Business Plan On New Fast Food Resturant
Business Plan On New Fast Food Resturant
Business Plan On New Fast Food Resturant
Executive summary
Chicken Republic (Fast and delicious) is a new fast food restaurant in the Uganda. This was
established in 2022 in Matugga town area. It was established for healthy and fresh food for the
customer. We segmented our product based on demographic and targeted customers in and
around the town .We offered for them healthy foods which are not very costly, so they can easily
afford to pay. We have only one outlet in Matugga as a new local fast food restaurant / Take
Away .This is our manufacturer brand. We deliver our food to the customer directly. We set our
food pricing based on cost and the competition. We provide full service when they order the
food. We’ve designed our promotion message keeping our target audiences in mind. The
promotion message of our restaurant is “Fast & Delicious”. We chose this message because
“Fast” always represent youth and youngsters don’t like to wait. Our communication media is a
bit of both personal and non-personal. As we’re a new company we don’t want to do any
experiment with our promotional budget. So, we’ll follow the Competitive Parity method.
Page|2
Table of Content
Introduction
A fast food restaurant is known as quick service restaurant offering minimal table service. A fast
food restaurant generally offers a limited menu, is cooked in bulk on advance and kept hot when
need to deliver . Depending on the establishment, servings may be ordered from attendants of the
customer. At the end of the line a cashier rings up the purchases. At some self-service cafeterias,
purchases are priced by weight, rather than by individual item.
In Bangladesh fast food has become popular with the effect of globalization. Many people,
specifically the younger generation are consuming various types of fast foods everyday as these
are convenient, time saving and tasty. Bangladeshi Consumer choice fast food restaurant depends
on particular factors i.e. quality, variation, location, price, environment, and many more aspects.
Hangout is a local fast food restaurant in Bangladesh started in 2015.It started for offering
healthier, fresh, Custom made burger, sandwich and other food which offered other local fast
food chain restaurant like CP, sweet and sweet, etc. The concept of our product is delivering
best food at a lower cost in Dhaka city. Our main priority is to establish one outlet in
Bashundhara Road. It‟s a crowded area and there are two University and more school and
college because our main target consumers are young generation. Letter our effort will be a
further development of more retail outlets in the surrounding area.
Page|4
Vision
Mission
Market Segmentation
Our segmenting market is Demographic based. We divides the market into groups based on
based on variables such as
1. Age
2. Income
3. Education
4. Religion
5. Race and generation.
Page|5
We operate our business in one geographical area and we pay attention to geographical
differences in need and wants.
We are targeting young generation people as our primary market because this type of customer is
very much interested to eat fast food items. Bashundhara road is the place to meet and hang out
after school and University. Due to educational area it is common to eat and hangout with their
friends.
Market Targeting
Our selected target market is Micromarketing, as a new fast food restaurant we want to make
product based on individuals and location. Our target is local market but our secondary market is
concentrated marketing. We will make food every effectively and efficiently .Our mission is
attaining in class productivity and efficiency so we will concentrate tailoring food preferences on
individual customer.
Market positioning
As a new in the competitive market. We differentiated our product based on service, product and
people. Hangout (fast and delicious) this tagline will come every customer‟s mind. Our food will
be healthy and fresh that is our prod product strategy positioning, our service will be very fast,
customer no need to late for food. We also position our product based on people. We already say
that out main target is student not all people so we differs people on young generation. They will
know how our product.
Our product features consist of three levels of product. Our product features are below-
Page|6
Core product
1. Unique taste
2. Unique environment
5. Excellent value
We believe that these things will be satisfied our customers which they are expecting from our
products.
Augmented
product
Actual
product
Core
product
Page|7
Actual product
Actual product of our business will be its brand name „Hang Out‟, features which will capable of
gratifying a particular customer need, unique design, packaging as per fast food outlets standard,
i.e. Paper and plastic on the go consumption and hygiene and healthy food for all sort of
customers.
Augmented product
-Upgrades product
Product branding
Good brand names can greatly successive point for a product or a business. We select our Brand
name Hangout and tagline (Fast & Delicious) with very carefully. Because, our target customers
are mainly university and school going students.
