LCBB5001 Entrepreneurship: Detailed Business Plan for Mini Fresh Mart

This document presents a comprehensive business plan for Mini Fresh Mart, an online grocery store designed to capitalize on the growing demand for convenient grocery shopping, particularly in a post-COVID environment. The plan includes a detailed market analysis, identifying opportunities and threats, and an assessment of the competitive landscape, including Amazon Fresh, Asda Plc, and Tesco Plc. It outlines the company's operations, management team, and marketing strategy, focusing on product, price, promotion, and place. Furthermore, it provides a financial overview, detailing sources and uses of funds, revenue projections, and cost analysis. The business plan leverages the provided template and addresses key elements such as the business description, industry analysis, operational strategy, and financial projections, aiming to establish a strong foundation for Mini Fresh Mart's success in the online grocery market. Desklib provides access to this and many other solved assignments for students.

BUSINESS PLAN TEMPLATE: THIS TEMPLATE MUST BE USED FOR THE ASSESSMENT. YOU MAY INCLUDE PICTURES
TO IMPROVE THE PROFESSIONALISM OF YOUR WORK
BUSINESS DESCRIPTION / MARKET OPPORTUNITY
Entrepreneurship is defined as the process of discovering the new and innovative ways of allocating the resources and using those
resources properly. The new business is named as the Mini Fresh Mart having the presence in the online market place. The company is
the new start up company used to sell the grocery products to the customers in online marketplace.
The mission of the company is to deliver the exceptional shopping to the customers by offering them best service, value and quality
products and serving the best to the communities (McKenzie and Sansone 2019).
The new company is used to provide the fast delivery of the grocery products that is within 1 or 2 days which helps the customers to get
the products at their home only. The company is the retail store used to follow the participative structure in the online market. They used
to take the feedback from the customers and helps them to improve them where they are lacking in the market. The company is having
the opportunity in the market as people were preferring less to go market and purchase the grocery items after happening of COVID.
The company used to provide the free shipping to its customers that helps them to increase the brand image in the market.

INDUSTRY ANALYSIS
Threat of new entry
The company is having the high threat of new entrants in the online market. This used to affect the new firms in the industry as it has the
strong force in the market. The customers has the high switching cost, so they can move from one online store to another. As this the new
grocery store it used to provide the free sanitizers to the customers which helps them to attract to buy more and focus less on new entrants
(How Porter’s Five Forces Can Help Small Businesses Analyze the Competition, 2022). The company must manage all the challenges and
build the effective barriers which make them safe from the competitors.
Threat of substitutes
The substitutes used to have the high and strong force in the market and have the high impact on the new business. As there are high
availability of the substitutes in the market which may affect the profitability of the Mini Fresh market. The cited company has to sell its
products at the lower rate as from its competitors which helps them to survive in the market. As the company is having the great threat of
substitutes, so they offer the unique products to the customers by giving them great discounts.

Bargaining power of customers
The bargaining power of the customers is very low as it is the online grocery store which used to provide the home delivery to the
customers. As after the happening of the pandemic the people were not preferred to go outside so the company used to provide them best
and fast services. By having the online market place helps the company to have the large customer base and helps them to grow in the
market at faster rate.
Bargaining power of suppliers
The most of the grocery store used to buy its raw material and products from the various suppliers in the market. As the suppliers used to
have the great position in the market they used to decrease the profit margin of the company. The new business must have the effective
supply chain with the multiple suppliers which used to provide them the best quality of products when required.
Competitive Rivalry: The company used to have the high force of competitors as there are many big grocery stores in the market of UK.
These big firms will affect the profitability and productivity of the new company. In order to compete in the market the new business has to
lower down the prices in order to have its presence in the market.
Name of competitor Differentiation
Amazon Fresh The company used to sell fresh and quality products which and also give the high discounts to the customers.
Asda Plc The company used to provide the best quality of products to the customers and used to take the payment online.

