Growth Sustainable Business Plan for Victoria Bed and Breakfast

This business plan is about a hotel with a restaurant named as Victoria Bed and Breakfast. It provides a variety of cafe products and also rooms to guests. Targeted customers for this business are families, individuals and those who want an exclusive taste as well as willing to try different kinds of meal. The report covers proposed future business, customers for the proposed business plan, assessment of competitors, skills analysis, projected two year and loss account as well as cash flow forecasts, suitable resources of funding, plans for obtaining resources, type of organisation and information management system of proposed business, and vision of B&B outlet.

Enterprise and
Entrepreneurship
Growth Sustainable Business Plan

Contents
INTRODUCTION ..........................................................................................................................4
MAIN BODY ..................................................................................................................................4
Proposed future business .............................................................................................................4
Customers for the proposed business plan...................................................................................5
Assessment of competitors for the proposed business plan.........................................................5
Skills analysis for proposed business ..........................................................................................6
Projected two year and loss account as well as cash flow forecasts include break even analysis
......................................................................................................................................................7
Suitable resources of funding ......................................................................................................8
Plans for obtaining resources ......................................................................................................8
Type of organisation and information management system of proposed business.....................9
Vision of B&B outlet...................................................................................................................9
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business activities can be described as a purpose or objective for which organisation and
its employees perform in order to earn profits and makes it a growing avenue (Henry and Lewis,
2018). It is a general term which consists of varied economic activities that are need to be
performed by organisations during their workings. This planned business is about a hotel with a
resturant named as Victoria Bed and Breakfast. It provides a variety of cafe products and also
rooms to guests. It is an business that accommodates guests overnight and offers breakfast menu.
However, its USP is authentic vine and exotic taste of fusions different kinds of food. Targeted
customers for this business are families, individuals and those who wants an exclusive taste as
well as willing to try different kinds of meal.
MAIN BODY
Proposed future business
This business plan is based on the B&B which provides accommodation to guests for
overnight as well as attractive breakfast menu tom their guests. It will offer a diverse variety of
products like French Toast, breakfast sandwiches and many more. Major products or its unique
selling proposition is their fusion food like Tex-Mex and Pacific Rim cuisine. There also provide
best room services to their guests for overnight. They also get readily accommodations at their
visit. In this B&B, entrepreneur is planning to bring many innovative practices through the use of
digital technology like application of waitlist management, dish sanitizing technology and
interactive tables. Waitlist management helps customers to book their tables before coming from
their rooms so that they do not shave to wait and it is managed through technology of artificial
intelligence (Jones, 2018). Through this guests who are residing in B&B are notified when their
tables get ready for breakfast on their mobile devices. It helps in preventing crowd on doors at
restaurant area. Dish sanitizing system will help the owners to wash the dishes in a continuous
manner that supplies can be maintained on a constant basis. They are also planning to bring
innovation of interactive tables whereby special tables are arranged for the guests who are visited
their hotel. These can be helpful in engaging guests in their waiting time and also persuading
them to make repeated visits. These tables are prepared for video games or any other indoor
sports. There is a small segment of books and novels for whom who want to enjoy coffee and

snacks with novels as well as magazines. In their B&B outlet, they will also provide 24*7 room
services with their experienced staff.
Owners of this B&B outlet have to get a copyright for their business idea as it is a unique ides
which is to be get copyrighted.
Customers for the proposed business plan
Target customers for this business plan are people of London and other nearby states.
B&B food outlet chose to target customer segment based on geographical and demographics like
income and spending patterns. They target middle class travellers to stay overnight at their hotel.
USP of B&B outlet is to provide different kinds of fusion food as well as overnight stay at
affordable prices. Their services are appreciated by people for their excellent room services.
This practice best suits travellers who want to enjoy the whole day and rest for the night at a
place with affordable prices (Jones, and Maas, 2019). They will also provide with affordable
accommodation and reliable as well as quality room services. Guests are welcomed and
appreciated at all the hours of day. They also target those customers who wants a combination of
good food services.
.Through there accommodation services, they also provides many attractive packages to
their guests. Market research is an activity whereby potential opportunities and risks are assessed
by organisation in order to face competitors in a highly competitive environment.
Assessment of competitors for the proposed business plan
Major competitors of B&B outlet are differential start up hotels which provides which
are exist in London and nearby places. Competitive advantage which is presented with B&B
outlet are its exclusive taste of fusion products and their calm ambience with facility of
accommodation which attracts guests to make repeated visits. For ascertaining competitive
advantage and formulation of corporate strategy, Porter five forces is taken into consideration. Competitive rivalry- This element of porter five forces encompasses of number of
competitors and extent of competition in market (Jones, 2020). In hospitality industry,
there is huge competition which have to be faced by restaurants. B&B outlet face
competition from various competitors for similar type of products and services. Threat of new entrants in market- It can be described as a threat where new entrants
enter into market and provides competition to established companies. In hospitality

