Easy Store Business Plan: Market Opportunity and Financials

This business plan outlines the strategy for Easy Store, a new retail startup focusing on consumer products and services in the UK market. The plan includes a business description, market opportunity analysis, and industry analysis utilizing Porter's Five Forces model. It details the company's operations, management team, and marketing strategies based on the four Ps (product, price, promotion, and place). The financial section covers revenue generation, sources and uses of funds, and cost analysis. The plan emphasizes the company's focus on online retail, its competitive advantages, and its strategies for differentiating itself from competitors like Asda, Sainsbury's, and Aldi. The document also includes the company's mission to prioritize customer satisfaction and adapt to the changing retail landscape, especially after the COVID-19 pandemic, focusing on online sales.

BUSINESS PLAN TEMPLATE: THIS TEMPLATE MUST BE USED FOR THE ASSESSMENT. YOU MAY INCLUDE PICTURES
TO IMPROVE THE PROFESSIONALISM OF YOUR WORK
BUSINESS DESCRIPTION / MARKET OPPORTUNITY
For this report, a new start up will be opened and started to do a retail business of consumers’ products and services. The main
mission of a new start up which name is Easy store is to become the champion for all customers. It is found to be present in online as
well as offline stores. The purpose is to serve Britain's shoppers a little better every day. This is the main reason that they give first
priority to the customers (Kiesel and Harkiolakis, 2021). They want to sell and make profits on products but with the consideration of
their customers. Currently, it is identified that they are focusing on making the online platform better as compared to other retail
stores. After the pandemic, they are focus on the adoption of online shopping and many counts the cost of change. With their
innovative step of adoption of online shopping, they will enjoy many marketing opportunities as it becomes a new trend in the market
and people like to do online shopping. It is identified that Easy Store is not found good in online sales because they run their business
in only on stores. But after pandemic they need to work on online platform. They already has developed an online websites and
applications. But it is necessary to make it better now so that they will be able to deal with the competitive market. So they make a
business plan for making a better online retailer. Retail industry is found to be the most integral part of UK’s economy so that’s why
they have an opportunity to increase profits as well as revenues.
INDUSTRY ANALYSIS
Easy stores comes under the retail industry and it identifies the retail industry as an important and integral part of the economy. It
comprising of 5.2% of the gross domestic product in 2020 and also identify that 9.3% of all UK employees in 2019 ( Fichter and
Tiemann, 2020). It is necessary to know that total retail sales in terms of volume in the UK have doubled since 1989 because of the

rapid rise in online sales. This can be understood with the help of the below figure:
Easy stores is found to be a start-up retailers in the United Kingdom market. As it is the start up so they will enjoy many government

subsidies benefits. It is identified that the UK government is always gives priority to the start-ups so that’s why they require to
arrange all resiurces which are required for the successful beginning of start-up especially in online platform (Pham, 2020). For
analysing more about the industry, it is very important to use Porter's five forces model as it includes an analysis of all forces. This
model is very helpful in understanding the dynamics of the retail industry. All the important forces covered under Porter's 5 forces
model are mentioned below:
Threat of new entry
It is identified that the UK supermarket industry is worth approximately 181 billion British pounds and it is expected to grow in the
coming years. It is identified that the treatment of new entrants can be determined by barriers to entry. Currently, it is not an easy
process for a new company to enter the UK supermarket industry (Solihin and et.al., 2022). As it is found that the supermarket
industry is very attractive for existing companies which can be understood from the example of Tesco, Asda, Sainsbury's, etc. It is also
identified that opening a new business similar to Tesco required a heavy cost which includes 100 million pounds and it is not certain
that they still achieve success. This is the main reason that trying to new and rent in the UK supermarket industry is found to be less
dreadful. It is identified that Easy store has a treat of entry because of these giant retailers that already have a reputation in the

