Business Plan for Ice Cream Bar in Kensington, London: MOD003314

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Introduction to business (MOD003314)
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Table of Contents
Introduction:....................................................................................................................................3
Business plan: Part 1........................................................................................................................4
1. Outline your new Business Venture:...........................................................................................4
1.1 Business Type:...........................................................................................................................4
1.2 Research:....................................................................................................................................4
Business Plan: Part 2.......................................................................................................................5
2.1 Apply McCarthy’s 4Ps and any other relevant models:............................................................5
2.2 Employees/ staff:.......................................................................................................................7
2.3 Customers/ clients:.....................................................................................................................8
Business Plan: Part 3 Future Plans..................................................................................................9
3.1 Should your business be successful, explain how the business could expand in the future.
Illustrate by giving examples, what strategies you would adopt to expand....................................9
Conclusion:....................................................................................................................................11
References:....................................................................................................................................12
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Introduction:
The assignment is based on the study of the business plan for the new venture which planned to
establish the ice cream bar in the Kensington, London. This report provides the learning of the
new venture which needs to analyse the external environmental requirement of the London city
so that successfully establish the business in the proper manner. The report also gives the
knowledge that business entrepreneur needs to make a connection with the various marketing
giant companies to promote the product. The employees are the main element of the business
which is mention in the report and who is the target customer which is explained in the proper
manner. In the end, the report provides the study of those strategies which give aid to expand the
business in the competitive market.
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Business plan: Part 1
1. Business Venture Outline:
The entrepreneur plans to establish the ice cream bar in the Kensington, London which provides
the various flavor ice creams to satisfy the requirements of the customers. The business also
provides the frozen yogurt because it is the very common low fat ice cream which is generally
having by the diet-conscious customers. Unique selling proposition (USP) is helpful for the
business plan to make the product and service differ from the other competitors and give the
reason to the target customers to choose their product.
1.1 Business Type:
The business type is single entrepreneurship company which is based on the ice cream selling
process in both the seasons but most in the summer. The business is established as the company
formation model which is listed under section 9 of the Companies Act 2006. After the
registration in the company formation, the company becomes limited and this is the reason the
entrepreneur chose this model so that the company follows all the legal procedure (Burns and
Dewhurst, 2016). Even this model is more beneficial than another model like a partnership
because all the profits occur by one company.
1.2 Research:
The ice cream business is successful and more beneficial in the summer season so the
entrepreneur needs to establish the business in the summer season and set the menu according to
the culture of the Kensington. Such as it is essential that Ricotta chocolate and black pepper are
the most famous ice cream flavor which sells out in the season so that it is necessary that it
should be included in the menu (Srnicek, 2017). Other than this, the frozen yogurt is equally
popular in the list of the ice cream which also mandatory involve in the menu.
The company needs to identify their competitors such as Oddono’s South Kensington, Four
winters, Romulo café London and much more which increase the competition through their
unique flavors in the ice cream. The demand for the new ice cream business is getting higher
when the company provides the choice to order the ice cream through the online platform.
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Business Plan: Part 2
2.1 Apply McCarthy’s 4Ps and any other relevant models:
(Figure 1: 4Ps Marketing mix)
(Source: By Author)
The marketing mix is the essential element which needs to identify in the business that is useful
to get the options and solution to promote the product in the competitive market and success the
service of the business (Haque, et. al., 2018). The business plan is getting more efficient after
learning from the 4Ps model of the marketing mix which is mention underneath:
 Price: The price of the ice creams should be set according to the lives of the London
peoples which must be affordable for the middle-class people that is possible only after applying
the pricing strategies which is mention underneath:
Premium pricing: This strategy gives the learning that the price of a particular product is a bit
higher than the other competitor’s offers to the customers. Such as frozen yogurt should be rated
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Marketingmix

a bit high from the market but is the necessity that ingredient and uniqueness must be available
in the product.
Penetration strategy: This strategy has the objectives to attract the target customer through the
lower price of the ice cream product which is more successful from the premium strategy. For
example, the business set the price of Ricotta chocolate is less from the other competitors which
attract the more customers to buy the less expensive ice cream and this is sometimes initial loss
of the income for the new business but beneficial at the same time (Bang, et. al., 2016).
Bundle pricing: This strategy is beneficial for the new business which explains that the various
products must be set at the lower price so that customers attract to purchase the number of the
product because of competitor offer those products in the higher amount. Such as the
entrepreneur must set the same flavor ice cream at the low price and offer something free like
cream biscuit which attracts the target customers.
