Business Studies
Your Block 1 for your Business Plan will require that you develop the following objectives which will be an integral part of the first five sections of the business plan. As a model and guide use the “table of contents” for “The Daily Perc” Business Plan on pages 490-522 for Edition 3 & for Edition 2 pages 50-73
(The Chapters related to this Block 1 are 1,2 and 3)
1.0 Executive Summary
1.2 Keys to Success
2.0 Mission, Vision, and Culture
2.1 Mission
2.2 Vision
2.3 Culture
3.0 Company Summary
3.1 Company Ownership
4.0 Market Analysis Summary
4.3.1 Competition and Buying Patterns
5.0 Strategy and Implementation Summary
5.2 Competitive edge
ANSWER
Ketcan Indian Dishes
Business plan
1.0 Executive Summary
Ketcan Indian Dishes will be a restaurant based in Chicago. Traditionally, the capital of Chicago has always been described as the unhealthiest city in the United States (Yeh, 2016). The city is famous for many fast food joints, selling fries, chicken and burgers (Mai & Selvam, 2017). This creates a market gap for better and nutritious food and a window of opportunity for authentic and traditional Indian dishes. According to xxx, the growth of diverse minorities in Chicago creates an opportunity for restaurants to thrive. The top 5 immigrant communities found in Chicago are Mexicans, Polish, Indian, Filipinos and Chinese (Patel, 2019). There are already well established Mexican and Chinese restaurants in the city, but Indian restaurants are not as popular. Therefore, Ketcan Indian Dishes will be established in the city and seek to exploit such opportunities. Upon realization of success, various branches shall be opened within the city in the long haul.
1.2 Keys to success
The keys to success in Ketcan Indian Dishes will be based on the ability of the restaurants to cook healthy and authentic food that the city has been lacking for a long time. The restaurant shall incorporate authenticity, hospitality and convenience as the pillars of success. There shall also be free delivery for our customers, thereby enabling us to reach a wide range of people seeking delicious and healthy food.
2.0 Mission, Vision and Culture
2.1 Mission
To transform the reputation of Chicago by promoting and providing healthy, traditional and cultural delicacies.
2.2 Vision
Ketcan Indian Dishes aspires to be the leading, cultural-based restaurant, creating a lingering story in the souls of the Chicago people.
2.3 Culture
A culture that brings home close to heart, as with every bite, brings good memories and a feeling of togetherness.
3.0 Company Summary
3.1 Company Ownership
The restaurant will provide 5-star services welcoming people from all over the world. The company shall be run by me. The restaurant will also employ the best Indian chefs in the business, appoint a director and supervisor of operations. The company will also employ a sales marketing team as a promoting strategy. A board of directors comprising of 10 board members shall also be appointed to add more funding for business sustainability. The board of directors shall be responsible for making a decision based on expanding, and which cities to exploit and other crucial financial decisions. I will run the business as both the owner and head chef.
4.0 Market Analysis Summary
4.1 Competition and Buying Patterns
Competition is stiff in Chicago for the existing Indian restaurants. The top three Indian restaurants in Chicago include Pub Royale (Ukrainian Village), Cumin (Wicker Park) and Mango Pickle (Edgewater) (Runise, 2021). Each restaurant has unique and signature dishes that attract people and set them apart from each other. The buying patterns are reliant on the preference of customer’s tastes. A restaurant like Mango Pickle, which is regarded as the best restaurant in Chicago, cooks depending on the season. The lack of consistency, however, is the competitive edge that the Ketcan Indian Dishes will seek to exploit.
5.0 Strategy and Implementation Summary
From my experience, I will use my signature dishes to attract VIP customers who will always be reserved seats, with openings beginning from 6 pm. The marketing team will be required to visit Indian Track foods and interview the local people on what kind of Indian dishes they prefer. I believe that going back to the grassroots and common people brings fresh, authentic and new ideas that will be helpful for the business. The company will also have six months short term objective. Six months will be sufficient to analyze our operations, sales, and the response from the public regarding which dishes they preferred and which ones did not meet their expectations. Our implementation will be based on such kinds of responses and analysis.
5.2 Competitive Edge
Ketcan’s main competitive edge will be our ability to relate with the local people, even though our services will be first-class. We will aspire to connect the whole community with the restaurant so that even if some people will not be able to afford it, the restaurant will be a focal point of unity for the people of Chicago.
References
Mai, J &Selvam, A. (2021). Chicago’s Most Iconic Dishes. Retrieved from https://chicago.eater.com/maps/iconic-food-chicago-list-classic
Patel, (2019). More than a meal: The diversity of Chicago eats. Retrieved from https://uhighmidway.com/5316/indepth/more-than-a-meal-the-diversity-of-chicago-eats/
Runice, J (2021). Best Indian Restaurants in Chicago- where to find authentic, awesome Indian food in Chicago. Retrieved from https://www.10best.com/destinations/illinois/chicago/restaurants/indian/
Yeh, H. Y. (2016). Classification of Edibility and Inedibility: Unveiling the Sociomental Logics beneath Food Habits. Theory in Action, 9(4).
