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Business Plan - Coggle Diagram
Business Plan
Executive Summary
“If, at any time, it comes into my head, that a present is due from me to somebody, I am puzzled what to give, until the opportunity is gone.” Ralph Waldo Emerson “Gifts,” Essays, Second Series (1844).
In the 160 years since Emerson made this statement, certain things haven’t changed: some of the most successful businessmen still have trouble purchasing gifts – especially flowers – for their wives, fiancées or girl friends and also for events. While some things don’t change, fortunately others – such as technology that can make the gift-giving process easier – do.
FOREVER FRESH FLORIST believes there is an opportunity to use technology to make it simple for male executives to easily purchase custom flower arrangements, with delivery on days they determine in advance, for their loved ones.
Company Description
FOREVER FRESH FLORIST will use technology to identify and serve an ideal target audience within a five-mile radius of Castleberry Hill. The company will use sophisticated marketing techniques to secure a core clientele of executive businessmen and corporate accounts, and will differentiate from other traditional retail and on-line florists by offering Frequent Flower Gift Programs with personalized service (e.g., customers can select the specific delivery dates) and custom floral designs (e.g., customers can specify flowers, colors, scents, etc.).
Market Analysis Summary
The following section presents a broad range of market information and projections, including:
-Who is the typical floral buyer, and who is the typical floral buyer at FOREVER FRESH FLORIST?
-How and why does he or she purchase flowers?
-What are the prevailing buying patterns in the floral industry?
-What is the size of the market that FOREVER FRESH FLORIST plans to target?
-What is the overall buying potential/revenue for FOREVER FRESH FLORIST?
-Who is the competition in the market?
SERVICES:
-Priority delivery program. FOREVER FRESH FLORIST will work with each commercial customer to determine a weekly delivery schedule, and will assure that arrangements are delivered on the same day each week at the same time.
-Birthday Blooms. FOREVER FRESH FLORIST will offer a free arrangement to each office manager for a commercial account on his or her birthday.
-Referral Program. FOREVER FRESH FLORIST will offer a one-time 25% discount to each commercial customer for every additional commercial referral that becomes a customer.
PRODUCTS AND SERVICES
PRODUCT:
-Original Floral Designs, Using A Wide Mix of Flowers. Each floral arrangement will be a natural, original work of art. The company is committed to making each arrangement unique and custom-designed based on each customer's needs.Floral arrangements will feature a wide range of seasonal flowers. All sample arrangements in the store will be available for purchase.
-Unique Containers. FOREVER FRESH FLORIST will select and offer distinctive vases for the discretionary buyer or for a special occasion, as well as affordable options for routine purchases.
-Green and Flowering House Plants. FOREVER FRESH FLORIST may occasionally offer a selection of seasonal green and flowering house plants.
-Gourmet Chocolates. With consumer's heightened awareness of chocolate brands and a seeming willingness to pay for a better product, and will carry several lines of exclusive gourmet chocolate bars, that is, the brands will not be sold by other retailers. The sale of gourmet chocolate is a perfect complement to flowers, and encourages consumers to indulge and experience something new because they are worth it.
-Variety of prices. FOREVER FRESH FOREVER will offer a variety of arrangement sizes, and will always create a unique arrangement to meet anyone's stated budget.
Hand-tied Bouquets. For customers who prefer to use their own vases, FOREVER FRESH FLORIST will offer hand-tied bouquets.
Marketing Strategy
Tactics
1.Make giving flowers to loved ones an effortless, automatic process.
2.Make the flower buying experience fun and easy.
3.Make flowers a habit by encouraging men to take flowers home routinely, not just for special occasions.
4.Shift the flower buying responsibility from women to men.
Programs
1.Direct Mail/Postcards
Develop a list of potential clients for routine communications about holiday specials and frequent buyer/gift programs.
Push users to a website that will enable them to see sample designs, read about the Forget-Me-Not Club, and complete a form to request a free phone consultation.
2.E-Mail
Buy/develop an e-mail list for routine communications about holiday specials and frequent buyer programs.
Push users to a website that will enable them to sign-up for a free phone consultation.
Marketing Materials
Develop a consistent look and feel for all corporate collateral, including:
Comment cards - collect name, addresses, e-mail, plus feedback on services.
One-page brochure describing Frequent Flower Buyer Programs.
Stationery - business cards, letterhead, envelopes.
Gift cards.
Packaging - develop no-spill packaging to make it easy to transport flowers and use all packaging for branding opportunities for FOREVER FRESH FLORIST logo and website.
3.Website
Highlight frequent flower program (for individuals and businesses), enable visitors to schedule a free phone consultation, spotlight the floral design gallery and any local gallery events. Photos will change monthly.
Financial Plan
1.Contracted Labor and Rent make up over 40% of the operating expenses.
2.FOREVER FRESH FLORIST wants to finance growth through cash flow.
3.Marketing will remain at or below 6% of sales.
4.Company expansion, while not a necessity, will be an option if sales projections are met and/or exceeded.