BSBSMB404 - Undertake Small Business Planning

Assessment Task 2
Contents
Contents 1

Introduction of Business: 3

Vision Statement: 3

Mission Statement: 3

SMART GOALS: 3

Market needs, and market size and potential 3

Locations where I am going to operate my business: 3

The types of services relevant to the demographic: 3

Sources and costs of finance, forming a financial plan, to provide required liquidity and profitability
for the business including the following: 4

Lease or owning the property 4

Costs, for electricity, water etc. 4

Products you may sell 5

Services you will be providing e.g.: Price/ Treatment List 5

Costs of products/ supplies and or equipment for setting up 5

Monthly stock order list 5

Staffing requirements to effectively produce or deliver products and services 6

Staff costs will you be a sole owner-operator or employ staff 6

Cost of Uniform: 6

Development and Training Cost: 6

Methods or means of production or operation from production or operations plan to conform to

business goals and objectives: 6

Operating hours/days or appointment only. 6

Policies and Procedures of your business that will reflect your mission statement and image 6

Sales techniques/goals 7

Resources, legal and compliance requirements, following business goals and objectives concerning
Work health and safety (WHS) (Health guidelines for personal care and body art industries): 7

Registrations, licenses and permits you need for your business 7

 Environmental issues 8

Equal employment opportunity 8

Industrial relations 8

Specialist services and sources of advice are required when operating a small business. The function
of each of the following advisories and approximate costs: 8

Solicitors: 9

Accountants: 9

Bookkeeper: 9

Associations: 10

Government Departments: 10

Technology/Software: POS $: 10

Anti-discrimination 11

References 12
Introduction of Business:
The business taken for this particular assignment is "The CharGrill Masters" which was
established in 2007 in order, to provide its customers with the best foods and services in
Australia (The CharGrill Masters, 2020). The CharGrill Masters has been a family-owned
and operated Australian barbecue business in Cr Alexander Grand Promenade. Ever since the
business has been their exclusive concern, and they have dedicated their entire life to
delivering customers with the cuisine and experiences that they deserve.

Vision Statement:
"The CharGrill Masters" has a very unique vision that has contributed towards the benefits of
the communities. The brand is built on giving. They never try to save money by cutting
compromises, and they constantly put excellence first. If they receive an ingredient that does
not meet their criteria, they do not use it (The CharGrill Masters, 2020). The business owners
have worked incredibly hard for a broader goal of delivering delight to their clients and
providing a space for individuals to enjoy life's special events.

Mission Statement:
The primary mission of "The CharGrill Masters" is to provide the best cuisine possible by
obtaining regional, unadulterated ingredients while offering well to the communities in which
they serve (The CharGrill Masters, 2020).

SMART GOALS:
Every business tends to develop SMART goals to fulfil its financial and non-financial
objectives, along with the mission and vision of the business (Ogbeiwi, 2017). SMART goals
for "The CharGrill Masters" include:
● Specific - To increase the annual revenue of the business by 50%.
● Measurable - The revenue should be approximately $350,000 annually.
● Attainable - To attain the goal, a small percentage increase must be achieved every
month (Ogbeiwi, 2017). For example, the employees will be given a target of 20%
first in 4 months, then 20% plus 20% in the next 5 months and the rest target has to be
fulfilled in the remaining months to achieve a 50% increase in sales revenue.
 ● Relevant - The goal is relevant to the business vision and mission that is to provide
the best quality food to the customers and provide them with a space to celebrate as
well.
● Time-Bound - The specific goal has to be achieved within 1 year.

Market needs, and market size and potential

Locations where I am going to operate my business:
● “Dianella Plaza Location - Corner of Alexander Drive and Grand Promenade Centro
Dianella” (The CharGrill Masters, 2020), and
● “Ellenbrook Location - 12 Commercial Rd, Ellenbrook, Australia.”
The business will also utilise more such customer-centric locations to expand the business in
the future.
The types of services relevant to the demographic:
The demographic in the locations of the business include mainly office goers and students,
tourists, belonging to the age group of 18 to 50 years. Thus, the services that are relevant to
this kind of demographic are fast dining options, and take-away. Also, the dining options will
include “plate service”, “cart service”, “buffet service” and lastly, “family style service”
(Webcontactus.com, 2021) to fulfil the needs and expectations of the customers.

Sources and costs of finance, forming a financial plan, to provide

required liquidity and profitability for the business including the
following:
Lease or owning the property

To open a business, it is necessary to evaluate the required funds and the sources which
would provide easy liquidity and profitability for the business. In this case, "The CharGrill
Masters" should lease the property for opening a restaurant instead of buying the place. It will
provide the business with the opportunity to invest more money in advertisement and
promotion along with maintaining the quality of the ingredients to build up a better customer
base (AllBusiness, 2021). Purchasing the property is a long-term commitment with long-term
liability. In Australia leasing, space is much more viable as it only requires an average cost of
$280,000 approximately, whereas purchasing a space would cost around $450,000
approximately (AllBusiness, 2021) which is almost double the lease cost.
Costs, for electricity, water etc.

