Vision and OpportunityMy name is xxx, and I am pursuing my graduation in xxx. Very shortly, I am going to be graduating, and hence I am looking for a successful career after that. I want to develop my career by doing a business in my own restaurant. I still did not open it. However, I am looking forward to doing so after the completion of my graduation. The reasons to choose this line of business are many. First, I love and really enjoy this field. Moreover, I am a big foodie and love trying out new recipes. I also have a good interest in preparing different dishes. Secondly, I believe that I am capable and eligible enough for this business, though there is a lot more to learn along the pathway as I begin walking on that path. As I begin with this business, my mission would be to deliver tasty and high-quality meals to my customers at affordable prices. Some of my relatives are already indulged in this business, and hence, I can get a lot of ideas regarding that. However, I want to clearly mention that I will not join their business. My business would be completely new and of my own. My family also is supportive enough for this business. I expect to begin my business with a good team and staff who would be highly dedicated and committed to their work.
Marketing and ImplementationI would begin my business by renting in a moderately busy area in the city. The location should also be highly appropriate for talking classes for professional waiters and chefs. The location must be able to accommodate at least 50 customers at a time. I would also require efficient staff, which would include the waiters, chefs, receptionists and housekeepers, to conduct my business successfully. The employees would also be given sufficient training to learn new concepts and implement them in their activities because my business would require talented and innovative employees who are eager and also brave enough to try out new things. This would help my business possess talented and innovative employees. They would also be trained to communicate effectively with the customers and meet their needs properly on time. The employees will also be given the right to choose their subjects based on their talents and get the training more effectively. They would be highly encouraged to explore and put their training into real practice instead of working mechanically and making money for survival.
Risks and mitigationThere are various checkpoints which I need to consider before starting my business. First of all, I need to analyse the market properly to identify consumer demand and preferences. I need to be aware of the industrial growth and external market factors of the desired location. I should have an easily accessible and safe location for my business. Secondly, I should regularly check for customer feedback and queries and address them immediately. Third, I should always act as a supportive leader toward my employees, conduct regular meetings with them, identify their drawbacks and take measures to correct them. Fourth, I should also check for all business facilities such as technology, operation, maintenance, and electricity.My business will also face major challenges as it begins. The first and foremost concern would be to arrange money for the business. I may take loans from the banks and also invest in some of my family assets and personal properties if I still lack money. Secondly, it would be quite difficult to identify the perfect location because a lot of restaurant stores are already present in every location. This would increase the chances of competition for my business. I can solve this problem by providing the customers with exclusive and continental dishes apart from only offering them the native ones. Third, the consumer preference and demand in this market are highly dynamic. Hence, I need to constantly upgrade myself with the latest trends and meals that are enjoyed by the customers. The fourth challenge would be regarding constant technological advancements and changes. Hence I again need to update myself regularly with the latest technological trends and applications. I may implement an automated kitchen and chimney, which would greatly impress the employees to join my business along with the customers.
EthicsI would take the first advice from my paternal grandfather because he has previous experience in handling restaurants for his own business. The second piece of advice I would take from my mother, who has great cooking ideas and abilities. I would treat all my staff equally and conduct my business with legal validity and authority. I would encourage preparing healthy and quality food to preserve consumer rights as well.
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