Delicious Food Truck: Comprehensive Business Plan Report, London

This report outlines a comprehensive business plan for "Delicious Food Truck," a new venture aiming to provide high-quality, healthy food options in London, UK. The plan details the business model, emphasizing advertising and crowdsourcing strategies to attract customers. It assesses the entreprene...Read More

Enterprise and
Entrepreneurship-Task 1

Table of Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
Executive summary .........................................................................................................................1
The concept/Business Model ..........................................................................................................1
You and your team’s entrepreneurial competences.........................................................................2
The Market: PESTEL factors ..........................................................................................................3
Competition (Porter's five forces)....................................................................................................4
The product......................................................................................................................................5
Marketing the business:...................................................................................................................6
Sales and operations .......................................................................................................................6
Sales forecast ..................................................................................................................................7
Financial projections .......................................................................................................................7
Strengths and risks of the business .................................................................................................7
Closing summary ............................................................................................................................8
REFERENCE...................................................................................................................................9
APPENDIX 1 – POWER POINT (Pitch)......................................................................................11

INTRODUCTION
A business plan is considered as road map and structure which is used by management in
order to operate a manage a business. The plan states what are the objectives and how they can
be achieved in certain period of time. The management should analysis business performance
and activities which are important and implement the plans that can help to attain the business
goals (Katz and Green, 2018). The plan which is formulated by a person or entrepreneur should
be accurate, up to date and feasible that can help to operate and increase the performance. This
report is based on idea of that is newly venture that is Delicious Food Truck, will provide best
quality of food anywhere within different meal time. The management of such organisation will
formulate a business plan by involving all activities and financial performance that can help to
operate a business effectively. The aim of business is to fill the needs of customers and become a
leader in food industry. This report involves business model, team's entrepreneurial competence,
objectives, Market, competition, product, segmentation, sales and operation, sales and forecast,
financial projection and risk that arises in business activities.
Main Body
Executive summary
For running a business successfully, plan and strategies are important which is
formulated by a person and helps to increase the organisational profitability. This is a kind of
roadmap which states how activities and functions will be operated and how to attain the goals.
is a newly business venture idea that is going to be operate in London, UK. This plan will help
to fill the needs of customers specially for those who wants different taste and healthy food. This
venture will manage and operate the all functions appropriately and would fill the customers
demand. This will provide morning breakfast, lunch and dinner at different places for making
satisfied to customers.
The concept/Business Model
Business model is a description of how a business can help to make money and deliver
the value of organization for the purpose of increasing profitability. Every businessman who
have decided to establish a newly venture and make plans must be use business model that
support to increase the performance and profitability (Biech, 2019). The reason behind
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launching is people who loves travelling and students who studies are not getting qualitative
and healthy food so they have demand to such types of food. This idea knocked in mind and
decided to open a medium size restaurant in England. The business model which are used in
business plan that are as defined:
Advertising: This is major and old business model that will be use by marketing person
of by creating content and food blogs that attracts viewers and readers. The aim of using model is
to satisfy the two customer group such as viewer and reader that can help to make right buying
decision. The management of chosen organisation will use advertisement in order to inform
customers and selling them products (O’Donnell and Dahl-Popolizio, 2018).
Crowdsourcing: The another business model is crowdsourcing in where large number of
people contribute in organisational activities and functions which are important. In context to
Delicious Food Truck, management will source the crowd by offering variety of food and taste
that will attracts customers more (Hacklin, Björkdahl and Wallin, 2018).
You and your team’s entrepreneurial competences
To operate and manage the business, important thing is to have good team and skilled
workers who are playing an important role sand responsibilities in organisation for the purpose
of increase profitability. Team is important in every organisation that can help to understand the
goals and perform their roles and responsibilities effectively. In context to Delicious Food Truck,
entrepreneur is playing an important role strategist, performance evaluator, risk taker, organiser
and controller that can help to establish and operate a business. As me and my team member
have personal and workplace competencies that supports me to launch business. I am good in
risk taking, deceive thinking, and self motivated. My team is well in working collectively,
performing their roles and responsibilities and good in implementing the plans. In chosen
business, number of people are working as a team where management will be liable to assign the
role and and responsibilities as per their skills and experienced that will support to become a
good entrepreneur and would help to manage a business (Priem, Wenzel and Koch, 2018).
