Entrepreneurship: Handcrafted Ice Creams Detailed Business Plan

This assignment outlines a business plan for a handcrafted ice cream venture, covering various aspects of entrepreneurship and new venture creation. It includes a description of the products and customer services, an analysis of the business environment using PEST analysis, and identification of the target market. The plan details sales and marketing strategies, personal management considerations, potential risk factors, and economic projections. It also incorporates a business model focused on training, support, progress evaluation, and adaptation to change. The plan aims to provide skills and knowledge for entrepreneurship and creating new ventures, emphasizing innovative product development and customer satisfaction.

BUSINESS PLAN -HANDCRAFTED ICE CREAMS

Table of Contents
Introduction......................................................................................................................................2
Products or services Description.....................................................................................................2
Analysis of Environment.................................................................................................................2
Marketplace for Products or Services..............................................................................................3
Strategies for Sales and Marketing..................................................................................................4
Personal management......................................................................................................................4
Risk factors......................................................................................................................................5
Economic projections......................................................................................................................5
Business Models..............................................................................................................................6
Conclusion.......................................................................................................................................7
Reference List..................................................................................................................................8
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Introduction
The new ventures for entrepreneurship and business are very exciting issues in case of business
practice. The implementation, improvement and research works for any kind of new business
ventures may be very difficult in case of the effect of financial conditions for any new type of
products. In this assignment a brief description for entrepreneurship and ventures for the business
purpose is provided below with different types of products and customer services where a proper
analysis of the environment of the organization. This assignment also includes different
marketplaces for innovative products and better planning for the sales along with the marketing.
A summary of personal management and several risk factors are also described below by
supporting them different business model with financial projections. The primary learning
outcome of this assignment will build different skills and knowledge for the entrepreneurship
and the creation of new ventures to gain the specific knowledge.
Products or services Description
Handcrafted Ice cream is taken here as the name of the organization. Products or customer
service management consists of a huge area of management actions for this company while there
is a different innovative concept for a new product or existing product to provide a dynamic
support to the consumers who will purchase this product (Kariv, 2013). The main product of this
company will be providing ice creams to the customers or to the retail stores of other companies.
As example, this organization will produce various types of ice creams like different flavored ice
creams to the retail stores and ice cream lovers. The various products of the organization can
make the customer’s mouthwatering. For this purpose, the company will manufacture different
flavored ice creams with different styles such as Honey and Mackie’s ice cream, Black cherry
chocolate chip, Chocó chips and many others. This can be considered as the main products of the
organization. In case of customer supports the company will provide the recipes for making new
type of ice cream to its customer for gaining the attraction of them (Khajeheian, 2013).
Analysis of Environment
The environmental analysis for this assignment on the Handcrafted Ice cream will help to
understand different factors as well as predictions of various trends of this particular industry in a
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much better way. The environment for this industry is consisted off stakeholders mainly by
whom the analysis will be done. Analysis for these all factors PEST analysis for the industry has
been implemented below:
Political Factors: In case of political factors
for this organization there are several factors
which have a huge impact on the
organizational environment that are legislation,
competition along with rules and regulations of
the organization (Fayolle, 2013).
Economic Factors: The economical factor for
this organization is one of the most important
factors in case of entrepreneurship and creation
of new ventures. In the time of changing the
share market along with the US dollar
exchanging the organization may face a great
problem.
Social Factors: The socio cultures of the
organization are very friendly. As the
customers loves to use, obtains well as
experience in different applications, the dress
code also have an impact on its environment.
The dress code of this organization is perfectly
matched with the atmosphere of this
organization which helps the hotel to design
specific signature dishes as well as dining in
the time of some traditional occasions.
Technological Factors: This factor also has a
great impact on the technological environment.
The outcome of the business is to increase the
use rate of net banking and many other
transactions and through this it become easier
for the customers to take a glance of all
products and maintenance services before
purchasing any products. The consumers also
obtain the review and ratings as well as the
recommendations of different customers by
choosing the various types of products as per
their demand.
Marketplace for Products or Services
Handcrafted Ice cream will provide its products and customer services by targeting the proper
market for business purpose where the consumers have their proper requirements (Schjoedt et
al., 2013). Through proper surveys and market researching the company can choose their target
markets for business. The pricing strategies for a new product and customer services for this