On the other hand Hangout name is easy to pronounce among to the student and they are well
known about this word, so this name can be recognized among them. Hangout is a distinctive
brand name in Bashundhara area as well as Dhaka city
Our brand name easily translate in every area in the world, people all over the word though our
market target is not worldwide but many foreigner comes to study in NSU, IUB for graduation
and Undergraduation, among them Hangout can be easily famous .
Page|9
Our Brand name Hangout (Fast & Delicious) are registered from Dhaka North City Corporation
and legally certified from BSTI.
Brand Sponsorship
We are fast food manufacturer in Bashundhara area .So our brand sponsorship is manufacturer
brand. We have own brand name which is Hangout (fast and delicious ) .We are manufacturing
all types of fast food in our restaurant through our special and qualify cook those are previously
worked in renowned fast food restaurant in Bangladesh. As a manufacturing brand we selling
food directly to the customer and we don‟t have any branch, private brand ,retail store without
bashundhara branch.
Managing brands
As a new fast food brand in Bangladesh we just start our business and trying to create brand
loyalty among our targeted customer.we don‟t know what will happen in the future .But we will
manage our brand name Hangout through Advertizing (when will be one of the leading fast food
brand in the local market) .We will ask our customer for their experience when they eat our food
and ask them if we have any mistake when we serve the food items. If we will satisfy our
targeted customer they will be our loyal customer and finally they will share their experience to
others about our better service.
Product pricing
Cost based
The customer‟s perception of value is an important determinant of the price charged. The danger
of using low price as a marketing tool is that the customer may feel that quality is being
P a g e | 10
1. Rent
2. Employees salaries
3. Restaurant operator license
4. Utilities
5. Food manufacturing equipment
Variable cost-
1. Raw food
2. Salaries for extra staff during special event
3. Packaging cost
Besides cost based pricing we set our food price based on competitive price. As a local food
restaurant we can‟t only set food price based on cost because consumer will think it‟s not fair
price then they will be dissatisfied.
Hangout keep low price on all foods to compete with other local fast food restaurant.
Our external pricing consideration include the nature of the market, demand and environment
factors such as the-
1. Economic condition
2. Government actions
3. The market and demand
Economic condition
At the time of setting price we consider our local inflation rate, interest rate, racy and recession
condition of business. Our selected area is comfortable for this type of condition. In Bashundhara
area people have high economic condition.
Government actions:
Government actions affect our price setting. Such as 15% VAT on food. Sometimes government
set the Raw materials, as results we need to buy that raw food from the farmers sets by
government .Political unrest also affect our price. Therefore we have to buy that product at a high
rate.
In Bashundhara road there are some fast food outlets and there is also a Pizza Hut. Besides, in
Bashundhara road one of the largest shopping mall JAMUNA FUTURE PARK is situated. There
are many local fast food restaurants. So, the market is Monopolistic. We set our price very
sensitively based on market competitor.
Internal factor
P a g e | 12
As a new and small food outlet, Owner of the Hangout decides what will be the food price
because this restaurant is local based and area is not so large.
Marketing strategy:As new competitor in a local market we are trying to attract new customer
so we decided to low price and keep other promotional offer rather than other local fast food
restaurant but not at all product.
Image of the firm: Most of the time price setting depends on the organizational image.We are
new in the market so we don‟t have any previous image so that we cant set high price for the
customer.
Product life cycle: During the introductory level we charge low price for attracting customer.
Marketing channel:
Place describes the channels Hangout uses to position its products in the marketplace. As a business-
toconsumer company, Hangout sells directly to its consumers.
P a g e | 13
Customer
Manufacturer
Raw materials
suppliers
As we know that Hangout is a local fast food restaurant so we want sell our product directly to our
customer through our own Hangout outlet. We just buy chicken, bread & other materials from raw
materials suppliers‟ .Chicken from Saad chicken house, Bread from Rifat bread.
Our targeted customer is young generation so we decided that our food outlet will be based on
P a g e | 14
Organizational approach (Chain store) and based on amount of service. We will open our outlet 6 days in
a week and our services will be full. When customer will order their food our waiter will serve those
items effectively.
As our outlet name is Hangout so Customer can sit here and can enjoy food with their friend.
Transportation
We are serving our food only Bashundhara area. We kept an option for home delivery for our residential
area‟s customer within 30 minutes through our motorbike by cash on delivery. we did not decided home
delivery in other parts of the Dhaka city right now.