 Product: The Company offers the various ice cream products and so many flavors to
attract the target customers which make the unique position in the competitive market (Fawi and
Ahmed, 2017). The company should decide to launches the products which are beneficial for the
initial stage of the business and popular in the people of the Kensington, London. Such as:
a) The gold covered ice cream which is covered from the 24k edible gold which is popular in the
luxurious living people.
b) Churro cones are the Mexican treat which transformed for the people of Kensington which is
stuffed with full of ice cream.
c)Paletas is the kind of ice cream which dipped in the chocolate and rolled around with the
peanuts which are generally loved by the London people.
d) The Froyo is the cool treat created by the frozen yogurt and high sugar element which is quite
popular in the Kensington city.
e) Dolce Gelato is the ice cream product which contended from the hot chocolate which is hot
and cold combination is loved by the Kensington market.
These are the already famous ice cream products which are frequently sold out in the market of
the Kensington which is also want to include by the entrepreneur so that their ice cream business
gets the instant popularity by the customers (Resnick, et. al., 2016). The entrepreneur plans to
add on the unique ingredient or some additional flavors so that target customers identify the
difference in the competitors and choose the product of this company.
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 Promotion: Promotion is another main element in the establishment of the business so
that promote the products in the market and attracts the target customers. So there are some
marketing strategies which mention underneath:
Branding: The entrepreneur needs to decide the suitable name for the ice cream bar, a particular
logo and a specific color to identify the brand in the competition. This is also essential because
branding is the way to focus on the attraction of the target customers so entrepreneur should hire
the website and logo designer in the company.
Knowing the business and target customers: The entrepreneur understand the requirements of
the business and the target customers who used to buy ice creams in the summer season (Akgun,
et. al., 2017). The target customers are generally kids and teenagers who loved to consume the
ice cream in the summer season so businessman should identify their age, living pattern and taste
in the ice cream to promote the product accordingly.
Using social media advertisement: The business entrepreneur should advertise the products and
business on the online platform such as Facebook, YouTube or other social media sites so that
customers choose the flavor and purchase the product through indicating on the site. Social
media is the trending source which generally used by the huge population of the world so it is the
main way to promote the business and resolve the queries of the customers.
Create the effective website: The Company hires the website designer or freelancer to design
the page in an effective manner so that describe the detail of the product on the site to resolve the
doubts of the particular product.
 Place: The business entrepreneur establishes the location of the business in that area
where the chances of the sale are high and which is the main attraction area of the ice cream bar.
For example, the business entrepreneur establishes the ice cream bar in front of school and
colleges so that students easily catch the ice cream bar and business get higher benefits. The
company makes the connection with the distribution channels so that deliver the online request
products in the set time period (Wei, 2016). The businessman should open the bar far from the
competitor so that the customer does not change the place on a frequent basis and this is also
affected the popularity and the attraction of the product. The company should supply the catalog
which describes the full address of the ice cream bar which is beneficial to provide the location
to the target customers.
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2.2 Employees/ staff:
The business needs to have the main person such as HR manager, Store/bar manager and Serving
staff who is explained through their job role in the below section:
HR manager: The HR manager is the person who recruits and identifies the best candidate for a
particular job profile. The HR manager also conducts the training session to the employees to
provide the requirements of the particular job profile and train to how to serve the ice creams in
the bar (McCracken, et. al., 2017). The HR manager also has the role to credit the salary in the
account of the employees.
Bar manager: The Bar manager is the person who handles the activities of the ice cream bars
and controls the work segregation in the bar. This employee has the right to fire the employee
who behaves badly with the customers or harm the popularity of the bar.
Serving staff: The serving staffs of the ice cream have the role to serve the ice creams and
welcome the customers who visit the bar. They need to be well dressed and well-mannered so
that customers feel satisfied in the ice cream bar.
The Zero-hour contract is based on the specific contract such as worker do not accept any kind
of work offered during the job and employer have no right to provide the minimum working hour
to the employee. This has the advantage to the business that employee is working with the
loyalty and do not cheat in the duration of the peak season but the disadvantage is also
mentioned in the contract that the employees freely work according to the business law
(Ravalier, et. al., 2019). It means the employer does not set working time according to their
requirements.
2.3 Customers/ clients:
The target customers market is the children and teenagers who used to go to schools and
colleges. The group of potential customers ranked in the age of 4 to 25 year old who generally
consume the ice cream on a frequent basis. The ice cream is the product which is loved by the
older and younger customers but this is generally purchased by the children.
