Benefits of opening Small Scale Retail Store and Motel
Discuss about the Innovation and Sustainable Business Development for Retail Stores.
This Pitch is aimed at establishing a small retail store that will have a small motel and will also deal with the delivery of products. The motel will be will be established right near the university so that it caters for the needs of not only the students but also other people staying around the university. The Small scale retail stores with the small motel will thus deal with the selling of foods, drinks, milk, and other groceries to both students and the outside community (Porter & Kramer, 2019). This is attributed to the fact that most of the students do not have a place to hang out and have drinks before and after going and coming from the university respectively. As a result, the opening of the Retail Store and Motel will play a significant role in ensuring that the needs of the students as well as the outside community are well catered for. This business entity will be run by four individuals who have vast experience in running the business and will apart from ensuring that the business makes profit also ensure that the shareholders get value for their Return on Investments (R.O.I).
One of the chief missions of the Small Scale Retail stores and motel is to become the number one preferred choice retail store and motel for its customers and visitors.
There are various benefits that will accrue as a result of opening the small scale store with the small motel (Kopnina & Blewitt, 2018). Owing to the fact that students and visitors to the university normally spend enormous amounts of money daily to buy foods, drinks, and even recreational facilities, the establishment of the Retail Stores and Motel will ensure that such money is spend here. This will quite ultimately ensure that the needs of such customers are well catered for and that the money is spend here instead of any other place.
To ensure that the Retail stores and Motel becomes profitable, the business entity will ensure that some set objectives and goals are achieved and these include among others:
- Ensure that the needs and expectations of the customers are well met or attained.
- Ensure that the Small scale retail store and motel meets the targeted rate of at least 90% customers on a daily basis.
- Ensure that the business firm only employees well experienced and effective employees who will be able to address the customer concerns in a quick way.
- Ensure that the firm only sells fresh and high quality products that will make them prefer the business from the others.
In order to attract its customers, retain them and make the retail store and motel become profitable, the motel will be decorated in an elegant and exquisite façade and become a “conspicuous edifice facility” that will be likely by all and sundry (Singla, Ahuja & Sethi, 2018). The retail store and model will thus provide its customers with a conducive sport where its customers who will mostly be students will take a break from the busy class schedule to a place in which they will find both luxury and comfort. That apart, the retail store and motel will also ensure that there is installation of free Wi-Fi that will enable its customers to surf using their Smartphones and laptops free of charge. That apart, the business entity will also ensure that there is free wireless access in all the public areas of the morel and retail store. This is quite important because it will help the customers of the business to have the convenience of staying in touch with their friends, family, and even business partners (Hall, Matos, Gold & Severino, 2018). No doubt, the retail store and motel will ensure that it provides its customers with a comfortable and warm environment home away from their respective home experiences. The business will ensure that it presents its customers with unforgettable experiences whenever the customers visited the business.
Objectives and Goals of the Retail Store and Motel
In order to establish the Small Scale Retail store and Motel, an investment of $100, 000 will be required in order to rent the premises and also purchase other required items. The retail store and motel will indeed be a “cynosure of all the eyes” and it will have the ability of favorably competing with the other retail stores and motels which are based around the area. In order to achieve this, there will be need to ensure that we work hard, have loads of “financial commitments” and also ensure that we have a team of well trained employees who can effectively become indoctrinated in order to attain the objective of establishing a “top notch” retail store and motel around the university (Ritala et al, 2018).
As earlier on indicated, the motel will be tasked with the responsibility of providing its customers with various products such as meals which will include the local delicacies, intercontinental cuisines, among others. The morel will also avail its customers with numerous drinks which will include among others, beers, wines, martinis, distilled spirits, beverages, and the non-alcoholic drinks. A swimming pool will also be developed in the facility so as to provide customers coming to the entity with the much needed pleasure.
The business entity aims at delivering genuine, caring, reliable, and excellent products and services that will be superior to what the other competitors in the location will be offering. In addition to that, the business entity aims at ensuring that it enjoys over 95% of visitations by customers on a daily basis (Pedersen et al, 2018). On the structure of the business entity, it will be important for us to put in mind that the success and effectiveness of any business entity is highly depended on the not only the business structure of the business but also on the individuals occupying the available roles in the organization. As a result, Retail Store and Motel will embrace a business structure which will give its employees or workers enough room of exploring their creativities, giving a sense of belongs, and for them to effectively grow up the organization’s corporate ladder (Rosca, Reedy & Bendul, 2018). To ensure that this is achieved, we shall thus work harder through the recruitment of individuals or employees having the right mindset so that they can help us in the achievement of our ser business objectives and goals in a record time. As a result we intend to have the business structure as follows:
- The Chief Executive Officers (the Owners)
- Retail Store Managers and Motel Managers
- Administrative and Human Resource Managers
- Baristas/Bartender
- Cashiers/Accountants
- Front Desk Officer
- Marketing Officer
- Washer men/Cleaners.
