Business Plan for The Family Cafe: Feasibility Study, Marketing Strategies and More

Entrepreneurship and
business development

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
Concept of causation and effectuation.........................................................................................3
Feasibility study of New Venture Concept..................................................................................4
Relationship between entrepreneurship and innovation..............................................................4
TASK 2............................................................................................................................................5
Competitive analysis....................................................................................................................5
STP analysis.................................................................................................................................6
Justification behind feasibility of business..................................................................................6
TASK 3............................................................................................................................................7
Frameworks and concepts............................................................................................................7
Proposed business model and Process of working of new venture.............................................8
TASK 4............................................................................................................................................8
Business and marketing strategies for success.............................................................................8
TASK 5............................................................................................................................................9
Quantitative and qualitative planning tools to assess and mitigate risks.....................................9
Common mistakes made by entrepreneur at first time..............................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Business plan is a very significant strategic tool for the entrepreneurs of the business that
not helps them in concentrating on particular steps that are necessary for them but also facilitates
them in attaining short-term as well as long-term objectives. Within this report, a new business
idea will be discussed that explains concept of introducing a new product or a new service. This
report includes concept of causation and effectuation along with conducting a feasibility study of
new venture concept as well as relationship between innovation and entrepreneurship. Moreover,
there will be competitive as well as STP analysis to evaluate opportunities within marketplace
and along with it, there will also be a discussion on feasibility of business (Abuzjarova, 2018).
Furthermore, there will be application of relevant frameworks as well as concepts and a
discussion on proposed business model along with process of working of a new venture. This
report also covers marketing strategies of business for it success and an explanation on
quantitative as well as qualitative planning tools that can be used by an entrepreneur.
MAIN BODY
Within this report, the business of Cafe is taken into consideration, named The Family
Cafe that offers multiple food items such as Pasta, Pizza, Shakes, Mocktails, Coffee, Sizzler,
Lassi and many more. The respective business is going to introduce a new variety within the
Lassi in the form of a new flavour of the fruit. The Family Cafe was already providing Orange
Lassi, Pineapple Lassi, Rose Lassi, etc. and now the cafe is planned to introduce the Mango
Lassi.
TASK 1
Concept of causation and effectuation
Causation is said to be the term which is impacted through an event, object, state as well
as process that facilitates in introducing another process, event, object or state where the cause is
accountable for the effect and its effect is relied on cause (Akpan, 2021). The main motive of
The Family Cafe is to develop the new ideas and along with it, to access the several resources
which permits it in achieving the objectives as well as goals of the organisation. This helps the
firm in solving multiple issues that are faced by the management of the organisation. This is very
significant for The Family Cafe to predict the uncertainty within the business as it would

facilitate it in preparing the organisation in order yo face the problems that occurred in the near
future.
Effectuation is considered as a process of decision-making that has been evolved within
the entrepreneurship in the form of a rational economic process of decision-making. This kind of
process takes a set of means that is given and concentrate on choosing between the possible
effects which can be generated with that respective set of means. This is considered as an
approach that facilitates in making the decisions and operating various activities in the process of
entrepreneurship that recognise multiple steps with the assessment of the different resources that
are available for the achievement of the objectives as well as goals of The Family Cafe.
Feasibility study of New Venture Concept
In context to New Venture, the feasibility study is that type of study that is designed to
determine whether a proposed idea or a project should go forward or not by ascertaining whether
the plan or the project is doable or practical (Amjad, Rani and Sa'atar, 2020). The feasibility
study of new venture of The Family Cafe can facilitate the business in identifying the strengths
as well as weaknesses of the proposed plan. This is a good idea in order to have a contingency
plan in case of the uncertain circumstances. There are some advantages of having the feasibility
study within the New Venture and these benefits are:
 Being specific as well as focussed, the feasibility study starts with asking whether the
idea of introducing a new product or business is a viable solution and also forces
entrepreneur of The Family Cafe in concentrating solely to drill down for exploring the
possible results.
 This kind of study pressurises an entrepreneur in first considering the big picture and then
make thoughts regarding the top-bottom strategy (Azizi and Mahmoudi, 2019). The
Family Cafe is planning to introduce Mango Lassi in which the main ingredient will be
Mango and there will also be another ingredients that makes the people feel refresh and
energetic.
Relationship between entrepreneurship and innovation
Innovation is the process of creating something new that has not been ever exist within
the business and this process does not create the opportunities for the organisation always.
Entrepreneurship is the process of identifying the opportunities within the great innovations as
well as creating the opportunities and adding along with keeping the values improving over a