Business Plan for 7 Spices Vegan Restaurant

This business plan discusses the launch of 7 Spices, a vegan restaurant in London, including an evaluation of the external environment, competition analysis, and suggestions for the target market.

Business plan

Table of Contents
Introduction...........................................................................................................................................3
An overview of your proposed business idea....................................................................................3
An evaluation of the external environment (PEST)............................................................................4
A discussion on competition and overview of competitive advantage..................................................6
A suggestion for the proposed target market....................................................................................7
CONCLUSION.........................................................................................................................................8
References.............................................................................................................................................9

Introduction
Starting a business requires entrepreneurs to take into account certain fundamentals
of marketing so that there will be a functional applicability in understanding the rapid
course of the time. It can be said that ascertaining viability propose the business idea and it
is quiet important for all the entrepreneurs to have effectiveness in a rapid course of time.
In relation with the business idea is quiet important for all the entrepreneurs (Charter,
2017). The present project is based upon 7 Spices which is an entrepreneurial venture that
is being launched with the concept of vegan dishes. The new venture is quiet effective
launched within the confines of Mayfair area of London. The major objective helps in
gaining the knowledge and influences the business venture. Further, it consists of
competitive analysis and recommendations for target market.
Marketing plan
It is a part of the overall businesses. The marketing strategy which has been quiet solid
is a core foundation of a well-written and well established marketing plan so that the goals
can be possibly achieved. A systematic marketing plan contains a specific list of actions,
strategic foundations and a use of business. A marketing plan is reflected out to be the
comprehension document which can easily outlines the marketing as well as advertising
efforts for the coming year. It describes a suitability of the marketing objectives within a set
of time frame. A marketing plan is one of the descriptions of the current marketing position
in which there is a description of target market and the marketing mix which simply useful
in achieving the marketing goals (Chibili, 2019). The marketing plan gives and reflective and
an effective idea on the basis of framing of the work structure and effective incarnation.
Also, it can be suggested that the process including in the marketing plan seems out to be
reflective and an effective prostitutical situations.
An overview of your proposed business idea
The new job launched in the United Kingdom is a vegan restaurant. It refers to the
restaurant which has the most useful and prosperous need for the people in London on the
basis of reflecting the healthy and prosperous lifestyle. One of the case study based on
London showcases the larger portion of the audience which have been greatly affected by
the obesity and diabetes. Hence, the market gap is systematically reflected the healthy

restaurant in which there is no significant negative impact on the healthy lifestyle of the
people. So, here, this is an idea of creating a new venture with some effective vegan dishes
under the name of “7 Spices.” It is a venture which has been launched for the period of 6
months and within the beverages and the food sector. The major speciality of this venture is
Zucchini Noodles with Cashew Ricotta and Pear Cinnamon Scones with Sour Berry Jam.
An evaluation of the external environment (PEST)
For an entrepreneur, it is quite effective to suggest the confines of which venture
would be opened. It is very important to understand that there is a need to help the
businesses in identifying the opportunities as well as threats which have been encountered
and operated. In context to 7 Spices, a vegan restaurant would be prominently uses the
western style starters, main course and the desserts. All the fresh items must have some
fresh fruits, vegetables and other necessary ingredients. There is a need to ensure that a
good and prosperous healthy lifestyle must have needs and demands for the belonging of
the people in London, United Kingdom. Therefore, it is very important for the entrepreneur
that some macro environmental factors must be taken into the consideration on which the
venture would be effectively carrying the operations. One of the most effective purpose is
the PEST analysis which is quiet useful in the understanding of the positive as well as
negative linked to the external factors of the business and environment. The PEST analysis
for 7 Spices is presented as underneath:-
Political Factors: The macro environment factors which reflects the stability of the
government, regulations, corruption level, policies of taxation and many others. It is quiet
important that some of the political factors including the government interventions have
been taken place in order to devise strategies which are aligned to it.
● Positive: The political scenario of the United Kingdom includes stable and consistent
workforce in prevalence of the stable and thee consistent system since 1942. 7
Spices have a huge and a positive energy in capitalising the policies and the political
regulations on the basis of ensuring long term sustainability.
● Negative: one of the negative factor of the government in United Kingdom which
have a genuine impact towards the political stability is BREXIT that have been cause

a state of unrest that have been confines the whole nation. This phenomena have
been affected the industries. The negative impact of 7 Spices in the future course
decline the major sales and profits.
Economic Factors: It consists of the economic development, the rate of inflation, the
exchange rate, currency modification and many others. The entrepreneurial venture must
have a consideration of economy by setting operations in relation with the territorial
boundaries.
● Positive: It can be simply suggest that, on a natural basis, the United Kingdom
creates some effective and sorted job opportunities for the 7 Spices on the basis of
reflective and fundamental infrastructural facility. With this, the organisation would
be able to have a disruptive food product in terms of healthy lifestyle.
● Negative: BREXIT has resulted into economic downturn within the confines of UK.
This would place a direct impact over the sales and profit patterns of 7 Spices,
thereby resulting in decline of its customer base.
Social Factors: It contributes towards the cultural beliefs of a lifestyle, likelihood and
many others.
● Positive: The consumer’s preferences from junk food and the unhealthy eating habits
of London people is a big advantage (Manning, 2018). 7 Spices would provide vegan
offerings to customers in this regard to cater to the needs and demands of
customers.
● Negative: as the shift from non-healthy to healthy lifestyle is a likelihood pattern in
the future course times. In an instance whereby such shift takes place, it would imply
negative outcomes for 7 Spices in terms of decline in its revenues and profits.
Technological Factors: This macro environmental factor encompasses the
technologies as well as advancements that take place within a nation (Brown, 2018). The
extent of development of technological infrastructure within a country places direct
influence over the operations of an enterprise.

