Entrepreneurship Business Plan: Eat Goodness in the UK Market

This report details a business plan for 'Eat Goodness,' a self-proprietorship aiming to enter the UK food and retail market with a focus on organic and ready-to-eat products. It includes an industry analysis using Porter's Five Forces, examining the threat of new entrants, bargaining power of suppliers and buyers, availability of substitutes, and competitive rivalry. The plan outlines operational strategies, the management team structure, and a marketing plan utilizing STP analysis and the 4Ps of marketing to target health-conscious consumers. A financial plan and market research highlight the growing trends in the UK food sector, emphasizing ready-to-eat meals, allergen-free foods, and the importance of a digital presence. The report concludes by emphasizing the crucial elements of a successful business, including product development, service delivery, operations, management, and marketing strategies.

Assessment 2
Entrepreneurship

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK ..............................................................................................................................................3
Business Description/ market opportunity..................................................................................3
Industry analysis: .......................................................................................................................4
Operations and management team plan......................................................................................5
Marketing plan............................................................................................................................6
Financial plan..............................................................................................................................8
Market research...........................................................................................................................8
CONCLUSION ...............................................................................................................................8
REFERNCES:..................................................................................................................................9
Books and Journals:....................................................................................................................9

INTRODUCTION
The report aims to prepare a well presented business plan in order to enter into UK
market. Covid-19 pandemic has caused many trouble into the market which laid emphasize on
bringing innovation products and services (McKenzie, and Sansone, 2019). The customers and
market are demanding more than the ordinary products which is easy to deliver and yet trendy.
Therefore, this report is going to present the business case details in order to enter in UK food
and retail industry. The main focus of this report will be on industry analysis, market
competitiveness and innovation that will be relevant for the post Covid-19 market.
MAIN BODY
TASK
Business Description/ market opportunity
The business will be a wholly owned self proprietorship in the food and retail industry of
UK. The name of company is “eat goodness” the firm will be a retail store which will be
established in London, high street market to grab number of customers. The company will sell
highly organic products range which will create an innovative concept of ready to eat dishes and
flavours. The business will deal in retail sector of UK which has number of competitors,
customer and availability of substitutes. These industry factors may impact on the companies
growth and probability. Therefore, this business has an innovative to sell products through
scanning barcodes by going on company websites which will reflect products as per customer
needs and health requirements. The products will include a range of chips, waffles, soups and
organic powder with having all the natural and organic ingredients (McKeever, 2018). These
products will be highly proficient to boost immunity as well as give a unique taste of harmless
flavours. The customer will get their best products through clicking on website barcode which
will start a survey with 5 question about persons health and taste. As per the answers, the user
will get varieties of products to add in cart and get delivery within 30 minutes.
Product: “Eat goodness” deals in particular organic and natural product range which is
beneficial for curing many health diseases and gives a delicious taste to hunger. The products
will include organic waffles, chips, candies, bars, gluten free cookies and soups. All the products
are made for ready to eat deliveries. So, the consumers need not to worry for its preparation. As

they serve a ready made meal which is highly made with proteins, minerals and free from gluten
or allergen substances.
Mission: The Eat Goodness works for the health and welfare of the society to give
strength and energy by eating all healthy and natural snacks (Tokarski, Tokarski, and Wójcik,
2017). The purpose behind product range is to create a positive and healthy society to provide a
new experience to satisfy hunger needs. Also, to give advises and opinion at one click distance to
get and find the most suitable products suits on the current mood.
Vision: The company looks for the core development of society by serving goodness in
the world full of junk. This goodness will make the people live more and be young.
Industry analysis:
A retail and food industry has the most growing sector in the world. It provide all the
goods and services to satisfy the day to day need of customers. Therefore, the more there will be
demand for the industry products is rising the more it tends to results in competition and risks for
business.
Porter's five forces model:
It is an effective model to analyse the industry competition across the country. It gives
insight about the factors which may have high, low or moderate threat on the future of company.
Therefore, to establishes the company in UK food and retail industry, essential factors are
described below:
Threat of new entrance: This factor is important for the retail and food sector of UK.
The industry has easy way to enter into market and provide various opportunities. Threat the Eat
goodness may have high threat of this factor. Entrance of new players will increase the
competition in UK and eliminate the unique factors which company serve manually.
Bargaining power of suppliers: this factor focus on the number of industry supplier
present into the market, shortage of these suppliers will make their price high and exploited. The
retail and food industry of UK has large number of supplier but limited for the organic products.
Therefore, the Eat Goodness has moderate threat of this factor as they require unique and non-
ordinary ingredient to produce consumable goods (McKenzie, 2017). The suppliers may charge
high price for this purpose so the company needs to looks for building contracts and make
connection with other Suppliers from different countries.

