Entrepreneurship: Starting a Coffee Shop in London

Entrepreneurship

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Business details and location.......................................................................................................3
Analysis of market and industry..................................................................................................3
Product/service description..........................................................................................................4
USP and competitor analysis.......................................................................................................5
Operations plan............................................................................................................................5
Risk and contingency plans.........................................................................................................6
Sales and marketing strategy.......................................................................................................7
Finance and funding plans...........................................................................................................8
Management team to manage operations....................................................................................8
Appendices......................................................................................................................................9
Profit and loss and break even.....................................................................................................9
Sales forecast.............................................................................................................................10
General assumptions..................................................................................................................10
Balance sheet.............................................................................................................................11
Purchase order details................................................................................................................13
Product/service image................................................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Entrepreneurship is a major economy activity which is helpful in generating income for the
owner as well as for whole economy. In the recent times scope of entrepreneurship has increased
due to various opportunities which are provided by business at the marketplace (Abd Ghani, and
et. al., 2017). In this report dimension of entrepreneurship is explained with the context of a new
business plan in order to earn revenue from market. This report also contains a brief analysis of
market in order to increase productivity and efficiency of a particular newly established business.
In this report financial funding is also covered along with necessary financial related aspect in
order to gain competitive advantage at the marketplace. In this report establishment of a coffee
shop in the heart of London city is done in order to attract large number of customers from
marketplace. Name of the coffee shop is Dream cafe where all type of coffees will be served to
customers along with tasty snacks.
MAIN BODY
Business details and location
The Dream cafe will be established at main road in the heart of London city where major
customers come for hangout. Proposed location for business is Oxford Street which is one of
the major areas of London. The business will be established by taking one of the major shops on
rent at lowest possible cost in order to increase overall profit. The timings of the cafe will be
from 8:00 AM to 10:00 PM and on Sunday it will remain closed. Dream cafe will provide world
famous coffees to the customers from all across the globe in order to attract their attention. In
beginning, Dream cafe will offer attractive discount to customers in order to perform
advertisement and publicity of products (Bacon, 2019). The cafe will also provide sample
coffees to the customers for taste in order to attract their attention towards newly established
business. It is also essential to maintain quality of products and services, so the business will hire
a professional quality manager in order to maintain quality of products.
Analysis of market and industry
In order to increase profitability and efficiency of a newly established, it is essential to
analyse market and industry in a precise manner. In order to analyse the current market situation
PEST analysis is performed which is helpful in the development of business. The PEST analysis
for Dream cafe is given below:

 Political factors- The political factors play a major role in deciding current
situation in market as they include role of government. A business has to follow
various rules and regulations which are formulated by government in order to
survive at the marketplace. The Dream cafe will have a favourable market situation
according to the stability of political situation in United Kingdom. This will be help
the business to gain immense growth at the marketplace and it will also increase
revenue of Dream cafe.
 Economic factors- In the functioning of a business, economic factors play a major
role as they decide monetary aspects for a business. Various economic factors like
national income, gross domestic product and monetary policy formulated by
government has a major impact of decisions of a business (Brink, 2018). Dream
cafe has to consider all the major factors which are essential as an economic aspect
for the business in order to gain competitive advantage at the marketplace.
 Social factors- Social factors must be considered by Dream cafe in a precise
manner in order to attract large number people from the society. Different social
factors like living standard of society, culture and social ideology of society play a
major role in deciding the business functioning. It is important for Dream cafe to
analyse major social factors with the help of professional management in order to
satisfy customers from different parts of society.
 Technological factors- In today’s world the influence of information and
technology is there on every business in a precise manner. Most of the businesses
are changing the operations and techniques according to the change in business
with respect to information and technology. Dream cafe should perform all its
major operations and functions while considering information and technology as a
major factor.
Product/service description
It is essential for a newly established business to provide effective products and services to
customers in order to increase revenue and efficiency at the marketplace. Dream cafe will sell
coffee in the heart of London city with effective quality and efficiency. The cafe will provide
major imported coffees from all major countries on the lowest prices to customers. In Dream
cafe, the customers will also get effective snacks which will be delivered in a fresh manner in