The small unit is intending to transform itself into a proper fast food restaurant by means of innovative and resourceful strategies. Presently the point is offering few local fast food items to the general public of Cottage Grave. This business plan has been made after making a comprehensive research and evaluating a variety of issues concerning fast food restaurant industry in Minnesota in the city of Cottage Grove. The main purpose and scope of this plan is to provide particular information about the industry and to highlight the critical areas for successful launching of a new fast food restaurant in Minnesota. The data discussed in this business plan is based on some certain facts and has been collected through number of sources. A careful attempt has been made to present real time data, however, this information may change at any time due to occurrence of any changes in the target market, and thus the actual outcomes may differ from the projected results. 1. Mission Statement Generation of revenue and profit is the main purpose of any organization and same will be for Minnesota Fast Food Restaurant. Since it’s a service provider unit, therefore, customer service is the base of its existence. Our aim is to become the first choice of the customers and make them staying with us again and again. We believe in PEARL as our core value i.e. Passion for excellence in doing everything Execute with positive energy and urgency Accountable for growth in customer satisfaction and profitability Recognize the achievement of others and have fun doing it Listen and more importantly respond to the voice of customer 2. Market Analysis MFFR will operate its business by keeping a target market of very general nature in front of it because Cottage Grove is a small area having a population of only 34,589 in 2010 census According to the census conducted in 2000, there were 9,932 households and 8,462 families living in the Cottage Grove. Our restaurant will address the youth population, between ages 18 to 44 years, as its target market because it is 41.8% of the total population. Population under 18 is almost 32.7% of the total population (Census Redistricting Data, 2010). In Cottage Grove, the per capita income for the city was $28,348 in 2009 (http://www.city-data.com/city/Cottage-Grove-Minnesota.html). The market behavior of US fast food industry is interesting and it has been observed that generally three types of orders are placed in fast food restaurant. These orders are placed with respect to nature of group and family. The figure shown as Appendix-I indicates that lunch and dinner items are having a larger share of the market as 29% of the US fast food industry consists of it. Snack items and related beverages contribute 22 and 21% respectively while hot coffees, breakfast items, and side dishes have a combine share of 28% (Menu Composition Analysis, 2010). Since fast food industry is dominated by several global companies, therefore, MFFR will face a strong competition in Minnesota. Presently McDonald, Domino, Yum, Papa John’
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xxxxxx Student No. 123456 MARKETING (MINI BUSINESS PLAN) Professor: ABC University of XYZ Department of Business Administration 15 May, 2012 Contents Contents Page No Introduction 03 1. Mission Statement 03 2. Market Analysis 04 3. Marketing Mix 05 3.1 Products 05 3.2 Pricing 06 3.3 Distribution 06 3.4 Promotion 07 4…
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