Business plan
Punjabi and Asian culture food restaurants
Table of Contents
Projected cash flow statement 9
Location
Brampton Ontario, Canada. The beautiful city of Brampton is home to many Canadians. The city has beautiful landscapes and picturesque locations. The town provides a healthy job market and attracts a lot of migrants in the first place. The town has many activities around and is a nice place to spend leisure time with friends and family. The town has many hangout places and eateries along with the shops in the marketplace. The place is home to many migrant professionals who originally belong from other places. This makes the place a perfect town to open a business in the restaurant and hospital sector. The Punjabi and Asian culture food restaurant is a good business idea in the location since it contains so many people of Asian origin (Kocaman, 2021).
The Restaurant will be based in the city of Brampton Ontario, Canada. The town has a growing population of migrants from south Asian countries like India, Pakistan, Bangladesh, etc. The Punjabi and Sikh population from India is the biggest migrant group in the area. This is the reason the restaurant will have a strategic location in this town. This will give the restaurant an edge in the business location-wise as compared to its counterparts in that area. The restaurant is the future of the region as in the coming times the population of migrants from those regions is going to increase (Canziani, et al., 2016).
Management
The management of the business is not an easy task. It contains many challenges and hurdles. The restaurant business can be managed efficiently with the help of the staff and it needs a certain amount of devotion and focus to succeed in it.
Managing staff
The managing of the staff in the business is the most important thing that has to be done efficiently. The management needs to be done in an organized way. The managing of the staff needs to be handled by the HR team. The business requires an HR manager in the beginning. The manager will create the required team that is needed to manage the working staff in the hotel. This will include hiring and firing of the staff also. The restaurant needs to decide about the qualifications of the workers, their working policies, and the staff strength at the beginning of opening the restaurant. HR management is the most important function in the managing of the restaurant business. The employees hold the highest respect for the customers and are therefore the brand ambassadors of the business (Filimonau, et al., 2021).
Manage sales and accounts
Managing the sales for the business is a crucial factor in managing the restaurant. The sales and the accounts of the restaurants need to be managed efficiently. They are the record keepers in the business. Managing sales and accounts is the basic requirement of the business. This needs to be handled properly. The sales and accounts are managed by the HR team and are an important way of demonstrating the profits and losses of the business. This also gives the scope to others to improve the business significantly after looking at the previous records (DiPietro, 2017).
Customer service
This is one of the main aspects when it comes to the hospitality sector. Customer service includes all the services that the restaurant will provide. The staff working will speak for them. The restaurant services need to be fast and efficient. There is no way the customer feels uncomfortable. The customer needs to feel the money is spent worthy of the services the restaurant will provide. This will term the restaurant as cost-efficient and more and more people will like to visit the restaurant and have a look at the services the restaurant is providing. The customer service needs to be good and quick. This will create the necessary environment for the restaurant. The customers need to feel welcomed and honored to visit the place and the staff will make the customers their priority among everything else (Yawale, et al., 2017).
Advertising and marketing
Advertising and marketing is the most important aspect when it comes to managing a restaurant. The marketing team and the managers need to chalk out an efficient plan for the working of the advertising and marketing of the restaurant. The advertising and the marketing of the restaurant are important so that the people get to know about the place. It also involves creating curiosity among the population to come ad try the food and beverage of the place. This is all about retaining the old customer and adding new customers to the restaurant. The advertising and the marketing team are responsible for the generation of new offers and discounts for attracting new customers. The advertising and marketing team needs to work extra time to install introductory stalls in other places of the town so that the people get to know about the place and try their new cuisines free of cost in the beginning.
They will also hand over discount coupons that will be valid for the first visit to every customer so that more and more people visit the place. Hiring an efficient marketing and advertising team is the priority of the HR team so that as soon as the business takes up, the marketing team enters the picture and helps to expand the business further (Ravekar & Singh, 2019).
