DEPT: S.E.M
COURSE
CODE: MAN
461
NAME
OF BUSINESS VENTURE: FOOD SUPPLY
CONTENTS
Executive Summary
Business Description
Business Environment Analysis
Market Analysis
Marketing Plan
Operations Plan
Management and Organization
Financial Plan
Conclusion
Conceptualization
EXECUTIVE SUMMARY
Food
supply is a rare business in my locality called Abakaliki. The town Abakaliki is the
main capital of Ebonyi State and does their businesses mainly at a central
place where everyone operates free entry and exit system. In order to carry a
close door advertisement of these products so as to save most customers who
oftentimes do not have the time to go to the market in search of their demands,
I decided to engage myself in it to reduce the high rate of unemployment in my
state and it will also help some of our people who are always occupied with
activities thereby not able to reach the market to get their needs because of
the nature of their jobs. Indeed, I decided to introduce this business to
reduce the working class the stress of going to the market at odd period and,
as well assist in improving my standard
of living through financial improvement..
By doing this, I will be the one to go to them
and distribute the goods, I will be at their service as their provider anytime
they want my supply and I will package the goods in such a way that when they
receive the goods, they will be convenient and satisfactory with the goods.
Though
it is still a small business organization that does not require huge sum of
money for a start but I believe that through the assistance of my customers who
buys regularly from me will help enlarge the business and attract more customers
thereby bringing a positive change.
BUSINESS
DESCRIPTION
Based
on the system at my locality via Abakaliki, I found out that food supply is
rare and that it will boast my financial up-liftment, I decided to engage in such
business.
Most
times, some workers especially bankers do not have time to go for personal
shopping due to the routine of their jobs so I decided to take the advantage of
that to package food stuffs such as rice with the recipes for preparing it,
beans and recipe, soups, leafy vegetables, etc required to make one meal, for
one person or two or even for the family.
Thus,
I need to vary the packages and sizes. I also decided to buy a sealing machine
which is not too expensive and I will label my business name on the package to
be distributed which will bear my name, my contact and address to enable those
that need the supply of my goods to get to me easily.
BUSINESS ENVIRONMENT ANALYSIS
Looking at the nature of my business, it
does not need hectares of land for establishments, I can simply rent a size-able
shop situate at a known area in the city to begin the business and after which
if progress comes in future, it can call for larger shop or land enlargement especially
in Abakaliki which is still a developing area but has shops for rent.
And
the location of the small firm must not be situated in market areas, rather
places where the buyers can easily reach at any given time.
MARKET
ANALYSIS
Based on the relative prices of food
items in the market, some ingredients are less expensive while some have
increase in price due to scarcity and everyday artificial inflation in the
country. For instance, a bag or a bussel of rice (both local and foreign) have
increase in price while painters of garri still have their market price to be
stable.
Even
though business is a poll of risk, no manager is planning for loss. With this,
it means that if a change in market price will eventually affect the cost of my
products but because I supply them my goods with sincerity, I will inform my
customers with the sudden increase in market price and that will lead to
increase in my goods at a minimal rate while a decrease in market price will
cause a reduction in the prices of my
goods in order to maintain a good relationship already established and to beat
any competitor that might wish to compete with me.
MARKETING
PLAN
As
it is still a small scale business I will start by going in from one person to
another most especially those that are not opportune to get to market due to
one problem or another, advertising my goods and on the goods will be labeled
my name, phone number, e-mail address etc. so that if they cannot reach me at
my place of work they can contact me via phone or mail.
Also
10% discount of cost prices is given to the first set of customers using this
as a business strategy in order to attract others not gotten to my reach and I
will ensure that my goods are purchased from companies or commercial farmers
which will be less expensive and will aid me to sell at cheap rate.
OPERATIVE
PLAN
The goods will
be packed in various proportions depending on the demands of my customers.
Example, if he or she needs recipes for preparing fried rice or jellof rice, I
will package all the recipes and bring to the person.
Likewise in other food stuff like soup
recipes, beans, porridge yam etc. the packages will vary in sizes depending on
the number of people to take the meal.
MANAGEMENT
AND ORGANIZATION
As a small
business and as a beginner, I do not need to have partners of staff to help me
in distributing my goods because it is a sole proprietorship but will employ a
casual staff whose payment will be based on the supply and the amount realized
on daily sales. I will do the business in a small shop that will not cost much
money. As soon as the business grows and
requires me to employ people that will help me then I will employ reliable
people that can participate in running my business.
FINANCIAL
PLAN
For a start, I
do not need huge sum of money to start my business. I will use the sum of
N30,000 to start the business. I will purchase little foodstuff to begin it and
know if it will turn out good and also to inform people about my business then
when the information has gotten to people and they act positively towards it,
then I can now think of a bigger means of making the business a bigger firm.
CONCLUSION
Supplying food
stuff to people at their close door might be a hectic business but I think it will be of high profit to embark
on and it will also enable those not opportune to reach the market to get their
demands at affordable rate in their house. I will also sale at a discount rate
making the purchase easier and profitable to my customers at various
destinations.
CONCEPTUALIZATION
This kind of business is a stress free
business such that it does not permit the customers to go to the market
bargaining goods from places to places in search of low price which wastes time,
energy. rather, it eases the customers to purchase goods at their convenient
place of work or homes as me the supplier goes to them to deliver the goods.