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Business Plan Final

Tenasia Ingram

Strayer University

BUS 599: Strategic Management

Professor Dr. Andrea Banto

September 12, 2022

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Company Description and SWOT Analysis

Nay’s Exotic Drinks & Sweets: Frozen slushies, Chocolate Covered Strawberries,

Chocolate Covered Pineapples, Flavored Popcorn, and Flavored Candy Apples

Nay’s Exotic Drinks & Sweets is a business whose operations specialize in the Food

Service industry. Based out of Burlington, Nay’s Exotic Drinks & Sweets intends to provide

superior quality product line, reliable service, and friendly atmosphere. Nay’s Exotic Drinks &

Sweets product line holds leverage over its competition because it provides superior quality

product line, reliable service, and friendly atmosphere. Nay’s Exotic Drinks & Sweets main

product line consists of frozen slushies, chocolate covered strawberries, chocolate covered

pineapples, flavored popcorn, and flavored candy apples. Nay’s Exotic Drinks & Sweets will

attract clients and is set apart from its competitors because they will meet the requirements of

their demanding clientele. The success of the business is validated and ensured by the skilled

and committed staff comprised with combined years of experience in the industry.

The company name is so unique because it’s the owner’s nick name and summarizing

what kind of products that will be available for purchase. Significance of the company name is

to capture market share in the Food Service industry by offering competitively priced goods and

services, quality product line, building a strong and skilled personnel team that will solidify our

foundation, sustain the growth of the company and to progressively increase annual sales.

Mission Statement

“To provide our customers with the most delectable and economical drinks and sweets,

Nay's Exotic Drinks & Sweets uses our wheel's delivery service to achieve excellence in the food

service industry”. The company's mission is to create the most refined and indulgent drinks and
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sweets for its clients at affordable prices through its wheel delivery service. This mission

statement was selected because it demonstrates Nay's commitment to providing quality products

and services to its customers (1). It also shows that the company is willing to invest in innovative

delivery methods, such as its wheel delivery service, to make its products more accessible to

potential client.

Trends in the industry

Nay's Exotic Drinks & Sweets is a food service drinks business. The company has seen a

market trend toward healthier alternatives and wants to provide customers with healthier options.

The company is also trying to reduce its environmental impact. Nay's Exotic Drinks & Sweets is

expanding its health-conscious and sustainable offerings. In five years, the industry should rise

by 20%. Increased health consciousness and demand for sustainable goods and services drive

this expansion. The initiative will be $30 billion by 2025 (1). Strayer Online Library and industry

groups have provided promising data about Nay's Exotic Drinks & Sweets. All three sources

give crucial corporate information to investors.

Strategic position

Nay's Exotic Drinks & Sweets might become a niche internet player for premium

specialty drinks. This would require building a distinct product offering and an incredible client

experience. This might work for Nay's Exotic Drinks & Sweets for various reasons. First, by

specializing, the firm may better compete against more significant, more established rivals (1).

Second, by providing a distinctive product offering, the firm may generate consumer loyalty and

separate itself from competitors.

Third, by concentrating on the client experience, the firm may become a premium

supplier of specialty beverages. Customers may be willing to pay more for the company's items.
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Fourth, focusing on fewer clients would reduce marketing and advertising expenditures (2). This

technique would help the organization reduce inventory and supply chain expenditures.

Distribution

Nay's Exotic Drinks & Sweets company should use restaurant and grocery store

distribution channels. The company plans to make its products available in restaurants because

this is where most people are likely to consume them. Grocery stores will also be a good option

because they provide a convenient way for people to purchase the products. The company has to

choose these two distribution channels because it is believed that they will reach the most people

possible (2). They are also confident that both types of businesses will receive their products

well.

SWOT Analysis
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Strengths Weaknesses

1. A focus on customer service 1. Competition with larger companies

2. A unique product offering 2. Inadequate product varieties
3. Years of experience in the food 3. Unnecessary marketing strategy
service industry 4. Lack of competent suppliers
4. Commitment to quality while
offering products

Opportunities Threats

1. Increase sales to current 1. Economic Downturns

customers 2. Competition from other
2. Expand product line companies
3. Enter new markets 3. Changes in customer taste or
4. Increase marketing efforts preferences
4. Higher prices for ingredients
used in Nay’s product

Nay's Exotic Drinks & Sweets may leverage customer service and distinctive products to

combat economic downturns and competition. Nay's may boost revenue by emphasizing

customer service. Nay's may separate itself from the competition by delivering specific items.

Businesses must decrease expenses to survive in today's market. Customer service may help

Nay's Exotic Drinks & Sweets save costs. Nay's can avoid discounts and marketing by satisfying

clients. Satisfied customers are more likely to return, which may boost revenue even in poor

circumstances. Unique items may help Nay's Exotic Drinks & Sweets combat economic

downturns and competition. Nay's can create a devoted client base by offering unique items.
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Individual items may help Nay's Exotic Drinks & Sweets stand out from its competition, which

is particularly crucial during economic downturns.

The company's plan to minimize weaknesses is to improve its competitiveness by

introducing new products and expanding its product range (2). The company can also plan to

invest in marketing and advertising to increase its brand awareness.

Marketing Plan and Sales Strategy

Target Market.

Nay's Exotic beverages & sweets company has been proposed, and it will deal with

frozen slushies, chocolate-covered apples, chocolate-covered strawberries, and popcorn with

different flavors. The thirst quenchers shall be made from fresh fruits mixed with various tastes

and ingredients, ensuring standard beverages and desserts that are wholesome, tasty, and

nutritious. The food production business will provide flavors of beverages and treats with

distinctive characteristics and components, such as flavored popcorn, flavored candy apples,

chocolate-covered strawberries, chocolate-covered pineapples, and frozen slushies. The market

radius shall be within 100 kilometers of the company's site in Burlington. The span will enable

the business to function cost-effectively while avoiding complications from sales in distant

regions. Due to financial limitations brought on by being a young company, The Nay's Exotic

beverages and sweets might not have the capacity to expand its market outside of Burlington.

The business will provide its clients with delectable beverages and treats to draw in and keep a

loyal clientele.

Demographic Description
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The target market will include people of all sexes and ages 18 to 34. The age group

includes people who enjoy snacking and have varying desires for these varied drinks and

toppings (3).

Geographic Description

The company Nay's Exotic Drinks & Sweets wants to restrict its sales to North Carolina,

especially a 100-mile area around Burlington. Burlington’s location is advantageous because it is

home to several supermarkets and retail centers that draw thousands of shoppers daily. The

business will need to set up shops in these upscale areas to maximize sales. About 40% of the US

population can reach the area, making it possible for the corporation to expand to additional

states inside and outside the US in the future (4).

Lifestyle Description

Since the product would be risk-free and healthful for everyone to consume, the firm will

strongly emphasize individuals from all walks of life, encouraging delightful and enjoyable

eating.

Psychographic Description

Since the product would be risk-free and healthful for everyone to consume, the firm will

strongly emphasize individuals from all walks of life, encouraging delightful and enjoyable

eating. The speed of the business will be defined by the customers' consumption of the well-

prepared snacks and sweets and their recommendations of the product to others.

Purchasing Pattern Description

Customers in Burlington will use the product for recreational and health reasons, setting

the pace for the city and encouraging frequent purchases of it two to three times a week (5).

Buying Sensitivities Description

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The business will ensure that the goods are reasonably priced, up to par in terms of

quality, attractively wrapped, and delivered by knowledgeable, amiable personnel. These steps

will improve consumer reputation, boost sales, and encourage development inside and outside

Burlington NC.

