Entrepreneurship Development: A Comprehensive Study

This document provides a comprehensive study on entrepreneurship development. It covers topics such as customer value proposition, business canvas model, C level specialist- CEO, and financial and financing plan. The document also includes a case study on launching a vegetarian food outlet.

Entrepreneurship
Development

Table of Contents
INTRODUCTION ..........................................................................................................................3
Customer value proposition canvas.................................................................................................3
Business Canvas Model...................................................................................................................6
C level specialist- CEO (Chief Executive Officer)..........................................................................9
Financial and Financing Plan.........................................................................................................10
Summary........................................................................................................................................11
CONCLUSION..............................................................................................................................11
........................................................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Entrepreneur can be referred to as a person who is responsible for setup of a new venture
by undertaking risks and cherishing the gains (Biryukov and et. al., 2015). They are regarded as
the ones who hold the responsibility to organise, run and manage the activities of business.
Before starting a business, entrepreneurs research the market and find out social and economic
issues that possess the potential to be addressed as well as resolved. It is then that the
entrepreneur undergoes critical thinking to come up with potential solutions that can take into
account such issues and assist in resolving them in an effective manner. This leads to the
development of entrepreneurial venture with a view to ensure the welfare and well being of
people. In this regard, entrepreneurship development can be identified as the procedure of
improvising the skill set and existing knowledge base of entrepreneur through training and
classroom programmes (Mohamed and et. al., 2012). The basic reason behind facilitation this is
that entrepreneurship is a concept that provides boost to the overall economy of a nation.
The following project is conducted to gain comprehensibility of the various aspects
associated with development of a venture. The idea that has been proposed by the entrepreneur is
launching a vegetarian food outlet that would not be providing any kind of unhealthy or junk
food. It would be started under the name of “Vegan Protein Restaurant – Healthy Life.” This
venture is being developed to resolve the issues faced by society that are restricting it from
sustaining a healthy life. These issues are regarded to be obese, diabetes and other health
problems that are linked to consumption of unhealthy food materials. 28.7% individuals within
the confines of England are affected by Obese whereas a total of 35.6% are found to be
overweight. Furthermore, rise in veganism can become a thriving opportunity for business.
According to The Guardian (2018) in 2016 the number of vegans has reached more than 3.5
million – 5% of the population. As per the survey, the number of vegan in UK is set to skyrocket
by 327% by 2020. People are shifting from unhealthy to a healthy lifestyle and are usually in
search of such food options, which are high quality plant based food. Health food, in the broadest
sense, has become a viable, mainstream marketing point rather than just a niche market, and
vegan protein sources are a key example of this. In this relation, it can be inferred that the
proposed idea will provide customers with a scope to enhance their eating habits and thereby
establish a healthy lifestyle. To attain significant rate of return and adequate cash flows, the new

venture would appeal to various customer segments ranging from Asian, East European, and
Chinese to Britons.
Customer value proposition canvas
Customer Value Proposition Canvas can be referred to as an effectual tool that is
undertaken into use by entrepreneurs across the globe in order to make sure that the offering of
the new venture are effectively positioned among the people. This helps the venture to address
and meet their needs in a timely manner (Movahedi and Yaghoubi-Farani, 2012). In other
words, it can be stipulated that this is a model, which provides assistance to startups in appealing
to customers in an effective manner by offering them products, and services that have the
capability to disrupt the market place and fulfill the growing needs of people. It is categorized
into 2 sections, namely, customer and product. The product section consists of elements such as
products and services, gain creators and pain relievers. On the other hand, it is recognised that
customer section of this model is composed of elements such as gains, pains and customer jobs.
Now, it is inferred that Vegan Protein Restaurant – Healthy Life would be in market
place in future course of time and thus it becomes essential for the entrepreneur to make use of
this model to identify the key attractions and shortcomings of the venture. This would aid the
entity in ensuring that their eatery offerings are extensively placed among the customers to
inflate their gains and incomes. Looking on this, Vegan Protein Restaurant – Healthy Life is
making use of Value Proposition Canvas to ensure that the venture is able to establish an
extensive brand image at market place.

Figure 1: Value Proposition Canvas
(Source: Value Proposition Canvas, 2019)
Element Description
Product:
Gain Creators
Pain Relievers
 Cost effectiveness
 Warm and pleasant ambience of restaurant
 High quality services provided in the premises
 Quality as well as quantity of vegan items
 Organic vegan items
 Home grown vegetables only
Value:
 Wide array of vegan as well as gluten free meals
 Cost effective
Location:

