GO MARKET INTERNATIONAL
SCHOOL TO LAND EDEPIE, YENAGOA BAYELSA STATE
Business Plan for Restaurant and Barbecue
Prepared by:
Ebiye Derick Inina (CEO, GO Market International)
Business Address: School To Land, Edepie, Yenagoa, Bayelsa State
1. EXECUTIVE SUMMARY
Business Name: GO Market International
Location: School To Land, Edepie, Yenagoa, Bayelsa State
Capital Requirement: ₦10,000,000
Industry: Food & Beverage (Restaurant and Barbecue)
Mission Statement:
To provide exceptional dining experiences by serving high-quality, delicious barbecue dishes
and other local and international cuisines in a comfortable and inviting atmosphere.
Vision:
To become a top destination in Yenagoa for barbecue lovers and food enthusiasts, offering a
unique blend of local flavors and international standards.
Objectives:
- Establish a well-known restaurant within the first year.
- Serve an average of 200 customers daily by the end of Year 1.
- Expand to multiple locations within three years.
2. GENERAL BUSINESS INFORMATION
Business Structure:
- Type: Sole Proprietorship
- Owner: Ebiye Derick Inina
Business Location:
School To Land, Edepie, Yenagoa, Bayelsa State – strategically located to attract students,
professionals, and residents.
Legal Structure:
GO Market International is registered under Nigerian law with the Corporate Affairs
Commission (CAC).
Business Activities:
The business will focus on offering a variety of barbecue dishes, local and continental meals,
and beverages. The restaurant will cater to dine-in, take-out, and delivery services.
3. PRODUCT DESCRIPTION
Primary Products:
- Barbecue: Chicken, beef, fish, and other grilled delicacies.
- Local Dishes: Traditional Nigerian meals such as Jollof rice, banger soup, pepper soup,
native, vegetable soup.etc
- Beverages: A range of soft drinks, fresh juices, and alcoholic beverages.
Competitive Advantages:
- Unique and diverse menu offering both local and international cuisines.
- High-quality ingredients sourced from reputable suppliers.
- Prime location near schools and residential areas, ensuring high foot traffic.
- Professional and friendly service, creating a welcoming environment for all customers.
4. ACCESS TO MARKET AND MARKETING PLAN
Market Analysis:
Yenagoa is a growing city with a diverse population, including students, professionals, and
expatriates. There is a strong demand for quality dining options that offer both local flavors
and international cuisines. The barbecue concept is particularly popular, with a growing
trend towards outdoor and casual dining experiences.
Target Market:
- Students and faculty from nearby educational institutions.
- Local residents looking for quality dining options.
- Professionals seeking a comfortable place for lunch or dinner.
- Visitors and tourists exploring Yenagoa.
Marketing Strategies:
- Grand Opening Promotion: Offer discounts and special deals during the first month of
operation to attract initial customers.
- Social Media Campaign: Utilize platforms like Instagram, Facebook, and Twitter to
showcase menu items, engage with customers, and promote special offers.
- Local Partnerships: Collaborate with local businesses and event organizers to cater for
parties, corporate events, and social gatherings.
- Loyalty Program: Implement a customer loyalty program that rewards repeat customers
with discounts and free meals.
- Word-of-Mouth: Encourage satisfied customers to refer friends and family by offering
referral discounts.
5. MANAGEMENT STRUCTURE
CEO: Ebiye Derick Inina
Oversees overall business operations, menu development, and strategic planning.
Head Chef:
Responsible for kitchen operations, menu planning, and ensuring food quality and
consistency.
Restaurant Manager:
Manages daily restaurant operations, staff supervision, and customer service.
Marketing and Sales Manager
Handles marketing campaigns, promotions, and customer engagement strategies.
Finance Officer:
Manages budgeting, financial planning, and record-keeping.
Service Staff:
Engaged in customer service, order taking, and maintaining a clean and pleasant dining
environment.
Kitchen Staff:
Responsible for food preparation, cooking, and maintaining hygiene standards in the
kitchen.
6. FINANCIAL INFORMATION
Capital Requirements:
- Restaurant Setup (Furniture, Equipment, etc.): ₦5,000,000
- Initial Inventory (Food and Beverage Supplies): ₦2,000,000
- Marketing and Promotion: ₦1,000,000
- Staff Salaries (Initial 4 months): ₦1,500,000
- Miscellaneous (Permits, Utilities, etc.): ₦500,000
Revenue Projections:
- Daily Sales: ₦150,000 (average, from 200 customers spending ₦750 each)
- Monthly Revenue: ₦4,500,000
- Annual Revenue: ₦54,000,000
Profit Margin:
Estimated at 30% by the end of Year 1, after accounting for expenses.
BREAK-EVEN ANALYSIS:
The business is expected to break even within the first 6-8 months of operation.
7. IMPLEMENTATION SCHEDULE
Month 1-2:
- Secure location and complete renovations.
- Purchase equipment, furniture, and initial inventory.
- Hire and train staff.
Month 3:
- Launch grand opening with promotional offers.
- Begin full-scale operations, focusing on delivering quality food and service.
Month 4-6:
- Monitor performance, adjust menu offerings based on customer feedback.
- Intensify marketing efforts to increase customer base.
Month 7-12:
- Evaluate business performance and make necessary adjustments.
- Explore opportunities for expansion or additional services, such as catering.
