CompanyINTRODUCTION
Management is a technique which is required in every industry it helps to run the business smoothly and gain higher profits. In food and beverage industry is mainly related to restaurants or hotels that serve different types of food (Davis and et. al., 2018). This industry provides various services such as preparing, presenting and delivering eating and drinking items to the customers. The organisation taken in this report is Wetherspoon, which is based in the UK. The company is willing to introduce a new food item which is rainbow rice. For this purpose, a business plan is prepared and its outcomes are analysed under this project report. This report also consists of aims, policies and objectives of a food and beverages management system, an explanation and assessment of a new food and beverages management system and the importance of marketing, sales and promotion in relation to the same sector is also covered in this report.
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1. Explanation of industry aims, policies and standards
The food and beverage management system is followed by all hospitality-related companies as they serve all types of foods and drinks to their customers. In this type of industry, management is very important as it can help to perform all the activities appropriately. Following are some aims, policies and standards of this sector that are embedded in such type of management system:
Industry Aims:
- The main aim of the industry is to provide the best services and food items to the customers and this is possible if the company is following a proper food and beverage management system.
- To attract a higher number of customers and satisfy their needs which can be achieved through a proper management system (Grekova and et. al., 2014).
Policies:
- Companies that are the part of food and beverage industry should provide hygienic food and prepare it by considering the health of their customers. This could be done by following a management system in which managers can keep an eye on every activity which is performed by the staff while preparing food.
- Organisations should ignore food contamination like harmful chemicals and microorganisms, because this may result in consumer illness. For this purpose, a proper management system should be followed as this may reduce the possibility of such types of issues.
Standards:
- ISO 9001: It is mainly related to the management system of the quality of food that is provided to the customers. It directs companies to provide prime products and services to the consumers that may fulfil their requirements.
- ISO 22000: It is introduced to deal with food safety issues. Under this standard companies are directed to keep communicating with their staff to ensure relevant food and safety hazards in the food chain (Ha and et. al., 2014).
2. Food and beverage outlet business plan and analysis of data
Business plan: It is a written document that contains detailed information such as objectives, vision, mission etc. of a company. It is mainly generated to keep all the data in one place so that it may facilitate making any decision. Wetherspoon is now willing to launch a new food item which is Rainbow rice a new innovation (Martinez, 2013). For this purpose, the company needs to prepare a business plan to attain its objectives. The detailed business plan is as follows:
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Business Plan |
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1. New product goals and objectives |
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New product: Wetherspoon is now launching Rainbow rice with fish and multi-coloured peppers. Aim: The organisation's main objective is to attract more and more customers by providing them with attractive, innovative and good-quality food items. Policies: The company is using a nutrition policy as it is using green and other vegetables for colouring in rice. |
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Objective for the new product Short term: The objective of the company Rainbow Rice is to attract customers by providing them with a new and innovative product. Long-term: To pull potential customers by providing them with varieties in one food item. |
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Introduction of organisation: Organisation: The new food item is going to be sold by Wetherspoon which is currently located in the UK. It provides online services to its customers so that they may order food and pay amount from their phone. Aim: The aim of the company is to be at the top of the food and beverages industry by acquiring a higher market share. Policies: The organisation is following various policies such as food safety, nutrition and agriculture. The company buys food materials directly from farmers and serves hygienic food items. |
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Objectives of the Wetherspoon Short term: To make modification in the food chain. Long-term: Wetherspoon has set a long-term objective which is, to acquire more market share by introducing more innovative food items, so that it can retain existing customers and attract potential. |
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2. Probable financial outcome |
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The probable outcome of action: As analysed from the income statement of the company the total profits of the company have increased as compared to the previous year. There is a possibility of huge success for a new product because it is an innovative concept that may attract more customers (Slining, Mathias and Popkin, 2013). |
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Approach to pricing Rainbow rice: As analysed from the Appendix the probable selling price for this food item is 25£. The total cost for this item is 20£ and the total profit margin of the company is 5% of the cost. The company has set the price appropriately which is a combination of various costs such as ingredients and preparation. |
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Targeted customers: Estimates of potential customers for the organisation are 20000 approximately from the total population of the country. This estimation is mainly based on the image and performance of Wetherspoon. The target region for the company is London. |
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3. Production and service system of the new product |
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New food production and service system: The system is as follows Input: All the ingredients are input for the food item. Those are olive oil, rice, peppers, vegetable puree, salt, lemon juice etc. Process: It consists of all the processes such as chopping, cooking, boiling etc. Output: It is the food item which is going to be received after all the processes. When the output has been received this will be served to the customers with an attractive presentation. |
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Operational plan: It has been decided that Rainbow rice will be served with fish and multi-coloured pepper. As it is a new and innovative idea it is vital for the organisation to provide good quality food and the best services so that more and more customers get attracted to its food. |
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Legislations: Food Standard Act 1999: This is mainly related to public health and consumers' interests. If Wetherspoon does not consider consumers' health and uses harmful ingredients then it may affect the sale (Wood, 2018). Food Safety Order 1991: It affects the food business by analysing whether they are providing food according to their promise or not. It also assures that food is safe for customers. |
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Necessary training and staffing requirements: It is essential for Wetherspoon to provide training to its staff which can help them to attend to customers specifically. It is also very important for the employees of the restaurant to serve food according to customers' demands. |
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4. Market and competition |
