Sanjay wants to open his(SAM) store where different types of equipments are available for converting tap water into good and healthy drinking water.
Executive Summary
Today in every family approximately 50% of the members are suffering from water borne diseases because of which most of the families started avoiding tap water and using different types of water filter equipments but existing stores are having very less choices in the water filter equipments
In city like ABC there are approx 20000 families which are using filtered water and approx 40000 families still in dilemma which water purifying equipments they should use or try .So our company will give them different choice in equipment and also good knowledge about the products which we will going to import from different cities, states which are good but due to distance they are not able to reach to ABC and we are opening our online portal by the help of which people can order online and free home delivery .The growth rate will be always in inclination and approx store will be able to make profit of $10000 within 6 months
Mission
The mission of SAM store is
->To give customers choices among the different water filters available in the market
->To give customers full technical support and also free home delivery
-> Focus on customers seasonal needs. (like in Summer)
->Online Portal is also available to order online and free assistance from experts.
Keys to Success
SAM store will get success in city ABC because of the following reasons -:
Location
First is the location SAM store is present in the centre of the city and accessible from all the places .The idea is quite new no other store is providing these types of facilities. Most important here the tap water is not good and water borne disease are increasing so people are inclining more towards filtered water
Seasonal Products
In this store we will give different products with some different schemes that will benefit store as well as customers and availabling these products at competitive prices
In Store Expertise
Store will hire experts from the companies who are having good technical knowledge as well as good behaviour that will definately help the store in taking over the market as much as possible
Company Overview
Sam store is offering different services to its customers and trying different approaches to cover market as much as possible .It provides different water filtering equipments, water tanks, RO water, water cans of different companies which are best in country and also good assistance to its customers i.e satisfying customers at every point and store expect that they will be able to make high profits within 6 months.
Company Ownership
Sam Sore is owned by Mr Sanjay Agarwal
Start Up Summary
The Start up cost of Sam Store will consist primarily of display and inventory.
Mr. Sanjay Agarwal wants to invest $ 80,000.
Start Up
Requirements 1000
Legal 0
Stationary 0
Brochures 0
Consultants 0
Hiring 20000
Insurance 0
Rent 3000
Advertising 0
Display Set up 5000
Start Up Inventory50000
Total Expenses 79000
Start Up Assets Needed
Cash Balance on Starting Date 121000
Other Short Term Assets 0
Total Short Term Assets 121000
Long Term Assets 30000
Total Assets 151000
Total Requirements 230000
FUNDING
Mr Sanjay Agarwal 80000
Silent Partner 0
Other 0
Total 80000
Long Term Liabilities 150000
Loss at start up 79000
Total Capital 1000
Total Capital and Liabilities 150000
PRODUCTS
Sam Store will offer some products in its store throughout the year and some are seasonal are as follows
RO WATER CANS PERMANENT
WATER FILTER(AV) PERMANENT
WATER FILTER(BV) PERMANENT
WATER FILTER(CV) PERMANENT
WATER FILTER(CV) PERMANENT
WATER TANK 200 Litre PERMANENT
WATER TANK 100 litre PERMANENT
WATER TANK 500 Litre PERMANENT
WATER TANK 1000 Litre PERMANENT
ICE CREAM CANS TEMPORARY
ICE CREAM BRICKS TEMPORARY
Market Analysis Summary
In city ABC there are very less number of these types of stores which are providing such facilities under a single shed and also the stores which are available here are not having so much of varities available in their stores and also they do not provide home delivery and different schemes during the different seasons.