Objectives expressed in SMART terms
 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.
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 To attain the 40% profitability after paying all expenses.
The Market: PESTEL factors
For starting and establishing a new business venture there is need to analyse the market
that can help to know which factor can affect the business operation. Therefore, PESTLE
analysis in context to are as defined:
PESTLE DESCRIPTION
Political: This factor involves government regulation such as political
stability, tax rates, fiscal policy, import and export policy etc.
In UK, government is stable and supportive that provide proper
assistance to business venture to establish their business that
become an opportunity for Delicious Food Truck to launch
their business in London. As it will get support of government
and manage the all functions properly (Müller, Buliga and
Voigt, 2018).
Economical: When a business is going to establish, need is to analyse the
economical condition of country that can help to set the prices
and getting ideas to operate a business. Due to Pandemic
(Covid- 19), economical condition of UK and other countries
has been reduced where number of people are unemployment.
To improve the economic condition and increasing
employment rate SME businesses are contributing in high
range. Therefore, it can be opportunity for Delicious Food
Truck to establish their new venture by maintaining hygiene,
organic food and safety (Turner and Gianiodis, 2018).
Social: The current trend is changing and people are becoming more
health consciousness. Arising Pandemic in 2019 become
challenging task for business man to operate their business by
considering customers changed demands. Therefore, this can be
strong tapping idea for Delicious Food Truck in UK to offering
better quality and healthy food to customers as they wants that
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will help to manage a business effectively.
Technological: In today's modern era, technology is becoming part of people's
life that enhance the development. This make easier all
complex activities that become opportunity for to launch the
business and reach the target audience by using online
marketing. Moreover, it will provide home delivery and digital
payment services that will attract customers to buy products.
Legal: For running a business in particular country, important is to
understand their laws and regulation which can support and
assist in operation. By following UK's laws Delicious Food
Truck can operate and manage their new venture.
Environmental: This is the major factor that supports whole idea to establish
new organisation. By considering all environmental aspects that
protects from harm is providing variety of food products as
comparative to others. Moreover, Delicious Food Truck will
focus on reducing wastage of raw material and carbon effects
(Easterby-Smith, Thorpe, Jackson and Jaspersen, 2018).
Competition (Porter's five forces)
For launching a new venture, is important to analyse the competitor who exist in the
market that can help to make further plans to beat them. By using Porter's five force model
entrepreneurs of gets competitive picture of market as:
FIVE FORCES DESCRIPTION
Existing Rivalry This force states the competitors who are exists in market. In
UK, there are many restaurants and hotels who are also
providing food products and services. Therefore, a high threat
of competitor can face by Delicious Food Truck that can be
challenging point to run business.
Threat of Substitutes This means substitutes are those similar products that are
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competitive and can be replace with original products. The
threat of substitution is low in context to Delicious Food Truck
as no other organisation is available in market who provides
nutritious and healthy foods such innovative products at any
time (Snihur and Tarzijan, 2018).
Threat of New Entrant This means entrance of new businesses in market that can be
affect the existing operations. In UK, there is high threat of
new entrance that become opportunity for Delicious Food
Truck to comes up with innovative idea of nutritious and
healthy food in London, then no similar business will allowed
to enter easily. Thus, this can be supportive feature for
Delicious Food Truck to operate and manage the business.
Bargaining Power of
Suppliers
For providing and manufacturing better quality of products
there is need of quality material which are provided by
suppliers. In UK, there are many suppliers who sales their
product at different prices. Therefore, there is moderate threat
of bargaining power of suppliers for Delicious Food Truck
because may have other option to buy raw material at low
price (Gonzalez-Uribe and Leatherbee, 2018).
