Comprehensive Business Plan: Recycle Hub Waste Management Project

This business plan outlines the strategy for Recycle Hub, a waste management business located in Westminster, London, focused on recycling old products into new ones. The plan includes an industry analysis using Porter's Five Forces, detailing the bargaining power of buyers and suppliers, the threat of substitutes and new entrants, and competitive rivalry. It also covers operations and management team planning, emphasizing a functional business structure and administrative management style with a human relationship theory approach. The marketing plan incorporates the 4Ps (Price, Product, Place, Promotion), highlighting affordable pricing, quality recycled products, strategic placement, and digital promotion. Furthermore, the plan includes market research with a PEST analysis, addressing political, economic, social, and technological factors. Financial planning is detailed, covering funding through bank loans and bonds. The business aims to conserve the environment, provide solutions to customers and the government, and operate ethically while adhering to legal policies.

Business
plan(Assessment 2)

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................4
Description of the business.........................................................................................................4
Industry analysis by applying Porter's Five Forces model..........................................................4
Operations and management team plan......................................................................................5
Marketing plan for the new business including the 4Ps of marketing and their explanation.....6
Market research for specific industry along with analysis of macro environment(PEST
analysis)......................................................................................................................................6
Financial planning for the new business entity...........................................................................7
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
A business plan is a detailed document which increases chances of development of a new
business with effectiveness. The business plan is also considered as key approach which helps
the entrepreneur to formulate precise and systematic planning for the future. In the recent times,
importance of formulating a business plan has been increased due to increasing competition
between companies. The analysis of marketplace related to major dimensions of business plan is
most crucial point to be considered by an entrepreneur. In this project example of Waste
management business which will recycle the old products and transform them into new ones.
The name of business will be Recycle Hub and will be located at Westminster, London. This
project will include description of the business along with industry analysis. The project will also
focus on operations and management while also taking into account marketing and financial
plan.

TASK
Description of the business
The new business will be named as Recycle Hub, it will be producing recycled products
by using the waste management. It is one of the major roles and responsibilities of new business
to conserve the environment by development of sustainable practices. New business will be also
providing key solutions to customers who are environment friendly. Recycle Hub will also
provide solutions to government, as it is concerned mainly with the sustainability. The business
will take be operating with a starting staff of 40 employees(Hopp, Greene, and Samuelsson,
2018). The products and services which are being provided by the business will also include
guarantee in order to increase customer satisfaction. The products and services of new business
will be also developed with quality in order to develop more focused approach in management of
relationship with customers. The business will copyright and patent its functions in order to
develop best practices related to intellectual considerations. Business will follow all major legal
policies and laws formulated by government of United Kingdom.
Industry analysis by applying Porter's Five Forces model
The recycle business based market is not large and vast in the industry of United
Kingdom. It is the main role of a business to apply Porter's five forces model in order to analyse
the current situation of recyclable industry(Finch, 2022). In the recent times, all major
companies at the marketplace focus on implementation of Porter's five forces model to develop
systematic goals. The application of Porter's five forces model in context of Recycle Hub is
mentioned below:
 Bargaining power of buyers- It is essential for Recycle Hub to develop effective
approach in analysing bargaining power of buyers. The main role of a business is to focus
on this technique to develop further operations. In the case of Recycle Hub. Bargaining
power of buyers in the case of new business will be low as recycled products are
available very less in the country.
 Bargaining power of suppliers- Bargaining power of suppliers is comparatively high in
the case of Recycle Hub. There are many suppliers of waste in London which impact on
functioning of business of Recycle Hub. In the recent times, it is significant for a business

entity to focus on bargaining power of suppliers in order to evaluate best and better
results.
 Threat of substitutes- The threat of substitutes at the marketplace is low in the case of
Recycle Hub. In the marketplace of United Kingdom there are very less recycled
products available which are impacting on its functioning(Hopp, and Greene, 2018). It is
a major role of business to focus on eliminating threat of substitutes to perform key
sustainability based practices.
 Threat of new entry- The threat of new entry for Recycle Hub is very high as most of the
companies are planning to enter the marketplace. It is very much essential for the
business to formulate key business based practices in order to analyse the role and
responsibilities of management.
 Competitive rivalry- Analysing the competitive rivalries which are performing key
operations at the marketplace is necessary for the new business. In order to analyse the
competitors new business can take support of analysis conducted by management.
Operations and management team plan
The operations and team management plan is essential to be developed by a business
entity in order to evaluate future perspectives. The Recycle hub will hire professional operations
management experts in order to deliver best business practices. The main role of a business is to
focus on increasing chances of business development by choosing best business management
approach(Ekanem, 2017). The business will be functioning on a legal structure which is
maintained by management in order to conduct ethical business. Operations management of
company is also choosing best business structure in order to compete at the marketplace. The
operations management of Recycle Hub will choose functional business structure in order to
maintain hierarchy. The business will focus on increasing chances of growth and development by
decision making through functional structure. Recycle Hub will select key business operations in
order to perform optimum utilisation of resources.
Management style which will be selected by Recycle Hub in order to manage employees
will be Administrative. The management theory which will be developed by new business
organisation will be human relationship theory. Application of human relationship theory will
help in maintaining harmony between employees. The key departments of company like human

