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Describe the Planning and Designing Hospitality Venues.

Discussion

“The Treehouse” a unique plan for where the ground level will be a restaurant and the upper level will be a bar. The venue will be serving food, alcohol, and certain other alcoholic and nonalcoholic drinks according to the taste and preference of the customers. The hospitality venue selected for the business will be serving various kinds of customers and good base of customers range. The business will be having a good range of customer base in order to serves various kind of customers and hence provide services accordingly. The particular business model was selected depending on the demand for such services and the growth for this particulars business. The business venture developed will be providing various kinds of services and products according to the taste and preference of the consumers.

Venue Name

The Treehouse

Venue Type

Café cum Bar

Location

Stargazer Lawn (Barangaroo)

Services & Products 

  1. Contemporary Food along with various kinds of cocktails and mock tails will be the primary services the café cum business venue will be providing.
  2. Picnic Baskets or the Customized Venue will be the differentiated service which our cafes will be providing depending on the type of experience the customers want. 

 “How to make a perfect picnic basket” Class

Duration – 1 hours

Price - $40 per Person including a glass of champagne and canapes’.

The service provided by the café will include various kinds of alcoholic and nonalcoholic drinks and can be customized according to the taste and preference of the consumers.

Restaurant Menu

FOOD ON THE ROCKS’

(Tea Leave Salad)

(Liquid Tofu & Noodle)

(Pork Stick Pot 1.)

(Quail in the Woods)

(Roast Chicken w/ Sweet Corn)

(Fried Quail Eggs)

(Cornish Mackeral, Oysters & Samphire)

(Duck Terrine & Pineapple)

(Grilled Mackerel & Beetroot)

(Herb Crusted Lamb, Lentil, Potato, Rice& Pea)

(Poached Pears & Snow)

 The primary target area where the café will be focusing is the people aged with 25-50 years and one who have been a food lover. The café will be providing a unique experience in the field of hospitality services and the type of venue where the café will be operating its business.

Trading Time of Restaurants & Bar
– Monday to Thursday: 8am to 11pm

 -Friday, Saturday, Sunday: 8am to 12 pm

Trading Time of Picnic Baskets

4 Customized Venue and Picnic Basket Area for the customers which will be available as per the availability of the same.

11:30am / 1:30pm /  3:30pm  /  5:30pm

20 Customers per Time Slots

Average Menu Price Range - $25 to $35                         

The outdoor ambience setup café built up in the form of Treehouse will be giving a unique experience to the customers from the ordinary cafés and dinning and lunge areas. The Treehouse will be set up in a cool and calm area where the environmental conditions will be favorable for all visiting there. With the benefit of having a beautiful view of the nature and the surroundings the customers will be having the great hospitality services provided by us by serving better quality and diverse food and menu bar. The Café will be serving various in house made food s and cocktails that will be completely of new type and will be providing the customers with better quality experience for the food and drinks desired by them. The eco-friendly space built up will be having usage of all recyclable reusable products so that the venue and the business helps I environmental sustainability and protection. The place will be located away from the city and it is located in the outer skirts so that the customers can avid the daily hustle bustle of the city life. 

Below are some of the locally sourced suppliers and supply chains in the area:

  • FBN Company
  • Harvest Fresh Australia
  • Harris Farm Market
  • Eco Farms 

Target Market

The restaurant will be entering into contract with the supply stores and grocery farms, grocery retail stores from where it can outsource the raw materials required for its daily operations. The business venue will be having a customized store where it will be keeping all the desired and required products at an adequate quantity so that the business operation for the café runs smoothly.

