fish and chip shop business plan examples

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How to write a business plan for your fish market.

Starting a fish market can be a great idea because it provides a steady supply of fresh seafood to local customers, while also offering a profitable business opportunity.

Additionally, it can help to support local fishing communities by providing them with a reliable market for their catch.

But, before that, you need a business plan.

A business plan is a critical first step before launching any new project, as it provides a framework to help you identify potential risks, set goals and measure progress. It is essential for determining the viability of a fish market.

In short, a good business plan will help make sure your fish market is profitable .

What must be in the business plan for a fish market? How do you define the structure? What metrics should be considered for the financial assessment? What techniques can I use to make business plan writing easier?

The article you're reading will cover all these questions and provide answers!

One last thing: it's up to you whether to start your business plan from scratch.

You can download our editable business plan for a fish market and modify it to meet your specifications.

Formulating a business plan for a fish market

Is it necessary to create a business plan for your fish market.

Yes, you should create a business plan for your fish market.

Building a solid business plan will allow you to:

• gain knowledge of the fish market
• grasp the pulse of the industry's new trends
• discover what makes a fish market profitable
• understand customers' preferences for fresh seafood varieties and quality to meet their culinary needs
• come up with a unique value proposition for your seafood market
• assess competitive positioning
• find relevant competitive advantages for your fish market
• find a business model that guarantees a return on investment
• craft and execute a well-thought-out long-term action plan
• identify and manage risks specific to a fish market, including seafood quality, supply chain management, and regulatory compliance

Our team has drafted a business plan for a fish market that is designed to make it easier for you to achieve all the elements listed.

How to organize a business plan for a fish market?

A business plan has plenty of facts, numbers, and indicators. It is important to have an orderly format for smooth reading and comprehension.

When we designed our business plan for a fish market , we ensured it was organized correctly.

You'll come across 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The first section is named "Market Opportunity".

Explore this section for comprehensive data and insights on the fish market industry, including seafood trends, sourcing practices, customer preferences, and market dynamics, guiding entrepreneurs in establishing successful and sustainable fish marketes.

The data here is always kept current; we update it biannually.

2. Project Presentation

In the "Project" section, you can present your fish market, highlighting the variety and freshness of seafood available, sustainable sourcing practices, fishmonger expertise, customer education about different fish types, filleting services, and the unique value proposition that guarantees a delightful seafood experience for your customers.

Remember to introduce yourself at the end of this section.

Discuss your experience in the seafood industry, your expertise in sourcing and offering fresh seafood products, and how you plan to provide a diverse selection of high-quality seafood to customers. Highlight your commitment to sustainability, your knowledge of different fish species, and your dedication to delivering exceptional customer service that ensures customers have access to the finest and freshest seafood at your fish market.

We prepared text in our business plan. Customize it to suit your idea.

3. Market Research

Following that, we have the "Market Research" section.

The purpose of this section is to introduce the market segments for your fish market.

It includes a competition study, outlining other fish markets in the area. Your business's unique offerings and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

In the "Strategy" section, you will find a detailed growth plan for your fish market, outlining all the necessary steps and initiatives to ensure its high profitability.

Furthermore, this section encompasses a marketing plan for a fish market, a risk management approach, and a completed Business Model Canvas.

5. Finances

In conclusion, the "Finances" section offers a detailed overview of the financial aspects and metrics of your project.

How to elaborate the Executive Summary for a fish market?

The Executive Summary is like a quick overview of the business plan of your fish market.

Keep it short and to the point, with a maximum of 2 pages. Include only the key points.

The objective of this document is to spark interest in the reader's mind about your business plan.

In the Executive Summary of your fish market, answer these questions: what products does your fish market offer? who is your target audience? are there other fish markets in the vicinity? what funding do you require?

How to do the market analysis for a fish market?

Analyzing the market for your fish market allows you to gain insights into factors such as customer preferences for fresh seafood, competition within the seafood industry, and emerging trends in sustainable fishing.

By conducting a comprehensive market study, a fish market can understand consumer demands, offer a wide variety of fresh seafood, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer base, increased sales, and a prominent position in the local seafood market.

Here is what you can expect to find in the "Market Research" section of our business plan for a fish market :

• market trends and data about the fish market industry, including seafood consumption, sustainability practices, and popular seafood varieties
• a list of potential customer segments for a fish market
• the competitor study
• the competitive advantages for a fish market

The key points of the business plan for a fish market

What's the business model of a fish market, business model of a fish market.

A fish market model revolves around selling a variety of fresh seafood products to customers. Revenue is generated through product sales, potentially offering additional services such as filleting or seafood platters.

The business model focuses on sourcing fresh and sustainable seafood, providing exceptional customer service, ensuring product quality and hygiene, effective marketing to target seafood enthusiasts, and building strong customer relationships based on trust and seafood expertise.

Success depends on maintaining relationships with fishermen or suppliers, delivering freshness and variety, fostering positive customer experiences and recommendations, and continuously adapting to customer preferences and industry trends in the seafood market.

Business model ≠ Business plan

Remember, "business plan" and "business model" are not the same thing.

A business model shows how a company operates and turns a profit.

In a business plan, you adopt the Business Model Canvas as a straightforward tool to showcase the fundamental elements of your business model.

Rest assured, we provide a Business Model Canvas in our business plan for a fish market .

How do you identify the market segments of a fish market?

Market segmentation for your fish market involves dividing your potential customers into different groups based on their seafood preferences, demographics, and culinary interests.

These categories may include factors such as seafood enthusiasts, fine dining establishments, home cooks, or customers seeking sustainable seafood options.

By segmenting your market, you can offer a variety of seafood products and services that cater to each segment's specific requirements. For example, you might provide a wide selection of fresh and exotic fish for seafood enthusiasts, offer premium and high-quality seafood options for fine dining establishments, provide convenient seafood meal kits and recipes for home cooks, or specialize in sourcing and selling sustainable seafood options for eco-conscious customers.

Market segmentation allows you to effectively target your marketing efforts, source the best seafood products, and build a loyal customer base within each customer segment by providing the seafood products and experiences that align with their preferences and values.

In the business plan for a fish market , you will find a detailed market segmentation that gives you insights into your potential customers.

How to conduct a competitor analysis for a fish market?

Without surprise, you won't be the only fish market in your market. There will be other establishments offering a variety of fresh seafood to customers.

To create a successful business plan, it's crucial to thoroughly analyze your competitors. This involves carefully identifying and studying their offer, while also evaluating their strengths and weaknesses.

Explore their weaknesses (such as inconsistent seafood quality, poor freshness control, or inadequate customer service).

Why is it crucial to notice these aspects? Because these weaknesses can impact customer satisfaction when shopping at fish markets. By addressing these points, you can offer a wide selection of fresh and high-quality seafood, provide knowledgeable staff assistance and guidance, and maintain excellent hygiene and product handling, positioning your fish market as a trusted and preferred source for seafood enthusiasts and seafood lovers.

It's what we call competitive advantages—prioritize building them to gain a competitive edge.

Here are some examples of competitive advantages for a fish store: fresh and diverse fish selection, knowledgeable staff, exceptional customer service.

How to draft a SWOT analysis for a fish store?

A SWOT analysis can help identify potential opportunities and challenges when starting a fish market.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a fish market

The strengths for a fish market

When we mention the "S" in SWOT, we mean Strengths, which are the project's positive attributes or capabilities.

For a fish market, potential strengths include a wide selection of fresh seafood, knowledgeable staff, competitive pricing, and a convenient location.

The weaknesses for a fish market

When we mention the "W," we're referring to Weaknesses, which are the weak areas or aspects of the project that need to be improved.

For a fish market, potential weaknesses include a lack of suitable storage space, limited access to fresh fish, high operational costs, and a reliance on a seasonal customer base.

The opportunities for a fish market

The letter "O" in SWOT signifies Opportunities, highlighting the favorable circumstances or chances for the project's growth.

In the case of a fish market, potential opportunities could include expanding into online sales, offering delivery services, introducing a loyalty program, and creating a restaurant.

The threats for a fish market

T stands for Threats in SWOT, representing the external factors or situations that may hinder the project's progress.

How to outline a marketing strategy for a fish store?

You need a marketing strategy in your business plan to attract customers and make sales.

A fish store can appeal to aquarium enthusiasts and pet owners by implementing a targeted marketing approach that showcases the store's diverse selection of fish species, quality aquarium supplies, and expert advice on fish care and maintenance.

Seafood lovers won't shop at your fish market without effective promotion; showcasing the freshness of the seafood, variety of options, and knowledgeable staff is crucial.

Are you implementing effective marketing strategies for your fish store? Consider offering educational content about different fish species or aquarium care on your website or social media, collaborating with local pet stores or aquarium clubs for cross-promotion, and running targeted advertising campaigns to reach fish enthusiasts and hobbyists.

It's okay to feel overwhelmed by the vast world of marketing and communication.

How to build financial projections for a fish store?

A successful business plan requires comprehensive financial data in order to accurately forecast future performance.

As part of your business planning process, you'll be required to predict the revenue for your fish market.

The presence of a relevant and credible revenue forecast is crucial to give your business plan a strong appeal to investors.

Our financial plan for a fish market is straightforward and equipped with automated checks, enabling you to validate and adjust your assumptions easily. This way, we make sure you're building solid financial projections.

It goes without saying that you should create a preliminary budget for launching your fish market. Don't overlook any expense. By the way, we've listed them all in our financial plan!

By conducting a break-even analysis, you can assess whether your fish market will be profitable or not.

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Fish And Chips Business Plan Template

Explore Options to Get a Business Plan.

Are you interested in starting your own fish and chips  Business?

Introduction

Global market size, target market, business model, competitive landscape, legal and regulatory requirements, financing options, marketing and sales strategies, operations and logistics, human resources & management, why write a business plan.

• Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
• Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
• Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
• Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
• Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
• Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
• Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
• Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
• Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
• Business plans allow you to position your brand by understanding your company’s role in the marketplace.
• Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
• Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content

• Executive Summary
• Company Overview
• Industry Analysis
• Consumer Analysis
• Competitor Analysis & Advantages
• Marketing Strategies & Plan
• Plan of Action
• Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at [email protected] . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect fish and chips business plan, fill out the form below and download our fish and chips business plan template. The template is a word document that can be edited to include information about your fish and chips business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning

Want a bespoke business plan for your fish and chips business, our expertise, fish and chips business plan template faqs, what is a business plan for a/an fish and chips business, how to customize the business plan template for a fish and chips business, what financial information should be included in a fish and chips business plan, are there industry-specific considerations in the fish and chips business plan template, how to conduct market research for a fish and chips business plan, what are the common challenges when creating a business plan for a fish and chips business, how often should i update my fish and chips business plan, can i use the business plan template for seeking funding for a fish and chips business, what legal considerations are there in a fish and chips business plan.

How to start a fish and chips shop

Written and reviewed by:.

It’s known as the British staple. Each year, we eat an estimated 382 million meals from fish and chip shops, cooking up a whopping £1.2bn according to the National Federation of Fish Fryers (NFFF).

But if you’re feeling tempted to throw your own hook into this thriving industry, there are still plenty of important things to consider. Business overheads are rising, there’s a recession looming, and, post-Brexit, supply chain issues have had major impacts on the UK fishing industry and the wider food and drink sector.

However, these challenges have also brought plenty of opportunity. The tragic closure of many SMEs has meant the availability of premises has improved, while commercial regulations have also eased. Plus, in spite of the cost of living crisis,  customers are hungrier than ever for convenient eating options.

In this guide, we’ll talk you through all this and more to give you all the information you need for setting up a fish and chip store. Our experts will give you helpful tips on everything from launching a website for your business, to choosing accounting software or a point-of-sale (POS) system.

One large portion of help and advice, coming right up….

At Startups.co.uk, we’re here to help small UK businesses to get started, grow and succeed. We have helpful resources for helping new businesses get off the ground – you can use the tool below to get started today.

What Does Your Business Need Help With?

Here’s how to run a successful fish and chip shop:

Should you start a fish and chip shop now.

• Shop location

Fish and chip shop business plan

Work out how much you might make, financing your fish and chip shop, fish and chip shop suppliers, get the right fish and chips equipment, taking payments in a fish and chip shop, comply with fish and chip industry regulations, get creative with your fish and chip shop branding, hiring fish and chip shop staff, selling a fish a chip shop.

The list of pros and cons to starting a fish and chip business now is fairly balanced.

Where are the possibilities?

There are plenty of positives on the menu.

For example, a surge in takeaways and dining has meant high street footfall is recovering steadily post-Covid, giving you a much stronger customer base to work with compared to the same period 12 months ago.

According to a recent market report by the British Takeaway Campaign, 38% of households ordered takeaway at least once a week at the height of the pandemic (and that’s just the ones that will admit to it) spending an average of £45 per month in 2020.

Many government support policies, including Business Rates Relief, are also still on offer for SMEs to take advantage of.

Where are the potential problems?

Brexit has meant the fishing industry is dealing with added costs in the supply chain as well as slower or missed deliveries. This is particularly challenging for startups to tackle if you don’t have strong supplier foundations yet.

It’s also not 100% certain whether there will be future lockdowns, which means you might be legally required to close up shop soon after setting up – naturally, this will have an expensive impact on your cash flow.

How can you combat these issues?

Luckily, the above obstacles are not impossible to navigate. New businesses can still establish themselves in today’s market – you just need to engage in careful planning and a more strategic approach.

The main thing to consider if you’re looking to open a new business now – particularly in the hospitality industry – is that you have enough cash reserves to cope with a sudden expense or increase of overheads.

If not, you may need to consider taking out a business loan to cover short-term or emergency costs.

What COVID-19 rules do fish and chip shops need to follow?

In August, all COVID-19 safety rules and regulations were fully lifted, which means that you don’t legally need to require any specific safety measures from customers or staff members if you’re planning to host events.

However, cultural changes have still taken place, including a new understanding about the spread of germs that public places can influence.

There are still some basic safety requirements that help to make your event attendees feel safe, such as:

• Spaced out seating for social distancing
• Hand sanitiser stations
• Increased cleaning and disinfecting rota
• Optional mask wearing

You could consider keeping these rules in place to help returning customers feel more at ease.

Think about a location first

If you’re within the shores of the UK, you’re never more than 70 miles from the sea (the furthest possible inland distance). This means fresh fish can be ferried from the coast to anywhere in less than a day. But, that doesn’t mean you’ll succeed in any high street where you set up roots.

Finding the right location for running a fish and chip shop is a vital first step in ensuring you will have a successful and profitable business.

Finding a premises

You could find an existing fish and chip shop for sale and takeover its existing customer base and equipment, or, if you’re not ready to commit to buying one outright, there are plenty of fish and chip shops for rent.

Before deciding, establish the reasons why the fish and chip shop is being given up for sale in the first place. It could just be that the current management are ready to move onto new horizons, or it could be that the shop has problems beyond control that make it a poor investment.

Here’s what you should consider when choosing a location for your fish and chip shop:

• Low-income area – as an affordable but delicious meal, fish and chips have always found success in low income areas. Provided there’s a ready supply of local punters and not too much competition, a low-income area can represent a good location
• High-income area – though people will have more disposable income, they are more likely to cook at home or go to restaurants in high income areas. That said, a high-quality fish and chip shop could still succeed
• Mixed income/ high footfall – areas such as town centres or busy high streets are going to give you the highest footfall but also cost the most in rent and rates. You may also have more competition.

Other considerations:

• Proximity to competition – being relatively close to competitors can actually be advantageous to a small business. Hungry customers like options, and if yours is the best of the choices, that’s where they’ll spend their pennies. Use nearby competitors strategically to show off your superior offering
• Cleanliness/ maintenance – check for signs of damp or vermin and that the property is maintained. Although things can be cleaned, there are some recurring issues it can be expensive and difficult to deal with
• Reputation – research customer reviews of the fish and chip shop you intend to buy before committing. If it’s got a poor local reputation, you’re going to have to put a lot of time and effort into swinging that around

Owning a fish and chip shop seems a sure-fire way to capitalise on our bountiful coastal waters and ravenous appetites. But, it’s essential to build in time for some careful business planning before you even think about shipping in that deep fat fryer.

As with any business, you should write a thorough and detailed business plan for your fish and chip shop before committing to anything.

You can find out more in our  business plan template .

Your business plan should include:

• An executive summary   –  summarising the main points of the business plan
• Introduction to the business –  mission statement, objectives, legal and capital structure
• Management –  establish background and credibility of the management team
• The market –  target customers, market trends/ size etc.
• Competitive analysis –  strategy, pricing, selling channels
• Operational details –  premises, materials, equipment, staffing
• Financial overview –  sales and profit, projections, funding requirements

Need help staying organised?

Starting a business of any sort takes time, and there are always a number of tasks to keep track.

Project management software can help you to stay on schedule, assign tasks to stakeholders and track the progress of your various projects. It’s an excellent way to make sure that everything happens effectively and on time. Find out which project management tools we recommend .

Or, take a look below at our top recommended software products for small and new businesses.

These are all completely affordable tools to help business owners save time and have peace of mind when it comes to task management (monday.com), organising customer information (Freshworks CRM) and taking payment efficiently (Lightspeed).

Should you buy a leasehold or freehold fish and chip shop?

Both leasehold and freehold are solid options for aspiring fish and chip shop owners. Below we look at the differences and realities of each:

A leasehold property is one you only own for a short period of time. Ownership is returned to the landlord when it comes to an end.

Your lease will detail conditions such as whether you need permission to make alterations to the property, and whether you or your landlord have responsibility for maintenance and repairs.

A leasehold represents a smaller investment and is a good way to get started for someone fresh to the fish and chip shop industry. Make sure you properly understand the agreement before signing on the dotted line.

Buying a long lease will make it easier to sell down the line and you could always buy the freehold later on if you’re in a position to do so.

With a freehold you will enjoy complete ownership of the fish and chip shop business including alterations, maintenance and repairs.

This will give you the freedom to do exactly what you want with your business but you will have to have more capital.

It’s going to cost you a fair but to buy a decent freehold business in a prime town centre location, though you will find it easier to access a bank loan with a fixed asset.

One of the reasons for fish and chips’ enduring popularity is their affordability. Whilst dwindling fish stocks and other economic factors have pushed up the cost of the raw ingredients there’s still a decent profit per portion on fish and chips.

