Business Growth Plan and Financial Analysis: Catering Services Report

This report provides a comprehensive analysis of growth strategies and financial planning for the "Don't Go Anywhere Catering Services." It begins with an introduction to business growth plans and their importance, followed by an in-depth examination of key considerations for analyzing growth opp...Read More

Planning for Growth

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Key considerations for analysing growth opportunities in relation with the establishment........3
Identification of growth opportunities by making utilization of Ansoff Growth Matrix............5
Critically evaluating financial growth option and source of funding:.........................................6
Critically appraisal of the exit or succession option available with the business organization
and benefit and drawback for each option:..................................................................................7
Justified recommendation for the business:.................................................................................9
Business plan in the context of the firm “ Don't go anywhere catering services”:....................10
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Business growth plan is the company's framework that includes the objectives, plans and
strategies for the achievement of the business goals. This plan take over the span of a year or two
year (Cirillo, and et.al, 2020). Companies implement short term plans with the strategies that
helps the business to figure out the future success in each business sector of the firm.
Organization like Don't go anywhere catering services can use the different strategies like market
penetration, market development, product development and the diversification for the growth of
their business in the competitive run. Further report based on the firm Don't go anywhere
catering services will be quoting the growth plan of the business and the business plan of the
organization. The report will also show about the analytical framework influencing the business
in the competitive run by using the different models in the study commenced on the business of
Don't go anywhere catering services.
MAIN BODY
Key considerations for analysing growth opportunities in relation with the establishment
There are varied things that has been highly considered by the manager of Don’t Go
Anywhere Catering Services especially at the time of analysing and evaluating numerous growth
as well as expansion opportunities that are easily available in external atmosphere. The company
deals into providing services to high quality suppliers which include food and beverages items
(Sell and et.al., 2018). The areas that are required to be considered by the manager of the firm at
the time of planning for development as well as expansion of the business has been illustrated as
below:
 Competitive advantages: In order to understand the ways within which the Don’t Go
Anywhere Catering Services are able to retain or gain its competitive advantage
specifically in external environment has been explained with the help of using VRIO
model such as:
Resources Value Rare Imitable Organize
Human
resources
Yes No Yes Yes

Products and
services
Yes No Yes Yes
Technology Yes No Yes Yes
Brand image Yes Yes No Yes
Valuable: It has been evaluated Don’t Go Anywhere Catering Services have great level of
human resources that are extremely ready to provide their best so that the firm will able to earn
maximum amount of market share as well as profitability measure (Li, Xu and Li, 2020).
Appropriate and effective quality of food and beverage services sustained or maintained by the
enterprise has helped the firm to satisfy the needs and demand of the consumers in the best
possible manner. The brand image of the company is also valuable in nature as it helps to retain
along with attracting new customers within the organization.
Rare: The information that has been represented in the above table represents that technology,
human resources, services as well as products are not rare of company the similar kind of
products and services are presented by several other companies as well. In addition to this, the
brand image of the company is rare as company deliver dissimilar products and services to
varied consumers.
Imitable: Brand image is the one and only element that can never be imitated or copied by other
competitive firms. On the other hand, the other components of the table i.e. the technology,
human resource and services can be able to easily imitable by several other companies as well in
order to increase their profitability.
Organized: Appropriate arrangements along with establishment of varied resources which
includes brand image, technology and services along with products of the firm has helped in
order to retain their competitive benefits.
New services and products: Don’t Go Anywhere Catering Services manager with the help of
focusing over development of products and services with the help of adding organic food items
into their product range can able to fulfil the requirement of health conscious customers in most
efficient manner (Patri and et.al., 2020). Thus, the manager of the firm with the help of focusing
towards innovating the company products as well as make necessary improvements is highly
able to build strong brand value or image within the market space.

Identification along with mitigation of risks
There are numerous risks that are associated with business which requires to get
mitigated on urgent basis so that the firm will able to grow and expand appropriately along with
sustain their market place for many years. The risks that are being involved:
 Financial risk: In order to get appropriate and suitable operations into the organization,
Don’t Go Anywhere Catering Services requires different financial resources that has been
required by the firm. Hence, the high level of financial risk has been mitigated by the
manager of the company with the help of effectively evaluating the final outcome that has
been gained by doing specific and particular investments.
 Competitive companies as a risk: Another kind of risk that has been associated with the
particular situation includes competition risk as there are various number of competitors
available into the external environment that are also producing similar level or sometimes
even more productive or attractive products and services (Agyemang and Silva, 2019).
Thus, Don’t Go Anywhere Catering Services have to adopt some most appropriate as
well as significant and necessary strategies that enables them to mitigate this specific type
of risk among the workforce of the company. They should be highly focused towards
differentiating their offered goods and services in order to make their users or consumers
highly satisfied.
 Collaboration: Furthermore, it has been evaluated that manager of the firm at the time of
planning for growth and expansion of the company needs to consider collaborations as
well as joint ventures of the firm to enter into global market space. The company i.e.
Don’t Go Anywhere Catering Services by forming joint venture can able to enter into the
international market and can easily able to expand their business by sharing their
profitability and risks in required manner.
Identification of growth opportunities by making utilization of Ansoff Growth Matrix
In general, there are various growth options available for the firm at the time of expanding
into global market. Ansoff matrix is a useful tool that has been used by company to evaluate and
prepare appropriate planning strategies. This has been explained in detail below:

