Question
Can you write marketing plan for hot smokin BBQ suace. this is for business plan VII. Marketing Plan A. Pricing B. Distribution C. Promotion D.
Can you write marketing plan for hot smokin BBQ suace. this is for business plan
VII. Marketing Plan
A. Pricing
B. Distribution
C. Promotion
D. Product forecasts
E. Controls
Brief Description
Cruz BBQ sauce is the best around. His special ingredients make up just the right mouthwatering taste for even the pickiest palate. Everyone who has tried his special sauces, and just cant get enough! Also, his slow cooked pulled pork, brisket, and smoked chicken are made with just the right cut of meat and a talent for special rubs that stand out above the rest. He has won over eaters of all ages and different cultures alike.
We will have two small businesses. The first business is bottling the two types of sauces. The second is to invest in a food truck business in the heart of Austin, TX. The city that keeps it weird is one of the best places for entrepreneurs to succeed. We have picked the perfect spot on Congress Street, a corner of many food trucks with unique types of food choices and SmokinHot BBQ is the missing link. It will be a hot spot for hip millennias, and college students, as well as the seasoned locals to grab a mouthwatering, bite to eat. I know this will be a bigger success than it already is!
a) What customer problem(s) are you solving?
Providing a choice of BBQ food via food truck, a choice not already established in that food truck populated area. It has a great, unique taste, fulfilling, and convenient for the fast, on-the-go customer that is tired of fast food restaurants.
b) Is there a demand for the product or service?
Yes,there is absolutely a demand for barbecue in Austin, Texas. According to an article on The Growth of Texas BBQ, our state leads the nation with 2238 barbecue restaurants and 1931 independent locations. It is higher than California and Florida, the other two top states with the highest population in the country. Texas has one barbecue restaurant (per capita) for roughly every 12,000 people. Austin is known for the park-and-eat experience. Therefore, a BBQ food truck would be just the right business to keep up with the on-going demand for Texas barbecue.
c) Who is the most likely customer? Create a customer profile describe the customer using demographics, Geographics, or psychographics.
Demographics - Millennials (20s 30s), college students, single, young professionals, as well as middle aged and older locals looking for convenient meal that is fast, affordable, and great tasting. The income range of our customers is: mainly $25,000k 100,000k annually.
Geographic Locals from Austin, and Tourists. Austin is a major college town and has a large business sector creating the need for restaurants which means more employees needed for the area. Downtown Austin Sixth street and South Congress are popular hot spots where the locals and tourists alike will congregate socially and for employment.
Psychographics Lifestyle & Type: Local hangout area for millennials. Tourists looking for the food truck experience while browsing the Congress Street strip. Older locals from the area looking for the convenience & unique taste for a quick stop pick up.
d) How many customers who fit the customer profile are in the target market area?
Note: you need specific numbers of potential customers.
The population is 931k in the zip code of the business. Amongst those in the Zip over 5 years of age, Whites, Blacks and Hispanics known to eat Bar B Que. Being down south and Texas BBQ is a common item for households on weekly basis. The Truck will be located in the park called the Panic which is direct walk able and short drive access to 1700 households. The Typical customer through my research from other truck owners in the park and stats given by them are of the age 20s to mid 30, Parents with children in the surrounding area . Also the park averages 1200 people per day. Also to survive the truck and most trucks would need 100-120 customers / day. And good profit days would typically be 300-350 customers a day. Rainy days need to be accounted for because those days usually trucks are not open , also have to be sure to cut as much overhead/operating cost possible during those days
e) Is there competition? Who? Where are they located? What are their strengths and weaknesses?
We will be located in the 78701 zip code and yes there is competition. The Food truck park will be in will have 20-30 direct competing trucks. To name a few of the competitors: Torchy Tacos, Burro Cheese Kitchen (gourmet grilled cheese place), Pitalicious (Mediterranean), and El Paisa. Also within a 3 miles radius there are 60-70 food trucks to choose from, but with that said Austin itself is said to run off of food trucks . Some weaknesses of competition may vary, from uniqueness/ niche menus, service, and marketing techniques. Also, there are many of the same concepts and genres of food that does not separate some individual trucks making easy substitutes.
f) Why would a customer purchase our product or service? (What gives it more value than the competition?
Smokin Hot BBQ would be the only Bar B que serving truck in the Park. We make an already desirable Homemade Sauce and out of this world very slow smoked pulled pork and Brisket. Our process, cuts of meat and taste sets us apart from so many other trucks trying to duplicate. Also we would provide a customer first culture to ensure a vibrant, warm and friendly environment. Service, service, and great food!