Tesco Plc. This organization is operating independently in the online and offline market as well which helps them to ave good
profitability.

OPERATIONS AND MANAGEMENT TEAM
OPERATIONS
The business process includes the basic life cycle of the company which helps them to have the proper supply of the products in the market.
There are various products that the company used to sell in the market via internet. There is the big process involved in this as the company
is having the online market place (Dal Mas and et.al., 2021). The company used to have the supplies from the suppliers by transporting the
goods to the store from where they used to sell its products online. There are various equipments needed by the company in order to sell the
products in the market. As this store is having online market place so they have to required the computers, machines for producing and
manufacturing of the goods for the customers.
After manufacturing the goods the company used to transport its products in the market of UK which helps them to have the proper
delivery of the products in the market. By using the buses or train or two-wheelers it makes the company to transport its final goods to the
customers.
The cited organization is having the manufacturing where it used to produce and manufacture its products after the happening of COVID.
This will help the company to have the proper use of resources without wasting. As the company used to do online business so it depends
on the customers where they are living (Cuervo-Cazurra, Nieto and Rodríguez, 2018). If the customers are nearby than the goods will be
transported to the customer in single day. There are various department in the organization who have there presence in this business process
and helps the company to have the proper management in online marketplace.
How would you generate revenue for your business?

By determining the goals and objectives of the company properly helps them to have the profits in the market. As the company used to
produce and manufacture its products, so they must have the optimum utilization of resources that helps them to generate the revenue in the
market (Hanák and Grežo, 2020). This will prevent the company to have the wastage of the resources and have the good online presence.
The company can also use the effective marketing strategy that helps the company to have the good productivity and profitability in the
market.
MANAGEMENT TEAM
Name Skills What do they bring to the firm
Mr. Harry (Manager) Communication and motivation skills They used to manage the overall work of the
company.
Mr. Thomas (Finance manager) Leadership and problem solving skills They used to bring the record of finance and
helps the firm to have the good profitability.
Mr. Jack (Human Resource) Selection skills and patience They used to bring the best employees to the
company for having better production.
Mr. Grayson (Employee) Innovative skills and problem solving skills They used to produce the products which the
company sell online.
You may add more names if you wish

MARKETING: The Four P’s must be used to describe your marketing strategy
Product:
As it is new business the company used to sell the best quality of sanitizers to the customers. This product will help the company to have
great selling in the market as the company has its existence after post Covid. By bringing this product it will attract the customers to have
the best quality of Sanitizers as this was the most required product that time.
Price:
The cited business used to charge the reasonable price of the product that is depending upon the quantity of the sanitizer bottle the
customers are purchasing (Forkner and et.al., 2018). The company used to have the price skimming method which is the best method for
the new business. This pricing method states that the company used to sell its products at the lower price which will attract the customers
and helps them to reach eveerywhere by having online marketplace.
Promotional Mix:
These are the communication channels that helps the company to do advertising, direct marketing of the product in the market. As the
cited organization is having the online marketplace they must promote its products by using the online marketing channels which makes
the people to know about the new product in the company. This will help the company to promote its products easier and gain the market
share. By promoting its product the company will have the target audience and this will make them to have good productivity in market.
Place (Distribution strategy):
Place or distribution strategy refers to provide the access of the products to the customers in the market. As the company is having the

online presence they used to sell its products in the markets of UK. The cited supermarket will used to provide the products to their
customers at their doors which will be easier for them to buy the products from Mini Fresh mart. This is the main strategy for the
company to provide the on time delivery of the product to their customers which makes helps them to have the target customers.
FINANCIALS
Sources of funds: where would you be getting funds from?
There are various sources of funds and the company can choose the best source of fund which helps them to grow in the market of post
Covid. The different sources of fund is as described below:
Loans: This is the most commonly used source for the start- up company and for medium-sized enterprise. The bank used to provide loans
to the start ups that helps them to start their new business in the market. They must have the new and solid idea for having the new business
plan which makes the banks to help them financially (Barrow, Barrow and Brown, 2018). The company has to pay interest and has to keep

