Entrepreneurship and Business Development: Herbs Planet Case Study

This report discusses the business concept of Herbs Planet, its feasibility in the industry, market, and finances, value chain, and business model canvas. It also includes a SWOT and PESTEL analysis.

ENTREPRENEUR AND
BUSINESS DEVELOPMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Business concept .........................................................................................................................3
Evaluation of feasibility in the industries, markets, businesses and finances..............................4
Value chain and business model canvas of herbs planet.............................................................7
Designing suitable concept for identifying how potential risk managed.....................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The purpose of this report is that describing roles as starting new business or franchise
and currently my company name is Herb Planet. It is located in UK which falls under category of
primroses, ground ivy, mint, coriander etc. Main aims to provide better facility for people's they
attract towards products by find them more innovative. It is established for purpose of gaining
sustainability growth in environment to attract consumers in order to build productivity in
workplace. Due to people are most conscious about their health we are providing them with
facilities of herbs products that they will use in making their products which are used for eating,
drinking purpose. Furthermore, study will also implement new models, their elements, nature for
executing firm in innovative and creative ways through ideas, thoughts with concern market that
conduct suitable assessment of firm, company's financial feasibility. Determine through value
chain model and business model in context to company by designing quantitative or qualitative
theories to identifying circumstances of inherent that may be managed from this.
MAIN BODY
Business concept
Herbs are being utilised more and more not just in cuisine, as well as in smoothy and tea
production. Generally these are considered to be good sources of aroma, nutrition and the flavour
and look of veggies, soup, sauce and roast are improved. Various herbs are also part of modern
food trends. The Herbs Planet launched a campaign to encourage shoppers to take home fresh
herbs . Herbs Planet plans to provide some fresh imported herbs on the market, which are
unusual for food production.(Bigelow, and Barney, 2021.) The major herbs of the Planet
include basil, mint, wise, coriander, and so on. Ginger and cardamom are the major spices
supplied from India. for any organisation business assessment is not easy. And for start-up
company task of giving an evaluation is especially difficult with less or no revenue or profits
and with fewer potential results. The core of the organisation is business knowledge. Based on
the herbal planet's success in conducting a business online and also in the retail market, the
various legal structures for the business are essential for the creation of a strategy that will be
beneficial on the online platform and where special circumstances are best recognised. Herbs are
a vast, dispersed plant category, excluding nutrient vegetables and other plants with savoury or
fragrant characteristics used in culinary seasoning and adornment, medical reasons or perfumes.
Typical food usage differentiates herbs from spices. Herbs are often referred to as leafy portions

of a planet (either fresh or dried) and greenish or blooming parts, whereas seed, trunk, bases are
normally made and dried from other areas of the tree. Susceptibility to start-up costs and
financial organization, as well as knowledge of the market in which the herbal plan will operate
their business. (Alotiby, and Al-Harbi, 2021.)Nearly every customer has a variety of dried herbs
at homes, which is frequently a chance to explore various combinations. Once done, consumers
will typically use fresh herbs on special events. In the meantime, all-in-one spice blends are
popular among young customers, who does not know exactly how mix all the spices. company
must meet certain food standards that are hygienic and the safety method for the importation of
herbs and spices from outside the nation. The company does not require a medical certification
for importing herbs. The company's main headquarters, which will operate all its operations in
Scotland. Company have two partners who is going to raise funds for the company start-up and
share the profit and loss equally.
Evaluation of feasibility in the industries, markets, businesses and finances.
industry analysis
An industry analysis is an examination of the industry in order to determine a company's market
position. It assists a start-up firm in determining its market position before entering the market. It
also aids new businesses in forecasting corporate demand and supply.
Porter's five forces Michael Porter popularised one of the most well-known frameworks for
industry analysis, known as Porter's Five Forces.
The level of rivalry in the industry: For a variety of factors, including as the adoption of minimal
carriers, entry flexibility, low fixed costs, and low entry barriers, the food sector in the United
Kingdom is very competitive. Because there are so many substitutes and industries accessible,
consumers have a multitude of options for purchasing the goods. competition will be ensured by
the herb planet.
Potential newcomers pose a threat: threat of newcomers in market are always be their because
of the multiple option of funding from banks and private sector for astart a business. For Herbs
Planet, new entrants will have little impact because their primary focus is current companies.
Suppliers' bargaining power: Suppliers have a lot of bargaining power in the food business
since there are so many alternatives available at varying costs on the market. The start-up firm

