Being Vegan: Sustainable Business Plan for a Vegan Restaurant

This report presents a sustainable business plan for Being Vegan, a vegan restaurant that aims to provide organic vegan dishes at affordable prices. The report includes a market analysis, projected profit and loss statement, cash flow forecast, and recommendations for the business. The proposed business aims to provide its customers with vegan dishes that are deliciously made without compromising their taste. Being Vegan will target customers aged 20 to 35 years who are health-conscious and want to adopt a healthy lifestyle. The report also includes a skill analysis, competitor analysis, and sources of funding for the business.

CW1 GROWTH
SUSTAINABLE BUSINESS
PLAN

EXECUTIVE SUMMARY
The present report is based on the business plan of introducing a business based on
providing the customers with vegan dishes within the market. The business aims to provide its
customers with organic vegan dishes at reasonable prices and ensure a healthy diet of the
individuals. Moreover, the business aims to inculcate healthy habits of eating within the
customers.

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
CONCLUSION................................................................................................................................2
REFERENCES................................................................................................................................3
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INTRODUCTION
A business plan is a plan that helps in formulating the objectives associated with the
business of a company. The present report is based on the business plan of Being Vegan. It is a
restaurant that provides its customers with vegan food products and dishes.
MAIN BODY
Proposed Future Business
The proposed future business will be named as Being Vegan and will be restaurant that
serves different types vegan dishes in order to increase the customer engagement and
profitability of the company. The dishes that the Being Vegan will offer to its customers include
vegan mac and cheese, sugar snap pea and carrot soba noodles, kale, black bean and avocado
burrito bowl, creamy butternut squash linguine with fried sage, vegetable paella and many more
of such delicious dishes. The Being Vegan restaurant aims at increasing the use of vegan
products within the customers without having to compromise their taste. This is the main USP of
the proposed business (McKeever, 2018). Moreover, Being Vegan will try to offer these
extremely tasty dishes at affordable prices in order to attract a wide range of customers towards
the brand. Also, Being Vegan will make use of trademark for their company as it will help the
company in differentiating themselves from the other brands within the market.
Customers
Being Vegan will be a customer-oriented brand and will fall under the category of B2C
companies. A B2C brand refers to a company that offers its products specifically to the
customers within the market. Being Vegan will target those customers that falls under the age
group of 20 to 35 years of age and are conscious about heath and the food they take. The
products of the Being Vegan will be priced at affordable rates in order to gain customer
engagement and increase the brand image of the restaurant within the market. The main USP of
the products and dishes of Being Vegan is to provide vegan dishes deliciously made to the
customers without having them to compromise their taste (Li, and et.al 2019). The dishes that
Being Vegan will offer will be made of organic ingredients which will be beneficial for the heath
of the customers. Being Vegan will try to differ the taste of the dishes and try to make their
dishes in a unique way so that the customer can embrace the change do not feel overwhelmed
after consuming it on a regular basis.
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Competitors
It has been identified that the major competitor of Being Vegan in United Kingdom is the
Mildreds Soho. This is vegan and vegetarian restaurant situated in London which is quite famous
for its food and ambience among the customers within the UK. Therefore, it will give tough
competition to the proposed business i.e., Being Vegan. However, it has been determined that
this restaurant is quite expensive. So, the main reasons why a customer would visiting and
having their meals at Being Vegan instead of Mildreds Soho will be that Being Vegan will
provide its customers with dishes that tastes delicious and are made from natural and organic
ingredients that are healthy for one’s health. And, all of this will be provided to the customers at
highly affordable prices and also with different types of taste of a single dish within a week.
These features will add to the strengths of Being Vegan and help the restaurant in improving
their customer engagement and thus, enhancing their profitability.
Skill analysis
It is not at all easy to take a business idea forward. It takes a lot of effort and a number of
skills that can help an individual in taking forward a business idea. However, it have come to an
understanding that I have certain skills within myself that could help me in taking the business
idea forward and make the most of it. The skills required includes effective communication
skills, knowledge of financial statements, selling skills, negotiating skills, analytical skills,
researching skills and lastly, the ability to verify the authenticity, feasibility and validity of the
business idea. As per my personal analysis, I have determined that I have a number of skills
within myself that includes effective communication skills, the ability to understand and interpret
the financial information, negotiate with the suppliers in order to gain the raw material at low
cost and researching skills (Han, and Kang, 2020). But, in order to take this idea forward, it is
essential for me to develop more of such skills including the preparing of a business plan that
could be used to present the idea to the sponsors, recruitment and selection of talented workforce
and determining the qualities of the workforce in order to assign them with their roles. These