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Customers' trends and needs for new food items: Nowadays customers are willing to have new and innovative food items that can satisfy their needs. Customers also go to those restaurants that serve the best food items with high-quality additional services such as good dining, perfect environment etc. The need for Rainbow rice is that it is made from different vegetables so if a customer is having an allergy to a vegetable then this may create a problem. |
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Unique selling point: For Rainbow rice unique selling point is its colours as it will be served in very colourful form. Another unique point is that the colours that are used are not artificial they use natural vegetables to provide colours to rice. |
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Target customer: It has been decided by the company that it will target local young people first so that their feedback can be recorded and if there is any problem in food then it will be improved or resolved. The target customers are selected from London. |
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Research: The secondary type of research has been conducted for the market, industry and region. From the internet and other resources, it has been analysed that customer's tastes and preferences always remain changing and there is a need to make modification in food items. So that more customers are attracted. It has been also determined that competitors are not providing options to the customers this is a good chance for Wetherspoon to attract customers with its new food item (Pelletier and Laska, 2013). |
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Promotion: The company will promote its business with the help of advertisements and additional discounts to its existing customers. |
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Business operation: The business will be operated in London firstly and if it gets successful that organisation will spread it all over the UK. |
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SWOT of Wetherspoon: Strengths: Natural items are used rather than artificial to provide colour in food. It provides options to its customers. Weaknesses: A major weakness of Wetherspoon is that it allows children with adults which is not good. Threat: As the company is running its business in various countries it is possible that political factors may affect business negatively. Opportunity: As company use innovative and updated methods for food production that can result in higher profits. |
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Details of competitor: Name: Nandos Location: It operates its business in London. Website: www.nandos.co.uk Aim: The main aim of the company is to attract more and more customers to maximise profits. Strengths: It provides the best-grilled chicken in the world. The selling price for food is reasonable according to food quality. Weaknesses: It spends less on marketing activities so there is low recognition of the restaurant. |
From the above-mentioned business plan, it has been analysed that the main objective of the company is to attract more and more customers by providing them with innovative food items. There is a probability that Rainbow Rice can grab the attention of a higher number of customers as it is very attractive and innovative.
3. New food and beverage management system
There are various management systems that are used by the food and beverage industry. All of them are explained below:
- Food production methods: There are various types of methods that can be used by Wetherspoon to produce a new food item which is rainbow rice. These methods are chopping, boiling, frying, grilling, mixing, pasteurising, steaming and grinding.
- Service and quality: While delivering food items to the customers the company needs to provide the best quality food with additional services like good surroundings, special dining etc. If it provides good services to its customers then it will help to set a positive market image.
- Menu costing and budgeting:It is essential for an organisation to prepare a budget before launching a new product. Wetherspoon should set appropriate prices for its food items which is going to be introduced and create a budget for this launch so that this may not affect the availability of funds. The price for Rainbow rice is 25£ which and the cost is 20£ and the company is earning a profit of 5£ on one unit of the food item.
- Pricing techniques: Wetherspoon should use the right pricing technique to set appropriate prices that are affordable for customers. It should also be determined what pricing strategies are used by competitors so that the right price can be estimated. The company has used pricing for its market penetration strategy.
- Sales promotion: It is an activity that helps to increase sales by providing various benefits to the customers. It includes discounts, coupons etc. It can be adopted by Wetherspoon in order to maximise sales of its new and innovative food item which is rainbow rice.
As Wetherspoon is launching a new and innovative food item all the above-mentioned systems can be used by the company to attain its goals which are customer satisfaction and profit maximisation (Chen and et. al., 2015). Dissertation help online to score dream garden.
Menu for the event:
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Dishes |
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Rainbow Rice with fish and multicoloured peppers |
Main course |
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Green salad |
Starter |
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Virgin Mojito |
Beverage |
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Apple Pie |
Desert |
4. Importance of marketing, sales and promotion
When a company is willing to launch a new product or service then it is very important to promote, and market that product so that more and more customers get attracted and this can help to acquire more market share. As Wetherspoon is introducing an innovative food item which is Rainbow rice with fish and coloured peppers, it is essential to perform marketing activities in order to attract customers. The following are the importance of marketing, sales and promotion:
Marketing:
- It increases awareness among people which helps to attract more and more market share.
- If an organisation is using proper marketing activities then it may result in increased trust in customers because marketing can build a good market image (Importance of Marketing 2018).
Sales:
- It fills the gap between customers and organisations.
- It is very important as it can help to recover all the expenses that are spent by an organisation.
Promotion:
- It helps to inform the market about the benefits of a product.
- It creates differentiation among the same products by describing their benefits.
All these elements are very important for Wetherspoon because they can help in the food and beverage management system which is very important for the hospitality industry.
Plan for the event:
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Venue |
Restaurant Gallery |
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Timings |
6 PM onwards |
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Chief Guest |
Chef Steve |
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Cost to be incurred |
2500 |
CONCLUSION
From the above project report, it has been analysed that in every industry management is very important in order to maximise profits. If an organisation is willing to launch an innovative product it should conduct marketing and promotion activities so that more customers get to know about the same. While introducing a new service or product company should make a proper business plan so that all the activities can be performed specifically.
REFERENCES
- Chen, E. and et. al., 2015. Implementation of non-regulatory food safety management schemes in New Zealand: a survey of the food and beverage industry. Food control. 47. pp.569-576.
- Davis, B. and et. al., 2018. Food and beverage management. Routledge.
- Grekova, K. and et. al., 2014. Extending environmental management beyond the firm boundaries: An empirical study of Dutch food and beverage firms. International Journal of Production Economics. 152. pp.174-187.
- Ha, O. K. and et. al., 2014. Relation model describing the effects of introducing RFID in the supply chain: evidence from the food and beverage industry in South Korea. Personal and Ubiquitous Computing. 18(3). pp.553-561.
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