Detailed Business Plan: One Stop Convenience Store Franchise Proposal

This business plan outlines the proposal for establishing a One Stop convenience store franchise. It details the business's objectives, which include establishing the store within four months, increasing brand awareness, and expanding to another location within a year. The plan also covers the use of a start-up loan for equipment, technology, and operational costs. The author's skills and experience, including 12 years in the food and beverage industry and an MBA, are highlighted. Target customers are identified as individuals aged 13-50, with a focus on local residents. The plan includes a market analysis, competitor assessment, and sales and marketing strategies. Operational plans address suppliers, staffing, and legal considerations. The plan emphasizes the convenience store's ability to meet daily grocery needs, offering competitive pricing and effective inventory management. The business aims to offer a range of products and services, including vegetables and ready-to-cook foods to meet customer needs. The plan also outlines the steps for marketing, including website, advertising, and social media promotion. The overall goal is to offer a convenient shopping experience that addresses local needs.

Business Plan
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Contents:
1. Your business and objectives
2. Your skills and experience
3. Your target customers
4. Your market and competition
5. Your marketing and sales plans
6. Your operational plans
7. Supporting evidence (if applicable)
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1. Your business and objectives
Briefly describe your business, outlining the different product(s) and/or service(s) you offer:
I am trying to open a convenience store franchise for One Stop. The business will offer a range of products as
well as services to the customers. One Stop is a retailer based in the United Kingdom that offers a variety of
grocery stores. The store will be open seven days a week and the products that will be offered will include
vegetables, ready to cook food etc. This means that the customers will find most of what they need at one
place.
The business will cater to the day to day needs of people in respect of food, grocery etc.
Objectives:
Short term (current year):
 To establish a franchise for One Stop store in London within 4 months in order to gain attraction of people
by 15%.
 To generate awareness regarding the newly opened store by 10% to attract people.
Medium term (next 1 – 2 years):
 To open another franchise store of One Stop in the United Kingdom within the next one year in order to
increase overall sales by 25%.
 To reduce the overall turnover by 15% during the next two years in order to strengthen the brand name.
Long term (3 years and beyond):
 To increase the overall revenue by 30% in the coming 3 years in order to run the business successfully.
 To reduce the expenses related to production by 7% over the next three years.
Your Start Up Loan:
Describe how you will use your Start Up Loan and how it will help you achieve these objectives:
The start-up loan will be availed from a bank or a financial institution in order to raise funds for the business. All
the expenses will be planned beforehand so that once the loan is availed, the necessary things for the business
can be purchased. The first and the most important thing for which the loan will be used, will include buying all
the equipment and installing the latest technology in the store. Besides this, the start-up loan will also be used
to set up costs and deal with issues in the cashflow. The land, where the convenience store has to be opened
will also be bought with the money from the loan. When the basic costs of the business will be in place and
managed effectively, they will help in achieving the business objectives.
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2. Your skills and experience
Outline any previous experience, employment or other work that you have done that is relevant to your
business:
I have a previous experience of working in the food and beverage industry of 12 years as a hotel manager.
Outline any education or training you have had that is relevant to your business:
My educational background is that I have an MBA degree from Sunderland University. On the other hand, my
wife has 2 Master’s Degrees from Cardiff Metropolitan University. These are an MBA in Marketing as well as
MSC hospitality. She will be helping me in setting up, operating as well as managing the business.
Outline any transferable skills, talents or traits you have that are relevant to your business:
I am good at managing a team of people as I have done it earlier during my previous job as a hotel manager for
12 years. Also, I am comfortable in working as part of a team and possess good communication skills, bot
written as well as verbal. My research and analytical skills are also strong which will be one of the contributing
factors for my business. I have helped one of my friends in setting up a business so setting up a franchise of a
convenience store will not be very difficult for me. Other transferable skills or traits I possess are that I am able
to make important decisions quickly without panicking.
Briefly outline any gaps in your skills, experience or qualifications and explain how you will address
these:
One of the gaps in my current skillset is that I have to work on my problem-solving skills. Although they are
good, but working on them will help me in improving the performance of my business being the owner of it.
Also, I should work on my current motivation skills as this is one of the main elements of a business to be
successful. I think that having more working experience would have been more helpful as it would have allowed
me to strengthen my organizing as well as planning skills.
3. Your target customers
Demographic details:
Delete any answers not applicable to you and provide some description as relevant.
Age: Gender: Income: Types: Target regions:
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 13 - 17yrs
 18 - 30yrs
 31 - 50yrs
 All genders  £0 - £25,000
 £26,000 - £99,000
 £100,000 +
 Individuals
 Businesses
 Families
 Other
 Local
How many potential customers do you estimate are in your target regions for this financial year?