Bargaining power of buyers: The UK retail and food industry has large number of
buyers due to having wide size and products. The consumer have high bargaining power in the
industry as it is estimated that, no customers will be happy to get similar products for a high pay.
The Eat goodness will have low threat of this factor as their products are extremely high quality
and unique from others which adds a great value in lifestyle for customer.
Availability of substitutes: This retail and food sector of UK has possibilities to have
high substitutes. due to much competition and consumer trends, substitutes are available at low
price range that would shift customers demand (Fauzi, 2021). The Eat Goodness will get
moderate impact as the UK market may have substitutes of organic products but their services
and prices are more superior from others.
Competitive rivalry: competition is at high pace ion retail and food industry of UK.
Competition is the biggest rival which affecting the growth of many business in the country. As
their industry grown In every sector and looks for each consumer trends which give rose to new
strategy and innovation frequently. Therefore, Eat goodness has low threat of competition as
Covid-19 has positive impact as people prefer to shift on organic food range.
Operations and management team plan
The business model describes the overall way of producing products and how the
company will attain revenue. Also, it will show how management team will effectively
contribute in the firm.
How business will run The Eat Goodness will open stores from 9am
to 8pm. The operations include producing
natural food packages at every day to give it s
afresh taste (Ekanem, 2017). At store,
customer could get freshly prepared food such
as waffles and soups. candies, bars and chips
will be served with attractive packaging.
How products will be produced The products will be handmade to avoid any
impure substances and give it a fresh taste. The
ingredients will be supplied through natural
sources to provide goodness. Packaging will be

done at factories. The products will be serve
through online websites through scanning
barcode and will give an amazing experience
of purchase.
Management team plan
Managers The business person and CEO are the mangers
to make policies, strategies of the company.
There will be HR, finance and production
managers to look at crucial activities of hiring
and selection, prepare budgets and finances
and control of each product operation to
maintain the quality and efficiency (Stubić,
2017). Each department will have 2 leaders to
guide other staff at store level. IT manager will
manage online promotion and customer
insights.
Qualification The managers and leaders has main
responsibility to manage employees welfare
and guide to staff for providing better
customer services. CEO and owners contribute
in investment, raising capital and preparing
plans and strategies.
Marketing plan
Marketing plan is much necessary in order to sell and position the company products
across number of customer (Johnson,and Garvin, , 2017). A perfect and coherent marketing
strategy will be beneficial to achieve customer engagement and give rise in sales and
profitability. The eat goodness needs to have the knowledge of potential customer which could
be determine through STP analysis.

