Total capital investment for this project is RM500k.
The yearly gross profit for the following 3rd year will RM3 million annually.
Entertainment Business is a Business where a Company sells its products or services for those who looks beyond the necessity of daily needs. Consumers for such businesses would be rich people, consumers that fancy Top Branded franchise and goods. Brands that they preferred to represent them. Branding would be the motives; the qualities and the price of products are secondary. Branding is vital for Companies stability and sustainability. It took me years to understand and to draft a safe Business Plan based on these Strategies to successfully establish a branded Franchised Bistros in Malaysia.
Penang from a relaxed tropical to a silicon island Penang. The state, mix of beachfront, city heritage and hillside residential living, has been one of the excellence choices to live, work, raise the family and retire. The population in Penang was approximately 1.935million (2013), with an average annual growth rate 2.11%. Penang is the top 3 most developed and industrialized state despite being the second smallest state in Malaysia. The Hospitality and tourism industries are the two key engines of economic growth for the state. Penang is known as Malaysian states Foods Paradise. The market for F&B businesses is huge and growing every year. Penang status economically is more becoming like KL and Singapore. Soon Penang will have the status as a City. Penang is naturally strategically located in a beautiful tropical environment. It’s a paradise. The weather is cool and rains moderately. It’s busy in the morning and afternoon…But starts to calm in the evening. It’s a Beautiful Rich Town. Penang growth can be observed from its traffic flow. It is very busy compare to 10 years before. Big branded cars like Bentleys, Porsche, Mercedes, Lamborghini, etc, are common. Properties in are valued from 2mill onwards. There are more expats from Middle East, UK, Japan, Australia and Singapore buying/ investing properties & businesses and making Penang as their second home. It is an ideal place for living. A drive from the main road of Gurney Drive to Batu Ferringhi, a person could assume he is in a Europe…such magnificent are the housing properties in Penang. Business growth in Tanjung Tokong and Batu Ferringhi is positively demanding and the turnover is growing. Serviced apartments, Budget Motels and Home stay concepts businesses are thriving in.
Review of the present restaurants and Bistros in Penang
Innovation to improve the business strategy in Penang F&B businesses are lacking. All the businesses are running with the same strategy. They are co placement with the way thing are running now and there seems to be no interest to bring the businesses to the next level. The opening of a new Bistro will definitely attract the customer who would like to try out new places. It would not be as a regular restaurants or bistros in Penang. With our strategy, it would be a place for the Rich Society to have some good times to dine and socialize.
My goal is to bring to the area a Bistro that will provide excellent food and drinks at comfortable but refined atmosphere, An exclusive standard restaurant for the High Society*. Loud music, DJs, disco lights, GROs, live shows, live band shows would not be the image of the bistro. Customers will find the Bistro conveniently located in the center of the town area. It will be an excellent place for business people and rich people.
The Business at a Glance
Bistro Name: SIX
Product/Service: Restaurant, Bar & Music
Strictly: No pork or lard
Form: SDN BHD (not yet registered)
Operation hours: 10 am to 2am
Company ownership: 60% Investor / 40% Promoter
The Products and Services
Bistro will have an outdoor open view place for customers to enjoy their drinks and meals with friends. A beautiful landscape featuring tropical concept would be most suitable. Outdoor tables would be comfortably positioned, matching with elegant canopies for each table.
Customers who are in this part of section can view the daily happenings outdoor. With the bistro located in the middle of a busy area…it would be most enjoyable place to meet with friends and have good times.
There would be 3 sections divided.
1-Sports bar – flat screen to view daily sports in a comfortable lounge. Foosball table to play games.
2-Lounge- these room will be designed for clients business meeting room. Adding comfortable thick leather sofas would most suitably make the lounge more conservative.
3-Dining area – This area is broken up into smaller areas that allow clients more intimate dining, meeting or chatting with family or friends.
Bistro signature food = ‘Pizza’
Introductions of buffalo mozzarella cheese,*Buffalo mozzarella cheeses are higher quality and better tasting than normal cow mozzarella cheese.
We would serve two types of pizza
1-Original authentic Italian standard topping Pizza
2-Add on extra topping ( this would be an additional advantage because our method of cooking the pizza would be handmade and customized (some like it hot))
Natural herbs as dill, thyme, oregano, basil, etc, would be used. Fresh salads like wild rocket, asparagus, baby spinach, etc would be common in Pizza ingredients. Other foods = Calzones, Gourmet Sandwiches, Stromboli and Pastas.
Non-Alcoholic- Premium mineral waters, fresh fruit juices, soft drinks, coffees and teas (similar to Starbucks) and Alcoholic Beverages ;
Our serviced staffs would be well trained to advice our clients on preferably most suitable beverage to suit the meal of our clients choices.
Pizza delivery from 12pm to 2am
-F&B Business License
Majority of Penang residents are rich societies. The opportunities to market and establish a spot for the millionaires are big. Many restaurants and bistros were established to cater for such clients but Failure rates are more than success. In year 2013 more than 10 outlets were closed within 6 months.
With our new innovated business strategy, our success of business operation can be established on the 1st month of the bistro operation.
• Failure to understand the targeted clients/customers
• Failure to fulfill the needs of customers
• Failure to create Branding for the establishment
We would project business strategies at an advance level. Followings are our business strategies;
1-marketing projected to attract the 20% clients
2-The Conversion Kaleidoscope
3-5 Sense Strategy
Majorities of F&B establishment in Penang are projecting their business strategy without any advanced or innovative strategy. Same method of marketing and promotions were implemented which has less effects toward to the outlets. 20 years ago this strategy would have been the core strategy, but as the needs to compete with foreign franchise, the needs for new strategies are crucial. Below are strategies projected by management and investors to make F&B establishment a success;
1- Comfortable investment
2- Good strategic location
3- Well trained professional management
4- Hospitality trained service staff
5- Good experienced chefs’
6- Premium quality food and beverages
7- Reasonable pricing
8- Beautiful concept (reasonably invested)
9- 10- Marketing
– Hire beautiful waitress/ promoters
– FB, Twitters, Blogs, newspapers, magazines
– Broadcast on radios
Above marketing strategies, promotions only covers 50% rate for the success of an F&B establishment.
We are in a new era (GEN-Y), perceptions of today’s generations demands and needs are not same as before. F&B business are in a competitive edge with international franchisee. Malaysian F&B business success rate is 3/10 International F&B business success rate in Malaysia is 10/10.Failure to attract and identify early adopters and early majority were the main reason. Every F&B business managements must know their 20% clients. 20% are the one that attracts influences and motivates the balance 60% customers. Majority F&B establishment in Malaysia’s failure is because their project their strategies for the 100% customers.
Customers are not created equal. We don’t just need “more customers’. We need better quality customers. The key profitability is supplying what most profitable customers segments want, not just what they need. There are 3 types of clients that an F&B establishment would desire.