INTRODUCTION Business plan an important documentthatexplained about a new business, its services and products. It defined leadership, staffing, financing, operations model and other details such as that how company earn money and essential to both operation and success. It is a very important strategic tool for entrepreneurs (Blank, 2013). This report based on the start up of a small business. The name of the company is “Before & After Coffee Cafe” which is going to start business of Herbal coffee and it is located at Bakewell, England, UK. This report explained about the small business which is now going to start and the value which help the business to promote it. Various type of market research is also explained such as primary, secondary and others or solution for resolving the ethical dilemma regarding the business. Business assets, liabilities, expenses or gains are described in the report. TASK 1 Setting a small business According to the report a small business of herbal coffee is setting up by an entrepreneur and start up budget of this business is£20,000. It is a small business of Herbal coffee which is start by After & before coffee cafe in Bakewell, England. Industry-A industry is a place where anindividual and entrepreneur operate business and providing services to others. It is an enterprise where entrepreneur develops their business and manufacture their products. Herbal Coffee business comes under coffee industry. Location-The entrepreneur starts its business in Bake well. It is a small market town and civil parish district of Derbyshire, England, which iswell know for the local confection Bakewell pudding.The entrepreneur starts its business here because many tourist visit here and for providing them its services or there are various corporate offices so the company can provide its services to their (Boni, 2012). The entrepreneur chose this location to start its business because there are various companies, banks and others so it can easily find its target customers and providing them its services. Tourists are also come to this place for visiting and it can find these customers also. Target customers- It is group of specific people within a business on which a company target to provide its services to them according their needs and wants. It can be a group of customers such as individuals, household or organisations for which the company designs, 1
implements and maintains a marketing mix suitable for the need and preference of that group of individuals (Burns and Dewhurst, 2016). After & Before coffee cafe target corporate people for its products and services because whole day are working so they are health conscious and have preference of herbal products. So seeing their need company target them so that it can fulfil their needs by providing product according them. Business model-It is an important and conceptual fo5rmate which support the viability of a business such as goals, purpose and others. It is smiler to business plan in its makeup and content that how a business fulfil its purpose and what kind of elements required to demonstrate the feasibility of a prospective business. After & before coffee cafe business model is that it provide coffee to its corporate customers and others because they are more conscious for their health and herbal coffee is a best option for them which they also have need. Herbal coffee has various benefits cause of them office people prefer it highly. It is beneficial for heart problems and maintain a person's youthful glow or help in prevent certain illness that cause memory loss and it is helpful to boost the brain's cognitive functioning. The cafe provides settings that always include the coffee mug along with napkins. They provide table service also to their customers for their meeting purpose and provide them a clean or crisp, low key atmosphere which is favourable to them. They provide them, a morning & late night option which is beneficial for customers and company because in UK the offices operate their work in sifts so it help the company to provide its services late night and provide activeness and feel fresh to the working people (England, 2013). Logo of the company 2
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The entrepreneur choose this logo because it show about the business that what kind of servicesareprovidedatthiscafeandhelpinattractingcustomers(Fernández-Guerrero, Revuelto-Taboada and Simón-Moya, 2012). Values to promote a business Business values are creating for developing business, encourage staff and provide better products and services that are helpful for the customers. Social-The entrepreneur operates its business without harming the society and provide employment to the people. Herbal coffee is the product of the company which is beneficial for the customers and for their health. Environmental-After & Before coffee cafe operating without harming the environment because it is not generating any kind of pollution and other things which are harmful for for the environment.Itusessimpletechniquesformakingteaandusepurerawmaterialsand ingredients which are used in coffee that are not harmful for the peoples and environment. TASK 2 Every company do market research to find out its customers and competitors in the market so that it can find out them and provide products and services to the customers or remove 3 Text: Herbal coffee
