The paper "Starting and Developing a New Venture: The Take-Away Restaurant Bohemian Rapsody" is a wonderful example of a case study on business. Cardiff being the capital city of Welsh has a good mix of different ethnic groups of various religions, cultures, s and beliefs. The growing demand for taking away food in the UK market along with a global increase in taking away restaurants are researched in building the restaurant and its menu selection The new venture is designed to be suiting the taste and preference of the region while developing the concepts of new restaurant business plans, that growing globally.
The new restaurant would be a multi-cuisine takeaway inspired by The Queen’ s most famous number ‘ Bohemian Rhapsody’ . Ford (2015) notes that the number of meals served in the UK restaurants is decreasing post-2008 economic crisis and that from 2008 to 2012 there has been a decline of 4000 outlets across the UK. The market is establishing itself now and the take-away counters are expected to do well if a variety of tastes with cost-effective products is served. The market has shown growth for the casual dining formats by 4.4% in the UK market in the same period and that is due to independent small business ventures (Riding et al. 2012).
Business Planning: Issues and Challenges The key issues in developing the project are discussed from the demographic and legal requirements. The 2010 census of the city projected a population of over 350,000 with one of the fastest-growing populations in the entire Welsh (Visitwales. com, 2015). The economy is dependent upon coal mining and steel production and contributes 20% to the entire Welsh GDP (BBC News, 2015).
However, the city's unemployment figures show a 4.4% population in 2010 when the weekly earnings were projected to be 445 GBP on average (Price, 2014). Considering all the factors the new restaurant shall plan its offerings and service designs. Further, the name has been selected to give a very unique English nostalgia feel of the eighties from the pen of Freddy Mercury. The mission of the business is to serve the residents and professionals of Cardiff the best of mixed cuisine at the best price offerings and an assortment of seasonal regional flavors to choose from.
The objectives for the business would be to create a space for itself in the business areas of Cardiff and earn substantial revenue that gives the business break-even within 1 year of operations.
Deakins, D. Jennings, P. and Mason, C., 2011, Small Firms: Entrepreneurship in the Nineties, Paul Chapman Publishing
Ethnic stereotypes and the underachievement of UK medical students from ethnic minorities: qualitative study. 2008. BMJ, 337(sep01 2), pp.a1470-a1470.
Income Tax. Gains or Losses on Sales and Exchanges. Status of Franchise Grants as Licenses, Not Sales. United States v. Wernentin, 2011, 354-757 (8) Harvard Law Review, 80(2), p.455.
Martello, W.E. 1994, ‘Developing Creative Business Insights: Serendipity and its Potential’, Entrepreneurship and Regional Development, vol. 6, no. 2, pp. 239–58.
Reynolds, P.D. and White, S.B., 1997, The Entrepreneurial Process: Economic Growth, Men, Women and Minorities, Quorum, Westport, USA.
Shepperson, G. 1996. Ethnic Labour and British Imperial Trade: A History of Ethnic Seafarers in the UK. African Affairs, 95(379), pp.308-309.
Tan, Y., Huang, H. and Lu, H. 2012. The Effect of Venture Capital Investment-Evidence from China's Small and Medium-Sized Enterprises Board. Journal of Small Business Management, 51(1), pp.138-157.
Timmons, J.A., 1998, New Venture Creation: Entrepreneurship for the 21st Century, Fifth Edition, Irwin, Illinois.