resource management, marketing management and financial management will be linked together
in order to facilitate majority of operations of business.
Marketing plan for the new business including the 4Ps of marketing and their explanation
The marketing plan for new business will be helpful in increasing the chances of growth
and development in order to evaluate best results. The sales turnover and revenue of Recycle
Hub will also increased with the supportive role played by marketing plan. The marketing plan
of Recycle Hub is mentioned below:
 Price- It is very much essential for the business to select the best practices by selecting
prices for products. The business entity will select appropriate and affordable prices for
key products in order to seek attention of different customers. The price of products and
services should be developed and formulated by financial management and higher level
authorities of Recycle Hub to deliver best business practices.
 Product- The key products of a company are referred to output produced by it in order to
fulfil wants and needs of customers. The products will be provided by recycling the waste
in order to create customer satisfaction. Product of new business will be based on concept
of total quality management in order to develop key and effective practices.
 Place- Place is considered as geographical location which has been selected for selling
the products and services(Barrow, Barrow, and Brown, 2018). The Recycle Hub will
select best place for its products and services in order to develop best approach. The place
selected by Recycle Hub will be helpful in attract major customers.
 Promotion- The promotion of major products and services is most important for new
business. Main role of marketing management of Recycle Hub is to develop its
promotion through social media and digital technology to reach large number of
customers in an accurate manner. Marketing department of Recycle Hub will also
provide key advantage to business by increasing its competitive approach.
Market research for specific industry along with analysis of macro environment(PEST analysis)
The research of marketplace is most important for a business entity in order to conduct
successful business operations. It is the major role of a company to analyse the importance of
macro environment analysis for development of systematic approaches. The market research is

the main technique available to a business entity in order to analyse demand and needs of
customers. The market research will be conducted by Recycle Hub using traditional and digital
technology based methods to gain effective results. In order to increase competitive approach, it
is beneficial for the company to evaluate key perspectives which are important for growth and
development.
The PEST analysis is a major framework which helps the business entities to develop
systematic operations at the marketplace. The major external factors which are associated with
macro environment are mentioned below:
 Political factors- These are those factors which are based over policies formed by
government. It impacts “Recycle hub” in a way that if tax rate increases then its sales is
impacted neagtively.
 Economic factors- The economic factors are related to inflation, deflation and recession
rates which are prevailing in the economy. It is most important role of a business to select
best economic factors in order to develop systematic approach. The major operations of
Recycle Hub will be impacted by economic factors, so it is important for the business to
consider the same.
 Social factors- These are those factors which is based over culture taste and preferences
of customers existing within country(Almeida, and Santos, 2018). This helps “Recycle
hub” capture large market which makes products attain customer satisfaction.
 Technology factors- In the era of stiff competition between different companies, it is
essential to focus on implementation of IT. The information and technology includes
usage of advanced computer systems in order to perform systematic operations. The
Recycle Hub will focus on implementation of major technological factors by hiring IT
experts and professionals.
Financial planning for the new business entity
Financial planning is one of the most crucial consideration for a business entity in order
to develop key and systematic approach. This an important perspective which leads upon making
development of business and various activities related to it done in effective manner. The recycle
hub has is able to generated funds with the helps of various financial elements which are
discussed as follow:

Bank Loans: These are those financial assistance which is used in order to make sure that
business is processed more effectively. Through bank loans “recycle hub” is able to generate
large amount of capital for making its product operational within market.
Bonds: it is one of the most effective for of finance generating aid which is used in order to
generate large amount of money. “Recycle hub” uses this for making money generated by
keeping this important papers of the product as an security.
Budget
Particulars Amount
Equipment 160000
Advertising 40000
Promotional tools 10000
Media house 10000
Total 2, 20,000
CONCLUSION
From the above discussion it can be concluded that business plan is an important part
which helps in making business development possible on large scale. The plan is based upon
analysing various kinds of factors which impacts business internally and externally. It discuss
about financial assistance to be provided to business. In this report business plan has been
formed over new product.

REFERENCES
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