The Tai'r Bull business enterprise: An evaluation of the feasibility of setting up a restaurant that uses local and Welsh produce for Welsh orientated meals.

Abstract

The aim of this enterprise project is to conduct a feasibility study and critically evaluate the opportunity for opening a restaurant that serves Welsh recipes used from local producers and suppliers. The aim is for The Tai'r Bull to offer a successful menu that incorporates local and welsh produce from local suppliers and exceeds consumer expectations every time. The objectives were to identify and evaluate the gap in the market, develop a research questionnaire and evaluate the results, Identify potential competitors and evaluate the financial requirements and status of The Tai'r Bull. A SWOT analysis of the potential business idea was made and it concluded that although there are risks to the business, these could be over come as the business grows and develops and also the benefits of the business outweighed the risks. Research showed that these were a desire for traditional Welsh meals with 66 respondents out of 200, saying that they preferred Welsh dishes over English ones. This showed that the restaurant could be successful with the right marketing techniques to let everyone know that the restaurant exists. The marketing of the restaurant includes, internet, flyers adverts in the local papers and also in the food guide in Wales. The financial requirement of The Tai'r Bull is £40,000 leasehold, and a £20,000 overdraft. The lease on the premises would be paid in full with the owner's personal investment. The Business has revealed that at the end of trade year one the net sales are £231,000 with a first year net profit of -£6,063.