Market Segmentation
SAM Store will focus mainly on these Customers
Private and Public Students Hostels
Societies
Areas prone to water borne diseasesSchools and Colleges
Hotels and Restaurants
Strategy and Implementation Summary
SAM Store will conduct presentations and dramas which will be played and displayed in different societies, schools, colleges and offices awaring the public about the water borne diseases and then promoting our brand which will be helpful in safe drinking water this will give our store free public relation or we can say publicity which will definitely help the store in getting success and it will also fulfill our social responsibility
Competition
Location
Seasonal Products
Lot of varities are available
Good reputation
Social Responsible
Free Home Delivery
Good Technical Staff
Sales Strategy
Sales strategy is first to create a customer full fill all his needs at as low cost as possible generate leads from him and create new customers by the help of this customers or people of city will have confidence in store and will take over large part of the market as soon as possible and also providing the product that are available with other stores at a very competitive prices
Sales Forecast
2009 approx sales will be of 12000
2010 approx sales will be of 17000
2011 approx sales will be of 25000
Management Summary
Mr. Sanjay Agarwal is an exellent supervisor and will be able to organize his team quite easily and finely
Personal Plan
Sam store will have these members in his store
Manager
Asst Manager
Checkers
Accountant
Supervisor
Technical Staff
Low Grade
FINANCIAL PLAN
This is the Financial Plan of Sam store
Human Capital (staffing): [All assume full-time employment unless noted]
· Management $25,000-$30,000 annual salary
· Part-Time Miscellaneous Staff (4): $10.00 hourly pay
· Fringe: 15% = Approx. additional $4500 annually
Supplies:
· Fresh Water Prep Equipment: $3,000
· Labels and Signage: $1,500
· Seasonal and Theme Schemes: $2,000
· Display Fixtures and Props: $6,500
· Foundations, Elevations, Tables: $7,500
Other:
· Store Rental: $2,000/month ($24,000/year)
· Storage and Transport: $2,500
· Packaging: $5,000
· Administrative & Operations Costs (including website set-up): $7,500
· Advertising: $3,000
· Publications (menus, flyers, business cards, etc): $2,500
Summary
SAM store will provide different varities of water purifying equipments and also better than competitors and having bright prospects in future as well as it will definitely will become No 1 store within short span of 3 to 4 year and also will make huge amount of profit
Monday, April 27, 2009
Tuesday, April 21, 2009
Successful Entrepreneurs must avoid this
As in my last post I told you about three important secrets of the successful entrepreneurs are SMART,GUTS and Luck if the person is having these qualities than he can become successful entrepreneur in his life
But if the person start feeling he is the emperor of the world and develops these characterstics in him such as PERSISTENCE and STUBBORNESS,CONTROLLING INTEREST and TEAM LOYALTY than definately it will hamper his life and hinder the success of his company.
PERSISTENCE and STUBBORNESS
It is right that person should be persistent towards his goal and success of his company but when persistence mixes with stubborness than the problem arises .Stubborness is heaven when it is right but hell when it is wrong .When this mixture comes out than possiblity of getting or taking right decision will be hard .
CONTROLLING INTEREST
During the early stages of company growth entreneurial vision is very important to keep eye on every task that is going on but as a company grows, entrepreneurs need to demonstrate not only that they can do the task but also that they can appropriately delegate. Fast growing businesses quickly move beyond the ability of one person to manage without proper delegation and should show his potential at every point inthe growing company.
TEAM LOYALTY
Loyalty should be there and is culturally important, but it should not be confused with the performance and future needs of the organization. As a start-up becomes a full-fledged business, an entrepreneurial leader has to be prepared to deal with difficult and personnel situations where business decisions need to be made for the interest of the company and not personal or historical reasons.
So Please all the entrepreneurs avoid this in you
But if the person start feeling he is the emperor of the world and develops these characterstics in him such as PERSISTENCE and STUBBORNESS,CONTROLLING INTEREST and TEAM LOYALTY than definately it will hamper his life and hinder the success of his company.
PERSISTENCE and STUBBORNESS
It is right that person should be persistent towards his goal and success of his company but when persistence mixes with stubborness than the problem arises .Stubborness is heaven when it is right but hell when it is wrong .When this mixture comes out than possiblity of getting or taking right decision will be hard .
CONTROLLING INTEREST
During the early stages of company growth entreneurial vision is very important to keep eye on every task that is going on but as a company grows, entrepreneurs need to demonstrate not only that they can do the task but also that they can appropriately delegate. Fast growing businesses quickly move beyond the ability of one person to manage without proper delegation and should show his potential at every point inthe growing company.
TEAM LOYALTY
Loyalty should be there and is culturally important, but it should not be confused with the performance and future needs of the organization. As a start-up becomes a full-fledged business, an entrepreneurial leader has to be prepared to deal with difficult and personnel situations where business decisions need to be made for the interest of the company and not personal or historical reasons.
So Please all the entrepreneurs avoid this in you
Monday, April 20, 2009
Successful Entrepreneurs Secret
Hi friends
Today everyone wants to start their own enterprise and wants to become successful entrepreneur but few reach to that peak and there are three reasons that a entrepreneur's have in their life which makes them happy and successful are Smarts , Guts and Luck .If a person is having all these things in his/her life than he/she can become good entrepreneur in this world.So lets have discussion on them.
SMARTS
Successful Entrepreneur's possesses good understanding, intuition ,emotional and conceptual intelligence thus they can find the solution of the problem quite easily without using much analysis and books and this is themain difference between a CEO and Founder as Founder knows how he can take his company on top and CEO uses or implements the strategies given in the books to get success.
