Executive Summary Report: Hiet Food - An Entrepreneurship Venture

The report presents an executive summary of 'Hiet Food,' a food venture conceived by an entrepreneur in response to job losses caused by COVID-19. The business aims to offer organic juices and healthy food, including pizza with organic sauce, through a food truck in London. The report details the business plan, including market analysis, product and service descriptions, USP and competitor analysis, operation plan, risk and contingency plan, sales and marketing strategies, finance and funding plans, and management team. Hiet Food targets health-conscious consumers near Convent Garden, emphasizing the delivery of tasty and healthy food options. The venture requires £100,000 in funding and focuses on attracting customers through high-quality, organic offerings, especially during the pandemic, to gain a competitive edge. The report includes market segmentation, target market analysis, and competitor analysis to highlight the business's strengths and weaknesses.

ENTREPRENEURSHIP

EXECUTIVE SUMMARY
Entrepreneurship refers to a setting up of business operations by taking financial risk to
generate profitable results. In this a person who is working in a bank over last 10 years but due to
COVID 19 employees are losing their job. At this time an employee of that bank wants to
become an entrepreneur by opening a niche venturesthat is highly beneficial during the pandemic
situation(Yang and Han, 2021) . In this that employee focuses on indulging in food industry by
opening a food restaurant named “Hiet food” that sales organic juices and healthy diet food and
meals with junk food touch within food truck so that customers get the delivery at their doorstep.
In COVID 19 people are more diet and health conscious that helps in encouraging profits of
business within pandemic situation. This business will reflects an amount of £ 100,000 that is
generated from their saving, by taking loan from bank. It is a small amount because entrepreneur
does not have much capital to invest due to this that person opens a niche venture that also fulfill
COVID 19 challenge. This report demonstrates market opportunity along with details of business
and locations so that large base of customers is attracted towards it. Further it represents market
analysis, products and service description along with USP and competitor analysis so that it is
easy for entrepreneur to attract customers. This report present risk and contingency plan, sales
and marketing strategy, management team, finance and funding plans that helps in easily operate
business in pandemic situation.

Table of Contents
EXECUTIVE SUMMARY.........................................................................................................................2
INTRODUCTION.......................................................................................................................................4
BUSINESS DETAILS.................................................................................................................................4
LOCATIONS..............................................................................................................................................5
MARKET/INDUSTRY ANALYSIS...........................................................................................................5
PRODUCT/ SERVICE ANALYSIS...........................................................................................................6
USP AND COMPETITOR ANALYSIS.....................................................................................................7
OPERATION PLAN...................................................................................................................................8
RISK AND CONTINGENCY PLAN.........................................................................................................9
SALES AND MARKETING STRATEGY.................................................................................................9
FINANCE AND FUNDING PLANS........................................................................................................10
MANAGEMENT TEAM..........................................................................................................................10
CONCLUSION.........................................................................................................................................11
REFERENCES..........................................................................................................................................12

INTRODUCTION
Entrepreneurship defines as an act of creating business to generate or earn high profits
and revenues(Sharma, Talan and Jain, 2020). This report is based on an entrepreneur who wants
to open a firm to help customers and place at the time of COVID 19. This opportunity is raise
from entrepreneur job that is loss due to COVID 19 broke. An entrepreneur opens a food
restaurant that is “Hiet Food” in this organic dietary and healthy food is to be delivered to
customer on their doorsteps within particular market in London, UK to provide benefits to
customers and earn high profitable results within the period of 1 year. To effectively understand
an entrepreneur business venture, this report demonstrate a business plan that includes business
details, location, market and product analysis, competitors analysis, operation plan, financial
analysis, risk and contingency plan, management plan that helps in effectively open a niche
venture in market and gain profitable results.
BUSINESS DETAILS
An entrepreneur has involved in food industry to help people within situation of COVID
19. For this an individual person opens a food restaurant in London, UK in 2020. Therefore to
help the local people of London, food restaurant focus on quality of items that they offered to
customers along with services of delivering food to customers with full hygiene and safety. It is
very essential to follow safety and health measures because of pandemic attack in world(Carretta
and et. al., 2020). It helps restaurant to enhance their profits and revenues so that they invest
further in their business to become a leading company in UK. In this an entrepreneur need to
focus on several recipes for organic whipped cream sauce pizza with lots of nutrients and
vitamins along with dessert of dark organic chocolate with flavor of paan-jeer that is highly
effective for people and also helps in developing immunity at COVID 19 time. These products
are sold by using food truck in which local customers order food via official website of “Hite
food” without coming out from their home. The specialty of this food restaurant is organic sauce
pizza, fresh veggie baked balls with organic rose and cranberry sauce that is highly effective to
boost immunity of a person at the time of COVID 19 without losing taste. This helps in attracting
customers in pandemic situation. to operate this business entrepreneur need £ 100,000 that is
raised from entrepreneur saving, taking bank loan.

