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3196 Downloads 9 Pages 2249 Words
Every new business is developed with a visionary idea. An entrepreneur started going into the direction of developing a new venture on the basis of a unique and innovative idea. In the present context, lots of novel concepts of doing the business have been emerging. Entrepreneurs are looking forward to give many valuable benefits for the society. Taking that into consideration we also planned to introduce a new concept of doing business.
The current business proposal is also about converting a good idea into a successful venture. The plan is to set up an online confectionary store on the basis of click and collect concept and the name is Choco-line. Under this venture, an online portal will be created where different list of confectionery food items will be displayed along with the price list. These products will include Cakes, pastry, pie, cupcakes, cookies, chocolates, muffins etc. Customers will have the option to form a basket of items require by them. For that purpose they are required to place an online order, make the payment and mention the collection time for the order before one hour. The placed orders will be readily available for the customers at the mentioned time. Hence this is the whole concept for the new venture.
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The plan is positioned in southern parts of London. It is one of the most cultured city in UK. On doing some initial investigation it has been identified that market of e-commerce has evolved greatly in the present environment. The use of technology has become very important in the life of the people due to their busy schedules. In their busy schedule they take out the time for doing online shopping for their basic necessities. They do not have to go out physically for purchasing anything. It saves lot of their time. Hence the demand for online services is increasing day by day as people are becoming dependent on internet. This in turn provides a huge opportunity for online businesses to grow. It is expected that these things will continue in the future also.
Every business concept is backed with a rationale. Being an MBA student it was always a dream to have my own venture. Before taking this step, the entrepreneur has worked for 5 years in the e-commerce industry. He is having a good experience of how to run an online portal. Initially he was not completely into the business but gradually he started developing his thinking and increased the knowledge in this domain. After doing high level of research, he came on to the conclusion that he will be starting an online business. It is a dream project for him as he is using all the savings for it. So it is hoped that all the objectives related to this development proposal are fulfilled in best manner possible.
This business idea is a viable opportunity. It is evident that market for online services is growing very rapidly. E-commerce is capturing almost all the gains in the retail sales. The dependability of people on the internet, even for the basic services shows that new concept has huge potential. Apart from that, in the present context different types of products such as clothes, electronics, vegetables, FMCG, gadgets etc. are available on different online portals. Many new online retail companies have been emerged and are engaged in providing quality service for the customers. It is expected that entrepreneurs will adopt and experiment with many technological innovations. It will be used to figure out how the purchasing and shopping experience will be improved of the customers.
The business is incomplete without a mission. It describes what the company wants to do now. It is about stating how the business will reach to the point where it want to be. The statement talks about the present leading to the future. The mission of the Choco-line store is to establish a highly comfortable and flexible online confectionery store for the customers. Very high quality online service will be given to them. A very fair and honest approach will be maintained in taking the orders. Consumers will not have to wait for taking their orders. They can collect the order rightly at the mentioned time. Things like delays cancellation etc in the orders will be avoided. Hence it is expected that with this mission statement, Choco-line will be achieving all its business goals and objectives.
Vision statement of an organization where it want to be. It communicate both purpose as well as values for the business. The statement also talks about the future. Hence it is essential that a business must have an appropriate and relevant vision statement for attaining success.
The vision of Choco-line is become London’s most consumer centric online confectionery store. The purpose is to create a platform where customers can avail the services with comfort and flexibility.
The major aim of the business development proposal is to open a highly comfortable and flexible online confectionery store for the customers. In order to achieve the above aim following objectives have been set up:
The business concept is to set up an online confectionary store on the basis of click and collect concept and the name is Choco-line. Under this venture, an online portal will be created where different list of confectionery food items will be displayed along with the price list. Business will be making money through taking the online orders from the customers. It is a great opportunity because the market for e-commerce is increasingly rapidly across the world. The internet users are rising day by day. People spent most of their time online in fulfilling their personal and professional needs. Further use of technology has become very essential for the companies. It is essential because it makes the functioning of the operations very easy. It is expected that Choco-line will also achieve is goals and objectives in effective manner and will able to make a good place in the minds of the customers.