GUTS
Successful entrepreneurs have so much guts that they always ready to take risks in their business and everyone knows that if their is risk their is success and also entrepreneurs never think of the resources that they not having they always think positive and remains happy with the resources that they are possess.Successful entrepreneurs always have passion to be on top of the world and this intiution makes them successful in their life .
LUCK
To be successful in this globe with hard work they also need luck in their life and if a person have ability to work,is smart,have guts and also have luck then he/she can become successful entrepreneur in their life.
So if a person is Smart , have Guts and also have luck with him then no one can stop him in becoming a successful entrepreneur in this world.
BEST OF LUCK
SAMPLE BUSINESS PLAN
This business plan outlines a new food service to the Twin Cities metro area, featuring Southern-Style BBQ and Soul Food dining and catering.
Executive Summary
The Company XYZ is a food service featuring South food and soul food offerings, with a variety of food and service options to meet customer demands. XYZ is based in Delhi, Noida and serves the NCR region metropolitan area, filling a dining niche in this market. XYZ is owned and operated by XYZ
Mr Budhiya, a chef with professional training and experience, including five years with the UDUPI.
Target Market
XYZ aims to serve a variety of Food stuffs. Former clients include corporations, such as ABC Group and the PQR; charitable organizations, such as The Sharper Kids
The personal events and gatherings, such as weddings and holidays. The Southern-style genre fills an untapped niche in the Twin Cities dining market.
Products and Services
XYZ maintains a goal to deliver excellent customer service along with great cuisine. The menu offers delicious, wholesome food as base products, with customizable options per customer demand. The food ranges from plentiful soul food side dishes, homemade desserts, to nutritious options for the healthconscious customer. Services range from food delivery to plating, serving, table or supply rental, as well as cookbooks and pre-packaged meals.
The Competition
No Twin Cities market leaders have emerged in this specific dining niche, offering the same combination of products and services that XYZ provides: Southern-style fool and soul food created by a true Southern raised and trained chef, combined with a thorough service ethic based on southern hospitality and values.
According to the most recent data, the Twin Cities dining market has over 360 uniquely-named and established restaurants, many of which offer catering or outreach services (according to registration with Delhi Authority over 200 grocery
stores or other retail outlets, some of which offer food services (in Delhi and Noida ); and 133
licensed caterers with the State (with hundreds of established but unlicensed catering-only businesses).
Marketing and Sales Strategy
Communicating a message that the company’s top priority is the customer, the sales strategy will be to convert first-time patrons into long-term, repeat customers. XYZ will implement a satisfaction guarantee as a way to reassure customers that their experience is given the highest priority. The company will employ proven marketing strategies, such as well-placed advertising, an informative and attractive web presence, and sales incentives such as punch cards or special bulk pricing. XYZ will ensure customer communication and planning by insisting on personal attention to orders and events.They can also hire any Advertising and Marketing to market their food Chain restaurant
Operations
While the company already has the advantage of owning reliable transportation and common food service supplies, such as tables and dining supplies, to ensure thorough service, a rental agreement with an industrial kitchen will ensure professional preparation and delivery. In addition, through this investment, a specially equipped catering vehicle will be leased if needed for special events.
Management
XYZ has spent the past ten years in the fine cuisine industry, including five years as a chef with
the UDUPI. XYZ has catered prevalent concerts and events, and served as personal chef for many prestigious clients in the Twin Cities metro area. In addition, XYZ has professional culinary education experience and training.
Development
In the future, the company may become a solo commercial dining establishment, in a restaurant-style setting, or expand its products to be sold in grocery or other retail outlets. In addition, the company seeks to support and partner with local charitable organizations through financing and educating of at-risk youth interested in learning the food service trade. This goal may also contribute to the establishment of a charitable arm of the company as well.
Financials
The financial strategy of XYZ's emphasizes reinvestment of income for growth during the first year of operation. It is anticipated that profitability will be reached early in the second year. Annual revenue projectionxfor the first year is approximately $150,000; with 100% increase in the second year. Strict financial control,combined with fiscal efficiencies and cost-saving measures, will be utilized to the fullest extent possible to ensure compliance with these financial strategies.
Funds Sought and Uses
The company is currently seeking $150,000 in investment financing, although with the appropriate collaborative venture, less funding may be needed. These funds will be used for start up and expansion costs, including marketing activities (advertising, website, publications), insurance, hiring new staff, and supplies. In addition to working toward a return on the investment, the company has the goal to support local charitable organizations through financing and educating of at-risk youth interested in learning the food service trade.
