Custom «Zaatar W Zeit» Essay Paper Sample
Table of Contents
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- BUSINESS ORGANIZATION
- START UP SUMMARY
- Securing Necessary Licenses: £1,000
- Leasing of premises: £ 8,000
- LOCATION, FACILITIES, & LEASING ARRANGEMENTS
- FINANCE PLAN FOR THE BUSINESS
- MARKET ANALYSIS
- Marketing Plan, Advertising, & Promotion
- STRATEGY DESCRIPTION & IMPLEMENTATION PLAN
- GROWTH PLAN & MANAGEMENT
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Business Description: Zaatar W Zeit is a Lebanese concept restaurant that was launched in May 1999 with the first branch operating in Sodeco, Beirut.
Target Market and Customers: During its inception, the target customers were mostly local Lebanese who enjoyed the traditional ‘mankousheh’ meal.
Business Growth Trends: The restaurant has enjoyed a 10 year successful growth, leading to the establishment of new franchise restaurants in Zalka, Kaslik, ABC Ashrafeih, Bliss, and Jeita.
Pricing Power: Zaatar W Zeit offers an affordable pricing range, suited for its clientele. The pricing mechanism is not discriminatory, depending on the setting and context of the franchise establishment.
The overarching vision of the Zaatar W Zeit empire is to provide tastefully prepared and delicious meals, which are served in the most welcoming, friendly, and satisfying manner possible. The new franchise establishment in London intends to maintain this vision by making it the driving force behind its business. Additionally, since London is a fairly cosmopolitan setting, the London franchise will embrace a multicultural approach in order to attract customers from other nations, races and religions.
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The organization of the new franchise will pursue a functional approach, in which several departments will be formulated to run operations effectively. The departments will include: finance, human resource, and quality control. These departments will oversee the smooth running of the franchise and transition of its abstract business model into an actual process. The departments will work under the directive of the proprietor of the new franchise
START UP SUMMARY
The startup costs of the company for the franchise are as follows:
Site preparation, cooking ware, serving items, clothing, and contingencies: £30,000
Securing Necessary Licenses: £1,000
Leasing of premises: £ 8,000
These costs are based on the current property market estimates and are based on the lowest market values for cost effective measures.
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The management will choose a comprehensive insurance plan to protect the new franchise against possible losses that may arise from incidents of fire, theft, and other natural calamities. In this regard, the management will choose an affordable insurance plan with friendly premiums, which will be paid by the franchise on a monthly basis.
LOCATION, FACILITIES, & LEASING ARRANGEMENTS
The new franchise will be located in the western side of London town. Tenders will be prepared by the company and real estate developers will be invited to submit bids. The aim of doing this is to make the bidding process competitive such that real estate firms will submit the lowest bids. This will not be the only determining factor since the management will also take into account factors such as accessibility, availability of parking space, and proximity to similar restaurants. The interior design of the new franchise will also be subjected to competitive bidding in order to get the best choice.
The restaurant will primarily focus on serving Mankousheh, which is a traditional Lebanese delicacy. The ‘Mankousheh’ is a fluffy pizza-like food that is normally served with delicious toppings, depending on the preference of the customer. In as much as it is a traditional taste for the Lebanese people, it is also a delicacy for others, willing to try new tastes. Additionally, drinks will also be served in the restaurant as accompaniments to the main dish. These will include soft drinks and coffee.
FINANCE PLAN FOR THE BUSINESS
To accomplish the funding objectives of the franchise, this will entail getting sufficient funding for its operations. The funding sources will come from the following quarters:
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Bank loan: the management will consider taking lucrative business loan packages that attract minimum interest rates and have a flexible payment plan.
Savings: the new franchise establishment intends to come up with a suitable saving plan that will be used to improve the facility and acquire new asset bases.
Investment in assets: new assets, acquired by the London franchise, will be used to improve the financial standing of the company, which consequently improves its capability
London is a cosmopolitan city, whose demography shows a global composition with people, coming from literally all places of the world. The Lebanese have been a part of this rapidly growing population. This will be the first target customers of the restaurant. Since majority of Lebanese and other Arab communities reside on the West side of London, advertisement posters will be placed in these areas.
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Marketing Plan, Advertising, & Promotion
The marketing plan for the proposed Zaatar W Zeit will solely entail designing a website, open a Facebook /Twitter fun page, which will specifically focus on local population in the United Kingdom, especially Lebanese, visiting London city for vacation or work reasons. Since Zaatar W Zeit already enjoys popularity in its maiden market, other franchises will provide a marketing base by informing customers of a new establishment in London.
STRATEGY DESCRIPTION & IMPLEMENTATION PLAN
The strategy pyramid for the new franchise establishment will entail creating a customer loyalty program, encouraging advertisement, and sponsoring community events such as youth groups and students. The events will be organized regardless of existing racial or cultural differences. Another strategy that will be used will involve giving monetary and material support for existing non-governmental organizations, especially those, focusing on the plight of the disabled persons and destitute families in the community.
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To establish an effective customer loyalty program, the new franchise intends to give customers bonus smart points for every ‘Mankousheh’ dishes ordered. These smart points will be loaded into specially designed smart cards, given to customers, and can be redeemed once they accumulate to 20 bonus points for a free ‘Mankousheh’ dish and a salad dressing of the customer’s choice. This will encourage customers to order their favorite ‘Mankousheh’ dish from the new franchise. This customer loyalty program will also use different models, in which promotions will be launched during specific days of the month. For example, this will be achieved through buy 3 get 1 free plan, but only on specific days. The aim is to increase sales volumes on certain days of the month in order to meet the company’s sales targets.
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GROWTH PLAN & MANAGEMENT
The new franchise envisions opening 2 more outlets by the end of its first year of operation. These outlets will be located in western London, where a large number of London’s Arab communities live and work. The management will periodically conduct field assessments to identify suitable locations, where the new outlets will be put up. Among the factors that will be put into consideration are frequency and volume of people’s movements, ethnic composition of people, visiting the area (more Arab composition will provide suitable clientele).