Entrepreneurship Project: Veggies on Fire Business Plan Report

This project report outlines a comprehensive business plan for the restaurant 'Veggies on Fire,' focusing on organic food and drone delivery. It includes an executive summary, introduction to entrepreneurship, and detailed business plan components such as location, market analysis using PESTEL and Porter's Five Forces, product/service description, unique selling points, competitor analysis, operational and risk management plans, sales and marketing strategies, financial projections, and management team details. The report emphasizes market trends, competitive advantages, and financial sustainability, aiming to guide the entrepreneur in successfully launching and managing the business. It offers insights into operational planning, risk assessment, and financial strategies, concluding with references to support the analysis.

Entrepreneurship
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Executive summary
This project report is based on new business plan and highlight various detailed information
which are necessary for entrepreneur for effectively running the business. Various opportunity
related to the plan is analysis which assist in sustainability and maximum profit will be
generated. This project will include various stages which define important information related to
the plan which is followed by the entrepreneur. It will include the Location for new venture,
market analysis, Unique selling point of the new business, operational planning, risk analysis ,
financial planning etc. Which assist in successfully running the new business in a competitive
manner.
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Table of Contents
Executive summary..........................................................................................................................2
Introduction......................................................................................................................................4
BUSINESS PLAN...........................................................................................................................4
Business details......................................................................................................................4
Location..................................................................................................................................4
Market analysis.......................................................................................................................5
Product/ Service description...................................................................................................7
USP and Competitors analysis...............................................................................................7
Operations plan.......................................................................................................................9
Risk and contingency plan......................................................................................................9
Sales and marketing strategy................................................................................................10
Finance and funding plans....................................................................................................11
Management team................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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Introduction
Main objective of this report is to better understand the concept of entrepreneurship. It is
consider as the creation or extraction of value. It was a person who set up a business with the aim
to make a profit. In other words it is related to the process of creating a new enterprise and
bearing any of its risk with the objective of making maximum profit (Bogoviz and et. al. 2018).
It is an act of seeking investment and production opportunity, developing and managing a
business venture, so as to undertake production function and inputs like land, labour, material
and capital, & introduce new technology. Business ventures are established with the
entrepreneurial vision which will define a competency of an individual who are willing to take
all risk & effectively work with the main objective of bringing new change to the society and
earn maximum profit from business operations. This report will showcase the business plan
which also define the various opportunity and threats which are faced by an entrepreneur. This
plan will include various details related to business location, USP and competitor’s analysis,
description of the product and service offer, risk analysis, financial plan, sales and marketing
strategy etc. which are adopted by the new business venture.
BUSINESS PLAN
Business details
The selected business plan which is included in this report is based on the opening of a
restaurant “Veggies on Fire”.
This restaurant was launch in Landon near the Victoria and Albert Museum of Landon. It
will offer various variety of organic dishes and restaurant will also provide online delivery
service through drone. It will assist them to easily reach to their customers at the time of
COVIDE-19 and by offering organic food they will fulfil the health consciousness need of their
customers and also provide tasty food. Main focus of the business is on providing organic food
as the raw material which is used for preparing the food is fully organic that help in providing
healthy food & good taste to their customers (García-Sánchez and et. al. 2018).
Location
451, Fulham Road, near the Victoria and Albert Museum of Landon, United Kingdom.
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Market analysis
For success of this new business it is very important to effectively analysis the business
environment & market trends, so that the entrepreneur will effectively meet the requirements of
their customers & chive the competitive advantage in market. There are various tools and
techniques are available which help entrepreneur in analysing various factors which affect the
business. In context of selected business various market analysis techniques which are used by
entrepreneur are discussed below:
PESTEL Analysis-
It refers to the marketing framework which help an organisation in analysing the various
external environmental factors which influence the growth of business. This technique will
include various important factors which are discussed below:
Political factor- It refers to the external factor which is related to the political party or
policies of governance. This factor has a greater impact on the restaurant. This factor will include
various policies such as tax reforms, health & safety guidelines etc. which impact the business.
In context of selected business, timely payment of taxes will reduce this factor impact (Gomez
and Helmsing, 2020).
Economical factor- This factor is related to the economic condition of a country such as
it will include the inflation rate, interest rate, and various other economic factors will influence
the operations of business. In context of selected business, it was analysis that the economic
condition of UK is good which help in achieving higher return on their investment.
Social factor- It refers to an external factor which is related to the belief and values of
the society and the market trends which influence the business. In context of selected business,
they will offer organic and healthy food which fulfil the health consciousness need of customers.
