Topic of the assignment

Business plan

On

Fast food restaurant in Bangladesh

Course title: Entrepreneurship development

Course code: MGT314

SUBMITTED TO:
MD SHAHBUB ALAM SONY

Lecturer, Department of BBA

Sonargaon University

SUBMITTED BY
Name: Mahbuba Siddika

ID: BBA 1901016117

Home District: Mymensingh

Section: BBA 11-olympus

Semester: spring-2021

Department of BBA

Sonargaon University

Date of Submission: 08.04.2021

 Table of content

Title

introduction

Executive Summary

Company Locations and Facilities

Objectives

mission

Market analysis
Market segments

Pricing strategy
Industry strategy
Products
The Menu
Management Summary

Financial Management Plan

Projected Income Statement
conclusion

Introduction
Easily prepared processed food served in snack bars and restaurants as a quick
meal or to be taken away is called fast food. Fast food culture was started in the
early 90's.in the early 2000 KFC entered Bangladesh as the first International
brand of fast food franchise. The objectives of this study are to probe the reasons
why fast food industry is booming day by day in Bangladesh, also assuming the
future prospect of this industry and evaluate the hygienic condition of this
industry. A fast food restaurant is known as quick service restaurant offering
minimal table service. A fast-food restaurant generally offered a limited menu is
cooked in bulk on advance and kept hot when need to deliver. Depending on the
establishment, servings may be ordered from attendants of the customer.
Hangout is a local fast food restaurant in Bangladesh started in 2015.It started for
offering healthier, fresh, Custom made burger, sandwich and other food which
offered other local fast-food chain restaurant like CP, sweet and sweet, etc. The
concept of our product is delivering best food at a lower cost in Dhaka city. Our
main priority is to establish one outlet in Mymensingh Road. It’s a crowded area
and there are two University and more school and college because our main
target consumers are young generation. Letter our effort will be further
development of more retail outlets in the surrounding area At the end of the line
a cashier rings up the purchases. At some self-service cafeterias, purchases are
priced by weight, rather than by individual item. In Bangladesh fast food has
become popular with the effect of globalization. Many people, specifically the
younger generation are consuming various types of fast foods everyday as these
are convenient, time saving and tasty. Bangladeshi Consumer choice fast food
restaurant depends on particular factors i.e. quality, variation, location, price,
environment, and many more aspects.

Executive Summary

Service fast restaurant (SFR) is a privately owned fast food outlet that will be
positioned at Mymensingh Model Town in Dhaka city through our creative
approach to the company's image anddetail presentation. SFR will provide a
combination of excellent food at value pricing, with fun packaging and
atmosphere. Service Fast Restaurant is the answer to an increasing demand for
fast food, to be consumed while window shopping and walking around inside a
shopping mall. In today's highly globalized and competitive environment, it is
becoming increasingly difficult to differentiate one fast food outlet from another.
In Bangladesh, Dhaka is now becoming the model metropolis for South Asia's new
economic boom. Our main priority is to establish one outlet in acrowded mall,
preferably in one of prominent shopping malls in Mymensingh. Later, our effort
will be further development of more retail outlets in the surrounding area as well
as outside Dhaka. This plan is prepared to obtain a location for the initial launch
of this concept. Additional financing will need to be secured for the later
subsequent outlet, anticipated in year 2 or early in year three. The financing, in
addition to the capital contributions from shareholders, will allow Service Fast
Restaurant to successfully open and expand through year two. The initial capital
investment will allow SFR to provide its customers with a value-driven,
entertaining experience through the creativity of its founders.

Company Locations and Facilities:

As we mentioned earlier 

 The retail outlet will be rented atone of the target location shopping malls in
mymensingh.SFR locations will range in size from 70-80 meter square and will
seat from 20 and 30 guests. We will equip the outlet with modern furniture and
aim for cleanliness and an open feeling.

Objectives:

 To form a presence as a successful local fast food restaurant and achieve a

market share In Bangladesh’s fast food industry.
 To expand into a number of outlets by year three.

 Mission:
Our main aim is to be one of the most fruitful fast food outlets in Dhaka as well as
in Bangladesh, starting with one retail outlet located inside a major shopping mall
in mymensingh model Town.