That said, it’s still best not to cut corners when it comes to accessing these ingredients. Cheap ingredients make a low-quality product. A lower quality product means fewer punters.

How should you price your business?

Setting a price point for your fish and chips will depend on a number of factors including how much you’re spending on your lease/rent, the demographics of the area and how much you can get ingredients for.

An HMRC estimate of the fish and chip industry states that you might expect gross profits of around 50% – where some achieve more, others less. This comes down to economic preparation, effective portion control and reasonable pricing. All of which you can get advice on from trade organisations, like the NFFF. Other factors like the standard of the premises and image you project is up to you.

How can you attract further business?

Promoting your business beyond a bright and welcoming shop is something several of the people we spoke to were doing. Loyalty schemes, ‘buy one get one free’ offers, and sponsorship of local sports teams or events can all get you better known and build up your business.

Ultimately, the quality of the product is the number one factor in how much you will earn. If it’s good, people will not only come back to you but they will travel out of their way, past other shops to come to yours. And they will tell their friends about you – incidentally something they’ll also do if the product is bad, with the obvious opposite effect.

How can you build a customer base?

Communicate with your customers, make them feel their custom is wanted, tell them how good your fish and chips are, then prove it by delivering a delicious product. Achieve this and you’re sure to be the major plaice for takeaway for miles around.

CRM software is a great way to manage customers and suppliers, to keep all of your supply chain in one handy place. The best tools can help you to store phone numbers, orders and invoices in one easy-to-reach location so you’ll never lose track of your sales pipeline. Read our guide to the best CRM options for small business owners here.

Setting up a fish and chip shop takes capital. It may be that you are starting the business with money you’ve saved; in many cases though, people will raise extra money to get started. Fortunately  there are a number of options available:

Startup loans – the Startup Loan company is a government backed scheme where you can borrow up to £25,000 with a fixed interest rate of 6% p.a.

Business loans – business loans are similar to a startup loan, except that they are not just for new businesses and don’t have the same caps.

You should also consider how you will track your finances. It’s best practice to make use a business bank account to separate your personal and business expenses and income.

Starting a business takes money and time, and accountancy software can help. Whether you’re running your new fish and chip shop alone, or with staff, you’ll need to stay on top of your finances. If you’re not ready to employ an accountant to help out, then we suggest using an online accountancy tool.

Accountancy software is designed to simplify the complex processes related to money. From tracking your outgoings to managing your taxes, you’ll find any finance process simpler with the right tools in place. Take a look at the accountancy software that we’ve rated best .

The two most common fish sold in UK fish and chip shops are cod (62%) and haddock (25%), thanks to their thick, flaky consistency. These can be bought freshly frozen at sea in bulk from fish and chip shop suppliers.

Dwindling stock numbers in the Atlantic have rightly highlighted the need for the industry to encourage sustainable fishing practices. This falls on the shoulders of everyone from trawlers and wholesalers, to suppliers and you the fish and chip shop owner. Because if there’s no fish, there can be no fish and chips…

The most trusted and recognised seal of sustainability is the ‘Blue Tick’ of the Marine Stewardship Council (MSC). The organisation can award it at any stage of the supply chain from fisheries to suppliers and vendors to help businesses and consumers make sustainable choices.

When choosing a supplier, look for the MSC Blue Tick. You should also check that they are well regarded in the industry for their service. Below are a few fish and chip suppliers to choose from:

• Unique Seafood
• Henry Colbeck

These suppliers will often sell a range of other essentials including sausages, bread, potatoes, pies, batter mixes and oil.

What oil do fish and chip shops use?

If you want to achieve crispy, golden chips with fluffy centres, you might be wondering; “what oil do fish and chip shops use?”

There are three commonly used ‘frying mediums’ in UK fish and chip shops:

• Rapeseed oil –  lower in calories, fat and saturated fat provided oil is in a condition
• Beef dripping –  the traditional option but highly calorific and obviously not suitable for vegetarians
• Palm oil –  extensively used throughout the fish and chip industry. A vegetarian option. Leading brand FryMax claims to source only sustainable palm oil

How often should you change fryer oil?

There is no definite answer to this – it depends on what you’ve been frying and the quality of the oil.

You should change the oil if it starts to smoke at lower temperatures, if the smell changes, or if the colour darkens. It may also develop a foamy scum on its surface.

It’s important that you look out for these signs: oil that needs to be changed will impair the taste of your food and lead to poor customer reviews.

For your fish and chip shop you’re going to need to think about buying a fish and chip shop fryer, buying an industrial cutter, large fridges and a variety of other equipment.

Buying a commercial fryer

When choosing a commercial chip fryer, you should consider whether it is large enough to handle a large volume of orders simultaneously. It should also be easy to empty and clean.

Free standing and counter top models are available in both electric or gas.

Generally, gas fish fryers are more expensive to buy but cheaper to run. A gas fryer can also heat up a lot faster than a commercial electric fryer.

Built in filtration can help to significantly extend the life of your oil, meaning you will spend less time emptying and cleaning the fryer.

Fish and chip shop equipment checklist

Below is a checklist of the equipment you will need to ensure the smooth running of your fish and chip shop:

• Large fridges –  for keeping fish fresh. These range in sizes depending on your needs
• Display fridges –  for displaying cold drinks to customers
• Chip scuttle –  a hygienic unit for storing freshly made chips
• Potato peeling machine –  you’re going to be peeling a lot of potatoes for chips. A machine can lift some of that burden
• Batter mixer –  to mix the large quantities of batter you’ll need
• Heated food display –  to display freshly fried fish and other produce to customers
• Scrap bin –  to dispose of any unwanted or unsuitable scraps and keep your kitchen and counter tidy and clean
• Microwave –  for rapid reheating of cold food
• Storage freezer –  a large storage freezer is essential for all the fresh fish and other produce you’ll need to keep backed up
• Utensils –  including scoops, tongs, knives, salt and vinegar bottles

This is not an exhaustive list but is a good jumping off point. If you are buying a fish and chip shop then it may already have most of the essential equipment. Always make sure equipment is clean, maintained and safe.

Remember also, that you will have ongoing utilities costs such as energy and boiler maintenance. You may find it useful to use our  business energy comparison  page and our  guide to commercial boilers  to help you make informed choices.

Disposing of fryer oil

You must not dispose of fryer oil by pouring it down the drains as this can cause blockages and attract vermin. You can be prosecuted for improper disposal of waste oil.

There are organisations across the UK that will collect your used cooking oil and recycle it as renewable biodiesel.

Below we look at the hardware you’ll need to take payments from your customers.

Fish and chip shop POS system

To take payments from your customers you’ll need a point of sale (POS) System.

Not just a cash register, these include a touchscreen monitor and computer a receipt printer, and a barcode scanner.

They can also help a fish and chip shop owner with inventory management, stock control, staff hours, and loyalty schemes should you have one.

The hardware including the credit card readers and receipt printers range in price and quality:

• Credit card readers – £80
• Receipt printers – between £150 and £400

It may be cheaper to buy the hardware and software as a complete package costing an average of around £1,499 or around £19.99 to rent per week.

Find out everything you need to know about the  point of sale system costs  here and review the  best small business  POS systems .

Fish and chip shop PDQ reader

Any modern chippy should be prepared to take card payments from customers. If you’re not equipped, you’ll be missing out on a significant source of revenue as fewer and fewer punters feel the need to carry cash.

A process data quickly (PDQ) machine allow you to quickly and efficiently take card payments. There are a number of ongoing costs including transaction fees, monthly fees and topping up till roll. You can either lease or buy.

Because of the high potential for unhygienic food establishments to represent a serious health risk to the public, there are a number of rules and regulations you need to be aware of if you don’t want to risk closure.

First and foremost, you must register your fish and chip shop business with the local authority at least 28 days before trading or before food operations start.

You can find out about and  register your food business on Gov.uk .

If you have five or more employees it is a legal requirement that you have a written health and safety policy detailing procedures.

If you are responsible for looking after food safety management procedures at your establishment, you must have had training on food safety and hygiene and have a food hygiene certificate.

How to get a food hygiene certificate

A number of organisations offer relatively affordable training for food hygiene certificates ranging from food safety awareness, to food hygiene and safety, to supervising food safety.

Make sure you use a provider that’s approved such as  High Speed Training . Food hygiene certificates do not have an expiry date.

The Food Standards Agency advises that, when staff are preparing or handling food they should:

• Keep hair tied back and wear a head covering such as a hat or net
• Not wear a watch or jewellery (except a wedding ring)
• Not touch their face and hair, smoke, spit, sneeze, eat or chew gum

Hand washing is the cornerstone of good food hygiene in order to prevent the spread of bad bacteria.

Any staff working with food must wash their hands:

• When in the kitchen or preparation area
• Before preparing food
• After touching raw food
• After handling food waste or emptying a bin
• After cleaning
• After blowing their nose
• After touching phones, light switches, door handles and cash registers

Employers’ liability insurance

Your employees are going to be exposed to plenty of risks in your fish and chip shop. Knives, heavy equipment, burning hot oil.

Read more:  What is employers’ liability insurance?

You are legally required to have employers’ liability insurance up to the value of £5m if you employ one or more people.

This will protect you against the financial cost of a claim against you in the event that an employer is injured or becomes ill as a result of working for you.

Public liability insurance

Your customers are also at risk so you should also take out a public liability insurance policy.

A public liability insurance policy will cover the legal costs for any claim made by a member of the public in the event of an injury or accident in your fish and chip shop.

Read more:  Does your business need public liability insurance?

As well as their status as the country’s favourite hearty convenience food, British fish and chip puns have a long lineage in the national psyche.

Indeed, its historical relationship to British industriousness, entrepreneurialism and fighting spirit cannot be understated: fish and chips exploded during the industrial revolution as railways linked the coast and cities, fuelling the hungry workers of England’s manufacturing towns. And during both the first and second world wars, the dish was made exempt from rationing by Lloyd George and Winston Churchill respectively; such was its importance to national morale.

There’s even an Oscar’s of the fish and chip shop world – the National Fish & Chip Awards, which assesses the country’s chippies on responsible sourcing, menu diversification, customer service, and quality.

To help stand out in this creative market, you may want to think about your brand name. Notable examples of punny fish and chip shop names include:

• The Codfather
• Fishcoteque
• A Fish Called Rhonda
• Frying Nemo

You should embody that spirit with your branding – fun, bright, colourful, engaging, simple – and keep your shop front and sign well-maintained and painted.

A scruffy exterior with faded, cracked paint and grimy windows will make potential customers think of dirty fish and chip shop interiors.

Likewise, keep your counter clean and uncluttered and have bright, easy to understand chip shop menus boards.

It’s also worth considering whether you’ll need a website for your shop – we’ve compared a few top web builders below. These are easy to use and can help you to create a professional site, even if you don’t have experience in web design.

Wix (web builder)

Squarespace (web builder MAIN)

According to the government’s National Careers Service, a fish-frier working in your shop can expect to earn between £13,500 to £16,000 a year, though many roles are part-time.

They should have a food hygiene certificate if they will be handling food, but this can be earned on the job.

Here are some other positions you might want to hire for if you own a fish and chip shop:

• Counter assistant –  these will take orders and payments, and could also be involved in the preparation and frying of fish and chips
• Food preparation assistant –  these are the people that keep the engine running in the back, prepping ingredients and ensuring the front of house has everything it needs to keep up with customer orders
• Fish fryer –  will cook the fish and chips to order
• Manager –  managers are responsible for ensuring the day to day running of a fish and chip shop. This involves taking stock and ordering supplies, ensuring health and safety, managing staff, and ensuring the business is profitable
• Waiting staff –  this will only be necessary if you have a shop floor and tables that need to be served

The NFFF and Seafish have partnered to offer two learning programmes in a bid to raise standards across the fish frying sector.

• The fish frying skills qualification  – covers frying skills, food hygiene, and health & safety
• The customer service skills qualification  – customer service, food hygiene, and health & safety

If you’re ready to move on from the fish and chip shop sector, or to move to a new location, you can use on of the many fish and chip shop transfer agents to sell it on.

They or a prospective buyer may want to know:

• Asking price
• Lease terms
• Details about the premises
• Trading hours

Offer a reasonable price for your fish and chip shop and be honest about the details and you’ll be well on the way to exiting your fish and chip shop business.

The fish and chip industry might be hugely competitive, but with the tips, tricks and tools in this guide, you’ll set yourself up with the best chance of success.

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• Business Plan for Fish & Chips Restaurant

Fish & Chips Restaurant Small Business Idea and Business Plan

Starting your own small business in the UK isn’t easy but having a properly developed business plan will help you achieve success.

To start a Fish & Chips Restaurant business in the UK, take the time and explain the idea via a business plan.

Understanding all of the aspects of the business idea will be the key to getting the Fish & Chips Restaurant business running like a well-oiled machine. The business plan you develop will help you organize the elements needed into a strategy that you can actually use to startup, by paving a clear road map as to what you need to follow for the lifespan of your business.

Starting a Fish & Chips Restaurant business isn’t easy, but when done right, it can lead to a lot of success.

To help you get started, you can use the free business plan builder tool to develop your own Fish & Chips Restaurant business plan.

The business plan template is very easy to use, is interactive and will quickly and easily help you create your business plan just by answering the needed questions about your small business idea.

Create your own Fish & Chips Restaurant business plan for free using the Business Plan Builder

The free business plan template builder is divided into a few easy to follow steps.

The free business plan builder template is provided by UKStartups.org to help you develop your own business plan. For step by step guidance, see the 5 steps below.

Once completed, the result will be a clean, professional plan that will help you start your own Fish & Chips Restaurant small business in the UK.

When you have completed your Fish & Chips Restaurant business plan, the next step will be to find available funding that will help, or to speak with a funding adviser who will assist you each step of the way to securing the needed funds to make your Fish & Chips Restaurant business startup.

If you are looking to limit your startup costs when starting up a Fish & Chips Restaurant small business in the UK, this free business plan builder tool will be it.

Starting a Fish & Chips Restaurant business is only one of the ways others have used this free business plan tool. There are hundreds of different ideas you can start, and if you need guidance, do reach out to a UKStartups expert to get the needed assistance and guidance.

Step 1. Your business information

To develop a proper Fish & Chips Restaurant business plan with the free business plan builder template, it is important to answer each of the questions about your business to the best of your abilities.

What is your business? What are the products/services you provide? Who are your customers? What are your goals…etc?

Having a clear explanation will help you create a in-depth business plan that you can actually use to start the Fish & Chips Restaurant business and to apply for needed funding to cover your startup costs.

Step 2. Projecting your revenues/income

The Fish & Chips Restaurant industry can have great results. Planning and projecting the financial figures to approximate what you will make each year is crucial to building a strong business plan.

What do you think your business will make from each of its products/services? Simply list your products/services, enter the appropriate financial figures (costs and expenses).

If you don’t have the figures, in many cases it is recommended to do a a bit more research on other Fish & Chips Restaurant businesses locally and within your own region to get an idea of potential revenue. You can do your best to estimate the figures and growth potential.

If you need assistance in projecting, you can always contact UK Startups funding experts for the help.

Step 3. Your business market

As a Fish & Chips Restaurant business, having a clear explanation of the market and industry that you are in will help you plan for the figure and will ensure you can take the business to the next level.

Explain your location of business, share specifics about your customers, showcase your competition and explain the advantages you have over your competition.

Step 4. The future plan

Starting your own Fish & Chips Restaurant business and getting it off the ground is important to you.

No matter if you’re planning on applying for government funding for your Fish & Chips Restaurant business or not, it is important to plan out the future and provide an explanation of how you will grow the business. This means explaining your marketing plan, your sales strategy and clearly outlining a growth plan for the next few years.

Be sure to break this down step by step to show how you intend on making sure your Fish & Chips Restaurant business can grow each year.

Keep in mind that often business plans are focused on key people. Be sure to discuss yourself, your role and any other key figures in the business as well.

Step 5. The financials

In the end, it all comes down to the financials. If you are seeking funding, or not – the business plan you develop needs to have clearly defined financials or projections. The business plan builder tool makes it easy to develop your financial charts by simply entering your expected revenues per month and year. If you don’t have the figures as it’s a new business be sure to project the figures based on your expectations. If you need help with this, ask the UK Startups experts .

A clear breakdown of your funding needs is also recommended in case you are seeking funding and this free business plan template will help you with exactly that. When developing your Fish & Chips Restaurant business plan using this free template, the above 5 steps are recommended in order to succeed. While there are other key points that will assist you in starting your business, finding funding...etc, the free template will help put you on the right path

Be sure to request a professional to review your business plan , to answer any questions you may have and to help you with the funding search once you’ve done the initial free template. You can request this directly via UKStartups.org and through the Small Business Startup Platform as a member.

If starting a Fish & Chips Restaurant business is just one of your ideas, perhaps considering other options, here are some popular small business’s others have chosen to startup

• Marble Contractor
• Condominium Rental Agency
• Industrial Equipment Supplier
• Mountain Cabin

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9 Tips for Running a Successful Fish and Chips Business

by Kazim Ladimeji. Copyright 2011-2024. All Rights Reserved · Published September 15, 2022 · Updated September 15, 2022

Tip 1: Start with a small menu.

Keep your menu simple in the beginning, with just a few fish and chips options. You can always add more items later on as you get more comfortable with running your business. Find out what is popular in your area and start with those items.

Tip 2: Plan for success by doing your research.

Know your target market and figure out what price point will work for them. It’s also important to understand the competition and what they’re offering. Find a niche that you can fill, and make sure you have a solid business plan before you get started .

Tip 3: Choose the right location.

A busy street corner or near a popular park are both good choices for a fish and chips shop. You want to be in a spot where there is foot traffic, and potential customers will see your shop.

Tip 4: Don’t skimp on the quality of your ingredients.

Use fresh, high-quality ingredients for your fish and chips. This will ensure that your customers keep coming back for more. Find fresh products on fishforthought.co.uk sells fresh shellfish online . 

Tip 5: Promote, promote, promote!

Make sure people know about your shop by promoting it on social media, handing out flyers, and even putting up a sign in the window. The more people who know about your business, the more likely they are to come and try it out.

Tip 6: Keep it clean.

