UPer Crust Pies will be a specialist in meat, vegetable, or fruit pies using traditional family recipes from the Upper Peninsula of Michigan. Our pies, which are freshly baked every day, will be sold hot directly to our customers at our retail stores. Frozen pies will be available in both lunch and family sizes. They can also be prepared at home using an oven or microwave. Our products contain low fat, no genetically modified ingredient and are complemented by a wide selection of premium salads and desserts.
Our products are imported directly from a private-label bakery in the UP to save on labor costs, investment in production equipment and additional warehousing. The main costs of our products will be minimal, including shipping, cold storage and product purchase.
We have plans to expand the company through further retail outlets and are focused on developing a business model that is favorable to franchise possibilities. With an exclusive import license that could be used to sell frozen product through supermarkets and bulk wholesale food chains, UPer Crust Pies could quickly and clearly establish itself as the market leader.
We have identified four key ingredients to our success. First, we need to make sure that our stores are located in prominent locations. The second is our unique value-for–money product line. The third is a focus on superior customer services and education. Finally, the fourth key to employee retention will be training and internal promotion.
Yubetchatown is where the first UPer Crust Pies location will be located. At the moment, there are three locations being considered. UPer Crust Pies will target three market segments within the core metro district. Our largest market is young adults and businesspeople (42%). Our next largest target market and one with greatest growth potential is families who have children (36%). Our last target market will be those aged 15-24, which also includes students (22%).
Our marketing strategy will attract new customers, educate them and then build a loyal customer base. The marketing strategy for UPer Crust Pies is to attract customers through high-visibility signage, flyers, media advertising, flyers entertainment book coupons, word of mouth advertising and strategic alliances.
We believe in a culture of happiness and promoting employees who enjoy their work. We will assess every aspect of the business, interact with our customers and evaluate their preferences.
UPer Crust Pies Limited Liability Company. All membership shares are currently owned by Lina and Olie Mackinac-Gogebic, with the intent of using a portion of shares to raise capital. UPer Crust Pies currently seeks a bank loan along with a private investment contribution from outside investors. Three months before opening, the majority of these funds are used for corporate design and remodeling. Lease payments will also be made.
Costs associated with starting a store include initial inventory and shipping. It is necessary to purchase equipment such as pie warmers, ambient display case, fridges, freezers, miscellaneous furnishings, and a commercial oven. In addition, UPer Crust Pies anticipates the need for liquid cash for operating expenses, unforseen expenses and to help cover wages for the first three months of business.
UPer Crust Pies projects a modest rate of growth for the first year. The company will open two additional stores in the second year and two more in the third. The gross revenue will rise in the second and the third years due to the addition of these stores. We have projected a very conservative growth rate in the first three years, compared to industry standards.
1.1 Objectives
- Achieve first year sales above $120,000.
- A healthy average gross margin is important.
- Develop a business model that is favorable to expansion.
- Establish five stores by the third anniversary.
1.2 Mission
Education and customer satisfaction are our top priorities. We will work hard to provide exceptional customer service, consistent product delivery, and a pleasant and comfortable environment.
We aim to make a fair and responsible profit that will keep the company financially sound and allow for continued growth and development. Responsible profit will fairly compensate investors and owners for their risk, and reward employees’ hard work, loyalty, and commitment.
Our success is dependent on employee welfare, participation, training, and other aspects. Everyone will be treated honestly, with dignity, and with the utmost respect. It is our responsibility to provide employees with a friendly, comfortable and challenging work environment with opportunities for growth and development.
1.3 Keys for Success
- Locations: Visibility, high traffic patterns and convenient access.
- Store design: visually appealing, relaxing atmosphere, efficient operations, and quick.
- Unique products: differentiation, competitive pricing, no direct competition.
- Quality Controls: Genetically modified free policy, consistency and clean presentation.
- Service: friendly, professional and informative.
- Marketing: positive image, educational, word-of-mouth advertising.
- Training, ongoing education, and recognition programs are all ways to retain employees.