Executive Summary
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Libby's Cafe is a sole proprietorship located in New York City. At Libby's Cafe, we specialize in all of your cafe favorites and aim for superior customer service as well as provide cost effective products. Our primary strategy is to develop Libby's Cafe to be an aggressive competitor in our market, while continuing to expand our services and reach new customers.
New York City has a population of 8.4 million and our target market are people who want a quiet place in the sometimes chaotic city. We believe that our market is 2% of the community , and our business has a growth potential of 10-15% over the first year of opening.
Libby's Cafe has three components that will rank our business in the top three customer choice survey. These components are:
Management
Libby's Cafe has a CEO, Libby McKesson, and three other managers to assist in the development of our company. We have a Chief Financial Officer who will handle all of our fiscal needs, including payroll, taxes, inventory control, and managing our day to day operations. Secondly, we have a human resource manager who will handle all of our hiring, dismissals, training, benefits, and quality work life initiatives. Lastly, we have a director of sales and marketing who primary job function is to continue to increase sales through innovative marketing surveys and concepts.
Marketing
Libby's Cafe will use the following marketing strategies to enhance our sales while continuing to put our business in the top three customer choice surveys.
Quality Assurance and Financial Needs
Libby's Cafe will provide superior customer satisfaction while maintaining costs and keeping within the budget guidelines. We will constantly search for quality products that are priced low enough to where Libby's Cafe will make a substantial profit. Libby's Cafe will require $15,600 to start up our business. We have conducted that in order to run our business effectively, we will require $11,100 for overhead and marketing costs.
In conclusion, through effective management, aggressive marketing, and cost-effective measures, Libby's Cafe will undoubtedly be a top competitor in the greater New York City market.
New York City has a population of 8.4 million and our target market are people who want a quiet place in the sometimes chaotic city. We believe that our market is 2% of the community , and our business has a growth potential of 10-15% over the first year of opening.
Libby's Cafe has three components that will rank our business in the top three customer choice survey. These components are:
- Effective management and solid employee relationships.
- Aggressive marketing, with add on sales, coupons, and advertisements.
- Quality Products and Services for customers, while maintaining cost effective measures.
Management
Libby's Cafe has a CEO, Libby McKesson, and three other managers to assist in the development of our company. We have a Chief Financial Officer who will handle all of our fiscal needs, including payroll, taxes, inventory control, and managing our day to day operations. Secondly, we have a human resource manager who will handle all of our hiring, dismissals, training, benefits, and quality work life initiatives. Lastly, we have a director of sales and marketing who primary job function is to continue to increase sales through innovative marketing surveys and concepts.
Marketing
Libby's Cafe will use the following marketing strategies to enhance our sales while continuing to put our business in the top three customer choice surveys.
- Weekly advertisements offering discount coupons for specific services.
- Business to Business networking specifically, Rotary Club, Better Business Bureau, and other available networking groups on a local level.
- Offering special discounts if a customer recommends the business to another person.
Quality Assurance and Financial Needs
Libby's Cafe will provide superior customer satisfaction while maintaining costs and keeping within the budget guidelines. We will constantly search for quality products that are priced low enough to where Libby's Cafe will make a substantial profit. Libby's Cafe will require $15,600 to start up our business. We have conducted that in order to run our business effectively, we will require $11,100 for overhead and marketing costs.
In conclusion, through effective management, aggressive marketing, and cost-effective measures, Libby's Cafe will undoubtedly be a top competitor in the greater New York City market.