UCBL6006 Innovation and Entrepreneurship Assignment (GC01991)

Table of Contents

1.0      Introduction.

2.0      Business Background.

3.0 Market Analysis.

4.0 Industry Analysis.

5.0 Operations Detail

6.0 SWOT Analysis.

7.0 Financial Requirements.

5.0 Conclusion.

References. 1

1.0  Introduction

The growth of small businesses is increased very rapidly all over the world including the UK (Green, 2019). This paper presents launching a new small business named “Ready Sandwich” and its overall discussions about the market analysis, risk analysis, customer analysis, business location and details, industries analysis, SWOT analysis that includes strength, weaknesses, opportunities and threats of the company and financial analysis.

2.0  Business Background

2.1 Business overview

The name of the proposed business is “Ready sandwich” and according to its name sandwich will its main products. Along with sandwiches some other types of fast food, snacks, dessert items dirks and water will be offered to the consumers. The company will take the most emphasis on better qualities and services. There will have two different food sections according to the vegetarian and non-vegetarian. To hold the marketplace and customer retention as well as reach the target profits the company will offer the price of the products as cheap as possible. “Ready Sandwich” will try to gain attention from all kinds of customers. Proper location, Sufficient invested money will be helpful for this organization to conduct its business successfully (Hoffman, 2017).

2.2 Aims and objectives

“Ready sandwich” has some particular aims and objectives in financial, customer, internal and learn and growth sites that the organization wants to gain up to December 2021.

Financial

1. Obtaining around £50,000 sales revenue by December 2021
2. Obtaining 19% by December 2021
3. Obtaining 13% net profit by December 2021

Customer

1. Gaining 12% market share by December 2021

Internal

1. Achieving 70% customers retention and contentment by December 2021

Learn and Growth

1. Developed products range by December 2021
2. Starting online services by December 2021

2.3 Mission and vision

Mission, vision and goals are three important parts of the business. Vision is related to the overview goals of the business, goal reveals the future improved condition of the business in future and mission helps the business to gain the target goals (Gibbson, 2019). The vision of the start-up business “Ready sandwich” is gaining adequate customer satisfaction and competitive advantages in the marketplace and knowing the business as repudiated ones.

3.0 Market Analysis

3.1 Customer analysis

The first and foremost thing in any type of business is to gain the appropriate customer retention. Before launching a new business the customer analysis is part and parcel in this field. Various kinds of customers are found they have different interests in several sectors like supermarket, retailing industries, food shops and restaurants (Wayne, 2019). The standard qualities of the foods are very demandable to the customers. “Ready Sandwich” will have the opportunity to fulfill the consumer’s demand and gain their satisfaction by providing better products and services. Customers are always concerned about the value of the money and also try to buy better products and services. Consumers always desire quick delivery services. So for gaining success in this field and enlarge the business “Ready Sandwich” will have awareness of this fact and provide their best quality to the customers that will be helpful to beat the others competitors organizations (Wayne, 2019).

3.2 Target market/market segmentation

“Ready Sandwich” will use multi-fragment approaches through offering different types of menus for drawing in several customer sections. A design for targeting techniques of launching “Ready Sandwich” is given below:

Figure: Targeting strategies for Ready Sandwich    Source: Vaughn (2017)

Market Segmentation consists of some distinctive matters such as geography, demography, psychographs and also the behavior of the customers (Vaughn, 2017).

     Table: Market segmentation for the proposed start-up business     Source: Vaughn (2017)

3.3 Market analysis

The food and restaurant business in the UK holds a strong position in the marketplace. There are about 86,000 restaurants are involves in this sector having more than 100,000 workforces and worth in excess of £38 billion. “Ready Sandwich” will be capable to see the way that businesses in this segment can acquire between 2020 and 2021 when it comes to gaining adequate knowledge and learning of how the organization is bound to develop. Though there is a recent ambiguity in all UK business as a result of the Brexit, it is still potential to review main forecasts for the restaurant sector over the next few years and observe the influence they could have (Kumar, 2019)………………..

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