The Plug Your Candy Shop 12/1/16
Student 1 Student 2 Student 3 Student 5
3rd Block Entrepreneurship Dr. Wright
Business Description The Plug is the newest store, dedicated to selling the most extraordinary can dy in every neighborhood at the best price with the highest quality.
he target market !or The Plug consists primarily young kids, teen agers parents, and adults !or special occasions such as "alentine#s Day, $others# Day and Easter. The Plug will sell a variety o! candy such as, but not limited to %ollipops, &elly Beans, 'hewy 'andy, 'andy (coops, )un Dip and Bite (i*e 'andy
Business Vision & Mission The Plug aims to o!!er high quality !ruit candies, chocolates, and other sweets at a competitive price to meet the demand and curiosities o! the sweet tooth. Within the !irst year the goal o! the company is to become the best candy shop in the +tlanta area. )ive years into our business we hope to have multiple shops in the local area. he plan is to open one additional store each year so that by the end o! ten years The Plug will have approximately ten stores throughout metro +tlanta. +t the end o! the -th year we hope to have at least one store located in each state throughout the country.
Business Objectives o be the best candy store in eorgia within one year o! opening. o establish and grow a large and loyal customer base. o have every customer leave The Plug happy and satis!ied. o introduce better and new types o! candy and new !lavors to our customers once every two weeks. o increase and better our brand recognition in all o! +tlanta. o purchase and maintain the best and most productive equipment to make candy production !aster and easier with less cost. o have a pro!it margin that increases signi!icantly every year.
Business form of Ownership The Plug is owned by (tudent , (tudent /, and (tudent 3. $r. (tudent , $s. (tudent /, and $s. (tudent 3 are all equally involved in the operation and management o! The Plug . he business is currently structured as a general partnership under the laws o! the state o! eorgia
Location & Facilities
The Plug is located in the great mall +tlantic (tation in +tlanta, +. he store takes up /,000 square !eet, and the leasing cost is 13,-00 a month. We have equipment such as candy producing machines, candy wrapping machines, di!!erent !lavors, and cash registers. he shop has /-0 square !eet !or storage !or candy.
Organizational Structure +ll operations will be split between the 3 partners. +ll issues will be divided into three sections where $s. (tudent is 'hie! echnological 2!!icer, $s. (tudent / is 'hie! )inancial 2!!icer, and $r. (tudent 3 is 'hie! Executive 2!!icer. +ll maor decisions will be decided by the three partners, and part4time employees will be hired to work the !ront o! the shop. hey will start o!! at an hourly pay rate o! 15.-0 per hour. Eventually, all employees will be crossed trained to work all positions at the store.
SO! "nal#sis Strengths $internal% We are known !or our welcoming atmosphere, catchy brand name and reasonable prices. he partners are all young and can relate to the target market. 'andy is an easy product to sell.
eanesses $internal%
$any o! our products are not natural so we have to strategically target customers who are very health conscious which could negatively impact opening new locations. 'an be a challenge to continuously develop new !lavors with repeats or close similarities that are too close.
Opportunities $e'ternal% (ome new opportunities would include new technological advances which make it easier to provide !or the customers. he city o! +tlanta is growing at a rapid pace so opportunities !or growth and expansion are good. here are a lot o! young !amilies in areas where we intend to open stores !or The Plug . 'onstruction o! homes and new !amilies moving in provides an opportunity to increase target market.
!hreats $e'ternal% %arger companies who are already established which makes !or tougher competition. 6ew companies moving into the area with creating pricing wars to establish their customer base. 7oning restrictions !or opening new locations.
Maret (esearch o better understand the market o!!icers o! The Plug will analy*e the market potential o! a candy store in the greater +tlanta area and collect in!ormation !rom a number o! sources. We will survey a variety o! candy distributors and the people o! +tlanta to determine the sales potential o! candy pertaining to variety o! !avorites, best mainstream, best tasting. 'andy has always been a popular product among all ages !or many years and with new !lavors and creations coming to li!e everyday children will always be drawn to this industry.
)n*ustr# "nal#sis 8ndustry (i*e
he 9.( con!ectionary market, otherwise known as the candy industry, is growing !aster globally than it is domestically. his market is expected to see about 1: billion in increased sales in the next !ive years, and premium products are driving the growth. he con!ectionery industry is made up o! three categories; chocolate con!ectionery, sugar con!ectionery and gum products. +ll three categories are characteri*ed by how much sugar and sugar substitutes each contains.
8ndustry >sugar beet>> and the advancement o! the mechanical age sweet4making developed rapidly into an industry and an assortment o! !lavors began to be introduced into the candy mixture. (ince sweets are no longer handmade and started to be mass4produced, they were available !or the !irst time to all people.