Service Fast Restaurant (SFR) will strive to be a leading local fast food brand in the
local marketplace. We want our customers to have the total experience when
visiting our outlet(s). Our main focus will be serving high-quality food at a fair
value.

Keys to Success:

To succeed in this business we must:

 Build a unique, innovative, entertaining menu that will differentiate us from

the rest of the competitor.
 Must take certain policies that control costs at all times, in all areas and
implement conservative approach to growth policy.
 Always serve the products that are of the highest quality.
 Generate and provide service which makes customer to be 100% satisfied
and maintaining the moderate level of excellent services among other
competitors.
 Endorse good values of company culture and business philosophy.

Future Plans & long term aim:

If the business is meeting its projections by one year, we will start seeking for a
second location and develop plans for the next unit. Our five-year goal is to have
at least 2-3 outlets in the Dhaka area.

Capture fair market share in the fast-food restaurant market within5 years of
operation
Product differentiation. Introduce a Variety of local and global product and charge
premium price.

Product Description:

SFR will be offering a menu of food and beverages with a distinctive image. There
will be three ways to purchase these products; table service at the restaurant,
take-out from the restaurant, and delivery to home or office.

Products

The primary products of SFR includes following:

Burger (Beef, Chicken)

Sandwich (Chicken, Club)

Roll (Vegetable, Beef, Chicken)

Pizza (Chicken, Beef)

Chicken Fry

French fry

Noodles (Chicken, Beef, vegetables)

Fried Rice (vegetable)

Chicken Biryani

Mutton

Chicken Khichuri

Coffee (Hot, Cold, Chocolate)

Chop (Chicken, Beef)

Pastry Chocolate

Juices (Apple, Orange, Mango, Grape and several types of fruit)

Lacchi

Faluda

Sausages

Salads

Production:

Food production and assembly will take place in the kitchen of the restaurant.
Fresh vegetables, meat and dairy products will be used to crate most of the dishes
from scratch. The chef and his helpers will exercise strict standards of sanitation,
quality production, and presentation or packaging over the kitchen and service
staff.

The Menu:

The Service Fast Restaurant’s menu is moderate sized, and moderate

Low priced offering a collection of ethnic, global and local items with a common
theme Healthy (low-fat, low cholesterol, natural ingredients), flavorful, and
familiar. Our goal is to create the image of light satisfying and still nutritious food.
Market Analysis

A much broader appeal exists for weekend slots because those are the days when
most of our core target market enjoys the mall going activities.

Age - Youngsters, University student, single, currently enrolled in college and high
school.

Family unit - We will also appeal to families with children.

Gender - We will target both male and female

Income - We will appeal to the medium income individuals and to all in the lower
medium income bracket people. Recently we have conducted a public survey of
people 15 - 45 years old, 80% of those interviewed like fast food. 90% of them like
fast food on a continuous basis, and 10% of them claimed that they like fast food
"very much”.

Market Segmentation

We are Segment our market by:

 Geographically: (Mymensingh)
 Demographically: Age (6-11, 12-19-20-34, 35-49, 50-64, 65+) Gender (male,
female) family size, Income, occupation, Religion.
 Psychographic (social class, lifestyle, personality)
 Behavioral (occasions, benefits, loyalty status)

Target Market Segment Strategy:

Our fast food items intends to young and university students. We have chosen
this group for several important reasons. It is our goal to be "the extraordinary
fast food place" and we believe that the age group from 15 to 34 is the primary
age where brand building efforts could take place. Our secondary target is
between the ages of 35 and 39, which are a heavy lounge/restaurant user group.
The general people who have fast food going habit as we it earlier mention it.

Market Needs

A recent Consumer Trend and Analysis by identified the following needs among
our target markets. Our core group:

1. Wants variety and flavor in its food, preferably something fried

2. Looks for speed of service
3. Enjoys eating out
4. Has an active lifestyle
5. Comes from various ethnic backgrounds
6. Wants an entertaining and fun experience
7. Insists upon a clean, friendly, and attractive environment
8. Adopts a global lifestyle
9. Understand customer need and want
10.Build strong customer relationship in order capture value from customer in
return.

Strength

SFR will be offering a menu of food and beverages with a distinctive image.

