Posted at 10.29.2018
This opportunity research document identifies and summarises the backdrop, position and future programs for the creation for Juicy Fruit Smoothies Ltd. This idea is Drink and Smoothy Club which is seen in most shopping centres, cinemas and department stores. This new type of business will offer the consumer an array of beverages ranging from carbonated drinks to berries flavoured drinks with nutritious materials. Furthermore, this home based business will sell a number of ice lotions and chocolate.
Beverages are being among the most sellable items that individuals can offer. Reselling beverages like concentrate juice, supplement c drink and nectar drink is most profitable during the summer in which a frozen juice or smoothie drinks can be relaxing relief from heat of the sun. This is why why it will be a good notion to start a small business selling juice fruit and smoothie drink if seeking a good and profitable starting start up business.
The Juice and Smoothie brand has been has been a successful product brand all over the world. Juicy Berries Smoothies Ltd will use 100% healthy fruits to market a healthy advertisements campaign and appeal to conscious health goers. This business will start one drink and smoothie pub and will continue to grow in shopping centres, entertainment places, carry companies and gyms.
Juicy Berry Ltd's start up cost is 71000. The primary source of the price is from the general operating bills such as payroll, suppliers, insurance, advertising and other overheads. The rest of the costs are the overheads that are normally associated with checking a premise. We need an investment of about 100, 000 to get the business enterprise started.
The set up assumptions is illustrated below:
Start-up funding for expenses 54000
Start-up assets funding 17000
Non cash belongings from start-up 5000
Long Term Possessions 10000
Total Property 17000
Long Term Liabilities 100000
Total Liabilities 100000
Marketing & Advertising 5000
Repairs & Maintenance 1000
Shipping & Delivery 1000
Start-up Inventory 2000
Other Current Belongings 5000
Long Term Investments 10000
The objectives of Juicy Super fruit Smoothies Ltd are the next:
Create a state-wide sales staff.
Establish strong sales income by 2013.
Maintain tight control of cost and procedure during growth.
To successfully grow our products
Juicy Berry Smoothies Ltd's quest is as comes after:
Quality: Our fruit drinks are the finest quality, most nutritious food products. . . because we will accept nothing at all less.
Innovative: Our products will always be in the forefront of medical and nutrition influx. Innovative products, high tech manufacturing, quality guarantee and industry experience are the bases for our former and future successes.
Integrity: Our customers depend on the quality of our juice products. Our determination to the best standard is the building blocks of our customer's rely upon Oasis Juice. Delivering newly made drink to consumers will depend on extensive assistance and shared reliance between provider and shop. We stand behind our product, our service and our phrase.
Juicy Berry Smoothies Ltd will offer a range of smoothies, juices and energy beverages. Juicy Berry Smoothies Ltd will have over 50 different flavours that can only just be bought in this store, while still reselling the already popular ones, such as Electric power Punch. These refreshment beverages are healthier than soft drinks as they are made from real fruit and blended collectively to make the smoothie.
In order to make these smoothies we will use frozen fruit. Input it in the blender along with some frozen yogurt for thirty secs and the smoothie is ready to serve. It is very simple and fast method but it generates a great tasting product.
Juicy Fruits Smoothies Ltd will be a great chance to enter the meals and drink industry providing the consumer with another business to choose from when they decide on their commodities. The main long term goal of the business is to provide excellent customer satisfaction, be miles prior to the leading competitors and be profitable. Many people like smoothies and other nice like products but Juicy Fruit Smoothies Ltd will provide much healthier options that will aid in the competitive gain. New smoothie meals will be integrated as time goes on and more promotions will be available.
Key Top features of Juicy Berries Smoothies Ltd will include:
Skilled personnel who know about the need for high quality in every smoothie
Online service where customers will be produced available of the materials in each smoothie as well as the weekly special offers, and never have to go into the store.
Key Benefits to customers includes:
Great tasting refreshments made in leading of your eyes
Ability to sit down in store and enjoy your smoothie
Small & Large Size (low prices)
Huge selection of flavours
Juicy Berry Smoothies Ltd projects to be as customer friendly as is possible and therefore will offer you lower prices than the competition. We will welcome criticism from customers about how we can improve our products and of possible different flavours of smoothies. We believe that this is a great success as we are giving the clients exactly what they need. The customer may also be able to decide in the store what fruits they want in their smoothie, without the need for the menu being in use. However, we must charge a somewhat higher price to be able to provide this service. We will be the only real company to provide this service and we think that it will be popular.
