Business Plan: Springled Food Restaurant, Attleborough, UK

This report outlines a business plan for a vegan restaurant, "Springled Food Restaurant," to be established in Attleborough, UK. The plan capitalizes on the increasing demand for vegan food and the attractiveness of Attleborough as a tourist destination. It includes a comprehensive market analysis, competitor analysis, and gap analysis to identify opportunities and address potential challenges. The report details the restaurant's target audience, pricing strategies, and menu design, alongside marketing strategies and financial projections, including a cash flow statement. It also evaluates the viability and feasibility of the business idea, considering both primary and secondary market research, and provides recommendations for mitigating risks and achieving business growth. The plan emphasizes hospitality services and aims to differentiate the restaurant from competitors by focusing on quality and customer satisfaction.

INTRODUCTION
 Entrepreneurial opportunities can be defined as various situations in which an
entrepreneur can enhance its profits or raise efficiency level of business.
 This assignment includes brief evaluation of numerous sources of
entrepreneurial innovations and ideas.
 It also shows use of different rational business ideas and market gap.

Background information
 For setting up an entrepreneurial business, an idea to open a new restaurant on
a hill station Attleborough situated in England, has been identified
 This idea of opening the restaurant has been inspired from various factors
 These factors include conversion of huge number of population into vegan
which leads in increasing the demand of vegan restaurants in all over the
world.
Increase in demand in market
 Attleborough is a beautiful hill station of UK, which attracts the tourists
at the most. It increases the demand of vegan foods in Attleborough.

CONTINUE…
Recent trends
 Further, as per the resent trends, most of the Attleborough population
has turned their preference from non vegan to vegan foods.
 . It is also the biggest factor to inspire the idea of opening a vegan restaurant
idea over there, as it would result in attracting local customers as well.
Investment
 Opening a new restaurant in this location needs less amount of
investment and can provide maximum profit to entrepreneur.
 In this regard, being a start up and entrepreneur, it is always a better idea to
enter into a restaurant business.

Introduction to business idea, potential and target
customers
 Being an entrepreneur, there is an idea to enter into a restaurant
business.
 Restaurant will sale vegan food. Further, restaurant is going to be
open in a hill station of UK namely Attleborough with a name
Springled Food Restaurant.
 In recent times, vegan food is in more demand in all over the
world. As per the recent statics 80% of the total population of the
world and 60% of the Attleborough population, have changed

Competitor atnalysis
 Before starting any new business, entrepreneurial need to analyse the
strategies and business of competitors of the market.

CONT…
Basis The Mulberry Tree Springled Food restaurant
target audience The Mulberry Tree targets all the
vegetarian tourists.
It can target all the tourists by
including vegetarian and non
vegetarian vegan foods in the menu.
Who are the potential consumers? Visitors of Attleborough. Visitors along with the local
customers of Attleborough.
What is the Pricing strategies? It offers foods with the cheapest
price.
Springled Food restaurant can
provide some extra discount to its
customers along with the cheapest
price which could substitute the
customers of Mulberry towards it.
Design of Menu card Menu card has been designed to give
the message of eating healthy foods
to the customers
Menu of Springled Food restaurant
can be designed by using tradition of
Attleborough. It could catch the
attraction of the customers.

CONT…
key strategy Restaurant has fast serving facility (Goethals,
2018). Which helps it in providing satisfaction to
customers.
Restaurant will give a coupon to each customer. It
will lead in maintaining patience of customers and
also to give them a higher amount of satisfaction.
key Marketing strategy Mulberry tree advertise itself by placing
hoardings at different places.
It will also advertise itself by posting adds on
social media platform along with placing
hoardings everywhere. It will help in attracting
more number of customers towards it.
availability of Social media integration There is lack of social media integration by
Mulberry Tree restaurant.
Springled Food restaurant cam enhance the social
media integration to keep in touch with its
customers via messages, mails, etc. in would lead
in sustaining the customers for long time.
Ameance of restaurant It has a great interior including beautiful colour of
walls which gives message of healthiness to the
customers.
Springled Food restaurant will place some quotes
on the all the walls of restaurant which could
attract the attention of customers and make them
feel happy in the restaurant.
Annual sales Approx €200 million Its estimated annual sales is €90 millions.
Locations of competitors Station road Near white house

Failure and success in the industry
 In recent time, at Attleborough, people have started preferring vegan foods
which leads to continuously increasing the demand of vegan food is. It
increases the probability of success of the industry.
 At Attleborough, chances of success of the Springled Food Restaurants are
much higher, because, approx 60% of population at Attleborough have
changed their preference from non vegetarian to vegetarian foods.
 Cost of organic foods is quite higher in the Attleborough due to lack of
harvesting of organics. it increases the cost of preparing organic dish by the
restaurant. It may cause the reduction in profit by the Springled Food
restaurant.

Competitive analysis of setting up new business
 By analysing the business strategies and plans, it has been identified that,
restaurants of Attleborough fails to provide a quality of hospitality services to
the customers.
 It results in lack of satisfaction to their customers. Further, due to lack of
resources, operating costs of the restaurants are also quite high which reduces
the profit earning capacity of the food industry.
 In this regard, to avoid these problems in Springled Food restaurant,
entrepreneur will have major focus over providing hospitality services to the
customers.

Evaluation of Gap analysis to look at the close gaps
for present and future
 Gap analysis is the process of management in they can be analyse and
compare the current performance with the desired performance of the
business.
 It could help managers in bridging gap between the current status and set
performance of the company.

Conti...
Basis Current
position
Standards Gaps Overcome strategy
Location Near white
house
Customer
prefers to go
their nearby
restaurants.
Not each visitor
wants to visit
white house
Can open a new branch
near more popular place
of visitor.
Variety of
foods
Vegan foods Some people
also like dairy
food
products.
Menu of
restaurant do
not include
dairy foods.
Entrepreneur can add
some dishes including
dairy foods to provide
more satisfaction.
Cost of
dish to
restaurant
€20-40 per dish €15-35 per
dish
€30-50 per dish It can develop more
strategies for having better
control over cost.
Marketing
plans
Advertises itself
by posting adds
on social
media.
Advertisemen
t by using the
latest
technology.
Can't reach to
more
consumers.
It can develop better
advertising strategy by
inventing more funds for
this purpose.