Care for Nutrition - Mission Statement and Business Objectives - Example

BUSINESS PLAN Executive summary The primary purpose of the business plan is to elucidate on the necessary factors and considerations set in place to ensure the success of the proposed business. The factors and considerations among others include business financing, management of the firm, and the vision of the enterprise. The business falls under the food and nutrition service industry. Our mandate is ensuring our clientele adheres to proper dietary habits. The founder of the business is a specialist in the field on nutrition with necessary skills and competencies as per the Nutrition Society of Australia. Almost two-thirds of the population in Australia is overweight (Future directions international 2017). Our vision is ensuring proper dietary lifestyles in Australia by giving necessary advice and guidance to our clients on matters nutrition. Our goals include eliminating lifestyle conditions experienced now or in future by our customers by offering proper nutritional advice. Another goal is to ensure our clients receive personalized solutions that suit their needs to lead healthy lives. Our objective is, together with our customers ensure dietary considerations are in place in arriving at viable solutions. By the year 2020, the business together with other stakeholders such as clients, staff and the government should facilitate better nutrition values to each family in Australia. Malnutrition in from of obesity is rapidly increasing in Australia hence the need to curb the menace. Our businesses dedication is in fighting such by ensuring safety standards about nutrition by our clients. Our business is reaching various clients by offering affordable services at accessible areas. Business description and legal structure The business name is Care for Nutrition (C.N) under which business transactions should occur. C.F.N is a sole proprietorship form of business under the sole trader a nutrition specialist hence unlimited liabilities in case the business is in debt the owner's assets may repay the debt of the firm. A sole proprietor cannot separate himself or herself from the business. Among our trading terms is that a client only pays for a service after receiving the service. The customer has a right to decline payment of a service if it was not to standard. Service delivery to clients is on first come first serve basis, and there are discounts for regular customers. Services offered by the business include exercise and sports nutrition where we evaluate various nutrition strategies useful in enhancing higher performance in exercise and sports. Public health nutrition is another service we offer whereby valuable advice in the evaluation of programs and policies if the foods are scientifically affecting nutrition and human health. Food nutrition, here we assess client's problems concerning nutrition and advice them in developing better dietary plans. The business location will be at Adelaide city in Australia at King William Street. Our offices will be on rent basis payable monthly. The main offices comprise of a reception and three rooms. We choose the domain name .com for easy access by our clients. The businesses website is carefornutririon.com where one may find all details of our business and services offered. For complaints, one may visit customercare@carefornutrition.com. The business is a member of the Nutrition Society of Australia under the sole proprietor through which the business is represented (Nutritionaustralia.org, 2017). The business is accredited to conduct dietary activities as it has approval from Dietitians Association of Australia which certifies professionals with particular skills and knowledge (Business.vic.gov.au, 2017). The business has an Australian Business Number and a tax number as well. The establishment acquired licensing from the city of Adelaide. Mission statement and business objectives The entity Care for Nutrition is dedicated to ensuring nutrition is adhered to not only in Adelaide but Australia as well by giving the best dietary advice and better nutrition strategies. We believe in better nutrition for all, with better nutrition comes better performance in other sectors of our economy and livelihood. Our establishment is a profit-making venture that aims at transforming the nutrition world and expanding it to greater heights. We serve an array of clients such as hospitals, schools, families and individuals on better nutrition practices. Whatever nutrition problem our customers are facing we shall be sure to solve it, as there is a nutritional solution for everyone at Care for Nutrition. Our dedicated staff ensures our clientele gets the value of their money by offering services in a hospitable and a more personalized manner. Our short-term goals include providing solutions to our new clients for their nutrition issues. We also aim at advertising our services to prospective clients in shopping malls, schools, and parks by word posters and publishing fliers. Care for Nutrition will endeavor to ensure that our community leads healthy nutritional lives by indicating on proper ways for observing proper nutrition. Our long-term goals and objectives comprise of receiving positive feedback of 90%from our customers on service delivery, the key success to business success is a happy client. The business targets to double the revenue in the next three years of operations, as it is our mandate to ensure better returns are met. The business wi9ll award the hardworking and most hospitable employees of the year. The business will work together with our community, for instance, we plan to collaborate with our police department and ensure that each officer of the law and their families receive free nutritional advice at least once a year. By so doing this will encourage our officers to observe healthy dietary habits as they undertake the duty of ensuring the safety