Environmental and Competitive Analysis for a Vegan Restaurant Start-up

Written Report

CONTENTS
INTRODUCTION .....................................................................................................................3
MAIN BODY.............................................................................................................................3
Determining internal and external environment.....................................................................3
Presenting the Porter five forces analysis...............................................................................6
CONCLUSION .........................................................................................................................7
REFERENCES...........................................................................................................................8

INTRODUCTION
Start-up are most common in today's era where one or more people join hands to
develop any kind of product or services in the market based on the demand of customers.
Also, the present report is based on idea of opening new restaurant as sole trader named
Vegan restaurant as growing concern among the people to have healthy diets. Moreover, the
study will analyse and gather types of internal and external information through PESTLE and
porter five forces model so that better strategic decisions and organization structure could be
developed in the future operations of the business. Lastly, the study will highlight the
significance of these factors in estimating the overall cost and budget of the project so that
proper demand could be created in target market.
MAIN BODY.
Determining internal and external environment.
There are various types of internal and external factors that affects the operations of
business. Also, for opening restaurant like Vegan restaurant it is very essential that proper
environmental analysis is conducted so that certain strength and weakness could be identified
so that challenges could be overcome easily by developing proper plan and strategies in the
future (Bennett and Satterfield, 2018). Furthermore, this concept has been chosen for the new
business plan as people nowadays are more concern about the health benefits. Moreover, on
various online platforms there are various vegan movements that are been created that
influence people to raise voice against the animal cruelty and consume more green products.
Thus, opting for opening the vegan restaurant would be profitable as people would be ready
to pay even higher prices for most of their favourite vegan dishes.
Moreover, there are various ways through which business would be start up such as
sole trading business, partnership, private limited company and more. However, the one that
would be chosen for this concept is sole trader business as it is easy to form and simple to
manage (Sunarsi, 2020). Also, quick decisions could be taken so that everything could be
well-organized before only. Furthermore, changes in the company could be adopted any time
that would give enough flexibility in business operations. Although, sole trader company
have the limited life and unlimited liability because of which the business needs to be grown
faster so that it could sustain in the market for longer time. Also, external environment of the
firm could be identified through conducting PESTLE analysis so that various factors such as
political, economical, social, technological and legal factors which affects the business