The mission of Hiet Foods is to offer healthy and dietary food to customers in the areaof
London, UK. We are also focus on offering excellent services that customer except during
pandemic situation(Henderson, Goldring and Simeon-Dubach, 2020). The main objective is to
become customer first choice in healthy and tasty food within food industry so that long term
survival is to be enjoyed.
LOCATIONS
The “Hiet Foods” sale their products mainly in the street of London by targeting only
health conscious people who want to become healthy without losing taste of junk food. It is
operated near Convent garden that is highly busiest area of London.Due to impact of COVID 19
junk food affects the life of people as it reduces human immunity power to overcome this issue
“Hiet Foods” come up with an idea of healthy and dietary food with dessert at
customerdoorstep.As London is a place where people are love food but at the same time focus on
their health and diet to stay healthy that helps “Hiet Foods” to generate profitable results in
London.
MARKET/INDUSTRY ANALYSIS
Hiet foods is a restaurant that is open for attracting customers towards tasty, dietary and
healthy foods to the local people at reasonable cost near to the convent garden, London. At this
location number of food businesses is offered their products and services to
customers(Bhattacharyya, 2020). To gain competition in market an entrepreneur focuses on
attracting customers towards the healthy food. The adverse effect of Corona virus is highly
affected the customers who have low immunity power to resolve this issue an entrepreneur focus
on offerings tasty healthy food and desserts to customers that boost customer immunity to fight
with this pandemic. This helps in grow the market and profits of Hiet Foods. In this food
restaurant estimate that there sales are generate by providing foods and desserts to customers at
their doorstep. To effectively analyze market there are two factors that demonstrated below:
 Market segmentation- For Hiet Foods the market segments are generally based on
demographic and behavior basis(Ratten, 2021). It helps business firm to understand the
customers and learn about what the buyer needs so that profits and revenues are to be
increased. In terms of demographic nature market is segments via age, gender, income,

education, occupation where behavioral segments is based on intensity of customers for
using products, brand loyalty, price sensitivity, technology adoption etc. It is very
essential for a niche venture to segment the market so that high growth is to be enjoyed
by an enterprise within marketplace at the time of COVID 19. This helps Hiet foods to
take full benefit of at this pandemic situation(Prah and Sibiri, 2020).
 Target market- After segmenting the market it is very essential to target the market so
that firm will gain profitable results along with enjoys long term survival. It represents
group of potential customers to who firm wants to sell their products and
services(Thukral,2021). In this local area of London i.e. Convent Garden there are
number of customers who are attracted towards buy the food and desserts to fulfill
craving along with enjoying health benefits. In terms of Hiet Foods, entrepreneur targets
the market on the basis of lifestyle. In London people lifestyle is based on acquiring
healthy and dietary foods without losing taste of pizza etc. in corona virus situation
offering healthy foods helps in exploiting the situation and grab high amount of profits.
In this Hiet Foods also targets customers who are price sensitive because they offer
products at reasonable cost with good quality that attracts the local people near Convent
garden, London.
PRODUCT/ SERVICE ANALYSIS
Hiet Foods, offer a wide range of healthy and dietary tasty food in London Local Street
that includes pizza with organic sauce, fruit juice and desserts that includes healthy supplements
to help customers in boosting immunity power(Fındık-Coşkunçay and Coşkunçay, 2021).The life
of the product that was sold by Hiet Foods is around 3to 4 hours at normal room temperature. It
resembles high nutrients and vitamins that are valuable for people of London to beat COVID 19.
In London restaurant operates to fulfill the needs of people where people are love to food but at
the same time health and diet conscious. In this customers buy food by order it from online
website where Hiet Food offer pizza with different size such as small, medium and large.in this
customers buy according to their cravings.
Hiet Foods is an effective takeout restaurant where people order food and desserts at the
official websites due to the critical situation of COVID19. It is to be analyzed those main
products of this food restaurant are served by using food truck as per customer order(Nurand

