The Smokin B's 1 Page Business Plan
Overview
The Smokin B's has a clear business objective to serve food and beverages products and services. These products and services have been developed over by taking over an existing establishment with a core focus on addressing the key customer desires and associated opportunities.
The Business Objectives
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 acquire new customers. Customer acquisition is considered to be the critical activity and we are seeking to grow the number of customers. We understand that customer growth could be at the expense of profitability, and that there is a cost associated with customer acquisition. Our long term objective is to build a clear customer acquisition process.
The Customer
The Smokin B's has been created with a clear focus on the desires of our customers. Through a structured customer discovery process, we have validated the key customer problem as Having a lack of mixed food and bar services that can be family, business, or single oriented all in one. This is a critical issue for our selected target market of family and community.
The Value Proposition
The Smokin B's is uniquely positioned to deliver value to Families and the community. "The Smokin B's will provide a unique food service to the local community and beyond. In order to be deliver on this value proposition, we have a local Sports bar that serves smoked and traditional foods with a family atmosphere for all to enjoy. 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 Serve food and beverages market. We consider our key competitors to be: Mi Familia Mexican Store & Restaurant, Pizzaria, Dinos', Viking Korner. Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Mi Familia Mexican Store & Restaurant, Pizzaria, Dinos', Viking Korner by having a full bar, family style dining, Banquet room, smoked and traditional foods, lottery, games and Keno.
Key Strategies
Over the next 6 months, our focus will be to Bring in unique foods, add entertainment, bring impulse spending items and cater more to local businesses. This task will be undertaken in the context of our broader strategy to double the profitability of the existing establishment. 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: Increase profitability 50%, Bring new unique affordable food, and to cater to local businesses
About this document
Serve food and beverages Business Plan
This document was created by Cher of The Smokin B's using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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