Enterprise, Innovation and

Creativity Assignment
Part 2 – Detailed Business Plan
 Table of Contents

Brief Business Idea....................................................................................................................3

Vision Statement....................................................................................................................3

Mission Statement..................................................................................................................3

Business Structure..................................................................................................................4

Product or Service Concept........................................................................................................4

Market and Competitive Analysis..............................................................................................6

Industry Analysis...................................................................................................................6

Market Competitiveness.........................................................................................................7

Marketing and Promotional Plans..............................................................................................7

Target Market.........................................................................................................................8

Operational and Staffing Plans...................................................................................................9

Financial Plans 300..................................................................................................................10

Cash Flows (monthly for the 1st 12 months and annual thereafter)....................................10

Costs Pricing........................................................................................................................10

Break Even Analysis............................................................................................................10

Sustainability and Scalability of Plans – up to 3 years 200.....................................................10

Brief Business Idea

Basically the idea for business presented here is based on innovation and creativity. The idea

is to offer plant based food by launching a restaurant where only plant based food will be

served. It is analyzed that almost every other restaurants and food services in UK are offering

animal meet products for non-vegans and almost none of the efforts are made for the vegan

food items. However, UK has observed emergence in the trend of eating green and clean

which led to the idea of introducing such a business in the region. The flexitarian and

vegetarian trends of lifestyle are promoting plant-based foods business, considering that I am

planning to fulfil the need of this unique food preference by offering customized restaurant

specifically designed to serve the needs of vegans. However, in order to start and establish

the business perfectly in a beneficial manner, I need to prepare a comprehensive business

plan which include all the details related to the business idea such as the concepts related to

products and services, the industry and market analysis to determine competitive aspects of

the business, the plans for marketing and promotion along with the financial plan and

operational plan.

Vision Statement

The vision behind the idea of this vegetarian restaurant is to introduce a food service

specifically dedicated for vegetarians. In this regard, the vision statement of my business is;

To become the leading vegetarian restaurant in UK

Mission Statement

However, considering the vision of the business the core mission that need to be achieved via

this business plan is to introduce a food service and a vegetarian restaurant in the region

which can offer delicious food purely prepared with vegetables, fruits, beans, cereals, grains
and legumes to meet the desire of vegans for eating out. In this regard, the mission statement

of Vegan is;

To establish a vegetarian restaurant which can deliver variety of vegetarian meals at

affordable prices to people who love food but aimed to eat healthy.

Business Structure

The primary concern of this business idea is to introduce a properly established vegetarian

restaurant in the vicinity of London to deliver high quality plant based food to the people

willing to eat healthy but pushed to their homes due to lack of proper eateries in the region

offering vegan meals. The idea is to build a standard one stop vegetarian restaurant which can

serve varieties of meals specifically for the vegetarians. Initially only one vegetarian

restaurant will be structured in London while further developments will be based on the

growth and public acceptance of the business idea.

In addition to this, considering the tech-savvy generation I will also introduce a mobile

application for the food service. That app can be used to place

Product or Service Concept

The main idea for the business is to launch a restaurant in London which purely serve the

plant based food items. The business idea suggested the name “Vegan” for the restaurant.

Therefore, the product ranged offered by the restaurant is based on dishes which only have

vegetables, fruits, beans, cereals, grains and legumes. The patron to be followed for the

services starts with seating and order placing whereas the order is served by waiters while the

payment will be made after eating. The product range offered to the customers will include

food categorized for breakfast, lunch and dinner along with beverages, desserts, sauces etc.

This vegetarian restaurant will ensure a wide variety of well prepared food to achieve

business goals and the vision to become the leading vegetarian restaurant in UK.
Market and Competitive Analysis

The business will fall under the food service sector targeting restaurant industry of United

Kingdom which has multiple chains and franchises of restaurant and food services.

