Risk Analysis
Even with a full proof business plan, there is no certainty as to how the market will behave and respond in the forthcoming years. The country’s entire economic structure can turn upside down in a few months if some drastic changes occur; the current COVID-19, for instance. If the social, financial, and environmental factors do not cooperate with the company, the chances of surviving, in the long run, would significantly come down. A business like this can only thrive in a place where the economic activity runs in full vigor. If there is prolonged stunting of the place’s economic activity, the business will collapse as a natural result of that. People may not be interested in enjoying a luxurious space when their survival is at threat. Furthermore, the competitive forces’ plans and strategies can never really be understood; they might come up with some radical methods of doing business and grab the market share in a short period. Thus, the financial success of a company like this can never be assured.
Exit Strategies
In case of serious economic failure, due to financial collapse or unmanageable competition levels, the business would have to be shut down. The assets would be sold off to repay the debts. Any interested employees can also purchase the assets and carry forward the business under their ownership if they are willing. Using the generated amount, the company owner would invest in some other business to find an alternative livelihood option.
Conclusion
From the above-mentioned business plan, it is evident that there are a lot of possibilities for the company if things go well, according to the plan. The specialized services that would be provided to the customers are most likely to result in economic success in a short span of time. The business’s mechanism has been meticulously crafted, keeping in mind the present situation and public demand. This innovative approach in the food and beverage industry of the city has not taken place in the last couple of years. The uniqueness of the services and the overall positive experience that the customers would enjoy is a sure way of moving forward. Despite all the thorough arrangements, a dismantling of the socio-economic conditions can lead the company to economic failure, but the chances are very low. There are multiple backup plans at hand to counter challenging situations, which would help sustain the business, maybe at a lower scale, even if the economic structure collapses due to some major disruption. If things go well, Aesthetic Café and Restaurant can take the leading stance in the market if the city, and also expand itself to build a larger network across the country.