Hakuna Matata coffee shop is managed by a team of three individuals. It is a joint of every person's contribution and various ideas and skills which we've expressed our best thoughts and interest to achieve the functions of Hakuna Matata. This is a company pursued by three individuals executing the ability of opening a coffee shop right in metropolis centre and best coffee sellers in the town, we have acquired the chance to be not only the best coffee retailers but also to gain a market show and create market segment and almost all of all to create a customer relation, the client could either be considered a walk in customer or a commercial customer.
The major jobs of Hakuna Matata are to become the best & most popular coffee shop in the region offering at least five hundred customers daily. The business's objective is to turn profits for each and every month of procedures and maintain a gross profit percentage of 60%.
Hakuna Matata is specialised in coffee and other value added service is that it offers other drinks like numerous kinds of juices and sodas, dairy, tea and distilled drinking water bottles and goodies, as coffee would definitely be more attractive with delicious chocolate cookies plus some crackers to enjoy the caffeine.
Each person in the team added evenly into the completion of the business plan. Sophistication Busara researched on the management, Halimafilsan researched on the financial plan while I investigated more on the marketing arrange for the business plan.
There are a great deal of various things that may help the coffee shop become more successful that is by useful team work within the 3 folks, including our employed staff, these are the waiters and the security shield, which all play their roles, and are part of the coffee shop. Where the team runs efficiently, we ensure that that each process is been taken charge to work efficiently, that is by assigning the responsibilities equally, so that there surely is all identical inputting to the coffee shop. It is effective to do are a team than as a person as team work comes up with different ideas and views; we become familiar with one another more, which could lead us to the success of our coffee shop. By team work the responsibilities are accomplished successfully.
PROCESS OF IDEA INITIATION
Through our research we uncovered that there are incredibly few coffee shops on the market, the majority of which subscribe to the reduced cost management strategy, therefore, Hakuna Matata as an opportunity on the market and by using differentiation strategy it might gain a market share and create its market segment and create a strong customer bottom part.
There are remarkable curiosity about entrepreneurship in Tanzania, inspire of the united states being a under-developed country; we were able to compile the resources necessary for an entrepreneurship. We came up with three ideas of small size company which would be flourishing in Tanzania for at least the next five years.
The idea of creating a business of restaurant was accepted by very all three participants of the team, that is by considering all the positive factors of beginning a coffee shop in the town which includes the ability which from our research we found out that there are very less coffee outlets in Dar es salaam city and on the market which subscribes to the reduced cost authority strategy, where Hakuna Matata can get an opportunity to use the differentiation strategy whereby we can have an possibility to gain market share and also create market segment and build a strong customer platform.
The notion of a restaurant business plan arrived up after an extended thinking and studying the ideas and views of other proposed business plans which was contributed by the associates. The framework of the business enterprise is quickly progressed, like the experience in the commercial market, that knows how many coffee shops are present in the city and the caffeine shops surrounded near by our coffee shop location.
It takes much more to use a restaurant as such a product, the thought of selling espresso as a drink, we must be able to continually offer what customers are looking for, and therefore we should consider that there is no scarcity of consumers for the espresso beverage, as there less caffeine shops surrounded within the region.
After a lot of brainstorming and doing research of beginning a enterprise in a country like Tanzania, we had come up with several ideas in which we'd three best selections, they are the restaurant, garbage collection and event management planning, all these three ventures felt interesting to us, but we found that the restaurant would me more attractive the market.
INDUSTRY AND COMPETITIVE
The position of Hakuna Matata Coffee Shop fills on the market place, which will be on reason for its success; the coffee shop's goal is to perform its target by being the best coffee sellers in the town, and to appeal to every customer by our caffeine by providing the best espresso and providing good customer services.
The position of Hakuna Matata RESTAURANT will carve out for itself in the market, as it'll be opened the whole day till night time, our concentrate on customers will be all the surroundings offices, these are THE LENDER Of Tanzania, National Bank Of Business, Azania Bank Small, FBME Bank Small, CRDB Bank or investment company limited and many other banks encircling our restaurant, including also the walking customers and other offices surrounding the location of the restaurant.
Looking at the grid, Hakuna Matata Coffee Shop is the sole concept which seems good about its role pf offering and preparing the best caffeine in the city, which captures the households and children and all sorts of genders and ages. It also catches the advantage of relatively short preparation time, and coffee is offered.