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Following products and services will be served by the online store. The store will serve different types of cakes in varieties of flavours such as chocolate, orange, mixed fruit, pineapple, etc. This item will be able in different sizes also. Pastry will be served in seven delicious flavours. The other items which will be offered by Choco-Line includes pie, cupcakes, cookies, chocolates and muffins. All the products will be made in very hygienic and sanitised conditions. Customers will get fresh items every time during the business along with high class services. They will not have to wait for taking their orders. They can collect the order rightly at the mentioned time. Things like delays, cancellation etc. in the orders will be avoided.
The demand for the confectionary goods is high in the UK market. The demand for freshly baked bakery products has increased by 20% since 2011. Freshness is the major reason for buying of these kind of items from the customers. The demand for the quality remains a high priority. Taste, price promotions, in-store offers are some of the factors which affects the purchase decisions. This industry is dominated by the small firms because no individual company has a significant control. The market for cakes, pastries and other confectionery items remains less concentrated and there are no firms which are specialized in these areas. Further market for e-commerce is growing on a wider scale. The online customers are increasing day by day because their needs are being fulfilled in effectual manner. Hence it can be said that feasibility of products is high in the following business. Choco-line is required to make a good use of all its resources.
The confectionery products are marketed for following segments:
Young Children – These products are very popular among the young children. They generally prefer to eat these products because they fascinates them. Choco-Line will be mainly targeting them because it is expected that high amount of sales will arise from this segment.
Youngsters – These kind of products are also very popular among college and school going students. The online services are highly used by the young generation because they are more techno-friendly. It is expected that high number of orders will come from this segment only.
Housewives – The confectionery items are quite popular among the family segments also. The housewives generally prefer to buy such items for serving them at the time of breakfast, lunch and dinner.
Choco-Line will deliver the following values from the new business:
Fascinating concept – The business concept is very fascinating for the customers. They will have an option to form a basket of confectionery items required by them. They can place the order and collect the order at the desired time. It is expected that this kind of value will help in generating customers for the business.
Online Presence – It is the major value hold by the new venture. Online presence of business offers comfort and relaxation to the customers. They do not have to physically visit the store and order for eatables.
Click and Collect concept – This is a new form of business concept which offers value to Choco-Line. By placing the orders online, they can collect the orders from the store at the mentioned time. However, they need to place an order minimum one and half an hour prior to their collection time.
Choco-Line is operated under a sole proprietorship business. There will be a sole owner for planning, organizing, directing and controlling. Total five employees will be appointed for the venture. These are as follows:
Technical operator – He will be appointed for the purpose of handling the website operations. He will be managing all the orders from the clients
Administration – He will be handling all the accounts and administration work
Delivery boy – One delivery boy will be appointed who will be responsible for handling the deliveries to the incoming customers.
Kitchen staff – Two Cooks will be appointed for making all the confectionery items
All the above staff will be appointed by the owner himself. At the initial level, these people will remain the key team but with the expansion the size of the management will get increased. In order to good level of control, all the employees will be invited in the making of the decisions.
Following skills are required to manage the business of Choco-Line store:
Technical skills – The whole new venture is based on online services. These kind of services requires implementation of good technical skills. It is important that order from the customers are to be managed in effective manner without errors. Different technical errors can create problems in gaining the business from the clients. The work cannot be managed without technical skills.
Conceptual skills – Opening a new business also requires different types of conceptual skills such as logical reasoning, judgement and analytical abilities. The assumptions are to be made with correct estimations. A lot of background work is needed in projecting the sales and profits.
Leadership skills – The owner of the business is required to show effective leadership skills. It means he must know how to get the things done from his staff in effective manner. An appropriate style of leadership can be used depending upon the situation. A good leader can achieve success if he has got adequate support from his team.
Negotiation – This is a very unique skill which is needed to survive within the existing business environment. The owner will have to reflect great negotiation skills with the suppliers and creditors. Issues such as conflicts and dis-arguments are to be avoided.
From the above chapter it can be summarized that the new business concept is very unique and different. It has got the required potential to achieve success. The products and services offered by Choco-Line are highly feasible. The demand for the confectionery items is high in the UK market. Freshness is the major reason for buying among the customers and the demand for the quality remains a high priority. The selected approach of management is also very effective. Different types of interpersonal skills are needed to achieve success such as technical skills, conceptual skills, leadership skills etc.
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