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Management - A Business Plan

Extracts from this document...

Introduction

Basic Business Definition Name of business: Spa Coffee Location: 58 - Nguyen Khanh Toan Str. - Dong Da Dist. - Hanoi Type of business: Service Primary services: Foot Massage "Fish Spa" - Foot Massage Service using Doctor Fishes, accompany with drink serving. Customer needs that our business will serve: - A quiet place with fully natural decoration to relax after hard-working hours. - Enjoy a totally new-fangled foot massage service - Fish Spa which is not only good for health but also eliminate all stress. Customer groups that our business will serve: - Office workers - Old people - Young people - Households Competitive advantages: - A totally new-fangled foot massage service which has never existed in Hanoi. It attracts people's curiousness and this also means we have almost no competitors. - Doctor Fish is widely used and recognized all over the world as an efficient therapy to eliminate stress. This can attract office workers and old people to visit us. - Doctor fish can completely get rid of skin smear and aging cortex. They also can make your pore unobstructed to promote blood circulation. Moreover, they have the function of protecting skin and beautifying face to make your skin healthier and more brilliant. These could attract ladies to use our service. Short-term and Long-term goals: - 1-3 Years: . Keep business stable, step by step recapture initial capital. . Liquidate all the debts . Become one of the best point of arrival of customers - 5-10 Years: . Become a strong brand in both spa and coffee service. . Gain enough profits not only to survive but also to expand the business scale . Build a new larger spa caf´┐Ż in the centre of Hanoi Market Analysis Identify target market: [Potential customers] - Consumer in all occupations and age ranges Describe the people will account for most of our business: - Gender: Both Male & Female Age range: All ranges - Income range: All ranges Occupations: All occupations Geographic area our business will serve: Urban - with many large companies and crowed residential quarters nearby. ...read more.

Middle

162.99 172.87 172.87 155.58 70.72 56.576 1162.53 Coffee 18.5 24.6667 25.5172 18.7126 20.272 15.204 8.9842 9.2484 9.2484 12.612 17.198 23.451 203.614 Less: Cost of goods sold 11.285 15.0467 15.5655 11.4147 12.366 9.2745 5.4804 5.6415 5.6415 7.693 10.49 14.305 124.204 GROSS PROFIT 34.415 48.1533 50.7517 57.1646 66.839 161.51 166.5 176.48 176.48 160.5 77.427 65.722 1241.94 EXPENSES Advertising 11.5 3.1 3.1 3.1 5.4 6.2 5.4 5.2 2.4 2.4 2.2 0 50 Credit card service charges 0 0 0 0 0 0 0 0 0 0 0 0 0 Depreciation 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1 4.1 49.6 Insurance 0.58333 0.58333 0.58333 0.58333 0.5833 0.5833 0.5833 0.5833 0.5833 0.5833 0.5833 0.5833 7 Interest 4.58333 4.41081 4.23668 4.06095 3.884 3.705 3.524 3.342 3.158 2.973 2.786 2.597 43.2605 Maintenance and repair 0 1.2 2.2 3.2 2.3 1.4 5.4 6.1 6.5 6.1 5.1 1.2 40.7 Postage and suppliers 1.1 1.1 1.2 2.1 2.2 3.1 3.2 3.3 3.2 3.2 1.1 0.5 25.3 Professional services 0 0 0 0 0 0 0 0 0 0 0 0 0 Rent 28 28 28 28 28 28 28 28 28 28 28 28 336 Salary/wages: Employees 27.7 27.7 27.7 27.7 27.7 30.3 30.3 30.3 30.3 30.3 27.7 27.7 345.4 Taxes 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 18 Telephone 0.1 0.2 0.2 0.4 0.4 1.2 1.2 1.4 1.2 0.7 0.2 0.1 7.3 Travel and entertainment 1 1.1 1.2 1.2 1.2 1.1 0.5 0.5 0.5 0.5 1.1 1.2 11.1 Utilities 1.15 1.15 1.15 1.15 1.15 1.7 1.7 1.7 1.7 1.7 1.15 1.15 16.55 Other operating expenses 2.2 2.2 2.2 2.2 2.2 2.3 2.3 2.3 2.3 2.3 2.2 2.2 26.9 Total expenses 83.55 76.3775 77.4033 79.3276 80.65 85.221 87.741 88.359 85.475 84.39 77.753 70.864 977.11 PROFIT (or LOSS) BEFORE TAXES -49.135 -28.2241 -26.6516 -22.163 -13.811 76.292 78.756 88.119 91.003 76.113 -0.326 -5.142 264.831 Year2: Detail by month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total GROSS SALES spa 35.7 50.575 53.55 ...read more.

Conclusion

The target markets or the customer groups are middle class and prosperous class who can afford pay a large amount of money for cafe - spa. According to the real survey on Nguyen Khanh Toan street, there are 20 small cafes and most of them use pavement for doing business instead of building a cafe-spa with luxurious, natural cafe as our project. The advantage of this pavement cafe is that the coffee and other drinks are cheaper but the disadvantage is that the drinks do not look spectacular and there is no beautiful place for customers relaxing. So with the professional service and good investment in designing and decorating cafe, we strongly believe we can compete with other, both in prices and services. * Need to understand: * Anticipated opening date: January 1st * Method of accounting: cash * Depreciation method and schedule: Equipments/ years, 5 years: 248/5= 49.6 * Average inventory ( Year 1 and 2): 16 * Loan amount, term and interest rate: 180 ( no interest), 500 ( interest), interest rate : 22%. Sensitivity Analysis For the Worst case: * Lowest possible gross sales: Less than 5% * Highest possible cost of goods sold: 2% more * Highest possible expenses: 2% more For the Best case: * Highest possible gross sale: 5% more * Lowest possible cost of goods sold: 2% less * Lowest possible expenses: 2% less YEAR 1 PROJECTED INCOME STATEMENT Worst Case Probable Case Best Case Gross sales 1297.84 1366.144 1434.45 Less: Cost of Goods Sold -121.52 -124 -126.48 Gross profit 1176.52 1241.94 1307.97 Less: Expenses -957.57 -977.11 -996.65 Profit before taxes 218.95 264.831 311.32 Key Financial Ratios Start-Up End Year 1 End Year 2 End Year 3 Current ration 1.39 0.97 n/a n/a Quick ratio 1.29 0.81 n/a n/a Debt-to-equity ratio -2.64 -3.02 13.38 0 Gross profit margin n/a 91% 92% 94% Inventory Turnover n/a 3.55 3.47 4.26 Break-Even Analysis (million VND) End Year 1 End Year 2 End Year 3 Total annual expenses 977.11 930.076 936.282 Gross profit margin 91% 92% 94% Beark-even point 1073.75 1010.95 996.045 ?? ?? ?? ?? ...read more.

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