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Supporting topics for discussion included in the business plan
This project section contains the following assignment areas:
Market StrategiesCompetitive AnalysisOperations and Management PlanFacility DesignFinancial Statements
(1)Market Strategies – Create Market Strategies for your new business. Suggested section outline for topics of discussion: 1.A general overview of the industry and segment you have selected2.A general overview of the theories, techniques and standard industry practices utilized to achieve results.3.A market analysisa.Define total marketb.Define target marketc.Define total feasible market4.Project total market share for your business5.Describe the positioning strategy for your business6.Describe the marketing plan for your businessa.Advertising Methodsb.Sales Tools (menus, web page….)c.Promotions and Activities (monthly calendar)d.Repeat customer or loyalty plan
(2)Competitive AnalysisIdentify the competitors your new business will face in the market you have chosen. Be sure to include the following: Suggested section outline for topics of discussion: Direct Competitors to your business (5 minimum)Indirect Competitors to your business (3 minimum)The strengths, weaknesses and vulnerabilities of these competitors [SWOT]
(3)Operations and Management PlanDescribe how the daily operations of your establishment will be conducted and managed. Be sure to include the following: Suggested section outline for topics of discussion: A general overview of the theories, techniques and standard industry practices utilized to achieve results.Details of your products and services (Note- you are likely to be focusing on one category of beverages but not at the exclusion of the others. With this in mind you should fully develop only options on the beverage category you are trying to sell)Food menuFinished document with prices and descriptions Beverage product mixBeer, wine and spiritsPricing Inventory format with item, cost, parBeer menuFinished document with prices and descriptionsWine ListFinished document with prices and descriptionsCocktail MenuFinished document with prices and descriptionsNon-Alcoholic beverage menuAny additional amenities you plan on offering for sale [retail items]Provide an example of an organizational chart [find a similar chart] for operation.Establish days and hours of operationCreate detailed staffing charts for all hours of operationNumber of employees, by positionRate of payDescribe the type of licensing needed to run the operationDescribe the type of training you will need to provideHighlight your basic SOP’s Standard operating procedures in regards but not limited to human resources, cash management, and inventory procedures. (Note- you may want to provide an example of an opening and closing shift procedural check list as part of this section)
(4)Facility DesignDescribe the existing exterior and interior spaces for your new business. Suggested section outline for topics of discussion: The exterior location; building material, street access, parking…The interior space; colors, lighting, materials….A schematic showing the square footage and general layout of the FOH and BOH (Note- The BOH should only represent the amount of square footage the focus on the schematic is on the FOH and the Bar area(s))The layout schematic should address all furniture, fixtures and equipment you will include in the FOH. A detailed description of these items should be included with pictures.Bar area(s) – in addition to the beverage selling areas which will be depicted on the general layout schematic a detailed bar schematic is required.
A separate detailed bar layout should address the operational functionality as well as the selling features needed to produce effective beverage sales. Discussions should include the use of the; front bar, under bar and back bar, customer food and beverage space requirements and service plan, and a detailed description of all the equipment that will be needed. (5)Financial Statements and DecisionsProvide financial data for your new business. Suggested section outline for topics of discussion: A general overview of the standard financial statements utilized to achieve business results.The form of ownership required. Discuss the different types of ownerships that are available for the business and choose one. Discuss why the pros and cons of this type of ownership as it relates to your business plan.A pro-forma income statement [opening budget] representing the business will use as an operating budget.A statement of cash flows for the first year of operations [Examples from similar types of business- Find examples and discuss]A balance sheet for the period ending with the first year of operations [Examples from similar types of business- Find examples and discuss]Any charts or graphs the reflect the data included in any of the documents above
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