Quick meal Project Report Fast Food Business Report
Table of Contents
1.0 Executive Summary
2.0 Situation Analysis
2.1 Market Summary
2.1.1 Market Demographics
2.1.2 Market Needs
2.1.3 Market Trend
2.1.4 Market Growth
2.2 SWOT Analysis
2.2.1 Strengths
2.2.2 Weakness
2.2.3 Opportunities
2.2.4 Threats
2.3 Competition
2.4 Keys to success
2.5 Critical Issues
3.0 Marketing Strategy
3.1 Mission
3.2 Objective
3.3 Target Markets
3.4 Positioning
3.5 Strategies
3.6 Marketing Mix
3.7 Marketing Research
4.0 Budgets
5.0 Control
6.0 Suggestion & Recommendation
7.0 Refrences
1.0 EXECUTIVE SUMMARY
‘Quick meal’ is a locally owned fast food outlet that will be positioned as an international franchise through our creative approach to the company's image. ‘Quick meal’ aims to be leader in providing quality food items that fit into a balanced diet. Our aim is to provide the hygienic and delicious tastes of fast foods items that the customers have never tasted before. We want to add convenience in the lives of fast food lovers by providing them the most wonderful dining experiences. ‘Quick meal’ is the answer to an increasing demand for snack-type fast food, to be consumed every day.
In today's highly competitive environment, it is becoming increasingly difficult to differentiate one fast food outlet from another. Karachi Asia 's new economic boom. Karachi
Our main priority is to establish one outlet in a crowded area. Later, our effort will be a further development of more retail outlets in the surrounding area.
Additional financing will need to be secured for the two subsequent outlets, anticipated in month 6 and early in year three. The financing, in addition to the capital contributions from shareholders, will allow ‘Quick meal’ to successfully open and expand through year two. The initial capital investment will allow ‘Quick meal’ to provide its customers with a value-driven, entertaining experience through the creativity of its founders.
‘Quick meal’ will entice youngsters to bring their friends and family with our innovative environment, fresh-cut French fries, different varieties of Burger and beverages and later on we will add more varieties of fast food items, as the restaurant will generate profits.
2.0 SITUATION ANALYSIS
2.1-Market Summary
Changes in lifestyles and demographics in many advanced economies have resulted in ever-increasing demand for fast-food restaurants over the past 20 years. In the past five years the restaurant industry has out-performed the national GNP of different countries of the world by 40%. Increasing disposable income and households that, for various reasons, have less time or at least a perceived reduction of time in which to prepare meals at home has stimulated this increase in demand.
Almost everywhere you look we’ll see a familiar sign symbolizing our fast food nation. We find them on the corners of streets, off the side of interstates, airports, malls, schools, gas stations, your local shopping center, and even in hospitals. More money is spent on French fries than on higher education, personal computers, or new cars! Looking at how our society has become faster paced, it is no wonder less time is spent. Today, eating out definitely is part of our fast paced lifestyle, not just a special treat as it was in years past. Fast food is mainly targeted to children. The high fat foods taste good to these youngsters, which in turn make them believe that fast food is quick, easy and satisfying. Fast food restaurants are now making “value” meals for children that are increased in portion sizes. Today, fast food has become a fashion, as customers are not only eating, they are enjoying the environment not adults, children are also fond of going to the fast food restaurants for celebrating their memorable occasions like birthdays, results and even get together parties.
2.1.1-Market demographic:
The profile of Quick meal customers or recipients consists of the following geographic, demographic factors:
(a) Geographic:
§ Karachi
§ Area is Gulshan-e-iqbal
(b) Demographic:
· 45% Male, Female 25% and 30% Children
· Age; all age groups.
· Occasional discounts on (Eid, Christmas, Birthday, thanks giving).
2.1.2-Market Needs:
QUICK MEAL is providing its customers healthy, nutritious, delicious and unique taste fast food items. QUICK MEAL attempts to fulfill following benefits that are important for customers as well as recipients
(a) Food quality
We will not only healthy and quality food but great service and a fun-entertaining atmosphere.
(b) Price
We will have low price as compare to the leading fast food restaurants so that every one can afford the healthy and delicious food.
(c) Customer Service
To facilitate our customers we need highly trained and experienced, cooperative staff those have enough space to satisfy customers in every way. In addition to this at our restaurant we will
Have a sound and cool environment with comfortable furniture.
