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1、Business Venture Plan Report：Golden Time Breakfast Table of Contents1. Introduction12. Viability of the opportunity13. Environment analysis24. Business model45. Resources needs66. Strategy used for acquiring the resources77. Needs and issues of leadership and team management88. How the new venture w
2、ill be financed and launched99. Final comment of the project1010. References1111. Appendices12 1. IntroductionWith the rapid social development, urban people are under increasingly larger pressure. All social groups especially university students and office workers are busy all day. Many of them do
3、not pay enough attention to breakfast, and form inappropriate breakfast habits and diets (Hutt, 2012). Through direct observation and secondary data analysis, the reporter finds that such phenomenon is very prominent in big cities like London, and can lead to severe negative influence to peoples hea
4、lth condition in the long run. Therefore, improving breakfast structure is of great significance to increase peoples health level. This business venture plan of Golden Time Breakfast just captures this target market, aims at using nutrient, and fashionable product positioning, convenient and conside
5、rate service concept, combining advanced e-commerce platform to conduct multi-channel breakfast sales in the forms of flagship store, chain store, mobile shop and online meal booking. Meanwhile, with the application of efficient promotion ways such as mobile social media and word-of-mouth, the brand
6、 of Golden Time will be famous in a short time. Main characters of this brand are developing and promoting balanced breakfast, providing diverse and scientific set breakfast series, so as to provide the earliest guarantee of a day to university students and office workers. 2. Viability of the opport
7、unityScientific research reveals that, quality of breakfast determines peoples daily spiritual condition, so breakfast is the priority among all meals of a day (Defeyter et al, 2010; Holmes et al, 2012). In addition, with the modernization of peoples thinking and life, less people are willing to pre
8、pare breakfast by themselves. Especially university students and young office workers, they are usually very busy in the morning and feel bothered to make breakfast. So they choose to have breakfast in some nearby breakfast bars or buy take-away food, many of them even do not have the habit of eatin
9、g breakfast. Due to all kinds of reasons, they may fail to buy what they want to eat or eat unhealthy food. The difficulty of enjoying a wonderful breakfast creates a huge market. If a company can prepare breakfast according to customers taste and nutritional requirement, and deliver fresh meals to
10、them in time, customers will have no reason to reject. Therefore, this business opportunity has great viability. 3. Environment analysisNowadays, most people in the UK have realized the importance of balanced nutrition to body health. Most importantly, it is advocated by nutritionists that added fru
11、its in breakfast can supplement all kinds of necessary vitamins (Holmes et al, 2012). Since 2007, British government has called for replacing junk food with nutrient and healthy food, speeding up food development, improving diet structure, so as to enhance peoples health (Defeyter et al, 2010). Gove
12、rnment support provides a vital prerequisite for the progress of breakfast market in London. Commodity price in London has been long at a high level, making consumers form relatively strong price supporting capability and making new and fashionable products have more market opportunities (Beaver & P
13、rince, 2004). In London, consumers with different consumption power generally have stable consumer attitude and have clear understanding of their consumption ability. Therefore products of all classes can stably occupy partial market and own stable consumer group. In recent years, pursuing better li
14、fe quality becomes a universal demand of consumers in London, thus drives the rapid growth of breakfast retail (Hutt, 2012). What Golden Time Breakfast faces is just a constantly expanding market. For university students and office workers, the fast life pace, lacking of new choices of breakfast var
15、iety, unguaranteed nutrition balance trouble them a lot. As a result, nutrient, fashionable, convenient and quality breakfast conform to their demand. The new food consumption trend of pursuing health, fashion and convenience just provide the company a great market opportunity. According to statisti
16、cs, until the end of 2013, total population of London has achieved over 7.2 million (World Population Review, 2014). Employed people of white collar class was around 2.4 billion, among whom, 15% to 20% people earned the annual income of over 5,0000 (World Population Review, 2014). University student
17、s also form a large consumer group in London, University of London alone has over 18,000 students (World Population Review, 2014). Through the investigation on the two groups, it can be found that they were generally dissatisfied with current breakfast market. In addition, 85% of responders accepted
18、 nutrient breakfast based on coarse cereals, vegetables and fruits. In terms of competitors of the company, current there are a variety of breakfast suppliers in London market, however they cannot form very strong competition. For example, fast food restaurants usually provide food with high quantit
19、y of heat but low nutrition, such as hamburgers, sandwiches, hash browns, fruit pies, some of them even contain cancerogenic substance. Some supermarkets and cafes offer breakfast meals with low heat and low nutrition, such as cookies and breads, however vitamin supply is far from enough. Food provi
20、ded by many private English breakfast bars are usually delicious, but the price is expensive and customers usually have to waiting for a long time. At the same time, proportion of the combination of fruits, vegetables and coarse grains is very small among the breakfast variety, thus nutrition supply
21、 is sufficient. Moreover, due to market control, bad profit, outdated food variety and management, mobile breakfast carts are very rare in London breakfast market (Nicklas et al, 2004). Based on above analysis, breakfast market in London is in urgent need of a fresh team with quality meals and servi
22、ces, so as to inject vitality to London breakfast market. In existing breakfast market, Golden Time Breakfast has numerous potential. Enter the market with a brand new, nutrient and convenient breakfast concept can also help the company to seize larger market share. 4. Business modelThe name of the
23、company is Golden Time Breakfast Co. Ltd. Mission of the company is to provide fashionable and nutrient breakfast to university students and office workers wholeheartedly. Golden Time Breakfast aims at closely combining modern and traditional service modes, making full use of the advantages of moder
24、n e-commerce platform to carry out breakfast delivery business. On the basis of modern and traditional service concept, the company will use the mobile internet platform as the main communication media to promote nutrient and fashionable breakfast matched by grains, fresh fruits and vegetables. Besi
25、des, the company will launch an exquisite and user-friendly mobile APP for customers to register as members, and thus collect customer information, so as to provide fast, convenient and considerate service to customers. In order to ensure the increasing awareness of the brand, first of all, product
