Executive summary
Our catering service business
shall be a full time eat-in and take-away restaurant specializing in serving jollof
rice and soft drinks which shall be focused mainly on the provision on making
available a tasty jolloff rice and soft drink for the teeming population and
traders of travelers at Otowovdo Motor Park in Ughellli. The traders in the location may prefer to
eat-in while some of the travelers may prefer to buy take-away packs. The
business will be owned, managed and operated by eight partners namely; Esiesie Grace, Aboh
Tamaradoubra, Achioja Lydia, Adams Betty, Oyiborhovo Rebecca, Irikefe Patricia, Emmanuel Jennifer and Samuel Oghenemaro.
shall be a full time eat-in and take-away restaurant specializing in serving jollof
rice and soft drinks which shall be focused mainly on the provision on making
available a tasty jolloff rice and soft drink for the teeming population and
traders of travelers at Otowovdo Motor Park in Ughellli. The traders in the location may prefer to
eat-in while some of the travelers may prefer to buy take-away packs. The
business will be owned, managed and operated by eight partners namely; Esiesie Grace, Aboh
Tamaradoubra, Achioja Lydia, Adams Betty, Oyiborhovo Rebecca, Irikefe Patricia, Emmanuel Jennifer and Samuel Oghenemaro.
Registration of the business
The name of eat-in and take away restaurant shall
be Tales and Tickles and before we shall
begin operation, we shall ensure it is duly registered with the Corporate
Affairs Commission (CAC) with the name afore-mentioned.
be Tales and Tickles and before we shall
begin operation, we shall ensure it is duly registered with the Corporate
Affairs Commission (CAC) with the name afore-mentioned.
Business description
Tales and Tickles shall specialize in hygienically prepared jollof
rice and soft drinks which shall be in eat-in and take-away packs. The target
market shall be travellers and traders at the Otowodo Motor Park in Ughelli.
This business will be very helpful to travellers and traders in the area, since
this will provide the ever desired tasty jollof rice to the travellers and
traders in the area. This business will be owned and operated by eight partners
which are Esiesie
Grace, Aboh Tamaradoubra, Achioja Lydia, Adams
Betty, Oyiborhovo Rebecca, Irikefe Patricia, Emmanuel Jennifer and Samuel Oghenemaro. We shall focus only on jollof
rice and soft drink to based on the fact that from our research, traveller
prefer and traders in the area prepare jollof rice as it can be eat as a fast
food or easily taken way to be eaten in their vehicles or shops.
rice and soft drinks which shall be in eat-in and take-away packs. The target
market shall be travellers and traders at the Otowodo Motor Park in Ughelli.
This business will be very helpful to travellers and traders in the area, since
this will provide the ever desired tasty jollof rice to the travellers and
traders in the area. This business will be owned and operated by eight partners
which are Esiesie
Grace, Aboh Tamaradoubra, Achioja Lydia, Adams
Betty, Oyiborhovo Rebecca, Irikefe Patricia, Emmanuel Jennifer and Samuel Oghenemaro. We shall focus only on jollof
rice and soft drink to based on the fact that from our research, traveller
prefer and traders in the area prepare jollof rice as it can be eat as a fast
food or easily taken way to be eaten in their vehicles or shops.
Required funds
The business shall require
the sum of 2,000,000 as startup capital which shall be funded equity
contribution by the partners of the business.
the sum of 2,000,000 as startup capital which shall be funded equity
contribution by the partners of the business.
Objectives
Tales and Tickles shall provide tasty jollof rice to the travellers and traders at
Otovwodo Motor Park at an affordable price in a hygienic environment.
Otovwodo Motor Park at an affordable price in a hygienic environment.
Location
Tales and Tickles shall be located just opposite Otovwodo Motor Park which is a very
strategic location to get the attention of travellers and traders in the area.
The area is in need of this kind of service since the catering services in the
area are done by local caterers popularly referred to as “mama put” which do
not appeal to many people because of their poor hygiene practice and the well
organised fast foods such as Mr. Biggs, Walkys, EJ Eatery, etc are located far
away from the Motor Park.
strategic location to get the attention of travellers and traders in the area.
