A business plan is considered to be the most important document for a business as it acts as a roadmap and helps in the smooth functioning of the organization. It is a document that provides guidance regarding the achievement of future goals and objectives effectively and efficiently.
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BUSINESS PLAN REPORT
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TABLE OF CONTENTS INTRODUCTION1 BUSINESS PLAN1 Product and services offered3 SWOT analysis4 PESTEL analysis :4 Marketing strategy : REFERENCES8
INTRODUCTION A business plan is considered to be the most important document for a business as it acts as a roadmap and helps in the smooth functioning of the organization. It is a document that provides guidance regarding the achievement of future goals and objectives effectively and efficiently.
BUSINESS PLAN Executive summary Harvard Coffee shop is serving the regions by its fabulous tastes in coffee and chocolate products. Coffee shop is run by single owner and have 3 branched in the city. Vision ''Bringing people together with best eating experiences stretching from the coffee house''
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Product and services offered Harvard Coffee is innovating its business operations and under this it will offer two new products to the customers which are chocolate pizzas and ice cream sandwiches. Usually, it is observed that few of café offer products other than coffee.
SWOT analysis Strength •The Harvard coffee house serves the best taste in the chocolate and coffee products. •They had gained a huge trust of their customers with their awesome taste and services. Threats Availablerivalsinthemarketwith the same product is major threat to the coffee house. Changing needs and preferences of the consumers. Weakness •They mainly focus on the chocolate and coffee products not on other range of food product in coffee house. •No promotions and advertising is being done by the coffee house. • Opportunities •Harvard's coffee house can attract the wide range consumers with the new products. •The sales and profit margin will also increase and further can expand to different countries as well.
PESTEL analysis : Political Factors- The government policies and transitions changes time to time that can affects the business operations. Economic Factors- Inflation price of the country can affect the pricing of the food product in the coffee house to be also increased. Social Factors- The demographic trend should be considered by the coffee house before developing new product.
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Marketing strategy : Marketing strategy which is being used by Harvard coffee house will be modern online marketing that is helpful for the company to attract the customer's attraction to the coffee house. By this they can reach to the wide range of customers easily and new product's could also be in trend with this marketing strategy . For online marketing they can use social media channels such as Facebook, Instagram, Twitter etc.,
Marketing mix : Product- The new product which is being designed by the company should be unique in taste from other products so that it can be popular among the consumers Price- The pricing of the product must be low as the major number of customer's can be attracted to that product
Segmentation, targeting and positioning approach : Demographic market segmentation should be used by the coffee house so that they can accurately target their customers. In this segmentation customers is targeted on the basis of ace, religion, family size, gender, income, ethnicity and education which is very helpful for targeting he customers on this basis.
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Operational structure- There will be 15 staff members in the coffee house from kitchen area to serving zone and there is one manager who will be monitoring all the activities within the coffee house.
CONCLUSION From the above study it is concluded that the business plan is very necessary element for company to start up the business and conducting better business activities. This is helpful in developing the business strategies and policies which can be further implemented in business so that the business can be successfully established in market.
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REFERENCES Chambers, I. and Humble, J., 2017.Developing a Plan for the Planet: A Business Plan for Sustainable Living. Routledge. Chambers, I. and Humble, J., 2017.Plan for the planet: a business plan for a sustainable world. Routledge. McKeever, M., 2016.How to write a business plan. Nolo. Burns, P. and Dewhurst, J. eds., 2016.Small business and entrepreneurship. Macmillan International Higher Education.