Professional Documents
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20th June, 2011 Lecturer School of Business University of Information Science & Technology Dear Madam, We are writing this letter to inform you that I have prepared a Business Plan. The plan consists of the overview of a new business. I tried to gather information to make it specific and coherent. Through the process of preparing the plan, I managed to get some practical experiences. We have tried my best to make the plan as reflective as possible. Assertively, Business Plan will meet the expectations. We are determined to provide any further information or clarification, if necessary. Thank you. Sincerely Yours
Table of Contents
Table of Contents.....................................................................................................................................................2
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Acknowledgment
Preparing term paper is really a complex task. It requires enormous time & attention in every step of it. But it gave me a true feeling of creation & helped me to understand my ability to work. We are grateful to our course instructor Nurun Nahar Anee for giving us the opportunity to become proud students of her course. We are highly indebt to our course instructor for her proper guidance & providing me with the information regarding the business plan. We would also like to thank Mr. Tanin Rahman (Creative Head of Prowess Media) for his help regarding this term paper. Finally, we want to thank the almighty Allah for keeping me fully free from any disaster.
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Executive Summary
Fetch Pizza Corner is a new player in the restaurant industry. The restaurant is in a comfortable, familiar, large city that has a strong need for additional dining options. Bolstered by the need for more choices in family-oriented dining experiences, combined with the option for home-delivery, the restaurant is positioned to take advantage of the market need and serve the families in the Baily Road area. The population is rapidly growing with new subdivisions and young families moving to the Baily Road area. It is Fetch Pizza Corners strategy to exploit the first-mover opportunity and establish itself as the preferred pizza provider to the area. I believe a locallyowned restaurant is the best option to serve the rapidly growing population with a fresh, unique menu as opposed to a national chain franchise. This business plan calls for an exciting, profitable start-up year ahead with future forecasted growth as I meet the demands of the community. In all, this plan describes a healthy company with good growth prospects, looking to manage its orderly growth in the near future.
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Keys to Success
The keys to success in this business are: Delivering the customer value proposition. Marketing: promoting a new company, product, and delivery channels to a rural community. Product quality and consistency. Pricing effectively with respect to the project quality and customer value proposition. Family-oriented atmosphere with occasional nights of family entertainment. Management: products delivered on time, costs controlled, marketing budgets managed. There is a temptation to fixate on growth at the expense of profits. Reporting and controls in place for inventory and financials.
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Organization Structure
Managing Director:
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Regional Head (Dhaka): Regional Head (Chittagong): Accounts Manager (Dhaka): Accounts Manager (Chittagong): Service Manager (Dhaka): Service Manager (Chittagong):
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With the expected continued growth in the area, estimated at 7% annually, opportunities to serve Baily Road and its surrounding communities will increase. The company will sell predominantly to individuals, but it will also accept some catering jobs to individual parties, schools, and company functions in the Baily Road area.
Market Analysis
Potential Custome rs Dine-In or TakeOut Delivery Total
Growt h
7% 7% 7%
2008
13,86 0 5,000 18,86 0
2009
14,83 0 5,350 20,18 0
2010
15,86 8 5,725 21,59 3
2011
16,97 9 6,126 23,10 5
2012
18,16 8 6,555 24,72 3
CAGR
7% 7% 7%
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Market Segments
To promote our product we analysis the market and divided the market into some segments based on geographic, demographic, psychographic, and behavioral variables. We divided Bangladesh into three regions: Dhaka, Chittagong and Sylhet. People lived in these regions includes child, teenager and old people. Their age is between 1 to 100 years. All the people do not required that service. So based on age we get other segments. Based on age we make three segmentsbellow 25 years, between 25 to 59 years and more than 60 years.
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SWOT Analysis
SWOT Analysis is an effective method of identifying our internal and external environment summarized as our strengths, opportunities, weaknesses and threats and is the key to business planning success. Carrying out this in-depth analysis using the SWOT framework will show where we stand today with our business and will highlight our internal strengths and weaknesses, the opportunities available to our business and the threats that may be coming our way.
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Once this analysis is complete we will have to put various actions plans together to focus on what will make our business a success in the future.
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Opportunities
We are providing best quality pizzas in a lower price compared to other well known pizza houses, so we will have the advantage. Our location is one of our opportunities as we will get that much of customer as we target. Now- a-days people dont have that much time to take lunch or dinner at home or in weekend. They love to dine out, so its our opportunity.
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Product Strategies
Pizza is our main product. We will provide varieties of pizzas to the customers. We will also provide breadstick and drinks along with it.
Pricing Strategies
We are needed to charge affordable prices so that middle-class people can take our services. We will charge price of our services in such a manner that it will be comfortable enough for an average target consumer.
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Promotion Strategies
In the early stages of our journey, we will choose the print media, namely The Daily Star, Star Weekend magazine, star forum, Brand forum, sports magazines etc, because print media covers a large portion of our target consumers and this kind of magazines will make a great impact in our business. To our corporate consumers we will use mobile messaging as a promotion tool.
