A

REPORT ON
Entrepreneurship Development and Innovation Management
Submitted to
INDUKAKA IPCOWALA INSTITUTE OF MANAGEMENT (I2IM) CHAROTAR
UNIVERSITY OF SCIENCE AND TECHNOLOGY (CHARUSAT)
CHANGA
Prepared by
Ronak Manvani
ID No.:18BBA032
B.B.A Programme, Semester-V
Under the Guidance of
Dr. Pranav Desai and
Dr. Jignasu Yagnik
Assistant Professor,
Faculty of Management Studies,
Charotar University of Science and Technology

INDUKAKA IPCOWALA INSTITUTE OF MANAGEMENT (I2IM)

CHAROTAR UNIVERSITY OF SCIENCE AND TECHNOLOGY (CHARUSAT)
AT. & PO. CHANGA – 388 421 TA: PETLAD DIST. ANAND, GUJARAT
DECLARATION

I Ronak Manvani student of Semester 6, BBA Programme at Indukaka Ipcowala Institute of

Management (I2IM) hereby declare that the report for Entrepreneurship Development and
Innovation Management is the result of my own work. I also acknowledge the other
works/publications cited in the report.

Place: Changa ______________

Date: 10/3/2021 (Ronak Manvani)
ACKNOWLEDGEMENT

On the outset of this report, I would like to extend my sincere thanks towards the entire
personage who have helped me in this report. Without their active guidance, help,
cooperation and encouragement I would not have headway in this report.

I am extremely thankful and pay my gratitude to my Professor Dr. Pranav Desai and Dr.
Jiangsu Yagnik for his valuable guidance and support on completion in this project.

I also acknowledge with a great sense of reverence, my gratitude towards my parents and my
family members, who has supported me morally as well as economically.

At last but not least gratitude goes to all of my friends who directly or indirectly helped me
to complete this report.

Place: Changa
___________

Date: 10/03/2021 Ronak Manvani

Business Plan for: A Mobile Fast-Food Truck Business

Business plan contents
Executive Summary…………………………………………………………………………………………………………….3
Executive summary........................................................................................................................................................3
Business details...............................................................................................................................................................4

Vision........................................................................................................................................................................... 6
Business goals................................................................................................................................................................. 6
Legal requirements.........................................................................................................................................................7

Marketing...................................................................................................................................................................8
Profiling competitors......................................................................................................................................................9
Managing market risks...................................................................................................................................................9
Promotion and advertising...........................................................................................................................................10

Finance...................................................................................................................................................................... 13
Start-up costs...............................................................................................................................................................13
Profit and loss forecast.................................................................................................................................................15
Sourcing finance...........................................................................................................................................................16
Managing financial risks...............................................................................................................................................16
Cash flow forecast........................................................................................................................................................17
1 Executive summary.
The motivation behind this Business plan is to fund-raise for the improvement of a
food truck. The food truck's normal monetary advance And give versatile deals of
food to clients in its focused on market.
2 Business details

Company name: A Mobile Fast-Food Truck

Telephone number:
9428202700

Legal status:
According to IBISWorld, the food truck industry has 25,476 businesses in
2020. Growth in the industry from 2015 to 2020 averaged 8.7 percent. With
the COVID-19 crisis a reality now, arguably, the food truck industry may be
better suited than brick and mortar restaurants to navigate the challenges.
With more people consuming take-out food and spending less time in sit-
down establishments, food trucks may appeal to customers’ desires for
getting good food fast and with less person-to-person contact.

The Business will:

The business will spend significant time in serving luxurious cuisine dependent on
ethnic road food from sound the world. counting the accompanying

1. Burgers

2. Bar-b-que and brisket

3. Steak sandwiches

4. Pizza

5. Connoisseur macaroni and cheddar

6. Espresso

7. Doughnuts

8. Cinnamon rolls
9. Sushi

10.Servings of mixed greens

11.Tacos, burritos, nachos

12.Frozen yogurt and milkshakes

13.Shaved ice

14.Lemonade

15.Franks

16.Delicate pretzels

17.Shop sandwiches and wraps

18.Waffles

19.Sans gluten choices

20.Lobster rolls

21.Cajun food

22.Connoisseur barbecued cheddar

23.French fries

24.Channel cakes

25.Empanadas

26.Cupcakes

27.Battered cheddar curds

28.Vegetarian, natural, and without gluten menus

  Position/main responsibilities:

The food truck administrator is liable for overseeing food administration activities
inside food truck. Guarantee all representatives continue in house strategies and
techniques and meets with all government and state prerequisites.

