Task 1
Overview of the business
This report focuses on the startup of the business in the future. In the report, the business idea of opening the restaurant is taken. This business idea is about the multi-cuisine restaurant which will be started UK to meet the needs of the customers. Aim of the business of restaurant is to provide delicious food and drinks to the customers in the market (Burns, 2014). The food and drink will meet the highest standard of superiority, freshness and seasonality combination of the customary and creative style of cooking. Name of the restaurant will be Paradise De Nature. Food is the most important and integral part of daily lives of people. The restaurant can be considered as the mode of availability of the food to the customers easily. The restaurants business will be successful as there is 50% population of children and teenagers in the country who demand food (Barros, Gal & Kindler, 2012).
There can be advantages and disadvantages of starting the business of a restaurant. It is observed that busy people choose to eat out rather than taking time to prepare the food at the home. It means that the right restaurant at the right location will be profitable and beneficial. Along with this, food is universal people have been hardwired to grab something to eat when they are hungry. On the other hand, there are some disadvantages while opening the restaurant business. There can be the issue of low margins, and expensive initial investment. So, there must be high capital and fund to invest in the business otherwise the business will face losses (Boone & Kurtz, 2013).
Political-
To operate in the UK market, restaurant has to pay taxes such as sales tax and payroll tax to the government. The tax obligations in UK are different from the other countries. Along with this, there are strict consumer laws which restaurant has to follow to ensure that the quality is maintained and they deliver what they claim.
Economic-
The economy of UK is doing well and plays an important role in the business operations of companies. Focusing on the economy of UK, the business of restaurant will flourish and sales will also increase positively. The sales of the food products largely depend up on the economy of country. The economy of UK is strong and people have more disposable income and they spend more in consuming food products.
Advantage and disadvantage
Social-
Culture, norms, values and living style of people impact the business of restaurant in UK. The country UK has its own culture and Paradise De Nature has to deal with the cultural and religious barriers while deciding food menu for the customers. For the customers of different religions, restaurant has to launch different meals to cater that in the market (Lind, 2012).
Technological-
Paradise De Nature will use various technologies to promote itself in the market. It will promote by television advertisements and billboards. Along with this, it will also include mobile app to order the food, digital menu and online coupons to attract the customers. Social media platforms will also be used to target large number of customers (Pavlou & Stewart, 2015).
Ecological-
Paradise De Nature must show high level of interest towards the environmental issues such as food packaging in the plastic bags, and unhealthy ingredients etc. the containers used for the serving foods and drinks glasses had polystyrene that is unhygienic for the customers.
Legal-
In terms of legal factors, Paradise De Nature has to comply with the procedures and rules in the daily operations. The legal process of the business has to be maintained so that company and society can be benefited from this.
Globalization is breaking down for the barriers in all over the world and the result is that the businesses are able to understand the culture, economies, politics and trades etc. globalization provides wider array of choice to the restaurants. It is impossible to obtain various ingredients from various parts of the world without globalization. Various items can be shipped out to international customers as quick as possible. For example, with the help of globalization and increased technology, restaurant can purchase the essential ingredients’ like sea food from the other countries. Further, due to globalization people travel in other countries to experience the food of the famous restaurants (Parker, 2005).
There are various technologies which would be used by the restaurant to attract the customers for the business growth and success. In current time, customers are seeking for new technology the restaurants are using to enhance their dinning experience. So, the restaurant would use some technologies to attract the customers.
Mobile ordering- This is one of the area which is used by various restaurants. Paradise De Nature will make a mobile app in various languages so that customers from various culture and languages can order their favorite food.
PESTEL Analysis
Digital menu board – Paradise De Nature will focus on changing the menu and offer digital menu boards as it would be much easier for the restaurant than manually changing the prices and items. Along with this, digital signage will allow the restaurant to provide interactivity and entertainment while customers are waiting.
Online coupons- Paradise De Nature will use digital coupons to attract more customers. Along with this, restaurant will also provide some discounts on the selected food items. The digital coupons can be redeemed after one month (Armstrong & Cunningham, 2012).
