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The restaurant that will be presented in this paper is called Joe’s restaurant which will be a 90-seat fine-dining restaurant. The restaurant will focus on Australian dishes as well other different cuisines from across the world. The restaurant will be located on the outskirts of Melbourne in a bid to give customers the fine-dining experience that they need far from the hustle and bustle of the city. This location is optimal because it is on the way to some of the cities’ most exclusive neighborhoods and its environment is also calm with very many trees that make the place look wonderful.
The restaurant will be open every day of the week. It will provide fine-dining in a cozy atmosphere, and it will also offer special theme nights in a bid to increase its customer base. The business will also invite notable Australian artists to entertain the customers. To make the restaurant look good and make the people feel calm and relaxed, there will be; different artwork displayed on the walls, candles, soft music, fresh flowers, and warm colors.
The restaurant’s management team will be adequately trained to ensure that they provide excellent customer service to make sure that they leave customers feeling relaxed. The restaurant will offer a sizeable international menu from which the customers can select the foods and beverages that they want. It will also host different events such as birthday parties and wedding receptions. The restaurant targets to have a total sales allocation of eighty percent of the company’s sales and twenty percent of the catering sales. (These statistics have been obtained based on the current performance of other high-end restaurants in the country).
The most critical factor to the owners is the financial success of the business which they anticipate will come about through the provision of excellent food, high-quality customer service, and the provision of different cuisines from across the world. One of the founders, Joe is a chef who has had experience in the restaurant industry for about ten years. During this time, he has worked in different restaurants across the world which have enabled to master various dishes popular in nations around the globe. He will, therefore, aid in the provision of both Australian and foreign cuisines that will be served in the restaurant.
Omari, the second partner, is not experienced in the culinary world, but he has experience in running business operations. He has worked in different companies in various levels ranging from the manager, chief technology officer, and chief executive officer. He recently left his job to begin working on his life-long dream of running his own business. With his knowledge and experience in leadership and management, he will be able to lead the firm and run operations to make sure that the restaurant is profitable and attaining its set goals. Additionally, he will bring in technological advancements to streamline the company’s operations and ensure that it operates optimally.
The two partners have each contributed $50,000 to the company and are seeking funding to meet their start-up budget of $200,000. They are willing to give up 35% equity of the business to investors.
To be the leading provider of exciting and excellent food, combined with a warm and intriguing atmosphere, as well as excellent customer service, which leaves customers wanting more. The restaurant will be a choice for all people and will promote diversity. The employees will be treated with utmost respect and fairness. All stakeholders will feel that they are a part of Joe’s restaurant experience.
To provide high-quality international cuisines and excellent customer service, as well as the best dining experience for our customers.
The restaurant aims to keep its food costs to under 25% of the total revenue. Additionally, it will market its dining experience across the country and internationally to ensure that even foreigners and tourists who come to the country know that this is the go-to spot for the ultimate dining experience. The restaurant also aims to expand its operations after three years and start opening locations in different parts of the country, and ultimately commence selling franchises to other business owners. Finally, it seeks to achieve 15% returns on investment to its investors during the first three years of operations and expand to 25% from the third year once it starts opening more locations.
Joe’s restaurant will have three elements that will give it a competitive edge. First, it will provide a variety of products that are of high-quality as well as an innovative and unique fine-dining experience. The company will offer cuisines from across the world which will attract both the locals and the foreign clientele. Second, the restaurants will have different theme nights which will be varied to suit the varied clientele in the restaurant. Finally, it will provide high-quality customer services which will make clients feel warm and welcome.
The company will serve lunch and dinner every day of the work and provide brunch on Sunday in addition to the usual lunch and dinner meals. The restaurant will also feature a new drawing or painting artist from an up and coming artist who is not well known in the country on a monthly basis. On such occasions, the restaurant will send out unique invitations for the night which will attract different newspaper employees and even more people. This will aid in growing the company’s public relations and promoting the brand.
The company will change its menu every four months. However, even when changing the menu, the business will retain the customers’ favorite dishes. The wine list will not be very extensive, but it will consist of very high-quality wines from Argentina, New Zealand, France, and California. About 30% of the total wines available will be available by the glass while the other 70% will be provided with the bottle. Joe’s restaurant will also provide an international beer selection that will be provided either in bottles or on tap. The restaurant will also have a softly lit bar that will offer single malt scotches, homemade Aquavits, and some of the finest vodkas.
Joe’s restaurant will have three main strengths. First, it will provide high quality foods and beverages. It will also provide excellent customer service. Finally, the restaurant will offer different cuisines to reach a diverse market and continually consider its clientele’s feedback when changing the menu. The restaurant’s weakness is its lack of finances at the moment which will be overcome when it gets investors. The major opportunities will be the restaurant’s expansion internally by opening different restaurants across the country, and the sale of franchises over time. Finally, the company’s weakness will be the increase of competition in the industry.
