This business plan proposes setting up a food cart within a school campus. It includes an analysis of the food cart industry, competitors, target market, and environmental factors. The plan outlines products/services like burgers and salads to be offered at competitive prices. A social media and website based marketing strategy is proposed. The plan involves 3 personnel and obtaining licenses to set up the cart and operate legally within the school. Financial projections and milestones are included to track progress.
Hotels which purely operate with a commercial business purpose consider the customer is the king!’ And, if we believe this it is also important to know how to make them happy. Recent days customers expect lot of good services more than their expectations Hence, it is mandatory that employees approach and interaction with the guests play a predominant role in the satisfaction and retention of them. The study focused on identifying the customers’ perception towards the laundry and bar services that are provided by the leading star hotels in Salem city, Tamilnadu, South India from the 300 customers who had stayed in the said hotels. Descriptive research design with exploratory approach and non-scientific sampling method with purposive sampling technique was used in this study to get the actual perception of the customers. Concrete suggestions and measures to be implemented are suggested.
Food truck business or a restaurant on wheels has been gaining popularity as a concept in India, among entrepreneurs and consumers alike. In this article, we will take you through everything you need to know about starting a food truck in India.
Let’s start with these things:
Costs involved
Licenses needed
Benefits you can get
Points to keep in mind
Food truck marketing
Hotels which purely operate with a commercial business purpose consider the customer is the king!’ And, if we believe this it is also important to know how to make them happy. Recent days customers expect lot of good services more than their expectations Hence, it is mandatory that employees approach and interaction with the guests play a predominant role in the satisfaction and retention of them. The study focused on identifying the customers’ perception towards the laundry and bar services that are provided by the leading star hotels in Salem city, Tamilnadu, South India from the 300 customers who had stayed in the said hotels. Descriptive research design with exploratory approach and non-scientific sampling method with purposive sampling technique was used in this study to get the actual perception of the customers. Concrete suggestions and measures to be implemented are suggested.
Food truck business or a restaurant on wheels has been gaining popularity as a concept in India, among entrepreneurs and consumers alike. In this article, we will take you through everything you need to know about starting a food truck in India.
Let’s start with these things:
Costs involved
Licenses needed
Benefits you can get
Points to keep in mind
Food truck marketing
In this project, we provide an in-depth industry analysis of the quick service restaurant industry. As well as identifying macro factors that affect the industry as a whole, we analyze and compare what we found to be the top three competitors in this space. Through the weighting of our three key success factors that are recognized in the report, we made a decision as to which of these three competitors we see as best positioned for the future of this global industry.
Reliance Fresh a convenient store format, is governed by the Mukesh Ambani and is the most important part of Reliance Industries retail Business. Reliance Ltd. has planned to invest more than Rs. 25000 crores in the retail division.
It also comprises more than 560 reliance fresh stores all over the country. The outlet sells fresh fruits, staples, dairy products, fresh juice bars, groceries and vegetables. A distinctive Reliance Fresh outlet is around 3000 to 4000 sq. feet and accommodates catchment area of one to three Kilometers.
The first ever a Reliance Fresh store was established in Hyderabad, wherein the company, mainly focused on the fresh produced vegetables and fruits at comparatively low price along with an introduction of farm to fork theory.
This was the idea, which was anticipated by the company was to take the supply direct from the farmers and then sell straightaway to the consumers removing the middle-men off the beaten track.
The product details are listed below:
• Fresh fruits
• Vegetables
• Chocolates
• Confectionaries
• Cold drinks
• Freeze items like butter, ice-cream etc.
• House hold products
• Toilet items
• Spices and dry food
• Office stationeries
Found in the year 1988, we, KBK Plascon Private Limited, are one of the celebrated certified manufacturers, exporters, traders, suppliers, wholesalers and importer of a massive compilation of Industrial LDPE and HDPE Plastic Products. Our product series encompasses Trolley Wheels, Roofing Sheets, ABS Sheet, which adhere to the predefined industry standards and norms. Highly acclaimed for their tough construction, longer functional life, supreme finishing and minimal maintenance, our products are massively acclaimed among our prestigious customers, all across the world.
The presentation illustrates a novel model for collaborative crowdsourcing and other collaborative environments where IPR tracking and protection constitutes a key issue. After a comparison between different approaches for innovation and R&D, the new architecture is introduced, with a focus on problem solving activities. Particular attention is given to the relationships (scientific, social, economical, legal) between firms and participants to the sessions and among participants themselves. The study also investigates the complex IPR framework necessary to involve firms and to promote users’ participation exploiting simultaneously collaboration and meritocracy. The paper also presents an original software application tool for tracing and tracking the IPR generated in collaborative and Open Innovation environments. The software’s use and results are demonstrated through a case study.
Speciaal voor mensen met een afstand tot de arbeidsmarkt en die laag zijn opgeleid heeft SBCM een uniek opleidingsaanbod. Dit bestaat uit een groot aantal e-learningprogramma’s die beschikbaar zijn via Oefenen.nl/sw. Deze presentatie biedt een voorproefje van het brede aanbod.
Portrait du travailleur québécois moyen à travers l'analyse des grandes tendances du marché de l'emploi québécois : salaire, horaire, transport, langue, etc.
In this project, we provide an in-depth industry analysis of the quick service restaurant industry. As well as identifying macro factors that affect the industry as a whole, we analyze and compare what we found to be the top three competitors in this space. Through the weighting of our three key success factors that are recognized in the report, we made a decision as to which of these three competitors we see as best positioned for the future of this global industry.
