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Assignment 1 – PJ1

Opportunity Analysis of New


Business Venture

Business Plan

Anti-diabetic herbal Chocolate

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Contents
Self-Analysis:..................................................................................................................................3

Business Idea:..................................................................................................................................3

Description of the business:.........................................................................................................3

Unique Selling point....................................................................................................................3

Market Research..............................................................................................................................4

Segmentation:..............................................................................................................................4

Targeting:.....................................................................................................................................5

Industry Analysis:............................................................................................................................5

Technical feasibility:........................................................................................................................6

Financial feasibility:........................................................................................................................7

Scenario versions:............................................................................................................................9

Scalability of the business:..............................................................................................................9

Bibliography..................................................................................................................................10

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Self-Analysis:
I have the ability to work in a stressful environment, along with which I am very optimistic. I
know how to stay positive in a tough situation in life. As I am going to start a business, so I know
that my optimism is going to help me to make my business plan successful. There may be a
tough time in the business, during which my optimism would help me to carry on my business. I
am also able to manage employees as well as myself. Managing people will help me to manage
the employees in the business. I am also able to manage myself. This is very much necessary as
this used to increase the motivation among me. Motivation is a factor which used to promote
dynamism. AS a dynamic person I will be able think innovatively. Innovative thinking is going
to be very much helpful in expanding and managing my business. Hence, overall, I think I have
all the capabilities that is required to become an entrepreneur.

Business Idea:
Description of the business:
The business plan is about opening a store that provides anti-diabetic herbal chocolate. There are
many diabetic patients who could not have chocolate due to diabetes. Anti-Diatec chocolate
could be consumed by those diabetic as well as the normal customer. The store is going to offer
free home delivery during a festive session like Christmas, Good Friday, etc. The name of the
chocolate would be “Healthy and Tasty Chocolate.” As the chocolate has herbs so it will be good
for health also [ CITATION Opa14 \l 1033 ]. The children could easily consume chocolate for its
health benefits. The store would also provide offers and deals on the chocolate during the off
season so that the minimum sale of chocolate is guaranteed. The store would also take party
orders like birthday, marriage, etc. and provide free home delivery service. These activities
would help to increase customer demand for the store, and the sale of the shop would increase.

Unique Selling point


Unique Selling point about the chocolate which makes it different from other chocolates is that it
is herbal chocolate which could be consumed by the diabetic patient. The Anti-diabetic herbal
chocolate could also be consumed by a normal person [ CITATION Dra15 \l 1033 ]. The
chocolate would be containing herbs such as Gymnema Sylvestre, Cinnamon, cloves, rosemary,

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oregano, ginger and curry leaves. For making chocolate, cocoa butter would be used, which is a
type of vegetable fat. Vegetable fat is considered to be healthier then compared to the animal
fatty acid [ CITATION Tab15 \l 1033 ]. Hence the chocolate is made for good health so only
those ingredients would be used that is considered good for the health.

Market Research
Market analysis uses to provide the evaluation of the factors like Segmentation and Targeting,
which could make impact on the business. Market analysis also helps to plan the business
strategy [ CITATION Kim14 \l 1033 ]. For starting a new business and opening a chocolate store,
market analysis is very much necessary to evaluate whether the business plan is going to be
successful or not. The analysis made on the basis of segmentation and targeting.

Segmentation:
The segmentation is based based on demographical segmentation, behavioural segmentation, and
psychographic segmentation.

Demographical Segmentation: - With the help of the demographic segmentation the customer
would be segmented on the basis their income. The rich people need the cakes with all more
ingredients and good taste. They would also be looking for chocolate cookies. People with
moderate income would get attracted towards medium size cake with the medium facility.

Behavioural segmentation: - In this type of segmentation, the customer will be segmented


based on the ability to make decision. Health conscious people would like the chocolate because
it consists of herbs [ CITATION Mes13 \l 1033 ]. Also, the herbs in the chocolate used to contain
Anti-diabetic property. This would attract more health-conscious customer. The children would
love to have chocolates, so the taste of the chocolate needs to be maintained. By maintaining the
herbs and the taste of the chocolate, it would become more favourite among the children as well
as the the parents.

Psychographic segmentation: - In psychological segmentation the main aim of the store to


target the customer on the basis interest on chocolate. The people used to have chocolate in every
happy occasion like birthday, marriage ceremony, etc. Therefore, the store could ensure that the
chocolate is delivered on those occasions. The store could also introduce low pricing strategy to

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increase its sale by attracting more customers. The people of UK are very fond of chocolate. So,
opening a store in the place where every people like to have chocolate would increase profit for
the company.

Targeting:
The primary target of the store is children and people who could not consume chocolate due to
diabetes. Children used to enjoy having chocolate. Making healthy and tasty chocolate would
attract not only the children but also their parents. Their parent would feel comfortable to provide
chocolates that are made up of important herbs like oregano, cloves, etc. This will also attract the
parents of the children [ CITATION Car17 \l 1033 ]. The store also targets the diabetic people.
There are many diabetic people who like to have chocolate but could not eat due to health issues.
Making anti-diabetic herbal chocolate would help to attract many people suffering from diabetes.
The diabetic people could consume the chocolate without any worry, as it will be made from
herbs. This would keep their diabetes under control. Also, the chocolate would be made very
tasty so that the people could enjoy chocolate. The third target for the business would be health
conscious people. The store would highlight the healthy effect of the herbal chocolate so that it
would attract more health-conscious people. This increases the scope of the business, which also
gives a guarantee to the success of the business plan.

Industry Analysis:
To evaluate the market, Porter’s 5 forces model being considered. According to the model, the
business could be affected in the following way: -

Bargaining Power of the supplier: - The store must purchase raw materials like chocolate,
artificial sweetener, etc. As a new business is going to be started so this gives high bargain power
for the supplier. However, once the business becomes stable, then the bargaining power of the
supplier would be moderate. There will be another supplier with whom the company could buy
raw materials.