As people are significantly trying to eat healthy we feel that now is the perfect time to enter the smoothie market. We have a variety of target retailers such as espresso shops, sandwich pubs, gyms, sports clubs, health clubs and hotels, as well as having stores of our own in shopping centres throughout the united states.
Most people know that super fruit loses its healthy content as time passes however what most people don't know is that this loss occurs within a few minutes. Therefore, it is crucial that the materials be as fresh as you possibly can in order for the customer to get maximum benefits. Juicy Fruit Smoothies Ltd has considered this in mind and has a system that is targeted on maximising freshness.
At when there is no company providing the clients with high quality fresh smoothies at a minimal price. The quality recipes are very limited and the costs are high. Juicy Super fruit Smoothies Ltd will be the first smoothie pub that offers a wide range of smoothies at affordable prices.
Juicy Berry Smoothies Ltd has a dependence on analytical spending to be able to determine what varieties of fruits and smoothie flavours people are looking for. The major areas that could need to be analyzed would need to be: types of fruits, recipes, glaciers cream flavours, and probably meals in the future. At this point in time Juicy Fruit Smoothies Ltd should be focusing on spending for research into what varieties of fruits people in the region would desire. Juicy Fruit Smoothies Ltd should also focus on hoping to analyze how they can carry fruits from areas at an inexpensive. This would entail finding good travel routes, good areas to find quality fruits, and also how to start getting them for a significant price. Through these checks Juicy Super fruit Smoothies Ltd should be able to figure out ways to get a good quality product thus giving them an advantage on your competition.
It would be good for them to attempt to outsource the evaluation for formulas to outside providers. This would allow them to obtain a more wholesome perspective on what varieties of blends to use in the smoothies and also would allow Juicy Fruits Smoothies Ltd to be more forward looking and potentially expand in to the global market at some point in the future. This way they do not have to focus completely on just the neighborhood area for business and you will be able to become more profitable through expansion.
The Smoothie and Drink Pub industry is an effective industry will many businesses doing quite well despite the economic downturn. The primary competitors such as Zumo already are a global brand and could have more stakes on the market and experience. That together may cause concern for the success of Juicy Fruits.
Loyalty to Customers
In any market or sector it is known that client satisfaction gives an improved competitive advantage for businesses already in the market. Since firms which have a high reputation and also have built up their clientele over the years, the customers will remain loyal to that business gives that business a competitive benefit.
Economies of Scale
Large and more capable businesses may be able to operate more efficiently due to minimal costs. These lenders are also more capable because of the amount of time spent in the sector this provides you with them more of a competitive advantages.
The Smoothie & Drink market is a widely known and successful industry
Juicy Berries Smoothies Ltd provides quality products than the key competitor including fresh fruits
Chocolate: Cadbury's and Nestle will be our suppliers
Drinks: Red Bull & Coca Cola
Smoothies: FRUITS with nutrients'
Professional products which will be sold to universities, colleges, restaurants and gyms
Successful because of the unquestionable potential to provide top quality products including healthy options.
Our rival companies like Zumo and Innocent may have a much better stake in the market plus more experience along with knowledge.
The competitors may formulate new methods for the new entrant - Juicy Fruit Smoothies Ltd
Future innovations in the smoothie formulas and further business expansion
Provide allergy free products such as peanut free beverages and chocolates
The major rivals such as Zumo & Innocent
Any contamination to the food source and shortages
Possible upsurge in supplier costs#
Strategy & Execution Summary
Juicy Fruit Smoothies Ltd will permeate the smoothie and juice drink industry by creating and deploying new smoothie and juice products and brands. The business will also track down in a reasonable and more accessible area. Shopping Centres & Gyms are the busiest places that a lot of consumers go to for recreation. Since that Juicy Super fruit Smoothies Ltd is promoting healthy drinks it is a right step in locating in a gym. We want to let the customer experience an easy and friendly service with no inconvenience of longing too long for their purchase. The business enterprise is for a customer that wants a quick drink on the run and who would like to enter and out fast.
Juicy Berries Smoothies Ltd has determined that the market is busy and the potential goal customers will range from school and college or university goers to business people who will be moving by the drink club at regular intervals and that's the reason location is lots one success pattern.
In addition to providing a quality product and an intensive menu of delicious items, to ensure customer consciousness and commitment, as well as positive community and press support, Juicy Fruit Smoothies Ltd can continue steadily to offer more promotions if it deems to be always a successful juice and smoothie pub.
