The Punjabi Rasoi Fast Food Chain India Marketing Essay Introduction to Entrepreneurship There is not a commonly accepted

definition of entrepreneurship or entrepreneur and there are different understandings of the phenomenon. One definition is that entrepreneurship is a phenomenon in the economy by which individuals or companie s assume risks to create something new in order to reap the benefits from the ne w venture An entrepreneur may be defined as the owner or manager of an enterprise, its exe cutive director, or a member of its managing board. Self-employed people are als o commonly considered to be entrepreneurs, but not all data sources include self -employment in their definition of entrepreneurship. Self-employment itself can be defined in multiple ways according to the different goals of various sources. For example, not all countries in the UNECE region use the standard guidelines of the International Labour Organization (ILO) for defining self-employment. The lack of a common framework for defining entrepreneurs and entrepreneurship m akes it difficult to have one internationally recognised definition. Different c ountries pursue different objectives through entrepreneurship so no single defin ition would satisfy all. The links between entrepreneurship and the objectives t hat countries pursue through entrepreneurship should be clear Entrepreneurship is an important part of the national economy. It is an importan t factor in creating and increasing employment opportunities and fuelling econom ic growth. For many years, policymakers have identified entrepreneurs as importa nt drivers for employment, innovation and economic growth Entrepreneurship is viewed as a critical activity to regenerate and sustain econ omic growth in strong economies and also as a means of boosting employment and p roductivity in deprived regions or in developing countries, as it is an importan t source of job creation, career opportunities and poverty reduction for both me n and women. According to the Global Entrepreneurship Monitor Report on Women and Entrepreneu rship regardless of country, men are more likely to be involved in entrepreneuri al activity than women. Examination of entrepreneurial behavior across the globe yields a clear picture of a gender gap in venture creation and ownership activi ty. The entrepreneurial gender gap exhibits varying dimension and characteristic s, a significant gender gap exists for both early stage entrepreneurial particip ation and established business ownership, and this gender gap is greatest in the high-income country group, regardless of type of activity. Business Plan A business plan is a formal statement of a set of business goals, the reasons wh y they are believed attainable, and the plan for reaching those goals. It may al so contain background information about the organization or team attempting to r each those goals. The business plan consists of a narrative and several financia l worksheets. The narrative template is the body of the business plan. It contai ns more than 150 questions divided into several sections. Work through the secti ons in any order that you like, except for the Executive Summary, which should b e done last. Skip any questions that do not apply to your type of business. When you are finished writing your first draft, you ll have a collection of small essa ys on the various topics of the business plan. Then you ll want to edit them into a smooth-flowing narrative. The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking abou

t your business in a systematic way. The act of planning helps you to think thin gs through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps dis astrous, mistakes later. This business plan is a model which is suitable for all types of businesses. How ever, you should modify it to suit your particular circumstances. Before you beg in, review the section titled Refining the Plan, found at the end. It suggests e mphasizing certain areas depending upon your type of business (manufacturing, re tail, service, etc.). It also has tips for fine-tuning your plan to make an effe ctive presentation to investors or bankers. If this is why you re creating your pl an, pay particular attention to your writing style. You will be judged by the qu ality and appearance of your work as well as by your ideas. Executive summary PUNJABI RASOI is an influential name for the food business in Northern India, Pu njab means combination of five waters which is a rapidly growing state in northe rn region of India. PUNJABI RASOI means the kitchen of or for punjabi s (people li ving in Punjab). Traditional food of India s every region is famous in it s own eith er it is north Indian Sarson Saag and Makki Roti or south s Idli and Dosa. Therefo re I thought there would be nothing better for a new fast food chain of traditio nal north Indian food but then to call it A Punjabi Rasoi. In the