skills will help me in taking the idea forward and introducing the business within the market. In
order to fill the skill gap, it is required for me to indulge myself into training and development
programmes that could help me with skill enhancement.
Projected Profit and Loss statement
Particulars 2023 (in pounds) 2024 (in pounds)
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Net revenue sales 1,20,000 4,50,000
COGS (82,500) (1,50,000)
Gross Profit 37,500 3,00,000
Operating expenses
Labour cost (3000) (7000)
Food cost (2500) (5000)
Rent (1500) (5000)
Marketing cost (3000) (9000)
Operating profit 27,500 2,74,000
Interest expense (5000) (10,000)
Net income 22,500 2,64,000
Projected Cash Flow Forecast
Particulars 2023 (in pounds) 2024 (in pounds)
Cash inflow
Cash sales 80,000 3,00,000
Loans taken 1,00,000 2,00,000
Interest on investments 25,000 45,000
Total cash inflow 2,05,000 5,45,000
Cash outflow
Purchase of material 75,000 1,00,000
Interest paid on loans 5000 10,000
Marketing 3000 9000
Rent 1500 5000
Labour 3000 7000
Others 5000 10,000
Total cash outflow 92,500 1,41,000
Net cash flow 1,12,500 4,04,000
Break even revenue = Operating expenses/ Gross margin
For 2023 = 10,000/0.312
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= 32,051
For 2024 = 19000/0.667
= 28,485
Finding, evaluating and selecting sources of funding
In order to introduce the business within the market, there are several sources of finance
which Being Vegan can use in order to raise funds. The most appropriate sources of finance with
respect to the nature of business of Being Vegan are as follows:
Commercial loans
One of the most appropriate, trusted and comparatively easy way to source money is to
take commercial loans from banks and financial institutions. The banks and financial institutions
provide the customers with funds as per their requirements on one condition that the payer will
repay the debt within the stipulated time frame including a decided percent on interest on the
loan (Grit, 2019). The process of taking a bank loan has become quite easy now a days and
therefore, Being Vegan will make use of commercial loans in order to raise funds for the purpose
of initiating the business plan within the market.
Venture capital and return on investments
While raising the funds for the purpose of setting a business, an organization should for
different options available to them then after comparing them together , should determine the
sources which should be used. Similarly, the other sources for raising the funds for starting the
business will be the return received on investment and presenting the business idea to the venture
capitalists in order to receive the required help from them.
Break down of start up cost and obtaining the resources
Particulars Cost ( in Pounds)
Rent 1500
Marketing cost 3000
Recruitment and selection of employees 15000
Raw material and inventory 75000
Bank loan 100000
Cash 50000
Labour cost 3000
Total cost 2,47,500
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Type of organization and management information system
It has been determined that Being Vegan will implement the use of functional
organizational structure within their organization. A functional organizational system refers to a
system in which employees of an organization are grouped into different departments on the
basis of their qualities, skills and specialization. The effective utilization of this system can be
useful for Being Vegan as it will allow the employees specialized into a particular field to make
optimum use of their skills and thus help the company in enhancing its profitability and revenue.
Moreover, Being Vegan will implement the use of different types of management
information systems within the company such as process control, inventory management system,
management reporting system, accounting and finance, decision making support system and
more of such systems in order to enhance the efficiency and effectiveness of each department
within the restaurant.
Vision for Business idea
The major objective of Being Vegan is to provide its customers with tasty and healthy
dishes that made using vegan products which are organic in nature (Alonso-Vazquez, del Pilar
Pastor-Pérez, and Alonso-Castañón, 2018). Being Vegan aims to provide the dishes to its
customers at affordable and reasonable prices and wants to engage the customers with brand and
also, influence them into adopting a healthy lifestyle.
Recommendations
In order to implement the business idea and introduce the plan into the market, it is
essential for Being Vegan to keep a certain point in mind and take actions towards the same:
Being Vegan should try to reduce their initial cost of business as much as possible in order to
enhance the profitability of the business.
Being Vegan should compare and contrast the available sources of raising funds, determine the
one which saves the most cost associated with the company’s operations and then implement its
use within the company. This will help the company in increasing the profits of the business.
CONCLUSION
From the present report, it can be concluded that introducing a business plan within the
market is not an easy task. It takes a lot of market research in order to cater to the needs of the
customers and requires several types of skills in order to reduce the cost and increase the
profitability of business.
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REFERENCES
Books and Journal
Alonso-Vazquez, M., del Pilar Pastor-Pérez, M. and Alonso-Castañón, M.A., 2018. Management
and business plan. In The Emerald Handbook of Entrepreneurship in Tourism, Travel and
Hospitality. Emerald Publishing Limited.
Grit, R., 2019. Making a business plan. Routledge.
Han, S. and Kang, E., 2020. The marketing strategy to stimulate customer's interest in art-gallery
business plan. The Journal of Distribution Science, 18(8), pp.47-54.
Li, R., and et.al 2019. Design Thinking Driven Interdisciplinary Entrepreneurship. A Case Study
of College Students Business Plan Competition. The Design Journal, 22(sup1), pp.99-110.
McKeever, M.P., 2018. How to write a business plan. Nolo.
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