By the use of big data and analytics, it has been established that this business venture is viable and feasible. First, there was an analysis of the performance of other upscale restaurants in the Melbourne area in Australia. One of the major upscale restaurants in Melbourne is Attica. On average, the restaurant sells its food at $250 per person and its wine costs $150 for each customer. The restaurant has a massive waiting list, and anyone who wants to dine there will need to wait for at least three to four months. Another major restaurant in Australia is Brae, located in Victoria. It was named as one of the top one hundred restaurants in the world, and it is very profitable.
Sepia is another high-end restaurant in the country, and it currently has a three-month waiting list. From the statistics, it is clear that the high-end restaurant industry is in high demand and low supply, and they are also very profitable. With the provision of high-quality food products and the excellent customer service, as well as the warm and beautiful ambiance, coupled with proper management techniques, the restaurant will become a success not only in Melbourne but also in other parts of Australia.
Joe’s restaurant will be designed in the form of a lounge and a restaurant with a patio where people can enjoy the sun during summer periods. The restaurant will have soft music at all times and the colors painted will be warm, and there will always be fresh flowers on each table at all times. The company will offer an Australian menu consisting of different Australian staples that will be very well prepared by the chef. The facility will be designed in a manner that allows customers to enjoy the best environment based on the type of dining experience they want. Incidentally, there will be a part for customers who wish to enjoy an intimate meal. There will be two seats leather seats facing each other with a well-decorated table with fresh flowers, drinking water, and glasses.
Customers will book through the restaurant’s online platforms specifying the time they will arrive at the restaurant and by providing a reserve payment upfront. By the time the customers arrive at the restaurant, they will find a ready table, and there will be a hostess waiting for them as soon as they come in. In case they arrive a few minutes earlier, they will be provided with a seat at the bar, as they wait for their table to be prepared. The bar will be at the front of the restaurant with a variety of drinks. As soon as customers come into the restaurant, they will find a hostess who will immediately direct them either to their table or the bar based on the time they arrive where they will be served immediately. The restaurant will also have various fireplaces, and it will also be dimly lit to provide a warm and romantic feel. For family members and friends who may be willing to chat as they have their food, they will be directed to a different area where they will be able to have their food and discuss various issues without any influence.
Some of the foods that will be on the company’s menu include; for the entrée, the restaurant will offer; burnt onion broth, yellowfin tuna, seared scallops, prawn and lobster ravioli, glazed king salmon, and Borrowdale farm pork cheeks, among others. For the main dishes, the firm will offer foods such as buckwheat cavatelli pasta, kingfish keviche, pasture raised Milly hill lamb, twice cooked tinder creek duckling, Borrowdale farm pork neck fillet, and Geraldton king fish among others. The supplements and sides that will be provided include Taranaki wild caught john dory, iceberg salad with toasted walnuts, romesco dressing, and reggiano, among others. The restaurants will also offer desserts of different forms as well as cheese and chocolates. There will be both two course and three-course meals once the restaurant commences operations. After four months of service, the restaurant will determine the most preferred foods and introduce new cuisines and new dishes while still maintaining the most liked recipes. The restaurant targets to honor Australia’s incredibly varied history when it comes to food while always introducing new cuisines from places across the world. The restaurants will also take into consideration the nutritional properties of indigenous ingredients in a bid to make healthy foods while still ensuring that they are delicious and high quality.
Joe’s restaurant will make use of different marketing and advertising strategies. First, the company will make use of social media to advertise its products. According to Sisira (2011), organizations should not only use social media to inform people about their products. Instead, they should use it to connect with their potential and existing customers by communicating with them and asking for their feedback on various issues (Jeff, 2013). In determining the most appropriate marketing methods, marketing segmentation is critical. Gupta et al. (2018) define market segmentation as the process in which the potential customers are divided into groups based on various characteristics. This is vital since it aids to show the significant market segment that is purchasing the company’s products and marketing efforts are concentrated towards this segment.
Joe’s restaurant will target both locals and tourists who are seeking good food and a fascinating atmosphere. The target market segments are business people, couples, families, high-end singles, and tourists. Since Melbourne is a business city, the principal target customers are business people, followed closely by happy couples. This is depicted in figure 1 below.
The different social media platforms that the company will employ to market its products include; Facebook, Twitter, Instagram, LinkedIn, and Snap Chat. In Australia, the majority of people are on Facebook (Laaru & Mwaawaaru, 2009). Additionally, people like using Instagram to view photos from different entities (Leung, Sun, & Bai, 2017); (Olivier (2016) The restaurant will hence use these platforms massively in collaboration with the other sites. The company’s website will also be used to inform customers about the restaurant’s products and special offers.
To ensure that the marketing activities are productive, the firm will employ integrated marketing communication techniques. According to Shirish (2018); Triantafillidou & Siomkos (2018); Le, 2018), integrated marketing is a marketing concept that makes use of marketing strategies to optimally communicate a consistent marketing message in a bid to promote a company’s brand to its stakeholders. Alves, Fernandes, & Raposo (2016); Eriksson (2012) state that the use of integrated marketing communication will aid in improving a company’s brand and improving customer loyalty. The restaurant will hence use the different social media platforms to communicate the same message.
