Business Plan Eateries Nepal

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Business Plan Eateries Nepal

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1. Introduction

Business Idea

The idea of a business marker is not unique but it is famous among people all the time. Across the globe, the food industry is rapidly growing with the others growing industries every day (Obschonka, Silbereisen and Schmitt?Rodermund, 2012). Regarding this matter, this particular business tends to initiate a new business venture of food. But, people are thinking about their health therefore, if this particular venture will produce gluten-free food that is healthy for everyone. Gluten-free foods will a safe choice for the customers and they will become captivated services among them.

The report’s business strategy is to design the construction of a supermarket in Nepal that will be called “Eateries.” It will succeed as a junk-free and nutritious meal in today’s society, as well as an important part of our daily lives.

Business Canvas

Key Factors

Key Activities

Value Proposition

Customer Relationships

Customers Segments

Channels

· Stakeholders will be seen as critical partners who will assist the company in expanding magnificently.

· Material suppliers.

· This fast-food business would conform to societal norms in order to meet the specific requirements of each customer.

· It would have frequent access to healthy food supplies in a periodic manner (Joyce and Paquin, 2016).

· Quality food services

· Cheap in price

· Online sale services.

· Loyalty program.

· Appropriate customers service.

· Customers representing each category.

· Health-conscious customers.

· Online delivery

· Retailing offline services.

Cost Structure

Key Resources

· Strategies that are both valuation and price

· The business invests in its workers via bonuses, loyalty programmes, and other benefits.

· Financial resources

· Human resource

· Technological resources

Objectives of the business

The company policy’s goal is derived from the concept of providing essential goods to everybody at a reasonable price so that they may easily access those (Sjödin et al., 2020).

  • Eateries’ goal is to build a committed and healthy client base by providing a portion of high-quality food at a competitive pricing point.
  • To capture the attention of a wide section of consumers via marketing, in order for them to establish a firm foothold in Nepal’s marketplace.
  • Additionally, their goal is to provide a nutritious and glutton-free diet to all of their clients, ensuring that they never go without food and, when they do, that replacements are always accessible (World Health Organization, 2021). In this manner, restaurants can maintain existing consumers while also attracting new ones. This will result in the growth of the company.

2. Nature of the Business

2.1 Offered Products

Eateries, as a food service establishment, will mainly sell a diverse variety of food supplies, both fresh and packaged, as well as gluten-free items. It will resemble a bigger version of a traditional grocery store, and will actually be a self-service facility with a wide variety of food products. These items will be sold at Eateries at comparable pricing to other food shops in Nepal’s local farmers market (Fajardo et al., 2020). Alongside, this particular venture will serve the products with both offline and online processes. The business will mainly focus on gluten-free foods because; in Nepal, people are enough health-conscious. Alongside, junk foods are not proffered by everyone, especially in the aged group. Due to this concern this particular venture will only provide fresh and gluten free foods that will captivate the customers easily.

2.2 Prioritizing potential Customers

Eateries will be a combination of liberal ideology and commercial marketing, therefore it goes without saying that its vision and objectives will centre on the concept of feeding all according to their taste, preference, and range (Markey, 2020). Their objective will be congruent with the effort to develop a robust and big client base, and they will do this by servicing every client according to their specific needs. The law will not determine how much assistance consumers would get from workers, but rather how the term “consumer” will be defined. Consumers will be drawn to them because of their strategies of “priced lower and providing better.” The business will run a robust marketing campaign to publicise its offerings so that Nepalese consumers are aware of them and may take benefit of their services and goods. This venture will promote its services for all ages of customers and will tend to make them happy with the taste of delicious food.

2.3 Business with a Difference

In the competitive global market, every business has to employ something innovative and unique that makes it attractive for the customers. The uniqueness of the business is work as an innovative wheel that enables it to drive the whole business prominently and captivating path (Botelho et al., 2021). Regarding this concept, this particular business will focus on the innovation that will make it captivating among the customers in Nepal in the competitive market. Eateries will be able to stand in front of Nepalese consumers because of their distinctive selling price. It will also emphasise the importance of displaying Nepalese culture in the shop so that all consumers, whether local or foreign, are captivated by the shop’s design, product offerings, and relaxing atmosphere, which will successfully influence consumers to purchase more.

