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Business report
1. 1
LECTURER
MR. CHANG JAU HO
GROUP MEMBER
1. YAP ZHI JUN ( 0310738 )
2. TOH CHEE CHENG ( 0311122)
3. YAP ZHONG LIN ( 0310557 )
4. KRISTINE YONG ( 0311297 )
SCHOOL OF ARCHITECTURE, BUILDING & DESIGN
FOUNDATION IN NATURAL AND BUILT ENVIRONMENT (FNBE)
INTRODUCTION TO BUSINESS (BUSF 0103)
JANUARY 2013
ASSIGNMENT 1- BUSINESS PLAN (20%)
3. 3
Excecutive summary
Oceana Adventure is an underwater restaurant established Kristine Yong,
Yap Zhi Jun and Yap Zhong Lin and TohChee Cheng. This business plan mainly
cover 5 areas which included business background, market analysis, marketing
strategies, management strategies and financial plan.
The purpose of establishing Oceana Adventure will be introduce in Business
Background by covering the services provided, reasons of establishing a partnership
business and the location of the business.
Market Analysis will show the competitor’s strengths and weaknesses. The
customers’ backgrounds such as, income, education, geographic location,
preferences and so on.
Marketing Strategies will briefly explain the marketing strategies like benefits
of the services provided in the restaurant, the arrangement of marketing strategies,
pricing, advertising and promotional activities.
Management Strategies describe the reasons for adapting a partnership
business and how the partners divided job equally in carry out an excellent
management system and also the role of each mid – level employees and low – level
employees.
Last but not least, the financial plan covered the budgets needed to establish
the business, loans, expenses and the estimate profit and losses gain for the next 3
years.
As a conclusion, we hope that Oceana Adventure can be an international
restaurant in the future and become well known.
4. 4
Business background
Our business is anunderwater restaurant with the name “Oceana
Adventure”.Our restaurant is located nearby the sea to attract tourists and we want
to get away from the busy city. Our restaurant is a place for customers to relax, enjoy
and have fun.
Our restaurant mainly sell seafood and the speciality of our restaurant is
customers can enjoy the marine life environment while having their meal. It is a great
experience.
We want to start this kind of business because firstly this kind of restaurant is
less in the whole world and we wish to take the challenge and we hope everyone
can have the opportunity to experience eating underwater. Besides, we think that our
restaurant is a great place for tourist, family, couples and etc to have their dinner
because it is a good place for gathering, to relax yourself and of course a good place
to taste the fresh seafood.
Logo of our restaurant
5. 5
Market Analysis
Introduction:
We are focus on higher level income people and tourists. People that have the
desire for good food, natural environment and fascinating atmosphere.The Oceana
Adventure located nearby a beach. Which can attract a lot of tourists, foreigners, and
high level income people.The purpose to be built at the seashore is because we are
doing an underwater restaurant which Malaysia still have not been developed yet. So
we would like to take this opportunity to challenge.
The competitors:
There is not many underwater restaurant in the world. There are the 7 most
incredible underwater restaurants which are,
1. Poseidon Undersea Resort, Fiji
2. Al Mahara, Dubai, UAE
3. Jules’ Underwater Lodge, Key Largo, Florida
4. Utter Inn, in Lake Mälaren, Sweden
5. Guinness Deep Sea Bar, Baltic Sea, Stockholm Archipelago
6. Red Sea Star, Eilat, Israel
7. Ithaa, RangaliFinolhu, The Maldives
There are the strengths and weaknesses about competitors:
S- Strengths
1. Cheap.
2. Good services.
3. Polite waiter and waitress.
W- Weaknesses
1. They don’t have a special environment.
2. They don’t give any space for marriage dinner or annual dinner.
Market segmentation:
Tourists: The place where Oceana Adventure located is nearby the beach. So there
must be attract by a lot of tourists. So, mainly they would like to have a try since they
have been here already. The Oceana Adventure will be a destination with the special
underwater sea and western food.
Family: It is a great choice to bring along your children. It can develop the nature
atmosphere to the children to have a good impressive to love the nature. Besides, I
can ensure that the atmosphere here can improve the relationship between relatives,
parents among children and siblings.
6. 6
Couples: there is also a special space for couple to have their own privacy. The
environment here is romantic and sophisticated.
Marriage dinner or annual dinner: It is open for those who plan to hold on a dinner at
here. It is good to discuss about it. We will arrange the menu, decoration, function,
and others as what you want if it is considerable.
Growth Year 1 Year 2 Year 3 Year 4 CAGR
Targeted customers
Tourists 20% 15 000 18 000 21 600 25 920 20.00%
Family 15% 8 340 9 591 11 029 12 684 15.00%
Couples 18% 8 750 10 325 12 184 14 377 18.00%
Marriage/Annual dinners 10% 6 770 7 440 8 184 9 002 10.00%
Total 60% 38 860 45 356 52 997 61 983 60.00%
Target Market Segment Strategy
The Oceana Adventure will focus on attracting tourists diverse clientele ages 20-55
with an annual income of at least $ 35, 000.
