Market Analysis of Opening a Vegan Restaurant in London

Starting a Business
and Fundamentals of
Marketing.
Table of Contents
INTRODUCTION.....................................................................................................................................3
MARKETING PLAN..................................................................................................................................3
Overview of the business plan ........................................................................................................3
Evaluation of External Environment.................................................................................................4

Discussion regarding the competition and factors that helped in gaining the competitive
advantage.........................................................................................................................................5
A suggestion for the proposed target market...................................................................................7
SWOT Analysis..................................................................................................................................8
CONCLUSION.........................................................................................................................................8
REFERENCES..........................................................................................................................................9
INTRODUCTION
Business plan is a framework or layout which is formed by the entrepreneur about the
business idea he has come up with. In that business plan the steps or the activities which
needs to be done by entrepreneur to convert this idea in reality are mentioned. This plan
includes the market analysis, resource analysis, finance analysis, and much more to check the
feasibility of that very idea. This report has evaluated the market analysis about the business
idea of opening up a vegan restaurant in London.

MARKETING PLAN
Overview of the business plan
The business plan is to open up a vegan based restaurant in London. With the increase
in awareness of healthy food products among the customers has given the rise of vegan
concept. Now a day, the consumer prefer to consume the products which are does not have
any kind of adulteration. The meat or any non veg product includes the mixture of chemicals
which affects the physical and mental health of a being. It has been observed that more and
more people are converting or preferring to consume the vegan related products. To grab this
opportunity I have planed to open up a vegan restaurant in which the plan would be to
providing the best quality vegan food to consumers (Anderson, 2017). This concept is very
much new in the market which can offer a huge profit to me if the taste of the food get like by
the consumers. As the concept is very much new, it will continue to grow into the market. It
has been noticed that in the coming time more and more people would be vegans. Therefore,
taking this opportunity will be best for me as this business of mine has the huge scope for
growth.
My business of opening up of a vegan restaurant will be targeting those people who
are very conscious about the kind of food they are taking in, who prefers the vegetarian food
or has convert them from non vegetarian to vegetarian. I also have planed to establish the
same in the main market where the flow of customers or people is high. Main market in any
day of week has the high flow of people, who will see my this new vegan restaurant. At this
time, awareness among the people about my vegan restaurant is what I would be needing and
this could only be provided if I establish the same in main market (Cacafranca, 2020).
This report will discuss about the market plan of opening up a vegan restaurant. For
that a proper marketing analysis has been performed in which the external and internal
environmental factors which can affect my business has been evaluated and examined.
Evaluation of External Environment
External environmental factors are those factors which cannot get into the control of
any business as they run independently. But these factors do impact the working and
operations of any business. The PESTEL analysis is a framework which is used to analyse the
external environment. Businesses form their strategies with accordance to these external
factors. Through this PESTEL analysis the threats and opportunity which my vegan
restaurant may go through is analysed and examined so that it can establish in a smooth and
easy manner (Tipu, 2019).
The PESTEL analysis of my business plan can be as follows:
Political – This factor refers to the degree of impact from the government policies upon the
operations of organisation. Some of the examples may include policies related to taxation,
foreign exchange, level of corruption and etc.
Positive: The government of UK is very stable that the rules and regulations formed
by them does not change that frequent. Therefore it works in the favour for my business plan