Business Plan for Bites Healthy Foods Restaurant

BUSINESS PLAN TEMPLATE: THIS TEMPLATE MUST BE USED FOR THE ASSESSMENT. YOU MAY INCLUDE PICTURES TO
IMPROVE THE PROFESSIONALISM OF YOUR WORK
BUSINESS DESCRIPTION / MARKET OPPORTUNITY
Business may be defined as the enterprise unit that an entrepreneur setup in order to earn profit. It engages in various type
of activities such as such as commercial, industrial and professional. Every business wants to expand its business operations and for that
it requires resources for the smoothly functioning such as finance required, workforce and assets. It is very important for the business
owner to have sufficient liquidity of funds so that it can carry out its functions in a better way. This project report is based on “Bites
Healthy foods”, a restaurant in London Streets that provide healthy food to its customers. Due to pandemic the supply chain of food is
hugely disturbed and it becomes challenging for the restaurant to cope up with this issue. The products that restaurant is serving is full of
nutrition such as Protein salad bowl for fitness freaks and low carb meal combo for weight loss and other healthy food option that are
rich in nutrition. The mission of the company is to make everyone fit and healthy and to develop a healthy lifestyle. Along with profit
making, the aim is to keep the people of UK fit so that can live disease free life. This project report will cover the industry analysis that
will include the competitors and power of suppliers and buyers and how they can affect the business operation. In addition to that, it will
cover the name of its competitors and how they can influence the operations of Bites Healthy Foods. Finally, it will include the source of
finance and opting the best alterative in order to make the business more profitable. The company have the advantage of this industry as
it is increasing rapidly and there are few competitors that may not much affect. It is having the great opportunity that it can seek and
grab so that it can generate higher revenue.

INDUSTRY ANALYSIS
The food industry is one of the largest industries having the 5th rank in terms of production and export. It is the industry in
which companies transforms the raw material in order to convert it into edible items. Companies take the raw material from the farmers
at a cheaper rate and then converts it into consumable products. The supply chain of this industry includes the processing of food,
packaging and distribution. It is very important to ensure the safety and quality of food.
Threat of new entry
The company is having the threat of new restaurants that will provide the same healthy food to its customers. It takes
low amount to be invested to commence the business of this industry. So it is important to produced their items that are
unique in taste along with setting up of effective pricing strategy to face such cut throat competition. The new entrants can provide the
same quality of food that will grab the customers of Bites Healthy Food. It becomes easier for the new companies to emerge in this
industry s there are few barriers. It becomes easy for the firms that they can commence their business by their funds. So it is important to
study this entry as it becomes a threat for the company like Bites healthy foods.
Threat of substitutes
There are various substitutes available in the market in this industry as customer cam switch their buyer to another who
is providing the same quality of food but in a cheaper price. But in case of healthy food there are very few restaurants
that provide the same food but they are also engaging in providing fast food. They are not completely providing healthy

food but there are some items that can be considered. There is not much substitute available of this restaurant as it completely
provides healthy food to its customers. In case of fast food items, there are n number of restaurants and have a cut throat competition
that tries to defeat their competitors. They somehow want to grab the other restaurant customers either by any promotional offer or
providing free dishes on ordering particular item. In ths9i food industry, every restaurant wants to provide better quality of food along
with better customer experience so that they can increase the repeated customer rate. It becomes an advantage for the restaurant as
after the pandemic, people are more conscious about their health and wellness and in order to fulfil their need, this restaurant can
provide with the same food items that can meet the customer needs and want long with better and unique taste.
Bargaining power of customers
Price is the main element that defines the success criteria. So it is very important for the restaurants and hotels to set
an effective price for their food items so that they can attract a large number of customers. The customers are having
the tendency to bargain whenever they are availing any product or service. There are very customers who are price
sensitive so it becomes a challenge for the restaurants to reduce their prices. This may result in lowering their profitability as
they have to decrease their prices especially when the number of customers are in large quantity. In this industry, the bargaining power
of customers is very strong. It is human tendency of the customers that they want the better quality of products, a great experience but
by paying the lowest price. So it is important for the restaurants to set lower prices as compare to its competitors.
Bargaining power of suppliers
It is just opposite of bargaining power of buyers. The restaurants want to buy the raw material from that supplier who is providing
at a cheaper price. It may change its supplier if another supplier is giving the exact material at cheaper price. Companies and restaurants
do not produce their raw material and get food from the external sources such as meat products from butchers and fruits and vegetables
direct from the farmer. Getting the food direct from the farmer, enables the companies to get in a lower price. The manage effectively
analyse the quotation of all the suppliers and opt the best in order to get the quality product but at a lower rate.