Business Development Plan for Eat-O-Bowl Restaurant in London City

Innovation and
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
An idea of business development...........................................................................................3
Market analysis.......................................................................................................................4
Industry analysis.....................................................................................................................5
Operations details...................................................................................................................6
SWOT analysis.......................................................................................................................6
Financial requirements...........................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
Books and Journals:..............................................................................................................11
Online:..................................................................................................................................11

INTRODUCTION
With the increase in competition, most of the entrepreneurs have begins with innovation.
Innovation basically aims to improving or replacing something. Innovation denotes as the
specific instrument of entrepreneurs with the support of which a person uses the changes as a
chance for a different business. Innovative entrepreneurship can be understood as the practice of
setting generating new ideas of business aiming to gain profits from the business, help their
community and attain business goals (Amorós, Poblete and Mandakovic, 2019). Entrepreneurs
who are innovative create business models to acknowledge to meet the organisational
requirements while enhancing their competitiveness in the market. An innovative entrepreneur
can be a person who have the ability to manage to produce innovative products to meet the
demands as well as trends of the market. The following report aims to build a business
development plan for a business. In this report, various aspects of business development plan are
covered such as business models, market analysis, industry analysis, operational details, SWOT
analysis and many more.
TASK
An idea of business development.
The business development plan is prepared for the “Eat-O-Bowl” company. It will be a
restaurant establishes in London City, UK. This will be one of the famous restaurants known for
its various food such as a range of different sandwiches, soft drinks, mock-tails, pizzas, burgers,
pasta, chocolate brownies and many more. This restaurant will serve its products and services to
a greater number of customers in the city. It will have professional chefs and cooks who will be
able to serve delighted food and beverages on the table. It will be a rooftop cafe with exciting
and chasing decorum in the restaurant. This company will hire 5-7 professional chefs and 10
junior chefs to support the head chef, 7-8 waiters, one manager and one receptionist. The plan is
made so that this restaurant will be able to serve quality of various snacks, desserts and drinks to
its customers (Business, 2019). The restaurant will have its speciality on its products such as
these products are made from vegan ingredients that helps in creating uniqueness and
differentiation. As this is a trend in the market that customers are more likely to consume food
which are vegan in nature, it will in gaining customer attention.

Market analysis
A market analysis can be used a thorough assessment of a marketplace within a certain
industry. With this analysis, the market dynamics are studied such as potential customer
segments, value and volume, buying patterns, competitors and many more. The market analysis
in Eat-O-Bowl's context is as follows:
 Industry overview: The business Eat-O-Bowl comes in food and beverage industry
which is one of the growing and developing industries. There many business
entrepreneurs who invested in restaurant business as it helps in generating more
customers base as well as profits. It has high competition in the industry so it is necessary
for the respective business to create uniqueness in its services as well as products. It is
seen that nowadays, people are also like to take their meals and eat outside the premises
due to maintaining social distancing and hygiene purpose (Chou and et.al., 2020). Vegan
and less oily products are in high demand by the customers. All such considerations will
be taken into mind for the launch of new business.
 Define target market: It is mainly considered with the market size, demographics,
location psychographic, trends, behaviours and many more. The products and services
will be limited up to regional area so that better the services can be indulged to
customers. The customers are targetted on the basis of behavioural, demographic and
psychographic segments. Customers are targeted mainly between the age group of 18-40.
by analysing behavioural factors, the services also be customized so that every customer
can have better services.
 Competition: There are many local and multinational companies established in UK
which sells high standard services and products to attract customers. Some of main key
competitors Costa Coffee, Fox Cafe Lounge and so forth. Hence, this becomes very
essential for the Eat-O-Bowl to be differentiated in its way so that more customers
attracted towards the brand. It is also identified that there are least barriers to entry in the
industry so it will also must be taken into account.
 Pricing and forecast: This is the last step in the market analysis in which prices are
figure out in order to boost out the sales of business. After analysing all the facts and
figures, the prices will be kept reasonable and affordable so that more customers can