The environmental analysis includes reviewing the possible ways in which the business venue will be contributing to the environmental protection, sustainability and development of the same. There are various ways in which the sustainability and protection of the environment could be done particularly by the usage of better and efficient technologies and renewable sources of energy (Keith, 2017). The environmental impact could be well tackled by the business by the usage of better efficient technological features, which optimizes the working conditions. Usage of Photovoltaic Cells in the designing of the Treehouse in order to generate maximum amount of solar energy for creation of solar energy may be the best alternative usage done by the café for generation of electricity. The sustainability in the environmental factors for the café may also be seen from the usage of better and efficient equipment’s and technologies, which would help the business venue in developing the same (Meredith et al. 2016). Usage of equipment is which would help reduce the usage of the water and wastage will be some of the key areas where the business will be working on. Creation of Bio toilet will be the secondary steps where the business will be taking its key steps in order to reduce the environmental impacts. Thus these are the key crucial areas where the business needs to works on in order to create a better environmental friendly place so that the surrounding and the nature in which the business venue operates does not gets destroyed (Wei, Abtahi & Vikesland, 2015).

The market feasibility of the restaurants depends on the toe of the strategies deployed by the restaurants for developing the prospect of the company. The outlay and the management concept for selling its services in a unique way has been the area where the business will be focusing on. The treehouse will be located in the Stargazer area in the Barangaroo area within the open area of the stargazer area, which will provide a unique way and experience for the business for the customers. The venue will be a perfect picnic area for the customers visiting there, as the customers will be having a unique experience in viewing the same. The market feasibility for the same is assessed to be in the better conditions as the customers get to know how about the business and the products and the services offered by the business. The business will be providing a unique experience by providing them a view about the current market situation and the feasibility analysis of the market. The demand for such unique services has been always in demand by the customers and the same can bring a unique experience for the customers. The number of picnic goers and the demand for such services expand by a significant amount, which shows that the future prospects and demand for the company is sustainable. The business has also decided that it will be using some ecofriendly technologies such as renewable sources of energy and equipment’s which optimizes the work of the business.

Reasons for the concept and problems it solves

A successful and well-developed business is formed by a series of many sound and useful decisions so the method and way of analyzing and intercepting a situation is essential. There are certain factors, which can be outlined as the key weakness for the company like the limited variability in the Food and Beverages Menu and its non-availability in other parts of the country, along with increasing competition in the   Food and Beverages Industry are the certain factors, which will hinder the growth and prosperity of the restaurant (Phillipov, 2016).

The marketing strategy deployed by the company focuses on the Price, Distributions, customer service, advertisement, and promotions (Jaworski, 2018).

  • Pricing: The price set up by the restaurant is well with the standard industry rates.
  • Distributions: The Restaurant caters its customers through its retail restaurant.
  • Advertisements and Promotions: Strategic Advertisements in Magazines and Newspaper and tie up with company’s and clubs are the best promotional and advertisement strategy which could be deployed by the Coffee Bar restaurant.
  • Customer Services: An excellent hospitality service by the coffee/bar hop has always let the restaurant cater its customers beyond its expectations.

The value of the restaurant will depend upon the strategy and the ways it implement for the targeted segmented consumers it suffer. There are a various methods, which the company can use for strategically advertising the coffee and bar restaurant (Proctor, 2014).

  • Strategically Advertisements among the targeted group of consumer and to the larger demographic trend.
  • Tie Up with various clubs and companies that have similar demographics and workforce trend.
  • Grassroots of Advertisements like giving discounts and coupons to the customers for their first time arrival can be used to increase to know about the knowledge and increase the popularity of the restaurant (McDonald & Wilson, 2016).
  • Increasing brand awareness through pamphlets and leaflet’s among the consumers.  

One of the main objectives of the marketing plan is to watch the financial objective of the restaurant, which will determine the return company should expect on its marketing and its overall profitability. Several objectives like Revenue, Costs Advertising and Profit are the different heads under which the company defines its financial objectives. Growth rate of double digit and reducing the variable costs are some of the key factors the cafe been focusing on (Dong, 2015). The total investible amount at the initial stage for the business will be 1 million which will be invested in the development of the house, the equipment’s, and other fixed assets for the company. The key expenses for the company will be the raw materials used by the company, which will be ibn the cost of goods sold.

  1. 100 seats in the restaurant
  2. Average order is $30
  3. Open for Breakfast & Lunch on Mon to Thurs.
  4. Open for Breakfast, Lunch & Dinner on Fri, Sat & Sun.
  5. Provides Picnic Baskets, Price starting from $75.
  6. Expected daily picnic basket sale “30-50”
  7. At Full Capacity, will serve 100 for breakfast, 80 for lunch and 80 for dinner.