Plan Details
Company Description
Company Name and Location: XYZ based out Delhi.
Ownership and Legal Status:XYZ is the owner and operator. Either a corporation or partnership is being sought to create liability protection.
Services: Besides a diverse menu of delicious food, services range from food delivery to plating, serving, table or supply rental, as well as cookbooks and pre-packaged meats. Menu options are entirely flexible and committed to customer design and planning. Options include type of event or meal (breakfast, appetizer-only, sit-down formal, benefit or wedding, etc); health-conscious meals (low-fat, vegetarian, etc.); or type of service (delivery or set-up only; plating and serving included, etc).
Funding to Date and Funds Sought: All funding has been negotiated with the customer, based on food and supply costs. To cover the long-term goal of an established business, this plan seeks to gain one-time set-up costs such as licensure, purchase of kitchen supplies, purchase or lease of delivery vehicle, and advertising establishment. Recurring costs include kitchen rental or lease, on-going advertising, maintenance of delivery vehicle, replacement supplies, and on-going food costs.
Target Market Description
Target Market Location: XYZ’s aims to become an established presence in the greater Twin Cities metropolitan region, focusing special attention to the Delhi downtown area.
Market Size and Trends: A large portion of the market targeted by 'XYZs are minority-owned corporations in the Twin Cities area. In 2002, this market constituted approximately almost 5,000 businesses in Delhi.
XYZ’s aims to cater to a culturally-diverse customer base, while recognizing the appeal of soul food and Southern style to certain clientele, and targeting those customers first. Since this is currently an unfilled niche within the Twin Cities dining culture, it is difficult to estimate whether XYZ’s would fit the marketing trends affecting other catering or dining establishments at this time.
Competitive Analysis
Types of Competition and Edge:
XYZ’s faces competition from a variety of competitors:
· Fast food restaurants
· Catering companies related to established restaurants
· Independent catering companies
· Established dining establishments
· Sandwich shops, cafes, and corporate dining options
· Grocery markets: delis, bakeries, and catering options
As previously noted, the soul food and Southern style specialties of XYZ’s fill an untapped niche in this area. This quality, combined with the outstanding service ethic and quality assurance, represent the competitive edge of XYZ
Barriers to Entry and Future Competition: Foreseeable barriers are the high costs of starting a unique business of this type, while committing to keeping prices low for the customer to reach the most members of the community. Food costs, fuel prices, real estate and vehicle leases, and on-going advertising are all areas where barriers may remain after start up. It is anticipated that other soul food catering or restaurants may be started after XYZ’s starts to fill a niche for culturally dynamic dining. We aim to set the standard high for such establishments.
Marketing Message
To keep costs low, the initial marketing strategy will be to take advantage of free or low-cost advertising, utilizing free print or web placement and personal testimony. As sales increase, more complex and diverse marketing media will be explored. These media include:
· Placement of XYZ formation and menus in major publications,
· Development of television and web-based advertisements,
· Creation of a recognizable logo or brand,
· Entry of XYZ’s products or cooking demonstrations in professional trade shows and contests,
· Invitations to professional critics to review XYZ’s products,
· Interviews and profiles in local media,
· Cooking demonstrations and educational events in local schools or community organizations,
· Presentations to social networking groups,
· Placement of advertising in creative community places of high traffic (such as the airports, public transportation, in library kiosks, or at sporting events),
· Interactive web presence, featuring products, ordering, reservations, and social networking.
The message, however, will remain the same throughout: XYZ’s provides a unique dining experience, unforgettable and professional service, and remains committed to the community by focusing on passing on the knowledge of its experts to youth. Specific advertising costs are addressed below in “Financials.”
Operations Plan
Key Elements of Operations, Advantages and Challenges: To keep costs to a minimum while developing a client base, XYZ’s will operate out of rented restaurant kitchens, as well as personal Kitchens. As sales increase, lease of a professional kitchen will allow for greater ease and efficiency of food preparation. Similarly, in the development phase, personal vehicles and rented equipment will be used. As the business grows, delivery vehicles will be either purchased or leased and professional equipment will be purchased. Cost projections for independent implementation of this plan are addressed below in “Financials.”
Management and Staffing Team
Management Members: Management would be added at the discretion of XYZ, owner.
Future Management and Staffing Needs: In addition to owner and operator XYZ future staffing needs anticipated include: delivery driver, kitchen assistant, business consultant, or personal assistant. Costs of retaining this staffing model are addressed below in “Financials.”
