Business PLAN FOR CAFE AQUARIUM

1.1 Synopsis

1.1.1 EXECUTIVE SUMMARY FOR CAFÉ AQUARIUM

Café Aquarium is going to launch one of the suspended Under Sea Life View experience with a lavish café in Vancouver. Café Aquarium is targeting Elite class, Business Persons and Middle Class. Café aquarium has capacity to entertain 300 people at a time. Moreover it provides special room for business persons to conduct their business meetings. Café Aquarium is a wonderful place to experience while dining in quality food.

Café Aquarium is offering variety of dishes and hot and cold drinks like coffee, pizza, burger in different flavors and a lot of more dishes. Customers will be surrounded by sea creatures and calm and peaceful environment which will make them free from their hectic daily life. Café Aquarium is located Vancouver. This city is ideal for our café as it connects with the entire city which makes it easy to capture customers. Unlike conventional restaurants that aims at providing flavorful foods, we mainly focus on satisfying customer want of having mouthwatering food in an unforgettable and multi sensory environment of relaxing sea.

Café Aquarium is based on two floors which includes Basement and Ground Floor and we deal with the microenvironment by adapting changes and take sufficient measures that suits the need of time. In Canada, we are not having any competitor in the manner of providing Under Water Experience which gives us edge over our competitors that deals in coffee desserts and other food items.

We effectively promote and market our café through different channels and strategies. Café Aquarium is well known about its strengths, weaknesses, opportunities and threats and we keep improving ourselves to resolve issues that Café Aquarium is facing.

As far as budget is concerned we have estimated that CA$ 120,000,000/ ( 12 crore ) is required for complete marketing and successful implementation of this business plan which is financed by the three partners of the café and we have also acquired loan for this project. Our estimated expense is 11crore and 30 lacs we will be having profit of 2.5 crore in the first year which will keep growing constantly.

After successfully surpassing the need and demand of people of Canada will open our another branch in another city. The city will be decided on the time of launching new branch that will be based on position and demographics of the city.

2.1 Management Team

We need a manager who can handle restaurant staff and create strong teams in order to make this cafe a successful startup.

3.1 Business Objective

Following are the business objectives which we intent to achieve;

1. Our main objective is to provide the ambience, heartwarming experience that people will get from café aquarium. As our whole building will give the experience to our value
2. Our aim is to maximize our profits while maintaining a long term sustainable growth within this industry. 
3. we would be able to twice the size of our target market and potential customers in presence of negative environmental factors such as inflation rate, unemployment rate and potential politically instability.
4. Seeks to earn a profit of 20.83 % return on investment by the end of first year of business operations, at least 39.16 % return on investment by the end of second year and not less than 65.83% return on investment by the end of third year of business operations

3.2 Value Proposition

1. We are committed to providing reliable, amicable, and professional service to our valuable clients, and to being supportive to local businesses and social activities, friendly to the environment as well as being proactive in the socio economic environments within which we operate.
2. Our distinctive, remember able and stimulating traits of Cafe Aquarium, which can never be erased from minds of our customers is a core reason that the ambience, pleasure and mind relaxing environment we will give to them with high quality of serving of coffee  , no place in  Vancouver, Canada facilitate with such sort of mind blowing place.

4.1 Marketing Approach

Before dive into marketing approach we would be using for our business plan. It is necessary to analysis current market situation and trends of the market.

4.1.1        Current Marketing Situation Analysis

Company and Product/Service Overview

1. Café aquarium is newly developed Café Restaurant. It is a partnership firm consisting three partners.
2. It is attractive for elite class, tourists, youngsters and business persons.
3. It provides a deep sea view in the café while having the food and drinks.
4. At present we are offering variety of national and international dishes. Our menu mainly consist of Coffee, Tea, Dessert, Pizza, Burger and Omelet in different flavors and other dishes mentioned below.
5. Café Aquarium is offering perfect combination of food and beverages that can be expected at a time.
6. Cafe Aquarium is customer oriented providing quality experience, customer value through its ambiance and quality food and seeks for long term customer loyalty.
7. People who wants to enjoy some peaceful moments are our priority because we are providing desired environment to them.
8. According to our keen survey about demographic of Vancouver people are food loving therefore, we have observed that Café Aquarium will get the desired response from at least 10 million people.
9. There is no café or restaurant in Canada providing food and drinks surrounding by the sea environment.
10. Our target is to increase the variety and quality of food we are providing as the time passes.

 Environments

Café Aquarium is subjected to pros and cons of different environmental factors, details of what are appended below:

1. Demographic Forces
2. One of the major changes in the age structure of the population of Vancouver is the increase in the number of young population. This means that Café Aquarium has a high probability of expansion in target market because usually young people are comparably more attracted towards restaurant dining trend.
3. In addition to this, as the population grows it also expands and shift towards bigger cities. For Café Aquarium this means that they may need to open new branches to keep up with demand.