Particulars Cost/Month (Approximate)

1. Water $30 - $50

2. Electricity $100 - $200

3. Gas $100 - $200

Total $250 - $450

Product Details:
Products you may sell
The food items will be categorised under:
● Lamb&Chicken
● Family&Kids
● All-Star items (The CharGrill Masters, 2020)
● Burger Bar
● Side dishes&Salads
● Desserts&Shakes
Services you will be providing e.g.: Price/ Treatment List

Both delivery and take out services will be provided to the customers. The price of the food
items will be kept reasonable. The basic meal will cost approximately 22 to 25 Australian
dollars, whereas family means or family combos will cost around 35 Australian dollars.
Again, value for money meals will cost approximately 10 to 12 Australian dollars. However,
for food delivery, a minimal delivery cost will be charged.
Costs of products/ supplies and or equipment for set up

Particulars Cost (Approximate)

1. Raw ingredients $50

2. Equipment $500 - $800

3. Furniture $200
 4. Other supplies $200

Total $1000 - $1200

Monthly stock order list

Items Cost/Month (Approximate)

● Meat $600

● Dairy $400

● Produce $250

● Eggs $200

● Dry goods $200

● Beverages $100

Total $1750 - $1800

Staffing requirements to effectively produce or deliver products and

services
Staff costs will you be a sole owner-operator or employ staff

Staff Number Salary/year (Approximately)

1. Finance Manager 01 $100,000

2. Restaurant Manager 01 $80,000

3. Head Chef 01 $120,000

4. Assistant Chef 03 $100,000 *3 = 300,000

5. Commis 03 $30,000*3 = 90,000

Total 11 $690,000
Cost of Uniform: The cost of the uniform will be approximately 500 Australian
Dollars.
Development and Training Cost: The employees and staff will be provided with
effective training and developments which will cost approximately $1200 to $1500.

Methods or means of production or operation from production or

operations plan to conform to business goals and objectives:
Operating hours/days or appointments only.
The operating hours for "The CharGrill Masters" are from morning 10 am till evening 7pm.
Further, it is open 7 days a week. If in case any individual is willing to book their orders after
7 pm or else book their seats after closing time, they would need to take special
appointments.

Policies and Procedures of your business that will reflect your mission statement and
image
Consumer Policy: The business aims to provide the consumers with the best cuisines as well
as business owners work incredibly to satisfy each and every demand of the consumer.
Organisational Policy: The business will promote diversity and inclusion policy as well as
practices among the employees and staff.
Employment Policy: The business provides effective training to their employees to get
enhanced outcomes by placing non-discriminatory grounds and equal employment
opportunities for the staff.

Sales techniques/goals
To establish a larger consumer base the business keeps investing more money in advertising
and marketing while also preserving the quality of the components. They even sometimes go
towards the promotion of the hotel's cuisines and delicacies through pamphlets and social
media intervention.
Resources, legal and compliance requirements, following business
goals and objectives concerning Work health and safety (WHS)
(Health guidelines for personal care and body art industries):
● Registrations, licenses and permits you need for your business

