The business plan for Eat, Sip and Read a medium sized coffee shop Coursework

The business plan for Eat, Sip and Read a medium sized coffee shop - Coursework Example Gaining fair amount of profit for the organization is also a primary mission so that the owners are also satisfied. Another mission of Eat, Sip, and Read is to provide a workplace for the employers where they will be kept on motivating to perform their best and will be rewarded based on their performance. Objectives: The objectives of Eat, Sip, and Read are to become a popular brand name among its customer which will comprise of a large section of the youths. A considerable amount of sales is targeted in the first year near about $ 500 k and to increase the margin of the profit in the second year. The long term objective of the organization should also include the expansion of the units in different states of the United States of America and based on the response should also consider the idea of international expansion. A3.Key to Success: The quality of service which will be delivered to the customer will be one of the primary factors for the success of the organization. The organiza tion will have to be critical in the choice of the food in the menu. As the facility of reading is one of the prime attractions for the shops the choice of books in the store will also be critical for attracting the customers in the store. The marketing strategy of the business and the ability to adopt the change and to undertake transformation in the areas required will also be crucial in the success of the organization. The efficiency of the management in choice over the policies and their nature of implementation hold the key regarding the future of Eat, Sip and Read. B. Company Summary: B1. Industry History: The fast food industry is one of the rising businesses in the... From the research it can be comprehended that the fast food industry is one of the rising businesses in the United States of America. According to a report , the consumers in USA spends about $110 billion on the fast foods in the year 2000 which depicts the huge amount of success which the industry has encountered. In the year 2005, the sales increased by more than 5% of the previous year. The likeliness of the fast food by the majority of the population based in USA has been identified by the market players and has been considerable in the overall success of the industry. The success of the industry also lies in the fact that it has provided huge openings for employment throughout the country. The figures published by the U. S. Bureau of Labor Statistics reflect that nearly 2.7 million workers are employed in this sector of the economy. The industry also has provided average growth to the employees over the years and it provides excellent opportunity to the population in matters of employment. Across the country there are more than 200, 000 fast food restaurants and generates sales of more than $120 billion. The industry also suffered a difficult period since the year 2006, as the food and the energy price increased significantly all over the country. The economic downturn also brought a change in the overall pattern of sales in the country as the consumers were left with little amount of money to spend on the restaurants and the fast food.