The company will also use television and billboards to advertise its products. It is crucial to diversify marketing strategies to ensure that the company maximizes its number of potential customers. The restaurant will also place the adverts strategically in areas where its target market segments are likely to view them such as in high-rise neighborhoods, in different places of work, and along the highway where there is a lot of traffic, for the billboards. The restaurant will also promote word of mouth marketing by rewarding customers who refer other customers to the restaurant by offering them free drinks or proving other incentives.
The production of food and beverages involves different methods that must be strictly adhered to, to ensure efficiency of the food and beverage production process. According to Kim (2013), the food and beverage production processes are the most critical of all restaurant functions. First, it is vital to create a food and beverage production schedule. The creation of the daily production schedules is essential to make sure that the manager is aware of both the staff and products needed to serve the expected customers adequately. It also aids in the maintenance of sale histories, the forecast of the targeted and expected sales levels and the buying and storage of the required food products and beverages.
Once the schedules have been created and inventory brought into the company, the employee timetables are created so that the production can commence without any issues. The products are issued to the necessary departments, and the rest of the inventory is put into storage. The food and beverage production areas are then adequately managed to ensure that they are clean and suitable to produce different products.
During the production process, it is vital to produce a little more food than the restaurant anticipates selling on that particular day to avoid shortages. For some foods and beverages, the production process begins once a sale is made to ensure that the food is hot and fresh and prevent food wastage (Jiju, Kumar, & ManeeshRae, 2007). For instance, if a customer orders a strip steak, this will only be produced after the order is placed. Conversely, a coconut cream pie will be produced before any customer requests it. To optimize the production process, Joe’s restaurant will make use of technology that will send the order directly to the kitchen for production or service to commence within a particular standard timeline. The production process can change based on the expected guests and the probability of running out of a specific product. The head chef oversees the production process and guides other employees on factors such as mixing and dosing as well as the pressure and the temperature required for the different products. The employees are also supposed to continually clean the working surfaces as the food and beverage production processes continue.
To optimize operations, there are different factors that Joe’s restaurant will consider during the production process. It will look at the sustainability costs such as water, waste, and energy costs to ensure that they do not become very high. It will also digitize the production process as much as possible to increase efficiency (MCB University, 2012). Additionally, the team will have a continuous improvement mentality to the operations. Finally, it will make use of historical and real-time data to minimize downtimes by employees as well as machinery. This will be achieved by the use of data and analytics.
For any organization to succeed in its operations, it needs to retain a motivated and confident staff. According to Saja et al. (2014); Prajogo & Sohal (2003); Pepper & Spedding (2010), organizations that have high employee turnover incur high costs and adversely affect the employees’ morale. It is therefore crucial for firms to implement a program for employee retention to ensure that the company’s key workers remain in the firm. This will improve the company’s performance and effectiveness.
Training is also crucial to any company since it enables its employees to gain the skills necessary to perform their tasks effectively. In today’s rapidly changing world, it is vital for organizations to continually train their employees on new technologies in a bid to remain competitive in their operations (Bamford & Greatbanks, 2005). Training and motivation both correlate to employee retention because employees feel that they are supported in their activities by their companies. Motivation is also vital because it enables employees to gain the morale to perform their roles and responsibilities (Ghobadian, Speller, & Jones, 2014). Motivation can be either be in the form of monetary or non-monetary rewards for employees who reach specific targets that have been set by the firm. Therefore, training, motivation, and employee retention are critical to any company, and they improve the company’s performance and the employees’ levels of satisfaction.
Organizations, especially in the hospitality industry need to follow certain quality management principles in a bid to ensure that the food and beverages offered are of high quality. A major principle of quality management is the systems approach (Seth, Deshmukh, & Vrat, 2005). This principle aims to improve organizational efficiency by identifying, comprehending, and managing the processes that are interrelated (Elshaer & Augustyn, 2016). The systems management principle is vital especially in processes that are continually developing and massively benefits companies.
The systems approach provides benefits to firms both in the short and long run. It gives confidence to the different stakeholders on matters such as efficiency, success, and reliability (Ferdowsian, 2016). Additionally, it enables companies to concentrate its efforts on the critical operations (Heino & Trang, 2017). Finally, it allows the firms to incorporate processes that will increase the company’s return on investment (Czuchry, Hyder, Yasin, & Mixon, 2017).
Therefore, to optimize the systems approach, firms should outline the different processes that enable the firm to achieve its goals. Next, it should create a clear plan on how the goals will be achieved, comprehend the relationships that exist between the various system processes as well as identify how they interrelate with each other to complete the system. The system should continuously be expanded and reviewed in a bid to identify any resource constraints before implementation of the various processes. This will make operations much more efficient which will consequently achieve continuous improvement and quality management in the place of work.
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