Registration required for business is Australian Business Number (ABN). For all commercial
transactions with the "Australian Taxation Office" and other governmental offices and
bodies, a unified identity is used which is known as ABN (‌Business.gov.au, 2021). The
business will also require a "food business licence" along with the Australian Company
Numbers (ACN). The permits required for this particular business include a certificate of
occupancy, a food handler's permit, and a food service license.
● Environmental issues
Several practices that take place at restaurants have the possibility of raising environmental
contamination. Food waste is among these operations, as reported by the Environmental
Protection Agency (EPA), that results in dumps and waste incineration, impacting regional
quality of air and water (Beacon Hill Associates, 2019). However, "The CharGrill Masters”
will focus on implementing sustainable waste disposal methods and will also implement lean
procedures to minimise the amount of wastage.
● Equal employment opportunity
The business will also provide equal employment opportunities by maintaining an equal male
is to female ratio. It will also hire employees and staff from diverse backgrounds and ethnic
groups and provide them equal wages and fair treatment.
Industrial relations
Certain workplace concerns and connections are handled by Commonwealth (Australian
federal government) legislation, while others are regulated by state and regional laws or the
legal systems in Australia (Australia’s national workplace relations system, 2021). The
business industrial relations will be maintained as per the Australian federal government’s
laws such as the Industrial Relations Act.
Specialist services and sources of advice are required when operating
a small business. The function of each of the following advisories
and approximate costs:
● Solicitors: Generally, the charge varies from $110 to $220 per hour to $180 to $360
per hour. Solicitors would further help to expand the business, keeping the goals of
the organization towards ethical consideration (‌Sprintlaw, 2020). Finding the right
structure for the emerging business and registering it with various recognized
organizations are two things a business solicitor can undoubtedly assist while the
business is seen at its emerging phase. They even offer assistance with lease
agreements for commercial real estate matters.
● Accountants: The accounting rates generally range between $500-$800. Accounts can
further help a small business with bookkeeping, maintaining a cost structure for
various commercial activities (Ewm Accountants.com.au, 2017). Moreover, they can
even assist with investment planning, tax management and preparing annual financial
statements.
● Bookkeeper: A bookkeeper might generally charge $45 to $55 for each specific
charge (ICB, 2017). They help in recognising the day-to-day financial activities of a
small business, and they even make sure that alternatively all the payments of the bills
are done on time.
● Associations: Members of an association routinely exchange information, address
problems, set standards, and define guidelines for best practices in their field
(Australian Competition and Consumer Commission, 2020). Commercial behaviour
that helps firms and customers may frequently be found here, although other
behaviours may violate the Act's prohibitions on anti-competitive behaviour. Included
in this is the ability to price with their own allowances for costs and profit margins.
● Government Departments: In the view of businesses, governments ought to favour
businesses and encourage them to perform and invest even though businesses are the
main source of employment (Saylordotorg.github, 2021), advancement and markets
with existing well-being, and authorities ought to support them with financial
incentives such as grants, tax credits, and incentives.
● Technology/Software - POS (Point of Sale Software): The cost ranges between $1500
to $1800. To acquire and sell products and services, POS systems are used (DISER,
2020). For day-to-day transactions, Australian businesses rely on POS systems.
Customers want accuracy and dependability in service providers.
● Anti-discrimination: Anti-discrimination regulations must be followed to safeguard
individuals while also enabling more people to have a fair shot at achieving business
success (Chrisos, 2019). Having these rules in place may help safeguard the growing
business against the harm that can be done to it by prejudice in the workplace.
References
AllBusiness. (2021). Should You Buy or Lease Your Restaurant Location? AllBusiness.com.
https://www.allbusiness.com/should-you-buy-or-lease-your-restaurant-location-4113252-
1.html
Australia’s national workplace relations system. (2021, April 13). Attorney-General’s
Department. https://www.ag.gov.au/industrial-relations/australias-national-workplace-
relations-system
Australian Competition and Consumer Commission. (2020, January 17). Industry
associations & professional services. Australian Competition and Consumer Commission.
https://www.accc.gov.au/business/industry-associations-professional-services

Beacon Hill Associates. (2019, August 5). ‌Pollution Concerns for Restaurants. Beacon Hill
Associates. https://b-h-a.com/blog/environmental-exposures-for-restaurants/

‌Business.gov.au. (2021, June). Business.gov.au. Register licences and permits.

https://business.gov.au/registrations/register-licences-and-permits

‌Chrisos, M. (2019, February 14). How Workplace Discrimination Can Affect Your Business.
Techfunnel; Techfunnel. https://www.techfunnel.com/hr-tech/how-workplace-discrimination-
can-affect-your-business/

DISER. (2020, February 4). Point of sale systems. Department of Industry, Science, Energy
and Resources; DISER. https://www.industry.gov.au/regulations-and-standards/point-of-sale-
systems

Ewmaccountants.com.au. (2017). What are the functions of accounting?

https://www.ewmaccountants.com.au/blog/what-are-the-functions-of-accounting/

ICB. (2017). ‌What is Bookkeeping. Icb.org.au.

https://www.icb.org.au/About-Bookkeepers/What-is-Bookkeeping

Ogbeiwi, O. (2017). Why written objectives need to be really SMART. British Journal of
Healthcare Management, 23(7), 324-336.
https://bradscholars.brad.ac.uk/bitstream/handle/10454/12202/SMART%20Goal%20article
%20-%20Revised%20Manuscript%20May%202017%20Final%20draft-3.pdf?
sequence=3&isAllowed=y
Saylordotorg.github. (2021). Business and Government Relations: How Do Government and
Business Interact? Github.io. https://saylordotorg.github.io/text_the-sustainable-business-
case-book/s07-02-business-and-government-relati.html

‌Sprintlaw. (2020, September 8). Legal Aspects Of Starting A Small Business.

https://staging.sprintlaw.com.au/legal-aspects-of-starting-a-small-business/

The CharGrill Masters (2020). | We Are the House for Those Who Crave Real Tastes.
Thechargrillmasters.com.au. https://www.thechargrillmasters.com.au/disclaimer.html
Webcontactus.com. (2021). Types Of Service In Restaurant | Contact Information Finder.
https://www.webcontactus.com/types-of-service-in-restaurant/