Business Plan for the Entrepreneur 1

BA (Hons) Culinary Arts – Level 6

Module Code 6HO722

FALL 2022 Intake – Term 6

Student Name……………………………………………………………

Module Leader: Dr. Apostolos Ampountolas

Email: [email protected]

Tel: + 41 24 482 82 82

This module conforms fully to the relevant UG regulatory framework.
Full details of the University of Derby Academic Regulations (3Rs) can be found at:

http://www.derby.ac.uk/academic-regulations

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MODULE OVERVIEW – PLEASE READ CAREFULLY BEFORE YOU BEGIN YOUR STUDY.

Module Title Business Plan for the Entrepreneur 1

Module Leader Dr Apostolos Ampountolas

Credit Value 10

Assessments Type LO % Hand in

CW 1
1500 words Feasibility Study

1, 2, 3,
4

100%

Week 10

Summative assessment
and marking criteria

Can be found with the assessment instructions and it is
important that these criteria are referred to when preparing and
writing your assessments.

Formative assessment Students will be expected to work in class on various aspects of
the weekly activities and then to translate the tools, techniques
and learning into the business that is being planned. Students
will review their progress through self and peer assessments,
discussions, and meetings with industry professionals. The
students will present their business plan presentation to a
representative of the Ritz Paris in the following module.

Teaching, learning and
assessment overview

This module is delivered in a series of lectures and exercises
will give the theoretical framework on which to develop a food
and beverage business. It will include examples and case
studies on which to develop a feasibility study for your business
and then a business plan that is finally pitched to a panel of
financiers. Private research will be essential to ensure that you
read widely and understand the processes required to assess
this venture.

Student hours of study Total 400 hrs

Hours breakdown: Class Contact 40 hrs. Directed and Independent Study 80hrs.

Return of work,
feedback and
provisional marks will
be viewable at the
submission point.

Assessment 1 – General feedback will be given in class and
then on your written work based on identified criteria in week 1

Term 7

Extenuating
circumstances

If serious circumstances beyond a student’s control affect their ability to complete an
assessment they may submit a claim for Exceptional Extenuating Circumstances. This
must be accompanied by evidence from a competent professional with knowledge of the

circumstances, and all work done to date, by the original assessment submission
deadline. Such applications will be considered by an EEC panel. It is important that
students familiarise themselves with regulations concerning late submission, for

example, EECs will not be granted for poor time management, minor ailments,
computer failure or other such reasons. Please see

http://www.derby.ac.uk/academic-regulations

All marks are provisional until ratified by an Examination Board and the External Examiner.

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MODULE DESCRIPTION

This module is specifically designed to help students develop problem identification, problem
prioritizing, and problem-solving skills; specifically, the development of skills to understand
and apply the cause and effect relationships between performance measures and their
causes. It will explore entrepreneurship and business from a strategic level. Students will
use their culinary knowledge, skill, and creative thinking to compose an innovative business
plan based on their personal culinary focus. Students will be able to understand the
relevance and importance of undertaking secondary and primary research within the culinary
industry.

The module examines procedures, law, and financial accounting and entrepreneurship
considerations. The student will be exposed to business idea generation strategies;
analytical procedures, business plan components, financial planning requirements, and
improve presentation skills. The module is designed around researching, idea generating
and the creation of a feasibility report that will lead to a Business Plan Project.

LEARNING OUTCOMES

On successful completion of this unit students will be able to:

1. Critically examine the different functional areas impacting the food and beverage
service industry and the related decision making;

2. Critically evaluate the feasibility of various components of a food and beverage
related to the business plan, and gain an understanding of the various constraints
placed upon business decisions due to the external environment;

3. Prepare and present a well-researched business idea and feasibility study
relating to a food and beverage business;

4. Persuade, negotiate and convince a third party of the benefits of a tourism or
culinary related business concept and opportunity.

KEY SKILLS TO BE DEVELOPED AND MAPPED

The following key skill competencies may be developed and could be used for any portfolio
reflections:

 Demonstrate autonomy in planning and managing resources and processes
within broad guidelines in significant and extended academic tasks (planning and

management of learning);

 Interact effectively within a learning or professional group, with both a broad and
a self critical awareness (interactive and group skills);

 Negotiate in a learning and professional context and manage conflict (interactive

and group skills);

 Be confident and flexible in identification and definitions of problems and
application of appropriate knowledge and skills to their solutions (managing tasks

and solving problems).

