Small business plan essay
The business premises is currently being refurbished by the previous owners, however once done, it would be situated in a strategic location within the neighbourhood, with easy access to public transportation and a short distance from the train station. The premises would be designed to suite the coffee shop format, a counter would be situated adjacent to the main entrance, wherein customers can easily place their orders, whilst chairs and tables arranged in various seating formats, would be situated over the rest of the shop.
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The facilities that would be present within the store for it to run smoothly are expressed in Table 3, which also contains a breakdown of the price and the total start-up costs. However, information pack and booklets would be sought form the Healthy and Safety Standards agency within Ealing. The business is required by law to register premises used for food businesses, and strictly follows food safety regulations Ealing, The business would be registered as a Sole Trader business, with me, Enilson Helder, being the sole owner of the business.
How to write a business plan (template): 10 steps, 5 tips, and examples to guide you
All income from the business would be recorded as personal income, and I would be liable for any debts incurred. All profits would be taxed as income. Carbonated and no-calorie soft drinks would also be sold. During lunch periods, particularly between 12pm — 4pm, food menus would exists, cooked particularly by an outsourced chef, who would sell Rice, Chips, Chicken, Mashed Potato, Gravy amongst other lunch time meals.
The services provided would be a hospitality service, wherein customers can come in, have a drink, eat lunch or a snack, and just relax. Sofas, in addition to wooden chairs, would be provided for customers that would like to have a seat with friends, and forget their time within the store. Staff would be friendly and helpful. There are a number of direct competitors within close vicinity to the intended location.
Subway is directly opposite and a Roosters Chicken is close by Google Maps, , both of which could prove a threat for lunchtime meals. They also sell Coffee and Tea, in addition to soft drinks.
Essay on Small Business Plan
The Ealing borough is currently home to over , individuals, with 12, residing in close vicinity of the store. The population of individuals aged 20 — 44, are higher than the UK average. The region has one of the highest levels of international migration within London, and is the 4 th most ethnically diverse, and 6 th most religiously diverse borough within the UK, which in itself is a major attractant.
Therefore the different market segments that exist are based mainly on ethnicity, which is a major dividing factor within the population. The major target market segment is for the general population of commuters working or living around the store. The location is currently on a road in which several buses pass, and houses are located. People living and working within this region, no matter their ethnicity or nationality would be sought as potential customers. We intend to sell a wide vary of ethnically acceptable food for all residents. Meat and Chicken would be halal, but sold in a contemporary and modern fashion.
Meals such as Chips, Chicken, and Mashed Potato would be suitable for everyone, and the Muslim population would appreciate the religious considerations. According to Mintel , coffee shops are always sought after, and due to the scarcity of one in immediate vicinity to the proposed location, then it could be said that there is a need for one. The food products being sold are fresh, which would appeal to people that want to eat good food.
There is room for growth within the UK, as the store density of coffee shops is lesser than that of developed countries such as the US, while the UK still has a low level of coffee consumption compared to other developed countries. Therefore, our products would not be priced too high that it would deter customers; neither would be priced too low that it would be unprofitable. Due to the broad based generic product strategy we are adopting Johnson et al, , we would be adopting a value based pricing strategy, in which the price of each product being offered would be based on how much we believe the customers within this region are willing to pay.
The business would be launched during a public holiday. Most probably a bank holiday weekend or Muslim holiday when most residents would be out shopping or celebrating. As the business is being operated as a sole trade, it would be composed mainly of Enilson, as the store manager and owner. The Staff Supervisor would supervise the rota and ensure that all staff are being friendly and offering the level of service expected.
The table is intended to provide you with a simple format upon which to base your business plan. The format provides you with a framework for presenting your thoughts, ideas and strategies in a logical, consistent and coherent manner. In other words the business plan format helps you to clarify your own ideas and present them clearly to others.
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An Introduction to Business Plans
Playing of amplified music in a tourism establishment. Change of licensee for a tourism operation. Recreational Diving Application. Application for an Outside promotional contact. If you're just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version should be fine. About the only person who doesn't need a business plan is one who's not going into business. You don't need a plan to start a hobby or to moonlight from your regular job.
go here But anybody beginning or extending a venture that will consume significant resources of money, energy or time, and that is expected to return a profit, should take the time to draft some kind of plan. The classic business plan writer is an entrepreneur seeking funds to help start a new venture. Many, many great companies had their starts on paper, in the form of a plan that was used to convince investors to put up the capital necessary to get them under way. Most books on business planning seem to be aimed at these startup business owners.
There's one good reason for that: As the least experienced of the potential plan writers, they're probably most appreciative of the guidance. However, it's a mistake to think that only cash-starved startups need business plans. Business owners find plans useful at all stages of their companies' existence, whether they're seeking financing or trying to figure out how to invest a surplus. Established firms seeking help.
Not all business plans are written by starry-eyed entrepreneurs. Many are written by and for companies that are long past the startup stage. Before beginning the arduous and costly task of trademarking it worldwide, Walker used a business plan complete with sales forecasts to convince big retailers it would be a good idea to promise to carry the goods. It helped make the new venture a winner long before the big day arrived.
These middle-stage enterprises may draft plans to help them find funding for growth just as the startups do, although the amounts they seek may be larger and the investors more willing. They may feel the need for a written plan to help manage an already rapidly growing business. Or a plan may be seen as a valuable tool to be used to convey the mission and prospects of the business to customers, suppliers or others. Plan an Updating Checklist Here are seven reasons to think about updating your business plan. If even just one applies to you, it's time for an update. Business plans tend to have a lot of elements in common, like cash flow projections and marketing plans.
Business Plan Template
And many of them share certain objectives as well, such as raising money or persuading a partner to join the firm. But business plans are not all the same any more than all businesses are. Depending on your business and what you intend to use your plan for, you may need a very different type of business plan from another entrepreneur.
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Plans differ widely in their length, their appearance, the detail of their contents, and the varying emphases they place on different aspects of the business. The reason that plan selection is so important is that it has a powerful effect on the overall impact of your plan. You want your plan to present you and your business in the best, most accurate light.