Considering the restaurant industry of UK it is analyzed that there is a steady growth in the

sector over last few years as the trend of eating out has emerged. Whereas the increment in

the per capita income and decline in the unemployment rate in UK triggers further progress in

the demand. Over the last few years a broadening of profit margins have observed whereas

average industry profit margin remains lean. While on the other hand the costs and quality are

concerned for the control while there is slight increment in the prices. Steady growth is

projected in the industry in the forth coming years whereas with the improvement of

economic condition the improvement in supply and demand is also predicted.

Industry Analysis

Currently in UK vegetarian restaurant line of business is not a vast industry and still

developing actively whereas the alteration of trends of life style towards being healthy and

consuming green has catalyzed this growth further. Research conducted in 2016 by the Vegan

Society declared that there are 540,000 vegans in Great Britain. BBC reported heavy stocking

by super markets for vegan options to deliver the food choices of consumers. Moreover,

celebrities such as Ellen DeGeneres, Miley Cyrus and Ariana Grande are further promoting

the trend. However, google search provided that questions related to vegan or veganism have

been excessively asked to google over last 10 years making it the top five most searched

question/topic. Vegan products are launched in UK whereas there are no such specifically

customized restaurants in the region serving the vegan meals purely. As per The Vegan

Society, total value of the plant based market in 2018 was £443m for UK while 1 in every 6

products which get launched in UK claimed to be purely or partially vegan. However, it is

predicted that by 2040 among the global population only 40% will be consuming meat. All
these details and statistics determine the potential of industry and prospect of development in

the sector which can be interpreted as suitable market condition for the new business idea.

Market Competitiveness

On the other hand if the considerations are focused on the competitiveness of the business, so

it is analyzed that there are numbers of studies supporting the prospective growth in industry.

Whereas in addition to this currently the demand for vegan products have increased but if the

market is assessed so there are no such big names in the market offering purely plant based

meals as a restaurant and therefore bringing a unique idea to the market is the key

competitive aspects of the business. Furthermore, it is also analyzed that technological

advancement have become essential element currently and therefore, when Vegan is

proposing to establish a mobile application for online ordering of these pure plant based

meals. Consumers can download the app online from the app store and log in with their name

so they can provided highly confidential and customized services at their door steps. Using

such an approach where environmental friendly business idea goes hand in hand with the

health and technology is mainly augment the competitiveness of the business.

Marketing and Promotional Plans

After explaining the plans and concepts related to the business it is important to discuss the

plan for the marketing and promotion. As it is provided that the market is not saturated and is

currently in the development so it is the most suitable condition for the business growth.

Launching the business in such an environment can be greatly beneficial. However, veganism

is trending in UK but there are no such food chains offering these type of meals. There are

multiple products which are available in different retail stores but not much has been done

over the concept of introducing a whole restaurant with vegan meals. Therefore, the idea is

not common as per my judgement and so need to be promoted rigorously. In this regard, the
most important tool to be used is social media. I will create pages over Facebook, Instagram,

Twitter and other common social media platform for promoting the restaurant. The app is

also a form of promotion whereas different discounts and vouchers will be used for

promoting the products and generating initial sales when the business get launched. There

will be a small launch party as well where some of the renowned celebrities and personalities

with full media coverage will be invited to endorse the business and meals offered.

Furthermore, digital media will be used in need for promoting the products using

advertisements.

Target Market

Basically the idea is supporting the vegans and is so for the vegans as well, that is why the

name of the restaurant is also suggested to be “Vegan”. However, the interesting fact about

the meals served at this restaurant inspired by vegetarian diets and meals is that they are not

only served to vegans. People willing to eat something different from their normal diet can

also visit the restaurant. It is not only for the ones on strict vegetarian diet but for the people

who are willing to eat green, healthy and clean as well. The people conscious for their health

yet fond of eating out can also visit the restaurant. In other words, anyone having vegetables

as their food preference can visit the restaurant and enjoy the delicious food.

While if the positioning of the business is focused then it is analyzed that the business is

specifically positioned as vegetarian restaurants to service the people of London, UK. But in

future considering the success of business I will also introduce other branches in the region in

other cities all over the UK. Till then the business is aimed to serve wide varieties of

vegetarian meals to vegetarians, households, event planners, sports persons, tourists and

anyone willing to eat vegan meal.

