2. 2
BUSINSES PLAN “GRACE RESTAURANT”
TABLE OF CONTENTS
1. INTRODUCTIOCN…………………………………………………………………………………………………….……….…………….3
2. EXECUTIVE SUMMARY…………………………………………………………………………………………………………...……..3
3. COMPANY STRUCTURE……………………………………………………………………………………….………………………...4
3. OBJECTIVES……………………………………………………………….…………………………………….…..…….…….……………6
4. MISSION…………………………………………………………………………………………………………………….………………….6
5. VISION……………………………………………….…………………………………………………………………………………………..7
6. KEY SUCCESS………………………………………………………………………………………………………………………………….7
7. COMPANY SUMMARY……………………………………………………………………………………………………………………8
8. COMPANY STAR UP & LOLATION……………………………………………………………………………………………………8
9. OPERATION & SERVICE…………………………………………………………………….….…………………………………………9
10. MENU…………………………………………………………………………………………………..…………..…………………………9
11. MARKET ANALYSIS……………………………………………………………………………………………..……………………..12
12. STRATEGY & IMPLEMENTAIN………………………………….……………..………………………………….……………..12
14. SWOT ANALYSIS……………………………………………..………...………………………………..…………………………...12
15. PEST ANALYSIS……………………………………………………………..…………………………….……….……………………13
16. SALES STRATEGY………………………………………………………..…………..…………………………………………………15
17. MARKETING MIX………………………………………………..…………………..…………………….………………………….16
17. FINANCE………………………………………………………………………………….….……………………………….…………..17
18. MANAGEMEN TSUMMARY…………………………………………………………………………………….……………….20
19. MANPOWER……………………………………………………………………………………………………….……………………21
3. 3
20 WHAT WE WANT TO ACHIEVE IN THE LONRUN…………………….……………………………….…..…………….22
21. CONCLUSION……………………………………………………………………………………………………………………………22
22. REFERENCE………………………………………………………………………………………………………………………………23
BUSINSES PLAN “GRACE RESTAURANT”
INTRODUCTION
Grace Restaurant was founded and registered under Ghana Companies Act, 1963(ACT 179) by me
and my wife in 23 December, 2014. Company Head Office address; P O Box MD-149, code 234
Medina Accra Ghana. This Business idea was conceived and inspired after successful completion of
my MBA program at Unicaf University Malawi with the relevant business experience gain from
working with Odo Rice Ghana, McDonalds Saudi Arabia and KFC Canada. My wife bought the idea as
soon as I communicated to her subsequently gave rise to the establishment of food business. We
provide quality and healthy local food, grill burgers and Continental side orders. Delivery service is
also provided. Our products and services are designed to suit the need to satisfy hunger and thirsty
of citizens and expatriates living and working in Ghana particularly Accra. The Business is located in
Accra-Ghana with one office at Medina and three branches namely Kasoa branch opposite National
Investment Bank, Circle branch adjacent to City Light Cooperation and Cantoment branch near
Aseda Kicking.
OUR MOTTO: GRACE RESTAURANT!! WE SERVE THE BEST
EXECUTIVE SUMMARY
Industry trends are used as a basis of planning cost of the business.
Business plan is developed through complete result of Secondary market analysis.
To ensure that the business is well financed, buffer is considered in the start-up cost.
I have examined the traditional and non-traditional risk involved in the restaurant
failure.
Hiring of experienced staff.
4. 4
BUSINSES PLAN “GRACE RESTAURANT”
COMPANY STRUTURE
Structure of a Company is the hierarchical framework within which line of authority
communication, right and duties and departments are arranged. The structure
shows how powers, rolls and responsibilities are distributed. It also regulates and
coordinates the flow of information between management levels. “Hopp C., Green F.
J. (2018)”
Company structure of Grace Restaurant
General Manager:
Our General Manager is the head and in charge of the Business. He defines clearly the
vision and mission of the Restaurant and formulates policies and strategies to achieve them.
