Grand Business plan developed a business plan for a convenience store chain.
This plan also includes chapters on the business, offering and key benefits for customers, market focus and forecasts, sales and promotion plans, competitor analysis, a management team, and a detailed financial plan.
In the executive summary, you can state the purpose of business plan. I.e. for funding from Irish banks or attracting investor for Irish venture.
Our initial statement to lenders, this business plan, is a candid disclosure of cnvn’s business Proposal – we intend to set realistic business expectations and eliminate any questions about this new venture’s profitability.
An introduction of this business plan.
You can state what this business Plan covers.
This plan also includes chapters on the business, offering and key benefits for customers, market Focus and forecasts, sales and promotion plans, competitor analysis, a management team, and a Detailed financial plan.
Total funding for new business will be €300,000 from a combination of owner investment of €222,000 And bank funding of 78,000. The main cost of start-up will be fixtures and fittings, inventory, Equipment, and refrigerators. It is estimated that the total cost for refrigerators will be 90,000 euros, of which 78,000 euros will be funded through a bank loan.
CNVN will set up three businesses in a leased premise containing 3 Floors of the building. The Company is entering into a ten years Lease Agreement for a 3-story building located in Henry Street, Dublin, for an annual rental value of €225,000. Three Floors of the building will support three different businesses. Ground Floor will establish a modern convenience store focusing on health items. The Second Floor will have a Café, and the third Floor will build a Cookery School. CNVN will be a premium convenience store, located at the heart of City Centre Location Henry Street in Dublin. Bushiness aims to increase penetration of the Dublin food market, and our intention is to maintain and grow the brand for the long term. We aim to serve the nearby residential community and working-class of Dublin by providing them all they need under a single roof. We have strategically selected a ground floor of a property, located in Dublin’s main city center, to be converted into our store. The location is ideal for opening a convenience store since it is amidst all commercial tourism and business activities and a very central and sought-after location.
The business will be operated under CNVN, a successful group of companies in Dublin. Mr. Al Blogger has been associated with several restaurants in Dublin and also wholesale distribution business. Due to the strong background and experience in the sector, Mr. Al Blogger knows precisely how to start a convenience store, and he has all the resources needed for creating a convenience store. Mr. Al Blogger himself will manage the Company, and he will be assisted by experienced team members who are highly experienced in retail businesses. The store will be operated and driven by two shifts of workers. A law firm will be contracted to cover the legal aspects of the business, and an insurance firm will be contacted to insure the Company.
The convenience store industry is one of the few sectors that have seen a constant increase in revenue and the increase in business locations with time. The number of convenience stores has increased during the last three decades and is still on the rise. The main reason behind this increase is that it is straightforward to open a convenience store, as you can see from the hundreds of convenience store examples present in every major city of Ireland. The actual challenge is to successfully manage that convenience store to yield profits from the start.
Although there are other established convenience stores, we have several competitive advantages over other competitors. The first one is relationships with the suppliers, and the fact business is already in the Food Distribution space, it has strong purchasing power. It can offer quality food items at competitive rates. Our second competitive edge will be the availability of everything, every time. Unlike other stores, we will make sure that our stock never runs out and everything our customers may need is available to us. Finally, our customer service will be the best in town and will also give us an edge over other convenience stores.CNVN’s competitive edge is its location, focus on customer service, and the owners’ experience and knowledge.
Detailed and conservative projections anticipate growth in profit yearly.
The company will make a healthy profit for its owners and provide a rewarding work environment for its employees. The slogan is “because people matter. The company’s mission is about friendliness, individual pride, and company spirit. All of this helps create the continuously positive cnvn’s customer experience unique to the business.
Our vision is to be viewed as a respected quality convenience food store and cafe, providing high-quality food and beverages at a reasonable cost.
Here you can include what are key success factors for a convenience store in Ireland.
The keys to the success of cnvn are as follows.
Our most significant performance standard is the Steps of Service.
Our standards will be fully and consistently implemented only once we provide on-going training and coaching to our employees. Day-to-day supervision is required to ensure that employees follow the correct procedures every time they perform a task.
Key to Success is
To improve our Savoury food menu, we will apply the operating template for food production. In contrast, it is necessary to maintain the standards that have been set for the patisserie, sandwiches, fresh juices, and Bakery.
