Business Report Introduction 3 MAIN BODY3 Question 1 Overview of Business Plan
Added on 2021-02-19
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BUSINESSREPORT
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY..................................................................................................................................3Question 1 Overview of Business..........................................................................................3Question 2 Business Plan.......................................................................................................4RECOMMENDATION.................................................................................................................10CONCLUSION.............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONBusiness plan is a written document which summarizes the operational and financialgoals of business and contains a projected profit and loss statement. A business plan is also useroad map strategy that provides directions so business can plan it's future and help to avoidlosses in business (Burns and Dewhurst, 2016). This report will highlight business plan in which following aspects are included vision,mission, objective, company background, marketing mix, marketing strategy, SWOT analysis,PESTLE analysis, competitor analysis and budgeting. It will also provide recommendations forthe successfully running of the new business.MAIN BODYQuestion 1 Overview of BusinessEight seeds Cafe serves quality products and services which they believe to be goodthings in life. It was founded in 2019 and is presently situated at 170, Oxford Street, Melbourne,Australia. It provides services all day, which includes, breakfast, juices, roasted coffee, cakes,lunch, dinner and much more cravings for its customers. Some of the objectives the companywants to achieve are as follows:Offering different vouchers and coupons to attract customers to attract customers.Conserving a list of its customers for mailing purpose, to make them aware aboutthe day to day offers.Its targeted customers are 15- 55 years old. Its per year income counts to approximately$15,000 to $100,000. It has its competitors such as Chicken's Joint and burger little, which arewell known fast food as well as coffee provider with strong business and marketing plan.Moderate pricing structure is being used by them and also provides full course meal, due to lowprices it attracts its customers, which is a very less comparison for Eight Seeds Cafe(Storey,2016).For continuous growing in the dynamic market where the tastes and preferences ofcustomers are ever changing, it adopts marketing and promotional activities which includedistribution of fryers in the nearby surrounding areas, vouchers, complementary snacks anddessert to attract more and more customers(Kopnina and Blewitt, 2018). So that, it can create astrong market share and go ahead of its competitors effectively.
Question 2 Business PlanA business plan is made for a long run in the market, it is basically a written descriptionwhich guides about the plan to be followed and strategies to be adopted for gaining competitiveadvantage in the targeted market (Lam, 2018). Business plan of the 8 Seeds Cafe is as follows -MissionTo provide reasonable products and food services to its customers with great quality,along with a healthy, comfortable and positive surroundings.VisionTo gain a substantial income by becoming the leading coffee owner, together withkeeping in mind the satisfaction and dignity of customers and also its employees respectively.Objectives To maintain the quality of food and services.Providing a environment to its customers which is friendly and comfortable.7Ps Marketing MixIt is the blend of various tools such as product, people, promotion, etc. which arecontrolled by the Eight Seeds for efficiently growing in the market(The marketing mix, 2019).Product: It provides a wide range of roasted coffee, mouth watering breakfast, lunches,brunches, juices, etc. And also focusing on the extend the variety of roasted coffee byexporting it from different places.Process: It provides the distribution process of its products in its cafe, take away servicesare also imparted along with online delivery so that it is easily available to the targetedcustomers.Place: Eight Seeds cafe is situated in Oxford Street, Melbourne and is planning to openone more branch in Berkeley St, Carlton, as the level of competition there iscomparatively low(Stead and Hastings, 2018).People: It has currently 55 employees approximately working, and they are providedtraining and skill development. So that, they can attract more customers and satisfy theirneeds by providing quality goods and services.Physical Evidence: Packaging of the ordered products is done in a neat and clean mannerand also the environment of the cafe is soothing, comfortable for all the age groups(Wynne, 2016).
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