Sample Report On A Small Local Business
Business Planning is one of the most important aspects that associated with an individual. Apart from the financial capital, an individual also required to have human capital to maintain the procedure of their business (Berry, p.67). The main objective of this paper is to open a coffee shop in the New York region, the United States. It is a Limited Liability small Company, which is in the business since one year. The name of the Coffee Shop is “La Coffeeto”. Both internal and external factors that will influence over the business will be taken into consideration to complete the procedure in an effective manner.
La Coffeeto is a newly established Limited Liability partnership Company (LLC) which is wishing to enter in the area of New York region, the United States (US). The main products of the company include is Coffee and Strong tea along with Cup Cakes to their customers. There are two partners who have started this business with the names John and Stella. Both of these individuals have Business related qualifications and sufficient experience in managing a business. The company is new in the business, therefore it requires some time to them to physically compete the other coffee shops operating in this area. The coffee shop is strategizing to provide quality coffee and tea with high quality cup cakes to their customers throughout the day that will refresh their mind. The location of the business is perfect as it locates near to a Shopping Center wherein the amount of people come for the shopping purpose has been increasing year on year (YOY).
Stakeholders or shareholders are the actual owners of an organization, as they have the highest recognition in the market (Covello and Hazelgren, p.45). La Coffeeto also has number of stakeholders which are the most important personnel for them.
Employees: La Coffeeto is a new company, and in the initial year of its operation, the company will have four to five employees within the company, apart from the two individuals which are the owners. Employees are referred as the Human Capital, and we will take care of our employees in a best possible manner to maintain their significance and lift up the level of satisfaction very high with lots of intrinsic and extrinsic rewards.
Suppliers: Suppliers are very important for a coffee shop because they will provide the raw material like coffee beans, milk and water which are prerequisite elements to make wonderful, refreshing and powerful coffee. La Coffeeto will take good care of their suppliers in a best possible manner by satisfying their needs.
Customers: Customers are the external stakeholders for a business, and they are the end users of a business. The end customers of La Coffeeto are the people who want to have coffee or tea at any time of the day. There is no restriction on the age of the customers as any person who wants to have our services they can have without any pressure of external influence on them. La Coffeeto has a detailed idea about their customers, and they want to maximize their utility to increase the level of consumption of their product.
There are number of tools and techniques that can be used for the purpose of analyzing the external factors accordingly. One of the best methods is PESTLE Analysis. The acronym of PESTLE analysis is Political, Economical, Social, Technological, Legal and Environmental. The PESTLE analysis will be based on the country which will be the United States.
The United States of America (USA) which commonly known as the United States is a federal republic comprises on 50 different states. It is a politically effective and sound country of the world in which the stance of doing business is very effective and powerful (McKeever, p.90). Political stability within the country is very stable and powerful, which is one of the most important aspects for La Coffeeto. It is essential for the company to comply with the political behavior of the country to stay competitive and effective for a long span of time.
The United States of America (USA) is a developed country and has the largest national economy in town that benefits with abundance of natural resources and high work productivity. The country generated Gross Domestic Product (GDP) amounted to US$ 16.72 trillion in the financial year 2013 with per capital income of $ 53,042 with high health and development Index (HDI). It is a perfect sign for the country to maintain their significance in the market. La Coffeeto will get appreciation with this aspect as the level of consumption and buying power of the individuals are very high within the region.
The United States of America is a multi Ethnic country of the world which has different nationalities and religions in it. Therefore, it is more than essential for any company which is wishing to operate in this region to take care of the religious background and authority of every religion it has. La Coffeeto is a coffee based company, and it has nothing to deal with the religious issues and matter of the people, thus the company should not get worry about their operation in the area of New York, the United States.
In terms of technology, the United States of America (USA) is the developed country of the world in which both the companies as well as the individuals are having a perfect and technological life. La Coffeeto is not a technological company, and they doesn’t required any sort of high technological efficiency within their operations and functionality, therefore high technological factor of the USA will not affect over the working of the company.
Environmental factor is one of the most important factors that associated with the long run productivity and level of efficacy of an organization, and it is equally valuable for the small business operations. La Coffeeto will certainly enjoy their working in the region of the United States because the company has a great recognition in the market.
In terms of legal obligations, the United States of America is a strict country that requires all the companies operating in the region to effectively comply with the standards and rules which are essential to maintain their operations within the market with a positive set of mind. La Coffeeto has to have a positive frame of mind as far as complying with the legal obligatory of the United States to stay in the business for a certain time period. The legal aspects are very strict within the country particularly.
The United States is a major country as far as having financial capital is concerned. There are numerous companies which are currently operating in the region in order to get things in their favor, which increased the level of competition for La Coffeeto. The company is expected to give quality customers services and products to the end users in order to give a real tough time to their competitors while operating in the country.
Target Market: Coffee and tea is a product that found every person very attractive and tasty, and that is the main thing we haven’t made any specific market to tackle. The main focus of La Coffeeto is on the young generation; however there is no specific target market on which the company will emphasize.
Management Style: At La Coffeeto, we have an idea that management style is very important for the sake of an organization as far as achieving the effectiveness is concerned. The management style which the company is intending to have in their operations is transformational in which the leaders value their employees accordingly.
Employee Recruitment: The recruitment of the employees in La Coffeeto will be on the merit, and it will include effectiveness in their functionality as well. The employees of the company are very attractive and effective and maintain their effectiveness with positivity.
Establishing a business is not a piece of cake, as it requires lots of commitments and positive mindset for the implementation. After complying with the initial instructions of this paper, it is found that it will certainly help me out to maintain its significance accordingly. The internal and external factors of the company is showing that the tendency and ability of the company to enhance their productivity is highly powerful and effective, and it will certainly exchange positivity in their operating nature.
Berry, Timothy. Sales And Market Forecasting For Entrepreneurs. New York: Business Expert Press, 2010. Print.
Covello, Joseph A, and Brian J Hazelgren. The Complete Book Of Business Plans. Naperville, Ill.: Sourcebooks Trade, 1994. Print.
McKeever, Mike P. How To Write A Business Plan. Berkeley, CA: Nolo, 2012. Print.