Finance
The figures below represent an independent business venture. If an investment or operational partner is identified, these figures will need adjustment. All costs are based on current market pricing.
Income Statement: Because XYZ's is a true starter business, all current expenses have been personally invested by the owner, with any profits put back into the management of the business. As a result, all finances represented here are indicative of start-up and projected maintenance costs.
Income Statement—Three Year Projection: The first year revenue projection is approximately $150,000. This comes from a market that is ready to try a new product that XYZ’s will provide to the Twin Cities metro area, and specifically, the downtown Delhi locations.
The second year anticipates a 100% increase in revenue as added products and services are introduced. These products include bottled sauce, packaged meat, cakes and pies, as well as personal chef services.
The third year predicts a nationwide roll-out of products and services, concentrating on special events such as sporting events, expositions, concerts, and professional trade shows.
Use of Funds: The following is a list of anticipated costs to be addressed in this independent business plan, based on current market prices. It is not an exhaustive list since unexpected costs may arrive. All costs are estimates and approximate. The estimated costs of start-up for the first year, including full staffing and fringe, is approximately $150,000.
Human Capital (staffing): [All assume full-time employment unless noted]
· Management/Chef: $25,000-$30,000 annual salary
· Part-Time Miscellaneous Staff (4): $10.00 hourly pay
· Fringe: 15% = Approx. additional $4500 annually
Supplies:
· Uniforms and Clothing: $1,500
· Food Prep Equipment: $3,000
· Cookware and Bakeware: $6,000
· Tableware: $5,000
· Labels and Signage: $1,500
· Seasonal and Theme Décor: $2,000
· Display Fixtures and Props: $6,500
· Serving Equipment (Trays, Baskets, etc.): $800
· Foundations, Elevations, Tables: $7,500
Other:
· Kitchen Rental: $2,000/month ($24,000/year)
· Storage and Transport: $2,500
· Packaging: $5,000
· Administrative & Operations Costs (including website set-up): $7,500
· Advertising: $3,000
· Publications (menus, flyers, business cards, etc): $2,500
Summary
XYZ’s is primarily focused on customer satisfaction while supporting the community in a tangible way. XYZ’s fills a niche in the Twin Cities’ food and dining market, while infusing its customers with guaranteed and reliable service and delicious Southern-style food. The Owner and Principal Chef XYZ is confident that his product and services are “a new flavor, a new twist, and a new style,” making XYZ’s not just catering services with excellent food, but a new flavor that will increase demand
Executive Summary
The Company XYZ is a food service featuring South food and soul food offerings, with a variety of food and service options to meet customer demands. XYZ is based in Delhi, Noida and serves the NCR region metropolitan area, filling a dining niche in this market. XYZ is owned and operated by XYZ
Mr Budhiya, a chef with professional training and experience, including five years with the UDUPI.
Target Market
XYZ aims to serve a variety of Food stuffs. Former clients include corporations, such as ABC Group and the PQR; charitable organizations, such as The Sharper Kids
The personal events and gatherings, such as weddings and holidays. The Southern-style genre fills an untapped niche in the Twin Cities dining market.
Products and Services
XYZ maintains a goal to deliver excellent customer service along with great cuisine. The menu offers delicious, wholesome food as base products, with customizable options per customer demand. The food ranges from plentiful soul food side dishes, homemade desserts, to nutritious options for the healthconscious customer. Services range from food delivery to plating, serving, table or supply rental, as well as cookbooks and pre-packaged meals.
The Competition
No Twin Cities market leaders have emerged in this specific dining niche, offering the same combination of products and services that XYZ provides: Southern-style fool and soul food created by a true Southern raised and trained chef, combined with a thorough service ethic based on southern hospitality and values.
According to the most recent data, the Twin Cities dining market has over 360 uniquely-named and established restaurants, many of which offer catering or outreach services (according to registration with Delhi Authority over 200 grocery
stores or other retail outlets, some of which offer food services (in Delhi and Noida ); and 133
licensed caterers with the State (with hundreds of established but unlicensed catering-only businesses).
Marketing and Sales Strategy
Communicating a message that the company’s top priority is the customer, the sales strategy will be to convert first-time patrons into long-term, repeat customers. XYZ will implement a satisfaction guarantee as a way to reassure customers that their experience is given the highest priority. The company will employ proven marketing strategies, such as well-placed advertising, an informative and attractive web presence, and sales incentives such as punch cards or special bulk pricing. XYZ will ensure customer communication and planning by insisting on personal attention to orders and events.They can also hire any Advertising and Marketing to market their food Chain restaurant
Operations
While the company already has the advantage of owning reliable transportation and common food service supplies, such as tables and dining supplies, to ensure thorough service, a rental agreement with an industrial kitchen will ensure professional preparation and delivery. In addition, through this investment, a specially equipped catering vehicle will be leased if needed for special events.
