Module 06 Business Plan Project - Final Business Plan/Executive Summary

TopTaste Fast Foods

At the TopTaste Fast Foods sells human consumable foods and food related services. Some of the foods that we sell include ice creams, salad, delicious burgers and fries. Charging for the product depends on the quantity measure for each package. For instance, 100 grams of ice cream will cost $1. This will vary with regard to the quantity being packed for sale. However we believe that we can attract thousands and hundreds of thousands of customers in our business in a single year. It is important to note that the said customers might be repetitive and as such the number of times they can shop from our premises can be totaled to a good figure in that singe year, probably a total of billion times in a year. This means that millions of our products will have been sold indicating that we will have good cash at the end of the financial year. In this regard, the projected sales revenue from our business in a year is expected to be $2,700,000.

Cost estimation

Owing to the fact that we intent to provide quality foods and services, a reasonable cost is expected from our operations in this year. Both the goods sold and the services rendered will cost an estimated total of $896,500.

The business needs very many thing to be in place before it officially start to operate. Some of the things needed include land and building, which is expected to be $ 500,000. We also need to buy kitchen equipment that are estimated to be $250. Other assets like furniture and fittings are also needed. In fact, furniture and fittings alone are expected to cost $5000. The business needs to start with inventory, therefore we have to buy stock first before we start our operations. For a proper start, the stock needed is estimated to cost $6,350. However, we expect that by the time we catch the ground in our operations, the quantity of stock will increase in our premises, not just to cater for the increased number of customers but also to increase the stock variety to meet the tastes and preferences of the customers.

Owing to the fact that I have never defaulted any loan payments, I expect to finance my business by loans, and I expect to get a loan of $305,000. If I get some other loans, like overdrafts, borrow from friends and get other loan will be better because I really need a lot of cash to raise the capital for the business.

In this regard, below is the income statement and statement of financial position for my business to be after one year of operation. There are some estimates that are subject to change during operations

TopTaste Fast Foods

Statement of financial position

As at Dec 31 2019

TopTaste Fast Foods

Income statement

As at 31st Dec 2019