Which will assist company to create a good image of their restaurant.
Technological factor- This external factor is define the impact of change in technology
on the growth of business. In context of selected business, they will use Drone for delivering the
ordered food to their customers which is an innovative idea also and help in attracting more and
more customers to order online food (Guo, and et. al. 2019).
Environmental factor- This external factor will create a huge impact on the operations
of business. It will include carbon footprints set by government, pollution target and so on. In
context of selected business they will use drone for reducing the pollution which is generated
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from vehicle and reduce the traffic on road. It will assist in also fulfilling their CSR activity and
create a good brand image of restaurant.
Legal factor- It refers to an external factor which define the various legislations and rules
governed by the government. These law will influence the policies of business and also their
business operations. It will include various law related to health and safety, employment law,
customer protection law, advertisement law and so on. In context of selected buisness, they will
make their business policies as per these law but any change in these policies will require to
again formulate new policies for business which consume a lot of time and cost of business.
Porter Five Forces-
It refers to a technique which assist an organisation in effectively analysis the
competition. It will include five important factors which influence the business most. In context
of new business force of various factors which are included in this are discussed below:
Bargaining power of suppliers- The bargaining power of supplier is low because there
are numbers of suppliers who provide the same raw material and also business will produce
organic fruits and vegetables in their firm which reduce the force of this factor. This will help in
easily get the raw material in better cost (Halilem and et. al. 2017).
Bargaining power of consumer- It was analysis that the bargaining power of customers
is high which have a high force on business. This is because the business was newly established
and only have few customers. Each customers will very important for buisness which will
increase the force on buisness and make them to charge low price so that they will maintain their
customers.
Threats of substitution- Force of this factor is high as there are various other restaurants
which are also offer variety of food items because of which customers will easily sift to other
restaurant. It was analysis that because of the high force of substitution the completion for
selected buisness will increase.
Threats of new entrants- The force of this factor is moderate on buisness as there are
very few restriction on the entry of new entrants in the market. This is because this buisness will
not require much cost to establish (Mazzei, Ketchen, and Shook, 2017).
Competitive rivalry- It was analysis that the force of this factor is high as there are
various other restaurants are available which are offering the same food. But with the help of
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effective strategy and innovative ideas new buisness will achieve competitive advantage in
market.
Product/ Service description
The restaurant will offer full organic food to their customers. Various dishes which are
served by the restaurant are mention below:
Veggies on Fire
Menu
Soup
Twice-baked Nettle cheese soufflé
Broad Bean, Mint, Black Pepper Pate
Smoky Red Pepper Hummus
Beetroot, Orange and Brie Salad
Roasted Aubergine Salad, with organic
Kefir
Dressing
Rosemary & Garlic Roast Celeriac, Sweet
Potato Bolognese and Goats cheese
Nasi Goreng
Broccoli, Broad bean and Hazelnut
Cassoulet
Service- The restaurant will offer 24*7 online and offline ordering service. They will deliver
their product to customers with the help of drone which help them in successfully deliver the
product at the time of COVIDE-19 and provide them safe delivery service at their home. This
will help in attracting more and more customers towards restaurant and earn maximum profit and
revenue from the business venture (Mika, and et. al. 2017).
USP and Competitors analysis
Unique selling point- It refers to one special feature or benefit in the product which is
offered by the buisness to their customers which make their products and service unique from
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their competitors brands in the market. In context of new buisness their UPS is the organic and
fresh food which successfully meet the requirements of their health consciousness customers.
Other them this their Drone technology which they use for delivering online food is also UPS for
restaurant which help them to achieve competitive advantage in market. Their UPS will help
them to retain their customers for long period of time and earn their loyalty.
Competitors analysis- By effectively analysis the competitors or rivals of buisness in
market which will influence the operations of buisness they can able to make effective strategy
which help them to effectively face the competition and maintain a good position in market. It
will assist company in identifying the practices of their competitors and also help in set a
benchmark and analysis the growth of buisness by analysing the review of customers and by
effectively facing the competition they identify various growth opportunity, which assist in the
growth and development of company. In context of selected new buisness, they will effectively
analysis the competitors with the help of identifying various factors which are discussed below:
Identify who are your competitors- With the help of this factor buisness is able to
effectively analysis the actual competitors of their buisness which will influence the growth and
profitability of buisness.
Identifying the products and service which other competitors will offer- By
effectively analysing the variety of product offered by their competitors. Selected buisness is
able to identify the cost & pricing strategy of their competitors (Mura, 2019).