Management
XYZ has spent the past ten years in the fine cuisine industry, including five years as a chef with
the UDUPI. XYZ has catered prevalent concerts and events, and served as personal chef for many prestigious clients in the Twin Cities metro area. In addition, XYZ has professional culinary education experience and training.
Development
In the future, the company may become a solo commercial dining establishment, in a restaurant-style setting, or expand its products to be sold in grocery or other retail outlets. In addition, the company seeks to support and partner with local charitable organizations through financing and educating of at-risk youth interested in learning the food service trade. This goal may also contribute to the establishment of a charitable arm of the company as well.
Financials
The financial strategy of XYZ's emphasizes reinvestment of income for growth during the first year of operation. It is anticipated that profitability will be reached early in the second year. Annual revenue projectionxfor the first year is approximately $150,000; with 100% increase in the second year. Strict financial control,combined with fiscal efficiencies and cost-saving measures, will be utilized to the fullest extent possible to ensure compliance with these financial strategies.
Funds Sought and Uses
The company is currently seeking $150,000 in investment financing, although with the appropriate collaborative venture, less funding may be needed. These funds will be used for start up and expansion costs, including marketing activities (advertising, website, publications), insurance, hiring new staff, and supplies. In addition to working toward a return on the investment, the company has the goal to support local charitable organizations through financing and educating of at-risk youth interested in learning the food service trade.
Plan Details
Company Description
Company Name and Location: XYZ based out Delhi.
Ownership and Legal Status:XYZ is the owner and operator. Either a corporation or partnership is being sought to create liability protection.
Services: Besides a diverse menu of delicious food, services range from food delivery to plating, serving, table or supply rental, as well as cookbooks and pre-packaged meats. Menu options are entirely flexible and committed to customer design and planning. Options include type of event or meal (breakfast, appetizer-only, sit-down formal, benefit or wedding, etc); health-conscious meals (low-fat, vegetarian, etc.); or type of service (delivery or set-up only; plating and serving included, etc).
Funding to Date and Funds Sought: All funding has been negotiated with the customer, based on food and supply costs. To cover the long-term goal of an established business, this plan seeks to gain one-time set-up costs such as licensure, purchase of kitchen supplies, purchase or lease of delivery vehicle, and advertising establishment. Recurring costs include kitchen rental or lease, on-going advertising, maintenance of delivery vehicle, replacement supplies, and on-going food costs.
Target Market Description
Target Market Location: XYZ’s aims to become an established presence in the greater Twin Cities metropolitan region, focusing special attention to the Delhi downtown area.
Market Size and Trends: A large portion of the market targeted by 'XYZs are minority-owned corporations in the Twin Cities area. In 2002, this market constituted approximately almost 5,000 businesses in Delhi.
XYZ’s aims to cater to a culturally-diverse customer base, while recognizing the appeal of soul food and Southern style to certain clientele, and targeting those customers first. Since this is currently an unfilled niche within the Twin Cities dining culture, it is difficult to estimate whether XYZ’s would fit the marketing trends affecting other catering or dining establishments at this time.
Competitive Analysis
Types of Competition and Edge:
XYZ’s faces competition from a variety of competitors:
· Fast food restaurants
· Catering companies related to established restaurants
· Independent catering companies
· Established dining establishments
· Sandwich shops, cafes, and corporate dining options
· Grocery markets: delis, bakeries, and catering options
As previously noted, the soul food and Southern style specialties of XYZ’s fill an untapped niche in this area. This quality, combined with the outstanding service ethic and quality assurance, represent the competitive edge of XYZ
Barriers to Entry and Future Competition: Foreseeable barriers are the high costs of starting a unique business of this type, while committing to keeping prices low for the customer to reach the most members of the community. Food costs, fuel prices, real estate and vehicle leases, and on-going advertising are all areas where barriers may remain after start up. It is anticipated that other soul food catering or restaurants may be started after XYZ’s starts to fill a niche for culturally dynamic dining. We aim to set the standard high for such establishments.