The Company aims to develop a brunch menu to increase weekend demand while delivering on-demand dishes within five minutes.
Café will align the operations of the Bakery with the budget. It will structure the menu to efficiently produce many menu items and serve food within five minutes after customers’ order.
Hygiene and CCP reporting are a mindset, and businesses accept only the highest standards.
Roles and Responsibilities of Cafe Management Team
The Company will recruit for a chef manager.
CONVENIENCE STORE Limited was formed on 13 April 2018 under the laws of the Republic of Ireland.
The Company has a food distribution business, which supplies to several restaurants located in Dublin. CNVN’s Convenience Store and café will be an add-on to the existing setup. The store will occupy a leased property, which is located on Henry Street Dublin. The new building contains three floors.
Mr. Joe blogger is the sole director and holding 100% shares in cnvn.
Cnvn has appointed happy accountants limited as its accountants and advisers.
Cnvn is registered as a limited company with a company registration office in ireland.
Cnvn will conduct three operations on separate floors on a leasehold building.
A health theme convenience store will be established on the ground floor. The first floor will set up a café and food service, whereas a cookery school will be set up on the second floor.
Dublin has a booming grocery Market as consumer trends within the Irish grocery market shifts further towards quality Irish foods.
Dublin’s food to go scene is flourishing, driven by healthier food and drink options, vegan and plant-based offerings, personalization, digital technology, and sustainability.
Although CNVN thinks to have significant advantages over competitors and many opportunities to exploit to develop and write a company success case, there are also potential risks and threats that should be considered in managing CNVN.
Our customers define competition. Our competitors are the set of alternatives considered by them. The increase in food offerings in the area will further enhance Henry Street’s status as a destination for socializing. Currently, Covid 19, increased cost of raw materials due to inflation, the pressure to improve the living and minimum wages, increased competition, increased shortage, cost of obtaining skills in a craft, and the outcome of Brexit are unknown. If the market slows, over-saturation will occur, and only the most relevant and cost-effective businesses will survive for us to compete.
Our competitors include conventional outlets, delivery services, like Deliveroo and Just Eat, and better in-house or office solutions. These offerings take customers off the streets and out of our reach or bring other competitors within our customers’ reach. As the weekend and weekday customers’ needs differ, we developed sets of considerations for both types.
Competition in the grocery market has not been fiercer. However, major retailers want to gain more and more of a share. Among retailers, Tesco has a 22% share, and after that comes, Super Value stands at 21%.
Reflecting a broader shift in leisure activity, the area surrounding Henry Street is becoming increasingly attractive to foodservice consumers, leading to both a more general potential market and increased competition. The number of Cafe and social outlets in Henry Street, Henry Street is expected to grow further, notwithstanding Bord Bia’s warning that cities have reached a saturation point, as hospitality offerings are increasingly replacing retail units. There is significant evidence that foodservice operations are now paying retail rents in the area and that the differential between retail and retail hospitality is diminishing.
There are many small and big competitors, but CNVN uses its market image and references to capture new clients and survive.
CNVN has identified the leading competitors and other relevant competitors, both local and international.
The main elements of SWOT analysis allow appreciating the degree of these different points:
Our advantages are based on quality, which qualifies us to be considered by consumers. Consistency is the foundation; it is essential, but not enough for us to compete for our consumer’s time, money, and attention.
Some qualities make our convenience store and café different and better enhance our market position, but other competitors have similar attributes. These features matter deeply to our customers; they bring visitors.
Our market is on Henry Street, which has an average daily footfall of 80,000. The purpose of segmenting the market is to help us focus on our offerings and communication.
Our target customers are street shoppers, tourists, and residents who visit the City Centre to work, shop, socialize with friends and family, and discover. They are open, progressive thinkers who are explorers at heart, actively engaged in their communities. They are discerning in their choices. We plan to focus on meeting the needs of both weekend customers and weekday customers. Growth will come from repeat customers and word of mouth. To increase sales, we will improve the fundamentals of how we work. We will gain the trust of weekday customers by offering them consistent quality and reliable service. We will gain confidence in our ability to maintain their schedule. This, in turn, will affect our business on weekends, when there is room to increase covers. We will also improve our offerings and weekend celebrations to increase average spending and increase traffic.
We seek to speak to those with a ‘Healthy Food Grocers’: open, progressive thinkers, explorers at heart, active and engaged in their communities. They are discerning in their choices.
