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Management
Project Report on
GROUP NO:
7
Vamsi Kanth,
Executive Summary
Other menu items are kebobs, chutneys, flat breads and desserts.
Everything is fresh, homemade, and prepared daily.
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And addition to the menu other services including the wine and
beverages and sprits
The industry when analyzed using Porter’s Five Force model, showed that it
is quite attractive, as there is no player in the market at present which
provides a similar offering. “Oceania” faces indirect competition from
players like local restaurant players and pubs
Initially the restaurant would start at one location Bangalore – which would
be acting as separate profit centers and managing their operations
independently. The menus offered would remain same throughout and
regional preference would be taken into consideration for the traditional
menu. The menus are priced differently for weekdays, weekend. The
revenue generation would be based on certain charges for each item.
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“Oceania” is a novel idea and the major reason for its success would be its
innovative serving model. The impression and experience that the people
would enjoy with “Oceania” would lead it forward in the future and this
would be a major platform for them to enjoy their passion and lead a more
happy life.
There is need for this offering in the market and we are passionate about
this idea, so “Oceania” is a means to match the need with our passion.
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Background Information
Concept
The concept of “Oceania” originates from the fact that, in this age of
advanced technology and unorganized restaurants, a majority of our
younger’s and adults feels left behind and looking for something new
fascinating atmosphere restaurants. Also, people need something to make
them feel new every time to themselves with and at present there is no such
offering in the market. “Oceania” aims to become that the place for the
youngsters where they can enjoy their passion.
“Oceania” is different because of the exclusivity for elderly people and the
variety of items offered under a single roof. “Oceania” would be a
restaurant meant especially for younger people where menu contains
traditional favorites, other menu items are kebobs, chutneys, flat breads and
desserts. Everything is fresh, homemade, and prepared daily. In addition to
the menu other services including the wine, beverages, and sprits. Though
“Oceania” has been called a restaurant, it would be more than a just
restaurant, it would be a single stop solution for younger and adult
generations where they acquire new experience and also engage in hobbies
for leading a more fulfilling and enriching life. There would be well attractive
space birthday parties celebrations, and other occasions and many more of
such events to keep people engaged. The positioning of the restaurant
would be a not a restaurant but an amazing place, where one spends one’s
time constructively, experiencing new things.
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Drivers
Business Proposition
Services Offered
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aware of how much better the items taste when they are prepared with the
freshest ingredients and made with love. Other menu items are kebobs,
chutneys, flat breads and desserts. Everything is fresh, homemade, and
prepared daily.
The medium for serving would be both in US and increase India traditions. It
can be assumed that most adults would not be comfortable with only
nontraditional food as the medium of serving and therefore traditional food
would be a more preferred medium. This would primarily the market
coverage and also helps in scalability.
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Customer Profile
On the restaurant will be targeting locals and tourists who are active
restaurant seekers. There will be a special focus on young adults with 15K -
60K of income looking for good food and a great time. In addition to the
young adults with money to spend, On the Water will also be targeting adults
and tourists. The general demographics are males and females ages 20-50
with some or all of a college education.
Pricing Strategy
The price for each of the item mentioned are enlisted below. All the figures
shown below are monthly charges and are in Indian rupees.
Positioning
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Branding:
To build a brand image for itself, the restaurant has chosen the brand
elements like the logo, the tagline that goes well with its value
proposition.
The advertisements should focus on new world, reality, fun and joy in
restaurants, with the target audience.
Communication strategy:
Marketing channels:
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External customers:
Those customers who experienced the reality would definitely spread the
experience about the reality and services provided at “Oceania”. It is
believed that word of mouth would reach create more loyalty and publicity
than any other branding. Word of mouth would be the main form of our
communication to the potential customers.
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The major infrastructure requirement for starting the venture is the space for
setting up the restaurant. Apart from the space requirements, other
requirements include furniture, High quality glass, and cooking furniture as
well. The premises would be taken either on rental or lease and all other
requirements would be purchased. Approximately an area of 1lakh square
feet is being considered for underwater restaurant and approximately an
area of 70000 to 80000 square feet is being considered for Jungle
restaurant. Internet connections would also be required for which
connections will be subscribed to and monthly charges would be paid. The
approximate details of quantities required have been specified in the
financials section.
