Business Proposal for Taco Bell - Research Paper Example

Business proposal Executive Summary Taco Bell will lease a quick service restaurant concession at Fort Lauderdale-Hollywood International Airport offering service and fast foods. The restaurant will offer steaks, pork, hamburgers, salads, and roasted chicken. The restaurant will offer exclusive selections of the comprising of lighter options for children’s menu. The restaurant shall be operated by Taco Bell operated and managed by an independent franchise (OFallon, 2011). The food chain company has an elaborate experience in the food industry for close to seventy years. The Taco Bell will lease the restaurant with an agreement of eight years where the term may be increased to one or two years. The restaurant is fully equipped with the furniture, fixtures, and other essential equipment. Thus, the initial cost will only entail capital for starting the operations. Objectives To be premier quick food restaurant at Fort Lauderdale-Hollywood International Airport. Provision of quality dishes at reasonable cost and with an exemplary service. Mission Statement Our mission is to take pride in preparing the best Mexican foods providing quick, friendly and accurate service. Guiding principles Being mindful of our staff and customers. We show gratitude to our employees, vendors and customers. We offer friendly and warm service that creates a comfortable environment to our customers and makes them come again and again. Key to Success We want to make it a repeat business, where every customer would want to return to appreciate and recommend us. Hiring top-notch chefs and provide training to maintain their game top and remunerate them well to ensure their lengthy stay. To have a diverse menu so as to cater to every customer who comes to our place. Company Description In 1946, Taco Bell was started by Glen Bell, who opened a hot dog café in San Bernardino, California. In 1950, he began Hot Dog and Hamburgers in San Bernardinos barrio (OFallon, 2011). Bell has grown and currently is operating numerous restaurants in California. Taco Bell Restaurant Company is currently over five hundred fast food restaurants word wide. The restaurant will daily serve concession every day of each year from 5:00 a.m. until 10:00 p.m. Targeted Market Segment Strategy Taco Bell selected this restaurant due to its strategic placement. This step will allow the travelers to have their dishes before and after their journeys. There are other competitors in the place, but our quality and reliable service will be the bait for our customers (OFallon, 2011). We will provide healthier meals with simplified wholesome ingredients. Marketing Strategy and Positioning Taco Bell will position itself premier fast food and quick service restaurant at Fort Lauderdale-Hollywood International Airport. This position will be attained by providing quality foods of highest hygiene and positive health impact. The restaurant will provide a conducive atmosphere for our customers to enjoy their meals, and they will be greeted by the smiles as they enter our restaurant. Our customers will be moved by our standard menu fare, together with seasonal menus that can use to take advantage of saving costs and maintain the trends of the current food industry. We are certain that the restaurant business is a crucial place where one can begin their career and pursue it to full-time (OFallon, 2011). In Taco Bell, we know that our restaurant will offer job opportunities to both new applicants and part-timers. Taco Bell will remain current with the ever growing food industry trends so as to maintain the customer satisfaction. We at Taco Bell we know that success can be achieved by offering more than giving great food and friendly service. The Taco Bell restaurant will be premier dining place at Fort Lauderdale-Hollywood International Airport. We will provide reasonably priced meals, in a relaxed and comfortable setting. We will be open for all seven days of the week unlike some of our competitors who shut over the weekends (OFallon, 2011). At Taco Bell, cost accounting is very critical since the profitability of particular dishes varies significantly, and we shall first find the cost of menus items. We usually capitalize on our credit terms of our suppliers and we will update our menus also to capitalize of seasonality. Promotion and Advertising Mechanism Location – the restaurant will be located at Fort Lauderdale-Hollywood International Airport where it will be strategically placed to fetch many clients. Advertisement – Our company brands is well recognized worldwide so when our customers will see our logo will be quickly identified. In 2004, Taco Bell franchise acquired naming rights of Boise State Pavilion; this has sold the company’s name to many. Website- we have our webpage, Twitter and Facebook accounts where we can post our adverts for our esteemed customers to access them. Promotion – Taco Bell sponsors promotion in home activities and games in Cleveland Cavaliers and Portland Trail Blazers. These events are attended by multitudes who receive a Chalupa for free if their home team emerges the winner. Sale strategy Our customers are our priority. From the survey that we have conducted have shown that one out of twenty clients will report a case of un contentment to the restaurant staff (OFallon, 2011). It will be our principal objective to provide a splendid and superior service to our customers. We will provide teaching and training materials to our employees so as to help them to serve our customers better. The restaurant management has regular staff meetings that discuss the issue of customer satisfaction and keeping the general line of smooth communication that is acknowledged by management and staff. SWOTs Analysis Strengths Prime location for easy and reliable customers. The exceptional experience of sixty-nine years together with our "we can do attitude" of our staff. Since we have been in operation for quite a long time, we already have approved vendors. We believe can offer exceptional service, where our employees will strive to give unsurpassed service as compared to immediate competitors. Weaknesses Recruiting and retaining top notch quality employees. Tight schedules will give provision for little wiggle room for errors. Opportunities Little obstacles to market entry give room for immediate business opportunities. Provision of additional catering services. Threats Government mandates (food safety, restaurant operation, worker protection at every level including health, safety, sanitation and fire at the local level). Rising daily operating costs. Building and maintenance of sale volumes. Supermarkets and other convenient stores. Customers who prefer to take their meals from the airport premises rather than taking at Fort Lauderdale-Hollywood International Airport restaurants. Sales Forecast We are longing for a conservative five percent increase in sales outcomes every year over the next eight years. Table 1 Annual sale forecast First-year Sales Beverage and foods revenues $ 1, 028,422 Additional revenues $ 0 Total sales $ 1,028,422 Controllable costs COGs $ 402,113 Payroll $269,987 Time prime cost $ 672,100 Controllable profit $ 356,322 The sales are expected to continue increasing each year at the constant rate of five percent for eight years. Organization and Management The restaurant will be managed and operated by Taco Bell food Restaurant Company (OFallon, 2011). The companys experience in the food industry wills one of the defining factors leading to the positive growth of the restaurant in the airport premises. We have adopted an effective means of recruiting new staff where each applicant is evaluated and rated by use of predefined standards set by the company. Financial Plan The initial startup capital will $ 185,188 of which be contributed by the Taco Bell company. Table 2 Startup Expense Amount Lease deposit $ 1,200 Contingency $ 10,000 Working capital $ 172,500 Pre-opening expense $ 14,800 Total start-up cost $ 185,188 References OFallon, M. (2011). Hotel management and operations. Hoboken, NJ: Wiley. Read More