Reliance Fresh a convenient store format, is governed by the Mukesh Ambani and is the most important part of Reliance Industries retail Business. Reliance Ltd. has planned to invest more than Rs. 25000 crores in the retail division.
It also comprises more than 560 reliance fresh stores all over the country. The outlet sells fresh fruits, staples, dairy products, fresh juice bars, groceries and vegetables. A distinctive Reliance Fresh outlet is around 3000 to 4000 sq. feet and accommodates catchment area of one to three Kilometers.
The first ever a Reliance Fresh store was established in Hyderabad, wherein the company, mainly focused on the fresh produced vegetables and fruits at comparatively low price along with an introduction of farm to fork theory.
This was the idea, which was anticipated by the company was to take the supply direct from the farmers and then sell straightaway to the consumers removing the middle-men off the beaten track.
The product details are listed below:
• Fresh fruits
• Vegetables
• Chocolates
• Confectionaries
• Cold drinks
• Freeze items like butter, ice-cream etc.
• House hold products
• Toilet items
• Spices and dry food
• Office stationeries
Found in the year 1988, we, KBK Plascon Private Limited, are one of the celebrated certified manufacturers, exporters, traders, suppliers, wholesalers and importer of a massive compilation of Industrial LDPE and HDPE Plastic Products. Our product series encompasses Trolley Wheels, Roofing Sheets, ABS Sheet, which adhere to the predefined industry standards and norms. Highly acclaimed for their tough construction, longer functional life, supreme finishing and minimal maintenance, our products are massively acclaimed among our prestigious customers, all across the world.
The presentation illustrates a novel model for collaborative crowdsourcing and other collaborative environments where IPR tracking and protection constitutes a key issue. After a comparison between different approaches for innovation and R&D, the new architecture is introduced, with a focus on problem solving activities. Particular attention is given to the relationships (scientific, social, economical, legal) between firms and participants to the sessions and among participants themselves. The study also investigates the complex IPR framework necessary to involve firms and to promote users’ participation exploiting simultaneously collaboration and meritocracy. The paper also presents an original software application tool for tracing and tracking the IPR generated in collaborative and Open Innovation environments. The software’s use and results are demonstrated through a case study.
Speciaal voor mensen met een afstand tot de arbeidsmarkt en die laag zijn opgeleid heeft SBCM een uniek opleidingsaanbod. Dit bestaat uit een groot aantal e-learningprogramma’s die beschikbaar zijn via Oefenen.nl/sw. Deze presentatie biedt een voorproefje van het brede aanbod.
Portrait du travailleur québécois moyen à travers l'analyse des grandes tendances du marché de l'emploi québécois : salaire, horaire, transport, langue, etc.
Cliff's Natural Resources is a mining company that was facing a serious downturn in success from 2014 to 2015. As a part of the Battle on Bay Case Competition, my team and I analyzed Cliff's to provide a strategic recommendation to turn around the company.
HYDRAULIC POWER GENERATING AND UTILIZING SYSTEMS
Introduction to fluid power system - Hydraulic fluids - functions, types, properties, selection and application.
POWER GENERATING ELEMENTS: Pumps, classification, working of different pumps such as Gear, Vane, Piston (axial and radial), pump performance or characteristics, pump selection factors- simple Problems.
POWER UTILIZING ELEMENTS: Fluid Power Actuators: Linear hydraulic actuators – Types and construction of hydraulic cylinders – Single acting, Double acting, special cylinders like tandem, Rodless, Telescopic, Cushioning mechanism.
Hydraulic Motors, types – Gear, Vane, Piston (axial and radial) – performance of motors.
(iCHEFTeam A) (DeVry Inc. MGMT 600 November.docxjoyjonna282
(
iCHEF
Team A
) (
DeVry
Inc.
|
MGMT 600
|
November 24, 2015
)
Industry Review
iCHEF is a convenient service presented to our customer through a mobile APP. We offer an array of Appetizers, Entrees and Desserts. The industry we are embarking on is the Food Service and Catering industry.Examining the food service/ catering industry, we’ve learned that this industry is on the rise. It is an industry that is expected to expand over the next five years. This industry will continue to grow and define its niche by being innovative, offering international cuisines and beverages, and using sustainable locally sourced produce. The industry has received a boost from an improving economy, as consumer spending is expected to rise at an annualized rate of 2.6% during the five years to 2020. Households, which account for over 50.0% of industry demand, are expected to bolster their demand for catering services as consumer conditions improve. Unemployment is forecast to decline over the next five years, while disposable income is expected to moderately grow. As consumer conditions improve, time-poor consumers are also expected to prefer to use catering services, rather than attempt to do it themselves.
Over the next five years, consumers will continue to demand higher-quality food, better food presentation and a wider menu selection with healthier alternatives. Many customers will also begin to seek out caterers that use organic and locally sourced foods. Menus will need to more thoroughly describe items, by methods such as listing ingredients, where they came from and how they were prepared. These new demands may force some operators to increase their purchase expenses, or choose to vertically integrate by owning and operating their own farms. Consumers will also demand more value-added services, such as decorations, floral arrangements and entertainment. Overall, the number of industry enterprises is anticipated to increase 1.2% per year on average to 11,320 households and businesses.
