Enterprise and Entrepreneurship: A Business Plan for 'Energy Buzz'

This report discusses the business plan for 'Energy Buzz', a herbal energy drink that enhances the immune system and memory of adults. It includes market analysis, customer segmentation, competitive analysis, skills analysis, funding options, resource planning, and vision for the business idea.

Enterprise and
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Proposed Future Business.......................................................................................................3
Customers...............................................................................................................................3
Competitors ...........................................................................................................................4
Skills analysis.........................................................................................................................4
Projected 2 year profit and loss account and proposed 2 years cash flow forecasts including
break even ..............................................................................................................................5
Funding options......................................................................................................................8
Plans for obtaining resources, both tangible and intangible...................................................8
The type of organisation and management information systems required to effectively control
the business.............................................................................................................................9
Vision for the Business Idea...................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES:.............................................................................................................................10
Books and Journals...............................................................................................................10

INTRODUCTION
There are huge number of opportunities that are present in market. There is need of
entrepreneur to manage the work and grab the opportunity. It is important to use an innovative
idea so that they are able to achieve success (Minto-Coy, Lashley and Storey, 2018). In this
report there is discussion related to products and services that are offered by new business. The
target customers of the company are identifies so that they can be served to the users in proper
way. The competitive analysis for the business are done and there is need of various skills that
help to start a business. The sources of finance are analysed and best among them is selected.
Along with that a plan that includes the resources so that they are able to successfully start the
business.
MAIN BODY
Proposed Future Business
There is need of energy drink that helps to enhance the immune system of customers.
After Covid-19 there is high demand of such a product that is healthy for the customers. “Energy
buzz” is made up of herbal drinks. All the essential nutrients that enhance the energy level of
customers are part of it. The drink is available in flavours so that the customers are able to
choose among them. For adults this drink is available as memory booster. It will help them to
retain the things in their minds for longer time. The business has made all the efforts to make it
healthy as well as tasty (Matlay, 2021). It is a part of food and beverage industry. It is important
to for the entrepreneur to understand the need of business and launch such a product that is
beneficial for the customers. There are several drinks that re already present in market, but
“Energy buzz” will work to provide instant energy to the customers. It is important for a business
to protect their idea. The business will take patent so that no one else is able to copy the idea and
use the same to start the business.
Customers
Segmentation: It is the process of dividing the overall population in small group of
customer that have same characteristics. There are certain basis of segmentation such as
demographic, psychographic, behavioral and geographic segmentation.
Targeting: There is need to select best group of customers that will be served by
business organisation. It is necessary to select best among them by conducting proper research.

In relation to “Energy buzz” they will target the people of age group 18 to 35 that basically
fitness conscious, gym freak, sports people in market. . The target customers understand the need
of a healthy drink and will buy the same (Burnett and Danson, 2017). The drink that is made
especially for adults will be for enhancing energy, concentration and endurance.
Positioning: It is the process of setting good image of the products in the market. It is
necessary to set good image of the product in the minds of customers. They will plan to provide
quality products to the customers on affordable price.
Research: Proper research is conducted so that the needs and wants of customers can be satisfied.
There is requirement of analysing the problem of customers and then working to solve the same.
In this regard “Energy buzz” understood that there is requirement of supplement drink that helps
to enhance the memory of adults. At the same time the drink provide instant energy to the
customers. The use of good quality ingredients enhances the value of the drink. The business
organisation will attract the customers and capture good market share.
Competitors
It is important to note that “Energy buzz” is coming with new idea. They are planning to
bring a herbal drink in the market. It is a new product so there is less fear of competitors. The
idea is new and focusing on enhancing the memory level of adults. It will help them to satisfy the
needs of the customers in proper manner (Weaver Mbacke and Gallagher, 2021). There is need
of providing the product at affordable price so that customers are attracted towards the company.
At the same time the threat from green tea and herbal tea is present as these are the competitors
of the products that are present in the market.
“Energy buzz” will use social media marketing campaign to attract the customers. At the
launch of the product, the business organisation will use the idea of free samples so that they are
able to grab the customers. It will help to serve the customers in proper manner.
Skills analysis
There is requirement of various skills and capabilities that help to start own business. It is
necessary to know about the skills and know about the areas of improvement. It will help them to
develop those skills and achieve success of the business.
Skills Essential Desired Skill gaps
Problem-solving skill 9 5 4

