Business Plan
Essay Preview: Business Plan
Report this essay
Contents
Introduction into the business.
Secondary research into the market.
The marketing mix.
Startup and operating costs of the business.
Financial aspects
Conclusions and recommendations
Bibliography
Mission Statement
“First choice for internet access and food delivering value through excellence in design and quality”.
MARKETING OBJECTIVES
The aims of marketing aims are to get my company into a high status when compared with other major Internet cafes.
The main aims for marketing are
To gain a 15% market share though out the whole market share
To maintain a good image and is known for outstanding services
Receive a solid customer base and therefore this will help me gain 15% of the market as above.
When received the market share I want, expand the company and purchase lots more equipment
Obviously my main objective is to receive a 15% of the market because if this is achieved then I will be able to achieve all other goals and therefore better my services and buy more equipment. If I can also get more advertising then I will improve sales and market share.
Introduction into the business
1.1 Research
1.2 Methodology
1.3 Target market
1.4 Requirements for chosen business
Following analysis of my local area, Nottingham, businesses such as cafes, restaurants and cafД© bars are very popular and on the increase due to high demand. I have taken time to visit the Official Nottingham web site and found that there are 12 cafes, 21 restaurants but only 1 Internet CafД© in the city centre of Nottingham. Therefore I think there is a gap in the market for a second Internet CafД© and it is here that I will base my project.
In today’s competitive environment companies look for original and exciting ways to stand out in a crowd. As technology speeds ahead, InternetCafĩs offer new products to provide customers with the best Internet and computer technology. Customers can surf the Internet while they snack and relax.
After much consideration the chosen name for the cafĩ is �Hot Gossip Internet Cafe’ I chose this name because it is an interesting name and it is also a name that is easy to remember for customers.
Now that I have identified a business opportunity I will find a suitable location and begin consumer research to see how successful an InternetCafД© in Nottingham will be.
If there is demand I will look at past sales figures of other InternetCafes to get some idea of their success, I will also conduct advertising and promotion to make the public aware of the InternetCafД© by adverts and flyers. Staff will needed to be organised by calculating how many staff will be needed per day and advertising for positions which will lead to interviews and training. Prices and costs of stock, wages and overall running of the business will need to be estimated using past sales figures. I will need to assess if there is a good future for the business and if it is worth proceeding with the venture.
The service will be aimed at mostly students and business people, as it is those types of people who usually take an interest in computers, if not for work purposes, for pleasure. The service will give people the chance to work in an environment that not only offers help and assistance but gives them the chance to enjoy tasty food and drink also. The environment will be more of a working one than a social one, as most customers will need concentration and distractions such as music could result in loss of customers.
To broaden my target market I will make it possible for customers who are not as interested in computers to visit for food/drink purposes only. It will offer a quiet, relaxing place for people to come and unwind. This would help me appeal to older customers.
The start up of an InternetCafД© involves putting together two very different areas of business. A strong knowledge of computers, the Internet and new technology is crucial, as is an understanding of the catering business, customer service and customer satisfaction. If less skilful areas within work schedules can be delegated the business will have a good chance of survival.
Both managers and employees need experience in organisation and communication but also technical factors, as a lot of responsibility is involved in the running of a business. Managers especially need knowledge of business accounts or the process of supplying them to an accountant who will do things such as forecast cash flow and profit and loss. Recruitment is also an important part of a business as the process of interviews and choosing the correct candidates for positions could be a factor that determines whether customers will return and the success of the venture.
Secondary research into the market
2.1 Research into eating out
2.2 Sales forecast
2.3 Summary
2.4 Competition
2.5 Map
Using a book called Regional Trends 2004 I found some government data highlighting that in 2001-2002 the amount of money spent on eating out in Nottingham was ÐЈ5.96 per person per week. The figures are not very recent which is a disadvantage but it is the most recent figures available. However, it still applies for an average for the Nottingham area.