Innovation and Entrepreneurship: Business Plan for an Italian Restaurant

INNOVATION AND
ENTREPRENEURSHIP

EXECUTIVE SUMMARY
The project report aims to define new business plan and define strategies which will be
opted by the entrepreneur for operating a successful business in this changing competitive
scenario. The report is based on different stages which are necessary for an entrepreneur to
identify and execute plan after identifying such factors. The report defines the business idea,
profile of industry, business model which will be followed by the entrepreneur, point of
differentiation which will make the business unique from other existing business in the industry,
challenges which will be faced by the company and how the venture will market their products
and services by using effective marketing mix technique.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
TASK...............................................................................................................................................4
BUSINESS IDEA........................................................................................................................4
INDUSTRY PROFILE................................................................................................................5
BUSIENSS MODEL...................................................................................................................6
POINT OF DIFFERENTIATION...............................................................................................7
CHALLENGES...........................................................................................................................7
CUSTOMERS.............................................................................................................................8
MARKETING.............................................................................................................................8
COMPETITOR ANALYSIS.......................................................................................................9
SOURCE OF FUNDING..........................................................................................................10
INTELLECTUAL PROPERTY................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Entrepreneurship is the ability to establish, develop and operator new corporation.
Entrepreneurial vision is a key component which helps in determining changing business
environment which can help business venture in making decisions that can create benefit and
advantages for the organisation. Innovation and entrepreneurship are interlinked as an
entrepreneur use their innovative ideas for developing a business which can help in gaining
competitive advantage and maximize the profits (Ferreira, Fernandes and Ratten, 2017).
Business venture is the formation of a new business enterprise which is developed after
identifying the market trends related to the business industry in which the new venture will
operate. The report aims to define the business plan through which they can create a new
business venture and identify the factors which can influence the business environment. The
report will also define a strategic marketing plan and helps in identifying competitors through
competitor analysis technique.
TASK
BUSINESS IDEA
The business plan detailed in this project report is for the establishment of an Italian
restaurant “The Diners Club”.
The Italian restaurant will be introduced in the most famous streets of London, Bakers
Street which will be serving different varieties of Italian dishes. The restaurant will use organic
raw material which will help them in maintaining the quality of their dishes and the business
venture will be focusing on delivering quality customer service and high quality hygienic food
products that can meet their demands. The restaurant will also offer dine-in, take away and
online ordering services which will help them in enhancing business growth and cover a wide
area of market share.
Location- 221, Baker Street, London, UK
Products- The products which will be offered by the café are listed in the menu which has been
discussed below: