Document Bu sin es s P la n Pr o Sa m pl e Acme Consulting — Sample Plan This sample business plan was created using Business Plan Pro® — business planning software published by Palo Alto Software....

The University of Queensland
1
Management
Management
Individual Business Plan
Individual
Lecturer:
Student Submitting:
Due Date: 18/05/2020
Table of contents:
a. Executive summary……………………………………………………………3
1.1. Objectives
1.2. Mission.
1.3. Keys to success.
b. Company overview…………………………………………………………….5
1.1 Company ownership
1.2 Start-up summary.
1.3 Company location and Facilities
c. Market Analysis………………………………………………………………...9
1.1. Market segmentation
1.2. Target Market segment strategy
1.3. Service business analysis.
d. Strategy and implementation……………………………………………….11
1.1. Market Strategy.
1.2. Sales strategy (sales forecast & daily revenue forecast).
e. Management summary…………………………………………………………14
1.1. Management team.
1.2. Personnel plan.
f. Financial plan……………………………………………………………………15
1.1 Breakeven Analysis.
1.2 Projected profit and loss.
1.3 Projected cash flow.
1.4 Projected Balance sheet.
g. References………………………………………………………………………..18
a. Executive summary.
World is Changing, most of the business managers are investing more fund for implementing innovative ideas and plans. As per the report of Business Insider (2016) introduction of virtual reality provides various options for the entrepreneur to come with the innovative practices and products. VR (Virtual Reality) Coffee Bar provides new experience for the customers, to play the virtual reality games and have delicious food. Our goal is to create new world of gaming for the people and enjoy their leisure time by having coffee and different Snacks. We know the fact that industry competition come in different forms and we have to be different from others. VR Coffee Bar or VRC mainly targeting people who comes under the age of 10 to 40. As per the reports of Forbes (2019) most of the youngsters and teenagers are spending more time for playing online games (Khot et al 2018). VRC provides different experience to the customers, they can enjoy two aspects, they play VR games and at the same time they can have to snacks and other related items.
VRC expect the customers have more fun and entertainment and they can come with their friends and we are providing special offers for the couples and friends gang. VRC mainly give more importance for satisfying the needs of the customers.
1.1 Objectives
The main objectives VR Coffee Bar includes;
· Keeping the employee labor cost between 15% - 17% of revenue
· Averaging the sales of business between 1million dollar per year
· Implementing tight control and measures for reducing cost related with internal activities.
· To expand operations to Asian countries by the end of 2021
1.2 Mission.
VR Coffee Bar wants to provide exceptional services to the customers and the main focus of the company is to provide better VR gaming platform for customers and also provide quality foods and beverages. Our goal is to provide value added services to the customers, are creating a friendly atmosphere for the customers. Varieties of food, VR games, ambience and supportive staff helps the customers for getting better service and VRC wants to treat the customers as fun lover who spent time for playing games and enjoying with their friends
We also consider employees as the valuable asset of the organization, the company is providing opportunities to the employees to participate in the decision making process. If the employee is happy and satisfied it helps for getting quality outcome and it also helps for satisfying the needs of the customers. Initial focus of the company is to develop and expand the operations in UAE major cities and towns and later the company wants to enter to other markets.
1.3 Keys to success.
· Providing exceptional services that meets the needs of the customers
· Providing innovative gaming atmospheres and the food quality
· Making the changes to the VR games based on the needs of the customers (Customization
· Understanding the needs of the employees and providing skill oriented training and practices
· Maintaining strict control over the internal and external activities of the organization
· Investing fund for research and development
b. Company overview.
People in UAE likes to spent more time for playing online games, time to time their interest and preference are changing. VR Coffee Bar is a new company that provides the customers to play VR games and the VRC also serve coffee and snacks. The company expertize in the technology and marketing and customer services.
The Key Elements of the VR Coffee Bar Concept are as Follows;
1. Distinctive Design Features – VRC designed in the store by using different attractive materials. At a time, 400 customers can enjoy the services offered by the company. They are three counters for customer for entering in to VR games. First counter is for premium customers, the payment for the first counter is high compared to other counters. Other two counters second and third there is only slight difference in the prices. Just opposite to the three counters VRC arranged the coffee shop.
2. Quality Food – VRC also giving more importance for maintaining the quality of the food. They are only using natural ingredients for making the food and other beverages. Simple menu offering variety dishes and items, the company also arranged a board in front of the coffee bar where they can provide the feedback about the food and services provided by the company
3. Exceptional Services – The company is also giving more importance to quality services to the customers. The company know the fact that if one customer is dissatisfied with the services provided by the company, it will directly affect the reputation of the company and creates different problems. For improving the satisfaction level of the customers, the company is also providing the option for the customers for suggesting ways and methods they can use for improving the quality of the services.
4. Friendly Employees – Employees are very supportive and they are ready to help the customers for meeting their requirements and needs. Employees act as a friend for the customers and they also participate in the VR games. In every Sunday our employees also spent time for dancing with the customers and they also allow the customers for making the food and coffee
1.1 Company ownership
Virtual Reality Coffee Bar or VRC held as a privately held partnership firm, the Mr. John and Mr. Hilan are the two partners and they are sharing profits and losses equally. The invested equal amount as capital for starting the organization, they also approached financial institution in UAE for getting seed capital. Mr. John completed Master in Mobile Gaming from Full Sail University Florida and he has held as creative game head for different private companies in US and Mr. Hilan MBA degree, Marketing and he held as a marketing and sales manager position in different private companies UAE. Both are very enthusiastic and it was there dream to open and start a business by their own.
1.2 Start-up summary.
The VRC start-up summary covers different items and the company has to identify the fund from external sources for starting the operations; The company required funds for the following aspects;
Game Floor Design – This is the major expense for the company, the company have three counters and in each counter the company has to use different design and technology (Sra et al 2018).
Coffee Shop Plans – The company plans to place coffee bar just opposite to the...