Hubs Snack Bar Inc 1 Page Business Plan
Overview
Hubs Snack Bar Inc has a clear business objective to produce Restaurant services. These services have been developed over 1 year with a core focus on addressing the key customer needs and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to launch a new product. While our existing products have been useful for testing the customer needs, new products are required to fully capitalise on our business potential. Our growth path is clearly oriented around the addition of new products, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our budget.
The Customer
Hubs Snack Bar Inc has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer need as adding a much needed restaurant to the area. Currently, there is no available restaurants just convenient store food. This is a critical issue for our selected target market of Area diners, looking for breakfast and lunch..
The Value Proposition
Hubs Snack Bar Inc is uniquely positioned to deliver value to area diners, looking for breakfast and lunch.. "Hubs Snack Bar Inc will We will serve quality food for a reasonable price.." In order to be deliver on this value proposition, we note that the area has no eateries within 3 miles. Located in an industrial area, we have repeat potential daily customers. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the Restaurant market. We consider our key competitors to be: Stewarts, Mr Bs, Broad St Cafe, Bubbles and The Periodic Lunch Table. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Stewarts, Mr Bs, Broad St Cafe, Bubbles and The Periodic Lunch Table as we can easily compete due to our location, quality of food, reasonable prices. .
Key Strategies
Over the next 6 months our focus will be to Create a dining environment to serve customers in the area. Offering signatures dishes, good prices and excellent service. This task will be undertaken in the context of our broader strategy within a 12 month period, we will take the market share from the other area eateries. We will add additional summer hours and offer outside dining and ice cream. This can add an additional 50% profit margin. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Market our product to gain market share; Offer apps and online ordering to make it easy to get our product; Extend summer hours to add more customers.
About this document
Restaurant Business Plan
This document was created by Barbara Hubbell of Hubs Snack Bar Inc using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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