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The Atherton store will not only sells tobacco but also other services such as gifts, key cutting engraving and cold drinks for the customers to have a variety of products.
Here I attached full business plan for CTC retail store in Atherton. I need the executive summary part for this plan. Kindly make the EXECUTIVE SUMMARY for this assignment.
CTC is a tobacco retail franchise which deals with the purchase and sale of tobacco products sourced from three main tobacco companies of Australia- Imperial Tobacco, British American Tobacco and Philip Morris Limited. The Atherton store will not only sells tobacco but also other services such as gifts, key cutting engraving and cold drinks for the customers to have a variety of products.
The stores such as TSG, Coles, Woolworths offering similar products are limited in brands of tobacco and prices to offer the customer. CTC plans to meet the needs of the customers through a variety of brands and a competitive price. The company will use a pricing strategy and aims at providing outstanding customer service to ensure customer retention. The structure of the company is retail frame offering final products to customers. Everyone over 18 years is a potential customer to our tobacco products and the strategy for income would be focusing on satisfying a necessity on a convenient way with good customer service and offering good prices for quality goods. Good customer service will also apply to other services such as key cutting, drinks, engraving and gifts for the continuous relationship with customers which ensures retention and income generation.
The company plans to use a pricing strategy to achieve its sales. Unlike the competitors who use a margin of 7 to 9 %, CTC will use a narrow margin of 6.5% markup aiming at high sales volumes for profit for units sold. The company will not do promotions, but use the promotions provided by the main providers; British American Tobacco, Imperial Tobacco and Phillip Morris to reach the customers and to adjust the prices for the products to be approachable. The company will also provide accessories for tobacco consumption such as pipes, paper and filters readily accessible to customers. For other services, the company plans on having narrow profit margins for customers to use more than one service when in the store. The company will be located in the main street town of Atherton and will provide parking possibility which is important and convenient to customers. The location is also suitable for large number smokers living in the town.
The financial plan for CTC Atherton is based on the projected analysis of start-up costs, profit and loss statement, balance sheet and cash flows. A comprehensive analysis of financial plan for CTC Atherton will serve as the basis for risk management and long-term investment planning. The projected financial statements are for the first three financial years of the business. The financial plan analysis is based on some known metrics along with estimates of productivity and growth to determine whether the financial goals can be satisfied or not. The output of these statements gives an estimate of net profit and growth attained by the business by maintaining the optimal utilisation of resources over the span of next three years.
The staffing duties will be done at the head office and will ensure the training and development done to keep them abreast of the system of operation of the company and also remain motivated to work. The management of the store will be introduced to the general functioning of the firm and better management and operational strategies to adopt in the retail store. The CTC Company plans to implement the plan by launching a retail store in Atherton town. The pricing strategy will change the market for the tobacco products in the town and will address some of the key problems such as cost and brands available in the market.
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