For this financial year, estimated potential customers for the business are all the localites in the locality as well
as the people living in the nearby towns. The number of potential customers can be estimated to be 2000-3000.
But there can also be other people who visit from other locations.
Briefly describe your target customers and any other distinguishing features, expanding on any of the
areas you have already highlighted above:
The target customers of the stores will be people in in the age groups of 13 to 50 years of age. This is because
they will be able to find the products based on their needs as well as preferences. Once the store is set up and
starts operating smoothly, more equipment as well as latest technology will be implemented. Also, in order to
expand the business and create awareness about the same among people, different online as well as social
media platforms will be used to attract a greater number of people to the store. Initially, the store will offer
various offers as well as discounts to the people in order to create awareness as well as attract them to the
store. Currently, the business will operate locally and will gradually expand to other areas as well. And in order
to expand the business effectively to ensure that the needs as well as preferences of all customers is met, a
market research will be done in order to make sure that there is a clarity regarding the needs of the people in
that particular location.
What customer need or problem does your product(s) and/or service(s) address?
Customers need grocery products on a day to day basis and therefore, One Stop will be their destination for
any type of products or services. The products will be offered at low and affordable prices to ensure that they
are not very heavy on the pocket of customers and they are able to buy products easily. Besides this, the
availability of products will be kept high and this will be done with the help of effective inventory management.
Therefore, the main problem that the convenience store will try to solve is the availability of products as well as
services. This will help the store to attract a greater number of customers and also address their needs in an
effective way.
Explain your approach to pricing your product(s) and/or service(s):
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4. Your market and competition
What research have you conducted to understand your market, including your industry, regions,
customers, competitors?
Delete any answers not applicable to you and provide some description as relevant.
 Surveys & questionnaires
 Focus groups
 Interviews
 Desk or online research
 Market testing
 Trade fairs or exhibitions
 Met with suppliers
 Personal experience
 Social media research
 Mystery shopping competitors
 Family and friends
 Other
Competitor 1:
Name, location, website: Average prices:
Strengths: Weaknesses:
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Competitor 2:
Name, location, website: Average prices:
Strengths: Weaknesses:
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Your business:
What sets your business apart from your competitors?
Your strengths: Your weaknesses:
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Current or future opportunities: Current or future threats:
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5. Your sales and marketing plans
How do you or will you promote your business?
Delete any answers not applicable to you and provide some description as relevant.
 Website (information only)
 Website (for e-commerce)
 Advertising (online)
 Advertising (print, radio, TV)
 Search engine marketing
 Social media
 Retail outlets
 Telesales
 Referrals
 Leaflets
 Events and exhibitions
 PR
 Other
Pick three of your key promotional activities and describe how they currently (or will in the future) help
you meet your business objectives:
1.
2.
3.
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6. Your operational plans
Are there any suppliers or business relationships that are critical to delivering your products/services
or otherwise running your business?
Detail as relevant in the boxes provided below.
Supplier / Relationship 1:
Organisation: Relationship status:
Delete any answers not applicable to you.
 No contract/commitment
 Contact under negotiation
 Project-based arrangement
 Contract or retainer in place
 Other
Service provided: Key terms of the relationship:
Supplier / Relationship 2:
Organisation: Relationship status:
Delete any answers not applicable to you.
 No contract/commitment
 Contact under negotiation
 Project-based arrangement
 Contract or retainer in place
 Other
Service provided: Key terms of the relationship:
Other operational considerations:
Do you currently employ staff?
Delete any answers not applicable to you and provide some description as relevant.
 Yes (proceed to question A below)
 Not yet but I have plans to take on staff in the next 12-months (proceed to question B)
 No and I have no plans to take on staff in the next 12-months (proceed to next section)
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A. How many staff do you currently employ?
Full time: Part time:
Outline the key staff roles within your business (e.g. job title, responsibilities, key skills):
B. How many staff do you intend to take on in the next 12-months?
Full time: Part time:
Describe the key responsibilities and skills you anticipate giving to these new staff:
Where does or will your business operate from?
Delete any answers not applicable to you and provide some description as relevant.
 Home business
 Office
 Retail unit
 Manufacturing unit
 Mobile business (vehicle)
 Work-hub
 Other
What laws or regulations have you considered for your business and/or industry?
What insurance do you currently have in place or do you intend to put in place for your business?
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7. Supporting evidence
You can either copy and paste any supporting evidence in this section, or create a bullet point list of
your supporting items and send them in with your application separately. Any supporting evidence you
provide should support and strengthen the claims you have made and help our loan assessment team
feel more confident about lending to you.
Please note, this is not a mandatory field but your Business Adviser may request additional supporting
evidence once they have reviewed your full application.
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