Industry profitability is expected to strengthen and stable over the next five years in line with rising demands of the consumers. However, profit growth will be limited by strong internal and external competition and forecast rising purchasing costs. As competition rises, it will become even more important for operators to define their niche and find a way to differentiate themselves from competitors, whether through services offered or quality of service. Food costs are forecast to increase due to strong emerging market demand and volatile weather conditions. The trend towards serving more innovative, exotic food and using locally sourced and sustainable produce will also increase purchasing costs for caterers. Wage costs are also expected to increase by 2.0% per year on average over the next five years to reach $3.0 billion, as higher-paid chefs and consultants are brought on to provide more complex fare.
Looking ahead the food service/caterers industry is in the mat ...
Running Head Conceptualizing in Business – Business Model and Str.docxjoellemurphey
Running Head: Conceptualizing in Business – Business Model and Strategic Planning 1
Conceptualizing in Business- Business model and strategic planning 2
Conceptualizing in Business – Waterboard Corporation
David Greenfield
BUS/475
July 27, 2015
Susan Horvat
Conceptualizing in Business – Waterboard Corporation
My new Company will be the Waterboard Corporation, which will be an international corporation based in the United States and operate in places like America, Caribbean, Africa, Asia, and Europe. This paper will discuss the mission statement and vision statement of Waterboard Corporation as well as the major guiding principles and values that the Corporation will apply the cut-throat competitive environment. Additionally, it will as well look at a division of Waterboard Corporation and then discuss the marketing strategies that will be applied by the company in trying to meet the unending needs of customers.
Water board Corporations will be dealing with agricultural services. Some of the activities that will take place in Waterboard Corporation include sugar production, citrus production, pork production and processing, commodity merchandising and flour milling (Hart 2003).
Proposed new Division for the company
The division that I want to create for Waterboard Corporation is the Cargo shipping of products across the globe. This division will enhance the transportation of the products of the company to different parts of the world. For the start of the business, the Company will own seven container vessels chartered to the corporation. Waterboard Corporation will have 900 employees particularly to this special division of Cargo shipping which will be working in various chain stores in the destined countries.
Alignment of the division to the Mission and Vision Statement
This division of the Waterboard Corporation will be customer focused and run in line with the vision and vision statement of the company. Waterboard Corporation will be a food producing and processing company which aims at offering high quality, fair priced foods and agricultural products that use natural ingredients (Hart 2003).We will view us as partners with our community, the environment, customers, and employees. Additionally, we are aiming at becoming a globally recognized corporation capitalizing the interest sustained in agricultural products across the globe. Above all, we are expecting to moderate our growth, annual profitability as well as maintaining a sense of pride and a good reputation. And for this, cargo shipping of our agricultural products will be a key tool that will help us to reach to the world, close to the consumers with our products thereby making our mission statement become a reality.
Our vision statement as Waterboard Corporation is to become a global company which clearly understands the needs of the customers across the globe by developing products and services which satisfies the interests and nee ...
12Business Name Fruitfit CompanyThe name of.docxdrennanmicah
1
2
Business Name: Fruitfit Company
The name of the company has been inspired by the core objectives that the business has to the customers. As the company is committed to providing healthy drinks which will serve as an alternative to commercialized high sugar beverages on the market. The company will provide non-alcoholic beverages based on fruits, herbs, and vegetables. Fruits will, however, make up the largest part of the business raw materials. The use of quality fruits to make healthy drinks has therefore inspired the name Fruitfit as the business name.
Mission Statement
Fruitfit Company is committed to providing healthy and achieve the highest level of satisfaction from our customers and build customer confidence in our products. At Fruitfit, we believe that what you put in your body matters a lot.
This mission statement is based on the mandate that the company has to its customers. Through the providing healthy beverages, the company will ensure that its customer's health matters concerns are taken care of. The responsibilities of the business are inspired by the recognition of living a healthy life by controlling what we consume.
Industry Trends
The global non-alcoholic beverage industry is estimated to be USD 967 billion. This is according to 2016 estimates done by market research studies. The industry is also expected to grow at an estimated rate of 5.7% through 2017-2025. This makes it a desirable business to venture into. In Thailand, the non-alcoholic beverage industry can be divided into the sectors of carbonated drinks, bottled water, fruit and vegetable drinks, performance drinks, energy drinks, and smoothies. The company will primarily operate in the fruit and vegetable drinks. This is especially a good time for the business as changes in the market have indicated that customers are shifting from carbonated drinks to healthy drinks (Helms & Nixon, 2010). As a result, the categories of drinks which offer health benefits to the customers are experiencing constant growth rates over time.
Strategic Position
In the order to properly position the company effectively in the market, the company will adopt a value-based positioning strategy. The company is committed to providing healthy drinks to customers. This comes at a time when the global market is becoming more conscious of the importance of healthy living. Fruitfit Company aims to provide healthy drinks which have been produced using quality raw materials. The company sources are raw materials from the local farmers whereby they are able to get the highest quality fruits and vegetables.
Distribution channels
As the company will be operating in an industry which has stiff competition, it will be necessary to ensure that the products of the company are brought as close to the customers as possible. As a result, the company will adopt a well-networked distribution channel which will ensure coverage of a wide geographical area. The company will have a central point of.
I will provide you with the linkurl and user name and password..docxwilcockiris
I will provide you with the link/url and user name and password.