Operation Department:
GENERAL MANAGER
ACCOUNTING
DEPARTMENT
HUMAN RESOURCE
DEPARTMENT
IT
DEPARTME
NT
OPERATIONS
DEPARTMENT
PURCHASING
,MARKETING & SALSES
DEPARTMENT
5. 5
It is responsible management of materials, process and workforce to ensure that high
quality of products and services are always maintained.
BUSINSES PLAN “GRACE RESTAURANT”
Human Resource Department:
This department of Grace Restaurant takes care of workforce recruitment process. It designs
job description, affaires of manpower and use of strategic employment process to hire a
qualify candidates to fill various vacancies in the organization.
Accounts Department:
Department of accounts is headed by charted Accountant. It plays the role of stewardship in
the company. It accounts for all the activities, preparation of business reports and
statement such as income statement, statement of financial position, cash flow statement
and others for owners, management and other users of information to know how well our
Business is doing so that appropriate decisions can be made.
Information Technology Department:
This department is responsible for the management of server, computers and accessories,
ERP software, securities applications and all other it issues in the copay.
Purchasing Department:
This department of Grace Restaurant is responsible for materials procurement
management. It is mandated to research and regulate the restaurant buying decision. This
department finds the right suppliers of materials, prepares quotation, orders and making
sure that the right price, quantity, quality of materials and receiving at right time are always
intact.
6. 6
Marketing and Sales Department:
This department assists in formulating and implementation of marketing and sales strategy
of Grace Restaurant Company. It is responsible for market research, promotion, customer
service and retention as well as in charge of all other marking and sales activities carry out
by the Organization.
BUSINSES PLAN “GRACE RESTAURANT”
OBJECTIVES
Ensuring the food cost is always less than 35% of revenue.
To make the concept of the Grace Restaurant out-standing in the industry.
Continue in expanding customer base through strategic marketing and
advertising in Accra.
Customer Satisfaction.
Promoting healthy and environmental safety.
Enhancing home delivery service across vicinity.
Employee’s skill Development.
MISSION & VISION
7. 7
MISSION
We provide quality food and timely delivery of service to our
customers.
Maintaining employees commitment and grow with them through
workers welfare, training and proper incentives.
Cost effective and profit oriented to maintain the interest of the
owner and stakeholders.
BUSINSES PLAN “GRACE RESTAURANT”
Building and sustaining customer relationship through meeting their
needs.
Our usage of technology and innovation to manage company brand.
Knowledge management focused as part of competitive advantage.
VISION
To become one of the larges and reputable restaurants in Ghana.
To be part of leading contributors of reducing unemployment and
poverty rate in the country.
To be a leader in provision of quality local and continental food
and services.
KEY TO SUCCESS
Exceptional, Innovation-focused & modernity.
Quality of product & service.
Cost management.
Employee skills & commitment.
Customer-Oriented.
Menu targets on various people.
Prudent Business Financial Management.
Cost-Effective Oriented.
8. 8
COMPANY SUMMARY
Inside Design
Grace Restaurant is featuring two venues:
-The first venue will serve the purpose of dining and family.
-The second part will serve outdoor purposes for customers who
do not want heavy launch or dinner.
There will be provision of bar facilities.
The Menu
Company prioritized on serving the need of local people and
Expatriates of the Accra.
There is flexibility in the menu at all stages of business.
The Management
One Restaurant Manager at each branch.
One supply chain and inventory manager.
Crew of seven at each branch.
COMPANY START-UP AND LOCATIONS
The company is operating in one office and three branches located
at medina, Kasoa, Circle and cantonant areas at the total cost of
GHS 200,000 including equipment, painting, renovation, legal,
consulting and start-up labor.
9. 9
OPERATIONS AND SERVICES
The company opens from 10:00am to 12:00am daily.
Dine-in: this is available for customers who want to enjoy their
meal and relax for some time in the restaurant.