This one is important for any food business, but it’s especially important for fish and chips. No one wants to eat greasy food that’s been sitting out in a dirty shop. Keep your shop clean , and your customers will be happy.

Tip 7: Give good customer service.

Make sure your customers feel welcome and that their orders are correct. If you give good service , they’re likely to come back and recommend your shop to others.

Tip 8: Have a good system for taking orders.

This is important for efficiency and keeping your customers happy. Have a system in place so that you can take orders quickly and get the food out to your customers in a timely manner.

Tip 9: Offer discounts or loyalty cards.

Giving your customers a discount will encourage them to come back, and it’s also a great way to build up loyalty. You could offer a loyalty card where they get a free item after so many visits or give a percentage off their order if they mention your shop on social media.

Following these tips will help you have a successful fish and chips business. It’s important to research your market, start with a small menu, keep things clean, and offer good customer service. If you do all of these things, you’ll be well on your way to running a successful fish and chips shop!

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Fish and Chip Shop Business Plan Outline

Fish & Chip Shop Business Plan Outline:

What is it?

There are few things more tempting than the smell of fish and chips. And it can be little coincidence that rosy childhood memories of seaside holidays, Friday teatimes and late suppers are more than often associated with the savoury treat.

So the idea of owning your own fish and chip shop will probably seem like a similarly alluring prospect. Don’t fall into the nostalgia trap, though, this isn’t last of the Summer Wine. The modern day takeaway has big competition so you need to put a lot in to get it right.

Get the winning formula, however, and you’ll soon be cashing in your chips.

Current market

In the past few years, there has been a pretender to the throne of Britain’s favourite takeaway - chicken tikka masala. However, all traditionalists can now breathe a sigh of relief; fish and chips is firmly back on top according to a survey by the British Potato Council.

Its place at the top isn’t down to traditional values. This market of independents has lead the field for much of the first 100 years of its history. Gradually the  has been faced with a large number of alternatives, from Chinese takeaways to burger vans.

Increasingly fish shops can’t just open when they please and customers will vote against poor quality with their feet. This isn’t consistent throughout the industry, however, so a good  will have its own very high standards.

Broadly, it’s about brighter, spotlessly clean shops, well-trained and pleasant staff, good economic practices – and most importantly a flawless product. Vinegar soaked newspaper  no longer meets customer expectations and when 70 to 80% of your business is repeat, this is very important.

And it’s important to make the most of the product you have. Arthur Parrington is the national training co-ordinator for the National Federation of Fish Friers (NFFF):

“There have always been a lot of poor quality fish and chip shops but if a shop is clean and bright with the right attitude it will hold its own. Fish and chip shops hide their light under a bushel, the fact is this is a healthier meal than either Indian or Chinese takeaway.”

Rules and regulations

There are no specific rules and regulations relating to fish and chips but there's a raft of health and safety legislation which governs all premises on which food is prepared.

“Rather than waiting for the  inspectors to arrive, invite them in to inspect the premises before you start kitting it out,” advises David Beedle who runs four shops in County Durham.

“They appreciate coming in first and it means you get the right advice about where to put your sinks before rather than after you’ve fitted them, which is obviously preferable.”

The Sea Fish Industry Authority (Seafish) has a Quality Award for those businesses which operate at a consistently high standard. Again, says David Beedle, “they can triple check the quality of  before you start.”

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In terms of structured training, the NFFF offers a three-day course covering everything from the implications of taking on a fish and chip business through to the practical side of actually portioning, preparing and frying fish and chips.

“There is no legal requirement for this kind of training,” says co-ordinator Arthur Parrington, but the course also covers all food safety legislation and offers a 12 month free membership to give you continued access to this advice.

Day to day, those that appreciate the cleanliness of your premises will be your . Joyce Willoughby maintains that “customers are far more aware of hygiene than in the past. The counter has to be kept spotless at all times and we purposely have an open kitchen so customers can see what’s going on. We get plenty of complimentary comments about the cleaning – although it’s no more than I would expect.”

So clearly the key is to set your own high standards keep to them, even before you start trading.

How much does it cost?  

The cost of the premises will depend on its location and size – and whether it has a seating or restaurant area. A seating area will increase costs because it needs extra space as well as furniture, toilet facilities, crockery and so on. You may also need to hire additional staff.

There is a specific range of equipment you’ll need, but you may be able to buy that from an outgoing owner to cut costs. Seek expert opinion of the condition of existing equipment from your local environmental health department or Seafish, for example, and it may  you buying new.

You also need to budget for supplies. The NFFF provides names and  of suppliers in its member’s handbook and it can also give advice on the type of fish to buy. There are two choices: fresh wet fish can come via merchants from the ports overnight or you can buy fish which has been frozen at sea.

It’s largely a matter of preference as to which fish you prefer. People near the sea might choose wet fish for its freshness although the price of frozen doesn’t fluctuate so much and is also very fresh. Some owners also buy in par-fried chips as this saves time and staff costs but again it depends on the kind of product your  will prefer.

Who is it suited to?  

Fish and chip shops tend to be  businesses with premises above the shop, but that doesn’t mean you have to be older or married to run one. In fact, with increased opening hours and higher standards, you’ll need the energy to put a lot of hard work into the business.

Nor do you need to have a background in the fish and chip or even catering industry. John Allport’s  Allport’s Fish and Chip shop in Pwllheli was named 2001 fish and chip shop of the year, and he maintains it's commitment rather than experience which drives success.

“If you haven’t got experience of the business, you haven’t had a chance to get into bad habits. It’s really good to be able to bring a fresh approach to this business so you can produce a consistently tempting and competitive product,” he says. 

Joyce Willoughby put this theory into practice when she and her husband Charlie started up Charlie’s Fish and Chip Shop in Amble, Northumberland. “We started up without any experience or help but by trial and error we put together a business based not on traditional grounds but on the importance of good, trained staff. Now we’ve won national training awards and are  in People, which has stood the business in very good stead,” she says.

The opening hours of the chip shop have extended over the past few years. Whereas shops used to open for a couple of hours at lunchtime, for five hours in the evening and have two days off a week, now many are open all day every day. It is here good help is important but you could personally be working 50 to 60 hours a week.

How to start

Location As with any , there are rules dictating the location of a fish and chip shop. Even if you are taking over existing premises, these are still things you should look at – could there be some clue as to why the previous occupant moved on?

“You need chimney pots, people living all around,” says David Beedle. “If you have a city centre location, you’ll get some lunchtime trade but then not much until the pub and club trade late evening. A residential area is best because you get the repeat domestic and factory business.”

Competition   Being in a residential area will also cut down on your immediate competition, but that doesn’t mean you shouldn’t be aware of that it is up to. You need to look at what your competitors are doing in terms of products and hours.

In terms of quality of product, you don't need to be in the same league as McDonalds and so on, but look at what they do well, such as consistency, and learn from that.

Promotion   There is no industry wide brand so this is not something that fish and chip shops are known for – although the NFFF and Seafish work to raise the sector’s profile generally. And individuals are starting to change this too. A good start is to fight the image of fish and chips being unhealthy.

“If fish is fried at the right temperature, it shouldn’t be soggy or greasy,” explains David Beedle. “The trick is to make sure the batter encases the fish fully so it steams inside the pocket not touching the fat at all.”

The most obvious routes are Yellow Pages listings, as well as local good food guides. It's also a good idea to place leaflets in local tourist information or guesthouses if you are situated in a tourist area.

Image   The best promotion for  is the overall design and image you project. Again, this goes back to the

Cleanliness of your shop, so you should make sure you have bright, inviting décor.

It should also extend to you and your staff. Make sure staff are smart with uniforms or matching aprons and they are pleasant and helpful at all times. “I teach my staff the importance of good body language,” says Joyce Willoughby. “Eye contact is very important.”

Word of mouth   Recommendations from  and friends is as always the best advertising – it works, and best of all, it’s free.

How much can you earn?

An Inland Revenue estimate of the fish and chip industry states that you might expect gross profits of around 50% - where some achieve more, others less. This comes down to economic preparation, effective portion control and reasonable pricing. All of which you can get advice on from trade organisations like the NFFF. Other factors like the standard of the premises and image you project is up to you.

Promoting your business beyond a bright and welcoming shop is something several of the people we spoke to were doing. Loyalty , buy one get one free and sponsorship of local sports teams or events can all get you better known and build up your business.

Daring to flout the traditionalists still mourning the loss of newspaper , some businesses have addressed the soggy effect of paper wrapping by introducing cardboard boxes. Beedle says consumers who were originally dubious about the idea have been so impressed by the improvement in freshness and temperature, they've come back for more.

Ultimately, the quality of the product is the number one factor in how much you will . If it’s good, people will not only come back to you but they will travel out of their way, past other shops to come to yours. And they will tell their friends about you – incidentally something they’ll also do if the product is bad, with the obvious opposite effect.

Communicate with your customers, make them feel their custom is wanted, tell them how good your fish and chips are, then prove it by delivering a delicious product. Achieve this and you’re sure to be the major plaice for takeaway for miles around.

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Business Plan Bob’s Fish & Chips

Introduction.

Bob’s Fish and Chips will be operating as a fast-food restaurant in Cambridge UK, providing a combination of great food at competitive prices, served in a cozy atmosphere. The restaurant will meet the demand for snack-type of fast food, which will be consumed when the tourists visiting Cambridge do window-shopping and walk around the shopping district. The restaurant will also cater to the needs of the student population in the city. In the present day competitive environment, it is becoming an increasingly complex task to differentiate the product offering and the food outlet from the competitors. However, Bob’s Fish & Chips will adopt the strategy of penetrating into the market by low prices and offering great quality food to capture a sizable market share in the future. The interior of the restaurant will be made in such a way that it will attract both young and old customers alike for repeated visits with their families. The products offered will include Belgian fries and a choice of unique signature dipping sauces. This plan outlines the marketing, people, and financial aspects of the proposed business.

Bob’s Fish & Chips is poised for the strong competition from a number of similar firms operating in Cambridge. The restaurant will formulate its marketing strategies in such a way that it meets the following needs of the target market. The needs identified are:

• to have some dishes with flavor preferably fried items,
• looking for faster service,
• interested in a comfortable and warm atmosphere,
• clean and healthy food,
• meeting the status needs.

The marketing analysis involves both an internal and external environmental analysis of the proposed market. While the plan uses SWOT analysis for observing the internal environment, the PEST analysis is used for analyzing the external environment.

Marketing Analysis

Swot analysis.

The SWOT analysis facilitates in linking the strengths of the organization to the opportunities available in the market apart from providing a chance to analyze whether these strengths can be converted into critical success factors for the firms. It also allows an organization to prepare strategies to convert weaknesses and threats to strengths & opportunities respectively.

The product offerings of the restaurant shall be its foremost strength, because of the location and the target customers. The offer of clean and healthy foods as being done by larger food retail chain stores like KFC and McDonald’s will be one of the key strengths of the company. The current trend in the UK is to look for healthy food outlets (Marshall, 2007). The nutritional value of the food items will add to the strength (Garber, 2005). Reasonable prices and the value for money concept as compared to competitors in the market is another factor that adds strength to the company. The innovative interior and layout of the restaurant will add to customer satisfaction. Skilled, experienced, and customer-focused staff (over 5 years experience) with training plans, and competitive reward policies in place to ensure staff commitment, and minimize the risk of staff turnover will be added strength.

Difficulty in differentiating the product offerings is the most important weakness of the restaurant. Under health considerations, the tourists may not consume fried items in an unknown location. Lack of current brand awareness will affect the sales growth in the initial years. There is no variety of foods offered by the company. This will make the customers go to other restaurants where they have a choice. Competition in this sector is on the rise, which will affect the business Bob’s.

Opportunities

An increasing number of tourists is likely to have a positive influence on the business of the restaurant (Cambridge City Council, 2009). There has been an increase in the number of foreign students residing and studying in the UK (Higher Education Statistics Agency, 2004) and this has resulted in an increase in the student population in Cambridge, which offers an opportunity for the restaurant. With the aid of IT tools, and advertising on the World Wide Web the company can attract more tourists as its customers. Economic downturn makes people prefer to spend money on food at a reasonable price. The UK consumer is more discerning and at the same time, more open to new tastes and culture. There is an opportunity to provide more to the consumer

The saturation of the market with newer, slicker fast-food restaurants sprouting up, and possibly restaurant chains from oriental offering other exotic food varieties expanding in the UK is a real threat. The competition from multinational fast-food restaurants like McDonald’s and Burger King poses a serious threat to the business of Bob’s Fish & Chips (Anon., n. d.). The health consciousness and obesity problem among the people also threaten the future of the business Bob’s. The restaurant has to consider market maturity, where customers have real choices and switching costs are low. Fast food restaurant is a highly fragmented sector, which leads to a high level of competition. The ban on smoking is another threat, as the customers may not visit for short breaks. With new government regulations including the national minimum wage and a new business tax, fixed costs will be added. In spite of the growth of the catering market, the rate of failure of the catering business increases. With the emphasis on the government’s hygiene issue, it has an influence on Bob’s hygiene management.

PEST Analysis

The external environment of Bob’s Fish & Chips is analyzed by political, economic, social, and technological factors (PEST) affecting the industry.

Political Factors

Cambridge being one of the important cities of the UK, with policies changing from the positive to negative side for relevant business has presented serious threats. Therefore, it becomes necessary to analyze the policies relating to the food, trading, and health industry. The relevant issues affecting the industry are: (i) The nutrition standards for schools, (Wallis, 2007) (ii) the national minimum wages, (iii) business taxes.

Economic Factors

The forecast for the fast-food industry is positive especially after the recent economic crisis (Paskin, 2009). There is around increase in the growth rate of the fast-food industry showing a positive sign for the business. However, a higher failure rate of the catering business in the past is a serious matter of concern. UHY Hacker Young, (2007) claimed that restaurants and bars are three times more likely to go bankrupt than other UK businesses.

Social Factors

Population growth, growth in household income, changing lifestyles, and growing consumer support are some of the positive influences of social factors on the industry. Children’s obesity and other health concerns and hygiene issues are some of the negative influences of social factors.

Technological Factors

The major technical factor affecting the business is the proliferation of the Internet and eCommerce. Customer reach can be improved tremendously using the Internet and other IT tools.

SMART Objectives

A specific plan of the business is to enlarge the operations of the restaurant to become a full-fledged restaurant in the future. The measurable aim is to achieve a sales growth of at least 15% in the second year of operation. The achievable objective is to enhance the brand equity of the company in the fish and chips sector. The realistic aim is to have a net after-tax margin of 18% on total revenues by the third year of operation. The time-bound objective is to expand the business in five more cities of the UK in the next three years time.

Identification of Target Markets

The target market for Bob’s Fish & Chips consists of students staying in the city and tourists visiting the city for sightseeing and on pleasure trips. According to a survey by Local Research Company, fast-food restaurants in the UK’s top ten cities have risen by 8.2% to more than 1450 outlets during 2009 (Financial, 2009). This underpins the potential for the proposed venture. While Bob’s will target customers in all age groups, the focus will be more on students and tourists. The following table provides information on the customer segmentation in Cambridge. Four segments and seven variables, which include psychographic (Lifestyle), behavioral (Spending occasions, Benefit sought), and profile aspects (age, income, and occupation cycle), are divided into the market in table 3. The market for Bob’s will be among the customers in ‘Potential’ and ‘High-Value’ segments.

Table: Customer Segmentation in Cambridge

Marketing Objective and Marketing Plan

The marketing objective of Bob’s will follow the four P’s of marketing as developed by McCarthy (1960).

According to Kotler & Armstrong, (2004) pricing refers to the amount of money that the customers would be willing to part for acquiring a product or service. The pricing strategy of the company will be ‘generic’ implying average spending of £ 5 per person visiting the restaurant for a snack or light lunch.

The restaurant will focus on selling fries as the main product. The company will offer unique dipping sauces of more than 20 varieties along with the fries. The selection of product offerings is an important aspect of marketing. Based on an assessment of the existing fast food outlets in the locality and their product offerings, the company has decided to offer fries and sauces.

Bob’s will fit itself in a location of 80 -100 square meters with a seating capacity for 30-40 guests at a time. “The location will feature its originality in merchandise display and other brand-building attributes.” The restaurant will equip the outlet with trendy and modern furniture and the ambiance will promote a clean and fresh feeling. The restaurant will be located in a shopping mall to attract the target customer group.

Promotion includes the creation of a strong brand and building equity around the brand. Bob’s will create awareness among the target customers by using effective marketing communication. The company will develop a database of the potential customers who are likely to return.

Marketing Plan

The company will use three different marketing plans. First is the in-store marketing with printed brochures, posters, standing signage inside the shopping mall, grand opening promotion, and party catering. Secondly, the promotion will be undertaken through the local store marketing through brochures and free occasional t-shirts and caps. The third will be the use of local media involving direct mail, web pages, advertisements in local magazines, and newspaper campaign. The total estimated cost for these marketing plans is estimated at £ 12,000, which will be amortized over 5 years.

Key Note: Market penetration through competitive pricing with quality foods

The market penetration plan requires the appointment of the following personnel. Since the operations are currently small, it needs only a simple organizational structure. It is assumed that Bob will take care of the general management including sales and Lloyd will look after purchases and overview of food preparation. Apart from the brothers, there is the need for two cooks, two kitchen helpers, and two cashiers with one each per shift during the hours when the restaurant is open. The information on personnel is provided in the following table.

Leadership, Motivation and Team Working

The concepts of leadership, motivation and team working have a close interconnection, the understanding of which is very vital for running a business organization successfully. Bob and Lloyd should understand the application of these concepts in the context of the business of Bob’s Fish & Chips. These concepts are discussed in the following sections.

According to Kotler & Westman (2006), none of the traditional ways of improving the profitability of the company like product differentiation, reducing prices, rising prices, or cost-cutting works. This is because such actions of the company are countered by an equivalent or better action of the competitors leaving no result for the organization. Hence, the alternative available for the business leader is to find out an effective leadership model that is more customer-centered in order to gain the advantage of the change in the market conditions.

In meeting such a customer-centered business model scenario, the business leader should strive to bring about changes in the functioning of the organization that:

• Makes the organization a fully market-based and customer-centered one
• Strengthens the marketing planning strategies and the resultant effective marketing plans
• Provides adequate marketing budgets and
• Most important of all develops the marketing and sales staff to understand and coordinate their efforts towards achieving the marketing goals.

