Business idea

The fact that our new venture would be based in such a multicultural place as London straightaway gives us a huge opportunity to succeed. First of all because this broadens our target market, now we not only aim at English people and about 100,000 Russians living in London, but also all other nationalities who would like to expand their knowledge of Russia by staying at our little island of Russian culture called “Izba”. We have this confidence in existing demand due to a lot of research we have done recently.

Phrases like “I love Russia, Russians, your language and your culture!” or “I have been to Russia so many times and miss that and that so much! ” is something common to hear from a British person or any foreigner. So our aim is to provide that something they all miss or something they wish they could try. Surprisingly despite unstable political and economical situation in Russia it is becoming more and more popular country to know about and to talk about. The fact that it is European Unions largest trading partner gives it yet another opportunity for popularity growth and for us yet more people wanting to try out little something from Russia.

So the following is the description of the scope and content of our venture’s activities. Restaurant and bar will lie over two floors – ground floor and basement. Working seven days a week, from 11am to 4pm and then 6pm till 11:30pm. Food will be served in the above stated hours to a variety of Russian music in the background to match the customer’s desires. In the evenings they can enjoy the live music, which will make the atmosphere even more special, traditional and warm. Russian Restaurant’s menu will offer all dishes of traditional cuisine. It would be every day selection.

Moreover, restaurant will provide business lunch menu during the day, chief will accept special orders from all customers. There would be a separate menu for special occasions (birthday parties, celebrations, etc. ) Night bar with Russian billiard will be working seven days a week from 6 pm till 11:30 pm creating a very enjoyable atmosphere for the customers to relax in. Also on Fridays and Saturdays from 6 pm till 2 am Russian parties will take place in the Bar. All the customers will enjoy dancing to a mixture of different stiles of music, of course, including Russian music. Our friendly staff will always find the way to entertain people.

As we decided to combine various pieces of our culture, therefore this is the main and unique benefit of our restaurant. And as far as our restaurant will mainly concentrate on middle to upper class customers we will try to concentrate highly on service standards and quality of food. To achieve that we will have to apply a special marketing approach to reach our customer needs and wants. We will have the qualified staff to assist customers, the top food for them to enjoy, the finest style to make customers feel the genuine Russian atmosphere, the best entertainment to make them always happy and become regular customers.

And now we will have a more detailed look at the industry we want to enter, our service and its value, restaurant market, competition and some other important issues. Our private owned restaurant is a perfect example of monopolistic competition, which is the market where large number of firms compete by producing differentiated products, the gain here is a large product variety and consumer information. So in order to be successful we have to stand out with the service we provide and promote it using every possible way, and make sure the message reaches potential customers so they have the perfect knowledge.

Our restaurant value chain will be built up depending on three major aspects. Primarily value is added when a professional Russian Chef transforms raw food products into delicious Russian dishes. Excellent presentation of these dishes and overall hospitality makes the visit to the restaurant really worth full. The special traditional theme of the restaurant and variety of entertainments to enjoy add even more value to the time spent here. And value for money is the best possible compromise between the client and us.