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INDICATIVE CONTENT

This module may cover the theoretical and practical aspects of some of the following:

 The Business Plan: An Overview;

 Business Models;

 The chef as an entrepreneur: thinking outside of the kitchen;

 Opportunity, feasibility and Market Analysis;

 The Entrepreneurial Solution and Concept;

 Industry, target customer and Competitive analysis;

 Feasibility Studies;

 The Product Development Process and Operations;

 Product/ Service plan;

 The Offering;

 Developing and Presentation of a Business Plan;

 The Marketing and Sales Plan;

 The Product Development Process and Operations;

 The Management Team and Organizational Structure;

 Critical Risks and Problems;

 Financial Planning;

 Financing sources;

 Writing an Executive summary plus use of Appendices

READING LIST

Students are recommended to utilise the library resources and review a wide range of
literature.

Blackwell, E. (2012) How to prepare a business plan, 5th ed, London, Kogan Page.

Calvin, R. (2004) Entrepreneurial management, London, McGraw-Hill.

Dess, G. (2014) Strategic management: Creating a competitive advantage, London,

McGraw-Hill.

Drucker, P. (2001) Innovation and entrepreneurship: Practice and principles, Oxford,

Butterworth-Heinemann.

Keegan, W.J. and Green, M.C. (2014) Global marketing, 5th ed, London, Pearson Prentice

Hall.

Kotler, P. and Keller, K.L. (2014) Marketing management, 14th ed, London, Pearson

Prentice Hall.

Lee-Ross, D. and Lashley, C. (2009) Entrepreneurship and small business management in
the hospitality industry, Amsterdam, Butterworth-Heinemann.

Lovelock, C. and Wirtz, J. (2011) Services marketing: People, technology, strategy, 7th ed,

Upper Saddle River, NJ, Pearson Education.

Morrison, A.J., Rimmington, M. and Williams, C. (1999) Entrepreneurship in the hospitality,
tourism and leisure industries, Oxford, Butterworth-Heinemann.

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Morritt, R.M. (2007) Segmentation strategies for hospitality managers: target marketing for
competitive advantage, New York, Haworth Press.

Rollinson, D. (2008) Organisational behaviour and analysis: An integrated approach, 4th ed,

Harlow, UK, Prentice Hall.

Ryan, J.D. and Hiduke, G.P. (2008) Small business: an entrepreneur’s business plan

London: South-Western.

Sloan D. (2004) Culinary taste: Consumer behaviour in the international restaurant sector,

Amsterdam, Elsevier-Butterworth-Heinemann. (ebook)

Slocum, J.W. and Hellriegel, D. (2009) Principles of organizational behaviour, 12th ed,

Mason, OH, South Western Cengage.

Stokes, D.R and Wilson, N. (2010) Small business management and entrepreneurship, 5th

ed, London, Thomson Learning.

Periodicals, Journals and Magazines:

 Sage;

 Hospitality and Tourism Complete;

 Emerald Library Database;

 The Caterer and Housekeeper.

Websites:

These will be recommended by the module leader during the academic year & available on
eLearning.

GENERAL INSTRUCTIONS

1. The following details are all key elements of your assigned pieces of work.

2. Plan and organize your work carefully, bearing in mind submission dates.

3. When completing your work, keep checking it carefully against the assessment
criteria attached.

4. Your lecturer will advise you of the times during which they will be available for
consultation. To manage this resource and time effectively, students are advised to
respect these sessions. Please note that this is a student-based research
assignment, and as such the tutor may not be able to answer certain questions if it is
felt that this would restrict the potential grade.

5. Plagiarism or other forms of cheating will receive a ‘0’ grade and the matter will be
reviewed using the University of Derby Academic Offence Regulations.

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INDICATIVE STUDY PATTERN – TERM 6

Topic area Activities Directed Study

1 Rules of the game

To be an ENTREPRENEUR

… or not

 Introduction to the module 1 and 2 – aims and expectations.

 Overview of assessments and the requirements to be met

 Difference between Feasibility Study and Business Plan

 Writing an Executive Summary

 Leadership

 Entrepreneurship

 Risks and rewards

Read the module handbook

carefully.

Understand the success criteria.

Find an entrepreneur that inspires

you and be ready to present it.

2 There is only one boss…

the consumer

 WHO understanding

 WHO analysis / WHO research

Further research on your WHO

Draw the ID card of your WHO

3&4 The concept makes it all

(almost).

Is your idea feasible?

 What is a concept?

 Building a strong concept

 Using research to discover trends

 To understand the source of business ideas

 Know how to develop ideas

 What does feasible mean?

 Understand how the market environment will be crucial for
feasibility of your idea and success

 Realize the areas to be researched to ascertain this

 Understand research methods and sources

Further research based on weekly
activities. Work on concept

Further research based on weekly
activities. Start to develop feasibility
of concept.

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5 What makes a business
successful?

