Detailed Business Plan for a Street Food BBQ Van in London

This business plan details the strategy for a street food BBQ van, focusing on operations in London. It includes an executive summary, objectives, market analysis (PESTLE and SWOT), product descriptions, and competitive comparisons. The plan outlines the company's mission, values, and critical success factors. It covers the company's legal structure, location, and facilities. Furthermore, it details product offerings, technology used, intellectual property considerations, and unique selling points. The plan addresses target segments, value propositions, marketing programs, and sales strategies. It also includes human resource and financial plans, financing requirements, and exit strategies, along with references. The plan aims to provide high-quality foods at competitive prices, targeting profitability within the first year, and expansion to multiple food trucks. The plan highlights the importance of a strong management team and adapting to market trends, including the growing popularity of street food and changing consumer preferences. The plan emphasizes the significance of market research and strategic planning to ensure the success of the BBQ van in a competitive market. The plan also considers the legal aspects of starting a business, including licenses and intellectual property.

BUSINESS PLAN

Table of Contents
Executive Summary:........................................................................................................................1
1.1 Current Situation:.............................................................................................................1
1.2 Objectives:........................................................................................................................1
1.3 The market:.......................................................................................................................2
1.4 Product and services:........................................................................................................2
1.5 Management team:...........................................................................................................2
2. Business Idea:..............................................................................................................................2
2.1 Objectives:........................................................................................................................2
2.2 Mission:............................................................................................................................2
2.3 Values:..............................................................................................................................3
2.4 Critical success factors:....................................................................................................3
3. Company......................................................................................................................................3
3.1 Company legal structure and ownership:.........................................................................3
3.2 Current situation:..............................................................................................................3
3.3 Location and facilities:.....................................................................................................3
4. Product and services....................................................................................................................4
4.1 Product description:..........................................................................................................4
4.2 Technology:......................................................................................................................4
4.3 Intellectual property rights:..............................................................................................4
4.4 Know How:......................................................................................................................4
4.5 Competitive comparison:..................................................................................................4
4.6 The gap in market:............................................................................................................5
4.7 Value proposition:............................................................................................................5
4.8 Unique selling points:.......................................................................................................5
5. Market analysis............................................................................................................................5
5 Environmental analysis:......................................................................................................5
5.1 PESTLE analysis:.............................................................................................................5
5.2 SWOT analysis:................................................................................................................6
5.4 Target segments:...............................................................................................................6

7. Strategy Valuation.......................................................................................................................7
7.1 Value proposition.............................................................................................................7
7.2 Competitive Advantage:...................................................................................................7
7.3 Segmentation Targeting Positioning(STP).......................................................................8
7.4 Marketing Programs.........................................................................................................9
7.5 Sales Strategy...................................................................................................................9
7.6 Sales revenue plan............................................................................................................9
8. Human resource Plan.................................................................................................................10
8.1 Recruitment and development plan:...............................................................................10
8.2 Financial Plan:................................................................................................................10
9. Financing Requirement..............................................................................................................10
10. Financing Sources: ..................................................................................................................11
11. Exit plan ..................................................................................................................................12
REFERENCES..............................................................................................................................14
Appendix........................................................................................................................................15

Executive Summary:
The report is based on the business plan of the street food BBQ Van. There are various
things that are needed to consider while applying these things. The main idea behind the BBQ
Van is that kitchen in a van that are willing to sell diverse kinds of food products of various
continents. Under this plan, the cost of setting, licensing requirement, who will be the partners,
and how much stake they are going to take in the business, all are going to decide in a prior
manner.
1.1 Current Situation:
The above mentioned plan is made for the business idea of selling various foods which
are from diverse culture. Now, this kind of business is emerging at a large scale and most of the
individuals are thinking to have this kind of business due to its low cost operations and higher
break even margin. This will also make the business operations effective and efficient. The
general figure shows that the street food is growing at a vast rate and in the forthcoming 10
years, this will cover almost 40-60% market in this.
