John's Smoothie Bar Karen Oklahoma Oklahoma Business Plan (Term Paper Sample)

John’s Smoothie Bar Karen Oklahoma Oklahoma Business Plan
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Table of Contents1. TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc355050561 \h 42.Business Description PAGEREF _Toc355050562 \h 5Vision statement PAGEREF _Toc355050563 \h 63.The Market PAGEREF _Toc355050564 \h 7Marketing objectives PAGEREF _Toc355050565 \h 7Marketing Methods PAGEREF _Toc355050566 \h 7Advertising PAGEREF _Toc355050568 \h 7General market assessment PAGEREF _Toc355050570 \h 8Market targets PAGEREF _Toc355050571 \h 8The customers PAGEREF _Toc355050572 \h 9Competitors……………………………………………………………………………………104.Operations PAGEREF _Toc355050573 \h 11Plant and equipment PAGEREF _Toc355050574 \h 115.Management PAGEREF _Toc355050575 \h 146.Finance PAGEREF _Toc355050576 \h 15Financial objectives PAGEREF _Toc355050577 \h 15Finance required PAGEREF _Toc355050578 \h 15Assumptions PAGEREF _Toc355050579 \h 157.Strategic Implementation PAGEREF _Toc355050580 \h 19Vision statement PAGEREF _Toc355050581 \h 19Mission statement PAGEREF _Toc355050582 \h 19Goals/objectives PAGEREF _Toc355050583 \h 19Production PAGEREF _Toc355050585 \h 20Resource Needs PAGEREF _Toc355050586 \h 20Human PAGEREF _Toc355050587 \h 20Financial PAGEREF _Toc355050588 \h 21Sourcing Strategy PAGEREF _Toc355050590 \h 21Marketing Strategy PAGEREF _Toc355050591 \h 21Performance Standards PAGEREF _Toc355050592 \h 21Legal considerations PAGEREF _Toc355050593 \h 228.Milestone schedule PAGEREF _Toc355050595 \h 23
1.Executive Summary
John’s Smoothie Bar will be a joint where people can enjoy taking their smoothies in a relaxed environment. This business idea came into being from observing that there lacked joints that specialized in serving smoothies to their clients. Therefore, individuals have to go to restaurants so that they can have a smoothie. Creating a smoothie bar, with the single purpose of serving smoothies will be a new idea locally. This will definitely receive positive response from fruits enthusiasts as well as tourists seeking to have a taste of locally available fruits.
John’s Smoothie Bar aims at giving its clients an amazing experience where every client will be served according to their needs. Clients whose interest will be consuming healthy and low calories fruits and vegetables will be served healthy concoctions like they have ever encountered. The goal of John’s Smoothie Bar is to provide high quality services and products that will attract customers in Karen Oklahoma.
Social media like Facebook will be employed to ensure that products that can be offered in John’s Smoothie Bar can be appraised and accessed by clients from the comfort of their homes. John’s Smoothie Bar will be managed on the principle of working with integrity and providing quality services and products.
2.Business Description
The business will be located in Karen Oklahoma. The business will be involved in production of smoothies. It is a small business which will have one branch. John’s Smoothie Bar will be the name of the venture. The business premise will be located in Rafiki House, close to the Mont Blanc Entertainment Centre. The premise will be rented out from the owner. The business will have a medium sized room that is 30 square meters. Seats and tables will be put outside to accommodate clients that will prefer taking the smoothie in the premise. This will attract clients who have families and the clients who would like to use the premise to relax or study.
The business will be involved in the production of smoothies. This is a drink that is derived from the mixture of fresh fruit that is blended with yogurt, ice cream or milk. The drinks will be sold to clients near eating joints in department stores. The company has decided to package its products according to the clients’ needs. This is because clients purchase smoothies for various reasons. The clients who do so for health purposes will have their own packaging style. Their interests will be attended to by varying the size of containers they are served with as well as the ingredients in their smoothies. The clients who purchase smoothies for their sweetness will have their needs attended to by varying the size of the containers they are served with as well as the ingredients of their drink.
The company has one founder. At first, he conducted research by observing work practices in smoothie bars in other cities.
The smoothies will be an affordable product that is accessible to every individual in the population. The demand is expected to be high, especially when tourists are in town. The customers are expected to respond to the product positively because of its health properties and pleasant taste. The business is expected to grow as time passes. Other products are expected to be added. These include fresh fruits and mineral water.
Vision statement
To build a business entity that will meet its financial goals as well as the client’s needs efficiently by providing high quality healthy products and proper services.
* To produce high quality products
* To create new products
* To create healthy products
* To improve customer satisfaction through provision of high quality services
3.The Market
Marketing objectives
* To achieve an optimum profit margin
* To offer quality management and leadership
* To sustain long relationships with clients
Marketing Methods
Advertising
Word of mouth will be relied upon for advertising. This has been proven to be an effective marketing method for new business set ups. It is expected that a percentage of the tourists visiting will advertise the joint to their friends. This mode of marketing will rely on the quality of the services and products offered to the clients. The employees will have to dress professionally to maintain an acceptable business image.
Internet advertising will also be employed in websites that are popular with the residents around the area. Adverts will also be placed on websites that are popular among tourists. This includes websites that provide with articles concerning the tourist attraction sites in the area.
Social media like Facebook will be used to advertise the business. This will provide connection with clients from all over the world. This will also provide the clients with a space where they can post their comments freely at their own pleasure. The Facebook page will also provide future clients with a place to review how previous clients rated the services and products provided.
The business entity will also use customers’ feedback to structure how the management. They will be provided with an environment where they can give feedback about how they are treated by the entity. This feedback will enable the entity treat the clients in a pleasant manner. Their feedback will also be used for future marketing strategies. Feedback will be provided through written form on the internet. This is because the internet has a number of translating applications that can be used to decipher feedback from unknown languages.
General market assessment
The market will be characterized by mixed demographics. The clients are expected to be of mixed ages as well as genders. However, majority of the population is expected to be compromised of tourists, local people and office worker around the area.
The tourists are not of a specific age or gender. There are clear segments in the market. There will be clients coming to the business premise to buy smoothies for their health. Other clients will be coming to the premise to buy smoothie for their own pleasure and for enjoyment. The market is currently fulfilling the need to have organically grown fruits and vegetables. However, it is not sufficiently fulfilling the need to quantify the amount of calories in the drinks they make. The growth potential for the market is there. This is because not all the individuals of the population take smoothies to supplement their health. If they are sensitized about the practice of taking smoothie even though they are aware of the health benefits of fruits and vegetables.
Market targets
The business is expected to sell at least 75 000 cups of smoothie annually. The sales are worth USD $. 1.2 Million annually. To ensure that the returns remain high, there are a number of measures that will be taken. Ant frozen inputs will be purchased in bulk from wholesale stores as opposed to supermarkets. This will reduce the costs incurred as wholesales are cheaper than supermarkets. Fresh fruits are also an expensive venture. To mitigate this, futures will be drawn with local trustful vendors with a proper financial history. This will provide assurance that the fruits will be supplied in future at a cheap price. Effects of inflation will not be felt by any inflation. The surrounding enterprises will be ventures where tourists come to shop. The high quality services and products are expected to work towards retaining these clients. The pricing for smoothies would be in the range USD $ 200 – USD $ 500 and the production cost would be in the range USD $ 100-150, depending on the type of fruit used to make the smoothie.
The customers
The clients are expected to be of different ages as well as gender. This is because the product sold to the population is likable by members of the population. Both the young and old members of the society are expected to be the clients. However, the clients...