Enterprise and Entrepreneurship: Delicious Food Truck Business Plan

This report presents a comprehensive business plan for a new food truck venture, Delicious Food Truck, focusing on enterprise and entrepreneurship. It begins with an introduction to the concept of enterprise and the role of entrepreneurs, then outlines the business model, entrepreneurial team ...Read More

Enterprise and
Entrepreneurship-Task
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INTRODUCTION
Enterprise is undertaken as the process by which new businesses are developed in terms
of offer new products and services in market area. Moreover, entrepreneurs are those individuals
who start new business and also take risk which is associated with that particular business. It
depicts the significant business plan which is the prominent road map in order to manage and
operate business effectively. For this, management of company need to analyse the overall
business performance and significant goals. Furthermore, the plan is formulated by individual or
entrepreneur which should be up to date and also helps in terms of effective operations and
increase overall performance. The significant report is based on the business idea of freshly
established company named Delicious Food Truck who offer best quality food with wide variety.
Hence, the report covers the summary of business model, competence of entrepreneurial,
objectives, market, competition, product, segmentation, sales and operations and so on that arises
in business activities.
Concept of business model
Competence of entrepreneurial team
SMART Objectives
 The objectives of are defined by entrepreneur as;
 To provide the best quality and variety of foods in breakfast, lunch and dinner.
 To capture the market share by 10% in 2021.
 To attracts the huge number to customers by expanding at number of location.
 To attain the 40% profitability after paying all expenses.
PESTLE factors
Competition
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Product
Marketing the business
Marketing is undertaken as the activity which is used by the business entrepreneur and
also useful in terms of launching new products and concerning services. In regard of this, STP is
performed in which Delicious Food Truck tends to decide significant market segment on the
grounds of Psycho-graphic in terms of interested candidates. Furthermore, respective company
tends to target teenagers who belongs from the age group of 15-60 years and want delicious
food. Besides this, Delicious food truck also use social media, online marketing and other
activities that are helpful in terms of targeting their audience.
Sales and operations
Sales and operations is the effective factor for an organisation which is useful in terms of
marketing the product within the business environment. It is considered as the essential activity
that tends to vary from each and every size of business. In relation with respective company, it is
undertaken as the effective challenge that tends to point out for increasing sales and operations
so that administration tends to use new and fresh technology considering the unique procedure
for company. Moreover, this technology is helpful in terms of reaching towards the target
audience and also gets aware among the number of people undertaking the uniqueness of dish
which is useful in terms of enhancing the sales and operations.
Sales forecast
Sales forecasting is undertaken as the effective process which is useful in terms of
estimating the future sales. As it tends to enable company for making business informed
regarding the predicted performance of company. In terms of this, organisations can base their
forecast undertaking the past sales data, economic trends and industry wide comparison. This
tool is used in terms of estimating the future sales as it is useful for informing the business
decision and making effective assumptions regarding the long term and short term performance.
For this, sales should be forecasted as per the selected company that represent the projection of £
100,000.
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Financial projections
It undertake the activity and projects that are useful for entrepreneurs in terms of
managing the task and concerning activities according to the budget as it is set by the manager to
evaluate the significant performance. In regard of this, the estimated future financial result for
the company and project tends to apply on the grounds of budgeting and effective valuation
which is useful in terms of effective operation of business. Moreover, these projections are made
undertaking various steps like project for the spending and sales, create financial projections,
determine the financial needs, use the projections effectively, plan for contingencies and lastly
monitor. For this, effective financial projections of Delicious food truck is mentioned as under:
Particulars Amount £
Rent £ 10000
Operational activities £ 20000
Raw material and other items £ 10000
Employees salary £ 50000
Technical services £ 5000
Management activities £ 5000
Total £ 100000
Strength and risk of businesses
Considering this, the factors for strength include offering better quality and organic food.
No competitor in market and also use better quality of raw material and also have attractive and
peaceful business environment. In regard of this, the weak factors can become risk for company
which include uncertainties regarding the interest of customers and product effectiveness,
complicate procedure to manage significant functions, lack of customer trust and distributional
channel. Furthermore, effective opportunities include maintaining proper safety, hygiene and
clear environment, use effective technology to deliver better quality of food and also have skilled
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and talented team members. Lastly, threats include the significant changes in government
regulations and political environment which consider the significant changes in the demand of
taste and also arise issues in the environmental factors.
Closing summary
It depicts the ending stage of business plan that leads to consider the effective business
plan which is developed by the individuals in terms of operating and managing business. Along
with this, the business plan ideas tends to introduce the pitch for new venture which is helpful in
terms of launching a new product and concerning services in market. This plan tends to cover the
effective environmental analysis by undertaking the PESTLE, porter's five forces, strength and
risk by using SWOT analysis undertaking the budget estimation considering the financial
projection which is helpful to operate and launch business effectively.
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REFERENCES
Books and Journals
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