Analysis of Potential Restaurant Business - Essay Example

Business Plan Part C ---- Marketing Plan Content Summary………………………………………………….. Target Market……………………….…………......…….. Promotional Activities……..…………………................... Objectives: format…………………………………………. Objectives: measures……….……………………………… Objectives: range………...…………..…………………….. Timing…………….………………………………………. Marketing Calendar……..………..………………………. Summary This business plan outlines the marketing plan of a potential restaurant business. A gap has been identified in the sense that employees around this area lack convenient restaurants to go have decent meals in between their busy schedules. The area has potential customers who mostly consist of workers from the nearby businesses and establishments. In this business plan, the target market of the restaurant business has been identified. The promotional activities that will be used to notify the target market about the existence of the restaurant have also been outlined. These promotional activities range from the use of fliers, direct mail, newspapers and magazines, billboards, TV, social media, strategic advertisement and the use of a website among others. The business plan has emphasized the importance of creating awareness about the existence of the restaurant if customers are expected to come to the restaurant. For this reason, strategic advertising has to be done so that the most number of potential customers can be reached at one go. This business plan has also highlighted the objectives of the new business, as well as outlined the strategy and plan of action meant to achieve each objective. The costs, measures, and ranges have also been outlined in the business plan. Finally, the timings of each marketing activity have been clearly outlined. All promotional activities from January to December, together with the specific dates that these activities will be carried out have also been given in this business plan. Target Market The commuters represent a significant portion of expected consumers as well as customers from nearby businesses. There are at present approximately 15 other businesses in this shopping area including 2 banks, NSLC, Sobeys, a pharmacy and fitness center. Statistics Canada shows that the average Canadian spends about 17% of their yearly earnings eating outside the house. Each of these local businesses represents a consistent number of employees working each day with only a few options for restaurants. There are more restaurants that require a short drive but that may be less convenient for an employee who only has an hour for lunch or wants enjoy a nice meal after work with coworkers. Convenience will play a large role in attracting customers. Promotional Activities 1. Direct mail We will send a mail and gift card which worthies $5 plus our food menu with price for each item and telephone number to every people who lives within 2 kilometers to let them know we are in your neighborhood. 2. Newspaper/magazines We will advertise on newspaper to let people in Halifax know we exist. 3. Website We are going to build up our own website which is www.SushiSquare.com, and it includes our food menu, photos of our shop, telephone number and customer review section. 4. Billboards Since we are close to highway, we are going to build a billboard standing up beside 102 Highway to let coming and going cars know there is a sushi restaurant just near by you and if you feel tired or hungry, you can come to us and having a nice rest. The billboard will also include our brand, address, and telephone number. 5. Fliers Many people want to eat light as New Year goals of losing weights kick in; we offer special menus in terms of helping them keep weight. We will hand out fliers to our potential customers. 6. Channel TV We consider February is a gift and dinning season, and we would like to use Channel TV to promote our special dinner menu and wines for couples. 7. Social Media As January to March are Cabin fever months, people prefer to hold indoor activities, and we would like to advertise our event planning, for instance, birthday planning on Facebook and twitter so that potential customers will know that. 8. Advertising There will be a lot of activities happen during summer, for instance, wedding catering and graduation parties. We will advertise our graduation party dinner menu to potential customers and we will also plan outside catering for those needed customers. Also, there are a lot of festivals over winter such as Halloween, Thanksgiving and Christmas. We will host meal specials in terms of those holidays. Objectives: format Objectives Strategy Plan Let people within 2km from our restaurant know we open in business plaza Direct Mail We will send a mail and gift card which worthies $5 plus our food menu with price for each item and telephone number to potential customers Increase our wine sales Channel TV We will promote our wines and special valentine menu for couples on February 14th, and conduct live performance, also we will promote wine sales during Christmas Increase our sales by 5%, comparing to slackseason Social Media We will use twitter and Facebook as a tool to promote indoor events during the cabin fever months as well as all kinds of events that we offer Let customer know we are diversified, and get more repeat customers Advertising There are quite a few festivals during the whole year, and we will advertise our special menu in terms of Halloween, Christmas, etc., by advertising Increase our sale by 10%-15% during the peak season Newspaper We will use newspaper as a tool to attract tourists from all over the world during the summer peak tourism season Attract more “unusual” customers to our restaurant, which could be a competitive advantage Fliers As Sushi is considered as diet food (low salt, low fat, no oil), we will print fliers to let customers who are on diet know that we offer them special diet menu Attract customers from all arena Website We will put all of our events, such as summer festivals, newly discount menu, special activities (indoor and outdoor), group dinning specials, back-to-school offers, etc., on our official website so that customers will know how diversity we are Objectives: measures 1. Direct mail We will buy over 1000 envelopes and print our menu to make sure we can reach each people who live in 2 kilometers from our shop, and that cost will be $60. 