 Direct the everyday tasks at food truck and business kitchen.

 Plan for and buy nourishment for day by day tasks.
 Keep up required records including food creation, stock, pay/cost, and feast
checks and staff records.
 Guarantee food truck staff individuals follow legitimate sterilization methods.
 Direct food truck workers, including cooks, food preparers, clerks, and
different representatives.
 Guarantee wellbeing guidelines are kept up while food is being cooked.
 Get ready and serve the food.
 Plan menus.
 React to client inclinations and grumblings.
 Set costs for every item on menu.
 Plan and spending plan for future dinners.
 Keep up hardware including fridge, oven, prep table and cookware.
 Guarantee client feasting experience is acceptable.
 Assist food.
 Recruit, enrol, and train representatives.
 Convey requests to suitable clients.
 Direct the cleaning of the truck and business kitchen.
 Keep up representative records, get ready finance, and complete desk work to
consent to laws and guidelines.
 Track supplies and buys.
Experience and knowledge of our industry:
 Great relational abilities
 Basic reasoning
 Functioning admirably in a group
 Self-inspiration
 Being adaptable
 Assurance and perseverance
 Being a speedy student
 Fun time the board
 Key skills brought to the business:
 Financial management. Being able to effectively manage your finances is critical. ...
 Marketing, sales and customer service. ...
 Communication and negotiation. ...
 Leadership. ...
 Project management and planning. ...
 Delegation and time management. ...
 Problem solving. ...
 Networking.
Business experience and any training undertaken:

Stage 1 - Identification of preparing needs

This underlying phase of the preparation cycle tends to seeing whether there is, or
distinguishing preparing needs. On the off chance that a need is distinguished, it is at
this stage that who needs prepared (target crowd), in what and how you will
Realize the preparation has had the planned effect achievement criteria* of the
preparation ought to be distinguished.

This stage will assist the individuals who with recognizing preparing necessities to
consider why the preparation is required and its anticipated result and effect. How
you will gauge if the preparation has met the first need for example achieved
planned change in conduct, execution and so on

Stage 2 - Design of preparing arrangements

This stage covers arranging, plan and improvement of officer preparing. It intends to
guarantee that an orderly and steady methodology is embraced for all preparation
arrangements. Preparing arrangements cover face to confront preparing and open
and adaptable getting the hang of including e-learning.

Stage 3 - Delivery of preparing arrangements.

This phase of the preparation cycle guarantees that the conveyance of the
preparation is successful and gives openings for the students to learn. This will
include picking the most proper arrangement for addressing preparing
requirements, and exploiting diverse preparing strategies.

Stage 4 - Application of preparing in the court climate.

This phase of the preparation cycle is worried about guaranteeing that all learning
results are applied and Supported practically speaking inside the court climate. This
stage will help the individuals who screen the improvement of individual students
and survey their advancement.

Stage 5 - Evaluation of preparing arrangements.

This phase of the preparation cycle manages the assortment, investigation and
introduction of data to set up the improvement in execution that outcomes from
this. This stage will help the individuals who assess learning projects, or who react to
improvements in learning, or design and present enhancements in learning
intercessions.
 Vision

To move with speed to drive productive development and become a far and
away superior serving more clients tasty food every day all throughout the
planet.

To be our customers’ favourite place and way to eat and drink.”

Business goals
1. What do you want to achieve in your first year of
business?
Being certain about your capacity to accomplish objectives can assume a huge
part in your prosperity. You need to trust in yourself in the event that you will
accomplish your objectives.

Thinking emphatically, reassuring yourself, and being empowered by our help

group is imperative. Positive considerations can frequently bring you through
intense difficulties, surprising changes and different trial of our will.

It's imperative to commend our victories all through our objective setting and
accomplishment measure, even the little successes. By commending, you are
setting aside some effort to perceive the exertion that went into our
accomplishment while persuading ourself to continue to push through to the
subsequent stage of our objective.

Praising achievement is likewise a decent method to finally accept reality on each

phase of the interaction, and to return invigorated and pulled together on our
proceeded with progress.

By following these incredible objective setting steps, you will actually want to
separate our drawn out objectives and make child strides every day to draw
nearer and nearer to our prosperity.
 2. Where do you see your business in 3-5 years’ time?

