Business Plan- Global Foods Super Market
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4573 Downloads I Published: 11 Sep ,2017
The retail sector in UK is booming with new and existing stores expanding and bringing in new products and services to attract customers. Regardless of the increasing size of the industry the market still presents opportunities for unique products and concepts. Thus starting a new supermarket food store in organic category is a great opportunity.
A revolution is started in the food industry with the introduction of Organic Food. The reason it is becoming popular is the change occurred in the choice of food. Back in the 1960's, the Green revolution started at the industrial scale that involves use of large amount of pesticides and fertilizers to produce massive crops. But the resultant consequences of pesticides have turned out in the form of diseases and negative health effects. People and governments have realised the necessity to reduce the impacts of unhealthy food and thus have now started focusing on organic farming that produces food in health and chemical free environment. The food is pesticide free and have sustainable and health benefits. But still, there is lack of wider availability of organic food in terms of variety and quantity. The market presents huge scope and an opportunity to procure food and make them available for the people. Moreover there is also increasing demand for food product of Asian and Middle east specially in Non vegetarian category (Anderson and Khedair, 2009).
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It has been planned to open a supermarket in the city centre of Cardiff, Wales. The food variety includes Asian, Indian, Chinese and Arabian foods in both vegetarian and non-vegetarian categories. The objective of the business is to procure organic food from different suppliers and make them available through physical and online means. In the category of non-vegetarian food for which all these above nations are best known the supermarket will provide raw materials and spices. The procurement plan for food includes that certain health standards will be established to ensure that non vegetarian food maintains its health and nutrition benefits. Further, the plan also includes availability of food through online website so that people in other cities can also avail the benefit.
For first one year, the product variety and quantity will be limited to judge the customer response and will move accordingly.
All finished and unfinished food products of Asian, Indian, Chinese and Arabian cuisines in both veg and non-veg category will be made available through physical and online means. It includes spices, ingredients, ready to cook, crops and vegetables. The non-vegetarian category includes meat, chicken, pork, shrimps, fish and oyster. Furthermore, the non-vegetarian category includes both halal and non halal.
The establishment of physical store and website development requires substantial investment which will be contributed through personal savings and bank loan.
Total estimated investment - £2,500,000
Owner contribution - £1,500,000
Bank loan - £1,000,000
The business will be registered as private limited company. However, the registration process can be done online by depositing fees of £15 and necessary documents with the companies house. The following information and documents will be required -
For this purpose, information about the company will be submitted to HM revenue and Customs (HMRC) within the three month duration of starting the business. The company registration with Companies house will provide unique taxpayer reference (UTR) which needs to be submitted online to HMRC. The following information needs to be submitted with HMRC:
The registration of VAT is necessary as it has been estimated that business turnover will be more than £82,000. The registration process can be done online and required information can be submitted with HMRC. The other way to register for VAT is to appointment an agent who will submit the VAT Returns and deal with HMRC on company's behalf. HMRC will send a VAT certificate and VAT number. The registration is compulsory because -
There is also a provision for exception in VAT if taxable turnover reach above £82,000 on temporary basis. In that case, an application can be submitted to HMRC mentioning that VAT taxable turnover will not go above £82,000 in the next 12 months.
The business will require a licence as it involves operations regarding selling of food products. the business will be required to contact the local council for registration purpose and obtaining a valid license that approves the premises and functions undertaken therein.
The business will require to find suppliers that can supply foods products in desired standards. There are two options available to procure food -
At present there are 26 major supermarket chains operating in UK. out of these 10 are present in Cardiff city. All the 10 supermarket brands offer multiple products through physical and online channels. The interesting thing is that none of the major food supermarkets have any presence in Cardiff. Thus it means there is an untapped market offering huge opportunity for global foods.
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According to IGD, the growth in UK grocery market is expected to grow by 16.3% to £203bn. The share of hypermarkets and superstores is estimated to be worth £70bn by 2019 accounting for 35% of the total grocery market (Gladding, 2014).
The IGD research in the grocery market also revealed exciting growth opportunities with the fact that all three channels i.e. online, discount and convenience will have more than 105% of growth in the next 4 years. Another opportunity lies in the online channels which is considered as the fastest growing among the all three and is estimated to double by 2019 (Jones and Penaluna, 2013).
The business plan includes selling food products from both channels i.e. physical store and online means. It is recommended to procure and sell organic food products from both the channels. This helps to focus on one single category and increase the product quality. The food category includes both vegetarian and non-vegetarian products. Moreover the vegetarian category includes only organic food. Thus market segmentation can be done on the basis of behaviour of customers that includes choice of food. Thus with the select category the business can provide service to mass consumers (The food people, 2014).
For online services, the business needs to tie-up with local logistics providers who can deliver goods in other cities. The organisation requires entering into strategic partnership with at least two logistics providers who can provide services for paid and CODDING orders.
The business plan aims to deal with goods that are perishable in nature. Thus it is important to identify suppliers who can supply quality products with proper storage and transportation facilities. The business aims to sell grocery products of multiple cultures that may not be available in UK. It is thus recommended to search for suppliers from the Asian countries that can transport quality products to UK. It is important here to develop standard of food supply so that quality is maintained for long time (Alexander, 2008).
The plan is to supply food products from exclusive cultures that are not easily available in UK. This will helps to gain competitive advantage in the market as the brand will have exclusive food products in both veg and non-veg category.
Features of full e-commerce site with shopping cart and offline plus online payment facilities, The admin area includes full management from the back end that allows to input and modify stock information along with changing prices and inventory levels. The home delivery will be available for minimum order of £20.
Store and online operation
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Financial forecast is done taking into consideration the different factors related with growth and development of grocery market in UK and Cardiff and number of competitors.
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