Running Head: NEW PRODUCTS AND SERVICES BY WALMART 1
NEW PRODUCTS AND SERVICES BY WALMART 3
New Products and Services by Walmart
New Products and Services by Walmart
At the moment, various organizations are satisfied with the services that they give their customers at the current moment. There are other companies, however, that are now expanding their services by opening up branches and coming up with new products in order to offer more products and services to a large number of customers. To achieve this, these firms are trying to come up with creative ideas that can benefit the organization more, cost-effective, and more productive so as to meet the needs of the consumers (Gorevaya, & Khayrullina, 2015). Walmart is an example of a firm that can develop another division of the company which would implement another and creative idea to give a variety of products and services to the potential customers. This division would meet all the other clients' needs unlike the same products offered by the competitors. Through this division, a plan of action that the enterprise can take to be successful in the future days is shown. The vision, mission, and how the new division will work is in line with the organization's objectives and vision. The new division also follows the techniques of working as outlined in the vision, mission, and the features of the firm. The directing standards and the characteristics of the company will be given as part of the culture, social duty, and morals.
Since the cost of working as a whole firm has been rising and also the salaries given to each employee has been increasing as per the law, many organizations including Walmart are trying to create the divisions of these institutions. Through these divisions, the firms can be in a position to raise their values and they can easily strive towards meeting the vision and the set goals of the company. For the past several years, Walmart has been intending to grow the fast food business (Areal, McIntosh, & Sheppy, 2016). Varieties of fast food products will be offered in this division including hamburger, pizza, sandwiches, and others. All these will be served at different Walmart stores found in different regions of the world. The unique aspect of the Walmart fast food store is that a robot will be involved in the creation of nourishment. A mechanical director will also help in saving the organization a lot of expenses. The use of a mechanical director, HyperActive Bob, in the minimization of costs has been experimented within the organization and has proved to be effective. The new and the already existing design have to be consistent with the company's statement of purpose.
This new division will be of great help to the organization as it will help in providing high-quality and affordable. The mechanical director will also be able to run the sustenance creation in the fast food stores and.
Running Head SWEET BLEND BUSINESS PLAN25SWEET BLEND.docxjeanettehully
Running Head: SWEET BLEND BUSINESS PLAN
25
SWEET BLEND BUSINESS PLAN
Alita Heckstall
Assignment 4 Bus 599 Strategic Management
Dr. Andrea Banto
Strayer University
September, 2019
EXECUTIVE SUMMARY
The Sweet Blend Company is a nonalcoholic beverage company that will be located at San Francisco, California. It was first started as a small scale business with the main clients being the local community. The location was chosen due to the vast market potential from the large population, which also reduces the cost of operation incurred in transport and labor outsourcing. The Company aims at creating a significant impact on the market by creating healthier products than the competitors. The healthy products choice is because of the observation that more people are turning to healthy products and doing away with products that are not beneficial to their health.
The nonalcoholic beverage industry has seen an influx of competitors in the recent past with more companies switching towards the production of these products. Giant companies like Cola and Red bull have been diversifying their products to include more health beneficial products which have enabled them to maintain the market niche that they had. However, Sweet Blend will focus on the production of top-notch, quality juice products, which will be a distinguishing factor of our products.
The leading target group for our products has been identified as the working class in the entire population, which falls between the ages of 24 to 54. This choice was mainly facilitated by the fact that this group contains the most significant number among the total population of the county. Apart from providing a substantial amount of consumer market, it is also worth noting that this number contains a high number of the working class in the population, thus influencing their consumer behavior positively.
The main competition in the area will be Red Bull and Monster Energy. Monster Energy, having been established in San Francisco coupled with the low prices for their products, has managed to create high-level customer loyalty which it has been able to maintain through a dynamic online presence thus creating an online community of consumers. Red Bull, on the other hand, has increased its portfolio to include a series of other nonalcoholic drinks that are more favorable to consumers' health, for example, the Red Bull apple drink. However, due to the history of the competitors on the use caffeine and lack of product diversification, the Company will be keen to specialize in the production pure juices with the only necessary additives like preservatives and water. The Company is going to manifest on the reliable name and roots it had from the community where they first started selling to create a strong brand name.
Sweet Blend, as a company formed during the digital error, will be keen to utilize the various social media platforms like Facebook, twitter, and Instagram to promote the product and the C ...
Business Plan - Food Truck
EXECUTIVE SUMMARY
Problem Statement
Business Preposition
Products and Services
Vision Statement
Mission Statement
Tagline
Market Analysis
Industry Overview
Market Trends
Target Market
Competition Analysis
Porters 5 Forces of Competition
Sales Forecast
Sales Strategy
SWOT Analysis
Pricing Policy
Advertising
Financial Plan
Organization Plan
Business Structure
Running head CASE 51CASE 52Case 5NameClas.docxtodd271
Running head: CASE 5 1
CASE 5 2
Case 5
Name
Class
Institution
Date
Case 5
Key Partnerships
Key partnerships are the relationships that a business has with other business entities, government entities, or other entities that help the business model work. These can be the relationships that a business has with suppliers, manufacturers, and business partners, just to mention a few (youtu.be). Businesses usually form partnerships for various reasons. One of the reason is to optimize expenses. The other reason is to mitigate risk and uncertainties. Business entities also form partnerships to acquire unique resources.
Green Drive Logistics will form strategic alliances with manufacturing entities. These entities will be producing a part of our business product that we may not be able to produce. Green Drive Logistics will also form partnerships with its suppliers. We will build reliable relationships with our suppliers while incorporating vital characteristics such as quality, commitment, and trust to ensure a successful business model.
