Since the arrival of fast food restaurants, a lot of entrepreneurs have become millionaires. If you are considering becoming a millionaire in the food industry, one of the coolest ways of making money is to open a French fries food production company.
Although this type is profitable, but at the same time you can run at a loss if your business is not well positioned and managed. It is important to state that loads of food related business cum fast food restaurants close shops simple because they failed to conduct detailed market survey and feasibility studies before launching the business.
Your ability to re – strategize and always ramp up your service deliveries will help you stay competitive. It is important to point out that French Fries food business is one the businesses that can’t go out of fashion simply because people eat food on a daily basis.
Depending on the scale you want to start, the startup capital for this type of business can be considered to be moderate. As a matter of fact, you can start your own French fries’ food business and then grow it big within a short period of time by reinvesting your profits back to the business.
If you are ready to take a journey into this industry, then this type of business is what you truly want to do after you must have done your findings. You will also need is to write a good business plan. Below is a sample French fries food restaurant business plan templates that will help you successfully write yours with little or no stress;
A Sample French Fries Business Plan Template
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
1. Industry Overview
French fries food business belongs to the Snacks Food Production industry and operators in this industry primarily produces snack foods such as potato and corn chips, pretzels, roasted and salted nuts, nut butters, popcorn and other related snacks.
Most players in this industry do not produce cookies, crackers, bakery products, cereal or granola bars et al. French fries are generally served hot, either soft or crispy, and are usually eaten as part of lunch or dinner or by themselves as a snack, and they generally appear on the menus of fast food restaurants.
If you are a close observer of happenings in the Snack Food Production industry, you will agree that the industry has profited from increased demand over the last half a decade. As the economy, has continued to experience growth, discretionary income levels have ascended.
Hence, renewed consumer spending has increased sales of potato and tortilla chips, along with nuts and seeds. With improvement in the economic conditions, the industry is expected to rake more revenue. Expected increases in per capita disposable income will aid some consumers to trade up to premium brands and product segments, helping drive revenue growth.
In addition, as consumers demand more healthy versions of existing snacks, players in the industry are expected to introduce a wider variety of products. The Snack Food Production industry is a thriving sector of the economy of the united states, United Kingdom, France, Italy, and Canada and in most country of the world.
Statistics has it that in the United States of America, The Snack Food Production industry generates a whooping sum of well over $38 billion annually from more than 2,851 registered snack food production outlets / franchise scattered all around the United States of America.
The industry is responsible for the employment of well over 53,204 people. Experts project The Fast Food Restaurants industry to grow at a 3.6 percent annual rate from 2011 to 2016. ConAgra, Snyder’s Lance and PepsiCo are the leaders in The Fast Food Restaurants industry; they have the lion market share in the industry.
Over and above, the French fries food production line of business is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale in a street corner like the average mom and pop business or you can chose to start on a large scale with several outlets in key cities all across the United States of America.
2. Executive Summary
Golden Fingers French Fries is a standard and registered chain of fast food restaurant that with strong bias in the production of French fries that will be located in one of the busiest roads in Long Beach – California but hope to spread out via franchising to key cities in the United States with the first 5 years of operations.
We are at the final stage of leasing a facility along a major road that is big enough to fit into the design of the kind of fast food restaurant that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Long Beach – California.
Golden Fingers French Fries will be involved in the sale of French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al in our restaurant and when customers order for it to be delivered to them in any location around us.
Basically, we will be involved in operating quick-service restaurants, operating fast food services, operating drive-thru and take-out facilities in our chains of fast food outlets that will be scattered all across major cities in the United States and Canada.
We are aware that there are several large and small scale French fries food business scattered all around Long Beach – California, which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering.
We have delivery service options for our customers, and our outlet is well secured with the various payment options. Golden Fingers French Fries will ensure that all our customers are given first class treatment whenever they visit any of our chains of fast food outlets.
We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to. We will ensure that we get our customers involved when making some business decisions that directly affect them.
We are aware of the trend in the snacks food production / fast food industry and we are not only going to operate a system where our customers would have to come to our fast food restaurant to make purchase or whatever they want, but we will also operate an online fast food restaurant and our customers can place orders for our foods, snack and drinks online and they will get it delivered to their houses or any location they want us to deliver the goods to within Long Beach – California.