8ndustry rowth= 2n the 9.(. market, con!ectionery sales amounted to nearly 3- billion 9.(. dollars in /0? and are expected to reach 35.@ billion 9.(. dollars by /0@. 8n /0?, about 3@./ percent o! all 9.(. candy products were sold through supermarkets, !ollowed by convenience stores and drugstores.
'ompetitive 6ature o! the 8ndustry= he con!ectionary market is a very competitive !ield. here are many maor companies who are already known !or selling popular, mainstream candy. 'onsumers have become accustomed to the idea o! purchasing candy !rom basic everyday superstores, especially when wanted in bulk.
'urrent 8ndustry rends and 2pportunities= $any companies in the candy industry have the mindset that bigger is better. hey also understand the importance o! packaging.
!arget Maret Segment he key market segments !or candy stores in the greater +tlanta area are residents with an a!!inity !or candy and people who want to eat sweets. 8n particular, children who want to spend money to eat new and delicious candy. Demographic pro!iles conducted by our survey say that children between - A and 0C eat the most candy, combined together that#s 3 in +merica.
+rimar# !arget Maret 2ur target market would be primarily kids. 8n a neighborhood there are at least / kids !or every one adult. +t least hal! o! those kids will want to buy candy. We can !ind a location near kid attractions and schools. 'onsidering that our prices are not too high, a lot o! young people will be able to a!!ord purchasing our candy, even kids.
Secon*ar# !arget Marets he lug would also target those purchasing candy !or special occasions such as "alentine#s Day, $others# Day, Easter, etc. 2ur secondary target market would also include the elderly. 8t is a scienti!ic !act that the elderly always have a clear bowl in the center o! the table !ull o! some type o! candy. 8n most cases they have butter scotch, which is one !lavor we will produce. hey also always purchase sweets !or kids, such as their grandchildren.
,ompetitive "nal#sis Filwin#s A good selection o! candy, poorly trained employees %olli Bop (weet (hop A pro!essional, certain pastries taste bad (ugar!ina A creative design, overpriced 8#(9+G A great candy, overpriced Giver (treet (weets A create your own candy, now expanding 8ndirect companies like Walmart and %ocal as (tations can sell the same candy !or less.
(ta!!ing A &ob Descriptions +t The Plug we !ocus on a !un and !riendly atmosphere while also providing our customers with an un!orgettable shopping experience. We look !or employees who will always be ready to work with a smile on their !ace and a smile in their heart. 'andy (tocker4 responsible !or !illing each candy container with the respective candy as well as re!illing containers throughout the day. $ust have customer service experience. ay rate 4 1:.-0Hhour. 'ustomer 'onsultant A responsible !or greeting customers at the door and directing them to their candy o! choice as well as answering any questions necessary. $ust have customer service experience. ay rate 4 1.--Hhour. (tore $anager A responsible !or overseeing the daily operations in the store and managing employees. +ddress any problems which employees, customers and products. Gesponsible !or administration o! payroll and bene!its. $ust have a Bachelor Degree in $anagementHBusiness $arketing. ay rate 4 1Hhour.
(ta!!ing A 'ompensation I Bene!its 'andy stocker hourly wage= 1:.-0Hhour 'ustomer consultant hourly wage= 1.--Hhour (tore $anager4 1.00
Bene!its ?- o!! on all merchandise - o!! as !amily discount
Mareting Mareting ,ommunications
rimary $essage= 2ur primary message is that no matter what age you are no one can deny that they like candy. (o come on in because our candy shop is the most delicious and exhilarating shop and is !ull o! the tasty candy.
(econdary $essage= 2ur secondary message is that our shop won#t be like any other candy shop. 2ur shop is cra*y, innovative, and one o! a kind.
$essage Delivery +dvertising We will put up billboards, candy vehicles, and ads during popular shows showing o!! our candy.
(ales romotion 2n certain days, holidays, and birthdays we give special o!!ers on candy that our customers !ind popular.
ublic Gelations
We will surprise the public by giving them !ree candy. We will also having candy comparisons exhibits between our candy and other companies.
Business Startup & Operating Cost One-Time Start-Up Costs
1. 2. 3. '. . %. ). 8. -. 10. 11. 12. 13. 1'. 1. 1%.
Initial Renovation & Deposit for Building Office furniture Co!puter "ard#are and soft#are Setup installation and consulting fees Business cards and stationer( Decorating and re!odeling *i+tures counters e,uip!ent & Installation Starting product inventor( Deposits #it" pulic utilities /egal and ot"er professional fees Business licenses and per!its dvertising and pro!otion for opening Signage Rent & securit( deposit 2 !ont"s rent Operating Cas" Ot"er
Subtotal
8000.00 3000.00 $%0.00 1000.00 $'2.00 $'00.00 $00.00 $800.00 $300.00 $'1.00 $300.00 $30.00 $20.00 2200.00 $%00.00 $0.00 $1-130.0 0
Monthly Expenses
1). 18. 1-. 20.