Delivery to home or office

Fastest service than other fast-food firm

Good food quality with fastest service (with in 10 minute)

Excellent service staff.

In a tangible location (Mymensingh)

Weakness
There have many well-known fast-food restaurants like KFC, PIZZA HUT, NANDOS,
BFC, and CFC.

Above these are very much cost efficient

We have no any brand reputationIt‟s difficult to

Opportunity

Our main customer is the university student of Mymensingh

It’s a huge market

We have a good location

Fast-food market is popular day by day

We serve delicious food with fair price so customer must come to our fast-food
eat the customer because some customer is brand loyal.

Main Competitors

Our main competitors in this segment are any food outlets within the 300 meter
radius along the Orchard Road, Mymensingh. In our location, there are KFC, BFC,
CFC, NANDOS and PIZZA HUT also located near our outlet.

Industry Analysis:

Bargaining Power of buyer

Although. SFR have good quality food with fastest service and the fair price.
As customers are brand loyal and highly sensitive to differentiated service, so they
can mitigate companies power. Thus, bargaining power of buyer is high.

Bargaining Power of suppliers

Bargaining power of suppliers is low because we purchase the raw material from
supplier in bulk and we are the regular customer.
Threats of entrants:

Threats of new entrants are high. Government has no strict rolls and regulation.
Firms have opportunity of strategic alliance. So threats of new entrants are high.

Threats of substitutes:

Threats of substitutes Are low because fast-food customer are not satisfy by the
other food.

Rivalry among existing competitor

There exists a moderate rivalry among competitor in this industry.

Marketing Strategy

Our strategy is based on serving our markets well. We will start our first outlet as
a "market tester" that could become a model of the expanding number of outlets
in the future. Concentration will be on maintaining quality and establishing a
strong identity in the local market.

Combination of local media and local store marketing programs will be utilized at
each location.

Local store marketing is most effective.

Then broader media will be explored.

Providing a fun and energetic environment, with unbeatable quality at an

acceptable price in a clean and friendly outlet

We will be the talk of the town.

Therefore, the execution of our concept is the most critical element of our plan.
We will actively build our brand, through the selling of supporting materials, such
as merchandise, promotional items.
Pricing Strategy

SFR pricing strategy is positioned as "standard", meaning that is the average

consumer spending for a snack or light lunch. We provide the high customer value
with the fair price. We are serving the majority of Mymensingh customers. The
customer should paid right value for tk.

Marketing Programs

We will position three different marketing tactics to increase customer

awareness. Our mainly important tactic will be "word-of-mouth" and in-store
marketing. This will be by extreme the cheapest and most effective of our
marketing programs because of the high traffic in targeted shopping locations.

In-Store Marketing

 In-store advertising material containing our concept and philosophy.

 Wall posters.
 Design concept.
 In-store viewing of making fries process from cutting to frying.
 Outdoor signage (if possible).
 Grand opening promotion.
 Party food preparation.
 Merchandising objects

Local Store Marketing

Advertising material.

Free occasional t-shirts at local stores events.

Local Media

Direct mail part

Containing brochures sent to surrounding addresses.

Web page containing company philosophy, history and news.

Local magazines that target our interior customers, such as Free! Magazine.

Newspaper promotion placing several large ads all through the month to explain
our concept to the local area.

Positioning Statement

(SFR)‟S main focus in marketing will be to increase customer awareness in the

surrounding

Community. We will straight all of our plans and programs toward the goal of
explaining who were and what we are all about. We will price our products fairly,
keep our standards high, and

Execute the concept so that “word of.

Mouth” will be our main marketing force.

Sales Strategy

Sales strategy is to build and open new location in order to increase revenue. On
the other hand this plan will be implemented when the one "market tester"
outlet showed possible growth. As each individual location will keep on to build
its local customer base over the first three years of operation, the goal of each
store is annual sales Tk. 10000000.

Management Summary

The preliminary management team depends on us (founders themselves). Part of

our straightforward attitude will be able to run our executive management as a
"knowledge sharing “fellowship. We will not add additional overhead until
absolutely necessary. This wills also allows and future business partners to recoup
investments as quickly as possible and enjoy a higherreturn.At current time,
Service Fast Restaurant is being owned by its 4 founders. Others that have helped
on the advancement of this company will be presented with an opportunity to
grow together with the company at the proper time.
Management Team:

Service Fast Restaurant is currently the resourceful idea of its four founders. As
our company is small in nature, so it only requires a modest organizational
structure. Execution of this organization procedure appeals for all four founders
to make all key management decisions in addition to monitoring all other
business activities.

