New Venture Proposal: A 24/7 Mobile Food Truck Business in London

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New venture proposal
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Original business concept
Introduction
It has been assessed that almost 50% of the London residents are busy with their jobs, studies,
etc. They do not have the time to cook and they eat out. London is being observing high demands
of fast food services that are easily available to them. Current venture proposal is for opening a
small mobile catering business that would serve food using food truck and will deliver food
24x7. This would help people to consume food during the emergency (Burns, 2016). The food
truck would serve hot dogs, Mexican style, Ice cream, coffee, burgers, chicken, etc. The truck
would be known with the name “The Little cafe”. The business idea is being taken because it
requires less capital and lower risk of operations.
Key partners
The key partners of the cafe include the customers, to whom food would be served, government
from permission would be granted, suppliers from whom raw material would be supplied and
funds would be raised on personal savings.
Value propositions
The mobile application would be available to the customers to order the food and would receive
the food wherever they want. It offers more flexibility in the menu and can park the truck at
famous crowded locations. Also customers can make the payments online. Food would be tasty,
healthy and availability would be for 24x7. Products would be sold at high quality and promote
good values.
Key activities
Mobile application would have the tracking system that would notify customers to observe that
where their food has been reached (Hong and Fauvel, 2013). The main priority would be to place
truck at crowded place such as shopping malls, retail outlets, etc.
Customer relationship
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Mobile catering would help increase the satisfaction of people by receiving food at their place.
Relationships with the customers can be attained by reasonable pricing, high quality of foods,
offering festive discounts and coupons (Kumar and Reinartz, 2018). In case of delay in the
delivery, money would be refunded back to the customers or poor feedback would lead to offer
them a free dish of their choice.
Customer segments
Current target market of such venture would be youngsters to bring their friends, relatives and
family to have the innovative environment. Also the food truck would mainly target the crowded
place and help in driving customer’s satisfaction.
Key resources
It require a innovative food truck, finances, two servants, a manager, IT professional, one chef,
3-4 delivery executives, infrastructure in form of tables, chairs, cooking equipments, web server,
mobile application database, web server, etc. This would be effective for setting up the sustained
business in London.
Channels
Mobile application is one of the effective forms to have interaction with customers;
advertisements would be based through social media, suppliers would be the wholesalers that
supply fast food raw material. Currently, the business will operate on small scale and in case of
further response the business would expand in near future.
Cost structure
Elements Cost (million $)
Mobile application designing 3.0
Website Designing 3.5
Team salaries 2.0
Infrastructure 5.0
Food truck 9.0
Marketing 3.0
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Revenue streams
Customers would pay effective amount against the consumption of products and services, social
media and internet for increasing sales and revenues and number of installation of mobile
application would generate revenues.
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References
Books and Journals
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Hong, Y.C. and Fauvel, C., 2013. Criticisms, variations and experiences with business model
canvas.
Kumar, V. and Reinartz, W., 2018. Customer relationship management: Concept, strategy, and
tools. Springer.
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