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Krispy kreme business plan - Assignment

   

Added on  2020-10-04

22 Pages7725 Words363 Views
Business Plan

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Part A: Justification of business idea......................................................................................1Part B Objectives of Krispy Kreme........................................................................................4TASK 2............................................................................................................................................5a) PESTLE analysis of Krispy Kreme....................................................................................5TASK 3............................................................................................................................................7Part A: Defining a launch event.............................................................................................7Part B: Preparing a budget......................................................................................................8TASK 4............................................................................................................................................9a) Marketing Plan of Krispy Kreme.......................................................................................9TASK 5..........................................................................................................................................15a) Strategic Implementation and choosing appropriate information system........................15TASK 6..........................................................................................................................................16a) Identification of supply chain for the Krispy Kreme.......................................................16CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19

INTRODUCTIONBusiness plan includes a complete statement of goals, objectives, mission and vision ofan organisation in order to achieve its desire targets (Wentzensen and Wacholder, 2013). Itcontains all the information such as background, objectives, informations, policies and procedureby which a firm can implement or execute its work by an appropriate manner. This reportanalysis the food habit and quality in Kingston University, UK. In which, there are large numberof students which have eating habit of junk food. It also presents that university does not arrangequality food products for their students. In order to achieve this, Krispy Kreme is taken as afranchise which provides quality of food products for their students.This report describes a complete business plan of Krispy Kreme in which the wholereport is classified into six task. In the first task, described a complete justification of a businesssuch as ideas, location, operations etc. In the second task, it describes a PESTLE analysis whichmake great impact on the chosen business. Third part determine the launch event of a businessand developing a budget for its effective growth. Fourth section describes the marketing functionsuch as objective, target markets etc. by which firm can promote its business. In the fifth section,it presents the decision-making process and at last in sixth section supply chain or statement arepresented in this report.TASK 1Part A: Justification of business ideaBusiness Idea: In present time, it is essential for a business to make or developappropriate ideas by which firm can satisfy the customer's need. In order to this, a business canset their goals and investment budgets while performing a particular business. The presentscenario describes the business idea of Krispy Kreme, in which they opens their new stall outsidethe university campus for encouraging eating habit in students. Furthermore, firm also want totake a franchise from Krispy Kreme and take a permission to establishes their stall in the campusand near the university.Sector: After taking franchise from Krispy Kreme, firm want to launch their store andoperate its activity in university campus. Owner of a firm focuses to provide quality foodproducts by an affordable price so that it can be easily purchased by the students. It can be said1

that all the activities such as products or services are provided for educational food and beveragesectors in order to encourage a healthy eating habit in student's mind (Thomas, 2014).Location: It is an important factor which make great impact in their operational activity.Location includes a complete planing of choosing the activity which attract the customers in alarge scale. Krispy Kreme launched it stall outside but near the Kingston University by which itcan attract the students and other people in a large number. Demographic analysis can be doneby the cited firm and determine the various facts such as preference, gender, locality etc. in orderto analysis the successful completion of work. Before opening it store, cited firm also analysisthe various challenges which make negative impact on their planned growth. For example:Krispy Kreme check the competitors in a locality which they want to operate its business andalso determine the distance with the university so that it can easily catch the students towardsthem.Operations: It includes various activity and functions which are performed by the KrispyKreme. Before opening their stall near the university, manager of the cited firm make effectiveoperation plan. It contain development stage in which manager can decide production workflowand availability of raw material. Firm also try to control on their food product's quality and alsomaintain the supply chain in which it can arrange the raw material from those suppliers whichprovides raw material in high quality with an affordable price.Competitors: It is a main elements which highly affects the company actual financialposition and its growth. While opening a new branch, manager need to analysis currentcompetitor's profile such as strength, weakness, objectives, marketing strategies that they wereused, market share and their respond with the new market (Bargain, 2013). They also identifythe potential competitors which make great contribution.Name ofCompetitorsStrengthWeaknessObjectivesMarketingstrategiesMarketshareRespondwhenKrispyKremeentersCinnabonIt has greatbrand andMostlyprovidesFirmbelieves toThey adoptfreeIt acquire13% marketWelcomingin nature.2

financialsupport.fast foodand peopleare nowhealthconscious.offersethical foodin a fairlyprice.sampling forattractingthecustomers.share in UK'sfoodindustry.Dunkin'sDonutIt is a smartmarketerwhich hasgreat brandfollowing. It is difficultfor them tomakechanges inpeople'seatinghabits.Itmainobjective isto create anddevelopattractiveanddiversifiedmenu.Slow musicandprovideswideshoppingchart.It is alargestmarketacquirewhich holds37% marketshare.Ready toface newcompetitionand switchnewstrategy.PoundBakeryIthaseffectivemarketingstrategywhichattract thecustomers ina large scale(WentzensenandWacholder,2013).They facecompetitionwith localbakeryshops.It mainlyfocus onprovidesbestcustomerservices asperthecustomer'sneed andchoice.CreatingOnline webpage.It make 10%marketshare in UKfood culture.NeutralGreggsFirm usedinnovativeideas andstrategies toretain thecustomersBy usingadvancetechniques,it increase inthe cost ofraw materialIts mainobjectives isto providescateringservices andunlimitedAdvertisementandonlinecommunication withcustomers.Firm alsomake greatmarketshare suchas 20% inUK'sFacing fearand makesomechanges aspertherequirement.3

by givingcoupon anddiscounts.which theywerereceivedfromsuppliers.eating menuin a fixedpayment ofamount.economy.Part BObjectives of Krispy KremeObjectives for Krispy Kreme: To establish a new structure, it is essential for a firm toset out their objectives by which it can achieve their desire goals. All the objectives is totallybased on the business's operational activity which is related to its planned growth. By the use oftheir set objectives, cited firm can execute the plan by framing efficient policies in order toattract the customers in a large scale. The four most important objectives which are mainlyfocused by the Krispy Kreme, can be classified as follows:Healthy and hygienic meals:It is important for the firm to provides variety of food whichis healthy and hygienic in nature. Before launching a stall nearby the university, Krispy Kremedetermine their first objective is to produce those food products which is tasty but healthy withfull of nutrient. Moreover, cited firm also want to provide organic foods that will be healthy forthe students with full of fibres and grains. Food court will also facilitate meats, fruits andbeverages as to provide all the necessary nutrition and essential vitamins.Promotion of tradition and culture: It is a second most objectives which is important forthe Krispy Kreme. It is essential for the cited firm to adopt traditional and culture way in theirpresence. In order to this, firm always try to promote Romanian and European culture forproviding meals and food items to the customers. The benefits to the 250 students that they willbe satisfied with the homely environment provided by the organisation. The various traditionalrecipes will help in generating new consumers and also promote the culture of these countries(Bargain, 2013). Profitability:Every organisation has their some profitability issues which is essential forthem to resolved it. Krispy and Kreme provides various kinds of food products and services witha good quality and also in an affordable price. All these process and activities helps them topachieve their desire goals and make good brand image in front of people. Hence, it is essential4

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