● Positive: The United Kingdom have been genuine and the most sorted technological
infrastructure which is developed on the basis of support towards the United
Kingdom is a nation whereby the technological infrastructure is well developed to
support the growth of operations of companies functioning within its territory. The 7
Spices have technological advancements to meet the needs of the consumers. It can
come up with food production or food preparation technologies.
● Negative: The latest technologies and the adoption of the infrastructure facilities
inflate the overall cost and operations for the 7 Spices. Also, there is an effective risk
and rivalry on the usage of the technologies with the consumer care of 7 Spices.
SWOT ANALYSIS
Strengths
 Healthy lifestyle of the people reflects ability to achieve profit
 Multiple cuisines availability
 Work environment is quirt effective for the employees
 No time consuming efforts to be made by the employees
Weaknesses
 Difficulties in performances
 Difficulties in technological building ness
 Rural areas cannot be equally participated
Opportunities
 They must have women employees more than men or equally to mens
 Workload reduction
 Time saving and problematic errors
Threats
 Competition rivalry
 New beginning of the venture
A discussion on competition and overview of competitive advantage
At the current stage, there is free competition and no presence of the corporate
sector. At present, it can be said that food and the beverages are the most confine sector of
London because it includes the reflection of the several technologies as well. The vegan

restaurants must have top notch companies, which provide some top sector and services.
With reference to vegan restaurants, it can be determined that there are several top notch
companies which are providing products and services in this (Van, 2020) 7 Spices is an
upcoming venture which would be functioning within London amidst the highly competitive
market. The entrepreneur recognises the importance of gaining knowledge of its rivals in
order to come up with offerings which can provide a strategic edge to it. Thus, the
competitive analysis for 7 Spices is presented as follows:-
The competitive advantage of the 7 spices would offer vegan products at the low prices
which can be easily afforded by students, families etc. Further, another edge of 7 Spices is
that it would have a bar section separately for those individuals who prefer alcoholic
beverages (Kim and et. al., 2018).
A suggestion for the proposed target market
One of the reflective and emerging venture of an organisation is the 7 Spices and it is
quiet important for the entrepreneur to select a most effective and replicable target
marketplace and the strategies in which individuals pertaining that a marketplace must have
attraction towards the offerings (Esparza-Aguilar and et. al., 2016).
STP: It is one of the effective model in which there is an appropriate target market
and an upcoming vegan restaurant. It is an automated way of moving (transferring) money
from one mutual fund to another. This plan is chosen when one wants to invest a lump sum
amount but wants to avoid the marketing-timing risk. The most common and sensical way
of doing STP is to transfer money from a debt fund to an equity fund.
Debt funds, also considered safe mutual funds are mutual funds in which the returns are
quite predictable. Equity funds (growth funds) are stock market linked and therefore the
returns are unpredictable in the short-term but have been high when invested for the long-
term. Read more about different types of funds. The mutual funds he application of this
model in context of 7 Spices is presented as follows:-
Segmentatio
n
It has been suggested that the market will be efficiently segmented on the
basis of effective and structural segmentation. The aspect of behavioural
stated that segmentation must be effectively carried out on the basis of

likelihood.
Targeting The effective individuals who have been vegan items must be targeted by the
venture.
Positioning The food and the beverages positioning offer a venture and it would be
appropriately done on the basis of social media, marketing, promotions in
television and many others. The firm or an organisation must be efficiently
able to the firm would be able to increase large number of persons and satisfy
them on the basis of different offerings.
The above STP process suggest that if reflected out to be the broad statement which
can simply summarizes and simplifies the process of the market segmentation. Targeting is
one of the processes of identifying the most attractive segments from the stage of
segmentation, including the ones which is quiet profitable and acceptable.
CONCLUSION
The above discussion concludes that, the viability of the proposed business reflects
an idea of checking before the entrepreneurial venture. Further, it can be simply analysed
the fact that business environment within an entity or an organisation take measures in
dealing with the negatives in the effective course of time. In addition to this, it can be simply
recognized that the principles of the marketing must be borne by the entrepreneur and gain
the attention of large number of buyers in building up the strong base of the consumers.

References
Dhaliwal, R.S. and Misra, P., 2020. Employability Skills Needed in Hospitality Industry: A
Scopious Review. Asian Journal of Education and Social Studies, pp.18-34.
Van, D., 2020. Turnover Rate in the Hospitality Industry–Millennials.
Ayvazyan, N.B., Parfenova, M.V. and Sayenko, I.I., 2018. TQM System as a Factor of Service
Quality Growth in the Hospitality Industry. Эпомен, (18), pp.122-127.
Chibili, M.N., 2019. Managing Quality in the Hospitality Industry. In Modern Hotel Operations
Management (pp. 566-617). Routledge.
Rudd, D. and Flanegin, F., 2019. COMMUNICATION AND CLIMATE APPLICATIONS IN
THE HOSPITALITY INDUSTRY. ASBBS Proceedings, 26, pp.463-474.
Balanon and et. al., 2017. Feedback on Student Outcomes Among College Students of
International Hospitality Management. Undergraduate Thesis. Lyceum of the Philippines University.
Manning, L., 2018. The value of food safety culture to the hospitality industry. Worldwide
Hospitality and Tourism Themes.
Esparza-Aguilar and et. al., 2016. The effect of accounting information systems on the
performance of Mexican micro, small and medium-sized family firms: An exploratory study for the
hospitality sector. Tourism Economics, 22(5), pp.1104-1120.
Kim and et. al., 2018. The effects of corporate social responsibility (CSR) on employee well-
being in the hospitality industry. International Journal of Contemporary Hospitality Management.