market.
Threat of substitutes
It is also identified that the threat of substitutes is considerably low for food items in the UK supermarket. Surely, it is impossible for the
customer not to eat food. The threat of substitutes is found to be low because Easy Stores need to make the supermarket industry more
attractive similarly to an existing company.
Bargaining power of customers
The bargaining power of buyers in UK supermarkets is found to be strong. It is s every organisation knows that powerful customers
influence the prices of products and services (Bourne, 2021). Because there is a very small switching cost to go from one competitor to
another competitor so people can easily switch from one organisation to another organisation.
Bargaining power of suppliers
It is known by every organisation that if there are small numbers of suppliers available in the industry then they get high power which
results in becoming a Monopoly situation. In the case of the UK supermarket industry, it is identified that the supply power is not
strong as there are thousands of suppliers available at both local and international levels which catered for the needs of supermarkets
(Nunes, 2022). So Easy Store can easily do better deals with suppliers as they can able to negotiate due to less power of suppliers.
Competitive Rivalry: who are your main competitors and how can you differentiate yourself from them
Name of competitor Differentiation
Asda This company was found to be a main competitor of Tesco but Easy store will definitely become a market leader
because of a good marketing strategy.
Sainsbury’s Sainsbury's is also found to be a competitor that provides a tough competition to Easy store but it is identified that
Easy store’s products and services are better than Sainsbury's.

Aldi It is also a big competitor of Easy store which is currently facing of a big war in price. Easy store also wants to on
price but still, they are providing goods and services with minimum rates to the customers.
You may add more names if you wish
OPERATIONS AND MANAGEMENT TEAM
OPERATIONS
It is identified that the production element of Easy store activities are based on service-oriented. Operations become the second
upstream opportunity for a company that enables the products in services provided to the customers (Cvetić1 and Momčilović1,
2018). It also includes important tasks such as the opening of stores every day according to the trading hours, maintaining stock as
well as shelves. It is very important for Easy store if they want to obtain a future competitive advanced then they need to consider
expansion in terms of operating hours in those places where they are not opening new metro and express stores. It is identify the Easy
store has its own factories for their daily products and meet products. The customer of Easy store expect to purchase products which
made to the highest quality and that's why Easy store is trying to give surety of the production services quality. They follow a process
which include the product development, labelling and packaging, testing program, food safety in our stores, etc.
How would you generate revenue for your business? E.g., How would you prevent loss of revenue?
Easy store is generating its revenue from the selling of goods and services to the customers at affordable prices. It is also identified
that they are using a strategy for preventing loss of revenue. Due to the pandemic, they're facing a heavy loss and currently, they

made a strategy in order to combat that loss.
MANAGEMENT TEAM
Name Skills What do they bring to the firm
Chairman Effective communications skills, impartial,
clear vision, passion towards work, etc.
It is identified that the chairman is
responsible for leading the board and its
members. They are focusing on strategic
matters which are important for the success
and growth of firm. They are also overseeing
business groups and setting high governance
standards.
Group Chief Executive Decision making skills, confident, business
management skills, etc.
Group chief executive of Tesco has
responsible for brand strategy (Sopiyah,
Yulinda and Meliani, 2020). They are also
responsible for brand management, product
development, sourcing, sales and marketing,
distribution and manufacturing.
Chief Financial Officer Leadership skills, problem solving skills,
data skills, time management skills, etc.
CFO is responsible for managing the
financials actions of company. They are
tracking financial planning and cash flow.
You may add more names if you wish

