Entrepreneurship and Business Development: Foodifu App Business Plan

This report presents a comprehensive business plan for the Foodifu App, designed to deliver traditional and popular UK food items to customers in London. The plan begins with an introduction to entrepreneurship and business development, followed by a rationale for launching the app and its vision to build a large customer base. A PESTEL analysis examines the macro-environmental factors, while a SWOT analysis identifies the app's strengths, weaknesses, opportunities, and threats. Porter's Five Forces are used to analyze the competitive landscape. Segmentation analysis is conducted, and the marketing mix, including product, price, and promotion strategies, is detailed. A market growth strategy is outlined, along with the resources required and a risk analysis. The report concludes by summarizing the key findings and recommendations for the app's success.

Entrepreneurship and
Business Development

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
The rationale for launching the business and its vision and mission..........................................3
Macro/micro analysis of the market place .................................................................................4
Competitor analysis & highlight the competitive advantage .....................................................5
Segmentation analysis, providing market statistics (size & growth) .........................................6
Marketing Strategy .....................................................................................................................7
Market growth strategy ..............................................................................................................9
Resources required for venture including source of finance....................................................10
Risk analysis & how those risks will be treated........................................................................10
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Entrepreneurship can be defined as that business practices which involves establishing
business while taking consideration of the financial risk along with having motivation of
securing profit. This business concept also involves development and management of the
business venture. It is also a willingness to set up new business enterprise and taking it to new
heights. Business development are that practices where an entrepreneur takes on to pursue the
strategic opportunity required for that specific business. This can also be considered as part old
marketing practices (Anđelić, Brnjas and Domazet, 2017).The most important function of this is
practice is to utilise business partners in such a way where they offer and sale right product to
right customers. This report is prepared with an intention to develop a business idea, including
introduction of a new business along with its vision and mission, porter's 5 forces for market
analysis for competitive analysis. Further it also include segmentation, targeting and positioning,
marketing mix, market growth strategy, sources of funds and the risk analysis.
MAIN BODY
The rationale for launching the business and its vision and mission.
The business plan proposed in report is for a business named Foodifu App plan to invent
which will help the London people to get the most famous food items order on their convenience
time and cost. offering its customers to enjoy the natural environment with a sight of aesthetics
of London. Foodifu offers variety of UK famous dishes that liked by the people and sometime
people suffer and do not want to visit the restaurants and hotel, they want that the food items
directly deliver at their home and all the dishes being served in silver service by the app of
Foodifu. There are well trained and efficient waiter staff for assisting customers. Foodifu app is
a multi-cuisine cafe offering different type of food helps to satisfy the customers ranging from all
localities of London. In the menu, mock tails are included, which are infused with lime juice and
mint with the garnish of lemon. This is a unique product of Foodifu app and waiters and delivery
person here are well instructed to offer it in particular manner (Drobyazko and et.al., 2019).
In its Mission Foodifu app is oriented towards attracting the large market in the London
and earn best possible growth and revenues. It aims to provide the efficient customer services
and assistance for maintaining the good relationship with the customer in longer run.

Vision of Foodifu app is to build a large and secured customer base and expand its
business in wider market ranges and sustain in the market by providing better customer
experience and quality services.
Macro/micro analysis of the market place
Macro Analysis
In order to make analysis of external factors in business environment, PESTEL model is
most suitable. The model contains 6 factors which are influential over the working of the
business. In context to foodifu app , the PESTEL analysis is discussed below- Political- The foodifu app is needed work in accordance with governmental policies and
directions so that it can avoid any trouble of administrative nature. Avoiding political
troubles will ensure stability of business in market. Economic- It is necessary for the foodifu app to analyse factors related to economy such
as inflation in the economy which can affect profitability of the business will be affected
as purchasing power of the people will reduce. Social- The changing trends of the customers and the needs and preference of the
customers must be taken into consideration so that the foodifu app can attract new
customers from the market (Frolova, Alwaely and Nikishina, 2021). Technological- The foodifu app must ensure that it in builts or ensures advance
technologies in to its operations so that it can serve the customers with the best. This will
help in increasing the market share for the business. Environmental- The foodifu app must ensure that it does not include plastic bags or other
resources which degrade the environment other the business can face hardships.
Compliance with environmental regulation is very important.
 Legal- The foodifu app must comply with food and safety regulations and other
legislations so that there is legal consequences faced by the business. The compliance
with the laws ensures smooth functioning and attract customers.
Micro Analysis
This analysis utilised to recognised the strengths, weaknesses , opportunities & threats of
the business through SWOT analysis so that it make easily for the organisation to focus on the
their operations and maintain and current marketing situations so that it can help to analyse the

