In order to portray the professional image that viking Stores' customers have come to expect, a selection of uniforms are available. Uniform requirements are facilitated with the use of a contracted distribution and laundry service. Industry Analysis According to fmi united States regional average weekly household spending in 1999 was fairly equal across regions, with shoppers in the midwest spending 83; the south, 83; the east, 98; and the west, 92 per week. As a progressive leader in the food distribution industry, viking Stores, Inc., based in Kansas City, missouri, owns and operates 113 supermarkets and drugstores in Missouri and Illinois under the Ames' markets, family supermarkets, food fair, gordon's Markets, sunshine markets, and The bond banners. Under the direction of corporate leadership and a board of Directors, viking Stores, Inc., will continue to foster innovation and support and promote growth of the company to ensure its success. Sales for viking Stores' retail grocery segment increased.1 percent to 148 million during the first quarter of fiscal 2001, reflecting additional sales from the acquisition of 23 Gordon's Markets and three sunshine markets in fiscal 2000. Comparable store sales increased approximately.4 percent in the first quarter, primarily because of the company's promotional programs and continued emphasis on product-line expansion.
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To support our retail store(s electronic marketing story allows us to access complete data analysis and marketing services. These services include data storage, strategic planning/consultation, sourcing for card/key tag manufacturing, custom marketing program development, promotions and campaigns, electronic marketing training and education, retailer-specific data analysis, and support of third-party programs. Promotions building store traffic, generating consumer excitement, accelerating sales and profits, and positioning our store competitively in the market will be relatively simplified by the use of the sales Promotions Department at vikings. By combining their purchasing programs with trendsetting insight, viking has created over 100 profit-generating retail promotions each year. Viking retailers select those promotions that best meet their unique marketing needs. Backed by tv spots, circulars,. Materials, sweepstakes and more, this promotional activity is key to our retail success. We will also promote our store using information gathered from our Mystery Shopper Program. This program was developed to provide monthly feedback to owners and managers on the status and condition of the stores. The program focuses on these major areas: Internal and external store appearance Product availability point-of-purchase materials food service Uniforms Most importantly, the quality of service received at the register Each store is visited by a mystery shopper once a month, making goto sure that all shifts. Employees are eligible to earn cash incentives and top stores are honored with awards quarterly.
Target Market Segment Strategy our store will year meet the grocery needs of the surrounding neighborhood of female or male head of households earning 15,000 per year or more. We will reach our consumers by taking full advantage of viking Stores' single clearinghouse for manufacturers' coupons, viking and manufacturers' in-ad coupons, and warehouse damage coupons. Our redemption programs will include viking gift certificates, selling-show vouchers, and mail-in rebates. Other services include the viking Gift Certificate program, inad coupon redemption, and scan-down service to manufacturers and brokers. Technology: Electronic Marketing viking is committed to keeping up with technology changes, thereby gaining a competitive edge in the marketplace. Computers and other information systems are integrated to provide management information and time-saving tools. These include: E-mail systems Standard accounting software computer-based training Support is always available to answer system and software development questions, or provide programming solutions as new industry developments appear.
The viking Creative services Department is ready to meet those needs by providing everything from concepts and daddy design to printing and signage. They are experts in the process of creating and printing advertising, brochures, newsletters, business forms, stationery/business cards,. Materials, screen-printed clothing/merchandise, and weekly 4-color grocery insert mailers/circulars. Whether we need a bag stuffer, a new logo, billboard advertising, radio spots, tv commercials, or a video, their creative and professional team of associates and state-of-the-art printing equipment offer customers high-quality products in a timely and efficient manner. Market Segmentation seventy-three percent of our shoppers are female head of the households, 11 percent are male head of the households, 15 percent are both and 1 percent are other. Household Income: average weekly household spending ranges from 68 for shoppers earning under 15,000 to 118 for those earning more than 75,000 per year. Spending on groceries at the consumer's primary store also increases with income from 57 per week for those families earning 15,000 or less per year to 95 per week for those earning over 75,000.
Checks and all major credit cards will be accepted. A food stamp policy along with other policies will be in place. Start-up Summary Start-up costs will be financed through a combination of owner investment, short-term loans, and long-term borrowing. The start-up chart shows the distribution of financing. Start-up Plan Start-up Expenses Working Capital 100,000 Accounting 10,000 Legal (contingency) 15,000 Office supplies 15,000 Administrative consultants 75,000 building Repair Equipment 1,250,000 Insurance 55,000 roof Repairs 150,000 hvac installation 100,000 build Out 100,000 Electrical Repairs 75,000 Masonry/concrete 65,000 Expensed equipment 10,000 Flooring 42,000 Plumbing 79,000. 45,000 Asphalt 43,000 Architect 22,000 Engineer, Attorney 20,000 Project Management fee 50,000 Miscellaneous 0 Total Start-up Expense 2,456,000 Start-up Assets needed Cash Requirements 0 Start-up inventory 400,000 Other Short-term Assets 0 Total Short-term Assets 400,000 Long-term Assets 0 Total Assets 400,000 Total Start-up Requirements: 2,856,000. Market analysis summary by household size, grocery spending ranges from an average of 51 per week in one-person households to 130 per week in households of five or more. Per-person spending is inversely correlated with household size: per-person weekly expenditures are only 23 in households with five or more members but 35 in one-person homes, according to the the food Marketing Institute. To make our advertising and printing dollars work their smartest, we need a team that will work its hardest.
