7 Domain Model: Business Plan for Entrepreneurial Opportunity Module

This report provides a comprehensive business plan overview for a startup restaurant named Foodies Town, utilizing the 7 Domain Model. It details the concept statement, emphasizing a unique selling proposition of customizable food orders via tableside screens. The business model includes dine-in, takeaway, and online ordering, targeting younger adults and tech-savvy customers. The market analysis covers micro and macro factors, including PESTLE analysis highlighting opportunities and threats. The industry analysis assesses bargaining power, rivalry, and the impact of substitutes. The mission statement focuses on providing the best customer experience through advanced technology and customization. Teamwork dynamics and critical success factors, such as hygiene and supply chain management, are also discussed, concluding that the 7 Domain Model is essential for effective business planning. Desklib offers a platform for students to access similar solved assignments and past papers.

Student ID Number
Programme Title
Business Management Extended
Module Title
Entrepreneurial Opportunity
Module Code (listed on
Moodle and in LTAFP)
Module Convenor
Coursework Title
Report on a new business idea
Word Count
Date
Submitted

ENTREPRENEURIAL OPPORTUNITY -REPORT
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Contents
Introduction......................................................................................................................................2
Concept Statement...........................................................................................................................3
Business Model................................................................................................................................4
Consumer Segment..........................................................................................................................4
Market..............................................................................................................................................5
Micro-Market...............................................................................................................................5
Macro-Market..............................................................................................................................5
Industry............................................................................................................................................6
Industry-Macro............................................................................................................................6
Industry-Micro.............................................................................................................................6
Mission Statement...........................................................................................................................7
Teamwork Dynamics.......................................................................................................................7
Critical Success Factors...................................................................................................................7
Conclusion.......................................................................................................................................7
Bibliography....................................................................................................................................8
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Introduction
The 7 domain business model helps to formulate the plan for the business startup which
includes the concept of the new idea along with the proper business model used in the startup of
the business. It also includes the consumer segment and micro market along with the macro
market and changing driving trends of the market. It also involves the industry macro and
industry micro along with a mission statement and teamwork dynamics. Moreover critical
success factors and connectedness tests with conclusions are covered in the following report
(Godsey, 2020).
Concept Statement
The proposed business plan is based on the restaurant which is named as the foodies
town. It will serve the customers with different varieties of fast food which includes the starters
and main course along with the deserts as well. Unique selling proposition chosen for the
restaurant business is such that the customer will be flexible in customizing their food. Which
means customers will order their food from their table itself and can customize their food as per
the taste and requirements. This will include the technology such that the table will be containing
the screen through which the variety of options will be available for the customization and then
they can order from that screen only. This will help the customers to fulfill their taste and
preferences in their food order and also to use advanced technology by simply sitting on their
table (Fullen, 2019).
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Business Model
The business model for the foodie town will include the dine in and take away facilities
along with the online ordering system from the website of the restaurant. Unique selling
proposition discussed above will be applicable on all these options available for the customers.
This will help the customers and the business operations in proper flexibility and scalability in
the functioning of the restaurant (PANFIL, 2018).
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Consumer Segment
Customer segment for the foodie’s town includes the demographic segment. It will
contain the younger adults for the age group of 18 to 34 years old. Female segment is also
included in the form of psychographic segmentation of customers. Specially the people who love
to use the technology and are highly concerned with their own taste and preferences are targeted
(Wali, 2018).
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Market
Micro-Market
Technology is advancing day by day therefore people are looking for the services which
are technology-based. Foodies town provide such services as per the needs and requirements of
the customers with the help of technology advancement implementation in the restaurant and
even on the website of the restaurant (Skrypnik, 2020).
Macro-Market
Macro market includes the six factors of pestle analysis. Political factors are a threat
because of the government restrictions on food quality and high taxes on the raw materials of
food. Economical factors have the opportunity for the foodie town because of the strong labor
market in the UK. Social factors also have the opportunity because nowadays people move with
the trend and today are a trend of the customization and Technology as per their needs and
requirements of the customers. The technological factor has the opportunity for the restaurant
because of the advancement in artificial intelligence and virtual reality implementation in the
servicing of the restaurant. Legal factors are the threat because of the strict laws and legislations
are formulated for food safety. Environmental factors have the opportunity because of the low
carbon footprint in the restaurant due to the takeaway and online ordering system and the use of
the sustainable Technology within the restaurant (Priskila and Rina, 2019).
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Industry
Industry-Macro
There will be the low bargaining power of the buyers because of the advanced services
provided by the restaurant. There will be the moderate bargaining power of suppliers. Existing
rivalry will be also at the moderate level. There will be the high impact of substitutes due to the
several restaurants providing the food menu similar to the foodie’s town. New entrants will also
be at the moderate level (Bui, 2020).
Industry-Micro
Foodie’s town is in the competitive advantage due to the advanced technical services and
customization services provided by the restaurant. But it can suffer the high competition in the
food menu due to the similar food items placed (Dahal, 2020).
Mission Statement
Mission statement of the foodie’s town is to provide the best experience to the customers
in terms of advanced technology and customization in its food ordered by them. Objective is to
diversify the range of product item in order to fight against the tough competition in the
marketplace.
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Teamwork Dynamics
They will be the multiple units in the restaurant such as reception and penance along with
the kitchen and customer servicing units. There will be a staff which will be divided on the basis
of different business units in order to work together and help each other in better coordination
while aligning with the goals and objectives of the restaurant (Jinhee, Minji and Seungwoo,
2019).
Critical Success Factors
Critical success factors of the foodies town includes the advanced technology used and
customization services in terms of unique selling proposition. It will also include hygiene and
excellent customer experience along with the supply chain management (Peters-Destéract, 2020).
Conclusion
It is concluded that the seven domain business model is an important concept for better
growth and expansion of the start a plan and implementation of the new idea in the business. The
above information contains all the seven domains of the business model which helps to formulate
the proper business plan and achieve its goals and objectives in an effective and efficient manner.
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Bibliography
Bui, H.Y., 2020. Business plan for Lotus Vegan Restaurant.
Dahal, S., 2020. Designing a business Plan for a European-Nepalese Fusion Restaurant in Nepal.
Fullen, S.L., 2019. Opening a Restaurant Or Other Food Business Starter Kit: How to Prepare a
Restaurant Business Plan & Feasibility Study: with Companion CD-ROM. Atlantic
Publishing Company.
Godsey, J.A., 2020. Organic Restaurant Business Plan.
Jinhee, K., Minji, K. and Seungwoo, L., 2019. Investigating the Key Factors Affecting
Restaurant Startup Intention. J Entrepren Organiz Manag, 8(275), p.2.
PANFIL, D., 2018. Business Plan for a Startup Restaurant in London (Doctoral dissertation,
Vysoká škola polytechnická Jihlava).
Peters-Destéract, L.C.M., 2020. Innovative business plan for a brunch restaurant in Toulouse,
France (Doctoral dissertation).
Priskila, L.R. and Rina, A., 2019. Risk management for start-up company: a case study of
healthy kitchen restaurant and catering. Russian Journal of Agricultural and Socio-
Economic Sciences, 86(2).
Skrypnik, A., 2020. Business Plan for a Healthy Food Restaurant in Lappeenranta.
Wali, A., 2018. BUSINESS PLAN OF DIGITAL SERVICES FOR RESTAURANT IN
FINLAND.
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