prepare and monitor budgets project

Le’ Culinaire Hospitality Institute
SITXFIN004 Prepare and monitor budgets project
Question 1:
Janice/you is applying for a bank loan for $150 000, to start her dream café, in consultation with other stakeholders and an accountant develop a business plan for a created café or use the scenario information provided. Uses the templates provided or create your own.
The Business Plan:
Marketing: Flyers and leaflets, freebies, discounts, vouchers, promotional banner, feedback cards, social media events, update the menu with new choices.
Products: Coffee items like Americano, Cappuccino, Espresso and Latte. Australian dishes like Chicken Parmigiani, barbecued snags, lamingtons, Pavlova & Meat Pies. Malaysian, Thai, Greek, Chinese, Italian and Thai foods will also be available.
Customer Demographics: As of 2016 Census, there are 16412 people. Of these there are 58% males and 42% females and of this 1% are Aboriginal and Torres Strait Islander people. People within the age group of 25 to 45 years will be targeted.
Competition and Competitive advantage: Nutie Surry Hills, Bills Surry Hills, Shift Eatery, Neighbourhood, Sticky Fingers, Rumah, Bondi Wholefoods Surry Hills, Paramount Coffee Project, Café Kentaro, Reuben Hills. Average turnover per week is $18000 to $21000 in Surry Hills.
Pricing: Price range of items will be minimum AUD $8 to $1250.
Promotional strategy: Social Media, product giveaways and samples trails, customer referral incentive program, customer appreciation events like prizes and free refreshments, after sales survey.
SWOT Strategy: Strength: Janice Lloyd already experienced in hospitality industry for over 12 years with her first venture in Wild Thyme café.
Weaknesses: New in Surry Hills as a new entrant in café business.
Opportunities: Ability to target office population, business and management professionals and the commuters who comes to shop in this area.
Threats: Pulling existing customers of the already existing business might be difficult.
Store Design: Must be cosy, decorated with minimalist looking artwork and exposed brick wall and sufficient lighting and ventilation.
Operations: Fresh and hygienic foods, customer service with empathy and home delivery.
Business Structure: It will be a sole proprietorship business by Janice Lloyd.
Approvals/ Registrations needed: Liquor licensing, Tax, ABN, zoning and noise restrictions and product and shelf life testing and BYO or bring your own wine or beer license.
Insurance: Public liability insurance for protecting the property from being damaged and anyone injured on the premises.
Location & Lease: Surry Hills, NSW, Australia and the price will be $41000 per annum for a 70 m2 space for the café.
Equipment: Cookeries, tables, chairs, utensils, cups, coffee machines, napkins, table cloth, high chairs etc.
Trading hours: Tuesday to Friday: 6:30 AM to 10 PM; Saturday: 8:00 AM to 11 PM; Sunday: 8:00 AM to 9 PM and Monday closed.
Opening date: 1st April 2021.
People: Head chef X 1; Chefs and cooks X 4; Kitchen hands x 2; Restaurant manager x 1; Barista x 2; Service...