et.al., 2020). In this restaurant take orders via phone or by visiting at location. In this efficient
food preparation is used by kitchen staff so that large base of customers is attracted.
USP AND COMPETITOR ANALYSIS
USP analysis is a marketing strategy that is used to highlighting special attributes of
products that is marketed to firm’s customers(Zighan, 2020). It represents the elements of
products that are differentiating from competitors in business industry. An entrepreneur of Hiet
Foods, sale desserts and foods to customers that fully organic and healthy and helps in boosts
customer immunity power to sustain in pandemic situation. This is a USP of the food restaurant
that helps in attracting number of customers in the local area of Convent Garden, London. This
type of food item is not sold by competitors to their customers that highly beneficial for Hiet
Foods to attracts more and more customers in COBID 19 situation when many of large
businesses facing major loss.
To open a food restaurant in Convent Garden, London it is very essential to examine the
competitor’s analysis so that high profitable results are enjoyed by business along with attracting
number of customers(Qermane and Mancha, 2020). For this entrepreneur of Hiet Foods focus on
analyzing strength and weakness of the competitors by using competitor’s analysis framework
that is presented below:
Basis Competitors 1 (La Ballerina
Convent)
Competitor 2 (Tuttons)
Company specific It served the Italian food to
customers with only take away
delivery.
It served the British menu in
Brasserie style interior on
outdoor terrace. It provides
only Dine-in services.
Target customers They generally target those
people who love food.
They generally target the
people who like to explore
hotel and restaurant foods on
regular basis.
Product specific on the basis
of pricing
The pricing they charge is
generally high because of
They charge the reasonable
cost but due to COVID 19

implementing more safety
measures due to COVID 19.
people are not like to visit
restaurant to eat food.
Positioning Customer chooses this
restaurant because it offers the
take away facility that attracts
customers towards La
Ballerina Convent (Kirzner,
2015).
Customer choose
By analyzing competitors by Hiet Foods they also demonstrate own strength and
weaknesses for why customers liking this food restaurant.
 Strength
o The best strength is location who offers best quality food with a feature of organic
flavor that is merely not available at competitor’s food restaurant(KRASNIQIand
et. al., 2021).
o Also provide food delivery at customer doorstep with full safety and security
measures.
 Weaknesses
o Low start-up cost
OPERATION PLAN
It refers to an extremely detail oriented plan that specifically defines how and team and
department contributes to reach the goal. It reflects daily task that is needed to run a business for
generating profitable results(Munro, 2020). In terms of Hiet Foods, operation plan demonstrate
that in what manner this food restaurant deliver their products and services to customers so that
overall mission of operating the business is to be fulfilled successfully (Hisrich, Peters and
Shepherd, 2017).
Hiet Foods deliver their products to customers by using food truck. To get the food
customer order food online via company official websites and online food delivery mobile
application(Villaseca, Navío-Marco and Gimeno, 2020). At the time restaurant provide food to
customers using food truck by following all safety measures like sanitizer, wearing mask, clean