whole scenario of the business. The SWOT analysis are explained below in context of foodifu
app.
Strengths Weaknesses
 The main strength of this application is
that it cover the whole market area and
also satisfy their customers with their
quick services.
 Another strength is considered is its
target market it target the whole
London market with their famous food
items so that this app deliver the food
that loved by kids, youngster, middle
age and old age people.
 The main weakness of this app is
considered that sometime it can create
the network problem error which can
affect the marketing of the business.
 This app is not that much familiar with
the old age people so poor customer
preferences is their weakness.
Opportunities Threats
 The main opportunity of this Foodifu
App is that it can take the more
attention of the people and attract it
with their instant ordered item delivery.
 This app provide the free delivery
charges to attract the customers with
lots of coupons , discounts and offers.
 Lots of competition in the market can
affect the sales of this app.
 Changing in the marketing scenario can
affect the business operations.
Competitor analysis & highlight the competitive advantage
Porters' Five Forces
This model can help to identify the competitive situation so that it will make easily for
the organization to examine the forces of the buyers, suppliers, competitors and new
organizations at the marketplace. The explanation of this model as per the Foodifu app are
discussed below-

 Threat of new entry – The force of new entries is high for this business new startup
because in this time people are more concerned about the technologies and like to use
technological products so that existing business can adopt more technological
advancements and there is a more probability to more new entries will come up with their
new and innovative ideas in the market (Halunko, Ivanyshchuk and Popovych, 2018). Bargaining Power of Buyer – The force of bargaining power of the buyer is moderate
because they can option to switch their brand very easily but this Foodifu app will serve
the traditional and famous food items with the free delivery so that it can help to attract
the customers so that they shall not easily switch to another brand. Bargaining Power of Supplier – Suppliers power is moderate, it mainly concerned about
the suppliers applicabilities. Foodifu app can deal with the famous restaurants and hotels
and also create the effective delivery staff who will all 24 hours available to deliver the
products. So this business plan will create the sufficient number of suppliers. Threat of substitute – The force of the substitute is moderate because it app will provide
the famous and traditional food of UK so that it will attract the customers so there is less
chance that people will see its substitute because it can provide the fastest deliver as per
the convenience of the customers so people will not switch to another app very easily.
 Competitive Rivalry – This step mainly focus on the current position of the competitor so
that organization can take more competitive advantages. The force of the competitive
rivalry is high because in this fast running world everything mainly depend uopn
technologies so there is more chances that people will come up with fresh and more
innovative ideas with the best usage of technologies (Leonidou and et.al., 2018).
Segmentation analysis, providing market statistics (size & growth)
This analysis help understand the study of customers that mainly divided in various small
groups and help to analyses the specific characteristics such as age, income, personality, attitude
and behavior, buying habits of the customers. With the help of segment analysis, businesses can
easily There are four kind of market segmentation like demographic, geographic, behavioral and
psycho-graphic segmentation. The description of these four market segmentation are given
below- Demographic Segmentation - This segmentation mainly focus on the customers and
mainly concerned about the characteristics of the customers. This market segmentation

