Hat302 | Management | A Assessment Answers

You are to develop a formal plan for an F&B concept that you have been working on, and present this in the form of a business proposal. You will be presenting the report to a potential investor, in an attempt to convince them to invest 5300,000 in your idea.

Introduction

Formulated by the group members, the Fine Dining Restaurant ‘Lagoon’ Cuisine demonstrates a premium local and global foods and beverages that emphasize on the local lush tropical, seafood, fruits, exceptional products and cultural diversity, which defines the Southern Pacific. Considering the humid sub-tropical climate, the restaurant’s cuisine will utilize the ‘Mashups F&B Concept’, in reference to the strategic positioning in the market, which necessitates an exclusive and creative style of cuisine. Just like many restaurant owners, our restaurant has a motherhood statement as a Unique Selling Point (USP): “Our foods and beverages are superlative in the Pacific, Local Style or similar to some unique forms of cuisines in the city.” The advantageous point-of-view of this statement is that it illustrates the significance of our foods in terms of taste that surpasses the competitors’ foods. The restaurant is constantly booked, with a waiting list because it produces the best meals, which also draws unique and potential customers.

Discussion

Menus

The menu strategically integrates with the F&B concepts since the customers experience an innovative menu choice that provides the restaurant with a competitive advantage. The menu provides an excellent match according to the showcased choice of a first-class Southern Pacific cuisine. The listings of the foods in the menu section illustrate the ingredients in the foods and visual images of the foods, including other abstract information about the meal. The approach of the menus signifies the context of F&B and the inclusive theme.

The type of cuisines used in the Fine Dining Restaurant is the ‘Regional Cuisine’. This type is centered on the location’s state, national and local segment. The cuisines may be varied depending on trade and food availability. Moreover, the location of the restaurant is in an area with sub-tropical climate and a diversified cultural heritage. One fundamental definition of the cuisine is that it defines the methodology of preparing traditional foods that are eaten in daily lives of the people in the location. This type of cuisine has a notable distinction from those produced by competitors.

The menu includes three Appetizers: fresh light salads, soups and icy fruit coolers; five Main: fine dining meat, chicken skewers, finest seafood, spicy noodles soups and pork cutlets; and three desserts: espresso coffee, international cheese and house made sorbets.

Recipe

Recipes 1: Pork Cutlets

Ingredients: Pork tenderloin, half-cup breadcrumbs, sugar, one teaspoon paprika, 1 tsp canola oil, eggs and salt.

Procedure

Step 1: The oven should be preheat to approximately 400 degree F, and cost the rimmed sheet with cooking sprayer

Step 2: Holding the knife at an angle of 45 degrees, slice the pork meat into thin cutlets

Step 3: Make a mixture of sugar, breadcrumbs and salt in a dish. Drizzle the mixture with oil and stir using a fork. Then, the pork should be dipped in eggs (that had been stirred in a separate dish). Press to breading mixture until it has been coated evenly.

Step 4: Prepare the baking sheet and place the pork there. Bake to pink color at the center while reading the thermometer at 145 degree F at sixteen minutes.

Recipes 1: Chicken Skewers

Ingredients: Quarter cup veg oil, quarter cup honey, quarter cup soy sauce, eight skinless and boneless chicken and black pepper

Step 1: Whisk oil, soy sauce, honey and pepper into a large dish. Research the marinade before adding chicken into kabobs. Place garlic, peppers, onions and chicken in a bowl. Marinate for 2 hours in the refrigerator.

Step 2: Ensure the grill is preheat to high temperature

Step 3: Remove the marinade from vegetables and chicken. Thread vegetables and chicken in skewers

Step 4: ensure the grill grate is lightly oiled. On the grill, place the skewers. Cook for more than 12 minute to around 15 min until when the chicken juice becomes clear. Lastly, brush and turn marinade.

Pricing

The restaurant’s managers define the methodology of pricing as a significant tool to enhancing profits and the entire success of the restaurant. The Fine Dining considers the enhancement of a strategic pricing methodology (the differential method) that involves reviewing the gross profit margin. The formula of pricing is given as:

Food/beverage cost per portion + Gross Profit = Selling Price

When the amount of profit contribution should be set uniformly to all the clients, the Fine Dining Restaurant may use:

Sales – food cost/no. of guests = Average Gross Profit

The determine the prices of food and beverage, the restaurant considers multiple factors like, service type, meal occasions, level of the restaurant, competition, market mix (4P’s) and profit margin.

