Entrepreneurship: Business Planning for a New Venture Company

This report discusses the concept of business planning for a new venture company in entrepreneurship, using the example of Daddy's Bakery in the UK. It covers the business strategy, legal structure, operations, marketing strategies, finance allocation, revenue model, and internal factors such as SWOT analysis. No specific subject, course code, course name, college or university is mentioned.

Entrepreneurship

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Overview of the business.............................................................................................................3
Business Strategy.........................................................................................................................4
Legal Structure.............................................................................................................................5
Operations....................................................................................................................................5
Marketing strategies.....................................................................................................................6
Finance Allocation.......................................................................................................................7
Revenue model.............................................................................................................................8
Internal factors.............................................................................................................................8
External analysis..........................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship is regarded to be one of the finest creative that is brought about by an
extraction of definite value that will give rise to different business ideas. In this present business
world it is essential to create an impact with respect to the processes as well as the settings that
are related to goods services and other business procedures (Aldrich, 2017). Entrepreneurial
processes are immersive and dark also individualistic such that the perspective that are brought
forth with respect to the approaches would eventually bring about employment into existence.
This requires resources as well as the economic conditions to be perfectly analysed and
information that is in regard to the entire organization to be established will also have to be
processed in the perfect manner. The report will illustrate the concept of business planning of a
new venture company after the Covid19 period. The organization named Daddy's Bakery
starting their fresh business at the online platform at the United Kingdom where they mainly
supply the baked food items. Along with this, the report will demonstrate the entire business
strategy including its operation, legal structures, marketing and finance.
MAIN BODY
Overview of the business
In general, an occupation requires many strategies and theories to develop their business
effectively. The company Daddy's bakery wants to develop their business via online platform
which required different business functions and operation to be implemented. A business is
consisted of different components which are essentially needed to exhibit to obtain a better and
effective growth. All the sub-sector and function of business are interrelated to each other and
play a vital part in an occupation. Business functions include the operation, marketing of the
products, finance or budgeting system, and most importantly legal advices to be followed. It is
basically known that when an individual starts a business or an organization they have to deal
with all these functions and structure to meet their aim and objectives. Accordingly, as the
mentioned company Daddy's bakery have taken a new business operation through the online
market platform they should require to understand the different strategies and theories to develop
their organization at successful level. Here, performing an accurate business plan from which
Daddy's Bakery organization can lead to successful position.

Business Strategy
In the field of management or business organization, they need to form and create a strategy
from which they can be able to improve their business growth and development. In other words,
it can be said as an accurate planning and creativity which can enable the company's growth and
also enhance the consumer sale which results into growth and development. In the context of
business strategy an organization Daddy's Bakery also requires to increase their growth and
development which needs an accurate planning and strategies. Here, performing some strategy
which can help the company to grow.
Highlight new products : In any e-commerce business, an individual should know and
understand the strategy to display the products and items. Highlighting the new products will
exhibit and approach the attention of the potential consumer, and they can easily purchase the
goods (Doern, Williams and Vorley, 2019). A company Daddy's bakery have to display their
new handmade cookies and baking items at the bottom of their website by highlighting them
with some good content and approach. The company can exhibit their new items on the
homepage screen and also they can promote their products for limited standard only which will
create an immediate and craze of purchase.
Offer discounts :It is known that an individual or consumer wants and desire to get the product
at the lower price from its existing values. Mostly women have a craze and desire to purchase
any item they firstly approach for the sale and discounted goods. Daddy's Bakery also can utilize
this strategy by offering their consumer multiple and heavy discounts so that they can approach
and attract maximum customer to buy their products. They can provide some coupons from
where they can get 40% off on your first three orders or it can be login into the company website
they can receive the 60% on your maximum purchase.
Payment options :Nowadays, in this rapid growing technology world every organization have to
provide multiple payment option from which a consumer can feel comfortable to purchase
(Wadhwani and et.al., 2020). Most of t eh organization do not accept the online payment modes
which sometimes create a risk of losing the consumer. T5he company Daddy's Bakery also
should utilize and provide the different and various payment methods such as Paytm, google pay,
multiple card and such more. Offering the multiple payment modes will bring a convenience to
the consumer and can be able to but their desires and needs.