Market Competition

The business may focus on developing a greater competitive edge in the market than

other beverage and confectionery manufacturers. The business may open locations outside well-

known shopping centers, gas stations, or athletic venues in Burlington, NC suggesting that the

items are nutritious and healthful when ingested (6). In contrast to other businesses, whose

sweets production is done in confined sectors, the corporation may consider preparing and

packaging the sweets inside the customer's exposure (4). Customers will be more likely to stay

loyal to the brand since they will know what components are in their candies. The business will

establish customer-friendly delivery mechanisms that connect internet services with in-

store transactions. Combining the two tactics will guarantee that clients receive the drinks in a

timely and acceptable manner, thus increasing their faith in the brand (6). As consumers

shopping in supermarkets may feel hungry and contemplate consuming the drink before eating

their meals, the company may also seek to work with well-established businesses like shopping

malls. Customers also trust these respected businesses; therefore, they have confidence in the

goods offered within their establishments (7). These steps might elevate the company's position

in the hierarchy of competitors, allowing it to grow, win widespread acclaim, and extend its

operational and marketing territories outside.

Value Proposition
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The company's marketing tagline will be "sweet sweets," As the name implies, the goods

made from local fruits are sweet, delicious, and incredibly enticing. The chosen tagline aims to

bring customers and the product together. Customers may attribute a higher perceived value to

the product by inferring from the proposition that the items are safe and enjoyable to use, which

might lead to more sales and, consequently, bigger profits for the corporation. The tagline also

draws in new clients interested in quelling their curiosity about the newest item on the market.

The corporation will be able to cater its processes to the tastes and preferences of the consumer

thanks to the phrase. The value proposition shall also help the business create the numerous

marketing avenues it will employ to expand its market until it reaches its goal of US $1 million

by the end of the first fiscal year.

Marketing Vehicles

Marketing Vehicles Table

Marketing Vehicle Frequency Cost/Month

2–3 times per week $300 per month

Social Media: Facebook and Instagram

Radio Station 1 time per week $4,000 per month

Free Samples 2 events $200 per month

T-shirt  4 Events  $1,600 per month

Car  4 Events  $300 per month

 Flyers  4 events  $20 per Month

Business Cards   4 events  $20 per month

Video marketing   1 time per week  $120 per month

The business will devote all the necessary resources to spreading the word about the new

product. Advertisements are crucial to the success of most businesses because they foster a
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positive relationship between potential customers and the marketing firm (8). To get out to

customers, the corporation may use radio station. Young people are the target market since they

frequently listening to the radio station and are more likely to be drawn to the items. The

corporation may use video marketing that displays its products to the public while adequately

informing the public about those items and the benefits of using them. The approach could be

effective because it gives the business easy access to potential customers outside and gives them

a realistic explanation of the advantages of utilizing the items. The target audience can sample

the new product directly at the pop-up shops, which encourages them to purchase the goods and

we will be having T-Shirts, flyers, and business cards at each event we do which will be 4 every

month

Another tactical strategy for gaining a market edge is sampling, in which the business

uses free samples to target consumers randomly. The strategy is sound because it allows

potential buyers to experience the items' authentic flavor and, as a result, suggest them to other

customers, which will significantly boost sales (8). The usage of social media would be

Facebook and Instagram to promote the items and different sales that goes on. As a result, the

company's goal may be realized through the effective use of various marketing channels. Also,

we will be traveling to each event in a company car that display the company name which allows

awareness to the community to.

Conclusion

Visionary business Nay's Exotic Drinks & Sweets Company hopes to establish roots in

Burlington, NC. The firm may successfully expand into a top Snack food company because the

location of the business is crucial, given that Burlington is a business in a small area. By

ensuring it retains a stronger competitive edge over other snack manufacturing firms, the
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company may be able to accomplish its goals. Because of the company's dedication to its

objective will reach its goal of $1 million during the first fiscal year. Companies must use

various marketing tools to quicken the dream to reach their objectives.

Business Plan

This business plan focuses on operations, technology, management, social corporate

responsibility, and financials. The components of the business plan will guide what the business

will be like, and each component will give much more detail for every element.

The business I will aim to set up is that of making frozen slushes, chocolate-covered

strawberries, chocolate-covered pineapples, flavored popcorn, and candy apples. The business

will operate in the food industry, as this is where I see opportunities that I can exploit. The name

of the company will be named will be Nay's Exotic Drinks and Sweets.

Operations

Facilities

The business will be in Burlington, NC. The company will operate in a small building

where the production of the products will be carried out. The space is enough to carry out

production with the few workers who will assist me in producing the food items. The space,

however, is enough to facilitate the production process and make the business a success.