will make certain that their prices are not excessively high. As a result, that supplier is unable to
bargain.
Buyers' bargaining strength:the buyer's have powers, their tendency to bargain increases
especially the price sensitive customer in food industry bargaining power is high so,(Deekshith,
and et.al, 2021). customer can easily move to the other organisation if they think the prices of the
product are high. That's why herbs planet will minimal their product prices.
Substitute products are a threat: In the food sector, if a firm can keep the average price of its
product stable, it will not lose consumers. In herb enterprises, the number of options is growing.
Even in economic downturns or other adversities, herbs are vital for everyone, and they may still
compete in regards to quality and variety of spices. This may be minimized by concentrating on
consumer preferences.
Analysis in the market
It helps rivals to measure the total interest of the product or service in the industry by the targeted
market costumers in the selected industry.
Swot analysis it's a technique of summarising numerous industrial factors and aid in
establishment of new enterprises
strength: Their primary asset as a food industry firm is the imported items that they import from
outside the country. The firm will have a competent and experienced personnel for herb
requirements and combining the herbs to make them tasty. This is a novel concept of Indian
herbs in the United Kingdom. That is why people will enjoy it.
Weakness: lack of information about the product's specifications, and the company has a limited
budget, therefore they cannot import additional goods. Herbs Planet's competitors have a wealth
of experience, competent staff, and high-quality machinery. As a start-up, Herbs Planet does not
have as much high-quality machinery and equipment, but the firm will work on it as soon as
funds are raised.
Opportunities: Because online purchasing and selling is popular these days, the corporation will
conduct its operations on the internet as well. Fresh herbs are often of poor quality in most
regions. As a result, the firm has come up with innovative concepts to provide the client with a
high-quality, fresh product.
Threat: There are many previously existing firms in the herb industry, and they have a very solid
client base and consumer confidence in the company. If the supply of the product from outside of

the nation is delayed, there is a significant risk to the corporation because it is the major element
on which the company is built.
Pestel analysis
This includes all of the exterior aspects of a company's marketing.
Political: government all over the globe have regulatory frameworks in place for all aspects of
food sector. (Kapyrin, P. A. and et.al, 2021).This includes the product's cleanliness. People are
more concerned about their health, as is the case in the current scenario. This is advantageous for
beginning a herbal company because the many of people trust herbs more than pharmaceuticals.
Economic: Competition pricing, foreign exchange rates, taxation policies etc all impact will be
on herbs planet, because company import goods from outside country.
Social: The herb planet for the younger generation will give many sorts of variations of herbs
for combining to produce an easy manner of creating meals for the young as well as those who
do not know how to utilise the herbs correctly.
Technological: As technology advances, food businesses may reach out to customers in new and
more convenient ways. The firm will offer online grocery that will swiftly deliver fresh products
to clients.
environmental : The firm will continually innovate and strive to decrease its usage of plastic
whenever feasible. In addition, by using lean manufacturing methods and improving logistical
management.
Legal factor: The Food Safety Act 1990 controls the food industry in the United Kingdom.
Certifications are required to enter the market, which includes product labelling and packaging.
The corporation will follow consumer rights regulations, maintain production quality standards,
and consider the rules that are in effect in the nation where it does business.
Financial feasibility analysis Comprehension of the cost structures and levels of investment.
Analyse the calculated performance in industry of similar companies Assess company initial
expenditures and predict sales.
Horizontal and vertical analysis: When a firm employs the horizontal analysis approach,
financial data is examined throughout a series of reporting periods. If a firm employs the vertical
analysis approach, it will be able to analyse financial data in a proportionate manner,(Shaheen,
G., and et.al2021) .where each set of financial statement is represented as a proportion of some
other item. Vertical examination of herbs planet is superior for financial analysis outcomes.

