Business Premises

Question: What should be the business premises? Explain. Answer: Management ownership Names of owners: Mr. Edward JohnDetails of management ownership: Owner Mr. Edward John would be the Chief Executive Officer of the shop Poke-Burger Club. The owner would be the administrative panel for managing all the operations of the shop. The shop is under the sole ownership of Mr. Edward John. Hence, there is no option for any partnership agreement. However, the shop owner can bring in any investor or sponsor for the shop. In that situation, a proper agreement for the investment activity would be required for legalization of the investment.Experience: The business owner has a past experience of running another small restaurant at Greenfield Park of Sydney. The owner had an experience of managing the restaurant for three years. The owner used to work as a manger for two different restaurants in Greenfield and Harbour Bridge. Mr. John had successfully managed and administered the previous two restaurants and saved considerable amount of money. With the saved money the owner had o pened this new Poke-Burger Club by himself. Recruitment options Internet is the best option for advertising about the recruitment for the shop. There are 3 types of recruitment procedure Direct, Indirect and third party. The direct recruitment procedure is by far the most suitable way in which the owner would take the interview of each of the candidate separately. Training programs Since all the staffs recruited are experienced, there would be no need for training. However, if any new strategy or system is introduced in the shop, proper training and acquaintance with the strategy would be provided to the staffs. Skill Retention Strategies Compliance documentation is the best way for the procedural for retaining the skill of the working staffs. Line managers can develop strategies like Employee of the week or Best performer for motivating the employees to perform better. The responsibilities of the staffs are divided appropriately. The front manager is responsible for all the documentation and communicating with the staffs. Streamlining the operations could be used for making sure that all staff skill is appropriate for the business. Market position: The wide difference in the price of products is beneficial for attracting all class of people. The products are budgeted to the expectations of people. The prices are set lower by 5-10 cents from most of the competitors. Hence, it would be beneficial for the business of the shop. Analysing the business on these questions can yield the current market position of the burger shop. Unique selling position: Location of the shop favours the selling of the burgers. Being located near to Sydney Olympic park, the shops would receive inflow of visitors. Such positions are really helpful for new businesses as crowded place are always helpful to increase customers and sales. The USP of the Poke-burger club is the use of Pokmon cartoon character in decoration at the shop for attracting the kids in the shop. The shop name itself contains the term Poke. Anticipated demand: Fast foods like burger always have a huge demand in markets as its quickly feels up the hungry stomach of a customer. As far as the anticipated demand is concerned an individual if he likes fast foods then he will eat 4 days in a week and which may lead to around 100 burgers in 6 months and 200 in an year. If we calculate in average then a single personal buy around 60 to 80 burgers in a time span of 6 months and 120-190 in a year. Pricing strategy: Yes, I have a pricing strategy which is $4 per burger. In todays market the com petition is always high and customers always look for best offer every day. So providing the discounted price will definitely attract most of the customers. Lower price higher sale pricing strategy would be suitable for the business operation of Burger shop.Value to customer: The customers always look for value, price and quality that we provide through our products or services. They always have better expectations towards food and its quality that any burger house provides them. They take it as necessity but some of them take it as luxury and necessity both. Growth potential: As per research it has been found out that the burger products or services will have an anticipated growth of around 91%. It has wide range of tastes and varieties which attract most of the customers and will lead to business growth by introducing some more varieties in the near future. Innovation Research development (RD)/innovation activitiesIn order to start up and run a business it is always important to keep our self updated in terms of the market and products. There are lots of research and development needs to be done in daily weekly or monthly basis to understand the market and the customers demand in the selected products. Send marketing professionals to gather as much information as they can from the market regarding the product and if required helping them with some finance will help in gathering more information. Intellectual property strategy Intellectual property strategy is defined as the key asset class of strategic planning. The Poke-Burger club can use the intellectual portfolio property for the strategy. Branding is an important feature that can be used for forbidding the duplication of the product. Copyright and ownership trademark are some of the tools that can be used for intellectual property strategy of Poke-burger club.1.9b Insurance Bibliography Aaker, D.A. and Biel, A., 2013. Brand equity advertising: advertising's role in building strong brands. Psychology Press.Adrian, T. and Shin, H.S., 2014. 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