Food Delight: Business Model, Peer Review, and Improvement Strategies

This project presents a detailed business plan for 'Food Delight,' a restaurant concept in the UK, addressing the growing restaurant sector. It begins with an overview of the business plan, followed by the original business concept utilizing the Business Model Canvas, which outlines key partners, activities, value propositions, customer relationships, segments, resources, channels, cost structure, and revenue streams. The project then incorporates peer group reflection, analyzing feedback from online and self-selected discussion groups, as well as venture capitalists, family, and friends. The peer review highlights issues in key partners, activities, resources, value propositions, customer relationships, segments, channels, cost structure, and revenue streams. A SWOT analysis is included to identify strengths, weaknesses, opportunities, and threats. The project concludes with potential improvement strategies, addressing customer relationships, target market segmentation, resource allocation, and value proposition enhancements, to refine the business model and increase the likelihood of success in the competitive restaurant market.

Creating Your Business

Table of Contents
Overview of the plan...................................................................................................................3
1. ORIGINAL BUSINESS CONCEPT........................................................................................3
2. PEER GROUP REFLECTION....................................................................................................4
3: CONCEPT IMPROVEMENT REITERATION.........................................................................9
Conclusion.....................................................................................................................................11
Reference.......................................................................................................................................12

Overview of the plan
In the recent times, restaurant sector of UK has performed well and growing with the
very high pace. Long term demographic and customer trend has strengthened the growth of
restaurant sector significantly. Hence, considering the current trend and interest in restaurant
sector entrepreneur is planning to establish business namely ‘Food Delight’. Through such
restaurant entrepreneur wishes to provide customers with quality food or dinning services that
makes their experience memorable. With the motive to attain success and avoiding undesirable
aspects concerned entity will prepare business canvas model which in turn reflects both financial
and non-financial aspects. Along with this, business entity will take review from peers to assess
loopholes and lay focus on preparing new model on the basis of improvements identified.
1. ORIGINAL BUSINESS CONCEPT
A business model is known as the conceptual tool which contains a set of elements and their
relationship. Along with this it allows expressing the business logic of a new restaurant (Caetano,
Antunes and da Silva, 2017). It is also a description of the value which is offered by the firm to
one or various segment of customers, along with network of partner for developing, marketing
and rendering this value and relationship capital in order to get high profit and sustainable
revenue system.
Business Model Canvas for ‘Food Delight’
Key partners
 Supplier:
Grocery
stores
 Partner: Hotel
chain which
offer
accommodati
on services to
the customers.
Key activities
 Marketing
 Selling
Value propositions
 Ambiance
 Musical
Nights or
band
performance
 Quality and
fresh food
 Standardizati
Customer
relationship
s
For
developing
and
maintaining
effectual
relationship
with
Custome
r
segments
Business
entity
will
mainly
lay
emphasis
on

on customers
owner of
restaurant
will
introduce
loyalty card
schemes.
families.
Key resources
 Finance or
fund
 Human
(employee
s)
Channels
Food
Delight will
offer
dinning
services to
the
customers
through its
own
restaurant.
Cost structure
 Raw material procurement
 Salaries of personnel
 Marketing or promotional expenses
 Other expenses
Revenue streams
Food delight will
generate revenue
through offering dinning
services to the
customers.
2. PEER GROUP REFLECTION
For getting the desired level of outcome or success and avoiding future difficulties I have
shared my new venture proposal with peer group. Hence, for this purpose, I have selected
two discussion groups for getting deeper insight about the extent to which new venture
proposed plan is good. Thus, such discussion will help in identifying issues prevail in

