Entrepreneurship: Business Plan for Temptation Restaurant Report

This report offers a comprehensive analysis of enterprise and entrepreneurship within the context of the UK food industry, specifically focusing on a business plan for a restaurant called "Temptation." The report begins with an introduction to entrepreneurship and the motivation behind choosing the food industry, highlighting its growth potential and customer adaptability. It details the process of generating the business idea, emphasizing market trends and social and economic conditions. The report includes feasibility studies, examining product viability, pricing strategies, promotional tactics, and operational processes. It further analyzes the potential market opportunities using Porter's Five Forces model to assess industry competition, bargaining power of buyers, and the threat of substitutes. The report then outlines the attractiveness of the industry and the vision for the business, offering a conclusion that emphasizes the importance of market analysis and strategic planning for success. References to relevant literature are also provided.

Title
Enterprise and Entrepreneurship

Table of content
INTRODUCTION
Motivation for choice of business
The process you went through to generate the business idea
Feasibility studies conducted
Details of the product or service to be offered
Potential market opportunities
Attractiveness of the industry
Vision for your business
CONCLUSION
REFERENCES

Introduction
 Enterprise is a small company or business it includes activities of
managing companies and business also. An individual who develop new
business by taking risk and enjoying rewards is known as entrepreneur. As
it is commonly known as an innovator, source of new ideas business
procedure goods and services. Entrepreneur plays an important role in an
economy by applying skills and initiative necessary to satisfy needs by
proving new ideas to market. Entrepreneur became successful by taking
on the risk of a start up and is rewarded with fame, name and
opportunities.

Motivation for choice of
business
 As fast food become more and more popular every year. Despite the rising
concern about health in the society, specific sector goes higher and higher in
growth every year. There are certain factors that motivate for selecting food
industry business are market competency, easy customer adaptability, large
customer attractiveness. At present environment audience are interested to
spent huge part of their income on trying different food items to taste. Today
people are become foody so the chance of business growth in the respective
industry is more. The main aim of every business is to earn maximum profit

The process you went through to
generate the business idea
 Focus on your core product: the core opportunities that are
which was identified according to market trend social
environment as well as comic conditions of the United
Kingdom. The core product which was identified belongs to
hospitality industry any food & beverage sector that is
restaurant.
 Keep your pitch simple: In concise and attractive manner we
create our market in this industry.

Cont.
 Map it: Mapping is to be done by restaurant after doing deep research and survey.
 Planning: Time to time planning is require to be done to set the business properly as
it require to plan in effective and efficient manner.
 Utilize marketing tools that work best: The best available options are selected by
the organisation to create awareness in market and to promote business. Different
mode of advertising is use like Social media, new paper, and local advertisement on
Televisions etc.
 Implement a plan of action: The action that is set to perform is implemented in the
same manner as they are set so that it give positive result.

Chances of successful
 It’s not easy to get success in restaurant industry. Most of the
restaurant does make their past in initial year and 85% go out of
business within five years. The big market diversifies with big enough
niches demanding new accessibility, concepts and packaging. There
are many trend related to fortified , vegan, organic, gluten free, health
and super food. To run restaurant business successfully it is necessary
for the product to taste good. As solid and realistic business plan is the
basis of successful business

Cont.
By following various strategies restaurant can increase their sales and chances of growth and success as
these are describe in detail as follows:
 New device provide: By using new device to produce it can make large quantity of product at the
same time and satisfy huge customers.
 Innovation: With new varieties or by offering new items it can attract large audience.
 By offering discounts: To increase sales time to time festive offers are provide by restaurant. Various
schemes or combo packs are offering by temptation so that large audience attract that increase the
chance of business success.
 Increase awareness: By using various methods of advertising like social media, news paper the food
brand can promote the name of restaurant.

Details of food items and services to be offer
 In “Temptation” restaurant offer various variety of Fish and chips as
this is great staple of Great British summer, cream tea, Falafel,
Cornish pasty, Apple crumble, Spaghetti Bolognese, Roast dinner,
Chicken tikka masala, Chips and gravy. Haggis are the famous food
that are available in this restaurant and it also offers best service for
taking orders and satisfy the demands of customer on time. No matter
how tasty the menu is, audience not interested to come back if they
face bad experience with their customer service.

Cont.
 External Opportunities: Taste of people are changing day to day as
they become aware of health hazards of eating fast food. More dinner
than ever prefer healthy options in place of fatty processed food. It this
way healthy eating of fast food items means for the modern consumer.
 Internal Opportunities: As this model offer opportunities to invest more
money into their local economies as large food chain Other small fast
casual chains by meat and other ingredients locally.

Cont.
 Opportunity in alcoholic beverage: As most of the fast casual operator
believe alcoholic beverage are become in more demand and become
more popular in 2020. But great interest in creative low alcohol by
affecting volume option too.
 Offer more technology: As customer want technology that reduces
transaction and increase convenience.
 Delivery service: As half of restaurant operator say that are interested to
choose delivery option offer.

Feasibility analysis
A Product Viability Study is a crucial step for emerging goods and
services. This may be an idea or a theory that may profit from
conceptual tests or even exploratory analysis to further grasp or
discover whether a need or demand still occurs for the product. In the
context of above new business it has been done below in such manner:
 Product: A lot of prospective buyers are fascinated by the fresh
organic food. The modern food is available in various colours and
tastes. These products are made from organic produce and natural oils.