Legal Structure
In e-commerce business, a company requires to follow the legal structure so that they can be
called as trust worthy organization. Legal structure contains the policies and laws which are
essentially needed to followed by the organization. These structure includes the consumer
benefits and appropriate regulation from which company can be able to develop and grow and
provide a legal activity to their consumerism. These laws can be applied on the product
distribution, payment sectors, product quality and even trade practices.
LLP Registration : The LLP registration of the Daddy's bakeries enables the business to make
change in the business at the online platform. This registration provides the complete ownership
of the business to the owner and the owner is liable to make changes in the business at the online
level.
Legal Documents : The legal documents are the proof in written that determines that the
business can come into existence (Chowdhury and et.al., 2019). For the chosen organization, the
legal documents that has been considered as important are, licensing, transactional agreement,
copyright agreement for creating the online website and incorporations document. These
documents are the proof that the business can be started at online platform without any barrier.
Operations
Operation management refers arrangement of the products and services which includes the
supply chain management, picking and packing, shipping structure and consumer service.
Operation management is important and necessary for the e-commerce or online store which
engage the entire activities from manufacturing to sales (Drobyazko and et.al., 2019). The
operations determine the main activities of the business. The operation element is concerned with
the generation of revenue for the business. Here are the main operational functions for the
Daddy's bakery:
Design and development of the products- The Daddy's bakery ensures the delicious food to their
customers. The business has decided to design and develop the product at the selected location.
As the business will perform its activities at the online platform. Therefore, there is no
requirement of investing in the manufacturing unit. The production of the food is done in the
house according to the demand of the customers.
Resource allocation- The raw materials that are required for the Daddy's bakery products are the
dough, cream flavours, milk, oven and so on. The raw materials that are required in order to

prepare the cake and pastries has been considered as the resources for the Daddy's bakery. The
resources will not be allocated in bulk as these raw materials need to be fresh in order to make
food. Therefore, the resources will be allocated on the basis of the demand of the customers.
Different suppliers will be approached by the firm in order to have the immediate supply.
Method of production- The business will use the electronic items in order to ensure fast delivery
of the products. It clearly specifies that the technology has been sued in order to make the
delicious food products.
Orders- The online order has to be taken for the products as the business is established at the
online platform. The major benefit to the customer that has been given is that the order will be
given at the mention time. This has been considered as the operational activity for the Daddy's
bakery. As it ensures the satisfaction of the customers.
Marketing strategies
Marketing refers to using the marketing strategies in order to develop the business. Currently, the
marketing plays the important role in the growth and success of the business (Malecki, 2018).
Whether the business is running on a small scale or long scale the marketing plays the important
role in increasing the effectiveness of the business. As the Daddy's bakery is the new business
and the business is established at the online platform. Therefore, the effective marketing
strategies of the business will help in developing the business. Here are the 4ps of marketing that
has been adopted by the daddy's bakery in order to grow.
Product- This refers to the type of product that has been developed by the business as the chosen
business is bakery therefore, the products that has been produced by the business are cakes,
cookies, biscuits and pastries. All the products that will be developed by the firm ensures the
taste and deliciousness to the customers. The packaging of the products will contain the complete
information regarding the ingredients that has been used in the products. As it ensures the
satisfaction of the customers (Yuan and et.al., 2020). The consumers highly seeks the
information on the packaging as it affects their health. Therefore, in order to full-fill the
satisfaction level of the consumer, the packaging will contain the complete information.
Price- This refers to that value that has been exchanged for the product (Tarafdar, Beath and
Ross, 2019). This element has the effective power of attracting and distracting the customers. As
daddy's bakery is new business therefore setting high prices will distract the buyers from trying
the products of the firm. Therefore, initially the prices that has been set for the products will be

low. The even the delivery charges will not be charge for the customers. No extra cost has been
charged from the customer. As a result, this marketing strategy leads to taking the favour of the
consumer towards the daddy's bakery. This leads to earning of more profit.
Place- This involves making product available to the customers (Basin, 2018). The chosen
business will perform its operations at online platform. Therefore, the online delivery system has
been chosen by the firm. As the business is runs on small scale. Therefore, the distribution of the
products will be done at selected area that are near to the locality. The customers will place their
order and the products will be delivered at the mention time. The timely delivery of the product
has been considered as the marketing strategy for the daddy's bakery as it helps in attracting the
consumers.
Promotion- This refers to making customers aware about the products and business as well. In
order to do promote the products of the daddy's bakery. The social media have been used. The
interaction with the customers will be made over the social media. Official page of the bakery is
prepared in order to make interaction with the customers. And the reviews and feedback of the
customers will be taken in consideration.
Finance Allocation
This refers to arranging the fund fir the business. The investment of the business
determines the operations of the business and the operations of the business further determines
the profit of the business (Armour and Sako, 2020). Therefore, it is important to allocate the
capital in order to carry the operations of the business. As daddy's bakery is the start up business
and it will be run on online platform. Therefore, high investment is not required for the business.
So, there is no need to approach the shareholders. The small investment is required in the
business. The small investment will ensure the effective profit in the business. In order to arrange
the cash flow for the business. The firm will approach the bank loan. After the pandemic, the
government of the UK has introduced the loan schemes for the start up of small businesses (Paul
and et.al., 2021). With the help of those loan scheme the capital for the business will be
allocated. Further, the bank has to be approach in order to arrange capital.
The above points determine the different business functions of the daddy's bakery all these
functions are inter-linked with each other. The operation function is depends upon the finance
function (Grubor and Jakša, 2018). As the effective allocation of the fund ensures the efficient
production of bakery items. The operation function is further depends upon the marketing