Bargaining Power of
Customers
Consumer's power to bargain is the last factor that will be low
in UK's market as is single one organisation that will provide
nutritious and healthy foods to travelling customers and
student that keep them healthy and satisfied. This happiness
assist Delicious Food Truck not to compromise with health
and quality that encourage customers to buy such innovative
food.
The product
This means item and services which is going to launch by company at different location
after understand needs and wants. This research is important for entrepreneur because this assist
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to bring a innovative products and services which has not come yet in the market. The idea
behind this new venture by offering nutritious, protein, and healthy food is increasing diseases,
unhealthy people, facing problem in travelling and today's youth as they are consuming fast
foods and other items that make them unhealthy, fatty and stressed person (Götz, 2020).
The name of product is Delicious Food Truck that significant a healthy, organic,
nutritious and tasty food, which will be cook for all ages people and mainly for teenagers who
are consuming fast food and inorganic food on regular basis. This product will attracts number of
customers as they will consume better quality and taste of food.
Marketing the business:
Marketing is the activity that uses by business entrepreneur in order inform customers
and launch the new products as well services. For this, STP is best tool that can helps in
spreading awareness in market. The STP of is defined below:
Segmentation: This the first step of market division where in whole population is divided
in to tiny groups by considering some characteristics and preference. In case of new venture that
is Delicious Food Truck have decided to segment the market on the basis of psycho-graphic that
covers interested people. The entrepreneur have evaluated market and get people wants and
interest that they are demanding health and organic food such organisation will be launch that
will help to operate a business successfully (BRuth-Islas, 2018).
Targeting: This step of marketing is uses to know its exactly targets that can help to
increase the organisational profitability. For organisation it is mandatory to know their potential
buyers and how to increase sales. Therefore, entrepreneur of Delicious Food Truck has identified
the target audience that is teenagers belonging to age group 15-60 years old who wants to get
healthy food (Matović, 2020).
Positioning: The final stage of segmentation is position that means placement of product
in existing market and new market that can help to increase sales. Therefore, Delicious Food
Truck is using social media, online marketing and other activities that can help to target the
audience and increase the performance (Azam, 2020).
Sales and operations
In business environment, sales and operation are considered as important activities that
vary from size and scope of business. For Delicious Food Truck, it can be challenging point to
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increase the sales and operation so management will use new technology and innovative process
in their organisation. This technology will help to reach the target audience and aware the
number of people regarding its its unique food that will help to increase sales and operation.
Apart from this management will offer online service other than physical which will attracts the
huge number of customers by offering them better quality and nutritious food (Heikkilä,
Bouwman and Heikkilä, 2018).
Sales forecast
This a tool which will use by in order to estimate the future sales. This can help company
to make informed business decision and predict short term and long term performance
(Skrypnik, 2020). The sales forecast of chosen organisation shows a projection of £ 100,000.
Financial projections
This is the activity and project which will be use by entrepreneur to manage their task and
activity according to budget which is set by manager by evaluating the performance. In other
words, an estimation of future financial outcome for a company or project, usually applied in
budgeting, capital budgeting and valuation which can help to operate a business. The Financial
projection of Delicious Food Truck is defined below:
Particulars Amount £
Rent £ 10000
Operational activities £ 20000
Raw material and other items £ 10000
Employees salary £ 50000
Technical services £ 5000
Management activities £ 5000
Total £ 100000
Strengths and risks of the business
Strength and Risk in businesses
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SWOT DESCRIPTION
Strength  Providing better quality, nutritious, and
organic food
 No existing competitor having in the market
 Using better quality and quantity of raw
material
 Having attractive and peacefully environment.
 No chemicals product will be use.
Weakness  Uncertainty about customer interest and
product effectiveness.
 Complex process to managing all functions.
 Lack of distributional channel.
 Lack of customer trust (Giri and Shrestha,
2020).
Opportunities  Maintaining proper hygiene, safety and clean
environment to cook and serve food.
 Using new technology and process to deliver
better quality of food.
 Having skilled and talented team members.
 Considering taste of all age people.
Threats  Changes in government regulations and
political environment.
 Continuous changes in customer's demand and
taste.