2.1.3-Market Trend:
The fast food industry is growing tremendously over the past years in Pakistan
QUICK MEAL is aimed to develop high appreciated response in market. QUICK MEAL aims to be leader in providing quality food items that fit into a balanced diet. Our aim is to provide the hygienic and delicious tastes of fast foods items that the customers have never tasted before.
2.1.4-Market Growth:
Since, our restaurant is new in Market therefore first year is injection period due to which over expenditure are very high in respect to our profits. Funds will be utilized to pay for rent, leasehold improvements, supplies, advertising, administrative costs, inventory and labor for the six months. Expenditure cost includes a great portion of advertising expenditure. This cost will results in higher sale of our fast food products in future. QUICK MEAL is expected to generate positive net earning in the sixth month of the first year of operations.
2.2 SWOT ANALYSIS
SWOT analysis is to identify and analyze the strengths and weaknesses of Quick Meal organization as well as the opportunities and treats revealed by the information, the Quick Meal organization have gathered on the external environment.
| STRENGTH · Taste · Reasonable price. · Product Mix · Friendly & Quick Customer Services. · Cleanliness. · Strong promotions designed to attract especially children and women. | WEAKNESS · New to Fast Food Industry · New brand for customers · No door to door delivery in initial phase. · Not so well groomed staff. |
| · A breath of fresh air amongst consumers. · Increase in sales on the basis of taste, customer services and promotions. · Expand nationally. · Outlets at easy access locations. | THREAT · Heavy weights are entering competition. Longer service hours. · Fully groomed competition with global experience. · Bargaining power of suppliers. · Threats of new entrants. · Threats of substitutes. |
2.2.1-STRENGTH:
1. Taste:
In food business Taste is “The” Success factor. A good taste is a word of mouth promotion and a way towards quick establishment. We will maintain fine taste of food which will be the primary basis of recurring increased sales.
In food business Taste is “The” Success factor. A good taste is a word of mouth promotion and a way towards quick establishment. We will maintain fine taste of food which will be the primary basis of recurring increased sales.
2. Reasonable price:
Price should no way be higher; neither there should be any hidden charges. At Quick meal we will maintain a reasonable price which will be marginally lower than our competition. This we believe will be very helpful especially in the initial stages. Consumers won’t mind trying us out when we are better priced!
Price should no way be higher; neither there should be any hidden charges. At Quick meal we will maintain a reasonable price which will be marginally lower than our competition. This we believe will be very helpful especially in the initial stages. Consumers won’t mind trying us out when we are better priced!
3. Product Mix:
There will really be “Variety.” Quick Meal is generally limited with chicken and beef menus. We will offer our customers with more than routine. There will be chicken, beef, sea food, vegetables and “Variety.”
4. Friendly & Quick Customer Services:
People will be crude if we get rude. Nobody will wait if we get late.
People will be crude if we get rude. Nobody will wait if we get late.
5. Promotions designed to attract Children and Women:
Well, males don’t spend unless they are driven to do so. And children and women are the best drivers for purchases. Child can dictate a purchase to be a “Must Have.” Whereas mostly women are trusted with the responsible for family’s good health.
Well, males don’t spend unless they are driven to do so. And children and women are the best drivers for purchases. Child can dictate a purchase to be a “Must Have.” Whereas mostly women are trusted with the responsible for family’s good health.
2.2.2-WEAKNESS:
1. New to Fast Food Industry:
Well, we have chosen a tough industry to enter. There is a lot of competition not only foreign food franchises but also from local establishments.
2. New brand for customers:
People will take time to remember us as we are new. We have to work hard to build repute in consumer eyes.
People will take time to remember us as we are new. We have to work hard to build repute in consumer eyes.
3. No door to door initially:
We have planned to start door to door services after we have three outlets operational inKarachi
We have planned to start door to door services after we have three outlets operational in
4. Not so well groomed staff:
Our staff is relatively new and lack grooming and international training as staff of our major competitors.
Our staff is relatively new and lack grooming and international training as staff of our major competitors.
2.2.3-OPPORTUNITY:
1. A Breadth of Fresh Air:
As a fresh entrant we will be a sign of relief for many consumers who are bored eating routine menus with most of our competition.
