Innovation and Entrepreneurship: Developing a Strategic Business Plan for Bevvy Desire in the London Food Industry

Innovation and
entrepreneurship

Executive Summary
Innovation and entrepreneurship is the key factor or elements of developing the successful
commercial venture. As the innovation play important role in the entrepreneurship by enhancing
the creative and analytical thinking of the individual. Entrepreneurship is the process of creating
new brand with innovation and value, by taking the financial risk. This is the key contributor of
growth in the UK. In this report a new business idea within the London, along with the strategic
business plan is developed, related to the food industry and it is named as Bevvy desire . Within
this report overall the Analysis of the industry profile, challenges, prospective customers, source
of funding,competitor is done, along with the development of business model and marketing
plan.

Table of Contents
INTRODUCTION ..........................................................................................................................1
Start-Up Business Idea...........................................................................................................1
Industry Profile.......................................................................................................................2
The Business Model...............................................................................................................2
Point of differentiation...........................................................................................................4
Challenges to the Business Idea:............................................................................................5
Prospective Customers...........................................................................................................5
Brief Marketing Plan..............................................................................................................6
Competitor Analysis...............................................................................................................7
Sources of Funding.................................................................................................................8
Intellectual Property...............................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES ............................................................................................................................10

INTRODUCTION
Innovation and entrepreneurship is the key factor or elements of developing the
successful commercial venture. As the innovation play important role in the entrepreneurship by
enhancing the creative and out of box thinking of the individual. Entrepreneurship is the process
of creating new brand with value, by taking the financial risk. This is the key contributor of
growth in the UK (Cunningham, and et. al., 2019). In this report a new business idea within the
London, along with the strategic business plan is developed. Analysis of the industry profile,
challenges, prospective customers, source of funding,competitor is done, along with the
development of business model and marketing plan.
Start-Up Business Idea
Business idea should be develop in context to the current needs and interest of the
customers of the target market, because this can help in the attraction of higher customer and
higher sale. Food is one of the most common need of the peoples in every place and customers
are always being very exited for the new offers and new way of the food services. The new
business idea for the SME is innovative online and offline customised food services business.
Which will provide the different cultural food items, such as British, India and Italian, according
to the personal needs of the customers. Organization service place for the offline services will be
design with the peaceful interior design related to the selected culture. Which can be booked by
the customers for small events like birthday celebration and all. Customers can make the pre
informed order here with their customization needs (Huang, and et. al., 2019).
Organization selected name is Bevvy desire below is the illustration of products and
services. The current trend in food sector is vegan so the total food product will be veg product.
Products and services
 Customer services like guest and this will be in the from of bed and breakfast.
 Birthday and other occasional booking services with customised food.
 British food will be in the menu, Punchnep, Rumbledethumps, Glamorgan Sausages,
Clapshot, Fried Cabbage.
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