Business Plan for Vegan Lorry: Customers, Competitors, Skills Analysis, Financial Forecasting, Funding, and Management Information System

This report presents a business plan for Vegan Lorry, an enterprise that offers vegan food products. It includes an analysis of customers and competitors, skills analysis, financial forecasting, funding sources, and management information system.

Enterprise and Entrepreneurship

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
Future business............................................................................................................................3
Customers....................................................................................................................................3
Competitors..................................................................................................................................4
Skills analysis..............................................................................................................................5
Financial Forecasting of Vegan Lorry business..........................................................................6
Suitable Sources of Funding......................................................................................................11
Break-down of start-up cost.......................................................................................................12
Type of organization and management information system......................................................12
Vision.........................................................................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
The current study is based upon he business plan of moving vegan food products for the
customers and the name of the business Vegan Lorry. For that the report will determine the
customers and its key competitor who also provide the same products and provide skill analysis
in order to understand whether the new business product is beneficial. Also, describe P&L
account for the next 2 years in order to determine whether the business is viable.
Future business
The current business is based upon the moving vegan food products lorry which provide
different variety of food products that helps to meet the diet plan for the customers. The food
products will be freshly made as per the demand of customers and it helps to provide proper diet
to the people. This in turn assist to bring innovation in the market because Vegan Lorry main aim
is to reduce the obesity and provide healthy food to the people so that effective outcome can be
provided.
The intellectual property rights that helps a business to protect the business idea are
related to ISI mark where the raw material used to cook the food should be appropriate and this
causes positive impact over the business performance.
Customers
Segmentation: Vegan Lorry will uses demographic segmentation which in turn help to segment
the people on the basis of age, income and class (Schlegelmilch, 2022). Under age, all age group
i.e. 15 to 60 can enjoy the food products and the products are low and affordable which in turn
reflected that all income group people can enjoy the services.
Targeting: The new business will adopt only differentiation targeting strategy that helps to
differentiate the products on the basis of different variety so that effective outcome can be
generated (Huang and Rust, 2021). Also, this strategy assist company to improve the business
performance and also create a better outcome

Positioning: The USP for Vegan Lorry is to offer the high quality of food products that do not
affect the health of the people. This in turn assist to create a better outcome and improve the
performance of a business of a company as well (Setiyawati and et.al., 2021).
Competitors
Key elements Vegan Lorry Bamboo Street Food Vood Bar
Product The lorry provide all types
of vegan food products with
delicious taste that helps to
attract the people
The products offered
by this company
influence by the
whole array of global
cuisine.
Vood Bar provide
classic fish and chip
that is completely
based upon vegan.
Pricings style The pricing style adopted by
the company include
penetration which help to
settle the customer base so
that effective outcome can
be generated
Premium pricing
strategy is adopted
by the company that
helps to create a
better outcome in
order to make the
product viable
(Soegoto, 2021).
The products are
offered at high rate
and that is why, it
can be stated that
company uses
skimming strategy
that helps to be a
competitive in a
market.
Promotion tool Only digital marketing tool
will be used by the company
in order to promote the
products effectually. Also,
this include SEO, discount
strategy that helps to attract
customer
Only modern form of
promotion tool used
which include social
media, SEO,
affiliated marketing
that create positive
impact over
customer
Both traditional and
modern form of
marketing is used
that include
billboard, TV ad,
social media
platform etc.
USP The unique position of the It’s USP is to offer To offer great variety

company is to offer
delicious vegan product with
a least price by promising
quality
high quality of
product by charging
standard rate from
their customer
of product without
compromising
quality (Phillips,
2021).
Skills analysis
Currently I have a strong curiosity and communication skills that assist me to take the
business idea forward. Also, I have a strong financial skills which help me to identify whether
the project is viable or not. In addition to this, I also have a strong digital marketing skills which
in turn assist in marketing the product so that effective outcome can be generated (Malkawi and
Khayrullina, 2021). This in turn shows that I am able to perform the work in an effective manner
and these skills helps me to meet the defined aim within a set target.
Apart from this, there are some weakness which I faced that might hamper to take the
business idea forward such that lack of organizing skill which in turn affect the results in
negative manner. Also, being a multi-tasker might affect the result in negative manner because I
am not focusing on the completion of a time of a project. Therefore, it can be stated that it affect
the result in negative manner (Akeke and et.al., 2022). Thus, to address the skills gap, action
plan need to be implemented that provide action to meet the weakness which is as mentioned
below:
Skills need to be
improved
Action Time taken Resources
Organising skills To improve the same,
tutorial will be
helpful. Also, training
session can be
attended
2 week Tutor, online learning
Time management
skill
Priority of the task
need to be identified.
3 weeks Books

Ready biography of
top leader to
determine their way
to manage work
according to time
(Chomphookarwin,
2021).
Financial Forecasting of Vegan Lorry business
This section of business plan of Vegan Lorry is including two year projected profit and loss
account as well as two year projected cash flow along with breakeven analysis.
Projected Income Statement of Vegan Lorry:
Particulars Year 1 (£) Year 2 (£)
Sales unit 5000 8000
Selling price 25 30
Sales Revenue 125000 240000
Less Cost of Sales 45000 75000
Gross Profit 80000 165000
Gross Profit Margin 64.00% 68.75%
Expenses:
Payroll 15000 15000