The food Trucks industry emerged the great market strength over the last five to six years and its
become the one of the most performing segment in the higher food service sector (Fisher, 2012).
The industry's unexpected growth is occurred due to change in the customer preferences. Instead
of sound industry-wide execution, few of the food trucks are now need to comply municipal
regulations, enhanced competition and least profits margins. Such industry would face diverse
challenges over the next five years, most probably regulatory issues, that limits the development
of the industry over the last five years.
1.2 Objectives:
The key objectives of street food BBQ Van would be:
 To provides high quality foods at the least costs.
 To have £6000 profits within the first year.
 To have two food trucks at the starting year.
1.3 The market:
In the recent time, this is observed that the street food market is getting expanded. Along with
this, the competitors are also rising, and now this covers 21-30% market of the overall food
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market segment. Which will also rise effectively in the near future and reach to 40-60% in the
next 10 years.
1.4 Product and services:
The street food BBQ Van operations would be to covers almost peak areas in the London city
and also makes diverse variety of foods in order to generate optimum sales and also makes their
business operations so smooth in order to provides diverse cultural food products so that they
could make their business operations effective (Barringer, 2012). However, the business owner
render food products at a very reasonable rates so that the optimum revenues can be generated in
a least time period. Their main focus is to deliver the quality foods products so that the sales can
enhance. There is a need to make their business operations effective. Their foods covers various
food products from different countries.
1.5 Management team:
A firm needs to make their business operations so effective if they would have sound
management team (Fisher, 2012.). The sustainability of the firm is depends on the management
team. Management team is the only one that regulates the business operations so effectively. The
close monitoring on the diverse resources will make the business to get the sustainability.
2. Business Idea:
2.1 Objectives:
The key objectives of street food BBQ Van would be:
 To provides high quality foods at the least costs.
 To have £6000 profits within the first year.
 To have two food trucks at the starting year.
2.2 Mission:
Street foods are the latest popular trends which works in favour of the firm. The main
targets needs to make business operations:
There are main tools that are used by the company which are going to implement within
the company in order to attain certain pre-set targets.
Company's mission statement is “to provides the best foods to Major areas in London city at a
least price”.
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2.3 Values:
The Firm aim is to serve the quality foods to their customers at a best price so that values can be
created effectively
2.4 Critical success factors:
This guarantee that the objectives are meet out effectively. These are:
 To ensure that the quality products satiate the needs of the consumers, via convening the
market research.
 To ensure that the product is made after having effective survey that are required to be
done via market research.
3. Company
3.1 Company legal structure and ownership:
The BBQ street food van is operated by sole owner in UK only. To run the business as
sole owner it is required to fulfil the following requirements: that individual is natural person and
citizen of country (Rummler and Brache, 2012). The sole owner of BBQ street food van has all
control over the activities of van and accountable for all finance of business which includes debts
, loans, loss etc. The sole owner is the only person receive the all profits of company and has
unlimited liability for loss and responsibility.
3.2 Current situation:
The owner of street BBQ van started the business in UK with two van. The main idea
behind the starting the van is to provide different variety of food products like Thai, Chinese,
Italian etc. at local streets of UK. To start the business they have to take license from government
and approval from different departments.
3.3 Location and facilities:
At present they start their business on two locations of London at peak tourist
destinations. They provide different style of food includes Thai, Chinese, Italian, etc.
Simultaneously, they also provide the sitting space on top of the van. To attract the customers
they also provide them Wi-Fi facilities and online placement of orders through websites and
provide the facilities of home delivery.
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4. Product and services
4.1 Product description:
There are different types of products are provided by street food van. They also provide
the sitting facilities to customers. The services and products provided by them includes: Italian,
Chinese, Thai, maxi can etc. They also provide the free Wi-Fi facilities to customers.
4.2 Technology:
Advance technology is used by the workers of street food BBQ van. They provide the
facility regrading online booking of food through their official websites and the facilities
regarding home delivery.
4.3 Intellectual property rights:
It is important for the street food BBQ van to take the trademark of their name so no body
is used their name. It is important for the company to take all the rights regarding safety of the
name and the processes which are used by them.
