GAC012 Assessment Event 2: Project-Written Report

Business Plan:

Ice Cream Truck

Student’s Name: Park Sowoon

Student ID #:

Teacher: Mr. Choi

Due Date: July 16, 2012

Word Count:

GAC012 AE#2 Park Sowoon

Table of ContentsExecutive Summary.....................................................................................................................................2

1.0 Introduction......................................................................................................................................3

1.1 The objectives of the research.......................................................................................................3

1.2 Ice Cream Truck............................................................................................................................3

1.2.1 Prime function........................................................................................................................3

1.2.2 Key competitors.....................................................................................................................3

1.2.3 Legal structure......................................................................................................................3

1.2.4 Choice of Business.................................................................................................................4

1.3 Background knowledge.................................................................................................................4

1.3.1 The importance of SWOT...........................................................................................................4

1.3.2 The importance of the business plan model................................................................................4

1.4 Thesis Statement...........................................................................................................................5

2.0 Method..............................................................................................................................................5

2.1 Data collection..............................................................................................................................5

2.2 Research objectives from data collection......................................................................................6

3.0 Findings............................................................................................................................................7

3.1 Key success factors.......................................................................................................................7

3.2 SWOT analysis of the business and an alternative........................................................................7

3.3 Summarization..............................................................................................................................9

4.1 Interpretation.................................................................................................................................9

4.2 Assess the effectiveness of the research......................................................................................10

5.0 Conclusion and recommendation....................................................................................................10

5.1 Identification and Justification....................................................................................................10

5.2 Competitive edge........................................................................................................................10

Reference List...........................................................................................................................................11

Appendices................................................................................................................................................12

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Executive Summary

Purpose: planning and analysis my business.

Thesis statement: Methodical business plan will guarantee success of my

business. success of

Methods: I use internet for market researching and I also interviewed related

people.

Findings: I have strength about moving flexibility.

Key conclusions: I choose Plan A.

Recommendations: For startup new business, people have to do enough market

researching such as location, products, and price.

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1.0 Introduction

1.1 The objectives of the research

Objectives should be SMART. SMART stand for specific, measurable, achievable, realistic,

time specific.

1.2 Ice Cream Truck

1.2.1 Prime function

Providing ice cream to walking customers

1.2.2 Key competitors

- Baskinrobbins 31: It is the world’s largest chain of ice cream specialty shops.

It has more than 6,700 retail shops in nearly 50 countries.

- Coldstone: It offers ice cream which mixed with nuts, fruits and candy. They

mixed ice cream on a frozen granite stone right after offers.

- Iceberry: It is market of not fat frozen yogurt with diverse flavor.

1.2.3 Legal structure

Sole trader - I will do it by myself because ice cream truck is too small for more

than two work people. Also this is my first business so I want to prove that I can

successful only by myself. Moreover, I want to gain all profit not just divided one

and I want to avoid from small or big fight with my partner.

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1.2.4 Choice of Business

When I was young and now also, I really like ice cream but we can get ice cream

only in store, especially in Korea. Korea has a lot of street vendor but there are

no ice cream vendors. Also ice cream truck is rare item and it is very unique item

to start up. So I want offer an opportunity that can buy ice cream and taste

delicious ice cream no matter where is it, for everyone.

1.3 Background knowledge

1.3.1 The importance of SWOT

SWOT stands for strength, weakness, opportunities, threats. They are necessary

for my business. Strength will make me confidence about my field. Knowing

weakness improves my business and can strengthen my business. In short,

strength and weakness make me notice about my business plan’s pro and con.

Also, knowing opportunities make my decision that which location is the best

and knowing threats make me avoid to the worst situations.

1.3.2 The importance of the business plan model

The business model is very important to start up my own business. It is the map

of my business and it indicates the way what I should do so it help me not

digress from main purpose. Also planning and then follow the direction can save

money and time. Moreover, if I make some mistake, I could fix and incorrect by

my business plan. Therefore, for the long run, it will make me success.

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1.4 Thesis Statement

This business plan will help me to give a shape to a plan. First, Searching data in

internet, I can more understand same type of business and I can prepare more

specifically and detailed. Second, not just searching in online, but searching

directly people to people I can make up for the weak points. Therefore, making

business plan and doing it exactly same will guarantee success of my business.

