Business Essentials: A Detailed Business Plan for Lawrence Coffee Shop

This report provides a comprehensive analysis of Lawrence Coffee Shop's business plan, focusing on the launch of a new coffee product. It begins with an introduction to business essentials and the context of the coffee shop, which operates as a partnership. The report outlines a new business idea, including unique selling propositions and competitor analysis, followed by the objectives of the business. It then delves into external factor analysis using the PESTEL framework, assessing the political, legal, social, environmental, technological, and economic impacts. The report further details the launch of an event, including event planning and a budget for the project, with specific line items such as venue, catering, advertising, and guest fees. Finally, the report incorporates various marketing concepts relevant to the business. The report concludes with a budget analysis highlighting the financial aspects of the event and the overall business strategy.

Business Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Part A .........................................................................................................................................1
A new and innovative business idea for implementing a new project .......................................1
Part B...........................................................................................................................................2
Objectives for a new business idea............................................................................................2
TASK 2............................................................................................................................................3
External factor analysis for a business........................................................................................3
TASK 3............................................................................................................................................5
Part A..........................................................................................................................................5
Defining to launch an event.......................................................................................................5
Part B...........................................................................................................................................5
Preparation of a budget for a project..........................................................................................5
TASK 4............................................................................................................................................7
Use different marketing concepts into business firm..................................................................7
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
In current time, business essentials is an mandatory concept for every organisations
because in which carried out different factors and things which may be beneficial to the
implement a new business idea in the action. With the help of this easy to operate and run their
enterprise in the competitive market place. Generally, this report is totally based on Lawrence
coffee shop which wants to be launch a new coffee product in the market. Basically, it is an new
venture which working in the partnership style because it needs more funds to survive. In this
study, will be choose an appropriate objective for developing an business plan also will be used
PESTEL analysis tool for analysing and examining major factors of the environment. Therefore,
systematically will be demonstrating to launch an event and preparing a effective budget for the
project. At the last, will significantly use different marketing concepts in the context of selected
firm. (Hair, 2015)
TASK 1
Part A
A new and innovative business idea for implementing a new project
Lawrence coffee shop seeks to be start a new branch of coffee shop in which they wants
to be launch a new effective product for customers. This coffee is established at the Park London
Street of UK thus, its managers or employers systematically evaluated their major competitors
and which pricing strategies they are using in their business for deciding the price of their
services and foods.(Wilson, 2014) Another main thing is related to the home delivery procedure
of the firm in which managers systematically allocate the products and goods to customers as per
their order and decided time period. Generally, there are two major causes such as Unique
Selling Proposition another one is placing orders effectively. At the last, there are elaborating
different number of products which offer by Lawrence coffee shop to their clients such as:
 World coffee
 Ginger Mojito
 Chocolate iced
 Gourmet coffee etc.
However, any business firm not only focus on better quality of products but also they
concentrate on to use healthy and effective items so that they will not harmful for health of users.
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Due to this, employers of the selected company providing some sugar free food items which can
be buy from those clients who are suffering from diabetes. Furthermore, within the competitive
market place has included different major competitors which all are have to be identified by
managers of the organisation for developing strategies and plans. Hence, it will support to
enhance profitability and productivity of the company due to this they also get success in the
external environment. (Hsu, 2011)
Major Competitors Unique Selling Proposition
Colonna & Small In the context of this competitor, it has smart
and attractive interiors so that they can easy to
attract and target high number of customers
towards firm.
Kaffeine This company of Mango muffin and Chocolate
Brownie are two best and tasty products. Apart
from this, chocolate brownie also offered in
sugar free to diabetes customers.
Coffee Aroma At the last, this is also an major competitor
prices of its products is so reasonable
additionally it is established in the Middle of
London due to this customers are easy to attract
towards this firm.