Golden Fingers French Fries is a family business that is owned by Jason Kennedy and his immediate family members. Jason Kennedy is a French fries specialist; he has a B.Sc. in Food Science and a Diploma in Business Administration, with well over 6 years of experience in the restaurant and fast food industry, working for some of the leading brand in the United States.
Although the business is launching out with just one outlet in Long Beach – California, but there is a plan to open other outlets via franchising all around California and in other key cities in the United States of America and Canada.
3. Our Products and Services
Golden Fingers French Fries is in the snacks production industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to make available a wide varieties of French fries and snacks in our outlets always.
We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product and service offerings are listed below;
- Operating quick-service restaurants
- Operating fast food services
- Operating drive-thru and take-out facilities
- Potato chips
- Nuts and seeds
- Peanut butter
- Tortilla and corn chips
- Other chips
- Other snacks
- Sale of Chicken and Chips
- Sale of beverages, such as water, juice and sodas
4. Our Mission and Vision Statement
- Our vision is to become the leading French fries food production company – brand in Long Beach – California.
- Our mission is to establish chains of fast food restaurants that will make available a wide variety of French fries, snacks and soft drinks at affordable prices to the residence of Long Beach – California and other cities in the United States of America and Canada where we intend opening our chains of French fries food outlets.
Our Business Structure
Golden Fingers French Fries®, LLC do not intend to start a fast food restaurant business just like the usual mom and pop business around the street corner; our intention of starting a fast food restaurant business is to build a standard business in Long Beach – California.
Although our French fries food outlet might not be as big as ConAgra, Snyder’s Lance and PepsiCo et al, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.
We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.
In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Restaurant Manager
- Human Resources and Admin Manager
- Chef / Kitchen Workers
- Sales and Marketing Manager
- Information Technologist
- Accountants / Cashiers
- Customer Services Executive
- Van Drivers / Deliverers
5. Job Roles and Responsibilities
Chief Executive Officer – CEO (Chief Florist):
- Heightens management’s effectiveness
- Accountable for fixing prices and signing business deals
- Liable for providing direction for the business
- Creates, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
Admin and HR Manager
- In control for overseeing the smooth running of HR and administrative tasks for the organization
- Preserves office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Defines positions for recruitment and managing interviewing process
- Transmits out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Manages the smooth running of the daily office activities.
- Responsible for managing the daily activities in the restaurant (kitchen inclusive)
- Ensures that the restaurant facility is in tip top shape and conducive enough to welcome customers
- Interfaces with third – party providers (vendors)
- Reports to the Chief Executive Officer
- Handle any other duty as assigned by the CEO
Chef / Kitchen Staff
- Responsible for producing French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks as supervised by the kitchen supervisor
- In authority of carrying out all casual or unskilled jobs in the restaurant
- Responsible for packaging French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks meant for delivery
- Handles any other duty as assigned by the restaurant manager
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Document all customer contact and information
- Represent the company in strategic meetings
- Manages the organization website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
Accountant / Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Waiters / Waitress
- Promptly attends to customers in a friendly and professional manner
- Ensures that un-occupied tables are always set and ready for customers
- Pulls out chairs for customers as they arrive
- Handle any other duty as assigned by the Chief Operating officer / restaurant manager
Van Drivers / Sandwich Deliverers:
- Delivers customer’s orders promptly
- Deliver correspondence for the restaurant
- Runs errand for the organization
- Any other duty as assigned by the floor / line manager
- Responsible for cleaning the shop facility at all times
- Ensure that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the store facility
- Handle any other duty as assigned by the shop manager.
6. SWOT Analysis
Our intention of starting just one outlet of our fast food restaurant in Long Beach – California is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over California and Key Cities in the United States of America and Canada.
We are quite aware that there are several fast food and French fries food outlets all over Long Beach – California and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.
We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.
French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks employed the services of an expert HR and Business Analyst with bias in fast food line of business to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.
