Bubble Tea-Abella-Carpio business plan on our subject PDF

Preview

Summary

BUBBLE TEABUSINESS NAMEWrite a 1-minute read of your business plan like an elevator pitch. Investors and loan providers need to know that you have a solid understanding of the trajectory of your business. You need to prove that there is an attainable and sustainable need for your solution, that you ...

Description

BUBBLE TEA

BUSINESS NAME Write a 1-minute read of your business plan like an elevator pitch. Investors and loan providers need to know that you have a solid understanding of the trajectory of your business. You need to prove that there is an attainable and sustainable need for your solution, that you have a strong business strategy, and that your business can be financially stable. This means having the right financial statements,

CREATED BY:

forecasts, and a digestible explanation of your business model available for potential investors. This is

MARY ANN S. ABELLA NORMANDY G. CARPIO III BSENT 3-1

Rogie © by PUP San Juan Campus All Rights Reserve

TABLE OF CONTENTS PART I DESCRIPTION OF BUSINESS COMPANY NAME

1 2

NATURE OF BUSINESS BASIC PROFILE

2

STRUCTURE

3

COMPANY REACH

5

RATIONALE/OBJECTIVES OF THE PROJECT

7

MEMORANDUM FOR TQM PROJECT

10

QUALITY COUNCIL STRUCTURE

11

PART II DESCRIPTION OF THE CURRENT SYSTEM

26

ANALYSIS AND FINDINGS ON THE CURRENT SYSTEM

26

PART III CONCLUSION RECOMMENDATIONS REFERENCE

2

27

PART I

COMPANY NAME There are two competing stories for the discovery of bubble tea. The Hanlin Tea Room of Taiwan claims that bubble tea was invented in 1986 when teahouse owner Tu Tsong-he was inspired by white tapioca balls he saw in the local market of Yamuliao in Mandarin. He later made tea using these traditional Taiwanese snacks. This result is known as “pearl tea” Another claim for the invention of bubble tea comes from the Chun Shui Tang tea room in Taichung. Its founder, Liu Han-Chieh, began serving Chinese tea cold after she observed coffee was served cold in Japan while on a visit in the 1980s. the new style serving tea propelled his business, and multiple chains serving this tea were established. The company’s product development manager, Lin Hsui Hui, said she created the first bubble tea in 1988 when she poured tapioca balls into her tea during a staff meeting and encouraged others to drink it. The beverage was well received by everyone at the meeting, leading to its inclusion on the menu. It ultimately became the franchise’s top-selling product.

DESCRIPTION OF NATURE OF THE BUSINESS Bubble Tea is a tea established that deals in all flavors and types of bubble tea. We will sell our bubble tea as a bottled beverage ready-to-drink product. Our bubble tea will be an unusual substitute to traditional tea whilst still providing all the best experience to our different customers. Bubble Tea’s intention is not to make only revenue but also to make sure we have a healthy margin ways. Also, we do not intend to sell bubble tea alone as we intend to deal in various products that are associated with bubble teas as well as offer service that are in line with bubble tea. Also we provide better taste to our customers and excellent service to their franchisees.

BASIC PROFILE

Company Logo

Figure 1: Company Logo The figure shows the Company Logo of Bubble Tea Bubble Tea Supply receives 2021 best of Mililani Award. Bubble Tea supply has been selected for the 2021 best of Mililani Award in the beverage distributor category by the Mililani Award Program. In the 1990s, bubble tea spread all over East and Southeast Asia with its ever-growing popularity. The American tasting institute, a division of Quality institute International is pleased to once again announce Bubble Tea supply as the 2005 Gold Medal Taste Award winner in the Bubble Tea category for the Fourth Year in a Row. As the gold medal taste award winner, Bubble Tea Supply’s products received the highest rating over all other nationally distributed manufacturers, winning on a range of criteria including appearance, flavor, taste, and texture as judged by the professional chefs of the American Tasting Institute. Company Vision and Mission Statements Vision To be the preferred bubble tea store in D’Iberville-Mississippi, and in the whole United State of America; and to also ensure that we never compromise on quality in the marketing of our products. Mission To achieve our vision, we will make sure to always check on what ingredients are used in our bubble teas, and also deal honestly and transparently with our customers.