competition in the market by doing innovation in its own products. After & Before coffee cafe do various kind of research which are as following: Primary research- The company use this research to find out the data directly rather than depending on data collected from previously done research. After & Before coffee cafe conduct this research observation and online survey on its target groups or customers so that it can directly know their needs and the company can collect fresh and unused data which help the organisation to determine how and what they should make their products and services according their customers. Secondary research-In this research method the collect by previously data collection by books and journals and other sources.For doing this research coffee cafe visit various websites of coffee cafes and visit the feedback and collect data or use internet to get information about the customers taste and preference (Gately and Cunningham, 2014). Qualitative research-It is ascientific method of observation to gather non numerical data. The researcher used various method to collect data such as interview, analysis of artefacts, documents and cultural records or data analysis. After & Before coffee cafe used data analysis to found out its competitors in the market and customers interests. Quantitative research-It a research which is used by the company to gather numerical data which can be put into categories, rank order and can be measured. For doing this research the coffee cafe conduct descriptiveand experimental methods so that it can collect information deeply in about customers and also about the market (Herper, 2015). TASK 3 After & Before coffee cafe get a chance to promote its business and increase the sales through a company websitewhichis offered by that company. But there are some problem that this company have some cases of discrimination, bullying and harassment by the management. The entrepreneur of After & before coffee cafe decided to do not take support or help of this company to promote or increase sales of its business. There are thousands of customers are targeted by that company but the image was negative in the market. So with the help of this company, entrepreneur does not want to damage its brand image because it is starting phase of its business so there are high risk. For running its business properly, the entrepreneur use business value such as social and environmental friendly that will not harm the society and 4
environment and help in attracting the customer cause of good and pure quality of products and services. A case of employee discrimination held with a woman with dyslexia who working in Starbucks and a tribunal found that woman who known by her employer to have Dyslexia, was accused of falsifying the records. Dyslexia is a common learning difficulty that can cause problems with reading, writing and spelling. The employment Tribunal found that Starbucks had failed in its duty to make reasonable adjustments for that female employee. The tribunal heard that Starbucks accused her of falsifying the recordings, reduced her responsibilities ans ordered her to retain. That female employee, who is still employed by company, said she had made her senior aware of her dyslexia andtheaccusation of falsifying numbers had made her want to take her own life. The British Dyslexia Association said that it should be a alertring call for employers. The tribunal found Starbucks had failed to make reasonable adjustments towards that woman's disability and has discriminated the effects of her problem. It also found she had been victimised by her employer and there appeared to be little or no knowledge or understanding of equality issues (Jones and Penaluna, 2013). The entrepreneur decided not to chose the offer of that company for promoting its business. That company is facing various problem of discrimination, bullying and harassment cases andthiswill damage the brand image of the new company which is harmful and risky for the business. The entrepreneur use its own promotional strategies to develop and promote the business and use quality of raw material that is important thing to create the brand image and promotion of the comay. TASK 4 Zero-hours contract is a type of contract where people are work on contract base. It is a contract where it is not necessary to work continuously, it can be done by the employees on according their necessities. After & Before coffee cafe's business is now in starting phase so it hires two members of staff on zero hour contracts (Levy, Weitz and Grewal, 2012). Equality and Diversity law The Equality Act replaced legislation such as race and disability or discrimination and ensure consistency in what employers and employees need to do to make make their workplace fair environment and comply with the law. This law removes and prevent After & Before coffee cafe from discrimination and remove the inequality factor such as sex inequality or pay 5