strategies. The marketing strategies gains the attention of the consumers this leads to more
demand of product by the customers. As a result, the operations of the daddy's bakery will be
increases. More operation requires more finance. All these functions are inter-linked and ensures
the growth of the business.
Revenue model
This refers to tat model that shows the revenue generation of the business. There are various
kinds of revenue models but for the daddy's bakery the revenue model that has been chosen is Ad
based revenue model. This model has been considered as the best revenue model for the online
businesses (Ištvanić and et.al., 2017). Under this model, the customer demand for the product
and the goods has been delivered to the consumers and the online mode of payment has been
given to the customers. The customers place the order and makes the online payment. The
daddy's bakery will accept the online payments and delivers the food products to the customers.
Internal factors
SWOT analysis: the internal factors of the organisation are being analysed with respect to the
swot analysis.
Strength: The organization delivery was able to deal with various channels across the different
countries and therefore this has become one of these Trends for the organization. There is a
strong growth that is associated with market share in United Kingdom and that has been one of
the potential strength for the company.
Weakness: there is a probability for the company in order to report a profits as well as the losses
that are oriented. The weakness that is being dealt by the organisation is also the pandemic
situation where it has lost most of its employment (Felin and et.al., 2019). This has been one of
the concern where it will have to deal with the efficient delivery people that are there in the
organisation.
Opportunities: there are a lot more opportunities in order to move ahead with the improvement
policies and also deal with global expansion with respect to the organisation. The subscription-
based ordering is one of the profitable entity that will gain more opportunities in future.
Threats: there has been a lot of thread that is identified with respect to the organisation delivery.
Since the market has got many food delivery services there seems to be a heavy competition
which is prevailing. The difficulty in operations and cost management will also be one of the

biggest threat for the organisation to analyse. The market is very competitive and therefore there
will be a low switching cost that is associated.
External analysis
The PESTEL analysis is one of the tools in order to identify the external factors that are
prevailing with respect to organisational performance.
Political: the organisation has seen and earth with respect to the online for delivering a platform
in united kingdom the government in this regard is also in charge of dealing with this particular
entity. There are certain investigations that are made in order to make sure that the modern
employment practices are beneficial for the entire country and the UK government in this regard
is also encouraging the companies to go in terms of food delivery services by keeping prices
competitive.
Economic: with the Brexit issue there seems to be a hard time that is being faced by the
organization delivery. There is a shrinkage that is being seen in the number of employees that are
there in the organization. The economic prospect is already weekend with respect to the Brexit
issue and the Covid has the take and another U-turn in this regard (Tallaki and Bracci, 2021).
The organization also deals with the import tariffs which was landed in the food supply industry.
Social factors: different social factors and other rules and regulations are falling in regard to the
safety standards of all the people during pandemic. This has been one of the factor that is
associated with the health and prosperity of people during 2020 where it was prevailing.
Technological: there has been a technological implementation with respect to the innovations
that are being oriented with smartphone facility. Ordering and the food takeaway are the major
prospects and therefore in order to get communicated with the organization delivering has
developed an official application that will help people to stay in terms of deriving the means and
services with delivery.
Environmental: the environmental factors of delivery eventually deals with a friendly service
where its aim is to use split of bicycles and scooters (Su and Jin, 2021). There has been an
emphasis over maintaining community guidelines by not damaging the environment. There are
no carbon emissions that are in pursuit of the organization and its operational unit.
Legal factors: the legal practice of delivering will have to deal with the discrimination lawsuits.
This is one of the prominent criteria where the pay and age discrimination will have to be taken

into account and will have to be improved upon. The company will not let its employees to get
into unions and gaining working rights.
CONCLUSION
From the above report it has been concluded that in the start up of new business, there are
various factors that has to be kept focus on. The business development is the broader concept
that involves the different stages such as, operations, marketing, finance, legal structure, internal
analysation, external analysation and so on. These factors contribute in the success of the
business. A start up business needs to have the better understanding in relation of all these
factors as a result, the business touches the higher rate of success. Apart from this, the report
describes that different business functions are inter-linked with each other. The success of the
business depends upon the contribution of different business functions (Fadillah, 2019). The
internal analysation of the business determines the capabilities and weaknesses of the business
and the external analysation of the business defines those factors that affects the business in
different ways. A proper understanding of all the factors helps in making decision in the
business.

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