New Start Up Business Plan

This report outlines a new business plan for Sip and Bites, a drink structure that provides healthy and diet-conscious drinking products to consumers. It covers their objectives, market information, operational plan, strategy for growth, and financial information. The report emphasizes the importance of conducting suitable research before starting a company.

New Business

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK...............................................................................................................................................3
Overview of the business............................................................................................................3
A description of product or services offered...............................................................................3
Objectives....................................................................................................................................3
Market information.....................................................................................................................3
Operational plan..........................................................................................................................4
Strategy for growth / development..............................................................................................5
Financial information..................................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship is termed as an action of setting up management by managing financial issues
to gain higher term of profitability(Bagnoli and et. al., 2021). As it is essential to apply the
abilities and skills by which they will be capable to start the management. The following
presentation covers new business plan that have suitable aims and other essential aspects of the
company.
TASK
Overview of the business
The business plan is to set drink structure that provide healthy and diet conscious
drinking products to the consumers. It named will be “Sip and Bites”. As the individuals are
highly conscious about their health and there is necessity to eat healthy.
A description of product or services offered
The goods and facilities plays effective role in the management. It can be presented that
there is requirement to offer suitable goods to the consumers. The goods influence the consumer
towards the business and make them loyal (de Araujo and et. al., 2021). After the situation of
pandemic situation of COVID – 19, it is effective opportunities to offer drink that support to
increase the manner of immune system. It support to influence the consumer and manage best
qualitative terms of the goods. In context to the “Sip and Bites” they provide suitable drink that
utilise organic and diet conscious and no chemical substances. As per to it, they have original
drink that works as immune booster. They also offers the option on online delivery to the
consumers.
Objectives
Every management should follow suitable aims and then perform work to accomplish
their targets. The objectives set by the business and offers them guidance to perform it and will
be capable to accomplish success (Budler, Župič and Trkman, 2021). The objectives set by “Sip
and Bites” are discussed below -
 To set up effective position in market in 6 month
 To hold the consumer make them loyal
 To increase the managerial functions in 2 years

Market information
It is important to check the situation of market in which the management requires to
functions. It has been term that there are particular variations that take place on constant basis
and it becomes essential to follow the research in terms to the market. The organisation that are
capable to examine in terms of the market in suitable way that will be capable to lead it. It covers
Porter five forces model that will support to measure the market data that are as follows -
Threat of new entry – As there are various competitors in the market and in the industry
that influence new participants. As there is no restriction to entry and Sip and Bites have to suffer
issues of new entrants(Honig, and Samuelsson, 2021).
Bargaining power of suppliers - There are high power of suppliers as because Sip and
Bites require to offer organic drinks to their consumers. By this reason, they require diet
conscious raw material and other natural ingredients also. They should work and manage dealing
with suppliers so that they are capable to get products on time.
Bargaining power of buyers – It involves power of buyers in terms of Sip and Bites that
are intermediate in aspects. The goods and facilities that are provided by Sip and Bites are
unique and support the management to influences the consumers. They perform work to offers
suitable facilities to the consumers and it will increase the goodwill of business and serve the
consumers as efficiently.
Threat of substitute - At the current time, there is lower term of threat of substitutes. Sip
and Bites provide services to their consumer with diet conscious goods and healthy products
which can not be found effectively in the market place.
Competitive rivalry - There are some specific stores in London and it increase the
challenge. As there are higher term of competition exist in the industry and Sip and Bites have to
perform work on marketing by which they are capable to establish efficient position in the field
of market place.
Operational plan
 The products will be collected and the procedure of preparing products that will be home
made as according to the demand of consumers.
 “Sip and Bites” will start there structure and offer the suitable option of take away, dine
in and delivery services.

 The management will be individual in beginning and all the decision making will be in
hand of the proprietors.
 They will manage the good dealings with the suppliers by which they can maintain
suitable inventory company.
 Workers will be provided suitable training by which they will be capable to manage
security and hygiene (Latilla and et .al., 2021).
Strategy for growth / development
These path will be managed by Sip and Bites in respect to develop in the field of market place
that are as follows -
Understand value proposition – Sip and Bites offers suitable qualitative goods to the
consumers that are diet conscious for them.
Target Customers: To understand about the target consumer STP model that will be utilised. Segmentation - It is the procedure of separating heterogeneous population in consistent
teams. Targeting - The management will target individuals of all age team that are diet
conscious. Positioning - The management require to hold position themselves as the brand serving
best qualitative goods in the field of market place.
Key Performance Indicators - It become essential to check the positioning of business on
consistent basis. Sip and Bites will use the KPI like ROI, sales, and so on.
Review Your Business Model - The use of suitable model is to increase the opportunities
of success. It is important to review the model by which the success of management can be also
examined (Urbaniec and Żur, 2021). It will be important to utilise effective structure that boost
up the management.
Financial information.
It is essential to check the financial data and create budget. It supports the business to
understand about needs of monetary cost and decrease the risk that might raise in future.
Particulars Amount (£)
Start up cost 10000

Asset 20000
Marketing and sales 120000
Products and services 7000
Total 148000
CONCLUSION
From the above mentioned report it has been concluded that, there is requirement to conduct
suitable research before starting a company. The information related to targets, goods and
facilities that are follows in report. At last, it covers financial information that covers suitable
information of business.

REFERENCES
Books and Journals
Bagnoli, C., and et.al., 2021. Translating knowledge through business model tensions: a case
study. International Journal of Management and Decision Making, 20(2), pp.182-197.
Budler, M., Župič, I. and Trkman, P., 2021. The development of business model research: A
bibliometric review. Journal of Business Research, 135, pp.480-495.
de Araujo, L.M., and et.al., 2021. Digital leadership in business organizations. International
Journal of Educational Administration, Management, and Leadership, pp.45-56.
Honig, B. and Samuelsson, M., 2021. Business planning by intrapreneurs and entrepreneurs
under environmental uncertainty and institutional pressure. Technovation, 99, p.102124.
Latilla, V.M.M., and et.al., 2021. Organizational re-design for business model innovation while
exploiting digital technologies: a single case study of an energy company. International
journal of innovation and technology management, 18(02), p.2040002.
Urbaniec, M. and Żur, A., 2021. Business model innovation in corporate entrepreneurship:
exploratory insights from corporate accelerators. International Entrepreneurship and
Management Journal, 17(2), pp.865-888.