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Marketing Strategies for Food Planet

Discuss about the Investigation of Integrated Contingency Model.

This report depict about a business plan and the financial and marketing feasibility of a comapny. In this report, the performance of the finance and market has been evaluated on basis of various strategies and techniques which would helot eh entrepreneur to make a better decision about the implementation of the business. For this report, assistance has been taken from various sources so that a better business plan could be made and the feasibility analysis is also done in a good and proper manner.

Business plan is the blueprint of a new start up in which entire aspects and the related factors are stated properly and it has been evaluated that what would be the products of the comapny, where would the comapny sell it product, what would be the target market, how much cost is required etc. at the same time, feasibility is a process which is done to identify that whether the business would be able to meet all the expected requirement in the market or in terms of finance or in terms of technology etc.

Business plan depict about a start up in the hospitality industry. This business plan has been prepared to start a restaurant in the Australian market by the name of “Food Planet”. This restaurant would be start in a shopping mall so that the footfall of the business would be higher. The main products of this restaurant would be beverages and the fast food. This restaurant would sell out the healthy choices in the food to its clients. Mainly, this business plan would offer the high profit and more clients to the comapny. The business would focus mainly over the youth and the children to enhance the target market (Ward, 2012). This business plan mainly depict that the business would be started at the time of Christmas so that the advertising and promotion of the company could be done in a better way. For the site selection, it is important for the business to evaluate and analyze the competitors and the products offered by the competitors (Cadez and Guilding, 2008).

Further, the business plan expresses that the process of implementing this business would start from the month of the Oct but the sales of the restaurant would start from the December and the sales of the food and the meal would enhance day by day. The fixed cost of the comapny would be lesser as the less space is required by the restaurant to start up tie business and labour of the comapny would also be lesser to manage the cost of the comapny.

Financial Feasibility Analysis

For this business report, marketing strategies has been evaluated and it has been found that how the business must be implemented in the market and set a better position in the market and in the mind of the customers so that the better market position could be found through the company. The following marketing strategies could be adopted by the comapny to manage the marketing position and set a better market for the “FOOD PLANET”:

Firstly, the business is required to set the price of the food and its beverages in such a manner that the entire market and opportunities could be grabbed in the market. The comapny is suggested to adopt the competitive pricing strategy. This strategy depict that the price must be set according to the market condition. This strategy would help the comapny to grab more opportunities from the market (Simmonds, 2010).

Further, the business is required to set the business at a location from the entire market and opportunities could be grabbed in the market. The comapny is suggested to adopt the target strategy. This strategy depict that the comapny must start the business at the place from where the target market could be grabbed easily (Shim, Siegel and Shim, 2011).

In addition, the business is required to set the promotional strategy of the food and its beverages in such a manner that the entire market and opportunities could be grabbed in the market. The comapny is suggested to adopt the print media to promote the business. This strategy depict that the comapny could take the help of Flyers, newspapers, magazines etc. to promote the business (Weaver, Weston and Weaver, 2001). This strategy would help the comapny to grab more opportunities from the market.

Lastly, the business is required to analyze and set the products and the drinks in such a manner that the competitive product could be offered in the market. The comapny is suggested to do the competitive analysis and set the products list accordingly. This strategy depict that the product must be set according to the market condition (Hoque, 2002). This strategy would help the comapny to grab more opportunities from the market.

Financial feasibility is the process in which it is identified that whether the business would be able to meet the entire expected requirement in the market or in terms of finance? Would the profitability of the comapny be according to the expectation? (Hansen, Mowen and Guan, 2007) How the performance of the comapny would would be in terms of finance etc.

Break-Even Analysis

This feasibility study has been done to analyze and identify the performance of the new business in the Australian market. According to this report, it has been analyzed that it is required for every business to identify and analyze the financial feasibility so that the goals and objectives of the comapny could be got easily.

Break up analysis is a study which is performance by the companies and the start up to analyze the minimum sales which must be done to reach over a point where the loss and profit of the comapny would be nil. It is the point where the company would not face nay loss. At this point, the revenues and the expenses of the comapny are at equilibrium point. This report explains the user about the minimum sales.

calculation of break even analysis

Total

Per unit

Contribution

 $      2,76,000

9.2

Fixed cost

 $      1,80,000

 $   1,80,000

 

Break even

0.652173913

19565.2174

In amount

In units

This breakeven point depict that the comapny is required to sell at least 19,565 units of the meal and the food to the clients to reach over a point where the expenses and the revenues of the comapny would be similar. This report depict that it becomes important for every company to analyze this point (Bromwich and Bhimani, 2005).

