Executive Summary
McKinley Coffee Shop is determined to become a daily necessity for local coffee addicts, a place for one to dream of as they try to escape the daily stresses of life, and just a comfortable place to meet and catch up with friends. With the ever-growing demand for high-quality gourmet coffee and exceptional service, McKinley Coffee will capitalize on its proximity to the local town ministry to build a core group of repeat customers.
The business will operate a 1,800 square foot coffee shop within walking distance from the local ministry buildings. Myself being the co-owner and operations manager have already secured this location through a one-year lease with an option for extending. Together with my partners, we have also provided $23,000 of the required $50,000 start-up funds. The other capital portion will be obtained through a bank loan and soft loans from our associates (Gambles, 2017).
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The coffee shop is expected to increase its sales revenue from $100,000 in the first financial year, 2018 to $250,000 in year three of operations. As McKinley will strive to maintain a 50% gross profit margin and reasonable operating systems, it will see a net profit growth from $75,000 to $100,000 during the same period.
1.1 Objectives
McKinley Coffee's goals for the first year of operations include;
Become voted as the "Best New Business Invention" by the local restaurant guide.
Turn in substantial profits from the first three months of operations.
Maintain a 50% gross margin.
1.2 Keys to Success
The keys to success for McKinley Coffee will be;
Shop design that will not only be visually attractive to customers but will also be designed for fast and efficient operations (Matheson, 2017).
A friendly and easily approachable waitress team (Perera, 2018).
Employee training to ensure the best coffee preparation techniques.
Marketing strategies aimed at building a solid base of loyal customers.
References
Gambles, I. (2017). Making the business case: Proposals that succeed for projects that work . Routledge.
Matheson, D. (2017, May). A proposal of practices, processes and models that enable innovation potential. In Proceedings of the 1st International Workshop on Design and Innovation in Software Engineering (pp. 2-5). IEEE Press.
Perera, D. (2018). Business Development Proposal. Organic fruit Drinks for STR Supermarket .