Theme and Ambience

The Fine Dining restaurant needs a creative theme, which will connect the location’s environment with the culture and menu style. Thus, the restaurant specializes in the Barbeque (BBQ) theme. The restaurant embraces a rustic surrounding, which provides a premium atmosphere to clienteles. Moreover, there is background music that is favorite based on the cultural heritage of the region. The management acknowledges that sounds provide a perfect feeling, which connects the mood of the guests hence triggering memories and emotions. Listening to a sweet sensory part of the music that the restaurant has, clients will indeed feel an excellent impact of emotions, food sizzling or gentle babbling while in the restaurant. The selected theme connects to the food and beverage concept since it provides clienteles with perfect experiences of the strategic location. Moreover, the term ‘Fine Dining’ stimulates many forms of images of the restaurant. These assumptions and images range from crispy white tablecloths to excellent and understanding waiters.  Just as the name suggests, the restaurant has the finest dishes, atmosphere and services.

The ambience and theme at Fine Dining is a perfect match for clienteles because they need to feel more special. Apart from experience alone, the restaurant ensures that the desired level of hospitality of rendered to the customers. Hence, matching the theme with proper lighting system matches the ethos of the overall F&B concept that will make the guest to memorize the experience.

Facility Layout and Design

Each facet of the Fine Dining Restaurant and layout is a baseline and concept that the management embraces. A greater the concept and goal, the more assets need to align to the recommendable elements. Hence, the restaurant design incorporates clientele, menu and price points, which supports the restaurant’s layout and the concept. The elements support each other and no elements outstands another without considering the interest of consumers.

Figure 1: Facility Layout and Design

The Entrance: The entrance of the Fine Dining is as significant as the interior section when it comes to targeting brand loyal customers. Reflecting to the theme, the restaurant utilizes signs, lighting systems, music, flowers and awnings to facilitate an eye-catching entrance for guests. The bar, dining sections and kitchen are also fundamental sections of the restaurant layout.

Waiting Section: This section is rare for many restaurants but significant to the Fine Dining. A waiting section is a designate area for client wait that is kept separate. The section includes chairs for clients to wait to particular services comfortable. Moreover, this section has a menu for guests to go through while waiting to be served.

The Bar: The Fine Dining is a full-service restaurant with a space set aside for clients to sit and have a drink and their desired meals. The section is as welcoming as the dining section, including all the functions of a restaurant like service ordering, points of picking up drinks.

The Dining Section: The dining section does no only facilitate the desired mood of the restaurant, but also affects the methodology of staffing format, clients’ conform and dining experience. It is at this point, where clients gather to have their ordered meals. In reference to the restaurant’s mashups concept, this section is comfortable and welcoming, with a holding capacity of 100 guests.

Kitchen Area: At the midst of any restaurant, there has to be a kitchen. Despite the fact that many commercial kitchens do not provide a view of its public, the Fine Dining Restaurant’s layout of the kitchen is as fundamental as that of the dining area. The kitchen size it almost half that of the dining in order to accumulate all the commercial equipment the restaurant has.

The Restrooms: the restaurant’s ambience and design are also reflected to the restrooms. This section is checked daily during the start of a certain shift. Thus, the restaurant will assign someone who will refill any paperwork or orders regarding room booking.

Apart from the layout, there are many factors, which play a fundamental role to enhancing the experience of clients. Since the restaurant focusses on premium services and foods, it does not overlook its layout because it has a role to play in the desired experience of potential clients. The design and layout of the restaurant is capable of influencing the ordering conduct of clients. Moreover, the layout has a critical role in enabling the workflow and operations of the Fine Dining.

Equipment Required

The equipment to be used includes:

• Refrigeration appliances
• Commercial grill
• Griddles
• Salamander broilers
• Ice machines
• Commercial shelving

The Fine Dining Restaurant utilizes electronically powered equipment since:

• They are easier and cheaper to install. All you need to do is to put a plug in a socket, even though some need to be hardwired in the restaurant’s supply system
• The equipment is efficient compared to gas powered equipment. This is because there form of energy is converted directly to heat while gas’s heat is sent to flue.

