Reference no: EM133223715

Business concept- Coffee shop

• Industry Analysis: Research industry averages for profitability in the marketplace. Use this information to determine the validity of projections and make changes, if necessary, including the size of the industry in units and dollars; the growth rate of the industry; prospects for the industry; average gross and net margins on sales in the industry.
• Regulation and Legal Review: Determine location and business environment. Address all legal, zoning, and licensing concerns businesses will face. Visit Illinois state's Secretary of State website. What form of business will be set up? Why? The level of detail required for this section will depend on the type of location (virtual, retail, warehouse, office, restaurant, etc.) and idea. Demonstrate that have completed research. Don't say "We will obtain all of the appropriate permits"; instead, summarize them. When explaining the form of business-remember the audience. For example, if selecting an S corporation, explain the reasoning for that selection in the context of potential business, rather than defining an S corporation. Address any pending regulations which may have an impact on business.
• Competitive Analysis: Describe the competitive landscape. Who are the key competitors? What are their strengths and weaknesses? How will take a share from them? How will they most likely try to stop if are successful? Who are indirect competitors? What do they offer prospects? Include a map of their locations in the local area.
• Target Market and Segmentation: Describe the market. Where is it? How big is it? What is the growth rate? What are the unique features or dynamics of this market? What causes people to buy? What are the demographics and psychographics of the target customer?
• Value Proposition: Specific evidence that people will buy products or services. What is  a "hook?" Describe primary research, and explain how the results validate the value of the product or service to the target audience. Primary market research is the key to this evidence. Prove that if make this investment, customers will buy what is selling. What is the competitive edge?
• Pricing Strategy: Describe pricing strategy and specific prices. How did arrive at these prices? What are competitive prices? Why are different? How do prices relate to costs and development investment?
• Marketing Promotion Strategy: Describe the role, the strategy, and the execution of the total communications plan. What is the message? What are specific communication vehicles, such as advertising, literature, promotion, or the Internet? What type of scheduling or timing will use? Show budget by year and type of expense.
• Day-to-Day Operations: Describe how the business will "operate." If make a product, describe the production. I offer a service and describe each step of that service. If are a retailer, location, product mix, and suppliers are important. Think through the business' daily operations and explain them in detail. Then, think about who, what, and how each of those steps will happen. Realistically, how much of this can one person do? Strategically, how will plan for growth?
• Facilities and Equipment Plan: Describe and cost capital assets, such as production lines, office equipment, and buildings. If plan to have a physical location, include a floor plan if possible. Address build-out strategy. Are leasing a location that meets specs (fairly unusual); if not, include a build-out plan with high-level milestones, dates, and costs. What are startup timelines? Expansion timelines?
• Technology Plan: Describe the company's IT needs and how much they will cost and how will implement. Will have a web presence, and if so, what type of functionality will it include? If need a particular software program, explain its function. Will need licenses for each employee? Will handle  IT requirements "in-house" or outsource to IT consultants-explain the decision.
• Use of Funds
• Sales Forecast:
• Breakeven
• The Future and Globalization
• Appendix- Primary Research
• References

Please give more updated information on the industry. I would like to open the store in the Chicago area in Illinois state, I would like to see demographic information.