Average menu order = $30

Average daily sales = $30 x 200 = $6000

Total Monthly sales = ($6000 per day x 4 days) x 4 weeks per month = $96,000

Revenue Projection (Weekends) (Without Alcohol)

Average menu order = $30

Average daily sales = $30 x 240 = $7200

Total Monthly sales = ($7200 per day x 3 days) x 4 weeks per month = $86,400

Revenue Projection (Picnic Baskets)

Average picnic basket order = $75

Average daily sales = $75 x 40 = $3000

Total Monthly sales = ($3000 per day x 7 days) x 4 weeks per month = $84,000

Revenue Projection (Monthly Total)

Weekday + Weekends + Picnic Baskets + Alcohol Sale = Monthly Total
$105,600 + $118,800 + $84,000 + $92,520 = $400,920

Revenue Projection (1st Year)

Monthly Total x 12 Months = $400,920 x 12 = $4,811,040

The key expenses for the business is expected to be in the form of the cost of goods sold use by the business and the fixed expenses to be borne by the company in the form of salaries and other variable and fixed expenses amounting to around 55% of the projected revenue.

Forecasted Financials

Revenue Projection

1st Year

2nd Year

3rd Year

4th Year

5th Year

Initial Revenue

4,811,040

Growth in Revenue

10%

10%

10%

10%

Projected Revenue

5292144

5821358

6403494

7043844

Cost of Goods Sold

2646072

2910679

3201747

3521922

3874114

Gross Profit

2,164,968

2381465

2619611

2881572

3169730

Key Expenses

Salaries

240552

264607

291068

320175

352192

Maintenance Cost

120276

132303.6

145534

160087.4

176096.1

Electricity

2000

2000

2000

2000

2000

Internet Charges

5000

5250

5513

5788

6078

Total Expenses

367828

404161

444114

488050

536366

Profit before Tax

1,797,140

1,977,304

2,175,497

2,393,522

2,633,364

Tax @30%

539142

593191.2

652649.1

718056.7

790009.2

Net Profit

1,257,998

1,384,113

1,522,848

1,675,466

1,843,355

Initial Investment

1,000,000

1050000

1102500

1157625

1215506

Return on Investment

25.8%

31.8%

38.1%

44.7%

51.7%

The five forces of Michael Porter five forces were analyzed in order to identify the key external macro-economic factors of the business.

Suppliers/Supply Chains

Supplier power:  The hospitality industry has been growing at a rapid stage and it is crucial for the companies to identify their position in the market with respect to the pricing strategy and the type of products and services provided by them. The supplier power for the business is identified to be strong as the customers would not be able to identify such substitute products or services offered by the business.(Gabler et al. 2017).

Competitive rivalry: Competition in the industry helped the companies and the business whether or not there existence or profitability is sustainable or not. The competition for the business is identified to be at a moderate level as there are a large number of growing cafes in the region, which are coming up with their unique idea and with a new concept. The analysis of the competitive strategy for the company will help the company identify the volatility in the profitability and the sustainability of the same in the long term.

Threat of substitution: The threat of substitution for the business is identified to be low as the competition between the various kinds of products and services offered is unique for the business. Thus, the same is favorable for the business and the business can grow optimally.

Threat of new entry:  The threat of new entry for the business is identified to be at a moderate level as business and café with the same unique idea can create a well-developed idea. Sustainability marks as a key factor in the end for a business and the demand for the products and services offered are some of the key points, which the company should evaluate before investing or entering into new market/industry.

Buyer Power: The buyer power for the consumer for this kind of products is usually low as the business will be providing a unique service for the customers. The influence made by the consumers in the terms of pricing and the type of products or services offered by the company is low.

It is crucial for the business to identify the key competitors for the business in order to identify the companies or business, which offer similar substitute products. The business must offer some differentiated products from the rest of other competitors in order to remain profitable and competitive in the end. The treehouse has a unique concept where competition for the business is found generally low but other restaurants and upcoming café with the same and unique idea with in their respective domain can be of a threat for the business.