Identify competitors pricing strategy and perks which they will offer- If selected
buisness wants to achieve competitive advantage in market then it is very important to analysis
the pricing strategy of their competitors. As this will assist business in analysing the quality and
budget of their competitors.
Organize a research regarding competitive sale tactics & outcome- If selected
buisness wants to analysis the sales tactics of their competitors that they are require to analysis
the sales process and distribution channel of their competitors. Selected business will require to
conduct an proper research which assist in effectively positioning their product and service the
right market.
Observe how competitors will market their products- Most important requirement for
effectively facing the completion in the market is that selected business will require to analysis
the marketing strategies of their competitors.
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Operations plan
For long term success and growth of buisness plan it is important that entrepreneur will
effectively planned it’s all operations and activities of buisness. There are various operations
which are performed by entrepreneur for effectively running the restaurant are mention below:
Raw material- In context of selected restaurants all the raw material such as fruits and
vegetables are directly purchase from the farmers and also entrepreneur will produce organic
fruits and vegetables in their farm and does not use any kind of harmful fertilizers for it.
Resources- Entrepreneur will use operation management strategy so that all the resources
in their restaurant are fully utilized and provide good quality of goods to their customers. It will
help them in reducing the wastage of their resources and also assist in effectively use their
human resource.
Productivity capacity- It was analysis that if entrepreneur will effectively plan all the
requirements of their production, it will assist them in managing the quantity of their raw
material and reduce the wastage of resources. In context of selected restaurant by offering right
amount of food for their dish will assist them to effectively fulfil the demand of their customers.
Planning- In context of selected restaurant, if entrepreneur will statistically plan all
activities from its initial stage to last stage then they will able to effectively create an good brand
image in the industry. It will provide a clear direction to entrepreneur related to conducting
various operations of buisness and achieve objective of their business (Qian and Liu, 2018).
Monitoring & controlling- By continually monitoring and timely controlling the various
buisness operations, they are able to effectively track the real performance of their restaurant. It
will also assist in achieving better goodwill in the industry and run the buisness for long period
of time.
Risk and contingency plan
It was analysis that there are various factors which create problems for restaurants and
also influence the managerial function of buisness. Various risk factors for restaurant are
discussed below:
Risk factor Impact Measure to overcome
Choice of menu It will consider as a biggest risk
for business as it will create an
impact on attracting the
For overcome from this factor
business will provide a wide
variety of organic and healthy
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customers towards their products. foods with attractive presentation
which help them in attracting and
retaining their customers for long
period.
Pricing of products Another risk factor which
influence the growth of buisness
is the prices they charge for their
product. This factor will directly
influence the growth and
profitability of buisness
(Ramadani and et. al.2017).
This risk factor will be resolve by
effectively analysing the pricing
strategy of their competitors and
charge reasonable price from their
customers will help them in
attracting more and more
customers towards their
restaurants and earn maximum
profit or growth.
Sales and marketing strategy
For long term growth and success of buisness sales and marketing strategy will play an
essential role. If restaurant wants to achieve better growth in the market then they are require to
adopt an effective sales and marketing strategy. In context of selected restaurants, they will use
various sales & marketing strategy which use various principles of marketing.
Sales & marketing objective-
 To enhance the market share by 30% in the next 5 months from opening of restaurant.
 To enhance the sales of their products by 50% in the next 4 months by using efficient
marketing strategy.
Marketing mix-
Product- In context selected restaurant, they will offer a wide variety of organic food
items. Their main menu will offer, various food products such as Rosemary & Garlic Roast
Celeriac and many more. Their product will provide good health and taste to their customers and
efficiently meet their requirement.
Price- In context of selected buisness they will charge moderate price from their
customers. Company will provide their product in different price on the bases of medium, small
and large o that they will effectively meet the requirement of their customers.
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Place-In context of selected restaurant, they will provide both online and offline service
to their customers. The restaurant will located near Victoria and Albert Museum of Landon
which will attract more and more customers and also they will deliver their product through
drone directly to the customers.
Promotion- It will play an essential role in the growth and development of buisness as it
assist in promoting the brand image of their restaurant and provide information about their
existence to a wide range of customers. In context of selected restaurants, they will use various
promotional tools such as advertising their products through newspaper and also use social
media platform for attracting more and more customers (Servantie and Rispal, 2018).
STP-
This approach will assist the entrepreneur in effectively applying the strategic marketing
plan in the right place or for right customers.
