Sarrica’s Market, a new business in downtown Moab is located in Utah. The store offers an international grocery and delicatessen experience. It will house a sixteen-person dining area, a kitchen with counter and check out, a grocery/gift area, as well as a public restroom.
Sarrica’â€™s marketâ€™s mission it to provide Moab, Utah’s residents and visitors with a blend of quality, genuine, hard-to find grocery items and prepared food. With good service and a pleasant environment with the feel of an Old World outdoor marketplace, Sarrica’â€™s Market aims to be a welcoming place with the warmth and charm of an Old World outdoor market. Our store motto is, “eat and enjoy.”
The deli will offer sandwiches, salads and specialty drinks as well as picnic lunches. Gift items will complement the international theme of the store and include a limited selection of kitchen wares, cookbooks, picnic items, and original hand-sewn items and jewelry. Gift baskets will also be available in the store and over the internet. All recipes in the deli will highlight grocery items sold at the market.
The gourmet and specialty food market is growing across the country. Consumers are looking for quality food coupled with a quality shopping experience. Many cities have whole sections dedicated specifically to ethnic foods or culture. Rural America is moving away from agriculture and natural resource, and toward tourism as its main source of income, so more people are choosing to live in Moab. These new populations are starved for the fine ingredients they were able to purchase in big cities and are looking for a rural solution to this problem. Many Moab’s residents, as well as visitors, have expressed a desire to own a local gourmet food shop.
Sarrica’s Market has formed alliances with local farms and restaurants as well as international distributors to offer its customers a mix of ‘#8220/shopping local’ and a wide range of gourmet products previously unavailable in this highly-visited rural area. Sarrica’s is more convenient for residents than ordering online and lugging expensive groceries back from distant cities (several hour away), especially in winter.
Sarrica’s projections for net profits rising over the first three year is a good indicator. This is partly due to the expectation that seasonal fluctuations in sales will diminish as we increase our local client base. These forecasts are based upon the performance of comparable cross-market upscale shops in Moab and general trends within the gourmet food store industry.
Sarrica’â€™s Market has contributed $24,000, and is seeking a $100,000 business loan. These loans are for startup costs. The loan will be repaid through the cash flow of business in five year.
The mission of Sarrica’s Market is to provide Moab, Utah’s residents and visitors with an upscale grocery store, gift shop, and delicatessen specializing in a combination of quality, authentic, hard to find, grocery items from around the world.
1.2 Goals and Objectives
The following are the goals and objectives of Sarrica’s Market:
- Get the necessary financing ($24,000 in personal/investor loans and $100,000 in small-business administration loans).
- You can build a service-based organization that exceeds customers’ expectations and increases repeat client service by at least 20% per annum through superior performance.
- Your community will be a well-known destination, with an average customer satisfaction rate of 90% within the first year.
- By the end, you will be cash flow independent.
- Sales of $461900 were achieved in the first year. They increased to $484735 in the second and $508,000 in their third years.
- Allow the founders to earn an income by the end the second year.
- Repay the original loan debt by the end if the fifth year.
1.3 Keys for Success
Sarrica’s Market has the following key ingredients to its success:
- Reputation: Every customer who visits our store will return to us and recommend us to friends and family.
Word of mouth marketing will be a powerful ally for our business.