Corn and beef prices remain quite high the date publication

YIN & YUMMY BUSINESS PLAN

3. Hamzi Bin Hamdan (2021525453)
4. Hanif Fikri Bin Hanapiah (2021380201)
5. Sharina Binti Sopian (2021944765)

Submitted to: Profesor Madya Dr Jati Kasuma Ali Submission Date: 24th December 2021

3.1 Nature of the Industry...................................................................................................9 3.2 Note trends..................................................................................................................10 3.3 Cultural and governmental influences........................................................................11 3.4 Key success factors in an industry..............................................................................12 4. Description of venture......................................................................................................13 4.1 Opportunity.................................................................................................................13 4.2 Benchmarks................................................................................................................14 5. Marketing Analysis and Competition...............................................................................15 5.1 Introduction to Marketing Plan...................................................................................15 5.2 Market size and Trends...............................................................................................18 5.3 Sales Forecast.............................................................................................................21 5.4 Competition and Competitive Edges..........................................................................23 5.5 Marketing Strategy.....................................................................................................25 Operation Plan..................................................................................................................27 6.

6.1 Manufacturing Process..........................................................................................27 6.2 Future Equipment Needed.....................................................................................28 7. Production Plan.................................................................................................................29 Introduction............................................................................................................29 7.1
7.2 Operational Objective.................................................................................................29 7.3 Facilities and Improvement........................................................................................30 8. Organizational Plan...........................................................................................................35 8.1 Share of Ownership...............................................................................................35 Organizational Chart..............................................................................................36 8.2

Table 19: Organizational budget..............................................................................................50 Table 20: Startup cost...............................................................................................................51 Table 21: Working capital........................................................................................................52 Table 22: Start-up capital and financing..................................................................................53 Table 23: Cash flow statement.................................................................................................54 Table 24: Income statement......................................................................................................55 Table 25: Balance sheet............................................................................................................56 Table 26: Project milestones....................................................................................................57

LIST OF FIGURE

First and foremost, we would like to give our thanks to University Technology Mara (UiTM) Samarahan for allowing us to complete this task. Following that, we would like to express our gratitude to Profesor Madya Dr Jati, our Principle of Entrepreneurship (ENT530) lecturer, for providing us with this platform as well as ongoing great support and guidance throughout the semester.

Last but not least, we owe a great deal of gratitude to our beloved teammates Dayang Azizah, Faira Natasha, Sharina, Hamzi and Hanif Fikri who continue to stick together and work hard to complete a good task while receiving all of the necessary support and obligations.

Finally, we hope that our restaurant and services will encourage people to try new Chinese dishes and provide our customers with excellent food delivery service. Yin&Yummy will undoubtedly achieve high income and profits every year due to the skills of everyone associated in this business.

6

Yin&Yummy is the name of our business. We attempted to replicate the famous term 'yin and yang' and made it our own by naming it Yin&Yummy because we offer Chinese food. We believe that by using names that are unique and appealing, we will be able to attract customers. We're hoping to introduce customers to the enormous array of Asian foods so that they may experience them for themselves.

The color red was chosen for our logo since it is said to draw individuals quickly and subconsciously.

2. To share with the rest of the world our family's authentic Chinese cuisine recipes.

3. To provide the greatest cuisine, service, and ambiance in Kuching for our clients to celebrate life's important moments.

Food delivery has now become an integral part of the urban lifestyle. The food delivery market is mostly driven by a busy work schedule and high-income professionals who rarely have time to make their meals at home. Food delivery service is similar to shipping service seeing as how the requested meal is brought from the restaurant to the customer by either restaurant workers or delivery workers of a food ordering firm. Firms use a variety of patterns, which varies based on their own goals. But the aim is to offer freshly prepared food more quickly and safely.

Restaurant prepared food delivery is an on-demand service that has disrupted the traditional market. Most of it are into accepting orders, passing it on to partner restaurants and then delivering it to the customers. Grab and FoodPanda, for example, have teamed with restaurants to deliver meals to buyers. Fast food franchises such as PizzaHut, Domino's, and McDonald's, on the other hand, handle everything themselves or use third-party apps to take orders and deliver them.