primary stage business will be started by opening one or two Punjabi Rasoi s in different citie s of Punjab region, and then in the later stage more focus will be kept on franc hising Punjabi Rasoi s in different cities. Punjabi Rasoi s will be very simple in there layout and will give a little feeling of being with punjabi traditions; fo od will be served through self service counters, like another famous fast food c hain. Essential focus be kept on the quality and taste, moreover service would b e quick. If successful, Punjabi Rasoi one day will represent fast food in Indian way around the globe. Company Summary Punjabi Rasoi is going to be a fast food chain, which will provide traditional n orth Indian food, but in totally different environment and new way. It will focu s only on few food items like parantha s, lassi, samosa, kachori etc, because it s a fast food which should not be mixed with a restaurant. While the world is takin g to fast foods, Indian are also getting involved in same type of life style not only in metro s but also in small towns, McDonald s and KFC can be found in almost every city these days. People living in middle class love to eat there as they p rovide quick and cheap service, burgers and wraps in the regional preferred tast e. A North Indian fast food is a new concept as people still love to eat traditi onal food, the problem is when burgers and French fries are easily available the re are no Indian fast foods to be found, only restaurants in there name, which a re a bit to expensive and needs a special occasion to spend time there as they g enerally take time to prepare and present food. Punjabi Rasoi s will be located i n a market place or shopping malls. Punjabi Rasoi is going to be a bit of fusion mixing old and new, traditional food in the new and fast way. This is a new con cept and will create enough generosity among the people to come and have an expe rience. Aims and Objectives For any business, its most important to form a strategy and the strategy must be such that it may well address the customer needs and preferences, especially in a food related business which is deeply connected to the customer preference. S o, I have come up with certain marketing objectives: Quality food products meeting the customers taste and preferences

Creative and distinctive offerings Being environment friendly and customer focused Use of E-Marketing as a marketing tool to expand Rapid attention to food market Consistent focus on increasing awareness among the people Continuous improvement in quality And the Aims of this business would be to earn a big market share in the fast fo od industry. Punjabi Rasoi will be first introduced in the major cities of Punja b region in north India along side McDonald s and KFC s in market places or Mall s, wh ere it would be easy to attract the attention of the people as couple of thousan ds of people walk in and out of such places everyday in India(The Tribune, Decem ber 24, 2005). Initially, the business will be started by opening two Punjabi Ra soi s in different city s and before opening a it, adverts will be telecasted and p ublished in daily newspapers, to increase generosity and excitement among the pe ople, this will also help bring customers to the venue as they already know what they are going for but little unknown, which they will experience in Punjabi Ra soi. Moreover by this time Punjabi Rasoi will also set a webpage to maintain its brand image and also to give updates and maintain a link with its loyal custome rs outside. The second step would be opening new fast foods in the same region a nd then taking a bigger step and giving franchises to open Punjabi Rasoi in the major cities at different regions of India, moreover by this stage Punjabi Rasoi will provide the regional cuisines in accordance to the region where its situat ed with same old formula of being a fast food. This is how Punjabi Rasoi is plan ned to grow, and if everything went the way it is planned Punjabi Rasoi will the n start expanding its route to different parts of the globe, bringing a whole lo t of new experience, in different countries Punjabi Rasoi will definitely be kno wn for Indian cuisines but it will also tend to provide some that countries trad itional food, join it with cultural roots of that country which would help it ad dress customers in a better way. Vision and Mision Punjabi Rasoi will be a new start in fast food business; though, our services wo uld be different to other fast food chains but the practices in delivering those services will be same, with extra focus on providing better services than other food chains. Moreover with every changing season Punjabi Rasoi will introduce s omething new to keep the excitement alive among the customers. All though the as pirations in bringing up a new business can never be summed in few words, but vi sion and mission are very important for any organization to formulate a successf ul strategy to achieve those aspirations. Punjabi Rasoi s vision and mission VISION: Punjabi Rasoi s vision is to become a best fast food chain and to represe nt North Indian cuisines first in India and then at bigger ground around the wor ld. MISSION: Punjabi Rasoi s mission will be to create a new genre in the fast food i ndustry by bringing traditional North Indian cuisines and to produce the custome r oriented experience through superb quality and focused approach towards better service to its customers. Market Analysis The fast food industry in India is at its boom, with all the big players in the