Maintenance Practice: (1) Salamander Broilers

• Salamander Broilers need to be checked regularly and maintained by competent specialists
• The grills should be unplugged from its main sockets to allow cooling before cleaning
• Avoid the use of spray, water jets or splashing water directly to the equipment
• Avoid submerging the electric plug, product or the power cord in any form of liquid

Maintenance Practice: (2) Refrigeration Equipment

This type of equipment is delivered by the maker in a perfect working status and even verified through thermal scanning, commissioning scanning or using a third party to credit the equipment. In that case, to maintain the expected lifespan:

• A regular inspection program should be launched
• At least two fundamental elements of the equipment require maintenance. These are insulted envelop and deep freezers

Type and Standard of Service

The standard of service instituted by the restaurant mentioned in this paper is in adherence with the fine dining service of other global restaurants. Furthermore, as recognized by most people, a fine dining restaurant always carries along with complicated menus and incorporates classy commodities. Therefore, it is high time that fine dining managers should institute a more sophisticated and refinement with these restaurants. Thus, other owners may insist on customer booking for space before they come to dine. Additionally, in some there is stated code of conduct, which should be carried before being served. For this reason, most employees who are hired in the fining dining restaurants are highly experienced which enables them cater for the customer’s needs.

When guests arrive, they will be showcased to the actual surrounding of the restaurant through oral presentation, whereby they will be expected to check the available tables. After the guests have selected the tables, the waiter will then lead the visitors to the tables and introduce the menu to them. The waiters will the drinks, meals and desserts to the guests before they proceed to the checkout process. After everything is complete, the restaurant will then thank the visitor for coming and allow them to leave. Lastly, the waiters will clean the tables to ensure a hygienic environment is available for other approaching guests.

Service Flow Chart for Fine Dining Restaurant

Production System and Procedures

Taking into account the environment and the dimensions of the fine dining restaurant, it is best suited for the cook chill system. This is due to less cost incurred with the cook chill systems, since it comprises of higher food processing methods, which provide much ease during the foodservice process. The cook chill service incorporates the food preparation, consequently followed by abrupt chilling process, and effective storage process which is temperature regulated (A span of 5 days). If need arises the food should be rejuvenated prior the service.

Figure 3: Production Schedule

Purchasing, Receiving, Storage and Inventory Control Practices

Purchasing – the process of purchasing involves actions that starts by determining supply and beverage needs and ends when the products are sold. The purchasers of Fine Dining have to determine what products they need to purchase, and the quantity of their products upon an order. At the restaurant, purchasing of drinks is very different from buying foods. The pricing of foods and beverages is has strict controls that have been imposed by the government foods and beverage agencies; hence little price flexibility is witnessed.  However, the clients purchase the dishes according to the stipulate pricing plan.

Receiving – this occurs in food evaluation process where food is inspected in order to check the quality and any contaminants that might be present in the food. This is also checked through legal checkpoints, which also ensures that the right kind of food has been delivered to the premises ordered. This procedure incorporates:

Storage – ideas concerning the storing of food within the restaurant mainly relates to various availing of food equipment and facilities, the safety of the storage process, the geographical location of the storage facilities, its dating and the cost of stored food in the restaurant. Thus, the activities relating to the food storage process is shown below:

Inventory

Commencing with the inventory control units + the delivery process = Food at hand – Concluding inventory = consumed food

Scheming of inventory processes will thus minimize the expenses of food costs, minimize food wastage, eliminate theft, minimize the storage need, and reduce the danger of food spoilage. Thus, within the fine dining restaurant the most appropriate inventory to be instituted is shown below:

Human Resource Practices

The core staffing concern, which should be pointed out within the fine dining restaurant business model, is the ratio disparity existing between the employees and its staff members. For instance, for a prominent business restaurant it is approximated about $1.3M to be utilized during the initial year of operation. Thus considering a weekly sale of $40 and the restaurant will be selling about 744 in every week; hence, it is projected that the weekly sales will be over $30. Since there about 30 tables in use, we should thus imagine the level of staffing within the restaurant. With the business closing shifts, let us state that we have about three waiters, one chef, one bartender one general manager, one host, and three line cooks.

Thus, is it possible for using dividing 10 tables per each waiter and about 4 chefs in the kitchen making meals estimating to $100 for 90 tickets on Saturday? Hence, if the most preferred drink is alcohol, then do we provide mixed drinks of wine within the restaurant’s product line? Thus if it is recommended that there should be mixed drinks then the restaurant will require more than one bartender or more. For instance, the restaurant’s workforce can be divided with about 50% of the employees dealing with food preparatory processes while the other half is specialized with the drinks. This will depend if the customers will demand a different mix of the drinks.