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Our store will be located at 3816 south Johnson Street, Springfield, missouri. This site will contribute to our success due to being formally used as a summary grocery store. Also a real estate company, viking Stores' market Space corporation is in business to offer buildings and properties for sale or lease. Their buildings can be converted to meet various business needs and offer prime locations and ample parking. Throughout Missouri, arkansas, and Illinois, they have existing improved properties as well as outparcels and land for sale.
Market Space corporation can provide demographic information on their locations to expedite any purchase transactions. Leasing is also an option. Both stand-alone buildings and tenant space within buildings where mall others businesses operate can be leased. Examples would include strip malls housing such operations as dry cleaners, video stores, hair salons, pizza shops, etc. Hours of Operation Store hours will be 7 days a week from 10:00.
This program also promotes loyalty for viking brand products. Viking Grocery StoresSpringfield will be part of viking Stores, Inc., a premier regional grocery/drugstore retailer and wholesale distributor based in Kansas City, missouri. As a result of five acquisitions since 1999, viking Stores, Inc., now owns and operates 113 supermarkets and 21 drugstores throughout Missouri and Illinois. Viking Stores, Inc., also distributes more than 40,000 private label and national brand products to more than 325 independently owned grocery stores in Missouri, illinois, and Arkansas and serves as wholesale distributor to 8,700 convenience stores in nine states throughout the midwest. Company history, at the end of 1917, a group of independent grocers discussed forming a cooperative to create buying power for group members.
In early 1918, 27 members incorporated the kansas City Grocery company, a name it kept until 1954 when the company became viking Stores, Inc., In 1959, the company produced its first private-label viking brand product—coffee. Although the company changed its cooperative status to "for profit status" in the early 1970s, the publicly held company did not become publicly traded on the nasdaq until August 2000 following viking Stores' merger with Morgan food Town. For the fiscal year ending March 25, 2000, viking Stores and Morgan food Town had combined revenues.8 billion,.2 billion of which was retail grocery sales. Company Ownership, the viking StoreSpringfield will be a corporation. Currently it will be owned and operated by jones Stewart and his investors. Location, we have located the ideal location for our operation.
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Advantage of Selling viking Brands, viking Stores' commitment to business quality over the presentation years has strengthened the integrity of the viking brand. Most private labels can't hold a candle to the quality of viking products. Viking Stores, Inc., regularly evaluates and audits the viking product mix to keep variety consistent with consumer wants and needs. An extensive line of over 2,000 viking products can be sold throughout your store— from the produce department to the health and beauty care aisle. An overwhelming acceptance of products bearing the viking name has made this brand one of the top sellers in the midwest. An established loyalty among customers keeps them buying viking brands. Offers customers a double-your-money-back guarantee which encourages them to buy with confidence. Allows the retail store to be part of a community contribution program.
This strong belief in people is the determining factor that motivates our operations in developing our relationship with our employees and customers. We believe that our responsibility for customer satisfaction is not focused solely on the sale of a product, but rather is the total relationship a customer experiences when interacting with our organization. We believe in honesty and truth in all transactions and in providing products of the highest quality and at fair prices. We should do everything possible to provide outstanding service in marketing the products we sell. Our philosophy of concern for people gives our viking Store the drive to be a good corporate citizen. We believe we have a responsibility to be a good neighbor in maintaining our property in first-class condition and by making the appearance of our plant, facilities, equipment, and grounds as attractive as possible, making them an asset to the communities that support our company. We at viking Store of Springfield, are resume committed to bringing you the best all-around shopping experience. Our nice pledge campaign includes an intense training session for all of our employees, and a firm understanding and commitment to deliver these pledge points at the viking Store in Springfield, missouri.
quality products and services in a cost-effective manner, enabling viking retailers to excel in serving their customers. If you're interested in being supplied by viking Stores, Inc., the initial, minimum objectives are: A clean environment in which to shop. A safe place to shop, value, great, friendly service, our shop will be good neighbors and will be involved in the community. Our store will be at least 25,000 square feet. Store will have minimum weekly retail sales of 75,000 which is equivalent to approximately 35,000 of purchases weekly at the wholesale level. Generate capital by leasing remaining space to two other business tenants. Mission, our most fundamental philosophy is the concern for people.
The investors will be treated as shareholders and therefore will not be liable for more than their personal investment. Owner Jones Stewart will contribute 70,000 (20,000 in sweat equity and 50,000 in cash) towards this business venture. The financing, in addition to the capital contributions from the owner and shareholders, will allow our store to successfully open and maintain operations through the year. A large initial capital investment will allow our store to provide its customers with a fully featured grocery proposal store. A unique, upscale, and innovative environment is required to provide the customer with an atmosphere that will inspire continued use. The successful operation of year one will provide our store with customers that will allow it to be self-sufficient in year two. The viking Store concept, as shown in our plan, has an excellent profitability level and growth rate. Our competitive edge, along with new retail techniques and technology, puts our store in the forefront of the retailing of perishable and nonperishable consumer goods.
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Photo by: gwimages, business plan viking grocery stores 3816 south Johnson Street, springfield, missouri 65802. This business plan is prepared to obtain joint financing in the amount of 2,746,000, to begin work on site preparation and modifications, purchase equipment, and to cover expenses in the first year of operations. We are seeking joint financing from our local Economic development Fund. Executive summary, company summary, products, market analysis summary, strategy implementation summary. Management summary, financial apple plan, appendix, executive summary, viking Grocery StoresSpringfield, will be located in the old Lloyd building, located at 3816 south Johnson Street, in the heart of Springfield, missouri. Viking StoresSpringfield, will be incorporated initially as a corporation. This will shield the owners and all other investors from issues of personal liability.