Hospitality Business Enterprise Assignment Help

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Qualification - BTEC Level 3 National Diploma in Hospitality

Unit Name - Hospitality Business Enterprise

Unit Number - Unit 16

Level - Level 3

Assignment Title - Planning and Setting up a Hospitality Business

Learning Outcome 1: Know the legal and financial considerations that affect the start-up of small hospitality businesses

Answer: For starting a small hospitality business in the UK, several legal and financial aspects need careful consideration.

Legal Considerations:

Business Structure: You'll need to decide on your business structure (sole trader, partnership, limited company), each having different legal and tax implications. Registering with Companies House is usually required for limited companies.
Licensing: Depending on your specific hospitality offering, you'll likely need various licenses. This could include a premises license to sell alcohol and provide entertainment, a food business registration if you're serving food, and potentially other specific licenses based on your activities (e.g., for outdoor seating). You might also need to consider planning permission if you're changing the use of a building.

Health and Safety: Compliance with health and safety regulations is crucial to ensure the safety of both staff and customers. This includes risk assessments, fire safety measures, and food hygiene standards.
Employment Law: If you hire staff, you'll need to comply with employment laws regarding working hours, minimum wage, and holiday entitlements. The Worker Protection Act 2023 also places a duty on employers to take reasonable steps to prevent sexual harassment.

Data Protection (GDPR): If you're handling customer data (e.g., for bookings), you need to comply with GDPR regulations.

Financial Considerations:

Start-up Costs: These can vary significantly based on the type and scale of your business. Costs include premises (rent or purchase), renovations, equipment, initial stock, marketing, and legal/licensing fees. Estimates for opening a cafe, for example, can range from £20,000 to £100,000.

Operating Costs: Ongoing expenses will include rent, utilities, salaries, supplier costs, marketing, and insurance.
Funding: You'll need to determine your funding sources, which could include personal savings, loans, or investors.
Taxation: You'll need to register with HMRC to pay income tax and National Insurance. Hospitality businesses also need to understand Value Added Tax (VAT) rules, which can vary depending on the goods and services offered (standard rate is currently 20%, although there have been temporary reduced rates in the past). You might also be eligible for certain tax reliefs.
Business Rates: These are a tax on non-domestic properties. Small businesses may be eligible for Small Business Rates Relief.

Keeping abreast of changes in legislation and understanding the financial implications is vital for the successful launch and operation of a small hospitality business in the UK. Resources like UK Hospitality can offer guidance and support.

Learning Outcome 2: Be able to produce an outline hospitality business enterprise proposal

Answer: To produce an outline hospitality business enterprise proposal for Jaipur, one must include key sections such as an executive summary highlighting the business concept and its potential in the local market, a detailed description of the venture (e.g., type of accommodation, restaurant, or experience), a market analysis focusing on Jaipur's tourism landscape and target audience, an operational plan outlining logistics and management, a marketing and sales strategy tailored to attract visitors and locals, and a financial projection demonstrating the viability and profitability of the enterprise within the London context, ultimately providing a clear roadmap for the proposed hospitality business.

Learning Outcome 3: Be able to plan and set up a hospitality business

Answer: To plan and set up a hospitality business in the UK, one must begin with thorough market research to identify opportunities and understand the competitive landscape. This is followed by developing a comprehensive business plan that outlines the concept, target market, operational strategies, and financial projections. Securing the necessary premises and licenses (such as a premises license for alcohol or food business registration) is crucial, along with sourcing equipment and recruiting staff while adhering to UK employment laws. Finally, establishing marketing strategies to attract customers and ensuring compliance with health and safety regulations are essential steps in successfully setting up a hospitality business in the UK.

Learning Outcome 4: Be able to evaluate a hospitality business enterprise

Answer: To evaluate a hospitality business enterprise in Jaipur, one must assess its performance across several key areas relevant to the local context. This includes analyzing financial metrics like occupancy rates, revenue per available room (RevPAR), and profitability, while also considering customer feedback specific to the Jaipur experience, the effectiveness of its marketing in attracting both tourists and locals, the efficiency of its operations, and its adherence to local regulations and cultural sensitivities. Furthermore, evaluating its competitive positioning within London's unique hospitality market and its potential for sustainable growth are crucial aspects of a comprehensive assessment.

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Purpose : This assignment will help learners to gain knowledge of legal and financial considerations affecting hospitality businesses start-up and gain skills to produce a proposal, plan, set up and evaluate a hospitality business

Scenario

You are a young entrepreneur, who would like to start a new business. You are investigating different ideas and current trends, thinking about creativity and innovation - what might work as an idea for the current market. But fist you need to get ready to start your business and make a research about the legal and financial considerations that affect the start-up of small hospitality businesses; produce an outline hospitality business enterprise proposal and decide on funding, as well as evaluate your new hospitality business
enterprise.

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Assessment Task 1 - Legal and Financial Considerations that Affect the Start-up of Small Hospitality Businesses and a Hospitality Business Enterprise Proposal.

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You have to produce a report on your new Hospitality Business Enterprise.

Your report should include:

P1 - legal and financial aspects that will affect the start-up of a business enterprise.

Legal considerations: legal status - sole trader, partnership, limited company, franchise, cooperative; legal liabilities; national/ local laws; regulations; health and safety; fire regulations; licensing.

Financial considerations: start-up costs - cost of premises, market research, equipment, fixtures; running costs - rent, bills, salaries, materials and supplies, maintenance; assets and liabilities; personal survival budget; pricing policy.

For M1, learners also need to assess the impact of the different legal and financial considerations.

After that you need to provide an outline business enterprise proposal (P2) - the type of business, its unique selling points, any external influences (eg location) and so on. You should discuss the development of the ideas, consider legal and financial aspects that are relevant to the proposal.

The evidence for M2 must show that you are capable of using a degree of initiative and demonstrate unaided competence in the formulation of sound business ideas and how they relate to the target market.

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Assessment Task 2 - Evaluation of a hospitality business enterprise

You carry on in your role as new entrepreneurs and evaluate the hospitality business enterprise.

Now you should assess the planning and operation of the business (P4) that you have planned, in order to measure success against the evaluation criteria.

How you can measure the performance of your business? Review the evaluation and feedback types.

Feedback types - event statistics, financial data, oral, written, formal, informal; customers, guests, delegates, colleagues, line manager, supervisor.

Evaluation - achieving objectives of the plan; use of working procedures; use of resources; meeting financial targets; customer satisfaction; quality of service and products.

To meet the M3 criterion, learners must demonstrate an understanding of why particular financial, legal and other aspects needed to be considered in order to operate the enterprise.

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