We want the tourists, family, couples and those who wants to hold on an annual
dinner with wealth image and compulsive spenders. The purpose to focus on this
group of people because they are those who frequently go to high level restaurant or
cafeteria. They are willing to spend money with good food and the
relaxedatmosphere, also, they spend for the service at a value price. The available
demographics make us to know more about the characteristics of our clientele.
Those wo willing to spend at The Oceana Adventure is mostly people with high level
income and those who willing to spend to enjoy and relax.
Our geographical include those who from the beach, people who live nearby, passer
by and also tourists. The characteristics of our clientele will be those who know to
enjoy life, entertaining and sophisticated diners.
Tourists
Family
Couples
Marriage/Annual
dinner
7. 7
Marketing Strategies
Service’s Benefits
First of all, our restaurant is not same like other normal restaurants. Our restaurant is
underwater restaurant. These are the service’s benefits: -
1. You can enjoy your food surrounded by marine life.
2. You can have the chance to take picture with the marine.
Sales Strategy
Our restaurant mainly aimed for the tourists because the location is nearby the
beach. Other customers will be family, couples, marriage and etc.
How we sell our product?
1. Cooperate with certain hotels
- If you are the customers of the certain hotel that we cooperate with, you
can have your meal in our restaurant for 10% discount.
2. Packages
- Addition of RM10 to get a free photo of you with the marine.
- Kids with the height below 100cm can have half price for the set of the
meal.
3. Vouchers
- Free RM50 voucher with purchase of RM150 and above.
How the customers obtain product from us?
1. Dine in
- Customers can straight away come to our restaurant and have their meal.
2. Internet
- Customers can visit our website and have online booking.
3. Phone reserved service
- Customers are welcome to call for reserving.
Pricing
The price in our restaurant is much higher than other normal restaurant because we
have better and special environment. However, the price is totally worth for it.
1. Steaks RM 40 – RM 70
2. Seafoods RM 20 – RM 70
3. Desserts RM 10 – RM 20
4. Drinks RM 5 – RM 30
8. 8
Advertising and Promotional Activities
Throughout the whole year we plan to have different kind of activities and promotions
to promote our restaurant so that we can achieve our goal.
Advertising:-
1. Poster
2. Television
3. Internet
4. Radio
Promotional activities:-
1. Valentine day
- Free a bouquet of flower with purchase of RM100 and above
2. Christmas day
- Free family photo with marine life and Christmas tree
3. Chinese New Year
- Lucky draw for the customers
4. Marriage ceremony
- Free one room of hotel for one night for the customers
5. Monday blue
- Blue indicate the ocean, so every Monday with wearing blue shirt can have
5% discount for every meal
9. 9
Management Strategies
Management is very important in a business. Without a well management
system, a business would not last long. Thus, management process also helps to
improve business success rate. Management process include planning, organizing,
leading and controlling. Hence, we set up our goal, strategies and tactics before
establishing the business.
Partnership Legal Structure
Oceana Adventure is a partnership business which founded by 4 partners.
They are TohChee Cheng, Kristine Yong, YapZhi Jun and Yap Zhong Lin. After an
exhaustive discussion, 4 partners of Oceana Adventure had agreed to adopt the
partnership business legal structure. We had considered about all the aspects with
the help of a lawyer in providing his professional opinion before making decision.
There are few reasons come to our partnership business. First of all, there are 4 of
us, which we already fulfilled the basic requirement of at least 2 persons to establish
a partnership business. Furthermore, partnership business is small and easier to be
managed unlike the corporation business. It is also easier to get capital as our
business has 4 partners, banks are more willing to lend money as 4 partners will be
sharing the profits and losses. In addition, we understood that honesty is important in
partnership business, we will try our best, coordinate with one another and manage
the problem together to ensure the business runs smoothly.
•To be an
international
restaurant.
Goal
•To be a well
known
restaurant.
Strategies
• Come out with
powerful
advertisement
• Promote
restaurant by
popular artist.
Tactics
10. 10
Oceana Adventure
Restaurant Manager Human Resource
Manager
Marketing Manager Financial Manager
Management system of Oceana Adventure.
Role of Each of The Members in Oceana Adventure
We had equally divided the role play of each of the partners in our business.
Such as, TohChee Cheng as Restaurant Manager, Kristine Yong as Human
Resource Manager, Yap Zhi Jun as Marketing Manager and Yap Zhong Lin as
Financial Manager. Following is the table of summarize job scope for each of the
position handled by 4 of us.