4.4 Know How:
It is duty of the owner of van to register the name of company and their logo by applying
to intellectual property officer in UK. The domain name of the website of company is need to be
registered and to take the copyright to ensure the protection against the unauthorised use of
website and their design.
4.5 Competitive comparison:
They are many street food van which have their operation in London and they are famous
as well and exist from many years. The BBQ van would face competitive challenges in
marketplace. The BBQ Van needs to make strategies in order to form the various strategies so
that the business can attain the pre-set objectives in the firm.
4.6 The gap in market:
The gap in the market is nil because of the high competition in market. So, it is tough for
the BBQ van to establish themselves in London. There is no chance in the future also of
reduction in competition. So, the BBQ van is required to work hard in future (Wilton, 2012).
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4.7 Value proposition:
Value proposition of the firm is that the company needs to make their business operations
effective and this would also makes their business operations.
4.8 Unique selling points:
There are many unique selling points which are helpful in increasing the sales of BBQ
van.
 There are many products are provided by them includes: Thai, Chinese, Italian etc.
 They also provide the sitting facilities to the customers
 They provide the online facility to book the products and the facility of home delivery.
 They provide the free Wi-Fi facilities to customers.
5. Market analysis
5 Environmental analysis:
5.1 PESTLE analysis:
This assist the firm to determines the external factors that affects the firm. Under this
case, firm's owner assess about how food industry affects Political, Economical, Social and
Technological factors.
PEST analysis assist to plan with the help of these factors. If any one is ignored, then in that
case, lacking of the strategic plan occurs.
 Political: Recent trends influence the food industry. Fast food are continuously changing
to the healthier diets on their menus because of the public health policies are forcing
street food supplier to have low sodium and sugar intake diet. The current policies for the
local buyers to be more health concise at the time of buying their products.
 Economic factors: The state of the nation and the unemployment rates influence the food
industry. The healthier foods are charged high prices as compared to the fast foods.
 Social factors: Fast foods are required to shift based on the what are the need of the
consumers wants.
 Technological factors: Innovation is important to make bundling, sustenance marks, and
the generation of nourishment. More up to date organizations might need in innovation
control contrasted with veteran nourishment based organizations. BBQ Van moved huge
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screens into their eateries to feature their menu. Furthermore, they demonstrate film of
new limited time beverages and nourishments, as a technique for advertising. They
additionally utilize their site to give hypersensitivity sees, calorie data, and
advancements. With innovation propelling, it enables nourishment organizations to
achieve buyers in new and less demanding techniques. We even have online staple goods
which convey new deliver to clients rapidly.
5.2 SWOT analysis:
Strengths: Firm's products are simplistic and mostly aimed by foodies in London. Firm also
offer the greater parts sizes than their competitors at a least price point.
Weaknesses: London winter months are highly cold that stimulates foot traffic. The street foods
in this time, faces highly down in the sales form the October to April (DaSilva and Trkman,
2014).
Opportunities: BBQ Van has the opportunities to seize two target markets.
 Athlete people are searching for high protein diet, high value meal.
 Foodie people are looking to find the best testing Mexican foods which is in the high
craze.
 Company has take the positions to absolutely take advantages of market segments. As,
the rivals are trying to retain the decent margin and also not able to serve high quality
products with a least price.
Threats: Mostly truck business has tremendously increasing over the last 5 years, and this
continuously increasing at a greater rate which is now entering the markets which enhance the
competition
5.4 Target segments:
After knowing the values, cultures, opinion, lifestyle of the people, there is a need to
make a business plan and then decides the markets where the firm is going to know the market
segment where the firm is required to make their strategies. For know all these, either firm needs
to higher certain marketing research firm to convene the research or conduct research at their
own way. With the help of research, company will know about the market completely. Like- age
of the residing people and particular age group who are willing to buy firm's products or
services.' After identifying the market, firm needs to assess the market segment and also know
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whether the truck concept would serve foods to the college going boys or girls, and if yes, the
where do you park the truck?, these are need to know by the researcher while conducting survey.
