Developing a Business Plan for Fresh and Healthy Restaurant

This report presents a comprehensive business plan for a new vegan restaurant venture, 'Fresh and Healthy,' located in Glasgow, UK. The plan includes an executive summary, introduction, and detailed sections on business details, products and services (specializing in vegan options like burrito bowls and soba noodles), and a thorough market/industry analysis using Porter's Five Forces. The report also covers the restaurant's unique selling proposition (USP) and competitor analysis, an operations plan, risk and contingency planning, sales and marketing strategies, a finance and funding plan, and team management considerations. The plan emphasizes the importance of advanced technologies, such as digital payment options, and eco-friendly packaging to attract health-conscious customers and create a positive brand image. The report concludes with references to relevant academic literature.

Entrepreneurship and
Business

EXECUTIVE SUMMARY
Entrepreneurship an act of being an entrepreneur in which an entrepreneur creates new
business, generate new ideas and introduce new products and services and business procedures.
By the use of skills and great initiative an entrepreneur plays a significant role in economies. It is
one of the resources economist classify as integral to manufacture, the other thing being labor,
land or natural resources and capital. By combining three of them together to produce new
products and services in the market which typically required to create a good business plan,
acquiring resources, labor as well as funding of financing and significant leadership and
management skills for the business.

Table of Contents
EXECUTIVE SUMMARY.......................................................................................................................2
INTRODUCTION.....................................................................................................................................4
MAIN BODY.............................................................................................................................................4
TASK..........................................................................................................................................................4
Business Details......................................................................................................................................4
Products and Services..............................................................................................................................4
Market / Industry analysis.......................................................................................................................5
USP AND Competitor analysis...............................................................................................................6
Operations Plan.......................................................................................................................................7
Risk and contingency plan.......................................................................................................................7
Sales and marketing strategies.................................................................................................................8
Finance and funding plan........................................................................................................................8
Team management...................................................................................................................................9
CONCLUSION..........................................................................................................................................9
REFERENCES........................................................................................................................................10
Books and Journals:...............................................................................................................................10

INTRODUCTION
Entrepreneurship is an activity in order to become an entrepreneur. Entrepreneur is a
person who create and develop new business, enjoying most of the profits and bearing risks from
the business (Bishop, P., 2019). Entrepreneurship is a term or a concept in which a new business
venture is created and developed in order to gain profits by taking several challenges in the
corporate industry. A business venture is a formation of new business which includes plan and
expectations that makes money for the entrepreneur and encompasses with lots of things. The
report is going to prepare on developing a new business plan which will be created by the
entrepreneur. A business plan is understood as a written document which helps to run a business
smoothly, which defines core activities of business, objectives and plans to accomplish the
corporate goals. A good business plan should include an executive summary, market strategy and
its analysis, product and services, budget and financial planning.
MAIN BODY
TASK
Business Details
The new business will be recognized with the name of “Fresh and Healthy”.
This is a new business for restaurant which will be established in Glasgow, United
Kingdom. It will be specialized in vegan foods and products which purpose is to provide lots of
vegan and healthy food products in order to increase the healthy lifestyle and organic food to be
consumed by customers. The restaurant will intended to serve lots of varieties of vegan dishes
that will meet the needs of customer who are health conscious and it will always focus on
increase the demands by customers. As this is a new business will also followed government
guidelines and rules in order to serve food to the customers in a healthy and productive way so
that they provide services like dine in or take away or online services. This venture will use
fusion concept to prepare foods that can bring creativity and innovation so that food will be more
attractive and appealable to the customers. The restaurant business desire to serve as much as
tasty and healthy foods that will meet the demand and satisfaction of customers. The new
business venture will also focus on to use advanced technologies that will make business easy
and secure such as digital payment options that will save valuable time for both customer and
organisation and it will make payment more hassle-free.
The location of business will be at 9, Shepford Place, Glasgow, United Kingdom.
Products and Services
The restaurant will be serve dine in, take away or online services through which they can serve
various customers at a single time and meet the level of specialization in the market (Bullough,
A. and Et.al., 2019). As it is a new business it is also focus on to provide online payment services
through which they can deliver contactless services in order to meet the guidelines of covid-19
situation. For the menu the products will be delivered by the restaurant are as follows:-

