ENTREPRENEURIAL OPPORTUNITY: Vegan Hub Business Plan & Analysis

This project presents a comprehensive business plan for "Vegan Hub," a new venture focused on providing vegan fast food and beverages through a digital platform. The assignment begins with a concise introduction to the business idea, followed by a detailed micro-level market assessment to identify...Read More

ENTREPRENEURIAL OPPORTUNITY

INTRODUCTION
BUSINESS IDEA
Micro level market assessment
Macro-level market assessment
Macro-level Industry assessment
CONCLUSION
REFERENCES
TABLE OF CONTENT

Entrepreneurs are those business owners who are establishing their business by developing a new and
innovative business idea that offers new products and services to customers and to the society.
Entrepreneurs explores and exploits the present opportunities in the marketplace, develop creative
offerings for fulfilling the needs of customers and render them value.
INTRODUCTION

Introduction to Business Idea
The new business idea is of providing people Vegan food and Beverages (Snacks/fast food) through
developing presence on digital media and virtual platforms. Basically, the business will be offering Vegan
fast food and beverages to people according to their orders received on the personal food delivery
application. The name of the new venture and the application is the “ VEGAN HUB”.
BUSINESS IDEA

Market Domain/Micro Level: Sector Market Benefits and Attractiveness:
In this domain the segments are looked over for identifying the most suitable group form the market
whom the new venture offerings can satisfy by fulfilling their needs and desires. VEGAN HUB have a
unique offerings that involves the product and services being offered.
 At first the business can not keep everyone happy and serve all the segments.
MICRO LEVEL MARKET ASSESSMENT

 VEGAN HUB can resolve the problem of people being
missing fast food as they only vegan. They can have their
food served any time required through flexible delivery
options and pre-order service being offered as well.
Moreover, the customers can provide exact instructions
for the ingredients to be used and for the cooking process
too for their orders.
CONTINUE….

 VEGAN HUB new venture idea belong to hospitality industry one of the most dynamic and rapidly
growing business industry around the globe. The reason behind its growth is the dynamic nature and
regularly changing trends which renders new opportunities and ideas for entrepreneur to explore and
develop.
MACRO-LEVEL MARKET ASSESSMENT

In the industry analysis for VEGAN HUB a framework provided by Michael Porters known as Porter's
Five Forces is used. The tool has five aspects which shows the competitiveness of the venture in the
industry.
 Threat of Entry is low for VEGAN HUB as the barriers to enter the market and the industry is low.
Also, the cost involved is comparatively low because of the usage of virtual platforms and digital
media.
 Supplier power can be reduced and will be low as the venture will not be dependent on one or few
suppliers. The company can be powered by reaching out to many suppliers for the raw materials and
other required goods.
MACRO-LEVEL INDUSTRY ASSESSMENT

Sustainable Advantage: The Unique Selling Point (USP), of VEGAN HUB is their recipes which are
new, creative and regularly innovative and the 24*7 food delivery service. The Competency of the firm
VEGAN HUB is the experts appointed for the job that is best chefs and most humble and fast delivery
persons.
CONTINUE…..

The mission, personal aspirations and risk propensity test for entrepreneurs: The Mission
Statement of VEGAN HUB is clearly stated by its products and service offering to render new dimension
to the hospitality industry around the world by working with trends and for the society.
Team Domain: Ability to Execute on Critical Success Factors:
The identified and determined Critical Success Factors of VEGAN HUB are as follows:
 The uniqueness of the offerings.
 Best quality of products that is food and beverages being served along with best services during and
after sales. Customer focused approach.
CONTINUE….

 The Connectedness test: The business before started needs to be well informed and have all the
require ample amount of data and knowledge. For gathering all relevant information for the VEGAN
HUB secondary sources are utilised.
CONTINUE…..

 The above presentation is developed for exploring and developing a new business venture which is
creative and new concluding the need to effective test to be conducted before entering the market and
for holding a competitive edge form other in the marketplace either the existing competitors or the new
emerging firms.
CONCLUSION

 Clark, K. and Ramachandran, I., 2019. Subsidiary entrepreneurship and entrepreneurial opportunity:
An institutional perspective. Journal of International Management. 25(1). pp.37-50.
 Emami, A., 2017. Gender risk preference in entrepreneurial opportunity: evidence from
Iran. International Journal of Entrepreneurship and Small Business. 30(2). pp.147-169.
 George, N. M. and et. al., 2016. A systematic literature review of entrepreneurial opportunity
recognition: insights on influencing factors. International Entrepreneurship and Management
Journal. 12(2). pp.309-350.
REFERENCES

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