A portion Of my future objectives for the following not many years incorporate driving a plan
group in a formal or casual limit. I'm likewise amped up for the possibility of working with item
and occasion groups on creating smoothed out measures—this is a characteristic fit with my
task the board foundation. I'd likewise prefer to additionally build up my abilities in client
experience to help in making more client cantered plans in general."

Legal requirements
The legal and insurance requirements that apply in your business are:
Since there are no obvious laws relating to food trucks/café strategy in
India, the characterized set of reports required are absent anyplace
explicitly. In any case, it is fundamental to get the accompanying
arrangement of licenses for your food truck in India, which will allow you
to continue with your eatery business legitimately in this domain:

 Fire Safety Certificate

 Shop and Establishment License
 NOC from RTO
 NOC from Municipal Corporation
 FSSAI Mobile Vendor's License
 Kitchen Insurance

The consolidated paper and authorizing work can cost you around Rs
50,000. There are a great deal of consultancies which can assist you with
getting the authorizing and different licenses.

Furthermore, here's a rundown of the multitude of licenses needed to

open a café business in India, and the means to secure them.
Marketing

Profiling competitors

Building up a SWOT Analysis for Your Food Truck

Strength: In a SWOT investigation, you take a gander at the qualities of your

business first. Qualities incorporate those things that you show improvement
over others and what makes you stand apart from your competition. For model,
you may have a license to work your truck on ends of the week in an ideal spot
almost a bar that doesn't serve any food past 10 p.m. Whatever your qualities
are, use them as a base for future choices.

Weaknesses: Weaknesses in a SWOT investigation allude to those regions

where you can improve that would help better the item or administrations you
give. That you'd see benefits in surveying your shortcomings may appear to be
irrational, however understanding your shortcomings makes them simpler to
bargain with. For model, a shortcoming can be an absence of aptitude in planning
famous treats that are normal in the sort of cooking your idea follows.

Opportunities: The chances segment is basic to your versatile food business'

advancement by assisting you with finding approaches to improve. You utilize the
qualities and shortcoming you've effectively leaned to recognize your
opportunities. Opportunities might be inside, for example, calling attention to
that by employing a baked good culinary expert that has formal preparing in
making sweets, you'd have the option to dispense with one of your shortcomings.
Openings structure the premise of things to come objectives you embrace.

Threats: Lastly, SWOT investigation takes a gander at dangers or potential

issues your truck could run into. Instances of dangers your food truck business
may confront remember the expansion of rivalry for the market, expanded gas
costs, and changing shopper trends. Threats may likewise come from changes in
enactment or permitting prerequisites. Recognizing dangers can assist you with
planning and plan for issues that may come up that could lose your objectives
course.
Managing market risks
Write down the risks you have identified:
1. The biggest risks food trucks are facing every day
2. Vehicle-related dangersCar Accidents
3. Car Accidents
4. Operational Risks
5. Food Spoilage and Fire Hazards
6. Food truck insurance—what coverage is recommended?
7. Workers Compensation

Promotion and advertising

How and where will you promote your product/service?
1) Create a solid, memorable concept
2) Offer something no other food truck is offering
3) Offer mobile ordering and payment
4) Change or add to your menu seasonally
5) Partner with other local businesses
6) Cater weddings, parties, and office events
7) Attend local festivals
8) Grow your social media presence
9) Offer delivery

Create a solid, memorable concept

Finance

A LAND AND BUILDING

Sr. Particular Area Required m2 Rate Rs./m2 Total Value

1 Land 0 0 0
2 Building 0 0 0

Total Rs. :   0

B MACHINERIES / EQUIPMENTS- Fixed asset

Sr. Description Nos. Required Rate Rs. Total Value Rs.

Kitchen Equipment:- all
1 type of crockery set for 2 5000 10000
cooking
Gas Stove with three
2 1 3000 3000
burners ( with gas line)
3 gas cylinder (extra) 1 350 350
different type of boxes
4 (for delivery) (1 set 10 250 2500
includes 10 boxes)

all kind of cooking

5 2 2000 4000
utensils + utensils rack
 6      

7        
8        
      Total 19850

(C) MISC. FIXED ASSETS

Sr. No Particulars Nos. Required Rate (Rs.) Total Value (Rs.)