It is in the function of developing the marketing and sales staff that an effective leadership style is chosen and followed. For acquiring the required leadership quality, the business leader must fully understand the concept of marketing and it is potential. The next step is that the leader has to educate the senior management team. Each of the functional executives of the organization would be having their perception of marketing and their own contribution to the success of the marketing. It is the duty of the leader to make the people understand that all of their goals are congruent with the goal of attracting and sustaining the customer. In the words of Kotler & Westman (2006), the leader should make the followers understand that “ It is the customer, not marketing, who is more important”. It is also important that the business leader should work closely with the followers. Management is separate and distinct from leadership. Although some theorists maintain that leadership is part of the entire managerial function. Koontz and Weihrich (1998) stated that the managerial function of leading deals with the schemes of influencing the employees to work productively to achieve the goals of the organization. On other hand, Byars (1987) considers leadership as a higher form of management. A leader has the capacity to affect the manner in which the employees act and provide opinions; whereas, managers only affect the actions and decisions of the employees.

Leaders highlight the effectiveness of the processes; managers prioritize efficiency. Bjerke (1999) maintains that it is dangerous for the company to be led and managed by incapable individuals. Also, too much leadership and management have some adverse effects. Organizations must ensure that the leaders and managers work in moderation. Successful firms have illustrated the ideal combination of solid management and clever leadership.

Locke (1976), for instance, defined job satisfaction as “a pleasurable or positive emotional state resulting from the appraisal of one’s job or job experiences”, while Spector, (1997) look at it as a psychological variable that is related to the feeling of an employee about his or her job, including different variables of the job. The reward systems followed by the Company have to be rooted to the expectancy model of motivation. This will serve as a basis for the managers in deciding what reward system is suitable for the employees of the Company. The managers should keenly observe employees with their reactions in different situations or ask them of the rewards they desire. In this way, the Company will be able to find out what type of reward is being valued by the staff. Simultaneously, the managers also settle on what performance they desire so that the managers can tell them what they must do in order to be rewarded. However, the Company should ensure that the desired performance level is within the reach of the employees. This is because if employees feel that what is being asked of them is too hard, the system will not be useful at all. Motivation will still be below regardless of the organization’s proposition (Stoner et al , 1987). “A widely used HRD practice is the reward system. It is said that if an organization wants the workforce to participate in its goal-achievement, reward systems can make this happen. Reward systems should be in accordance with the oareanization’s vision and mission. Reward systems is said to be more than or beyond monetary recognition. While this system may include bonuses other material things, other non-monetary incentives may also be a better option—promotions, reassignment, verbal compliments or remarks.” (Murphy, 2003) Making the reward system a combined one as an individual based as well as team based has worked to the advantage of the Company (Gallagher et al , 2000). Larger companies provide monetary incentives and financial incentives such as pension plans with early vesting, company shareholding, and company contributions to further education, car, or home loans. The non-monetary incentives would include extra vacation days, leaves, flextime management, written commendations, and others. These incentives will enable the company to maintain a higher level of employee motivation.

Team Working

The organizational and individual culture of the employees has a large influence in shaping the attitudes and behavior of the employees. This will also affect the overall organizational performance greatly. The employees will be guided by their individual goals unless the leader can guide them to align their personal goals with the organizational goals. This calls for the formation of effective working teams by the leader. The effectiveness of the contribution by the teams will depend on the efficiency of the leader in identifying the individuals who will fit into a team properly. In addition, the leader should have the ability to motivate the team members. The success and the ability to sustain the growth in the sales and profitability of any organization depend on the ability to elicit good teamwork. Effective team building is therefore at the root of the success of any organization. Selection of good team members will ensure efficient team working. Katzenbach & Smith (1993) define a team as “ A small number of people with complementary skills who are committed to a common purpose, performance goals and approach for which they hold themselves mutually accountable.” Hackman (2002) defines a team to incorporate the features of a specific task, well-defined boundaries, clear authority-responsibility demarcations, and stability of membership at least for a reasonable period. There are some distinct advantages, which accrue to the organization from effective team working. First team working enhances the motivation level of the employees because team working empowers the employees to involve themselves in the decision-making process. This enhances the self-confidence of the team members. The collective strength of skills and experience of a team is found to surpass the boundaries of individual skills and expertise. By entrusting major operational tasks to a team consisting of chosen members, the leaders would be able to concentrate on other strategic issues of the organization. This improves the quality of the contribution from the leaders. Teams promote effective two-way communication between the leaders and individual team members; because it enables the team, members to lose their inhibitions. The development of clear goals and approaches is facilitated by the team working. For the successful functioning of the team, it is important that the team members should have increased self-confidence and at the same time, they should have confidence in the ability of the team to perform as a whole. This calls for the development of mutual trust and confidence among the team members. The leader should allow the team to “perform and learn together over time to develop real trust and confidence in each other,” (Bono & Heller, 2008).

Bob and Lloyd should understand the implications of leadership, employee motivation, and team working on the success of the proposed venture. The owners must adopt the required leadership styles and motivate employees through enabling better team working.

Bob and Lloyd will currently own the company with an initial capital contribution of £ 100,000. The company will start the venture with its owned funds. The initial contribution will be sufficient for start-up expenses and reasonable working capital. All the sales will be on a cash basis, which will enable the company to pay for the material purchases on a cash basis. Since the owners will take care of the management, sales, and purchase functions, the restaurant will not have any executive with a high salary level. This will reduce the administrative costs significantly. However, the company has to pay rental advance and buy other capital equipments necessary to start the venture. The start-up expenses for the company are:

• Kitchen and Interior £ 22,000
• Furniture £ 18,000
• Rent Advance £ 30,000
• Sales Promotion £12,000
• Initial cash £18,000
• Total £100,000

Report on the Financial Information

The business plan projects sales turnover of £ 997,500 for the first year of operations of the company Bob’s Fish & chips. During the first year, the company will make a gross profit of £ 418,950, which is 42% of the sales turnover. After the wages and other administrative expenses, the company is expected to make a net profit of £ 131,250 after a tax provision of £ 56,250 at an estimated 30%. The net margin to sales for the first year is arrived at 13.16% of sales. The business plan forecast a cash generation of £ 155,650 at the end of the first year operations, which implies the payback period for the project is less than one year. The company could achieve this profitability because it is proposed that both Bob and Lloyd will take senior positions in the company. Otherwise, the company may have to pay at least £ 36,000 per year for a general manager and £ 30,000 for a sales manager, which would have reduced the profitability and cash generation to the extent of £ 66,000 leaving a profit of £ 65,250 only. Another area where the company has saved is that the company has not borrowed any additional funds from the bank. The company proposes to operate with the initial capital contribution of £ 100,000 from the owners and therefore the business saves the interest payable on bank loans.

Accounting Concepts

Accounting is not a static system but a dynamic process that incorporates the generally accepted accounting principles (GAAP) that is evolved to suit the needs of the people who read the financial statements of any business (Business Directory, 2010). GAAP is based on the conceptual framework introduced by Financial Accounting Standards Board (FASB), an international accounting standard setting body (Horngren et al., 2005). “Accounting concept refers to the basic assumptions and rules and principles, which work as the basis of recording of business transactions and preparing accounts,” (Sridhar, 2009)

This section provides some basic details on the principles and concepts like business entity, monetary unit, going concern, cost principle, time, consistency, materiality, full disclosure, objectivity, revenue recognition and matching principle, which form the basis for applying the GAAP (Walther, 2010). “Accounting concepts are the universally accepted rules which guide the actual recording of transactions.” (NOS, 2000)

Business Entity Principle

Under this principle, from an accounting point of view the transactions of a business entity operating in any form of organisation are considered separate and distinct from that of the personal transactions. It is necessary to maintain the personal transactions separate even if the owners work in the business entity.

Monetary Unit Principle

The assumption behind this principle is that the recording of the accounting transactions would be done in the primary national monetary unit. It is the responsibility of the accounting function to record all the inflows of sales revenue and the expense outflows in the dollar terms.

Going Concern Principle

In general, it is assumed that a business entity will remain in operation for an indefinite period (Philipo, 2009). This is the principle behind the going concern concept. The continuity of business assumes that the cost of the assets engaged in the business will be recovered over their useful life by way of profits from the business.

Cost Principle

This principle is closely associated with the monetary unit principle and it requires that the value of business transactions need to be recorded at the actual or equivalent cash cost (Gordon, 2010). This principle is also related to stable dollar assumption (Accounting Coach, 2004). When the economy of any country suffers from continued periods of inflation or deflation comparing the revenues and earnings for different years would be meaningless if it is assumed that the dollar will have a stable value. However, it would make sense to express the value of the inventories for resale as well as some items of income and some other balance sheet items in terms of current dollar value rather than on historic dollar value.

Time Period Principle

This principle requires that the accounting transactions be recorded and analyzed for reporting the financial status and profitability of the business operations over a specific period of operation.

Conservatism Principle

This principle requires that the balance sheet items like assets should not be overstated and the value of liabilities should not be understated.

Consistency Principle

Under consistency principle, the financial statements should be prepared applying the same accounting principles from one period to another so that the statements become comparable over different periods.

Materiality Concept

The materiality concept implies that all items having value, which are important and material should be reported in a correct way so that the readers of the financial statements can take proper decisions.

Full Disclosure Principle

This principle states that any future event, which is likely to have a major economic impact on the financial position of the company, should be disclosed fully to the potential readers of the financial statements.

Objectivity Principle

This principle implies that all the accounting transactions must have some basic evidence or documentation as a support for the transaction in question.

Matching Principle

Based on the accrual basis of accounting, the matching principle requires that for each accounting period, it is necessary that all the sales revenue received be recognised irrespective of the fact that whether the payment is received or not (Van Horne, 2004).

Revenue Recognition

This is a basic accounting principle in which a distinction is made between the cash basis accounting and accrual basis. Under cash, basis revenues of the business are accounted when cash is received irrespective of when the goods are delivered or services performed (Ross et al., 2003). Under accrual system, revenues are accounted only when they become due or realized irrespective of the time at which cash is received.

Relationships between People, Finance and Marketing

Roles and functions of hr.

Human Resources department assumes a significant role in the growth of any organization including not-for profit organizations. HR function becomes significant in because the success of any business organization depends on the performance of its human capital. According to Lawler & Mohrman (2003), HR plays a strategic role in sustaining the competitive advantage by any organization. Traditionally HR was known as personnel department, which was involved in the individual employee relationships. Now there has been a complete change in the concept, and HR department undertakes a variety of functions. These include (i) recruitment and selection, (ii) training and orientation of the new employees, (iii) performance evaluation of the employees, (iv) fixing employee compensation and (v) maintaining a harmonious relationship with the employees. Pietersen & Engelbrecht (2005) identify the strategic involvement of HR in promoting the business-related competencies of the organization. HR contributes to the development and growth of the firm by identifying the training needs of the employees and arranging for the necessary training. This function helps the organization in two ways. First by enabling the employees to gain new skills, the employees can perform better towards achievement of the organizational objectives. On the personal front, the employees, when provided with the training feel motivated as the training increases his/her personal professional skills. This in turn increases employee commitment towards the organization and reduces employee turnover. This function of HR therefore assumes a strategic importance. Ulrich (1997) points out four areas where HR can help organization improve its performance. HR becomes a part of the management of the company assuming the important role of formulating and implementing strategies in the area of staffing function. By identifying training needs and arranging for professional training HR contributes to the improved efficiency and productivity of the employees, which would result in cost reduction and profit maximization by the company. HR does another important function of identifying employee grievances and redresses them immediately in the best possible ways so that there is perfect understanding and relationship between the employees and the organization. HR becomes an important change agent whenever the organization wishes to introduce changes in the process or procedures. Always, HR will be given the responsibility to educate the organizational members on the advantages and necessity of proposed changes.

Role and Functions of Finance

In the competitive business environment of the present day, the finance function has been of greater value to an organization. The enlarged role of the function has shifted the focus of the finance function from the traditional bookkeeping to a number of other areas including the provision of timely and accurate information to the senior management to take well-informed business decisions affecting the growth of the organization. The finance function traditionally has been more concerned with the monitoring of the utilization of tangible assets of the organization such as cash, real estate and machinery and equipments. Later on with the advent of globalization and increased cross-border transaction, finance department assumed the responsibility for the treasury functions including foreign exchange management, which emerged as an important function.

Growing need to comply with various legislative requirements, which are mandatory on the part of the companies enhanced the role of finance function in the working of the modern day corporations. With the continuous evolution of the economies and the proliferation of information and communication technology, the role of finance function within an organization has undergone complete change. Now the finance function is expected to look after the Enterprise Resource Planning (ERP) implementations and take other reporting roles. The finance function has become more efficient with the facilities for transaction processing. This has enabled the finance professionals to expand their role and spend time in taking part in the decision-making process of the organization. It is no more just processing, reconciling and preparing the financial statements of the organization. With the availability of advanced technological tools, the finance function has evolved into a coaching role. Under this role, the finance personnel have been made responsible for transferring the knowledge and skills to decision-makers (Schroeck, 2001). According to Altius Directory (2006), finance function controls the assets of an organization against business risks; creates a strategic framework for monitoring the efficiency of finance process; acts as a strategic advisor for aligning the organizational goals by evaluating the organizational performance in terms of financial gains, and acts as a change agent in the process of achieving the overall organizational objectives.

Role and Functions of Marketing

In any business organization, marketing assumes an important role as the business would be able to generate cash and grow only by increasing its sales through sound marketing strategies. In order that the firm is able to assess the time and methods of introducing the new product, a marketing strategy defining the marketing structure should be evolved. This strategy need to be arrived at after a careful analysis of the existing conditions of the market vis-à-vis the available products and their strengths and weaknesses in comparison to the company’s products. Marketing strategy is most effective when it is made an integral part of the overall corporate strategy detailing how the organization will engage customers, prospects and the competition in the market arena for success. Achieving a sustainable competitive advantage is quite possible by suitably evolving a marketing strategy. Either the firm may decide on a direct market concept or it may decide to engage an indirect marketing technique depending on the product capabilities. The marketing function varies enormously according to the nature of the business and organization and the market, which it serves. The marketing function is responsible for the four Ps of marketing – product, price, place and promotion. McCarthy, (1960) introduced the 4ps into the marketing mix with the thinking that these four groups of elements will influence the demand for the product (Baker, 2003). Although essential for the success of any business, the marketing function need not be seen as the largest or most important function. “In fact, in a truly marketing-oriented organization the need for a specialized marketing is far less than it is in a sales or production dominated company.” (Baker, 2003, p 10)

Consumer behaviour is one of the important determinants of marketing strategies. Blackwell et al., (2001) define consumer behaviour as activities undertaken by people, when obtaining, consuming and disposing of products or services (p 6). Consumer behaviour with respect to certain product or service is analyzed to ascertain the response of the potential customers to different advertising strategies of an organization. Analysis of consumer behaviour is undertaken to enable the organization to create and promote unique selling point to its target audience so that the company can achieve its marketing and advertising goals. The company must have a thorough understanding of the consumer behaviour in order to maximize the return on its investment on marketing and advertising.

Interaction among HR, Finance and Marketing

When the relative importance of the three functions of HR, finance and marketing, is considered, it can be said that HR assumes a significant role in the functioning of an organization. This is because, it is the primary responsibility of HR to identify and appoint the right talents, so that the organization can function efficiently and effectively.

Furthermore, it is the responsibility of HR to ensure that the personnel appointed are motivated and remain committed to the organization (Caudron, 1996).

In the process of ensuring the motivation of employees by proper rewards and recognition, finance function comes to the assistance of HR, by providing the necessary information on productivity, earnings and consumer satisfaction. The information provided by finance function helps HR to evaluate the performance of the employees precisely and suggest suitable rewards in the form of pay rises and promotions. Such information also helps the marketing department to assess the performance of the marketing staff from the perspective of customer satisfaction and improve on areas where deficiencies are found. This flow of information among the different functions underlines the interrelationship among these functions. Such a close coordination will help the organization improve its overall performance. However, in some of the organization a close harmony and relationship does not exist between the finance and HR functions. Perhaps this is due to the nature of finance people questioning the actions of every other department to meet their responsibility of safeguarding the tangible assets of the company and ensuring their proper utilization.

According to Boudreau & Ramstad (2002), while finance and marketing functions are able to produce information, which brings out the overall organizational efficiency and performance, HR function currently does not possess decision science standards as possessed by finance and marketing functions. This places HR function at a level lower than the other two. However, a proper integration between all the three functions is vitally important for the success of an organization. “The HR function creates tangible value in organizations by focusing primarily on delivery of HR practices (staffing, development, compensation, labor relations, etc.), based on professional and often research-based principles” (Bourdreau, 2005).

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Starting a Fish and Chips Business in the United Kingdom

• Starting a Fish and Chips…

Beginner’s Guide on Starting a Fish and Chips Business in the United Kingdom

A fish and chips shop can be as simple as putting some fish and chips on the menu. But making a profit from it isn’t easy. You will need to consider your pricing strategy, running costs, and overall operational efficiency to make money. This article will help you get a good idea about starting a fish and chips business, including the guide to company registration in the UK .

What is a Fish and Chips Shop?

A fish and chip shop is a British type of takeaway that offers customers the opportunity to purchase fresh, cooked fish, chips, and other prepared foods. Consumers can choose from several fish and chip shops throughout the U.K. These shops generally provide takeaway service and several other services, such as supermarkets and petrol stations. Family businesses run the majority of such shops, with the main kitchen area being used to store fish and other prepared foods. As well as providing this service, some fish and chip shops also offer other types of catering services, such as pizza, to take into account different tastes and traditions within various communities within the U.K.

Although the initial idea of a fish and chip shop may seem mundane, the establishment has been consistently evolving. It is no longer just a conventional takeaway shop with the customers going in and ordering food. Today fish and chip shops offer everything from sandwiches to curry houses, all while catering to a local population primarily of fish-eaters. They understand that convenience is critical when serving patrons, where their choice may vary depending on where they concern their local fish pond or lake.

How to Start a Fish and Chips Business?

Step 1: determine which type of business.

