Venture plan is written by the management of the company as to how the management will allocate the resources of the new business and attainment of the specific business objectives which help the business owner to utilize the financial resources in a way that all the goals could be attained with that resources. As concerned with the venture of a new restaurant or a café in the market of Saudi Arabia working with a chain of markets and shopping centres. Food items in the restaurant will be offered at reasonable and affordable prices.  It will also serve the people in many countries with a number of branches dealing with a variety of products. The venture plan of a new restaurant or a café is designed in a way where customers get fair prices of the items used in daily life in discounted price with a quality product. There may be some issues in the venture which are criticized by the competitors and customers (Litow, 2018).

Problem & proposed solution

Starting a new restaurant or a café in the market of Saudi Arabia is not a quite easy task. In Saudi Arabia restaurant or café, business is growing rapidly thus the market is highly competitive. A new restaurant or a café has to come up with new ideas and innovative solutions to the problems of customers regarding existing restaurants and cafés. Thus, a new restaurant or café owners can ensure a safe investment in the competitive market. People initiating the business of a restaurant and café in the Saudi Market face several challenges including the driving forces of competition.

In this venture plan and innovation, reflection reports my identified problem is challenges linked with the startup of a new restaurant or a café. My identified challenges include financial problems, competition, social entry barriers, laws and regulations, and brand loyalty of existing restaurants or cafés in the same targeted segments. The proposed solution for this identified problem is to develop an app (digital application) for the new businessman and entrepreneurs to provide them information about the strategies and tactics through which they can overcome challenges and issues associated with the startup of a new restaurant or a café (Litow, 2018). 

References of The Venture Plan

Litow, S. S. (2018). The Challenge for Business and Society: From Risk to Reward. John Wiley & Sons.