Titles Job scopes
Restaurant
Manager
Ensure high quality services by performing frequent
checks.
Supervise the operation of restaurant to maximize
profit.
Motivate the employees.
Solving problems such as, services and food quality
complaints.
Ensure the restaurant follow all the health and safety
regulations.
Review and monitor make sure the expenses did not
over budget.
Human Resource
Manager
Conduct training program.
Team leader in handling employee issues.
Resolve conflicts between workers.
Assist in hiring workers.
Marketing Manager Conducting market research.
Analyzing customer research.
Develop marketing plan to promote the restaurant.
Report the marketing activity and results base on
research conducted.
Financial Manager In charge of financial planning, such as flow of cash.
Prepare budgets.
Take part in making decision regarding financial.
Control the risk in financial.
11. 11
Role of The Mid-level Employees
Following is the table of mid – level employees in our restaurant.
Positions Job scopes
Chefs ( 10 people ) Cook delicious food for customers.
Cashiers ( 3 people ) Calculate total payment and answer
customer’s question.
Stuff Manager ( 2 people ) Assist restaurant manager in managing
the restaurant.
Role of The Low-level Employees
Folllowing is the table of low – level employees in our restaurant.
Positions Job scopes
Busboys (6 people) Clean up the restaurant.
Dishwashers ( 8 people ) Wash the dishes.
Waiters/ Waitreses ( 15 people ) Serve the customers.
12. 12
Financial Plan
Budgets:
Costs
Installation RM 3,000,000
Professional Chef RM 35,000
Kitchen Tools RM 15,000
Dining Tables & Chairs RM 23,000
Seafood RM 22,500
Safety RM 26,000
Decorations RM 25,000
Insurance RM 30,000
Total RM 3,176,500
*Individual Budget: RM 3,176,500 / 4 = RM 794,125
Loans:
We will be borrowing RM 900,000 in total and to be estimated return it in 2 years
time.
1. Cost of Goods Sold : The cost of goods sold was determined by taking actual
Profit and Loss statements from various restaurant concepts and then using
our pricing structure and guest counts to arrive at costs.
2. Marketing Fees: These funds will be used for the production of various
marketing materials.
3. Advertising: These funds will be used, if necessary, to maintain our sales at
projected levels. Just to make sure that our restaurants make enough notice
on the public.
4. Management Fees: As we grow in size, this cost burden will increase per
store.
Important Assumptions:
The financial plan depends on important assumptions, most of which are shown in
the following table as annual assumptions. Interest rates, tax rates, and personnel
burden are based on conservative assumptions. Some of the more important
underlying assumptions are:
1. We assume there are no unforeseen changes in consumers' tastes or
interests to make our concept less competitive.
2. We assume the equipment is in good working order.
3. We assume there are enough loans and financing are sufficient to maintain
and fulfill our financial plan as shown in the tables.
13. 13
0
1
2
3
4
5
6
Year 1 Year 2 Year 3 Year 4
Loss
Profits
Estimated Annual Profit:
Sales
Tax received RM 2,500
Cost of goods sold RM 8,000,000
Total RM 8,002,500
*Estimated Profits: RM 8,002,500 – RM 797,500 = RM 7,205,000
*Individual Profits: RM 7,205,000 / 4 = RM 1,802,150
Expenses
Employee salaries RM 116,000
Credit card charges RM 6,000
Marketing fees RM 600,000
Management fees RM 590,000
Advertising RM 70,000
Taxes RM 10,000
Paper and Cleaning RM 3,000
Bill payments RM 2,500
Total RM 797,500
14. 14
References
1. Ravi Assar, Business Studies, What are the Characteristics of
Partnership?Retrieved 1March 2013, from
http://www.publishyourarticles.net/knowledge-hub/business-studies/what-are-
the-characteristics-of-partnership.html
2. Jobwings, retrieved 2 March 2013, from http://www.jobwings.com/en/job-
advice/accounting-jobs/job-tickets/accounting-and-financial-management
3. Information Nigeria, Dining Just Got Amazing: World’s First Underwater
Restaurant, retrieved 1 March 2013, from
http://www.informationng.com/2012/10/dinning-just-got-amazing-worlds-first-
underwater-restaurant.html
4. Los Angeles Times, Offbeat Traveler: Ithaa Undersea restaurant at Conrad
Maldives Rangali Island, retrieved 3 March 2013, from
http://www.latimes.com/travel/la-trw-offbeattraveler7-
pg,0,6549249.photogallery
5. Mr, Chang Jau Ho,2013 Introduction of business note, chapter 4 the
management process.
6. Wanken blog,ITHAA UNDERWATER RESTAURANT, retrieved 3 March 2013,
from http://blog.wanken.com/11814/ithaa-underwater-restaurant/