and hygienic food supplements etc. that highly attracts customers and firm will gain profitable
advantage.
RISK AND CONTINGENCY PLAN
Risk and contingency plan refers to an outcome rather than expected plan. It is mainly
used to risk management for exceptional risk that mainly has catastrophic
consequences(Melkani, Singh and Mehta, 2021). In context of Hiet Foods, planning is done
carefully for attaining strategic goals but if these goals are not met than an entrepreneur is
decided to set a zone for meeting sales and financial objectives. If food restaurant sale is to be
affected by 5% then it will create risk(Rok and Kulik, 2020). Therefore to manage this risk
manager need to reflects some actions under risk and contingency plan that are presented below:
 In terms of Heit foods if sales are reduced by 5% than manager of food restaurant focus
on doubling their promotion strategy within marketplace using social media because it is
cost effective and more people are active on social media. This strategy is used for
enhancing sales within 2 months(Hussain and Spady, 2020). If it does not work than Hiet
food offer discounts on their food item.
 In context of Hiet Foods, they face major issue in liquidity for this they need to examine
cash flow projections so that issues related to lack of liquidity is to be solved on time.
SALES AND MARKETING STRATEGY
Hiet Foods is a new venture that is operated by an entrepreneur to prove them in the
business industry in order to gain profits and respect within business industry. Therefore, by
doing business entrepreneur prominently sales our business enterprise using products and
delivery factors(Diasand et. al., 2021) (. The sales strategy of Hiet Foods is regular flow of
customers in pandemic situation due to convenient location and effective food products. The
real effort of this sales strategy is presented when first time customers become a long term user
by developing positive relationship so that positive word of mouth is created. This helps in
encouraging their family and friends towards food restaurant. In this industry customer centric
service are needed where every member of business enterprise indulge in attracting customers
for earn high profits and revenues to solve lack of capital and liquidity issue (Diasand et.al.,
2021). To forecast the saleHiet Foodsuse key performance indicator where they examine

employee’s performance in delivering food products to customers so that corrective measures are
to be taken.
Marketing strategy of Hiet Foods is representing a corporate identification that clearly
defines the niche market in terms that is significant to customers.Place strategy- Thus this food
restaurants target market includes on basic segments that is lifestyle and price sensitive people in
Convent garden, London and nearby location. This restaurant offers effective service in terms of
safe and secure delivery of foods, reasonable cost etc. It is very essential for Hiet Foods to focus
on target market to understand their needs and work on them so that high profitable results are
enjoyed(Sudhakar, 2020). The market trend shows that demand of healthy, dietary and tasty food
is increased day by day that helps in exploring the business in all over the London,UK. As it also
offer takes away services to customers that help in enhancing sales and profits(Velásquez and
Lara, 2021). Promotional strategy- To prominently reach the customers Hiet Foods adopts local
media like radio and newspaper along with social media to attract customers towards
products.Pricing strategy of Hiet Foods is reflecting in a competitive manner that helps business
to enjoy long term benefits within marketplace. in this the pricing strategy is to be developed in
such a manner that delivery of foods does not hamper firm financial resources(Bandera, 2021).
In this they charge the £ 20 for one pizza, £ 15 for extra organic sauce as a dip, £ 30 for fresh
veggie baked balls with organic rose and cranberry sauce.
FINANCE AND FUNDING PLANS
In terms of Hiet Foods, budget of this restaurant is the £ 100,000 for this it is essential to
develop finance and funding plan is to be demonstrated below:

Profit and loss account
Income
Statement
Year 1 Jan Feb March April May June July Aug Sep Oct Nov Dec
Sales Revenue £ 120,000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000 10000
Less: Cost of
Sales
Raw material
£
45,000 3750 3750 3750 3750 3750 3750 3750 3750 3750 3750 3750 3750
Labor
£
15,000 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250
Gross profit £ 60,000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000
Less: period cost £ 35,000 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67
Net Profit £ 25,000 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33
Year 2 Jan Feb March April May June July Aug Sep Oct Nov Dec
Sales Revenue £ 126,000 10500 10500 10500 10500 10500 10500 10500 10500 10500 10500 10500 10500
Less: Cost of
Sales
Raw material £ 47,250 3937.5 3937.5 3937.5 3937.5 3937.5 3937.5 3937.5 3937.5 3937.5 3937.5 3937.5 3937.5
Labor £ 15,750 1312.5 1312.5 1312.5 1312.5 1312.5 1312.5 1312.5 1312.5 1312.5 1312.5 1312.5 1312.5
Gross profit £ 63,000 5250 5250 5250 5250 5250 5250 5250 5250 5250 5250 5250 5250
Less: period cost £ 35,000 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67
Net Profit £ 28,000 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33
Year 3 Jan Feb March April May June July Aug Sep Oct Nov Dec
Sales Revenue £ 132,300 11025 11025 11025 11025 11025 11025 11025 11025 11025 11025 11025 11025
Less: Cost of
Sales
Raw material £ 49,612.50 4134.38 4134.38 4134.38 4134.38 4134.38 4134.38 4134.38 4134.38 4134.38 4134.38 4134.38 4134.38
Labor £ 16,537.50 1378.13 1378.13 1378.13 1378.13 1378.13 1378.13 1378.13 1378.13 1378.13 1378.13 1378.13 1378.13
Gross profit £ 66,150 5512.50 5512.50 5512.50 5512.50 5512.50 5512.50 5512.50 5512.50 5512.50 5512.50 5512.50 5512.50