Personnel Plan

Current plan is to have our accounting and payroll functions done by an in-house
bookkeeping.Mr. X (to be appointed) -will be responsible for- accounting and
business development of Service fast restaurant, and. Y (to be appointed) - acting
Head of Human Resources Division. Other possible positions will be fixed at a later
date include marketing manager, purchasing manager, human resources, R&D
and administrative support team. Our initial employees will include:

Manager2/ location

 Cashier- 1/location

Cook -2/location

Service boy 10/location

this is considered an ideal personnel number for a food outlet the size of our
owning the long run, as we expand our product category and business outlets, we
will employ more people in the middle management to ensure the focus of our
work, including site managers.

Compensation & Incentives

Service fast Restaurant will offer competitive wages and salaries to all employees
with benefit packages available to key personnel only.
Key employee

Md. Shamed, CFO of the company also one of the owner, had worked for a local
restaurant for several years, so his knowledge and experience is valuable and we
would likely to find him as a co-owner and manage.

Web Plan Summary

The website will, of course, show visitors everything about local and global food
culture, including the history of bangle food over time. To make the website
interactive, SF will offer gift cards and promotions via the Internet, so our visitors
can print the promotional coupon in PDFformat and bring it when they visit
SFR.Besides the traditional formats of customer service hotline and in-store form,
customers can now write their comments and suggestions on our website, which
will be directed to one of our staff. So, the website itself will act as the medium
between our company and our audience.

Development Requirements

To adequately serve our audience, the front end strategy of our website should
be parallel with our business color. The front end design of our website will be
entirely trusted to Mr. Aziz. The diversity of founders' background in our company
has enabled a cost efficient development in our venture. As Mr. Shazzad and Mr.
Tariq are experts in Information Technology, the backend of our website will be
developed by these gentlemen.

Financial Overview:

The company will start operations as a partnership company, where there will be
4 partners. The financing of the company will come from equity financing and
also debt-financing. Each of the partners will contribute Tk. 1000000. An
additional loan of tk. 300, 0000 would be taken. This loan will be paid off in 5
years. Since we are a new company, we cannot rely on our goodwill to easily get a
loan. Also, we cannot offer any collateral, since we are a new company.AS a
result, the loan we will get will have a higher interest rate, than normal.
Assumptions:

There have been several assumptions that have been made, for the convenience
of budgeting and constructing the financial statements.

Tax rate is 30%

Depreciation would be calculated using the straight line method

We have used percent of sales method while calculating some of the expenses.

 No credit sales will be allowed below is the financial management plan, where
the pro forma income statement, balance sheet and cash flow statements have
been constructed. This would help us see whether the venture would be a
profitable one or not.

Projected Income Statement

In order to create the pro forma income statement, the first task is to forecast the
sales. This was done using market research and industry analysis, and it was found
that there is fair demand ashes industry is in growth stage. The expenses include
salary & wages expenses, rent, and depreciation. There are other expenses also.
Utilities include all the costs related to water, gas, electricity, and so on. One
irregular item we have in the first year is that of a large advertising expense. Since
we are new, we will start with a huge campaign, using lots of billboards, as well as
TVC ads. Although, in this industry, the weight associated for advertising is very
low, they are hardly a key success factor, still it is imperative we do it. Finally at
the end we have shown the amount of net profit that will be ploughed back into
the company for further growth, in the following years.
Projected Balance Sheet

The projected balance sheet for first year gives a very positive feedback. First year
estimated balance sheet indicates that, our net asset, the total worth, will grows o
ver the next followingyears at a very satisfactory rate. Although we are left with a
large amount of cash. But this puts us in a very good liquidity position. We will be
able to deal with situations where there will be cash needed. This is good, since
we do not have several other liquid assets. Inventory is the least liquid asset of all,
and if we look at the amount of inventory in hand each year, it is a fairly low
amount. We will try to have efficient inventory management, since we do not
have enough space, we cannot stock up on large inventory, as this also increase
warehousing costs and so on. We have some investment in money market also.
Each year, we assume that, our assets will grow, in the form of increased cash at
hand. This increase in assets is financed by the retained earnings. Depreciation of
all the assets of the company is calculated using straight-line method over the life
of the asset.
Ratio analysis
Product branding