26、quality needs to be guaranteed. Secondly, service staffs service quality should be ensured. They should have a friendly attitude and offer considerate service. Besides, online ordering system should be well designed, so as to bring much convenience to consumers and maintain good online creditworthin
27、ess (Kotler & Armstrong, 2010). The company will gradually establish the brand in consumers hearts, and finally makes those middle and upper consumers regard Golden Time Breakfast as fashion orientation, and make the brand have certain influence in London breakfast market even out of London. The com
28、pany will make a set of flexible and effective operational mechanism and management system (Kotler & Armstrong, 2010). The company will specially hire authoritative nutritionists to research and develop breakfast products. In addition, the company will also create unique and advanced corporate cultu
29、re, so as to make company management more scientific and efficient, and promote stable development of business. Due to the limited resources and high rent fee, the company will not open physical breakfast bars at the first three years, but focus on online ordering and delivery business, as well as i
30、mproving brand image and reputation. Then the company will launch physical breakfast bars around universities and prosperous business zones. According market research, in normal times, consumer groups of the company can be divided into university students on campus and office workers in companies. T
31、he company will specially promote products and services to them, so as to attract these target consumers as many as possible. During holidays and vacations, consumer group of Golden Time Breakfast can be expanded to the entire public with certain consumption power, so as to let more people enjoy a r
32、elaxed time. As for the material supply plan, the company will exquisitely choose some food suppliers and customize all kinds of meals. Secondly, the company will invest on some vans and electrombiles as breakfast delivery vehicles. Thirdly, the company will also order environmental-friendly dishwar
33、e and package from specific manufacturers. As for promotion strategy, except for using mobile social media as mentioned above, the company will print poster series and attach them in communities, bus stations, universities after getting approval. Print leaflets will also be sent out to passengers fr
34、om all walks of life at places with a large flow of people. Free hot-line consulting service will be provided, meanwhile, customers can also log onto the official website of Golden Time Breakfast to know more about products and services. When long vacations come, such as Christmas vacation and winte
35、r vacation, a series of sales promotion campaigns will be designed and held. Mobile service stations will be launched for professional marketing staff to promote services to people. The company will enter universities to promote to students and faculties. Part-time student marketers will be employed
36、, so as to further increase brand image among students. Consumers can order their breakfast through the official website and mobile phone APP, delivery staff will be contacted instantly and provide enthusiastic door-to-door service. At the initial stage, there will be much uncertainty, so the compan
37、y will adopt the pricing strategy which is lower than competitors and the strategy of online membership system, so as to rapidly obtain advantage on product price (Kotler & Armstrong, 2010). Meanwhile, the company will pay high attention to maintain even increase breakfast and service quality, there
38、fore the company can quickly open market, and gain more profits and avoid risks of competition. With the prominence sales growth, the company will realize diversification of products and services, meanwhile keep the low price strategy, so as to further expand market share. When market supply and dem
39、and tends to be balanced, product life cycle will enter the mature period (Beaver & Prince, 2004). Till then, the company will have expanded to a large scale and occupied certain market share. Depending on the cost advantage formed by scale economy, the company will implement low cost and high quali
40、ty strategy, so as to effectively prevent new entrants and differ from existing competitors, thus will further consolidate market position and realize sustainable development. 5. Resources needs Gaining a practical and promising business plan is the first step of the entrepreneurial activity. Theref
41、ore, for entrepreneurs, a business plan is an important resource. Secondly, establishing a company and launching start-up programs need certain funds. Thirdly, whether entrepreneurs can manage core technology or fundamental technology, and whether they have the ownership of technology determine the
42、cost of starting a business, and whether the new company can gain success in market. Except for strong technological support, an excellent entrepreneur team is also needed (Kotler & Armstrong, 2010). In todays information age, information like policy and market situation are vital evidence for entre
43、preneurs to make correct decisions, as well as the foundation for them to timely and properly adjust business strategy. Market economy refers to the economy in which people form economic interests or contractual relationships. Under such economic system, starting a new business cannot be realized wi
44、thout peoples relational networks. Relational networks can effectively reduce trade cost, improve efficiency, cut down on entrepreneurs personal cost. In addition, according to the relational capital theory and social network theory, as entrepreneurs unique resource, relational networks will also br
45、ing them relational rental benefits. No matter selling others products or own products, people need strong marketing networks as the marketing platform. Success of many enterprises are usually because of the powerful market networks. 6. Strategy used for acquiring the resourcesIn this case, the entr
46、epreneur draws up the original idea and writes down the business plan based on market research, literature review and professional consultants help. In terms of gaining external sources of finance, four methods will be used. The first is raising fund from relatives and friends, the two parties will
47、form the debtor-creditor relationship. The second method is applying for business loans from the bank. The third one is seeking for financial support from certain programs released by the government or school. The last method is ownership financing, including attracting new members who have funds to
48、 participate the new team, attracting existing enterprises to invest the new business as shareholders, attracting business incubators or venture investors to invest equity capital etc.In order to acquire technology and talents, the entrepreneur will attract technology owners to participate in the te
49、am, such as professional nutrition experts. The entrepreneur will also directly purchase others mature technology such as e-commerce platform technology. As for the acquisition of information about technology, market and policy, there are a wide range of ways, including government institutions, peer entrepreneurs or enterprises, professional informati