I like to have an estimateBusiness Venture Assignment IMPORTANCE: This assignment will help you to...

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I like to have an estimateBusiness Venture Assignment IMPORTANCE: This assignment will help you to apply your skills in order to explore the entrepreneurial mindset and elements required for a business plan. It will also enable you to reflect on CSR as it directly applies to the business idea that your group creates. Finally, this assignment will provide you with the opportunity to perform a PESTLE analysis to assess and better understand the operating environment for your business. All of these elements are integral to the new essential employability skills that students need to develop to be successful in today’s business environment.  Business Idea: come up with a business idea. The quicker you come up with an idea. To help you with ideas for businesses look at the following website: https://sbsspe.feddevontario.canada.ca/en/developing-your-ideas - you will need to explain why the team chose the idea you settle on as part of this assignment, in the business opportunity section. Create a partial business plan, once you have a business idea you will need to create a plan. To add a creative element to the plan and to ensure that too much content is not created, students will create a visual report using PowerPoint, see example below: Remember, a business plan helps everyone involved clearly understand what the business is about including the business model, target market, costs involved and, in this case, social responsibility & analytical considerations as well. For the purposes of this assignment, we will create a partial business plan following most of the suggested elements from the Government of Canada website. Be sure to follow the elements outlined in the government of Canada website; remember, to take note of the sections to be omitted as indicated below. Use the website resources included to help you create the plan and understand the elements required. Include the following headings in the plan, remember to go to the website for the rest of the information: https://sbs-spe.feddevontario.canada.ca/en/business-plan-guide. 1. Executive summary (business description) a. Include all elements from this section 2. Identifying your business opportunity   i. Include all elements from this section, except: • Omit the date the business was registered/incorporated, address and contact information – *if you were doing this for real, you would include that information  ii. Include CSR aspect here 3. Marketing and sales strategy of the business plan  i. Include all elements 4. Your team  i. Include all elements, except: • Omit the recruitment, training plans and associated costs 5. Operations:   i. Include the first two sections only: Daily Operations & Facility Requirements  • Omit the last two sections 6. Financial forecasts of the business plan  i. Include Cash Flow statements for 3 months  • Omit the other sections 7. PESTLE Analysis   i. Be sure to connect how the PESTLE relates to the overall business idea in the executive summary. WHEN YOU ARE DONE, CHECK:  Add a Table of Contents for the Business Venture  • that you have completed all sections indicated for the business plan  • that you have used MS PowerPoint to create the plan, export it as a PDF file for submission  • writing: there should be no spelling, typing or grammatical errors in the business plan  • references: use APA in-text citations for any research used in the writing of the business plan, include an APA reference list as the last slide  • formatting: use headings for each section, balanced images; document presentation looks professional. Additional Resources - In addition to the resources needed to complete the business plan, our college library resources on APA & Centre for Academic English for writing, you may find the below resources useful as well; each have excellent examples that are very easy to follow or useful information that will help:  • PESTLE Analysis: https://pestleanalysis.com/how-to-do-a-pestle-analysis/  • How to Write Your Reports in PowerPoint Instead of Word: Nine Tips for Getting Started: https://depictdatastudio.com/how-to-write-your-reports-inpowerpoint/  • APA Citation Guide, Columbia College: https://columbiacollege-ca.libguides.com/apa  • ESL Writing Lab, Owl Purdue: https://owl.purdue.edu/owl/english_as_a_second_language/esl_instructors_tutors/esl_ instructors_and_students.html

Tanmoy · Accepted Answer

Business Venture Assignment – New Restaurant Business
Executive Summary
In the new business venture we will try to setup a new restaurant business in Vancouver, Canada. There is tremendous growth opportunity in setting up a restaurant business in Canada with the growth in the number of tourists and food lovers. Also, emphasize will be given towards providing employment to the local community and serving them through various corporate social responsibilities. This will help the new restaurant business to expand and acquire thousands of customers in Vancouver. We have also provided a projected cash flow statement based on the total expenses to setup the restaurant business in Vancouver. For this we have conducted an analysis which will help to analyse the viability of the new restaurant business in Vancouver. 
Identifying the business opportunities
(i) Hospitality Business: The hospitality business in Canada is on the rise and is growing on a year on year basis. Although the rate of growth in this industry is slow due to covid-19 pandemic situation, it is expected to grow in the future. As of 2019 the food and accommodation industry in Canada reached over 84 thousand in terms of business. Also the CAGR of the hospitality industry in Canada is expected to be more 2.5% by 2025 (Hospitality industry in Canada, Mordor Intelligence, 2020). Based on this we have planned to create a restaurant business in Canada. It will be a 40 seated establishment and will require CAD300000 which will include rent, kitchen equipments, décor, furniture, insurance, some interior decoration and licensing (Ownr).
The location of the business will be in Vancouver. It is one of the world’s most beautiful cities and is considered as the most liveable due to its modern urban facilities and picturesque surroundings. Beside Vancouver there are a number of attractive places like Robson Street, Queen Elizabeth Park, Vancouver Aquarium, Landmark Skyscraper, Stanley Park and Lions Gate Bridge to the Grouse Mountain peak. This will enable to attract more tourists and food lovers in the new restaurant (Hotels.com).
The construction and renovations will consist of operational kitchen, setting up a bar and upgrading the wash room. There will be licensing and permits like registration of the business, liquor license, water and sewerage, food services, parking, occupancy and signage. It will cost approx $10000. There will be Point of Sales (POS) software installed in the restaurant which will operate the business, input the orders, track the sales and inventory, assist in scheduling of the staffs and which will sync with the back-end accounting. This system will also enable in integrating the mobile payments with payment processors.         
The will be a restaurant logo with a chef and a menu which will contain the food that will be served in the restaurant and will be the restaurant’s distinct personality. It will be through solid marketing and a well engineered menu the profits of the restaurant business will be maximized.   
The food menu that will be available in the Vancouver restaurant will be Poutine, Bannock, Butter tarts, Nova Scotian Lobster Rolls, Montreal style bagels, Saskatoon berry pie, Montreal style smoked meat, Peameal bacon, Beavertails, Split pea soup, Caesar Cocktails and may more (Christina Guan, 2021).
(ii) CSR aspects: The Corporate Social Responsibility of the restaurant business will focus on three aspects which are ethics, altruistic and strategic. It will focus on respecting and valuing the workplace and the business community. This will help in establishing customer loyalty and will add towards a positive work atmosphere for enhancement of the restaurant’s goodwill. CSR activities will assist the customers in meeting the restaurant business with great employees and enable the customers to understand the business ideology and operations (Bobby Owner, Cannoli Café; Hyderabad, India). 
Through ethical responsibilities it is necessary to keep the business intact. These include paying the workers at fair standard wage rate, purchasing the raw materials from the local markets to help the seller of the community of business operations. Thus it will be a sustainable business. The altruistic nature of the restaurateurs will help the restaurant to exchange messages and communicate easily with the customers and various stakeholders of the society. Through strategic social responsibilities it will help the company to achieve the financial plan the savings that can be maximised in the restaurant business operations. 
Also the dietary menu will be gluten free and will be for health conscious people. The products will be recycled for maximizing the profits of the restaurant business and this will create a sense of care.

Business Venture Assignment IMPORTANCE: This assignment will help you to apply your skills in order to explore the entrepreneurial mindset and elements required for a business plan. It will also...

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