Human resource
The Human resources of the company are the most valuable assets of the company. They are the forefront representatives of the restaurants and the brand ambassadors of the business. This is so true in every business including the present one. The staffs and employees are the key assets that can be trained and improved every time. Hence the proper training and knowledge learning of the staff is also important. The staff members will include many people with different roles and responsibilities. There are many steps to inducting a skilled set of employees. These are mentioned as follows:
Recruitment: Recruitment is the first step toward inducting the employees into the organization. The recruitment drive needs to be conducted by the HR team. Recruitment is the process that is conducted by the HR team. The Human resources of the company are the most valuable assets of the company. They are the forefront representatives of the restaurants and the brand ambassadors of the business. This is so true in every business including the present one. Managing the staff in the business is the most important thing that has to be done efficiently. The management needs to be done in an organized way. The managing of the staff needs to be handled by the HR team. The business requires an HR manager in the beginning. The manager will create the required team that is needed to manage the working staff in the hotel. This will include hiring and firing of the staff also (Fernandes, et al., 2021).
Selection process: The section process is designed and managed by the HR team. Managing the staff in the business is the most important thing that has to be done efficiently. The management needs to be done in an organized way. The managing of the staff needs to be handled by the HR team. The business requires an HR manager in the beginning. The manager will create the required team that is needed to manage the working staff in the hotel. This will include hiring. The selection process starts with demonstrating soft skills and subject knowledge. The subject knowledge needs to be appropriate in every sense and the process is demonstration needs to check all the requirement boxes for the employee to be hired. The candidate should be a team player and should omit the values and ethics of this organization. The selection process is therefore completed within a few days.
Compensation: The compensation policies will also be decided by the HR team. This will include the insurance amount, health compensation, and leaves benefits. For all the workers there will also be parenting benefits, such as maternity and paternity leaves. There will also be other compensation regarding work that will be discussed at the later stage of employment.
Evaluation methods: There will be some evaluation methods that will test and evaluate employees’ knowledge and skills. The evaluation methods will be designed by the HR team and will give the employees an edge over others in improving their skills and knowledge. The restaurant will organize competitions from time to time to test and evaluate employees’ performance. The manager and all others’ performance will be evaluated based on customer feedback and reviews. This will be made available for the entire customer who visits the restaurant and also those who availed the home delivery services. This is going to be an effective way of evaluation.
Retention of employees: The employees need to get a raise from time to time to increase employee retention. The employees also need to get rewards and recognition for their hard and sincere work. The retention of the employees is necessary for the restaurant to grow and prosper (Ozdemir & Caliskan, 2014).
Projected cash flow statement
| Income | Amount($) | Expenditure ($) | Amount($) |
| Income for operating | 70 | Sales Cost | 2338 |
| Total income | 91339 | Technology | 18,510 |
| Marketing and advertising | 22,000 | ||
| Administrative cost | 6,669 | ||
| Expense of Interest | 1644 | ||
| Income taxes | 2845 |
Projected income statement
| Income ($) | 2023 | 2022 |
| Total income | 34,365 | 23,744 |
| Loss | ||
| Total | ||
| Translation income | -700 | 512 |
| Adjustment | ||
| operating cost | – | — |
| Total adjustments | -820 | 552 |
| Total change | ||
| Gains or losses | -324 | 254 |
| Other losses or gains | ||
| income or expense | -15 | -19 |
| Debt | -388 | 236 |
| Total | -1,297 | 817 |
| Total income | 33,169 | 23,138 |
Projected balance sheet
| Cost($) | Dec 31, 2023 | Dec 31, 2022 |
| In Hand | 96,047 | 84,364 |
| Received income | 32,791 | 24,544 |
| Inventory cost | 32,540 | 23,794 |
| Pre-Paid cost | – | – |
| current assets | – | – |
| Total Assets | 162,580 | 132,723 |
| Properties and Equipment | 161,281 | 113,124 |
| Investments | – | – |
| Intangible Assets | 14,371 | 15,014 |
| Other assets | 28,235 | 22,777 |
| Assets | 248,969 | 188,452 |
| Total | 410,549 | 321,185 |
| Total Liabilities | 152,266 | 126,375 |
| Debt | 47,744 | 31,814 |
| Other Liabilities | 21,643 | 17,018 |
| Total liabilities | 120,038 | 101,408 |
| Total | 272,304 | 227,798 |
| Stock Net | 4 | 4 |
| Accumulated Deficit | 75,915 | 52,751 |
| Income | -2,276 | -184 |
| Other Equity | – | – |
| Share Equity | 137,245 | 93,405 |
| Total | 421,549 | 321,155 |
Executive summary
The Restaurant will be based in the city of Brampton Ontario, Canada. The town has a growing population of migrants from south Asian countries like India, Pakistan, Bangladesh, etc. The Punjabi and Sikh population from India is the biggest migrant group in the area. This is the reason the restaurant will have a strategic location in this town. The management of the business is not an easy task. It contains many challenges and hurdles. The restaurant business can be managed efficiently with the help of the staff and it needs a certain amount of devotion and focus to succeed in it. The Human resources of the company are the most valuable assets of the company. They are the forefront representatives of the restaurants and the brand ambassadors of the business. Hence the management of the staff is the most important for a successful business.
