Tonis Coffee Emporium - Business Plan Example

Executive Summary Toni’s Coffee Emporium is one of a kind coffee shop located near Camden market. The Emporium is very busy and serves many visitors mainly tourists from different parts of the world. Its strategic location is one that provides it with one of the ideal position in the industry, hence the need to expand it to meet the growing demands within its locality. The only way this will happen is by creating new stations where people can access freshly baked cakes and homemade coffee continently. The owners, Toni and John had a wide range of ideas on what to do to lift the shop’s ability across the divide. The goal is to create and enhance its ability to meet its goals within a period of three years. One of the main strengths in the emporium is the freshly baked cakes, which are invited to those around. The freshly cooked coffee also attracts several customers. The owners have vast knowledge in the industry sector and have ideas on how to grow the resources to fit the shop’s potential. The opportunities are vast as well and mainly mirror the growing need for coffee consumption in the society today. The investment will boost the company’s resources, open up more shops and improve on the available assets to meet its profitability needs within the shortest period. Mission and Vision Statement To market Toni’s coffee emporium, the mission and vision statements must appeal to the clients as well as the tourists within the area. The aim is to allow them to feel at home while dining at the café because the café provides so much for the sake of meeting the critical attributes of the café industry. The best mission statement is “To ensure that all clients receive professional, prompt, and courteous services alongside delicious, healthy and remarkable foods and drinks.” To accomplish this mission, the café will work on using all available resources to boost its workforce and expand its services to reach to more people across the country. This will also involve getting more employees who share in the same mission and enhance the way the shareholders participate in making this a dream come true the idea is to create new ways of partnering with the community and contributing to their health more each day. The café’s mission will be: “to become a brand where the signature coffee produced at the café become a specialty for everyone, allowing an approachable and affordable lifestyle for anyone wishing to have a drink at the café.” The vision will be supported by objectives and the marketing used to achieve the main demands of the society as a whole. The idea is to provide the best and offer so much more by having the best teamwork towards meeting the core needs of the clients while boosting the company’s image across the divide. This will also involving shifting the customer’s perception of this café from a coffee place to a specialty coffee place where one can bring the whole family to enjoy finely brewed and freshly baked cakes. Market and Competitor Analysis Notably, the changing tourism industry is changing the hospitality industry trends as well. Located at a busy tourist market in Camden, Toni’s Coffee Emporium has a chance of benefitting from this changing trend. Currently, the estimated coffee outlets in the UK alone stand at 16,501 outlets as of January 2014. This shows that the people in the UK have realised the impact coffee has in their lives and the best way is to capitalise on this increase to differentiate the product from the rest of the competitors. In 2013, the sector had a £6.2 billion turnover with a 6.4% growth in sales alone (Young 2014). The potential in this sector is high and capitalising on it right now will be the best investment made by the café. The coffee shop phenomenon in the UK has had a 15-year growth period that has made it easier to meet the core demands of the society as well as boost the employment rates in so many people. It has created new means of bring people to the shop and serving them coffee rather than have them make it at home (Young 2014). The main competitors in the coffee shop sector are branded names such as Costa Coffee, Starbucks coffee company, and Caffe` Nero. They have 54% of the market share in the UK, which shows they have better sales and remarkable expansion across the country (Young 2014). This is the vision Toni’s Coffee Emporium has. To achieve this vision, the targeted demographic sphere is divided into three. The first category is the 18-24 year-old coffee enthusiast. The second category is the 25-35 years-old coffee enthusiasts. The third category is that of clients above the age of 35. The classifications are for the targeted promotions the coffee shop will have to boost its brand across the market (Hochbaum, Moreno-Centeno, Yelland & Catena 2011: 1174). The aim is to meet the demand that these large coffee shops miss at the grassroots where most enthusiasts want a place to relax and enjoy with family and friends despite the hassle. The gender is not specific here because coffee enthusiasts are in both. The female gender will require more appealing because they make most of the health choices in the house and need to come on board (Solis 2011: 201). The consumer, communication platforms, convenience for everyone targeted by the products from the café and the cost of making everything available at the required point of sale will form the greatest consideration for the café at all times (Solis 2011: 202). These attributes will define the