When forming the partnerships, Green Drive Logistics will keep in mind the following factors:
Clear partnership Agreements: We will ensure we have the right partnership agreements drafted as well as legal counsel.
Defining Expectations: Most of the time new entities fail to establish their expectations leading to so much conflict and confusion afterwards (Belyh, 2015). Green Drive Logistics will, therefore, establish its expectations and share them openly with the partners.
Win-Win Situation: We will also ensure that there is a Win-Win situation for the partnerships to be sustainable and healthy.
Impact on the Customers: When forming the partnerships, we will evaluate our value proposition and our key resources and ensure our partners are filling the gaps in either.
Selecting Partnerships: We will also ensure we select the right partnerships. As we all know some partnerships may appear profitable in theory but fail to kick off practically. Additionally, changes in the business context can also make some partnerships irrelevant. In such situations, it is important to terminate these partnerships to avoid further losses and wastage of resources.
References
Belyh, A. (2015). Key Partners in Business Model Canvas. Cleverism. Retrieved from: https://www.cleverism.com/key-partners-in-business-model-canvas/
https://youtu.be/IP0cUBWTgpY
Running Head: Business Model 1
Business Model 3
Student:- Reem Alogaidi
Instructor:- Eric Westreich
Course Title:- ENTREPRENEURSHIP
Date:- 05/30/2020
Business model describes the relationship between the elements and factors that make the business functional. In this discussion, we shall highlight two components of the business model with regards to Green Drive Logistics. The discussion shall highlight the manner in which these components appear in the business aspect of the organization. The two components to be discussed are Key Resource Type.
2. Table of Contents
Executive Summary ...................................................................................................................... 3
Introduction ................................................................................................................................. 4
Industry Analysis .......................................................................................................................... 5
Overview of the Industry ........................................................................................................... 5
Mapping ............................................................................................................................... 5
Perceptions........................................................................................................................... 6
Industry Growth ....................................................................................................................... 6
Industry Trends......................................................................................................................... 6
Major Consumers ..................................................................................................................... 7
Target Market........................................................................................................................... 8
Competitor Analysis...................................................................................................................... 8
Competitive Threats ..................................................................................................................... 9
The Venture ............................................................................................................................... 10
Product/ Service ..................................................................................................................... 10
Price ...................................................................................................................................... 10
Place ...................................................................................................................................... 10
Promotion .............................................................................................................................. 10
People.................................................................................................................................... 10
Process................................................................................................................................... 11
Physical Evidence .................................................................................................................... 11
USP ........................................................................................................................................ 11
Environmental Analysis (PESTEL) ................................................................................................. 11
Political .................................................................................................................................. 11
Economic ............................................................................................................................... 11
Social ..................................................................................................................................... 12
Technology ............................................................................................................................. 12
Environmental ........................................................................................................................ 12
Legal ...................................................................................................................................... 12
Marketing Plan ........................................................................................................................... 12
Operational Plan......................................................................................................................... 13
Financial Analysis and Projection ................................................................................................. 13
Milestones ................................................................................................................................. 14
Conclusion ................................................................................................................................. 14
3. References ................................................................................................................................. 15
Appendix 1: Detailed Projections ................................................................................................. 16
Appendix 2: Management Resume .............................................................................................. 25
Executive Summary
Main purpose of this assignment was to work at next stage following idea generation. The
assignment tends to draw on an original idea and create a practical business plan drawing on
various aspects such as business environment, financial sustainability, legal requirements,
marketing and operational plans.
4. In this context, very first step has been taken by conducting a comprehensive industry review.
While doing this, various sub aspects such as target market, industry growth, industry trends,
opportunity in the industry have been described in detail.
Business environment has been scanned with the help of established tools such as PORTER’s
Five Force Model of Competition and PESTEL Analysis.
Financial sustainability of the business has been verified by evaluating available startup
capital against various expenses such as purchasing a food cart, stationary, getting legal
licenses etc. Breakeven point and profit calculations have been made on a per month basis.
Finally, a plan to market the service and its operability has been drawn by deploying the
marketing mix of the service.
Introduction
Food carts more closely resemble mobile kitchens that are capable of being set up on the
street and facilitating street food for pedestrian traffic (Baumol 2012). These food carts are
extremely common among all major cities and towns and make ample profit as they offer a
great variety of food at an affordable price (Baumol 2012). In earlier days, the concept of
food carts brought ugly images of standard grey trucks that sold extremely unhealthy food
full of calories. This concept however has completely taken a back seat with popular
5. restaurants and chefs adding these carts to their service menu for added revenue (Baumol
2012).
Drawing inspiration from this concept, we got motivated to provide this service within our
school premises and facilitate food products such as chicken burgers, beef burgers, fish
burgers, fries, hotdogs and fresh salads. We acknowledged the fact that our biggest
competitor is the school cafeteria which already has these varieties on board. However, the
school cafeteria is operational only during certain hours and makes these food items available
only during its lunch hours. Also, since the cafeteria serves a large population, we have often
heard negative reviews regarding quality if food served.
In this context, mission of our organization would be to comply with highest professionalism
standards by promoting high customer satisfaction. This would be fuelled by our urge for
constant innovation, providing top quality products and excellent service.
This mission would be complimented by our vision to be soon widely recognized as a food
cart that offers quality food and excellent service at an affordable price. We also see
ourselves as upholding a constant profit margin and being known for our performance.