Less: period cost £ 35,000 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67
Net Profit £ 31,150 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83
Year 4 Jan Feb March April May June July Aug Sep Oct Nov Dec
Sales Revenue
£
138,915
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
11576.2
5
Less: Cost of
Sales
Raw material
£
52,093.13 4341.09 4341.09 4341.09 4341.09 4341.09 4341.09 4341.09 4341.09 4341.09 4341.09 4341.09 4341.09
Labor
£
17,364.38 1447.03 1447.03 1447.03 1447.03 1447.03 1447.03 1447.03 1447.03 1447.03 1447.03 1447.03 1447.03
Gross profit
£
69,457.50 5788.13 5788.13 5788.13 5788.13 5788.13 5788.13 5788.13 5788.13 5788.13 5788.13 5788.13 5788.13
Less: period cost
£
35,000.00 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67 2916.67
Net Profit
£
34,457.50 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46
Cash flow statement
Cash flow
statement Year 1 Jan Feb March April May June July Aug Sep Oct Nov Dec
Net profit
£
25,000 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33
Depreciation
£
3,500 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67
Less: Changes in
working capital
-£
3,500 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67
Cash from
operating activities
£
25,000 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33 2083.33
Investing Activities
Less: purchase of
machinery
£
125,000
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7
10416.6
7

Cash used in
investing activities
-£
125,000
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
-
10416.6
7
Cash from all
activities
-£
100,000
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
-
8333.33
Less: cash at
beginning
£
115,000 9583.33 9583.33 9583.33 9583.33 9583.33 9583.33 9583.33 9583.33 9583.33 9583.33 9583.33 9583.33
Cash at the end
£
15,000 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250
Cash flow
statement Year 2 Jan Feb March April May June July Aug Sep Oct Nov Dec
Net profit
£
28,000.00 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33 2333.33
Depreciation
£
3,500.00 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67
Less: Changes in
working capital
£
4,000.00 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33
Cash from
operating activities
£
35,500.00 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33
Investing Activities
Less: purchase of
machinery
Cash used in
investing activities
Cash from all
activities
£
35,500.00 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33 2958.33
Less: cash at
beginning
£
15,000.00 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250 1250
Cash at the end
£
20,500.00 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33
Cash flow
statement Year 3 Jan Feb March April May June July Aug Sep Oct Nov Dec
Net profit £ 31,150.00 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83
Depreciation £ 3,500.00 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67

Less: Changes in
working capital
-£
3,500.00 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67 -291.67
Cash from
operating activities £ 31,150.00 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83
Investing Activities
Less: purchase of
machinery
Cash used in
investing activities
Cash from all
activities £ 31,150.00 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83 2595.83
Less: cash at
beginning £ 20,500.00 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33 1708.33
Cash at the end £ 10,650.00 887.50 887.50 887.50 887.50 887.50 887.50 887.50 887.50 887.50 887.50 887.50 887.50
Cash flow
statement Year 4 Jan Feb March April May June July Aug Sep Oct Nov Dec
Net profit
£
34,457.50 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46 2871.46
Depreciation
£
3,500.00 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67 291.67
Less: Changes in
working capital
£
4,000.00 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33 333.33
Cash from
operating activities
£
41,957.50 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46
Investing Activities
Less: purchase of
machinery
Cash used in
investing activities
Cash from all
activities
£
41,957.50 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46 3496.46
Less: cash at
beginning
£
10,650.00 887.5 887.5 887.5 887.5 887.5 887.5 887.5 887.5 887.5 887.5 887.5 887.5