Ratio analysis:Ratios are used to compute the relative size of one number in respect to another.
The firm will compare its ratio to that of its competitors, who are high-performing enterprises in
the food market for an start-up company Examining sales patterns to see if sales are declining
because of specific customers or products or sales regions and examining expenses report claims
for proof of fraudulent claims. Examining expense line items to find out if there are any unusual
expenditures in a reporting period that require further investigation;Forecast revenue and
expense line items into the future for budgeting for estimating future results. With comparison, a
firm will be encouraged to expand its business ambitions.
Trend analysis: in the case of a new business Evaluating sales trends to see whether sales are
falling as a result of certain customers, goods, or sales areas, as well as examining expense report
claims for evidence of fraudulent claims. Examining spending line items to see if there are any
unexpected expenditures in a reporting period that need to be investigated further; Budgeting
requires forecasting income and spending line items into the future in order to estimate future
outcomes.
Value chain and business model canvas of herbs planet
A value chain is a mixture of mechanisms used to generate income by an organization.
The value chain contains several components used in producing goods, (Kapyrin, and et.al,
2021).and this involves the procedure from beginning to end.
Primary activity of herbs planet
Inbound logistics: Herbs Planet will hire buyers to pick the highest quality herbs from growers.
The herbs gain value through the company's patented roasting and packaging, which helps to
improve the sale value.
Operations :The procedures include methods of turning raw materials into completed goods or
services. The firm will have a physical store as well as an online store. The company's aim is to
have herb stores all throughout the country, both physically and online.
Outbound logistics: There will be no intermediary in the industry's product sales. The most of
the goods will be sold through retail outlets. Storage and delivery to retail locations will
essential.
Sales and marketing: The firm will spend more in high-quality items and outstanding customer
service than in promotional campaigns. However, the firm conducts need-based marketing

efforts in the selection of the respondents in the area surrounding the stores during new product
releases.
Services: Through its in-store customer care, the firm hopes to increase client loyalty. Service
training is an important component of the value chain that contributes to the uniqueness of the
company's product.
Secondary activity of herbs planet
Procurement: Procurement connections are notoriously variable. Herbs Planet will manage all
of its own product sourcing, which it regards as one of its competitive advantages.
Human resource management: Employees will be encouraged by excellent perks and incentives
provided by the firm.(Liebrecht, C and et.al, 2021 ). The firm will be renowned for taking care of
its people, which is a significant cause for minimal employee turnover, indicating good human
resource management.
Infrastructure: This comprises departments such as administration, financial, and regulatory,
among others, that will be necessary to maintain the company's stores running. In its corporate
office, the company employs business managers. There will be store managers on that to assist
supervise well enough and appealing stores, which will be complimented by excellent customer
service offered by a committed team of staff.
Technological development: The firm will utilise technology to sell its products online and
communicate with its customers. The company will also establish various platforms where
customers can ask questions and make suggestions, and technology will aid in the
implementation of this input, particularly in the area of its reward programme.
business canvas model outlines the logic behind how a company generates, delivers, and
collects value. Entrepreneurs must create and improve a business model for themselves in order
to get clarity about what they are doing.
Customer segment: company customer segmentation will be of all category of people mainly
families and it considered healthy lifestyle , free from allergy market only pure and natural
product.
value propositions: company will innovate a new ingredient mixing with its product and uses
technological innovation like online store.

