Entrepreneurial Action Coursework Example | Topics and Well Written Essays - 2750 words

Entrepreneurial Action - Coursework Example Future Plans 10 14. Funding request 10 15. Exit strategies 10 Executive Summary Solo Pasta Restaurant is a pasta restaurant located on Holloway Road 7N. The business is owned by four partners that contributed equally to fund the business. Our aim is to grow the business seeing profits in the first year and build recognition and awareness of the business. Ultimately we plan to expand into other markets. Competition is mainly from fast food eateries i.e. McDonalds and a new business that will compete directly with us. Business Idea Concept Solo Pasta Restaurant will serve a variety of pasta, sauces, vegetables and meat. Our service will be unique in that the customers can design his pasta bowl with whatever they want on the pasta. It will seat forty (40) patrons and employ four (4) employees. The planned target market would be first students, because of the location and working adults, as these are the two groups of people that eat out the most. Solo Pasta will offer a twenty percent ( 20%) discount to college students. Solo Pasta will employ skilled workers that can provide for fast friendly service and produce quality foods. In addition to the pasta dishes, Solo Pasta will offer hot drinks and breakfast baguettes. Mission Solo Pasta Restaurant’s mission is to provide quality products with fast friendly service. ... Objectives Solo Pastas objective is to breakeven or post a profit in the first year of operations. We also want to gain 30% of the targeted markets by the end of the first year of operations. SWOT Analysis Strengths Solo Pasta was first to open at its location and it has already began to develop a loyal clientele. Many of the same customers stop in for coffee or tea and breakfast baguettes day after day, and the same is true of our lunch and dinner clientele. Many of our customers have taken advantage of our promotions of free coffee and twenty percent (20%) student discounts. Financially Solo Pasta is exceeding the breakeven point on a daily basis as of the second month of operation. Furthermore we offer a unique product and service by allow customers to design the contents of their pasta bowls. Solo pasta has above average quality of product and excels in customer service. Additionally our location is a benefit as we are in the heart of north campus and close to the tube on Hollowa y Road. Weaknesses Solo Pasta utilizes no outside funding. This limits the amount that can be spent on advertising. Solo Pasta has a limited number of seating capacity. Presently, Solo Pasta does not offer a carry out service. Opportunities Solo Pasta could seek out investors to increase the amount of funds available for advertising. Solo Pasta could develop a carry out service to increase number of daily customers they could serve. Solo Pasta could run additional promotions to increase sales. Solo Pasta could advertise on local or collegiate television and radio stations. Threats Solo Pasta face a threat from the new restaurant that just opened. The threats posed by the new restaurant, unlike other eateries on Holloway, serve