Segmenting- It means divide the heterogeneous need of customers into small group of
homogeneous need. In context of selected buisness they will divide the market segment on the
bases of geographical and demographical. In context of selected buisness, they will target the
people of 18 to 70 age group people with high and middle level income.
Targeting- In context of selected restaurant, they will target the health conscious people
who will ready to buy healthy food at any cost.
Positioning- It means creating a good image of buisness in the mind of their customers.
In context of selected restaurant their organic food and drone delivery service will help in
positioning the brand into market.
Finance and funding plans
There are various financial resources which are used by entrepreneur in developing and
operating the buisness activity which are discussed below:
Segments Estimated cost
Human resource cost £150
Raw material cost £175
Operational cost £225
Maintenance cost £125
Transportation cost £125
Total £ 800
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For effectively running the total cost entrepreneur will require £ 800.
Source of funds- In context of selected restaurant, entrepreneur will used various sources
for establishing the
Self- investment- For establishing the restaurant in Landon savings of entrepreneur will
also include. This is consider as the best source of fund because it will not require to pay any
kind of interest to other.
Loan form bank- It was analysis that bank will also consider as an efficiency source of
fund. Entrepreneur will take money from the bank for a specific period of time at a fixed rate of
interest.
Management team
It was analysis that there are various types of functions which assist in effectively
monitoring by the entrepreneur which assist in successfully run the business. It will include
various function which are discussed below:
Leadership and Guidance- Effective leadership in buisness will help them in effectively
managing the various activities of buisness and provide guidance to employees which help them
in achieve the goal on time (Sinthupundaja, Kohda and Chiadamrong, 2020).
Management of personnel’s- In context of selected business, they will achieve better
performance and a positive scenario by effectively managing the all staff members. This will
also motivate the employees in proving various innovative ideas which improve the productivity
of buisness.
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CONCLUSION
From the above discussion on this report it was concluded that entrepreneurship is an
effective skill and ability of a person which assist in developing new buisness and earn
maximum profit and also contribute in the development of economy. In this report various
internal and external factors are analysing which will influence the performance of new buisness.
Other than this various sales and marketing strategies are included in this report which assist in
creating a better image of buisness. There are also various source of funds are available for
buisness such as personal savings, bank loan and so on. Which are used by an entrepreneur for
establishing their buisness.
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REFERENCES
Books & Journal
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theory and practice. International Journal of Trade and Global Markets. 11(3). pp.190-199.
García-Sánchez, E. and et. al. 2018. Analysis of the influence of the environment, stakeholder
integration capability, absorptive capacity, and technological skills on organizational
performance through corporate entrepreneurship. International Entrepreneurship and
Management Journal. 14(2). pp.345-377.
Gomez, G.M. and Helmsing, A.B., 2020. Social entrepreneurship: A convergence of NGOs and
the market economy?. In NGO Management (pp. 391-402). Routledge.
Guo, F., and et. al. 2019. What determines academic entrepreneurship success? A social identity
perspective. International Entrepreneurship and Management Journal. 15(3). pp.929-952.
Halilem, N., and et. al. 2017. “To Own, or not to Own?” A multilevel analysis of intellectual
property right policies' on academic entrepreneurship. Research Policy. 46(8). pp.1479-1489.
Mazzei, M.J., Ketchen, D.J. and Shook, C.L., 2017. Understanding strategic entrepreneurship: a
“theoretical toolbox” approach. International Entrepreneurship and Management Journal. 13(2).
pp.631-663.
Mika, J.P., and et. al. 2017. Perspectives on indigenous entrepreneurship, innovation and
enterprise. Journal of Management & Organization. 23(6). pp.767-773.
Mura, L., 2019. ENTREPRENEURSHIP INTERNATIONALIZATION–CASE OF SLOVAK
FAMILY BUSINESSES. Ad Alta: Journal of Interdisciplinary Research. 9(1).
Qian, H. and Liu, S., 2018. Cultural entrepreneurship in US cities. Journal of Urban
Affairs. 40(8). pp.1043-1065.
Ramadani, V., and et. al.2017. An introduction to entrepreneurship and management in an
Islamic context. In Entrepreneurship and management in an Islamic context (pp. 1-5). Springer,
Cham.
Servantie, V. and Rispal, M.H., 2018. Bricolage, effectuation, and causation shifts over time in
the context of social entrepreneurship. Entrepreneurship & Regional Development. 30(3-4).
pp.310-335.
Sinthupundaja, J., Kohda, Y. and Chiadamrong, N., 2020. Examining capabilities of social
entrepreneurship for shared value creation. Journal of Social Entrepreneurship. 11(1). pp.1-22.
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