Products as
well as Services
 Center of London
Target Segment:
 People belonging to 20 to 50 years age group
Customer
Gains
Pains
Customer Jobs
 Provision of food items at affordable prices
 Wide array of vegan items for customers to choose
from.
 Good taste
 Inability to meet the expected taste of order
 Time gap in making the order reach to customers
 Functional: Healthy food items
 Social: Provision of opportunity to socialize with peers,
acquaintances and family members
 Emotional: Enjoying a peaceful and soothing
restaurant atmosphere
Business Canvas Model
A. Osterwalder developed business canvas model (Naudé, 2014). The framework was
initially developed for providing an outline to the business start up’s and gives an idea to the
entrepreneur about work in effective manner. The proposed business plan will effectively offer
vegan meals to its customers. Food offered in this restaurant will include plant based nutrient and
protein that will support its consumers in living a healthy lifestyle. On the basis of current chosen
business concept of Vegan Protein Restaurant- Healthy Life, its business owner has developed
effective business canvas model that consists of total 9 elements. This is aimed at meeting the
competition from top notch companies within the same sector such as “Wulf & Lamb”, “Tibits”,
“Mildred’s Soho”, “Team + Glory”. Effective business canvas model for proposed business plan
is described as below:
Key partner
 Owners
 Suppliers
Key activities
 Supplying healthy food
Value proposition
 WIFI available
technology

 Investors available in the
restaurant
 Order online
collected at the
arrival
Customer relationship
 Personal
 Self service
Key resources
 Professional staff
 High level of products
 High level of customer
services
Revenue stream
 Income from
selling- £8 per
meal.
 Take away- £10
per box
 Income from
online orders- £8
per box
Distribution channel
 Facebook
 Twitter
 Instagram Trip Advisors
Cost structure
 Fixed cost rent - £2,917
p.m.
 Bills - £ 500 p.m.
 Refurbishment - £
15,000.
 Advertisement - £ 3 per
customer
 Variable: Wage,
supplier, software,
development – 10,000
Customer segment
 Residential
customers in
central of London.
 People who are
developing their
activities in central
of London
 People concern
about health
On the basis of above described all elements of business canvas model in context of the
Vegan Protein Restaurant- Healthy Life, it can be said that business the overall business idea is

good and profitable for the owner. This can be well understood with the help of explanation
provided on each and every below one after another:
Key partners: The main key partners for the proposed business plan of Vegan Protein
Restaurant- Healthy Life will be owners (Mr. Smith), investors (Mr. John) and supplier (Mr.
Harry). Owner and investors will invest in the business idea and share its profits as well as loss
according to the investment placed. On the other hand, supplier will work as the supporter for
this business idea as it helps them out in executing all of their business activities effectively.
Suppliers will also provide all required material to the staff of restaurant who will further use it
for preparing healthy dishes for the same.
Key activities: The main key activities of Vegan Protein Restaurant- Healthy Life will be
supplying healthy food to its customers within the restaurant as well as at their home also. For
providing healthy food main focus of restaurant is on delivering all services to customers on time
with higher quality (Terziev, Arabska and Nichev, 2018).
Value prepositions: This element refers to the services which provide value to its
customers and attract them towards restaurant for longer period of time. Value proposition for
Vegan Protein Restaurant- Healthy Life includes availability of WIFI facility for customers
within the restaurant. Along with this, the customers can also place order on online basis and can
further collect their proposed food at the time of arrival. This directly saves time of customers
and creates value for them as they are receiving best services to customers.
Customer relationships: Relationship with the customers in Vegan Protein Restaurant-
Healthy Life will develop by maintaining personal relationship with them effectively. For this,
the staff of restaurant interacts with the customers at the time of arrival in order to develop their
relationship with them. Also, food will be served to customers in self service manner which will
directly reduce the chances of confusion and also save time of restaurant staff.
Key resources: This element is termed as the effective resource that supports business
owners i developing effective demand of restaurant among customers. The main key resources
for Vegan Protein Restaurant- Healthy Life are its professional staffs, Effective customer’s
services and high quality of food items. Professional staff of Vegan Protein Restaurant- Healthy
Life are well trained and know how to influence customers interest while their interaction
(Camp, 2015). These staff members also ensures that each every food product offered to

customer is of high quality that enhances satisfaction level of customers as they are getting better
services from Vegan Protein Restaurant- Healthy Life.
Revenue stream: The Vegan Protein Restaurant- Healthy Life will generate revenues
from different streams like in house selling, take away and online orders. The owner has
finalized cost from each stream on basis of quantity that is in house selling of each item will
generate approximate £8 per meal, take away will generate income of £8 per box and online
order will bring income of £8 per box.
Distribution channel: Promotions for Vegan Protein Restaurant- Healthy Life will be
done through social media channels like Facebook, Twitter, Instagram etc. All of them will
support business manager in teaching to the higher range of customers which will further
generate effective business for them.
Cost Structure: The proposed business plan will require huge capital that will be further
spent on different areas like fixed cost rent- £2,917 p.m, bills- £ 500 p.m, refurbishment - £
15,000, advertisement- £3 per customer, and various variable areas like wages, software
development, suppliers- £ 10,000 etc.
Customer segments: Targeted customer zone for Vegan Protein Restaurant- Healthy
Life are localize residential of central of London, business people who are establishing their
business in Central of London and the main one health conscious people who are concerned
about their health and also focuses on the ingredient of the food which they are consuming at
regular basis (Fortunato and Alter, 2015).
C level specialist- CEO (Chief Executive Officer)
Chief executive officer is termed as a strong position in business associations, which is
directly accountable for the failure or success of every business plan (Kansiime and et. al., 2018).
The individual is accountable for the performance of whole organisation in terms of every
departments, functions and activities. The one and common responsibility for Chief executive
officer in business enterprise is to align all organisational activities in such a manner that leads to
higher returns for the company.
With reference to the current chosen business concept for Vegan Protein Restaurant-
Healthy Life, CEO of this restaurant will be responsible for managing all business oriented
activities of the restaurant in London. CEO of the restaurant is highly qualified and has expertise
in his own stream. This person also has deep knowledge on the other functions of the restaurant

