Introduction
` In this part, proper bifurcation of the business functioning of newly established business has been taken into consideration. The newly established business name is Lucky café which is incorporate to sell all kind of foods and beverage products in Australia.
Business philosophy
The main philosophy of business is to provide the best quality of food and beverage products to clients with a view to increase their satisfaction level.
Product Service and description
The company name of the newly established business would be Lucky café which would offer all kind of foods and beverage products and services to clients in Australia through the restaurant chain. The special offer which would be made by company is Latte drink. This product has been chosen due to its high demand in Australia. Company has expected to sell following products units in the upcoming months (Conway, 2013).
|
Particular |
1st month orders |
2nd Month orders |
Next coming months orders |
|
Coffee |
100 |
150 |
200 |
|
Mock tails |
150 |
180 |
250 |
|
Foods and beverages |
200 |
250 |
300 |
|
Other items |
100 |
150 |
200 |
Consumer benefits
Why product is successful
This product has been chosen due to its high demand in Australia. The customized products and offers will attract high number of clients in market.
Retail price of the products in market
|
Particular |
Prices (AUD $) |
|
Coffee |
1.5 |
|
Mock tails |
.6 |
|
Foods and beverages |
2.5 and above( Depends on the categories) |
|
Other items |
3 and above ( Depends on the categories) |
Self-analysis
I have good experience of running food and beverage business in Australia. In addition to this, I have observed all the values, belief, perception of clients in Australia which will help me to offer customized products and services in Australia. I have also good team of employees who could corporate me to implement proper business. I would use cyber computing enterprises resources planning to run this food and beverage business in Australia (Boshyk, 2016).
Marketing research
Geographical area of business
The lucky café business would be established near to malls and crowded place. However, the main focus of lucky café would be on couples and students who are very frequent in vising restaurants and coffee shops. These customers could be grasped through its online marketing and off line marketing’s. In Australia more than 2 million people are youngsters who are more inclined towards grasping more clients in marketing (Finch, 2016).
Demographics data
The main clients of Lucky Café are the college going and couples who are very inclined towards visiting restaurant. The age group of people starting from 17 years to 42 years are will be more attracted toward the business In addition to this, income status of people having more than AUD $ 7000 and above will be the prime customers of company. Furthermore, couples and newly wedded couples will also be considered while customizing the products and services of company.
Primary research
The main research which would be used by Lucky café to collect the quantitative and qualitative data would be money survey. This survey would be used through the cyber computing mechanism to attract clients through online portal. This will increase the overall output and customization of the products and services. The main data would be what kind of products and services clients want in market. Lucky café could use these data with a view to customize its good and services.
Competition in market
Direct competition
There are several rivals who have developed core competency in product differentiation and cost leadership strategy. However, Star bucks and Dunkin Donuts who have strong brand image and offering best quality of coffee and other products. However, lucky café by using cost leadership strategy and innovative technologies in its business could increase its overall business productivity and efficiency of the business (Goi, 2015).
Indirect completion
It is observed that companies such as Jemidee and Byron Bay Tea Company have been selling best quality of tea to its clients to use their disposable income in positive manner. However, if Lucky café wants to decrease this competition then it will have to keep all of products price low as compared to its substitute products sold in market.
Market segment analysis
The main target of the company is people near to malls, school and church. It is considered that if these people are offered attractive offers and best quality products and services then they could be permanent clients for the company. In addition to this, people having earning more than AUD $ 7000 and above will be the prime customers of company. This level of business functioning will increase the overall outcome and efficiency of the business. These customers will be more attracted towards the foods and beverage offered by Lucky café due to its high quality of products and services and cheap rate as compared to other rivals in market (Johnston and Bate, 2013.).
Analysis of potential location
The main location of products and services sold in the market would be near to malls, school and church due to the crowded place. However, in order to start up restaurant business, promoters needs to hire a new place at least 1000 square fit in which they could establish proper ambience for their clients. This new restaurant will be started in recognized mall in Australia. This restaurant business will be operated from 8 am to 10pm throughout the time. However, Tuesday will be off due to less customer’s appearance in restaurant. In addition to this, underground of the mall have been taken for rent for the parking of clients. Clients could grasp our products and services through their visit or online channel established for their convince. The mall area is highly secure by the sensors and armed guards. Nonetheless, there is tough completion in mall as already there are so many coffee products sellers which could pose tough completion to Lucky café.
Organizational and personal plan
Ownership choice
This lucky café would be small private company which will be accompanied by 2 owners. Incorporation of small private company has been chosen due to less complexity and less corporate governance (Mohd, Idris and Momani, 2013).
