Business creation and management

Task
Part 1 : You must create a complete business with a clear idea of what product/service you will offer to the market, and what specific market gap and consumer needs your business will address. You must also justify why you think your product will sell. Detailed description of new business/startup, and specific product and/or service. Justification of market need for product or service, and why new business/startup will meet an important market need. Identifies and justifies choice of target market for new business/startup

Part 2 : Our business will be a completely vegan burger place with all types of mock meat. That serves all types of burgers, tacos and hotdogs but with completely vegan meat. We will serve burgers that imitate meat eaters favourite foods, for example McDonalds, KFC, Burger King and Taco Bell. However, vegetarianism and veganism is growing rapidly in Australia, mainly due to the effect the meat industry is having on our planet and environment. In fact, a recent survey by Roy Morgan Research discovered that almost 2.1 million Australians actually choose to eat meat-free and, according to data found using Google Trends, Aussies are placing importance on learning about vegan values than they are about keto and Paleo diets. “People everywhere are excited about vegan food,” says Mo Wyse, co-founder of vegan restaurant Smith & Daughters in Melbourne.
The reason we want to open a business such as this is due to the fact that the up and coming generations and in particular, Millennials are extremely invested in doing what they can to contribute to making the world a better place. Millennials have been the ones to kill Buffalo Wild Wings, they are having less kids, buying less homes and are spending huge amounts of money on avocados and their dogs. However, they are the driving force behind the global shift away from meat. There is now a colossal demand for plant-based foods, and a big shift in the values of our younger generations. This is our gap in the market because there is very little fast food that is vegan, it’s all mostly salad at the moment. This is causing people to not want to be vegan or vegetarian, however it is much better for our animals, environment and planet that people have easy access to delicious, new plant-based foods. The reason for choosing fast food in particular is to allow meat eaters to buy our vegan burgers, in a fast and quick manner. Our vegan meat will taste exactly like meat, but without the consequence of actually cooking meat. The meat eaters will be able to taste our burgers and possibly make the switch to vegan food. While millennials may boast a larger percentage of self-identified vegetarians and vegans than any other generation, recent studies reveal that Gen Z might be even more into vegan food.
Our business will employ 40 people to begin with, and will be based in Melbourne CBD as from research we have found that is where most vegan café’s are. All food will be completely vegan and there will be no meat options.
Part 3: Using the CBBE pyramid, you must then analyze the source of brand equity of the two main competitors in the industry that your new business will operate in. Concludes report with assessment of new business/startup’s market success prospects, based on CBBE analysis of competitors. Provides at least 3 possible ideas that the new business/startup can adopt to take advantage of weaknesses in competitors’s CBBE.

business name is : focus on expand vegan burger range , ( we are selling vegan burger , therefore need to produce premium burger and our cost isn’t cheap as well )
analysis two main competitor : McDonalds in Australia , and Grill’d – please see this website provided (https://www.grilld.com.au )
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