Executive summary

Mickey’s Foods, a business that is expected to be put up in Georgia shall be operating a food restaurant with a start-upcapital of $11 million from banks and other financial institutions. This business shall run in the hotel industry.

Business aims and objectives

The business aims are to improve the lives of the people of Georgia and the united states of America at large by employing the people. More so, the business also aims at providing quality food conveniently to people in the business class so that junk food could be reduced.

The objectives are to maximize the profit of the business while minimizing the cost incurred in running it. Additionally, seeing the expansion of Mickey’s Foods to other states is also another objective. These objectives are SMART. They are well defined as well as focused. This means that they are specific enough and would enable the business to utilize the available resources into maximum use.

Nevertheless, they are measurable in terms of numbers. This is because growth can be measured. Besides, they are attainable because they are within reach of the business. These objectives are simple such that they are attainable by Mickey’s Foods. To add on to the bit on attainability, the objectives are relevant such that they are based on the realities that exist in the current business climate. Lastly, the objectives are also time-based because they are within the limit of Mickey’s Foods’ time frame that has been set out to achieve them. This is because the time limit has not been specified though it is reasonable for any business to make sure that it looks into the economics of profits and costs in the production process.

Mickey’s Foods’short and long term vision is to emerge the leader as well as the best in the global fast food market.The mission is to provide customers with services that would make the business the best of the service restaurants in the world. To be recognized as the best, Mickey’s Foods aims at providing the best services and unique quality coupled with outstanding cleanliness. The combination of these facts shall make Mickey’s Foods in the market and attract every customer, making them happy.

The business environment

Some critical factors need to be considered in the start-up of the business since they are quite essential.

SWOT analysis

Strengths of Mickey’s Foods

Mickey’s Foods has highly qualified staff, and they are a good investment that is expected to be the cornerstone in the turnaround of the business. Therefore, the highly skilled workforce can propel the firm to a new level and bring about sudden change that will enable the company to compete favorably in the market and industry.

Weakness

Mickey’s Foods is just new in the business. However, the firm has high expectations that may work against its future. For instance, the thought that Mickey’s Foods will become the leading food services provider in Georgia and the united states. Nonetheless, all these aims could be achieved if the business climate becomes favorable.

Opportunities

There is an untapped market in the provision of food services in the state of Georgia which opens up a chance for Mickey’s Foodsto control the food restaurant market. Still, some small businesses are in the market. However, they do not fully satisfy them, and thus they cannot be counted to be taking over the industry at Georgia. Although there are other food giants in the state, their operations do not cover the requirements of the clients, and so this is the reason as to why Mickey’s Foods is coming in to fill the gap. The clients require fast food that could be ordered online and delivered using the least time possible.

Threats

Mickey’s Foods faces stiff competition from the already established food retailer giants in the market such as McDonald’s who have enough financial muscle to pull surprises anytime. Such businesses could sell their products at reduced prices for the sake of hurting the new entrant. Worse enough, this particular enterprise is known for poaching all the essential staff that is about to be hired by a new rival business.

PESTLE Analysis

Political factors

The controlling authorities of the government and the issuing of operational licenses may become a stumbling block, especially where there is frustration from the government. However, the government does not intend to squeeze the hotel industry in Georgia, and thus this is an advantage.

Economic factors

Currently, the US dollar is doing quite well against major world currencies. Also, the rate of exchange is favorable meaning that the business climate is good in terms of the economic conditions. The economy is improving since president Donald Trump took power. The reduction of taxes that are directed at businesses by the Trump administration is also a boost.

Social

The demographics of the state of Georgia are encouraging because the population is improving with a significant number of people preferring fast food delivered at their place of work and homes. Moreover, there is a high demand especially during special days such as holidays when families decide not to prepare their food but order ready meals.

Technological

There are enough technological advancements in the field of accounting and security which enables the business to be well prepared to deal with any challenge in suchareas. For example, accounting software as well as improved security management system and social media are factors that would work to make operations better.

Legal

The market is well regulated, and legislation that is made by the US Congress are always meant to promote businesses and give them ample climate. Therefore, Mickey’s Foods is not going to be an exception in this but will benefit greatly.

Environmental

Environmental factors such as geographical climate are good and place the business in the right place near the market.

Marketing plan

Market research has already been done regarding the customers and their preferences. The product is food and pricing strategy will depend on the costs incurred and distribution will be done using Mickey’s Foods’ delivery services. To promote the products, advertisements shall be run on traditional and digital media.

Finance section

The starting capital will be approximately $10 million. The start-up costs are estimated to be around $6 million. The funding shall be obtained from banking institutions as loans. The additional sources are own savings, and the financial forecast is a revenue of $1 million in the first year.

Conclusion

Mickey’s Foods shall be located in Georgia, and the business is expected to meet competition from established food restaurants as it grows. Nonetheless, many factors are promoting the establishment of the company than those disadvantaging it.

Reference List

Brinckmann, J., Dew, N., Read, S., Mayer-Haug, K. and Grichnik, D., 2018. Of those who plan: A meta-analysis of the relationship between human capital and business planning. Long Range Planning.

Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan International Higher Education.

McKeever, M., 2016. How to write a business plan. Nolo.

Ward, J., 2016. Keeping the family business healthy: How to plan for continuing growth, profitability, and family leadership. Springer.

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