 Market penetration: This is the strategy at which the firm plans to expand their business
operations into existing market by utilizing existing goods and services. Don’t Go
Anywhere Catering Services provide various promotional offers in order to attract and
generate their customer base.
 Product development: This is another strategy that give emphasis over introducing new
products, hence Don’t Go Anywhere Catering Services can make appropriate changes
into their services in order to fulfil their customers’ requirements.
 Market development: It is the third strategy that could be used by the firm to expand
their business operations into global market (Tolvanen, Erkkilä-Välimäki and Nylen,
2019). With the help of adopting digital marketing techniques or doing joint ventures, the
company can expand their business internationally.
 Diversification: This is the last strategy which involves great level of risks as this consist
of new products as well as new market area both. Thus, if company requires to adopt this,
they need to do efficient market research in advance so that the risks associated with
finances can be minimised.
Critically evaluating financial growth option and source of funding:
Every business need financial planning to make their business stable in the market,
budget is key element which allow firm to become stable and effective (Markova and Petkovska-
Mirčevska, 2018). Firm who have financial planning never face issue of survival, planning may
include source of funding for business operation. There are certain sources of funding available
with Do go anywhere company, these are:
Equity funding: This is one of the most common but effective method to collect and raise funds
for the business, here firm need to reach wealthy investor who have sufficient budget to invest in
business plan and enjoy ownership. It is very clear that equity funding is less risky and have
certain benefit as compared to other source of funding. However, firm need to provide equity or
ownership to wealthy investor in the company which is quite dangerous for long term purpose.
Equity funding process allow business to raise funds at less cost but finding wealthy investor is
one of the most challenging task which demand firm and business plan to be effective.
Bank loan: Bank loan is the safest option to raise funds, it is very clear that business approach
bank loan and bank provide certain other financial service to the user. Bank loan is a effective
way to raise funds, this option help organization to quickly collect require capital from bank and

repay with interest set by the bank. Loan from bank include interest rate which business have to
pay, however, bank loan may be beneficial but interest of this loan is considered as expense
which impact firm's performance. Private bank have their own rate of interest depending on type
of loan, personal loan may have high interest whereas government bank might have less interest.
Investors: Investor are one of the best source of funding but it completely depends on what type
of investor business may approach, to raise sufficient funds for business operation it is important
to find right investor with right knowledge of funding (Staniewski, Szopiński and Awruk, 2016).
For example; a business might approach angel investor for funds as they are a private investor
more interested in long term fund provider. Apart from this, funds can be raised from venture
capitalist as well where they have interest in providing private loan with set interest rate. A
business firm might approach invest according to the business and operation structure.
Critically appraisal of the exit or succession option available with the business organization and
benefit and drawback for each option:
Every business organization plan to survive in the market, it is very clear that market
condition may change over time which impact company's position. Exit strategy allow firm to
reduce losses, certain option are available which make it easy for business to reduce risk and
failure. Succession option may help business to stay in the market, if firm have no plan to
survive critical condition then certain exit strategies are there, these are:
Wind up: This is one of the most important exit strategy which allow firm to wind up their
operation and leave the market, here firm have to sell their assets and holdings to raise funds to
repay the loan and debts. It is very clear that firm might have planned to exist the market with
winding up but this is not an easy process because firm repaying debt with liabilities are
challenging task where settlement become impossible (Rosslyn-Smith and Pretorius, 2018).
Winding up is process of selling assets of the firm, many business wind up their business by
selling assets and some wind up to start new business venture with same assets and holding.
There are certain benefit and drawback of winding up process, these are:
Benefit:
 If firm decided to wind up their business then there will be no losses in the future,
winding up may sound negative but still owner can be safe from legal obligation if they
wind up in right manner.

