EGG-solidwork-programI’m working on a logo design exercise and need guidance to help me study.

Please fix the file below into the disk :2”-diameter disks with 3/8” thickness. After you fix it, please put into the assembly to get the final project. The files below are the solid files. After that, put them into assembly.

Business Plan

                                                     Ans Thomas

BUS 101

Name of the business: Chicago Green Foods

Strengths
Weaknesses

A strong focus on innovation Strong demand for green or healthy food options. A given survey established that 39% of Americans prefer healthy food (WARC, 2020). Therefore, the market is ready  Will hire quality and experienced employees
Lack of experience can affect the level of competitiveness Strong competition from established businessWeak brand position

            In a different aspect, I strongly believe that Chicago Green Foods will succeed because it is targeting a growing market. The increasing demand will make it possible to develop a critical mass. Secondly, the focus on innovation will empower the entity to compete competitively with established brands. Thirdly, the pursuit of excellence in service delivery will allow the company to satisfy consumers thereby retaining them. The business model involves the sale of food products. The business will procure agricultural products from farmers and process them. The business will conduct market research to determine consumer expectations and use the generated insights to craft healthier and unique recipes that fit consumer needs. Some of the products to be marketed include green tea, green magma, fresh beef, Carrot Essence, Chlorella Tabs among others. This is a good business idea as the demand for these products is increasing (WARC, 2020). It is quite advantageous to own this business because of the freedom it offers and provides an opportunity to change humanity. However, this business is stressful, attracts strong competition and staff retention is a notable issue. Competition and regulations are uncontrollable issues while acts of terrorism are one of the unforeseen problems in this business. I want to start this business because I have a strong entrepreneurial intention and secondly, I want to promote sustainability.

Research

            Those aged over 18 years are the target market. This target group value and appreciate healthy food options and secondly, they have the purchasing power. This group wants healthy food options as a proactive measure to prevent diseases. Secondly, this group is also driven by the need to preserve the environment, thus they will strongly identify with Chicago Green Foods. The company will commission a segmentation, targeting and positioning analysis to map the interests, behaviors, tastes and preferences of this target group (Schlegelmilch, 2016). Thereafter, marketing initiatives such as advertising and public relations will be deployed to create awareness about the business. Messages will be propagated through the main media and social media. The products will satisfy their wants as they are fresh, sustainably harvested, have less sugar and processed fats.

Location

            Chicago Green Foods will be located near Willis Tower where I will be renting. Although the hotel is located near a major highway, the intersections are easy to navigate while there are no obstructions, meaning that the entity is observable from a distance. The area is also busy as it has walk-by and drive-by traffic but there is a speed limit of 20 Km/hr. The entity will be located less than 100 meters from the main road, a factor that eases accessibility. The hotel will also offer angle parking which is beneficial to our patrons as it reduces the possibility of conflict. The parking location is behind the hotel and we also have underground parking for patrons who wish to stay for longer. To ease accessibility, the entry point will be located towards the main road but the exit will be located at the rear end.

The hotel’s physical evidence will be visually appealing.

            The physical evidence is part of the 7P’s of marketing and refers to the physical elements that consumers interact with. Colour green will be the overriding color as it communicates our commitment to sustainability. To improve the visual appeal, some parts will be painted with white and purple colors whose aim is to make the hotel more conspicuous. To further improve the visual performance, the grounds will be carefully manicured and signs will be placed to ease navigation. To give our patrons an excellent view of the city, the floor to ceiling windows will be used. Additionally, to minimize potential collision, doors that open full length will be preferred.

            The hotel is located some distance from the metropolitan region which hosts a high number of hotels. Therefore, the level of competition is relatively low. This location was chosen to maximize the potential offered by other establishments within the area. That is, the hotel will target people who patron the United Centre, CIBC Theatre and Chicago Symphony Orchestra. However, the hotel will experience competition from the Nobu Hotel Chicago, The Guesthouse Hotel, Hotel EMC2, Sophy Hyde Park, and The Robey which offer some healthy options on their menu. However, Hotel EMC2, Sophy Hyde Park, and The Robey present the biggest competition because they compete on cost leadership. However, these competitors do not offer many green options, thus Chicago Green Foods has an edge over in relation to the product portfolio.

