BizCafe Business Plan Coursework Example | Topics and Well Written Essays - 1750 words

BizCafe Business Plan - Coursework Example This business plan takes us through the Never Enough Cafe’s journey since birth to growth. This business has mimicked the production curve throughout its existence. The marketing plan plays a vital role in determining areas of improvement and the appropriate measures. The main aim of any business is to make profits; this is not an exemption, therefore, these strategies aim at improving the status of the business. 1.0 Company description Never Enough Cafe is a small business, which has been in existence for over a month. The main aim of this cafe is profit making, and its mission statement includes â€Å"to ensure that our customer’s professional and courteous service, by selling remarkable coffee at fair prices and maintaining a clean and comfortable space for our customers and staff; to consistently provide our customers with impeccable service by demonstrating warmth, graciousness, efficiency, knowledge, professionalism and integrity in our work, with a focus on styl e and hygiene.† The main objective of the business is to attract customers by offering the best services, with an aim of increasing revenues. This business specializes in only one beverage, which is coffee, but which varies from coffee latte, coffee black to cappuccino. The company is in its growing stages and has 10 employees among which three are managers while the rest are servers. The manager’s salaries are $670 while the servers are paid $9.00 an hour. The business operates six days in a week and recently changed its opening hours to 8.am as opposed to 9.am. The current prices of our coffee are as follows; small cup at $3.00, medium cup at $3.50, whilst the large cup goes for $4.00. This business has adopted the differentiation strategy, which enables it to be unique in terms of its products and services, for instance, by offering a variety of different type of coffee and in different sizes so as to cater for all types of customers. In addition, the cafe possesses a four-cup automatic espresso, which contributes to effectiveness when catering many customers. The cafe is also insured and has adopted a logo, which is visible on the coffee cups. The cafe markets its product via the newspaper at $200 per day and on the radio twice per day at $560. The cafe is located on the main street, therefore targeting a variety of customers, who include university students, the university staff, downtown entrepreneurs, and their clients. 2.0 Market analysis Marketing analysis is used as a tool by businesses aiming at understanding their operating environment better. According to the local labor news, the average manager’s wages is at $635 per week while the server’s wages are at $8.88 per hour. Nevertheless, our cafe pays the employees above the local average rates, such that, servers are paid $9 per hour while managers are paid $670 per week. In addition, the average turnover rate is low in the market as it is at 14%; our cafe has not had majo r issues with turnover as only one server has quit since the business started. We opted to offer our employees on-the-job training, which is cheap and effective. The employee salaries have always been reviewed and increased when necessary, according to Lathan (2009, p.78), motivated employees result to higher performance, which in return increases a company’s productivity. In period six, the customer satisfaction rate was at 54%, while the industry average customer’