Business Plan

Topics: Ramen, Instant noodles, Japanese cuisine Pages: 13 (3389 words) Published: June 14, 2013
BOKUCHOI RAMEN
5 year Business Plan

Chung Moon
(813) 454-4240

TABLE OF CONTENTS
PLAN SUMMARY3
COMPANY AND INDUSTRY3
COMPANY3
Mission Statement4
Vision Statement4
INDUSTRY4
Competition5
Trends6
THE PRODUCT6
Research and Development7
Future Developments7
MARKET ANALYSIS7
Target Market8
Demographics9
MARKETING STRATEGY9
Pricing10
OPERATIONS10
Floor Plan10
Production Process11
Labor12
MANAGEMENT AND ORGANIZATION12
LONG TERM PLANS13
CRITICAL RISKS14
FINANCIAL14
CONCLUSION14
REFERENCES15

PLAN SUMMARY

Bokuchoi Ramen belongs to the restaurant industry (NAICS: 722211. SIC: 5812). The restaurant concept is to bring original Japanese ramen noodles to the Tampa Bay area. It will be located at the University Mall in Tampa, FL.

Ramen is known by many in the US as the instant noodle that has become a staple in the life of many college students. The ramen that is made from scratch though, can be an incredible experience that everyone should taste at least once in their lives.

Although there is a risk in opening up a brand new concept, a 3.6% sales growth in the restaurant industry and the demand of consumers show a promising future for Bokuchoi.

In order to provide a good product, the ramen will be prepared all from scratch on location. This is done in order to keep up the standards. This is very crucial since the location has a high density of competitors, and the customers in the area tend to be price conscious as well – the pricing is set slightly higher than the immediate competition.

Bokuchoi presents itself with a huge potential to be a success. Over time there is the possibility to expand into different cities such as Minneapolis, MN.

COMPANY AND INDUSTRY

COMPANY

Bokuchoi Ramen is a small ramen noodle restaurant in the tradition of the Japanese staple dish. It is non-seating establishment located at the food court of University Mall in Tampa, FL.

Ramen noodle shacks are to Japan what the fast-food restaurants are to the people in the States. They are a place where people go for a quick, rich, filling meal when they don’t have time or simply don’t feel like cooking. The ramen that is being mentioned here is not the one people know as the instant noodles. No, the ramen that is to be sold is the ‘real’ Japanese dish. Similar to the instant version, ramen is simple in concept yet incredibly challenging to produce. When prepared correctly, a bowl of ramen noodles can fix anyone’s day.

Bokuchoi Ramen is a dba name for Jackie Moon, LLC. (EIN 27-5272968). The current sole principal of the business is Chung Moon. He is the owner, and general manager of the restaurant. Other employees such as cooks and cashiers will be hired in the near future.

Mission Statement

To bring the customer the delicious and authentic taste of Japanese ramen with high quality, and at a very affordable price.

Vision Statement

To become an ambassador of ramen to places in the world that has not yet been graced with the availability of such a delicious dish.

INDUSTRY

NAICS: 722211 – Limited service restaurants
SIC: 5812 – Eating places

According to the NAICS classification (2002), Bokuchoi Ramen falls under the category that includes fast-food restaurants.

The restaurant industry is forecasted in 2011 to reach a record high of $604 billion, that is 3.6% higher than in 2010. In general, the restaurant industry has been performing better than the average in recent years. $164 billion dollars of those sales belong to the fast service segment of the industry. The restaurant industry is one of the largest employers in the private sector, about 1 in 10 people in the US work in the industry. Florida has one of the higher increases in sales in the industry (restaurant.org)

What does this mean? According to forecast, the restaurant industry has remained profitable...

References: National Restaurant Association, “Forecast 2011” http://www.restaurant.org/research/forecast/
Restaurant Hospitality, “2011’s Hottest Food Trends” http://restaurant-hospitality.com/news/hottest-food-trends-1019/
U.S. Census Bureau, “Hillsborough County, FL. Quickfacts” (2011) http://quickfacts.census.gov/qfd/states/12/12057.html
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