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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.

• Getting Started

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Related articles.

• Resources for Entrepreneurs > Open a Business > How to Start a Small Business

How to Start a Fish & Chips Restaurant

How to Start a Small Business

Here's some helpful information that is ideal for entrepreneurial folks who hope to start a fish and chips restaurant. Read these tips before you start!

Wondering how to start a fish and chips restaurant? We take you step-by-step from start to success.

Why Fish & Chips?

Fish and chips restaurant startups are positioned to benefit from two long-term trends in the food service industry. First, today's diners are extremely interested in dining experiences with international flair. As a traditionally British food category, fish and chips establishments have the ability to capitalize on aspects of Irish and British culture to create one-of-a-kind local food experiences.

The other significant trend working in your advantage is the movement toward more casual dining options. Although formal dining establishments still exist, they aren't nearly as popular as informal and family-friendly establishments. Fish and chips restaurants fit squarely in the informal dining category, a feature that can be enhanced by creating a pub-style atmosphere.

How to Lease Space for a New Fish & Chips Restaurant

Not surprisingly, location is a major concern for fish and chip startups. Proximity to high traffic areas is essential in drawing first-time customers into your establishment. Since a large percentage of diners will select your restaurant on impulse, street visibility is also a key factor in startup success.

In the ideal scenario, you'll be able to identify leased space that has already been outfitted for a restaurant. If not, you may need to perform a retrofit of existing space. During lease negotiations , discuss whether the landlord will be willing to foot the bill for part of the retrofit in exchange for other concessions (e.g. a slightly longer lease term).

Tips for Equipping Your Fish & Chips Startup

Compared to other types of restaurants, fish and chips restaurants are fairly inexpensive startups, primarily because of their informal nature. Basic commercial kitchen equipment and an ample number of deep fryers are all you'll need to start pumping out the best fish and chips in town.

Yet entrepreneurs with limited startup capital may still find the equipment acquisition to be financially challenging. Leased equipment is an option, but a better alternative may be to look for good quality kitchen equipment on the secondary market. The restaurant industry has an exceptionally high business turnover rate, making it easy for new restaurant owners to find great deals on quality equipment.

Best Fish & Chips Restaurant Business Plans

As a startup small business owner, you need to have a business plan you can rely on for both external and internal purposes.

A shoddy business plan is a major misstep for a startup fish and chips restaurant. Even though it takes time to write a high quality plan, there are a lot of arguments why your company can't succeed without an effective business plan .

From a business ownership perspective, that makes business planning your first priority - and not a task that can be assigned to the back burner.

Where to Locate the Business

Most fish and chips restaurants sell primarily to local customers. As an aspiring entrepreneur, the most important advice we can give you is to avoid investing in an underperforming, unprofitable location. Given the option of paying more money for rent each month or investing that money in marketing, many local businesses find that it's a better investment to put the money into securing a great location.

Take a Look at Competitors

Well in advance of opening a fish and chips restaurant in your area, it's a good idea to determine how you will fit in the competitive landscape. Use the link below to generate a list of competitors nearby. Just enter your city, state and zip code to get a list of fish and chips restaurants in your community.

• Search for Fish & Chips Restaurants Near You

Is the local market large enough to support another fish and chips restaurant? If not, you had better be sure that you are doing things much better than the competition.

Talk to People Who Are Already in the Business

After you've evaluated your local competitors, it's essential that you talk to somebody who is already in the business. If you think owners of nearby fish and chips restaurants will give you advice, think again. The last thing they want to do is help you to be a better competitor.

On the other hand, an individual who has a fish and chips restaurant in a different city may be willing to share their entrepreneurial wisdom with you, provided that you won't be directly competing with them. In that case, the business owner may be more than happy to discuss the industry with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.

The key question new becomes: how to find an entrepreneur who is running a fish and chips restaurant who is willing to advise you because you live in different cities?

No problem! Just use the link below and try a random city/state or zipcode. Then start dialing for advice until you are successful.

