Home Marketing Bubble Tea Business Plan For USA Market

Bubble Tea Business Plan For USA Market

by admin
56 views

Executive Summary

Picky tea is a restaurant firm that has gained customers’ loyalty in the United States of America. The company is established to provide high-quality tea and other flavours to customers in public catering places and within our esteemed premises. The company has contracted a customised truck that aids in carrying foods to the client in public places to make it convenient for faster and efficient services delivery to nearby and distant customers. The company is located strategically for the customers to visit it at any time of the day. The location makes the restaurant ideally accessible by target employees and customers from a different region. The target market for the company includes business regulars, students, children, students, and travellers. The marketing strategies that boost Picky Tea awareness among employees combine various styles to enhance maximum attraction to customers, including radio to Advertisement Company’s products and use of Facebook to create awareness of critical commodities offered by the company. The company intends to expand its operational plans since it has created a strong relationship with employees. Incorporating technology such as Point of sale machines, shakers, electric induction heater, tea jobs, and sugar dispensers enables business operations to be effective in its operations.

Bubble Tea Business Plan For USA Market

The Company

Picky tea is a restaurant industry established to provide services in beverages to customers. The company sells bubble tea, a substitute for traditional tea, which provides an excellent experience to esteemed customers. The services provided meet quality standards and ensure that clients are in health conditions. 

Products and Services

The company’s main products and services include Tapioca pearls, syrups, Bubble tea recipes, a variety of flavours such as milk tea, fruit tea, and blended tea. Typical services provided in the company are a provider of consultancy services, franchise, and training. 

The company aims to provide top-notch services and high-quality products which meet the high expectation of the customers. The company engages in research and development, enabling it to get the best blend of tea that spicy the customers’ demand. 

Vision Statement

Providing high-quality tea and services will attract the attention of American customers. 

Mission Statement

To serve clients in all dimension transparently and honestly.

Objectives and goals of Picky Tea

To ensure that the company provides quality services to the clients at all time. It aims to increase sales of bubble tea in the United States by increasing marketing strategies to attract more customers to the company’s products. Strategically enhance its branding to lure more customers to the company. To cut down to operation cost of the company to increase revenue collections.

Business Structure

The Picky Tea firm’s business structure is well structured to ensure efficiency in service delivery to clients and compete favourably in the market environment. The business structure is aligned with the objectives of the organisation and its goals. The firm’s business operations are well structured to ensure maximum service delivery to clients efficiently and comfortably (A Sample Bubble Tea Shop Business Plan Template, n.d.). The structure of the business organisation is well decorated to attract more clients for the beautiful sceneries. The foundation right of the Picky Tea is to ensure that they compete favourably. However, it has a competitive advantage since it has experienced and competent employees. The restaurant has staffs who understand the line of duties. They perform chores exemplary. The business operations are structured under the leadership and directions of the people in the society. The business structure for Picky Tea Company is organised in the following form.

The company has Chief Executive Officer (CEO), Quality Assurance Manager, Purchasing Manager, Human Resource and Admin Manager, Accountant/ cashier, Inventory manager, marketing and sales team, customer services executives, store manager, truck drivers, and cleaners. The group provides services to the organisation to ensure effective operations (Hutchinson & Purcell, 2010).  

Roles and Responsibilities

Chief Executive Officer

CEO is in charge of the operation of Picky Tea Company. The CEO discipline managers when they engage in suspicious activities that degrade organisation standards. The CEO also communicates strategies, values, and objectives to the junior employee (Hutchinson & Purcell, 2010). 

The CEO oversees accountabilities in business operations such as monitoring, planning and job appraisal. To engage in the signing of business deals of the organisation and provide directions on some essential aspects of the organisation. They develop incentives for the employees hence create a mechanism of motivating them to work very hard. CEO is responsible for fixing the price of the product sold in the company.

Quality Assurance officer

He is responsible for the hygienic condition of the company. Assess and ensure that the restaurant adheres to regulations and rules of hygiene. Ensure that low-quality ingredient are not purchased into the organisation

Human Resource and Admin Manager

They are responsible for recruiting, selecting, providing orientation to new staff, training new staff, counselling, and coaching. Oversee operational functions in the department are operating smoothly. They undertake a performance appraisal of employees in the company.

Purchasing Manager 

He is responsible for looking for a reliable customer who supplies commodities to the Picky Tea. Reviews supplies contracts in the organisation. He ensures that supplies are paid by the accountant timely. 

Accountant/ Cashier

An accountant prepares the financial reports such as cash flow, financial position statement, and income statement for the organisation. The words are helpful, especially in the making of decisions. In charge of filing the tax return on behalf of the Picky Tea organisation. An accountant is solely responsible for preparing payrolls for the employees in the organisation.

Inventory Manager

He organises for the purchase of ingredient when they are exhausted in the store. He keeps records of the supplies and secures ingredients since he is accountable for the activities which undertake place in the organisation. 

Store Manager

Ensures that stores are secure at all time. In charge of issuance of the ingredient from the stores to cooks to use in the preparation of tea. Ensures that ventilation in the store is adequate and makes sure the environment is conducive for business operations. 

