Business Plan for a Garden Nursery Samples †MyAssignmenthelp.com

Question: Discuss about the Business Plan for a Garden Nursery. Answer: Introduction The agricultural sector is essential to the life of any individual. The industry is responsible for sustaining human life and enhancing the aesthetic value of the environment. It is therefore important to preserve and facilitate the industry. Riley and Jim Forestor are passionatte and strong believers in the importance of agriculture. The two investors are fully invested and determined to ensure the project succeds. Being the majority owners, the two wil manage all opeational responsibilities at Rose Petal nursery. In particular, Riley will be in charge of inventory and human resources while Jim will be responsible for agricultural and other labor-intensive tasks.Driven by their passion and efforts, Riley and Jim expect the garden nursery to achieve a 30% growth rate during its second year of operations and potray similar positive yields in the years to come. Through creative marketing and provision of the highest quality products, Rose Petal aims to attract and maintain a loyal cust omer base in their local and regional target markets[1]. Objectives The company aims to maintaining an average gross margin of about 50%, to generate an average amount of $1000 on each business day of every month and to realize an annual rate of growth of at least 10% in the second year. Mission Rose Petal Garden Nursery aims in offering a wide range of plants as well as trees in an setting that is aesthetic. Customer service for Rose Petal is extremely important. The company aims for every customer to be able to have a pleasant experience when shopping. It is also our stuff intention to answer customers questions with a lot of expertise and also offer our information whenever it is necessary to our customers. Keys to Success The primary keys to success for Rose Petal Garden Nursery are going to be based on these factors; selling high-quality products and ensuring an excellent customer support as well as service[2]. Maintain customers so as to develop a repeat purchase as well as make referrals. Expanding the daily sales through adding on the variety of plants and trees sold and finally communicating with the customers through a creative form of advertisement Start-up The start-up requirements for the company totaled up to $100,000. This included the initial months land rent for the garden nursery. The lands regular rental fee is $1000 monthly. These costs will be financed wholly by Jima and Riley Forester. The start requirements include; legal formalities, brochures, insurance, rent and the expensed equipment. These totaled up to $42,500. The start-up assets include; required cash, the start-up inventory, available assets and long-term assets which sum up to $58,500. The summation of investment put into the company is $42,500, and the total capital and liabilities at start-up are $100,000. Products Offered Rose Petal Garden Nursery is going to offer a large range of bedding plants, trees, shrubs as well as vegetable plants. The company will also offer accessories used in the garden like fountains, garden tools, stepping stones, potting soils, and fertilizers. Many of the plants are going to be grown in the state of the art green houses on-site. At the beginning, however, the company will buy fully grown plants and trees for the few first months of operation. Market Analysis The nursery intends to become the best option for landscape contractors as well as homeowners in the United States of America. Target markets that the company is going to pursue are the customers with residential homes who have been searching for avariety of trees and plants to build their residences beautiful[3]. We are aiming to attract the landscape contractors with our competitive prices as well as the wide range in our inventory. Most people will be attracted to shop at our company due to the best customer services that we are going to offer[4]. The company aims to see a5-10% increase in the number of customers each year. The profile of our target market is segmented into the following pasts. Target Market Segmentation Strategy Rose Petal Garden Nursery targets to be the best destination trees, flowers, as well as garden supplies. The strategies used dwell on the superior performance on areas like; large selection and fair pricing, customer service, and high-quality goods[5]. The targeted markets for the company will be categorized into three segments; these are homeowners and residential, renters and commercial contractors[6]. The key marketing goal is to be able to sell to these reachable target market segments which aim at making the homes of people and their work places beautiful. Residential, Homeowners Rose Petal Garden Nursery aims in being the best choice for homeowners who want to buy plants as well as garden supplies. With the varied large variety of trees, plants and garden supply, it is our goal to be able to give personal attention to all customer and to be able to tend to their planting needs. On the other side, the residential segment has a high and wide scope of revenue however the annual average income of the customers will be about $60,000. Contractors These are very valuable customers the nursery. Providing the wide range of quantities contractors may need, and a consistent inventory is very important. An efficient and affordable service will let contractors realize they can easily count on the company in meeting their professional needs. The contracting business that we are going to service will have annual revenue of not less than $60,000 to about $110,000. Renters These are individuals dont have their own homes. These people, however, need plants and flowers to decorate their homes. Renters also make up a good segment of the companys target market. There are a lot of apartment complexes and rentals with spaces enough for renters to plant gardens. The household income for this market segment ranges from $20,000 to $50,000. Marketing Strategy The strategy of Rose Petal Garden Nursery is based on serving its customers with product knowledge and expert service[7]. The company is also building the marketing plan