Entrepreneurship Business Plan for Hollyhocks Floating Restaurant

This report discusses the entrepreneurship business plan for Hollyhocks Floating Restaurant, including proposed future business, customers, competitors, skill analysis, sources of funds, plans for obtaining resources, and management information systems required to effectively control the business.

Enterprise and
Entrepreneurship

Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY..................................................................................................................................2
Proposed Future Business............................................................................................................2
Customers of Hollyhocks floating restaurant..............................................................................2
Competitors of Hollyhocks floating restaurant............................................................................3
Skill analysis................................................................................................................................3
Projected 2-year profit and loss account and proposed 2 years’ cash flow forecasts..................4
Sources of Funds of Hollyhocks floating restaurant....................................................................6
Plans for obtaining your resources, both tangible and intangible between now and either 1-2
year ahead....................................................................................................................................6
The type of organisation and the management information systems required to effectively......7
control the business......................................................................................................................7
Vision of business idea................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
An enterprise is a firm performing certain functions and operations to earn profits.
Entrepreneurship is yet another process or procedure that is for launching as well as designing
and running of a new enterprise, that can be of any size be it small or of a big scale (Azizi and
Mahmoudi, 2019). The person who undertakes all these activities is entrepreneur with the main
motive to earn profit. Business plan on the other hand is a file consisting of documents that have
all the details and information about the future goals and objectives. In this report, Hollyhocks
floating restaurant is serving variety of food items and Italian and all other continental and all
other kinds. This report also discusses about proposed future business, costumers, skills analysis,
competitors and sources of funds in it.
MAIN BODY
Proposed Future Business
The proposed business plan of future is Hollyhocks floating restaurant that offers its
clients with a wide variety of food items like Italian and sea food and other different kinds. With
the help of different services and complementary deserts and its place has its own speciality.
The other important products of Hollyhocks floating restaurant are all different kinds and types
of food. The organisation offers different services to its clients of superior quality with
innovative methods and ways for serving the food to its clients in market. The organisation
provides delicious food and tasty food along with great quality services and clean and safe,
secured environment (Beaumont, Smith and O'Dwyer, 2022). Hollyhocks floating restaurant has also
adopted IPR in the form of trademarks, copyrights, designs of rights and many other.
Customers of Hollyhocks floating restaurant
The customers that is the target audience in the market are the people that love different kinds of
food. The serving of food is done with exceptional services to its clients, who are always
interested to spend quality time with their families and friends and also for the office work are
mostly the target audience of Hollyhocks floating restaurant (Ramsgaard and Blenker, 2021). The
customers are served with great services and delightful and tasty food with clean surroundings in

the environment. For capturing more market share the restaurant needs to advertise as well as
also needs to do promotion of its different food items along with the varieties that it offers to its
target audience of its customers with the help of various promoting modes or channels that are
there as such social media, digitalising as well as offline promoting channels and many other
modes.
Competitors of Hollyhocks floating restaurant
The competitors of a business are known as other business units that sell and offer its
customers and clients with same or identical products and services in the market. The
competitors of Hollyhocks floating restaurant are other business organisations that also offer
same Italian or sea food or other different food items that are being offered (Crammond, 2020).
These competitors are McDonald’s, Subway and KFC and many other competitors are there that
are present in the UK. The young generation in today’s world is highly involved and all
interested in getting new tastes of different and diverse and varied food items as this will also
help Hollyhocks floating restaurant to capture and gain different competitive advantages in the
market over these competitors. The Hollyhocks floating restaurant provides great and superior
quality food products and that too at affordable cost to its clients and customers. Also it is
required to frame and implement different marketing effective strategies for attracting the
customers in the UK market by maintaining customer loyalty in the business organisation.
Skill analysis
Innovation and invention always require different skills as they play an important role in new
business ideas and plans and also in the setting up or launching of new business organizations in
the market. Hollyhocks floating restaurant has great professional and trained employees that are
required in the operating of the organisation (Hassan, 2020). There is a lot of skills that are
required in the invention of different business ideas and also in the new addition of the business
that is Hollyhocks floating restaurant in the market in UK. Skills that are required are as follows:
 Decision making skills are required for taking decisions.
 Time management skills are also required in this restaurant as they require time
management in the making and serving along with other operations and functions.