of Adelaide city. The milestones of the business including developing a suitable market strategy that will ensure the business increases its clients over five years. Marketing strategies employed will include conducting a market research by hiring a marketing specialist to advise our business. Our business will increase funding in marketing aspects to reach as many clients as possible. Another milestone we want to achieve is customer loyalty by awarding incentives to customers. Hence proper funding to encourage customers to come back and to be loyal to our business. Our milestones aim at increasing revenue in the future and expand on client base. The business will increase the number of staff as business activities increase; we will hire more nutritional specialists and assistants to enable proper service delivery of our business. As we attain growth, we shall include new services suitable to client needs with an aim to increase our market share in the existing market structure. In future, our projection is that the business will grow from a sole proprietorship to a limited company and expand the activities to the other main cities in Australia. Legal and regulatory requirements The Australian government has set out conditions to be met in operating and starting a business in Australia. Our business has embraced legal requirements necessary in operations of the business (Business.vic.gov.au, 2017). Our business has an Australian Business Number, the Goods, and Services Tax, a file Tax Number and lastly the Pay as you go PAYG (withholding). The business through the founder has met specific requirements such as education that indicate one should have a diploma or a degree in nutrition studies for them to work as a nutritionist in Australia. The proprietor has a degree in complementary medicine that covers matters nutrition and health. An Australian Business Number is a requirement for any enterprise in Australia as it confirms the identity of the business and especially in processes such as invoicing and ordering. Our business applied for a business number at no cost since there is no payment in acquiring one. The entity name complies with the legislation as per Act 1999 of the new tax system. A file tax number is very vital for any business enterprise operating within Australia. Our entity acquired a file tax number as required by the law under the legislation of privacy (tax file number) rule of 2015. The tax file number is vital in that it has a record of tax information for the business. By having a tax file number, our business complies with set out regulations by the government. Our business has the mandate of ensuring employees meet their tax liabilities at year-end. Therefore, we collect pay as you go withholding amounts from payments we make to our staff. The money we raise submitted to the government. In employing staff, we ensure they are legible to work in Australia as required by the law. Thereby compliance with the pay as you go act of 1999 Act number 178. Business and financial risk SWOT ANALYSIS Strengths Weaknesses Opportunities Threats Strong financial backing. We have resources to kick start our operations. Time management in running the business by the practitioner. We can target individuals looking to develop new nutrition habits The competition by bigger firms likely to face us out of the market as they have resources in marketing their services. Marketing we have great marketing strategies on how to attract and retain clients. Financing the business and the various operations. Offering advice to people suffering from malnutrition.ie obese people. Online content that provides nutritional information free of charge hence affecting our business. Our qualified staff ensures excellent service delivery to clients. Uncertainty of the market trends in the industry Reaching markets not met by other nutrition firms such as the aged. The practitioner has skills and knowledge in the nutritional industry Attracting and retaining new clients Strategies for overcoming weaknesses and threats The practitioner is to ensure he works from morning hours to six o'clock in the evening to avoid burnout thereby resulting in fatigues and poor service delivery affecting revenue. The practitioner is to delegate duties to other members of staff with deadlines to ensure proper time management. The business is to utilize all the available funding so that the business can achieve set out objectives and be sustainable in the end. The business should carry out market research to have an idea of the expected trends in the industry. New clients will receive incentives such as discounts and personalized care to ensure they choose Care for Nutrition as their nutrition partner. Proper marketing strategies that operate within the marketing budget followed to ensure good advertising and to reach out to as many clients as possible. The business through its online platform will aim at reaching more customers by advertising and charging for online services offered. Competitors’ analysis Our main competitors are core nutrition also based in Adelaide who has a huge market share and huge online presence. Their pricing is expensive in that they charge 95 dollars per hour for consultations. Their strength is that they are widely known all over Adelaide city. Their price is high according to a market survey carried out by our business. Contingency plans In case the primary practitioner falls sick, the business will continue to offer its services, as there is another specialist employed by the business on part time basis. Members of staff are covered by insurance paid for by the business, and so are the premises of the business. The business has necessary measures such as surveillance cameras and locks that facilitate protection the facilities at all times. A guard is present during both the day and night. Our business employs services of data specialists who advise us on how to ensure