CONCESSION STAND BUSINESS PLAN GUIDE
Food concession business is an area that has witnessed steady growth over the years, with revenues exceeding projections.
The growth recorded in this sector does not seem to be slowing down anytime soon, as there are still opportunities for investment and a lot of investors showing interest.
However, one limitation faced by a lot of entrepreneurs is writing good business plans to help in sourcing for loans and also guiding their businesses to profitability.
This is where this concession stand business plan sample comes handy. It is aimed at guiding the entrepreneur in writing an effective business plan for their businesses.
Here is a sample business plan for starting a food concession stand.
- Executive Summary
- Products and Services
- Vision Statement
- Mission Statement
- Market Analysis/Trends
- Payment Channels
- Target Market/Population
- Competitive Advantage
- Sales and Marketing Strategy
- Sales Projection
- Publicity and Advertising Strategy
Due to the boom witnessed in the concession stands industry, we at Prime Concessions are poised at taking advantage of this growing market through the introduction of our unique concessions stand business that will see us offering products and services that include; the sale of a variety of food products, drinks and beverages, snacks among a long list of others.
Services that will be offered by Prime Concessions include training sessions, advisory and consultancy services among others. With these products and services, we are poised at gaining a considerable market share within the first 5 years of starting operations.
Products and Services
Driven by passion and excellent customer care relations, we will be rolling out products and services that first meets the food and drug administration recommended standards. Products like assorted snacks, beverages, drinks and also services that include trainings, advisory and consultancy services including the opening of a franchising arm will be provided.
Our Vision Statement
We have the vision of running a world class and highly effective business that will not only provide the best products, but also to empower prospective franchisees through our franchising arm which will commence operations a year after starting business.
We have a vision of spreading our business reach to cover the whole of New York City within the Initial 5 years of opening shop.
Our mission at Prime Concessions is building a strong brand that will be among the first 5 popular concession brands providing cutting-edge services to a diverse clientele and ensuring that they are absolutely satisfied with services rendered.
Whenever there is a gathering of people, be it political, religious, sports or community development, there are always needs to be met, and such include food, refreshments or just recreational needs. What concession stand businesses have done is to conduct research into the needs of individuals in such gatherings and come up with services that take care of these needs.
In the area of drinks, which is quite popular, the drinks provided typically include energy drinks, beverages, alcoholic and also non-alcoholic among others. Whatever type of services rendered, the motive is to extract a profit while providing a basic service that is satisfactory to the client.
Because we realise how customer satisfaction is key to the growth of a business, we have taken our time to ensure that we simplify the payment process/procedure through the introduction of several channels or options of payments that include POS, acceptance of cash payments, mobile money transfers, among other modes of payments.
These are aimed at lessening the burden faced by customers having to go through a lot of difficulty paying for goods and services rendered to them.
This is very crucial to our existence as a business entity as we will be targeting particular segments of the population which would most likely patronize our products and services.
Among these target populations are sport fans usually found at sporting arenas, outdoor events which provide a diverse population that will be making use of our services. Others include students, sportsmen and women, corporate chief executives, tourists, students among other varied segments of the population.
The competitive advantage we will have over other competitors offering similar services is that, we will have an effective marketing department led by a highly professional marketing expert that will coordinate the functions of this department effectively to spread word about our products and services to a large segment of the population.
Also, we will have an effective quality control unit to ensure that only the best products reach consumers.
Sales and Marketing Strategy
The sales and marketing strategy to be deployed will involve the services of a marketing strategist that will coordinate the operations of the department to achieve the highest sales and marketing among the consuming public.
We will also enter into agreement with chain stores, department stores among others to ensure the distribution of our products through these channels.
With research conducted by Prime Concessions, we have come to the conclusion that there will be a robust growth, with profits that will grow fast. However, this sales projection discounts factors like natural disasters or economic recession. This is summarized in the chart below;
- First Year $100,000
- Second Year $190,000
- Third Year $550,000
Publicity and Advertising Strategy
The publicity and advert strategy to be deployed will include the use of local radio and TV stations to disseminate the services offered. Also, we will be building a business website where all the products and services offered will be on display. Billboards will be an effective tool in advertising our services.
With this concession stand business plan sample, the entrepreneur is given a head start on how to effectively write a good business plan. Caution must be sounded here that the information made available here are imaginary and only used for illustrative purposes only, and should not be used as they do not represent any real business concern.