Bytes: A New Fast Food Stall Business Plan - Anglia Ruskin University

Desklib provides past papers and solved assignments for students. This report details a business plan for a healthy fast-food stall.

Foundation Business Essentials – Introduction
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Table of Contents
Introduction...................................................................................................................... 3
Task 1.............................................................................................................................. 4
Task 2.............................................................................................................................. 6
Task 3.............................................................................................................................. 8
Task 4............................................................................................................................ 10
Conclusion..................................................................................................................... 12
Reference List................................................................................................................ 13
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Introduction
Business essentials include the different elements required for the development of a
business. In this report, the new business shall be launched near Anglia Ruskin
University in London. The new business would be a new fast food stall, which will be
outside the main London campus of the university. Thus, this report shall explore and
highlight about the main aspects of the business.
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Task 1
Part A
The business being launched is the new fast food stall ‘Bytes’ near the London campus
of Anglia Ruskin University. The chief and unique aspect of this business is that
although it shall sell fast food yet the variety of the food shall primarily deal with baked
delicacies. It is important to note that the oily and deep fried fast foods are unhealthy yet
it is popular among the young students. Hence, this stall shall sell baked food are
usually healthy for consumption. This business falls under the hospitality and hotel
sector and the location of the stall shall be outside the campus of Anglia Ruskin
University, London in Charterhouse St. The business shall be operating as high street
stall and it is suitable business in this location because the target customers will be the
students and the place and type of food will be suitable for them. It is usual that the
students prefer such delicacies, and this business would be offering such food with
healthy twist, which other food stalls around fails to do.
Competitors Justification
The Slice Of Life This cafe is one of the major competitors
of this stall. This cafe is quite popular in
area and it holds a good position in the
market offering various cuisines and
perfect ambience for young customers.
Paul The cafe is one of those old cafes offering
variety of delicacies. The cafe has loyal
customer base, which can be threat to this
food stall.
Table 1: Key competitors
Part B
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Objectives: To provide the target customers healthy and baked fast food of different cuisines To establish market position along with competing with its key competitors To devise appropriate marketing strategies for promoting the business To ensure that the young customers are aware of the unhealthy food habits
along with changing it with healthy ones
Forms of ownership:
The business will be a sole proprietorship and it is suitable form of ownership for this
business because it shall be legally responsible for its operations and is liable for all
decisions (Shaw and Sørensen, 2017). Moreover, it would be sole trader because it
would be responsible for its own sales and expenses (Furlan, 2016).
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Task 2
PESTLE analysis
Political:
 Since the political environment of
the country is stable, it can be an
advantage for the growth of this
business, as it shall make its
operations smooth and effective.
 Further, it is important to note
that UK is popular for FDI and it
can help the business for future
expansion (Cadle et al., 2014).
Economic:
 With the rise in the rate of
inflation, it business can be
affected, as there shall be price
rise, which can affect the
purchase rate of the items in stall
(Ulijaszek and McLennan, 2016).
 Moreover, the increased rate of
interest can affect the business,
as it has to invest more paying
interests.
Social:
 The population of UK is becoming
multicultural and it shall affect the
business, as its main customers are
university students, who belong to
diverse background.
 It is important to note that the
cost of living in UK is quite high
and as the business is aiming at
students, it has to keep the price
nominal.
Technological:
 London being the hub of
technological solution, it can enable
the business to grow. It can help the
business to collect feedback from
the customers using technological
assistance
 Further, the business can use
technological solutions for its
growth, expansion and promoting
about it.
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Legal:
 The business must adhere to the
legal structures of UK, as it shall
preserve the fundamental rights
of its employees. It must comply
with the Employment Act 1996 to
protect the rights of its
employees.
 Moreover, it must adhere to the
Equality Act 2010, and Health and
Safety at Work Act 1974 to
protect its employees from
discrimination and ensure safety
as well as health of them.
Environmental:
 The government and local bodies
of UK has taken initiative for
creating environmental awareness.
