An exploration of the business planning process and parameters for success for The Protein Bar outlet in Neath, West Glamorgan
Cardiff Metropolitan University
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The aim of this project is to explore the business planning process and parameters for success for The Protein Bar outlet in Neath town centre. The introduction gives a detailed explanation for selecting this innovative business idea and information regarding modern society and their trends with healthy living and the effect that human knowledge on food has developed. In order to achieve this aim the researcher has conducted a literature review and in-depth market analysis, these were done to ensure that there is a high demand for such business. To carry out these the researcher used a variety of sources to gather information regarding starting up a business, marketing a business along with the industry and its current position and trends. From this research a business plan was established, this covers aspects such as the business in detail, premise, employment, marketing strategies, legal considerations and financial forecasts. The financial forecast was positive, first year turnover predictions of £192,200. This is a strong forecast which shows The Protein Bar has a good chance of survival. A SWOT analysis of The Protein Bar was conducted which identified its strengths which were the business’ uniqueness which gives The Protein Bar a competitive advantage, the location and the knowledge and experience of the entrepreneur. Opportunities were identified as expansion to further cities and towns with a chance to add a delivery service as well as the option to work alongside a nutritionist to supply specific diets for customers. Weaknesses recognised as entering a market with no customer base or brand recognition. Threat we seen as new entrants offering the same product or indirect competitors diversifying to become more comparable. To finish there is an evaluation and discussion of the results found within the business planning process and the detailed market research. The results obtained have given a positive outlook on The Protein Bar; therefore the researcher believes the initial aim was met.
BA Enterprise Project
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