industry, threat of new entrants is low as it incurs huge cost and they have to follow
certain legislation and regulation before initiating to open. Power of suppliers- It can be described as a power of suppliers which enables them to
make deal with the organisations in order to send them various inputs and raw supplies
for manufacturing process (Dobson, and McLuskie, 2020). In hospitality industry, power
of suppliers is low as they are many in number and switching cost of them is very low for
company. This helps B&B outlet in getting high quality of raw materials at negotiable
deals and affordable prices. Power of customers- This element is affected by number of customers or buyers an
organisation has and how people can exchange their brands for procuring something new.
In hospitality industry, there are huge number of food outlets and restaurants which
provides a huge power to customers as to switch brand in a frequent basis. For avoiding
this situation, B&B outlet have to bring some innovative ideas for persuading people to
make repeated visits.
 Threat of substitute- This element talks about threat of similar items provided by
numerous organisations at a time (Durmanov, and et.al 2020). Companies who produce
or sell unique product and do not have a close substitute are in a position of securing
competitive advantage. In hospitality industry, there presented close substitutes of varied
products by many restaurants. B&B outlet have to provide a unique products to their
customers in order to get them engaged and retained for a longer period of time.
Skills analysis for proposed business
Skill analysis is helpful in assessing current competencies of an individual so that they
can improvise that through their abilities (Hannon, 2018). Various skills that are needed for
opening up a business by entrepreneur are communication skills, networking skills, risk tasking
skills and many more. These skills help them to engage and perform in a significant manner. It is
needful to have creative thinking skills for entrepreneur as this help them to bring some
innovative ideas which in turn helps them to gain competitive advantage. Existing skills of
restaurant owner of B&B outlet are creative thinking, communication and problem-solving
skills. These help them to ruin their business operations successfully.
They do not possess networking and business management skills as they do not have any
work experience. This skills gap can be filled with a systematic procedure such as identification

of improving skill and develop ways to improvise them in an efficient manner which helps them
to grow their business in an effective manner.
Projected two year and loss account as well as cash flow forecasts include break even analysis
Projected two year forecasts for B&B outlet is as follows:
Projected cash flow forecasts for B&B outlet are as follows:
Break even analysis of B&B outlet are as follows:

Suitable resources of funding
There are various sources of funding available for B&B outlet that can be taken into
consideration. These are bank loan, venture investors, crowd funding and personal savings. Bank
loan is a feasible choice for B&B outlet as they have to only give interest rates and gets a huge
amount which they can use in setting up of their business. It is a trustworthy source of taking
financial help and they also provide low rates of interest payment too.
Plans for obtaining resources
For better understanding of plans in relation with obtaining tangible and non-tangible
resources effectively, breakdown of all cost for B&B outlet is taken into consideration.

Type of organisation and information management system of proposed business
B&B outlet is a partnership business whereby profits and losses are shared among
partners and both have to share varied responsibilities together in order to enhance growth plans
and development opportunities. They have adopted many software for collecting and
assimilating varied information of their guests in order to provide better quality of services.

Vision of B&B outlet
Vision statement of B&B outlet is to provide quality products to their customers and
excellent room services to their accommodated guests and maintain their market share for a long
time. Future plan for B&B outlet is to set up their business in an effective manner as well as
expand it afterwards.
CONCLUSION
From the above report, it has been concluded that for developing a business plan, it is
significant for entrepreneur to deploy varied skills such as communication, critical thinking and
have creativity in their operations. This report also concluded varied aspects for developing the
business plan such as vision, skills, resources, funds and many more.

REFERENCES
Books and Journals:
Henry, C. and Lewis, K., 2018. A review of entrepreneurship education research: Exploring the
contribution of the Education+ Training special issues. Education+ Training.
Jones, C., 2018. A signature pedagogy for entrepreneurship education. Journal of Small Business
and Enterprise Development.
Jones, P. and Maas, G., 2019. Conclusions on transformational entrepreneurship. In
Transformational entrepreneurship practices (pp. 105-113). Palgrave Pivot, Cham.
Jones, C. ed., 2020. How to Become an Entrepreneurship Educator. Edward Elgar Publishing.
Dobson, S. and McLuskie, P., 2020. Performative entrepreneurship: identity, behaviour and place
in adventure sports Enterprise. International Entrepreneurship and Management Journal,
16(3), pp.879-895.
Durmanov, and et.al 2020. Features of application of innovative development strategies in
international enterprise. International Journal of Entrepreneurship, 24, pp.1-9.
Hannon, P.D., 2018. On becoming and being an entrepreneurship educator: a personal reflection.
Entrepreneurship & Regional Development, 30(7-8), pp.698-721.