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inequality. A positive approach to diversity allows the company to select the good person for doing the work that is based on gender and race that are not relevant factor to the ability to do the job. These legislations help the company to hiring people on the basis of their talent, knowledge and skills by removing discrimination. After & Before coffee cafe select the employees on the basis of their knowledge and skills with the help of these laws and remove inequality and disability or discrimination factor on its selecting process. Rights for new employees All employees have basic rights in the workplace including some rights such as:Privacy rights,clear&faircompensationandfreedomandin-dependencyfromalltypesof discrimination. Right to fair wages for work performed. Righttosafeworkenvironmentwhichisfreefromdangerousconditions,toxic substances and other potential safety hazards. Right to health and safety or flexible working agreements. After & Before coffee cafe provide various rights to its employees such as fixed working hours, fair compensation, right of privacy, safe workplace and health or safety so that they can work without facing any problem within the organisation and help so that they can feel equality and diversity at the work place (NHS England, 2013). TASK 5 Business' assets, liabilities, expenses and gains A business can start or run with the help of assets, liabilities, expenses and gains. Assets- Anything tangible and intangible that can be owned and controlled to produce value of ownership. An asset is anything of value or a resource of value that can be converted in to cash. In After & Before coffee cafe, assets can be buildings, land, furniture, machinery and vehicles, mutual funds or others (Weinstein and et. al., 2014). Liabilities- It is explained like company's legal financial obligations or debts that occurs during the course of business operations. Any types of debts which is borrowing by the company to run its business that payable in future short or long term of time.. For After & Before coffee cafe, it can be bank loan, taxes, wages, coffee cafe insurance and others. Expenses-It is an outflow of money to another person or group to pay for an item or service or for a category of costs. Money spent or cost incurred in an organisation's efforts to 6
generate revenue and representing the cost which is incurred in the business. For Coffee cafe it can be, machine, refrigerator, freezer, raw material, sitting material, interior and others. Gains-It is related to profit that a company earn through its business. For After & Before coffee cafe it can be sales of the business and the profit which can be gained through the sales. For solving the problem of cash flow the company can up to date with the starting of the business and have every information about the business transaction so that the company can remove cash flow problems. After & before coffee cafe can offer a range of different payment methods so that they can pay easily. It can be consider changing suppliers, manage its stock carefully and managed fixed and variable expenses to remove the problem of cash flow (Wentzensen and Wacholder, 2013). Budget- ParticularsAmount ( GBP) Cost incurred to acquire tools and equipment for preparing coffee 5000 Cost to hire employees2000 Cost incurred to buy raw material3000 Cost incurred to pay rent for building4000 Costincurredininteriordesigningand furniture 6000 Total20000 CONCLUSION In this report concluded about a small business which is setting up by an entrepreneur and the industry, location, target customers are explained in the report according the company and its business.Thevalueswhicharehelpfulforpromotingthebusinesssuchassocialand environmental are also defined in the report. Various kind of market research are also described such as primary, secondary, qualitative and quantitative for knowing the customers’ needs and competitors. Impact of Equality and Diversity Law are also explained when company selecting applicants. Business assets, expenses, liabilities and gains are defined in the report according the new starting business. 7
REFERENCES Books and Journals Blank, S., 2013. Why the lean start-up changes everything.Harvard business review. 91(5). pp.63-72. Boni,A.A.,2012.Thepitchandbusinessplanforinvestorsandpartners.Journalof Commercial Biotechnology.18(2). Burns, P. and Dewhurst, J. eds., 2016.Small businessand entrepreneurship. Macmillan International Higher Education. England, N.H.S., 2013.Putting patients first: the NHS England business plan for 2013(Vol. 16, p. p16). 14–2015. Fernández-Guerrero, R., Revuelto-Taboada, L. and Simón-Moya, V., 2012. The business plan as a project: an evaluation of its predictive capability for business success.The Service Industries Journal. 32(15). pp.2399-2420. Gately, C. and Cunningham, J., 2014. The contributions and disconnections between writing a business plan and the start-up process for incubator technology entrepreneurs. In Academic entrepreneurship: Creating an entrepreneurial ecosystem(pp. 197-241). Emerald Group Publishing Limited. Herper, M., 2015. Surprise! With $60 million Genentech deal, 23andMe has a business plan. Forbes. Jones, C. and Penaluna, A., 2013. Moving beyond the business plan in enterprise education. Education+ Training. 55(8/9). pp.804-814. Levy, M., Weitz, B. A. and Grewal, D., 2012.Retailing management(Vol. 6). New York: McGraw-Hill/Irwin. NHS England, 2013. Putting Patients First: The NHS England business plan for 2013/14– 2015/16. 8
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Weinstein, R. S., and et. al., 2014. Telemedicine, telehealth, and mobile health applications that work: opportunities and barriers.The American journal of medicine. 127(3).pp.183- 187. Wentzensen, N. and Wacholder, S., 2013. From differences in means between cases and controls to risk stratification: a business plan for biomarker development.Cancer discovery. 3(2). pp.148-157. Online BusinessPlan.2018.[Online].AvailableThrough: <https://www.shopify.com/encyclopedia/business-plan>. 9