Sales and Marketing 12000 12000
Depreciation 1500 1500
Utilities 2500 2500
Insurance 1800 1800
Rent 6000 6000
Payroll tax 500 500
others 1100 1100
Less Total operating expenses 40400 40400
Profit before interest and tax 39600 124600
Less Interest @ 5% 5000 5000
Profit before tax 34600 119600
Less Tax @ 20% 6920 23920
Net Profit 27680 95680
Net profit Margin 22.14% 39.87%
Projected Cash Flow:

Particulars Year 1 (£) Year (£)
Opening cash balance (A) 75000 99180
Add Cash inflow:
Sales receipt 125000 240000
Proceed from bank loan 100000 0
Total cash inflow (B) 225000 240000
Less Cash outflow
Purchase of Stock or raw material 25000 40000
Operating Expenses excluding depreciation 38900 38900
Interest 5000 5000
Corporate tax 6920 23920

Purchase of Equipment 125000 25000
Total cash outflow (C) 200820 132820
Net Cash flow (D) = (B) - (C) 24180 107180
Closing cash balance (A) + (D) 99180 206360
Calculation of Break-even point:
Formula = Fixed cost / Contribution margin
Break down of total cost into fixed and variable cost
Variable cost:
Year 1 Year 2
Cost of sales 45000 75000
Tax 6920 23920
Total 51920 98920

Fixed cost:
Payroll 15000 15000
Sales and Marketing 12000 12000
Depreciation 1500 1500
Utilities 2500 2500
Insurance 1800 1800
Rent 6000 6000
Payroll tax 500 500
others 1100 1100
others 1100 1100

Interest 5000 5000
Total 46500 46500
BEP Year 1: 51920 / (78500 / 125000 * 100) = 51920 / 62.8%
= 82675 in value or 3307 units
BEP Year 2 = 98920 / (193500 / 240000 * 100) = 98920 / 80%
= 123650 in value or 4122 in units
Interpretation:
On the basis of above calculation, it is analyzed that Vegan Lorry business have to sell at
least 3307 units in first year and 4122 units in second year in order to meet no profit & no loss
point. For earning profit, the company should sell more than the breakeven units (Snider and
Davies, 2018).
Suitable Sources of Funding
In order to start the business, the owner of Vegan Lorry will use the following suitable sources of
funding:
Particulars Amount
Owner capital (Cash) 75000
Loan from Bank of England @ 5% 100000
Total 175000

Further, the business is also planning to source the funds from debentures and shares in
future for gaining business opportunities. In order to do this, the owner will plan to convert the
company into public after 5 to 6 years (Ali and Khalid, 2019).
Break-down of start-up cost
Particulars Amount
Stock 25000
Equipment 125000
Premises Rent 6000
Total Startup cost 156000
In order to obtain the tangible as well as intangible resources between now and 1-2 years
ahead, Vegan Lorry is planning to purchases, foreign exchanges along with the acquiring
government grants.
Type of organization and management information system
The organization is sole proprietorship which is run by a single person and for the
business plan, inventory control and sales/marketing as a management information system has
used in order to improve the business performance.
Vision
The vision of the company is to provide best vegan products to their customers that helps
to improve their health.
CONCLUSION
By summing up above report, it has been identified that the chosen business plan will be
viable and that is why, it helps to improve the health of people so that they provide effective

outcome. Also, the sales project clearly indicated that investing in this business will be more
feasible and improve the financial performance of the company.

REFERENCES
Books and Journals
Akeke, M.N.G. and et.al., 2022. Entrepreneurial skills for business education graduates
employability in Cross River State, Nigeria. Educational Research and Reviews. 17(4).
pp.138-144.
Ali, K. and Khalid, M., 2019. Sources to finance fiscal deficit and their impact on inflation: A
case study of Pakistan. The Pakistan Development Review. 58(1). pp.27-43.
Chomphookarwin, K., 2021. The development of English speaking skills for business
presentation and business ethics awareness using supplementary lessons of office
management students. Available at SSRN 3865883.
Huang, M. H. and Rust, R. T., 2021. A strategic framework for artificial intelligence in
marketing. Journal of the Academy of Marketing Science. 49(1). pp.30-50.
Malkawi, E. and Khayrullina, M., 2021. Digital human skills form the corporate economy and
business development. Ekonomicko-manazerske spectrum. 15(1). pp.64-74.
Phillips, T., 2021. Veganism and the US legal system. The Routledge Handbook of Vegan
Studies, pp.134-149.
Schlegelmilch, B. B., 2022. Segmenting targeting and positioning in global markets. In Global
marketing strategy (pp. 129-159). Springer, Cham.
Setiyawati, E. and et.al., 2021. Marketing Plan for Business Startups ‘Jamu Partnership’in
Indonesia. International Journal of Research and Review. 8(08). pp.327-333.
Snider, J. H. and Davies, K. J., 2018. Success strategies for small financial planning
firms. International Journal of Applied Management and Technology. 17(1). p.4.
Soegoto, F.A., 2021. Product Development using SWOT Analysis. International Journal of
Entrepreneurship & Technopreneur (INJETECH). 1. pp.1-10.