Operational and Staffing Plans

In order to run the business I need a work force which can help in serving the food and other

services. In this regard, the business also need operations and staffing plans. I am being the

owner of the business will hire people who are qualified, customer centric and loyal to the

business and their jobs. Experienced professionals will be preferred for prosperous business

in order to gain benefits for all the stake holders of the business including customers, owner

and workforce as well. The key positions need to be occupied initially include restaurant

manager, administration manager, sales and marketing manager, accountant, cashier, waiter

and waitress, drivers and deliverers, customer care representatives, receptionists, cleaners,

information technologist, cooks and chefs.

 The restaurant manager and administration manager will be responsible to manage all

the activities and operations in restaurant. They will be liable for all the other staff

members.

 The customer care representatives and receptionists will deal with the customers on

first hand; they will receive customers in restaurant and take orders on call

respectively.

 Sales and marketing manager will be responsible for dealing with all the stuff related

to promotion of the restaurant including managing accounts on social media,

maintaining public relations and publicizing the restaurant on digital media.

 Accountant will take care of all the accounts and financial aspects of the business

whereas cashier will assist the accountant and perform payment procedures for

services.

 Cleaners maintain the cleanliness in the restaurant, wash utensils, clean floor and

other furniture in the restaurant.

  Waiter and waitress as well as drivers and deliverers will be responsible to serve the

food to the customers within the restaurant and at their door steps respectively. There

will be a small team of deliverers and waiters who will garnish the food or pack them

in boxes for the service.

 Cooks and chefs will be responsible for preparing food, serving them in dishes as well

as innovating menu as well.

 Information technologist will deal with all the maintenance of all the devices in the

restaurant and keep advancing the services with latest technologies.

All the operations will be planned properly and the schedule will be altered as per the

demand. The managers will be responsible to deal with the day to day issues and then amend

the plans accordingly. The quality of food and hygiene will be the key concern for the

services. Moreover, the staff need to be highly courteous to all the customers and serve food

with pleasant behavior and in well-mannered way. Initially the restaurant manager will be

responsible for the quality clearance of all the services and products whereas later on as per

the requirement separate personnel will be hired for that purpose as well.

Financial Plans 300

Cash Flows (monthly for the 1st 12 months and annual thereafter)

The cash flows of the vegan for 3 years are shown under the below mentioned table:

Year 1 Cash Outflows (£) Cash Inflows (£)

2,5 1,3
1st Month 00 00
3,0 1,8
2nd Month 00 00
3,2 2,4
3rd Month 00 00
3,6 3,7
4th Month 00 50
4,1 3,5
5th Month 00 00
 3,8 3,4
6th Month 00 00
3,5 4,4
7th Month 00 00
3,4 5,0
8th Month 00 00
3,6 6,3
9th Month 00 00
3,8 7,4
10th Month 50 00
4,2 8,0
11th Month 50 00
4,2 9,5
12th Month 00 00
45,0 67,7
Year 2 00 50
50,0 75,0
Year 3 00 00

Total 138,000 199,500

The above table shows that the company at their start-up had to invest more and the return on

the investments were quite on a lower side. Though, gradually with the increase of the

awareness of their vegetarian food the Vegan was receiving the needed attention and return to

run the business forward. As observed by the table the returns were initially low hence after a

month or two it crossed the cash outflows but as anticipated it can be drawn back to lower

side due to multiple reasons. Whatsoever, it is projected that the company would gain the

required return not less than 9 to 10 months. The first year’s cash outflow stands at £43,000

and the cash inflow of the company for the same year is projected to be £56,750, which is

quite a good return for a company in the first year of their operations.

