Entrepreneurship and Small Business Ventures

Added on - Dec 2020

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Entrepreneurship andSmall Business Ventures
Table of ContentsASSESSMENT 1 BUSINESS PLAN..............................................................................................1Executive summary.....................................................................................................................1Marketing plan............................................................................................................................3Financial plan...............................................................................................................................5Operational plan..........................................................................................................................6ASSESSMENT 2 INDIVIDUAL ESSAY.....................................................................................8Personal reflection and evaluation of the experience..................................................................8REFERENCES..............................................................................................................................13
ASSESSMENT 1 BUSINESS PLANExecutive summaryIn this plan it has been described about OnFood that provide online home delivery of food.The objectives of business has been mentioned which is divided into different terms. Also,PESTEL analysis is been done. In marketing plan STP, SWOT, marketing mix of start up hasbeen explained. Moreover, in financial plan it has been described that how much budget isrequired in marketing, developing services, etc. In last operation plan is been developed thatwhat OnFood operations are, how services will be provided, what processes are followed, etc.A business plan refers to starting a new business in order to provide something new tosociety. It can be in either in terms of product or service. There are many elements included inbusiness plan on basis of which planning is done.A business named as OnFood is been started in UK which provide online delivery offood items to people. It offers customer to get home delivery of food. The people can order frommobile App. It will follow a specific process through which delivery is done. The start up willcollaborate with different restaurants and hotels. For using app, individual will have to registerthemselves. All details will be obtained and then order is placed. The stakeholder involved in itare customers, employees, etc. There will be proper rules and regulations developed that isfollowed in security of data, restaurant collaboration, etc. The main objective of business is tobecome first online food delivery start up with almost 10000 customers. But that objectives arefurther broken down into three which are as follows :-Short termTo provide online fast food delivery to studentsTo offer discounts to new customers and retain them.Medium termTo collaborate with more than 100 restaurants and pubs in UK.To provide almost 1000 membership to people.Long termTo acquire small pubs and restaurantsStart up loanIn order to start this business capital is required so it will be obtained by taking loan frombank. But in this the proportion will be 30% will be investment made and rest 70% is loan taken.1
Through this, enough capital is generated which can be useful in attaining short term goal.However, in initial stage only fast food will be delivered so that sales and profits are generated.Now, those profits will be used to provide membership to people. In this way medium termobjectives are accomplished.PESTELPolitical –It refers to change in political situation of country. The separation of UK from EU,change in government and its policies, etc are certain political factors that will influence incarrying out of the operations in an effective way (Eric, 2013).This is because here trade andtariff rules will be changed. So, many outside restaurants operating in UK may not collaborate.Thus, it will impact on growth of OnFood in long term.Economical –It is related to economic condition, inflation rate, currency rate, etc.are certainfactors that will influence the overall operations of start up (Cong, 2015).Therefore, any changein all these highly impact on growth of start ups. Due to Brexit UK economic condition will beaffected. Thus, it will also highly impact on growth and development of OnFood. Manyrestaurants will not earn profits and shut down. Thus, it will also impact on OnFood sales andprofits.Social –It is related to demographic and cultural factors that define people needs and wants,change in taste and preference of society (Amato and et.al, 2017). So, change in these factorsforces company to develop new products and services. However, if there occurs any change itwill affect on buying behaviour, product choice, usage, etc. of people. Thus, it can enablecustomer to avoid using OnFood in ordering food.Technological –It is related to advancement in technology. Any advancement or upgrade intechnology affects business operations and its processes. UK is a developed country so peopleuse advance technology (Revedin and et.al, 2015). Therefore, any emergence of new technologywill negatively impact OnFood services. They need to upgrade their tools and equipments,software and applications used in order to offer services. Also, new policies and guidelines haveto be formulated. It will highly affect their operations.Environmental –It includes laws and regulations related to environment protection. Anychange in laws restricts companies to modify their operations. Similarly, if brexit occurs it willimpact on OnFood as they will have to change their environment related laws. Besides this, itmight restrict them to use plastics containers or any other harmful materials in storing of food. In2
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