Analysis of the Business Plan of Take Five Sports Bar and Grill

The purpose of this essay is to analyze and compare the business plans of two different companies and identify the strong points and the weak points of each company. It is to be mentioned that a business plan is essential for starting any business. A business plan is referred to a document which is used for planning the details of the business (Davari and Farokhmanesh, 2017). It can be stated that business plans can help address the uncertainties of the business and can help the entrepreneur overcome the same (Schaper et al., 2014). The first business plan to be analyzed is that of Take Five sports Bar and Grill. Take Five Sports Bar and Grill is a themed sports bar with state of the art technology which aims to provide its customers with the ultimate drinking and entertainment experience.  It has a reputation among all the sports bars in the area for having a unique décor and serving unique finger foods.

The first business plan of the company to be analyzed in this report is Take Five Sports Bar and Grill.  The flagship location of the sports bar has been successful in achieving the target of earning two million dollars in the first year of its operation. It is to be noted that the owners of the bar are planning on expanding their business by opening franchises of the restaurant in several other locations. However, to expand the business site surveys and identifying the prime locations where the franchise of the aforementioned bar can be opened needs to be done.  It is to be said that the management of the company has identified that the aforementioned bar has enormous growth population. The expansion of a company is possible by the return on investment from the first and the original flagship store (Smyth and Lecoeuvre, 2015).

• Quality of Food and Beverages – It is to be mentioned that one of the keys of success of any restaurant is maintaining the quality of the products served by them (Jahanshani et al., 2014). The quality of food and beverages served by the aforementioned bar has never been compromised and that is why it is so popular among the youth. The aforementioned bar is also known for providing courteous service to its customers.
• Unique Theme- The theme and décor of the aforementioned bar cum grill is also one of the key factors which has resulted in the success of the bar. The aim of the company is to provide its customers a fun experience while they have a leisurely time at the restaurant. Take Five Sports Bar and Grill has state of the art audio control installed at every booth of the restaurant. It also has a giant screen where live screenings of different sports programs are done. The aforementioned bar also shows more sports programs than any other bar in its area of operations. The state of the art Audio control of the sports bar has been fitted in every booth so that the customers can listen to their favorite music without disturbing others. The ambience of the restaurant suits the theme and decor of the bar. It is not very brightly lit neither is it too gloomy. Take Five aims to provide its customers with a soothing ambience in which they can enjoy their drinks.
• Celebrity Events- It is to be noted that the aforementioned bar is renowned for hosting celebrity events. Take Five also promotes itself by sports celebrities. The aforementioned Bar and Grill is famous among the youth for retail merchandizing. The aforementioned restaurant also has a retail store which offers sports merchandize of premium quality with the logo of the company on it (Varley, R., 2014). Conducting paid promotions by celebrities and retail merchandizing can be considered the unique of the selling point of the aforementioned bar.

• Target Group- After analyzing the business proposal of Take Five Bar it can be said that it targets the youth and the sports enthusiasts. It can be noted that the sports bar is generally preferred by the youth as it passes for a casual hangout spot rather than a typical Fine dining Restaurant. However, due to the same reason it fails to attract customers who do not belong to that age group or sports enthusiasts.
• Pricing- It can be said that the Sports Bar is a posh one, therefore the foods and beverages served by the aforementioned Bar are a little on the expensive side. The price of foods and beverages served by the restaurant is comparatively higher than other sports bars and pubs. The sports bar is known for its unique theme, its soothing ambience and state of the art audio control technology. It is due to the same reason that it targets the affluent rather than the middle class
• Finger Food- Take Bar and Grill provides its customer with a limited choice of cuisines. Take Five Sports Bar serves delicious finger foods to its customers. The signature dishes of Take Five include Barbeque Chicken Wings, streaks, and Barbeque Pork ribs. However the aforementioned bar does not focus on providing its customers with a fine dining restaurant. It presents its customers with a limited choice of cuisines in main course.

• Market Research- After analyzing the business proposal it can be said that conducting a thorough market research is important for the growth and expansion of any business. However in the case of Take Five it can be said that conducting a market research of the other restaurants in the locality, its potential customers, and the tastes and preferences of such customers is important.
• Marketing Strategy- The aforementioned bar can aim to promote itself by improvising its marketing strategy. Advertisement by local media and marketing companies can help promote the business (Moriarty, 2014). It is to be mentioned that advertisement by radio and print media would be the most effective means of advertising (Baker, 2014).
• Management Control- It has to be ensured that the quality of foods and beverages served at all the branches and Franchise of the Take Five Sports Bar and Grill is of the same standard. Cost Controlling at every branch and franchise is also important for growth and success of the business (Tuten and Solomon, 2017) .

• Competing with other Restaurants and Bars- After analyzing the business plan, it can be said that the main challenge faced by the aforementioned restaurant was its competition with other Bar and Restaurants of the locality due to being slightly overpriced than its counterparts. However this challenge was overcome as Take Five was designed to be an upscale themed sports bar targeting a specific the affluent customer group and this set it apart from other sports bars.
• Expanding Business – Expanding the Business was the second challenge faced. It can be noted that opening new branches and franchises of the aforementioned bar was necessary for growth and expansion of business (Baker, 2014). Locating the places where such branches and franchises could be opened was the major challenge. However this was overcome by conducting a thorough market research.

