Ice Cream Business Plan - Assignment
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Added on 2020-10-22
Ice Cream Business Plan - Assignment
Added on 2020-10-22
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BUSINESS PLAN AN ICECREAM BAR IN KENSINGTON
Table of ContentsINTRODUCTION ..........................................................................................................................1PART 1............................................................................................................................................11. Outlining of new business venture...........................................................................................1Unique selling position and define why business would get competitive advantage..................11.1 Business types........................................................................................................................2Explain the chosen business model..............................................................................................21.2 Research type.........................................................................................................................2Research into business service and identify existing competitors...............................................2Use UK and local statistical data, marketing surveys. Explain why you think there is demandin market for chosen service........................................................................................................2PART 2............................................................................................................................................5Application of McCarthy's 4P's...................................................................................................5Explain the role of managers.......................................................................................................6Explain the advantages and disadvantage of having Zero hour contract.....................................7Identify the target customer ........................................................................................................7CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTION Business plan defined as formal written document that consisting of business goals,methods that determines how objectives can be framed and deadline within which goals can beachieved (Energy, 2018). Therefore, business plans are inherently strategic as it is vital for thesuccess of enterprise. Furthermore, the present report is based on business plan of an ice cream bar inKensington, west London, UK. Therefore, report will cover activities as nature of business andproduct and services, unique selling position, business model, 4p's of the product. Lastly,assignment has to cover target customer segment.PART 11. Outlining of new business venture.Executive summary- Hot and cold sizzling ice cream firm, will be a scoop shop locatedon engaged street in Kensington, west London, UK. Therefore, this entity will come up withinnovation as to serve Ice cream scoops with hot chocolate sauce in sizzler tray. Presently, theproduct is unavailable in chosen location (Carot Zarzoso, 2018). However, this enterprise willalso take initiative for selling Ice cream cakes, birthday cakes and cola products. It is firm thatwill use low fat ingredients so it can be healthy for health conscious customers. This entity willhave the use of selective marketing that intends to create a loyal customer base and offering willbe available in affordable rates. Unique selling position and define why business would get competitive advantage.It is term that defines the unique benefits exhibited by the firm that enables the companyto stand out from competitors. Thus, "Hot and cold sizzling ice cream firm" will able to standunique in market as it will provide the highest quality commodity to customers. Therefore, thisentity will have a slogan as Hot serving-cold craving. Hence, this entity can able to gaincompetitive advantage within market with help of providing the rich and creamy, high class,Low fat, frozen desserts (Tan, 2019). However, the unique selling position of this firm will be asselling the finest quality products to customer at the affordable price rates. Mission- To provide the finest quality Ice cream scoops and fresh made chocolate sauce withcommitment to executing the freshest, riches and creamiest ingredients. To actively analyse the needs and wants of customers. 1
Objectives- To achieve more than $65000 sales during the first year of operations.To have enhancement in annual sales by 40% from the second year.Key's to success- It will be inclusive of things as- To offer high level of quality in its product line. To maintain and growing relation with customers so that sales can be enhanced. To put high investment in grass roots marketing. Timely bring innovation in products offering so that will make them differentiate fromcompetition within market (Scott, Lundgren, and Thompson, 2018). 1.1 Business typesExplain the chosen business model.In order to start up the new venture the chosen model will be as company formation. Itwill be done in the process of registering firm as a limited company at companies house. It iseffective model as it can be completely separate from their owners in terms of finances,liabilities, contractual agreements and ownership of property and assets (Watson, Wilson andMacdonald, 2018). Under this model, firm can be created by individuals, specialised agents andsolicitors etc. 1.2 Research typeResearch into business service and identify existing competitors.Business service that will be provided by entity as Hot and cold sizzling ice cream firm isunique as there is no same product available in location (Busco and et.al., 2018). However, withthe depth research it has been conducted that there are number of other Ice cream parlour at thelocation. Hence, one of the most popular competitor in UK is Magnum. Hence, in the highlycompetitive market it is hard for Ice cream stores to develop and to create better and effectivebusiness performance. Use UK and local statistical data, marketing surveys. Explain why you think there is demand inmarket for chosen service.The demand of the Ice cream shop in UK can be identified with the help of undertakingmarketing survey. Hence, the demand is as- 2
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