Brand name selection

 Good brand names can greatly successive point for a product or a business. We
select our Brand name Hangout and tagline (Fast & Delicious) with very carefully.
Because, our target customers are mainly university and school going students.
On the other hand Hangout name is easy to pronounce among to the student and
they are well-known about this word, so this name can be recognized among
them. Hangout is a distinctive brand name in Mymensingh area as well as Dhaka
city Our brand name easily translate in every area in the world, people all over the
word though our market target is not worldwide but many foreigner comes to
study in NSU, IUB for graduation and Under graduation, among them Hangout can
be easily famous .Our Brand name Hangout (Fast & Delicious) are registered from
Dhaka North City Corporation and legally certified from BSTI.

Brand Sponsorship We is fast food manufacturer in Mymensingh area .So our

brand sponsorship is manufacturer brand. We have own brand name which is
Hangout (fast and delicious ) .We are manufacturing all types of fast food in our
restaurant through our special and qualify cook those are previously worked in
renowned fast food restaurant in Bangladesh. As a manufacturing brand we
selling food directly to the

Customer and we don’t have any branch, private brand, retail store without

Mymensingh branch. Managing brands As a new fast food brand in Bangladesh

we just start our business and trying to create brand

Loyalty among our targeted customer. We don’t know

what will happen in the future .But we will manage our brand name Hangout
through Advertising (when will be one of the leading fast food brand in the local
market) .We will ask our customer for their experience when they eat our food
and ask them if we have any mistake when we serve the food items. If we will
satisfy our targeted customer they will be our loyal customer and finally they will
share their experience to others about our better service.
Product pricing

Cost based

The customer’s perception of value is an important determinant of the price

charged.

The danger of using low price as a marketing tool is that the customer may feel
that quality is being compromised. Hang out is a manufacturing fast food
restaurant. As a manufacturing company our food pricing will be If we set our
price based on value then we can’t earn

Profit as our target profit level. So we decided setting price based on the costs of
producing, distributing and selling the product a fair rate that a customer can
satisfy. To run this business in future perfectly we should set price based on cost.

Government actions:

 Government actions affect our price setting. Such as 15% VAT on food.
Sometimes government set the Raw materials, as results we need to buy that raw
food from the farmers sets by government .Political unrest also affect our price.
Therefore we have to buy that product at high rate.

The market and demand:

In Mymensingh road there are some fast food outlets and there is also a Pizza
Hut. Besides, in Mymensingh road one of the largest shopping mall JAMUNA
FUTURE PARK is situated. There are many local fast food restaurants. So, the
market is

 Monopolistic

We set our price very sensitively based on market competitor.

Internal factor

Our internal factors that affects our pricing-

Organization

As a new and small food outlet, Owner of the Hangout decides what will be the
food price because this restaurant is local based and area is not so large.

Marketing strategy

As new competitor in a local market we are trying to attract new customers we

decided to low price and keep other promotional offer rather than other local fast
food restaurant but not at all product. Image of the firm: Most of the time price
setting depends on the organizational image. We are new in the market so we

Don’t have any previous image so that we can’t set high price for the customer.

Product life cycle:

 During the introductory level we charge low price for attracting customer a week
and our services will be full. When customer will order their food our waiter will
serve those items effectively. AS our outlet name is Hangout so Customer can sit
here and can enjoy food with their friend.

Transportation

We are serving our food only Mymensingh area. We kept an option for home
delivery for our residential

Area’s customer within 30 minutes through our motorbike by cash on delivery.

We did not decide home Delivery in other parts of the Dhaka city right
now. Inventory management affects customer satisfaction. We are always
maintaining food items based on customer needs. We did not make too many or
too little food in a day. We make food based on customer demand and serve
immediately when needed.
Promotion

 Target Audience We has targeted our audiences on the basis of our location.
Mymensingh is both a residential and educational area, our target audience is the
young generation, the students of schools and universities. Students always look
for a place to hang-out with their friends and our restaurant can be that place
with the offering of delicious food & good services. Communication Objective….