Marketing Message
To keep costs low, the initial marketing strategy will be to take advantage of free or low-cost advertising, utilizing free print or web placement and personal testimony. As sales increase, more complex and diverse marketing media will be explored. These media include:
· Placement of XYZ formation and menus in major publications,
· Development of television and web-based advertisements,
· Creation of a recognizable logo or brand,
· Entry of XYZ’s products or cooking demonstrations in professional trade shows and contests,
· Invitations to professional critics to review XYZ’s products,
· Interviews and profiles in local media,
· Cooking demonstrations and educational events in local schools or community organizations,
· Presentations to social networking groups,
· Placement of advertising in creative community places of high traffic (such as the airports, public transportation, in library kiosks, or at sporting events),
· Interactive web presence, featuring products, ordering, reservations, and social networking.
The message, however, will remain the same throughout: XYZ’s provides a unique dining experience, unforgettable and professional service, and remains committed to the community by focusing on passing on the knowledge of its experts to youth. Specific advertising costs are addressed below in “Financials.”
Operations Plan
Key Elements of Operations, Advantages and Challenges: To keep costs to a minimum while developing a client base, XYZ’s will operate out of rented restaurant kitchens, as well as personal Kitchens. As sales increase, lease of a professional kitchen will allow for greater ease and efficiency of food preparation. Similarly, in the development phase, personal vehicles and rented equipment will be used. As the business grows, delivery vehicles will be either purchased or leased and professional equipment will be purchased. Cost projections for independent implementation of this plan are addressed below in “Financials.”
Management and Staffing Team
Management Members: Management would be added at the discretion of XYZ, owner.
Future Management and Staffing Needs: In addition to owner and operator XYZ future staffing needs anticipated include: delivery driver, kitchen assistant, business consultant, or personal assistant. Costs of retaining this staffing model are addressed below in “Financials.”
Finance
The figures below represent an independent business venture. If an investment or operational partner is identified, these figures will need adjustment. All costs are based on current market pricing.
Income Statement: Because XYZ's is a true starter business, all current expenses have been personally invested by the owner, with any profits put back into the management of the business. As a result, all finances represented here are indicative of start-up and projected maintenance costs.
Income Statement—Three Year Projection: The first year revenue projection is approximately $150,000. This comes from a market that is ready to try a new product that XYZ’s will provide to the Twin Cities metro area, and specifically, the downtown Delhi locations.
The second year anticipates a 100% increase in revenue as added products and services are introduced. These products include bottled sauce, packaged meat, cakes and pies, as well as personal chef services.
The third year predicts a nationwide roll-out of products and services, concentrating on special events such as sporting events, expositions, concerts, and professional trade shows.
Use of Funds: The following is a list of anticipated costs to be addressed in this independent business plan, based on current market prices. It is not an exhaustive list since unexpected costs may arrive. All costs are estimates and approximate. The estimated costs of start-up for the first year, including full staffing and fringe, is approximately $150,000.
Human Capital (staffing): [All assume full-time employment unless noted]
· Management/Chef: $25,000-$30,000 annual salary
· Part-Time Miscellaneous Staff (4): $10.00 hourly pay
· Fringe: 15% = Approx. additional $4500 annually
Supplies:
· Uniforms and Clothing: $1,500
· Food Prep Equipment: $3,000
· Cookware and Bakeware: $6,000
· Tableware: $5,000
· Labels and Signage: $1,500
· Seasonal and Theme Décor: $2,000
· Display Fixtures and Props: $6,500
· Serving Equipment (Trays, Baskets, etc.): $800
· Foundations, Elevations, Tables: $7,500
Other:
· Kitchen Rental: $2,000/month ($24,000/year)
· Storage and Transport: $2,500
· Packaging: $5,000
· Administrative & Operations Costs (including website set-up): $7,500
· Advertising: $3,000
· Publications (menus, flyers, business cards, etc): $2,500
Summary
XYZ’s is primarily focused on customer satisfaction while supporting the community in a tangible way. XYZ’s fills a niche in the Twin Cities’ food and dining market, while infusing its customers with guaranteed and reliable service and delicious Southern-style food. The Owner and Principal Chef XYZ is confident that his product and services are “a new flavor, a new twist, and a new style,” making XYZ’s not just catering services with excellent food, but a new flavor that will increase demand
Need for Business Plan in Starting Business
You are taking awesome decision to start business at this time cashing all the benefits of this time .
But may be you are not having that much finance to start your own business and for finance now youwill be looking to get loan or investment from Venture Capitalist.
To get loan or investment from Venture capitalist they need BUSINESS PLAN of your business which shows that
What you want to do,how you are different from others,who are your target customers and it also helps you in future to focus on your goals that you haven drawn when you started your business.
