- Pages: 5
- Word count: 1046
- Category: Business
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ImmortaliTE A Shop
1.1 Business Name
The business name will be known as “ImmortaliTEA Shop”. The business name is the result of the combined words of immortality and tea. While it is true that one cannot live forever, it cannot also be denied that one can live longer especially when a person is on a wellness discipline or lifestyle.
1.2 Business Background
ImmortaliTEA is a tea shop that will offer freshly-brewed tea mixed into a variety of delicious and refreshing blends, milk tea being the most popular. ImmortaliTEA Shop will be based on the belief that commodities, such as tea, are more productive and marketable products. For this reason, it will provide quality wellness products to the market especially in the business district of the Fort, Taguig area. Likewise, ImmortaliTEA Shop will lower companies’ health care expenditures, while raising worker productivity.
Health care expenditures will decrease due to reduced medical insurance premiums, reduced absenteeism, reduced turnover rates, reduced worker’s compensation claims, reduced tardiness, shorter hospital stays et cetera. ImmortaliTEA shop is a health service that will help businesses and individual workers attain one of the greatest gifts of all which is good health.
1.3 Objective of Business
* to provide a wellness place for the community the Fort who are tea lovers
* to provide a place where great conversations of valued customers happen and create memories of great times.
* to provide wellness strategies/programs to businesses in the Fort area.
* to create working relationships with 20 companies by the end of year one.
* to expand the ImmortaliTEA Shop, in the neighbouring cities of Taguig by the end of year two.
1.4 Marketing Strategies
ImmortaliTEA Shop will begin by targeting potential customers of the working class, residents and tourists in The Fort, Taguig. Small- to medium-sized businesses in the area will also be considered. The first task is to convince the residents of The Fort especially those living in condominium units to try ImmortaliTEA Shop explaining them the benefits and needs of a healthy and relaxed body. This will be accomplished by aggressively pursuing an information drive and interaction with the said residents.
As indicated above, business professionals and tourists will also be included. Once a strong image is established, ImmortaliTEA Shop will use similar strategies to market its services to larger corporations in Taguig and hopefully its neighbouring cities and other areas of expansion. It is a common trend now that participants in the fitness industry that include the national, regional, and local organizations encourage their customers to try tea and other supplements in support of their fitness program. Companies such as Fitness First, Gold’s Gym and other exercise facilities and training programs is on the list. ImmortaliTEA Shop’s strategy is based on raising worker productivity and lowering overall costs for businesses.
The most logical way to approach these factors is through a healthy work force. Companies that implement wellness programs with ImmortaliTEA Shop will be encouraged to look at the “big picture” regarding the effects of its wellness programs. Thus, one marketing goal is to persuade more traditionally managed companies that wellness can work for them. Following initial promotional activity through advertisements in newspapers, magazines, and on television and radio, ImmortaliTEA Shop will significantly reduce its promotional efforts in the hope that word-of-mouth will attract potential clients. Promotional activity will still be utilized through these media outlets, but only minimally.
1.5 Organization Structure
ImmortaliTEA shop is currently a small organization that will be headed by three individuals. The Owner/CEO/Director/ of Sales and Marketing oversees the activities of the Director of Health and Wellness Programs and the Director of Finance and Administration.
The Director of Health and Wellness Programs is the contact for and supervisor of the tea products specialists and health educators and promoters. The Director of Finance and Administration provides guidance for shop attendants and other employees. As the shop grows and expands, more director positions will be added as needed. There are currently two divisions of ImmortaliTEA: “Health and Wellness” and “Finance and Administration.” With the growth of the company, more divisions will be created as the demand for the business increases.
1.6 Projected Income
Prices for buying and availing ImmortaliTEA Shop’s products and services are comparable to those of higher-end tea shops in the business district of Makati, Greenbelt and other shops around Manila. It is very essential to know the demand of our products in order to answer our customer needs and wants. Knowing the demand will help us to determine the trend for our products. Analyzing the demand thoroughly will give the projection of the total number of quantity of each product that we are going to produce daily, weekly, monthly and annually. It increases annually based on the annual growth of population of Taguig City by 2.94% and based on the percentage of every products on the survey, we distributed the annual past demand to get the past demand for every products.
We recommend the business plan to be developed in a simple and understanding for a non-specialist form without using narrowly specialized terms. It has to be consistent enough to embrace all major parts of the project, and at the same time it has to be relatively short to keep up the investors’ interest. For visual effects, we recommend graphs and diagrams. For the investor to get interested, the business plan has to provide proof that the planned data will be achieved.
Business plan has to be done correctly, accurately and in a simple form for reading for the impression not to turn against the proposal. As pointed in this proposal ImmortaliTEA is a tea shop that helps businesses and individual persons attain one of the greatest gifts of all and that is of good health. We recommend the implementation of this business proposal by reason of market demands in the proposed area of Taguig. The chance of obtaining an ROI or return of investment is very high considering the capacity to avail the products of the shop of its prospective customers.
[ 2 ]. Projected population around The Fort, Taguig
[ 3 ]. Projected product sales of ImmortaliTEA Shop