Target customers
The potential customers for the restaurant will be identified according to the income, age and profession. In terms of age of potential customers, the restaurant will target the customers of all ages as everyone like to have tasty and delicious food. In terms of the occupation and profession, students, employees and businessmen will be targeted by the restaurant. Students can be regular customers for the restaurant as they seek to places to celebrate various events with the friends. Further, businessmen and employees high level of income and they seek for the restaurants where they can have tasty lunch and dinner and can do various business meetings. Located in UK, Paradise De Nature would focus on the high income customers who want to spend their money for the quality food products. It is crucial for the business to understand their potential customers because they are base of any business that leads the business towards the success and growth (Mason, 2015).
There are various ways to attract and retain the customers in the restaurant business. For the restaurant Paradise De Nature, there are ways to attract more customers for the growth of the business.
Value addition-
In the market of strong competition, it is important for the restaurant to retain the customers by giving them valuable incentives to them so that they become loyal customers. For example, restaurant can offer a free desert or take-home gift with the name of restaurant printed on that. Loyalty points can also be given to the regular customers who can be redeemed in their next visit (Drummond, Ensor & Ashford, 2012).
Offering extraordinary dining experience–
Quality food will be served in the inviting atmosphere that can be helpful in achieving competitive advantage in the market. The customers will come to restaurant again and again if they will get extraordinary dining experience. This is an effective way for word of mouth publicity and promotes the restaurant in the positive manner so that customer will keep on coming to the restaurant (Fifield, 2012).
Ethics in business
Ethics in the business includes the moral principles that guide the way a business should behave. Basically, ethics is the set o moral standards which focus on reaching conclusions and making decisions. In the business operations, ethics is the important factor for decision making. Ethics is important in the business of restaurant to manage the sustainability and growth. Ethics in the business is helpful in improving the morale of the company and employees. Along with this, it also increases the ability to attract the new customers in the business and enhances the customer loyalty. Basically, in the restaurant business, ethics is crucial as without ethics restaurant will not be able to achieve profit and satisfaction level of customers in the business. Ethics will provide log term profit and transparency in the business. For the sustainability of restaurant, employees or staff should be committed to the ethical standards of the business (Hough, Green & Plumle, 2016).
Treating the staff ethically
Treating employees with dignity and ethically should be the important and basic element in the business. There are some ways by which Paradise De Nature can treat the employees ethically in the business operations. Restaurant should use some tools to promote ethics and fair treatment with the employees.
- Training related to ethics must be provided to the employers to help them to understand the culture of ethics and fair play. Training is essential to recognize the ethical dilemmas. It also includes ethical frameworks to resolve the problems in the ethical ways.
- There must be the system of performance appraisal system to provide equal opportunity and treating the employees fair. The appraisal can measure the adherence the employees to high ethical standards (Ruiz-Palomino, Mart?´nez-Canas, & Fontrodona, 2013).
- There should be reward for ethical behavior and penalty for the unethical behavior. Along with this, care must be taken in rewarding ethical behavior.
References
Armstrong, G., & Cunningham, M. H., (2012), Principles of marketing, Australia: Pearson publication
Barros, A., Gal, A., & Kindler, E., (2012), Business process management, Berlin: Springer
Boone, L., & Kurtz, D., (2013), Contemporary marketing, USA: Cengage Learning
Burns, P., (2014), New venture creation: a framework for entrepreneurial start-ups, USA: Palgrave Macmillan
Drummond, G., Ensor, J. & Ashford, R., (2012), Strategic Marketing: Planning and Control, (4th) London: Palgrave Macmillan
Fifield, P., (2012), Marketing strategy, (2nd), Berlin: Reed educational & publishing Pvt Ltd
Hough, C., Green, K., & Plumle, G., (2016), Impact of ethics environment and organizational trust on employee engagement: Journal of Legal, Ethical and Regulatory Issues, 18
Lind, P., (2012), Small business management in cross-cultural environments, NY: Routledge
Mason, H., (2015), Trend-Driven Innovation: Beat Accelerating Customer Expectations, John Wiley & Sons
Parker, B., (2005), Introduction to Globalization and Business: Relationships and Responsibilities, UK: SAGE
Pavlou, P. A., & Stewart, D. W., (2015), Interactive Advertising: A New Conceptual Framework Towards Integrating Elements of the Marketing Mix, pp. 218-222
Ruiz-Palomino, P., Mart?´nez-Canas, R., & Fontrodona, J., (2013), Ethical culture and employee outcomes: The mediating role of person–organization fit: Journal of Business Ethics, 116(1), 173–188
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