 Team coordination and cooperation is yet another skill that is required in the operating
functions of Hollyhocks floating restaurant.
To overcome the various skill gap in the restaurant, proper communication along with clear and
open authority in working is also needed. There needs to be clear authority and responsibility in
duties and responsibilities in of all employees of the organization as these will help in the
overcoming of all the skill gap.
Projected 2-year profit and loss account and proposed 2 years’ cash flow forecasts

Sources of Funds of Hollyhocks floating restaurant
In the market there are many sources of funds that can be used by the Hollyhocks floating
restaurant for its business to be incorporated in the UK market. Friends, family, relatives and
other sources are one of the best resources that can help in the achievement of great sources of
funds. Hollyhocks floating restaurant can get its sources and can also raise from the market. The
various funds that can be used by Hollyhocks floating restaurant are personal funds that are
available from family, friends and other known people and also some of the personal savings can
also be used (Ismail, Sawang and Zolin, 2018). Loans and debts yet are other source that can be
raised by the Hollyhocks floating restaurant. Banks and other loans and debts providing
institutions are other sources that can also be used. Crowd funding and business angels are other
sources of funds that can be used along with these different debts and personal savings.
Plans for obtaining your resources, both tangible and intangible between now and either 1-2 year
ahead
There is necessity for Hollyhocks floating restaurant to develop and have and implement
planning for management effectively and efficiency with its resources of the business
organization. Professional operational management will be used in strengthening and also in
management of all business’ tangible and intangible resources. It will then be focusing on all the
important materials suppliers and also in the bargaining that will result in the cost reducing for
the enterprise (Ndou, Mele and Del Vecchio, 2019). The total capital for launching and first sale of
business will be 25000 GBP. And for revenues and profits generation, operations expense and
other anticipated purchases of capital needs to be focused. And total capital for start-up of
Hollyhocks floating restaurant will be 20000 GBP. Key and all other important approaches for
Hollyhocks floating restaurant and using of cash and other resources needs to be focused in a
very effective and efficient method for the business organization. The resources that are tangible
and intangible are important in future growth and development for the business in the market.

The type of organisation and the management information systems required to effectively
control the business
Hollyhocks floating restaurant needs to focus and to grow in an effective manner in a less
time period within the market with the use of the different key and important tools and
techniques that are required in the launching and also in the development of the business. The
practices and techniques based on information technology will be effective in providing
assistance and guidance to the organization (Mei and Symaco, 2022). It is necessary for a new
start-up business to be focusing and concentrating on IR application within the market for the
purpose of setting up and launching and getting success. The following are Hollyhocks floating
restaurant important requirements as following:
 Decision Support system: It is associated and also connected with information and
technology that helps in facilitating in development and growth of business. Hollyhocks
floating restaurant’s decision making will be assisted. Organisation has a major role as it
needs to concentrate on decision support system within work to take significant
decisions.
 Management Information System: It is another important approach facilitating
business in best practices and services to be delivered. Hollyhocks floating restaurant
needs to take support and guidance of this system for enhancement of coordination and
cooperation between the employees. It helps in assisting a new business in creating a
great and positive environment within the business organisation.
 Customer Relationship Management System: It is another approach that helps an
organisation in concentrating and focusing on development of business. This system is
effective and efficient software that gives assistance and guidance to Hollyhocks floating
restaurant by maintaining and building strong relationship with customers.
Vision of business idea
The future vision of Hollyhocks floating restaurant is to provide its customers with
impressive services and greatly improved quality services. It wants to give very clean and safe
environment and surroundings with delicious and delightful, tasty food items to its customers
and clients.

CONCLUSION
It can be concluded from the above report that Hollyhocks floating restaurant is launching its
business in UK market. This report also discusses business future vision, along with skills
analysis, operations of tangible and intangible resources and their management as well as
competitors and customers of the Hollyhocks floating restaurant. This report also discusses about
the organisation management information system that are necessary for control of business.

REFERENCES
Books and Journals
Azizi, M. and Mahmoudi, R., 2019. Learning outcomes of entrepreneurship education: Entrepreneurship
education for knowing, doing, being, and living together. Journal of Education for Business, 94(3), pp.148-
156.
Beaumont, E., Smith, K. and O'Dwyer, B., 2022, January. Research in Enterprise and Entrepreneurship
Education, a UK perspective. In USASBE Conference 2022.
Crammond, R.J., 2020. Advancing Entrepreneurship Education in Universities. Springer Books.
Hassan, H.K., 2020. Intention towards social entrepreneurship of university students in an emerging
economy: the influence of entrepreneurial self-efficacy and entrepreneurship education. On the Horizon.
Ismail, A.B., Sawang, S. and Zolin, R., 2018. Entrepreneurship education pedagogy: teacher-student-
centred paradox. Education+ training.
Mei, W. and Symaco, L., 2022. University-wide entrepreneurship education in China’s higher education
institutions: issues and challenges. Studies in Higher Education, 47(1), pp.177-193.
Ndou, V., Mele, G. and Del Vecchio, P., 2019. Entrepreneurship education in tourism: An investigation
among European Universities. Journal of Hospitality, Leisure, Sport & Tourism Education, 25, p.100175.
Ramsgaard, M.B. and Blenker, P., 2021. Reinterpreting a signature pedagogy for entrepreneurship
education. Journal of Small Business and Enterprise Development.