Bargain power of the customer: - During the beginning of the business the bargaining power of
the customer would be high. Many customers may demand to provide them chocolate products at
fewer prices. The store should also provide offer and deals with its product so that the brand

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name increased. Once the brand name of the store becomes well known, then the bargaining
power of the customer would be moderate.

The threat of new entry: - The business of combining herbs in chocolate is very rare in the
market. Therefore, the threat of new entry is very low. There are chances of opening a new
chocolate store, but that would not be providing herbal chocolates. Also, the business plan is to
provide healthy and tasty chocolate. The normal chocolate store may provide tasty chocolate, but
there are little chances that they could meet the healthy factor. Hence there is very little threat
from the new store.

The threat of substitute: - There is the medium threat of substitute for the business. The herbal
in the chocolate may result in cost hike. So, the people may prefer normal chocolates. But many
people have diabetes problem, so they would feel attracted towards the chocolate store. Also,
many parents would prefer herbal chocolates for their children due to its health benefits.

Competition of the Industry: -The competition in the company is medium. There are many
shops that would be providing normal chocolate products. But they would not be able to provide
the healthy chocolates. So, there may be many chocolate shops but could not provide herbal
chocolate with good taste. However due to the presence of herbs the cost of the chocolate may
increase. But its healthy effect makes the USP far more effective then compared to the cost of the
product. There are bigger Chocolate companies like Amul, Cadbury and Nestle and also there are
small boutiques which can be comprised as competition. Due to the uniqueness of the product,
there is no direct competition for the product.

Technical feasibility:
For chocolate making, initially need a double boiler, tempering stone, packaging candy moulds.
The double boiler is required to boil the chocolate. The hot chocolate is then tempered using
tempering stone to give it a waxy texture and good taste to the chocolate. Cocoa butter is also
added to the chocolate at this stage that helps to give it a good taste. Packaging candy melds are
used to give necessary shape and size to the chocolate. This will enable to set the shape of the
chocolate according to the requirement.

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The chocolate shop may require three different rooms for proper manufacturing of the chocolate.
One room would be required for the boiling the chocolate. Another room is required for
tempering the chocolate. And the last room is required for the melding the chocolate in
appropriate candy moulds. The tempering and melding of chocolate can be done in the same
room. Around 5 people are required for the making of the chocolate. One person is required at
the boiling of the chocolate. Two persons are required for the tempering process, and two people
are required for the melding process. Also, two professional experts are required to guide the
employees through the process of the chocolate making. The experts would provide guidance to
the employees so that they could work in a professional manner and could generate good quality
of chocolate. The store would also go for a patent for its own herbal chocolate recipe. The patent
would help the company to earn money from the patents and use the money to rejuvenate its
shop.

Financial feasibility:
Here the forecasted profit and loss statements and future breakeven points are discussed. The
Firm is going to have two some losses in the initial year.

Start-up costs:

Here the future forecasted revenue projection is given and the total start-up cost for the 1 st year is
£1340000.

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Sources of capital investment:

Here two types of funds are raised. 1 st is director’s fund, and the other is from Bank loan. The
Bank loan will be long term basis, and there will be interests given every year. The firm will be
looking for a bank loan of £50000 at least. Then there will be revenue generation from the
business itself once it starts production.

Projected earnings (Cash flow)

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Here Break-even chart is prepared. The breakeven chart depicts the company can break even
within 2.5 years. Thus, there is a strong chance of high profitability in the business.

Scenario versions:
The business plan would be a success. Many people used to like chocolate but cannot eat
because of diabetes. Herbal chocolate would help the help the customer to eat chocolate tension
free as it contains herbs that used to prevent diabetes. Also, many parents used to look for
chocolate that is healthy for their children and children would also like the chocolate because of
its good taste. Therefore, the business plan has great opportunity to succeed in the market. But at
worst case scenario, if the company will not be doing well, they can shift from their product to
ordinary chocolate and they can also venture into B2B business.

Scalability of the business:


The business involves opening a new chocolate shop. The business would first try to establish a
foothold in the local area. This would require less number of employees and the work load of the
store would also be minimum. But with the increment of the shop, the business would require
number of employees so that more satisfactory service could be provided to the customers. There
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will be more shops opened throughout the country and then at international level. The profit will
be higher and the company can also diverse itself in different herbal products.

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Bibliography
Carreno, I. & Dolle, T., 2017. The Relationship between Public Health and IP Rights: Chile
Prosecutes Kellogg’s, Nestlé and Masterfoods for Using Cartoons Aimed at Attracting Children.
European Journal of Risk Regulation, pp. 170-177.

Dragan, S., Andrica, F., Serban, M. & Timar, R., 2015. Polyphenols-rich natural products for
treatment of diabete. Current medicinal chemistry, pp. 14-22.

Kim, W. & Mauborgne, R., 2014. Blue ocean strategy, expanded edition: How to create
uncontested market space and make the competition irrelevant. Boston: Harvard business review
Press.

Messer, E., 2013. Hot/Cold Classifications and Balancing Actions in Mesoamerican Diet and
Health. The Body in Balance: Humoral Medicines in Practice, p. 149.

Opara, E. & Chohan, M., 2014. Culinary herbs and spices: their bioactive properties, the
contribution of polyphenols and the challenges in deducing their true health benefits.
International journal of molecular sciences, pp. 19183-19202.

Tabung, F. et al., 2015. A healthy lifestyle index is associated with reduced risk of colorectal
adenomatous polyps among non-users of non-steroidal anti-inflammatory drugs. The journal of
primary prevention, pp. 21-31.

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