2. Increase in Sales on the basis of taste, customer services and promotions:
We believe that if we keep a consistent good taste, a customer oriented service approach and run regular and well defined promotion schemes, there is no stopping to
We believe that if we keep a consistent good taste, a customer oriented service approach and run regular and well defined promotion schemes, there is no stopping to
3. Expand Nationally:
Pakistan
4. Outlets at easy access locations:
You will not need to find us. We will be sitting there waiting to serve in a place well known to you.
2.2.4-THREATS:
1. Heavy weights are entering competition: Longer service hours:
Every one is working 24/7, 365 days a year. Heavy weights that are experienced and properly funded can do it better than their average or below average competition gaining customer appreciation thus increased sales.
Every one is working 24/7, 365 days a year. Heavy weights that are experienced and properly funded can do it better than their average or below average competition gaining customer appreciation thus increased sales.
2. Fully groomed competition with global experience:
They are out there buckled up, on the driving seat and in the fast lane.
They are out there buckled up, on the driving seat and in the fast lane.
3. Bargaining Power of Suppliers:
One of the disadvantages of an open deregulated industry. Quick Meal raw material suppliers can be very unreasonable in their prices which could often force a business to sell finished products at high prices. So, got to have a strong PR with these guys!
One of the disadvantages of an open deregulated industry. Quick Meal raw material suppliers can be very unreasonable in their prices which could often force a business to sell finished products at high prices. So, got to have a strong PR with these guys!
4. Threats of new entrants:
This is always there. One has to live with it. However, it is a good thing as well. Keep businesses on toes and competition kicking resulting in providing the end consumer with a richer and tastier experience?
This is always there. One has to live with it. However, it is a good thing as well. Keep businesses on toes and competition kicking resulting in providing the end consumer with a richer and tastier experience?
5. Threats of substitutes:
If you do not have what the customer wants, or if you do not have it to their liking, there is always somebody who has it.
If you do not have what the customer wants, or if you do not have it to their liking, there is always somebody who has it.
2.3-Competition:
Quick meal has to develop a product-market structure of the food restaurants in the Country wide for competitor. Using the concept of hierarchical clustering based on
Substitution-in-use, the influence of three categories of situational influence was used to modify the original choice-market mix relationship at every clustering stage. Changes in the importance of the individual components of the product-service mix served as the basis of the link-up among competing Quick Meal food restaurants. 2.4-Keys to success:
Main Points for Success
· Key Area of Work that must go right
· To ensure Successful competitive
· TO ensure Quick Meal Performance Unique
2.5-Critical Issues:
Critical issues are as New Business………
1. Control Setup expenses
2. General awareness and customer loyalty for repeat referred.
3. understanding the kids Choices
Marketing Strategy
3.1-Mission:
- Product quality not only great food but great service and a fun-entertaining atmosphere.
- Managing finances to enable us to open new locations
- Controlling costs focusing on themes that have customer appeal.
- Creation of spectacular design and layout at each facility.
- Encourage the two most important values in fast food business: brand and image, as these two ingredients are a couple of main drivers in marketing communications
3.2-Objectives:
The purpose is to start ‘Quick meal’ fast food restaurant to serve people of new era with a different and the most competitive style. We want to serve that middle-income group who could not spend time in their busy schedule to take healthy food by providing food items, which is 100% nutrient, healthy. The prime purpose is to generate profit by providing superb customer services. Quick meal aims to be leader in providing quality food items that fit into a balanced diet. Our aim is to provide the hygienic and delicious tastes of fast foods items that the customers have never tasted before
3.3-Target Markets:
We are targeting:
· Children: studying in schools
· Teenagers: high schools & colleges
· Women: housewives.
· Families: young families.
· Income: we will appeal to the medium income individuals and to all in the
lower income.
lower income.
It is also observed that:
· House wives tend to persist that whenever a family goes out to lunch; it should be neat and clean place offering good taste and something special for the kids like gifts, playing area etc.
· Parents give more money to kids and students to buy lunch. Fast food is naturally their first choice, because of the brand building efforts that heavily targets their age group.
· White Collar workers in offices: It is observed that these have stopped bringing lunch and enjoy chicken, pizza or other fast food joints in the vicinity.
· Eating out still remains as Pakistani’s common habit of life. They do not perceive fast food is a luxury, and they enjoy it by bringing their family, especially if they have smaller kids, in the environment of the western – style fast food outlets.
3.4 Positioning:
Customer perception is a key factor affecting a product’s success. Quick Meal being a local brand brings with it certain expectations for the customers. Customers expect it to be an ambient, hygienic and a little sophisticated brand that respects their values.