“Fresh and Healthy”
Menu
Black Bean, Kale and Spaghetti Squash
Burrito Bowl
Avocado Burrito Bowl
Carrot Soba Noodles and Sugar Snap Pea
Crispy Baked Falafel
Market / Industry analysis.
“Fresh and Healthy” restaurant must ensure that their business must be established
according to the surroundings so that they can assist enforcing and developing useful strategies
for the business in advance. Porter five forces model is very effective to analyze the market or
industry which includes threat of substitute products, threat of new entrants, power of supplier,
power of buyers and competition or rivalries (Chivu, L., 2019). In context to Fresh and Healthy,
it is an effective to that helps to understand about the competition within the target market. This
will also give reliable suggestions to adjust the strategies that will suit according to the
competitive environment and to enhance the potential profit for the new venture. With the help
of this model company will be beneficial to identify its employer’s shortcomings and blessings.
Porter's five forces model applied principles of macroeconomics to corporate strategies and help
to analyze the strategic needs of the industrial sectors. It will be helpful to analyze their strengths
and weaknesses of the position of company and how they impact the long-term profitability of
the business.
Threats of substitute products: In restaurant industry, there are various companies in
the market which serves similar products and services. It is very easy that customers move from
one restaurant to another while making a choice. One of the major factor is low cost that it is
easier for a customer to switch their brand loyalty from another. As it is a new business venture it
is focused on the premium price through which a customer can get amazing dine and quality in
their experience. In order to attract customers, a restaurant must make strategies to create
attractive advertisement and marketing campaigns which food create rigid competition in the
market.
Threats of new entrants: Fresh and Healthy restaurant is a new business which requires
huge investment in order to make easy entry in the industry. Another factor which could impact
to the ease of entry is economics scales for new restaurant, once it is established in the market
and achieve efficiencies within its production and it is also important for the new business to
consider the operating and fixed cost in order to ensure that they are able to get benefits from
them. Most ingesting locations use tremendous locations, offerings, facilities, extraordinary
views and complementary services in order to meet the distinct identity (Dal Mas, F. and
Paoloni, P., 2019). This suggests the customers that restaurants emphasis values to their cash.

Bargaining Power of buyers: Bargaining power of buyers is an important factor to
consider because it holds the power that influences decisions regarding pricing of organisation.
As it is a restaurant business it is also get affected by the choice of buyer and their switching
behavior. The organisation must be focused on the prices and adjust their prices as per the needs
of customer that can be easily affordable by them.
Bargaining power of Suppliers: In the restaurant industries the suppliers are the one
who provide raw materials to the business. There are countless number of suppliers in the
restaurant industries which determine the bargaining power in the purchase decisions. The size of
the restaurant is also determine when it comes to point of bargaining with suppliers (de la Hoz-
Rosales, B., Camacho-Ballesta, J. A. and Tamayo-Torres, I., 2019). As it is a new business
venture, the bargaining power of supplier is high because it is a new in the market and have to
place bulk orders to them.
Competitors: When the restaurant industry have huge number of competitors, the
competitive rivalry would be more intensive. The restaurant industry have an increasing number
of competitors who owns similar services in their establishments. The reason of increasing threat
of rivalries or competitors is due to its products converting purchase behavior, rising charges of
commodities, growing number of competitions and many more. The restaurant business have
many options to make menu alternatives, cleanliness, offerings, necessitates, trends of food in
terms of information related to health and fitness. The eating places of organizations must have
manipulative structures which creates distinctiveness in terms of achieving the factors.
USP AND Competitor analysis
Unique selling proposition or USP is a wide term that a restaurant business is used to
explain its uniqueness in order to compare to other competitions (Guiso, L., Pistaferri, L. and
Schivardi, F., 2021). It is considered as a differentiator that makes a restaurant special and
unique in order to provide its services or products. They mention unique items in their menu, low
prices, ambiance or funky decor. It is something that customer gets attracted and don't get switch
to any other restaurant in the same service industry. It is very important for the business because
it makes customer to keep coming back to their business. In context to Fresh and Healthy
restaurant, it will focus on to promote its vegan products and services and create awareness about
its benefits that will be helpful to a person's healthy life. The major target customer of restaurant
is a person who is self-conscious about his health. Restaurant is also focused to deliver products
in ecofriendly packaging or packaging that can be recyclable to use (Feldmann, M., Lukes, M.
and Uhlaner, L., 2020). It will be helpful and motivated towards a sustainable environment and it
is a great initiative to attract more customers towards the restaurant. The main objective of
restaurant business is to create cordial relations with their customers and build their loyalty
towards brand as well as creating a positive brand image in the restaurant industry.
Competitor analysis is analysis which helps organisation in the similar industry and help to
compare its performance with their abilities and create opportunities that makes clear
differentiation with the products and services in the target market. It is always focus on creating
strategies regarding advertisements marketing campaigns in order to create positive brand image,
achieving the target market (Stoica, O., Roman, A. and Rusu, V. D., 2020). Competitor analysis