way products will be priced and the ability to promote it to the ideal client spots available in the country (Hochbaum, Moreno-Centeno, Yelland & Catena 2011: 1176). The other important part is to address the main issues that surround coffee consumption. The health issues are well understood and taken into consideration at the Toni’ Coffee Emporium because healthy clients will always refer their friends to the shop. The coffee shop will bolster its operations by increasing the amount of capital used in meeting local demands as well as harness the energy of all who wish to assist in meeting the increasing demands within the shop (Solis 2011: 219). At the present locations, the sales are good, but expansion will improve on the revenue due to bulky supplies and cost-effective business operations that come with increased capital investment and growing markets. Three years will be enough to start generating the required profitability based on the forecasting made through research (Mittal, & Frenne 352). Sales and Marketing Plan The product in question at this point is the coffee. This allows one to examine the core attributes that define the process based on what is ideal for the clients. It will be made in relation to what clients want and make sure that the people understand the main ideals of having freshly baked caked and freshly cooked coffee. The coffee many consume is made from a production line that does not provide the art of using what is available to serve people something authentic. The promotion of the product will be based on clear and concise message regarding the benefits of using the product for the sake of meeting and promoting the use of coffee for personal benefits (Solis 2011: 223). The objectives will be to highlight the product as fresh and nutritious, something product line coffee lacks. The price will be in tandem with the cost analysis of the production process and the operational costs though disposal income levels will also be a key consideration (Mittal, & Frenne 2010: 356). The place is ideal because it is busy with so many people coming and going. Further expansion will target similar places and make further ventures into suitable places for the sake of dealing with the expanding needs of the society (Kerin 2012: 129). The branding process will also dictate many things because the coffee shops with larger presence in the country still enjoy monopoly in some places. Toni’s Coffee Emporium will be of greater importance when handling the growing need for a stable brand. The marketing and promotional aspect will feature mostly the home-baked notions that drive people to buy products because they address their health issues. The growing need for a stable coffee consumption culture will be the core basis of using the branding process (Kerin 2012: 132). The goal is to touch the ideals of the people that mostly deny them the chance to enhance their position within the market. Arguably, most people buy products from the key coffee shops because they have made appealing gestures that meet their core demands. Toni’s Coffee Emporium will get off the way and use the basic senses to attract clients to the shop. The main motivation is that the freshly baked cakes and freshly cooked coffee are all authentic and represent something UK coffee lovers enjoy. Being on the move in the busy market, having a quick cup will remind them of home. That will be the core aspect of selling this product to them. The process of using the advertising methods such as the social media platforms will be a good way of making use of the available platforms (Mittal, & Frenne 2010: 365). The greatest companies rely on advertising as one of the best ways of reaching new customers. Word of mouth will be a good platform too because it sells more than any form of media advertisement. The goal is to create a new clientele that does not know more about this as they visit the market (Kerin 2012: 156). The use of the internet more so the website is the ultimate means of attaining the growing number of tourists who use the internet to look for the best places to have a drink in foreign countries. By maximising on user review websites, it will be easy to market Toni’s Coffee Emporium to the rest of the society. With freshly cooked coffee as the main point of attraction, it will be easy to capture the hearts of coffee lovers from across the world. The goal is to provide as much information as possible by providing them with multiple platforms to access it (Mittal, & Frenne 2010: 369). References Hochbaum, D.S., Moreno-Centeno, E., Yelland, P. & CatenaR. A. (2011) "Rating Customers According to Their Promptness to Adopt New Products,” Operations Research vol.59 no.5, pp. 1171-1183 Kerin, R.A. (2012). Marketing: the core, McGaw-Hill Ryerson. Koichi, S. (2014) Advertising theory and strategies, 18th edition, New York: Souseisha Book Company. Kotler, P. & Keller, K. (2006) Marketing and management, Upper Saddle River, NJ: Pearson Prentice Hall. Kotler, P. (2012) Marketing management. Upper Saddle River, NJ: Pearson Education Mittal, V. & Frennea, C. (2010) Customer satisfaction: a strategic review and guidelines for managers. MSI fast forward series, Cambridge, MA: Marketing Science Institute. Solis, B. (2011) Engage!: The complete guide for brands and businesses to build, cultivate, and measure success in the new web, London: John Wiley & Sons, Inc. Young, J. (2014) "UK coffee shop trends for market now £6.2 billion – and growing”, viewed 20 April 2015 from . Read More