- Security Officers.
Business Structure of the Retail Store and Motel
Some of the responsibilities of the chief executive officers will be provision of direction for the business entity and the implementation of the businesses mission, vision, and general direction (Sousa-Zomer & Miguel, 2018). The CEOs will also be tasked with the responsibility of signing business deals, fixing prices, recruitment, payment of staff salaries, signing of documents and checks on behalf of the business, and the evaluation of the firm’s success.
The motel managers will be tasked with the responsibilities of managing the business’s daily activities and ensuring the firm is in tip top and conducive shape and also shape customers. That apart, they will also be tasked with the responsibility of interfacing their vendors and will be reporting directly to the Chief Executive officers of the organization (Naor, Druehl & Bernardes, 2018). In addition to that, motel managers will also be tasked with the responsibility of attending to any of the customer enquiries and complaints, preparation of reports and budgets for the organization, training and development tasks, handling of procurement, and any other duties which may be assigned to them by the CEOs.
The responsibilities of the administrative and human resources managers will be to overset h smooth running of the administrative and HR tasks of the firm, definition of the job positions that may occur for recruitment, and the management of the interviewing process. Other duties may include making arrangements for travel, appointments, meetings and the training, valuation, as well as the assessment of the firm’s employees.
The marketing officer of the organization will be tasked with the responsibility of developing, executing, and evaluating the new plans for expanding the increase of the business sales and also document all client contacts and information.
The facility or maintenance manager will be tasked with the responsibility of allocating and managing all the spaces in the building as well as the management of building maintenance activities. The Bartender or Baristas will be tasked with the responsibility of interacting with the customers, taking their orders for snacks, food, and tracks (Oderanti & Li, 2018). They will also ensure that they effectively assess the needs and preferences of the customers and make viable recommendations and prepare purchase requisitions or inventory as required in order to replenish the supplies.
Among other duties, the cashier or accountant of the firm will be tasked with the responsibility of collecting payments for the drinks which have been served and the balance on all the receipts (Koukios et al, 2018). The accountant will also ensure that there is preparation of the financial reports at end of every working week, handle on behalf of the company all the financial transactions, interface with the bankers of the firm, payment of levies, utility bills, and tax for the company. The front desk officer will be tasked with ensuring that the customers feel at home, handle their enquires, assess their needs and preferences, and serve them in a helpful and friendly manner. The accountant may also perform any other duties assigned by the CEOS.
Roles and Responsibilities of the Retail Store and Motel’s Team
Cleaners and washer men will be tasked with ensuring that all the places are clean and maintain them through sweeping, dusting, vacuuming, and cleaning of windows and doors, and also ensure that the toiletries as well as the associated supplies do not run out of stock, and handle any of the duties which may be assigned to them by the restaurant managers (Schaltegger & Burritt, 2018). On the other hand, the responsibilities of the security officers at the firm will include among others, ensuring that the firm is at all times secured, controlling of traffic, and organizing parking, giving of security to the staff members on a regular basis, and patrolling of the firm 24 hours on a day. They will also submit the weekly security reports and perform any other duties that will be assigned to them by relevant personnel in the organization (Bocken, 2017).
In order to ensure that the business becomes viable and profitable, it will be important to ensure that it takes orders from customers which are at least above $50. Taking least orders of at least from $50 is quite essential for the new firm since not only will it enable it to cover for the operational costs but it will also make it to become profitable on a long run (Lubberink et al, 2017).
Based on the initial market research that was conducted in prior regarding the establishment of the business, it was ascertained that the number of females exceed that of the males when it come to individuals who mostly used retail services and motel services (Sousa-Zomer & Miguel, 2018). This is effectively depicted in the table below:
|
GENDER |
% WHO USED MOTELS |
% WHO USED RETAIL SERVICES |
|
MALE |
40 |
30 |
|
FEMALE |
60 |
70 |
|
TOTALS |
100 |
100 |
Based on the above table, it is quite evident that the female genders were the ones who mostly used Retail and motel services at 60% and 70% respectively as opposed to their male counterparts who used the same services at 40% and 30% respectively (Wadin, Ahlgren & Bengtsson, 2017). In carrying out market research for the new business, marketers will ensure that the male gender is also attracted to use the products that will be sold in the retail stores and also ensure that they use the motel services. This is quite prudent since it will enhance the profitability of the new business.
References
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Hall, J., Matos, S., Gold, S., & Severino, L. S. (2018). The paradox of sustainable innovation: The ‘Eroom’effect (Moore’s law backwards). Journal of Cleaner Production, 172, 3487-3497.
Profitability and Viability
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