Entrepreneurship and Future Business of Burger Spice

This article discusses the proposed future business of Burger Spice, including launching new products, targeting young generations and children, and using skilled employees. It also covers identifying target consumers, evaluating competitors, and selecting suitable sources of funding. Additionally, it talks about different types of organization and management information systems required to control the business effectively.

Entrepreneur and
Entrepreneurship

INTRDUCTION
Enterprise is refer to the whole functions of small business or the company which is
carried by lower level employees and various department within company. Regarding small
business different types of legal barriers are there which leads to decrease their productivity at
higher rate. Those legal barriers are competitors, financial loss, legal complications and others.
Here the chosen company is Burger spice and the headquarter of this organization is situated in
London, UK (Brentnall, Rodríguez and Culkin, 2018). This organization is mainly famous for
their Burger Spice and other fast food products. Entrepreneur is also refer to the sources of
different types of ideas and innovations which assist the company for enhancing their goodwill
and profit at higher rate. The report will cover the proposed future business, skill analysis,
competitors, identifying your target consumers on B2C and evaluating and selecting suitable
sources of funding to grow the business opportunity.
TASK
Your proposed future business
For enhancing the functions of business in future concept it is important for authority that must
use various ideas -
Firstly, management must diversify their goods at large scale with help of launching new
type of flavourful beverages, burgers and other fast food. Due to launching this type of products
in UK according to current trend and culture profit margin of this organization is highly
increased within low time. From the above analysis of different types of information from
various sources company found the important point. The point is that in the finalized location
London, young generations and children's are easily attracted in large number for consuming this
type of food products.
Secondly, due to launching new type of tasty burgers and flavoured soft drinks, the
productivity and goodwill of Burger spice is easily increased at maximum level. Products
includes cheese burgers, grilled veg burgers, hot chicken burgers etc. With help of facilitating
quality service and food products to users the goodwill of firm is effectively sustained for long
duration.
Thirdly, it is also important that they only use the skilled and talented employees for
carrying their all activities smoothly at the time of service. Due to using high talented workforce

within firm management easily identify the desires and needs of customers within less time in
their goods. Talented workforce also assist the organization for run their services quickly.
Fourthly, for increasing the awareness of their products and services management must
utilize various types of advertising methods. Those methods are advertising, use of social media,
publishing in newspaper and others. Due to the use of these elements their services and goods are
easily enhanced widely.
Identifying your target consumer on B2C
In aspect of targeting customers in effective way management applied STP analysis which is
described below -
 Segmentation – It is defined as segment the customers into different categories by using
particular criteria. Segmentation includes, geographic, psycho graphic, behavioural and
demographic. In context to burger spice demographic is a suitable criteria for delivering
their services and products to consumers (Hlady‐Rispal and Servantie, 2018). Because in
UK all customers belongings from different educational and income level which is
essential for increasing the sale of their existing and new goods effectively.
 Targeting – It is defined as target those type of users who is highly important for the
growth of company. The customers who comes under this category are children's and
young generations. Because these are the only consumers who are beneficial in the aspect
of consuming their goods and services at higher rate. In context to Burger Spice
management must focus on these type of customers for enhancing their profit margin and
market share at maximum level within short duration.
 Positioning – It is defined as in which manner organization build their goodwill in the
customer mind for long time regarding their goods and services. In context to burger
spice they position their brand image with help of facilitating quality and flavourful
product to the new and existing clients. But it is also important that they must use
advertising and digital platforms for popularising their goods within low time.
Competitors
 KFC – It is a international B2C company regarding fast food products and soft drinks
Due to having global presence of this organization their revenue are easily enhanced at
high rate which leads top create threat for new and small enterprise. The reason for