Research skills 9 6 3
Creativity 9 5 4
Problem-solving skills: There is need of problem solving skills. It helps to analyse the
situation of the customers and then work to solve the same. It can be done by interacting with the
customers on regular basis.
Research skills: There is need of proper research skills that assist the owner to conduct
proper research related to the trend in the market. It will help to start best business that satisfies
the requirement of the customers.
Creativity: An entrepreneur must be creative so that they are able to launch innovative
idea. The idea of “Energy Buzz” is innovative and full of creativity (Matlay, 2017). To enhance
creativity there is need to read business ideas and study about them.
Projected 2 year profit and loss account and proposed 2 years cash flow forecasts including break
even
Profit and Loss

Cash Flow

Funding options
It is important to select best source of fund to start the business. The options that are
available in market are as follows:
Bank loan: The business idea must be presented in front of bank, They provide loan to
start the business. The rate of interest is fixed and the principle amount is also repaid by the
business.
Personal investment: The use of personal investment can also be done to start the
business. The money and saving done by the person can be used in order to start the business.
The money of friends and family is also part of this personal investment.
Venture capital: It is a form of private equity financing that is being provided to
ventures in order to start their business (Yasin, and Hafeez, 2018). They give capital to start ups
so that they are able to start their own business and check their growth prospects.
The use of bank loan will be done is case of “Energy Buzz”. It is required to take loan
from bank so that the rate of interest is fixed and the money is used effectively.
Plans for obtaining resources, both tangible and intangible
There is need to obtain the resources in proper manner. Resources facilitate the work that
is done by an business organisation. The steps that are followed by “Energy Buzz” are as
follows:
Step 1: List the resource required
In the first step all the resources that are required to carry on the business are listed. The
human resource, financial resources, equipments, materials that helps to complete the work are
analysed. Intangible resource here is patent.
Step 2: Estimate the number of resources required
In this stage the the number of resources that are required to carry on the business are
analysed so that they are purchased and made available (Tien and et.al., 2019). Their
consumption rate is also analysed in this stage.
Step 3: Construct a resource schedule
A schedule is formulated that has information and all the details related to the resources.
It includes the following points:
 Resources required
 Time frames for the consumption

 Quantity of each resource required
 Total quantity of resource consumed
 Assumptions and constraints identified
The type of organisation and management information systems required to effectively control the
business
The business will be a privately owned organisation that is sole proprietorship. It will be
owned and managed by single owner and decision making will be done. It helps to manage the
business and complete all the tasks effectively.
Management information system plays a crucial role in managing performance,
productivity, and profitability of the organization. It is important to keep record of all the
information from starting so that there is no problem faced by business in the end.
Vision for the Business Idea
Vision of the business shows what they want to achieve in future. The vision of “Energy
Buzz” is to provide quality product to the customers that make them healthy.
CONCLUSION
It is concluded that there is need of analysing the market so that they are able to start the
business effectively. There is need to mention the details related to the product and the target
customers of the business. The skills required to carry on the business are identified and the skill
gap in also analysed. Bank loan will be used to start the business. The resource plan is
formulated as it supports resource planning done by the company. The vision of the business
organisation is also mentioned in the report.

REFERENCES:
Books and Journals
Burnett, K.A. and Danson, M., 2017. Enterprise and entrepreneurship on islands and remote rural
environments. The International Journal of Entrepreneurship and Innovation, 18(1),
pp.25-35.
Matlay, H., 2017. Introduction:“the internationalisation of enterprise and entrepreneurship
education”. Education+ Training.
Matlay, H., 2021. international enterprise and entrepreneurship education. Education+ Training.
Minto-Coy, I.D., Lashley, J.G. and Storey, D.J., 2018. Enterprise and entrepreneurship in the
Caribbean region: introduction to the special issue. Entrepreneurship & Regional
Development, 30(9-10), pp.921-941.
Tien and et.al., 2019. Sustainable social entrepreneurship in Vietnam. International Journal of
Entrepreneurship, 23(3), pp.1-12.
Weaver, R., Mbacke, M. and Gallagher, K., 2021. Weavers Social Enterprise Directory: a tool
for teaching social enterprise and entrepreneurship. In Annals of Entrepreneurship
Education and Pedagogy–2021. Edward Elgar Publishing.
Yasin, N. and Hafeez, K., 2018. Enterprise simulation gaming: effective practices for assessing
student learning with SimVenture Classic and VentureBlocks. In Experiential learning
for entrepreneurship (pp. 51-69). Palgrave Macmillan, Cham.