Week 5

Final Business Model and Strategic Plan

Fidel Salazar

BUS/475

September 16, 2015

Melany Felton

Final Business Model and Strategic Plan

As a look at my business model and strategic plan, I realize I have a lot of work ahead of me. Implementing the strategic plan I have set for my company is a work in progress but it is due able. I was able to create a SWOTT analysis on my company but also on my competitors and seeing what they have done to become successful and what they bring to the customer. By completing the balance sheet, I can figure out the direction I want to go with my company and how I can achieve the goals I have set for myself. Knowing my target market, what the market will bear, as well as knowing my competitors will help my business become successful.

Strategic Plan and Tactics

Knowing the market and what the market bears plays a big role in where I would like to locate my business and who I’m trying to attract. According to Gorodesky and McCarron (1997-2014) “You must analyze the demographics (income, population, age, etc.) of your market to determine if your proposed concept, menu, and pricing is correct”. Knowing the location of my business will have to dictate what I would like to price my products. I am looking for a location in the North Fresno area, but knowing that, I must take into account that property is more expensive as well as leasing a location.

Moving forward with the menu that I have created and the pricing needed to look appealing to the customer as well as profit to the business. My plan was to design a menu that was going to be appealing as far as food and pricing. In an online I was reading written by Lorri Mealey in 2015, she states that, “Generally, food cost should be around 30-35%. This means that if you pay $1.00 for something, you need to charge minimum of $3.34. It may seem like you are charging a lot more than necessary, but keep in mind that you aren't just paying for the food itself.” By knowing...