revenue streams:- company revenue stream will be from product sales and also further in
exporting the product.
Channels: channels from which company will communicate with their customer is trade shows,
social media marketing, and website.
customer relationships: company will gain customer relation by giving them discount and for
bulk buyers loyalty discount, online discussion, in online store referral discount and product
quality hotline.
key activity: company key activity will be sales and marketing, product research and
development and consumer education about the product and company branding.
key resources: company key resource will be the quality of product and brand, staff of the
company and retail partner and network handling partners.
Key partnership: In this business model the company main activity like funding, importing of
herbs and maintain regulation etc. are maintaining by the both partners. Distribution of goods
and online retailers.
Cost structure: the company main costing is on the product that are importing and staff salaries
and equipment and facilities to them and on regulatory and compliance
Designing suitable concept for identifying how potential risk managed
Quantitative model- It is used for providing ways to comprehensively applying dealing through
which selling of product can take place in each places by determining monetary analysis. That
derive from financial data, describes relationship between elements seen in workplace. This
measured for organization in order to examine approach to achieve growth, also comes to an
attainment of succeeding goals of new establish firm. Concept is measured through numbers,
quantity basis, beliefs etc. from which, determined this theory in order to attain objective of firm
by proper focusing on it. Computable digits can be help in evaluating that how much cost
required for it to measuring this. However, to calculating requires more time and start-up
business had not such period because they already come with new enterprise or business which is
bearing a lot of pressure on them. It accepts concept to come across large size of sampler by
proper researching of this that help them in productive manner. But, major drawback of this is

not visualized on digits which may point out on their communication nature between employees
that is disadvantage for firm.
Qualitative model- This characterizes framework of building that to establish firm it is
important, to ensure quality of product if not provided best herbs than people's are not spent their
money in buying these elements due to which occurs loss in market. It is not measurable because
examine by language, also can say as descriptive data given. Through focusing on people's to
understand about product in verbal manner from continuously form of nature. Helps for giving
good quality of factors to achieve targets of company and to place their position in market.
However, difficult for start-up company's in process of maintaining reputation within
management. (Barros, E. G. D.and et.al 2021).They have to innovate their products to increase
customer by enhancing their profitability to ensure sustainability growth in business.
Furthermore, permit innovation for compelling force driven by firm that determine human
participation, developing an infrastructure which helps business in positive manner. Its
advantages are they provide end to end process from which understanding is established, simply
action are determined through may change attitudes according to that.
Risk can be managed if organization finds at right time by aiming at determining what things
may go in wrong direction, which problem conduct effectively through considering plans to deal
with this. By evaluating circumstances in correct period helps to prepared in productive manner
through achieving objectives of company for which aim business is start. However, also have
problem because of establishing new firm many difficulties has to face. Organization who are
already in market and make their presence its challenging for start-up firm to compete with other
competitors. From examining this approach helps to manage in business for analyzing concept to
build good firm that creates effective profitability in surrounding environment.
It could be operated through identifying issue in accordance to make profitability for business
that is required for them to maintain sustainability by providing good quality of product through
measuring their elements or products which are used. Also, quantitative should be measured to
determine it's in form of numbers related data for solving any circumstances occurred in
workplace.
Through steps, it can be managed that are; determining and analyse issues by conducting team
combine in order to identify risk through which thoughts, views are modified. Also, learn form
other competitors that they do this, from which what problems arisen in their workplace. Second

thing is to do secure group or team of people about role or responsibility which followed by them
because start-up firm has doing this in accordance with come up result, outcome attain its
organizational targets. Lastly, observe on situation that create problems for new business by
doing examine of risk through different analysis which may developed influence on task, cost of
examine inventory are according to need or not. Also, attract customer from which more selling
takes place in their business.
CONCLUSION
It has been summarized from this report, that starting new business has been considered nature,
elements for achieving goals and targets of company by determining their place where it has
been situated. Providing suitable appraisal for firm, workplace through cost feasibility, study also
has been explaining elements that will used for such as value chain theory in context to
company. Furthermore, defining concept of quantifiable and subjective which is used for
managing probable problems in order to overcome this. Herbs Planet make their presence in
market through doing it, more productive manner. It will also justify roles and responsibilities as
firm to perform in organization to compete with other competitors in order to do, so they have
been applied theories whicRabar, D., Rabar, D. and Pavletić, D., 2021. Two-Step Manufacturing
Process Measurement Model Using Qualitative and Quantitative Data—A Case of Newbuilding
Dry-Docking.Journal of Marine Science and Engineering. 9(5). p.464.
Shaheen, G., and et.al2021. Diabetes Mh help them to attain goals and targets of start-up
business. In accordance with, Porter's Value concept is implemented in establishing company
derive sustainability growth in market to achieve aims as firm. From this study entrepreneurship
and business development is characterized by proper implementing strategies accordance to plan.

REFERENCES
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