Juicy Fruits Smoothies Ltd strategy is showing individuals who JF has a fantastic product, convenient convenience, and with a community benefit. To execute upon this strategy, Juicy Fruits will be locating its bars at easily accessible with the Dublin area. Juicy Fruits will be rates its products competitively and training the personnel to the highest criteria in the country
In doing so, Juicy Super fruit Smoothies Ltd must:
Provide a person with an excellent product at a competitive price
Provide the customer with a more convenient method for obtaining their desired product
Demonstrate how Juicy Fruits appreciates customer devotion buy offering marketing promotions, coupons, loyalty credit cards, etc.
Continue to apply future marking strategies also to ensure that Juicy Fruits will be prior to the leading competitors
Identify future advancements and possible merging with other retail companies such as Spar or Centra
Continue will some general market trends in the area of customer satisfaction. Are the customers content with the amount of service? Are they happy with the products? Any feedback? This may be done through reviews cards.
Strategy Pyramid. jpg
The target market is huge, covering virtually all demographics, with an emphasis on the age group of 15-35 i. e. aged college goers, students and young pros. Thus seeking the franchises near colleges, shopping centres and in town is important.
Perhaps it might also be good for cooperate with a present-day establishment in Ireland for the beginning up of the company, i. e. cooperate with a shop, such as Centra or Spar, utilizing their well known brand to help solidify the name of the new franchise. This again would result in an addition to the already high start up costs, but it may well be the smartest and most effective route frontward.
An in depth researching of the marketplace prices would also be needed and Juicy Fruits would most definitely have to bill significantly less than its competitors to be able to gain a feet hold on the market. This might need to be continued for a number of months/years to be able to persuade people away from companies like Zumo. This would bring about low income for the first few accounting times and with the high start up costs the margin for a wholesome revenue in the first two years is suprisingly low.
However, all this being said, the actual fact that there is merely one other Smoothie and Juice Pub company out there in the market in Ireland at this time means the potential for a new company is excellent, as long as an efficient strategy is devote location to effectively part a portion of the health grocery store.
The effects of the industry affect how we will have to market, as well as what services/products we must offer in Juicy Super fruit Smoothies Ltd. For example, we will have to separate our drink and smoothie products from others as well as focus on their weaknesses and exploit them. The major competitors we've in the drink industry are cafes and firms such as Starbucks. Juicy Fruits must be sure to specify how much healthier their product is compared to coffee and just why it is a much better choice. This can hopefully enable them to appeal to customers away from the competition as well as permit them to gain a good foothold in the market. Geography segmentation is not a large part of Juicy Fruit Smoothies Ltd concerns. The prospective market/customers for the company are an extremely large range it doesn't target anyone in particular. Just your average people, the only part of the geography that would be major has been sure to maintain a densely filled location such just as downtown Dublin or immediately on/near the campus. Now we can look at the different tiers that Juicy Fruits Smoothies Ltd would be concerned with.
Tier 1 (Business Juicy Fruits Smoothies Ltd can leverage independently)
Fruit and Smoothies
Tier 2 (Market sectors that may be leveraged with help from a partner)
Tier 3 (Future establishments to try)
Food (full dishes)
The two main rivals in this industry are Zumo and Innocent. Zumo has been in Ireland since 2001 and are the largest juice and smoothie pub chain in Europe, with over 100 bars in 13 countries. Their company is extremely much like ours as they make up their smoothies in store also. We will have an advantage over Zumo even as we will have a larger selection of smoothies as well as the customers will have the choice of choosing the fruits that get into their smoothies. We expect to steal a great deal with their customers because of this.
Zumo has already been a well established company and also have had the blissful luxury of charging high charges for their product and having an enormous mark-up. In order to break into their market we intend to have cheaper prices and also have special offers each week. E. g. For just one week have "Power Punch" smoothie at 1. 50. This is extremely good value and even though we will not be making very much earnings off this deal, we expect that it'll attract customers into the store and also that people will sell quite a large amount of the merchandise on special offer.
Innocent is a UK centered company that was founded in 1999. They offer smoothies and juices also, however the key difference between our company and theirs is that we plan to make ours fresh in store whereas their product comes readymade in cartons and plastic containers. Their product comes at a cheaper price than ours however most of the goodness is lost in the smoothie as well as the majority of men and women find that it generally does not tastes as nice as the newly made smoothies.