1 Electrification and    
1985
installation @10%
2 Furniture     5000
      Total: 6985

(D) PRELIMINARY AND PRE-OPERATIVE EXPENSES

Sr. No Particulars Amount (Rs.)

1 Interest during implementation 0

2 Establishment Expenses ( Tech. 1000

Consultancy)

3 Start-Up Expenses 5000

   Total 6000

TOTAL FIXED COST (A+B+C+D) 32835

(E) SALES REVENUE

Year Items(s) delivery / Year Rate per meal or Sales Realisation (Rs)
delivery (Rs)
1 1 time food ( lunch / 800 100 80000
dinner)
2 1 time snack / 300 50 15000
breakfast
3 3 time food (breakfast 500 200 100000
+ lunch + dinner)

      Total : 195000

(F) RAW MATERIAL (MONTHLY REQUIREMENT)

Sr. No Items(s) Quantity Rate (Rs) Total Value(Rs)

1 stock of edible items 1 3700 3700
such as 10litre oil + 10
kg wheat flour+ 10 kg
rice + 2-3 kg of
gramflour + 1-2 kg of
sooji + all kind of
sauces + all kind of
spices, salt..etc etc

         
         
         3700

(G) UTILITIES - Monthly

Sr. Particulars Expenditure (Rs) Remarks

1 Power/Electricity 2000
 

2 Water 500
 

3 Fuel/LPG 500
 

  3000
Total  

(H) MAN POWER (Salaries/Wages)- Monthly

Sr. Particulars No. Wages/Salaries Annual Expenses (Rs)

per Month (Rs.)
1 Manager 0 0 0
         
2 Skilled ( knows 0 0 0
cooking)
         
3 delivery person 3 3000 36000
         
4 Peon 0 0 0
  To   3000 36000
tal

(I) REPAIRS AND MAINTENANCE- Monthly

   Particulars Amount (Rs)
  Repairs and 200
maintenance

(J) SELLING AND DISTRIBUTION EXPENSES - Monthly

Sr. No Particulars Amount (Rs) Remarks

1 Publicity Expenses 500  

2 Sales Expenses 0  
3 Freight (transportation) 3000  
4 Commission 500  
5 Misc.    
  Total 4000  

(K) ADMINISTRATIVE EXPENSES - Monthly

Sr. Particulars Amount(Rs) Remarks

1 Stationery & Printing 200  

2 Post/Telephone/Fax 0  
3 Guest Entertainment 0  
Expenses
4 Misc. 200  
  Total 400  
(L) INTEREST - Annual@ 14 %

Loan Interest (Rs) Installment (Rs) Balance (Rs)

Amount
(Rs)
22068 3089    
       

(M) DEPRECIATION

Sr. No. Type of Asset Cost of Asset Depreciation Amount

(WDW)
1 Buildings 0 10% 0

2 Equipments 19850 10% 990

3 Furniture 5000 20% 1000

      Total 1990

5. WORKING CAPITAL (one month) / One Cycle

 Sr. No. Item Rs.
1 Raw-Material 3700
 
2 Salary/Labour 3000
 
3 Administrative expenses 400
 
4 Repairs & Maint. exp. 200
 
5 Selling and distribution expenses 4000
 
  Total 11300

6. TOTAL COST OF THE PROJECT

Sr. Particulars Total Value (Rs.)

1 Fixed Capital 26835

2 Working capital ( One 11300
Cycle )
3 Preliminary & Pre- 6000
operative Expenses
  Total 44135

7. MEANS OF FINANCE

Sr. No Particulars Percentage of loan Amount (Rs.)

1 Own Investment 50 22068
2 Term Loan 50 22068
  Total:   44135
8. PROFITABILITY PROJECTIONS

Sr. No. Particulars Amount (Rs.)

1 Annual Sale 195000
Realisation
2 Cost of Manufacturing/  
Servicing
A Annual Working capital 135600
B Annual Interest on loan 3089
C Annual Depreciation 1990
  Total 140679
3 Gross Profit/Loss (1-2) 54321

9.Fixed Cost

Sr. Item Rs.

1 Depreciation 1990
2 Interest on capital 3089
investment
3 40% of wages of staff & 14400
labour
4 40% of expenses 1840
  Total 21319

10. Break-Even Point

Break Even Point = Fixed Cost x 100

 Fixed Cost + Profit

= 2131945
75640

= 28.19 %