This is the summary of the SWOT analysis that was conducted for Golden Fingers French Fries
Our location, the business model we will be operating on (physical chains of fast food restaurants with active online presence), varieties of payment options, wide varieties of French fries, snacks and soft drinks and our excellent customer service culture will definitely count as a strong strength for Golden Fingers French Fries. So also, we have a management team that has what it takes to grow startup business from survival to profitability within the shortest time – frame.
A major weakness that may count against us is the fact that we are a new French fries food – business and we don’t have the financial capacity to compete with multi – million dollars chains of fast food restaurants with strong bias for French fries like ConAgra, Snyder’s Lance and PepsiCo et al.
The fact that we are going to be operating our fast food restaurant in one of the busiest streets in Long Beach – California, provides us with unlimited opportunities to sell our French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al to a large number of people.
We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our fast food restaurant; we are well positioned to take on the opportunities that will come our way.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new French fries food production business or fast food restaurant in same location where ours is located.
7. MARKET ANALYSIS
- Market Trends
In this era when the online community is growing rapidly, you would do your business a who if you create your own online presence. One of the easiest ways to get people to see you as an expert in your line of business is to blog constantly about French fries and fast foods generally.
You may also want to leverage on social media platforms like Instagram, Facebook, and Twitter, and others to publicize your French fries food outlet. You can as well go ahead to open an online portal where people can place order from French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al.
You must ensure that your delivery system is efficient if you intend to do well with your online fast food business. So also, keeping consumers’ appetites satisfied, fast food restaurants / franchises have created new menu options that capitalize on the trend of increasing awareness of the health risks associated with a high-fat diet.
The industry has also thrived by developing products at price points attractive enough to weather the slow recovery, resulting in strong revenue growth. As a result of this, these trends are expected to continue and contribute to revenue growth going forward.
8. Our Target Market
One thing about French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al is that you can hardly find someone who don’t patronize them. As a matter of fact, most fast food restaurants now have menu designed specifically for veg and others depending on their food preferences.
In view of that, we have positioned our fast food restaurant to service the residence of Long Beach – California and every other location where our chains of fast food outlets will be located in key cities all over the United States of America and Canada.
We have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to retail our products to the following groups of people;
- Event Planners
- Corporate Organizations
- Corporate Executives
- Business People
- Sports Men and Women
Our competitive advantage
A close study of the snacks food production / fast food industry reveals that the market has become much more intensely competitive over the last decade. So , you have to be highly creative, customer centric and proactive if you must survive in this industry.
We are aware of the stiffer competition and we are well prepared to compete favorably with other chains of fast food restaurants in Long Beach – California.
Golden Fingers French Fries®, LLC is launching a standard French fries food production business that will indeed become the preferred choice of residence of Long Beach – California and other cities where we intend opening our chains of fast food outlets.
Our fast food outlet is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Long Beach – California. We have enough parking spaces that can accommodate well over 20 cars per time.
One thing is certain, we will ensure that we have a wide variety of French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al available in our shop at all times. It will be difficult for customers to visit our fast food outlets and not make a purchase of French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al.
One of our business goals is to make Golden Fingers French Fries®, LLC a one stop fast food restaurant. Our excellent customer service culture, online options, various payment options and highly secured facility will serve as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups French fries food production / fast food restaurants) in the snacks food production / fast food industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Golden Fingers French Fries is in operation to operate a standard and secured fast food restaurant business in Long Beach – California. We are in the snacks food production / fast food industry to
- Operating quick-service restaurants
- Operating fast food services
- Operating drive-thru and take-out facilities
- Potato chips
- Nuts and seeds
- Peanut butter
- Tortilla and corn chips
- Other chips
- Other snacks
- Sale of Chicken and Chips
- Sale of beverages, such as water, juice and sodas
10. Sales Forecast
One thing is certain when it comes to fast food restaurant business, if your fast food restaurant is centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We are well positioned to take on the available market in Long Beach – California and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.
We have been able to critically examine the snack food production / fast food industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Long Beach – California.
