The Effectuation Model Of The New Fast Food Restaurant In London

4325 Words 18 Pages
Register to read the introduction… Entrepreneur collets all the means and start the business according to the effectuation model. Most of the entrepreneur uses the effectuation model in order to survive in the market. Business are struggling due to the globalization and branding due to its existence, in this situation the entrepreneur start their business with the effectuation model.

Task 2

New fast food restaurant in London
1 Introduction:
The fast food restaurant is very famous in London. These days we can see much new company interest in Fast Food Company. Every day we hear a new idea, innovation, product lunch in this industry. In another words it can be say as a street food. London is one of the busiest cities in the world. Therefore there is a possible profit in this industry. London is highly populated where the demand of fast food in very high. This means fast-food industry in London is developing rapidly.
2. Business description
2.1 Overview
The new restaurant will be superior which will be full service restaurant that include breakfast, lunch and dinner. This will also include a separate bar for walk in where the customer can enjoy only drinks. This might include following * Different menu( food and drinks) * Variety of
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Management Summary
The success of the restaurant will depend on the strength of the management staff. We want our management team to be very professional in all area of the business. We want our management team to have good experience in hospitality. As this is a new restaurant so we have no advisory board.
9.1 Personnel plan
Personal is very important and should be in very good proportion according to the size of the restaurant. In restaurant we want 15 full time and 8 part time staff who will be working in the average of 750 hours and generates monthly gross pay of £20,190 in first year. According to the figure the annual pay will be £242,280. This amount does not include the service charge and the tip. Well experience bar staff and waiter/ waitress will be getting more that the salary with service charge and tips.
9.2 Kitchen
The restaurant head chef will be assisted by * Commis Chef * Sou chef *

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