STP analysis
Segmentation: The market segments depends upon the demographic, physiological
factors. Different people have different culture, age, size, taste and preferences which focus on
the companies product strategy. The Eat goodness will segment the customer as per their age.
The company serve different products for different sections such as kids, adults and above the
age group of 45.
Targeting: targeting makes the sales easy for business. It shows the most important class
customer which will contribute in sales (Matović, 2020). Eat goodness will target mainly the
health conscious individuals such as doctors, fitness trainers and middle and high class income
groups.
Positioning: positioning the brand necessary to look ahead for future growth, market
share and competencies. It shows how customer see the brand for their satisfaction. Therefore,
the Eat goodness will position through conducting health surveys, workshops and social media
campaigns to gain consumer interest.
4ps of marketing
Product: it is the major factor of marketing mix. Product is the main elements in which
all the profitability of company depends upon. Therefore, the product decision must be unique
and something which is not yet arrived into market. Eat goodness will serve high range of quality
organic products with its ready made twist. This will add a great convenient service to satisfy the
hunger and work for keeping good metabolism.
Price: it is the amount which is being spend by customer to fulfil their needs and wants.
Price needs to be remain competitive and under the budgets of targeted customer. Eat Goodness
has its minimum price range to provide experience of organic food to all levels of customers.
Place: place is where the business is selling its products and distribute to the final
consumers (Sagita, and Rahayu, 2019). It splays important role is getting sales as place must be
convenient to the consumer reach. The Eat goodness will serve products through both online and
offline places.
Promotion: It is the crucial element of marketing mix. Promotion is necessary and must
be effective to attract large customers and make them believe about the products of company.
Therefore, Eat goodness will promote its range of products through websites, social media
platforms and advertisement in order to raise much awareness among the customers.

Financial plan

Market research
The retail and food industry of the UK has rapid growth in the current market. As this
industry is most versatile and has a lot of products to satisfy day to day customer needs. In food
sector, there are most emerging trends are ready to eat meals, gluten and allergen free food,
healthy tides and food safety. These are the crucial factors that needs to be consider by food and
retail sector while attending customers (Katz, 2018). One of the major trend of this industry is
digital outlook. People are depended upon online purchase and convenient deliveries. Therefore,
digital presence is must to attract customer. Customer centric approach of supply chain is the
main trend of market, this shows how customer demands is valuable into market.

CONCLUSION
The report has concluded that business is the crucial activities for the success for
organisation. Business contains many activities which is necessary to sell, promote and
established product portfolio. Therefore, this report has provided a business plan which sets all
the details regarding product, services, operations, management and marketing.

REFERNCES:
Books and Journals:
McKenzie, D. and Sansone, D., 2019. Predicting entrepreneurial success is hard: Evidence from
a business plan competition in Nigeria. Journal of Development Economics, 141,
p.102369.
McKeever, M.P., 2018. How to write a business plan. Nolo.
Tokarski, A., Tokarski, M. and Wójcik, J., 2017. The possibility of using the business model
canvas in the establishment of an operator's business plan. Torun Business
Review, 16(4), pp.17-31.
McKenzie, D., 2017. Identifying and spurring high-growth entrepreneurship: Experimental
evidence from a business plan competition. American Economic Review, 107(8),
pp.2278-2307.
Fauzi, R.U.A., 2021. The Influence of Business Plan Competition and Loan Provision on
Nurturing the Spirit of Entrepreneurship Among Students. Advances in Economics,
Business and Management Research, 161, pp.188-192.
Ekanem, I., 2017. Writing a business plan: a practical guide. Routledge.
Stubić, J., 2017. Assesment of Investments by the Use of Software Application for Development
of the Business Plan in Agriculture. Економика-Часопис за економску теорију и
праксу и друштвена питања, (2), pp.1-15.
Johnson, J.E. and Garvin, W.S., 2017. Advanced practice nurses: Developing a business plan for
an independent ambulatory clinical practice. Nursing Economics, 35(3), p.126.
Matović, I.M., 2020, June. Evolution of the Business Plan in Contemporary Business.
In Proceedings of the 17th International RAIS Conference on Social Sciences and
Humanities (pp. 71-76). Scientia Moralitas Research Institute.
Katz, J.A., 2018. The business plan: reports of its death have been greatly exaggerated. In Annals
of Entrepreneurship Education and Pedagogy–2018. Edward Elgar Publishing.
Sagita, V.V. and Rahayu, W.P., 2019. Developing performance assessment-based authentic
assessment of business plan subject. Jurnal Pendidikan Ekonomi Dan Bisnis
(JPEB), 7(1), pp.31-46.