This website uses cookies to ensure you have the best experience. Learn more

The Business Plan Essay

2944 words - 12 pages

The Business Plan

1. Introduction

This portfolio work will enable me to learn how to set up a business.
And we have to do many things to set it up. And I want to set a tuck
shop in the boarding house which is near the school and what I have to
do is get the tuck shop started. I also have to write a business plan
for it to make sure that I know what is I doing. A business plan will
also allow me to minimize risks of failure; failure can be very costly
to a business. I set it up because the boarders in the house always go
to the supermarket in MP .If I haven't written a business plan it will
be an increase in risks and decrease in success in rate.
...view middle of the document...

I also have been research in the internet about the machinery of the
tuck shop and I look the newsagent for the price what are they selling
then compare to my price so I can confirm that my price will be
cheaper than them so the people in the boarding house will buy the
sweet in the house not outside in the newsagent.

4. Marketing Strategies

Market strategies are helping the firm to achieve their marketing
plans and targets. The marketing strategies will be used in order to
make the tuck shop be successful will be the 4P's. These are :

These 4P's tell the business that they must sell the right product at
a price customers are willing to pay, in the right place and inform
consumers that it will be available through promotion.

[IMAGE]1. Price

2. Product

3. Promotion

4. Place

Product------"Come on" will have a huge range product such as: soft
drink, chocolates, ice cream, crisps etc. The idea of selling ice
cream is because ice cream can give "Come on" a competitive advantage.
Because in many newsagents are not selling ice cream. So there will be
a gap in the market which is known as market niche but from my result
of my questionnaire, 60%people said they are very like; 27% people
said they like ice cream is selling in the tuck shop. The food sold in
my tuck shop is segment for the correct age group in the boarding
house e.g. teenagers are from 11-17 are most likely to buy this thing.
This is known as Market segmentation---- this is the division of the
tuck shop according to different types of customer, in order to meet
people's needs. The tuck shop could introduce a new product and fill a
gap in the market, which is also known as a Market Niche.

Price----If the price that is set for the products is too high then it
is easier to lower them than it is to raise them. Demand changes
towards price, which is called 'price elasticity'. Fortunately the
competition is weak in the house. There is only a little tuck shop
which only sells several products with high prices. In this case, I
considered the competition in the house. Therefore I can keep the
price high and obtain large profit margin. From this point the pricing
strategy that will be Cost plus pricing, this is when the firm
calculates and adds a percentage mark-up to determine the price. The
percentage mark-up = profit. From the results of the questionnaire,
64% of respondents said that keeping prices low is important (See
Appendix 1.10). So from this point "Have A Break" will decide on a
suitable price by decreasing certain percent (But the price will be
just a little lower) to satisfy consumers needs and wants.

E.g. From my observations of my competitor analysis I have found that
the competitors charge around 35p for a packet of Walkers crisps. But
I will only charge 20p-30p.

Eventually...

Other Essays Like The business plan

Business Plan Essay

3887 words - 16 pages travel agency), which include business name, the prime function of the business, the location of my business, legal entity, mission statement, goals in different aspects, skills and personal qualities of the owner. Stage 2 The second stage of the business plan is employment relations, in this stage, we have talk about number and types of employees job advertisement, selection process, training and development of the staff, and monetary and

Business Plan Essay

3883 words - 16 pages KEY NOTES: 1. Instructions are included throughout this document in red italics. Please delete all instructions before printing out your final plan. 2. This document includes the textual portion of your business plan. Many of you will also want to create your financial projections (created with the Microsoft Excel file we gave you) and integrate them into this document. Directions to do this are included throughout this document. To

Business Plan

1988 words - 8 pages activities through which they | |earn a livelihood for the family. How do you plan to earn your livelihood? Would you like to take a job in an organization or would you like to start | |your own business? This course will expose you in detail to entrepreneurship—the concept, its importance and functions—and also learn about the | |qualities of entrepreneurs and also their ability to set-up a small enterprise

Business Plan - 3893 words

3893 words - 16 pages Marketing Plan for BUSN319 Student Marketing Plan for Brownie’s Country Tavern A Marketing Plan by: Ryan Brown Submitted to: Paula Zobisch January 31, 2014 DeVry University Abstract This marketing plan for Brownie’s Country Tavern includes a complete summary of my business including a thorough description. In addition a strategic focus and plan will summarize all of the businesses goals, mission statements, core