This specific business will use methods such as lower pricing (Zhang and Jakku, 2021), the collection of high goods, necessities from international markets, excellent staff operations, and incentives such as rebates, fortunate draws, and competitions. There are several shops that provide similar services, but this food business will stand out since no other store will ever be able to emulate the expertise, the variety of high-quality goods at a lower price, or the atmosphere that is planned.

3. Market Analysis

3.1 Target Market

Customers will be found using “demographic segmentation” to simplify the company’s financial performance. Eateries will primarily target consumers between the ages of 24 and 35, as well as clients in the age ranges of 35 to 50 from the elderly. They will offer all of the healthy and delicious glutton-free meals accessible (Strobl, Bauer and Matzler, 2020).

PEST analysis:

Political:

In Nepal’s present situation, political issues will have a significant impact on restaurants. The unpredictability of Nepal’s political environment, which has resulted in conflicts, strikes, and, a number of other problems, will have an impact on Eateries’ operations. In the worst-case situation, this restaurant would have to shut for those performances (Alava et al., 2018).

Economic:

Eateries will have to keep their pricing strategy that is consistent with the countries and worldwide financial fluctuations in order to stay in business (Shpes, 2020).

Social: The Nepalese culture is well-versed in the habits of food shopping and eating. People like going to neighbouring businesses to buy and dine. The presentation of Eateries’ value and savings concept to its customers, as well as its desire to expand, will be good indicators of the nation’s progress (Alava et al., 2018). Therefore, this culinary venture will be successful if it is flexible to cope with culture and please its customers.

Technological: It will be able to operate and service customers quickly and correctly thanks to the use of processors, invoicing devices, and a range of other advanced technology. As a result, it may be upgradable with the competitors if it proceeds to adopt new technologies.

3.2 Marketing and Distribution Channels

On behalf the promoting the business this particular food venture will effectively use social media platforms. In the era of globalization, it is quite common to use social media for business promotional activities (Lei, Nicolau and Wang, 2019). The use of social media will help to create a better awareness among the customers in Nepal. And, since they want to establish a grocery store, they will utilise the direct distribution method, which will fit them superior.

3.3 Competitors

Strength

Weakness

· A competitive pricing plan will help businesses stand out from the competition (Vlados, 2019).

· Compensation of services

· Good quality ambience

· Excellence products

· Bounded by many other potential rivalries in the local market.

· The project is for the long term.

Opportunities

Threats

· Big customer base in the local market

· Clients from several sections

· Possibility of standing out among competing businesses as a result of the methods mentioned.

· High competition from several existing food businesses alongside threats will also come from the new entrants.

· A great disaster condition will come from the coronavirus pandemic situation.

4. Supply Chain, Operations and Logistics

Eateries will keep excellent relations with their different suppliers and acquire the items they want to sell on a daily basis, ensuring that they never run out of stock or run out of supplies. They will store the goods in storage warehouses from which they may refill and resupply their grocery shop, allowing them to deliver the products to consumers anew. In that case, the company will also use the social media platform for expanding the advertisement to others that help to enhance the logistics centres (Batista et al., 2018).

4.1 Human Resource Planning

Recruitment

Human resources will have specialised HR recruiters devoted to finding potential workers with the appropriate skill set, depending on the degree of expertise and seniority of the positions being fulfilled (Hani, 2021).

Induction

This food venture will establish an attractive atmosphere that can help the staffs to work with a positive flow of works. The management of this entity will be designed the job schedule in a suitable way that will be appropriate for the staff.

Working Environment

Along with the beauty of Nepal, this food venture will formulate proper environmental aspects that will help to build a proper working environment for the staff in the food shop (Mansaray, 2019).

Staff Relations

The company will always build a good and potential relationship with the staff. They always try to motivate the staff for working hard. It will be better for the workplace to drive the whole operating system in a proper manner.

Staff Development

The management will also provide the appropriate training sector for the employees that will help them to enhance their skills as per the policies of their duties (Mansaray, 2019). In that manner, this food venture will always provide the best solutions for the employees to develop them.

