The project Plan for north Indian Restraurant in Melbourne Victoria. With a budget cost of 300,000$ we spending in full. We choose glenwaverly location for our business
Unit Business Applied challenge
Need a whole financial part for this business we are 5 members so the business going to register as a company.
The Finances
Key objectives & financial review
Question
Explanation
More information
Financial objectives
List your key financial objectives. These can be in the form of sales targets or profit targets. You could also list your main financial management goals such as cost reduction targets.
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Finance required
How much money up-front do you need? Where will you obtain the funds? What portion will you be seeking from loans, investors, business partners, friends or relatives, venture capital or government funding? How much of your own money are you contributing towards the business?
Visit our Business finances topic.
Assumptions
Question
Explanation
More information
Assumptions
List your financial assumptions. These can include seasonal adjustments, drought, economy or interest rates etc.
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Start-up costs for [YEAR] table
Preparing your start-up costs table
The start-up costs table example contains a list of suggested costs a typical business may incur in its first year of operation. Please take these into consideration when preparing your start-up costing. Please note: The table assumes all figures are GST inclusive.
Estimating costs
Whether you have already started or intending to start you will need to fill in Actual or Estimated figures against the items in the table. If using estimated costs, please label them clearly.
See our Prepare financial reports page in our Business finances topic.
Balance sheet forecast table
Preparing your balance sheet forecast
The balance sheet forecast example contains a list of suggested assets and liabilities a typical business may have. Please take these into consideration when preparing your balance sheet forecast. Please note: The table assumes all figures are GST inclusive.
Calculations
· Net assets equals
Total assets minus Total liabilities.
See our Prepare financial reports page in our Business finances topic.
Profit & loss forecast table
Preparing your profit & loss forecast
The profit and loss forecast example contains a list of suggested profit items and expenses a typical business may have. Please take these into consideration when preparing your profit & loss forecast. Please note: The table assumes all figures are GST inclusive.
Calculations:
· Gross profit/net sales equals
Sales minus cost of goods sold minus any other expenses related to the production of a good or service.
· Net profit equals
Gross profit/net sales minus Total expenses.
See our Prepare financial reports page in our Business finances topic.
Expected cash flow table
Preparing your cash flow statement
The Expected cash flow example contains a list of suggested incoming and outgoing cash items a typical business may have. Please take these into consideration when preparing your cash flow statement. Please note: The table assumes all figures are GST inclusive.
Calculations:
· Opening balance equals
Closing balance of previous month.
· Monthly cash balance equals
Total incoming minus Total outgoing.
· Closing balance equals
Opening balance plus Total incoming minus Total outgoing.
See our Prepare financial reports page in our Business finances topic.
Break-even analysis table
Calculations:
· Percentage of price that is profit equals
(Average price of each product/service sold minus Average cost of each product/service to make/deliver) divided by Average price of each product/service sold.
· Total sales needed to
eak-even equals
Number of units sold needed to
eak-even multiplied by Average price of each product/service sold.
· Number of units sold needed to
eak-even equals
Fixed costs for the month/year divided by (Average price of each product/service sold minus Average cost of each product/service to make/deliver).
See our Analyse your finances page in our Business finances topic.
The Finances - Projected/Budgetted Financials
Key objectives & financial review
Financial objectives
[List your key financial objectives. These can be in the form of sales or profit targets. You could also list your main financial management goals such as cost reduction targets.]
Breakeven by end of Year 3
Finance required
[How much money up-front do you need? Where will you obtain the funds? What portion will you be seeking from loans, investors, business partners, friends or relatives, venture capital or government funding? How much of your own money are you contributing towards the business?]
Partnerships / PTY Ltd – owners/shareholders contribution ? $300,000 budget
Assumptions – Logical
The financial tables on the subsequent pages are based on the assumptions listed below:
· [List your financial assumptions. These can include seasonal adjustments, drought or interest rates etc.]
· Business Structure – owners contribution will be …….
· Owners salaries – take no salaries in Year 1 of operations
· Projected Sales/ fees
· Technique used – Quantify the Market
· Prepaid Bonds – Leases/ Rent : Utilities ( water, electricity gas ) - $$$$$
· Major expenses – based on Industry Benchmark Ratios ( IBIS Report )
· Cost of raw materials _ $$$$
· Employee salaries - $$$$$ minimum wage in Australia aproox $20.00 per h
· Insurances - $$$$$$
· Maintenance _$$$$$$
· Professional Body Assosciations - $$$$
· Interest expense - $$$$$
· Advertising / Marketing - $$$$$
· Distribution of Profits _ $$$$$
· WORKING CAPITAL ( cash flow needed in first 6-9months of operations – identify this figure after preparing a projected cash flow statement . )
START UP COSTS ?????
Start-up costs for [YEAR]
[Double-click the table below to enter your details or attach your own start up costing sheet at the back of this business plan.]
