Juicy Fruits Shop Executive Summary - Case Study Example

Introduction This essay will be covering the business plan of a fruit juice company. The name of the company is Juicy Fruits shop and the report will be covering the executive summary, marketing, operation and financial plan in detail. Executive Summary Juicy Fruits shop will be a locally owned fresh fruits juice that will positioned as an ideal outlet for visitors having a creative approach to the image of the company and its brand equity. The Juicy Fruits shop will be providing good fruit juice at high quality and the product will be priced at value and will have good packaging and the atmosphere is guaranteed to fill with fun. This shop will be the perfect answer to the demand for fruit juice and the concept is this can have the window shopping customer base and revenue from those strolling through the shopping mall. In today’s globalized world in which there is increased competition, it has be to made sure that each outlet is differentiated from each other. The shop would be opened in a busy street that would be having a cinema hall and other mall services .The assumption is that the shop would be opened in Sydney, Australia. The main aim of the business plan is to prepare an initial launch and it will cover the financial, marketing and operating plan. The main target segment will be the youngsters and the family and the environment will be innovative and the recipes will include fresh juices topped with ice creams and will also supply delicious Belgian and French fries. There will be mouth watering sauces to add extra cream to the juice. The Main Objectives To become a successful local fresh juice outlet and be a name to reckon with in the fast food segment, thus gaining considerable market share. The Juicy Fruits shop would become the destination spot for the all type of consumers To multiply the number of outlets through the year and gain further by franchising option by selling to neighbouring areas. Mission The main aim is to serve good and fresh juice to the consumers. The next main aim will be to make Juicy Fruits shop a premier fresh juice and fast food market and elated customers experience. The customers should have a new rich experience every time they visit us and we would like to extend the brand by selling t-shirts having our logo and name. Our Success tips We would be striving to make certain success tips and that can be said as follows. We would be creating a unique menu that is a cut above the rest. We would be controlling cost by going green and we would be striving for an expansion of products based on the interests and feedback of the consumers. We would be creating a pricing policy that will be able to skim the market advantageous to us. We would be ensuring that the products sold are of high quality and of hygienic in nature. We would be able to surprise the customers by coming up with innovative ideas that can make competitors turn their head back in awe. We would be always keeping the two most important value like brand and image and we would be keeping values and ethics also We would be promoting the good value of the company culture and we would be keeping top business philosophy. What is Juicy Fruits shop From the moment you will be walking in through the glass sliding door you will be finding that Juicy Fruits shop will be selling juices having ice cream scoops, a special salad bar that will give healthy salads, and customers can linger with certain health snacks. The fruits that have to be made for juice can be chosen by the customer and the quality of the fruit can be determined by the customer. The customer will be given the provision of seeing how the juice is made and the kitchen settings. The customer can also decide the toppings like chocolate, and so on. Our specialty will be the probiotic ice cream that means life and this special ice cream will be beneficial health to the host.( “Probiotic ice cream”) The ice cream is sure to increase the immunity of the host, will be improving the digestion, will be preventing gut infection and will be managing traveller’s diarrhoea. (“Probiotic ice cream”)The flavours that will be offered as juice will be pineapple juice with separate scoop of vanilla ice cream having chocolate sauce. (“Probiotic ice cream”) The Ambience Though there will be temptation to copy the ambience of good and successful establishments, we will be creating a path of our own. Our colour of walls will be colourful and our chairs and tables will arranged in such a way that there is nothing to hide in front of the customer. The customer is free to roam around in choosing the product. The interior settings will be in such a way that the customer will comfortable with the bright colour counter and the display menu that will be hooked on to the wall. The target group will be from any class and there is no specific restriction for visiting our shop. Serving style Serving style will be old fashioned as we will be delivering the food or juice in old style, i.e. serving with smile and care. Open 7 days 365 days a year Our store will be open daily from 6 am to 12 pm and the working will be in shifts. The staff section will be covered by the promoters themselves in the initial stages. The need for the separate staff will arise only the shops gets that busy. Variety Variety of juices will be introduced every two months and steps will be taken to ensure that the time period will be shorter. Company Ownership Juicy Fruits shop will be a privately held company. The company will be registered as