The Hospitality Industry in Southern Australia - Term Paper Example

ADELAIDE UNIVERSITY COFFEE CART, INC by Student’s name Code+ course name Professor’s name University name City, State Date Executive Summary Business Description Adelaide university coffee cart, Inc. is meant to provide coffee services to university fraternity, the residents of Adelaide and its extending environs covering the larger region of Southern Australia. Due to the government’s involvement in the hospitality industry, the Adelaide university coffee cart, Inc. tends to venture into the lucrative industry as the government has injected incentives. This is achievable by converting the opportunity created in the hospitality industry in Southern Australia and its environs. The president of Adelaide university coffee carts, Inc. has the adequate knowhow in the hospitality industry. The president of Adelaide university coffee carts, Inc. has been spearheading management activities in several Starbucks located all over Australia. On the other hand the deputy president as a vast knowledge in the marketing function having held a similar position in various Multinational Corporations. The input of the deputy president to the marketing function of Adelaide university coffee carts, Inc. will hence be undoubtable. Both the president and the deputy president of Adelaide university coffee carts, Inc. Have been known to exhibit due diligence in their previous responsibilities. The Adelaide university coffee cart, Inc. has a crucial objective to offer high quality coffee which meets the standard of the government of Australia. In addition to the expectations of the Adelaide university fraternity and the residents of South Australia will be enhanced. The Adelaide university coffee cart, Inc. is optimistic that the market reception of the visible clientele will be positive hence fostering growth and development of Adelaide university coffee cart, Inc. This will in turn facilitate growth and lead to the emergence of other coffee carts in the university and the greater region of South Australia. Mission Statement The mission of the Adelaide university coffee cart, Inc. is to be a leading provider of quality coffee in the industry that is competitive in the industry and meets the expectations of all the stakeholders of the Adelaide university coffee cart, Inc. With the provision of quality services, Adelaide university coffee cart, Inc. Expect to enhance a lasting relationship with its clients who will emanate from the larger South Australia population. This mission will be achieved through capacity building of the workforce of Adelaide university coffee carts, Inc. which will develop their efficiency in the provision of quality services and thus earn reputation. The core objective of the Adelaide university coffee cart, Inc. is engaged in continuing improvement thus fostering growth in the income levels and the positive projection of the profit margins. Retained and increased customer levels will enhance the achievement of the set objectives. Product and Services Adelaide university coffee cart, Inc. is in the business of providing a variety of coffee products that will cater for the different populations in Adelaide university fraternity and its environs. Adelaide university coffee cart, Inc. has chosen to acquire a ready-made coffee cart. The coffee cart will then be expanded in future as need arises. Adelaide University coffee cart, Inc. will replace the current roof with a transparent roof top that will allow sufficient light circulation and at the same time protect the client from extreme weather conditions. There will also be an installation of a comfortable seating place where clients can relax. Market Plan Market Research In regards to Churchill, C., & FRANKIEWICZ, C. (2006).For the success of any organization, an appropriate marketing platform is fundamental. Adelaide university coffee cart, Inc. is no exception to that tenet. Adelaide university coffee cart, Inc. thus engaged in extensive research to acquire insight on the lucrativeness of the coffee consumption. The research adopted both the primary and secondary research antics. The primary research sought to get the individual perception from the University fraternity and the residents of Adelaide. The primary research concluded the coffee cart business was lucrative as there existed a culture that enhanced coffee consumption in Southern Australia. On the other hand, the secondary which was derived from media publication had a different result. This was because; the secondary research indicated the existence of prevalent governmental regulations in the hospitality industry. The information derived from libraries and newspaper articles indicated that business had shied away from the lucrative coffee business due to impending litigations that arose due to failure to meet the required standards by the government of the day. However, considering the high number of Starbucks in the country, it is evident that the standards can not only be achieved but surpassed (Awe, S. C. 2012).The current market share of Adelaide university coffee carts, Inc. is negligible to start with. However, bearing the growth prospects in mind and the demand for quality coffee products in Adelaide, Adelaide university coffee cart, Inc. will soon be a major player in the mainstream coffee industry. Market analysis Bangs, D. H. (2002).denoted that the barriers for growth are prevalent due to the existence of high production, capital, and marketing costs. In addition the community of Adelaide generally opts to acquire commodities that bear recognizable brands. Staff training is also a pertinent issue that has to be addressed by Adelaide university coffee cart, Inc. the marketing cost will be circumvented by engaging in local media which will be relatively cheap. In addition, brand recognition will be enhanced by Adelaide university coffee cart, Inc. through provision of branded coffee which will suit the need of the varied ages of the coffee consumers. Generally, individuals in the 18-30 age brackets prefer coffee that has high octane levels. On the other hand, the 30-60 age brackets depict affinity for half the caffeine content as compared to the earlier age bracket. This knowledge will enhance Adelaide university coffee cart, Inc. to meet the required customer specifications and surpass them. Adelaide university coffee cart, Inc. also seeks to provide other already brand recognizable products that will enhance faster market penetration. Competition Adelaide university coffee cart, Inc. faces no stiff competition in the business of vending coffee in Adelaide. Due to the prevailing high regulatory standards, many proprietors have shied away. Also the established Starbucks are yet to venture in the small business segments hence depicting the lucrative nature of Adelaide and the potential for growth accruing to Adelaide university coffee cart, Inc. Operation plan Adelaide university coffee cart, Inc. will implement an easy to run the system. It will involve three employees and a supervisor to start with. The supervisor will enhance quality control and ensure the regulatory requirements are adhered to thus avoid litigations. The employment contract will seek to ensure that all employees are aware of their expected code of conduct and as such behave accordingly. In addition, Adelaide university coffee cart, Inc. will emphasizes on meeting all legal matters that will be required before and during commencement of business operations. Financial plan The financial plan of the Adelaide university coffee cart, Inc. will be dissected into three crucial projections. The projected of the profit and loss statement, the balance sheet and the cash flow statement will be the crucial elements of the financial plan. Through the break-even analysis, it is apparent that Adelaide university coffee cart, Inc. will meets the operational cost utilizing the revenue earned. The startup expenses will be categorized as some of them will be written off in the profit and loss while others will be capitalized. Refining the plan Adelaide university coffee cart, Inc. will refine the business plan where need arises or in the event that additional information is acquired. Reference list Awe, S. C. 2012. The entrepreneur's information sourcebook: charting the path to small business success. Santa Barbara, Calif, Libraries Unlimited. Bangs, D. H. 2002. The business planning guide: creating a winning plan for success. Chicago, IL, Kaplan Pub. Blackwell, E. 2011. How to prepare a business plan. London, Kogan Page. Churchill, C., & FRANKIEWICZ, C. 2006. Making microfinance work: managing for improved performance. Geneva, ILO. Epstein, M. J. 2006. Performance measurement and management control: improving organizations and society. Amsterdam [u.a.], Elsevier JAI. Mckeever, M. P. 2012. How to write a business plan. Berkeley, Calif, Nolo. Read More