Cash at the end
£
31,307.50 2608.96 2608.96 2608.96 2608.96 2608.96 2608.96 2608.96 2608.96 2608.96 2608.96 2608.96 2608.96
Balance sheet
Balance sheet Year 1 Year 2 Year 3 Year 4
Total Assets
Non current assets
£
125,000
£
125,000
£
125,000
£
125,000.00
Current assets:
Inventory
£
15,000
£
15,000
£
15,000
£
15,000.00
Accounts payable
£
6,000
£
6,300
£
6,615
£
6,945.75
Cash
£
15,000
£
20,500
£
10,650
£
31,307.50
Total Assets
£
161,000
£
166,800
£
157,265
£
178,253.25
Equity and liabilities
Noncurrent liabilities
£
45,000.00
£
47,250.00
£
49,612.50
£
52,093.13
Current liabilities
£
15,000.00
£
15,300.00
£
15,606.00
£
15,918.12
Shareholders fund
Owners capital
£
101,000
£
104,250.00
£
92,046.50
£
110,242.01
Total equities and liabilities
£
161,000
£
166,800
£
157,265
£
178,253.25

MANAGEMENT TEAM
In terms of Hiet Foods, management is responsible for using resources wisely, pay debts, and follow all rules and
regulations(Sudhakar, 2020)..People who are working in Hiet Foods areaso want to be part of management team who reflects their
views, creative ideas, performance and growth in terms of restaurant profitability. In this an entrepreneur focuses on operating
business in Convent Garden, London to fully exploit the situation of pandemic period by gaining profitable results.in this an
entrepreneur have an effective time management, team handling skills, creative ideas due to this an individual is able to handle the
team effectively and efficiently. To effectively manger the whole team an entrepreneur regulates justified salary that attracts and
motivates people to work efficiently so that ultimate goal of the organisation is to be attained effectively and efficiently(Thukral and
Ratten, 2021). In this manager adopts continuous improvement policy to motivates workers to keep updated with the market trends by
examine customers’ needs and desires. This also helps in reducing cost and delivery time along with improving quality of food and
services that satisfy customer for longer period of time.
CONCLUSION
From the above report it is to be concluded that developing a business plan is highly significant to get profitable results within
marketplace. As an entrepreneur it is essential to prepare a business plan so that costs are effectively used and it also helps in attracting
large base of customers. This report inculcates market strategy, management team, business details, locations etc. All these factors are
using to gain profitable results by delivering customers excellent services and products.

REFERENCES
Books and Journal
Bandera, C., 2021. Teaching STEM Entrepreneurship With Societal Significance: Building on the Small Business Innovation
Research Program. Entrepreneurship Education and Pedagogy, p.2515127421994785.
Bhattacharyya, R., 2020. COVID-19 Pandemic: Business Continuity Checklist.
Carretta, G. and et. al., 2020. COVID-19 challenge: proactive management of a Tertiary University Hospital in Veneto Region,
Italy. Pathogens and Global Health. 114(6).pp.309-317.
Dias, Á.and et. al., 2021. Post-pandemic recovery strategies: revitalizing lifestyle entrepreneurship. Journal of Policy Research in
Tourism, Leisure and Events, pp.1-18.
Dias, Á.and et.al., 2021. Post-pandemic recovery strategies: revitalizing lifestyle entrepreneurship. Journal of Policy Research in
Tourism, Leisure and Events, pp.1-18.
Fındık-Coşkunçay, D. and Coşkunçay, A., 2021. Entrepreneurship and Entrepreneurial Ecosystem: Effects of COVID-19 and the Role
of ICTs. In Handbook of Research on Entrepreneurship, Innovation, Sustainability, and ICTs in the Post-COVID-19 Era (pp.
184-204).IGI Global.
Henderson, M.K., Goldring, K. and Simeon-Dubach, D., 2020. ISBER_UHN Virtual Symposium 2020: Biobank Business Planning
Today for a Secure and Sustainable Tomorrow—Workshop Impressions and Lessons Learned. Biopreservation and
Biobanking. 18(6). pp.594-594.
Hisrich, R.D., Peters, M.P. and Shepherd, D.A., 2017. Entrepreneurship. McGraw-Hill Education.
Hussain, W. and Spady, W.G., 2020, December. Industrial training courses: A challenge during the COVID19 pandemic. In 2020
IEEE International Conference on Teaching, Assessment, and Learning for Engineering (TALE) (pp. 189-196). IEEE.
Kirzner, I.M., 2015. Competition and entrepreneurship. University of Chicago press.