The area is in need of this kind of service since the catering services in the
area are done by local caterers popularly referred to as “mama put” which do
not appeal to many people because of their poor hygiene practice and the well
organised fast foods such as Mr. Biggs, Walkys, EJ Eatery, etc are located far
away from the Motor Park.
Mission/vision statement
Tales and Tickles Mission Statement: Tales and Tickles mission is provision jollof rice
and soft drink at an affordable price.
and soft drink at an affordable price.
Vision Statement: Tales and Tickles hopes to
expand its target area to all the Motor Parks in Delta State in the near future
expand its target area to all the Motor Parks in Delta State in the near future
Core values
Our core values are quality food and high standard
hygiene
hygiene
Competitive analysis
The major competitors to Tales and Tickles are the local restaurants popularly referred to as “mama put” and other
well organised eateries like Walkys, Mr. Biggs, Grubs, etc. but Tales and Tickles will not be greatly
disturbed by their competition. The mama put will not pose a very big threat
since people are not usually pleased with their hygiene quality while the other
organised eateries are located far away from our targeted population.
well organised eateries like Walkys, Mr. Biggs, Grubs, etc. but Tales and Tickles will not be greatly
disturbed by their competition. The mama put will not pose a very big threat
since people are not usually pleased with their hygiene quality while the other
organised eateries are located far away from our targeted population.
Management team plan
The
day to day operation of Tales and
Tickles shall be carried out by the eight partners of the business which
shall be headed by Esiesie Grace, who is a very experienced in catering
services. The other seven partners shall take over other different roles in the
business based on their interest an expertise.
day to day operation of Tales and
Tickles shall be carried out by the eight partners of the business which
shall be headed by Esiesie Grace, who is a very experienced in catering
services. The other seven partners shall take over other different roles in the
business based on their interest an expertise.
Tales and Tickles shall be opened to customers between the hours of 8
a.m to 8 p.m. daily and we shall be open for all the seven days in the week.
a.m to 8 p.m. daily and we shall be open for all the seven days in the week.
Marketing plan
The marketing plan for Tales and Tickles shall be through the use of hand bills which shall be distributed at the
motor park and all the shops in the area. We shall also use a very attractive
billboard which shall be located inside the motor park and another in front of
our restaurant. We shall also place our advert on Radio Delta
and J. FM.
motor park and all the shops in the area. We shall also use a very attractive
billboard which shall be located inside the motor park and another in front of
our restaurant. We shall also place our advert on Radio Delta
and J. FM.
Target Market: Travellers and traders at the Otovwodo Motor Park and it environs.
Pricing: We shall ensure that are pricing are competitive
with that of our competitors. We may not sell at a lower price but we shall
ensure that the taste of our food, quality of service and hygiene shall be
preferable to that of our competitor
with that of our competitors. We may not sell at a lower price but we shall
ensure that the taste of our food, quality of service and hygiene shall be
preferable to that of our competitor
Financial plan
Capital requirement and equipment
Required capital investment
|
Capital Investment Item
|
Qty
|
Unit price (
|
Total (
|
|
Rent
|
1
|
120,000
|
120,000
