easily attracted towards restaurant having good image and goodwill in market thus it is important
for entrepreneurs of Delish-on-the-go restaurant to serve quality and delicious foods at an
affordable prices in order to maximise the satisfaction level of customers which help them in
achieving good reputation and good will in future. It is also important for new business such as
Delish-on-the-go restaurant to secure their new and innovative ideas from their rivals through
using different tools such as copyrights, trademarks, patent etc. due to which new business can
attain its own position in market through provide delicious food of multiple nations that makes
them different from their rivals (
Yu, Chen and Nguyen,
2014
).
TASK 2
P3: Formulation of credible proposal to launch a new venture
The individuals can become a good entrepreneurs when they have sufficient skills and
capabilities to make an effective decisions and plans for the betterment of new venture. For this,
conducting survey or research about taste and preferences of customers helps in formulation of
better policies and plans so as to attract and influence the interest and buying behaviour of large
number of customers (
Hulbert Gilmore and Carson, 2013
). Further plan shall required to be
made by Delish-on-the-go restaurant in the following manner:
Executive Summary
Delish-on-the-go is a new venture which is
established with an objective of serving
delicious foods of different nations so as to
attract customers easily across worldwide. It
includes chicken rice, tacos, Som Tam,
Masala dosa etc.
Company description
An entrepreneur has decided to enter into
food market through starting a new restaurant
where multiple varieties of food items are
provided to the customers of London, UK.
The main objective of Delish-on-the-go is to
earn huge profit and capture large market
share of UK.
Market analysis
Business environment is complex and
contingent in nature which consists of
internal and external factors. Such factors
may either make negative or positive impact
on the business operation of restaurant
therefore required to conduct SWOT and
PESTLE analysis by entrepreneurs
in order
to analyse such influencing factors and
accordingly make further plans and decisions.
Financial protection
Resources are an important element which
supports new venture in achieving growth
and success within shorter period of time.
Therefore, it must required for Delish-on-the-
go restaurant to have sufficient re Sources
such as funds due to which they can acquire
needed assets in performing business
functions.
Benchmarking
Before executing business activities, it is
important to set benchmark for the owners
and employers in order to bring motivation
among them to give more efforts in fulfilling
their commitments. It directs the employees
to perform as per the standards which helps in
increasing satisfaction level of customers.