market, the industry is said to be growing with an enormous pace of 40%(The New York Times, April 29, 2003). McDonald s the worlds largest fast food chain fast op ened its out let at Basant Lok, Vasant Vihar, New Delhi in Oct,1996 since then i ts been more then a decade and now there are about 132 McDonald Outlets around I ndia and employees around 5000 people (McDonald India,2008). KFC a chicken resta urant company owned by Yum! Brand intends to reach to a total of 100 outlets by 2010(Business Review, March 6,2008). Another Big chain Pizza Hut again owned by Yum! Brand, which is also the worlds largest pizza chain has about 139 outlets i n India in all the major cities(Pizza Hut India, 2008). All these major fast foo d chains been rushing to India and in the last decade with many more newly comin g to penetrate the market, is just because of the potential fast food customers. India is expected to have more then 100,000 potential customers. Moreover peopl es earning do reflects there spending power and how much can they spend in eatin g at such fast foods. The report recorded a big rise in the number of rich house holds, those with incomes of 1 million rupees to 5 million rupees, in smaller ci ties like Vadodara, Nagpur, Ahmedabad and Vijayawada. And while in 1995 just 2.8 percent of households were counted as middle class, with income of 200,000 rupe es to a million rupees, the report projected that 12.8 percent would be counted as such by 2009( The New York Times, January 4, 2005). As India opened its door to globalization in last decade, has brought a great change in the way people us e to think and reflect, also in there buying behavior. Desire to improve lifesty le has resulted in changing consumption patterns, which in turn has led to an in creased demand for processed and ready-to-eat food(I. Basu, March,2008). People in cities like Ludhiana and Chandigarh, said Arun Arora, president of the Bennet t, Coleman & Company, "are just as likely to be the first to drive the latest-mo del foreign cars and gear up in the most expensive clothes and accessories"( The New York Times, January 4, 2005). And there eating habits are also changing, wh ich drew all the big fast food giants to India, ''As the saying goes, if you are not manufacturing in China or selling in India, you are as good as finished,'' (The New York Times, April 29, 2003). The Indian fast-food industry is estimated to be only $135 million, but with over 300 million Indians hankering to follow the lifestyles of the Western world, the sky is the limit for this sector (I. Ba su, March,2008). Through this we can judge the potential lies in Indian fast foo d industry. Moreover in all these fast food chains there is nothing that can tru ly combine the people with there traditional food. Many Indians do prefer the tr aditional Indian cuisines. Besides Punjabi Rasoi is relatively a new a concept t o the market and there is yet time for such fast food outlet or chain. This coul d be a real opportunity for Punjabi Rasoi to establish it self. Strengths and Weaknesses The fast food business is growing day by day in India and seeks something new, a nd if that something will be provided with the sense of the native culture, ther e are more chance that might click. As all these issues brought in mind lots of opportunities for Punjabi Rasoi in this segment but still there are some weaknes ses that being new and being at much smaller beginning Punjabi Rasoi might have. Strengths: Punjabi Rasoi is relatively a new concept and the major strong point for opening it would the low amount of initial capital investment, which can be taken in account more aggressively in the later stages of development. Another m ajor thing that can help Punjabi Rasoi coming to its forefront in performance wo uld its fusion mix, western in functioning and native at food and in it sole res pect. This aspect will also make it the only of its kind fast food. Punjabi Raso i will focus on penetrating the market by providing certain common but famous No rth Indian cuisines, and the food material used in those cuisines is easily acce ssible and would cost much cheaper being in abundance, which will benefit Punjab i Rasoi to increase its profit margins. Other, strength can be counted as the he alth prospect as the North Indian traditional cuisines will be healthier in resp ect to its western or another fast food counterparts. Punjabi Rasoi will be a an Indian fast food and will provide North Indian food item, which will help retai