organization are also very important for the process of development and improvement. As
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example, if they planning to launch a new innovative product in the market they need to consider
firstly about the stocking procedure of the retailers as well as it will also help the organization for
the benefits of the professional marketers. For example, if the company making a new shopping
application they need to think about the requirements of the customers as well.
Strategies for Sales and Marketing
For creating a better planning for the sales and marketing procedure, the organization takes the
following steps:
 Developing marketing and sales planning: The Handcrafted Ice cream always make
their marketing strategy through proper planning by targeting the proper market for
business purpose and they always create their products based on their consumer’s
demands (Choi and Majumdar, 2014).
 Modifying and reviewing their consumer’s profiles: The managers and customer
support department of this company always review their customer feedbacks and they
always seek to modify their products in accordance with the customer feedbacks.
 Confirmation of their differentiators: The organization always tries to make their
product unique then the products of other organizations as well as they keep the proper
tracks of their rivals in the market.
 Review as well as organizing their marketing: The managers of Handcrafted Ice cream
always keep in mind about all the reviews of their customers along with organizing their
marketing planning.
 Online marketing: The organization creates their own websites for marketing purpose as
well as they try to update all the product details and customer services within the
organization that the customer can purchase their products after seeing the uniqueness of
their products (Schaper et al., 2014).
Personal management
Personal management may be identified through monitoring, using and sustaining a proper
satisfied workplace. It is always an appropriate portion of the management that is concerned
about the subordinates on the working purpose as well as their connections inside the
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organization. In case of the nature for the personal management in Handcrafted Ice cream it
consists of different factors of the employment, improvement along with the compensations.
These all factors can be performed by the individual management by taking the help of other
departments.
Risk factors
The financial outcomes of the group are subject to different risks and threats as well as
uncertainties that consist of different factors, which can properly affect the judgment of the
investors. Moreover, the statements include problems that are not very important to the risks and
threats, but it can be considered the most important procedure for evaluating investors from the
point of view of positive disclosure. The fall in the market may therefore lead to a decline in
product demand and an increase in production and inventory levels, as well as lower selling
prices (Kariv, 2013). As a result, market declines can reduce Group sales and reduce the
utilization rates, which in turn can lead to lower gross margins, which will ultimately lead to a
drop in earnings.
Economic projections
The financial planning process, regarded as a set of decision making instruments, includes three
core components such as income statement planning, preparing balance sheet and finally cash
flow statement plans.
The numerical outcomes of the economic planning method are three proper pro forma statements
(Khajeheian, 2013). Three-room proposed here is related to internationally accept of the
accounting principles. In case, the organization is financed by taking the help of venture capital
along with proper capital changes that are expected the presentation of capital, will lead to a
better understanding of capital events and transactions.
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Business Models
Fig: Business Model
(Source: Schjoedt et al., 2013)
Handcrafted Ice cream works on the above business model through which the workers can help
to achieve the organizational goal. The model consists of training, support, evaluation of the
progress, changes, and goals. In the training procedure the organization provide necessary
training to its employees for providing better quality ice creams for the customers as well as
creating new innovative products (Fayolle, 2013). . The various products of the organization can
make the customer’s mouthwatering through their different products such as Honey and
Mackie’s ice cream, Black cherry chocolate chip, Chocó chips and many others. In case of
support procedure, the organization provides the customer support and in the progress evaluation
procedure the employees of the organization helps to evaluate as well as advancing the
production rate. The change state of this business model depicts about the modification of the
products and changes of the organization which will help the organization to achieve the
organizational purpose.
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Conclusion
This task also includes various markets for innovative products and better sales and marketing
planning. In this assignment a brief description for entrepreneurship and ventures for the
business purpose is provided below with different types of products and customer services where
a proper analysis of the environment of the organization. A summary of personal management
and various risk factors by supporting various business models with financial projections are
provided above. The primary learning outcome of this task will create different skills and
knowledge for entrepreneurship and the creation of new companies to acquire specific
knowledge.
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Reference List
Choi, N. and Majumdar, S., 2014. Social entrepreneurship as an essentially contested concept:
Opening a new avenue for systematic future research. Journal of Business Venturing, 29(3),
pp.363-376.
Fayolle, A., 2013. Personal views on the future of entrepreneurship education. Entrepreneurship
& Regional Development, 25(7-8), pp.692-701.
Kariv, D., 2013. Female entrepreneurship and the new venture creation: An international
overview. Routledge.
Khajeheian, D., 2013. New venture creation in social media platform; towards a framework for
media entrepreneurship. In Handbook of social media management (pp. 125-142). Springer
Berlin Heidelberg.
Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small
business.
Schjoedt, L., Monsen, E., Pearson, A., Barnett, T. and Chrisman, J.J., 2013. New venture and
family business teams: Understanding team formation, composition, behaviors, and
performance. Entrepreneurship Theory and Practice, 37(1), pp.1-15.
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