Part B
Objectives for a new business idea
The selected organisation will get start their firm as a partnership firm in which included
two partners which are friends of each other. Both persons used their profit and loss
systematically divided among them so that burden not only on single person. Therefore, this
aspect will support to them for taking appropriate decisions in the critical situations. Hence, there
are representing two major successful partnership firms of UK like:
 Marks and Spencer
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 McDonald
These both organisations are successful run in the competitive market place from them
one is related to the food sector and another one is a leading retail store of UK. Hence, Lawrance
coffee shop get run their business firm through two persons whom seeks to be enhance their
working skills and capabilities. (Woiceshyn, 2011)Meanwhile, this company has some objectives
and targets which they wants to be attain in future such as:
 To provide better quality of services: Lawrence coffee shop focus on to provide high
quality of products and services to their customers so that they can easy to attract high
number of consumers towards firm. Due to this, respectively enhanced revenue of the
company.
 To increase profit: Another one objective of Lawrence coffee shop is to improve
profitability due to this it wants to be provides several attractive offers to clients and
focus on their health so that they can make trust on this company.
 To develop a customer base: Lawrence coffee shop seeks to be get attention from large
number of clients in order to this employers of this firm targeting on large number of
group of users mostly those persons who belongs to middle and lower level family
additionally deliver sugar free items to clients. (Sherry and Canon, 2014)
TASK 2
External factor analysis for a business
In the business environment included several factors which might be impact on working
performance and quality of employees. Therefore, it is necessary to be analyse and evaluate all
major factors of the business environment with the help of suitable methods and techniques due
to this employers can systematically implement the strategies in the action as well as get more
appropriate outcomes. Along with this, managers of the Lawrence coffee shop can use PESTEL
analysis tool for examining the environmental factors.
BASIS IMPACT IMPORTANCE
Political: Government of the
country has power to make and
implement several polices
which have to be followed by
Lawrence coffee shop have to
be develop better and effective
decision with the political
party of UK for managing and
This factor helps in
development and growing of
company also with the help of
this employers can change
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every person of the nation.
Sometimes its taking place in
an boundary line for people.
implementing strategies in the
action before changing and
fluctuation taking place.
their framework and system
without using more time.
Legal: In which concluded
legal terms and rules such as
secure the rights of employees,
employers and customers
which also have to be
followed.
HR manager and assistant of
Lawrence coffee shop have to
be effectively take care about
every legislations and laws
which were enacted by
government and legal
authorities of the country.
It is necessary to be take care
about rules and legal
regulations of by the
employers of the shop so that
they will get better results and
outcomes.
Social: Every business firm
have to be adopt and analyse
culture, values and ethics of
the society then have to be
effectively prepare appropriate
strategies which will not going
to harm to the social practices.
Lawrence coffee shop should
produce better and high quality
of products for customers so
that they can take care about
health of service users. This
aspect will effectively impact
on their working performance
and quality.
Necessary to performing and
take care about society and
their persons which will lead
to them for getting success and
attaining decided goals and
objectives.
Environmental: It can be
carried out as the essential
scenario in which included
business activities and
operations.
Lawrence coffee shop can use
the PESTEL analysis tool for
analysing and examining the
environmental factors and
causes.
It is mandatory for selected
company should be evaluate
external and internal causes for
managing and increasing
working performance.
Technological: Basically,
technologies are plays very
important role because in order
to produce products and goods
for customers with better
quality.
Lawrence coffee shop should
use smart and advance
techniques to made a positive
impact on company so that
they will make high quality of
goods.
Importance of technologies is
order to make and produce
products in the corrective and
appropriate manner.
Economical: At the last, Economical conditions of the Lawrence coffee shop have to
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employers of the firm have to
be consider and understand
economical activities and
things because they are
uncertain in the nature. With
the help of this they will get
more and effective results and
outcomes.
country largest affect on
business firm in which
included inflation rate,
exchange price, taxation
system and so more.
be select suitable and
applicable economical pricing
method because which positive
impact on company.
TASK 3
Part A
Defining to launch an event
Lawrence Coffee shop wants to launch an event which enable them in order to reach with
more and more number of customers. This event is helpful for them in order to bring and make a
social interaction with their customers. This event get incorporated off site in which business
choose sea beaches for their event.(Arasti, Zandi and Talebi, 2012) Moreover, managers have to
organise this on weekends because it is a only time when many localise people want to spent
their leisure time with their families, friends etc. Moreover, chances of such event become more
appropriate and successful at such consent when a famous celebrity come into it and launch this
new coffee shop. For this, business managers invited Rita Ora as she is one a youth icon and
many youngsters are a die hard fan of her. Moreover, Lawrence management also have to
provide free samples of foods and products so that more and more people get aware about quality
of their products which lead to support in future context. Managers also have to facilitate
appropriate security facility as a famous international singer is coming and promoting a small
coffee shop.