In this start up, the contribution of the comapny would be $ 2,76,000 and  $ 9.2 per unit. The fixed cost of the comapny would be  $ 1,80,000 which depict that the comapny is required to earn that much amount that the fixed cost could be covered and if the comapny would sell more than 19565 units than the comapny would be able to earn profits (Garrison et al, 2010). This depict that at the initial stage, comapny must be concerned about the breakeven point but after a period of time, when this level has been achieved, comapny must enhance the level of the sales so that the profits could be earned by the company.


After analyzing the breakeven level, the profitability position of the comapny has been analyzed that depict that once the comapny reach over a point where the expenses and the revenues of the company has been equal, it becomes mandatory for the company to think more and enhance the level of the profitability position (Davies and Crawford, 2011).

The calculation of the profits of the comapny in next 6 months is as follows:

Calculation of profit

Oct

Nov

Dec

Jan

Feb

Mar

         

Total sales

   

 $ 1,35,000

 $    1,35,000

 $ 1,35,000

 $ 1,35,000

Less:

         

Material 1 Cost

15000

15000

15000

15000

15000

15000

Material 2 Cost

14000

14000

14000

14000

14000

14000

Labour cost

15000

15000

15000

15000

15000

15000

Contribution

         

Less:

         

Fixed cost

 $         55,000

 $      25,000

 $    25,000

 $       25,000

 $    25,000

 $    25,000

Profit

-99000

-69000

 $    66,000

 $       66,000

 $    66,000

 $    66,000

This profitability position depict that the comapny is required to sell more than 19,565 units of the meal and the food to the clients to enhance the level of the profits in the company. This report depict that it becomes important for every company to make more profits after a period of time (Damodaran, 2011).

Profitability Analysis

In this start up, the total sales of the comapny would be start from the December. The fixed cost of the comapny would be different in the first month and from that $ 25,000 would be paid by the comapny. The contribution of the comapny would be different from first two months. According to the evaluation and the calculations, it has been analyzed that the total profits of the comapny would be $ 96000 in 6 months of the comapny (Bodie, 2013).

Following table depict about the cash flow of the company:

Cash Flow analysis

Cash Flow Analysis

Oct

Nov

Dec

Jan

Feb

Mar

Beginning cash balance

-$               25,000

-$      1,24,000

-$   1,93,000

-$        1,94,500

-$    1,42,000

-$       89,500

Add: budgeted cash receipts

 $        67,500

 $         1,21,500

 $ 1,21,500

 $ 1,21,500

Total cash available for use

-$               25,000

-$      1,24,000

-$   1,25,500

-$            73,000

-$        20,500

 $        32,000

Less: cash disbursements

Material 1 Cost

 $               15,000

 $          15,000

 $        15,000

 $            15,000

 $         15,000

 $        15,000

Material 2 Cost

 $               14,000

 $          14,000

 $        14,000

 $            14,000

 $         14,000

 $        14,000

Labour cost

 $               15,000

 $          15,000

 $        15,000

 $            15,000

 $         15,000

 $        15,000

Fixed cost

 $               55,000

 $          25,000

 $        25,000

 $            25,000

 $         25,000

 $        25,000

Total disbursements

 $               99,000

 $          69,000

 $        69,000

 $            69,000

 $         69,000

 $        69,000

Cash surplus

-$           1,24,000

-$      1,93,000

-$   1,94,500

-$        1,42,000

-$        89,500

-$       37,000

budgeted ending cash balance

-$           1,24,000

-$      1,93,000

-$   1,94,500

-$        1,42,000

-$        89,500

-$       37,000

This depict the cash flow position of the comapny must be required to manage in a proper manner. This depict that the financial feasibility of the company must be rectified.

Further, the long term objectives and the strategies for achieving those objectives have been analyzed. Through the business plan, it has been found that the main objective of the comapny is to enhance the level of the sales, make loyal customers mad open franchises in the country. The main function and the goal of the comapny are to enhance the level of the profits and make loyal customers through offering them the best of the products.

For achieving the long term goals of the comapny, comapny is required to make various new strategies sand polices such as promotional strategies, products strategies, corporate social responsibilities, sponsorship, best taste, hygienic food etc. These strategies would help the comapny to grab more market share and would help the comapny to achieve the level of the objectives and the goals of the comapny (Horngren, 2009).

