Business Plan - Free Sample

Introduction

This business plan is to open an Internal Finance Company that will finance the operations of the Big Bad Breakfast Restaurant enterprise in Mississippi State. The products that will be sold in this restaurant include hamburgers, sandwiches, pizza, chicken, french fries, and soft drinks. The target customers are majorly busy travelers, commuters, and employees who do not have time to prepare meals in their houses. The internal finance company will play a major role in financing the Big Bad Breakfast Restaurant.

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Operational Details

The internal finance company business plan is geared towards providing the financial support to the Big Bad Breakfast Restaurant and the consumers themselves, reloading dishes as they reduce, offering minimum service to improve the experience, and making the process of payment faster and comfortable. According to Filimonau and Krivcova (2017), customer service is made easy if there is an internal financial company within the restaurant since the service operations are conducted speedily. Therefore, the operational details for this internal finance company will substantially improve the quality of service at Big Bad Breakfast Restaurant.

The finance company will also aid the Big Bad Breakfast restaurant in its procurement processes and since there will be bulk buying of ingredients by the company during the low prices period to reduce the input costs. The restaurant will also have a smaller number of suppliers to reduce the cost and be reduce the risk of discontinuing the operations if one supplier fails to supply the inputs. Additionally, the restaurant will balance the shelf-stable and fresh ingredients to maintain the right inventory levels.

The internal finance company will ensure that there is enough equipment in the restaurant for the continuity of daily operations without fail. There will be adequate finance to ensure that food is well stocked, and customers are served fast, without unnecessary delay. This is because speed is a crucial consideration in the fast-food industry. The internal finance company will identify busy times, where customers are many, to develop the right time for the financial aid to the restaurant for its efficient operations.

Systems that are efficiently operating will be directed towards the customers. The internal finance company will ensure that these systems aim at serving clients very quickly without making them feel that they are rushed or the quality is compromised. For example, maintaining a continuous supply of food and serving fast ensures that there is no queue by providing financial aid in recruiting more staff during high seasons.

Competitive Factors Analysis

In the fast-food industry, there is stiff competition, where companies resort to low food prices in order to attract customers. The industry is growing very fast; therefore, the internal finance company must stay ahead of its rivals since it will face stiff competition from other restaurants in Mississippi State. The internal finance company will employ different financial strategies to ensure that the Big Bad Breakfast restaurant outshines its rivals in the industry. These financial strategies will ensure that the restaurant offers high-quality meals and food that can satisfy the various needs of the customers. The quality of products enhances the restaurant’s ability to attract and retain customers (Phadermrod et al., 2019). Secondly, the enterprise will employ the pricing strategy. Big Bad Breakfast restaurant will offer its products at a relatively lower price compared to those charged by rival restaurants due to the financial support offered by the internal finance company. This will aid in attracting and retaining customers who are price sensitive. Finally, proper customer care services will be offered; this is aimed at increasing the level of customer satisfaction, which enhances loyalty.

Political Factors Analysis

Mississippi is one of the federal states in the United States of America. The US is a member of the commonwealth and the UN. The nation has political stability. It focuses on peace and neutrality in the development and implementation of policies. Political stability creates a conducive environment for business operations in the country; this will play a critical role in supporting the finance company’s operations. However, corruption could be a significant issue in the country. This may likely affect the success of a business. Therefore, the establishment of this company may be impacted by the existing political factors around Mississippi State.

Social Factors Analysis

The Mississippi is a multi-religious and multi-cultural state, just like other states in the US. There are various religions in the state, including Islam, Christianity, Buddhism, Hinduism, Sikhism, and Taoism. The main language in this state is English, though there are also many other languages spoken by individuals from other cultures. However, the country has communal harmony despite the diversity of people. Due to low tax rates, affordable healthcare, low Global Business, cost of fuel, and local food in Mississippi, the people with diverse cultures are likely to offer a good market for the meals offered by Big Bad Breakfast Restaurant financed by the internal finance company.

Technological Factors Analysis

The US is among the best technologically improved nations in the universe. A majority of its citizens have access to the internet through their mobile networks. Mississippi State is a conducive place for global technology firms because of its IT infrastructure, tech-savvy workforce, and strategic location. Technology will be crucial for the internal finance company being established to support the Big Bad Breakfast Restaurant’s business operations, such as marketing and chain of distribution.

Environmental Factors Analysis

The Mississippi State is an attractive location receiving millions of tourists every year. Its delicious foods, dynamic cities, good weather, friendly people, and stunning beaches attract tourists. However, the state faces various environmental challenges, such as air pollution, deforestation, river pollution, and excessive waste. Many tourists in the country are likely to offer a market for the Big Bad Breakfast Restaurant being financed by the internal finance company.

Legal Factors Analysis

The United States uses a legal framework that is conducive to business development. This explains its greater heights in development. The legislation of labor issues in the Mississippi State has aided in the economic growth of the state. The internal finance company to be established will be required to comply with the legal framework of the state; therefore, legal factors will have a significant impact on the finance company. The Mississippi federal government taxes levied, among other regulatory measures, aid to support economic progression and to protect the customers' interests.

Critical Risk Factors

Like any other restaurant, Big Bad Breakfast Restaurant is likely to face some critical risks that are likely to affect its operations. The risks include first, spoilage or contamination of food. Food safety is a significant concern for the Big Bad Breakfast Restaurant. Therefore, the internal finance company will provide the financial support necessary to remedy this concern. Food contamination can be caused by mechanical failure or any other event. If this happens, the food should immediately be discarded to avoid possible food poisoning to the customers.

Secondly, injuries like burns and cuts, slips, and falls amongst the employees are common in most restaurants. The internal finance company will support the safety program organized by the Big Bad Breakfast Restaurant to train its employees about safety at the workplace. After the company's full establishment, the internal finance company will take workers' compensation insurance policy to protect its employees against work injuries.

Thirdly, the internal finance company will aid in the repair and replacement of the broken-down equipment used to run restaurants, including stoves, computers, air conditioners, freezers, and dishwashers. When a power failure or mechanical problem causes the breakdown of equipment, the Big Bad Breakfast Restaurant will experience huge losses and spend a lot of money on repairs. The internal finance company prepares for this risk by ensuring that a plan for servicing and maintaining equipment used during the restaurant's operations is in place and done at regular intervals.

Fourth, interruption of the business, unexpected events such as fire, gas explosion, and flooding can happen during the operations of the business. This can cause termination of the operations, which consequently results in the loss of a lot of money due to the damages caused or business being at a halt. Therefore, the internal finance company lends financial aid in such cases to help the company in its daily operations. Business hitches can also happen to the critical suppliers, which may consequently affect the supply; in this case, the restaurant's operation will be affected. With all these, the internal finance company will develop a contingency plan to ensure that the restaurant's operations are not affected for an extended period of time in case of such occurrences.

Conclusion

The internal finance company will be located in Mississippi State in the United States of America. This company is expected to be a medium-sized finance enterprise that will serve both the middle class and upper-class individuals within the Big Bad Breakfast Restaurant, especially in the State of Mississippi.