Work through the sections in any order that you want, except for the Executive Summary, which should be done last. Skip any questions that do not apply to your type of business.
Health and diet enthusiasts Our Competitive Advantage Our intention of starting Crunchy Cashew Nuts Inc is to ensure that we build a business that will be amongst the top ten well known processed cashew nuts brand globally and will be amongst the first top five brands here in the United States of America.
To achieve this huge vision, we have come up with competitive strategies that will allow us compete favorably against our competitors. We intend to process organic cashew nuts, which we know is more difficult to procure but which our clients will prefer.
Our facility is not only one that is well equipped and fitted with standard equipment but is also conducive and accessible to our employees. We have a solid distribution network business plan service processing an excellent customer service culture that will be of great advantage to our business.
Finally, we have great welfare and incentive packages that will ensure that our employees are well paid, and that those who work hard enough get incentives that is intended to boost their attitude. To maximize this profit, we are going to do all that we can to ensure that a large percentage of our target market gets our products.
Crunchy Cashew Nuts Inc will therefore generate income by selling the following products and services; Sale of processed organic packaged cashew nuts — salted and roasted — to all our various clients Franchise Training Sales Forecast The use of processed cashew nuts have spread from commercial purposes to personal purpose, which means there will always be a demand for processed cashew nuts.
Since cashew nuts grow majorly in tropical regions, our location here in Florence — South Carolina means that we are well positioned to meet the demands of our target market all over the United States of America in not only generating enough income but also making enough profit in our first year and breaking even in our second year.
Our optimism stems from the fact that we carried out critical examination of the agro processing industry cum the food industry in order to analyze our chances and know how we were likely to fare not only in this industry but from the environment where we are operating from.
Data and information that was used to forecast our sales projection were taken from similar start-ups such as ours here in Florence and all over the United States of America.
Below therefore are the sales projections for Crunchy Cashew Nuts Inc and based on several assumptions and data gotten from the market; First Fiscal Year-: The above sales projections were carried out based on what we obtained from the industry for the stated period.
Should there be any change whatsoever in the above assumptions used, it would affect our sales projections and might cause an increase or decrease in the figures.
Marketing and Sales Strategy Marketing is a very important part of any start-up business as this section not only has to understand what the target market wants but also know the right strategies that will be needed to be applied on this target market in order to bring forth results — revenue.
The revenue gotten from marketing a business is what is being used to continue to run the business after the capital must have been exhausted. Marketing therefore is very paramount to the growth of a business. In view of this, we intend to first conduct a thorough market research that will allow us understand our target market and what to expect from them.
Also the market research will allow us draft effective marketing strategies that will allow us have a huge share of the market and also be able to compete favorably against our competitors, not only here in Florence — South Carolina but all around the United States of America.
We will also look for new target markets so as to gain grounds and have a large share market. We intend to engage the services of a reputable marketing consultant who has experience in this industry and environment to help draft effective marketing strategies that will allow us stand out in the market place.
We will also empower the marketing consultant to ensure that he or she works with our marketing team to incorporate our corporate marketing and sales goal and help us achieve our goals and objectives. We intend to ensure that our marketing and sales team are not only empowered to monitor the marketing strategies drafted but also review and remove the ones thought to be ineffective or ones that will not fully achieve what we intend it to.
Our marketing and sales team will also make use of technology and other means in ensuring that our processed cashew nuts are marketed to our target audience. Publicity also ensures that the image of the brand is positively communicated as well as its corporate values. In view of this, we intend to engage the services of a brand expert who not only understands the business thoroughly but the environment we are operating from and what strategies would best be applied that will allow more people to be attracted to us.
Also, the publicity strategies that would be proffered will be one that will allow us compete favorably against our competitors — new or already existing.
The platforms that we intend to use therefore in promoting and advertising Crunchy Cashew Nuts are; Create an interactive website and do all we can to publicize our cashew nuts and other products Place advertisements on local newspapers and lifestyle magazines as well as on radio and television stations Place flexi banners in strategic locations in and around the environs of South Carolina Distribute our handbills and fliers in target areas Use social media platforms such as Facebook, Twitter and Instagram to vigorously promote our brand Participate in local community programs by sponsoring programs that would promote our cashew nuts processing business Our Pricing Strategy Setting the right price for our cashew nuts is very important especially as we intend to make profit from our business.
It is important therefore that we identify all the factors necessary so that we would be able to offer fair prices to our customers whilst also not running at a loss as a business ourselves.
The factors that we will consider are what our overhead and running costs are, what our competitors are offering and what the industry determines as fair without causing a price war.
In order therefore for us to attract the number of customers that will allow our business to grow as it should, we will be offering a discount on our processed cashew nuts for the period of three months. We have carried out a careful study of this period and have determined that even though we will be running at a low gross margin for this period, we will not be incurring any loss whatsoever for our business.
Payment Options Due to the all inclusive payment plans we intend to adopt at Crunchy Cashew Nuts Inc that will accommodate all our different customers and their diverse preferences, we have carefully studied several payment options and come up with the best.
Some of the payment options that we therefore will make available in every of outlets include; Payment via cash Payment via Point of Sale POS machine Payment via Credit Card Payment via online payment portal Payment via bank draft In view of this, it should be noted that we carried out careful deliberations on each payment option before adopting it.
The above payment options will be advantageous to both our company and our clients as well. Start—Up Expenditure Budget When starting a cashew nut processing business, there are certain aspects where one is expected to spend the bulk of the generated capital on, and most of the bulk of this capital is usually used for stuffs that are majorly under overhead expenses like renting a facility, procuring equipment and getting a vehicle.
Others may be running expenses such as paying the salaries of employees as well as utility bills. The bulk of the sum will be going into paying of salaries and utility bills for at least 3 months, purchasing a delivery van, leasing a facility and also getting the necessary equipment that will be used to run the business and get the cashew nuts processed.
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A business process or business method is a collection of related, structured activities or tasks by people or equipment that in a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. Business processes occur in all organizantional level and it may or may not be visible to customers.
This section of the current Business Continuity Plan is used to describe the Business Unit(s) that will be recovered by following this plan and what recovery actions will be performed in response to a business interruption.
3. Description of Service. A. Briefly describe the business activity that you would like to offer as a Merchant, e.g. conference registrations, payment of fees and services, memberships, subscriptions, etc.
Please be clear on your intent. B. Who is the target audience for the business activity?
(MIT faculty, staff, students or non-MIT affiliates?) C.