For this assignment you are required to develop a complete detailed Business Plan portfolio document for your selected business concept in less than 3,500 words. You may add appendices that are additional to and support your main text.
You are to apply skills and knowledge of the learning from this unit and from prior MBA units to build the value of the business concept and capture this in a Business Plan for review and assessment.
You should devise a suitable format that is based upon established practice and delivers key information clearly to readers and assessors. There are many business plan templates available and you may choose one that is appropriate for your needs and covers the issues detailed below or modify the format that follows which is sourced from Forbes/Virgin/Huffington and Australian Government.
Business Venture Plan Template
|Executive Summary||A synopsis of the key issues of each section below|
|Vision and mission||What will be created – big picture of the need|
|Product or service description||What will be made or supplied to whom – detail of benefits|
|Point of difference||What is unique and saleable – how it will be protected|
|Market analysis||What size and growth, competitors, segmentation and share|
|Business team||Who is involved and capability, networks, key personnel|
|Marketing plan||What, why, when, how who and when|
|SWOT of your company||Strengths, weaknesses, opportunities, threats|
|Set up||Capital sources, infrastructure, resources, lead time|
|Cash flow||Fixed costs, timing, break even and exit – hard facts|
|Revenue projections||Profit after tax, return on investment, dispersion goals - risk|
|Conclusion||Key features and critical milestones|
|Appendix||Supporting detail – expanding critical issues in main text|
Mission and vision of the business
The mission of the business plan is providing health-conscious food options to the people. The aim of the business is to offer a healthy as well as enjoy food to the people according to the preferences of consumers. The food stalls in the Optus Stadium is required to offer the people some delicious food that will be healthy for them at the same time. The food is required to be offered to them at a lower cost so that the people of all classes can be able to afford the food items.
The vision of the business plan is to provide healthy food on the basis of the sausage sizzle model. It has been found that the sausage sizzle model is considered one of the successful models. There will be stalls at the Optus Stadium inside as well as outside the stadium. The junior football members will be representing as the staffs. The food will be delivered to the people so that the people can be offered the food ease. There will be a link between the food options and the program of Healthway Live Lighter. The business is being planned to be extended till the WA Cricket Season.
Point of difference
The main difference between the business plan and the other food stalls is that the food offered by the stalls at the Optus Stadium is health conscious. The price of the food items offered in the food stalls is at a lower cost as compared to the other food stalls. The requirements and preferences of the people have been kept in mind while offering the food to the people. There will be a link between the organization and the corporate social responsibility of the organization which is rarely found in any other food stalls. The ingredients that will be used in the food will be supplied by the best food suppliers so that proper and healthy food can be offered to the people. With this business, the people will be able to have healthy food at the events of sports organized in the Optus Stadium, Perth. The people will not be worried regarding the food due to the high as well as unhealthy food as it will be offered by the food stalls in the organized in the Optus Stadium, Perth.
Through the analysis of the market, it has been found that the level of competition in Perth is high as there are many health councils food industry in Perth (Binns et al., 2018). It has been found that the cost of food has been increasing among the health councils food industry in Perth. Therefore, the food items are required to be offered in such a manner that they can differentiate the food of the stalls in the Optus Stadium, Perth with the food items of the other food stalls. The price charged on the different food items will be low as well as competitive with the health councils food industry in Perth (Pulker et al., 2018). The people in Perth prefer seafood due to which a variety of seafood will be offered in the stalls at the Optus Stadium, Perth.
Figure 1: preference for seafood in Australia
(Source: Pulker et al., 2018)
The food items will be prepared according to the requirement and demand of the people. This will help in attracting more people towards the stall so that the volume of sales can be increased. This will increase the level of profitability of food stall in the Optus Stadium, Perth. This will help the food stall in capturing a large share in the market with time. It has been found that the people of Perth prefer spending only 23 per cent of their income in the foods (Friel et al., 2014). The staffs and representatives of the business will be trained in a proper manner so that they can attract more consumers towards the stall in the Optus Stadium, Perth. This will help in increasing the level of spending of the income of the people of Perth. The ingredients used in the preparation of the foods will be of good quality so that the health of the consumers cannot be affected in a negative manner. The foods offered at the stall will be offered in such a manner that the people who are health conscious can also be able to eat the foods of the stall in the Optus Stadium, Perth. This will help in the growth and development of the business with the increase in the volume of sales.