Take-out: customers who buy and take away their meals.
Door step delivery: this facility is for customers who want orders to
be delivered to their convenient location at a distance of 1-4
kilometers away through online or phone call orders.
Free delivery charge is available for orders above GHS100.
COMPETITION AND ADVANTAGE
Competitors
Adom Restaurant.
Odo Rice kicking.
McDonalds.
Yeboah Hotel.
Advantages
Combination of local and continental meals.
Our locations.
Expert and experience Management Team.
Privileges of 100% local Industry over foreign companies through
Government policies.
THE MENU
LOCAL DISHES
11. 11
-Chicken Boneless GHS12 GHS18
- Grace Mozzarella sticks GHS8 GHS10
-Grace Jalapeno bite GHS8 GHS10
-Grace Onion Rings GHS8 GHS10
-Grace Swiss wedges GHS8 GHS10
Grace Restaurant Side Orders
MARKET ANALYSIS
We use the secondary data of current market trend.
The trend of specialty and the rate of increase in the restaurant
industry in Accra.
The level of completion in Market.
Customers experience in dining.
SEGMENTATION OF MARKET
Behavioral Features
In behavioral segment of market the following are considered:
Taste-Orient- we take the taste of our food very serious.
Class-Oriented- the class and statuses of our customers are highly respected.
Quality-Oriented-we believe in culture of quality.
Demographic Features
Gender- we provide for both males and females.
Income- we are at the service of all income levels (lower, middle and upper class).
Age- no age limitation.
12. 12
Target market
The Company aims at catering for large customer base. We welcome, serve and entertain
our valued customers to the fullness of satisfaction. As part of our business growth
projection we have targeted the following groups:
Teenagers and Youth.
Families, married partners, singles
Business men and women, Students, workers.
STRATEGY AND IMPLEMENTATION
We want to expand and sustain in the market through the use combination of
activities (Innovative products and services) to provide a unique mix of value to
customers.
We prioritize in building strong customer relationship to create recognition in the
community.
The creation of invincible quality of product and service at reasonable price via total
quality management.
To meet and maintain Government regulatory standards at all times in other to win
more awards from reliable quality standards bodies such as Ghana Standard
Authority for customer retention.
MARKETING PROGRAMS
Marketing through social media (Facebook, Instagram, Twitter etc.).
Billboard, banner and small posters Advertisement.
Occasional city float- moving in the city in Grace Restaurant T-shirt.
Sponsorship of nearby schools.
Advertising through local news, radios and televisions.
SWOT ANALYSIS
Internal Strengths
Financial performance.
No restaurant provides combination local and continental dishes.
Excellent Provision of food and services wide range of customer.
Strong technology.
13. 13
Outstanding Managerial and professional skills.
Internal Weakness
High operational cost-expenses incur to keep the business in operation.
Pricing- the monetary value of goods and services.
Competition.
External Opportunity
Closeness to local and foreign manufacturing company.
Government policy in favor of local industries.
Advancing in living standard of people.
High market base through occupational and geographical mobility.
External Threats
High rate of attenuation.
Other Government policies.
Other restaurant concept.
PEST ANALYSIS
Political Factors
Government Stability.
Regulation and Deregulation.
Govrnment funding,susbsides,some initiative support.
14. 14
Fiscal monetry policy.
Rate of tax.
Trade Agrements.
Economic Factors
Economic trend.
Exchange Rates.
Economic growth/stability.
Consumer Confident.
Discretional income.
Inflation.
Social Factors
Taste and preference
Geographic distribution.
Social influence.
Shopping habits of people.
Population and age distribution.
Technological Factors
Discoveries, Innovation.
New Product and packaging solution.
Advancing in production process/Business models.
Innovative method of transactions. Example e-business.
Innovative software and machines
RESEARCH
We recently research into market trend and customer satisfaction in the restaurant
industry. The following results were obtained.
Most people focus on value for money.