Organization Structure
The business model is based on the idea of each of these two units would
acts as separate profit centers and manage their operations independently.
The menu would remain same but the item charges would differ for each
restaurant.
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Each unit shall have a Manager who will manage the day to day operations
of the units and would be reporting on thrice a week basis to us. The unit will
have
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The concept of “Oceania” originates from the fact that, in this age of
advanced technology and unorganized restaurants, a majority of our
younger’s and adults feels left behind and looking for something new
fascinating atmosphere restaurants. Also, people need something to make
them feel new every time to themselves with and at present there is no such
offering in the market. “Oceania” aims to become that the place for the
youngsters where they can enjoy their passion.
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Background of Entrepreneurs
Company Summary
“Oceania” creates and serves a wild atmosphere for dining and eloquent
Mediterranean feasts for people who love the restaurant and bar scene, as
well as a good time spent out on the town. Its customers are creative, fun-
seeking, and sophisticated diners who wish to be best served by the
restaurant they choose.
Company Ownership
Financial Plan
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The following topics and tables outline our financial plan. We plan to turn a
significant profit, but we will structure the business so as to maintain a
healthy cash flow.
Important Assumptions
The financial plan depends upon important assumptions, most of which are
shown in the following table. The key underlying assumptions are:
Start-up Summary
Start-up Expenses
Start-up Expenses
Legal 50,000.00
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Start-up Assets
Cash Required 5,000,000.00
Start-up Inventory 1,000,000.00
Total Assets 6,000,000.00
Total 39,780,000.0
Requirements 0
The following sections outline the strategy and implementation summary for
“Oceania”.
Sales Strategy
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The important elements of the sales forecast are shown in the following
table. The sales of food, drinks take a while to grow but will grow in
second year.
Sales Forecast
Unit Sales
Year 1 Year 2 Year 3
Meals 25,000 35,000 50,000
Drinks 20,000 25,000 40,000
Total Unit Sales 45,000 60,000 90,000
Unit Prices
Meals 400 400 430
Drinks 50 50 60
Sales
Meals 10000000 14000000 21500000
Drinks 1000000 1250000 2400000
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Management Summary
Personnel Plan
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Payroll Plan
Year 1 Year 2 Year 3
No
No No
of Salar Salar
PM PA of PM PA of PP PM PA
Sta y y
Staff Staff
ff
15,0 30,00 360,00 15,0 30,00 360,00 15,0 30,00 360,00
Manager 2 2 2
00 0 0 00 0 0 00 0 0
3,00 30,00 360,00 3,00 36,00 432,00 3,00 36,00 432,00
Hostess 10 12 12
0 0 0 0 0 0 0 0 0
Waiters/Waitre 5,00 70,00 840,00 5,00 80,00 960,00 5,00 90,00 1,080,0
14 16 18
sses 0 0 0 0 0 0 0 0 00
4,50 18,00 216,00 4,50 18,00 216,00 4,50 27,00 324,00
Bartenders 4 4 6
0 0 0 0 0 0 0 0 0
3,50 21,00 252,00 3,50 28,00 336,00 3,50 28,00 336,00
Support Staff 6 8 8
0 0 0 0 0 0 0 0 0
Cocktail 5,00 50,00 600,00 5,00 50,00 600,00 5,00 50,00 600,00
10 10 10
Waitresses 0 0 0 0 0 0 0 0 0
8,00 64,00 768,00 8,00 80,00 960,00 8,00 80,00 960,00
Chefs 8 10 10
0 0 0 0 0 0 0 0 0
Total People 54 62 66
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The figures relating to the associated costs are for 2 units and have been
estimated for 3 years. The investments (in Rs) on a yearly basis for one unit:
Expenses
Payroll 3,396,000 3,864,000 4,092,000
Sales and Marketing and
300,000 200,000 200,000
Other Expenses
Depreciation
Insurance
Rent 700,000 700,000 700,000
Utilities
Leased Equipment
Payroll Taxes 237,720 270,480 286,440
Other
Total Operating
4,633,720 5,034,480 5,278,440
Expenses
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Conclusion
We consider that the idea is different from the other offerings in the market
because no other restaurants of this kind exist in the market. So “Oceania”
will definitely enjoy the competitive advantage from the day one itself and
also can be excepted to perform competitively in future.
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Annexure
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