Asian Healthy Food / Asian Restaurant Pty Ltd

2. Project background

Customers trends in the food industry are that baby boomers have less time to cook, the new millennium has less interest in cooking. Two generations are interested in various cuisines and cultures. They like convenience for purchasing, and they have awareness of health, eco-friendly and civil responsibility. (Friddle, Mangaraj & Kinsey 2001).

The World Health Organisation announced COVID-19 pandemic is outbreaking globally (World Health Organisation 2020). The Australian government has implemented 3 restrictions such as stay at home, social distancing, necessary travel and self-quarantine to help limit the spread of coronavirus (Victoria State Government 2020). Therefore, People are working at home, students are learning at home and restaurants are closed.

The COVID-19 causes Economic depression (Picton 2020). Consumers have become frugality (Vautier 2020), and they purchase products and services through online shopping. The UberEats shows a 30% increase in sign up it's App (Chiappetta 2020).

3. Project purpose

The purpose of the project is to open a restaurant for benefiting the local community by emphasizing the balance between economy, community, and environment.

Meeting customer demands convenience by providing Semi-finished packages and finished packages. Furthermore, meeting customers demands various cuisines and cultures by introducing special food, according to Chinese festivals calendar.  Moreover, Catering customers need for health by providing nutrient food. In addition, using recycled packaging for eco-friendly  Finally, taking civil responsibility to support the local community by surcharging $1AUD for each order, and donating them to Melbourne Royal Children' Hospital. To support customers are affected by COVID-19 by providing delivering services.

4. Industry overview:

(1). The changing social trends have underpinned demand for the restaurant industry over the past decade in Australia (IBISWorld 2020). According to the research, the food services market generated revenue of $79 billion in 2017 and will grow at a compound annual rate of 5.1% in 2018-2023 (Australian Food New 2020).

(2). Consumers' busy lifestyles and high workload have increased their reliance on restaurants and take-out food. Nearly two thirds of the populations over the age of fourteen eat out at least once a month. Growing demand for delivery platforms such as Uber food has boosted the industry's revenues (IBISWorld 2020).

(3). In recent years, an increasing number of consumers have begun to change their consumption patterns from fast food to healthy food (Australian Food New 2020).

According to the research, Asian food is very popular, and the Asian restaurants account for about 13% of the total number of restaurants in Australia (Mordor Intelligence 2020).

(4). Nowadays, due to the coronavirus 19, the demand for take-out food has increased sharply. People spend most of their time at home and they like to kill time by their own cooking (Connellan 2020).

Overall, through the above points, the restaurant industry in Australia has good development prospects.

5. SMART objectives:
1. Social responsibility objectives

(1)Creating about 13 jobs, and promoting the demands of delivery staff potentially.(2)Donating 20% of the profit of certain dishes to the community, so that to promote the charity career of the Australian society, especially under the situation of COVID-19 outbreak.

2. Financial objectives

(1)Reach the break-even point within 3 years. (2)Annual profit growth reached 20% from the second year. (3)From the fourth year, the annual profit reached about $150,000.

3. Operating objective

(1)Set up our restaurant in the food court of Melbourne Central before August 2020. (2)Hire about 13 employees to meet the needs of daily operating, and complete training before August 2020. (3)Take non-contact delivery mode during the period of COVID-19 outbreak, and after that, also provide customers with heating semi-finished food service.

4. Marketing objectives

(1)Provide promotions for customers in the first three months to increase brand awareness. Focus on promoting the marketing concepts of environmental protection, charity and healthy catering to expand market share and lay a foundation for the development of the brand in the first 3 years.