strategies and practices. Company Capabilities Despite being a relatively new market entrant, Sparkle has managed to develop a set of critical skills that include: Customer focus Customer service is considered the most crucial aspect of the organizations' quest to achieve sustainable competitiveness. [...]

[...] & Whittington, R. (2008). Exploring corporate strategy: Text and cases. London: Prentice-Hall. McAllister, J. (2019). UK restaurant market-facing fastest decline in seven years. [Online]. Available from https://www.bighospitality.co.uk/Article/2019/09/24/UK-restaurant-market-facing-fastest-decline-in-seven-years-according-to-MCA-Insight Nguyen, Q., Nisar, T., Knox, D., & Prabhakar, G. (2017). Understanding customer satisfaction in the UK quick-service restaurant industry. British Food Journal, vol no Small Business. (2019) UK small business grants to apply right now. [...]

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