Assess the market

Legal and technical

feasibility

 Business Angels game

 Outline the criteria for evaluating a business

 Analysing and comparing financial statements to evaluate
potential businesses

 Examine and understand the factors for choosing the ideal
location for your future business concept

 Competition analysis

 SWOT

 Legal aspects

 Detailed requirements of the facilities,

 Inventory and production control

 Delivery

Major components to be considered when designing a
restaurant operation

Further research based on weekly
activities. Get the first numbers of
your business.

Find a location

List you key competitors

Further research based on weekly
activities.

Draw your place.

6 Assess the market

Legal and technical

feasibility

 Examine and understand the factors for choosing the ideal
location for your future business concept

 Competition analysis

 SWOT

 Legal aspects

 Detailed requirements of the facilities,

 Inventory and production control

 Delivery
Major components to be considered when designing a
restaurant operation

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7 Finance – It’s all about the

money, money, money

 Financial Statement

 Balance Sheet

 Income Statement

 Statement of Cash Flow

 (Sources and Uses of Cash – Start up costs)

Further research based on weekly
activities. Fill in the excel files with
your data.

8 Finance – It’s all about the
money, money, money

 Financial Statement

 Balance Sheet

 Income Statement

 Statement of Cash Flow

 (Sources and Uses of Cash – Start up costs)

Further research based on weekly
activities. Fill in the excel files with
your data.

9
Finance – It’s all about the
money, money, money

 Cost structures

 Start up costs / monthly costs

 Average check

 Opening days/hours

 Monthly & yearly sales

Further research based on weekly
activities. Fill in the excel files with
your data.

10
Feedback and tutorials

 Face to face meeting & preparation time Students must submit their feasibility

study on FRIDAY week 10 the latest.

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ASSESSMENT ONE – 1500 WORD A FEASIBILITY STUDY – 100%

Based on the achievement of learning outcomes 1, 2, 3, 4. To be submitted in week 10

In assessment 1 you are required to prepare a 1500-word feasibility study for a food and
beverage operation of your choice. It can be located in any country and for that reason must
comply with the country’s laws and regulations, but all financial considerations and any
costing must be in Swiss Francs.

Conducting a feasibility study prior to investing the time and money to open a business can
help an entrepreneur make a more informed decision about the venture’s chances of
success because they often overestimate the size of the market and do not take into account
tough competition.

Your research and findings should be included in the feasibility study and referenced
appendices can be included. You should cover the following areas although you are free to
include more.

1. Executive Summary

2. Consumer understanding

o Consumer description

o Needs / Desires / Likes / Dislikes

o Data, facts, numbers, sources are mandatory

3. Concept & Business objectives;

o Concept

o Value proposition

o USP / Mission statement

4. Assess the market;

o Evaluate potential locations.

o Review competition and the industry that you are entering.

o SWOT

5. Legal requirements

o Local legal requirements

6. Technical analysis

o Detailed requirements of the facilities,

o Inventory and production

o Storage

o Delivery

7. Management analysis

o Skills and talent of the management team

o Primary duties of each person

o Description of the organization structure.

8. Financial analysis

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o Balance Sheet (Preopening + 5 years)

o Income Statement (Preopening + 5 years)

o Statement of Cash Flow (Preopening + 5 years)

o (Sources and Uses of Cash – Start-up costs)

o Monthly costs

o Average check

o Opening days/hours

o Monthly / yearly sales

9. Time lines

o Produce timelines and plan.

o Gantt graph

10. Conclusion

o Evaluate profitability and success based on the above factors.

Please use the assessment criteria provided overleaf to ensure that you cover the areas where
marks will be allocated – all criteria carry the same marks.

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ASSESSMENT ONE CRITERIA – 1500 WORD FEASIBILITY STUDY – 100%

Tick the box that meets the criteria achieved – record actual mark on the feedback sheet. You may or may not offer comments to justify your grade.

Criteria 100-70% (1st) 69-60% (2:1) 59-50% (2:2) 49-40% (3rd) 39-35% (referral) Below 35%

Executive
Summary

20%

Extremely well written
executive summary
Expressed very well
and structured in an
appropriate format. All
relevant data and
information has been
accurately and
extensively deployed
from the feasibility
study.

Well written executive
summary that is
expressed well and
structured in an
appropriate format.
Relevant data and
information has been
deployed from the
feasibility study.

The executive
summary is
structured in an
appropriate format.
Most data and
information has been
deployed from the
feasibility study but
there are some gaps.

Some thought given to
the executive summary
that has some structure
with a reasonable
format. Some gaps in
the data and
information deployed
from the feasibility
study.