• Find Your Fish & Chips Restaurant Mentor

Advantages of Using a Business Broker

Business owners are decision makers. And the first decision you'll need to make is between a fish and chips restaurant startup and an acquisition. In most cases, there are compelling financial and practical reasons buying an existing fish and chips restaurant.

Although you could navigate a business acquisition on your own, most prospective fish and chips restaurant owners enlist the services of a business broker .

The best business brokers will ensure that you get the right business for the right price, and will help you avoid common fish and chips restaurant acquisition mistakes.

Is Franchising the Right Option?

Your chances of achieving the entrepreneurial goal of achieving your top business goals greatly improve if you become a franchisee and benefit from the prior work of others and their lessons learned.

Before you get too far along in your plan to open a fish and chips restaurant, you would be wise to assess whether there are good franchise opportunities available that might simplify your entering the business.

The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.

• Directory of Franchises

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These additional resources regarding getting started as an entrepreneur may be of interest to you.

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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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How to start a fish and chips shop

• Small Business Tips
• Jun 19, 2023
• By deependra

Fish and chips is an Australian food institution. No wonder, given ours is a land girt by sea. The very first fish and chips shop in Australia opened its doors way back in 1879 on Sydney’s Oxford Street. Fast forward to today and you can’t walk past a corner takeaway shop or a pub without smelling the fragrance of fish and chips.

For food entrepreneurs looking for a new venture, here are six steps for starting your own fish and chip shop.

1. Write a business plan

An effective business plan includes market research, business strategies, target audiences, staffing, challenges, opportunities, and a clear direction. It helps you to communicate your vision and persuade others to support you, whether as an investor or as a loyal customer.

2. Seek council approvals

Before you start selling fish and chips, you must gain council approval to open your new food business. Each local council and state government may have a different set of guidelines, so be sure to do your research.

3. Check food safety regulations

It’s also important to familiarise yourself with Australian food safety laws and regulations. Industry regulators are known to be very strict in their efforts to ensure the safety of the public (i.e. your paying customers). You and your staff may wish to undertake a food safety course to get certified.

4. Find dependable suppliers

Securing the right suppliers for your food business can be crucial. Seek partnerships with quality producers and distributors, as well as commercial kitchen equipment suppliers, to give you access to the tools for success.

5. Select your commercial kitchen equipment

The key items for your new commercial kitchen may include the following:

• Large fridges: For keeping seafood fresh.
• Deep fryer: A staple in every fish and 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 potatoes for chips.
• 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: Essential for all the fresh produce you’ll need to keep on site.
• Utensils and smallwares: Consider scoops, tongs, knives, sauce bottles and napkins.
• Scrap bin: To dispose of any scraps to help keep your space clean and tidy.
• Point of sale systems: Offer your customers convenient ways to pay for their order

6. Naming and branding your business

One way that you can help you store stand out from the competition is with a catchy name that perfectly captures your business and values.

A memorable business name and a carefully considered marketing strategy can help set your fish and chip shop apart. Have your business name and branding emblazoned across your signage, menu boards and advertising material to grab your customers’ attention.

Recommended reading: How to Register Your Business Name in Australia

Are you ready to open your fish and chips shop?

There are many challenges in the hospitality industry – from accidental food poisoning, to theft, to damage to your business premises. Luckily you can reduce your exposure to risk with business insurance* for restaurants and cafes .

When you choose BizCover for your business insurance, you will have the power to compare competitive quotes from leading Australian insurers. Compare policies today online and get covered in minutes.

This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. © 2024 BizCover Pty Limited, all rights reserved. ABN 68 127 707 975; AFSL 501769

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How to Start a Fish and Chips Business | SkillsAndTech

Fish-and-chip shops are a staple in the United Kingdom because of their access to fresh fish. It is, after all, surrounded by water. According to the National Federation of Fish Friers (a real organization that exists in the U.K.), there are around 10,500 specialty fish shops in the country, and Brits eat a whopping 382 million chip-shop meals every year. That’s a lot, but what about stateside?