limited company. The ownership will be entrepreneurial mode (Cunningham, J. Barton; Lischeron, Joe, 1991).The name of the main person would be Jack. The names of the other staff are as follows Wilson, Ricky and Ann. Wilson and Jack have more than 10 year experience in the food industry. They are not currently employed. Jack has an MBA degree in Marketing and is an entrepreneur at heart. This is the first project that Jack is undertaking entrepreneurial in nature. Ann is the wife of Jack and has majored in food and hospitality management. She has worked in major five star hotels in Australia and America. Start-up Summary The company is proposed to be started on a rental basis and steps will be taken in near future to operate the shop in owned premises. We will prefer a space that can reach to larger traffic. The finances are planned to be done in such a way that every person will be sharing the cash together. The company Location and facility Juicy Fruits shop location will be in the range of 100-125 square meters and will be seating 20-30 guests initially. The shop will contain merchandise to display and other brand building attributes. The show room will be equipped with latest furniture and there will be aim for cleanliness. There are several shops or retail spaces that have been looked in Cinema District. This is the area that is overlooking the China Town. The community was chosen as it has wide range of customers coming to that area and due to the fact that it is also close to other areas. It is also considered as a tourist destination and the area has the best access in this region. There has been large number of teenagers in this region and that is also considered as an assets. These qualities closely match with the goal of Juicy Fruits shop goal of providing quality fat food experience and we believe in ‘word –of –mouth ‘to be the best way to market the product. That does not mean that other ways of marketing will not be followed. The Juicy Fruits shop will be competing with many competitors like several fast food joints in nearby shopping malls. The pizza shops and Burger shops will be also considered as competitors. Products We will be focusing on fresh juice, healthy snacks, ice creams and hot beverages .By hot beverages what is meant is coffee and tea. We will not be serving any type of alcoholic beverage including beer. We will be also various merchandise like t-shirts, caps, and our Tomato sauce, chilly sauce, chocolate sauce will be signature developed by ourselves. We will be also developing fruits organically and there will be organic farming developed for that. Product description The main product will be the fresh fruit juice. Then ice cream and snacks will be also healthy. Apple Juice, Peach Juice, Apple banana juice, Apple dark grape juice, Apple cherry, Orange Mango, Mango juice, Apple pineapple crush, fruit juice cocktail, ice cream scoop with Mango juice, Dry fruits essence with vanilla scoop, fruit salad with ice cream, fruit salad with cashew nut, dry grapes,pista and badam added. Chocolate ,vanilla ice cream with mango juice. Orange juice with orange ice cream and strawberry ice cream. Sliced mango in vanilla ice cream. The flavours will be more than 20 and steps will be taken to ensure that more flavours will be added. Competitive comparison The main advantage will be the freshness of fruits and the probiotic ice creams. The staff will be highly enthusiastic and will be meeting the expectations of the consumer. The chocolate sauce will be developed by us and the sauce for eating fried items will be also developed by us. No preservatives will be added to our products and the packaging will be innovative. A single cone ice cream with chocolate sauce will be provided extra for dipping and steps will be taken to ensure that purity is always ensured. The existing fruit juice shops in Australia were concentrating mainly on fruit juice only. Our differentiation is that we are positioned as health juice segment with ice cream and our main attraction will be our organic fruits. Marketing and promotion Juicy Fruits shop will start initially using sales and advertising programs to get the message across to the customers. More than 2000 color brochures will be developed and it will be distributed throughout hanging spaces like shopping mall, in-store, and cinema halls and so on. Half page review and advertisement will be given in all leading life style magazines and various leading news channels will be also tapped. The movie goers will be also targeted extra and steps will be taken to ensure that there will be grand opening. The competition will be the existing fruit shops, the ice cream shops, the snacks bar, the eating joints and places where people hang together for having food. Marketing Programs There will be a good outdoor signage for the shop and steps will be taken to ensure that gift certificates will be given to customers who are loyal. There will be direct mail piece and a piece will produced on a heavy paper and will be loaded with product descriptions, menu with price and a locator map. There will be provision for handling private parties and banquets. The youngsters who have been enrolled in schools and colleges will be targeted. All families’ especially young families with children will be targeted. Both the genders will be targeted and there will be slight skewness to males as they are prone not to eat healthy. All types of income like lower, medium and high income will be targeted. We will be also targeting shoppers who like window shopping and we provide