Healthbite - Business Objectives, Marketing Analysis and Strategy - Example

Healthbite Business Plan Business Plan Name Institution Date Table of Contents Executive Summary 3 Business Objectives 3 Mission Statement 3 Business Ownership 3 Marketing Analysis 4 Marketing Strategy 4 Main Competitors 5 Legal structure 6 Services 6 Market Research Findings 7 References 10 Executive Summary Healthbite would be a healthy food restaurant that is committed to providing healthy organic food options that would be affordable and easy to purchase. While targeting individuals in food sensitive ailments like diabetes, hypertension, HIV/AIDS. Healthbite will be located in Preston Lancashire in the United Kingdom, in a retail space that is close to one of the Universities in the city the distance should be short enough to walk. The business will be a partnership that will not be incorporated to give the partners the leeway to make decisions. There are three other restaurants which offer more or less the same products and their effects as competitors have been analyzed. Business Objectives The primary objectives of the healthy meals restaurant are: To be a premier healthy meals restaurant for people who cannot always find somewhere else to eat. To provide healthy meals for those who need them the most at affordable prices. To give an opportunity for people to eat healthy to avoid lifestyle diseases. Mission Statement Our mission is to provide convenient and affordable healthy food options with a commitment to providing lean, organic, and environmentally friendly food products. Business Ownership The company will start as a partnership which, as opposed to limited companies, is easy to form. It will also enable partners to pool resources between themselves in order to have a strong capital base from which to establish the business. Having the business as a partnership will also bring together the different skill sets from partners thus making it easier to run the business1. The partnership will also allow for sharing of risk should anything happen in the course of running the business. Although having the business as a partnership will bring all the above mentioned advantages, it will also limit the amount of capital available to the business should the business require it to expand in the future, this would have been made possible by registering the business as a limited liability company which could later be publically listed. Since partnerships do not have well established authority structures, there might arise conflicts in the course of running the business which would jeopardize the running of the restaurant2. Marketing Analysis Marketing Strategy Although the restaurant will seek to educate the general public on the benefits of eating healthy, its main target market will be individuals who need to eat healthy due to allergies and other health conditions3. The advertisement will focus on these people who have a hard time getting somewhere to eat when they are not at home. The marketing strategy will involve specifically identifying the needs of different categories of people who fall under this segment. They include diabetics, obese people, people with allergies, people suffering from hypertension. The adverts will be posted in fitness magazines and other media specifically targeting these sections of the populations4. Main Competitors The main competitors were identified while researching the market for healthy food, they include; Jason’s healthy; this restaurant is based on a café-bakery concept and provides a detailed menu of healthy meals, it however does not cater for the diabetics and obese customers since most of its meals are extremely high in calories and carbohydrates. The pricing of the products is also steep and out of reach for many customers, the margin of difference between them and ordinary restaurant is big enough to lead the people who need this healthy food to eat in ordinary restaurant despite the risks to their health that would come with that decision. This will make it possible for Healthbite to compete effectively. Nutristop; this offers healthy meals for the general population; it has the advantage of attracting everyone which allows those who have health conditions to be accompanied by their friend for meals without having to eat food they do not like. However, Nutristop has the disadvantage of not having a targeted market segment; this means that those suffering from allergies cannot count on the food not containing the ingredients they are allergic to. The price of meals in Nutristop is comparable to the proposed prices at Healthbite. This means that Healthbite cannot compete with Nutristop on the basis of price Kima Restaurant; this restaurant has an initiative to promote farms that produce using organic methods in order to discourage the use of chemicals in farming. Like Nutristop, they are disadvantaged by lack of emphasis on healthy foods targeting specific ailments; this means that the restaurant does not target the same market segment as this restaurant. The price of meals at Kima is quite high due to the cost of transportation of organically produced groceries which are not grown around town. This puts Kima at a disadvantage regarding price based competition. Legal Structure Through a partnership deed, Healthbite will be registered as a partnership in the United Kingdom. Services Offering healthy meals will be the core business of the restaurant, however, to improve the health of customers and also market the restaurant regular seminars on the nutritional needs of people with nutrition sensitive ailments will be organized free of charge. The restaurant will also sell and promote other health products including Kangen water, energy drinks and exotic herbs. Market Research findings Research conducted to understand the trends preferred by potential customers showed that although a majority of them do not have health conditions requiring them to eat specific types of food,(only 20% had such conditions) 80% of them would still eat in a healthy restaurant and enjoy. To see whether customers would prefer coming to the restaurant or have their meals delivered to their homes, the question of which of the two locations they would prefer was posed. Only 5% indicated they would prefer to have the food exclusively delivered while 80% would work with either delivery or eating in the restaurant. The remaining 15% would not like food to be taken to their homes. This shows that it would be important to start a home delivery service. A majority of the respondents were willing to pay between £12-16 for a meal while the preferred location for the restaurant was at the city center. Below is a graphical representation for some of the answers given. What type of food do you prefer? Do you have any health conditions are related to the eating habits? Would you like to eat at a restaurant that serves only healthy food? What is the maximum price you could pay per dish? References Maria May Seitanidi The Politics of Partnerships: A Critical Examination of Nonprofit-Business partnerships, 2010. Hammel Laury. Growing Local Value: How to Build Business Partnerships That Strengthen Your Community, 2009. Malcolm McDonald.Market Segmentation: How to Do It and How to Profit from It, 2012. Jim Riley Q & A – What is market segmentation? 2010. http://www.tutor2u.net/blog/index.php/business-studies/comments/qa-what-is-market-segmentation   Read More