Discuss about the Opening a Restaurant in Sydney.
Opening a new business is always characterized by various challenges. To ensure that this phase has the least effect on the new business, it is important to put in place the right considerations and strategies (Collings and Wood, 2009). Some vital factors to consider include the location, target market, availability of infrastructure and proximity to the raw materials and hence the suppliers (Daft and Armstrong, 2009). In addition, there is the vital need to consider the government policies and council laws governing business operations in the targeted location. In this report, we analyze then laid strategies intended to anchor the starting of Nepalese Fusion Restaurant. The main business objective involves serving clients from different walks of life with good quality foods, freshly made drinks and beverages (Griffin, 2010). This report shall entail a step by step record of what the management intends to implement in order to achieve its core objectives. The work shall then be summarized by outlining the viability and practicability of the new business idea with reference to the factors mentioned above.
Mission
The mission of Nepalese Fusion Restaurant is to offer the people of Sydney high quality fast foods, drinks and beverages at competitive prices in addition to maintaining good customer relations.
Vision
The vision of NFR is to be one of the leading suppliers and providers of delicious foods and awesome drinks and beverages not only to the indigenous people of Sydney but to all people in the City and beyond.
Goals and Objectives
Location and Suppliers
In addition to the fact that Sydney is the state capital of New South Wales, it is considered as one of the most populous cities in Australia (Harper, 2009). Demographic reports indicate an even distribution of not only the indigenous people of Sydney but a good number of foreigners inhabiting the city as workers in various organizations. In order to harness the merits associated with the relatively high population, Nepalese Fusion Restaurant shall be located along one of the streets which gives a good link between the central business district and the Sydney harbour. This location was chosen due to its good proximity to the target customers which enhances the market for the business’ products and services. The location was also picked on due to the good infrastructure around the region. This would go a long way in enhancing easy movement of raw materials into the restaurant, movement of clients in and out of the premises as well as the supply process in case of home deliveries. The restaurant’s nearness to the harbour would be an added advantage due to the available option of using water transport for supply of products and reception of raw materials. Furthermore, the workers at the harbour and the visiting tourists shall serve to increase the potential market base of the restaurant.
The restaurant shall depend on the services of various suppliers including; soft drink producers, fruits and vegetable suppliers and other raw materials which will then be finished locally within the restaurant. The fruits supplies shall be used to make salads and fresh juices to be sold to the clients at affordable prices. Supplies shall mainly be done through road and water transport, the latter being useful due to the restaurant’s proximity to the harbour. In order to create an appropriate balance, the frequency of supplies shall majorly be pegged on the level of need and demand. These strategies ensure the occurrence of minimal losses and reception of raw materials which the business might not necessarily require. To enhance consistency, the restaurant management shall seek to work with similar suppliers for a given period of time. The business-supplier relations shall be based on specific targets. If the interaction with a particular supplier meets the laid targets then they will be included as long lasting partners to the business.
Hiring Strategy
For effective organizational performance, there is an inevitable need for quality performance and good service delivery (Norman, 2013). As such, NFR will seek to work with the most skilled and dedicated workforce. As a hiring strategy, interview sessions shall be announced and arranged for the successful applicants. Those with prior experience and knowledge on hospitality management shall be highly considered for the top posts. The employment shall be on contractual basis and the agreements shall be renewed based on the rate of achievement of specific targets. As suggested by Giddens (2008), the employees shall be taken through further training in the initial stages in order to expose them on the mission, vision and objectives of the organization. As a follow up procedure to the rigorous hiring process, the new employees shall be exposed through exhibitions, conferences and various platforms where they can horn their skills in line with the responsibilities allocated to them.
Target Customers and Advertisement
As hinted in the organization’s mission and vision statements, Nepalese Fusion Restaurant intends to capture customers from all walks of life. The primary target market includes the people of Sydney both operating within the CBD and the harbour. However, the business shall also use online platforms to reach out to clients who can then make their orders via these platforms before an immediate delivery is arranged. The process of door-to-door delivery shall be carried out majorly through vans and bikes. This strategy would be pivotal in enhancing the level to which the business shall penetrate the market. Using various media for instance television and the social media, the business intends to maintain closely knit ties with the clients to ensure their satisfaction. In addition, Nepalese Fusion Restaurant shall harness the provisions of technology to enhance its operations and also engage in e-Commerce. The customer feedbacks from the various platforms shall be used to consider the areas in need of adjustments and hence ensure a holistic performance by the business.
