Innovative Business Idea: Food Truck Start-Up

Report for Innovative Business
Idea Business Start-Up

Table of Contents
INTRODUCTION...........................................................................................................................1
Description of your business start-up..............................................................................................1
Application of the domains to the business start-up........................................................................1
1) Market attractiveness and micro level................................................................................1
2) Target segment benefits and attractiveness; Industry domain that addresses macro level 2
3) Industry attractiveness and micro level..............................................................................2
4) Sustainable advantage........................................................................................................2
5) Mission, aspirations, propensity for risk............................................................................2
6) Ability to execute on Critical Success Factors and............................................................2
7) Connectedness up, down and across value chain...............................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Entrepreneurship can be deciphered as the concept involving creation of value for the people
through the setup of a new business within the market place. An entrepreneur is the person who
is actually engaged in unfolding every activity essential for effectively establishing and
managing a business in the long run. Now, the entrepreneurial idea that has been proposed by the
entrepreneur to be setup in nearby course of time is a food truck business.
Description of your business start-up
The food truck business start-up will run in market place under the name of “Meals on the Way”.
This entrepreneurial idea has been proposed looking upon the concerns of people in the wake of
corona virus outspread across the globe. People are terrified by the transmission rate of this virus
and thus they devoid themselves from going out of their houses, until and unless it is very
essential. The food truck business will tap those individuals who are fond of fast food but are
cautious of stepping out of their houses right now due to the trap of novel corona virus. The food
truck will be running in 6 major regions of London, United Kingdom. The offerings of this
business will include tacos, sandwich, roll, tart, brownie, fritter, burschetta, pasta, burritos,
pancake and so on. This is aimed at providing people with their favourite items nearby their
homes, so that they do not have to go far for eating something. Hygiene, safety and security will
be the prime concerns of this business start up. The staff will be wearing gloves as well as masks
at every point of time to avoid any kind of risk related to hygiene or safety of customers. Further,
the customers will not be allowed to gather in the form of crowd. There would be proper distance
between two customers, that too, within lines, to ensure safety and social distancing. This will
make sure least contact between two customers or customer and staff of food truck.
Application of the domains to the business start-up
1) Market attractiveness and micro level
The market segments which will be targeted by the business consist of the hygiene conscious,
foodie and the youngsters. These can be easily attracted to the offerings of Meals on the Way.
Further, they will be impressed by the sanitisation and hygiene measures undertaken by the
venture. Thus, they will be engaged in repeat purchases.
1