Developing a Plant-Based Meat Range: Industry Market Organization and Financial Feasibility

Entrepreneurship
and Business
Development

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explaining the new business concept .........................................................................................1
Industry Market Organization and Financial Feasibility ...........................................................2
Value chain and business model canvas for the giver business .................................................5
Mitigation of Potential risks .......................................................................................................7
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
The process of crating a new enterprise is highly challenging and includes several aspects
which increases the complexity of the process (Ayob and Saiyed, 2020). The present report
includes development of a new business concept which. The business concept sleeted for this
report is of plant based meat range. This report outlines the key components of the business
including target market and assesses the industry, market, organizational and financial feasibility
of the business concept. Value chain and business model canvas is applied to the proposed
business concept. Ways to mitigate potential risks associated with the business concept are
provided in this report.
MAIN BODY
Explaining the new business concept
 Product Description: The new business idea is of developing a plat based meat range by
the name of Viva Vegan. This will be a vegan meat range developed by scientific cruelty
free methods offering plant based meats products which include plant based meats with
similar taste , nutritional composition and texture to mutton, chicken, horse meat, lamb
meat, veal, pork, beef, and venison.
 Special Attributes: The plant based meat products offered by Viva Vegan will be offered
in sustainable packaging which is the special attribute of this business concept,. This will
allow consumer to purchase their products in sustainable manner and complete their
environmental responsibility.
 Target market: Low income consumers who want to consumer sustainable products are
the target market for Viva Vegan. In addition to this vegetarian and vegan restaurant
chains are another target market as they require plant based meat products.
 Scale of business: It is important to determine appropriate scale of business as it affects
profitability and initial success (Dvouletý, 2017). The scale of business will be medium
sized as it will lower financial risk of the business while also help satisfy maximum
number of consumers before reaching industry leadership. Management will also be
easier because of the medium size of the business and the company will cater to
consumers in UK.
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 Location: The primary location from where the products of Viva Vegan will be sold is
online website and retailers. In addition to this physical retail chains are another viable
option for selling the plant based meat range as most consumers conduct their grocery
shopping from such stores.
 Who will be involved: The food scientist and nutritions will help in accretion of the plan
based meat products. Sustainable suppliers and IT employees handling automation of
product development process will be the key stakeholders of their enterprise. In addition
to this supermarket and retail chains, both online and offline will also be an important
stakeholder in reaching the target consumer base.
 Rational behind introduction of plat based product range: The primary reason behind
selection of pant based meat range as the business concept is the rising awarenesses about
health and environmental benefits of plant based meat products over factory produced
meat products. This is depicted by the increase in number of vegans in UK by 445,428
people which equals to 40% in the year 2019-2020. Vegans and vegetarians are going to
be quarter of British population by the year 2025. Research by Mintel states that sale of
meat-free food across the UK have grown by 40% from £582 million to an estimated
£816 million in 2019 (Plant based meat: an industry full of potential, 2021). This
statistical information showcases the high growth potential of the plant based meat
industry. Investing in the plant based enterprise in the early stages of the industry will
provide success as the plant based meat industry grows.
Industry Market Organization and Financial Feasibility
PESTEL analysis
 Political Factor: The primary political factor which affects business firms in the plant
based meat industry is the decision taken by World health Organization to classify
processed meat as Group 1 Carcinogen alongside tobacco and coal tar pitch (Fichter and
Tiemann, 2018).
Positive Impact: The positive impact of this stance of leading international health institution is
that it helps promote vegan lifestyle.
Negative Impact: The negative impact of this factor is that it may influence large scale meat
producers to retaliate and take illegal measures to curb competition from vegan meat producers.
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