2. Economic Forces
3. By monitoring alarming rate of inflation, unemployment and day to day essential expenditures using economic forecasting, a negative inference can be drawn that Café Aquarium. Also increase in tax rate can bring negative impact on our business.

3. Natural Forces
4. In natural factors Shortage of raw materials and nonrenewable resources like oil, fuel may have an effect on the Café Aquarium future sales as when price of natural resource like oil will rise then resultantly there will be increase in prices of menu which Café Aquarium seeks to offer to customers.
5. The sea creatures including different fishes must be looked after with great care. If the fishes get harm it can affect the environment of Café Aquarium. On the contrary new variety of fishes can enhance the ambiance we are providing to target market.

4. Technological Forces
5. Keep changing with the innovations and new technology is as important as providing the quality service. Therefore, Café Aquarium is upfront in technological development in making food and drinks and technology involved in the environment.
6. Café Aquarium has a special database system to record the names, address and contact information of all customers, so that in future when the person rings again, the customer service attendant can address the customer by name. This will create a feeling in a customer that how much we are concerned about them

5. Cultural/Social Forces
6. For Café Aquarium, customer health is at foremost therefore in strict compliance of quality standards, Café Aquarium uses best class Halal raw materials in production of its cuisines such as cholesterol free oil is used to keep the customers healthy, therefore this factor will actually have positive affect on this business.

4.2 Marketing Strategy

We are using following marketing strategies to lead in providing great customer value:

1. Conventionally advertising is considered as good distribution channel for dining business such as print, radio and television advertisements helps to entice new customers.
2. Besides this, in this digital age, taking advantage of the Internet marketing and social media increases awareness in people and encourages visits to restaurant.
3. As a matter of fact both of these distribution methods are effective but somehow there remains a need of more control over distribution channels.
4. In addition to above stated distribution channels, we will design novelty items for our restaurant, such as key chains or writing pens, then print the name of our restaurant with a logo on the items and give these souvenir items to customers as a promotional gift, who will visit our restaurant.
5. Direct interaction with customers through telemarketing, customized letters, emails and text messages will also be utilized.
6. Café Aquarium aims to satisfy customer through providing a unique experience of dining under the sea.
7. We will motivate and train our staff through different sessions merely focused on providing best service to customers.
8. We will be study very thoroughly the feedback of customers and adapt changes that are needed according to the time and situation.
9. Furthermore we will also establish one more branch of our restaurant in any other city of Canada to get more potential customers.
10. In order to optimize our profit, we will attract more customers consistently through promotional offers, Co branding with esteemed manufacturers of drinks and through providing outclass services to influence our customers on spreading positive word of mouth about us and recommend others to visit our restaurant

4.3 SWOT ANALAYSIS

4.3.1 Strength

1. Café aquarium is capable of providing multiple services briskly at a same time by providing extra facilities.
2. Our uniqueness and versatile place is our core strength.
3. The management time we hire for our café they have best management expertise, this is our strength because through this we can do much better than others.

4.3.2 Weakness

1. Cafe Aquarium is limited within Vancouver.
2. Everyone cannot approach due to high prices.

 4.3.3 Opportunity

1. The opportunity related to our product is very wide. Through our marketing strategy we target more potential customers, through which we can grow our business which may lead more success.
2. Branches can be established in different cities of Canada to entice more potential customers. This will actually expand the size of our target market.
3. In due course of time we may be able to grab major market share.

4.3.4 Threats

1. The big threat that may have to face that in due course of pandemic time we could face the lockdown situation imposed by government
2. Competitors will attempt to mimic our unique and smart business concept and if this will happen then there is a probability that our customers may be attracted towards other appealing alternatives
3. In due course of time if government will restrict us from exporting fishes , as we export array types of fishes for our aquarium, if this will happen it will be the big loss and threat for a upcoming projects.

4.4 Chosen Target Market

Our target market is elite class, middle class, Business persons. As Café Aquarium is providing a luxurious place to dine in and have coffee and other drinks. The selected targeted market will effectively attracted by the idea of Café Aquarium.

4.4.1 Other Segments Considered

1. We have deliberately not focused lower middle class because our Café Aquarium is highly lavished place to experience something different. The cost of providing unique ambiance and quality food and drinks results in slightly higher prices so the middle class will face difficulty in affording the experience.
2. Likewise keeping in view the psychographic variables of the market, we have purposely not focused dwellers in rural areas because social class, values, lifestyle, interests and activities of such target market has no compatibility with our proposed offerings. Resultantly this market segment seems to have no positive impact on our expected sales.

4.5 Positioning

1. In this modern era people are suffering from stressful life and they keep search for peace at different places. Café Aquarium is providing the ideal place which is peaceful and very calm, away from hectic life schedule. The Under Water View of fishes and other sea creatures will make the customers feel relaxed while our delicious food and drinks will make our customers more cheerful and happy.
2. We also have special offer for business persons, they can book a separate room for their business meeting purpose.