| The partners for our business is very important to have to be able to have success in this business. Since the BBQ sauce is the main part of our food, then we need to have a partnership with the creator. We need to get partnerships with drink companies, like coca cola. Also we could work on getting a liquor license, to be able to sell beer. The bankers are some as well because we will most likely have to get a loan for start up cost. | The production of the famous BBQ sauce is the special touch we give our food to separate it from the others. Our fresh food mixed with the special sauce can not be matched. This food truck will handle all situations that come our way with the most care and concern for the company and the customers. The team will have training in customer service to make sure everything can run smoothly. Our platform will be to have the freshest and the best tasting food anyone has every had, from a food truck or a restaurant. Keeping our customers happy, building relationships and keeping them coming back is our umber one goal. | Core values * Unique value over competitors * Quality & quantity of the products * Consistency in the taste of the BBQ sauce * Preservation period for the sauce * Certifications by popular food places, sauce in their cuisines * Effective offering from competitors products Customer Satisfaction * Effective price of bottling BBQ sauce * The ingredient for easy cooking for dishes involving BBQ sauce * Easy to handle and recyclable bottle for BBQ sauce | Target Customers * Customer Relationship of the organization will develop with its various customer verticals * Communicate with its customers through people * Developing relationships by the finest quality of the products with flavor * Various quantity of bottling BBQ sauce | Demographics Mass Market Potential customers: * Young professionals * Tech sector employees * College & high school students * Tourist visiting the historic and music districts Geographies * Professionals/ Downtown * Tech sector employees/ Austin and surrounding areas * Locals & visiting tourist Psychographics: * Mass Market, 16-80 years of age | |
| Key Resources | Channels | ||||
| For our physical resources we need a the truck, cooking supplies,that includes the grills burners and the food. In the intellectual category, we have to patten the BBQ sauce and with that we will need to have a partnership with the maker of that sauce, since that is the main part of our food. The human category we need employees to do things when we are not at the food truck. We need a couple cooks. A couple of people working the front and could have one greeting people. making sure anyone outside eating doesn't need anything. One of the most important part is the financial part. We need to get with a bank to help us with start up cost, which will most likely include, a truck grills, burners and utensils. | Reaching Customers * Propagate its value proposition to its targeted customers via different channels * Effective channels will help to distribute a companys value propositions that are fast, efficient and cost effective * Identification of the effective reach to the customers in an important aspect of positioning the product * Sale of BBQ sauce bottles in food retail stores & restaurants for pick up * Selling on line as well may be customer do not have to go store. | ||||
| Costs | Revenue Sources | ||||
| * Cost Driven Model with Fixed Menu Costs/Low Variable Costs | * Revenue Streams: One Time & Recurring * Pricing Mechanisms: Fixed & Dynamic * Sales: Retail/Wholesale * Pricing Mechanisms: Fixed & Dynamic | ||||
| Startup Statements - Smokin' Hot BBQ | ||||||||||
| Sources and Uses | Capital Equipment List | |||||||||
| Sources of funds | ||||||||||
| Personal Funds | 23,700 | 5 year | Year 0 | Value at the end of year 1 | ||||||
| SBA 7(a) loan | 100,000 | Computer and software/website | 2,500 | 2,000 | ||||||
| Total Sources | 123,700 | iPad POS | 1,000 | 750 | ||||||
| Telephones | 500 | 400 | ||||||||
| Food Truck | 60,000 | 50,000 | ||||||||
| Uses of funds | Signage | 2,000 | 1,600 | |||||||
| Retrofitted Food Truck | 60,000 | Total 5 year | 66,000 | 54,750 | ||||||
| Kitchen Supplies | 2,200 | $ 1100 depreciation per month | ||||||||
| Ingredients | 2,000 | 7 year | ||||||||
| Packaging | 3,000 | Furniture | 3,000 | 2,500 | ||||||
| Vehicle - maintenance | 500 | Kitchen equipment | 4,200 | 3,500 | ||||||
| Startup expenses | 51,000 | Total 7 year | 7,200 | 6,000 | ||||||
| Working capital (cash) | 5,000 | $86 depreciation per month | ||||||||
| 15 year | ||||||||||
| Total uses | 123,700 | Remodeling | 10,000 | 9,000 | ||||||
| Total 15 year | 10,000 | |||||||||
| $56 depreciation per month | ||||||||||
| $1242 depreciation per month | ||||||||||
| Startup Expenses | ||||||||||
| Facilities | ||||||||||
| Initial rent | 2,000 | |||||||||
| Deposits | 2,500 | |||||||||
| Improvements | 1,000 | |||||||||
| Equipment | ||||||||||
| Outdoor Furniture | 3,000 | |||||||||
| Kitchen equipment | 4,200 | |||||||||
| Computers/software | 1,000 | |||||||||
| ipad POS | 1,000 | |||||||||
| Telephones | 500 | |||||||||
| Vehicles | 14,000 | |||||||||
| Signage | 2,000 | |||||||||
| Other | 2,000 | |||||||||
| Materials | ||||||||||
| Starting Inventory | 1,000 | |||||||||
| Office supplies | 300 | |||||||||
| Marketing expenses | 3,000 | |||||||||
| Other | 500 | |||||||||
| Fees and other costs | ||||||||||
| Licenses/Permits/Patents | 2,500 | |||||||||
| Accounting | 500 | |||||||||
| Legal | 1,000 | |||||||||
| Insurance | 1,000 | |||||||||
| Website | 500 | |||||||||
| Other | 500 | |||||||||
| Starting salaries | 2,100 | |||||||||
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