Genemod Shop is a company whose ideas of formation dates back to October 2010, when four undergraduate students taking accounting, horticulture, marketing and business management engaged in an entrepreneurial discussion. Scheduled to start its operations in May 2011, its main purpose is to provide quality and timely food to students the University of reading. It will provide Purple tomatoes, British blackcurrant berries, Tomato puree and some GM vegetables as the main GM food. The name Genemod was arrived at after considering many options one being the combination of Genetic and Modified to get Genemod hence the company name. On the market opportunity, with the current trend in food consumption, it has been realized that genetically modified food remains the best option both at home and commercial residents. Students in the university travel to the supermarkets to get food which should be availed near their halls of residents. The university has many halls of resident including student village, hillside court, Martindale court and Mackinder hall among others which represents a good market to be exploited.
The company seeks a capital of £10,000 for the start up. This will be raised from member’s contributions, loan from financial institution and venture capitalists’ contributions. Repayment of the loan will begin immediately within two months of its operations. The shop faces competition from two main suppliers who bring fruits and vegetables to the school compound on Mondays and Wednesdays. Some students go to the supermarkets to buy the food hence this constitutes another competitor.
Inhaltsverzeichnis (Table of Contents)
- 1.0 Executive summary
- 2.0 Current situation and market analysis
- 2.1 Industry analysis
- 2.2 SWOT analysis
- 3.0 Products
- 3.1 Product assortment
- 3.2 Product sourcing, buying and inventory management.
- 4.0 Organizational plan
- 4.1 Hours of business
- 4.2 Company ownership
- 4.3. Company location
- 4.4 Start up
- 5.0 Marketing approach
- 6.0 Operational plan and supply chain
- 6.1 Sales strategy
- 6.2 Market segmentation
- 7.0 Management plan
- 7.1 Ownership structure
- 7.2 Legal requirements
- 7.3 Personnel plan
- 8.0 Financial plan
- 8.1 Financial assumptions
- 8.2 Estimated budget for one year
- 8.3 Financial statements for the company
- 9.0 Growth plan investment
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This business plan outlines the strategy for establishing Genemod Shop, a company aiming to provide quality genetically modified food to students at the University of Reading. The plan focuses on the company's market analysis, product assortment, organizational structure, marketing approach, and financial projections.- Market Analysis and Competition
- Product Development and Sourcing
- Marketing Strategies and Customer Segmentation
- Financial Planning and Growth
- Corporate Social Responsibility
Zusammenfassung der Kapitel (Chapter Summaries)
- **Executive summary**: This section introduces Genemod Shop, its founding team, and its primary objective: to provide high-quality genetically modified food to students at the University of Reading. The summary highlights the target market, the products offered, and the financial capital needed for the startup.
- **Current situation and market analysis**: This chapter analyzes the food industry at the University of Reading, identifying key competitors, such as existing food suppliers and supermarkets. It also explores the current market situation, including potential growth opportunities and challenges, and identifies target customers, primarily students residing in the University's various halls of residence.
- **Products**: This chapter details the specific products Genemod Shop will offer, including purple tomatoes, British blackcurrant berries, tomato puree, and a variety of genetically modified vegetables. Each product is described in terms of its unique characteristics, health benefits, and anticipated pricing. The chapter also provides a table summarizing the pricing of each product compared to competitors.
- **Organizational plan**: This chapter outlines the shop's operational structure, including its hours of business, ownership, location, and startup expenses. It describes the planned organizational structure, with four undergraduate students managing the shop and employing interns and casual staff for specific tasks.
- **Marketing approach**: This section describes Genemod Shop's marketing strategy, focusing on the four Ps: Product, Price, Place, and Promotion. It outlines strategies for branding, pricing, product placement, and promotion through various channels, including advertising, social media, and direct marketing initiatives.
- **Operational plan and supply chain**: This chapter details the operational plan, emphasizing the company's objectives for increased product awareness and customer education. It also highlights the sales strategy, which focuses on personalized customer service and building customer loyalty through relationship-building and data collection. The chapter explores market segmentation, targeting students at the University of Reading, with a particular emphasis on the demographics and preferences of both male and female students.
- **Management plan**: This chapter outlines the ownership structure and management roles of the four founding students, highlighting their respective areas of expertise in business management, accounting, horticulture, and marketing. The chapter also details the roles and responsibilities of the interns and casual staff, outlining their contributions to the shop's operations.
- **Financial plan**: This chapter presents the financial assumptions, estimated budget for one year, and financial statements for the company, including a profit and loss account, balance sheet, and cash flow statements. The chapter also calculates key financial ratios to assess the shop's profitability and financial health.
Schlüsselwörter (Keywords)
The key terms and concepts explored in this business plan include genetically modified food, market analysis, product assortment, pricing strategy, marketing tactics, operational plan, financial projections, and corporate social responsibility. These keywords are central to understanding the company's goals, strategies, and projected outcomes.Frequently Asked Questions
What is Genemod Shop's primary business objective?
The shop aims to provide high-quality genetically modified (GM) food, such as purple tomatoes and blackcurrant berries, specifically to students at the University of Reading.
What specific GM products will be offered?
The product assortment includes purple tomatoes, British blackcurrant berries, tomato puree, and various GM vegetables.
How much startup capital does the company require?
Genemod Shop seeks £10,000 in startup capital, to be raised through member contributions, bank loans, and venture capital.
Who are the main competitors for this shop?
Competitors include local supermarkets and existing mobile suppliers who bring fruits and vegetables to the university campus on specific days.
What is the marketing strategy for Genemod Shop?
The strategy focuses on the four Ps (Product, Price, Place, Promotion), using social media, direct marketing, and customer education to build awareness and loyalty.
Where will the shop be located?
The shop will be located near the university's halls of residence, such as Hillside Court and Mackinder Hall, to provide convenient access for students.
- Citation du texte
- Raymond Cook (Auteur), 2011, Business Plan for Setting Up a Shop Selling Genetically Modified Food, Munich, GRIN Verlag, https://www.grin.com/document/215675