80% of despondence’s buying habits are influenced by their culture.
2/3th of the foreigners eat from restaurant every day.
1/3 of the citizens eat from restaurance every day.
40% of people make order from online and prefer home delivery and take-out.
There is increase in demand of low fat and cholesterol food.
15. 15
SALES STRATEGY
We improve or develop new sales strategy based on evaluation of previous sales analysis.
PREVIOUS SALES ANALYSIS
2016,2017 SALES ANALYSIS
YAER BUDGETED SALES ACTUAL SALES VARIANCE PERCENTAGE
2016 3000000 2500000 500000 16.67
2017 4500000 4000000 500000 11.11
DIFF. 1500000 1500000 0 -5.56
The above diagram presents our sales data for 2016 and 2017. The blue line represents 2016
budgeted and actual sale with variance and the red line represents information of 2017
sales respectively. In 2016 we were able to achieve GHS2500000 representing 83.33% of our
budgeted sales of GHS3000000, and actual sales of GHS4000000 were achieved
representing 88.89% of budgeted sales of GHS4500000 in 2017. There was GHS 1500000
sales increased in 2017. These successes were achieved largely on the basis of restaurance
sales strategy.
The strategy focuses on perpetual high quality food, timely delivery of service and
convenient manner to get orders to customer.
2016
3000000
2500000
500000
16.672017
4500000
4000000
500000
11.110
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
1 2 3 4 5
Series2
Series1
16. 16
To achieve the above strategy we do the following:
Hiring of employees who have skills and interested in restaurant work.
Continues assessment in lay-down quality standards.
Direct interacting with customer to address their concern.
Consideration of popularity in food choices.
MARKETING MIX
7 P’S OF GRACE RESTAURANT
PRODUCT:
Product marketing- making the prospects, customers and others awareness of new or
existing product.
Product is being provided at Accra Metropolitan Assembly in combination of
traditional food and continental dishes.
Focus on Innovative products to meet demand and need the people.
Grace Restaurant will be second to none to offer menu of healthy and low fat foods.
PRICE:
Pricing is top essential element of marketing mix, because it is only mix that
influences an Organizational turnover.
Price costs in producing, designing, distributing and promoting a product.
Product line pricing, psychological pricing and premium pricing are the strategy of
Grace Restaurant to price competitively.
PLACE:
This indicates how service distribution of an Organization reaches the end user.
The Business must be distributing the service at convenient place and time to the
user.
Our Restaurant is at Circle, Kasoa, and Cantonant.
PEOPLE:
The employees with the right experience, skills and interest are crucial in providing
services.
Our staffs are well trained and developed to offer excellent customer service.
Our employees deliver service which adds value to customers, hence making us
outstanding.
17. 17
PROCESS:
Process is the systems that aid businesses in offering a service to their customers.
We research extensively into our product quality and integrity.
We have strong internal standards to control product and service quality regularly.
Our foods are always served in hot and on timely manner.
PROMOTION:
This is the process of creating public awareness about a Company, brand, product
and service.
We use “through the line method of promotion” which integrates both above the line
and below the line advertising.
PHYSICAL EVIDENCE:
Customers make judgment on Organization base on physical evidence. It is part of
service mix enhancing customer viewpoint.
We factor customer feedback in make our business service perceptual plan.
FINANACE
PROFIT AND LOSS STATEMENT
STATEMENT OF FINANCIAL POSINTION
Profit & LOSS STATEMENT
2016 2017
GHS GHS
Gross Profit 2000000 3400000
Expenses (-)
Commission 70000 90000
Interest on loan 45000 50000
Rent 200000 200000
Maintenance & Repairs 70000 80000
19. 19
FINANCING OPTIONS
COMPARISON OF SOURSES OF FINANCING
TYPE COST DILUTION RISK
CONTROL
OVER
MANAGEMENT
EQITY HIGH YES NILL NO
RETAINEDEARNINGS HIGH NO NILL NO
PREFRENCE CAPITAL HIGH NO NEGLIGBLE NO
LOANS LOW NO HIGH NORMAL
DEBENTURES LOW NO HIGH PARTLY
FINANCING OPTIONS ACCESSEMENT
RISK REWARD POTENTIAL
OWNERS RESOURCES H H H
Financial Institutions L-M L-M L-M
Business Investment L-M L-M L-M
Hope Financing group L-M L-M L-M
Business Dev.
