Entrepreneurship: Opening a Niche Food Venture during COVID-19

ENTREPRENEURSHIP

EXECUTIVE SUMMARY
Entrepreneurship refers to a setting up of business operations by taking financial risk to
generate profitable results. In this a person who is working in a bank over last 10 years but due to
COVID 19 employees are losing their job. At this time an employee of that bank wants to
become an entrepreneur by opening a niche venturesthat is highly beneficial during the pandemic
situation(Yang and Han, 2021) . In this that employee focuses on indulging in food industry by
opening a food restaurant named “Hiet food” that sales organic juices and healthy diet food and
meals with junk food touch within food truck so that customers get the delivery at their doorstep.
In COVID 19 people are more diet and health conscious that helps in encouraging profits of
business within pandemic situation. This business will reflects an amount of £ 100,000 that is
generated from their saving, by taking loan from bank. It is a small amount because entrepreneur
does not have much capital to invest due to this that person opens a niche venture that also fulfill
COVID 19 challenge. This report demonstrates market opportunity along with details of business
and locations so that large base of customers is attracted towards it. Further it represents market
analysis, products and service description along with USP and competitor analysis so that it is
easy for entrepreneur to attract customers. This report present risk and contingency plan, sales
and marketing strategy, management team, finance and funding plans that helps in easily operate
business in pandemic situation.

Table of Contents
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
BUSINESS DETAILS.................................................................................................................................4
LOCATIONS..............................................................................................................................................5
MARKET/INDUSTRY ANALYSIS...........................................................................................................5
PRODUCT/ SERVICE ANALYSIS...........................................................................................................6
USP AND COMPETITOR ANALYSIS.....................................................................................................7
OPERATION PLAN...................................................................................................................................8
RISK AND CONTINGENCY PLAN.........................................................................................................9
SALES AND MARKETING STRATEGY.................................................................................................9
FINANCE AND FUNDING PLANS........................................................................................................10
MANAGEMENT TEAM..........................................................................................................................10
CONCLUSION.........................................................................................................................................11
REFERENCES..........................................................................................................................................12

INTRODUCTION
Entrepreneurship defines as an act of creating business to generate or earn high profits
and revenues(Sharma, Talan and Jain, 2020). This report is based on an entrepreneur who wants
to open a firm to help customers and place at the time of COVID 19. This opportunity is raise
from entrepreneur job that is loss due to COVID 19 broke. An entrepreneur opens a food
restaurant that is “Hiet Food” in this organic dietary and healthy food is to be delivered to
customer on their doorsteps within particular market in London, UK to provide benefits to
customers and earn high profitable results within the period of 1 year. To effectively understand
an entrepreneur business venture, this report demonstrate a business plan that includes business
details, location, market and product analysis, competitors analysis, operation plan, financial
analysis, risk and contingency plan, management plan that helps in effectively open a niche
venture in market and gain profitable results.
BUSINESS DETAILS
An entrepreneur has involved in food industry to help people within situation of COVID
19. For this an individual person opens a food restaurant in London, UK in 2020. Therefore to
help the local people of London, food restaurant focus on quality of items that they offered to
customers along with services of delivering food to customers with full hygiene and safety. It is
very essential to follow safety and health measures because of pandemic attack in world(Carretta
and et. al., 2020). It helps restaurant to enhance their profits and revenues so that they invest
further in their business to become a leading company in UK. In this an entrepreneur need to
focus on several recipes for organic whipped cream sauce pizza with lots of nutrients and
vitamins along with dessert of dark organic chocolate with flavor of paan-jeer that is highly
effective for people and also helps in developing immunity at COVID 19 time. These products
are sold by using food truck in which local customers order food via official website of “Hite
food” without coming out from their home. The specialty of this food restaurant is organic sauce
pizza, fresh veggie baked balls with organic rose and cranberry sauce that is highly effective to
boost immunity of a person at the time of COVID 19 without losing taste. This helps in attracting
customers in pandemic situation. to operate this business entrepreneur need £ 100,000 that is
raised from entrepreneur saving, taking bank loan.