so as to reach renters, homeowners, as well as contractors. It focuses on the satisfaction of the needs of all customers as well as proving high-quality plants and trees at very affordable prices. The strategy aims at becoming the best option for contractors as well as the general public in filling their trees and shrubbery needs and desires. The strategy focuses on the superior performance in areas such as; knowledgeable staff, customer service, great location and also affordable prices for all our customers. Financial Plan The financial plan for Rose Petal Garden Nursery has the following essential factors. The growth rate will be about 15% in sales for the second year in total in excess of $350,000 in the total revenues. The average amount of sales on each business day in the three hundred and five days per year in excess of $80,000 The difficulties and risks include; slow sales which will result in a cash flow that lower than the projected amount. Debilitating and highly aggressive actions from competitors and lastly the sluggish and unpredictable economic conditions The business financial plan of our company also includes important assumptions which will decide the possibility for our future success. These are; a healthy economy that will be responsible in supporting our average growth in the market, low operational expenses especially in the area of purchasing trees and plants which can also be grown just on-site[8]. The fixed costs for running the company are approximately $14,000 each month after opening and hope to reach a break-even point when we are in the third year after opening. Rose Petal Garden Nursery anticipates a steady improvement in the sales comes spring and business will mostly slow in the winter as well as autumn. We are hoping that our company is going to have a steady increase in cash flow as we continue to mature. Strategic Occupational Health Safety Plan Working in greenhouses with lots of chemicals and fertilizers poses a lot of risk to the health of the people maintaining the greenhouses[9]. The management of Rose Petal Garden Nursery is committed to ensuring perfect standards of health and safety for the people who interact with the company, both staff members, and customers. This safety plan aims in creating policies as well practices which will lead to a best-practice safety[10]. The plan will ensure a zero permanently disabling injuries, ensuring the employees will take full responsibility for their safety and ensuring compliance with the safety regulation measures. Rose Petal Garden Nurserys safety plans vision is zero harm to every person we will deal with. Its goal is a zero disabling injuries as well as aggressive reduction of any other kinds of personal damages. Risk Management Strategies New nursery companies often make several mistakes as they start. They either are unprepared or sometimes underprepared after starting. Initial poor service or a poor quality of trees and plants will discourage customers from returning to the company[11]. Many first companies will spend all their effort when opening up and will not be capable of maintaining the high-quality products needed by customers so as to expect them to come back and later leading to low and poor revenues. Rose Petal Garden Nursery will be prepared as it can and have backup equipment. Alternative suppliers will be maintained and a three months supply of trees and plants on the lower side. Change in the health regulations, as well as importation policies, will affect the company. However, we will develop a very strong professional relationship with the appropriate authorities so as all processes will be covered in an expected way. Considering our products still not known to a large number of consumers, marketing operations will be very mandatory. The company aims plans on implementing a variety of marketing strategies as listed in the marketing strategy part of this garden nursery business plan. In establishing a product as well as an awareness for a brand, Rose Petal Garden Nursery will give small gift samples which will encourage first-time customers to return to us. Training together with empowerment of the stuff will be seen in the good service given to customers. I am sure that this will surely be paramount to the success of Rose Petal Garden Nursery[12]. References Chawla, Kiran, "BUSINESS PLANNING ESSENTIALS: PREPARING A BUSINESS PLAN" (2015) 1(3)Journal of Advances in Business Management Stokely, Craig R., "The 10 Keys To New Product Success" (2003) 4(1)Handbook of Business Strategy Feng, W., and Figliozzi, M. "An Economic And Technological Analysis Of The Key Factors Affecting The Competitiveness Of Electric Commercial Vehicles: A Case Study From The USA Market." [2013]A case study from the USA market. Transportation Research Part C Ellis, Paul D., "Market Orientation And Performance: A Meta-Analysis And Cross-National Comparisons*" (2006) 43(5)Journal of Management Studies Levitt, Steven D. and Chad Syverson, "Market Distortions When Agents Are Better Informed: The Value Of Information In Real Estate Transactions" (2008) 90(4)Review of Economics and Statistics Malhotra, S., Sivakumar, K. and Zhu, P., "Distance Factors And Target Market Selection: The Moderating Effect Of Market Potential." [2009]International Marketing Review Kim, Yuna and John S. Talbott, "Marketing Social Selling Jobs: A Re-Labelling Strategy" [2017]Marketing Intelligence Planning AimeeD. Prawitz and Judith Cohart, "Financial Management Competency, Financial Resources, Locus Of Control, And Financial Wellness" (2016) 27(2)Journal of Financial Counseling and Planning. Ron Zevenhoven, "Understanding Greenhouse Gases: Mission Being Accomplished" (2015) 5(6)Greenhouse Gases: Science and Technology. 10. Strategic Safety Plan(2017) Ohschange.com.au https://www.ohschange.com.au/articles/Strategic_Occupational_Health_and_Safety_Plan/Strategic_Occupational_Health_and_Safety_Plan.htm Risk Management Plans(2017) Business.gov.au https://www.business.gov.au/info/run/risk-management/risk-management-plans Software, Palo,Pie Restaurant Business Plan Sample - Risk Management | Bplans(2017) Bplans.com https://www.bplans.com/pie_restaurant_business_plan/risk_management_fc.php