Hakuna Matata RESTAURANT is well situated to take benefit of the significant opportunities by growing the industry of providing coffee beverages. The espresso consumption increasing is dependent on the agricultural sector, whereby there are a great number of caffeine farmers but a few espresso beverage sellers in the market, thus Hakuna Matata's bargaining electric power is high and so it can acquire large quantities at a minimal price and the culture of ingesting coffee is definitely there searching for example the neighborhood suppliers who walk around with espresso in a kettle.
Hakuna Matata's market is within the metropolitan area whereby the amount of consumers is substantially high. Since Tanzania is a tropical area and the necessity for cols drinks is essential, thus Hakuna Matata can make its beverages both cold and hot as Dar es salaam city is has a modest temperature above 28 levels centigrade, therefore various types of other drinks will be offered, such as soda pop, tea, distilled bottle water, tea, dairy and different flavors of juices. Within this same segment the clients are further divided into feminine consumer who favor milk tea and coffee which is not strong as the male clients like black caffeine or caffeine that is very strong.
Hakuna Matata is targeting two main customers, you are the preset customers which includes the office staff, shop keepers, college and university students, whereby this group is the most liquid and consume large amounts of coffee each day, since our set consumers have limited time, Hakuna Matata will have store the espresso in the privately owned or operated utensils which can will make it easier to the customers to leave with them as eliminate.
The second goal groups will be the mobile consumers, these are the daily and new consumers, this group involves individual who do not have a fixed location such as purchasers, pedestrians, walk in customers and so many more.
Our competition are categorized into two categories, this is the first priority rivals and second priority opponents, the first priority rivals will be the ones which we have used the differentiation strategy, this consists of serving espresso at the very best quality level. The second priority customers are employing the reduced cost no frill technique to gain a market share; this consists of the local caffeine makers and the street vendors in the city.
Currently the completion for espresso as a beverage amongst coffee vendors is not fierce, whereby owner can go into and leave the marketplace rapidly. Coffee beverage selling is a relatively new industry in Tanzania, as it is not in the culture of Tanzania compared to tea, which means industry is in the talk about of flux, with less market market leaders and nationally known providers or widely recognized brands as the other coffee sellers provide espresso which does not meet up with the taster and the requirements of the consumers.
Presetting a small business plan helps us and the user to identify the aim of the business enterprise and assess it in a crucial manner; it can help us to target in the feasibility of the business enterprise and identify the chances of growth and success. In addition, it enables to manage the business enterprise too appropriately and with a good attitude.
The display of the business enterprise plan is a means of communicating with your business which defines the reason and your competition of the business enterprise and the management; it recognizes the intention of creating a small business into simple fact.
it is important to present a business plans as it pays to if we are applying for a mortgage to invest in our restaurant, or trying to get an investor who can come and spend money on our coffee shop, this could either be our friends and family members or the federal government. The business enterprise plan presentation pays to if we are account raising generally. No one gives us money nor account as we've not organized your business plan positively as the business plan consists of how much cash we need and then for what purposes of the business enterprise, the marketing plan, the sales strategies, the income projection. A business plan guides us on how we can raise capital and gives us a highway map so we should know where in fact the business is accumulating and growing.
By presenting the business enterprise plan it is simple to identify the effectiveness of the coffee shop business, as the demand for coffee increases daily anticipated to your location which is in the city centre, this will also allow us to learn who our customers are. We also pointed out that coffee beverage is a drive product as Tanzania does not have the culture of drinking espresso, though our target customers are mainly, the organization offices, banking companies and other large organizations in the city, as coffee could become seasonal due to the weather in Dar ha sido salaam which is humid through out the year. We also fear new entrants in the espresso market which could deploy our opportunity, although we have fewer competitors.
It is very important to plan the business before executing it to reality, this can make us know how the business is going to survive and expand within the precise time, an enterprise without a plan would certainly fail in a brief period of your energy, hence it also enables us to attain our focuses on and business goals.
Our set up capital is 20 million Tanzania shillings, where each member has added 5 million and another 5 million will be taken from FBME Loan provider limited as a loan. Our assumptions are that people assume a poor development without recession taking place in Tanzania, we suppose that there will be no unforeseen changes in the public health perceptions about our espresso and beverages that we offer to the consumers, we also presume that our money are going to be sufficient to keep up our projected financial plan and we also suppose that it will continue to increase as production increases.
