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MN5F12AE Portfolio Assignment Level 4

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Introduction

Identification of a good business idea is important as the possibilities of achieving desired results increase if the selection of right option is made. Proper market research should have been done so that it can be evaluated that what opportunities are available in the market and how they can be used in order to a new business with (Breuer, 2013). There are different external an internal factor which has their impact on the daily operations of business. Special meal is a new small scale food truck which will be placed near university in order to attract more and more students. As it is a fresh brand for customers it is important that proper attention is given to the quality of services and effective budget is made so that maximization of profit can be done. The following report will talk about how this business idea may get influenced by other elements and will also put light upon how launching should be done as it has long term effect on customers.

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Task 1

Part 1

With an increases in resources people are more attracted towards carrying out their own business instead of working under some other authority. It is due to the fact that there are more chances of earning higher revenues and long term benefits can be enjoyed once the idea gets successfully effective in market. These days’ demand in food and beverages has raised much and is found to be a good option to invest in. Special meal food truck will be set up near the university as there the number of potential customers is high and there are less chances of failure. Trends of having junk food is high among students and they can be easily attracted towards same (Chen, 2013). As the young generation is very sensitive with price and quality of whatever they use it is crucial that the menu card for the food truck is decided with much care. Good standard food needs to be maintained as this helps in raising total number of permanent clients. Selected idea can be referred as most favorable to start business with as number of students always rise in university and there are good number of students who lives in hostel at the same location which shows that business will not experience less demand at least due to non-availability of

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