Our organization would seek to foster a performance based culture. Since, the organization
would only have three employees (me along with two other friends) we would
comprehensively read up on norms of professionalism and customer service. We would also
rely on our existing knowledge about dealing with individuals.
Since this is a start-up venture, our first step would be to get licensed. We would need
certificates from the health department in order to prove that the food we provide is hygienic
and compliant with health standards. We would also have to overcome parking restrictions
and avail permissions from our school authorities. Other legal requirements would include
getting the cart registered with the state department and filling out tax regulations.
Industry Analysis
Overview of the Industry
Mapping
A database for the number of mobile food handlers was accessed with the help of school
authorities in order to map the total number of active carts serving customers in the San
6. Fernando Valley. Drive through coffee carts and other inactive carts were not considered for
the purpose of mapping. We were unable to determine the precise location for a number of
carts due to incomplete address information. Mapping with the help of Google Maps revealed
a total number of 195 stationary and mobile food carts in neighboring areas.
Perceptions
Secondary data was collected regarding perceptions of people about these mobile food carts
with the help of school databases. Data analysis revealed that food carts were considered as
an economically and commercially viable alternative by pedestrians. Data also revealed that
these carts promoted livability and economic development in their neighborhoods and thus
were profitable to the community as a whole.
Industry Growth
Last two years collectively have witnessed huge amounts of growth in the Food Cart
Industry. According to the ‘Intuit Research Report’ 2020, the industry is expected to generate
combined revenue of $2.7 billion by the year 2017 (NRA 2004). Reports also suggest that
this is a four times increase from the current estimated figure of $650 million in the year 2012
(NRA 2004). Estimates for the current year have been provided by National Restaurant
Association. Emergent Research in collaboration with National Restaurant Association
interviewed 272 regular food cart customers in order to reach the estimated figure (NRA
2004). Food cart owners were interviewed with the help of phone or email. These interviews
were conducted in the San Francisco area and nearing suburbs.
Industry Trends
Many powerful trends are reflected in ongoing growth and success of the industry. Following
is a representation of these trends (NRA 2004):
Value, Speed and Quality- According to research data, these three are the most sought
after attributes by any customer seeking service at a fast food or quick serve restaurant.
Survey results of the year 2012 as published by the National Restaurant Association
suggests that food carts often succeed in outperforming traditional food restaurants when
it comes to delivering these attributes. Food offered by these carts is fresh as most carts
cannot afford to store food products over a period. Also, since their operational procedure
is standard (with a fixed menu), their speed of delivery is great.
7. Local and Fresh Food- A research conducted by the Hartman Group suggested that
these food carts have caused a national shift towards the usage of fresh food materials.
Unlike traditional fast food restaurants which have an inventory of their own, these food
carts bank on fresh everyday purchases of raw materials. Also, menu provided by these
food carts is highly localized and flexible unlike chain fast food restaurants.
Local Affinity- Research reports also suggest that these food carts foster economic
developments in their neighborhood thereby increasing livability of the area as a whole.
Part of this is facilitated by customers who extend their full support to local businesses in
their area. This according to customers increases their sense of belonging to a local
neighborhood. Customers also believe that their interactions with local food cart owners
on everyday basis foster fruitful and long term relationships thus making the entire
community a more livable place.
Sustainable and small- Food carts present a considerable challenge to a popular belief
that quality depends on size of restaurant. Modern food carts have outperformed chain
fast food restaurants in providing quality despite their compact size. These food carts also
stress their sustainability as their USP. Taking inspiration from the food cart business
model, chain restaurants have acknowledged the fact that being small in size provides
flexibility without having to compromise with quality.
Speed- Quick service segments (for example Chipotle) have registered the maximum
amount of growth in past few years. The quick service segment in the restaurant industry
has also established its reputation for providing a better atmosphere and food quality than
traditional restaurants. Food carts which form an important part of this segment provide
an extremely viable alternative for customers who are time challenged and need easy
accessibility. Speed of service provided by these food carts also enables them to serve
wider customer segments than traditional restaurants.
Major Consumers
Major consumers of the industry are students and lower and middle level corporate
employees. These consumers are commonly characterized by being short of time to go to an
established restaurant and having leisure time to spend on a meal. Since these consumers are
short of time, they are not willing to travel to great distances in order to grab a meal and
hence are looking for options that are easily accessible. In addition, these consumers are not
willing to spend a great amount on their meal. Average spending of these consumers per meal
is believed to be between $5-10.Lastly, most of these consumers are single or living away
8. from their families. As a result, they do not have the time to cook and bring their meals from
home.
Target Market
Target Markets segments are groups of individuals who can be characterized on the basis of
common factors such as age, demographics, sex etc (Sandberg 2008).
Our target market comprises of on campus students of our school as well as faculty members
and administration staff. Our service would also be available to perspective students who
come for a campus visit and visiting faculty members. At this point in time, our services
would exclude local pedestrians from outside the school and neighboring areas. Following
are the characteristics of our target market:
Age groups: 17-30, 45-60
Demographics: On campus students, faculty members and administration staff members
i.e. individuals with access to the San Fernando Campus
Spending ability: $ 20-$30 per meal
Competitor Analysis
Following are the major direct and indirect competitors of our food cart:
School Cafeteria
Hot and Tasty Food (sells food products right outside school)
Despite tough competition from within and outside the school, our service would be able to
sustain itself and generate profits due to the following factors:
Competitive Pricing- Our food offerings are priced lower than the school cafeteria (For
example a chicken burger at the school cafeteria is available for $25 while we price it at
$20). This is possible because of our streamlines supply chain.