existing plan and thereby gives clear indication for improvement. By taking into account all
such aspects I have shared my business proposal with both online and self-selected
discussion group. Along with this, I have shared proposal with ‘Working Party’ (e-WP) via
Minerva that broadens contact across seminar groups, for getting worthwhile suggestions that
aid in the success of my new proposed venture. Besides this, I have also done discussion
with my close friends, family members and venture capitalists. The main reason behind
doing consultation with venture capitalists is to get information about the improvements
needed to get competitive edge over others. I am planning to fulfill financial requirements
through both internal (personal savings or fund) and external (venture capitalists & bank
loan) sources. Thus, I have taken reviews from one of my close friend who is involved in the
activities like venture capitalist. Further, to attain the predetermined goals and objectives I
have also consulted to my family members and friends involved in business activities and
attained success in their own venture. Hence, through peer group reviews, I have found some
issues and potential for performance improvement:
Issues highlighted by the peers: In the context of each criterion, I have found some issues
through peer group reviews:
 Key partners: To establish a new business is not easy task as because there many
activities which is need to carried out on time. Key partners are important for business
and they are supplier and partner who provide raw material. Therefore, it is important for
company to ensure that it make good relationship with supplier so that they get raw
material availed on time (Toro-Jarrín, Ponce-Jaramillo and Güemes-Castorena, 2016).
Along with this it is important to ensure that all the information related to products shared
with supplier so that they can provide material accordingly. As supplier are important for
the business to carried out it in an effective manner. If company unable to make
relationship with supplier then it become difficult for them to fulfill customers’ needs and
wants on time. There are many important information which is need to acquired through
knowing in advance that which partners can constitute a valuable relationship.
 Key activities: The main key activities of the firm is selling and marketing products and
services in the market. Before establishing a new business, it important for the firm to
have knowledge related to the core activities of the firm. As it assists in obtaining a good

proposition of the organization (Dudin, Kutsuri and Namitulina, 2015).. However, it is
not stated simply a problem-solving approach or the quality of products. At the time
when firm understand the value added for the customers then it become easy for them to
make a good relationship with customers. To marketing the products is not easy task as at
present company is not using a social networking sited for promoting its products and
services due to this reason it become tough for them grab the attention of large number of
customers. Hence it is important for firm to develop a grocery sales network.
 Key resources: Peers entailed that for ensuring smooth functioning both financial and
non-financial resources are needed by the entity. Hence, peers appreciated key resources
which are mentioned in the existing model such as financial and human. However, peers
depicted that there are several other resources that are needed to carry out activities in the
best possible manner such as equipment etc.
 Value proposition: In the context of value proposition section both online and self
discussion group appreciated all the mentioned aspects. While reviewing all the aspects,
discussion group depicted that ambiance and food quality as well as service is the focal
point of customers while making selection of restaurant. Hence, aspects or elements
included in value proposition section are recognized as good to a great extent. However,
after the recessionary session customers become price conscious in nature and prefer to
visit restaurant that offer quality services at affordable prices. Thus, there is a need to
highlight such kind of aspects that develops effectual image in the mind of customers.
 Customer relationship: From peer reviews, I have identified that scheme pertaining to
loyalty card is highly appropriate which in turn helps in attract more customers.
However, both online and self discussion group criticized NVP on the basis of aspect that
only loyalty card scheme is not enough for building prominent relationship with the
customers. Now, there are several or in-fact every restaurant is making focus on
undertaking such schemes. Along with this, now competition level is stiff as customers
have several options pertaining to visiting restaurants which offer quality services
(Matthews and et.al., 2017). Hence, there is a need to make focus on undertaking sound
strategic framework or policies that help in building effectual relationship with the
customers.

 Customer segment: Business Model Canvas which was shown to peers or discussion
group criticized on the basis of customer segment included. Peers stated that by laying
focus on only families one cannot attain success. Further, self-discussion group presented
that no proper or appropriate bases have been considered by me for segmenting customer
base. Thus, improvement is required in this section for attracting business partners to a
great extent.
 Channels: There are various ways through which firm can deliver products and services
to its customers. At present Food Delight will offer dinning services to the customers
through its own restaurant. However, the organization can use multi-channel of
distribution and also Ecommerce to serve its customers. One of the most traditional way
is to visit to restaurant for purchasing. As it is not easy for many customers to visit and
purchase food. Therefore, Food delight can focus on selling food online so that more and
more customer can easily make purchase. It shows that company can keep attention on
using of new technologies and develop a new way for doing a business successfully
(Joyce and Paquin, 2016). Further company one focus should be on increasing the
customer interaction with better services. Therefor with innovative business model it
become easy for the firm to gain competitive advantage and survive in the market.
 Cost structure and revenue stream: There are many competitor of Food delight in the
market due to which sales and profit of the firm can be hamper. Due to high number of
competitor it is important for company to hire skilled employees and pay them high
wages which can impact the profit. However, company can use new technologies that
consume less cost and time. Apart from this revenue of Food delight can only generate
from offering the dining service to the customers which do not help in increasing the
profit (Dudin, Kucuri and Namitulina, 2015). Therefore, for this purpose company
providing additional services to customers which help in grabbing their attention. Along
with this firm can provide offers or loyalty scheme to its regular customer which help in
retaining them for longer period of time. This lead to help in increasing the sales and
profit of the firm.
SWOT ANALYSIS

