Business Plan For Lucky Café In Australia - Essay. (70 Characters)

Company Philosophy and Products

Produce a business plan for a hypothetical business you might like to establish. This should be a small business in scale and should be of your own design. While your business may be similar to other established businesses it must not be a franchise. For purposes of this assignment the business should also be a physical one and not purely online.

Your business plan should contain each of the following sections. For an example plan see Chapter 16 of the textbook “Small Business Management in the 21st Century”.

Part One:

Introduction

A: Executive Summary: Create a one page summary for your plan. Appears first but is done last. This is a very important part of your plan and should include details about marketing, finance and operations.

B: Business Philosophy / Mission Statement: Outline the philosophy of your business and its mission.

C: Product/Service Description: Describe the products and/or services you will be providing. Outline the customer benefits and why your chosen product/services will be successful. You must also include retail prices in this section and estimate how many units you will sell for each product on a monthly basis.

D: Self Analysis: Explain why you are a good candidate for starting up your business. Ideas to ponder: reliability, creativity, teamwork skills, education, list special talents such as computer skills etc

Part Two

Marketing Research E: Conduct Secondary Research in the following areas:

1) Geographic Data: Population description that tells how many people live in a certain area.

2) Demographic Data: Statistics such as age, gender, income and marital status, family size. You will want to include the data that will have a direct impact on your business.

Part 3: Organisation and Personnel Plan

J: Ownership Choices: What type of ownership (Sole proprietorship, partnership, corporations etc) have you selected? Why have you selected this option?

H: Personnel Needs: State who will do what and who will report to whom. Create a simple organizational charge that will show working relationships.

J: Hiring Strategy: How will you recruit staff members? What salary and conditions do you need to provide to attract qualified staff?

Part 4

Marketing Plan

K: Proposed Product or Service Plan: Describe your business and your products in detail.

L: Proposed Pricing Policy: Describe your pricing policy

1) Proposed markup to cover costs?

2) Relationship to competitors: below, above, the same

3) Will you do any introductory discounting to attract customers?

4) Are you going to drive profits through volume or are you going for a prestige appeal?

Part 5

Financial Plan

O: Income Statement: Produce an income statement based on the projected sales volumes and margins you have identified in earlier sections. This should include:

1. Gross Revenue less returns/refunds

2. Cost of goods sold

3. Operating expenses (such as rent/mortgage, utilities, taxes, insurance, salaries, advertising & promotion)
 

Introduction 

` In this part, proper bifurcation of the business functioning of newly established business has been taken into consideration. The newly established business name is Lucky café which is incorporate to sell all kind of foods and beverage products in Australia.

Business philosophy

The main philosophy of business is to provide the best quality of food and beverage products to clients with a view to increase their satisfaction level.

Product Service and description 

The company name of the newly established business would be Lucky café which would offer all kind of foods and beverage products and services to clients in Australia through the restaurant chain. The special offer which would be made by company is Latte drink. This product has been chosen due to its high demand in Australia. Company has expected to sell following products units in the upcoming months (Conway, 2013).

Particular	1st month orders	2nd Month orders	Next coming months orders
Coffee	100	150	200
Mock tails	150	180	250
Foods and beverages	200	250	300
Other items	100	150	200

Consumer benefits

• All the clients could easily get customized food and beverage products.
• With the help of online channel they could place their order online as well.
• Lucky café will provide best quality products and services at least price. 

Why product is successful

This product has been chosen due to its high demand in Australia. The customized products and offers will attract high number of clients in market.

Retail price of the products in market

Particular	Prices (AUD $)
Coffee	1.5
Mock tails	.6
Foods and beverages	2.5 and above( Depends on the categories)
Other items	3 and above ( Depends on the categories)

Self-analysis

I have good experience of running food and beverage business in Australia. In addition to this, I have observed all the values, belief, perception of clients in Australia which will help me to offer customized products and services in Australia. I have also good team of employees who could corporate me to implement proper business. I would use cyber computing enterprises resources planning to run this food and beverage business in Australia (Boshyk, 2016).

Marketing research 

Geographical area of business

The lucky café business would be established near to malls and crowded place. However, the main focus of lucky café would be on couples and students who are very frequent in vising restaurants and coffee shops. These customers could be grasped through its online marketing and off line marketing’s.  In Australia more than 2 million people are youngsters who are more inclined towards grasping more clients in marketing (Finch, 2016).

Demographics data 

The main clients of Lucky Café are the college going and couples who are very inclined towards visiting restaurant.  The age group of people starting from 17 years to 42 years are will be more attracted toward the business In addition to this, income status of people having more than AUD $ 7000 and above will be the prime customers of company. Furthermore, couples and newly wedded couples will also be considered while customizing the products and services of company. 

Target Market

Primary research 

The main research which would be used by Lucky café to collect the quantitative and qualitative data would be money survey. This survey would be used through the cyber computing mechanism to attract clients through online portal. This will increase the overall output and customization of the products and services. The main data would be what kind of products and services clients want in market. Lucky café could use these data with a view to customize its good and services.
Competition in market

Direct competition

There are several rivals who have developed core competency in product differentiation and cost leadership strategy. However, Star bucks and Dunkin Donuts who have strong brand image and offering best quality of coffee and other products. However, lucky café by using cost leadership strategy and innovative technologies in its business could increase its overall business productivity and efficiency of the business (Goi, 2015).

Indirect completion

It is observed that companies such as Jemidee and Byron Bay Tea Company have been selling best quality of tea to its clients to use their disposable income in positive manner.  However, if Lucky café wants to decrease this competition then it will have to keep all of products price low as compared to its substitute products sold in market.