Balance sheet forecast
Victoria University
Applied Business Challenge
BPD3100
Assessment 3:
Business Plan
‘BOJIO’
14th March 2022
Aylin s4635530
Bryan s4642552
Ning s4626074
Ethan s4625838
Elliot s4619139
Serene Ch’ng Ying s4628398
Executive Summary
This business plan would present the innovative idea of Bojio. Bojio means “No invite” , where Malaysians would use the slang when they are not invited to a place or event. The business plan of Bojio is inspired by the “Mamak” concept where it is popular in Malaysia. The concept of “Mamak” is simple, it is a restaurant that operates 24/7 serving affordable food for the community and shows sporting events on a TV screen or through a Projector.
Bojio will serve Malaysian Cuisines such as the popular Nasi Lemak, Roti Canai and Teh Tarik. Bojio would operate as a restaurant from morning and would transition into a sports bar at night. The business will market as an affordable place where people can socialise and eat.
The purpose of creating this business is to fill a market gap that was discovered through a survey of 100 responses. Where it is discovered that 85% of the responses would like to try Malaysian Cuisine and 60% would watch sports at a restaurant or a bar.
Bojio would have a business structure of a company with 6 shareholders that will be located in Chapel Street. The business will comprise 10 full time staff with room for part time staff where they would be recruited through interviews. The Business would also pay a total of $1,236.7 for insurance cover. The highest risk that the business would have is burn risk and security risk.
Bojio would also have a marketing strategy through Instagram as an incentive to attract more customers to visit Bojio. The start-up cost of Bojio would be $101,376.75 and the total capital cost would be $174,767. Bojio is expected to
eak even at $502,995.85 of sales with 92 expected customers a day.
Table of Contents:
Executive Summary 1
The Business 4
Business Details 4
Business Structure 4
Business Premises 4
Organisation chart 4
Key personnel 4
Recruitment Options 5
Training Programs 5
Products/services 5
Market Position 6
Anticipated Demand 6
Pricing Strategy 6
Value to customer 6
Growth Potential 7
Insurance 7
Risk Management 8
Legal considerations 11
Operations 13
The Market 14
Market Research 14
Industry Analysis 14
Quantify Your Market 16
Market Targets 16
Your Customers 16
S.W.O.T Analysis 16
Your Competitors 18
Competitor details Table 18
Advertising and Sales: 19
Advertising and promotional strategy table 19
Sales and marketing objectives 21
Unique Selling position 22
Sales and distribution channels 22
The Project 22
Project Summary and Key expectations 22
Project Purpose 23
Objectives 24
Project Plan 24
The Finances 24
Start Up Funds 24
Business Finances Summary 24
Break Even Point 25
Recommendations and Future Growth 25
References 26
Appendices 28
Appendix 1: Survey 28
Appendix 2: Survey Answers 30
Appendix 3: Gantt Chart 33
Appendix 4: Start-Up Costs 34
Appendix 5: Expected Cash Flow 35
Appendix 6: Profit & Loss Forecast 36
Appendix 7: Break Even Point 37
The Business
Business Details
Bojio is trying to sell Malaysian cuisine such as Roti Canai, Nasi Lemak, Teh Tarik and Rendang. Malaysian cuisine comprises 3 major ethnic influences including Malay, Chinese and Indian.
Business Structure
The business structure will be a company with 6 majority shareholders to be entitled 16% each while the main contributor will be 16.67%.
Business Premises
The restaurant will be operating at 362 Chapel Street, South Ya
a Vic 3141. The building area would be approximately 190sqm. The premise is su
ounded by businesses such as Chemist Warehouse, 7/11 and Taco Bell. The Retail traffic would be heavy as businesses like KFC, McDonalds and Taco Bell are around the corner. The rent would be $75,000 P/A.
Organisation chart
The business will have an Operations Manager, Marketing Manager, a drinks barista, Security, 2 chefs and 2 waiters.
Key personnel
Job Title
Skills and Abilities
Operations Manage
Minimum 5 years experience in the F&B industry
Marketing Manage
Minimum 2 years experience in the F&B industry
Drinks Barista
Minimum 2 years experience in the F&B industry. Willing to learn new drinks
Chef
Minimum 2 years experience in the F&B industry. Willing to learn how to make Malaysian Food.
Waite
No minimum experience. Willing to learn a few Malaysian words.
Security
Knows self defence and controlling the crowd.
Recruitment Options
The staff will be recruited through walk-in interviews and phone calls. The Jobs will be advertised through websites like Jora, Linkedin and Seek.
Training Programs
The training program will be provided as chefs and baristas will be required to serve Malaysian cuisine. All training will be provided in-house before the grand opening of the restaurant.
Products/services
Product/ Service
Description
Price ($)
Nasi Lemak
Nasi Lemak is basically Coconut rice with