enhancing threat is that this brand also facilitating best quality food products to customers
in time.
 MacDonald – It is also the another type of fast food and B2C international organization.
Due to having their world wide presence, their products are easily sell in high quantity in
different areas. In this way also threat is highly increased for small enterprise at higher
rate in aspect of their reputation or goodwill.
Skill analysis
From the analysis of above data for increasing rate of this organization it is necessary for
management that they mainly focus on three important skills
 Risk taking – Due to the proper utilization of this skill company is able to sustain their
positive relations with their workers effectively (Morris, Santos and Kuratko, 2021). Due
to sustaining positive relations between top and lower level employees management are
able to facilitate high quality service and product to consumers in time.
 Innovative skills – With help of this skill authority of burger spice is able to focusing on
various types innovation in their food products according to the needs and wants of
customers. For enhancing innovation in their goods it is highly important for firm that
they take suggestions, opinions and ideas of their employees. In this way product is easily
developed in unique way which highly liked by users
 Creativity skills – It is also a one type of skills which is used by organization for
increasing the sale of their product. Due to the effective use of this talent burger spice is
able to made changes in their goods in aspect taste and flavours. The main aim for using
this skill by company is to expanding their whole services and functions globally.
Profit and loss accounts and proposed two years cash flow forecasts including break even
Variable cost per unit = Total variable cost / Number of units
Year 1
= 500000 + 600000 = 1100000
1100000 / 50000 = 22
Year 2
= 550000 + 600000 = 1150000

1150000 / 70000 = 16.42
Break Even point = Fixed Expenses / Sales - Variable cost
Year 1
= 750000 / 50 – 22 = 750000 / 28 = $ 26785
Year 2
= 750000 / 50 – 16.42 = 750000 / 33.58 = $ 22334
It is essential for the organisation to earn $ 26785 in year 1 and $ 22334 in year 2 in
order to covering its expenses.
Evaluating and Selecting suitable sources of funding for growing the business opportunity
Various types of sources of funding -
 Angel investor – In this type of loan single person is facilitating fun to organization in
their own risk. The other aim for taking this type of loan is by company is to increasing
their portfolio at maximum level. But it is mandatory for organization that they must
repay that amount in specific time period.
 Bank loan – In this loan organization directly borrowing the fund from various banks for
running their functions smoothly (Mukesh, Pillai and Mamman, 2020). But during the
time of using this technique, here also company need to repay that amount in given time
period by the bank. If the management did not repay that amount in time then the penalty
is assigned by bank to them in form of cash.
Various types of organization and management information system required to control the
business effectively
Different kinds of organization -
 Sole trader – In this type of structure the activities of whole company are managed by
the individual person. This is a very common organizational structure and in this structure
communication are easily sustained between all categories of employee's. In this stage the
performance of lower level employees are directly monitored by entrepreneur on monthly
or daily basis.
 Partnership – it is also a one type of organizational structure but difference is that this
structure is made in the form of written format. In this structure more than two persons
are involved for run the activities of company smoothly. But the negative point of this

structure is that due to high involvement of intermediary decisions from top level
management are made in very slow manner. It leads to decrease productivity of firm
effectively.
From the above data partnership is suitable to burger spice for run their operational
activities and services effectively (Onuekwusi, Odoemelam and Alocha, 2020). Because in this
structure employees follow the rules and regulations effectively and always facilitates service to
customers in right direction.
Management information system is defined as the study of relationships, people,
technology and organisation. In relation to burger spice, management used this system for
enhancing the productivity of employees in long run.
Vision of your business idea
The ultimate vision of our company is to facilitate quality and healthy food products to
the clients. It means when the business of fast food and beverage products are started by the
entrepreneur then he faced less difficulty and profit are also increased in low time. This company
also has the fantastic future in this product line.

CONCLUSION
After the evaluation of above data, it is concluded that entrepreneur played the major role
in business for managing the whole activities and employees systematically. The main advantage
of entrepreneur for running this type of business is that he need very less financial support for
start a new business. When the business run successfully then the benefit of the entrepreneur are
easily increased. Due to increased profit business are also expanded at large extent in low time.

REFERENCES
Books and Journals
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