5. Legal and Regulatory Requirements

This food venture will follow all the norms as per the legal policies of the business in Nepal. In that case, The Property papers, tax certification, Permanent Bank Account (PAN) registration, and Added Value Tax (VAT) registration are all needed for this company trade licence. In addition, they must keep track of their tax documents (Kruzhilko et al., 2020). However, numerous difficulties will arise as a consequence of Covid-19, since many government agencies are only partially accessible, making it difficult to organise all of the papers at once, resulting in a lengthy process.

6. Risks and Challenges

In the operating process of the company, it will face a lot of obstacles that may cause disruption. Regarding this matter, it can be said that the pandemic situation in coronavirus is considered now an apex topic. Therefore, lockdowns and local governmental rules for social distancing may a reason for the great flow of the business (Kumar et al., 2021). To recuperate from these events, the store should create a preparedness plan that includes putting sanitization stations throughout the store and giving masks, hand gloves, and shoe coverings to each client to designate them as secure. On the other hand, from the SWOT it has been evaluated that, in Nepal the competition level is high. Due to the high level of competition the company may face great pressure of rivalry.

They have already depended heavily on skills to make sure their individuality in the Nepali market, including providing a comfortable journey through the demonstration of a rich and huge societal atmosphere, innumerable prizes, gifts, coupon codes, and extra goodies, but they can also organise for free delivery and 24x7 provider.

7. Financial structure of the venture

7.1 Financial Needs for Eateries

Establishing a business endeavour to establish a shop or store requires a substantial investment, depending on the company’s size. The financing for the suggested Eateries business is done for a variety of operations, which start with registering but include shopping experience, employer branding, event marketing, renting or leasing a location for the store, purchase decisions for stock, and technical devices such as a cash register, CCTV cameras, and payment processing.

Financial Forecast

Cost, Revenue and Profit for 2021 (NPR)

Registration

16,000

Renting or Leasing a Place

35,000

Store Design

42,000

Recruitment and Promotion

21,000

Product for Stock

50,000

Technological Equipment

4,000

Estimated Cost

1,68,000

Estimated Revenue

2,00,000

Estimated Profit

32,000

7.2 Break-even Point

Eateries will start with a full start-up cost of about 1, 68,000 NPR, which includes all of the above-mentioned areas of investment. The supermarket has sold all its food products worth 2, 00,000 NPR in 1 year. The average selling price of groceries and non-food items is 40 NPR. Each item has a variable cost of 20 NPR. Hence, the overall profit from each product is 40-20=20 NPR. Eateries intend to sell 1, 68,000/20=8,400 units of goods in order to break even. If the business sells about 1000 items each month, it will need approximately 8400/1,000= (8.4) 9 months.

7.3 Funding for the Business

Once Eateries has identified the funding commitments for the company’s begin and established an estimate for cost, revenue, and profit, the company will need financing to meet different criteria. There are many types of business-friendly financing available to help businesses maximise their finance, including small business administrator (SBA) loans, transfer the payment, the segment provides, and bank cash credit. Based on the firm’s needs, Eateries may qualify for a business credit line, an ideal instrument for meeting the corporation’s demand for a grocery store loan (Chakraborty and Hu, 2006). These loans are distinct from credit card payments in a number of ways. A lender may provide a line of credit, and rather than requiring the company to take payment on loan approval, Eateries may draw on all or a portion of the loan’s full sum.

8. Key Milestones

Objectives

Time

Obtaining High-Quality Products at a Reduced Price

Promoting the Business to Reach Customers

Acquiring a large customer base

Replenishment of Stock with Replacement Products to Ensure Ongoing Customer Support

September ‘21 – October ‘21

01.09.2021 – 31.09.2021

       

01.10.2021 – 30.10.2021

       

November ‘21 – December 21

02.11.2021 – 31.11.2021

       

02.12.2021 – 31.12.2021

       

January ‘22 –June’22

01.01.2022 – 30.01.2022

       

01.02.2022 – 31.02.2022

       

01.03.2022 – 30.03.2022

       

01.04.2022 – 31.04.2022

       

01.05.2022 – 31.05.2022

       

01.06.2022 – 30.06.2022

       

Estimated Cost

45,000

7,000

-

11,000

9. Conclusion

A business strategy has been designed for the establishment of Eateries, a food company in Nepal. The food shop is being established with the goal of providing high-quality food products which is gluten free at a reasonable price in order to build a big and loyal customer base. All necessary marketing plans, planning for human resources, supply chain; management, finance, laws and regulations, and risk and challenge assessment have been completed in this context, along with the establishment of important milestones for the goals.