Inventory management
Inventory management affects customer satisfaction. We are always maintaining food items
based on customer needs. We did not make too many or too little food in a day.
We make food based on customer demand and serve immediately when needed.
Promotion
Target Audience
We have targeted our audiences on the basis of our location. Bashundhara is both a residential
and educational area, our target audience is the young generation, the students of schools and
universities. Students always look for a place to hang-out with their friends and our restaurant
can be that place with the offering of delicious food & good services.
P a g e | 15
Communication Objective
We‟ll try to get the attention of our target audiences. We‟ll keep our promotional activities to our
business area. First, we‟ll inform them about our restaurant. For example through distributing
Leaflets.
Then, we‟ll persuade our audiences to like our product through our promotional activities. For
example, setup stalls in NSU “Hat-Bazaar” and grab “Opinion Leaders” to spread the taste of our
products. So that others may refer us.
After that, we‟ll convince our target audiences to buy our products, make them believe that our
products are good and have better or the same quality as our competitors.
Finally, if the target audiences don‟t show interest we‟ll convince them to have a taste of our
products.
Promotion Message
We‟ve designed our promotion message keeping our target audiences in mind. The promotion
message of our restaurant is “Fast & Delicious”. We chose this message because “Fast” always
represent youth and youngsters don‟t like to wait. We‟re committed to give our product &
services within a short time. But, we won‟t compromise the quality of our product. We‟re
assuring tasty & quality food within a very short time. So, this is why we say “Fast & Delicious”.
Media
Among the personal communications we‟ll use the Word of Mouth and Buzz Marketing. So, we
can grab Opinion Leaders to spread the knowledge about our restaurant and attract people to be
interested in it.
P a g e | 16
Among the non-personal communications we‟ll use Leaflets and create a Facebook page to
communicate with the target audiences, and to inform them about our products and services.
Promotional Budget
As we‟re a new company we don‟t want to do any experiment with our promotional budget. So,
we‟ll follow the Competitive Parity method, the strategies of our competitors like Downtown
Café, CP, FnF etc. So that, we can avoid promotion wars and represent industry standards.
We‟re new in business. So, our promotion mix strategy is not very costly. Our marketing mix
strategies are –
Advertising: For advertising we‟ll use Leaflets to inform people about our restaurant, its
products and services. We‟ll distribute the Leaflets in the schools and universities of our
business area.
Sales Promotion: To promote our sales we‟ll give some discount offers. For example, we‟ll
give 10% discount on the actual price of our product. Also, we‟ll give Price-Pack offers.
That means if the customers buy a whole package of products they‟ll get a discount price.
We also intend to give small samples of products. If the customers buy a product they‟ll get
a small sample of another product. All these sales promotions will remain only for a certain
period.
Public Relations: To build relations and communicate with our target audiences we won‟t
hire any PR. We‟ll do it by ourselves. Like, the inauguration news of our restaurant, we‟ll
post it into our Facebook page and print Leaflets about it. To inform people about our
discount offers or any coupons we‟ll do the same thing. We‟ll also inform Opinion Leaders
to spread the news about our offers.
P a g e | 17
Personal Selling: For personal selling we‟ll setup stalls in the universities of our business
area. For example, we‟ll setup stall in the periodical “Hat-Bazaar” of North South University
and demonstrate our products there and sell them.
Conclusion
Hangout (fast and delicious) is not so big fast food restaurant as in the local market. There are
many renowned fast food restaurant like KFC, Pizza hut, FFC, BFC but right now we cannot
compete with them. We have shortage of capital that‟s why we can‟t afford too big mass media,
promotion offer and also can‟t target other people of our country. We are new in Bangladesh so
we have only one branch because of shortage of capital. We believe we can give better service to
the customer that they can satisfy. Our wish is our restaurant we be a leading healthy fast food
restaurant by serving more delicious food and better service. If we success in this area we will
open other branch in the side of Dhaka city.
Appendix
1. Principles of Marketing,14e, Philip Kotler
2. Glassdoor
3. Scribd
4. SlideShare
5. Academia.edu
P a g e | 18
6. Bplans
7. Our product list, category, description and pricing (approximately)
onions) Large
P a g e | 19