Features of Our Service Waiter on Wheels - Coursework Example

EXECUTIVE SUMMARY WAITER ON WHEELS aims to provide high quality food to our s at the spot, with the most convenient ordering and payment system. Our business is half service and half product. Customers will place an order by either calling or messaging (through SMS) us at our numbers, telling us their exact location. Our job will be a speedy delivery! We are catering to those people who cannot manage to go out and have lunch during break hours. Wherever and whenever our customers need us, we will be one phone call away and we aim to provide our customers with delicious, healthy and hygienic food at moderate to low prices. THE BUSINESS We take great pride and care to provide you with the best food and great experience in our quick service business. We believe eating sensibly, combined with appropriate exercise, is the best solution for a healthy lifestyle. When youre talking about lunch, WAITER ON WHEELS has all your favorite chicken, salads, sandwiches and beverages. WAITER ON WHEELS serves a wide range of quality foods that can easily fit into individual diet needs based on the principles of balance, variety and moderation. Our varied menu makes it easy to fit our food into a balanced diet. PURPOSE The purpose to start this service is to serve people of new era with a different and the most competitive style. The prime purpose is to generate profit by providing superb customer services. We aim to be the leader in providing quality food items that fit into a balanced diet. Our aim is to provide the hygienic and delicious tastes that the customers have never tasted before. We want to add convenience in the lives of food lovers by providing them the most wonderful dining experience, Features of Our Service Aiming to serve you in a way that is more convenient than ever. We shall also serve on special occasions. This service allows greater customer service relationship by providing enhanced service to their customers. Our service ensures hygienic, nutritious, healthy food with quick delivery. Customers can cancel or change the order by calling or even messaging (through SMS) without disturbing their busy schedules. Clients can enjoy a wide variety of food offerings available in menu. Clients make their food orders and designate the time the food should be delivered. Once the order is placed, WAITER ON WHEELS remains in contact with the customer to ensure that food is delivered according to the clients instructions and then confirms the on-time delivery. VISION STATEMENT The companys goal is that of a multi-faceted success. Our first responsibility is the financial well-being of the business. We will meet this goal while trying to consider; The effect of our products on the health and well being of our customers, the high quality of attitude, fairness, understanding and generosity between management, staff and customers. Awareness of all these factors and the responsible actions that result will give our efforts a sense of purpose and meaning beyond our basic financial goals. MISSION STATEMENT "Change the way, food is served” Tom Peter’s, the Management Guru states: “Any business that does not change will be dead in five years”. Businesses don’t change for the sake of change, businesses generally change because the consumer either asks or forces them to change.  It is not the industry that is forcing change; it is you as consumers.  Core Values and Philosophy Customer satisfaction through offering high quality food with exceptional service and good value. Be topical, not typical. We take great pride in serving our customers. We seek continuous improvement in all that we do. Build trust relationship with customers by promoting love and expertise. We value a sense of urgency and emphasize an innovative approach to business. We expect fairness and mutual respect in all our activities. We know our success depends upon the initiative we take individually and our ability to work as a team. GOALS We are committed to exceed our customers expectations every time. We aim to gain our customers loyalty by providing superb customer experiences to all our customers. We will seize every opportunity to innovate and lead the industry on behalf of our customers. Our goal is to increase the profitability and reputation of business. THE MARKET MARKET SEGMENTATION Our business is initially going to cater to the commercial market of London. This segment can be effectively reached and served. TARGET MARKET Our target market is all the consumers of London who prefers to stay put and have their food delivered to them on the spot. It can be both due to shortage of time or absence of conveyance. MARKETING PLAN Market Research: 4 C’s 1. Customer Solution 2. Customer Cost 3. Convenience 4. Communication Customer Solution: Customer solution means the solutions to their needs and wants. For this it is necessary to first identify the needs and wants of the customer. This can be related with the product of the 4p’s i.e. we should offer the customer with the product that he needs. In our project we identified the customer want that they want hygienic food with delivery. So we offered them our food delivery service. Customer Cost: We should have to adjust our product’s price that can meet the customer’s cost i.e. customer should be satisfied with what he is getting for what he is paying. We have kept this element in mind. Convenience: We should place the product in a way that is convenient to the customer to buy. As we are also delivering our food so we are providing the service of delivering food at a place the customer want for their convenience. Communication: We have to communicate to our customer about the product. This can be done through advertisements. We have advertised our product through banners, charts and brochures to make people aware about our product and service. Surveys at different times should be conducted in order to know the post purchase behavior of the customer. SWOT ANALYSIS Strengths Delivery of food on the spot Menu reflects demand for fresh and healthy food. Use of non-traditional channels. Staff training is structured and designed to assure rapid start-up and success. Convenience is an important factor oh this service Weaknesses Lack of trust of general public about order placing and then finally get their desired food item Opportunities Continue to Grow Business in the whole country Update advertising and promotion Improve Customer Service Model. Continue to revise and refresh menu offerings. Develop more partnerships with best restaurants of the city and deliver food items at reasonable delivery rates Threats Food contamination Competition. Bird Flu Business and marketing strategy: We are providing value proposition more for less. This means will provide more value like hygienic food and good service against economical price. We are providing them membership offer, we will offer them discount and we will also provide them special meals at special occasions and parties. Promotion Promotion will be done by following two methods. 1. Advertising: We will advertise our products by brochure, banners and placard. We will also advertise by hosting a fan page on face book initially. 2. Sales Promotions: People will be given incentive to buy for sale promotion; we will offer our customers membership cards. Using membership card they can enjoy benefit of temporary reduction in price. We will also give benefits to our sales men. If they exceed the target we will give them bonus. Management plan and Financial plan:  Break even analysis: Investment: 2 scooters = 15,000*2 = 30,000 Kitchen/appliances = 15,000 Total investment = 45,000 Fixed cost: Salaries (chief / deliverymen) = 16,000 4 partners salaries (20,000*4) = 80,000 Variable cost: Utilities = 10,000/ month Petrol = 6,000/ month Packaging + groceries = 10, 66,000/ month Total cost = fixed cost + variable cost = (16,000 + 80,000) + (10, 66,000 + 6,000 + 10,000) = 11, 78,000 / month Variable cost / unit: V/C = 16,000 Days = 20 Units / day = 1,000 / units Units / month = 20,000 / month 16,000 = 0.80 / unit variable cost 20,000 0.80*1,000 = 800 / 1,000 unit’s variable cost Fixed cost / unit: F/C =96,000 Days = 20 Units / day = 1,000 / units Units / month = 20,000 / month 96,000 = 4.8 / unit fixed cost 20,000 4.8*1,000 = 4,800 / 1,000 unit’s fixed cost T/C per unit = F/C per unit + V/C per unit = 0.80 + 4.8 = 5.60 Or Unit cost = variable cost + fixed cost Unit sales = 0.80 + 96,000 20,000 = 5.60 Target return price = unit cost + desired return * invested capital Unit sales = 5.60 + 0.20*45,000 20,000 = 6.05 Break-even volume = fixed cost Price – variable cost = 96,000 6.05 – 0.80 = 18300 units Two-year cash flow forecast: Year 1/month Year 2/month Receipts 65,000 85000 Payments Utilities 10,000 10,000 Petrol 6000 6000 Packages/ Groceries 60,000 60,000 Total Payment 76,000 76,000 Net Cash Flow (11000 ) 9000 Opening Balance (12000) 8000 Closing Balance 1000 1000 Two-year profit & loss forecast: Year 1/month Year2/month Sales 75,000 85000 Costs of Good sold 60,000 62000 Gross Profit 15000 23000 Operating Expenses Salary 12000 16000 Petrol 6000 7000 Telephone 2000 2500 Depreciation 750 750 Total Expenses 20750 26250 Net profit before tax 5750 3250 Income Taxes 2000 2000 Net profit after tax 3750 1250 Two-year balance sheet forecast: Balance Sheet Waiters On Wheels Year1 Year2 Assets Cash on hand 6,000 8000 Cash in Bank 12,000 14000 Account receivable 2000 4000 Fixed Assets Equipment and Fixtures 6,000 8000 Total Assets 26000 34000 Liabilities Current Liabilities Account payable 6000 8000 Notes payable 8000 1000 Total Current Liabilities 14000 18000 Long term Liabilities Mortgage Payable 6000 8000 Net Worth 6000 8000 Total Net worth and liabilities 26000 34000 All figures are in £. Assumptions: The financial picture of the business is quite encouraging.  We aim to heavily invest our own assets in the business to pay off the credit from the bank. Our credit line will of course be supported by our assets. We assume a fairly high-growth and acceptance of our business in London, given the lack of competition.   We assume that there would be no changes in technology to make our products immediately obsolete.  We assume access to equity capital and financing sufficient to maintain our financial plan as shown in the tables. We expect our profits to keep increasing over the next two years, as we establish a loyal customer base and acceptance of our business. References: Siciliano, G (2003), Finance for Non-Financial Managers. McGraw-Hill Verzuh, E. The Fast Forward MBA in Project Management.Wiley Baker, M (2004), ‘Marketing:Crit Persp V4’ Routledge. Kinnear, H, (1983). Principles of marketing, Scott Foresman Hodgetts, R. Management: Theory, Process and Practice. W.B. 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