Costs Pricing

The cost of the vegan products and their selling prices are mentioned under the below table:-

Dishes Names Selling Cost Selling Price

Vegan Mac and Cheese £8.50 £10.50

Sugar Snap Pea and Carrot Soba
£5.00 £7.00
Noodles
Kale, Black Bean and Avocado Burrito
£7.50 £9.50
Bowl
Creamy (vegan!) Butternut Squash
£8.25 £10.25
Linguine with Fried Sage
Sweet Potato & Black Bean Veggie
£6.50 £8.50
Burgers

Vegetable Paella £4.00 £6.00

Spicy Thai Peanut Sauce over Roasted

£8.50 £10.50
Sweet Potatoes and Rice

Spaghetti Squash Burrito Bowls £7.00 £9.00

Spiced Vegan Lentil Soup (AKA the

£4.50 £6.50
Best!)
Spicy Sweet Potato and Green Rice
£7.00 £9.00
Burrito Bowls

West African Peanut Soup £4.00 £6.00

Pinto Posole £6.00 £8.00

Laura’s Burrito-Stuffed Sweet

£3.50 £5.50
Potatoes
Butternut Squash Chipotle Chili with
£8.00 £10.00
Avocado
Sweet Potato, Kale and Chickpea
£4.50 £6.50
Soup

Hummus Quesadillas £5.00 £7.00

Cilantro-Pepita Pesto with Squash

£6.75 £8.75
Ribbons and Fettuccine
Anything-Goes Kale Salad with Green
£6.00 £8.00
Tahini Dressing

Vegan Spaghetti alla Puttanesca £9.00 £11.00

Crunchy Thai Peanut & Quinoa Salad £6.50 £8.50

Crispy Falafel £5.00 £7.00

Spicy Black Bean Soup £4.50 £6.50

Thai Red Curry with Vegetables £8.75 £10.75

Roasted Butternut Squash Tacos £5.00 £7.00

 Peanut Slaw with Soba Noodles £6.50 £8.50

Build-Your-Own Buddha Bowl £6.00 £8.00

Thai Green Curry with Spring

£8.50 £10.50
Vegetables
Thai Mango Cabbage Wraps with
£9.00 £11.00
Crispy Tofu and Peanut Sauce

Homemade Vegetarian Chili £4.00 £6.00

Spinach and Artichoke Wonderpot £5.50 £7.50

Break Even Analysis

In financial analysis, breakeven is thought to be the point where the investments and returns

at 0 more or less investments could either be in positive or in negative. However, in this case

the break-even is suggested to be the point where the cash inflows of the company would be

more than the cash outflows due to sales of the Vegan. It is observed in the cash flow

statement that the company’s break-even point is supposed to be in the 9 th month. It is

anticipated that the company would be able to gain profit on their venture after the

completion of 9th month and from there the turning point for the company would arise in

which it would only enjoy profit on the venture.

Sustainability and Scalability of Plans – up to 3 years 200

Business is the name of ongoing concern. Relatable that a business will stay in operation for

the foreseeable future. Every business requires certain measures which enables the business

to sustain in their operations. It also requires various measurement scales upon which the

profit and sustainability of the organization is held. The above project of a Vegan restaurant

seems to be the future of the Vegan restaurants across UK. The idea and concept posed in the

business structure above shows the great effort in portraying the future prospects of vegan

dishes. Moreover the product and services concept established by the Vegan are above
expectations. The marketing strategy prepared and anticipated by the business would take it

to a whole new level. Furthermore, the financial modeling done on the business shows the

long run scalability and sustainability of the organization as the cost of the products are not

on higher side and the selling price of the dishes are cheap and reasonable.

The target market of the business are those 60% of the UK which are indulge in eating

healthy food, which is only provided by the nature i.e. Vegetarian or Vegan. Moreover the

sustainability of the business is also depended on the marketing and promotional plans of the

company that is making of an online app and also creating page on Facebook, Twitter and

Instagram which will promote the business on online platform and promote the meals and

menus of restaurant. Nevertheless, the sustainability and scalability of the restaurant is based

on the quality food provided. Ensuring the quality up to the mark would always result in

greater profit.

https://www.profitableventure.com/organic-vegetarian-restaurant-business-plan/