Develop a clear vision and translate it into a meaningful mission statement
We believe that there is a segment of the population that would like to be able to purchase a premium cup of coffee and other coffee products quickly and easily without having to take time to patron a store or navigate a parking lot. Our mission is to provide a premium product efficiently and at a bargain price to consumers in a drive-thru structure with easy in/out access and to grow profitably to offer more locations for underserved consumers.
Assess the company’s strengths and weaknesses
The size and structure of the business will enable faster service and the lower overhead will enable lower prices than the ...view middle of the document...
Analyze the competition
The obvious competition in this are the larger franchised coffee chains that are located well off the main throughway and centered down in the tourist areas or in the larger stores. The only other competition in the commuting area is a fast food restaurant that is located on the left hand side of the road.
Create company goals and objectives
The company goal is to fulfill a community need of offering a limited number of premium coffee products at a bargain price while providing easy access and efficient, friendly service to commuters, visitors, and shoppers. We plan to perfect our process efficiency while maintaining friendly customer service and offer it to neighboring communities with similar needs.
Formulate strategic options and select the appropriate strategies
We would adopt a cost focus strategy serving a growing niche in the community. The focus will be in the quality of the products offered and keeping overhead low to afford offering low prices thus meeting the expressed needs in the community as well as increasing profitability.
Translate strategic plans into action plans
Establish accurate controls
The drive-thru coffee shop, now named The Toll Bean, will focus on one main target market. To serve this market of the daily local commuters of the community we will provide a convenient fast drive-thru friendly coffee service. There are no other businesses offering this type of product with convenient drive-thru service in the area to date. After an informal consumer survey it has been determined that this is a service that the local community would like to see. A need does exist. There are over 50,000 daily local commuters with an average commute time of about 1 hour that travel the road of our chosen location. The average age of the community is 36 years with a median income of $94,000 in the 5 mile radius of our location which indicates that this is a community of busy professionals. Over half of these households have children which is another indication that they have busy mornings. This is a historical river town community that attracts a large number of tourists each year as well.
A random sampling survey of approximately 300 residents was done asking local consumers what they liked about our local coffee shops indicated that they enjoyed them as a meeting place. When asked what they would like to change over 80% of those asked indicated a drive thru service. All who responded indicated that they enjoyed the product served but stressed the inconvenience of the lack of drive thru service and would patron more often if that service were available. When asked if they would like to see a coffee shop that only offered drive thru service that was located on highway 36 in the old mall area, which is on the right side of the highway, 78% indicated a definite interest. Only 3% expressed indifference.
The Toll Bean will advertise in the local community publication that is mailed...