Mobile Van Restaurant Company Analysis Coursework

Mobile Van Restaurant Company Analysis - Coursework Example The name of the mobile van restaurant suggested is Fastbite Inc. and the target group of our business would be the executives who belong to the white and the blue collar working class. The van would operate from 6 am in the morning to 10 pm and we will sell breakfast such as raffles near Singapore MRT station car park or central of Singapore. However, in the afternoon during 11 to 2 pm, we will sell lunch in areas such as Tuas, Loyang Way or Woodand while after 2-5pm, we will deliver orders to our customers. Mobile van restaurants were more commonly found in Somerset MRT and East Coast Park but there are many other areas where can be covered by us. Besides serving the areas where factories are located, we will also sell food in deserted areas because this is the place where food is not available and it is also easy to locate vans in these areas since they are movable. Therefore, we will also sell food in boon lay area forest which is the place where the soldiers are trained. Since no thing is available for the soldiers to eat, they will buy the food we will offer them so the risk will be low. However, in the cities there are many other restaurants and options available to the customers which would make it difficult for us to attract the customers. The population of Singapore is 4,740,737 and 77% of the population falls in the age group of 15 to 64 years of age. Singapore has a 92.5% of literacy rate and unemployment rate of 2.1% which means that most of the population is employed which means that none of the individual living in Singapore lives below poverty line and even the rate of inflation is just 2.8%.1 Business Operation and management We will sell ready packed food which will be prepared from a home based kitchen and the mobile van will be used for selling purpose only. We will require both physical and human capital which will be our key resources to operate the business. For the van, we will hire two individuals while for the kitchen, we will hire three people to cook, pack and receive orders. For the need of physical capital we will buy a van. Convenience is the main benefit that we aim to give to our customers which will also be our competitive edge. We did a break even analysis which showed that our business idea would work well. The Industry Data that we collected gave us all the information about mobile van restaurants and some of the possible risks include the external factors such as changes in any government policies or weather changes and to meet these, we will have a backup plan. Business features, functionality and benefits Some of the business features includes convenience we provide to our customers along with nutritious and well packed warm food. Our business would operate mainly on a mobile van on which we will sell our food items. Although we have competition around, we will develop product differentiation on the basis of branding, service and location. Our business will operate in monopolistic competition which me ans an imperfect competition in which the products are substitutes but will be sold by the competitors will only be differentiated on the basis of branding and service. For this, we conducted market analysis to know more about the industry and competition. Branding Fastbite Inc. is our suggested name which would include pastries, sandwiches and minced noodles while we will sell barbecue including sea food and chicken wings, beef noddle and Kway Teow, chicken noddles and rice, curry