Therefore, it is high time for the allotting of individual task based on the cost per hour. With the aid of the excel workbook, I have been in a position of evaluating the cost of each bus boy, chef, a waiter etc. Additionally, balancing these shifts transversely will be effective; this will ensure that adequate numbers of employees are availed during the opening of the restaurant, which means that employees will have to work during the weekends. Consequently, the fine dining restaurant prefers the use of external hiring processes, which is a great foundation of getting recruits. Lastly, it is projected that the restaurant will have employees who have vast knowledge of the normal operation of restaurants and cafes.

Figure 4: Training Program

Marketing Plan

Generally, the Fine Dining Restaurant comprises of features, which accommodates family togetherness and upholds the traditional heritage of the community around it. Thus, the restaurant is projected to rise above the food industry market by considering customer service and food excellence and quality within its operations. Therefore, with the product’s exceptional and orientation based on the past events reveal a clear picture for the restaurant’s excellence.

The Fine Dining Restaurant 4P’s – product, promotion, price, and place are used by the restaurant as effective marketing tools to improve the restaurant sales. Changing any factor of the marketing mix of the restaurant would result direct effect of the restaurant’s sales and gross profits. A brilliant example of using price of products within the restaurant’s marketing mix will be the selling of the Filet Mignon. For example a Filet Mignon sold at about $100, will produce substantial profits although there will be reduced number of customers purchasing the commodity.

PRODUCT – Majority of might think that the product mentioned is the food prepared. Actually, this is segment to be analyzed although not the whole part. The fine dining restaurant comprises of a vast range of product service. This involves the nature of the food, the mode of service, and the customer support (like the waiters, counter people, and the cashier), the hours of service, restrooms and more. Therefore, it is high time the restaurant should make clear distinction through working hard in achieving uniqueness. This can focus on creating uniqueness in the menu, the decorations, cleanliness, staff experience, and the operating at the required time.

PLACE – this concept relates to the service delivery and the place where the service should be delivered. For example the place can be the restaurant deliveries, phone orders, mobile trucks, catering etc. What is it required? The process should be made easier. The restaurant should provide the most demanded option of delivery service. The restaurant should allow customer to send order deliveries in order to increase efficiency. Additionally the restaurant should have a parking area where their delivery carps will be parked upon accomplishment of a service delivery process.

PPROMOTION – advertising is an appropriate means of letting the customers know on the type of product service provided by the restaurant. Therefore, promotion is sole and part of the marketing process. Thus, the promotional strategies can be either a push or a pull. Various enticements, which include free goods and minimization of the product prices, are always set to encourage consumer purchase of the product.  Therefore, the promotion technique of the fine dining restaurant should be in the right state by incorporating the use of coupons, mailing, newspapers, radio etc.

PRICE – this relates to the value of the product in the market. Prioritizing price within the restaurant is very important. Although the price can range specifically during holidays include the lunch specials, Tuesday night special, early bird, and the happy hours. Also during these periods, customers can be offered discounts, for example buy one get two.

Consequently, the sales period success of three months will be determined on how the restaurant’s customers are served also. The initial establishment of the business will be set in order to test if there is need for expanding in the outside markets. Therefore establishing many branches in the marketplace will enable the company acquires a unique brand within the company. Incorporation of the various domestic media and common stores within the country of operation will also be used.

Basic Financial Information

Thus, retail trade in the external sector will be hired on a specific geographical location for example the shopping malls. The fine dining restaurant main proposition is on space A allocation in order to get to a wider market target.

Starting capital and other requirements will be provided through the proprietor’s investment processes.

Projected Profit and Loss

As shown within the restaurant’s budget, fine dining encounter a loss of about $10000, which is similar to the profit gained within the first three months of operation, which will necessitate the utilization of the funds in the reservations. With an increase in the sales levels of Fine dining restaurant will diverse into different geographical locations which will assertively lead to the expansion of the restaurants brand image. Therefore, recognition of the restaurant’s image will permit the partaking of cheaper locations and preserving their market trend as being the topmost restaurant.

Conclusion

In conclusion, the Fine Dining Restaurant will utilize the ‘Mashups F&B Concept’, in reference to the strategic positioning in the market, which necessitates an exclusive and creative style of cuisine. The concept requires funding since the sector of food and beverage is now one of the largest assets to the enhancement of exponential company growth over the past few decades. For instance, this year alone, a restaurant in Melbourne (Culinary Hub) has reported an approximate 32.8% of more food and beverage expenditure that contributes about $5.5 billion to the Melbourne’s yearly economy. Thus, this sector is going viral and will be profitable when entrepreneurs take advantage of this chance.