• Calculating costs of every business enterprise is important for its growth and expansion
• Promotion of every business by advertisement and personal contact networking is essential for its success
• Targeting a specific customer group is essential to identify the preferences of customers is essential
• Identifying the Unique selling point is crucial for the standing out in any competitive market
• Finance management is of utmost importance for calculating profits and loss incurred over the years

Kebab-e –Shahi is a themed Pashtun restaurant chain based on Australia. The organization was established in the year of 1992. The organization initially established in New South Wales and later the business got expanded and currently they have more than 6 outlets in Australia. The management of the restaurant is currently eying to be one of the most reputed themed fine-dining restaurant chains in the market of Australia and in need of satisfying all the needs of the target customers.

Kebab-e-Shahi offers premium quality food and beverages to their customers and they have an efficient quality control team that takes care of the quality of the foods and the beverages produced by the restaurant. The management believes that as they are running a fine dining restaurant and that too themed, they should stress on the quality issues. The usp of the organization is that they serve only authentic Pashtu foods like kabuli polao, peshteh, chapli kebab, shorwa, aush, chopan kabob, bolani and many more. The specialty of the organization is that they only use organic vegetables while preparing the dishes and they import the necessary spices directly from Afghanistan.

Analysis of the Business Plan of Kebab-e-Shahi Themed Restaurant Chain

The ambience of the restaurant is designed in a manner that it would attract the attention of the target customers. The restaurant offers Mughal ambience and recruits only Pashtu individuals to make the ambience more authentic. In each restaurant there are a space where people perform cultural activities like singing, karaoke and many more (Baker, 2014). In the main outlet located in New South Wales, the restaurant offers a pool and by the pool, people are allowed to throw private parties.

It is seen that behind the profitability of the organization, the service is one of the most important pillars of success. It can be said that in hospitality industry if the customers are happy with the quality of the services provided by the management they would surely return again and by their voluntary ‘word of mouth’ publicity the organization would expect more customer visits soon. The behavior of the employees is very polite and their helpful nature attracts the attention of the target customers (Varley, R., 2014). The management takes great care in establishing a proper positive mentality among the workforce so that with motivation and enthusiasm they can perform well in the workplace. The management focuses on the training and development procedure with proper caution to ensure the quality of the service provided by the organization.  

One of the few drawbacks of the organization is their pricing structure. Currently their pricing of the food and beverages are more than any restaurant chain of their class. The management of the organization in a press meet stated that their pricing structure is a bit on the higher side because they use only organic vegetables grown in the farms of the organization and they import authentic spices and do not use any packaged spices where preservatives are used to make them long lasting. Apart from that they provide various facilities like pool parties, music and other various facilities and that is their reason behind keeping the pricing on the higher end.

The restaurant is a themed fine dining restaurant and only serves spicy Pashtu food and beverages, there are individuals who have different preferences of food, might not return in future. This might be a weak point for the restaurant as the other multi-cuisine restaurants will not have to face these kinds of challenges (Davari and Farokhmanesh, 2017). However, in current situation, it is seen that the restaurant is not facing any major challenges for this and it is expected that this issue would not bother the management much in future.

Comparison of the Business Plans

In the market of Australia there are existences of many fine dining restaurants which are well established and has huge brand value. In this scenario, it can be said that the organization might face immense challenges if they intend to become the best fine dining restaurant chain in Australia.

In current situation the management of the organization has to focus on their pricing structure in order to sustain the flow of customers in the restaurants. Currently the pricing structure of the organization is quite higher and that is ruining the customer base. In today’s world, there are numerous restaurants which are competing with each other and thus the rivalry is fierce (Varley, R., 2014). Thus it can be said the management should lower the pricing immediately. Apart from that as the restaurant is getting adequate profitability, the management should focus on expanding the business and thus they should open one or two outlets in Australia after doing a proper market survey.

• The management of the organization should stress on promotional activities
• The management of the organization should focus on work safety issues
• The management of the organizations should improve their strategies of marketing

It is seen that Kebab-e-Shahi and Take Five sports bar and grill are two different types of restaurant chains in the market of Australia and both the organizations are currently targeting to be the best restaurant chain in the domestic market. It is seen that the problematic factors that are somehow making the organizations lagging behind are the pricing, fierce rivalry and limited range of cuisines. Thus it can be said that there are a lot of similarities in these factors, but there are some major differences in the approach of both the organizations. It is a fact that Take Five is a sports bar and on the other hand Kebab-e-Shahi is a themed fine dining. Thus the target customers for both the organizations are different and thus it can be said that there will be no market competition among these two restaurant chains.

Conclusion

Thus to conclude, it can be said that both the organizations have some strong pints and some weaker points; the management of both the organizations should work on the weaker points in order to sustain their profitability and productivity in the competitive market. Thus it can be said that the management of both the organization should look for the factors of opportunity in the domestic market and make necessary improvements where it is needed.

Reference List

Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.

Jahanshani, A.A., Hajizadeh, G.M.A., Mirdhamadi, S.A., Nawaser, K. and Khaksar, S.M.S., 2014. Study the effects of customer service and product quality on customer satisfaction and loyalty.

Varley, R., 2014. Retail product management: buying and merchandising. Routledge.

Moriarty, S., Mitchell, N.D., Wells, W.D., Crawford, R., Brennan, L. and Spence-Stone, R., 2014. Advertising: Principles and practice. Pearson Australia.

Davari, A. and Farokhmanesh, T., 2017. Impact of entrepreneurship policies on opportunity to startup. Management Science Letters, 7(9), pp.431-438.

Tuten, T.L. and Solomon, M.R., 2017. Social media marketing. Sage.

Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small business.

Smyth, H. and Lecoeuvre, L., 2015. Differences in decision-making criteria towards the return on marketing investment: A project business perspective. International Journal of Project Management, 33(1), pp.29-40.