Juicy Berry Smoothies Ltd will be successful if it's able to satisfy the key customer criteria. This consists of: high quality product, affordable prices, speedy and friendly service. It has advantages over other smoothie providers for the next reasons:
Juicy Berry Smoothies Ltd has an enthusiastic interest in gratifying the customer, and therefore spends time perfecting their recipes. The wide range of flavours that Juicy Berries Smoothies Ltd provides should gratify all tastes. The customer can realize your desire of choosing what switches into the smoothie on off chance that there isn't a formula that suits the customers taste.
We will provide high quality smoothies in less than a minute. This speed is vital to be able to compete with the competitors as customers will never be willing to hold back for over 5 minutes for their smoothies. This time will be increased considerably when there is a queue. Therefore it is essential to us that the smoothie is made and in the customers submit two minutes.
This speed is also good for the grade of the product. As outlined early, the nutrition leave the fruits within minutes, therefore this technique will keep our product as healthy as is feasible also increasing its charm.
The Fruit Juice and Smoothie pub market happens to be occupied, in Ireland, by one major company, Zumo. The Zumo chain of bars is, at the moment the only reasonable competition to the launch of a fresh franchise of smoothie bars.
The creation of the new string "Juicy Fruits" would most certainly result in direct retaliation from this major rival and programs must be put in location to differentiate the products that Juicy Fruits intend to sell from those of Zumo. In the same way, other areas of competition, such as caffeine houses like Starbucks and Insomnia must be prepared for. An focus on the healthier aspects of a smoothie over things such as espresso must be pressured in an early on advertisement advertising campaign.
As there is only one major rival in this area there is apparent room for growth on the market. An educational and affordable advertisement campaign would be essential and would need to be run early on in the life span of the company, perhaps even before the first Smoothie and Drink bars opened. This definitely will lead to a high start up cost; however the insufficient any effective advertisement campaigns currently from Zumo would cause excellent market coverage for said ad campaign.
Due to well established companies already in the forex market, we be prepared to at first have a small market show. However, after we have an advertising campaign set up we expect this to go up to approx 5% within twelve months.
As already stated, it would be necessary to run an useful advertisement campaign early on in the company's development. This might be necessary to be able to corner the market in early stages in the business' development. It might be my recommendation to perform this advert plan before the first store opened up its doors in order to generate some expectation and create a slogan about the new franchise.
It would also be wise to run offers and discounts for the first couple of weeks of existence, in order to attract more potential prospects. Deals would need to be sufficient to yank current Zumo customers away from their usual buys.
As I've said in the above mentioned section, creating a relationship with a more developed company would be very beneficial to the near future development of the franchise. This might convey some trust towards the business as well as perhaps add devotion to the brand name from those already loyal to the shop that Juicy Fruits will now operate out of, (Centra, Spar etc. )
Getting the correct theme for the Smoothie and Drink Bars may also be essential. The existing competition, Zumo, uses green and yellowish as their main colors and is quickly distinguishable. Juicy Fruits would have to also use colours that advised healthiness and fruitiness, without needing the same colours as Zumo. It is vital that Juicy Fruits remains differentiable from Zumo. I recommend the use of blues and reds on all things "Juicy Fruits"; this might strongly identify the franchise from the competition, and suggests a very good, healthy atmosphere.
An advert marketing campaign would get people buying smoothies rather than other goods such as coffee should also be run, concentrating on young professionals. It should be noted that, each day, a full smoothie has as much energy providing chemicals as coffee, and it is substantially better. This advertising campaign should be run later in the company's development, as the already high set up costs do not need to be added to from the get go.
It should also be produced clear that our smoothies and juices are significantly cheaper than the competition (and we will have to make this the truth, at least in the first one to two years of the company's life) to be able to draw potential clients out from Zumo and bring them directly into us.
High quality produce would be required, with an emphasis on reasonable trade fruits to be able to increase level of popularity with the general public. Perhaps a companywide affirmation saying Juicy Fruits is only going to buy reasonable trade produce would maintain order. This might also be an outstanding feature for the new business and would preferably draw in clients.
The promotional and marketing area of the business will be about 1000. When the company is established the business will then start with promotions like a "buy 1 get the 2nd at half price" offer. This type of strategy has been very successful with food and beverage industries and I've no doubt that type of strategy gives Juicy Berries Smoothies Ltd the start-up success it needs
I have analysed the costs program for Juicy Fruits competition along with our prices which are the following:
3 large, 2 small
1. 50 container, 1 can
From the desk above, Juicy Fruit's costs program is quite better and attractive than Zumo's prices structure. Zumo's products are much more expensive than Juicy Fruits which would help the buyer on choosing a product for less. It would be a choice of resource and demand.