2. Newspaper If we want to do advertising on newspaper, we want the size of 100mm H x 72mm W and that price will be $298.98 per day. We will post it on Metro Halifax since this newspaper is easier for people to catch. Almost every bus will send a few free copies to passengers. It is much more easier for people to find out we are a new sushi restaurant. 3. Website Since we are only hiring people who have experience on making sushi and serving, we do not know how to design a website. We have to hire a person who knows the whole process of this work, and that minimum price will be $707. 4. Billboards We apparently do not know how to build a billboard, we have to ask a billboard company to do for us and that price will be $899. 5. Fliers 6. Channel TV There are two challenging problems in this section. One is what kind of free gift we could choose to give customers. We will give them concert tickets for the DVORK’S NEW WORLD SYMPHONY which worthies $10 for each and we win more musical fans to become our potential customers. Another challenging is the live performance. We apparently cannot afford to invited world famous performances so we decide to let our own employees who have musical talents to sing for customers. 7. Social Media 8. Advertising Outside catering will not be a problem for us since we have enough space and food equipment and materials. The urgent problem is let the graduates know we are able to host a graduation party for them. Therefore, we will contact the school boards either high school or university to ask them permission to let us promote our party in their campus. Problem in this section is still the design of our food specials. We do not want our meal specials always be sushi and sashimi, we will offer people with some traditional Chinese food since a lot of local citizens like it. Objectives: range Fist of all, awareness, we would like to let people know about our restaurant as much as possible, so that we can get the most profit. In our promotional activities, for instance, Channel TV, direct mail, fliers, etc., those will help us a lot. Secondly, trail, like the wine tasting, we would also like to give customer a little bit try on our menu before they actually order. We will do sample tasting on our sushi bar every day, and every day item is different so that people could try a range of our menus. Thirdly, loyalty, there are quite a few ways to attach customer loyalty. We would like to offer each customer a seal card, and we will give them a stamp when they dinning in our restaurant. After they collecting 10 stamps, we will offer them a free meal. Then, we would also like to send regular customers birthday cards, anniversary cards, etc., to show customers that we care about them. Then, upsell, we will train our servers in terms of how to upsell our products. For instance, if customers ate buffet, our server should try to get drink orders from customers as much as possible. If customers ordered regular menu, servers should recommend appetizers, desserts, and drinks to them. Finally, repeat customers, we consider food quality, service, dinning atmosphere, and pricing as most important factors to make our customers come back. So, we will make sure that those qualities stand well. In addition, word of mouth is a good way to reach new customers, if repeat customers satisfied with us, and they would introduce their friends and families to our restaurant. Timing and Marketing Calendar MONTH EVENT PROMOTIONAL ACTIVITIES ACTIVITY DATE January Dieting Campaign: Many people want to eat light as new year goals of losing weights kick in. Fliers Offer special diet menu to customers Every Monday and Wednesday of the month February Love month special: This is a gift and dining season Channel TV, Newspaper Dinner for two specials 7th-14th 　 　 　 Complementary wine 7th-14th 　 　 　 Special dinner theme including live performance and free gifts 14th March Cabin fever Month: cozy indoor dining because it’s a cold month Website and direct mail Advertise group dining specials Whole month 　 　 　 Advertise events complementary like birthday planning Whole month 　 　 　 Children meals at half cost when accompanied by two adults Weekends April Easter Holiday: Its spring time and people want to eat light Website and social media Tweet pictures of the outdoor dining experience on a sunny day Whole month 　 　 　 Advertise desserts and vegetable that accompany the main meal Whole month 　 　 　 Easter weekend special of customized buffet meals Easter weekend May Summer activities: Specialize on advertising for summer activities like wedding catering and graduation parties Website, social media, newspaper Outside catering offers Start end of April 　 　 　 Graduation party dinner offers Whole month June Summer time/business financial year: Advertise to companies for yearly contracts for catering in meetings and presentations for consideration when the next financial year starts. Entice children with kid friendly menu. Website and social media Send complementary munching to corporate procurement for consideration Fridays 　 　 　 Kids entertainment program like bouncing castles Full month July Summer high time: Run newspaper ads for tourists and give discounts Teaser newspaper ads Custom meals Full month August Summer festivals: Sponsor summer festival and activities such as sports for local advertising Website and Social Media Offer meals at discounted rates for game nights 15th-30th 　 　 　 Run a stand at a local community stores 1st-15th September Back to school: Offer back to school menus and labor day special dinner Website and social media Group dinners special for back to school 1st-15th October Halloween: Encourage custom made menus with Halloween theme Website, social media, Fliers Halloween special Full month November Thanksgiving: Advertise for thanksgiving dinner Website and social media Thanksgiving dinner Thanksgiving week December Promote new year offers: Take advantage of the Christmas celebrations to promote new year offers Website, social media, channel TV Christmas eve offers 24th 　 　 　 New years eve 31st Read More