BBQ target market is one of the crucial elements for the food truck. The food truck is just
bringing out, as food truck's is the main step to form a sound marketing strategy. However, its
customer needs to identify their success if the firm approaches in the right direction.
7. Strategy Valuation
7.1 Value proposition
Once a street food BBQ Van is established only if they represent street food , and where
they will trade and what they sell, it becomes important to get the word out and advertise their
street food business because they cannot rely completely on passing trade to make their food van
a roaring success (Thomas and et. al., 2014).
7.2 Competitive Advantage:
Competitive advantage is achieved by using various tools such price differentiation and
product differentiation that, so that the firm can achieve various pre-set targets in order to make
certain charges. However, this is observed that the company needs to make certain strategic
plans so that the business can attain their pre-set objectives of the truck food business. There are
various ways which are elaborates hereunder in order to gain the competitive advantages.
 Low start-up costs.
 Less risk than opening up a restaurant store front.
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 The ability to be your own boss.
 The flexibility to work when and where you want.
 Less restaurant experience is required.
7.3 Segmentation Targeting Positioning(STP)
The seven P's of marketing
 Product: Products are the key items that BBQ Van supply for sale to the local market.
When improving a product there is a need to consider quality, design, features,
packaging, customer service and subsequent after-sales service.
 Place: Place is related to distribution, location and methods of getting BB Van products
to your customer. This includes the location of BB Van stops and any distributors that
sell your products directly to customers.
 Price: Price indicates the amount of money that customers must pay in order to purchase
BBQ Van products.
 Promotion: Promotion refers to the act of communicating the benefits and value of BB
Van products to the customers in the their market. It involves persuading general
consumers to become customers of BBQ Van business using methods such as
advertising (Haag, 2013).
 People: People relates to the philosophy of targeting their customers who attracts
towards the food and services they offered in order to get maximum customer
satisfaction which indirectly building image and reputation in the competitive market.
 Physical Evidence: The physical evidence appearance affect not only the impression
outsiders have of business but also includes staff members, location and appearance,
building maintenance.
Process: Process involves food processing transparent to their customers and includes method of
packaging and distribution of BB Van foods, use invented most efficient cooking equipment.
7.4 Marketing Programs
 Today's Specials: Let the customers know that they can easily find out the daily special
foods every day which attract large no. of customers.
 Menu Changes: An easy way to let their customers know that you have changed things
up and keep them in the loop (Wegelin and Jacobs, 2013).
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 Offers discounts: Reward their customers by providing a discount coupons and also
attracting customers to providing cashback to those who make payment online. For e.g.
Today only, this week, 48hours etc.
 Holiday happenings: Give their customers a heads up on your upcoming holiday special
and events.
 Loyalty Programs: Reward their customers for buying food on regular basis from them in
order to encourage their customers such as buy one get one free.
 Holiday Parties: Let the customers know that they can rent their catering services for their
holiday parties.
7.5 Sales Strategy
Strategies that would be made for increasing sales in the competitive market which helps
in enhancing and growth of the business which indirectly increase income or profit.
7.6 Sales revenue plan
 Create a solid, memorable concept: Perhaps the most important aspect of making more
money as a street food provide in BBQ Van is establishing a concept that is memorable.
Building a news coverage improves the word of mouth about your business, which has a
huge impact on the sales. If 1000 customers talk about your product and services, this can
potentially generate 500,000 conversations-- so make sure firm's customers are talking is
a solid strategy to help to make more money.
 Offer something no other restaurant is offering: BB Van should need to offer something
that no other restaurant offers at their prices which attract large no. of customers which
helps them to make more money and bring in more customers.
 Offer mobile payment option: BB Van need to provide options of making online payment
top their customers. It brings more customers which help their business to expand.
 Cater weddings, parties, and office events: Providing catering facilities in wedding,
parties, and events helps to increase their sales revenue and also helps in building the
growth of business (Jones, Penaluna, Matlay and Penaluna, 2013).
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