What is the best business model for the small business or startup you have chosen?
What is the best business model for the small business or startup you have chosen? In one page, outline at least three different business models and then select the best model for your business. Then, give a short statement explaining why this is the best model. Remember, you will take feedback from all submitted portions of your plan, revise, and then submit the final business plan in Week 9.
Write a one (1) page outline in which you:
- Briefly describe three different business models.
- Select the best business model for your business.
- Create a short statement explaining why the business model you have chosen is the best model for your business. Give at least three supporting facts for your choice.
- Format your assignment according to the following formatting requirements:
This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
Include a cover page containing the title of the assignment, your name, your professor’s name, the course title, and the date. The cover page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
- Examine the process of innovating and developing ideas and business opportunities.
- Analyze different innovative business models to determine the best model for a specific venture.
- Analyze the management of a successful innovative company.
- Use technology and information resources to research issues in entrepreneurship.
- Write clearly and concisely about entrepreneurship using proper writing mechanics.
Running Head:
BUSSINESS MODEL 1
BUSSINESS MODEL 1
Considering opening a new business is a tough decision while we use it to work for others. Meanwhile, we are working for others, and it feels why we should not start our own business because of frustration from the boss and getting behave like a servant. No matter what we think, it is the best moment when we decided to open a new business. Personally, when It comes to my mind, I always want to open my own business. The three-business model I have on my mind, those are-
1. Specialty Restaurant
2. Day Care
3. Video and photographer
The restaurant serves traditional or authentic food for customers is known as a specialty restaurant. The food prepared in the traditional method with local ingredients, and it is well known somewhere in the world.
A daycare center is an essential business that every working parent, s requirement while they are at work or business. They need someone to take care of their childlike as parents or guardians. Meantime, they learn vital skills before they go to school.
Every human being wants to capture their unforgettable memory such as birthday, anniversary, etc. They want to achieve as still images or video. It is also going business trends where we can work part-time or full time and not require four years degree. It requires only short period training.
From the above three business models, I wish to start my specialty restaurant. I grew up in Katmandu valley. The famous place for historical and culture in Nepal as well as authentic food of Newari Community. The Newars are an ethnic community of Nepal. I belong to the Newari community. We are famous for our food, culture, and tradition. We have lots of variety of food, including veg and nonveg. One of the most popular cuisines is choela, which basically prepares from Buff meat with spicy spices mixed with green garlic leaves and mustard oil.
Since I have several experiences in different Nepalese Restaurants in the DMV Metro area, that always poor experience while they are serving our cuisine entirely differently. That makes me feel very embarrassed about how they are preparing food. If you are telling your guest you are serving authentic cuisine, please know at least some ingredients before you give a name to your dish.
I have a five-plus year of experience in a different division of Restaurants. I started my first job as a waiter in foodservice industries. From time to time, I have been trained in various positions expect cooking. I do have excellent communication skills and a passion for working in the hospitality industry. I enjoy work that gives me a power of positivity, seeks to learn from the past, and up to date with product knowledge. I have a different certification-related to food industries that help me to run a restaurant.
I am passionate and experience in food and industry. To open a restaurant, the basic requirements are the right place, skilled employees, and an atmosphere of the dining experience. My primary focus for customers will be the South Asian community. Northern Virginia or Baltimore, MD are two primary locations where I can meet the South Asian community, including the Nepalese society. For the hiring process of employees, I can collaborate with the Nepalese community service provider and the Embassy of Nepal. I can also post a job in social media for the hiring process. It will not tough to find the right person to feel the employees. The most challenging part will be creating a dining hall atmosphere. For the interior designing process, I must order shipment from Nepal. It could be an expensive and time-consuming process. The real idea behind the interior to provide the atmosphere of traditional dining experiences such as sitting on low tables or floor, arts related to culture and food for displays, serving plates, etc.
I believe foodservice industries is not just served food and beverage. It is about sharing famous cuisine from different parts of the world. That people can feel a real atmosphere of hospitality. While you are serving the food, the most important things are the surrounding atmosphere, such as interior design, presentation of food, and employees. To provide overall customer satisfaction and repeating trend, we must follow the basic requirements of operation that including skilled and professional service crew, atmosphere and clean area, food preparation techniques, and presentation of food if we miss one of the things from the above scenario that might because of unsuccessful business. However, there are few things related to successful business including, advertisement or marketing ideas to support the business.
References:
Nepal’s Newari Caste: Food, Culture and Traditions ⋆ Full Time Explorer. (2020, April 21). Retrieved July 24, 2020, from
Shrestha, B., Inside Himalayas, Rohan, Anjana, Prajwal, Eating in Nepal: beyond dal bhat, . . . Shrestha, S. (2018, March 06). Must try Newari food when in Nepal. Retrieved July 24, 2020, from https://www.insidehimalayas.com/must-try-newari-food-nepal/