fast food shop speedy bites entrepreneurship 202.pptx

Public research on opening a fast food shop

1. SPEEDY BITES/Fast food shop Ent 202, business idea presentation 24b Group 24

2. Group 24 members Aisha zakari saidu Alex Okey -Obasi Alkali baba imam Mustapha Ahmed Saleh Hanan Musa Kabir Martins Ekip Ebam Uganden Michael Grace ewhrudjakpo Rahila Dauda

3. contents Introduction Market research Business offerings Strategy and implementation Management and organization Financial planning Future plans Supplementary information

4. Introduction EXECUTIVE SUMMARY: An overview of market research for the launch of "fast food shop/speedy bites", aiming to offer convenient and delicious food. The research focused on customer preferences, ideal locations, and optimal pricing strategies.  RESEARCH OBJECTIVES AND METHODS: The primary goals were to understand customer preferences, evaluate potential locations, and determine pricing. Methods included expert interviews, online surveys with students and local workers, and industry report analysis. Fast food shop/speedy bites is a modern fast-food restaurant offering a variety of delectable and affordable meals. It aims to become the neighborhood's go-to spot for quick and filling meals by providing top-notch ingredients, excellent customer service, and a lively atmosphere. The restaurant combines taste and style, catering to diverse clientele's preferences and aiming to be a culinary hub.

5. Market research Market analysis The market for fast food chains is ₦10 million, with a 7% annual growth rate. Key segments include shawarma, pizza, sandwiches, salads, snacks, and burgers. Targeting the 15-45-year-old demographic, these chains cater to busy lifestyles with a busy lifestyle. Key trends include increasing demand for healthy and sustainable options, online ordering, and rising competition. Major players include Chicken Republic, Pizza Hut, and Maverick ice cream. Strengths include brand recognition, marketing muscle, and a well-established supply chain. However, weaknesses include perceived lack of healthiness, limited innovation, and high employee turnover.

6. Market research cont. Recommendations Develop a menu that balances taste, nutrition, and sustainability Invest in online ordering and delivery infrastructure Target marketing efforts towards the 18-35 age group Emphasize quality ingredients and unique menu items Consider partnerships with local suppliers and sustainability initiatives Monitor competitor activity and adjust strategy accordingly

7. Business offerings Value meals: offer combo meals that include a sandwich, fries, and a drink at a discounted price. Special deals : provide limited-time offers, such as “buy one get one free” or “discounts on bulk orders”. Delivery service : partner with food delivery apps or offer in-house delivery to cater to customers who prefer convenience. Catering services : offer customized catering options for events, parties, and corporate functions. Breakfast menu: introduce a breakfast menu to attract early risers and commuters.

8. Business offerings cont. Online ordering : integrate online ordering and payment systems to enhance customer convenience. Discounts and promotions : offer discounts for students, seniors, or military personnel, and run promotional campaigns during slow periods. Food truck or cart : consider operating a food truck or cart to expand your reach and cater to events or festivals. Party packages : offer party packages that include food, drinks, and decorations for kids’ birthday parties or other celebrations. Kids’ menu : offer a specialized menu for children, including smaller portions and fun meal options.

9. Strategy and implementation The comprehensive strategy and implementation section of this text outlines the marketing strategy for Speedy Bites, a fast food shop. The strategy includes brand positioning, a marketing mix (4Ps), location, promotion, and financial strategy. The marketing mix includes a diverse menu, competitive pricing, a high-traffic location, and a promotion campaign. The operations strategy includes leasing a modern storefront, managing supply chains, hiring experienced staff, and maintaining hygiene and safety..

10. Strategy and implementation cont. The financial strategy includes starting costs, revenue projections, cost management, profitability analysis, and funding requirements. The sales strategy focuses on customer experience enhancement, menu optimization, technology integration, promotions, and community engagement. The menu includes limited-time offers and combo meals, while the technology integration includes online ordering, loyalty programs, and promotions. The sales strategy also includes happy hours and referral programs. The company also plans to participate in or sponsor local events to increase brand visibility and attract new customers

11. Management & organization The fast food industry needs strategic management like all other businesses. Its business model also needs strategic planning to succeed. Management has a crucial role in the success of a business. The management role focuses on the direct daily operations and strategic business decisions. This part is crucial for understanding who is responsible for making key decisions and driving the fast food shop towards its financial and operational goals.

12. Management & organization cont. Owner/CEO : sets business goals, makes financial decisions, and oversees overall operations . General Manager : responsible for financial management, marketing, recruitment, food quality, staff training, and communication between teams. Kitchen Manager : oversees kitchen operations, food preparation, inventory, and kitchen hygiene. Finance/Account manager. Team Members : Chefs : create menus, manage kitchen operations, and ensure food quality . Cooks : prepare ingredients, cook dishes, and follow recipes and standards. Customer Service Staff : serve customers, take orders, and provide information on menus Cleaners/Janitor : perform daily sanitation, deep cleaning, and maintenance tasks.

13. Organizational chart

14. Financial Planning Space rent and Design – N2,000,000 Food supplies– N2,000,000 Utilities– N5,000,000 delivery bike purchase and maintenance – N1,000,000 Marketing (advertising agency) – N500,000 Personnel cost- N320,000 Website setup – N250,000 Business registration - N170,000 TOTAL = N10,570,000

15. Financial planning cont. Projection for daily sales @ 20 customers per day Sales from shawarma @ N2500 x 20 = N50,000 Sales generated for 1 year = N18,250,000 After 3 years = N54,000,000 Profit after year = approximately = N 11,000,000

16. Future plans The fast food shop plans to cater to food vendors, local workers, and students in Nigeria, specifically in FTC, Abuja. The primary focus is on building a brand for the age group from 15 to 57, as well as other food distribution and production companies. The main competitors in this segment are food outlets within the 300 meter radius along Jabi Airport Road Bypass. The brand will be built through selling merchandise, promotional items, and other marketing gimmicks similar to other fast food franchises.

17. Future plans cont. The marketing plan includes social media, local media, and store marketing programs at each location. The sales strategy is to build and open new locations to increase revenue. The first location will feature an original merchandise display and brand building attributes, and the location will be equipped with modern furniture and an open feeling. The space selection will be based on community size, tourist destination, easy access, and a large percentage of civil workers, offices, and educational institutions in the area.

18. Supplementary information Appendix The fast food shop business plan focuses on targeting middle to low-income individuals in the FTC area of Abuja, Nigeria, aged 15-57. The target market includes workers, students, and food vendors within an 8-kilometer radius of Jabi Airport Road Bypass, The operations include a 50-70 square meter location, modern furniture, and branded merchandise displays. The business also manages water and utilities, with a focus on ensuring consistent water flow and adequate pressure for kitchen operations. The business also adheres to legal and regulatory requirements, including food business licenses, health and safety compliance certificates, and labor laws. The long-term goals include establishing a chain of fast food shops in Abuja and building a strong brand presence.