Entrepreneurship and Business Development

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Entrepreneurship is a process through which new business ideas are created by the
entrepreneurs and appropriate actions are taken in order to transform them into reality. Business
Development is a process through which a business is grown successfully so that it can enhance
the overall profits in the future without problems and issues. Thus both of them are essential for
the entrepreneurs to consider so that they are able to facilitate the attainment of the goals and
objectives in the future (Alonso-Gonzalez and et.al., 2017). For this report an innovative
business idea of Movable Bakery is considered. It is an innovative business idea because there is
demand of the bakery products in the market in the different areas and thus this business will
help a lot in bridging that gap effectively and efficiently. The name of this Bakery will be Bakery
on Wheels. In this report, detailed focus will be made on the different types of components of a
Business Plan.
MAIN BODY
Rationale for launching the business and its vision and mission-
Bakery on Wheels is an innovative business idea which will include selling of different
types of Bakery Products from a Food Truck (Coulibaly, Erbao and Mekongch, 2018). The
rationale for launching this business that there is a very high-level of demand of the Bakery
Products in the different parts of the city and this business will be very helpful in fulfilling this
demand.
Vision- The vision of Bakery on Wheels is to make sure that it provides good bakery
products in the different areas of the city. It aims to provide good-quality products at a
reasonable price to the customers in the market.
Mission- The mission of Bakery on Wheels is to ensure that the bakery products are
provided according to the different types of needs and requirements of the customers in a highly
effective manner.
Review of the industry and market-
The Food Truck Industry is a very popular industry and here there are different types of
food items which are offered to the customers (Czarniewski, 2016). This industry has a lot of
scope for the different entrepreneurs so that they are able to capture the market and earn higher-
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level of profits. The market which can be targeted by Bakery on Wheels is a very dynamic one
with the presence of both macro and micro variables. These variables are explained as follows-
Macro analysis-
 Higher-level of demand of the customers- In the market the customers have a higher-
level of demand and thus in this way this is a major factor which is a major factor
concerning Bakery on Wheels.
 Higher-level of profitability- The market has different customers and thus in this way
this particular segment can offer higher-level of profits to the businesses operating under
it. Thus in this way Bakery on Wheels will be able to earn more profits without facing
problems and issues.
Micro analysis-
 Convenience for the customers- The customers nowadays want greater convenience for
themselves and thus are looking towards getting the bakery products for themselves at
their doorstep (Edoho, 2016). Bakery on Wheels will provide this service and thus in this
way will create an advantage for the customers.
 Taste of the customers- The customers have a changing taste and thus like new products
to be provided to them (Faghih, 2019). Thus in this way Bakery on Wheels will be able to
provide good bakery products according to the changing taste of the customers thereby
ensuring their higher-level of satisfaction which will contribute towards the growth of the
business in a highly effective manner. This will be quite helpful for the businesses in
meeting out the goals and objectives.
Competitor analysis-
Sunflour Bakery- This bakery is located at 263, Caledonian Road, London N1 1EE, United
Kingdom. It provides high-quality of bakery products to the different types of customers in the
market. The bakery provides these particular products according to the demand level of the
customers which will be quite helpful in ensuring that the goals and objectives of the business
can be attained.
Dunn's Bakery- This bakery is located at 6, The Broadway, Crouch End, London N8 9SN,
London, United Kingdom. It also provides the customers with high-quality of bakery products an
thus ensures that they are satisfied with the products which are being offered. Thus in this way it
is able to meet out the different types of needs and requirements of the customers.
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