Salar( of o#ner4!anager a!ount (ou need to pa( (ourself ll ot"er salaries #ages & co!!issions 5a(roll ta+es or self4e!plo(!ent ta+ Rent
2000.00 %000.00 10.00 1200.00
21. 22. 23. 2'. 2. 2%. 2). 28. 2-. 30.
6,uip!ent lease pa(!ents dvertising print roadcast and Internet 5ostage & s"ipping costs Supplies in7s toners laels paper goods etc. elep"one 9tilities Internet connection :esite "osting and !aintenance ;eneral usiness insurance Business ve"icle insurance
31.
32.
Interest & principal on loans & credit cards
33.
Cand( Inventor(
3'. 3. 3%.
/egal and ot"er professional fees *ranc"ise fee =iscellaneous
Subtotal
$0.00 200.00 100.00 10.00 10.00 11.00 )0.00 0.00 11.00 0.00 200. 00 0.00 300. 00 30.00 0.00 100.00 10830.00
Calculate total start-up funds
3).
6sti!ate t"e nu!er of !ont"s needed to find custo!ers and get estalis"ed Monthly expense for 2 months
21%%0.00
One time start-up expense
1-1-0.00
Total Startup Costs
40!"0#00
-'ecutive Summar# The Plug candy shop is a prominent candy store that is going to be based in metro +tlanta. he
business is organi*ed as a eneral artnership consisting o! three partners. Each partner controls a di!!erent sector, each with separate responsibilities. he three partners have decided to share the overall costs and pro!its equally. We plan to open up several di!!erent shops in +tlanta over the next !ew years, and hope!ully realistically speaking we will start up another shop out o! state. We have already !ound a building to lease !or our !irst shop which will be the headquarters !or our business. 8t is located at +tlantic (tation in +tlanta, eorgia, with a price that is a!!ordable and worth the investment. The Plug will produce and manu!acture most o! the candy internally, however we will have candy !rom other brands such as $ars, 6estle, etc. We will be as inventive as possible and strive to release a new !lavorHcandy every / weeks to keep our customers happy and to increase business. +t the opening we start out by place many advertisement signs on di!!erent exits on the highway. We will also pass out !lyers and !or the !irst !ew days we will stand outside an d hand !ree samples to attract customers. We will try to maximi*e our e!!iciency and cross train all o! our employees to maximi*e pro!its and to ensure employee productivity is high. We are well aware o! our strengths and weakness and will work vigorously to beat all odds. We aim on selling a!!ordable candy that still allows a high pro!it margin. We will have economical prices considering that we are aware that the maority o! our market will be kids. his is why we will increase advertisement primarily to kids. We are also aware o! our top competitors, and strive to create better candy that is cheaper and tastier. We will also make it a point that people o! all ages are welcomed to try our candy, we will do this by promoting
di!!erent types o! candy, and even those that are gluten !ree as well as cand y made with (plenda !or diabetics. 2n special holidays we plan on having di!!erent types o! advertisements and sales.
Work cited= %indell, 'rystal. J6'+= 9.(. con!ectionery market to grow 1: billion in - year.K 'andy 8ndustry, // 2ctober /0?. acyniak, Bernie. J(pecial Geport= 6ew product development making manu!acturers invest.K 'andy industry, @ December /0:.
Business +lan -valuation (ubric E$aluation %tem
>ot De!onstr ated
Does >ot =eet 6+pecta tions
=eets 6+pectations
6+ceeds
0
14
%410
1141
0
14
%410
1141
0
14
%410
1141
0
14
%410
1141
0
14
%410
1141
0
143
'4)
8410
0
143
'4)
8410
0
142
34'
&oints Earned
6+pectations
Executi$e Summary
Convinces reader t"at usiness is sound and "as opportunit( for success Company 'escription o o o o o
Basic Description ?ision & =ission State!ent /egal for! of o#ners"ip Business O@ectives /ocation & *acilities
%ndustry (nalysis o o o
S:O nal(sis =ar7et Seg!ents Co!petitive nal(sis
Mar)etin* o o o
=ar7et Researc" arget =ar7et =ar7eting Co!!unications advertising sales pro!otion and pulic relations
Operations o o
OrganiAational Structure Staffing @o descriptions co!pensation & enefits sa!ple sc"edule
+inancials o o o
Start4up costs 6sti!ated sales & 5rofits Cas" flo# pro@ections
Clear and concise pro@ect #it" logical arrange!ent of infor!ation and a consistent t"e!e Correct gra!!ar punctuation and spelling Creativit( Total &oints
,00
&enalty &oints
/ate 5ro@ect 5lagiaris!
4
Excellence &oints
;oing over and aove t"e e+pectations of t"e pro@ect
+%.(/ &O%.TS