In the United States, which is rife with Chinese food takeout and pizza delivery, chip shops aren’t nearly as much of a cultural staple, but that doesn’t mean a fish-and-chips business can’t succeed. Fish and chips are tasty, and launching a small takeout operation doesn’t require a huge amount of overhead. It’s an easy business to launch and hit the ground running.

See Also: What Should I Charge for Carpet Cleaning

Table of Contents

Choose the Type of Fish-and-Chips Business

The first step to a solid fish-and-chips business is a solid plan. When launching your chip shop, you’ll likely be choosing between two business models: a small takeout business or a sit-down restaurant.

Takeout chip shops are the British classic, newsprint and all. Traditional chip shops use newsprint as takeout containers, folded into a cone so you can walk and eat at the same time (perfect for a stroll along the coastline). They have a deli-like takeout counter and probably only a couple of seats and tables at which people can wait or eat. This has a much smaller overhead than a traditional restaurant because it can utilize less square footage.

See Also: How to Write a Business Plan for Starting a Medical Spa Practice

A sit-down restaurant does require more overhead, especially because you need more square footage. You’ll also have to hire waiters and servers rather than just a chef and cashier, but you can have a bar and sell alcohol for an additional revenue stream. Consider making your full-service, fish-fry restaurant cozy like a traditional pub. Alternatively, you can do a hybrid of both business models and offer takeout options while having a casual dining space.

Pick the Perfect Location

Location can make or break any food-based business, so you’ll want to choose wisely. The demographics of an area matter, and the average household income of the location you choose matters a lot. For example, fish and chips are generally a lower-cost, fast-food type of business. This does quite well in lower-income or working-class neighborhoods where people might be short on money and looking for a quick bite after an exhausting day of work.

See Also: How to Sell a Business Plan

A classic chip shop might not succeed as well in a higher-income area. You’ll certainly need to source higher-quality ingredients. In these types of towns, a sit-down restaurant might be a better option.

Beyond demographics, you’ll also want to consider things like foot traffic and competition. Since chip shops are generally takeout businesses, they thrive in places with a lot of foot traffic, like busy main streets and town centers. Unfortunately, these places also have a lot of competition. Make sure you don’t open your fish-and-chips shop too close to another establishment that does the same thing. If you do, offer different options.

Get the Equipment

Regardless of the fish-fry business plan, all 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 (unless you’re using frozen, pre-cut fries)
• Chip scuttle (a hygienic unit that stores fresh chips)
• Batter mixer
• A point-of-sales system

These are the basics, and depending on the size of your restaurant, you’ll need extras like tables, chairs and utensils.

See Also: How to Become a Brighton Handbags Retailer

Handle the Legal Necessities

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

• A business structure: For a restaurant, you’ll likely want to form an LLC. This helps protect you against lawsuits, protects your personal wealth and prevents your company from being taxed twice.
• A federal and state tax identification number: This can be obtained through the IRS and allows you to properly pay taxes on your business’s income. You should get this once you create your LLC.
• A business license: You can get this from your local government, but you’ll need the proper insurance first, like general liability insurance.

Depending on your state, you might also need additional permits like a building or construction permit (if you’re making any changes to your establishment before you launch) or a sign permit (if you plan on putting up a large sign in front of your restaurant).

See Also: How to Start Your Own Movie Theater

Handle the Food Permits and Licensing

Regardless of whether you’re operating a takeout fish-and-chips business or a sit-down restaurant, you’re still going to need to get a permit in accordance with the U.S. Food and Drug Administration. This can cost anywhere between $100 and $1,000, and it might also be dependent on the size (or number of seats) of your restaurant and the number of employees.

The requirements vary from state to state. For example, New York City requires a food service establishment permit for any business selling food and drinks or using a shared kitchen. It costs $280 and requires annual renewal. If your restaurant has a frozen dessert machine, you’ll also need a frozen dessert manufacturer permit.