with entertainment values. We will be targeting young children to eat healthy and it will be good quality food at affordable price. There will be special pricing for families and school and college children. The primary market will be the cinema goers and the secondary market will be the consumers coming for viewing the place as tourists. The main targets will be family member, school and college children, tourists and anyone interested in having juice and snacks. The healthy conscious people who may be tempted for ice creams can have a go at probiotic ice cream. We will be offering combo offers like fresh juice with snacks and so on. A web site will be opened under the name www. Juicy Fruits shop /au.com and it will be also an e-commerce site that will be selling merchandise . The Market Needs Globally the market is searching for healthier foods and we will be trying to satisfy consumers who like enjoying eating out. The consumers has come from ethnic backgrounds and adopting a global life style. Operational Plan Purpose The service that will be expected to be provided will be in the form of excellent customer service. There will be a menu and that will contain the details of products available, the price of the product, the time required to make the product and the ingredients that make the product. The products will be provided by keeping in mind what the competitors will be offering and there will be healthy conscious effort to make sure that there is difference from competitors. Feedback will be taken directly from the customers to know the quality of product that has been served. Human Resources There will be no fixed role for the staff including the owner. That means the manager can also change and the kitchen role can also change. This can be termed as not on a rigid manner but on a fun and mood basis. The skills that will be required for the job will be definitely the mind of customer service and come faster with innovative products for the customer. The human resource policy will be developed in the later stages of the growth of company. More recruitment would be taken at later stages. The compensation will be the sharing of profit plus a less proportion of fixed salary and that will be shared after paying the legal tax and keeping a buffer for company. The bonus and incentive would be paid as the occasion comes by. Strengths Juicy Fruits shop What are your business advantages? Business into fruit and Ice cream with health orientation What are your core competencies? probiotic ice cream and service,cost,organic food being used Where are you making the most money? ice cream is the main target What are you doing well? the sales of ice cream Weaknesses   What areas are you avoiding? other than fresh juice and ice creams Where do you lack resources? more recruitment is needed What are you doing poorly? tap in to new areas of business Where are you losing money? going deeper into ice cream and fresh juice could mean there would be loss of money What needs improvement? The ice cream and juice needs improvement Opportunities   Any beneficial trends? Health ice cream Niches that competitors are missing? Health ice cream and organic fresh juice New technologies? E-commerce New needs of customers? the younger to older generation has been tapped Threats   Obstacles to overcome? More companies entering the health ice cream market Aggressive competitors? There would be aggressive competitors in the form of ice cream companies Successful competitors? As the company is new, there would be more competitors to fight for. Negative economic conditions? There would be less spending from consumers Government regulation? There would be future government regulation like less fad food being sold. Changing business climate? The business could pick up as the finance should change. Vulnerabilities? The business competition could mean more money being spend on advertisement Financial Plan There will be start up funding for the Juicy Fruits shop . Start-up Funding. The company would be run on the sole proprietorship model and the amount that would be initially put would be 200000.This will give the cash cushion needed for expansion in the later years. Capital Planned Investment Initial fund Total :$20 0000 The financial plan would be in dollar and that would mean the excel sheet could be in dollar. Conclusion The business planning will not stop and will continue as long as there is business.( Brian R. Ford, Jay Bornstein, Patrick T. Pruitt, Eric S. Siegel,2007) There will be many ways a business can be done.( Linda Pinson,2001)The business plan is the most crucial document for an entrepreneur and this has been shown as example above.( Rhonda Abrams, Eugène Kleiner,2003).A business plan can be used for specific purpose (Gerald Schwetje, Sam Vaseghi, Jodi Gentilozzi ,2007) and the business plan shown here is the marketing, operating and financial plan of a business start up called the Juicy Fruits shop . Reference Brian R. Ford, ,2007,"The Business plan",The Ernst & Young business plan guide ,pp.10. Linda Pinson,2001, "What are the some ways of exit”, Anatomy of a business plan ,pp.8 Gerald Schwetje, Sam Vaseghi, Jodi Gentilozzi ,2007,"Planning",The Business Plan ,pp.13 “Probiotic ice cream”, viewed on November 13,2009,retrived from http://www.amul.com/icecream/aprobioticwellness1.html Rhonda Abrams, Eugène Kleiner,2003,"Basic of business plan",The successful business plan,pp.23 Cunningham, J. Barton; Lischeron, Joe,1991,"Defining Entrepreneurship" Journal of Small Business Management; Vol 29(1) pp. 45 Read More