|
|
Furniture and fittings
|
–
|
150,000
|
150,000
|
|
Refrigerators
|
2
|
60,000
|
120,000
|
|
Power system
|
1
|
200,000
|
200,000
|
|
Decorations
|
–
|
50,000
|
50,000
|
|
Deep freezers
|
2
|
70,000
|
140,000
|
|
Kitchen utensils
|
–
|
200,000
|
200,000
|
|
Gas cookers
|
2
|
25,000
|
50,000
|
|
Air conditioners
|
2
|
35,000
|
70,000
|
|
Others
|
|
100,000
|
100,000
|
|
Total
|
|
|
1,200,000
|
Operation costs
|
S/N
|
MATERIALS
|
Qty
|
Cost (
|
Daily expenses
|
Monthly expenses
|
Yearly expenses
|
|
1
|
Rice
|
1 bag
|
12,000
|
12,000
|
144,000
|
1,728,000
|
|
2
|
Cooking ingredients
|
–
|
40,000
|
40,000
|
480,000
|
5,760,000
|
|
3
|
Frozen Chicken
|
5 cartons
|
6,000
|
30,000
|
360,000
|
4,320,000
|
|
4
|
Cow Meat
|
–
|
30,000
|
30,000
|
360,000
|
4,320,000
|
|
5
|
Cooking gas
|
–
|
2,000
|
2,000
|
24,000
|
288,000
|
|
6
|
Firewood
|
–
|
500
|
5000
|
60,000
|
720,000
|
|
7
|
Soft drinks
|
10 creates
|
1,200
|
12,000
|
144,000.00
|
1,728,000.00
|
|
8
|
Others
|
–
|
10,000
|
10,000
|
120,000
|
1,440,000
|
|
Subtotals
|
141,000
|
1,692,000
|
20,304,000
|
|||
General cost (Overheads)
|
Cost items
|
Expenses
|
|
|
Monthly
|
Yearly
|
|
|
Salaries
|
240,000
|
2,880,000
|
|
Utilities
|
15,000
|
180,000
|
|
Marketing
|
12,000
|
144,000
|
|
Administrative
Expenses |
18,000
|
216,000
|
|
Cleaning and
toiletries |
5000
|
60,000
|
|
Miscellaneous
|
20,000
|
240,000
|
|
Depreciation
|
5,000
|
60,000
|
|
Sub-total
|
315,000
|
3,780,000
|
Total Operating Cost for a year = Operation Cost
+ General Overhead
+ General Overhead
=
N 18,576,000 + N 3,780,000
=
N 22,356,000
Ø Depreciation on fixed assets assumes 4-years life
of assets written off at 25% year for all assets.
of assets written off at 25% year for all assets.
Ø Direct costs include materials includes every
material used in the course of carrying out the operations
material used in the course of carrying out the operations
Revenue
|
S/N
|
ITEM
|
Qty
|
Unit selling price
|
Daily income
|
Monthly income
|
Yearly income
|
|
1
|
Plates of rice
|
1,500
|
300
|
450,000
|
13,500,000
|
162,000,000
|
|
2
|
Soft drinks
|
10 creates
|
2,400
|
24,000
|
720,000
|
8,640,000
|
|
Subtotals
|
474,000
|
14,220,000
|
170,640,000
|
|||
Profitability Analysis Table
|
Profitability item
|
Per month
|
Per year
|
|
Revenue
|
14,220,000
|
170,640,000
|
|
Less: General Cost
|
315,000
|
3,780,000
|
|
Less: Operating Cost
|
1,692,000
|
20,304,000
|
|
Profit
|
12,213,000
|
146,556,000
|
Conclusion
Jollof
rice and soft drink catering services is a very lucrative business for any
entrepreneur in Nigeria. It is very easy to run and require very little
expertise. It is a business that has a lot of customers since everyone in the
locality eats jollof rice and soft drinks.
rice and soft drink catering services is a very lucrative business for any
entrepreneur in Nigeria. It is very easy to run and require very little
expertise. It is a business that has a lot of customers since everyone in the
locality eats jollof rice and soft drinks.
References
Adams, B. (2008). The
complete business plan. London: Adams Media
complete business plan. London: Adams Media
Bygrave, D. (2004). The
Portable MBA in Entrepreneurship. London: John Wiley and Sons.
Portable MBA in Entrepreneurship. London: John Wiley and Sons.
Jacksack, S. (2010).
Business plans that work: for your small business. Illinois: CCH Incorporated.
Business plans that work: for your small business. Illinois: CCH Incorporated.
Miller, M. ( 2010). Business
plans in 24 hours. Indianapolis (IN): Alpha Press
plans in 24 hours. Indianapolis (IN): Alpha Press
Peterson, S., & Jaret,
P. (2011). The business plan kit for
dummies. New York: John Wiley.
P. (2011). The business plan kit for
dummies. New York: John Wiley.