Programme L-M L-M L-M
Public Offering L-M L-M L-M
Venture capital L-M L-M L-M
L=LOW M-MEDIUM H=HIGH
Our Company Financing partners
Source Interest rate Per
HOPE
FINANCING
GROUP
20. 20
Annum
Business Dev.
Programme 12%
Hope Financing group 14%
Financial Institutions 15%
MANAGEMENT SUMMARY
Owner (General Manager).
Operations Manager.
Business Consultant.
Lawyer.
Chartered Accountant.
Purchasing Manager.
Marketing Manager.
Cashier or front line employees.
Grace Restaurant Financial plan
We take into consideration critical assumption, risk evaluation, analysis of break
even, cash flow statement, Income statement and statement of financial position for
the financial planning of company.
Critical Assumptions:
Economic trend.
Growth of the organization.
Annual percentage growth rate of the company.
Control cost & pricing.
Sales.
Stock turnover and vendors balance.
MANPOWER:
We have planned for the side of our employees with respect to the current and
future size in additions to operations of the company.
There is salary differentiation between full-time workers and part time workers.
There is training programs for our employees.
We reward excellent skills, knowledge and performance to improve productivity and
quality.
There is provision of proper allowance to promote job satisfaction.
21. 21
There are annual awards for the best workers in every department.
Conditions and qualification:
Academic history and performance.
Relevant industry experience.
Relevant job skills and knowledge.
Physical and mental well-being.
Ability to contain pressure and perform well with little or no supervision.
Ability to communicate well, effective with team and effective coordination with
other employees.
Critical and analytical thinking skills.
Publicity:
Facebook-
You tube.
Twitter.
Instagram.
Google plus.
WHAT WE WANT TO ACHIEVE IN THE LONG RUN
Goal.
Action plan.
Evaluation of risk.
22. 22
Goal & Action plan
Spreading our branches across nationwide within fifteen years.
Assessment of reaming nine regions.
First open branches in rapid developing region.
Consistent research and evaluation of the region for opportunity.
Consistent creation of innovative product and service to meet demand and need of
people at reasonable price.
Creation of strong website to keep data and for easy accessibility of our product and
service.
We will maintain strong employee and customer retention.
Adoption of sales and marketing strategies to enhance sales.
Risk Assessment:
Competition is expected to be grown by 70% in five years later.
Conclusion
This is business plan of a young growing restaurant owned and registered by married
couples. The company initially has one office with three branches located in Accra
Ghana. We want to be the leader in the restaurant industry and spread over the
nationwide through the consideration of proper business method. The owners
believe in proper business plan as a road map of business success as well as survival
in the global market.
Reference:
1. Hopp C., Green F. J.( 2018) In pursuit of time: Business plan sequencing, Duration and
Intraentrainment effect new venture viability. Journal of business studies. P 10-15.
http://www.doi.org10.1111/jonm.12251
2. Porter L. (2018). Business plan: the coffee project. P 5.
http://Scholarworks.uark.edu
3. Rhond A. (2003). The successful Business plan, secret and strategies. P 10.
23. 23
http://mohave.edu.
4. Shaman A. W. (1997) How to write a great business plan, Harvard Business review.
P1-5.
5. http://www.ajml.com.au/downloads/resourcecentre/references/marketing/Identifyn
g%20needs.pdf.
6. http://www.marketing91.com/4-types-market-segmentation-esgment/.
7. http://www.investopedia.com/university/Business. plan/Business.plan.7