The first step to starting a fish and chips business is a plan. When launching your chip shop, you need to choose between two business models: a small takeout or a sit-down restaurant. Your choice will significantly impact how well your business runs and where it goes from there. Your business model determines how much you can charge, both now and in the future. It influences the products and services you offer, as well as the prices you can trust. Choosing the suitable business model for your fish chip business will give you plenty of profit while minimizing risk.

Takeout chip shops are very traditional, but they are also much quicker. Most takeout restaurants have an extensive menu but very little space. Therefore, they can’t serve customers quicker than they can display their goods. And since customers usually buy similar things, it is easier for the staff to help them quickly. In addition, takeout restaurant owners have less turnover since employees are busy serving customers instead of taking orders from customers or working tables. So, takeout shops with great takeout can have much larger profits than those that rely on little else but cheap food.

A sit-down restaurant does require more overhead, mainly because you need ample space. The difference is that your customers will order at the counter directly from the chef rather than having their food delivered to them. To know more about these business models, you may visit the corporate service provider platform and ask for assistance.

Step 2: Pick the Perfect Location

There are several factors you have to consider when deciding where to open a small business. The location affects the type of food establishment you can open, the quality of service you provide, and even how successful it will be. However, the most critical factor is whether or not customers will move there. Most people will only consider a business when they have already visited it and liked what they saw. If you want to start a business in a foreign location, it’s essential that you know which factors are crucial for attracting customers in that market. The most apparent factors are the cost of living and accessibility of transportation.

Step 3: Get the Equipment

Regardless of the business plan, all fish and chip shops need similar equipment. You’ll need:

• Commercial fryers
• Large fridges
• Display fridges for drinks and snacks
• Heated food display
• A large storage freezer
• A potato-peeling machine
• Chip scuttle
• Batter mixer
• A point-of-sale system

Step 4: Handle the Legal Necessities

There are many legalities in starting any kind of business, let alone a restaurant or food-delivery business. You’ll need to obtain the following:

• A business structure. For a restaurant, it’s possible to form an LLC. This helps protect your wealth, prevents your company from being taxed twice, and protects you from lawsuits.
• A state and federal tax identification number. This can be obtained through the IRS. It allows you to pay taxes on your business’s income properly.
• A business license. You can obtain this from your local government, but you need to have proper insurance.

Step 5: Handle the Food Permits and Licensing

Before starting your restaurant, it’s good to know the basics of food safety and business licensing. Moreover, it’s a good idea to handle the necessary paperwork for several vital steps—from starting up to employing kitchen staff. What might seem like an unbelievable amount of paperwork can be handled relatively quickly if you have the right resources at your disposal. The more you learn about the industry, the easier it will be to start and operate a successful food business. Getting these permits and licenses would be a lot easier with the help of company incorporation services in the UK .

• Music License Background music licensing is an area of the advertising law that concerns the use of music in establishments where customers are likely to buy products or services using music as part of their purchase decision. It is licensed to publishers and businesses who pay a license fee to use it in the U.K.
• Alcohol licensing Restaurant owners and managers in the United Kingdom must obtain an alcohol license to serve alcohol in their restaurants.
• Food safety The food safety act aims to provide consumers with easy-to-understand information on how to sort out products that contain potentially hazardous food. You’ll have to register your food business with the local authority as soon as you begin selling prepared food products for consumption on an ongoing basis. This will ensure that proper food safety procedures are carried out and that any potential risk to consumers isn’t passed on to them when they buy your prepared food from the shops around you.

Step 6: Find Quality Suppliers

If the supply chain is managed correctly, it’s easier to rely on a single supplier for your fish supplies. That means choosing suppliers with a track record of excellence and customer service beyond just replacing fish that have died or run out of digestive juices. When you buy fish from sustainable sources, you support a powerful economic force. The faster this process is completed, the more efficiently nature recycles biological waste materials while lowering public awareness of fish consumption.

Finding suitable suppliers is essential to keeping your fish-fry businesses healthy. Any company with more than three employees will need a supplier, and the fish tank industry is massive, involving thousands of suppliers. If you’re thinking of starting your own fish tank business, you need to be aware of the numerous risks involved and how much you can lose. Getting suitable suppliers will also help you ensure that your business has a good supply line of fish each year. Finding wholesalers means getting access to the fish from multiple sources; this is where data analytics comes in. By working with suppliers, you can see if they have poor quality or are mislabelling their product.

Step 7: Establish a Marketing Plan

Marketing is as essential as the fish-fry business itself. If you don’t create and promote your brand, then no one else will. Marketing is about getting people to know about your business and coming here for reasons other than just the wonderful experience you’ve created. Thus, a crucial part of creating a solid marketing plan is defining your goals and establishing a marketing campaign that will move you towards achieving those goals. Your goals could be anything from generating awareness and bringing in customers to selling your products and services.

Are you still not sure about starting a fish and chips business or not? If yes, you may contact 3E Accounting for assistance.

How to Start a Fish and Chip Shop in UK [Business Plan]

By: Author Tony Martins Ajaero

A fish and chip shop in the UK is usually a small limited-service shop that prepares and sells fish and chips, coffee, and other breakfast items. A fish and chip shop in the UK can be as small as a single location or as big as a national chain.

A fish and chip shop is a restaurant that specializes in selling fish and chips. Usually, fish and chip shops provide takeaway service, although some have seating facilities. Fish and chips is a popular hot dish consisting of fried fish in crispy batter, served with chips (French fries or wedges).

Available statistics show that British consumers eat approximately 382 million meals from fish & chip shops every year, including 167 million portions of fish & chips, the traditional favorite. 80% of the people visit fish & chip shops at least once a year, and 22% of the people visit fish & chip shops every week. Fish-and-chip outlets sell roughly 25% of all the white fish consumed in the United Kingdom, and 10% of all potatoes.

Steps on How to Start a Fish and Chip Shop in the UK

Conduct market research.

If you are considering starting a fish and chips shop in the UK, you would need reliable market research to be able to maximize profits from the business. The first step in the market research process for your fish and chips shop in the UK should be to develop market-based research questions in line with your overall business goal and objective.

In this regard, you should source information that will help you maximize your business, give you a clue of what your potential market will be looking out for from a fish and chips shop in the UK, and also help you operate your fish and chip shop in the UK with less stress.

a. Who is the Target Market for a Fish and Chips Shop in the UK?

If you are thinking of opening a fish and chips shop in the UK then you should make target demographics all-encompassing. It should include children, students, migrants, entrepreneurs, sportsmen and women, tourists, and every adult in the neighborhood where your fish and chip shop will be located.

b. Is Fish and Chip Shop in the UK a Profitable Business?

Yes, a fish and chip shop in the UK is very profitable. An HMRC estimate of the fish and chips industry states that you might expect gross profits of around 50% – where some achieve more, others less. This comes down to economic preparation, effective portion control, and reasonable pricing.

c. Are There Existing Niches in the Industry?

No, there are no existing niches when it comes to fish and chips shops in the UK

d. Who are the Major Competitors?

• Anstruther Fish Bar, Anstruther
• Poppie’s Fish & Chips, London
• Frankie’s Fish and Chips, Shetland
• Cromer’s, St Andrews
• Harbourside Fish and Chips, Plymouth
• Henley’s of Wivenhoe, Wivenhoe
• Papa’s Barn, Ditton
• Quayside, Whitby
• Kerbisher & Malt, London
• Simpsons Fish and Chips, Cheltenham
• Rockfish, Dartmouth
• Whitehead’s Fish and Chips, Hornsea
• Tailend, St Andrews
• Colman’s Fish and Chips Shop, South Shields
• Thornton Fisheries, Thornton-Cleveleys
• The Bay, Stonehaven
• Oban Fish and Chips, Oban
• L’Alba D’Oro, Edinburgh
• Ossie’s Fish Bar, Faversham
• Aldeburgh Fish and Chips, Aldeburgh
• The Scallop Shell, Bath
• Harry’s Fish Bar, Neath
• No1 Cromer, Cromer.

e. Are There City Regulations or Zoning Laws for Fish and Chip Shop in the UK?

Yes, there are regulations and zoning laws for fish and chip shops in the UK. The Food Standards Agency (FSA) is responsible for food safety and food hygiene in England, Wales, and Northern Ireland. FSA is a non-ministerial department, supported by 7 agencies and public bodies.

Under the Food Safety Act, 1990 and the General Food Law Regulation 178/2002 you are responsible for ensuring that the food customers eat is safe and the quality is what they expect. This means you should understand exactly what foods can cause problems.

f. Is There a Franchise for Fish and Chips Shop in the UK?

Yes, there are franchise opportunities for fish and chip shops in the UK, and here are some of them;

• Howe And Co Fish and Chips
• London Fish and Chips
• Frankly Fish and Chips Ltd.
• Famous Fish & Chips
• British fish-and-chips concept

g. What Do You Need to Start a Fish and Chip Shop in the UK?

• A Feasibility Report
• Business and Marketing Plans
• Business Licenses and Permits
• A Good Shop facility
• HM Revenue and Customs (HMRC) for Value Added Tax (VAT) and/or Pay As You Earn (PAYE)
• A Corporate Bank Account
• Supply of ingredients
• Startup Capital

Choose a Memorable Business Name

When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.

Some of the catchy business name ideas suitable for a fish and chip shop business are;

Creative Fish and Chip Shop Business Name ideas for UK

• Hunger Zone© Fish and Chip Shop, Ltd.
• Cut Chips® Fish and Chip Shop
• Tandy Gorana© Fish and Chip Shop
• Lauretta McKenzie® Fish and Chip Shop, Ltd.
• Fish Way™ Fish and Chip Shop
• Francis Highlander™ Fish and Chip Shop, Ltd.
• All Day© Fish and Chip Shop, Ltd
• Donie Silvans® Fish and Chip Shop.
• George Finney© Fish and Chip Shop, Ltd.
• Day Fresh© Fish and Chip Shop
• Larry Duncan® Fish and Chip Shop, Ltd.
• King’s Chef® Fish and Chip Shop, Ltd.
• Lowey Martins™ Fish and Chip Shop, Ltd.
• Beckham Pekham© Fish and Chip Shop
• Alex Core® Fish and Chip Shop
• Chelsea Chips™ Fish and Chip Shop
• Rees Morgan™ Fish and Chip Shop
• Big Chips© Fish and Chip Shop
• Tripple Cray® Fish and Chip Shop, Ltd.
• Plaxton Foods™ Fish and Chip Shop

Register Your Business

A. what type of business structure is best for fish and chip shops in the uk.

The United Kingdom has a wide array of options you can choose from if you are looking for a business structure to build your business on. The most important thing is that you should select a business structure that will best serve your overall business vision and mission.

In the UK, you can choose to start your business as a Sole trader, Limited company, Private limited company (LTD or Ltd), a Public limited company (PLC), a Limited liability partnership (LLP), or a Guarantee Company (LBG).

b. Steps to Register a Business in the UK

One of the most important steps you should take when starting a business in the UK is to register the business name with the regulating authority. You can register your new business at Companies House on GOV.UK. Please note that the entire process will take you about 30 minutes if you have all the required details ready before approaching them.

In the United Kingdom, you can register your business online but it will cost you £12 to register a company online (you can pay this fee via PayPal, debit card, or credit card). It takes on average 24hrs for your company to be registered.

To register a business in the UK, you will need to submit the following documents and information:

• A company name
• Address of the company
• One or more directors’ names and details (if it is just you, that is fine).
• Details of the company shares, shareholding, and shareholders (with at least one shareholder).
• A Memorandum and articles of association. This is a standard document that shareholders create and agree to that outlines the company’s written rules, it’s usually very standardized unless you have specific needs.
• Detailed information on anyone who owns a significant interest or control in the company (this means anyone who owns 25% or more shares or voting rights in the company).

c. What Type of License is Needed to Open a Fish and Chip Shop in the UK?

• General Business License
• Health and Safety Permit
• Food Handlers’ License
• Zonal Permits
• Signage Permit
• Operational State Facility Inspections
• A music license if you want to play recorded music in your fish and chip shop
• A dumpster placement permit that specifies where you can put your dumpster outside your fish and chip shop

d. What Type of Certification is Needed to Open a Fish and Chip Shop in the UK?

You don’t need any certifications to open a fish and chip shop in the UK.

e. What Documents are Needed to Open a Fish and Chip Shop in the UK?

These are some of the basic legal documents you are expected to have in place if you want to legally run a fish and chip shop in the UK;

• Business and liability insurance
• Council Permit
• State Permit and Building Approval
• Certificate of Incorporation
• Business License
• Business Plan
• Employment Agreement (offer letters)
• Insurance Policy
• Online Terms of Use
• Online Privacy Policy Document
• Contract Document
• Company Bylaws

f. Do You Need a Trademark, Copyright, or Patent?

If you are considering opening a fish and chip shop in the UK, usually you may not have any need to file for intellectual property protection or trademark. This is because the nature of the business makes it possible for you to successfully run it without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.

Cost Analysis and Budgeting

A. how much does it cost to start a fish and chip shop in the uk.

There is no clear-cut startup cost for a fish and chip shop in the UK, but available data shows that the cost of starting a fish and chip shop in the UK ranges between £25,000 and £120,000. But if you intend to buy a franchise, then the average turnkey investment is approximately £150,000.

Have it in mind that the costs involved in opening a fish and chip shop in the UK can run into tens of thousands of pounds, depending on your business size. Some of your biggest expenses will include rent, equipment costs, and employee salaries (if hiring employees).

b. What are the Costs Involved in Starting a Fish and Chip Shop in the UK

• Business Registration Fees – £12.
• Legal expenses for obtaining licenses and permits – £1,300.
• Marketing, Branding, and Promotions – £1,000.
• Business Consultant Fee – £2,000.
• Insurance – £1,400.
• Rent/Lease – £35,000.
• Other start-up expenses include commercial satellite TV subscriptions, stationery (£500), and phone and utility deposits (£1,800).
• Operational Cost (salaries of employees, payments of bills et al) – £30,000
• Start-up Inventory – £7,500
• Store Equipment (cash register, security, ventilation, signage) – £1,750
• Furnishing and Equipping the Shop and Kitchen – £50,000
• Website: £600
• Opening party: £2,000
• Miscellaneous: £1,500

c. What Factors Determine the Cost of Opening a Fish and Chip Shop in the UK?

• The size of fish and chip shop
• The choice of location
• The required licenses and permits
• The type of facility
• The types of related products retailed in the shop
• The cost for branding, promotion, and marketing the fish and chip shop
• The cost for furnishing and equipping the fish and chip facility
• The cost of insurance policy covers
• The cost for registering the business
• Source of your supplies and ongoing expenses
• Cost of recruiting and training your staff
• The cost for the purchase and customizing of uniforms
• The cost for the grand opening of the fish and chip shop in the UK

d. Do You Need to Build a Facility? If YES, How Much Will It Cost?

It is not compulsory to build a new facility for your fish and chip shop in the UK, but if you have the required finance, it will pay you to build your own facility. The truth is that building or reconstructing a facility will help you come up with a facility that will perfectly fit into your overall business goals and vision.

e. What are the Ongoing Expenses of a Fish and Chip Shop in the UK?

• Supplies (inventory expenses)
• Utility bills (internet subscriptions, phone bills, signage and software renewal fees et al)
• Salaries of employees

f. What is the Average Salary of your Staff?

• Shop Manager (Owner) – $£35,000 Per Year
• Accountant – £$22,630,000 Per Year
• Chefs – £20,000 Per Year
• Delivery Guys – £18,100 Per Year
• Cleaners – £12,000 Per Year
• Security Guard -£12,000 Per Year

g. How Do You Get Funding to Start a Fish and Chip Shop in the UK

• Raising money from personal savings and sale of personal stocks and properties
• Raising money from investors and business partners
• Sell shares to interested investors
• Applying for a loan from your bank/banks
• Source for soft loans from your family members and friends.

Write a Business Plan

A. executive summary.

King’s Chef® Fish and Chip Shop, Ltd. is a registered fish and chip shop in the UK that will be located in one of the busiest business and residential estates in Prestwich, Manchester. We have been able to lease a shop facility that is big enough for the kind of fish and chip shop we intend to launch. The shop facility is located in a corner piece property directly opposite the largest shopping mall in Prestwich, Manchester.

b. Products and Service

• Different types of fish and chips
• Beverages and water

c. Mission Statement

Our mission is to establish a fish and chip shop in Prestwich, Manchester whose fish and chips will be celebrated around the world for their crunchy, chewy texture and refined taste. We want to be one of the top 10 largest fish and chips brands in the United Kingdom.

Vision Statement

Our vision is to build a business that is beyond selling fish and chips but that will be a global brand.

d. Goals and Objectives

The goals and objectives of a fish and chip shop in the UK are to provide a retail outlet where patrons can go to buy or order fish and chips if the shop has delivery options.

e. Organizational Structure

• Shop Manager (Owner)
• Delivery Guys
• Security Guard

Marketing Plan

A. swot analysis.

• Ideal location for a fish and chip shop in the UK
• Highly experienced and qualified employees and management
• Access to finance from business partners
• Unique bagel recipe.
• Reliable and efficient inventory management system.
• Financial constraints may restrict the publicity and branding of the business
• A new business that will be competing with well-established fish and chip shops in the UK.
• Inability to retain our highly experienced employees longer than we want during the teething stage of the business.

Opportunities:

• Fish and Chips are Popular in the UK
• It’s quite affordable
• Ability to Cater to Everyone
• It’s a Niche Restaurant Type
• It’s Easier to Franchise
• You Can Be More Creative
• More Financial Aid Options
• Online market, new services, new technology, and of course the opening of new markets.
• The arrival of a new fish and chip shop within our market space
• Economic uncertainty
• Liability problems
• The Food Standards Agency (FSA) in the UK could change its regulatory status and decide to enforce strict regulations that can strangulate new businesses like ours.

b. How Do Fish and chip shops in the UK Make Money?