 Debts get written off in many winding up cases, firm try to free themselves from debt just
by performing this process. Debts need to be settle down to make the process smooth,
business partner remain safe.
Drawback:
 Loss of business assets can be seen in the process of winding up where it is challenging
getting back assets, it is very clear that assets are sold to settle down debts of the business
which means there will be no assets remaining by business.
 Impact on reputation can be seen when business plan to wind up, the process of winding
an business impact brand image and reputation as winding up is consider as negative
process by the business.
Partnership: This is most common type of process in which firm try to partnership with other
business unit dealing in same industry, this option or exit strategy is beneficial for the firm in
terms of long term growth. Partnering with other business allow firm to reduce impact, it is very
clear that if firm is ready to partnering with same sector business then they can be safe from
winding up (Marumo, 2020). Partnership occur when two firms ready to joint their business and
operation, this is one of the most common type of process in which weak firm partnership with
strong firm who have skills and experience to run a business in the market. There are certain
benefit and drawback of partnership as exist strategy in the process, these are:
Benefit:
 Partnership allow firm survive even the worst market condition because another fir might
have strategic direction which allow firm to become stable and continue their operation
with guidance.
 Resource can be share in partnering with other firm, it becomes very beneficial for weak
company to enjoy resource of partnering firm which help them to perform certain
operation in the process.
Drawbacks:
 Limitation on decision-making can be seen in the case of partnering with another firm
because they might have their own process of managing business.
 Partnership may end up in the worst way because firm might not ready to adopt major
changes, stakeholder who have invested in the company might disagree on partnership.

Merger and acquisition: Merger and acquisition is most common term in the business world
where one business capture or merge into another one allowing them to hold more share and
majority of decision-making power (Segal, Guthrie and Dumay, 2021). This is one of the most
effective and beneficial type of exit strategy which allow business to stay in the markets, some
business might merge into each other and create new business whereas some might acquire
another business, there are certain drawback and benefit, these are:
Benefit:
 Formation of new company can be seen in the process of merger where two business firm
try to form completely new firm which deal in same product range.
 Acquiring or acquired is beneficial for the business which reduce chance of failing in the
market.
Drawback:
 Forming new business with merging is costly process and include high risk, both firm
might fail in the market.
 Acquisition simply means loss of power, firm who acquire have more power to influence
another firm and might capture their position.
Justified recommendation for the business:
Strategic partnership: Strategic partnership is one of the most common and effective way to
grow in the market, business should adopt strategic partnership which allow them to explore new
market opportunities and grow together. Partnership not only means joining of two business but
certain benefit can be seen in this form of growth strategy. For example; two business firms can
share resource with each other, some even share budget to make continuous growth and enjoy
stability. It is highly recommended for the business to partnership with same field firm because
their business operation might not differ from each other making it easy to settle down quickly.
Corporate social responsibility: This is one of the most important element for business growth,
it is highly recommended for the business to practice social responsibility. Growth is major
factor which impact company's brand image and reputation, firm try to create brand image to
bring push to business growth (Gagné and et.al., 2021). However, practising social responsibility
is challenging task and require firm to have sufficient budget with planning. Social responsibility
will increase brand name of company, with right brand name, business enjoy continuous growth

and stability in the market. Many business brand survived the market condition because they
have practice to maintain environment and society.
Creation of sales funnel: Sales funnel is process of customer journey which is quite important
because firm need to understand their customer and behaviour. Creating sales funnel is
recommended to business, they simply need to understand the pathway which lead to final
purchase, if firm is clear about pathway then growth can be seen in the process. However, due to
rapidly changing social taste and preference, it becomes challenging creating sales funnel that
meet all demand. Growth can be seen when business have ability to craft the best sales funnel
strategies, here understanding customer journey become essential for the business.
Business plan in the context of the firm “ Don't go anywhere catering services”:
A document or a report which defines the overall organizational objectives and an appropriate
plan to achieve the goals and targets. This business plan includes the different areas like
marketing, financial areas, product and service information (Hopp, and et.al, 2018). This plan
and procedure helps and supports the organization to grow and develop in successful manner.
Executive summary
Don't Go Anywhere Catering service organization is a new venture who wants to launch their
business in small size market area where they can understand the market in deep manner. The
new business will offer the catering services to the people for the different purposeful events and
occasions in affordable pricing packages. The aim of the new venture is to increase the number
of customers and shares by 50% by the end of this year.
Product description
A new venture offers the catering services to the people in regard with different purposeful
events and occasion. This can be also understood as delivering the food at a remote site such as
hotels, hospitals, pubs and such events (Hanák, and Grežo, 2020). The menu of the food is
selected and chosen by the client where the company delivers the Italian, Mexican, and Chinese
food catering services along with beverages. As, it is the new venture business, the company has
put the prices of the services in affordable manner which attracts and influences the customer's
and can increase their sales in wider manner.
Market analysis
A market analysis is the process of identifying and evaluating the particular chosen market for
the new venture business where the products and services can be purchased by the customer in

