The Business Plan Evaluation Paper

Introduction

The business plan provides the type of business ME 13TH is and the market gap that the business is filling stating its target customers. The scope and its competitive niche that helps it thrive more than others are well stipulated with participation in social responsibility well indicated. The mission statement of the business summarises both financial, non-financial goals and objectives. Both income and expenses are indicated in the business plan stating how the business will source out its finance and how it uses it. ME 13TH business is so far getting its profit despite the challenge of bringing the investors on board. Detailed information on how the investors will be involved should be looked into so that such business to have reliable alternative sources of income.

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Business Environment Analysis

The business plan has indicated the right business environment based on competencies for a sustainable competitive advantage with unique services from their competitors such as good reliability with retailers and clients by keeping time and quality respectively. The business plan should include the measures that need to be taken to ensure a sustainable environment by carrying out more research.

Marketing Plan

The ME 13TH business plan has a detailed marketing plan that has stated the strengths and weakness of the business from research that has primary and secondary data. The business plan outlines the advantages of the company which is the availability of opportunities in the market, uniqueness in their products and lack of leadership rivalry. Competition is the primary challenge. Differentiation of products and services and innovation are suggested to keep the company relevant to the ever-changing market environment.

Primary Research Evaluation

The business plan integrates research to determine comprehensive information. However, there is not enough secondary information, and therefore a more detailed review of the past literature should be conducted to help get the full concept of food and health. The following evaluations on primary research are:

• The gender balance was considered to avoid biasness
• The age group marched that of the target group
• The choice of questionnaires as the method of data collection was the most suitable for collecting marketing preferences and for avoiding biasness.
• The size of the sample of respondents from Weighhouse was too small to represent the whole population across the country.
• There were gender and age balance among the respondents
• The age group was a balance
• The distribution of people regarding location is captured

Question 4 verified that there is a market opportunity for delivery services as people are busy at work

Food preferences by age group were captured in question five

Issue six was not as relevant as it doesn't how busy one is then the health of a person. If one has decided to eat healthy food, then he/she will have it from companies such as ME 13TH.

Financials

While the financial report shows that the business is doing well with profit, a detailed cash flow forecast should be projected every year to show the income and expenditures. A loss and profit forecast will help attract potential investors (Scarborough, 2016). A longer and detailed financial statement the growth of a business can be determined.

Marketing

The size and the target population has been outlined in the business plan the demographic, geographic and behavioural characteristics have been viewed to take the important information. The business plan also includes the stiff competition from similar producers with the market preferences known important measures have been put forward to keep ME 13TH on the competitive edge. Such as differentiating products and services.

Operations

The business is in a strategic position in the populous areas of the town targeting the working population.

Management

The business is a partnership involving a couple, which means that they both bare all the costs connected to the operations, and enjoys all assets of the same. The Human resource is well outlined which according to Mason & Stark, (2004) show the roles of each in regards to their rank in the company, the hours they are required to work, and the benefits they bring to the restaurant. SWOT analysis has been produced that identify the macro environmental and microenvironmental impacts on the business.

Summary

The business is grounded in the business plan that offers the critical essential to keep in check before venturing into any restaurant business. The location, pricing, marketing and the staffing are well described from primary data which is more informative than secondary data in this case.

Reference

Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management. Pearson.

Mason, C. and Stark, M., 2004. What do investors look for in a business plan? A comparison of the investment criteria of bankers, venture capitalists and business angels. International small business journal, 22(3), pp.227-248.