Ease of Access- We would like to locate our food cart so that it is located closer to
classes and the administrative block. This would encourage students and staff members
to quickly grab food supplies in between classes.
Timing- Unlike the school cafeteria and our outside school competition, our service
would be operational from 9am until 9pm and all items on the menu would be made
available at all times.
9. Quality and Service- We would strive to comply with highest quality and professional
standards.
Local contacts- since we are a part of the school, we have local contacts that we would
deploy in order to gain a competitive advantage.
Competitive Threats
These can be explained with the help of PORTER’s five force model of competition that was
originally drawn by Michael Porter (Baumol 2012). According to this model, competitive
threats to any business can be placed in five major categories (Baumol 2012):
Threat of Substitutes
New Entrants
Rivalry among existing players
Supplier Power
Buyer Power
These threats are better explained with the help of the following diagram:
New Entrants
Success of our service might encourage
others to enter the market with a different
range of products or a better business model
thus intensifying competition for us
Industry Rivalry
Our service and our competitors might enter
disagreements or intense rivalry over several
issues such as prices, timing, target market
segments etc.
Substitutes
Fig 1: Porter’s Five Forces Model. Source of Diagram: (Shapero & Sokol 2002)
This treat might arise in the form of school
cafeteria or Hot & Tasty foods adding new
products to their menu that offer better
value for money without compromising
taste.
Buyer Power
Buyers might be able to find food products
priced within the same range and of the
same quality in their vicinity and hence
might bargain for lower prices.
Supplier Power
Suppliers might increase the prices of raw
materials/ fresh foods that we buy from
them thereby decreasing our profit margins.
10. The Venture
Product/ Service
The planned venture includes setting up a food cart inside the premises of School of
Accounting and Management San Fernando. Food products that would be included in the
menu at the moment are: Chicken burgers, beef burgers, fish burgers, fries, hotdogs and fresh
salad. Services would be provided in the form of professional conduct and good speed.
Price
Following table highlights prices of our products:
Food Products Price in Dollars ($)
Chicken Burger 20
Beef Burger 25
Fish Burger 25
Fries (per portion) 10 and 15
Hotdog 15
Fresh Salad 25
Table 1: Price of Food Products in the menu
Place
School of Accounting and Management Premises
Promotion
Following promotional tools would be used:
Social Media
Website
Pamphlets
Direct Mail
Posters
People
A total of three personnel (me along with two other friends) would be involved in the
venture. The tree of us would be responsible for management of everything including
planning, arranging for funding and operations.
11. Process
First, we would obtain all required legal permissions for setting up the service. This would be
followed by finalizing a location for the food cart and obtaining permissions from school
authorities. Funding shall be arranged for the project followed by contacting suppliers and
signing bonds of service. A detailed plan would be worked out in order to market products
sold by our food cart.
Physical Evidence
This would be present in the form of a food cart within the school premises.
USP
USP of our service would be an especially available delivery option in school premises and
within 1 mile of school premises. Customers would be able to call us or log in to our website
and either preorder food to be available at a certain time for pickup or they can ask us to
deliver it outside a certain class.
Environmental Analysis (PESTEL)
Several factors in the macro environment of a business are responsible for impacting business
decisions made by management of any organization (Aldrich & Zimmer 2006). The model
consists of six different factors namely Political, Economic, Social, Technological,
Environmental and Legal and seeks to analysis the business environment of an organization
(Aldrich & Zimmer 2006).
Political
Political environment of the organization would be concerned with administrative decisions.
Some members in the school administration might be against the venture and might doubt its
success. These members might create problems in the venture. Other political considerations
include new laws by the government in favor or against food carts.
Economic
Economic Issues in context of the venture would be concerned with making financial
arrangements. Economic issues can also be realized in the form of deciding prices at which
raw materials and food products would be obtained from suppliers. Lastly, consumers might
find food prices to be high considering that it is a food cart. This might negatively affect our
12. business. On a macro level, economic issues would arise in the form of changes in tax rates,
inflation, imports of food products etc.
Social
Social environment of the organization would be constituted by social trends that are
prevalent in the society. Future might witness people losing interest in food carts or they
might find another alternative that is equally viable. These factors would negatively impact
business decisions.
Technology
In today’s technology savvy generation, technological innovations take place on everyday
basis. Technologies related to food preparation, storage and delivery might witness
innovation causing all food cart owners including us to adopt these technologies in order to
sustain the business. This would impact the budget and other decisions.
Environmental
This category includes changes in the weather, global climate, natural calamities etc. We
assume that this category would not significantly affect our business in the near future.
Legal
This category deals with the legal environment in which our firm would be operational.
Legislative changes made by the government might impact the organization’s behavior.
Marketing Plan
Since this is a startup venture and we would need funds for buying the cart, getting licenses,
housing machinery and paying suppliers, we cannot expect the marketing budget to be very
high (Allen 2006). Following methods shall be adopted in order to market the product:
Social Media- Popular social networking websites such as Facebook and Twitter
would be tapped for marketing and promotional purposes (Martens 2007). A fan page
would be created and friends and associates on campus would be invited to like the
page.
Website- A website would be created for the food cart and blog posts would be linked
to social media.
13. Direct Mail- As students of the school, we have access to our localized groups of
students and staff members. (Martens 2007) We would directly email them with the
proposal and invite them to try out our services.