Quick Meal will position itself in hearts and mind of its target market through its good taste, variety of food, quality and quick services and accessibility. We want to be the first name that will ever come to customer minds when they decide to dine out. We want to be their only choice.
3.5-Strategies:
Quick Meal in implementing different types of marketing strategies including:
Their main strategy is to attract few but profitable customers. They prefer to bundle up their commodities in the form of meals. They are planning to arrange social programs like anti pollution. They contribute a small amount of their income in donation.
Packaging is a fundamental part of serving our customers. Our menu involves 3 unique consumer package designs, box, bags and plastic box. Quick Meal has a number of strategies to ensure environmentally sound operations at their restaurants, managing electrical energy and effective water management.
Quick Meal is also doing much for the betterment of our employers. We tries to recruit the best, hire the best, and provide the best place to work. So we can say that all these marketing strategies as well as the social responsibilities of the Quick Meal.
Quick Meal intends to cater to the bulk of Children and Women (housewives) in Pakistan
3.6-Market Mix:
In Pakistan Pakistan
1. Product of Quick Meal
At first Quick Meal restaurants started in Karachi
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The Quick Meal is offering different product during Break fast, lunch and dinner timing. Such as chicken burger is the most important product of Quick Meal menu some other important type of burger, chicken chapli burger, Quick Meal falooda and cheese behari burger etc. Quick Meal is also providing fried chickens.
FRIED SNACK FUSION SPECIALITY
Chicken Broast (large) fusion chapli burger
French fries fusion behari twister
Fried fish fusion falooda
BURGERS BEVERAGES
Chicken Cheese Burger Cold and hot iced coffee.
Beef Burger Hot and iced tea.
Beef Cheese Burger Various juices.
Zinger Burger Milk shakes/ Yogurt drink
DESERT
Ice cream.
Quick Meal Falooda
2. PRICE
Price is the most important factor of the marketing mix because price counts much in the sale of the product. Quick Meal in Ø Kids deals.
Ø Family deals.
Ø Lunch deals.
Ø Mid Night deals etc.
Ø Party deals.
On these deals Quick Meal offer special discounts.
FRIED SNACK SPECIALITY (Price Rs.) Quick Meal (Price Rs.)
Chicken Broast 60 Quick Meal chapli burger 65
French fries 10 Quick Meal behari twisters 30
Fried fish 80 Quick Meal falooda 40
BURGERS BEVERAGES
Chicken Cheese Burger 100 Cold & hot iced coffee. 40
Beef Burger 80 Hot and iced tea. 20
Beef Cheese Burger 90 Various juices. 50
Zinger Burger 100 Milk shakes 60
Yogurt drinks 40
DESERT
Ice cream. 50
Quick Meal Falooda 80
3. PLACEMENTS:
Quick Meal restaurants are present in Gulshan-e-Iqbal at Karachi Karachi
1. Anticipated sales volume:
Location is one of the important factors to increase sales volume. People love to go there where they found easy top access.
2. Accessibility to potential customers:
Quick Meal considers the place which is easy for customers to access. Locate where nearby businesses will generate foot traffic for Quick Meal.
3. Traffic density:
With careful examination of food traffic, Quick Meal determines the approximate sales potential of each pedestrian passing a given location. Two factors are especially important in this analysis: total pedestrian traffic during business hours and the percentage of it that is likely to patronize your food service business.
4. Visibility is a location’s ability to be seen and recognized:
Good visibility can create opportunities for the impulse eating decision that is critical for fast food operators, and it allows the exposure full-service restaurants require.
5. Customer parking facilities:
Quick Meal provides convenient, adequate parking as well as easy access for customers.
6. Proximity to other businesses:
Neighboring businesses may influence fusion store's volume.
4. PROMOTION:
Being a medium-level restaurant with properly focused market, simpler promotion techniques may used like,
1. Banners & Boards:
Small & medium sized banners can be hanged at the common streets, main bazaar, bus stops, near offices, main shopping areas.
2. Pamphlets:
Pamphlets can be adhered on commonly seen walls, near major general stores & fast food shops, which are widely being visited by targeted customers that are young students. Such Pamphlets can also be given to the local newspaper distributors for circulating in the area with newspapers.
3. T.V. Slides:
Slides can be given to local cable operators for display at proper time like late afternoon, evening & early morning.
