Create New Business Mini Business Plan Business Plan

Excerpt from Business Plan :

Equipment Needed

Market Analysis

Situational Analysis

Target Market

Segmentation

Geographical Segmentation

Demographic Segmentation

Market Targeting

Differentiation and Positioning

Strengths and Weaknesses of Venture

Market Opportunities and Threats

Competitor Analysis

Management Plan

Founders Experience

Organizational Chart

Financial Plan

Project Investment

Startup Costs

Essentials of financial Plan

Pro forma income statement

Pro forma Balance Sheet

Assessment of Risk

External risks

Financial Risk

Contingency Plan

Production Plan

Manufacturing Process

Machinery & Equipment

Equipment Required

Operational Plan

General Operating Hours

Flow of order for goods and services

Layout

Human Resource

Technology utilization

Abstract

The paper is a business plan for a new business which is aimed to create a new product in the U.S. market. The paper discusses the various aspects of the business plan. It includes the market analysis, operational plan, marketing plan, financial plan and the risks associated with the business.

Executive Summary

I would like to introduce the readers to the business plan of a pop up kitchen. The name of the company would be Pop-up Kitchen and Supplies, which is self explanatory of the business. The company will be initially located in Hawaii and will operate from home, after a while it is planned to achieve growth and will expand into different states.

The company will go ahead with its operations as soon as it gets its finances through owner's equity and bank borrowings which will take about 2 months of processing to register the business. The company will operate as a sole proprietorship. The business will be based on a B2B model as its customers would be businesses that are operating in the food business.

The business will provide its customers with a unique channel to operate in and will provide them an opportunity to test out their products in a completely new market without incurring many costs. As the costs of the food business are rising it is hard for the food and beverage businesses to expand. Expansion requires big budgets and the risk associated with the failure of expansion have limited the number of expansions in the past few years. This situation provides a unique opportunity to establish a pop up kitchen which can solve the problems of food businesses. The potential for the business is enormous.

Introduction

Name and Address of Business

The name of the business will be kept viewing the present business scenario. There are many companies that are operating in the same category. However the nature of the business is entirely different from any other current business. "Pop-UP Kitchen and Supplies" will be the name of the business; the name clearly tells what the business is all about.

The business will be setup in Hawaii on a small scale from home. After establishing the business from home it will be gradually expanded in different states through acquiring property in prime locations for the business.

Web Address:

www.P-upkitchen.com

Nature of Business

The business is centered on the idea of pop-up kitchen. The company will provide its customers with a pop up kitchen along with all the necessary kitchen supplies. The business will basically cater the new entrants in the food business who wants to try out their product on a small scale to reduce the risk of failures.

Statement of financing needed

Initial project investment is estimated at $10,500. Out of this amount, $3,500 would be the personal equity of the partners while $7,000 would be financed through a 5-year debt secured by the business and personal assets of the partners in equal proportion.

Statement of Confidentiality of report

This report is confidential and is the property of the owners. It is intended for use only by the person to whom it is transmitted and any reproduction or divulgence of any of its contents without the prior written consent of the company is prohibited.

Mission

Pop-UP Kitchen and Supplies will provide a great opportunity for its customers to lower their costs and provide a new channel for business which was non-existent before.

Product

"Pop-UP Kitchen and Supplies" provides portable kitchens with all the required kitchen supplies. It is a new and an impressive way of capturing the target market by providing a unique opportunity. The product will be based on remodeled shipping container which will carry all the necessary kitchen supplies. It will basically t the new food businesses (including the beverage businesses) which are entitled to use pop up kitchen initially in their business to test a particular market. The trial will enable them to try their products in a market and then launch their restaurant with a better understanding of the market. Our company will reduce their risks by providing them a platform to have a trial of their product.

The business will also cater to those food business that want to operate from abroad on a small scale just to promote their traditional food or cater to the overseas population of their country living in United States. Through the pop kitchen such businesses will not have to make heavy investments in order to fulfill their objectives.