Below is the sales projection for Golden Fingers French Fries®, LLC, it is based on the location of our business and other factors as it relates to French fries shop start – ups in the United States;
- First Fiscal Year-: $120,000
- Second Fiscal Year-: $250,000
- Third Fiscal Year-: $750,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location for Golden Fingers French Fries, we carried out a detailed market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Long Beach – California.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. We hired experts who have good understanding of the snacks food production / fast food industry to help us develop
In other to continue to be in business and grow, we must continue to sell our French fries, snacks and drinks which is why we will go all out to empower or sales and marketing team to deliver. In summary, Golden Fingers French Fries will adopt the following sales and marketing approach to win customers over;
- Open our French fries food production outlet in a grand style with a party for all.
- Introduce our French fries food production outlets by sending introductory letters alongside our brochure to corporate organizations, schools, event planners, households and key stake holders in Long Beach – California
- Ensure that we have a wide variety of French fries, snacks and soft drinks in our restaurant at all times.
- Make use of attractive hand bills to create awareness and also to give direction to our fast food restaurant
- Position our signage / flexi banners at strategic places around Long Beach – California
- Position our greeters to welcome and direct potential customers
- Create a loyalty plan that will enable us reward our regular customers
- Engage on road shows within our neighborhood to create awareness for our fast food restaurant.
11. Publicity and Advertising Strategy
Despite the fact that our fast food restaurant is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote Golden Fingers French Fries.
Golden Fingers French Fries has a long-term plan of opening chains of fast food outlets in various locations all around California and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Long Beach before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Golden Fingers French Fries;
- Place adverts on community based newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
- Ensure that our we position our banners and billboards in strategic positions all around Long Beach – California
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact corporate organizations, households, religious centers, schools and event planners et al by calling them up and informing them of Golden Fingers French Fries®, LLC and the products we sell
- Advertise Golden Fingers French Fries®, LLC business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and delivery vans and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals
12. Our Pricing Strategy
Pricing is one of the key factors that gives leverage to fast food restaurants, it is normal for consumers to go to places where they can purchase / order French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al at cheaper price which is why big players in the snacks food production / fast food industry will continue to attract loads of consumers.
We know we don’t have the capacity to compete with bigger and well – established chains of snacks food production outlets like ConAgra, Snyder’s Lance and PepsiCo et al, but we will ensure that the prices of all the products that are available in our fast food restaurant are competitive with what is obtainable amongst fast food restaurant within our level.
We are aware that there are contracts for supply of fast foods and soft drinks by government establishments, NGOs, corporate organizations or big religious organization; we will ensure that we abide by the bidding pricing template when we bid for such contracts.
- Payment Options
The payment policy adopted by Golden Fingers French Fries®, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Golden Fingers French Fries®, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards / Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for the purchase of products without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our products and services.
13. Startup Expenditure (Budget)
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
As for the detailed cost analysis for starting a French fries food outlet / fast food restaurant; it might differ in other countries due to the value of their money. These are the key areas where we will spend our start – up capital;
- The total fee for registering the business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
- Marketing promotion expenses for the grand opening of Golden Fingers French Fries®, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
- The cost for hiring Business Consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
- The cost for construction of a fast food restaurant (kitchen inclusive) – $100,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for Start-up inventory (food ingredients, drinks and packaging materials et al) – $80,000
- Storage hardware (bins, rack, shelves, food case) – $3,720
- The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
- Cost for store equipment (cash register, security, ventilation, signage) – $13,750
- Cost of purchase of distribution vans – $50,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
- The cost of Launching a Website – $600
- The cost for our opening party – $10,000
- Miscellaneous – $10,000
We would need an estimate of two hundred and fifty thousand dollars ($250,000) to successfully set up our French fries food outlet in Long Beach – California. Please note that this amount includes the salaries of the entire staff member for the first month of operation and the amount could be more or lower.
Generating Funds / Startup Capital for Golden Fingers French Fries®, LLC
Golden Fingers French Fries®, LLC is a private business that is solely owned and financed by Jason Kennedy and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $100,000 (Personal savings $80,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Golden Fingers French Fries®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to retail our French fries / potato chips, nuts and seeds, peanut butter, tortilla and corn chips, other chips, other snacks, water, juice, and sodas et al a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Golden Fingers French Fries®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the restaurant (kitchen inclusive): In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Compilation of our list of products that will be available in our shop: Completed
- Establishing business relationship with vendors – suppliers of potato, ingredients, coffees and soft drinks: In Progress