This sample will guide you about:
- Introduction to Business Idea
- Rationale of the concept
- Aim and objectives of the business
- Target Market and Segmentation of the business
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.
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.
Rationale of the concept
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.
Aim and objectives
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:
- To offer highly enriched and quality confectionery food items to the customers
- To create an online platform where people can select items of their necessities and place an online order as per their convenience
- To open a store which can give more ease and relaxation to the customers
CHAPTER 2: BUSINESS CONCEPT
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.
Products and services
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.
Target Market and Segmentation
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