In order to increase the popularity of the restaurant beyond its central location, the management has put in place numerous advertisement strategies (Murray, 2014). For instance, the business shall use the online platforms, television and billboards to improve the public’s awareness about the products and services offered. The business also intends to use the monthly business articles to advertise its products and services to the readers not only in Sydney but all over the country.
Cost Estimation
The business intends to set off the project with a budget of $100,000. The amount shall be disseminated to cover various elements for instance initial package of worker remunerations, purchase of equipment, renovation of the building and payments on registration and licensing requirements. This amount is to be divided based on a guiding ratio in order to ensure that each phase is adequately funded. The capital shall be sourced from accrued savings in addition to a business loan. For the subsequent years, the business shall majorly depend on the profits made to enhance the financial maintenance. To achieve this, both the workers and managers shall operate with their focus on specifically set targets which when achieved shall attract constant rewards (Pankaj, 2011). This strategy is not only meant to increase the return on investment but also ensure proper motivation of the human resource.
Legal Requirements
Before setting up the business, the right considerations shall be made in order to ensure that the intended strategies are legally compliant. A prior understanding of the government policies on business operations within the CBD, pollution and pricing shall be vital. In addition, the Sydney council laws shall be adequately factored in hence ensuring that no procedure goes against any of these requirements. For instance, the government policies are stringent on pricing hence the business shall constantly review its pricing policies and ensure that they are aligned with the legal requirements. At the same time, Sydney council laws emphasize on environmental conservation hence the operations of NFR shall be keen on maintaining healthy standards. As a measure to ensure compliance with the legal requirements, the first step shall involve registration of the business in order to obtain the government permits. This permit shall be useful in defining the business’ scope of operation which in turn eliminates any issues with the authorities.
Summary of procedure and Conclusion
The process of starting the business shall be based on the design summarized below
With the strategies outlined above, Nepalese Fusion Restaurant is bound to be a successful venture. This is because the high population provides a ready market which is one of the major factors worth considering before starting a business (Florida, 2014). Through the effective hiring strategies, the human resource department shall comprise dedicated and competent personnel. This would enhance quality service deliver which when added to good customer relations shall enhance customer loyalty.
References
Bernhard, H. (2008) ‘Six lessons for the corporate classroom’. Harvard
Business Review, 66(5), pp. 12-56.
Carliss Y. (2000) Design Rules: The Power of Modularity. Boston: Harvard Business School Press.
Cohen, M. (2008) ‘Productivity and Efficiency in Human Service Organizations as related to
Structure, size and Age’. The Academy of Management Journal, 23(1), pp. 21–37.
Collings, D. and Wood, G. (2009) Human resource management: London: Routledge.
Daft, R. and Armstrong, G. (2009) Organization Theory and Design. Toronto: Nelson.
Giddens, M. (2008) ‘Determining Organizational Effectiveness – another look, and an agenda for research’. Management Science, 32 (5), pp. 514 –538.
Griffin, T. (2010) ‘Information technology, strategic decision making approaches and
Organizational performance in different industrial settings’. The Journal of Strategic
Information Systems, 10(1), pp.101-119.
Florida, R. (2014) “The 25 most economically powerful cities in the world”. City Lab Journal, 2(2), pp. 12-14.
Harper, S. (2009) ‘Configurations of Organizational Effectiveness and Efficiency’. The
Academy of Management Journal, 36(6), pp. 1345—1361.
Murray, L. (2014) “Sydney’s niche in global finance”. The Sydney Morning Herald, 2(3), pp. 23-29.
Norman, T. (2013) ‘Personnel training and development’. Annual Review of Psychology,
22(1), pp. 565–602.
Pankaj, G (2011) Cases on Redefining Global Strategy. Harvard: Business Review Press.
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