3.2.2 Demographics trends

Demographics are a set of characteristics which can be used to predict consumer products interests or purchasing habits. A variety of demographics might have an impact on a firm. Most businesses determine their primary customers based on these numerous characteristics. They then use marketing and discounts to attract individuals who share similar qualities. Demographics are significant because they provide a broad overview of a population's many traits. Some of the demographic variables include age, income, geography, household size, education, occupation, gender, race and employment status. The top demographic categories for Yin&Yummy Bhd. are adults age 18 to 34 years old. Age appears to be a factor in how frequently people use online delivery services, as survey results indicated that younger consumers spend more on prepared foods than older generations. 63 percent of persons aged 18 to 29 have used a multi-restaurant delivery website or app service, followed by 51 percent of those aged 30 to 44, 29 percent of those aged 45 to 60, and just 14

3.3 Cultural and governmental influences

Government is the greatest major influencer on our society nowadays since it invests approximately 2.5 trillion dollars each year, and every dollar has the capability to affect our culture and behaviour through laws, rules, subsidies, pensions, and tax incentives. For instance, due to the trend of sickness and uneasiness caused by the continued expansion of Covid-19, state and local governments mandated temporary closures on restaurants and other non-essential businesses, dramatically worsened the restaurant economy.

4. Description of venture

4.1 Opportunity

Sarawak’s existing Chinese eateries such as The Mandarin Restaurant and the Heritage Restaurant.

In addition, creating demand for the company's products necessitates far more than merely introducing it to the market. Yin&Yummy Bhd. have conducted some research to establish what the customers’ demands and desires are because successful businesses adapt their products to the needs of their buyers. Yin &Yummy primary's location is in Saradise, Kuching, which is the heart of the restaurant industry and is primarily populated by Chinese people. Therefore, this group of people will raise the demand of our product.

 By the end of February 2021, our products will be ready to be sold.

By the end of 2022, we hope to have ensured that our delicacies are selling quickly and are well-known among customers in Sarawak.

Marketing refers to a Yin & Yummy company's efforts to purchase or sell a product or service. Marketing includes advertising, selling and supplying products to consumers or other companies. Some marketing is done by professionals working in the marketing and promotion departments of a corporation seeking through advertising to attract the attention of key potential customers. Promotions are directed at certain consumers and may include celebrities, catchy phrases or slogans, iconic packaging or graphic designs, and media exposure as a whole.

Marketing as a strategy encompasses all the activities that a business undertakes to gain and retain relationships with customers. Potential or former customer networking is also part of the work. Marketing at its core aims to match the products and services of a company with customers who want access to those products. Ultimately, product-to-customer matching ensures profitability.

Marketing plan helps the developer of the product to evaluate market acceptance and penetration for target customers. The product of the business can be mark for the strategies. It also can estimate the marketing financial requirement for the business. Last but not least, marketing plan help the entrepreneurs to identify the need and want of the customers and it can improve the product that they have been developed to fulfil their request.

 Objective in Marketing
Once Yin & Yummy had established the strengths and weaknesses and the opportunities and threats available, Yin and Yummy can redefine the marketing objectives and how these fit in to the business objectives.

A customer is an individual or business that buys goods or services from another company. Customers are important for driving income. Companies have nothing to offer without them. Most public-facing firms are competing with other firms to attract customers, either by aggressively advertising their products or by lowering prices. Customers are the people and businesses that buy goods and services from another company. Some businesses monitor their customer relationships closely to identify ways to improve service and products to understand how to better meet their customer needs. They can be given a competitive edge by how businesses treat their customers. Although consumers may be customers, consumers are described as those who use or purchase goods and services on the market.

In many cases, consumers are graded. Customers are most commonly classified as external or internal. External customers are dissociated from business operations and are often interested in buying a company's final goods and services. Internal customers are individuals or companies that are integrated into business operations, often existing within the company as employees or other functional groups.

As the new comer for the food market industry, Yin and Yummy need to apply all of the easiest source for marketing. The example is through social media, banner and website. The market size refers to the number of potential customers located to the target market that include the proportion controlled by existing and main competitors. To know the market size, the Yin and Yummy need to identify the total number of target customers in the market. After that, it will be multiplying with the amount of expected price.

Table 1: Market size

Figure 2: Market share after entering

5.3 Sales Forecast