supports a business in order to determine the USP of the brand and consider its strategies and
tricks which are followed by many other existing organizations who operate their business in the
same industry. It has been studied that the vegan food services is increasing day by day in the
UK and people are more aware and concerned about diet food and cruelty free food and makes
preferences and choices accordingly. It also has been considered that the industry is sharing 4%
of the vegan food market and has bring up many other alternative food products (Skute, I., 2019).
With the help of competitor analysis is determined several factors which are:
 Identifying existing competitors in which it helps organizations to identify rivalries in the
target industry which are already offering same services. Such recognitions supports a
business to getting a better insight of rivalries and may know how to compete in the
market in better way.
 Determining sales and marketing strategy of existing competitors will help a new
business venture in order to analyze the techniques and tricks which are followed by such
competitors in order to attract more customers as well as in order to target them with
various approaches that will be followed by a new restaurant business in order to meet
the customer demands which helps a business to be more profitable and successful.
 Identification of products and services of competitive companies is another major factor
which should be examined in this analysis (Hechavarria, D. and Et.al., 2019). It will be
helpful to determine the product and services of the company that will meet the demands
of customer and to satisfy in a most efficient manner.
 It is also important to determine the price of product and services of competitive
organizations will provide a better understanding in order to set the prices of new
products and services in the organisation.
Operations Plan
With the reference of Fresh and Healthy restaurant, the operations and managerial
activities will be strategic planned in order to succeed in the market and achieve higher level of
rewards for the organisation to sustain for a longer period of time. An entrepreneur will perform
several operations in order create succession for its business, which are mentioned underneath-
Strategy plan: It is considered as one of the major operation which is performed by entrepreneur
in order to identify and set the desired standard and goals which must be attained by the business.
The strategic plan will help to the new venture to plan all the operations in an effective manner
which creates positive brand image in the industry.
Monitoring and controlling: An entrepreneur is also performing the activity of monitoring and
controlling all the operations in the business, which will be assist them to recognize its growth
towards the achievement of predetermined objectives of business.
Resources: Resources are one of the most important factor which will be used by the business
and will be managed in a proper manner so that wastage and excess usage of resources can be
avoided. It involves resources like financial and non-financial resources which must be
continuously monitored and controlled through which the performance will be reviewed of the
business.

Risk and contingency plan
It is essential for the new business venture to prepare for the worst situation (Manninen,
A. and Meristö, T., 2019). It is better have backup plan or risk management plan that helps to
reduce the possibility of a serious liability lawsuit or accident by conducting a risk analysis for
restaurant. It is a juggling act when a new business owner try to create profitable food business
(Welter, F., 2019). It will need new and fresh purchases of ingredients, create mouthwatering
options for menu and keep updated the information about market. But even if a new business
have all the information and raw ingredients for the success of its business, there is a chance
even for a single accident that close the door for worthy. Risk and contingency plan attempts to
decrease the chances of occurring. It is advanced implemented by the companies that reduces the
impact. In context to Fresh and Healthy restaurant, risk and contingency plan only be developed
for identified risk and unknown or unidentified risks. This plan also be developed to take benefits
from strategic opportunities. As it is a new business venture it is important to all the business
very carefully, it records customer information such as, personal details or credit card numbers
on a point of sales device or computer device, the company is at risk of cyber theft (Kimmitt, J.,
Muñoz, P. and Newbery, R., 2020). But on the other side it can be used as a safeguard but for the
business by considering antivirus software, password protection for Wi-Fi network and many
other things can be improved.
Sales and marketing strategies
There are several number of strategies related to marketing and sales that might be used
by companies in order to provide digital services. In context to Fresh and Healthy Restaurant,
there are strategies available for sales and marketing in order to become digitally specialized
which are mentioned underneath:-
Email advertising: Being digital advertising, practicing email advertising is a great option in
order to retain current as well as existing customers (Pardo, L. A. H., Surita, N. T. and Farroñán,
E. V. R., 2020). It is proved to be in influential approach that helps to create awareness about
current products and services and encourages towards its purchase.
Hiring great employees: It is important to have skilled and talented employees for the new
business venture that can be effective for the sales and marketing as well. It must have minimum
qualification that will be likely to use in improvement and encouraging social media platforms
and its channels in a very clean way. It is a great idea to post advertisement through social media
platforms like LinkedIn to hire talented employees in order to get success and growth to match
with expectations.
Finance and funding plan
The finance and funding plan helps a new business venture to outlines the requirements
of future funding for its company (Passiante, G., 2020). In order to get financed it is important to
mention name and nature of the organisation, its owner, location, target audience, service and
product to be provided and many more. For digital organizations, a financial plan can be created
by considering some of the factors which are mentioned underneath:

