Business Plan of Coffee Roasting Business : Report
This assignment requires students to create a business plan for a new product or service, including market analysis, target market identification, marketing strategies, financial plan, and identification of critical risks.
12 Pages3312 Words246 Views
Added on 2020-07-23
Business Plan of Coffee Roasting Business : Report
This assignment requires students to create a business plan for a new product or service, including market analysis, target market identification, marketing strategies, financial plan, and identification of critical risks.
Added on 2020-07-23
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BUSINESS PLAN: A COFFEEROASTING BUSINESS
TABLE OF CONTENTSBACKGROUND.............................................................................................................................1STEPS INVOLVED IN COFFEE ROASTING PROCESS............................................................1IMPORT OF COFFEE BEANS .....................................................................................................2MARKET ANALYSIS....................................................................................................................2A) Industry Analysis...............................................................................................................2B) Competitor Analysis..........................................................................................................3TARGET MARKET........................................................................................................................3MARKETING..................................................................................................................................4A) Product..............................................................................................................................4B) Pricing................................................................................................................................4C) Distribution........................................................................................................................5D) Promotion..........................................................................................................................5STRATEGIES AND TACTICS......................................................................................................5Funding Strategies..................................................................................................................5Promotional Tactics................................................................................................................6Target Market Strategies........................................................................................................7FINANCIAL PLAN.........................................................................................................................7Assumptions...........................................................................................................................7A) Cash flow statement..........................................................................................................7B) Income statement...............................................................................................................8CRITICAL RISKS...........................................................................................................................9REFERENCES..............................................................................................................................10
BACKGROUNDThe business in which coffee beans are roasted into the products in form of powderedcoffee and then used by people for drinking or consuming is known as coffee roasting business.In the Australian market coffee is highly consumed by the local community along with visitors.In addition to this, coffee product of Australia is known for the best quality in the world. In thepresent study, a new business of coffee roasting is focused which will be established by anentrepreneur. The reason for considering this particular sector is that, in Australia demand ofcoffee products is growing rapidly (Australia Coffee Market - Growth, Trends and Forecasts(2017 – 2022), 2017). It helps to the entrepreneur for increasing sales and revenue with thehigher rate as compared to other kind of businesses. Further, it will be able to enhance marketshare and become highly profitable from the coffee products. The present proposed coffeeroasting business will be opened in the Brisbane market of Queensland, Australia. This city islocated near to Brisbane river due to which high number of visitors come there. It one of thehighly attractive tourist place of Australia where chances of raising customers are high. Due tothis particular situation coffee roasting business will be established in Brisbane city. The report gives outline about the coffee market of Australian economy along withcompetitor analysis. Apart from this, product which will be offered by the proposed coffeeroasting company along with the promotion techniques are mentioned in the study. Financial isone of the important resource for new firm and plan related to this aspect is mentioned in thepresent business plan. As of now, the entrepreneur will establish firm in Brisbane city where ithas opportunity to enter in another state and country in the future. STEPS INVOLVED IN COFFEE ROASTING PROCESSProcess of toffee roasting has to be applied in the proposed business and steps of thisprocedure are listed below:11Place the coffee beans in roaster in small batches 11If the beans are very hard then use flames11Rotated in the roaster machine consistently 11Beans checked within few seconds 11Cool the coffee beans 1
11After cooling natural gases are released on it (Adams, 2016)11At the end preserved and protected IMPORT OF COFFEE BEANS In order to roast the coffee and run the business in the market with profitable situation,higher quality of the raw materials required. Along with this, coffee beans which are rawmaterial for proposed business which must be of the lower costs. Nepal country is basicallyknown for the high quality of coffee beans along with wide range of products worldwide.Further, it provides coffee beans at the cheaper prices in comparison to other countries.Therefore, coffee beans for the proposed roasting business will be imported from Nepal. Anotherjustification behind considering this country for importing raw materials is that, low cost willsupport to the firm for raising profit and contributing in GDP of Australian economy with highrate.MARKET ANALYSISA) Industry AnalysisCoffee market in Australia is one of the rapidly growing in the economy and contributesbetter amount in the growth rate. According to the Australian coffee industry analysis it has beenfound that revenue generated by coffee shops within fiscal period 2012-2017 is worth of $8Billion. When looking at the annual growth rate between 2012-17 then it is 7.0% and it isexpected that it will grow with the higher rate. Therefore, the entrepreneur select business ofcoffee roasting. When considering to the bargaining power of buyers in the coffee industry thenit is moderate to low where proposed firm able to generate high revenue. On the basis of surveyreport in February 2017, it can be analysed that demand of coffee items will increase onconsistent basis within next periods (Cafes and Coffee Shops in Australia, 2017). Apart fromthis, coffee market of Brisbane area is growing continuously in Australian economy as comparedto another markets. The reason behind this is that Brisbane is one of the tourist place where hugenumber of people tourists visit. After looking at the above industry condition of coffee withinAustralia the proposed company will be able to earn higher sales and profit. B) Competitor AnalysisIn the coffee industry wide range of companies operating and provide products andservices to the people. Due to this particular situation, level of competition within Australian2
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