Students are required to provide a final business plan report that they have been working on in the midterm assessment. Revisit all the research and analysis done in the midterm assessment to improve the first part of your business plan
Include at least the following additional information in your business plan:
o Elevator Pitch – write a speech (1-3 minutes length) where you explain the business and where you try to persuade investors to participate in your business
o Sales forecast. Use at least two different methods to justify your year 1-5 sales forecast. Indicate what assumptions are you considering and what real/researched information are you using for the estimation
o Marketing strategy and budget. Explain the main 3 strategies you will use to achieve your sales
o Define the legal structure and the initial capital required
o Define the outsourcing services you will use. Describe all the functions that you have to cover and identify which ones you will hire
employees or you will do yourself and which ones will be provided by a third party. Justify your answer and estimate the cost of it o Risk & Insurances. Are you planning to hire any insurance policy?
o Basic Financial study:
Calculate the break-even of your project
Present a 5-year basic P&L. Explain the main assumptions and calculate the ROI
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Course name: Entrepreneurship and New venture creation |
Professor: Mrs Clara Lasala Grimalt |
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Student name: Riccardo Begnini |
Program: Bachelor of Business Administration |
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Date of submission: 07/11 |
Year: 2021 |
Assignment/ Case (e.g. name or/and assignment’s number):
Academic Year 2021-2022
Semester: 3
DECLARATION BY STUDENT
I hereby undersign that the work submitted is my own effort. I certify that all material in this Dissertation, which is not my own work, has been identified and acknowledged. No materials are included for which a degree has been previously conferred upon me.
Signed (Student): _____________________________
Business Opportunity
There are limited number of ecommerce business that sell groceries. Even with all the online business ideas that have been implemented, it still tends to be so profitable. Majority of the ecommerce stores mainly offer shopping of all other items but they do not sell groceries. Our firm will as well provide free delivery services to its clients. Using innovation our business idea aims at creating a seamless experience to allow customers to shop anytime and anywhere online using their phones as well as in stores. We as well aim at making each day easy for busy families. Other than other items people tend to buy from online stores, they tend to buy groceries every day. Thus we will major making it easier for these individuals that come home late tired. We will deliver these products at their doorsteps.
Testing the Idea
When preparing to begin a business, one is expected to test the business idea to make sure that it is viable. Evaluating the business idea is to find out if it is an effective business model. In order to test our business model we will being by building a prototype in order to get honest as well as genuine response. We will then consider building a minimum viable product which the simplest way that one can use to sell as a product. Upon getting our first prototype we will present it to potential clients (Caramela, 2020).
We will then create a market plan and use it. This will involve making a list of 100 things which can be used in marketing the product and then implement the list. in this process, we will speak with more than 500 individual on the product. Through this we will have data for our product. We will know individuals interested in it, as well as how to improve on our business idea.
Final products
Our grocery store will offer curbside delivery of groceries which will be have been ordered online. Using the firm’s website or application our clients will select a number of items and buy. One will as well have the ability to select the appropriate time when the delivery will be done. Then our firm will ensure that the products will have be delivered on or before this time. The store will provide a wide selection of foods as well as products. People will easily shop for various forms of foods which may include meats, eggs, dairy products, canned items, grains, snack as well as supplements. One can as well choose fresh fruits and vegetables. Product availability is subject to that which is in stock at the store. Out of stock products will be substituted with similar items. Our Grocery store is speculating to have $30 minimum of all orders placed. We will provide which fits almost all forms of diets.
Value proposition
Value proposition offers an overview of items which offers value to specific customer segments. In regard to our grocery store, we will major on providing good, and varied merchandise, easily accessible as well as with the best service. We will as well provide the clients with a wide a number of items at an affordable price in a convenient way possible.
Competitive advantage
Our firm will provide high quality products at a low prices. It will be among the cheapest grocery shopping places. We will as well highly invest in training, developing as well as managing our employees. The main difference between our grocery store and out competitors is that other delivery services allows us to order from various grocery stores in their areas, however our grocery store tends to limit one to items in its own stores. Our workforce is among the greatest assets, providing innovation can build an interesting opportunity.
Target
Though our business tries to major on consumers of all age categories, our firm mainly majors on younger consumers referred to as the millennial. Our firm majorly markets to Millennial since they are young consumer who are not yet loyal to specific stores. The business will market to the younger generation through integrating social media in the marketing campaign. The millennial prefer shopping at our grocery store instead of retail store due to low prices on essential products such as fruits and vegetables. .
Business Model
Our business model will change the retail firm into the main grocery supermarket chain with about 5 store in the US. For a start we will employ about 100 employees and serve about 10, 000 clients. Our Grocery store will have accumulated about $10,000. Our brand will be publicly traded family based firm under the command of the Waltons, involves a retail chain that its business model is based on mortal retails. Its ecommerce has been expanding efficiently.
References
Caramela, S. (2020). New Business Idea? How to Test It Before Launching. Retrieved from https://www.businessnewsdaily.com/6540-how-to-test-your-business-idea.html