generally based on the B2B and B2C business. If anyone is doing B2B business then the
traits that includes industry type, size of the company, role and position of the company.
B2C business mainly include demographic traits like age, education, occupation, status
and gender. The main purpose of Foodifu app will provide their services to every age
group members so that business will easily make more profitability. Geographic Segmentation- With the help of this segmentation, business easily split the
entire customers that are based on various geographical areas. This segmentation can help
to cover the various market effectively and help the organization to cover the whole
market so that organization can earn more profit. In context of Foodifu app, it will cover
the most possibly the whole London market by their services (Manninen and Meristö,
2019). Psycho-graphic Segmentation – The main concern of this segmentation is to separate the
customers on the basis of their personalities. This segmentation mainly include the
attitude, lifestyle, values, belief and interest of the customers so that it will make easily
for the Foodifu app to know more about their targeted customers.
 Behavioral Segmentation – This segmentation divided the who market on the basis of
their previous behavior. This segmentation mainly include knowledge of the products,
purchasing power of the buyer, purchase patterns, earlier purchase, business awareness
and rating of the specific products and services. In context of Foodifu, this app will
understand about the taste and preference of the customers on the basis of their feedback
and review and rating on previous which will help to identify the buying behavior of the
customers.
Marketing Strategy
Marketing Mix Analysis
Marketing mix is considered the set of action and plan that is mainly utilize to promote
the products and brand at the marketplace. With the help of this marketing strategy, new
businesses, startups and existing businesses easily maintain the whole market scenario which can
help to create new product, set effective price of the brand, launch the product in new market and
promote the product through social media and traditional media channels. The description of
marketing strategy of 7 P's of marketing mix as per the new business plan that is Foodifu app are
discussed below-

 Product – Product mainly contain the items that will be sold by the organization. As per
the Foodifu app context, this app mainly provide their services to the London based
customers. This app provide the popular and traditional food items within given time so
that it will attract the large number of customers. Price – The price of the products considered the most influential factors that can help to
improve the marketing of the business. Foodifu app will adopt various pricing strategies
like price penetration, cost plus etc. and offer the low price of the food products with free
delivery charges so that everyone will consider the value of money and use this
technology to take their services. Place – This is contain as the point of the sale that can help the customer to easily get the
product and services. Foodifu app will cover the whole market of London so everyone
will order the food and beverages through this app from time and anywhere so that
people will take advantage of this app and enjoy the traditional and famous food at their
home , office and their convenience place (Morozova, Popkova and Litvinova, 2019). Promotion – The main motive of this activities is to promote the business so that
everyone will know about the products and services easily. Foodifu app contain the good
plan to promote and advertise their business so that they everyone will know about this
app. Foodifu app will have plan to promote their business through digital marketing
platforms like websites, you tubes, Facebook, Instagram and Twitter so that most of the
people will know about this app. Physical Evidence – It mainly refer the physical environment where people will go and
purchase any particular product. Foodifu is an app so people will take its advantage
through online media and internet. Foodifu app will establish their office so that it will
make easily for their employees and delivery person so that they can easily contact with
the company in term of any issue. People – This P's mainly concerned about to target the customer and other people directly
& indirectly. Foodifu app will target the whole market and all the people that belong to
the different age group. This business will train their staff members so that they can
easily connect with the people.

 Process – It can help to maintain the process of the business in term of the product and
services, customers and other operations. Process can help to improve the performance of
the business so it is essential for the Foodifu App to adopt some advanced technologies
and features that will help to get the more attention of the customers in term of their their
convenience level (Mulatu, 2021).
Market growth strategy
Ansoff Model
This model consider as the prominent tool and technique that mainly used by the
organizations to attain the marketing growth of the business. There are four strategies are
involved that will help in the market growth. Foodifu app will use this model so that this new
business will easily analyses the market growth with the help of this strategies. The description
of these market strategies will help the business to choose one which will help in the
development of the business. Market Penetration- On the basis of this market growth strategy, business easily use
their existing products at existing marketplace. The main purpose of this strategy is to
expand their market share. Product development- As per this marketing growth strategy, new product mainly
developed that is offered by the existing business and market. This is used by companies
when they well know about the latest market and also come up with the speciifc
innovative solutions which can help to meet the expectation of the existing market. Market development – This strategy represent that condition when business enter into the
new market but with the existing products. The main motive of this strategy is to expand
the geographical areas on the basis of customer segmentation. This business mainly
expanded into new market.
 Diversification – On the basis of this marketing strategy, a business is about to enter into
the new market and considered the most risky strategy because sometimes owner of the
business are not even well aware about he customer preferences & also market.
Foodifu app will opt the diversification market growth strategy become it will come up
with the new business plan. It contain the new products and services. This strategy is very risky
because business will no idea about the internal and external knowledge about the market.