See Also: How to Start a Mom & Pop Store

Regardless of the state, you can apply for a permit from your local health department. You’ll first be required to pass an inspection to make sure your chip shop is up to code. Anyone on your staff who handles food will also need to take a test and obtain a food handlers’ license.

Find Quality Suppliers

No matter how sound your fish-fry business plan, you won’t succeed without quality suppliers. Decide whether you want to work with fresh or frozen fish and start the search. The two most common fish used in traditional U.K. chip shops are cod and haddock, but look into sustainable options. It might be cheaper to avoid sustainable fish now, but it won’t be affordable a couple decades from now when all the cod have been farmed out of existence.

See Also: How to Start a Home Brewing Supplies Store

You’ll also need to find suppliers for your frying oil. Traditionally, you’ll want to use rapeseed oil, beef dripping or palm oil, which have their pros and cons. The oil is essential for having crispy chips with fluffy centers and fish batter that isn’t soggy, so you’ll need to find a great wholesaler. Ask around at local chip shops or seafood restaurants, search online or consider looking in a trade magazine.

Don’t Forget the Marketing Plan

Marketing should already be worked into your fish-fry business plan, so don’t overlook it. You could have the best staff, the best food and the best service in the world, but if no one knows you’re open, no one is going to come inside.

Consider launching with a grand-opening event and advertising in local papers and church bulletins. Also sign up for Yelp and Google My Business and promote yourself using social media. Facebook and Instagram ads are an inexpensive way to get the word out online.

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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 & 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

• Beauty Products Vending Machine
• Computer Service
• Molding Supplier
• Mennonite Church

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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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UHY Hacker Young, 2007 Time to Sell. Web.

Wallis, C., 2007. Hyper kids? Cut out preservatives. Web.

Van Horne, J.C., 2004. Financial Management Policy XII Edition . New Delhi India: Prentice-Hall of India Private Limited.

Walther, L., 2010. Principles of Accounting Chapter 1 . Web.

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Ten Tips to Start a Successful Fish n Chip Shop

If you’re looking to start up a take-away food business in the UK, then you’ve probably already thought about starting up a chip shop. Not only is this a traditionally British thing to do, but it can be a great livelihood for anyone looking to strike off on their own.

This isn’t always the easiest business to get into, but with enough know-how and perseverance you can become a real success ! Here are some of our best tips when it comes to starting a chip shop:

#1 Location

Before you think about anything else, you need to consider where you’re going to set up shops. Certain areas are much more likely to guarantee you more business than others. For example if you can get a prime location near a school or large housing estate then you’re likely to see a much higher number of customers than if you were to set up shop on a country lane or away from the hustle and bustle of a town centre.

#2 Competition  

Do your research, what other shops are around and what’s the level of competition here? If there are only one or two other chippies about then this could be seen as healthy competition and as long as you don’t literally pitch up next door then you should do well. However, if every other shop in the area is a chip shop then you’d do well to look at a different area entirely.

#3 Building

Next you need to strongly consider the building you’re looking at leasing or buying, has it got enough room for all your equipment? Can you have a seating area if you want one? Is there parking on site or nearby? Make sure that the building is fit for your purpose before committing to it – this is vital so take your time when picking a location.

You need to stand out from the crowd and make sure that you get people through the front door. One of the best ways of doing this is to have bright, clear signs on the outside of your shop as well as a clear window so that customers passing can see straight in. The more aesthetically appealing your sign, the more likely it is that people will want to purchase their fish and chips from you.

#5 Fish and Chip Packaging

Not only do you need to ensure that you’re using the right type of packaging materials for your products , you should also focus on having a good design. If you’re just starting off then having your own custom branded fish and chip packaging may seem like quite a stretch, why not look into off-the-shelf packaging designs? These can offer good visual appeal and excellent practicality without the larger price tags. Check out our Go EAT Range, designed to suit the industry.