Poor thought given to
the executive
summary that has
little structure. Many
gaps in the data and
information deployed
from the feasibility
study.

Very little thought
given to the
executive summary.
Many gaps in the
data and information
deployed from the
feasibility study.
Executive summary
and or feasibility
study could be
missing

Comments

Research findings
and originality.

20%

An outstanding piece of
work that is produced
to a very high standard.
It is exceptionally well
researched and the
findings are
commendable in their
originality.

A high quality piece of
work that is of a very
good standard and is well
researched. The findings
display originality.

A good standard
piece of work with
some originality
displayed. The work
is quite well
researched but there
are some deficiencies
in the findings.

A sound standard of
work that is lacking in
its research content.
Very little originality
displayed in the
findings.

Overall the work is
marginally
unsatisfactory and not
well researched. No
findings or originality
has been displayed in
the work.

Below the pass
standard. Poorly
researched and
the work lacks any
findings and
originality.

Comments

Feasibility of work
undertaken and
results achieved.

20%

An exceptional
standard of work
illustrating thorough
and in-depth
understanding of the
work undertaken. The
concept is entirely
feasible.

A high standard of work
illustrating a good
understanding of the
work undertaken. The
concept is most feasible.

Overall a good
standard piece of
work but some lack of
understanding of the
work undertaken. The
concept is fair but not
entirely thought
through.

Some weakness in the
standard of work. There
are some significant
misunderstandings and
errors. The concept
debatable and not well
thought through.

Some significant errors
and misunderstandings
in the work. The
concept does not
demonstrate an
understanding of a food
and beverage
business.

Some serious
misunderstandings
and errors. A clear
fail short of pass
standards.

Comments

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Grasp of
theoretical/
conceptual and
practical
elements.

20%

Excellent grasp of
theoretical/conceptual/
and practical elements
related to the feasibility
study.

Good grasp of
theoretical/conceptual
and practical
elements related to
the feasibility study.

Adequate grasp of
theoretical/conceptual/
and practical elements
related to the feasibility
study.

Some grasp of
theoretical/conceptual
and practical elements
related to the feasibility
study.

Poor grasp of
theoretical/conceptual
and practical elements
related to a poor
feasibility study.

Major deficiencies
or omissions in
theoretical/
conceptual and
practical elements.
Not a feasibility
study.

Comments

Knowledge and
understanding
demonstrated
through workings
in the appendices.

20%

Excellent supporting
evidence that is
appropriate in the
appendices. Shows an
excellent knowledge
and understanding of a
new food and beverage
concept that is based
on appropriate theory.
Very logical and well
structured with most
elements included.

Good supporting
evidence that is
mostly appropriate in
the appendices.
Shows a good
knowledge and
understanding of a
new food and
beverage concept that
is based on theory.
Logical and structured
with most elements
included.

Most supporting
evidence provided that is
appropriate but with
some gaps in the
appendices. Shows
knowledge and some
understanding of a new
food and beverage
concept but not fully
based on theory. Some
structure but with
elements missing.

Evidence provided but
not always appropriate
and with gaps in the
appendices. Shows
little knowledge and
understanding of a new
food and beverage
concept and not based
on theory. Very little
structure with many
elements missing.

Poor supplementary
evidence provided, not
referenced or
structured within the
work. Just a collection
of material. Elements
missing.

Supplementary
evidence not
provided,
referenced or
structured within
the work. Just a
collection of
material. No
elements

Comments

Signed…………………………………………………………………………………………………. Date…………………………………………

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FEEDBACK SHEET – 1500 WORD FEASIBILITY STUDY – 100%

BA (Hons) Culinary Arts Business Plan for the Entrepreneur 1

Student Name/No

Based on the assessment criteria ticked above convert this to an actual mark using the classification guide.

Criteria

All are equally weighted

1st

100-80

1st

79-70

2.1

69-60

2.2

59-50

3

49-40

Ref

39-35

Fail

34-20

Fail

19-0

Actual
mark

Executive Summary

20%

20-16 15-14

13-12 11-10 9-8 7 6-4 3-0

Research findings and
originality.

20%

20-16 15-14

13-12 11-10 9-8 7 6-4 3-0

Feasibility of work
undertaken and results
achieved.

20%

20-16 15-14

13-12 11-10 9-8 7 6-4 3-0

Grasp of theoretical/
conceptual and practical
elements

20%

20-16 15-14

13-12 11-10 9-8 7 6-4 3-0

Knowledge and
understanding
demonstrated through
workings in the
appendices.

20%

20-16 15-14

13-12 11-10 9-8 7 6-4 3-0

Total 100 marks Actual final mark achieved

What you did well?

What could you have done better?

Improvements to be made.

Signed: Date:

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