Mini Fresh Mart: Business Plan Template for Online Grocery Store

BUSINESS PLAN TEMPLATE: THIS TEMPLATE MUST BE USED FOR THE ASSESSMENT. YOU MAY INCLUDE PICTURES
TO IMPROVE THE PROFESSIONALISM OF YOUR WORK
BUSINESS DESCRIPTION / MARKET OPPORTUNITY
Entrepreneurship is defined as the process of discovering the new and innovative ways of allocating the resources and using those
resources properly. The new business is named as the Mini Fresh Mart having the presence in the online market place. The company is
the new start up company used to sell the grocery products to the customers in online marketplace.
The mission of the company is to deliver the exceptional shopping to the customers by offering them best service, value and quality
products and serving the best to the communities (McKenzie and Sansone 2019).
The new company is used to provide the fast delivery of the grocery products that is within 1 or 2 days which helps the customers to get
the products at their home only. The company is the retail store used to follow the participative structure in the online market. They used
to take the feedback from the customers and helps them to improve them where they are lacking in the market. The company is having
the opportunity in the market as people were preferring less to go market and purchase the grocery items after happening of COVID.
The company used to provide the free shipping to its customers that helps them to increase the brand image in the market.

INDUSTRY ANALYSIS
Threat of new entry
The company is having the high threat of new entrants in the online market. This used to affect the new firms in the industry as it has the
strong force in the market. The customers has the high switching cost, so they can move from one online store to another. As this the new
grocery store it used to provide the free sanitizers to the customers which helps them to attract to buy more and focus less on new entrants
(How Porter’s Five Forces Can Help Small Businesses Analyze the Competition, 2022). The company must manage all the challenges and
build the effective barriers which make them safe from the competitors.
Threat of substitutes
The substitutes used to have the high and strong force in the market and have the high impact on the new business. As there are high
availability of the substitutes in the market which may affect the profitability of the Mini Fresh market. The cited company has to sell its
products at the lower rate as from its competitors which helps them to survive in the market. As the company is having the great threat of
substitutes, so they offer the unique products to the customers by giving them great discounts.

Bargaining power of customers
The bargaining power of the customers is very low as it is the online grocery store which used to provide the home delivery to the
customers. As after the happening of the pandemic the people were not preferred to go outside so the company used to provide them best
and fast services. By having the online market place helps the company to have the large customer base and helps them to grow in the
market at faster rate.
Bargaining power of suppliers
The most of the grocery store used to buy its raw material and products from the various suppliers in the market. As the suppliers used to
have the great position in the market they used to decrease the profit margin of the company. The new business must have the effective
supply chain with the multiple suppliers which used to provide them the best quality of products when required.
Competitive Rivalry: The company used to have the high force of competitors as there are many big grocery stores in the market of UK.
These big firms will affect the profitability and productivity of the new company. In order to compete in the market the new business has to
lower down the prices in order to have its presence in the market.
Name of competitor Differentiation
Amazon Fresh The company used to sell fresh and quality products which and also give the high discounts to the customers.
Asda Plc The company used to provide the best quality of products to the customers and used to take the payment online.