Fish and chip shops in the UK make money by selling the following products;

c. Payment Options

• Payment with cash
• Payment via credit cards
• Payment via online bank transfer
• Payment via mobile money transfer

d. Sales & Advertising Strategies

• Introduce your fish and chip shop by sending introductory letters alongside your brochure to churches, households, sports organizations, gyms, schools, and other key stakeholders throughout the city where your fish and chip shop is located.
• Advertise on the internet on blogs and forums, and also on social media like Twitter, Facebook, LinkedIn to get your message across
• Create a basic website for your business to give your business an online presence
• Directly market your products.
• Join local fish and chip shop associations for industry trends and tips
• Provide discount days for your customers
• Advertise our business in community-based newspapers, local TV and radio stations
• List your business on yellow pages ads (local directories)
• Encourage the use of word-of-mouth marketing (referrals)

Financial Projection

A. how much should you charge for your product/service.

And the average price of a single serving of fish and chips in the U.K. is currently £3.30 a 35.8% increase in price over the last decade. However, in London, the average cost of a portion of fish and chips is £5.00.

b. How Much Profit Do Fish and Chip Shop Owners in the UK Make a Year?

On average, a fish and chip shop owner rakes in nothing less than £75k revenue and £10-30k net profit per year.

c. What Factors Determine the Amount of Profit to Be Made?

• The capacity of the fish and chip shop
• The location of the fish and chip shop
• The management style of the fish and chip shop
• The business approach of the fish and chip shop
• The advertising and marketing strategies adopted by the fish and chip shop
• The number of years the fish and chip shop is in business

d. What is the Profit Margin of a Fish and Chip Shop in the UK?

The profit margin of a fish and chip shop in the UK is not fixed. The average portion of fish and chips costs £4.50 and gross profit margins are typically between 50% and 60%.

e. What is the Sales Forecast?

Below is the sales forecast for a fish and chip shop in the UK. It is based on the location of the business and other factors as it relates to such startups in the United States;

• First Fiscal Year: £240,000
• Second Fiscal Year: £300,000
• Third Fiscal Year: £350,000

Set Up your Shop

A. how do you choose a perfect location for fish and chip shop in the uk.

• The demography of the location especially as it relates to people that eat fish and chips regularly
• The demand for fish and chips in the location
• The purchasing power of businesses and residents of the location
• Accessibility of the location
• The number of fish and chip shops, and related businesses in the location
• The local laws and regulations in the community/state
• Traffic, parking and security et al

b. What State and City are Best to Open a Fish and Chip Shop in the UK?

• Auckley, South Yorkshire
• Dorchester, Dorset
• Ammanford, Carmarthenshire
• Prestwich, Manchester
• Bradford, West Yorkshire
• Birmingham-Wolverhampton
• Leeds-Bradford
• Little Horwood, Buckinghamshire
• Southampton-Portsmouth

c. What Equipment is Needed to Operate a Fish and Chip Shop in the UK?

• Deep Fryers
• Industrial Oven
• Chips and fish Cutters.
• Sauce ladles & spoons.
• Chips box trolleys.
• Sauce dispensers
• Fish and chips boxes
• Heat-resistant gloves
• Fish and chips delivery bag.

Hire Employees

When it comes to hiring employees for a standard fish and chip shop in the UK, you should make plans to hire a competent shop manager (you can occupy this position), account clerk (cashier), chefs, delivery guys, cleaners, and security guard.

Launch the Business Proper

No fish and chip shop in the UK is opened without first organizing a party to officially launch the business. You can choose to do a soft opening if you are operating on a low budget or you can go for a grand opening party. The bottom line is that with a proper launching of the fish and chip shop in the UK, you will officially inform people that your fish and chip shop is open for business.

a. What Makes a Fish and Chip Shop in the UK Successful?

• Choose a good location to launch the business
• Make available varieties of fish and chips (give your customers options)
• Throw a party before officially opening the fish and chip shop
• Be deliberate with your marketing sales approach
• Encourage the use of word of mouth to promote your fish and chip shop
• Leverage all available online and offline platforms to promote your fish and chip shop.

b. What Happens During a Typical Day at a Fish and Chip Shop?

A typical day at a fish and chip shop in the UK begins with the owner frying fish and chips, brewing coffee, and preparing other food items. As the morning progresses, everything about the business picks up and business owners move from prepping food and drinks to serving customers. As business becomes slower later in the day, work tends to shift towards cleaning and getting ready for the next day.

c. What Skills and Experience Do You Need to Build a Fish and Chip Shop?

• Excellent culinary skills
• Excellent customer services skills
• Interpersonal skill
• Accounting and bookkeeping skills
• Business management skills
• Bargaining skill
• Work experience in a fish and chip shop
• Experience in managing people
• Experience in business administration
• Experience in making different types of chips.

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Fish & Chips

Everything you   need to open a shop, how to: opening a fish & chip shop.

• Writing a Business Plan
• Finding Suppliers
• Design & Fitout
• Council Approvals
• Choosing Equipment
• Payment Methods - financing
• Regulations
• Naming/Branding
• Hiring Staff

1. Location

2. writing a business plan, 3. finding suppliers, 4. design & fit-out, 5. council approvals.

• Food Business License
• Food Safety Supervisor Notification
• Council Inspection
• Commercial Character Building
• Planning Approval
• Building Approval
• Advertising

I'm opening a new shop!

I need an upgrade.

6. Choosing Equipment

• Large fridges – for keeping fish fresh, these range in sizes depending on your needs,
• Deep Fryer – A staple in every Fish & Chip Shop,
• A Grill or Stove – For non-deep-fried items,
• Chip Scuttle – A hygienic unit for storing freshly made chips,
• Potato Peeling Machine – For peeling the mass of potatoes for chips a machine can lift some of that burden,
• Batter Mixer – To mix the large quantities of batter you’ll need,
• Heated food display – To display freshly fried fish and other produce to customers,
• Storage Freezer – A large storage freezer is essential for all of the fresh fish and produce you’ll need to keep backed up,
• Utensils & smallwares – Think scoops, tongs, knives, salt and vinegar bottles,
• Scrap bin – To dispose of any unwanted or unsuitable scraps and to help you keep the workspace clean and tidy,
• Food storage bins – It's important you date your food and ensure it stays at consistent safe temperatures,
• Point of Sale systems – To process sales/orders,
• Storage Shelving/Racks – Dunnage racks & shelving can make organising your produce easy, think about how you will store all of your tools, equipment and food.

7. Payment Methods & Financing

8. regulations, 9. naming/branding, 10. hiring staff.

Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Fishing Supplies and Fly Shop Business Plan

Start your own fishing supplies and fly shop business plan

Kingfishers

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Kingfishers is a retail Fly Shop offering supplies, guided tours, and fishing/hunting cabins to Anglers and Hunters that come to our state from all over the world. We are centrally located in the middle of this famous area, on Highway frontage on one of the busiest highways. We are in a prime location to succeed, as we make an excellent base camp and meeting place.  

As new owners, Ausable Wulff and Brassie Nymph are purchasing a mildly successful fly shop, remodeling it, re-packaging it, and turning it into a successful destination location for fly fishers across the south.

Our competitive edge is tremendous. Our location, our advertising techniques, and unique customer “interest points” give us a superb edge in advertising. Our expertise in fly fishing these particular rivers lets us stock the most relevant supplies and provide our customers with expert advice so they can truly enjoy their fishing vacations. Our welcoming and supportive attitude towards even novice fisherman will turn first-time visitors into repeat customers. In addition, we offer not just lodging, but some of the nicest and most unique lodging in the area, at very competitive rates. We are on the the travel route between 4 major blue ribbon rivers, and the single most famous Trout River in the world. The keys to our success lie in our great location, the ambiance of our store, and most importantly, our attitude.

This plan will show what the business needs to start its successful venture, and how we plan on doing it. It shows that even using conservative projections, the company will have positive cash flows, tremendous gross margins of over 50%, and steady/solid growth. We will show a modest profit in the first year, and our profits increase steadily. Our projections are based on the past performance of the business under its previous owner, who willingly admits that he has not maximized the profit potential of the business. Based on these conservative projections, we will be ahead of the industry standard in almost every aspect. 

In order to fund the purchase, renovation, and restocking of the business, the owners are contributing $64,000. We are also seeking a 10-year loan of $513,000, secured with the owners’ collateral (3 houses), at an 8% interest rate.

1.1 Objectives

We have several key objectives to complete to bring the business back to the level of success experienced in the past, and then maximize the revenue and profitability for today. To accomplish this, our objectives are:

• To double the number of customers that walk through the door the first year through use of advertising and Web presence, and increase customer traffic by 20% each year for five years.
• To increase floor sales by 30% by remodeling the retail space and re merchandising the products conducive to flow patterns, making it more customer and “sales” friendly.  
• To take full advantage of all revenue sources in the geographic area by offering Hunting products to the substantiated large number of hunters in the area during the fall and winter months, increasing revenue by at least 25% the first year, 33% the second year, and 40% the third year. 
• To reinstate the guide service for anglers, booking a minimum of 125 trips the first year using independently contracted guides and 1 employed guide, 250 the second year by using independently contracted guides and 1-2 employed guides, and 300+ the third year by using independently contracted and 1-2 employed guides under the Kingfishers Outfitters’ License. We will also increase revenue and gain market share by renting 2-3 drift boats to anglers that prefer to forego professional guide services. 
• To gain market share and increase current revenues 50-60% by offering quality lodging at competitive rates in the most advantageous location possible for hunters and anglers.  We would accomplish this by building 5 custom log cabins the first year, and adding one cabin per year for three years starting in Year 3.  By doing this we will increase revenues of both guide trips/product sales and lodging, as each aspect will complement the other.

1.2 Mission

To provide an Angler’s and Outdoorsman’s shop where the customer is the priority and arrogance is left at the door… where patience is a practice and everyone we meet is a friend… where questions are answered without demeaning glances, and cold stares are unheard of… where you are asked to stay for a cup of coffee rather than just asked for your money and shown the door. Kingfishers is dedicated to providing Anglers and Hunters alike with the equipment that they want, the knowledge that they need, and experiences that make them want to come back.

1.3 Keys to Success

In the retail Fly Shop and Hunting Store business there are 4 main keys to success:

• Location: We are centrally located and within minutes of 5 major Trout Rivers and 4,000 square miles of public land.  We are on a main highway that links Yellowstone National Park and Glacier National Park, and the highway that leads to one of our states biggest tourist attractions.
• Quality/Variety of products and services:   We offer both top-quality and budget-priced products to both anglers and hunters; as well as guide services, boat rentals, and lodging.  We also offer products and services unique to this shop.
• Atmosphere: Our store is built in a restored rustic log building, which symbolizes our state and what our state stands for.  It has a spacious, warm ambiance, and offers a comforting atmosphere conducive to stress-free sales.
• Visibility/Marketing:  Kingfishers is located on one of the busiest highways in the southwest portion of our state.  3000-4000 vehicles pass by the store each day during the spring, summer and fall months.  We will use both passive (billboards etc) and active (direct mail, commercials etc) advertising to draw customers into the store from both in-state, and out of state.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Kingfishers is a retail store and lodging place in a great location that provides industry specific products to Anglers and Hunters who travel to our state from all over the world for Fly Fishing and Big Game Hunting. The store flourished under its former owner using just one half (1/2) of the available retail space, and offering no other services. The business has been in operation for nearly 20 years and enjoys a solid and positive reputation. The business has serviced clientele from all over the U.S. and has a large repeat customer base from both local and out-of-state Anglers. Under its former owner, the business offered Fly Fishing Guide Services and had a very respectable client base which could be easily regained to maximize and increase revenues today.

2.1 Company Ownership

Kingfishers will be a Limited Liability Company owned and operated by Ausable Wulff and Brassie Nymph, located in the southwest corner of the state on US Hwy XX. Ausable owns another company in the Hunting and Fishing Industry that he started in two years ago, which manufactures innovative hunting and fishing accessories. Brassie has 15 years of experience in managing tourist lodging and has financial management skills.

2.2 Start-up Summary

• The lot, improvements and buildings currently known as XXX.
• Outfitters License
• All current inventory of XXX (current wholesale value of $68,000)
• All current fixtures and signage of XXX
• New logo and signage for business
• The bare lot located adjacent to the above mentioned lot and buildings
• 5 Custom Pre-Built log cabin structures to be placed on the bare lot as said above
• Fixtures and furnishing/linen for 5 cabins
• 3 Drift Boats
• 1 portable espresso/coffee maker

The table below shows the breakdown of the assets as they are needed, including $15,000 starting cash and $30,000 dollars for additional inventory to stock the store to make it sales ready.  It also includes a figure for current assets needed such as additional fixtures, and a computer system designed for retail sales, as well as showing the full value of the long-term assets that will be part of the business.

Products and Services

Kingfishers will offer a variety of products and services to leverage all aspects of outdoors fly fishing and hunting activities, to include:

• Fly Fishing Equipment, Clothing and Accessories:  We will provide both top-quality and economical products to Anglers through our retail shop and on our website.  Examples of our product brand names include R.L. Winston, Orvis, Umpqua, Filson, Columbia, Dr. Slick, Scientific Anglers, and more. We will also carry the largest selection of fishing Flies in the state (one key point in our advertising campaign).
• Hunting Equipment, Clothing and Accessories: We will provide a full line of hunting clothing and accessories for the large hunting market in the area. Our product line will include camouflage clothing and outerwear, ammunition and gun maintenance products, as well as a selection of related safety and convenience items. 
• Comestibles: We will carry a number of comestibles, including cold refreshments and an assortment of quality cigars. We have found that many Hunters and Anglers love the idea of a cold drink and a fine cigar, and find the idea of such a treat after a good day of fishing or hunting extremely appealing. We have also searched for, but never found, any other business like ours offering the same. This type of product placement keeps the memory of our business in the customer’s mind for repeat business and word of mouth advertising.
• Pro Fishing Guide Services:  With an Outfitter’s License that has more client days than most, and a large pool of experienced guides to pull from, we can offer a large numbers of Anglers guided trips on any one of 5 major trout rivers. With the opportunity to pick from full or half day trips, boat or wade trips, and multi-day packages available, we can tailor a trip to customer-specific desires, addressing both monetary and experience levels.
• Drift Boat Rentals: Our central location gives us a tremendous advantage over our competition, as well as providing great benefit to our customers. For customers who prefer not to hire a guide because of experience or monetary reasons, we will offer a superb compromise.  By renting drift boats by the day to anglers who do not have boats of their own, or prefer not to transport them long distances, we can satisfy a substantial customer need and gain high margin revenue.
• Lodging:  Kingfishers will offer lodging in custom-built log cabins. The cabins will be centrally located between 5 nearby trout rivers, as well as huge sections of private and public hunting lands. With differing levels of comfort and numbers of beds, the rustic cabins will have bathrooms, kitchenettes, hot and cold water, and heat. Our cabins will offer rustic comfort, and convenience of location. 

Market Analysis Summary how to do a market analysis for your business plan.">

Studies conducted by the U.S. Fish and Wildlife Service show very positive market trends in the nation and in our area.  Fishing industry expenditures increased nationally from $53 billion in 1991 to $70 billion in 2001.  In our state, there was a 6% increase in the number of Anglers who fished in the state, a 55% increase in the number of days that each Angler fished, and an incredible 118% increase in the total dollars spent by Anglers from 1991 – 2001, representing the 2nd largest increase in the nation.  This means that there are more Anglers fishing here, they are staying longer, and they are spending more money while they are here. 

The same USFWS report shows that the same is true for hunting in the state.  229,000 hunters hunted in this state for a total of 2.4 million days.  This includes 59,000 non-resident hunters who hunted for 390,000 days, an average of 6.6 days each.  This is a 46% increase in the number of hunting days in the state, and a 46% increase in the total dollars spent ($206 Million on expenses and equipment) from 1991 – 2001. 

The breakdown of 2001 Hunting and Fishing Statistics looks like this:

Demographics:

Our target customers consist of 6 target groups. The American Sport Fishing Association has conducted studies that show that Anglers are an average age of 42, 70% are married, and 33% have college degrees. In our state, 28% of all Anglers are female, and 97.5% of them are white. Based on these numbers, we have concluded that the best target audience will be out-of-state white males between 35 and 70. We also have smaller target market segments in out-of-state white females between 30 – 50,  in-state single white males between 18 and 25, in-state married white males between 25 and 60, and in-state white females between 25 and 55, as well as large companies with large employee bases. 

4.1 Market Segmentation

Our market segmentation defines the target customer segments most likely to visit the area of our state that we service. This way we can then tailor our advertising specifically to those target segments, thus minimizing advertising expenses and maximizing the effect of investment dollars. 

Primary and secondary segments deal with non-resident Anglers and  Hunters, one female group and one male group. These two segments consist of married men and women between the ages of 35 and 70.  This is the age group that is most likely to have the means to afford the cost of traveling to a different state for fishing or hunting excursions. These segments travel specifically to hunt and fish as their end goal, or enjoy travel as the satisfaction goal and like to include hunting or fishing as enhancement activities. In either case, this group accounts for 33-40% of all fishing/hunting expenditures according to state-gathered statistics. In our state alone, this group spent an estimated $116,800,000 in 2001.

The fourth segment consists of single females 25 to 35 years of age. Females account for 30% of the anglers in our state and, by national average, do not marry until their 30’s. By targeting this segment of 30% of the market, we will earn their business and loyalty before they settle into family lives with incumbent responsibilities that may slow their outdoor activities. Pattern studies indicate that purchasing patterns and business loyalties formed within this segment are the most likely to endure through the life changes of marriage, family and personal maturity. This group makes up about 9% of the Anglers in our state and is responsible for about $16,254,000 spent here in 2001.

The fifth and sixth market segments consist of married residents, both male and female, between the ages of 25 and 60. This group is by far the largest group of hunters and anglers, from the casual to the avid sportspersons.  This group makes up 70% of the Hunters and Anglers in our state and is responsible for $223,224,000 spent in Montana on Fishing and Hunting in 2001. 

The seventh market segment targets large companies. The purpose of this including segment is to gain market share through direct advertising to companies that are large enough to send groups of people on trips as part of their own PR campaign, as company bonuses or as executive gifts. Billions of dollars are spent every year by large companies on advertising, bonus plans, and public relations. Our goal is to tap into this by offering guided trips and lodging (premium service at premium rates), to companies who don’t mind spending the money and can largely write-off the expense.

4.2 Target Market Segment Strategy

Our target market strategy focuses on groups who most closely resemble the average Hunter and Angler, and who have the means and desire to trave, fish and hunt. These are the groups that are most significantly contributing to the state’s revenue figures and are therefore the groups that will most significantly contribute to our revenue figures. 