The building will be rented under a lease agreement and will be paid monthly at the cost

of $3,000. However, this is only permanent, and we aim to have our building in the next few

months. In the meantime, this is where the production process will take place.

During the operations, costs will be incurred to be able to make the products that I aim to

create. These costs include electricity, water, cooking gas, and trash removal. The prices are as

follows: electricity will cost $250 per month, water will cost $80 per month, gas will cost $60
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per month, and trash removal will cost $100 per month. All the costs that will be incurred to

cater for utilities will amount to $500 monthly.

A senior worker will carry out all the operations, and I will be the director who will

oversee that all the processes will run effectively and as smoothly as possible. All these

operations will occur at the building, and any stakeholder can reach out to us at the facility.

Stakeholders, such as customers, suppliers, and workers, can find us at the premises in

Burlington, NC.

The business will be tasked with ensuring that its processes are run with integrity and

honesty. An example entails ensuring that the customers are served with integrity and trust. The

major aim for our business is to ensure that the business operations will be run with integrity and

trust to create loyalty among the stakeholders. It is also our aim that Nay's Exotic Drinks and

Sweets will be one of the best and most popular among consumers.

Production Process

I intend to ensure that the production process will run as smoothly as possible and that

there will be a shortage of the products once they have been put on the market for sale. It will be

made possible by the fact that there will be enough stock that is in the stores. I aim to ensure that

there will be enough stock to sustain the company's production process for a month. This will be

done by ensuring that the supplier relationship is good enough and that the lead time will be very

short.

For the finished products, I will ensure that the products that are made are enough and are

well packed and prepared for sale a day before orders are placed. They will be stored in the

freezers to ensure that they will remain safe for consumption. Our goal is to ensure that the

consumers will not lack any product they intend to purchase from our business.
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Also, our business will consider orders that have been requested by the customers and

will be processed and delivered to customers. These will be possible by ensuring enough

production of the orders. When the management feels that it is good to make more orders so that

the orders can be delivered, they will do so by ensuring that workers can work extra time to

ensure that the finished products are adequate. It will be possible by providing that there is

compensation for additional time worked.

Research and development

Research on the current market trends will be carried out to ensure that the company is

aware of the recent developments in the market and offers products that will fulfill the customers'

needs. Products currently in the market and are new fare such as chocolate-covered strawberries,

chocolate-covered pineapples, flavored popcorns, and flavored candy apples. Chocolate has

various varieties, such as brown and white, and has different toppings such as Oreos, Carmel,

nuts, etc.

Personnel resources

A total of 12 employees will be required. In this case, two employees will be in

management, two will operate in the administration department, and one will be responsible for

marketing. Additionally, four will be under the production department, one will help in the day's

operations, and two will assist in overtime.

Social Responsibility

Profit

Profits will be made when we make sales, and these profits will be ploughed back in

social responsibility activities. Profits will be made by the fact that it will be possible to sell

products for amounts that are higher than what we have incurred making the product.
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People

Our business will exercise care on our suppliers by giving them bags branded in our

company's name. For customers, they will be given a punch card that they can use to make

purchases on various transactions. Customers will receive free items as a means of promotion.

We shall also offer healthcare services to the employees by providing insurance that covers

dental and general health.

Planet

The business also aims to impact the world by ensuring that we do not dispose of garbage

in a manner that is not in accordance with the authorities. We also aim to be a company that

every other business can benchmark and follow in our production process.

Technology

Equipment

Nay's Exotic Drinks and Sweets will use state-of-the-art equipment to ensure that

production will run smoothly and efficiently and meet the demand as per the orders required by

the forces of demand. It will entail purchasing state-of-the-art ovens, freezers, mixers, packaging

machines, and state-of-the-art storage facilities.

Using state-of-the-art equipment has a lot of advantages, such as ensuring that there is

efficiency and effectiveness in the production activities and reducing the costs of production. For

example, using packaging machines to pack our products will make the process easier than

employing many workers and doing the same work, which would also attract a lot of wages and

salaries.