4.6 Marketing Research

In order to ensure successful launch of Café Aquarium, following steps are performed by us for the sake of marketing research.

1. During the initial phase of marketing plan development, several focus groups were held to gain insight into a variety of likely customers.  These focus groups provided useful insight into the decision making process of these consumers.
2. So many surveys were conducted to evaluate attitudes, preference and buying behaviors of target market.
3. Information of current target market and potential customers has been collected through secondary data sources.
4. Competitive analysis was conducted by visiting existing market competitors and analyzing their service offerings.

4.7 Marketing Mix

Café Aquarium is excel in 4 marketing mix (price, product, promotion and place) which are discuss below:

PRICE

• Cafe Aquarium is the first under water cafe in Vancouver but our rate and prices of high class tasty coffee and various dishes are almost same as people have observed in large and lavish restaurants. We do not charge extra ordinary prices as compared to the services we are being provided.
• Apart from this we will use the psychological pricing strategy through which customers will feel comfortable and satisfy with our pricing of coffee, cookies and visiting charging.

PRODUCT

Café Aquarium is the first in its unique style event open in Vancouver. Café Aquarium provides best quality food and drinks that creates demand in the mind of customers. Along with the tangible product we are also giving intangible experience being close to sea life.

PLACE

Aquarium café is located at Gastown which is center and economical his of the city. The location is in middle of the city so the customers will not be hesitate to visit the luxurious and innovated master piece Café Aquarium.

PROMOTION:

We promote our product to attract target customers. This element of the marketing mix covers the marketing communication strategies and tactics that the company uses to reach its customers. The following are the tactics the aquarium café’s promotional mix, arranged according to significance:

1. Direct marketing.
2. Public relations.

5.1 Location

Cafe Aquarium will be located in Canada, Vancouver. In Vancouver, Gas town would be our target location.  Gas town is the oldest area of the region, and it is home to restaurants, galleries and shops in sophisticated Victorian buildings. The district is characterized by its heritage buildings, cobbled streets and iron lamps. Gas town, Canada Place is a short walk away.

6.1 Financing

BUDGET

6.2.1 Money Needed

As per rough estimate, 120,000,000/ (120 crore ) is required for complete marketing and successful implementation of this business plan, which will be financed by the three partners and acquired loan from bank.

6.2.2 Expected Sales

Details of expected revenue and net profit of first three years of CAFE AQUARIUM are as under:

Year – 1

Revenue: 270, 00000/ (2.7 Crore).

Net Profit: 20.83% return on investment.  250, 00000/ (2.5 Crore).

Year – 2

Revenue:  5, 0000000/ (5 Crore)

Net Profit: At least 39.16 % return on investment. 470, 00000/ (4.7 Crore)

Year – 3

Revenue: 830, 00000/ (8.3 Crore)

Net Profit 3: Not less than 65.83% return on investment. 790, 00000/ (7.9 Crore)

3 Expected Expense

Details of major expected expenses in starting the business are as under:

Land Purchasing: 7, 0000000/ (7 Crore)

Infrastructure Building: 4, 0000000/ (4 Crore)

Labor cost: 40, 00000/ (40 Lac)

Registration of Trademark + license from Government: 20, 00000/ (20 Lac)

Details of Operating expenses of first three years of Café Aquarium are as under:

Operating Expenses of year 1: 2,000,000/ (20 Lac)

Operating Expenses of year 2:  3,000,000/ (30 Lac)

Operating Expenses of year 3: 4,000,000/ (40 Lac)

 Controls

Goal:

To achieve a level where target customers gets too gladdened and delighted of our offerings and wants to visit us again and again, to ensure market penetration, long term financial growth, market expansion and strategic growth café aquarium in market.

7.1 Risk Management Plan

As the risk management department, the Project Office and every member of the team shall contribute to the risk matrix of any ongoing risk. Based on participants schedules, the risk management committee decides who the risk manager is. If a risk manager cannot be determined for any unknown reason, a selected project office officer will be chosen. The Risk Manager will hold meetings twice a week after the project has been initiated because the kitchen reconstruction project has such a limited time frame.

7.1.2 Risk Severity Matrix

Red Zone (Major Risk)

Yellow Zone (Moderate Risks)

             Green Zone (Minor Risks)

8.1 Human Resource Management

Detail breakdown of human resource for this café is outlined below;

The two operational areas of our cafe are; Front of House (FOH) and Back of House (BOH). FOH is an area to which the customers can access their restaurants. It consists of the restaurant, bar and other places to visit. On the other side, BOH refers to the restaurants back end, such as the kitchen, storage, etc. This is where only employees are allowed in the restaurant.