Location

The business will be setup in Hawaii on a small scale from home. After establishing the business from home it will be gradually expanded in different states through acquiring property in prime locations for the business.

Equipment Needed:

A detailed description of the equipment required is given in the production plan. Pop up Kitchen equipment will include:

1. Shipping Containers

2. Kitchen equipment

3. Decorations

4. Crockery

5. Other equipments (such as electrical appliances on additional costs)

Market Analysis

Situational Analysis:

The food and beverage business is highly popular in United States. The major sources of new innovation in this industry are the international fast food chains and small scale food businesses. Many local chains have developed around the main states to compete with international chains and provide menu items that appeal to the unique regional tastes and habits.

The rapid rate at which the food industry continues to add outlets is as much a reflection of consumer demand for convenience as it is a reflection of demand for food itself. Expanding the number of outlets increases accessibility, thus making it more convenient for consumers to purchase a variety of food. The growing food business provides a great opportunity to our pop up kitchen business.

Target Market:

As far as targeting the marketing is concerned, this is divided into four steps:

1. Segmentation

2. Targeting

3. Differentiation

4. Positioning

Segmentation

Pop up Kitchen and Supplies has segmented the heterogeneous market on the basis of Geographic and Demographics features.

Geographical Segmentation

We plan to open our operations in Hawaii initially. Since it's a new venture, we plan to focus on online order and later when the business gains popularity, then we'll open it in other states as well.

Demographic Segmentation

Prices will be also charged for the unique services we provide. So, our target market will be the new food businesses and those food and beverage businesses that are in their expansion phases.

Market Targeting

Pop up Kitchen and Supplies will be interested in segments that have the right size and growth characteristics.

Differentiation and Positioning

Pop up Kitchen and Supplies promises to provide convenience and cost reduction for its customer which will give them an entirely new opportunity for business.

Strengths and Weaknesses of Venture

Strengths

The main strength is its idea itself.

Strong relationships with vendors that offer high-quality products and fast/frequent delivery schedules.

High-quality customized offerings that exceed competitor's offerings in quality, presentation, and price.

Close to the target market.

Weaknesses

Too dependent on the idea

There is limited finance capital available for the business

Market Opportunities and Threats:

Currently we are opening our business in Hawaii. If it turns out to be a success, then we have an opportunity to open our business in other states as well.

Some important threats are:

Competition from other new businesses with superior offerings.

A slump in the economy reducing customer's disposable income spent on eating out.

Competitor Analysis:

Pop up Kitchen and Supplies does not have any direct competition because there aren't any customized pop up kitchen manufacturers with the kitchen supplies. However, Pop up Kitchen and Supplies does face indirect competition from Food on Meals and Meal on Wheels because both of these cater to similar situations.

Marketing Objectives and Goals:

For the purpose of this business plan we have set the following intermediate marketing objectives for the first 12 quarters after the commencement of business,

1) Generate a minimum of $4,000 profit in each quarter.

2) To attract as many as possible, new customers and develop long-term customers from adjoining areas.

3) Use digital social media extensively to engage potential customers in conversations about the business.

Marketing Strategy:

Product:

1) Quality: Quality containers and kitchen supplies will be the basis of the business.

2) Product style & design: This refers to the outlook and decor of containers. The decor of both exterior and interior would be customized according to the needs of customers. Some general patterns will be also available at lower…

Cite This Business Plan:

"Create New Business Mini Business Plan" (2012, December 08) Retrieved June 20, 2017, from
http://www.paperdue.com/essay/create-new-business-mini-plan-106038

"Create New Business Mini Business Plan" 08 December 2012. Web.20 June. 2017. <
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"Create New Business Mini Business Plan", 08 December 2012, Accessed.20 June. 2017,
http://www.paperdue.com/essay/create-new-business-mini-plan-106038