Further, it has been found that entry and exiting both are easy in a restaurant business. If the “FOOD PLANET” wants to exit from the industry than it could easily exit from the industry through sell out the shares of the restaurant to someone else or through winding up the restaurant. It is the perfect competition market from where the entry and existing could be done and no special strategies and policies are required to do the same (Kaplan and Atkinson, 2015).

Through analyzing the above business plan, calculations, break even analysis, cash flow analysis, profitability position etc, it has been found that the business would perform better in the market. It would be easier for the comapny to reach over a breakeven point and make extra profits from the market (Lumby and Jones, 2007).


The comapny is required to set a good strategies plan for the debtor’s receivable collection as this is impacting over the cash flow of the comapny and due to which the cash flow of the comapny is negative. Further, it has been found that the overall performance of the business would be way better in the Australian market and the goals and objectives of the comapny could be achieved easily and quickly.

Further it has been analyzed that various challenges and strategies could be faced by the company. According to this business plan the financial and marketing feasibility of the company depict that the performance and the profitability position of the comapny would be better. Though, it has been found that huge competition is there in the market in the hospitality industry. It would also be tough for the entrepreneur to get the amount for the start up (Moles, Parrino and Kidwekk, 2011).

Various shopping malls are already full and thus they do not have space for another stall. Further, it has also been found that the company is required to manage and set the business plan in such a way that the entire Australian people could be the target market. The food and beverages of the restaurant must be in such a manner that it could be liked by the children, youngsters and the old people (Lord, 2007). Through this report, it has been found that the performance and the profitability of the comapny would be way better if the comapny resolve these issues. Rest, the business plan is quite good and would offer the high profits to the comapny in near future.

Conclusion:

To conclude, this business plan would offer the high profits to the entrepreneur. This study depict that the performance and the position of the comapny depict that the business plan would offer the high returns to the entrepreneur. Further it has been analyzed that various challenges and strategies could be faced by the company. According to this business plan the financial and marketing feasibility of the company depict that the performance and the profitability position of the comapny would be better. Though, it has been found that huge competition is there in the market in the hospitality industry. It would also be tough for the entrepreneur to get the amount for the start up.

It is required to manage and set the business plan in such a way that the entire Australian people could be the target market. The food and beverages of the restaurant must be in such a manner that it could be liked by the children, youngsters and the old people. Through this report, it has been found that the performance and the profitability of the comapny would be way better if the comapny resolve these issues. Rest, the business plan is quite good and would offer the high profits to the comapny in near future.

References:

Barlow.J.F.,2006, Excel models for business and operations management, 2nd edition, John Wiley and sons ltd, England

Bodie, Z., 2013. Investments. McGraw-Hill.

Bromwich, M. and Bhimani, A., 2005. Management accounting: Pathways to progress. Cima publishing.

Cadez, S. and Guilding, C., 2008. An exploratory investigation of an integrated contingency model of strategic management accounting. Accounting, organizations and society, 33(7), pp.836-863.

Damodaran, A, 2011, Applied corporate finance,3rd edition, John Wiley and sons, USA

Davies, T. and Crawford, I., 2011. Business accounting and finance. Pearson.

Garrison, R.H., Noreen, E.W., Brewer, P.C. and McGowan, A., 2010. Managerial accounting. Issues in Accounting Education, 25(4), pp.792-793.

Hansen, D., Mowen, M. and Guan, L., 2007. Cost management: accounting and control. Cengage Learning.

Hoque, Z., 2002. Strategic management accounting. Spiro Press.

Horngren, C.T., 2009. Cost accounting: A managerial emphasis, 13/e. Pearson Education India.

Kaplan, R.S. and Atkinson, A.A., 2015. Advanced management accounting. PHI Learning.

Lord, B.R., 2007. Strategic management accounting. Issues in Management Accounting, 3.

Lumby,S and Jones,C,.2007, Corporate finance theory and practice, 7th edition, Thomson, London

Moles, P. Parrino, R and Kidwekk, D,.2011, Corporate finance, European edition, John Wiley andsons, United Kingdom

Shim, J.K., Siegel, J.G. and Shim, A.I., 2011. Budgeting basics and beyond (Vol. 574). John Wiley and Sons.

Simmonds, K., 2010. Strategic management accounting.

Ward, K., 2012. Strategic management accounting. Routledge.

Weaver, S.C., Weston, J.F. and Weaver, S., 2001. Finance and accounting for nonfinancial managers. New York: McGraw-Hill.

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