Marketing Manager and Sales Team

They conduct market research to determine the viability of the business venture. The process helps the organisation retain potential clients in the organisation and attraction of new clients to purchase the commodities in the Picky Tea firm.

They place ads on electronic, print and social media on behalf of Picky Tea firm. The adverts are aimed to create business awareness among potential client on the existence of particular products in the organisation. Public awareness is promoted through the marketing team working in conjunctions with management to ensure the organisation’s success.

Customers Service Executives

They provide relevant information needed by clients concerning products offered in the organisation. They are responsible for responding to all queries raised by the client concerning terms of service and price charged on their products. They respond to complaints raised by the customer concerning the state of service provided in the organisation.

They are in charge of updating relevant information on the restaurant menu, and they provide advice pertinent to new clients on how they can get services from the organisation. 

Truck Drivers

They are contracted to provide services in a public gathering where they are in charge of catering. They maintain vehicles through regular clean up and manage their operations. 

Cleaners 

  • They ensure that the firm and its premises are kept tight at all times.
  • They provide any other services needed by the firm.
  • They ensure that there are adequate supplies for cleaning purposes.

The Industry

The industry’s analysis entails the critical evaluation of its operations regarding strength and weakness, which emanates from the internal process and external research on opportunities available for any potential threat to its growth. The information provides insight into internal operations, which directly influence the performance of the company. A SWOT analysis is a critical tool that provides an overview of its operational strength and weakness. The information helps Picky Tea Company’s manager establish strategies that help maximise the organisation’s wealth and profit in general.

SWOT Analysis

Pick tea is one of the businesses that can utilise resources available to enhance their performance in general. They need to delve into areas where there is a potential market and capitalise on regaining a high return to business operations. The business consultant uses SWOT analysis to determine areas where they need to improve on it. The information helps management plan on how to finance sectors of the organisation that have many challenges. 

Strengths of Picky Tea

The company has a strong distribution channel which enhances its operations. The track ensures that the distribution of bubbles teas to public catering is done appropriately. Distribution through channels improves access to more client, especially those that are in remote areas. The process enables an increase in revenue to the organisation from the profit generated by looking for broader markets.

The organisation enjoys services of the competent employees who are dedicated to their respective works. This makes clients prefer resting in the company and doing shopping hence increasing sales in the organisation. Apart from employees, owners have great experience in filed management. 

Weakness

The identity of bubble tea has not gained popularity among American people; hence market segment will below. The new client’s attraction will require a lot of time to convince them to accept a new brand as most people are used to coffee rather than tea. There is a lack of a proper accounting system in the organisation, which affects business operations.

Opportunities

The company builds on its brand to create an everlasting identity among current and attraction of new customers. It engages in research and development to innovate new products which have quality. The new brand aims to attract more investor and partners from a global perspective.

Threats 

The main threat to business is competition from a new entrant into the market sector. There is an emerging restaurant that increases competition on the available customers. Therefore the company is supposed to viciously marketing strategies to grow its market base. The company has devised strategies that will enable them to face threats more prudently. Adopting a positive approach to the issues is the primary cause of the business’s ability to continue its operations.

Market Analysis

Market analysis entails analysis of the target market, trends in the market, competitive advantage and strategies which the company can incorporate in its operating system.

Market Trends

Customers are more concerned about the product they consume (Customer-Behavior and Market-Response Models, n.d.). They prefer commodities that have fewer chemicals since they won’t harm their immune system. Some products chosen include fresh fruit juices, milk, and smoothies. The companies are adopting strategies that can incorporate such development in their production line. Bubble teas need to be proactive, engaging in market analysis on trends on consumer taste and preferences. Knowing the market trend enables an organisation to plan how they need to produce products and sectors to make some changes. 

The Picky Tea firm takes advantages of advanced technology to maximise access to more clients by advertising on Facebooks, Twitter, Instagram, and Skype. The platform creates a potential place where more clients can be accessed. The company should adopt mobile phone apps to make their advertisement on the recipe offered by the organisation.

There is an increasing trend among clients where they prefer to make bubble teas in their homes. Therefore the organisation can organise how to sell the package to those clients who choose such a mechanism. The company needs to be proactive and stay ahead of its competitors.

Target Market

Bubble tea is a product that many customers prefer across the market segment in America. This is the product that meets health condition standards. Most clients are increasingly focusing on the commodities which enhance the health status of people. The following group of people are the main focus potential target by the company. They are students, households, young professionals, business people, celebrities, young adults, corporate executives, sportsmen, and women. 

Picky Tea Company has established a good relationship with the client, enabling them to engage in unique selling proposing in which they can focus on a health approach in selling the commodities to the clients.

The company’s strategies in influencing more customers to purchase from the Picky Tea include offering loyalty rewards, provision discounts on the products, coupons, and setting deadlines that the organisation needs to achieve within a specified time.

Competitive Advantage

Pick Tea main objective to ensure it is a preferred business centre where customers obtain bubble tea. The company is unique among the competitors since it is strategically located with competent and skilled workers who make the company provide faster and efficient service to its clients.

