business development plan assignment : Yummy Tummy
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Added on 2021-04-21
business development plan assignment : Yummy Tummy
Added on 2021-04-21
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Running head:BUSINESS DEVELOPMENT PROJECT BRIEF MBA Business Development Project Brief Student’s name: Name of the university: Author’s note:
1BUSINESS DEVELOPMENT PROJECT BRIEF Executive Summary This new business concept is targeting to provide ‘lunch box' service to the people in a daily basis. This business concept is lunch box delivery and return system which delivers delicious and hot lunch from our own canteen to people at offices and students in school, colleges and universities in Maldives. This business is going to invest 2 million dollar in order to start the business. The name of the business will be The Yummy Tummy and it will start as partnership basis. The Yummy Tummy will have a website and it will have a mobile app from where the customers can give order. The customers can make payment through the app or they can avail cash on delivery option. In the initial stage, in order to run the business, loan will be taken from the bank. In order to operate the business, the delivery persons will be recruited and they will deliver the customised modern disposable lunch box with logo of Yummy Tummy on it. The customers will have lunch box at their hands within 30 minutes with delicious and nutrients food. The market is attractive in the Maldives as the food industry provides almost 4% of the GDP and the customers have disposable income in their hands. In the Maldives, the food industry has been flourishing and people want to take food from outside. The economy of Maldives has been expanded to 7.5% in last 3 years. The Yummy Tummy will take the social media promotional strategies and it will also take the strategy of the discount pricing in order increase the customer loyalty. The target customers are mainly office goers and the students in Maldives and they fetch for nutritional food. This business plan has mainly four sections where, conception, market, industry attractiveness, business models and financial analysis of the business are given. In addition, the financial projection has been set for first three years of the business and the organisation will use rewards
2BUSINESS DEVELOPMENT PROJECT BRIEF strategy to encourage the delivery persons. The organogram has also been given in the business plan.
3BUSINESS DEVELOPMENT PROJECT BRIEF Table of Contents 1. Introduction..................................................................................................................................4 1.1 Rationale to the selection of this business opportunity.........................................................4 1.2 Terms of references...............................................................................................................4 1.3 The approach is taken to design and structure of the report..................................................6 1.4 Relevant Models and evidence sources used.........................................................................7 1.5 Actionable assumptions.........................................................................................................7 1.6 Timescale for achievements..................................................................................................7 2.0 Description of the business concept..........................................................................................9 2.1 The conceptstatement...........................................................................................................9 2.2. The windows of opportunity...............................................................................................12 3. Feasibility Research...................................................................................................................13 3.1 The feasibility research plan................................................................................................13 3.2 The main research will be secondary research....................................................................14 3.3 Research methodology.........................................................................................................14 3.4 5 Key areas of feasibility research.......................................................................................14 3.4.5.1 Product/service..........................................................................................................14 3.4.2 Industry attractiveness..................................................................................................18 3.4.3 Market Attractiveness...................................................................................................23
4BUSINESS DEVELOPMENT PROJECT BRIEF 3.4.4 Organisational feasibility..............................................................................................26 3.4.5 Financial feasibility......................................................................................................29 4. The Business Model..................................................................................................................35 4.1 Business model....................................................................................................................35 4.2 The core strategy..................................................................................................................38 4.2.1 The mission to be accomplished...................................................................................38 4.2.2 The product/market scope which connects the new venture to a viable market...........38 4.2.3 The basis for differentiation..........................................................................................38 4.2.4 Competitive positioning................................................................................................39 4.2.5 Relevant superior value propositions for core customer groups..................................39 4.2.6 Scale of the venture......................................................................................................39 4.3 The Resource Needs............................................................................................................40 4.4 Use a porter’s value chain....................................................................................................41 4.5 The partnership Networks....................................................................................................43 4.7 The value deliverables for the customer..............................................................................45 4.8 How value is added..............................................................................................................47 5. Business Plan.............................................................................................................................49 5.1 The industry, Company & Products....................................................................................51 5.2 Market, market analysis, market research...........................................................................52 5.3 Cost/volume/profit analysis.................................................................................................54
5BUSINESS DEVELOPMENT PROJECT BRIEF 5.4. The marketing plan.............................................................................................................60 5.5 Design and development plan..............................................................................................64 5.6 The management team.........................................................................................................66 5.7 Operations plan....................................................................................................................68 5.10 Business Controls..............................................................................................................74 5.11 Financial projections..........................................................................................................75 Reference List..................................................................................................................................0
6BUSINESS DEVELOPMENT PROJECT BRIEF 1. Introduction This business plan is based on lunch box servicing to the office goers and school as well as college students in Maldives. In Maldives,people order food from a nearby restaurant or from online food delivery app. This new business concept is targeting to provide ‘lunch box' service to the people in a daily basis. 1.1 Rationale to the selection of this business opportunity In the Maldives, food delivery is not a new concept and food industry has been kicking off with the participation of big names in the industry. In the Maldives, the food industry has been flourishing and people want to take food from outside. The economy of Maldives has been expanded to 7.5% in last 3 years (Caguaet al.2014). A busy schedule of the people, taste and preferences of food, rising of working couple and rapid growth of the food and beverage industry has prompted me to come up with the idea of delivering lunch box.This business opportunity was selected due to many frustrations of no time to prepare lunch for the kids to take school, too expensive lunch options nearby offices, oily and greasy fast foods and if lunch is taken at a restaurant it takes more than 1 hour to serve the food while little time to enjoy the meal. The basis of the selection was based on what we mostly talk about during our lunch breaks of having a customized, easily accessible, healthy and nutritious food which could replace the everyday same boring snacks at staff lounge and to give a relief to all the working mothers who struggle to prepare lunch to take for school. Since having an affordable and easily accessible lunch is a need for every working individual and for the schools we found that this business idea can be made a realistic one with the passion we have for foods.
7BUSINESS DEVELOPMENT PROJECT BRIEF 1.2 Terms of references Outline the new business concept This business concept is lunch box delivery and return system which delivers delicious and hot lunch from our own canteen to people at offices and students in school, colleges and universities in Maldives. The business concept is lunch box for schools, offices colleges and universities in Maldives. The lunch will be prepared by a skilled chef in a homely environment. The lunch box is a special customised disposable box for the delivery of the food with the business name on it “The Yummy Tummy”. Assessing the existing position and readiness for the new business venture I am thinking about to recruit the staffs that are not that literate and looking for a job. The new business venture needs great coordination and symmetric communication among the all the teams and staffs. Delivery person can be hired as there are many Bangladeshi or Indians working in Maldives and they can be recruited easily. States as appropriate, assumptions upon which the new business development proposal and financial projections are based I am going to invest 2 million dollar in order to start the business. In the initial stage, I am thinking about to take a loan from the bank to start the business. The shared assumption of the business organisation will be beliefs, values and artefacts and the owners will try to motivate the team members to do their best. Bank of Maldives offer loans for small and medium size businesses. Therefore, initial plan is to take a loan from Bank of Maldives. Produce adequate research to assess the feasibility of the new business concept
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