 

References

Alava, R.P., Murillo, J.M., Zambrano, R.B. and Zambrano Vélez, M.I., 2018. PEST Analysis Based on Neutrosophic Cognitive Maps: A Case Study for Food Industry. Neutrosophic Sets and Systems21(1), p.10.

Batista, L., Bourlakis, M., Liu, Y., Smart, P. and Sohal, A., 2018. Supply chain operations for a circular economy. Production Planning & Control29(6), pp.419-424.

Botelho, D.F., Dias, B.H., de Oliveira, L.W., Soares, T.A., Rezende, I. and Sousa, T., 2021. Innovative business models as drivers for prosumers integration-Enablers and barriers. Renewable and Sustainable Energy Reviews144, p.111057.

Chakraborty, A. and Hu, C.X., 2006. Lending relationships in line-of-credit and nonline-of-credit loans: Evidence from collateral use in small business. Journal of Financial Intermediation15(1), pp.86-107.

Fajardo, V., González, M.P., Martínez, M., Samaniego-Vaesken, M.D.L., Achón, M., Úbeda, N. and Alonso-Aperte, E., 2020. Updated food composition database for cereal-based gluten free products in spain: Is reformulation moving on?. Nutrients12(8), p.2369.

Hani, J.B., 2021. The Impact of Human Resource Planning (HRP) in Achieving the Strategic Goal of the Firm With the Moderating Role of Organizational Innovation. International Journal of System Dynamics Applications (IJSDA)10(4), pp.1-22.

Joyce, A. and Paquin, R.L., 2016. The triple layered business model canvas: A tool to design more sustainable business models. Journal of cleaner production135, pp.1474-1486.

Kruzhilko, O., Maystrenko, V., Polukarov, O., Kalinchyk, V.P., Shulha, A., Vasyliev, A. and Kondratov, D., 2020. Improvement of the approach to hazard identification and industrial risk management, taking into account the requirements of current legal and regulatory acts. Archives of Materials Science and Engineering105(2).

Kumar, A., Mangla, S.K., Kumar, P. and Song, M., 2021. Mitigate risks in perishable food supply chains: Learning from COVID-19. Technological Forecasting and Social Change166, p.120643.

Lei, S.S.I., Nicolau, J.L. and Wang, D., 2019. The impact of distribution channels on budget hotel performance. International Journal of Hospitality Management81, pp.141-149.

Mansaray, H.E., 2019. The Consequence of Human Resource Planning on Organizational Performance: An Ephemeral Review. Britain International of Humanities and Social Sciences (BIoHS) Journal1(2), pp.50-61.

Markey, R., 2020. Are you undervaluing your customers. Harvard Business Review1.

Obschonka, M., Silbereisen, R.K. and Schmitt?Rodermund, E., 2012. Explaining entrepreneurial behavior: Dispositional personality traits, growth of personal entrepreneurial resources, and business idea generation. The Career Development Quarterly60(2), pp.178-190.

Shpes, D., 2020. The Optimal Tool for Assessing the External Environment of Industrial Enterprises-PEST-analysis. In ???????????? ???????? ?? ??????? ??????????? ? ?????? ?????????????????? ???????????. ?????????? ???????????? ??????????? ??. ???? ????????.

Sjödin, D., Parida, V., Jovanovic, M. and Visnjic, I., 2020. Value creation and value capture alignment in business model innovation: A process view on outcome?based business models. Journal of Product Innovation Management37(2), pp.158-183.

Strobl, A., Bauer, F. and Matzler, K., 2020. The impact of industry-wide and target market environmental hostility on entrepreneurial leadership in mergers and acquisitions. Journal of World Business55(2), p.100931.

Vlados, C., 2019. On a correlative and evolutionary SWOT analysis. Journal of Strategy and Management.

World Health Organization, 2021. Safe and healthy food in traditional food markets in the WHO European Region, March 2021 (No. WHO/EURO: 2021-1854-41605-56825). World Health Organization. Regional Office for Europe.

Zhang, A. and Jakku, E., 2021. Australian Consumers’ Preferences for Food Attributes: A Latent Profile Analysis. Foods10(1), p.56.

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