Besides restaurant we also got different ideas on creating a tiny scale enterprise, investigated the marketplace and the environment bordering us, whereby a whole lot of brain storming was done by all the three people of the group and came up with three different cases which we're able to create business programs were coffee shop business plan, event management business plan and garbage collection business plan, whereby our previous and making your decision was the restaurant business plan.
One of the ideas was to open a garbage collection, we investigated and compiled the information which was to target the commercial and residential market, we came up to know that the competition are going to be low but the legal and financial requirements will not be in a position to cop up with this minimum amount in our startup capital. We came to know that there surely is a politics risk in this business as the ministry of health was required to approve the typical of our endeavor.
We had come up with three different ideas between the restaurant and garbage collection; we also had done our research on event management. From our research we learned that event management planning will need a small start up capital and even the expenses would be low, the marketing would be more easier, planning the financials was with respect to the event, being three folks it might be difficult to run a meeting, where a huge labor force is necessary for this venture for this business to perform well and the even to be successful, because of the large labor turnover, as since it is a new business we would have the ability to pay our staff.
Event management being a high profit percentage industry, as everyone would likes activities, and a well organized event the business is highly profitable. This opportunity requires professional skills and high degree of energy for the execution of the event, it also requires communication, strong networking to be known in the market, excellent public connection is very important and most of us three absence experience in happenings once we do not expertise fine art and creation of the venues.
This two mentioned scenarios, disapproved us from choosing to open up the endeavors, therefore we choose restaurant as a enterprise, as we all had the passion of selling coffee and making coffee in various methods and styles and from our knowledge and experience we finally concluded by opening the restaurant in the town centre.
USEFULNESS OF A BUSINESS PLAN
As time passes the business grows. The business enterprise plan is a very useful and strategic tool which allows the company to achieve its aim for and goals within a given period of time, business programs are thought to be attainable if implemented appropriately and by likely to reach the focuses on. The business plan compromises the plan on how to achieve the goals and focuses on including the management team, the usefulness of the business enterprise plan are that it includes the financial programs indicating the profit percentage for each time respectively. In addition, it shows the rest even research.
The business plan includes the marketing plan, this allows how our restaurant will be useful to the population surrounding the shop
The financial plan section is the most important part of the business plan which shows how the ideas are practical and it is a key component in determining wither the business enterprise plan is likely to be able to entice any investment in the look of the restaurant. The financial plan section compromises of financial claims which are split into the income statement, the cash move projection and an equilibrium sheet including a brief explanation and research of each assertion, therefore, the financial plan courses the growth and development of the restaurant.
When starting a opportunity, seeking additional capital for the restaurant and setting new business process incase of the restaurant does not run, we need to write a plan detailing on how we will mange the resources and requirements which also includes the marketing decisions, the financial projections, a craze of the production demands and also personal needs. The plan reflects on three main constituencies that is the customer, the investor and the company. An enterprise plan must be presentable to convince the opportunity capitalist, that ought to consists of a number of related conditions that relate with the factors including the critical success of the coffee shop, the real human factor, the chance, the framework and the options of risk and reward, by studying these issues a business plan illustrates how the enterprise will seize the opportunity to enter the marketplace and how its stand out amongst its rivals and exactly how it plans to keep a continuing growth trend. The investor or the person who be enthusiastic about captivating the caffeine ship should start to see the level of details before making any financial decision to the new restaurant.
For a business plan to be successful and profitable we clearly need to comprehend the firm's customers and strength and completion on the market, it is the owners and shareholders who've to understand the behaviours of the clients and the durability and weaknesses. We should also have the capability to foresight and plan the continuing future of Hakuna Matata RESTAURANT and its own future enlargement strategies. With regards to the extension of the restaurant we need to know the financial plan that will permit us to how the coffee shop keeps growing.
In order to operate the restaurant more effectively we must manage the bargaining ability of the suppliers and to manage the charges and also customer complains, as we have to take this matter into consideration in a quiet manner and not to chase away the consumers. We must show the consumers that we not only serve the best caffeine but also our services are to a higher standard of customer expectation.
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