Our goal is to use the least amount of money on the most effective type of advertising so that we can have as large a return on our advertising investment as possible. To do this we will wage an advertising campaign aimed at all of our targeted segments, using a large percentage of the budget to focus on as large of a percentage of each market as possible, and to use a small amount of the budget to single out certain segments at certain times of the year. 

4.3 Service Business Analysis

Kingfishers will be competing in the Hunting, Fishing, and Lodging industries in our state. The business will provide services specific to certain segments of those industries, and will be doing so in a specific geographic market area.  Though there are dozens of businesses offering similar products and services across the state, we are not in direct competition with all of them.  Direct competition is represented by five other Fly Shops in the market area that service the same waters we do, and as many as 10 businesses that offer lodging in the market area.  There are few businesses offering products for the hunting industry in the area that we service. 

Most of the industry competition that we face lies in the large department stores or chain stores located in the major cities, or “jumping-off points” of Hunters and Anglers.  This is where a majority of resident anglers purchase their equipment and accessories, because this is where they live.  Non-residents, however, tend to have specific destinations and limited time.  This means that they normally travel to where they are going to hunt and fish, and then purchase any gear that they need from the local shops that their guides recommend, or that they have come to know from previous trips or advertising.

4.3.1 Competition and Buying Patterns

Competition varies greatly within the three industries that we conduct business. Discussed below are the general issues germane to competition in those three industries.

Fishing Industry :

The fishing industry is broken up into different categories.  Fly Fishing is by far the most popular fishing sport in our state, and also the category with the most nuances. Catering to these nuances is the key to success in the Fly Fishing business.  It is also an industry in which brand recognition and quality are of the utmost importance. For this reason, chain stores that sell fly-fishing equipment are not strong direct competitors. Chain and department stores do not carry the top-quality brand name equipment and accessories that Fly Shops do, for the most part. The larger stores do not specialize in a sport that requires a major amount of specialization. One of the biggest reasons that chain stores or even bigger department stores can’t compete well with specialty stores, such as fly shops, is that they do not have the staff with the product knowledge, or breadth of knowledge about the sport in general, to adequately sell the products. The vast majority of fly anglers recognize this fact and avoid chain stores for anything but general purchases. Competition in the chain store/department store arena usually revolves around price, convenience and availability.

Competition with other fly shops is a different story. Campaigns in this competition are waged over location, ambiance, advertising, name brands, quality service and relationships. Fly anglers are known to be loyal.  When they find a fly shop that they like they will usually go back year after year. So in competition with other fly shops, the objective is to get the customer into your store and make them want to come back. This is where our “Keys to success” and “Objectives” come in. 

Hunting Industry:

The Hunting industry is different from the Fly Fishing industry in that Hunters have a huge number of stores to choose from to purchase the products that they need.  Most of these stores are located in the major cities and bigger towns. Our objective is not to compete with these stores directly, but to pick up where they leave off. Most hunters will forget something when they leave for a trip, or will lose or break something while they are out. This is the market share that we want to gain. Our location makes us a convenient stop to pick up an item or replace a piece of equipment. More than that, though, because the business is one of the few in the area to offer hunting and fishing Licenses, the Hunters are already coming into the store. This is a perfect opportunity to sell impulse items, or items that someone realizes they forgot or need. 

Lodging Industry:

Strategy and Implementation Summary

Kingfishers’ strategy and implementation are simple. We aim to capitalize on our state’s natural beauty and wildlife resources, and the revenue that those two assets bring into the state every year. We will do so by promoting our location, unique marketing edges, and our quality services. By staying ahead of the competition, and creating the leading edge of marketing, we can draw people to our business where we will keep them as customers for life with our belief in customer service and sound business practice, as well as unique products and services.

5.1 Competitive Edge

Kingfishers is a company with a competitive edge. The most important aspect of the business is the location.  Located on highway frontage on the main highway that connects five of the best trout rivers in our state, and serves as the main route between two national parks, we have a huge exposure to potential customers and a great marketing scheme. Whether they are staying in our rustic cabins, renting a boat from us, using one of our guides, or shopping in our store, the customer is centrally located to everything in the area. This means that if one river is not fishing very well for some reason, the customer is just as close to the four other rivers that will be. We make an excellent base camp and meeting place.  

The opportunities for unique and exclusive advertising with our company are huge. Kingfishers can advertise the largest collection of flies in the state. We can advertise that we have one of, if not the oldest, Fly Shop in our county (our building was built in 1943). We can advertise the true rustic spirit of our shop, a log building that has been remodeled to be beautiful inside yet rustic at the same time. Our Lodging is among the nicest and most rustic available, with prices that can compete with even the run-down hotels. We have an Outfitters License that has a very large number of client days on it, and we can advertise that fact.  

Finally, our competitive edge also lies in our attitude. Our Company Mission Statement says it for us. This is the reason people will come back year after year, tell their friends about us, and recommend us to acquaintances.   It is what makes our company different than most others, and why we will build a solid business with a solid reputation.

Three principle items are sold by every business that sells products. They are the product itself, warranty and service. We are very aware that in today’s ultra-productive global society, product quality and name brand only go so far, and warranties are all almost identical. The one thing that is left is service. So above all else, Kingfishers focuses on selling Relationships, built on the piers of unequaled service, industry knowledge and business commitment.

5.2 Marketing Strategy

Our marketing strategy is directed to twin fronts, the local market and the out-of-state market.  Marketing efforts will be divided equally between the two, with tactics specific to each. 

Guide trip bookings are an important part of the business, and most bookings comes from out-of-state.  Guide trips are important for several reasons, the first being that they are very profitable. Second, clients do not just purchase the trip but also spend money in the store. Third, those clients are a very important part of our advertising plan in the form of word-of-mouth advertising that is invaluable to the success of our business. To reach the out-of-state market we will use several approaches:

• The World Wide Web:   We consider this to be the most cost-effective form of advertising available. Potential customers come to us via search engine hits that post our website based on keyword tags, thus we are presented to a targeted customer who is planning to spend money with somebody. For this reason, we have developed a website that easily rivals any competitors’. It is simple to navigate, easy to understand and read, makes the reader feel comfortable and trusting, and provides pertinent, accurate information, all key things when making a sale. 
• Fishing Publications: Our target audience also turns to fishing publications when looking for a guide service or ideas on an area to fish. Advertising in these types of publications is key. The drawback is that you are competing with every other guide service and fly shop as well.  Our goal with this type of advertising is to attempt to stand out, while using as little money as possible.
• Newspaper advertising when feasible:   Newspaper advertising can be effective if done correctly. We believe that by placing ads in key sections of newspapers in large cities we can generate sales. The key to this type of advertising is to get the potential customer to see the ad, and call shortly afterwards. Often, the customer will see the ad, think about it, and go looking for more info and potentially stumble across the competition. Our plan with this type of advertising is to use small ads containing pictures and verbiage that will draw on an emotional response, thereby making the ad memorable. 
• Occupational publications such as medical magazines:   We consider this strategy our secret weapon. By publishing in publications such as Medical Magazines or other types of professional publications we are doing two things: we are effectively reaching a relatively wealthy audience of educated professionals who fit the target audience perfectly, and we are avoiding our competition while doing so.  
• Infomercial Video on CD Media:  This is our most targeted type of advertising that we will aim at the out-of-state market. We will produce short, 3 to 5 minute infomercials about our business concentrating on our guided trips and lodging. They will include exciting video of boat trips, and the camaraderie that goes along with them as well as a good look at the lodging aspect of the business, and the beauty of the surrounding area. These short CD videos will be sent to the Executive and PR staff of large corporations. Our goal with this is to entice these companies to send us business in the form of PR trips for their potential clients, as bonuses for their employees, or as personal trips for anyone in the company the video gets passed to. We feel this will be a very cost-effective way to get a solid customer base. It is a unique marketing tool for our industry and again avoids marketing in direct competition with our competition.

Local business is very important to us as well, and is why we are using the 2nd half of the marketing budget to reach it. Our local marketing strategy is very different than our out-of-state strategy. While our website will include information for local markets, most of our local budget is going to be spent on the last two forms of media discussed below.

• Roadside Advertising:  We feel that the best form of advertising for our type of business will be roadside advertising, for several reasons. The biggest reason is that any customer who enters our shop or even comes to the general area will have driven there. Our main goal is to get them to notice that there is a great Fly Shop here by placing as many roadside billboards as possible along the smaller highways that come into the general five-rivers area surrounding us. The most advantageous places will be on the opposite sides of the surrounding towns (where our main competition lies), and outside of our town. If possible we will also place billboards at most of the major highway junctions in the area.
• Radio: All of the local business that we capture will have driven to our location from some distance. For this reason, we plan to place radio ads with the stations that will be most likely to provide coverage over the largest geographic area with the biggest population densities. ROI studies will be conducted as part of the advertising contract to ensure that we can track expenditures against returns to ensure positive ratios.

5.3 Sales Strategy

The objective of our sales strategy is simply to sell something to everyone who comes through the door, and to maximize the traffic flow in the shop. Anglers enter a shop with the idea that, at the very least, there is a possibility that they will make a purchase. To help realize our goals we will do the following:

• We will merchandise the store products to the greatest benefit, utilizing placement to maximize traffic flow.  
• Every customer will be made to feel important and welcome. People spend money where they are comfortable and confident, and they buy from people that they like. We will provide both of these environments.
• A staff member knowledgeable in the fishing and hunting industries, as well as about local details, will always be available on-site.
• We will offer discounts to local guides who bring customers to the shop or recommend our store.  
• Toward autumn we will integrate hunting products into the store to continue the season from the summer into the winter months.

5.3.1 Sales Forecast

The sales forecast shown here is based on conservative estimates and could turn out to be underestimated substantially. These estimates do not take into account any Internet sales as the Internet portion of the retail sales plan is new to the operation and competing in an unknown market. We expect that due to the ease of use and sales-friendly structure of the website, our Internet sales will be effective. Therefore, the Internet sales will be used initially as re-investment funding rather than as a substantial part of our financial plan. We will use it to boost the funding of things such as advertising, shop/lodging atmosphere and/or to increase revenue generating services like the number of cabins, or adding boats to the rental fleet.

The fist part of our sales forecast deals strictly with retail sales from the shop. Based on the 2003 Profit and Loss statement of the former owner, by merely increasing the traffic flow by 10%, the closing ratio by 12%, and by increasing the amount of each sale by 12% we can increase overall sales by a total of 35% ($88,500 to $119,218). We believe that new ownership could make these increases with fresh enthusiasm alone. However, coupled with a remodeling of the store which would double the sales space, brightening the interior with lighting and renovation, and fresh merchandise, the sales could easily double. 

The forecast also deals with our available services. We have used conservative numbers here as well, and have information from the competition that suggests our actual sales could be higher. Our two main services are common to the industry and include professionally-guided float and wade trips on the local rivers, and boat rentals to anglers who do not need or want a guide but need a boat. We have forecasted the boats to rent at about 68% (86 out of about 127 days) of the season. We expect 100 to 120 guided float and wade trips the first year, including 50 trips conducted by the owner, and 50 to 70 contracted out to independent guides in the area. 

The third service we offer is Lodging to the Hunters and Anglers in the area. The businesses offering lodging similar to ours report occupancy rates of 95%-100% from mid-spring to late autumn. We believe that we would have a competitive edge in the lodging market, but have forecast our first year at 75% occupancy rate. Even at a 75% occupancy rate, we still show a substantial profit from the lodging, and expect it to grow dramatically. If we see occupancy rates above 80% in the peak seasons, we will increase the number of cabins that we have available at a rate of one per year, which will increase our profit margins even more. Direct inventory costs for lodging (shown below) include soap and toiletries, firewood, and propane; related direct costs for cleaning services and repairs are shown at the top of the Profit and Loss table.

One of the major services that we offer is as a licensing agent for the state. This plays a major role in the business as it draws large numbers of people to the shop. License sales in 2003 topped $29,000. This is an estimated 1,000 people, or about 40% the number of estimated sales in 2003. Capitalizing on this service and increasing it is a key issue to our forecasts and growth.

In addition to the Fishing products and services we offer, we will also offer a variety of hunting equipment, accessories, and apparel to the hunters in the area. We estimate that the store sold 250 hunting licenses in 2003, but stocked no product to sell to those hunters. Our forecast shows what we believe to be an accurate representation of the revenue we can generate in the first 1 to 3 years by providing these products. Once the word of mouth advertising grows and it becomes widely known that we carry these types of items, we will be able to service not only the local resident market, but the state-resident area and non-resident out-of-state hunters as well. By tapping into this revenue source we will be able to accomplish two goals: increasing revenues from sources not taken advantage of by the former owner, and working our way into the Hunting Guide business in the coming years.

The table below shows both projected sales revenue and direct inventory costs for those sales. Direct costs for services (guided trips, boat rentals, cabins) are shown at the top of the Profit and Loss table.

5.4 Milestones

The Milestones Table shows the milestones that are important to the operation of the business. Our goal is to get all of our projects completed as soon as possible, but we will use this timeline as a maximum deadline. This will give us time to do the jobs correctly without making the mistakes that rushing can cause while still allowing us to be ready in plenty of time for the main season to begin.

Web Plan Summary

The World Wide Web is an extremely important asset to our business. By providing a storefront available to the entire world that is open 24 hours, we are able to reach unprecedented numbers of potential customers. This source of advertising will help us realize significant gains in both potential customers and revenue. 

We have developed our website to accomplish two missions. The first is to draw customers from out-of-state to our company for Professional Guiding. The second is to provide an online store where customers who can not visit our physical store may purchase Fishing and Hunting products. By giving people an online store, an easy method of purchase, and fair prices on items that they need or want, we can gain market share where we would never have known it even existed in the past. 

To entice people to reserve trips with us, to buy on our online store, and to convince them to visit us in person, we have developed the website to do several things at once when a customer visits the site:

• Give the customer an initial impression of our store and our personality: This is a crucial part of selling ourselves. Our customers do not just buy from us because we have what they want or need.  They buy from us because they like us.
• Look warm and inviting: The design of our website is meant to give a warm and rustic feeling to instill trust of our company, and keeps the customer on the page for as long as possible.
• Be unique and look professional: While all websites share certain characteristics, we have attempted to keep a fresh look that is professional. Professional-looking websites instill trust, and generate sales.

After we have made our initial impression, we have convinced our visitor to stay on the site and look at what we have to offer. To keep the visitor browsing and convince them to either buy products or contact us to reserve a fishing trip, our site must do several things:

• Be easy to navigate: We have made our site extremely easy to navigate with out excessive scrolling.  A visitor must be able to easily find their way around the site and to go directly to the information that they are seeking without having to think or search extensively. Most visitors give a site 10 to 15 seconds, or less, to find what they are looking for.  
• Instill trust: Our website instills trust on several levels.  It looks professional, and is designed using warm, friendly colors and simple layout. We accept credit cards online, which shows our competence and tells customers that we are big enough to offer secure methods of payment. 
• Offer all of the information a visitor is looking for : Information about all of our services is easy to find and complete. Visitors don’t search websites for information so that they can be told to call someone for more information.
• Ask the visitor to act (call or buy): We provide plenty of opportunity for people to purchase products or contact us about our services without being pushy about it. Most people do not mind being led into a purchase or action, but resent being pushed into it. We believe that we have found the right balance. 
• Come up on Search Engine Searches: Our site has been designed to be search engine compliant, and can be found at the top of most of the search engine results for searches conducted for our services.  When search engines search the Web for content, they have specific criteria that a site has to meet for the site to be found and display in a search.  This is extremely important for ranking purposes. 

6.1 Website Marketing Strategy

Our website is geared to the casual Internet user who is looking for us, or more precisely, looking for information about fishing and hunting in our state, or about products and services we offer.  This gives us several marketing strategies to use to put our website and name in front of as many people as possible. 

• We will constantly upgrade our website and keep it search engine compliant so that it stays in the top rankings for our industry.
• We will exchange links with as many other same-industry websites as possible, who are not in direct competition with our shop. 
• We will put our Web address/link on as many state commerce-oriented sites as possible. This enables us to link our site with 2 to 3 state-sponsored sites, and several privately-sponsored sites as well, thereby doubling or tripling (or more) the chances of someone seeing the site.
• We will advertise on the search engines.  This is an extremely effective method of advertisement wherein we pay a certain amount for each visitor that comes to our site from a particular search engine. The search engine, in exchange, puts our site at the top of the list, or in some cases in a special box that draws attention.

6.2 Development Requirements

The website will be developed in house by the business owner. Costs will be kept to a minimum and the only projected expenses will be the cost of having the site hosted on a server, and those costs usually associated with accepting credit cards online. The site should be mostly completed and online by the closing date of the business sale.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Kingfishers is owned and operated by Ausable Wulff and Brassie Nymph. Ausable is an Army Veteran and comes from a background in Federal Law Enforcement. He brings his motivation for success, ability to lead people, and knowledge of the industry to this venture where he feels he can be very successful. Ausable has started one company in the industry where he has invented products for the hunting and fishing industry, applied for and received patents, and wholesales the products to Fly Shops and Hunting stores around the state. He accomplished this with limited capital and in his spare time during nights and weekends. He will use this “can do” positive attitude to expand Kingfishers, and make it a great place where both customers and employees want to be.

Brassie Nymph is Ausable’s sister, a fly fishing enthusiast and former manager of The Lodges at Creek X. She brings 15 years of management and financial experience to the business, and will be in charge of the Kingfishers cabins.

7.1 Personnel Plan

We are basing our personnel table below on the historic season and guiding dates of the area. The owner (and other independently-contracted guides) will guide clients on the river while one employee will be needed to assist customers and watch the store while the owner is gone. The additional employee will be especially beneficial during the extremely busy months of July, August and September. We are estimating that the employee will increase revenue enough to more than pay for the salary being paid to him. Independently-contracted guides are not employees – expenses for their payments can be found in the Profit and Loss statement.

Brassy Nymph will not draw a salary in the first year, but will have access to at-cost fly fishing equipment during the trout season, when we will need her help as manager of the lodging cabins. She will begin to draw a salary in the second year. 

After the first year, we will evaluate how many employees will be needed to staff the store for the upcoming season.  Based on projected growth rates we are estimating that hiring two employees the second year would be prudent.

