People’s News will be a new, small chain of newsagent kiosks located in Chinatown, New York City. In 2010, the company will launch subway newsstands that sell both English-language and Chinese language periodicals. They also offer drinks and snacks suitable for both markets. Chinatown residents, commuters as well tourists and residents are all welcome to shop and visit the Chinatown newsstand. Chinatown is an area that offers both shopping and tourism for residents and those who live in NYC. People’s News, named after the People’s Republic of China is a news outlet that will offer customers a taste of products and periodicals from mainland China. It will also help to introduce Chinese immigrants to American publications and provide better service to English-speaking customers. Hui Kao and Zhi Kao will manage People’s News. They were previously shop owners in China.

People’s News will sell the following products at its kiosk locations: Chinese magazines and newspapers, Chinese-American magazines and newspapers, American magazines and newspapers, refrigerated beverages, snacks, and candy. There will be daily and weekly newspapers, as well weekly and monthly magazines.

While the business will incur a small loss its first year of operation, it will utilize its positive cashflows in its second and third year to expand to at least three stores within three consecutive years. In addition to providing steady income for Hui (Zhi Kao) and two other relatives or employees, Zhi Kao will be making a significant profit. When three stores are open, revenue is expected to surpass $700,000.

Objectives

People’s News will achieve the following objectives within its first three years of existence:

• Set up three stores
• >Provide full time employment for four people (ideally family members)
• Achieve revenues of $700,000.

Mission

People’s News’s goal is to develop a loyal customer base. The company sells Chinese and American magazines, newspapers, snacks, candy, and drinks to New York City residents. The company will remain family-owned and operated, create steady incomes for family members, and provide employment for as many Kao family members as possible. The business will increase cultural awareness in two ways: by offering Chinese-American residents greater exposure to American products and periodicals than they can get at other Chinatown newsstands and by offering non-Chinese customers recommendations on Chinese and Chinese-American products and periodicals.

Keys to Success

The key to success in the newsstand or newsagent business are:

• The stands should be located in high traffic areas
• We offer delicious snacks and beverages, as well reading material for customers who are about to travel by bus or subway.
• Earning better prices from suppliers through greater volume (expanding to additional locations and centralizing purchasing)

People’s News believes its success will be based on the fact that all employees can speak English and Mandarin (or English, Mandarin and Cantonese if possible).