KRASNIQI, B.A.and et. al., 2021. COVID-19 AND SMEs IN KOSOVO: ASSESSING EFFECT AND POLICY
PREFERENCES. Journal of Developmental Entrepreneurship, p.2150005.
Melkani, E., Singh, K. and Mehta, M., 2021.Productivity of rural women through entrepreneurship intervention. International Journal
of Education and Management Studies. 11(1).pp.7-12.
Munro, V., 2020.Innovation, Entrepreneurship, and Solving Wicked Challenges through CSR and CSV.In CSR for Purpose, Shared
Value and Deep Transformation. Emerald Publishing Limited.
Nur, A.C.and et.al., 2020. Opportunity to Develop on Enterpreneurial Outbreaks of Endemic COVID-19 in South Sulawesi
Indonesia. Available at SSRN 3637252.
Prah, D. and Sibiri, H., 2020. The resilience of African migrant entrepreneurs in China under COVID-19. Journal of Entrepreneurship
in Emerging Economies.
Qermane, K. and Mancha, R., 2020. WHOOP, Inc.: Digital Entrepreneurship During the Covid-19 Pandemic. Entrepreneurship
Education and Pedagogy, p.2515127420975181.
Ratten, V. ed., 2021. COVID-19 and Entrepreneurship: Challenges and Opportunities for Small Business. Routledge.
Rok, B. and Kulik, M., 2020. Circular start-up development: the case of positive impact entrepreneurship in Poland. Corporate
Governance: The International Journal of Business in Society.
Sharma, G.D., Talan, G. and Jain, M., 2020. Policy response to the economic challenge from COVID‐19 in India: A qualitative
enquiry. Journal of Public Affairs. 20(4).p.e2206.
Sudhakar, G., 2020. Entrepreneurship for Economic Development in India. Sudhakar, GP (2020),“Entrepreneurship for Economic
Development in India”, Published in Edited Book, Padma, Y. and Kumar, SV (eds.), Post Pandemic Economy-Challenges &
Solutions, Paramount Publishing House, Hyderabad, India, pp.1-9.
Sudhakar, G., 2020. Entrepreneurship for Economic Development in India. Sudhakar, GP (2020),“Entrepreneurship for Economic
Development in India”, Published in Edited Book, Padma, Y. and Kumar, SV (eds.), Post Pandemic Economy-Challenges &
Solutions, Paramount Publishing House, Hyderabad, India, pp.1-9.
Thukral, E. and Ratten, V., 2021. COVID-19: Entrepreneurial ecosystem approach to bounce back: Implications for the sport industry.
In Innovation and Entrepreneurship in Sport Management.Edward Elgar Publishing.

Thukral, E., 2021. COVID‐19: Small and medium enterprises challenges and responses with creativity, innovation, and
entrepreneurship. Strategic Change. 30(2). pp.153-158.
Velásquez, R.M.A. and Lara, J.V.M., 2021. Knowledge management in two universities before and during the COVID-19 effect in
Peru. Technology in Society. 64.p.101479.
Villaseca, D., Navío-Marco, J. and Gimeno, R., 2020. Money for female entrepreneurs does not grow on trees: start-ups’ financing
implications in times of COVID-19. Journal of Entrepreneurship in Emerging Economies.
Yang, M. and Han, C., 2021.Revealing industry challenge and business response to Covid-19: a text mining approach. International
Journal of Contemporary Hospitality Management.
Zighan, S., 2020. Challenges faced by necessity entrepreneurship, the case of Syrian refugees in Jordan. Journal of Enterprising
Communities: People and Places in the Global Economy.