Special Offers- We would launch special offers (such as heavy discounts on first 100
purchases).
Pamphlets- We would distribute free pamphlets within the school in order to make as
many people as possible aware about our services, menu and prices (Martens 2007).
Posters- We would put creative posters regarding our services in various places
within school premises such as common areas, game rooms etc (Martens 2007).
Operational Plan
The organization would operate out of a single food cart that we seek to set up through this
venture. Timings of operation would be from 9am to 9pm. Also our services would be
available 6 days a week (i.e. Monday to Saturday). The food cart would remain closed on
Sunday as there are no classes and most of the times no faculty members on campus.
The website would be operational even on Sundays and can be used by students in order to
preorder their food to be ready and available at a specific time.
Customers would also be able to call us on our numbers and preorder for a specific time.
Delivery calls would have to be made at least an hour in advance.
Financial Analysis and Projection
Following is a summary of Financial Analysis and Projections:
Startup Cost
14. Cost of Trucks $ -100000
Stationery $ 5000
Working Capital $ -5,000
Total Fixed Cost $ -100000
Average Selling Price $ 19
Average Variable
$ 7
Cost
Average Contribution $ 12
Break Even Point
(units)
$ -8,333.33
Hence the company would start making profit at the end of four months.
Table 2: Summary of Financial Projections (* For detailed projections and Sales Schedule
please refer Appendix 1)
Milestones
Following are the expected milestones of the venture:
Preparing a final plan
Getting the plan approved by university authorities
Arrange for funding
Get the required legal licenses
Buy food cart and machinery
Market product and services
Begin Operation
Conclusion
The launched service longs to the upcoming quick service sector of the restaurant industry.
This particular segment in the industry has demonstrated a tremendous growth in the past few
years and the growth rate is expected to constantly increase in the future. Food carts have
15. succeeded in grabbing a special place amidst this segment due to their flexibility, quality and
speed of service.
In accordance with this increase in demand, we have proposed to set up a food cart within our
school premises. Despite tough competition from the school cafeteria and another service
located right outside the premises, we propose that our business would not only be able to
sustain but generate constant profits owing to its unique aspects.
References
Aldrich, H., & Zimmer, C, 2006, Entrepreneurship through social networks, University of
Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical
Research Reference in Entrepreneurship
16. Allen, K, 2006, Launching new ventures: An entrepreneurial approach, Houghton-Mifflin
Company, Boston
Baumol, W. J, 2012, Entrepreneurship and a century of growth, Journal of Business
Venturing, 1(2), 141-145
Martens, M, L, 2007, Do the stories they tell get them money they need? The role of
entrepreneurial narratives in resource acquisition, Academy of Management Journal, vol5, pp
1107-1132
National Restaurant Association (US), Research Dept, & National Restaurant Association
(US), 2004, Restaurant industry forecast, National Restaurant Association
Sandberg, W, R, 2008, The use of verbal protocols in determining venture capitalist’s
decision process, Entrepreneurship theory and practice, John Wiley, New York
Shapero, A., & Sokol, L, 2002, The social dimensions of entrepreneurship. Encyclopedia of
entrepreneurship, 72-90
Appendix 1: Detailed Projections
25. Appendix 2: Management Resume
CHRISTOPHER BACON
4 Buttermilk Court
Poughkeepsie, NY 12601
914.555.2665
Objective
A position in catering, event planning, or convention services.
HIGHLIGHTS
• Three years experience operating own catering business.
• Educated in culinary arts and communications.
• Experience planning dinners and other events.
• Good communications skills, particularly in promoting or selling an idea.
RELEVANT SKILLS AND EXPERIENCE
Sales and Promotion
• Helped prepare promotional materials for clients of public relations firm.
• C onceived and implemented promotional campaign for Culinary Institute of America (CIA) externship program
with culinary magazines and journals.
• "Pitched" vacation packages for country inn and resort in New York State.
Catering and Event Planning
• Operated successful catering business for groups of up to 75 people.
• C reated custom-designed menus for all clients.
• Arranged dinners, luncheons, and receptions at public relations firm.
Organization and Leadership
• Secured financial support of Cook & Baker Corp. and services of Art C enter at SUNY -Cortland for development
of promotional materials for fundraiser.
• Assisted chef-instructors with course presentations for CIA's Continuing Education Division.
• Served as group leader and student council member at C IA.
Catering and Event Planning
• Helped prepare promotional materials for clients of public relations firm.
• Conceived and implemented promotional campaign for Culinary Institute of America (CIA) externship program
with culinary magazines and journals.
• "Pitched" vacation packages for country inn and resort in New York State .
WORK HISTORY
• Test kitchen extern, Good Taste magazine, New York, NY Spring 2000
• C ooking extern, Mama Rosa's Gourmet Market, Fishkill, NY Fall 2000
• C aterer, self-employed, Albany , NY, and Poughkeepsie, NY 1995-1999
• Administrative assistant, C olby & Gruyere Public Relations, Albany, NY 1993-1995
26. • Promotions intern, Strawberry Fields Farms, New Paltz, NY Summer 1992
• Line cook, The C ider Press Tavern, C ortland, NY 1991-1992
• Server, Applejack's C afe, C ortland, NY 1989-1991
EDUCATION
• Associate in Occupational Studies, Culinary Arts, The Culinary Institute of America , Hyde
Park,
Spring 2001
• B.A., English, State University of New York at C ortland, C ortland, NY