Business Plan - 729 words

729 words - 3 pages . Manilyn M. Camba Brgy. Wilson Mayorga, Leyte 6. Catherine A. Asis Brgy. Highway Dulag, Leyte C. Nature of Business The proponents decided to adopt the service type of business because D. Statement of Financing Needed This business plan is prepared to obtain financing in the amount of Seven hundred fifty pesos.CattleyaNet’s start-up costs will cover coffee making equipment, site renovation and modification, capital to cover losses

Business Plan - 4694 words

4694 words - 19 pages Business Plan for Amanda J. Hopkins Burlesque Lounge In this paper you will see my financial layout for beginning a Burlesque Lounge. I have included detailed layouts of the venue as well as given you an understanding of the financials for such a business. 2012 Amanda J. Hopkins Mandy’s Vixens & Speak-Easy Lounge 4/2/2012 Business Plan for Amanda J. Hopkins Burlesque Lounge Table of Contents 1. Executive Summary 2

Business Plan - 614 words

614 words - 3 pages plan? Multinational?International?Local? What's it opening time? 24 hours? Before Entering /Entering the market: Is the service easy to be substituted/imitated or not? Is there any barriers/ threats to entry the market? Political? Legal? Permission? Permission: business license? Epidemic prevention certificates? Do we need specialist knowledge to set up this business? What kind of legislation would affect us? Employment laws? Taxes

Business Plan - 1207 words

1207 words - 5 pages Burpies Business Plan By Cara Raske Welcome to Burpies, a company created by moms for moms. Burpies is a company that understands what one less step means in a busy mom’s day; a few more minutes for her family. The main goal at Burpies is to provide quality products that not at an affordable price. Our family here at Burpies invites you to invest in a company with tried and true values. For starters let’s explore the basic background of

Business Plan - 2591 words

2591 words - 11 pages Business Plan Orchid Boutique Shop…………. 1.0 Executive Summary Orchid Boutique Shop is a new apparel store that caters to the Bangladeshi people. As our name suggests our focus is to provide customized wear apparel and accessories, and position ourselves as the top retail store servicing this particular market. Our intentions are to obtain market share and become a central hub of shopping activity for the local population as well as

Business Plan - 3410 words

3410 words - 14 pages World Fuel Services Corporation (“The Company”) – PRISM (Singapore Office) 2011 Business Plan 1 PRIME OBJECTIVES • Expand the coverage of The Company’s Energy Risk Management business in Asia. • Enrich bunker services coverage in both the Physical Supply and Risk Management sectors. • Build up After-Sale-Services to strengthen strategic relationship with ship owners. • Form alliances with dealing room teams internally

Business Plan - 2493 words

2493 words - 10 pages Capsicum Habanero Pepper Spray Business Plan 1. Table of Contents 1. Table of Contents 3 2. Executive Summary 4 3. General Company Summary 6 4. Products and Services 9 5. Market Analysis Summary (Marketing Plan) 12 6. Strategy and Implementation Summary (Operational Plan) 16 7. Management Summary (Management and Organization) 20 8. Financial Plan 22 9. Appendix 27 2. Executive Summary Capsicum Habanero Pepper Spray is a

Related Papers

The Executive Summary Of The Business Plan

4309 words - 18 pages The Executive Summary of the Business Plan The executive summary is the most important part of the business plan. Many people will only read this. The summary in itself will not secure an investor, however, it can loose them. Quality - the quality of the summary must therefore be outstanding and you should pay particular attention to it. Obtain critical feedback from others on your drafts. Stand-alone - it is also used as a stand

Business Plan Of A Restaurant For The Wurst Family

2833 words - 12 pages Business Plan of a Restaurant for the Wurst Family Table of Contents 1.0 Executive Summary 3 2.0 Justification of the Restaurant 3 3.0 Non-Financial Analysis of the Restaurant 5 3.1 Products and Services 5 3.2 Market Segmentation 5 3.3 Strategies 7 3.31 Competitive Edge 7 3.32 Promotion Strategy 7 3.33 Management Summary 7 4.0 Financial Analysis of the Restaurant 8 4.1

Business Plan Essay 944 Words

944 words - 4 pages 20 Reasons Why You Need a Business Plan Written by Pete Kennedy Categories: * Business Planning 1. To prove that you’re serious about your business. A formal business plan is necessary to show all interested parties -- employees, investors, partners and yourself -- that you are committed to building the business. 2. To establish business milestones. The business plan should clearly lay out the long-term milestones that are most

Business Plan Essay 877 Words

877 words - 4 pages How to Write a Great Business Plan The following are recommended components of your business plan, although the order in which you write and present these sections can be subject to change: Executive Summary: This is the abstract of your business plan, a summary of everything you will say in greater detail in the ensuing pages. It spells out the content and goals of your plan, hitting all the highlights. This section is key if you are