Genemod Shop is a company whose ideas of formation dates back to October 2010, when four undergraduate students taking accounting, horticulture, marketing and business management engaged in an entrepreneurial discussion. Scheduled to start its operations in May 2011, its main purpose is to provide quality and timely food to students the University of reading. It will provide Purple tomatoes, British blackcurrant berries, Tomato puree and some GM vegetables as the main GM food. The name Genemod was arrived at after considering many options one being the combination of Genetic and Modified to get Genemod hence the company name. On the market opportunity, with the current trend in food consumption, it has been realized that genetically modified food remains the best option both at home and commercial residents. Students in the university travel to the supermarkets to get food which should be availed near their halls of residents. The university has many halls of resident including student village, hillside court, Martindale court and Mackinder hall among others which represents a good market to be exploited.
The company seeks a capital of £10,000 for the start up. This will be raised from member’s contributions, loan from financial institution and venture capitalists’ contributions. Repayment of the loan will begin immediately within two months of its operations. The shop faces competition from two main suppliers who bring fruits and vegetables to the school compound on Mondays and Wednesdays. Some students go to the supermarkets to buy the food hence this constitutes another competitor.
Table of Contents
1.0 Executive summary
2.0 Current situation and market analysis
2.1 Industry analysis
2.2 SWOT analysis
3.0 Products
3.1 Product assortment
3.2 Product sourcing, buying and inventory management.
4.0 Organizational plan
4.1 Hours of business
4.2 Company ownership
4.3. Company location
4.4 Start up
5.0 Marketing approach
6.0 Operational plan and supply chain
6.1 Sales strategy
6.2 Market segmentation
7.0 Management plan
7.1 Ownership structure
7.2 Legal requirements
7.3 Personnel plan
8.0 Financial plan
8.1 Financial assumptions
8.2 Estimated budget for one year
8.3 Financial statements for the company
9.0 Growth plan investment
Project Goals and Thematic Focus
This business plan outlines the establishment of "Genemod Shop," an entrepreneurial venture by four undergraduate students aimed at providing convenient access to high-quality, genetically modified food products for students at the University of Reading.
- Market analysis and competitive positioning in the university food sector.
- Strategic product selection including purple tomatoes, blackcurrant berries, and tomato puree.
- Organizational and operational management strategies for small-scale startup success.
- Financial planning, budgeting, and investment strategies for sustainable business growth.
Excerpt from the Business Plan
2.1 Industry analysis
The main suppliers of the genetically modified food come to the university on Mondays and Thursdays to sell their products. The sellers purchase food products from accredited suppliers who give them quantity discounts and after sale services like transportation to the university. Another main competitor is the supermarket in the town where students go for their food products. It stocks different kinds of food but it is opposed to the idea of genetically modified food. The supermarkets sale hybrid food products at slightly higher price compared to genetically modified food. This is justified by the fact that they take a lot of time to mature. Students go there since most of the time they don’t have an option when the semi weekly suppliers delays.
Summary of Chapters
1.0 Executive summary: Provides an overview of the company's origin, purpose, and the need for a startup capital of £10,000.
2.0 Current situation and market analysis: Examines the current economic landscape and identifies the target student market and existing competitive pressures.
3.0 Products: Details the specific genetically modified food items to be sold and the sourcing/inventory management strategy.
4.0 Organizational plan: Outlines the logistics of business hours, ownership, site location, and the startup timeline.
5.0 Marketing approach: Discusses the four Ps of marketing to effectively reach and persuade the student demographic.
6.0 Operational plan and supply chain: Describes the sales strategy and market segmentation based on demographic factors and student housing.
7.0 Management plan: Defines the internal hierarchy, legal requirements for registration, and personnel compensation.
8.0 Financial plan: Presents the financial assumptions, budget allocation, and detailed financial statements for the first year.
9.0 Growth plan investment: Explores future expansion strategies and the company's commitment to corporate social responsibility.
Keywords
Genemod, Genetically Modified Food, Business Plan, University of Reading, Startup, Market Analysis, SWOT Analysis, Product Assortment, Financial Planning, Marketing Strategy, Student Consumers, Operational Management, Entrepreneurship, Supply Chain, Break-even Analysis.
Frequently Asked Questions
What is the primary objective of this business plan?
The primary objective is to launch "Genemod Shop," a business run by university students that provides convenient, high-quality, genetically modified food to their peers at the University of Reading.
What are the core thematic areas covered in this document?
The core areas include market analysis, product strategy, organizational structure, operational planning, marketing tactics, management protocols, and comprehensive financial forecasting.
What specific scientific or business methods are utilized?
The document employs SWOT analysis for strategic planning, the four Ps framework for marketing, and standard financial accounting methods, including break-even analysis and economic order quantity formulas.
Who are the target customers for Genemod Shop?
The target customers are primarily students living in university halls of residence, such as the student village, hillside court, Martindale court, and Mackinder hall.
How does the company plan to handle competition?
The company intends to differentiate itself through convenience, quality products, targeted marketing, and by filling the gap left by current suppliers who operate only on limited days.
What is the total capital requirement for the startup?
The company seeks a total of £10,000 for startup expenses, which will be raised through member contributions, bank loans, and venture capital.
How will the company manage stock levels during peak demand?
The company plans to apply the economic order quantity (EOQ) formula and utilize a point-of-sale system to monitor inventory and ensure sufficient stock during peak periods.
What roles do the four founders play in the management plan?
The founders, who are students of business, accounting, horticulture, and marketing, divide responsibilities according to their fields of study to oversee operations, finance, supply quality, and marketing respectively.
What is the long-term growth vision for Genemod?
The vision involves scaling the business after one year by moving to a permanent location outside Mackinder Hall and potentially expanding into more branches within the UK market.
How does the business plan address ethical or social responsibility?
The company incorporates a corporate social responsibility strategy that includes funding library books and providing bursaries for needy students, alongside employing students as interns.
- Citar trabajo
- Raymond Cook (Autor), 2011, Business Plan for Setting Up a Shop Selling Genetically Modified Food, Múnich, GRIN Verlag, https://www.grin.com/document/215675