Well try to get the attention of our target audiences. We’ll keep our promotional
activities to our business area. First, well inform them about our restaurant. For
example through distributingLeaflets.Then, we‟llpersuade our audiences to like
our product through our promotional activities. For example, setup stalls in NSU
“Hat Bazaar” and grab “Opinion Leaders” to spread the taste of our products. So
that others may refer us. After thatwe‟ll convince our target audiences to buy our
products, make them believe that our products are good and have better or the
same quality as our competitor.

Promotion Message

 We have designed our promotion message keeping our target audiences in mind.
The promotion message of our restaurant is “Fast & Delicious”.

 We chose this message because

“Fast” always represents youth and youngsters don’t like to wait. We’re
committed to give our product &services within a short time. But, we won’t
compromise the quality of our product. We

Reassuring tasty & quality food within a very short time. So, this is why we say
“Fast & Delicious”.

 Media Our communication media is a bit of both personal and non-personal.

Among the personal communications we ll.
 use the Word of Mouth and Buzz Marketing. So, we can grab Opinion Leaders to
spread the knowledge about our restaurant and attract people to be interested in
it.Among the non-personal communications we

ll use Leaflets and create a Facebook page to communicate with the target
audiences, and to inform them about our products and services. Promotional
Budget

As we a new company we don’t want to do any experiment with our promotional

budget. So,

 Follow the Competitive Parity method, the strategies of our competitors like
Downtown Cafe, CP, and FM etc. So that, we can avoid promotion wars and
represent industry standard.

Human resources

The owner will also perform the duties of Executive Manager. The executive
manager is responsible for managing chefs and the waiters. He is also responsible
for inventory system, marketing and advertisement, cash counter and financials.
There will be two chefs working by shifts in our restaurant. For the chef position,
we are looking for someone who is experienced in Bangladeshi cooking. Three
waiters will be appointed. They will also work by shifts. All employees will be
appointed before the actual opening of the restaurant because they should be
trained before the restaurant starts. We will also appoint some part-time
employees who can work with us when necessary. We will place job
advertisements in Employment and Economic Development Offices (www.mol.fi).
We can also find the waiters from the recruitment agencies in Finland. Some
employment and recruiting agencies operating in Finland: Adecco, Barona group,
Job, Oikotie, Uranus, VMP Group, VPS Group, Monster, Sere, Staff point. In
Finland there is no fix minimum wages. However, collective agreement of
different employment sectors determines the minimum pay. Example of wages in
hotel and restaurant branch in Finland.

Restaurant website

One website will be created for the restaurant. The website will be simple, easy-
to follow and user-friendly. The restaurant website will contain information about
concept and background information of the restaurant, special offers, menu,
business hours, and contact information. The design of the website will be
outsourced from a Bangladeshi web designing company which is more cost-
efficient. The researcher has already contacted with some Finnish and
Bangladeshi web designing companies to know about the cost of web designing of
the restaurant. The author has contacted with the following companies: Netura,
Client, Kristina Polso, Tuunix, Less. Most of the Finnish companies ask 1200- 5000
Euro for designing a basic restaurant website. Whereas Bangladesh based web
designers asks much less than the Finnish web designers.

Social media

The restaurant can use social network websites like Facebook, twitter, you tube,

Instagram, Google +, LinkedIn. The restaurant can reach large numbers of people
within

a very short time and at free of cost. One Facebook page can be created to reach
more

People and keep the customers up-to-date about the happenings of the
restaurant. The

Facebook page will be created before the actual business kicks off. The Facebook
page

will be used to update about the events, post food recopies, food menus, cooking
lessons

and cooking videos.

Local store marketing

Local store marketing takes place in the area where the business is operated.
Sometimes

It is also known as neighborhood marketing or grassroots marketing. Restaurant

Brochures containing restaurant pictures, menu, prices, special offers, location

with a

Small map, contact information will be distributed to the local hotels, travel
agencies and

Offices.