Marketing
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Our business will ensure that it will use technology in marketing our products. Since the

Internet is a potent tool, it will help us market our products and, in the end, facilitate us to

increase our sales volume. Marketing will be done on social platforms such as Facebook,

Twitter, and YouTube, among others. We also aim to use electronic media for marketing our

products to our potential customers.

Records

Our management records will be stored through computer technology, such as keeping

records in systems that will record the amount of stock in stores. We shall also use techniques to

record all our sales over a given period. The costs that are incurred will also be recorded in the

system. We aim to hire a competent accountant to oversee the posting of all the organization

transactions in the system.

Maintaining records in the system will ensure that there is accuracy in the data, such as

the available stock. This will improve the production processes because the required stock will

be known in advance, and if there are shortages of a particular raw material, it will be ordered.

Management and organization

The company will have various structures that will oversee its operations. I will be the

company's director though I will still offer my expertise in the production of sweets. Since I have

experience making flavored popcorn, I will vastly contribute to making them.

The management will comprise 12 employees, excluding me. Two employees will help

with the administrative duties, 2 for management purposes, one marketer, four in production, one

will oversee operations during the day, and two will be part-time workers. These employees will

help the start-up before the business grows into a large organization where we shall bring in

more employees.
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All communications will be conducted through the administration. For example, a

supplier who may be interested in supplying us with raw materials for making our products will

have to initiate talks with the administration department. The marketing department will be

highly involved in marketing our products to potential customers and will work to ensure that

they achieve their targets. This target will be set on the sales volume that should be made daily.

Also, the administration, through my guidance, will act as the executive. They will make

some corporate decisions such as where we can obtain finances, in case we need consultancy

services, and training of employees to improve the quality since I will be the head of making

such decisions in the company's best interest.

Business Plan Financials

The financials of the business plan are illustrated in the Excel document. The financials

show the sales of the business that will be expected in each period. The paper also presents the

company's financial position, assets, liabilities, and equity. The financials also show the

business's cash flows once the operations begin and illustrate how liquid the company will be at

a given time.

The gross profit for the year 2022 -2023 for sales obtained from frozen slushes will be

projected at $78,378, chocolate-covered strawberries will be projected at $50,902, chocolate-

covered pineapples will be projected at $91,835, flavored popcorn at $153,766, and flavored

candy pineapples at $274,667.

The inventory in store for 2022 - 2023 will be expected to be at $259,683 for frozen

slushes, $191,841 for chocolate-covered strawberries, $193,776 for chocolate-covered

pineapples, $418 for flavored popcorn, and $674 for flavored candy apples.
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Under the staff budget, the management has been projected to have total costs of

$10,690, the administration will have $10,386, sales will be at $5,248, operations will be at

$21,104, other costs will be at $25, and finally, the overtime will incur a total charge of $17,856.

Total receipts from the cash flow in the year 2022 - 2023 are projected to be at

$1,796,355, cash disbursements will be at $1,324,446, and the net cash flow will be $471,909.

The ending cash balance at the end of the year will be $486,909.

The total assets in the first quarter of 2022-2023 will be projected to stand at $265,711,

and the liabilities and equity will be at $233,366.

The monthly breakeven point in dollars in the first year will be projected at $35,813, year

2 at $36,222, year 3 quarterly average at $110,700 and year 4 quarterly average at $112,744.

Financing to Date and Funds you plan to Raise from investors: Total capital investments is

$125,000 from a gift that was $50,000 and a small business grant that was $75,000. $35,000 in

loans$30,000 came from family and friends and then $5,000 came from a small business loan

that the business will receive for 12 months with a 5% interest rate so altogether total

investments and loans is $160,000. The use of funds will be 2 computers it cost $600, 2 credit

card machine cost $630, Company car monthly payment cost $300. 3 blenders going to cost

$360, 3 crushers for toppings going to cost $75, and 3 melting pots going to cost $345, a fridge is

going to cost $3,000, a deep freezer going to cost $700. The software Restaurant365 cost $400.

Business phone cost $90 a month and rent will cost $3,000. Website design will be $1,000 with a

monthly maintenance fee of $29. Projected Profits total net sales will be $1,471,759.
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