wider manner. This analysis will include the particular target audience, market and competitors
from which the new business can be aware of them and can implement the strategies
accordingly. The new venture business, has required to understand the new trends of the market
and consumer behaviour from where the new business can implement the effective strategies
which will help to create a specific position in this particular market field. The market size of the
new venture is set to be 50% of the market which the new business wants to cover. Don't Go
Anywhere Catering Service business has set their target audience on the basis of geographical
where they will offer their services on different location and also for various purpose events
which can be related to business, travelling, personal events and birthday parties as well. To
establish any new business, they are required to identify the competition in the market where
who are the competitors and how the new business can compete with them in the market. The
major competitor will be new businesses as they bring the innovative ideas and have the
capability to attract the customers.
Marketing strategies of the firm “ Don't go anywhere catering services”:
Marketing strategies is one of the most important factor a business needs to use and implement in
effective manner. It is the process of advertising and promoting the particular company's
products and services in the society and marketplace from where the people can be aware of the
new business and products. Don't Go Anywhere Catering service business delivers their services
in affordable manner with the maintenance of the proper safety and hygiene which makes the
food more hygiene. The business should promote their services thorough social media platform
as today in this social networking world, billions of users are active on the social media platform
which enables the business people to advertise their products and services to the people in
effective and definite manner. The following strategies can be used by the business:
 Marketing campaign: These are the set of activities in context of the strategies of the
firm to promote firm's business objectives and goals. Company can run marketing
campaign by following different steps like: choosing the goal, setting budget, identifying
targeted audience, designing content, choosing channels, launching and monitoring and
analysing the result.
 Social media marketing: The skill to take the business online flat-forms by promoting
them by using the various social media platforms like: twitter, Instagram, Facebook, etc.
this will help the business of the firm to reach out the maximum numbers of the new

potential customers and also in getting more engaged with the existing customers in the
market by rendering their products and services
Competitive analyse of the firm by using the porter's 5 force analysis in the context of “Don't go
anywhere catering services”:
The five forces are as stated:
 Supplier power: Suppliers plays a vital role in influencing the production capability of
firm. The large population of the suppliers may impact supplying power of firm. So, the
firm needs to look out on the control of the suppliers power in the firm for the healthy
production.
 Buyer power: This element in the model puts the leverage on the customer's
performance towards the business (Mahmud, 2019). More over, because of the
availability of the substitutes in the market the firm should focus on the customer's
attraction towards the business.
 Competitive rivalry: the main thing that the business may face in the competitive run is
the capability of the competitors in market. The competitors in the markets offers
products that may be different from products of Don't go anywhere catering services that
may cause the rivalry.
 Threats of substitutes: at the time when substitutes are available in the markets, it
creates the situation where the customers can divert from the business (Frederick, and
Parappagoudar, 2021). So, the firm should try to produce their products and the services
in innovative way to keep the customers loyal towards business.
 New entry threats: the market in the fields of Don't go anywhere catering services are
profitable it will attract the new entrants in the market for the same business. The entries
will be there unless there are the tough barriers in the markets. So, the firm needs to be
capacitive towards the business.
Financial plan in the context of the firm “Don't go anywhere catering services”:
Start up expenses
Legal $1800
Logo & patent $150

Licence $5000
Business contract $6000
Liquor licence $1500
Insurance $2000
Computer and accessories $10000
Food and beverages licence $6500
Other $1800
Total start up expenses $34750
Summary: A financial plan helps to figure out the idea implemented in the business is
sustainable and this also helps the businesses to be on track regarding the financial status of the
firm till the time business get matured (Cull, 2019). The way firm have invested in the business
is around 35000. All the investment done is on the capability value of the firm to be in the run of
business. The acceptations of the firm from the business is may be around the 70000.
Exist strategy of the business in the context of the business of the firm “Don't go anywhere
catering services”:
 Wind up: winding up of the business firm refers to the process under which the business
closes down like it can be the product line-up or the entire business line (De Medeiros,
and et.al, 2018). This process includes the paying up and the settlement of the
outstanding debts of the company. The process also includes the collecting the money
owned by the others in the business and selling of the assets owned by the business and
tying the closing end notes. The firm may wind up business in such case by clearing all
the things.
 Partnership: The partnership allows the business to create its new value by joining up
with the other companies or the individuals interested in the business. The way
partnership creates more value it will be more strategic for the business. The firm can use
the partnership method to keep the business in the run and generating the values for the
business. Business can use the strategic method of the partnership were the business

activities like sharing of risk, contribution in the strategic areas of the business and
controlling the joint action in the business can help the business to be in the competitive
run.
CONCLUSION
The concluded report demonstrate the business growth plan of the firm “ Don't go anywhere
catering services”. The report have covered the areas like the business plan of the firm and the
growth opportunities of the business (Bone, and et.al, 2019). Report have concluded the key
considerations for small business organization by evaluating the business growth opportunities.
The report also shows about the various ways through which the business can be existed in case
of some obligations and the implications for the different ways have been given in the report for
the wind up of the business.

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