Here below I point out the SWOT analysis of Food Delight shortly that underlie the
issues which are not necessarily mentioned in the canvas.
Strength
 High quality services
 Efficient logistics
 Flat organization model
Weakness
 Lack of new technology
 No loyalty programs
 Lack of distribution channel
 Cost efficiency
Opportunities
 e-Commerce
 continuous improvement
 Further improvements in value
proposition using customer information
Threats
 Large number of competitor
 Increase in price pressure
 Relatively small stores
Potential improvement strategies:
In order to solve issue related to customer relationship, being an owner, I will take
feedback from customers regarding value of money, quality, ambiance etc. This in turn helps me
in assessing the issues or changes which customers want in the existing services. In this way, by
offering services to the customers as per their needs, wants and expectation I would become able
to maintain effective relationship with them. Besides this, I will also send mail to both existing as
well as potential customers regarding upcoming events, promotional offers and unique dishes.
All such aspects will positively contribute in the building as well as maintenance of prominent
relationship with customers.
For the identification of suitable target market I will make evaluation of fours bases
which are related to segmentation aspect. Hence, by undertaking demographical aspects such as
age, income and lifestyle I will segment customer base. Now, people of all age group whether
younger or older prefer to visit restaurant. Along with this, trend among students in relation to
doing parties also increased significantly over the years. Thus, to enhance customer base I will
focus on offering services to both young and old people who belong from upper-middle class.

In order to mention or include appropriate information about key resources I will do
evaluation of business activities. This in turn helps me in assessing the tools that require for
proper functioning. Hence, for presenting suitable view of NVP I need to include all the needed
resources.
For avoiding deficiencies which takes place in value proposition aspect I will make focus
on the needs of customers. Moreover, in the competitive business arena, one can attain success
only when they satisfy the need as well as expectation of customers.
From the revise business model, it can be stated that Food delight can used loyalty
scheme and membership card for retaining and satisfying the customers. Along with this if
company adversity its product on social networking sites then it became easy for them to target
large number of customers. Issues which are identified if they are resolve on time then firm can
make good profit and increase sale. There is increasing in new technology so company can focus
on implementing new technologies that lead to increase productivity and profitability of the firm.
3: CONCEPT IMPROVEMENT REITERATION
Revised Business Model Canvas on the basis of improvement assessed is enumerated below:
Revised Business Model Canvas for ‘Food Delight’
Key partners
 Supplier:
Grocery
stores
 Partner:
Hotel chain
which offer
accommod
ation
services to
Key activities
 Marketin
g
 Selling
 E
commerc
e
 Food
trade
Value
propositions
 Ambiance
 Musical
Nights or
band
performanc
e
 Quality
and fresh
Customer
relationships
 For
developi
ng and
maintain
ing
effectual
relations
hip with
custome
Customer
segments
Business
entity will
mainly lay
emphasis on
families.
E commerce
customers

the
customers.
 Acquire a
new partner
to the
network
food
 Standardiz
ation
 Exceeding
customer
expectation
 Creating a
good
community
network
rs owner
of
restaura
nt will
introduc
e loyalty
card
schemes
.
 Custom
er
satisfact
ion and
member
ship
card
Key resources
 Finance
or fund
 Human
(employ
ees)
 Personn
el
 Machine
ry and
equipme
Channels
Food Delight
will offer
dinning
services to the
customers
through its
own restaurant.
E commerce as
online food

nt store
Cost structure
 Raw material procurement
 Salaries of personnel
 Marketing or promotional expenses
 Other expenses
 Stock
 Machinery and equipment
Revenue streams
Food delight will generate
revenue through offering
dinning services to the
customers.
Creating value for shareholders
E commerce
Loyal customer paying by cash
or credit and debit card.
.
Conclusion
From the above business it is concluded that Business model shows motive is to attain
success avoiding undesirable aspects concerned entity model which in turn reflects both financial
and non-financial aspects. A business model is known as the conceptual tool which contains a set
of elements and their relationship. There are different key factors which are involved in the

business such as key activities, partners and cost etc. This all elements in business model reflect
the all the activities of the business which is carried out for increasing sales and profit. Further
there are some loopholes in the business canvas model which is need to identified and improve it
so that firm can easily survive in competitive market. Further, it is concluded that if company
adopt new technologies then it became easy for the firm to reduce cost and time and increase
efficiently. Through making online website it will become easy for the firm the grab attention of
large number of customer and make profit.