ning those sIndian customers who are against westernization of Indian society, b esides those who simple don t like eating burgers and pizza s. Weaknesses: Indian fast food industry is at boom, and many new players are enter ing in the market, with big fast food chains Like McDonalds, KFC , Pizza Hut etc already existing in the market and making their position even more firm, will m ake it difficult for Punjabi Rasoi to succeed this venture. Such fast food chain s are very aggressive regarding there marketing strategy, moreover they have inv estment of billions of Rupees which makes Punjabi Rasoi a tiny fish in the fast food business, which will make it very tuff to survive. It s a new concept and peo ple might refuse it being ignorant of what it is in really aspects. But again th e biggest challenge would be being in a very competitive market place. Customers and Suppliers In any business customers and suppliers play a role of the most important stakeh olders. So, special interest is needed to be vested in them. Punjabi Rasoi s stra tegy will put essential emphasis on the customers in creating value and customer oriented experience. Besides suppliers will be given preference so that long te rm relations can be built with them for better performance in the future. Customers: Although Punjabi Rasoi will be welcoming everyone to experience it, b ut the market segment which will be its major target will be lower and upper mid dle class customers, young or old, most preferably youngsters. There are 100 mil lion 17-21 years old in India, and six out of ten households have a child that w as born in the post-liberalization era and has grown up with no guilt of consump tion (Y. Upadhyay, et.al, April-June 2007). Its main target would be capturing t he young hearts of the country, and will focus on especially children, and young sters, beside it will surely attract the customers who are innovative and seeks difference with its new concept. Exploratory customers would be welcomed as they can find a new meaning and way of eating in this changing lifestyle. Obviously customers those have interests in tradition and who want to some how stay connec ted to there roots, well be our customers who will approach Punjabi Rasoi seekin g originality through distinctive means. Most essentially Punjabi Rasoi s strateg y will deeply focus on building warm family like atmosphere, so that the custome rs can be brought back again. Suppliers: Our suppliers will be choused after a market review, they could be on e of the local suppliers or big supermarkets like Reliance Fresh and Subhiksha c an also be approached, only those who will provide the best quality as no compro mise will be made with the quality of raw material will be choused, besides they should also be consistent in maintaining such quality standards. Our main suppl iers will be providing us with essential food material required to prepare the c uisines. After them those supplier who will be providing us with the necessary i tems like packaging material, paper bags, disposable cups, tissues etc and other required material to carry out the fast food process. Special relations would b e made with the suppliers as far as possible keep things move swiftly which will be very necessary for the growth. Time to time they will also be given special offers so that a stronger bond can be generated among them and Punjabi Rasoi. Marketing Strategy Being considering the fact that the market is highly competitive in such sense o f business, the marketing strategy will play the key role in success, fast food chains like McDonalds and KFC are very aggressive in there marketing strategy wi th spending of millions of rupees on television adverts and newspapers, being a new entrant and because of limited funds such an aggressive strategy will not be possible at the initial stage. The strategy followed by Punjabi Rasoi will defi nitely include advertisements in television but at a very low scale, newspaper w ill definitely play a significant role. By the strategy such advertisements will