Resources required for venture including source of finance
A new startup mainly need large amount and fund so that it will make easily access of all
the resources and operations. This plan is all about the app that is require the advanced
technologies which can help to easy access of the Foodifu app. There are many sources of
finance which will be considered by this app are given below- Human Resources – It cam help to establish the new business idea successfully and
maintain the require skills and knowledge effectively. This app will require the various
sources of human resource planning. Human resource department will play an efficient
role for the development of the new plan so that Foodifu can easily recruit their staff
members and provide them effective training sessions. by recruiting with internal &
external sources it will help to select the most potential candidate for their business
(Ogamba, 2019).
 Financial Resources - These are various monetary resources that can help to the
business in the development and growth and also aid in execute business operations
right direction. Some source of finance which are mainly considered by the Foodifu aap
is bank loan that can provide the security and it help to agreed interest rate. This will aid
in buying the assets of business & help to managing all busines operations of the
business. This will help to new business to provide the fund by personal saving of owner
and these savings considered the most useful financial support which help to reduce the
pressure of interest rate.
Risk analysis & how those risks will be treated
Risk analysis is considered the most effective process that help to analyses the current
market situation of business & considered the consequences of the business in term of internal
& external environment. Risk can be analyses by different approaches that include quantitative
& qualitative approaches. There are five stage of the risk analysis which are explained below- Identify the hazards – It is analysed to hazard so that all the business operation run
effectively. Business can take review from various people so that it will make easily to
identify the risk and business will considered the modification according to this. A
manger need to check the production and operational process & identify various hazards
of business. A business need to measure the hazards that affect harmful substance &
level of noise.

 Decide who might be harmed & how -After measuring risk, the next step would be
evaluating factors that is very harming for the business. It is a facts that business need to
remember the few workers who have specific need in business. Evaluate the risks and decide on precaution - After identifying factors of the risk,
manager of Foodifu app need to evaluate element that identify the risk, it can help to
solve the risk (Urbaniec, 2018). Record the findings & implement them- After evaluating risk & deciding the specific
methods to solve the issues. The manager of the Fodifu app need to evaluate the
outcomes of the source which can help to identify the risk and apply the useful
implications.
 Review your risk assessment and update if necessary - This is considered the last step of
risk analysis that determine the business review and use all the steps that is done in solve
the risk & evaluate each and every factor which can make the change.

CONCLUSION
As per this report it is concluded that entrepreneurial approach is essential for the
business development. This report discussed about the new business plan that can invented and
considered as the new start-up. This report determine the importance of various models like
micro and macro environmental factors with the help of PESTLE and Swot analysis. This report
also used porter model to identified the competitive factors and also use Ansoff model that can
help to provide the strategy for the growth of the business. This report also discussed about the
risk analysis and financial resources of the business.

REFERENCES
Books and Journals
Anđelić, S., Brnjas, Z. and Domazet, I., 2017. Education and entrepreneurship. Journal of
security and sustainability issues, pp.383-393.
Drobyazko, S. and et.al., 2019. Innovative entrepreneurship models in the management system of
enterprise competitiveness. Journal of Entrepreneurship Education. 22(4). pp.1-6.
Frolova, Y., Alwaely, S. A. and Nikishina, O., 2021. Knowledge Management in
Entrepreneurship Education as the Basis for Creative Business Development.
Sustainability. 13(3). p.1167.
Halunko, V., Ivanyshchuk, A. and Popovych, T., 2018. Global experience of social
entrepreneurship development. Baltic Journal of Economic Studies. 4(1). pp.62-67.
Leonidou, E. and et.al., 2018. An integrative framework of stakeholder engagement for
innovation management and entrepreneurship development. Journal of Business
Research.
Manninen, A. and Meristö, T., 2019. Supporting SME Innovation, Growth and New Business
Development by Regional Entrepreneurship Model. Responsible Innovation and
Entrepreneurship.
Morozova, I. A., Popkova, E.G. and Litvinova, T. N., 2019. Sustainable development of global
entrepreneurship: infrastructure and perspectives. International Entrepreneurship and
Management Journal. 15(2). pp.589-597.
Mulatu, E., 2021. Entrepreneurship Skills and Business Development Training Manual.
Ogamba, I. K., 2019. Millennials empowerment: youth entrepreneurship for sustainable
development. World Journal of Entrepreneurship, Management and Sustainable
Development.
Urbaniec, M., 2018. Sustainable entrepreneurship: Innovation-related activities in European
enterprises. Polish Journal of Environmental Studies. 27(4). pp.1773-1779.