STRUCTURE AND COMPANY REACH Our business structure. Bubble tea is a tea company that has been established to make profit as well as favorably compete with its copetitors; however, for this to be achieved, we have to ensure that we get our business structure right, as this will go a long way into determining if we will achieve our goals and objectives or not. Therefore in getting our foundation right, we intend to get competent and experienced staff that throughly understand this business and also have the experience necessary to help us achieve our goals and objectives. The employees we intend to hire must also understand our core values, what we stand for and also be able to communicate this effectively to others as well as to the lower cadre staff. Due to the fact that we intend to make, sell and serve bubble tea as well as certain ingredients that would be needed for those who intend to make this tea for themselves, we would need several employees assigned to different position that will cover all the products and services we intend to sell here at bubble tea. If you visit Taiwan or Hong Kong you can’t help but notice the unique bubble teashop on every corner. Bubble tea to Taiwan is what coffee or soda is to the U.S. one would think bubble tea is the national drinks by its popularity. Just like in Taiwan, bubble tea shops are popping up all over the world. One Taiwan based company has over 450 locations while in the Philippines another person owns over 100 within 1.5 years.

Figure 2: Location Map of Bubble Tea The figure shows the location map of the Bubble tea main office

RATIONALE / OBJECTIVES OF THE PROJECTS Due to the fact that bubble teas have started gaining wide acceptance in the United States of America, we are establishing our bubble tea business so as to offer our various customers quality tea as well the choice of having different flavors. We have our customized store in place to cater to all our customers in public places. Our bubble tea business is located in a strategic location that is not saturated thereby offering us the opportunity of attracting more customers. Also, we are located in the place that is easy for customers to conveniently have access to. We have carefully considered our competition in our store and are rest assured that we would stand out from them due to our quality products and services with affordable pricing and also due to the fact that we have laid down public strategies that will be effective in making us stand out once implemented. Our employees are the face of the business and so we not will only pick competent employees to help run the business but also be able to communicate the brand effectively will be trained on how to make bubble tea that are of standards. Bubble Tea business is an excellent business concept that will allow us to create our niche and become a nits recovered in the market. However due to the pride in professionalism, we decided to hire a business consultant to take a hard look at our business concept and let us know if we have any chance of survival in this business. The business consultant intends to use a SWOT (strength, weakness, opportunity and treat) analysis to determine what we are likely to experience when starting and running a bubble tea business. Here is the result of the delicious tea bubble analysis. 

Strength

-

There are several strengths. That we have that will be useful for the bubble tea

business. First, we have a strong distribution channel which will ensure that the bubble tea is penetrated and available for our customers far away. -

Second we have efficient and knowledgeable employees who understand the

beverage market and know what takes to get us to the top is. Plus the owners, who have the experience to make us the brand we intend to become. 

Weak sides

-

The disadvantages stem from the fact that it is not well-known segment, and

therefore it will be much more difficult to penetrate this market and attract the right customers,

especially from the soft drink market. In addition, we will fight against other healthy drinks on the market to build personality and set us apart. 

Opportunity

-

We have many opportunities open to us, and they abound in our intention to

continually introduce new products and innovations. In addition, we are creating a brand that we want to offer to global investors and partners. 

Threat

-

With every business facing threats, we expect stiff competition from new

competition in the same place or around our business. In addition, we also expect people who claim to have healthy issues to accept our product. Regardless of the threats we face, we are optimistic that we will stand out as we have developed strategies to ensure we are proactive on this issues.

MEMORANDUM ANNOUNCING OF TQM Bubble Tea’s main goal for the company includes other products in their menu. The team believes that Bubble Tea has a great potential to become a food café. The primary market of Bubble Tea is students in a sense where their shops are located near schools and universities. Students after classes usually look for a place to study, and Bubble Tea not the student’s first choice because they lack food to eat. Thus, adding edible products to the menu means increased potential customers, which means larger profit

Market Penetration A successful collaboration with well-known Malls such as SM and Ayala can benefit Bubble Tea profit. The partnership with these businesses aims to gain or increase its sales/ market growth.

Market Development This intervention entails extending working hours and days by implementing a rotational schedule, different employees’ day and night. This will serve customers more and make milk tea products any time of day, and it would be more effective if it used better time management during the shop’s operational periods. Product and Service Development

This will boost revenue by strengthening and educating proper customer relationships and improving service even though both services and products are identical to those who offer the same product. QUALITY COUNCIL STRUCTURE

Chief Executive Officer 

Responsible for the overall strategic direction of Teelicious Bubble Tea



Communicates and ensures the implementation of the vision and objectives of the organization to employees



Constantly evaluates the success of the organization

Quality Assurance manager 

Ensures that the bubble tea prepared has passed hygienic conditions



Ensures that low quality ingredients are not bought and used to make bubble tea on behalf of the organization



Ensure that our standards are not lowered for any bubble tea produced.