These are points that a good BUSINESS PLAN must have
1 EXECUTIVE SUMMARY ->Objectives->Mission->Success Key
2 SME's SUMMARY ->Ownership->Services->Location and Facilities
3 SERVICES ->Competetion->Sales Forecast->Services->Future Services
4 MARKET ANALYSIS ->Market Segmentation->Target Market->Service Bus analysis
5 STRATEGY ->Pricing Strategy->Alliances Strategy
6 MANAGEMENT SUMMARY ->Organizational Structure->Mgmt Team->Personal Plan
7 FINANCIAL PLAN ->Break even analysis->Projected Profit And Loss,Cash Flow and Balance Sheet ->Business ratios
If you follow these steps to develop your BUSINESS PLAN it will definately help you in getting investors as well as in future for references of your goals.
Best of Luck
Sample Business Plan will be posted shortly
But may be you are not having that much finance to start your own business and for finance now youwill be looking to get loan or investment from Venture Capitalist.
To get loan or investment from Venture capitalist they need BUSINESS PLAN of your business which shows that
What you want to do,how you are different from others,who are your target customers and it also helps you in future to focus on your goals that you haven drawn when you started your business.
These are points that a good BUSINESS PLAN must have
1 EXECUTIVE SUMMARY ->Objectives->Mission->Success Key
2 SME's SUMMARY ->Ownership->Services->Location and Facilities
3 SERVICES ->Competetion->Sales Forecast->Services->Future Services
4 MARKET ANALYSIS ->Market Segmentation->Target Market->Service Bus analysis
5 STRATEGY ->Pricing Strategy->Alliances Strategy
6 MANAGEMENT SUMMARY ->Organizational Structure->Mgmt Team->Personal Plan
7 FINANCIAL PLAN ->Break even analysis->Projected Profit And Loss,Cash Flow and Balance Sheet ->Business ratios
If you follow these steps to develop your BUSINESS PLAN it will definately help you in getting investors as well as in future for references of your goals.
Best of Luck
Sample Business Plan will be posted shortly
New Business Ideas
In this Recession people who want to start their own business should invest their money in those sectors where recession hits very less and where there is any possibilty of making profit in future as well as at this time because in hitted areas there is less hope for sucess in near future.
Some sectors where you can invest your money but some innovation should be their which is different from others players of the sector
Education such as training institute
FMCG
Telecom such as franchisee of any telecom operator
Medicines
Power Corporation
Energy Resources
Renewable sources of energy
Food
Water Usage such as bottling plant
All these sectors are least hitted by recession so we can find some innovation in these sectors where improvement or new development is awaited and can make money and can also benefit society.
Some sectors where you can invest your money but some innovation should be their which is different from others players of the sector
Education such as training institute
FMCG
Telecom such as franchisee of any telecom operator
Medicines
Power Corporation
Energy Resources
Renewable sources of energy
Food
Water Usage such as bottling plant
All these sectors are least hitted by recession so we can find some innovation in these sectors where improvement or new development is awaited and can make money and can also benefit society.
Small Scale Industry
In this global turn moil when everywhere lot of chaos among people are their who are losing their Jobs , becoming bankkrupt ,no savings ,countries are losing their govt and becoming ban krupt ,big companies are becoming bankkrupt,everyone is losing their confidence and trust on each other at this time people are developing negative atitude towards everything and also degradation in their health.
At this time you can become captain and help the ship to come out of these high tides and help your followers to bring them out of their misery condition if you have some new and innovative business idea you must implement it at this time it will definately it will help you in making profits and also it will add in your account as social responsibilty.
As it will brings benefits to you and others as
-> Cheap Labour having good talent
-> Cheap Infrastructure
-> Funds from Govt and Venture Capitalist
-> Free Public relation
-> Provide work to people
-> Good and cheap transportation
-> Tax to govt and decrease the load of unemployement.
and many more
So Starting business at this time is most beneficial and helpful for the society and for u also
So best of Luck
At this time you can become captain and help the ship to come out of these high tides and help your followers to bring them out of their misery condition if you have some new and innovative business idea you must implement it at this time it will definately it will help you in making profits and also it will add in your account as social responsibilty.
As it will brings benefits to you and others as
-> Cheap Labour having good talent
-> Cheap Infrastructure
-> Funds from Govt and Venture Capitalist
-> Free Public relation
-> Provide work to people
-> Good and cheap transportation
-> Tax to govt and decrease the load of unemployement.
and many more
So Starting business at this time is most beneficial and helpful for the society and for u also
So best of Luck
Subscribe to:
Comments (Atom)