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Business Plan: Part 3 Future Plans
3.1 Should your business be successful, explain how the business could expand in the
future. Illustrate by giving examples, what strategies you would adopt to expand.
The business is successful in the market is analysed by the help of the skills of the employees
which need to be available that is mention underneath:
 Intellectual skills: These skills invent the abilities in the employee which is helpful to
success the business in an effective way such as problem-solving, thinking ability, creativity and
formal operations skills.
 Practical skills: This skill in the employees invent the good habit to expand the business
with the proper manner such as follow the principle, sequence in the task and process the
communication in the one direction (Kalfa and Taksa, 2015).
 Affective skills: This skill reflects the knowledge, growth in the emotions and physical
skills which is helpful to enhance the productivity in the employees.
 Transferrable skills: These skills improvise the communication, written, verbal skills in
the employees and also build the teamwork quality to get a better outcome.
There is various business strategy need to be implemented in the business plan so that
successfully expand the business in the proper manner. The 4ps marketing strategy is helpful to
reach the business plan at a high level to attain the objectives of the business which is mention
underneath:
 Product: The entrepreneur needs to create the verity products in the ice cream so that
attracts the customers and provides the best offers such as in the summer times, the company
provides the free ice cream candy with the family packs.
 Price: The price of the product set according to the penetration strategy so that lower the
price attracts the more customers which is helpful to expand the business in the manner (Nuseir
and Madanat, 2015).
 Promotion: The promotional activities are done on social media so that give attention to
the international customers which expand the business across the border.
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 Place: The location of the ice cream bar is established in the highly populated area so that
the company gets the huge opportunity to spend the business in various ways.
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Conclusion:
It concluded from the above report that the main reason to choose this business is people
attraction towards the ice cream and this company needs the connection with the online selling
company so that attracts more customers and home delivery of ice cream available for the
customers. The report provided the study that this is essential to analyse the competitors so that
improvise the quality of the service to survive in the market.
The report provided the study of the target customers who loved to have the ice creams in the
summer season so that spread the business in the season. The report also provides the learning of
4Ps of marketing mix such as promotion, place, products, and the price is helpful to marketing
the business in the competitive market. Market share, diversification, buying a franchise and
acquisition and much more are the strategies which help to expand the business.
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References:
 Akgun, A.E., Keskin, H., Ayar, H. and Etlioglu, T., 2017. Why Companies Go Positive
Marketing Innovations: A New Theoretical Prototype For 4ps Of Innovation. Journal of
Business Economics and Finance, 6(2), pp.70-77.
 Bang, V.V., Joshi, S.L. and Singh, M.C., 2016. Marketing strategy in emerging markets:
a conceptual framework. Journal of Strategic Marketing, 24(2), pp.104-117.
 Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
 Fawi, N.M. and Ahmed, H.M., 2017. Creating Sustainable Food Markets (A Case Study
of Urban Consumers' Camel Milk Consumption in Khartoum–Sudan). Journal of Veterinary
Medicine and Animal Production, 7(1).
 Haque, M.S.S., Bappy, T.A. and Arifuzzaman, M., 2018. The Impact of Brand
Awareness on Customer Loyalty towards Igloo Ice Cream: A Study on Dhaka University
Students. International Journal of Science and Business, 2(1), pp.1-21.
 Kalfa, S. and Taksa, L., 2015. Cultural capital in business higher education: reconsidering
the graduate attributes movement and the focus on employability. Studies in Higher
Education, 40(4), pp.580-595.
 McCracken, M., O'Kane, P., Brown, T.C. and McCrory, M., 2017. Human resource
business partner lifecycle model: exploring how the relationship between HRBPs and their line
manager partners evolves. Human Resource Management Journal, 27(1), pp.58-74.
 Nuseir, M.T. and Madanat, H., 2015. 4Ps: A strategy to secure customers' loyalty via
customer satisfaction. International Journal of Marketing Studies, 7(4), p.78.
 Ravalier, J., Morton, R., Russell, L. and Rei Fidalgo, A., 2019. Zero‐hour contracts and
stress in UK domiciliary care workers. Health & social care in the community, 27(2), pp.348-
355.
 Resnick, S.M., Cheng, R., Simpson, M. and Lourenço, F., 2016. Marketing in SMEs: a
“4Ps” self-branding model. International Journal of Entrepreneurial Behavior &
Research, 22(1), pp.155-174.
 Srnicek, N., 2017. The challenges of platform capitalism: Understanding the logic of a
new business model. Juncture, 23(4), pp.254-257.
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