Regardless of whether you have stiff competition or not, you will want to ensure that your chippy provides the best quality food with high quality packaging from a great quality shop. Why? Because people will always go back to a place they think is great and, what’s more, they’re likely to pay more for what they deem to be better quality.

#7 Advertise

While word of mouth and walk-by custom will help to make up a significant portion of your business, you will have a lot to gain through local advertising. Try to get into the local newspaper, town crier and maybe even do leaflet canvassing of the local area. This will all help to raise awareness of your business within your target market and could drastically improve the amount of people you get through your door.

#8 Get the Right Staff

Ideally this should be higher up the list, but everything here is equally as important. Having happy, bubbly, helpful staff that engage with your customers can be the difference between success and failure. People always remember when they get good service, but they’ll tell everyone they know if they had a bad experience – making sure they feel welcomed and cared for is vital.

#9 Portion Size

Not everyone wants mammoth portions, but then again not everyone will enjoy smaller sizes. Why not offer several different potion sizes and make sure you have the fish and chip packaging to match so that it always looks well presented. Don’t forget to make sure that these are priced differently so that your customers always feel like they’re getting the best deal without you losing out on profits. There’s nothing worse than having a delicious dish with grease getting everywhere! Our fast food packaging – The Go EAT Range is the perfect packaging for your fish & chips.

#10 Be Willing to Change

Once everything is up and running, you may find that there are areas that you could improve, things you can do better and other products you could sell. Do not be afraid of changing, in fact this could be the one tip that ensures your business’s success. Be willing to make key adjustments in order to cater to your customer and ensure that your company continues to thrive .

Looking for the best fish and chip packaging? Talk to Charlotte Packaging today , with years of experience working within the food industry we’re able to provide you with the high quality packaging you need to ensure your fish and chips always look the best!

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Fishing Shop Business Plan

Start your own fishing shop business plan

McKenzie Tackle and Bait Shop

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.">.

Located off Highway 126, next to the new Oakridge Plaza, McKenzie Tackle and Bait Shop will offer a convenient one-stop resource for all fishing products to travelers heading into the McKenzie National Parks System. Highway 126 is the gateway to over 130 public fishing locations and the Oakridge Plaza is the last commercial shopping and dining area before entering the McKenzie National Parks System. McKenzie Tackle and Bait Shop will capitalize on its location to pull in customers. It will offer a wide selection of fishing products as well as information on fishing conditions.

Brad West, owner of McKenzie Tackle and Bait Shop, has been an avid fisherman in the area for the past 25 years.  He knows all the area’s best fishing locations and has managed two fishing tackle and bait shops in the past seven years.

1.1 Objectives

• To become a familiar and essential shopping destination for travelers heading out for a day of fishing.
• Build a customer base that will grow each year.
• Offer exceptional service and products to both the experienced and novice fishing enthusiast.

1.2 Keys to Success

The keys to success for McKenzie Tackle and Bait Shop are the following:

• Location : McKenzie Tackle and Bait Shop is located off Highway 126, next to the new Oakridge Plaza. Highway 126 is the gateway to over 130 public fishing locations in the McKenzie National Park System. Oakridge Plaza is the last commercial shopping and dining location before entering the McKenzie National Park System. Many travelers routinely stop in the plaza at the beginning and end of their day in the park system.
• Service : Brad West, owner of McKenzie Tackle and Bait Shop, knows that customers are not in his shop to browse. They need the right product or the best information on where to fish. McKenzie Tackle and Bait Shop will offer exceptional service and get the customers on their way so they can enjoy a day of fishing.

1.3 Mission

The mission of McKenzie Tackle and Bait Shop is to be the best, most visible, fishing product and information resource in the McKenzie National Parks area. We want travelers to plan stopping at our store as a important step in their day of fishing.

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.">

McKenzie Tackle and Bait Shop will offer a convenient one-stop resource for all fishing products to travelers heading into the McKenzie National Parks System. The shop will be open April to November.