The business shall be affected by it
and hence it must not affect the
environment through its practices.
 Further, UK is specific about the
usage of resources and so the
business deals with it by using
alternative resources for
production.
Table 2: PESTLE analysis
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Task 3
Part A- Defining your Launch Event
“BYTES- Healthy Take of Your Fast Food”
The business shall be launched at a small social gathering and this event will held
during the daytime on 28th April 2019. The event would be taking place in the
Charterhouse Street in London, which means the event shall be held on site. Further,
the event will include 150 guests, and it shall serve snacks and beverages. The
business owners plans to invest for good launch of the stall, as it shall enable them to
attract potential customers and be able to achieve the set objectives. Moreover, the
owner plans to invest on food as well, which shall enable them to promote about their
food. The invitees would be some students from the university along with the investors,
family, and friends.
Part B- Producing a budget
Requirements Costs Source of requirements
Venue 0 The event shall be on-site,
which is Charterhouse
Street, London.
Chairs and Tables
(40 tables and 200 chairs)
£200+ £600= £800 ChairHire.co.uk
(Chairhire.co.uk., 2019)
Decoration items
(balloons, banners and
sound system)
£250 Partyonestop decoration
(PARTYONESTOP
Decoration., 2019)
Cutlery sets £500 Partyonestop decoration
(PARTYONESTOP
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Decoration., 2019)
Food
(150 people)
£1500 London Catering services
Ltd
(Lcs-se.co.uk., 2019)
Beverage £700 London Catering services
Ltd
Welcome Kits £500 PaperChase
(Paperchase.com., 2019)
20 staffs (8 hours) £1200 Bluefire Consulting
(Bluefireconsulting.co.uk.,
2019)
Total budget for the event: £5450
Table 3: Budget of event
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Task 4
Marketing Objectives
The primary marketing objectives for this business is that it shall attract the potential
customers, who are the students of Anglia Ruskin University, London. Since the
business is fast food stall, the products offered shall be fast food of different cuisines
and the unique factor is that the delicacies shall be prepared in healthy way- either it
shall be baked or air fried. The products are mass market offering products. The
products aim to enhance the quality of food young students consume and are able to
achieve value for money through these food items. Thus, these marketing objectives
shall also spread awareness about healthy food consumption.
Target Markets
The target market for this business is the students of Anglia Ruskin University in
London. The business aims to target the students as their potential customers because
the products are fast food and the students usually prefer to consume these types of
food (Coakley et al., 2017). Thus, the primary target is the college students and the
products offered are appropriate for the target customers.
Marketing strategies for each target market
The marketing strategy most suitable for promoting the business is marketing mix. This
strategy shall be used to target the customers and influence them to buy the products
being offered by the stall (Resnick et al., 2016). The marketing mix for this business
has been discussed below.
Marketing Mix
Element Description Justification
Price The pricing strategy for
this business can be
Both the pricing strategy
shall enable the business
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either pricing for market
penetration or economy
pricing (Rémuzat et al.,
2017).
to offer the products at
lower prices to order to
make a place in the target
market.
Product The product is the fast
food, which are prepared
in healthy way- baked and
air fried.
Such products emphasise
on the health of the
customers.
Place The product will be placed
in the placed in the target
market, which is the high-
street of Charterhouse
street in London.
Since the potential
customers are students of
the university, so the stall
will be around the
university campus (Gray et
al., 2017).
Promotion Along with the launch
event, the business shall
be promoted through
pamphlets and social
media marketing.
These promotional
strategies will enable the
business to attract the
target customers and it
shall help in creating
awareness among its
customers.
Table 4: Marketing Mix
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Conclusion
It can be deduced from this report that the business “Bytes” is the suitable idea for
serving the young students, who prefer fast foods. However, the main idea is to make
the fast food healthy and so the preparation procedures adopted by the business is
mainly baking and using air fryer. Thus, the report has discussed the major aspects for
the business- objectives, budget of launch event and the marketing strategies.
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