Place
To fulfill demands of our target consumers, we will set up four service centers, three within Dhaka metropolitan area: Baily Road, Gulshan-1 and Dhanmondi, and the other one in Chittagong. The branch will be in Khulshi.
Marketing Strategy
To drive customers to Fetch Pizza Corner we will employ several techniques outlined below. Advertising in The Daily Star, Brand Forum Magazine, Prothom Alo, and Anondo Alo Magazine will be used to promote the Grand Opening of Fetch Pizza
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corner. As part of the advertising, a coupon will be available to customers. Intermittent newspaper advertisements will continue throughout the year to promote upcoming events. Most initiatives will focus on the local Dhaka Based papers as the target of these papers is specifically the Baily Road residents. Additional marketing efforts will come in the form of onbox coupons for future purchases. Additionally, family-oriented events will be hosted by Fetch Pizza Corner to attract customers such as trivia nights, birthday parties, and prize giveaways. Frequent buyer cards will be employed to entice repeat customers. Fetch Pizza Corner will also sponsor a local Little League cricket team, and a Soccer team to publicize the restaurant within the community events. Future plans of working in coordination with the nearby video store to offer "bundle savings" if both pizza and video rentals are purchased will be pursued within the second year of operation.
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Future elements of the site can contain online ordering, if customers express an interest in this functionality.
Development Requirements
Fetch Pizza Corner website will be initially developed with few technical resources. A simple hosting provider, Our Local Web services, will host the site and provide the technical back end. The owner's expertise in professional Web development will lead this effort. The user interface designer will work with a graphic artist to come up with the website logo, and the website graphics. The maintenance of the site will be done by the owners. If the website rolls out future development such as newsletters and online ordering, the internal staff at Fetch Pizza Corner will design, implement, and execute the technology.
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Including Baily Road and its surrounding areas, no pizza establishments exist. One or two unpopular fast food outlets serve pizzas at Baily Road, but not as a primary menu item. These pizza outlets are in taverns which are not conducive to family-type atmosphere. No eating establishments in the Baily Road area provide home-delivery service.
Sales Strategy
Baily Road area has expressed its need for additional restaurants, specifically a desire for pizza. Because of this, there is pent-up demand for pizza in this area. We will expect a high rate of sales growth within the first 3 months as this customer desire is met. For the next year, we continue to focus on a growing presence in the community and advertising heavily throughout the community.
Process of Servicing
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Most importantly, this sort of service desires the perfect and peaceful environment to be effective. Four of the most essential feature of our environment is: Nice, cold and calm room. Slow, divine music. Dim lights, candles and lamps. Great smell and fresh, clean and natural aroma fragrance.
Employee
We will provide the best employees who are also well trained.
Physical Evidence
Our main target is our customer satisfaction. What kind of massage the customer needs, if we are to provide them with their needs at first, we will have to sort this out.
Job Analysis
Although it is a business firm, but we are not going to give away the controls of our company to outside people, means employee. That is why we will take a number of employees, who will be only involved in service but not in core decision making. As we will fill the managing director & other regional posts, initially we will only appoint accountants and service manager.
Job Description
The Regional Head will be under direct supervision of Managing Director. Other employees will be accountable to the Service manager. Although service manager will control the total service quality of the centre but the accountants will be liable to regional head rather than service manager.
Job Requirements
In order to get job to our organization, employees must have some requirements. These requirements are: Employees must be smart to look at.
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Having work experience of minimum 2 years in any well-known fast food shop Fluent in both Bengali & English languages. Ability to control any moment at any time. For administrative level for the respective job all of them should be graduated from own respective field of study
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Website Development Misc Expense Total Start-up Expenses Start-up Assets Cash Required Start-up Inventory Other Current Assets Long-term Assets Total Assets Total Requirements
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Start-up Funding Start-up Expenses to Fund Start-up Assets to Fund Total Funding Required Assets Non-cash Assets from Start-up Cash Requirements from Start-up Additional Cash Raised Cash Balance on Starting Date Total Assets Liabilities and Capital Liabilities Current Borrowing Long-term Liabilities Accounts Payable (Outstanding Bills) Other Current Liabilities (interest-free) Total Liabilities Capital Planned Investment Investor 1 Owners Additional Investment Requirement Total Planned Investment Loss at Start-up (Start-up Expenses) Total Capital Total Capital and Liabilities Total Funding
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$20,300 $2,040 $18,260 $71,900 FY 2005 $9,267 $0 $0 $9,267 $19,000 $28,267 $46,000 ($25,850) $23,483 $43,633 $71,900
$20,300 $3,876 $16,424 $92,364 FY 2006 $9,454 $0 $0 $9,454 $9,000 $18,454 $46,000 ($2,367) $30,278 $73,911 $92,364
$20,300 $5,528 $14,772 $120,616 FY 2007 $9,967 $0 $0 $9,967 $0 $9,967 $46,000 $27,911 $36,739 $110,649 $120,616
$43,633
$73,911
$110,649
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