2.1 Company Ownership

McKenzie Tackle and Bait Shop is a sole proprietorship owned by Brad West.

2.2 Start-up Summary

Estimated start-up costs and expenses are set forth below. The start-up costs are to be financed by Brad West’s personal investment.

Store products include:

• Fly rods and reels.
• Lines-leaders-tippets.
• Fishing gadgets-net/retractors.
• Fishing footgear.
• Flies and fly tying materials.
• Misc: drinks, snacks, souvenirs, etc.

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

The McKenzie National Park System is dotted with a number of small fishing tackle and bait shops on small roads around the park system. Most of them only serve a few fishing areas and have irregular operating hours. Highway 126 is the only main traffic artery into the park system and yet there are currently no other tackle and bait shop located on Highway 126.  This is because the closest commercial center to the park system, Oakridge Plaza, is eight miles from the park’s entrance. Over 90% of the park visitors use Highway 126 to access the park system. Last year, the park system welcomed 100,000 fishing enthusiasts.

These enthusiasts were typically male between the ages of 20-45 years old.  A fishing party of three to five is the norm for the area. Approximately 70% of these fishing enthusiasts visit the park system several times a year and develop strong customer relationships with the area’s businesses.

The McKenzie Tackle and Bait Shop will create a base of loyal customers with quality service and fishing information that customers will come to depend.

Strategy and Implementation Summary

Highway 126 is a four-lane highway running north to the park system and south to the town of Mapleton.  The McKenzie Tackle and Bait Shop is located just off the northbound lanes and is next to the Oakridge Plaza.  The shop will erect a large sign to grab customer attention to its location.

Once in the store, Brad West will provide the exceptional service that will build a loyal customer base.

5.1 Competitive Edge

McKenzie Tackle and Bait Shop’s competitive edge is two-fold:

• Location : McKenzie Tackle and Bait Shop is located off Highway 126, next to the new Oakridge Plaza. Highway 126 is the gateway to over 130 public fishing locations in the McKenzie National Park System. Many travelers routinely stop in the plaza at the beginning and the end of their day in the park system.
• Service : Brad West has the experience to provide exceptional service.

5.2 Sales Strategy

The key to customer satisfaction is a customer-friendly store that is easy to navigate and has knowledgeable people to help customers find what they want quickly. 

5.2.1 Sales Forecast

The following is the sales forecast for three years. The monthly estimates for the first year are included in the appendices.

Personnel Plan

Brad West will operate the shop without any additional staff.

Financial Plan investor-ready personnel plan .">

The following sections will outline the important financial assumptions, break-even analysis, profit and loss, cash flow, and the balance sheet.

7.1 Break-even Analysis

The break-even analysis indicates what is needed in monthly revenue to break even.

7.2 Projected Profit and Loss

The following table and charts will highlight projected profit and loss. The appendices include first year monthly P & L estimates.

7.3 Projected Cash Flow

7.4 Projected Balance Sheet

The following is the projected balance sheet for three years. The first year monthly projections can be seen in the appendix.

7.5 Business Ratios

Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 5091, Sporting & Recreational Goods, are shown for comparison.

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• Best fish & chips

Best fish & chips in Moscow restaurants

• Current location
• Point on map

Fish & chips

Such side-dishes as mushy beans, gherkins or onions are often served with fish and chips.

Coeur d’Alene Thursdays 11am – 6pm

Moscow Fridays 11am – 6pm

Tom and Tracy here! We are so excited to be a part of The Fish Folks legacy. Through our mobile seafood business, we bring in the highest quality wild and sustainable seafood from the coast to the Inland Northwest. All while providing excellent customer service and good vibes. Locally owned and operated for over 50 years, we look forward to continuing the unique service we provide to the communities of Coeur d’Alene and Moscow, Idaho.

See you soon!

Providing Fresh and Friendly Seafood

Best Fish & Chips in Moscow, ID

Moscow fish & chips, establishment type, traveler rating, dietary restrictions, restaurant features.