Company description: Our company provides a pop-up buffet service and food consultancy targeted at young professionals, which makes it easy to provide tasty and affordable meals for events.

Write approximately 1,250-1,500 words explaining the company's growth strategy, as well as product development and competitive strategy.

Since the entrepreneurship idea is a service targeted at young professionals, as opposed to a product, also explain the service's competitive strategy.

Competitive Business and Growth Strategy

How is the company going to compete in the market?

Briefly introduce the reader to the industry context of the business. This section should be brief and highlight the main facts and developments.

Present the current status and prospects for the industry in which the proposed business will operate.

• Where does the business intend to position itself in the industry environment (e.g. the value chain), and why have you chosen this position?

• Business model: Will the business compete on price, service, quality, convenience, new features and benefits, by targeting a very specific area of the market (niche), etc? How is this difference compelling to the target customer/buyer and/or to other key stakeholders?

• Protection: outline any intellectual property strategy or otherwise explain how the business will acquire and protect market share.

• Growth: How do you envision upscaling from your first target segment(s) to additional ones?

• Are there any strategic challenges posed by the industry, and how does the company intend to address them?

• Describe briefly any competing products, new entrants or exits, regulatory issues, trends or new developments that could affect the business either positively or negatively.

Product Development

Describe the nature and extent of any design and development work and the time and money required before your product or service becomes marketable.

Design and development might be the engineering work necessary to convert a laboratory prototype to a finished product; the design of special tooling; the work of an industrial designer to make a product more attractive and sellable; or the identification and organization of employees, equipment, and special techniques, such as equipment, new computer software, and skills required for computerized credit checking, to implement a service business.

• Describe the current status of each product or service and explain what remains to be done to make it marketable.

• Describe briefly the competence or expertise that your company has or will require to complete this development.

• List any customers or end-users that are participating in the development, design, and/or testing of the product or service. Indicate results to date or when results are expected.

• Outline the budgeted costs of development work, including labour. materials, fees and so on.

• Identify any major anticipated design and development risks and define approaches to their solution.

Company description: Our company provides a pop-up buffet service a...