Admin Manager 

Ensures that all the departments in the organization runs smoothly



Conducts recruitment and orientation for new employees



Responsible for carrying our performance appraisals on employees

Inventory Manager 

In charge of back room bubble tea ingredients storage



Secures supplies and makes sure ingredients taken are recorded and accounted for



Liaises with purchasing manager as to what is needed in the store

Branch Manager  Ensures that there is adequate supply of bubble tea base and other ingredients for customers  Ensures that the store is well ventilated and conducive enough for employees and customers  Ensures that the store is well secured at all times Senior Manager 

Providing guidance to direct reports, typically comprising first-line managers and supervisors.



Ensuring clarity around priorities and goals for the entire functional area.



Approving requests for investment to a certain level of authority.

PART II DESCRIPTION OF CURRENT SYSTEM Bubble has been established to make different flavors of bubble tea for our various customers and also to ensure that revenue is made and profit maximized from the different products we intend to make for our customers.

Bubble Tea therefore intends to generate income by selling the following products to its customers; 

Different flavors (fruit tea, milk tea) and types (blended, shaken, tea based, smoothie, slush, milk tea or juiced)



Tapioca pearls



Powder



Syrups



Jellies and juice balls



Bubble tea equipment and machinery



Bubble tea recipes



Consultancy services



Trainings



Franchise

ANALYSIS AND FINDINGS ON THE CURRENT SYSTEM

Bargaining power of supplies Customers of Bubbe Tea have the power to bargain because there is no low switching cost for them, also given the fact that a lot of milk tea shops right now offer a wide variation of prices. In that certain case, the number of suppliers given in the industry determines provider power. Bargaining power of the Customers The consumer has the power to bargain because many of the milk tea shops in the Philippines are now experimenting and offering a lot of promos that are very popular for the customers. That kind of strategy gives the company ownership towards the consumers because they can cater to a lot of customers by doing that kind of promos. Potential Entry of New Competitors The rivalry between the new competitors in a given industry can take several forms. To join the industry, a significant number of financial resources with buildings and assets are needed. Law entry barriers in the industry also need to align and imply that many rivals exist within the various sectors, resulting in an increased rivalry as businesses seek to expand their market share.

PART III

CONCLUSION The aim of every business is so as to make enough revenue and eventually profit that will sustain the business throughout its lifecycle. To achieve this, certain factors such as having competent employees, minimizing cost and re-investment of profit as well as having loyal customers is very essential. Not employing the right staff can be detrimental to one’s business, because not only will the staff not understand what it is the company wants to achieve but they will also not be able to meet up to the productivity quota that the company requires.

It is for this reason that we intend to employ only employees that are competent and also understand

what we stand for as a company. We will ensure that our employees are adequately compensated both intrinsically and extrinsically. As we continue to produce quality bubble tea for our customers, we know that overtime our running costs will be reduced a bit, allowing us to minimize cost and maximize on our profit, which we intend to re-invest back into the company so as to boost its bottom line, ensuring that we remain in business for a long time to come.

Finally, our customers are very important to us for without them, we wouldn’t be in existence, and so we are ready to listen to our customers’ feedback and complaints and ensure that they are promptly attended to. We also intend to ensure that our loyal customers are effectively rewarded with discounts and other incentives especially when they refer other customers to us. RECOMMENDATION Bubble Tea’s success is undeniable, along with the popularity of milk tea products in the country. According to Castro (2019), we still don’t consider Milk Tea to be a ‘trend’ today. Instead, milk tea is now a favorite. As long as the Milk Tea craze is alive, the success of Macao Imperial Tea will continue as they belong to the top 12 best milk tea brands in the country. However, consistency is not a safe term in business, so they have to elevate their game against other competitions continuously. At this juncture, the team proposes product development and market penetration through marketing and advertising efforts as recommendations for Macao Imperial Tea to dominate the market constantly. Before anything else, we would like to mention the goals of these recommendations:

 Minimize the negative impacts and maximize the positive ones in the implementation process  Secure the company’s dominance in the market  Deliver customer satisfaction through excellent product quality.

REFERENCE...