Conclusion

The business unit developed for the Treehouse is expected to perform well and cover the various aspect of services. The casual dining area/business venue is expected to perform well in the market as the concept of the business is unique and the external threats identified for the company is not too high. The target market for the business was identified and the relevant strategy for the business was made for the venture. The various kinds of food that will be provided and the ambience of the business venue was foresighted to get a hint of what would the market place actually look like. The financial forecasting for the company was done which included forecasting the revenue of the business and the relevant pricing strategy that will be made by the company. 

Reference

ABC News website, (25/10/2009),  Harbour Bridge picnic may become annual, Link:

Barangaroo Reserve Plan. (2018). [Image]. Retrieved from https://www.pwpla.com/barangaroo/barangaroo-reserve

BioPak Food Service Packaging | Plant-Based & Compostable‎. (2018). Retrieved from: https://www.biopak.com.au/

Burns, P., & Dewhurst, J. (Eds.). (2016). Small business and entrepreneurship. Macmillan International Higher Education.

Byun.J. (2015). Porter’s 5 forces Analysis: Value-based service for sustainable Business of the Faber-Castell article. West Sydney University Electric Library. Retrieved from https://west-sydney-primo.hosted.exlibrisgroup.com/primo-explore/fulldisplay?docid=TN_crossref10.17961%2Fjdmr.18.4.201508.109&context=PC&vid=UWS-ALMA&lang=en_US&search_scope=default_scope&adaptor=primo_central_multiple_fe&tab=default_tab&query=any,contains,5%20porter's%20forces&sortby=rank&facet=rtype,exclude,newspaper_articles&facet=rtype,exclude,reviews

Chambers, I., & Humble, J. (2017). Plan for the planet: a business plan for a sustainable world. Routledge.

Gabler, C. B., Panagopoulos, N., Vlachos, P. A., & Rapp, A. (2017). Developing an environmentally sustainable business plan: An international B2B case study. Corporate Social Responsibility and Environmental Management, 24(4), 261-272.

Hopp, C., Greene, F. J., Honig, B., Karlsson, T., & Samuelsson, M. (2018). Revisiting the influence of institutional forces on the written business plan: a replication study. Management Review Quarterly, 1-38.

 https://www.abc.net.au/news/2009-10-25/harbour-bridge-picnic-may-become-annual/1116096

https://www.dailytelegraph.com.au/lifestyle/food/sydney-taste/barangaroo-revitalises-food-in-the-city/news-story/22d6686d1ee2705f73c187271e10de8a

Keith, L. (2017). Environmental sampling and analysis: a practical guide. Routledge.

McKeever, M. (2016). How to write a business plan. Nolo.

Meredith, N. A., Quinn, C., Cate, D. M., Reilly, T. H., Volckens, J., & Henry, C. S. (2016). based analytical devices for environmental analysis. Analyst, 141(6), 1874-1887.

Meryment. E, (2016), Barangaroo revitalises food in the city, Link:

Popup picnic website, (2018), About Us, Link:  https://popuppicnic.com.au

Schaper, M. T., Volery, T., Weber, P. C., & Gibson, B. (2014). Entrepreneurship and small business.

Trip advisor website, (n.d), Hotel Palisade Sydney Review, Lnk: https://www.tripadvisor.com.au/Hotel_Review-s1-g255060-d583800-Reviews-Hotel_Palisade-Sydney_New_South_Wales.html

Wei, H., Abtahi, S. M. H., & Vikesland, P. J. (2015). Plasmonic colorimetric and SERS sensors for environmental analysis. Environmental Science: Nano, 2(2), 120-135.

Wynne, H. S. (2016). 4 Wynnes Boating Manufacturing Company: A Market Analysis and Business Plan for Northwest Arkansas.

Yu, W., & Wiklund, J. (2015). NASCENT VENTURE TEAM DIVERSITY AND NASCENT VENTURE PERFORMANCE: AN INVESTIGATION OF BUSINESS PLAN AND OPPORTUNITY TYPE (SUMMARY). Frontiers of Entrepreneurship Research, 35(8), 11.

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