The Village Bistro: A critical evaluation of the feasibility of establishing a restaurant bistro in Whitchurch.
Cardiff Metropolitan University
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This project aimed to critically evaluate the feasibility of running a Bistro Style Restaurant, serving quality local, home cooking within Whitchurch, an area of North Cardiff away from the hustle and bustle of the City Centre and The Bay. After extensive research, of current, relevant available literature on Entrepreneurship and Enterprise, Business start-ups, the Hospitality Industry and Food and Beverage operations, primary research was undertaken in the form of an on-line questionnaire which was completed by 180 respondents. This market research conducted found that 52% of people would rather eat at a Restaurant than any other food establishment. The research also showed that on average people would spend between £10 and £30 on an everyday meal including drinks and £30+ on a special occasion meal including drinks. The business plan was assembled using knowledge gained from the last 3 years studying for a Hospitality Management Degree, 8 years invaluable first hand Hospitality experience, and in depth primary and secondary research. The development of project aims and objectives helped steer and guide the plan in the right direction, with regards to the completion of the project and the business aims and objectives helped to support the business idea. Using results from both primary and secondary research a Marketing strategy was developed and implemented. The plan has covered all aspects of a small businesses development and growth. Research and results show the business to be feasible, though the current economic climate could prove to be a major obstacle. Cash flow and profit forecasts were based on a low average spend of £12 per meal and beverage sales of £5. Costing of direct costs of both food and beverages showed an average gross profit margin of 70% and direct costs were calculated on this basis. The business currently operates with an annual turnover of £500,000 and following an interview of a similar business in a different location allowed the first year turnover to be adjusted for seasonality. Sales figures are prudent and indirect costs are the result of research into the similar business mentioned above, the author's experience and the knowledge of the project supervisor. Full details can be found in the relevant appendices. Altogether the author feels that all objectives were completed efficiently, the information gathered for the literature review was relevant and as current as possible, the business idea original and business plan realistic. With guidance from the project supervisor, financial forecasts were completed to the best of the author's ability, and a considerable amount of time, effort and passion was put into the final product.
BA (Hons) Hospitality Management
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