4. Personal Promotion:
T Shirt and caps with log of restaurant may distribute to the kids who come with families. Staff shall be encouraged for marketing by offering certain initiatives like mark-ups, appraisals etc. Disclose the poster on school canteen.
3.7-Market Research:
In carrying out the study, we adopted the following method for Research:
1. A survey research of market including potential consumers, existing competitors and market practices of the competitors
2. Most of the data collection is dependent on the secondary source of information that is
· Internet
· Magazine
· Newspapers
3. Collation and detailed analysis of both primary and secondary data.
4.0- Budgets:
Initial budget to start the business will provide the total cost of the project.
| ITEM | COST (Rs.) |
| Construction cost ( all inclusive) | 1,307,000 |
| Dinning &office furniture | 542,250 |
| Equipment & machinery | 967,700 |
| Advance rent | 1,200,000 |
| Preliminary expense | 50,000 |
| Working capital | 1,036,000 |
| Total | 5,102,250 |
Machinery & Equipment:
Understanding the customer’s individual needs and the capability to satisfy these completely is a vital part of the restaurant’s success. This is in turn dependent on
the machinery and equipment used to produce good quality fast food.
The project cost estimates for the proposed fast food outlet have been formulated on the basis of discussions with relevant stakeholders and experts. The cost projections cover the cost of land, building, inventory, equipment including office furniture etc. The specific assumptions relating to individual cost components are given as under:
Revenue & Cost Projections:
The Sales are expected to increase by 15% every year while the cost of raw materials is assumed to increase by 10%. The 15% annual increase in revenue is expected to result from a part increase in population increase and part increase in product price.
Furthermore it is assumed that the following sales breakup will form the revenue streams for the fast food outlet
| REVENUE | % OF TOTAL SALES |
| Dine | 60% |
| Take away | 20% |
| Home delivery | 20% |
| Total revenue | 100% |
Utilities Requirement:
The following table presents the assumed breakup of utilities on a monthly basis. Most of the fast food machines require considerable gas during the preparation process. The preheating procedure of the equipment before commencement of preparation also consumes considerable gas. It is assumed that utilities expenses will be increased by 10% every year.
| Utility | Monthly charges (Rs ) |
| Electricity | 25,000 |
| water | 2,000 |
| gas | 15,000 |
| Telephone | 10,000 |
| Total | 52,000 |
Working Capital & Pre Operating Cost:
It is estimated that an additional amount of approximately Rs. 1,036,000 will be required as cash in hand to meet the working capital requirements / contingency cash for the initial stages. The requirement is based on the rent, utilities and salaries expenses for at least four months and 3 days raw material inventory. The following table gives the break up.
| item | 4 months cost (Rs.) |
| Utilities | 208,000 |
| salaries | 358,000 |
| Raw material inventory | 70,000 |
| Rent | 400,000 |
| Total | 1,036,000 |
5.0- CONTROLS
The purpose of the Quick meal’s marketing plan is to provide the organization with a long-term guide for growing its business. This plan will also serve as a functional short-term document that enumerates the activities that must take place. The following will be monitored to gauge effectiveness:
· Revenue: monthly and annual, based on planned compared to actual.
· Expenses: monthly and annual, based on planned compared to actual.
· Customer satisfaction, to generate repeat business and referral activity.
· The number of complaints or problems as a percentage of overall sales.
6.0- Suggestion & Recommendation:
· The growth rate in food consumption is also greater than before by the rapid increase in the employment rate for males / female population aging between 20 to 29 years (fast food goers) hence the greater income contribution to the overall income generated is expected to be higher so it’s profitable to invest in it.
· One of the most important factors in the strategic planning of a restaurant is in the development of the menu. It involves designing an appealing selection of menu items that are competitively priced in the marketplace.
· The value of consumer time, as well as the demand for consistent, high-quality food products, will continue to shape the fast food industry.
· Traditional fast food items along with Italian additions joined by the desi and grilled additions will comprise of exciting menu which carries newer and taste experience for the customers.
· By serving healthy food and keeping a neat and clean environment FUSION will actively play its part towards the betterment of the environment
· The customers want good quality food therefore nothing stale or outdated will ever be sold to customers.
· Offering Lucky draw coupons, movie tickets, tickets to amusement parks etc. Gift items will be mandatory however for children in their respective kid's meal.
· Packaging design will be elegant yet simple at the same time which will be favorable with the common public.
7.0- References:
Friends and family
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