actually be started at least 2 weeks prior to the opening of the outlet, also i n the few first adverts it will be mainly the display of the fast food name Punja bi Rasoi , with little knowledge of what it actually is, which will raise a questi on in everybody s mind regarding Punjabi Rasoi and also the word will hit the soci ety and develop as a brand. Banners will also be placed at different location in the city. After few such adverts Punjabi Rasoi will reveal its presence through an advertisement with the opening date, venue and promotional voucher in a news paper, with this an article on the fast food will also be printed in the main ne wspapers to get the attention of the people. Once the outlet is established Punj abi Rasoi will ease its efforts in advertising in newspapers and will focus on t he city colleges and schools this is where it will get its potential customers f or present and future. College students will be brought to the Punjabi Rasoi by organizing programs in which they can take part. Winners will be given vouchers and free meals which will again bring them back to Punjabi Rasoi. In schools cam paigns will be done and bringing it to the notice of children, moreover pamphlet s will be distributed providing a meal deal with a gift, also an association wil l be built dith the garment outlets to promote Punjabi Rasoi, in such associatio n such outlets will deliver pamphlets containing information regarding food and updates regarding the outlet and few vouchers, in exchange Punjabi Rasoi will pr omote such retail stores, to the people visiting Punjabi Rasoi. Once the brand i s established in the sector, outlets will be opened in the near city s focusing sa me and more persuasive strategy. Such strategy will differentiate it from the ex isting players in the market, no doubt they can make there mark with more aggres sive response, but still Punjabi Rasoi will get some time to make its presence f elt. The new outlets will be opened through franchising bringing in more revenue and texturing Punjabi Rasoi into a fast food chain. Location plays a significan t role therefore Punjabi Rasoi will consider location convenient to people, the following would be looked to support our business: home, shopping, work, enterta inment, education and transit points such as stations or bus depots. Theme of th e outlets will be kept almost same in different city s making it a one organizatio n and further strengthening its brand value. As the Punjabi Rasoi moves at in ot her regions certain changes to the food will be made keeping the vitals of the r egion in mind, but also it will provide its basic north Indian cuisines, how so ever only the common and the most preferred one s will be provided, by this time P unjabi Rasoi will be a full flagged fast food chain and it will take several yea r to reach such stage, assuming everything will go smoothly. This is how Punjabi Rasoi will establish it in the market. Premises and Equipment Needs At the initial stage the premises will be as big as generally fast foods are, in the later stages how so ever they can be even bigger. The first outlet will be minimum of 2,500 3,000 square feet carpet area on the ground floor with a clear height of 11 feet and a frontage of at least 35 to 40 feet. This will provide al l the essential spacing required. The equipment will include 2 six burner ovens, two electric grills, twin pan gas fryer, two commercial refrigerators, potato p eeler, two bar blenders, trolleys, washing machine and tumble dryer, chef utensi ls, two cash registers, two computers for its support and networking. This is th e main equipment needed for the fast food how so ever there will lot more which will be placed during the formulation of the plan. Team Management To formulate Punjabi Rasoi s strategy it will require couple of people at outlet and off outlet, first of all a manager would be placed who will keep a check on the working of the employees and will be responsible for the functioning of the fast food and will maintain track of things. At least four persons will be neede d in the kitchen to prepare food stuff and two will maintain the till and will d eliver orders at the counter one person will be there to assist them and one per son will be kept to maintain cleanliness in the outlet, so altogether there will

be 9 people working in the outlet. Besides a team of 5 people will be made for marketing process, one among them will be the team leader. All together at the b egin Punjabi Rasoi will require about 10 to 15 people to carry out the whole pro cess. Financial Summary The financial summary will put a highlight on the funds required and the breakev en point in the first year. The premises will be acquired on lease. The initial funding will be done by the combination of owner investment, funds from the fami ly, and bank loan. The chart show the funding and break even point. This is just a highlight to get an idea of what it will take to open Punjabi Rasoi fast food chain. Fixed and Variable Assets Expenses per year ( in Rupees) Legal 60,000 Stationery 15,000 Insurance 90,000 Outlet design 950,000 Lease 200,000 Promotional Activities 500,000 Equipment 750,000 Employees 150,000 Bills 75,000 Loan Payments 150,000 Miscellaneous 200,000 Total start up expenses 3,160,000 Investment Owner 1,000,000 Family 1,500,000 Bank loan 1,500,000 Total Investment 4,000,000 Loss at start-up 3,160,000 Total capital 840,000 Total capital and liabilities 4,000,000 Break-even

Expected sales 6,200,000 Approximate % 33%