Financial potential: An organisation how far and smooth can run in the market will depend on
its current investment, current savings and its ability to save for the future. It is important to pay
attention on financial process if an organisation wants to go longer in its journey.
Spending behavior: It is totally depend on the spending. It is important for the future financial
goals for an organisation to determine its daily spending in order to create bright future.
Break even analysis: Break even analysis helps to provide a significant knowledge about how
many products must be sold to cover the costs of fixed and variable. It is considered as a measure
of margin of safety.
Balance sheet: It is a summarization of all the assets and liabilities of business which determines
a basis for figuring rates of returns and evolution of capital structure.
Team management
Managing team members is very important for the new business venture which involves
communication, teamwork, performance appraisals, and objective setting. In context to Fresh
and Healthy, they appoint a team manager which plays a role of a leader that guides its team in
the daily functions of company and responsible for day to day activities and helps to guide and
direct his team members (Nastase, C. E., Butnariu, A. R. and Lucaci, A., 2019). His major
function is to set targets, implement guidelines, and help members who face any issues. As it is a
new business venture, there are numerous factors which have to be keep in mind while managing
team:-
 Trust among team members: As it is a new business venture it is important to build
trust among team members. If trust is not there or lacking a team leader is responsible to
open up and communicate with other team members and build trust among them and
expose their fears and weaknesses to each other that helps to grow.
 Learn to commit decisions and plans for action: When team members are committed
to team decisions this will result as a team result which includes definite action plans. If
team members are not reliable with their promises it will not succeed.
CONCLUSION
From the above report it has been concluded that entrepreneurship is a specific skill
which is required to develop a new business venture which includes ability to take risk and create
opportunities for their business. When a new business venture is created it is important to
determine internal and external factors of business environment that will also help to create
opportunities and take necessary actions to overcome threats. As restaurant business it has a huge
competition in its market. It is important to identify competition and its competitors by using
competitor analysis which helps business to formulate strategies and take appropriate decisions
that will help to create a goodwill in the market.

REFERENCES
Books and Journals:
Bishop, P., 2019. Knowledge diversity and entrepreneurship following an economic crisis: an
empirical study of regional resilience in Great Britain. Entrepreneurship & Regional
Development, 31(5-6), pp.496-515.
Bullough, A. and Et.al., 2019. High-growth women’s entrepreneurship: Programs, policies and
practices. Edward Elgar Publishing.
Chivu, L., 2019. Local entrepreneurship and social services in Romania. Territorial
analysis. European Research on Management and Business Economics, 25(2), pp.79-86.
Dal Mas, F. and Paoloni, P., 2019. A relational capital perspective on social sustainability; the
case of female entrepreneurship in Italy. Measuring Business Excellence.
de la Hoz-Rosales, B., Camacho-Ballesta, J. A. and Tamayo-Torres, I., 2019. Effects of
innovative entrepreneurship and the information society on social progress: an international
analysis. Entrepreneurship and Sustainability Issues, 7(2), p.782.
Feldmann, M., Lukes, M. and Uhlaner, L., 2020. Disentangling succession and entrepreneurship
gender gaps: gender norms, culture, and family. Small Business Economics, pp.1-17.
Guiso, L., Pistaferri, L. and Schivardi, F., 2021. Learning entrepreneurship from other
entrepreneurs?. Journal of Labor Economics, 39(1), pp.135-191.
Hechavarria, D. and Et.al., 2019. High‐growth women’s entrepreneurship: Fueling social and
economic development.
Kimmitt, J., Muñoz, P. and Newbery, R., 2020. Poverty and the varieties of entrepreneurship in
the pursuit of prosperity. Journal of Business Venturing, 35(4), p.105939.
Manninen, A. and Meristö, T., 2019. Supporting SME Innovation, Growth and New Business
Development by Regional Entrepreneurship Model. Responsible Innovation and
Entrepreneurship.
Nastase, C. E., Butnariu, A. R. and Lucaci, A., 2019, May. Assessment of entrepreneurship and
innovation in newcoming Romanian entrepreurial universities. In Proceedings of the
International Conference on Business Excellence (Vol. 13, No. 1, pp. 969-982). Sciendo.
Pardo, L. A. H., Surita, N. T. and Farroñán, E. V. R., 2020. Public investment: contributing
factor for growth and entrepreneurship business. Universidad y Sociedad, 12(2), pp.350-355.
Passiante, G., 2020. Innovative Entrepreneurship in Action. Springer.
Skute, I., 2019. Opening the black box of academic entrepreneurship: a bibliometric
analysis. Scientometrics, 120(1), pp.237-265.

Stoica, O., Roman, A. and Rusu, V. D., 2020. The nexus between entrepreneurship and
economic growth: A comparative analysis on groups of countries. Sustainability, 12(3), p.1186.
Welter, F., 2019. The power of words and images: towards talking about and seeing
entrepreneurship and innovation differently. In A research agenda for entrepreneurship and
innovation. Edward Elgar Publishing.