MARKETING: The Four P’s must be used to describe your marketing strategy
It is very important for the organisation that they need to analyse the marketing mix elements which assists in achieving the goals and
objectives of organisation. For making a marketing strategy, an organisation must focus on four important elements of the marketing mix
product, price, promotional mix and place.
Product: Brief description of your product
Easy store is providing a wide range of products and services to its customers. Easy store has approximately 1900 product types. It is
a supermarket which includes all types of products and services. It is a multinational grocery and journalised merchandise retailer.
Within every category, it is identified that Easy store provides a huge range variety of choices in food that influence customers as they
are not able to leave that product. They also provided products like clothing and jewellery apart from food products, technology and
gaming, Home electrical, health and beauty, etc.
Price: How much would you charge for your product and what is the basis for the price chosen?
Tesco's pricing strategy is found to be a cost leadership as the aim of Easy store is to reduce the cost of purchase with the help of
economies of scale. It also uses a club card system which has a feature to allow its customers for gaining points when they are
purchasing any product and services from their Stores. It will provide additional discounts when they become loyal customers.
Promotional Mix: What techniques would be used in promoting your product?
It is identified that their branding and advertising are found to be famous as it is the gold standard. It is identified that advertising and branding
advantage is its low price which makes more attractive the advertisements and able to attract more and more customers towards their
supermarket Store.
Place (Distribution strategy): How would your product be distributed?
It is identified that the stores of Easy store are white be spread in the world and they have two main important channels of
distribution which include online and offline services. Those customers who are not comfortable with big stores like Easy store extra

then they can easily reach to their little store.
FINANCIALS
In a business plan, it is important to note that financial is being a very important role as it is necessary for the purpose of running a business on
a daily basis. Finance is the backbone of any organisation and that's why without finance it is not possible to run and the stay in the market. In
order to run a business, it is crucial for company to collect funds from various sources.
Sources of funds: where would you be getting funds from?
There are many types of sources of finance which used by Easy store that includes internal sources as well as external sources. In the
internal sources of Easy store, they include retained earning which they re-invest at a certain percentage from their profits so that
they will able to make further decisions. It also include fixed assets and current assets which is another source of finance. External
sources of funds include loans, bank overdraft in credit card will be of no interest for Easy store as they are two financially significant
to benefit from them.
Use of funds
 Payment of day to day operations
 Saving for future uncertainties
 Make provisional
 Payment of all purchase creditors
 Future investments
 Make reserves
Month 1 Month 2 Month 3
Revenue 100000 150000 200000

Fixed Cost
Rent
Insurance
Salary
10000
7000
15000
10000
7000
15000
10000
7000
15000
Variable Costs (55%)
Purchase of raw material
Conversion Cost
Packing
40000
10000
5000
60000
15000
7500
80000
20000
10000
Profit 13000 35500 58000
REFERENCES
Bourne, M., 2021. Nonfiction Book Proposals: THE FINE ART OF CRAFTING A LITERARY BUSINESS PLAN. Poets & Writers
Magazine, 49(6), pp.91-95.
Cvetić1, T. and Momčilović1, O., 2018. Business models in Serbia: innovative approach in creating a business plan for start-up
enterprises. BUSINESS MANAGEMENT, ENTREPRENEURSHIP AND ENTREPRENEURIAL TENDENCIES, p.145.
Fichter, K. and Tiemann, I., 2020. Impacts of promoting sustainable entrepreneurship in generic business plan competitions. Journal of Cleaner
Production, 267, p.122076.
Kiesel, S. and Harkiolakis, N., 2021. Findings from 20 years of business plan competitions in North-Bavaria. International Journal of Teaching
and Case Studies, 12(1), pp.42-62.
Nunes, B.A.N., 2022. Business plan: innovative platform to create digital memorials (Doctoral dissertation).
Pham, M.T.L., 2020. Business Plan-Viet Balo: The role of a business plan to a start up in the food & beverage inudstry.
Solihin, I., and et.al., 2022. Behavioral Analysis of SME's Business Plan Preparation Before and After Running a Business: The Case Of
Indonesia: https://doi. org/10.37178/ca-c. 23.1. 130. CENTRAL ASIA AND THE CAUCASUS, 23(1), pp.1293-1300.

Sopiyah, F.R., Yulinda, P. and Meliani, Y., 2020. Community Readiness as a Business Plan to Its Digital Era Competitiveness. International
Journal of Management, 11(5).