Part B
Preparation of a budget for a project
This big event by Lawrence Coffee shop require an appropriate budget plan in which they
lead to include all their investment and expenses properly so that they are going to incorporate
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such event properly.(Kimbell,2011) This budget for Lawrence Coffee shop includes various
basic essentials which really needed for implementing a project:
Particulars
Event
launch
Amount 140000
Elements for
event Cost
Venue 1000
Catering 5500
Advertising 200
Decoration 150
Transportation 200
Anchor 300
Guest 50000
Table 20000
Chairs 5000
Equipment 20000
Corporate social
responsibility 10000
Total 112350
Net position 27650
Budget available and the saving from event are as follow:
Budget available
Expenditure 112350
Remaining 27650
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The major expenditure for this event is 112350 which stated that not overall money get
incur on this project. On the other hand, sufficient cash balance get maintained by an
organization through appropriate cost cutting on appropriate and suitable areas which is 27650.
TASK 4
Use different marketing concepts into business firm
 Marketing objectives: Lawrence coffee shop make their marketing objectives and goals
which they wants to be achieve in future due to this employers of the firm can use
SMART objective tool. In the context of this, business firm decide their targets in which
they seek to deliver high quality of services to their clients as per their order so that they
can raise their profit by 10 to 15%. Therefore, the effective target measurable in order to
lead to reach decided goals in an systematic mode. At the last, it is corrected with
different business operations and activities because it is newly established firm in the UK
within starting 6 months. (Naris and Ukpere, 2010)
 Target market: Lawrence coffee shop is targeting all major segments of the market
place whether they are large, medium and small business. It aids to managing the
profitability level of company as well as increase the level of customers. At the last, both
these aspects are included in the objectives of company so that they will receive better
outcomes and results from the competitive market place.(The Marketing Mix 4P’s and
7P’s Explained, 2017)
 Marketing strategies: Business firm can adopt and use social media strategy within the
organisation with the help of this they can reach young person who belong to small and
medium class family. Basically, it is a form of new marketing technique which is use by
most of the organisation for attracting high number of clients additionally through this
management can lead and communicate with users. (Singh and Khanduja, 2012)
 Marketing mix: Generally, marketing is an important concept for every type of
organisations because in which included 7p's of marketing such as product, price, place,
promotion, process, physical evidence and people. With the help of this marketing aspect
company can get success and attain their decided goals and objectives in an systematic
style. Meanwhile, there are defining all these marketing terms in the context of Lawrence
coffee shop such as following under :
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Illustration 1: Marketing mix
(Source- The Marketing Mix 4P’s and 7P’s Explained, 2017)
Element Description Justification
Product Generally, a product of a
company is a good and service
which order to give their
customers as per their order so
that they will get satisfaction
towards their needs. Generally, it
is an important thing for
company because without
products that cannot be get
success and enhance their profit.
Lawrence coffee shop
provide better and high
quality of products and goods
to customers additionally
they also offers sugar free
items to clients for giving
satisfaction to them.
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Price This is the another one term of
marketing mix which aids to
define cost of products as per that
employee deliver their services to
clients. With the help of this
customers can easy to
differentiate among several
company's same products.
(Mendling, Recker and Reijers,
2010)
Prices of products are totally
based on their brand name,
quality, quantity, size and so
more.
Place The company's products are
going to be offline to clients.
Further, this organisation not
using and adopting on line
facility but it have an online page
where customers can easy to
visit.
Lawrence coffee shop has
been chosen central location
or area of London for their
coffee shop due to this they
can run their business firm at
Park Street London.
Promotion
Should be use smart and
attractive promotional tools and
techniques because with the help
of them they can promote their
services and increase awareness
across all over the world.
Lawrence coffee shop use
smart social media tools and
print media as well for
promoting their services.
People
It helps to elaborate about every
persons who related with the
business activities and operations.
This aspect based on
customer satisfaction level
which is targeted on external
stakeholders of the company.
Process It is compulsory must be choose
effective and smart process so
It using smooth and advance
process of delivering
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