Rig Burger Restaurant Business Plan

Table of contents I. Table of contents. 1 II. Executive summary. 2 III. Startup Expenses and Capitalization. 15 IX. Financial plan. 20 II. Executive Summary Rig Burger fast food restaurant is a proposed business venture that will be located in the busiest streets of Kuwait City. This money will be gotten from creditors, investors, economic development funds, grants as well as bank loans. The money acquired will be used to lease a building within the parameters of Kuwait city which will be designed to fit a fast food burger restaurant model. Basically, acquiring sufficient funds will ensure that the restaurant provides products that attract and meet the customer's taste and preferences amongst maintaining a competitive business atmosphere. Being aware of the numerous restaurants within the streets of Kuwait City there is the need to know the potential competitors and how to compete favorably.

III. Besides, the restaurant's secondary objectives are to create other more outlets within the corners of Kuwait City as well as all over the nation. Business philosophy: the restaurant acknowledges the philosophy that, “Our Customer is our Everything” The restaurant seeks to supply high-quality burgers at affordable prices that meet the customers’ budget and satisfaction. The target market of Rig Burger Restaurant is the residents of Kuwait City as well as the tourists visiting the tourist attraction sites. Within proper management, the restaurants will likely attract more customer and hence attracting huge profits that will make the establishment of around 10 similar restaurants within 10 years. The restaurant is poised to take advantage over other similar restaurants within Kuwait City by introducing a CRM software to assist in serving the customers.

Having carried out a thorough market study we are aware of the opportunities that might come along the way and hence we are set to take advantage of them. Rig Burger’s Threats Possible threats, in this case, will be economic downtown as well as the rise of a similar and a competitive burger base next to where Rig Burger restaurant will be located. Legal form of ownership: this business will take the form of sole proprietorship at first place but the chances of it turning to a partnership are very evident so as to make its management rather easy and efficient. IV. Products and Services Rig Burger Restaurant just like any other restaurant is in the fast food industry with its major aim being to maximize profits.

Kids burger ………………………. KD 14. 94 Other supplementary products will be; Kids’ meal e. g. Milkshake, choice fries as well as soda all being sold at various prices. On the other hand, the secondary research was engaged by perusing through various articles, journals, and books which have information regarding fast food restaurants in Kuwait City. Economics The size of the targeted market has approximately 2 million residents who are all potential buyers. The proposed business venture is targeting to get a market share of more than 50% in the next 4 years. The restaurant will be targeting both the residents of Kuwait as well as tourists visiting major attraction sites in Kuwait City. Besides, people coming in the city to carry out businesses and do shopping are also viable customers.

This will be one of the major priorities in the proposed restaurant. In this restaurant, to proof high levels of expertise the restaurant will be engaged in constantly blogging about the kind of services they offer. Moreover, the products will be leveraged on social media sites such as Twitter, Facebook, and Instagram to make the public aware of the products they offer. Besides, the restaurant considers putting in place the CRM software that will allow customers to place orders and online. It also plans to have an effective and efficient delivery system that will make the online business efficient and perform well. The main competitor restaurants that will compete with Rig Burger restaurant include McDonald, KFC Maliya, and Five Guys restaurant.

Notably, they will compete with Rig Burger restaurant on some products which are similar or inter-related. Also, Rig Burger will face indirect competition from other wholesale manufacturers of burgers, wines, buns, and handcuts. Besides, the restaurant will face competition from other restaurants and recreational points selling drinks such as beer and wine. Competitive analysis Competitive advantages After carrying out the market research and a feasibility study it came out bold clear that the market for food industry remains very competitive. The restaurant will also consider giving good working conditions and commissions to the sale agents from time to time to increase their loyalty to the restaurant. Marketing strategy and Sales strategy Before we arrived at Almakan Street being the best location in Kuwait city to locate the restaurant we had carried out a thorough market survey to enable us to pave the way forward in order to penetrate the market and become the most preferred burger restaurant in Kuwait City.

Now, having a detailed structure of the market we are to face we need to draft a strategy that will see us reach as many customers as possible. With the help of hotel and restaurant management restaurant experts, we managed to draft a market strategy that will help us become the preferred restaurant in Kuwait City and meet our set objectives and goals. To ensure that our products and foods reach our customers timely we have adopted a marketing strategy that will seek to empower our sales agents and marketing team. Below are some of the things that Rig Burger has to do so as to promote and advertise its products. We will begin by creating our official website that we will use to advertise our products as well as to attract customers to have a look at our goods.

We will place all our billboards and posters along all the streets of Kuwait City in a strategic position where most residents will see and read. The Rig Burger will also encourage our loyal customers to spread the good news about our brands and products by word of mouth to their friends. It will publicize its products and brands by advertising them on radio stations, newspapers and TV stations. • Online payment transfer through online bank transfer. • Payment through money transfer. VI. Operational Plan This section will deal with the proposed location of Rig Burger restaurant. It also includes its operations, equipment, people, processes and the surrounding environment. Personnel In this restaurant, we focus to employ highly skilled and competent people who will occupy the positions below.

• 2 Van drivers – delivers customers’ orders timely once requests have been made. • 1 Chief executive officer – implementing and monitoring the restaurants vision and mission and compare it with the current status of the restaurant. • 2 The restaurant managers – manage and control the main activities of the restaurant to ensure that they are effectively carried out. • 5 Cleaners – ensures that both the internal and external environments of the restaurant are clean. Below are the projected salaries of the key personnel in Rig Burger Restaurant for the first one year. Chief executive officer……………………………………KD 265,600 Human resource manager……………………………. KD 199,200 Restaurant manager……………………………………. KD 179,280 Sales and Marketing manager………………………. KD 159,360 Accountants and Cashier………………………………. KD 45,650 Miscellaneous expenses………………………………………………………………. KD 26,560 Cost of counter area equipment ………………………………………………………. KD 71,214 Storage hardware cost…………………………………………………………………. KD 41,168 An approximate of KD 166,000 is required for the Rig Burger restaurant.