They value a Grocery and cafe experience: Exceptional quality product delivered as an experience; an affair with an emotional and social dimension; one that facilitates a connection with real people and the living fabric of society.
We aim to provide an experience that stimulates six senses.
Who are modern explorers?
Our customers include visitors, local workers, and socializers/shoppers, including individuals and groups (i.e., families, friends, colleagues). Their needs, which can differ in importance depending on the time of day and the day of the week, should inform our usage of resources and the experience that we deliver.
In November 2019, Bord Bia released a report on the Irish foodservice market that the organization found that consumers are spending more money eating out. The most considerable growth occurs among cafés and the hotel sector, with spending forecasted to reach €8.2bn this year. Despite this, Bord Bia said that city centers had reached a saturation point in cafés and quick-serve restaurants and that the tight labor market led to staff shortages. Bord Bia’s chief executive, Tara McCarthy, noted, ‘While we expect to see continued positive activity in the next three years, going forward overall growth figures are likely to be lower than previous years.
A report issued by Dublin Town highlighted that people visiting Dublin’s city center felt that Henry Street was better for shopping than Grafton Street. However, the latter had a better mix of shopping and socializing opportunities. As this shift is causing more people to come to the area for leisure shopping and socializing, it can serve as a real opportunity for CNVN’s.
Another growth opportunity is related to the shift away from the traditional three meals a day. Customers following the current trend are eating ‘on the go,’ and how this occurs vary.
We aim to deliver excellent products as an experience with social and emotional dimensions.
By doing this, we will ensure CNVN is both vibrant and viable. Our target audience is modern explorers visiting Central Streets of Dublin (i.e., visitors, shoppers, local workers, families). This group is split into segments based on their behaviors (i.e., weekday and weekend customers).
CNVN has clearly defined its target market and is willing to adopt some of the winning formulae that will help capture good market share.
CNVN using the below tools to advertise its services,
Social media is our hub for connecting with the clients and keeping them involved with promotions and introducing them to our new offers.
Social media has been the enabler and has motivated many trends to hold a place in the market. Social media has been driving our lives according to the market’s needs, as what we see affects a lot of our needs.
CNVN has a dedicated website that’s hosts all the information about its services, and customers can connect and book their appointments.
To create trust among the clients and communicate with them the quality of our services, it is imperative to generate word of mouth through a comprehensive online presence.
CNVN is advertising its services in the classified section of local and international magazines and newspapers.
Revenue diversification as much a defensive strategy as it is a growth strategy. Developing a company so that it is not overly reliant on one or two revenue sources is not a sound strategy. Any consulting company needs to ensure that it works within clients’ budget to deliver excellent and world-class services.
Our pricing policy is three-pronged. We will supply higher-quality, value-added, premium products and measure our improvement with quarterly surveys.
Our prices will need to be competitive, reflecting our products’ perceived value and align with our positioning. This means consistently delivering product excellence as an engaging experience.
Re Café and Food business, the target labour cost for production will be 10%. In the following categories.
CNVN has adopted the competitive pricing model and offers services in a similar range as its competitors. A competitive pricing strategy helps to identify the best prices that are logically within the market context in which the Company operates and improves profit margins.
CNVN using a price strategy to determine the most profit-maximizing price while maintaining a competitive edge.
Clearly defined roles and responsibilities are vital for organizing Company to consistently deliver product excellence delivered as an engaging experience. All supervisors and management must clearly understand what is expected of them.
Mr. JOE BLOGGER is acting as the Director and will hire staff as per the requirement of CNVN.
OM is responsible for the following:
CNVN has in-house finance team which will be deployed to keep track and grip on the finances of the business’s newly added operations.
In the first year, a more cautious estimate was drawn to calculations.
Overheads are the operating costs of the business calculated using best estimates and judgments.
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Our initial statement to lenders, this business plan, is a candid disclosure of CNVN’s business proposal – we intend to set realistic business expectations and eliminate any questions about this new venture’s profitability.
Total funding for new business will be €300,000 from a combination of owner investment of €222,000 and bank funding of 78,000. The main cost of start-up will be fixtures and fittings, inventory, equipment, and refrigerators. It is estimated that the total cost for refrigerators will be 90,000 euros, of which 78,000 euros will be funded through a bank loan.