This guide quickly covers how you can practically start your business plan. I wanted to focus on certain points right now: so please look forward to the next instalments of this series of business plan tamplates.
Lets build a basic business plan:
Business idea: fast food restaurant
Product:
I want to sell healthy food and promote healthier food options to my customers. Promoting options like salads, organic meats, grains like rice, quinoa and gluten free options for bread and pasta.
Due to corona virus restaurants can not open to the public, only take away options are available. Most take away shops sell unhealthy options, not organic and contribute to the health problems of the public.
Solution:
I want to offer healthy food options, that taste great and are affordable and give people the option to improve their health whilst in quarantine, by offering a healthy menu that isn’t affected negatively by the time it takes to deliver the meal.
The menu will be diverse offering a variety of meals such as sandwiches, burgers, salads , soups and pasta.
The people who buy healthy food options are the same people who exercise, professional athletes, have medical problems and/or trying to lose weight.
Competitor analysis.
Within a 2km radius from my proposed location are 4 large scale fast food restaurants. They serve delicious food, the wait is short and they are well known and established for years.
(Is there a business that already exists that does what I want to do successfully?)
Established 1987, in San Francisco. Has expanded to operate in 48 states in America and has opened in Canada.
Panera Bread has specialised In wholesome food, using whole ingredients and displays the calories per meal as part of their menu. They cater to an audience that is health conscience and also to the masses by offering delicious food conveniently and at a competitive price.
Why are they my ideal example?
The selling point of Panara bread is clean, healthy quality fast food.
they cater to the health conscious demographics and offer a variety of options that include vegan, vegetarian and pescatarian options. The food is delicious, the service is great and the menu is vast.
To further identify my target market I have collected information from websites on the fitness industry.
San Francisco–Oakland–Hayward, CA 57.8 percent exercise.
(taken from https://www.livescience.com/60445-cities-regular-exercise-rankings-full-list.html)
San Francisco population in 2021 is estimated to be 875,114, Its area is 231.91 sq miles
(taken from https://www.populationu.com/cities/san-francisco-population ).
San Francisco's age distribution shows that 13.4% of its population is under 18, 9.6% are 18 to 24, 37.5% are 25 to 44, 25.9% are 45 to 64 and 13.6% are 65 or older. The average age is 38.5 years, and San Francisco has a smaller percentage of children than any other major metropolitan area in the United States.
(taken from https://worldpopulationreview.com/us-cities/san-francisco-ca-population).
Now I know that the average person in san Francisco is 38 years old, that 3 out of 5 people exercise and 40% of the population is over 45.
Now I understand who will be walking through my door to purchase food.
Further details I might want to gather are:
Local communities such as religious facilities, environment type government, suburban, local business parks and monitor competitors for peak times and accommodate what the customers require at those times.
MY BUSINESS SWOT ANALYSIS
· Create database of all small fitness centres, personal trainers, boot camps and local gyms.
· Addition to database create survey of all large businesses that operate in the local area and survey if they have any affiliation to local gyms or stores and restaurants.
· Visit all religious centres in the local area and enquire into any diet related needs for that specific community.
· If possible, create relationships with local farmers and local farmers markets to procure quality ingredients and marketing affiliations.
· Research local food bloggers, influencers and key/ famous locals.
· Use google maps to create list of local businesses and use this for email listings and offerings.
This should grant me the potential of $5- 10 000 of marketing value. But for free.
Once my business is operational, equipment has been purchased and the business is producing products.
My first marketing tactic will be to contact every fitness centre and trainer and offer them a $30 voucher for my store(with a 2 week expiry date). This allows them to sample a significant part of the menu and it creates enough urgency to have them attend quite quickly.
It is important to note that a $30 voucher will only cost me $12 - $20, as im only calculating the cost of the goods, not the profit in these expenses.
We want to pay for results not for advertisement more on that in another post.
Realistically, these promotions generally have a 5 – 10% rate of return (If successful), however these figures can be higher based on the target market. Fortunately self employed and non-business day operating professionals tend to have more downtime throughout the day and this can boost our success rate.
Desired Result: The trainers who visit and enjoy their experiences will spread the news of our business to their customers and friends.
Calling local businesses and companies for their fitness affiliations is a great tool. This firstly helps to identify if the workplace is promoting a health trend internally, if not then you can simply approach them with menus, discounted delivery and fixed delivery times with their fixed lunch break time.
By complementing their work schedule, it is possible to win them over due to the sheer convenience of the agreement.
If this organisation is promoting a health trend internally but have no fitness affiliations, this can be used as a tool of leverage with the fitness trainers who where invited with the vouchers.
by offering them sales leads and opportunities to grow their own business, you are more likely to build trust and loyalty with them.
Lastly, if the business has trainers, it generally becomes easy to acquire their contact details as these organisations will assume you wish to be a future customer. Then absorbing this trainer into your network will give you indirect promotion opportunities with the organisation that gave you their information and their employees.
Religious centres are a great way to build relationships in the local community, as they are greatly appreciative of any business accommodating their beliefs and are more likely to support local businesses that they feel sympathise with their beliefs, even if you do not share them.
Respect goes a very long way in business.
Local farmers / farmers markets are fantastic. By purchasing ingredients from them they are more likely to promote your business instore as an affiliate partner. Farmers are usually well known in their communities and well respected due to providing quality ingredients and with the shift towards organic foods. Farmers are getting more recognition than previously.
Food bloggers and local businesses. These 2 are great. But should be doen methodically and over a period of time. Food bloggers are looking for something unique to post about and businesses are looking for ease and convenience.
They both differ greatly, a blogger is more likely to come and sample your new winter dessert menu prior to you making it publicly available for the exclusivity. However, the worst thing that can happen is they don’t respond and you’ve lost nothing.
Upcoming influencers are great for this, if you can find local youtubers / tik tokers with only 5 000 followers or slightly higher, that’s a great way to access locals as their friends and families are likely subscribed to them, and you'll find its very cheap to bring them in.
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