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Business Plan Research 1:Executive summary

Welcome back to my blog.

 For this post ,I am going to be talking about the first stage of my major project research which will be the Executive summary.
Executive Summary
According to survey gizmo,''An executive summary is a document that efficiently summarizes a larger business plan while communicating key findings and takeaways from research, as well as proposed courses of action.''

This definition explains the the purpose of the research that will be needed for this stage.Therefore for this post I will be addressing the following points of my business plan.

  1. Aims
  2. Market:Problem & Solution
  3. Competition
  4. Location 
  5. Financial Highlights

Aims.
The aim of my business plan is serve as a guide in order to successfully create a  fruit business that sells fresh organic fruits that provides good quality fruits products that are healthy and affordable enough to fulfil ever customer needs.In addition, this fruit business will strive to promote a healthy lifestyle by encouraging the consumption of fruits.In order to expand this business a long the line ,the will be a production of other fruits product such as fruit juice,smoothie and mix and match .Lastly,This fruit business  intended market will be focused on university students but other market audience are will be reached a well.
Executive Summary

 Problem & Solution
Many university students have been found to not eat as much fruits and vegetables needed for a nutritional and healthy lifestyle.Therefore as a fruit business,I will be focusing on university students to sell my fruits and other fruit products. .In addition,the issue of preference is key as well and some students may have specific fruits they prefer that a are not generally demanded by most customers.This business will have selected and limited specials that will cater for their need with special prices as well.

Competition
The competition for this business will be the local shops and the town market that are around the location .However throughout the use of social media and social media influences,the business will be constantly promoted .Also,the packaging of the product will enhanced so as to look more appealing,hence attract younger people.

 Executive summary



Location
The products will be sold at the town centre.After doing a little research the Leicester market charges are as follows

  • £14 for single table stalls
  • £19 for double table stalls
  • All stalls have a casual surcharge:
  • Monday-Friday: £1.50 per stall per day.
  • Saturday: £2.50 per stall per day.
Calculating for  365 days in year based on these rates, the shop will be running only during the weekdays and a single stale stall is enough for a startup business.The  location cost is estimated to be about 5,657.5 pounds.





Financial Highlight
The financial requirement to start up this business is about £500 for the first year with an estimated income of £400 (subjected to change).This is because for the first year various fruits will be bought equally in bulk in order to ascertain the best seller and the least seller as well as the fluctuating rate.Then further down the line it will be easier to calculate the varied amount of money that will be spent on the products depending on the demand.I need basic equipment such as blender,chopping board e.t.c which can be easily acquired however as the business expands there will be an upgrade the quality of the equipment with the use of the income.,

New words
Sales forecasting is the process of estimating future sales.
Market share is a firm’s percentage of an industry’s total sales.

In my next post,i will be doing more research on the opportunities involved in this business.


Comments

  1. Zoe Van-de-VeldeJuly 28, 2019 at 2:37 PM

    This is a good start on understanding the business model - well done

    ReplyDelete

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