the collateral security to the bank in order to take money.
Personal investments: This is the main and foremost source of fund that the business must have in order to start the new business. By
having the personal saving it will help the company to not to pay interest and collateral security in advance. This makes the business to
have the long- term commitment to their new project and they are ready to take the risk.
Family and friends: This is also the big source of funding for the new entrepreneurs in the market. They used to provide the fund as the
debt which they have to pay it back with the high interest rates. This is the great source as friends and family used to trust in order to
provide the fund than the strangers (Wetherill, 2018).
The new business can take the loan from the bank in order to start the business in the online market. Te company has to provide the
collateral security to the bank in order to take the fund in return. This will have the less interest rate as compared from the fund taking from
friends and family.
Use of funds
January February March April May June
Revenue (from your
operations and
marketing section)
7000 7400 7500 7800 8500 9000
Fixed Costs
1. Salary
2. Management
fees
1000
500
1000
500
1000
500
1000
500
1000
500
1000
500

Variable Costs
1. Raw
materials
2. Delivery cost
3. production
cost
1200
500
3000
1200
550
3200
1500
600
3500
1650
700
3700
1700
750
4000
1800
850
4200
Profit 800 950 400 250 550 650

6. Market Research
The market research can be done by using the macro factors of the environment that helps the company to know about the external
market. This can be done by using the PEST analysis which is described below:
Political factors: This is one of the biggest external factor that used to affect the business. The government of the country used to have
rapid changes in the taxes and other policies which used to affect the demand and profitability in the market.
Economic factors: This factor helps the company to have the nationwide or demographic changes in the market. This factor affects the
lot as changes in the economic factor leads to have changes in the prices of the products (PESTLE ANALYSIS, 2022). The increase in the
inflation rate will give rise to the increase in the products of the company.
Social factors:This is the most important factor that the company must focus on. The company must focus on the changing taste and
preferences that helps them to have good profitability in the market.
Technological factors: The technology used to change on rapid basis and the cited organization is having the online presence in the
market. They must use new softwares in order to operate smoothly in the market.

REFERENCES
Barrow, C., Barrow, P. and Brown, R., 2018. The Business Plan Workbook: A Step-By-Step Guide to Creating and Developing a Successful
Business. Kogan Page Publishers.
Begley, S., Marohn, E., Mikha, S. and Rettaliata, A., 2020. Digital disruption at the grocery store. McKinsey & Company: London. UK. pp.1-8.
Cuervo-Cazurra, A., Nieto, M.J. and Rodríguez, A., 2018. The impact of R&D sources on new product development: Sources of funds and the
diversity versus control of knowledge debate. Long Range Planning. 51(5). pp.649-665.
Dal Mas, F. and et.al., 2021. Translating knowledge in new entrepreneurial ventures: the role of business plan development. VINE Journal of
Information and Knowledge Management Systems.
Forkner, E. and et.al., 2018. MU Grocery Delivery Business Plan.
Hanák, R. and Grežo, M., 2020. The effect of entrepreneurial experience on the quality of a business plan proposal in applying for angel
investment. International Journal of Entrepreneurial Venturing. 12(6). pp.617-647.
McKenzie, D. and Sansone, D., 2019. Predicting entrepreneurial success is hard: Evidence from a business plan competition in Nigeria. Journal
of Development Economics. 141. p.102369.
Wetherill, A., 2018. Steps to a Successful Business Plan: Knowing who you are and who you want to serve builds a strong foundation for private
practice success. The ASHA Leader. 23(7). pp.40-41.
Online
How Porter’s Five Forces Can Help Small Businesses Analyze the Competition. 2022. [Online ]. available
through:<https://www.businessnewsdaily.com/5446-porters-five-forces.html>
PESTLE ANALYSIS. 2022. [Online ]. available through:<https://pestleanalysis.com/>