The organisation churns recipe regularly so that they can meet the specific taste and preferences of the customers. It also boasts excellent service delivery to the clients, making it an attractive destination where customers come to quench their thirst. 

Sales and Marketing Strategies

The company applies various strategies to attract more customers by organising free sampling days to market products to potential clients. The organisation needs to understand its taste and preference as it will help determine customers’ choices.

They organise an event where the customer service executives are invited to talk about its services and product. The strategies aim to create awareness of the products which exist in the company.

The company increases the use of social media platforms to make the advertisement and get a referral from loyal customers. A variety of strategies are applied to ensure the success of the business. The sales team need to comprehend customers’ perception of products and what they prefer most. 

Publicity and Advertising Strategies

Increase in the level of advertisements such as magazines and newspapers to promote Pick Tea firm’s activities. Publicity helps to increase the marketability of the company’s products. Advertising aims to raise awareness of the company.

Creating a unique logo for identifying the company that guides customers on specific locations where they can obtain products is a perfect way of publicising the company.

Pricing Strategy

There are several considerations which the company needs to evaluate when setting up the price of the commodities which they provide to customers. It should be about quantity quality and whether the amount raised will meet the expenses of business operations and generate a profit on all transactions (Myrna, 2010). The attractions option to lure more customers, the organisation considers providing a discount on some products and services offered on the premises. The price charged on commodities should be averagely pocket-friendly to customers. High prices discourage customers from purchasing from your firm. Hence it should be considerations that price should be within the income level of their consumers. 

Payment Options

The customers can use conventional methods for them by choosing payment options available on the company portal. They can pay using cheques, payment via PayPal, amount via Point of Sale (POS) machines, or pay via credit card. 

Organisation

Pick Tea’s organisational structure is subdivided into the division to enhance the firm’s general performance. Division of labour makes the operation in the organisation to be more efficient. The organisation encourages teamwork among employees to achieve the common goal and objective of the Pity Tea firm. The unique feature of the organisation structure is to ensure the flow of work is efficient.

Financial Plan

Income Statement

Income statement projection for three years

PRO FORMA PROFIT AND LOSS
Year 1 year 2 Year 3
Sales 86891 128000 147090
Direct Cost of Sales 6951 10240 11767
Other Production Expenses 0 0 0
TOTAL COST OF SALES 93842 138240 158857
Gross Margin 79940 0 0
Gross Margin % 92% 92% 92%
Expenses
Payroll 63120 67000 72000
Sales and Marketing and Other Expenses 1200 1200 1200
Depreciation 456 456 456
Rent 18000 18000 18000
Insurance 1800 1800 1800
Payroll Taxes 9468 10050 10800
Total Operating Expenses 94044 98506 104256
Profit Before Interest and Taxes -14104 19254 31067
EBITDA -13648 19710 31523
Interest Expense 0 0 0
Taxes Incurred 0 5776 9320
Net Profit -14104 13478 21747
Net Profit/Sales -16.23% 10.53% 14.78%

Balance sheet

Balance sheet statement projections

Projected Balance Sheet
Pro- Forma Balance Sheet
Year Year 1 Year 2
Assets 0 0 0
Current Assets
Cash 8429 22954 45635
Other Current Assets 0 0 0
TOTAL CURRENT ASSETS 8429 22954 45635
Long-term Assets
Long-term Assets 2300 2300 2300
Accumulated Depreciation 456 912 1368
TOTAL LONG-TERM ASSETS 1844 1388 932
TOTAL ASSETS 10273 24342 46567
Liabilities and Capital Year 1 Month 1 Month 2
Current Liabilities
Accounts Payable 3277 3868 4347
Current Borrowing 0 0 0
Other Current Liabilities 0 0 0
SUBTOTAL CURRENT LIABILITIES 3277 3868 4347
Long-term Liabilities 0 0 0
TOTAL LIABILITIES 3277 3868 4347
Paid-in Capital 22000 22000 22000
Retained Earnings -900 -15004 -1526
Earnings -14104 13478 21747
TOTAL CAPITAL 6996 20474 42221
TOTAL LIABILITIES AND CAPITAL 10273 24342 46568
Net Worth 6996 20474 42220
References;
  • A Sample Bubble Tea Shop Business Plan Template. (n.d.). Retrieved December 13, 2018, from https://www.profitableventure.com/bubble-tea-shop-business-plan/
  • Customer-Behavior and Market-Response Models. (n.d.). The Theory and Practice of Revenue Management International Series in Operations Research & Management Science,301-331. doi:10.1007/1-4020-7933-8_7
  • Hutchinson, S., & Purcell, J. (2010). Managing ward managers for roles in HRM in the NHS: Overworked and under-resourced. Human Resource Management Journal,20(4), 357-            374. doi:10.1111/j.1748-8583.2010.00141.x
  • Myrna, J. (2010). Does your pricing hide your companys true value to customers? Business  Strategy Series,11(6), 383-386. doi:10.1108/17515631011093089

related articles

Leave a Comment