Financial Plan investor-ready personnel plan .">

The $513,000 loan that the company expects to secure shortly will help cover the start-up expenses and provide operating cash.  The following sections show in detail that Kingfishers will be profitable from the beginning. Its healthy profits will be sufficient to pay back the loan and provide return to the owners with room to grow.

8.1 Start-up Funding

Our start up funding table shows a start up requirement of $577,000, which includes $556,800 of non-cash assets, $5,200 of expenses and $15,000 cash.  The owners will contribute $50,000 and $14,000, respectively, to the business. As shown in the table, Kingfishers only needs $513,000 in lending to get the business going. We will repay this loan over ten years at an 8% interest rate. We would like to defer initial repayments until April of the first year, when trout fishing picks up, in order to maintain a positive cash balance. We will make up these first three months of repayments with double payments for three months in the 3rd year. The major use of loan funds will be to buy the property of the former fly fishing business we plan to revive.

8.2 Important Assumptions

The financial plan depends on important assumptions. The key underlying assumptions are:

• We assume that there wont be a catastrophic event such as 9-11, or that if such an event happens it won’t stop tourism.

8.3 Break-even Analysis

For our break-even analysis, we assume running costs which include our full payroll, loan principal repayment, and utilities, and an estimation of other running costs. Total direct costs for the first year average include inventory, payments to outside guides, cleaning and maintenance of the lodging, and credit card fees.

The table shows that we will surpass the break-even point in the second half of the first year. As the Fishing, Hunting and Tourism business is seasonal, we plan on making the majority of our revenues during the summer and fall months, which will carry us through the beginning of the next year until the next summer season starts.

8.4 Projected Profit and Loss

Our Pro Forma Profit and Loss statement was constructed from a conservative point-of-view, and is based in large part on past performance of the business under its former owner. By improving on the retail store and adding fresh ideas and spirit to the sales floor we can dramatically increase sales beyond our conservative estimates. By adding other services that are not highly labor intensive, such as lodging, to the business we can greatly increase revenue without greatly increasing costs.  By strengthening our service position, and rebuilding our customer relationships, we will widen our customer base and increase sales.

Non-inventory costs of sales listed below include payments to the independently-contracted guides, license fees, credit card fees, and cleaning and maintenance on the cabins.

Despite the seasonal nature of the business, we expect to generate a small profit in the first year, based on the past performance of the business, as backed up by tax statements, and on a modest increase in sales from the remodeling and new revenue streams. We expect second year profits to dip slightly as we increase payroll to include Brassy Nymph and hire additional part-time employees. Month-to-month projections for Profit and Loss are included in the appendix.

8.5 Projected Cash Flow

The cash flow table and chart, below, shows our cash position during the first 6 months of the year until the summer tourist and fishing season starts, based on receiving the full amount of funding requested. The table also shows our planned repayment of the loan principal, on the terms outlined in the Start-up Funding table. May shows a near shortage of cash, but we believe that this is more due to our conservative forecasting than a real danger.  The beginning of summer shows a decisive increase in cash, and is typical in a business such as this, where the total year’s earning are made in a season of about 5 months. 

We have projected to end the year with enough cash to make it through the winter and spring of 2006 and to start the season in a good position. Based on this, we project our cash flows will increase steadily over the coming years, allowing us to improve our inventory, and increase our revenue-producing assets, such as cabins for lodging. We believe these cash flow projections are realistic, if not slightly conservative. 

8.6 Projected Balance Sheet

Our Balance Sheet shows that we have planned for and expect steady growth in the business. Notice that our net worth is growing year by year, and that even in the first year we can show a profit. We fully expect to be able to fulfill all debt obligations easily. We will continue to take a conservative approach in our expectations and reinvest any profit that is above and beyond our forecasts. By doing this, we will be able to not only expand our holdings and improve our position, but we will be able to attract more customers and clients, leading to more revenue and a continued cycle of growth.

8.7 Business Ratios

The company’s projected business ratios are provided in the table below. The final column, Industry Profile, shows significant ratios for the Retail Fishing Equipment and Supplies Industry, with the Standard Industry Classification (SIC) Code of 5091.03.

Please note the comparisons with our Gross Margin ratios as ours are significantly higher than the industry standard, as is our Profit before Interest ratio.  Our high gross margin comes of an intimate knowledge of the inventory needs of a fly shop in this town, based on our own expertise and the advise of the previous owner, and on our plan to increase sales with high-margin items like the cabins, and food and beverage options.

Our Debt to Assets ratio is showing higher than the industry standard, but we expect that to level out and then surpass the standard in 6-7 years. 

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How to start a fish and chips business in South Africa

• April 25, 2021

The fish and chips business has been very popular in South Africa, it is found almost everywhere, from big towns to small townships. This is a guide on how to start a fish and chips business in South Africa.

The fish and chips business seems to have lost some popularity in the recent years. This is mainly due to the popularity of fast-food chains. Fast-food franchises have become more and more accessible to the average person in South Africa.

However, this doesn’t mean that fish and chips businesses no longer have a place. There is still a lot of demand for fish and chips, especially in urban areas. This is a business with high barriers to entry but can become very profitable.

Choose a location

The location of your fish and chip shop will affect the success of your business more than anything else. This is basically a restaurant and location is super important for restaurants, it can make or break your business.

Your business should ideally be situated in an area that receives a lot of foot traffic. This should ideally be a busy street, it can either be in a town or kasi, it doesn’t really matter. As long as the street is busy; you should get customers from time to time. The worst thing you can do is to situate your business in an area that doesn’t get foot traffic.

With the right location, you won’t even have to spend much on marketing, people will notice your business and will come. Make sure that your fish and chip shop is in a good location and that there is not too much competition.

Get operating premises

You can either build or rent your operating premises, renting is usually the cheaper option. As long as it doesn’t cut too much into your profits. Renting usually costs anywhere between R7 000 and R13 000 in towns.

If you want to run the fish and chip shop at a township then you might have to build it from scratch as there might not be a suitable structure for you to rent. This is what might cause your overhead costs to skyrocket.

The size of your premises will be dictated by your business model. You have to decide on whether you are only going to sell take-aways or if you are going to allow people to sit down and eat.

Renovate your premises

You might be renting a building that used to be a furniture shop, you will have to turn it around to fit the theme of a fish and chip shop. The good thing is that not much has to be done, especially if you are planning to make it a take-away shop.

However, you will have to buy chairs and tables if you plan to have people sit down and eat. We highly recommend that you go with that model. Some people won’t come to your place if there isn’t a space for them to sit down and enjoy their meals.

Buy equipment

You don’t need a lot of equipment for this business, you should have equipment for frying your fish and chips. This can be any deep fryer; commercial fryers usually go for R6 500. Which is ideal if you expect to serve a lot of clients.

You should also buy some uniform for your employees or yourself. Food is a very sensitive thing; your employees should look professional at all times.

Register your business

You have to first register your business as a private company with the CIPC, then apply for a food license from the department of health. They will come to your premises and inspect everything, make sure that everything is up to standard.

Find suppliers

Try to find suppliers who are not that far from your business, you will need someone who will supply you with potatoes and fish. Source your potatoes directly from the farm, that’s if there is any farm near you. You will save a lot of money.

See also: How to start a business in South Africa

This was a guide on how to start a fish and chips business in South Africa. Do you have any thoughts or questions? Comment below.

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Joseph Madzibane

I already have the equipment for a business and I tried to open it at my sister’s place but I don’t Benefit according to business plan bcs I am struggling with a lot of things like transport and other financial problem, which every time my business decrease

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Election latest: Sir Keir Starmer challenged to make 'lying PM' claim 'stick' - as minister doubles down on row

Amid the raging tax row, a former Scottish Labour leader has told Sky News that if Sir Keir Starmer can "make it stick" with voters that the PM "lies", he'll have won the argument. Meanwhile, a Treasury minister has denied that the Tory party's claim about Labour's tax plans is false.

Wednesday 5 June 2024 23:00, UK

• General Election 2024

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Election news

• Battle For No 10: PM and Starmer taking part in Sky News special
• Bulletin: Catch up on the latest news from the campaign trail
• Exclusive: Reform gains ground on Tories in new poll
• Starmer accuses PM of lying | Watchdog 'looking into' tax claim
• Treasury minister denies that Sunak lied | Starmer challenged to 'make it stick'
• Welsh FM won't quit after losing confidence vote
• Top chef explains Labour backing
• Live reporting by Ben Bloch and (earlier)  Faith Ridler

Expert analysis

• Adam Boulton: Starmer's been given licence to say 'liar'
• Sophy Ridge: No party's being honest about challenges to come
• Jon Craig: Starmer needs to be a bit less Mark Darcy
• Ed Conway : The £13,000 omission in PM's tax warning

Election essentials

• Have your say: Be in the audience for our election leaders event
• Trackers: Who's leading polls? | Is PM keeping promises?
• Campaign Heritage: Memorable moments from elections gone by
• Follow Sky's politics podcasts: Electoral Dysfunction | Politics At Jack And Sam's
• Read more: Who is standing down? | Key seats to watch | How to register to vote | What counts as voter ID? | Check if your constituency is changing | Your essential guide to election lingo | Sky's election night plans

Thank you for joining us for live coverage of another busy day on the general election campaign trail.

For a short burst of everything that happened today, see our evening round-up here .

Join us again from 6am as the battle for the keys to No 10 continues.

The Liberal Democrats are tonight weighing in on the tax row that has engulfed the general election campaign since last night's testy debate.

Rishi Sunak claimed that Labour's policies will see a £2,000 tax hike if it wins power - but that is highly disputed by experts,  including Sky's economics and data editor Ed Conway .

Sarah Olney, Treasury spokesperson for the Lib Dems, is seemingly siding with Labour in this row, saying in a statement that the Tories are "fooling absolutely nobody".

"Their chaos and mismanagement have damaged the economy and left British families worse off, saddling them with £41bn of unfair stealth taxes worth hundreds of pounds for every household," she said.

"Hard-working families deserve so much better. Voters will never forgive the Conservative Party for saddling them with unfair tax hikes and failing to tackle the cost of living crisis, while giving tax cuts to the big banks and oil and gas giants."

David Duguid has said on social media that the Scottish Conservatives have prevented him from standing again as a candidate for the party.

He served as the MP for Banff and Buchan from 2017 until parliament was dissolved for this general election, but has spent many weeks in hospital receiving treatment in intensive care for a spinal illness and pneumonia.

The general election "came as a surprise", but on 23 May, he announced that he would stand to win his seat once again.

Although he said he would be able to campaign, he also said he would not be able to canvass in person as he remains in a rehabilitation ward.

He said on social media this evening that although he was selected by local party members as their candidate once again, the Scottish Conservatives told him "that they have decided not to put me forward as their chosen candidate for Aberdeenshire North and Moray East" (the name of his former constituency following the boundary review).

A spokesperson for the Scottish Conservatives said: "David Duguid is unfortunately unable to stand in this election.

"David has been an excellent MP and great local representative for the last seven years.

"We thank David for all his hard work for the party, we look forward to his recovery to full health, and hope that he will want to rejoin frontline politics in the future."

It is understood that the party feels it is taking the decision in the best interests of Mr Duguid's health.

By  Faye Brown , political reporter

Rishi Sunak has pledged to cut rail fares for veterans and "enshrine their rights in law" in an election offering on the 80th anniversary of D-Day.

The prime minister has announced a raft of measures aimed at making the UK "the best place in the world" to have served in the armed forces.

This includes reducing the price of the Veterans Railcard from £30 per year to £21, bringing it in line with how much serving personnel pay for the HM Forces Railcard.

The Tories also want to extend the existing national insurance relief for employers who hire ex-military members, in a move the party said will incentivise companies to continue offering jobs to veterans.

But Labour said the Tory record on veterans is "shameful" and their election plans "mean no change".

The measures will be covered by a new Veterans Bill, which will also ensure military qualifications have an equal standing with civilian qualifications in law for the first time.

Read more here:

It's been a day of fiery fallout from last night's debate between the prime minister and Labour leader.

Rishi Sunak has faced backlash over his claims that Labour's plans will cost households £2,000 more in tax, with Sky's economics and data editor Ed Conway among those questioning the figures.

Here's everything you need to know about what happened in the general election today:

• We'll start with Labour's no-nonsense response to Rishi Sunak's claims about their tax plans last night, which peaked with Sir Keir Starmer accusing the prime minister of repeatedly lying ;
• Mr Sunak's claim is also being looked into by the UK's statistics watchdog, while doubt has been cast on his allegation by a top Treasury official, who said the civil service had nothing to do with it;
• The Tories have stood by the claim that households will pay an extra £2,000 , but Labour insist working families won't be out of pocket;
• Ed Conway has written about why you should probably be sceptical of those claims and says even if true, the amount is nowhere near the extra burden placed upon taxpayers in recent years;
• But tonight, the Tories are doubling down, and making more pledges around taxes on housing, which you can read here .
• Nigel Farage's return to frontline politics this week has also dragged down the Tories' ratings in our latest election polling;
• Our exclusive survey from YouGov shows Mr Farage's party have pulled within two points of the Conservatives , with Labour on 40%, the Tories on 19% and Reform on 17%;
• Speaking of Mr Farage, a woman has been charged after he had a milkshake thrown over him in Clacton yesterday.
• Elsewhere, the Welsh first minister has lost a vote of no confidence , having been left in tears as the Senedd debated his future;
• Vaughan Gething faced the vote after concerns were raised about a campaign donation he received, allegations he misled the COVID Inquiry, and Plaid Cymru withdrawing from its co-operation deal with Labour - but he has said he won't quit ;
• In Scotland, Scottish Labour has been extolling the virtues of the party's plan for Great British Energy , which would be headquartered in the country;
• Campaigning has been quieter in England, as party leaders assembled with royalty and veterans for D-Day commemorations in Portsmouth.

Sky News has also had its own announcement to make this evening, with Rishi Sunak and Sir Keir Starmer agreeing to take part in a special leaders' programme .

The Battle For Number 10 will air from 7pm next Wednesday.

Here are some other stories you might want to read:

Our essential political podcast,  Politics At Jack And Sam's ,  is going out every week day through the election campaign to bring a short burst of everything you need to know about the day ahead as this election unfolds -  here is today's edition .

Tap here to follow Politics At Jack At Sam's wherever you get your podcasts .

The Labour Party has hit out at "desperate claims" from Rishi Sunak as the Tories unveil another guarantee not to raise taxes.

The chancellor is today announcing what the Tories are calling the "Family Home Tax Guarantee", which is a pledge to:

• Not increase the number of council tax bands, re-evaluate it, or cut existing discounts;
• Maintain the Private Residence Relief - meaning people with one home that has always been their sole residence, and the grounds are less than 5,000 square metres will continue to not pay capital gains tax if it is sold;
• Not increase the rate or level of stamp duty.

The Tories are continuing to claim that Sir Keir Starmer is going to raise taxes on families by £2,094 - something that is highly disputed by experts, including Sky's economics and data editor Ed Conway .

The party also says that shadow chancellor Rachel Reeves proposed changing council tax to a property tax, and are challenging Labour to match this new pledge.

Chancellor Jeremy Hunt said in a statement: "Rachel Reeves has previously called for a range of damaging new taxes on the family home just like Labour are looking at doing in Labour-run Wales; and that means she and Keir Starmer are coming for your family home.

"Only Rishi Sunak and the Conservatives will protect your family home to give you peace of mind with our guarantee that there will be no rises in such taxes for the whole of the next parliament."

But Labour has blasted the claims from the Conservative Party, saying in a statement: "We will not be raising taxes on working people. The Conservatives cannot be trusted on tax and taxes are at a 70-year high on their watch.

"These are more desperate claims from Rishi Sunak who lied to the British people before and is lying to them again."

By Alexandra Rogers , political reporter

Faiza Shaheen, who was blocked from representing the Labour Party in the general election, has announced she will stand as an independent.

Ms Shaheen, who initially won the Labour nomination for Chingford and Woodford Green, said she had decided to run as an independent after voters told her they felt "disenfranchised" by the party's decision to remove her as a candidate.

Labour removed Ms Shaheen as its candidate for the London constituency after she allegedly liked a series of social media posts that downplayed antisemitism accusations.

Yesterday she  announced her resignation from the party , accusing it of embodying a "hierarchy of racism".

She said she was weighing up whether to stand as an independent in Chingford, and on Wednesday afternoon, confirmed that decision.

The Liberal Democrats have announced a rail fare freeze as one of their manifesto commitments.

It would be funded via clamping down on tax avoidance and evasion, which the party says totals £38.5bn a year, and save commuters £115m.

Under the Tories, the Lib Dems say train tickets have soared while services have got worse.

The party's Treasury spokeswoman Sarah Olney said: "From Winchester to Wokingham, it is disgraceful that every day passengers are having to pay more for trains which are increasingly delayed or cancelled."

According to the party's analysis, commuters in Winchester, Hampshire, have seen season ticket prices climb by more than £1,000 since 2019, now standing at £6,432 a year.

In Harpenden, Hertfordshire, train commuters are paying £820 more, with tickets now costing £4,792 a year.

Rail fare reform would be implemented within five years, the party said.

By Sam Doak, OSINT Producer

As the country heads towards a general election, political parties have been competing through social media to get their messages to the public.

Sky News tracked the performance of the six highest polling parties across X (formerly Twitter), Instagram, TikTok, and Facebook to see how the race for online audiences is shaping up in the early days of the election campaign.

You can read about how they're doing below:

By Dan Whitehead , West of England and Wales correspondent

Seventy-eight days into the job and Vaughan Gething has lost the confidence of the Welsh parliament.

It may well be only by a narrow margin and because two Labour members were off sick - but whatever the factors behind this loss, it’s not a great look.

The first minister says he'll carry on, saying the vote was a gimmick. The Tories, Plaid, and Lib Dems here in Wales are all calling for him to resign.

D-Day commemorations tomorrow may put a momentary pause on the controversy - but Mr Gething now has a problem.

Do nothing, and he'll be constantly reminded the Senedd does not have confidence in his leadership. 

Resign, and trigger yet more political upheaval.

It may not be his choice: the Conservatives could put forward another vote of no confidence in the government, not just Mr Gething. They now are considering their next step.

All this amid an election campaign - with four weeks to go, what happens next in the Senedd could have a wider impact in UK politics.

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