we protect data from access by unauthorized persons. We take client information very seriously; hence, we protect it from unauthorized access. Our establishment has a contingency fund to protect us from situations where there is minimal cash flow to run the business. The reserve fund's purpose is helping the business in times of financial constraints. Marketing plan The target market our business has put into consideration are families, the aged and participants in sports and games. Population growth rate has increased according to a recent survey carried out in Adelaide. Population growth requires better nutrition practices for all in the community in question (Antony, 2016). The people of Adelaide has a higher rate of taking refined and processed foods hence leading to dietary conditions experienced in Adelaide such as obesity. Buyers in Adelaide purchase more of "junk" foods such as pizza, sandwich, hamburgers and meat pies not forgetting sodas. These foods may have massive content of refined sugars and unprocessed fats. These foods when consumed in large amounts lead to dietary issues to individuals. Our business dedication is in avoiding increased the cases of obesity and poor dietary habits leading to diseases Adelaide city. Our services such as public nutrition enhance our objective of eliminating obesity; this service is offered in public institutions such as schools and hospitals where we collaborate with such organizations to give appropriate dietary advice to people. We provide personalized services to individuals and their families and assist in coming up proper diet description that suits them. Our services are up to the market standards as they focus on current issues faced in Adelaide. Our marketing strategy is different from our competitor’s strategies in that we deliberate with our clients on suitable methods they can embrace and help them develop a plan. Unlike our competitors, we offer 24-hour service where one can receive clarifications and information from any part of Australia and the country from our automated website. What sets us apart from other nutrition entities is that we offer personalized services by being keen on the customer's history and preferences not forgetting health concerns. We also offer unique packages to our clients whereby we can come to you to advise on appropriate dietary habits. We will advertise by providing fliers to members of the public in various locations across Adelaide. We plan to have an open day where people can access our services free of charge as a form of advertising. As another way of advertising our services, we shall offer discounts to the first 100 clients. Our pricing is very affordable we charge fixed rates on consultations, for instance, individual meetings are at 65 dollars per hour. For family consultations, we charge 100 dollars per whereas institutional meetings are at 200 dollars per hour. The revenue from the various consultations should exceed the costs experienced in offering a particular service to attain breakeven point. Our pricing also aims at increasing revenue to meet our set out financial milestones such as doubling revenue through better advertising and marketing our products. Operations plan and business structure Here the business outlines the roles, and requirements of our members of staff. Secretary requirements: Have a diploma in secretarial studies from an approved institution Minimum working experience of two years Good communicator Responsibilities Handling client appointments. Receiving calls for the business. Plan business schedules. Accountant requirements: Have a diploma in accounting. Prior experience of 1 year. Responsibilities Maintaining bookkeeping and accounting information The preparation of payrolls. Giving regular financial reports to investors on a monthly basis. Filing the business returns. Information technology officer Requirements Have a diploma in computer science. Possess programming knowledge. Responsibilities Ensure proper running of the business website. Improving system updates in business software. Security Guard Requirements One year working experience. Responsibilities Provide security in business premises. Organization structure The board (comprising of investors and the proprietor) C.E.O (proprietor) Technology expert Accountant Secretary Security Officer Specialist services such as legal services the business cannot afford on a regular basis hence outsourcing when such services arise. Hours of operation are from 8:00 am to 4:00 pm on weekdays and 9:00 am to 12:30 pm on Saturdays. Our online platform, however, operates on a 24-hour basis every day. Our suppliers will supply goods and services such as furniture and technological equipment on credit payable in installments as agreed by the business and suppliers. The business requires furniture, computers, internet connection, and stationery to facilitate business operations. Record keeping in our business is in a digital form as we live in an era where technological advancement has taken center stage. Storing information in a digital form is advantageous as retrieval of information is easy. Financial plan Here we show our sources of finance. Investors; the proprietor sought funds from an investment company and given access to the necessary funding. The investor is to acquire money invested by owning a 40% stake in the business and receiving dividends resulting from the profits at year-end of every financial period. The investor contributed 40000 dollars as part of the initial capital for the business. Proprietor: the proprietor has a 60% ownership over the business. The owner provided 60000 dollars as part of the initial capital for the business. Bank: the business received a bank loan of 5000 dollars for it to achieve its mandate and operations. Start-up costs were 105000 dollars. We calculated break-even analysis by using the formula: fixed costs ÷ (price-variable costs) Projected Cash Flow