Salad Bar Financial Plan And Objectives Marketing Essay

Salad Bar Financial Plan And Objectives Marketing EssayThe salad bar financial mould will be based on the business concept of managing for the best, and blueprintning for the worst. The projections of the first year will anticipate for a sales volume down the stairs average, salad cost above average, and seat turn below average. This will help us ensure adequate financial planning to cater for a ramp-up distributor point that is commonsensical, success of the business, and ensure that the business is not under-capitalized (McKeever 2008).Financial Pro FormaBesides the $70,000 of owner investment and $90,000 grant monies, The Salad Bar is seeking $150,000 in loans that are long-term and $100,000 in renovation investments, kitchen equipment, furniture catering license, legal fees, working capital, , food restaurant supplies, personnel and marketing.Investment OpportunitiesThe Salad Bar Investment Program assigns equity localise of 30% for a $100,000 total in investor capital.In vestment OpportunityTotal Investor Grant Opportunity$100,000Minimum Amount of Investment$5,000Investment Term2-4 geezerhoodMaximum Total Equity Offering10%Starting Year 2Silver Projected Annual IRR on Investment of $15,000 $49,00010% lucky Projected Annual IRR on Investment of $50,000 $99,00011%Platinum Projected Annual IRR on Investment of $100,000 or more12% + ResidualsOur financial plan is based on the assumptions that there will be a slow-growth economy that will be recovering from an economic decline. It also assumes that the business will nonplus a modest growth in the future. The Salad Bar business intends to increase profit margins per day. The businesses aims at reducing the variable operation cost as advantageously as achieve a double growth rate annually.The Salad Bar marketing scheme will be aimed at developing visibility among the members of the community. This strategy will be achieved through a targeted ad campaign. There will be advertisements placed in variou s newsletters. Its hoped that the advertisements will yield a reasonable amount of point of intersection enquiries since they are beleaguered toward the target community that uses Salad Bar products/services (Young 2007).The Salad Bar Marketing ObjectivesSalad Bar aims at reducing market costs as a sales percentage. The business intends to maintain steady and positive growth every month. In addition, Salad Bar plans to experience new customers increase and consequently drop them as long-term customers.Marketing StrategyThe Salad Bar marketing strategy will be aimed at developing visibility among the members of the community. This strategy will be achieved through a targeted advertising campaign. There will be advertisements placed in various newsletters. Its hoped that the advertisements will yield a reasonable amount of product enquiries since they are beleaguered toward the target population that uses Salad Bar products/services (Abrams Kleiner 2003).Target marketingThe Salad Bars target population includes the middle class clients and the upper-class clients. The middle-class population has minimal disposable income. It recognizes that its expensive to get salad from a salad bar but its prepared to incur expenses though they will attempt to minimize them. On the opposite hand, the upper-class clients are characterized by high income level and its willing to have salad from a bar. This strategy will require a different menu for the both groups since the upper-class salad menu will be cost prohibitive for the middle class population (McKeever 2008).PositioningThe Salad Bar will position itself as a high quality, innovative salad business. The members of the society will recognize the high quality and unique service/product offerings of The Salad Bar. The Salad Bar competitive edge will be founded inits customer inventive and customer approach to members of the society. The Salad Bar customer attention will make it different from other salad bars that h ave a lot of demand. The disadvantage of having a high demand is that the business experiences a decreased pressure to accommodate extra clients. When The Salad Bar will start having mass of customers, we will modify our business plan in order to handle them effectively McKeever (2008). The Salad Bar will approach the market as if there is considerable competition between the different product providers. We aim at making customer satisfaction our priority, and through this, local clients will come to be lucky about the attention given to their need and establish long-term relationships with The Salad Bar. The main objective is to position The Salad Bar as the premier Salad business within the area, authorizing a market share majority in four years. The marketing strategy will aim first at creating customer awareness concerning its products, build up a customer base, and focus on building customer referrals and loyalty (Young 2007)Marketing MixThe Salad Bar marketing mix will cons ist of pricing, distribution, advertising and promotion approaches. The pricing scheme of the business is based on per person or per bowl charge. The Salad Bar aims at making product deliveries for customer furthest from the shop. On the other Hand, advertising and promotion will be done through television and radio adverts as well as brochures (Young 2007).Marketing look forSeveral focus groups were established and held during the initial marketing plan development phase so as to gain insight into a number of potential customers. The groups provided useful insight into potential customers decision making. Additional dynamic market research source is a feedback system based on a suggestion card system. The proposal card will have numerous statements that clients are asked to rate as per a given scale. There will be numerous open ended questions that will enable a client to offer constructive criticism freely. The Salad Bar will focus on implementing suggestions that are reasonab le so as to improve its product offerings as well as demonstrate its commitment to customer suggestions (Abrams Kleiner 2003).