Planning for Business Growth



Planning for Business Growth

Introduction

This term paper is based on the Case Study: Planning for Growth. Kelly's Sandwich Stop is one of the best recognized sandwich concessions in town. There are lucrative business opportunities for Kelly close to a mall and suburbs as there will be large number of customers who can avail the superior food services of Kelly's restaurant. Kelly's restaurant entails a number of direct and indirect competitors. The indirect competitors include all the large and small scale restaurants and hotels in the locality of a mall and suburbs.

Discussion and Analysis

Growth Strategy

Businesses must devise a proper and holistic marketing communications strategy in order to profitably market their offerings. It involves integrating all the marketing tactics to deliver a superior value. Kelly's restaurant is a small scale business. The business will need subsistent marketing in order to inform, aware and attract a large number of customers. Being a small scale business operating for middle income class customers, it will have to find creative ways of advertising and marketing (Bovee & Thill, 2013).

The target market of Kelly's restaurant is the middle income class people, the prices of the food and drinks will be kept at a medium level, neither too expensive nor too cheap.

Business Form

The management of the Kelly's restaurant will consist of one owner of the business who will be looking after the overall working, operations, expenditures and the profits. Under the owner, there will be a finance manager responsible for handling the financial operations, a marketing manager who will oversee the marketing, branding, and promotion and advertising strategies.

There will also be human resource manager who will make sure that adequate number and quality of friendly staff is present at Kelly's restaurant and a floor manager who will look after the premises of Restaurant. The floor manager will be responsible for ensuring smooth working on the main place of restaurant which includes cleanliness and appropriate functioning of staff (Tucci, 2000).

Financial Assistance

As a sole proprietor, Kelly can get the financial assistance from the banks in terms of a short term credit. She can apply for a loan which can be repaid on the monthly installments. It is the most effective way for financing a new business. The short term loans carries low interest rates; which can be paid easily after commencing the operations of this new restaurant close to a mall and the suburbs ...