Market segment analysis

The main target of the company is people near to malls, school and church. It is considered that if these people are offered attractive offers and best quality products and services then they could be permanent clients for the company. In addition to this, people having earning more than AUD $ 7000 and above will be the prime customers of company. This level of business functioning will increase the overall outcome and efficiency of the business. These customers will be more attracted towards the foods and beverage offered by Lucky café due to its high quality of products and services and cheap rate as compared to other rivals in market (Johnston and Bate, 2013.). 

Analysis of potential location

The main location of products and services sold in the market would be near to malls, school and church due to the crowded place. However, in order to start up restaurant business, promoters needs to hire a new place at least 1000 square fit in which they could establish proper ambience for their clients. This new restaurant will be started in recognized mall in Australia. This restaurant business will be operated from 8 am to 10pm throughout the time. However, Tuesday will be off due to less customer’s appearance in restaurant. In addition to this, underground of the mall have been taken for rent for the parking of clients. Clients could grasp our products and services through their visit or online channel established for their convince. The mall area is highly secure by the sensors and armed guards. Nonetheless, there is tough completion in mall as already there are so many coffee products sellers which could pose tough completion to Lucky café.

Competition Analysis

Organizational and personal plan 

Ownership choice

This lucky café would be small private company which will be accompanied by 2 owners. Incorporation of small private company has been chosen due to less complexity and less corporate governance (Mohd, Idris and Momani, 2013).

Personnel needs

There will be 40 staff in the Lucky café. 10 members would work in kitchen and 3 members will be at the front office to attend the clients and their billing. In addition to this, 2 staffs would be indulged in cyber computing online marketing of company. Rest employees would check supply of raw materials and build the client relation in effective manner. Each and every employee would be instructed by his line manager and they will report to their line manager.

Hiring strategy

Lucky café has planned to adopt cyber computing enterprises resources planning in its business. This will help company to hire employees through its online dashboard. Experienced employees could be hired in Lucky café by offering them the loyalty bonus apart from their salary (Boshyk, 2016).

Marketing plan 

Product Service and description 

Lucky café would offer all kind of foods and beverage products and services to clients in Australia through the restaurant chain. The special offer which would be made by company is Latte drink.

Mark up to cover cost

Proposed pricing policy

There will be estimated profit around AUD $ 400K on yearly basis. Lucky café has planned to sell all of its Latte and other drinks at no profit no cost. This point could be described as BEP points.  

Particular	Cost per  units (AUD$)	Profit estimated	Sells price
Coffee	12	10%	13.2
Mock tails	15	10%	16.5
Foods and beverages	20	10%	22
Other items	10	10%	11

The relation of Lucky café with its rivals is tough. However, initially its product and services will be kept below the standards of rivals offering.

The main introductory discount to clients would be 20% off on their total bill.

The main strategy is to increase the brand image and less inclined towards driving profit from the business.

Proposed promotional plan

The proposed promotional plan would be done through the online channels and personal promotion. This personal promotion would be done by 20 sales employees. In addition to this, short term promotion would be done through seminars and online monkey survey.

Place

The restaurant will be full of colour and ambience will be highly sophisticated to attract high number of clients. However, each and every month the theme of restaurant would be changed to make it more appealing to clients. 

Distribution plan

The main distribution plan is to incorporate new restaurant chain and sell the products and services to its clients through its online portal. This distribution plan is based on the efficiency of the company.

Financial plan

It is the income statement of Lucky café for all the production of beverage products.  

Lucky Café
Profit and Loss Statement
For the Period ended Year One
Income
	Sales	52000	( 1,000 coffee units @ $ 52 each)
	Total Sales	52000
Cost of Goods Sold
	Opening Stock	$                -
	Stock Purchases	34320
	Less Closing Stock	3120
Total Cost of Goods Sold(COGS)		31200	( See note below)
Gross Profit		20800
Expenses
	Advertising	500
	Bank Service Charges	120
	Insurance	500
	Payroll	13000
	Professional Fees (Legal, Accounting)	200
	Utilities & Telephone	800
	Other: Computer Software	480
	Expenses total	15600
Net Profit before Tax		5200
Note; Cost of Goods Sold calculation:
Lucky café s Calculation
Opening Stock                                                        Nil
Add Stock Purchased during the year		$34,320	(1100 units @ 31.20 each)
Equals Stock available to sell		$34,320
Less Stock on hand at end of year		$3,120	(100 Units @ 31.20 each)
Cost of Goods Sold		$31,200

(Fernandes, Ferreira and Moura, 2016). 

References

Boshyk, Y. ed., 2016. Business driven action learning: Global best practices. Springer.

Conway, J.B., 2013. A course in functional analysis (Vol. 96). Springer Science & Business Media.

Fernandes, C., Ferreira, M. and Moura, F., 2016. PPPs—True Financial Costs and Hidden Returns. Transport Reviews, 36(2), pp.207-227.

Finch, B. 2016. How to write a business plan. Kogan Page Publishers.

Goi, C.L., 2015. Marketing Mix: A review of'P'. The Journal of Internet Banking and Commerce, 2005.

Johnston, R.E. and Bate, J.D., 2013. The power of strategy innovation: a new way of linking creativity and strategic planning to discover great business opportunities. AMACOM Div American Mgmt Assn.

Mohd, W., Idris, S. and Momani, R.A., 2013. Impact of environmental dynamism on marketing strategy comprehensiveness and organizational performance. International Journal of Business and Management, 8(9), p.40