Rwt1 Bussiness Research
Business Research Report
New Product Line for Juice Bar
Presented to: WGU Assessment Code: RWT1 Student Name: Carol Wilson Student ID: 000219654 Date: February 22, 2013 Mentor Name: Christina Williams
Table of Contents
EXECUTIVE SUMMARY......................................................................................................................3
Introduction……………………………………………………………………………………………………………………………………………………5 Research findings .................................................................................................................................................. 6 FINDING NUMBER 1 (LEARNING YOUR MARKET) .........................................................................................6 Finding Number 2 (Market research)………………………………………………………………………………………………………………7 Finding Number 3 (Training & Operations) ............................................................................................................... 8
Recommendations…………………………………………………………………………………………………………………………………..9 Conclusions……………………………………………………………………………………………………………………………………………10 References……………………………………………………………………………………………………………………………………………11
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Executive Summary Here I have gathered a report to help the executives in my company to decide how we will go about expanding into a new juice bar business. We have a choice of buying a franchise for $80,000 which is a package deal. There are no concerns about recipes operational procedure or training. The down side would be exhausting our financial resources. Then there is the choice of developing a unique juice bar of our own with a start-up cost of $40,000. If we choose to develop our own we must take a close look at three major aspects. #1 Finance let us review the options I presented. Apply for grant funding and minimize the internal funding. Buying a franchise for double the money is unnecessary. Without proper funding choices in place, we could end up in debt. #2 Marketing how will we reach our target
New Product Line for Juice Bar
Presented to: WGU Assessment Code: RWT1 Student Name: Carol Wilson Student ID: 000219654 Date: February 22, 2013 Mentor Name: Christina Williams
Table of Contents
EXECUTIVE SUMMARY......................................................................................................................3
Introduction……………………………………………………………………………………………………………………………………………………5 Research findings .................................................................................................................................................. 6 FINDING NUMBER 1 (LEARNING YOUR MARKET) .........................................................................................6 Finding Number 2 (Market research)………………………………………………………………………………………………………………7 Finding Number 3 (Training & Operations) ............................................................................................................... 8
Recommendations…………………………………………………………………………………………………………………………………..9 Conclusions……………………………………………………………………………………………………………………………………………10 References……………………………………………………………………………………………………………………………………………11
2
Executive Summary Here I have gathered a report to help the executives in my company to decide how we will go about expanding into a new juice bar business. We have a choice of buying a franchise for $80,000 which is a package deal. There are no concerns about recipes operational procedure or training. The down side would be exhausting our financial resources. Then there is the choice of developing a unique juice bar of our own with a start-up cost of $40,000. If we choose to develop our own we must take a close look at three major aspects. #1 Finance let us review the options I presented. Apply for grant funding and minimize the internal funding. Buying a franchise for double the money is unnecessary. Without proper funding choices in place, we could end up in debt. #2 Marketing how will we reach our target
References: Works Cited Ballew, J. (2011, June 24). The top 7 disadvantages to buying a franchise. Retrieved from Bright hub: www.brighthub.com/office/entrepenuers/articles/38973.aspx Caplan, S. (1999). High Profit Financial Management for your small business. Chicago: Dearborn Financial Publishing,Inc. CMC, J. D. (1999). Marketing for the home based business. Holbrook: Adams media Corp. Cohan, P. S. (1957). Hungary start up strategy. Sanfransisco: Berrett-Koehleger. Golden, S. L. (1997). Secrets of Sucesssful Grantsmanship a Guerrilla guide to raising money. Jossey-Bass. Lacy, H. R. (2001). Financing your Business. Deerfield Beach: Made E-Z Products Inc. Ostrowski, S. (2012, April). Smart Business Cleveland. How to grow your business using market research , p. 1. PH.D., D. K. (1994). Avoiding mistakes in your small business profiting from the experiences of others. Crisp Publications. Rice, C. S. (1990). Trategic Planning for the small business. Holbrook: Bob Adams,Inc. Scott, C. (2011). The benefits of market research. Retrieved from Ezine Articles: http://EzineArticles.com/?export=Colin_Scott 12