            To enhance its visibility, Chicago Green Foods will utilize several marketing strategies. In particular, social media marketing will be adopted because as of 2018; 244 million Americans were on social media (Statista, 2019). This information means that any message propagated through social media will likely receive strong viewership. Additionally, social media is easy to use and similarly cost-effective, benefits that will save Chicago Green Foods considerable funds. Additionally, the local radio stations will be utilized as radios still have a large audience because 272 million Americans listen to the radio every week (Silva, 2019). Once the hotel becomes operational, referral marketing will be deployed.

Legalities and Insurance

            Chicago Green Foods is a service business that will take the form of a partnership. The partnership is preferred as it is relatively easy to start, costs and other burdens are shared, and each will bring a specialized skill. In a different aspect, the hotel will require a food production license, liquor license, broadcast license, occupancy and alarm permits.  The business will require three types of insurance policies; disability insurance, medical insurance and business insurance.

Financing

            The business will be financed from personal contributions and a loan of $200,000 from Accion. This loan has a low-interest rate and attracts no penalties for payment (Chicago GOV, 2020). As an SME, Chicago Green Foods will utilize cost-plus pricing where a small mark-up will be added to the overall cost of production. The mark-up will be the revenue. Using the formula, operating breakeven revenues = operating fixed costs / (1 – gross margin), the breakeven point is expected to materialize within 8 months. The partners will receive a salary which will be limited to 50% of the profits generated.   A brief financial analysis is as shown below.

Cost of goods
$70,000

Advertisement expenses 
$2,000

Commissions expense 
$5,000

Administrative expenses
$6,000

Cost of labor
$30,000

 
 

Pricing

            Market research will be conducted to assess industry pricing strategies. The cost-plus pricing strategy and the demand pricing strategy might be applicable based on the market’s response to the products.

Staffing

            The hotel will begin with 10 employees whose core duties and responsibilities include welcoming patrons, taking orders, food preparation and cleaning. The number of workers will be limited to 8.8 hours a day which is in line with the Fair Labor Standards Act (Andrias, 2018). Each employee will be paid a maximum of $7.25/hr. which is the federal minimum wage. Some of the general rules for the employees include upholding honesty; pursue excellence, time management, and no time wastage.

Services, Inventory, Credit

            Chicago Green Foods will offer food services and liquor services. Furthermore, the ABC analysis will be used as the inventory management method as it will ensure the hotel has the right amount of stock while also helping to keep inventory costs down (Khan, Dong, & Yu, 2017). The services will be served in our outlets but delivery services will also be provided. The hotel will partner with delivery companies such as Uber to provide the last mile delivery option. To stimulate demand, the hotel will offer discounts of up to 20% on certain products.

References

Andrias, K. (2018). An American Approach to Social Democracy: The Forgotten Promise of the Fair Labor Standards Act. Yale LJ, 128, 616.

Chicago GOV. (2020). Loans Under $50K. Retrieved 3 November 2020, from https://www.chicago.gov/city/en/depts/bacp/sbc/loans_under_50k.html

Khan, S. A. R., Dong, Q. L., & Yu, Z. (2017). Role of ABC Analysis in the process of efficient order fulfillment: Case study. In Advanced Engineering Forum (Vol. 23, pp. 114-121). Trans Tech Publications Ltd.

Schlegelmilch, B. B. (2016). Segmenting targeting and positioning in global markets. In Global marketing strategy (pp. 63-82). Springer, Cham.

Silva, M. (2019). Is Traditional Radio About to Crash? Audience Levels In America Have Been Flat for Three Years Straight. Retrieved 3 November 2020, from https://www.digitalmusicnews.com/2019/07/15/traditional-radio-america-flat/#:~:text=According%20to%20the%20Nielsen’s%202019,2.5%20percent%2C%20from%202016’s%20figures.

Social media usage in U.S. | Statista. (2019). Retrieved 3 November 2020, from https://www.statista.com/statistics/273476/percentage-of-us-population-with-a-social-network-profile/#:~:text=In%20the%20United%20States%2C%20an,exceed%20257%20million%20by%202023.

WARC. (2020). More US consumers demand food & drink sustainability | WARC. Retrieved 3 November 2020, from https://www.warc.com/newsandopinion/news/more-us-consumers-demand-food–drink-sustainability/43153

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