Personnel needs
There will be 40 staff in the Lucky café. 10 members would work in kitchen and 3 members will be at the front office to attend the clients and their billing. In addition to this, 2 staffs would be indulged in cyber computing online marketing of company. Rest employees would check supply of raw materials and build the client relation in effective manner. Each and every employee would be instructed by his line manager and they will report to their line manager.
Hiring strategy
Lucky café has planned to adopt cyber computing enterprises resources planning in its business. This will help company to hire employees through its online dashboard. Experienced employees could be hired in Lucky café by offering them the loyalty bonus apart from their salary (Boshyk, 2016).
Marketing plan
Product Service and description
Lucky café would offer all kind of foods and beverage products and services to clients in Australia through the restaurant chain. The special offer which would be made by company is Latte drink.
Mark up to cover cost
Proposed pricing policy
There will be estimated profit around AUD $ 400K on yearly basis. Lucky café has planned to sell all of its Latte and other drinks at no profit no cost. This point could be described as BEP points.
|
Particular |
Cost per units (AUD$) |
Profit estimated |
Sells price |
|
Coffee |
12 |
10% |
13.2 |
|
Mock tails |
15 |
10% |
16.5 |
|
Foods and beverages |
20 |
10% |
22 |
|
Other items |
10 |
10% |
11 |
The relation of Lucky café with its rivals is tough. However, initially its product and services will be kept below the standards of rivals offering.
The main introductory discount to clients would be 20% off on their total bill.
The main strategy is to increase the brand image and less inclined towards driving profit from the business.
Proposed promotional plan
The proposed promotional plan would be done through the online channels and personal promotion. This personal promotion would be done by 20 sales employees. In addition to this, short term promotion would be done through seminars and online monkey survey.
Place
The restaurant will be full of colour and ambience will be highly sophisticated to attract high number of clients. However, each and every month the theme of restaurant would be changed to make it more appealing to clients.
Distribution plan
The main distribution plan is to incorporate new restaurant chain and sell the products and services to its clients through its online portal. This distribution plan is based on the efficiency of the company.
Financial plan
It is the income statement of Lucky café for all the production of beverage products.
|
Lucky Café |
|||
|
Profit and Loss Statement |
|||
|
For the Period ended Year One |
|||
|
Income |
|||
|
Sales |
52000 |
( 1,000 coffee units @ $ 52 each) |
|
|
Total Sales |
52000 |
||
|
Cost of Goods Sold |
|||
|
Opening Stock |
$ – |
||
|
Stock Purchases |
34320 |
||
|
Less Closing Stock |
3120 |
||
|
Total Cost of Goods Sold(COGS) |
31200 |
( See note below) |
|
|
Gross Profit |
20800 |
||
|
Expenses |
|||
|
Advertising |
500 |
||
|
Bank Service Charges |
120 |
||
|
Insurance |
500 |
||
|
Payroll |
13000 |
||
|
Professional Fees (Legal, Accounting) |
200 |
||
|
Utilities & Telephone |
800 |
||
|
Other: Computer Software |
480 |
||
|
Expenses total |
15600 |
||
|
Net Profit before Tax |
5200 |
||
|
Note; Cost of Goods Sold calculation: |
|||
|
Lucky café s Calculation |
|||
|
Opening Stock Nil |
|||
|
Add Stock Purchased during the year |
$34,320 |
(1100 units @ 31.20 each) |
|
|
Equals Stock available to sell |
$34,320 |
||
|
Less Stock on hand at end of year |
$3,120 |
(100 Units @ 31.20 each) |
|
|
Cost of Goods Sold |
$31,200 |
||
(Fernandes, Ferreira and Moura, 2016).
References
Boshyk, Y. ed., 2016. Business driven action learning: Global best practices. Springer.
Conway, J.B., 2013. A course in functional analysis (Vol. 96). Springer Science & Business Media.
Fernandes, C., Ferreira, M. and Moura, F., 2016. PPPs—True Financial Costs and Hidden Returns. Transport Reviews, 36(2), pp.207-227.
Finch, B. 2016. How to write a business plan. Kogan Page Publishers.
Goi, C.L., 2015. Marketing Mix: A review of’P’. The Journal of Internet Banking and Commerce, 2005.
Johnston, R.E. and Bate, J.D., 2013. The power of strategy innovation: a new way of linking creativity and strategic planning to discover great business opportunities. AMACOM Div American Mgmt Assn.
Mohd, W., Idris, S. and Momani, R.A., 2013. Impact of environmental dynamism on marketing strategy comprehensiveness and organizational performance. International Journal of Business and Management, 8(9), p.40
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