Research & Development
In the meals and beverage industry, the necessity for R&D is an essential element as it will involve checking out your competitive advantages and also keeps tabs on your competition. Juicy Berries Smoothies Ltd will be providing new smoothie formulas and can require more general market trends to ensure these recipes havent been already created.
If so when a new recipe is developed patents, copyrights and branding legal requirements will need to put in place. In the event the new inventions and products aren't legalised then anybody could take the merchandise and utilize them for his or her own. With legalisation, this can help to eliminate this with the legal system.
Staffing & Operations
With Juicy Fruits the recruitment and occupation procedures will end up like the same as a great many other businesses. The main procedures that this business will need will be an interview, performance appraisal and you will see a trial period.
The main key areas that Juicy Fruit Smoothies Ltd's career procedures will go through will be:
At the end of about half a year there will be a performance appraisal which will evaluate the job performance of every staff member to be able to increase his/her employment
The performance appraisal will help to:
Inform employees on the status of their performance
Check to see if the employee might require more training
Identify staff decisions; to analysis salary raises or bonuses
Assess and provide communication between the worker and administration
The path period will be for one month and upon completion of this period you will see a little performance appraisal as stated above.
Since the Juicy Berries Smoothies Ltd is just starting up, you will see little amount of personnel which will be required before business expands that may then be considered a requirement to hire addition staff.
Juicy Super fruit Smoothies Ltd's management team will consist of a Director, an Operational Director, a Managing Director, and Accountant, Basic Supervisor & a Supervisor.
In order to provide efficiency to the consumer it is critical that the products and machinery is up and running and that everything is totally operational.
The Table of Directors will be the following:
Director (Stiophn Macintosh personal computer Suibhne)
Operational Director (Padraig Sheehan)
Managing Director ( Barry Cunneen)
Accountant ( Jesse Dunham)
The main operational requirements for Juicy Fruit Smoothies Ltd will include:
Location for the business
Functional Website (for promotional purposes)
It is essential that personnel be totally trained on the equipment to include manual handling training and healthy and basic safety before the first opening of the business. All legal requirements will need to complete before opening.
The main factors that will determine the success and future success of Juicy Berry Smoothies Ltd are:
Competition - it'll be important for me and my fellow workers to keep an ongoing track of the business's competitors to be able to attain full market probable. Since that Juicy Super fruit Smoothies Ltd already has competition with some main companies offering the same type of products, it'll be our job to keep to expand the business enterprise and continue steadily to offer bigger and better offers and products.
Reducing Overheads - making certain the overheads will stay low will be our top priority and will continue to be a business purpose. The main ways of lowering costs will be both change insurance requirements and trimming supplier costs as the business carries on on.
Development for Juicy Fruits Smoothies Ltd - as mentioned previously, Juicy Super fruit Smoothies Ltd will extend in one premises to numerous others pending the success within the first yr of business. General market trends such as surveys or questionnaires might provide feedback on our products and help evaluate customer satisfaction
High Customer Satisfaction - client satisfaction is the very best success factor for this business and it will operate a "boomerang" method of returning customers if they're kept pleased with the merchandise and service.
The main functional factors that need to be addressed are:
Quality Confidence: Keeping the products and customer service current will be a main priority.
Location: Juicy Fruit Smoothies Ltd will need a location in either a shopping centre or a health club to start out up. Several juice and smoothie bars setup in these areas and it'll help with the mark market.
Lease/Hire: the hire of the club will be projected as 1000 and the lease will be between 3-5 years. From doing some research on leasing laws and regulations in Ireland the notice to quit or terminate the lease must get four weeks in advance. The landlord will only be permitted to increase the hire on the beginning of a new leasing agreement. You will find no settings over the particular landlord can charge.
Maintenance - the maintenance on the gear and machines used to run the business is a top priority. Malfunctions and breakdowns can happen and without a proper maintenance agreement the business will suffer
The main key assumptions for the initial set up of Juicy Super fruit Smoothies Ltd will be:
Income Resources - Investment and a long term loan will be required to assist with the start-up costs of the business
Number of Employees - Salaries will vary on experience and length of service with the business but the original staff requirements will be a store manager and approximately three to four staff members
Rent - Projected rent will be about 1000
Expenses - Bills will change from staff wages, insurance, resources, and set assets
The main sources of funding will amount to 150, 000 which will be 100, 000 investment and 50, 000 business mortgage.
The financing required is to cover the costs of:
All of these elements are the primary requirements for the set up of Juicy Berries Smoothies Ltd also to assist with the costs that will be allocated to the daily functional requirements.
Financial Claims. jpg