which are being performed by other department heads (Khazaeli and et. al., 2018). This deep
knowledge helps CEO in providing other suggestions and advises to respective department
which works as the supportive factor for them as according to this they can easily enhance their
performance. In order to check efficiency of each department CEO of Vegan Protein Restaurant-
Healthy Life prefers to track activities of all departments like finance, marketing, human
resource, technological etc. at regular basis. This tracking allows CEO in developing their
knowledge effectiveness of each department that whether they are performing in the expected
manner or not.
Constant based tracking also aware CEO about the emerging needs and requirements of
every department along with the problems which are faced by them. In order to develop
understanding on these problems and issues, CEO prefers to conduct regular based meeting
sessions for employees as well as department heads. In these meeting sessions it is compulsory
for all to participate as in the meeting CEO personally provides chance to every individual to
share their own experience whether it is positive or negative with the company. Here, employees
are completely free to express their views in front of everyone (Kurowska-Pysz, 2016). During
the meeting all the issues that come in front of everyone are discussed in deep manner and later
CEO and other heads provides their suggestions to overcome in best possible manner. This
completely provides effective way to individuals to improve their performance according to the
received advises and suggestion.
Apart from this CEO of the Vegan Protein Restaurant- Healthy Life also motivates best
performer and hard worker employees in this meeting session that ultimately motivates them at
higher extent. Also, CEO of Vegan Protein Restaurant- Healthy Life also ensures that each and
every employee is safe in restaurant premises and gets healthier environment so that they can
work with their complete efforts (Leonidou and et. al., 2018). Strong and supportive working
environment works as the motivational factors for employees which makes them work freely.
This ultimately improves their performance and helps them in attaining their respective long
term as well as short term goals in quicker manner.
Financial and Financing Plan
Financial planning of this restaurant takes into account 6 main facets, namely, initial
investment, cost analysis, revenue estimation and so on (Sekliuckiene and Kisielius, 2015).
Hereby, to execute this business plan, the entrepreneur will invest a total of 15000 pounds. Such

funds would be duly allotted to the concerned departments in accordance with their monetary
and resource needs and requirements. This would provide assistance in ensuring that the setup of
new venture takes place effectively within the market place and also that its operations are
executed as per the expectations of the entrepreneur.
Cash Flow Budget
Cash Flow budget Year
Particulars 2020 2021 2022
Cash inflows
Investment 75500
Credit Sale 45500 110000 125000
Total inflows 111000 110000 125000
Cash outflows
Fixed: Rent & Electricity 63000 52000 46000
Variable: Direct materials 25000 23000 26000
Total outflows 88000 75000 72000
Net cash flows 23000 35000 53000
Summary
The above presented project takes into account Vegan Protein Restaurant- Healthy Life as
the topic of discussion. This is a healthy restaurant venture that would be soon out in market
place. It is based on a unique idea that it would only serve vegetarian protein items. This would
be done looking upon the constantly deteriorating health lifestyles of people belonging to target
market. Today, most of the individuals frequently not want to visit eateries since they feel that
they would intake something unhealthy in the wake of giving in to their temptations. Likewise,
the particular segment additionally accepts that they get affected by diabetes or obese as a result
of wrong consumption habits. Thus, the idea would appeal to all such individuals and facilitate
them to visit the outlet of Vegan Protein Restaurant- Healthy Life so as to savor the tastes and
quick service delivery of management. This would inflate the scope for the entrepreneurial

venture to attain growth and success in near course of time. Such restaurant operations would be
able to retain customers for a long period of time by providing them with vegetarian dishes that
are gluten free and made with organic materials and home-grown vegetables. This strategy is
relied on to create higher income for the venture sooner rather than later as Vegan Protein
Restaurant- Healthy Life is offering exceptional and innovative products and services to clients
in a proficient way.
CONCLUSION
As per the above-stipulated report, it can be inferred that an entrepreneur is the person
who engages in analysis of external environment with a view to identify such issues that have
been pestering the society as a whole. Thus, they come up with solution to one of the issues
faced by people and develop a whole new venture around it. In addition to this, usage of
Business Canvas Model is helpful for the new start-ups as it works as the guidance model for
entrepreneur that aware them about each and every supportive factor for them. In this regard,
CEO has a prime role to play which is identified to be the person who is responsible for aligning
the work of each and every employee in a common direction such that it results in attainment of
business goal and objective within due course of time.

REFERENCES
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