ENG 1272 Portfolio REDD

MEMO FINAL

Thurl Redd

ENG 1272

01/05/2021

MEMORANDUM

To: The Director of Truth Industries, Klaus Michaelson

From: CPA-K, Jack Sparrow

Date: December 4, 2020

Subject: To Seek Financial Support

This is to seek financial aid to start a fast-food business at the university grounds and provide my business analysis to support my decision to start a fast-food business. I have been studying for a Bachelor of Commerce at Birmingham University for the past four years. I plan to use the knowledge and skills learned at the university to venture into business and raise the standards of people living within the university area.

Market Trends

Birmingham University hosts many students who greatly depend on fast foods because fast foods are convenient to them as they juggle between classes creating a high demand for fast foods and preference for affordable delicacies like chips and soda. There is a high demand for fast foods from the university’s staff members and local people who work or live close to the institution because there is no fast food business around. Starting a fast food business could help fill this market gap and meet the students, staff members, and locals' demands.

Opportunities and staffing

My business plan is to operate the fast foods business during weekdays from 10:00 a.m. to 9:00 p.m., and I will need people to help me with sales and deliveries. I have seen an opportunity to employ students to help with running my business because not only will they earn some extra income to pay for their utilities but also help market our products at the campus and ensure that all our orders have been sold. With the students' help, it will be easier to identify products they desire and expand my business by selling them these other products.

Expected challenges

The business will only be operational during academic months meaning that it will be closed during holidays due to low sales. My strategy to address this challenge is to maximize profits during academic months and ensure optimization of resources. The business is likely to face the pricing challenge. Students prefer affordable products, and to address this challenge, we will lower our products' prices to a fair price for both the consumers and us. The profit margin per product will be low, and we will have to sell many units to get more profits.

I believe this is a profitable business venture with promising benefits for everyone. I look forward to hearing from you and doing business with you.

Thank you,

Jack Sparrow