Attending in the festivals

Our restaurant will attend in the festivals like Ravintolapäivä (Restaurant day),
World

Village Festival. The city of Helsinki organizes Ravintolapäivä (Restaurant day) four

Times in a year. According to Johanna Macula, professor of Food Culture,

University of

Helsinki; Restaurant Day is such an event that creates solidarity among people.
World

Village Festival is a meeting place of thousands of people which shows different

cuisines

and happenings from all around the world. It will be a great opportunity for us to
introduce

Bangladeshi food culture as well as our restaurant among the people.

FUTURE OF RESTAURANT INDUSTRY IN BD

Bangladeshi restaurant market is getting saturated day by day. The businesses are
getting more competitive and they are coming up with all new ideas in the
market. But according to the statistics, the customer segment is still on the rise
and demand is not exhausted yet. People are getting more busier, and they want
to outsource food making to the specialist, hence it is safe to say that the market
will expand a lot more in the upcoming years and there are great opportunities
for those who want to get a piece of this business.

We Bangladeshi people love to eat; it can be rephrased that – people out there
eat to live, and we live to eat. Eating out is a becoming a cultural integration of
our country gradually. Maybe we cannot predict what the future exactly holds,
but we do know that, the demand from the restaurants is still on the rise.

A STATISTICAL REPORT ON THIS BUSINESS

Khurshid Iran Chowdhury, executive director of Transom beverages ltd, says that
the fast food market is going to be huge within 2022, and they are expecting that
the market value will worth 450 cores. More to that, he says, this industry will
create huge employment opportunities in the future.

On the other hand, the whole restaurant market of Bangladesh has estimated at
BDT 4500 cores in the last year and by 2021 the restaurant sector will contribute
2.1 percent of the country’s GDP by the recent report.

LOCAL AND MULTINATIONAL BRANDS IN BANGLADESH

Due to increasing market demand, the multinational brands understood the

opportunities available for them in this country. One by one many major brands
came to Bangladesh and they are statistically doing well. Few examples can
include Dominos, Burger King, Pizza hut, KFC, Cold Stone Creamery, Kenny Rogers
Roasters, Baba Rafi, Nano’s, SBARRO, Mr.Manik and others.

The affluent class in Bangladesh travels abroad and has a fairly good idea about
the food brands out there, and that creates a natural demand for those brands in
local community. More to that, the globalization led by social media and movie
industry is a huge factor that got the local people in acquaintance with these
international brands.
Conclusion

 Hangout (fast and delicious) is not so big fast food restaurant as in the local
market. There are many renowned fast food restaurants like KFC, Pizza hut, FFC,
BFC but right now we cannot compete with them. We have shortage of capital
that’s why we can’t afford too big mass media, Promotion offer and also can’t
target other people of our country. We are new in Bangladesh so We have only
one branch because of shortage of capital. We believe we can give better service
to the customer that they can satisfy. Our wish is our restaurant we be a leading
healthy fast food restaurant by serving more delicious food and better service. If
we success in this area we will open other branch in the side of Dhaka city. He
market size for the restaurant industry in Bangladesh has been growing for quite
a few years now. It was not too long ago when there were very limited options
and people would have a hard time to find a decent budget friendly place to
socialize with others over some quality food. The days of despair are now over
and there is ever growing love for the dining out culture.

There was a prominent gap in the restaurant industry which was explored and
experimented with by only a handful number of restaurants. Over time, it has
turned out to be one of the industries with the highest potential for high profit
margins.
References

https://www.thestrategywatch.com/restaurant-industry-bangladesh/

https://www.academia.edu/9827784/New_business_Plan_of_Fastfood_Restaur
ant

https://businessdaily24.com/profitable-fast-food-shop-in-bangladesh/

https://howtostartanllc.com/business-ideas/fast-food

https://en.wikipedia.org/wiki/Fast_food_restaurant

https://www.allbusiness.com/7-tips-for-starting-a-fast-food-business-its-not-
just-fries-subs-and-pizza-anymore-14456246-1.html

https://www.upmenu.com/blog/sample-fast-food-restaurant-business-plan/

https://www.bplans.com/fast-food-restaurant-business-plan/

http://dspace.daffodilvarsity.edu.bd:8080/bitstream/handle/123456789/3469/
P13568%20%2817%25%29.pdf?sequence=1&isAllowed=y