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Directions: Use charts provided. Replace all BLUE copy in italics with your own comments relevant to your company and your analysis
Name of Company
Greens N Thing’s (GNT) is an eating establishment focusing on heathy, nutritious, and fast food to the local downtown area.
Greens N Thing’s will be a fast casual healthy restaurant in a combination of fast hot or cold sandwiches, wraps, and salads.
Based on this distinct menu, GNT will follow a differentiation strategy that will provide unique, or hard to find choices to other competitors.
The keys to success for GNT will be repeat business, an excellent location convenient to downtown businesses and its unique healthy cuisine.
The company will be a LLC owned by Nick Overocker, Lyndsey Bandyk, Taylor Fairchild, Nate Marcus. The company will need no less than $100,000 of start-up capital. GNT has already acquired a $50,000 from owner’s equity and loans.
Entering into this market will not be an easy task. The industry is highly competitive, with periodic overcapacity, low margins, and low entry and exit barriers. In addition, there are a large number of substitutes but nothing really at the same health conscious atmosphere. The closest real competitor is Doc Greens in Wichita, KS.
In order to overcome these issues, the company has acquired an excellent locality in the downtown area and intends to provide a suitable environment to draw in the company's main target market segment, the young business professionals between the ages of 22-44. The company will seek to provide these customers with the maximum number of services to create the greatest sales volume during the company's peak hours of operation.
The company will have a comprehensive marketing, advertising, and promotion campaign that will maximize word-of- mouth marketing and will consist of radio, printed material, billboards and discounts.
The company has planned to offer its products at a slightly higher price than that of its competitors. This is to provide credibility to its clients that the food being prepared at the establishment is organic and free ranged meat. This will also provide the funds to cover the higher than expected operating costs due to the differentiated and expanded menu.
It is estimated that the company will have sales over $700,000 by year three, and maintain a healthy cash flow.
1.1 Insert an abbreviation of your new business concept here. Two or three sentences which state: Who will buy, why they will buy (what is the customer benefit) and how is this product/service differentiated from competition
1.2 Keys to Success
Repeat business. Every customer who comes in once should want to return, and recommend us. Word-of- mouth marketing is a powerful ally.
Location. Convenience is essential to us; we need to be close to our market because we are not trying to get people to travel to reach us.
The right food, variety with a Pacific Rim theme, with a price high enough to establish credibility, but not so high as to limit customers.
Greens N Thing’s provides a healthy fast-food alternative that keeps the health-conscious consumer in mind. The menu provides an array of options ranging from salads and wraps to soups and smoothies and is classified by caloric intake all made with organic, hormone-free ingredients. Greens N' Things is delivered to the consumer through its first location in Kansas City with their café inspired layout and drive-thru to help accommodate individual’s busy lives.
Based on this distinct menu, GNT will follow a differentiation strategy that will provide unique or hard to find choices to its patrons. This will provide GNT with the ability to charge slightly more for its food services than most competitors and return a significant profit.
Greens N Thing’s will be forming an LLC,…