 Arising problem in environmental factors.
Closing summary
This is ending stage of business plan that covers a conclusion from the above discussion
which states business plan is a roadmap which formulated by a person in order to operate and
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mange their business. The idea of business plan introduce a pitch of new venture that can help to
launch a new product and service in the market. This plan covers environment analysis by using
PESTLE, competition by using porter's 5 forces, risk and strength by using SWOT, budget
estimation by considering financial projection and segmentation that can help to launch and
operate a business successfully.
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REFERENCE
Books and Journal
Katz, J. A. and Green, R. P., 2018. Entrepreneurial small business. McGraw-Hill Education,.
Biech, E., 2019. The New Business of Consulting: The Basics and Beyond. John Wiley & Sons.
O’Donnell, R. and Dahl-Popolizio, S., 2018. Business Entrepreneurship: The Integrated
Behavioral Health Business Plan. In Training to Deliver Integrated Care (pp. 143-159).
Springer, Cham.
Hacklin, F., Björkdahl, J. and Wallin, M. W., 2018. Strategies for business model innovation:
How firms reel in migrating value. Long range planning. 51(1). pp.82-110.
Priem, R. L., Wenzel, M. and Koch, J., 2018. Demand-side strategy and business models:
Putting value creation for consumers center stage. Long range planning. 51(1). pp.22-
31.
Müller, J. M., Buliga, O. and Voigt, K. I., 2018. Fortune favors the prepared: How SMEs
approach business model innovations in Industry 4.0. Technological Forecasting and
Social Change. 132. pp.2-17.
Turner, T. and Gianiodis, P., 2018. Entrepreneurship unleashed: Understanding entrepreneurial
education outside of the business school. Journal of Small Business Management. 56(1).
pp.131-149.
Easterby-Smith, M., Thorpe, R., Jackson, P. R. and Jaspersen, L. J., 2018. Management and
business research. Sage.
Snihur, Y. and Tarzijan, J., 2018. Managing complexity in a multi-business-model
organization. Long Range Planning. 51(1). pp.50-63.
Gonzalez-Uribe, J. and Leatherbee, M., 2018. The effects of business accelerators on venture
performance: Evidence from start-up chile. The Review of Financial Studies. 31(4).
pp.1566-1603.
Götz, J., 2020. Business Plan. In Seasonal Affective Disorder and Light Therapy (pp. 165-203).
Springer, Wiesbaden.
Ruth-Islas, K. D., 2018. Byer Square Business Plan: A New Vision for Aging.
Matović, I. M., 2020, June. Evolution of the Business Plan in Contemporary Business.
In Proceedings of the 17th International RAIS Conference on Social Sciences and
Humanities (pp. 71-76). Scientia Moralitas Research Institute.
Giri, S. and Shrestha, D. N., 2020. Business plan to establish a fusion café bar in Helsinki.
Skrypnik, A., 2020. Business Plan for a Healthy Food Restaurant in Lappeenranta.
Azam, S., 2020. NANU BARI: For People Who Love Desi Food–and Their Grandma: A
Business Plan.
Heikkilä, M., Bouwman, H. and Heikkilä, J., 2018. From strategic goals to business model
innovation paths: an exploratory study. Journal of Small Business and Enterprise
Development.
(Katz and Green, 2018) (Biech, 2019) (O’Donnell and Dahl-Popolizio, 2018) (Hacklin,
Björkdahl and Wallin, 2018) (Priem, Wenzel and Koch, 2018) (Müller, Buliga and
Voigt, 2018) (Turner and Gianiodis, 2018) (Easterby-Smith, Thorpe, Jackson and
Jaspersen, 2018) (Snihur and Tarzijan, 2018) (Gonzalez-Uribe and Leatherbee, 2018)
(Götz, 2020) (BRuth-Islas, 2018) (Matović, 2020) (Giri and Shrestha, 2020) (Skrypnik,
2020) (Azam, 2020) (Heikkilä, Bouwman and Heikkilä, 2018)
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APPENDIX 1 – POWER POINT (Pitch)
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