The restaurant needs to decide about the qualifications of the workers, their working policies, and the staff strength at the beginning of opening the restaurant. HR management is the most important function in the managing of the restaurant business. The staff working will speak for them. The restaurant services need to be fast and efficient. There is no way the customer feels uncomfortable. The customer needs to feel the money is spent worthy of the services the restaurant will provide. This will term the restaurant as cost-efficient and more and more people will like to visit the restaurant and have a look at the services the restaurant is providing. The advertising and the marketing team are responsible for the generation of new offers and discounts for attracting new customers. The advertising and marketing team needs to work extra time to install introductory stalls in other places of the town so that the people get to know about the place.
Recruitment is the first step toward inducting the employees into the organization. The recruitment drive needs to be conducted by the HR team. Recruitment is the process that is conducted by the HR team. The Human resources of the company are the most valuable assets of the company. They are the forefront representatives of the restaurants and the brand ambassadors of the business. The evaluation methods will be designed by the HR team and will give the employees an edge over others in improving their skills and knowledge. The restaurant will organize competitions from time to time to test and evaluate employees’ performance. The manager and all others’ performance will be evaluated based on customer feedback and reviews. For all the workers there will also be parenting benefits, such as maternity and paternity leaves. There will also be other compensation regarding work that will be discussed at the later stage of employment. The restaurant needs to retain the previous employees for the improvement and success of the restaurant (Chochiang, et al., 2020).
References
Canziani, B. F., Almanza, B., Frash, R. E., McKeig, M. J., & Sullivan-Reid, C. (2016). Classifying restaurants to improve the usability of restaurant research. International Journal of Contemporary Hospitality Management.
Chochiang, K., Ung, P., & Bunsaman, N. (2020, June). One-stop restaurant service application. In 2020 17th International Conference on Electrical Engineering/Electronics, Computer, Telecommunications and Information Technology (ECTI-CON) (pp. 482-485). IEEE.
DiPietro, R. (2017). Restaurant and foodservice research: A critical reflection behind and an optimistic look ahead. International Journal of Contemporary Hospitality Management.
Fernandes, E., Moro, S., Cortez, P., Batista, F., & Ribeiro, R. (2021). A data-driven approach to measuring restaurant performance by combining online reviews with historical sales data. International Journal of Hospitality Management, 94, 102830.
Filimonau, V., Coşkun, A., Derqui, B., & Matute, J. (2021). Restaurant management and food waste reduction: factors affecting attitudes and intentions in restaurants of Spain. International Journal of Contemporary Hospitality Management.
Kocaman, E. M. (2021). Operational effects of using restaurant management system: An assessment according to business features. International Journal of Gastronomy and Food Science, 25, 100408.
Ozdemir, B., & Caliskan, O. (2014). A review of literature on restaurant menus: Specifying the managerial issues. International Journal of gastronomy and food science, 2(1), 3-13.
Ravekar, U., & Singh, S. (2019). Data-centric smart restaurant management system. Int. Res. J. Eng. Tech.(Target), 6, 1425.
Yawale, N. M., Pardakhe, N. V., Deshmukh, M. A., & Deshmukh, N. A. (2017). A Review Paper on Online Restaurant Management System. IAETSD Journal for Advanced Research in Applied Sciences, 4(7).