Statements for Care for Nutrition for the first 12 months of operation Particulars Jan Feb Mar April May June July Aug. Sep Oct Nov Dec Total CASH INFLOW Opening Balance or Balance b/f 105000 80000 87000 95000 74000 100000 100000 95000 980000 750000 80000 100000 Owner’s equity 40000 Bank loan 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 Cash sales 2000 1500 3000 1500 3200 1000 1500 2500 4000 800 5000 3500 Debtors Any other source (specify) TOTAL CASH INFLOW 152000 86500 95000 101500 82200 106000 106500 102500 117000 80800 90000 103500 CASH OUTFLOW Salaries and wages 150000 150000 15000 15000 15000 15000 15000 15000 15000 15000 15000 15000 Rent 800 800 800 800 800 800 800 800 800 800 800 800 Electricity 300 500 400 350 300 250 300 350 500 150 500 300 Water 100 120 100 140 130 100 120 100 140 200 100 100 Telephone 100 200 200 200 200 200 200 200 200 200 200 200 Mail 50 40 30 55 40 25 30 40 50 60 45 30 Transport 20 100 120 50 80 60 40 50 50 100 70 60 Advertising 500 100 100 100 150 100 200 200 300 600 150 250 Insurance 120 120 120 120 120 120 120 120 120 120 120 120 Loan repayment 450 450 450 450 450 450 450 450 450 450 450 450 Interest on loan 100 100 100 100 100 100 100 100 100 100 100 100 Taxes 120 130 100 120 140 100 120 100 250 100 100 100 Any other expenses (specify) TOTAL CASH OUTFLOW 16660 17660 1755o 17485 17470 17305 17480 17510 17960 17880 17635 17510 NET CASH FOR THE MONTH Profit and loss statement for Care for Nutrition Revenue Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Sales 2000 1500 3000 1500 3200 1000 1500 2500 4000 800 5000 3500 Cost of sales 100 50 250 50 300 40 50 100 250 0 400 250 Gross profit 1900 1450 2750 1450 2900 960 1450 2400 3750 800 4600 3250 Expenses Rent 800 800 800 800 800 800 800 800 800 800 800 800 Travelling 20 100 120 50 80 60 40 50 50 100 70 60 Advertising 500 100 100 100 150 100 200 200 300 600 150 250 Interest on loan 100 100 100 100 100 100 100 100 100 100 100 100 Professional fees 50 50 50 50 50 50 50 50 50 50 50 50 Licenses 50 50 50 50 50 50 50 50 50 50 50 50 Insurance 120 120 120 120 120 120 120 120 120 120 120 120 consultants 400 100 200 100 100 200 400 200 300 400 100 100 Total expenses Net profit -100 30 1210 80 1450 -520 -310 1130 1980 -1420 3210 1720 Financial projections for the next three years Sales Sales projections 2017 2018 2019 29600 30000 34000 Assets Office equipment 800 1200 1400 Furniture 500 700 750 According to the above information, our business is sustainable. Some instances of cost and expenses do exceeding the profits has been seen, but the business bounced back thereby proving it is sustainable. Our projections may seem ambitious but never the less they are attainable. All considerations were made in coming up with these projections. Policies and procedures We developed a strategic plan for our business that illustrates on where we want to be in the next five years. We developed a financial plan, which we are to follow to increase the revenue of our business by the next five years. The financial plan discusses on ways by which the business shall improve the financial capability to be able to compete with bigger firms in the nutrition industry throughout Australia. We aim at being the best provider of nutritional services in the country. To achieve this, we have put measures to ensure we attain the above. Customer service is a critical component for business success. We will improve customer service by encouraging the integration of clients with members of staff. Our dedication is to pay taxes and other levies from professional bodies on time. By so doing we encourage better existence with stakeholders and regulators. Financial prosperity, better customer service and compliance with the various regulatory bodies will lead to the business success of our establishment. Evaluation and justification of research methods and findings We have gathered information in the form of research to put it together in the form of a business plan by observing the necessary rules, regulations, and procedures set out by the government and other regulatory bodies for easy and better operations in our sector of interest. For instance, our marketing strategies through advertising we decided to go with offering free services on our open day, unlike most firms that would result in giving out services at subsidized. These show how we believe in our services to the members of the public. In the offering of services, our services are more personalized, and this gives the customer the personal appeal as they are served with hospitality and thereby making they feel appreciated and part of the process. Our business ensures client confidentiality by having a good record keeping system that protects this information from external access. Consumer information is in a digital format, and our digital systems are well attended to thereby no cases of leakages in customer information as we value their privacy. Our business observes various regulations and legislations passed by Parliament such as tax laws where we have a registered tax file number and remit taxes withholding to the government. Our business also complies with bodies such as Nutrition Society of Australia, the Dietitians Association of Australia and the Sports Dietitians Australia. References  Future Directions International. (2017). Health and Nutrition in Australia - Future Directions International. [Online] Available at: http://www.futuredirections.org.au/publication/health-and-nutrition-in-australia/ [Accessed 17 May 2017]. Business.vic.gov.au. (2017). Licenses and registrations | Business Victoria. [Online] Available at: http://www.business.vic.gov.au/setting-up-a-business/how-to-start-a-business/licences-and-registrations [Accessed 17 May 2017]. Nuritionaustralia.org (2017). How do I become accredited? Nutrition Australia. [Online] Available at: http://www.nutritionaustralia.org/nationa/how-do-i-become-accredited [Accessed 17 May 2017]. Read More