2.0 Method

2.1 Data collection

Internet

- http://www.baskinrobbins.com/content/baskinrobbins/en.html

- http://www.coldstonecreamery.com/

- http://www.iceberryus.com/

Interviews

- Jung, Chillyoung, General Manager

Iceberry

Hangdang dong, 19-9, Seongdong gu, Seoul

02) 2293-7124

- Im, Yoogyeon, Part time worker

Baskin Robbins 31

Hangdang dong, 5-1, Seongdong gu, Seoul

011-226-2886

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2.2 Research objectives from data collection

Internet

- www.baskinrobbins.com : It provides me to which flavors are existing. It gives me

information about the location of their franchiser store.

- http://www.coldstonecreamery.com/ : It makes me know about special methods for

making ice cream. It also mention about their store’s locations.

- http://www.iceberryus.com/ : It provides me today’s people are interested at healthy ice

cream. It gives me their franchiser store’s locations.

Interviews

- Jung, Chillyoung, General Manager: He taught me about their store’s customer’s main

ages, their store’s most busy time, and their store’s most popular menu. Also he

informed me about how they prepare their ingredients.

- Song, Gyeonin, Part time worker: She let me know about their store’s popular ice

cream’s flavor, what time is most crowed. Also she let me know what time they are

provided their ice cream from headquarters.

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3.0 Findings

3.1 Key success factors

My business could be success because of price, location, product and service. First, I start

up ice cream truck not a store. Therefore I have more flexibility of moving than store.

Second, I can provide my ice cream by low price because I will make all of ice cream by

myself. Naturally, the homemade ice cream cost of product will be law than bought from

ice cream factories. Third, I guaranteed the quality of ice cream because I will make all

ice cream with fresh ingredients and clean process. People will attract by delicious and

high quality of my ice cream. Finally, I will provide very good service such as

membership. If people eat my ice cream ten times, I will provide one time for free. Also I

will never lose smiling face during working time.

3.2 SWOT analysis of the business and an alternative

Plan A: Around Wangsimni station, Dongma middle school, Middle

school attached to college of education Hanyang university, and High

school attached to college of education Hanyang university.

Strength Weakness

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There are big franchise ice cream

store within 500m

Opportunities

Can secure young age customer

because of neighboring schools.

There are many floating population

because of Wangsimni station.

There are 367 households live

nearby.

Threats

Plan B: Around Hanyang university station, Hangdang middle school,

Duksu high school.

Strength

.

Weakness

Opportunities Threats

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3.3 Summarization

Questions Ice berry Baskin Robbins 31

Q1. Main age of the user of

this store?

Middle school, high school,

college female students.

10~20 ages and all gender

Q2. What is the most popular

menu in this store?

Tray-Bingsu Based on chocolate flavor ice

cream and blast

Q3. When is the rush hour? Around student’s school closing

time and after meal time.

Around student’s school closing

time and after meal time.

Q4. When is the preparing

time? (supply of ingredients

time)

12o’clock~ 13o’clock Tuesday, Thursday, Saturday

morning.

Q5. Why did you open this

store at this location?

There is Hanyang university,

and Dongma middle school

nearby.

The middle of main street.

4.1 Interpretation

I found important data and factors in interviews, researching data. First,

searching in Baskin Robbins 31’s web page was helpful because they state their

products’ entire flavor. Before I saw that, I planned just a few flavors for selling

but after I was inspired by their diversity flavors, I modify my planning. Second,

web surfing in Coldstone’s home page, I surprise about their method of making

ice cream. They provide mixed ice cream with topping on a frozen granite stone

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and while they mix ice cream, they sing a song. This is pretty shock to me, so I

want to copy them but there is difficulty that looks for the same stone. Therefore,

I just imitate their vibrant and joyful service mind. Third, searching in the

Iceberry’s home page, I was inspired by their eco-friendly making methods and

ingredients. So I decided that my ice cream truck’s ingredients should be high

quality and fresh things. Fourth, after interview with Mr. Jung, I realized that

marketing strategy is very important. This means that, developing proper menu

for each age ranges is necessary. Finally, I have help from Ms. Im. She give me

an idea that what time is proper to open or close.

4.2 Assess the effectiveness of the research

5.0 Conclusion and recommendation

5.1 Identification and Justification

I will choose Plan A rather than Plan B. There are several reasons. First, there are Enter six, shopping center, and E-Mart, huge super market, in Wangsimni station. Therefore, there are much more floating population than Plan B location even though Plan B also has Hanyang University station. Second, there are bunch of residents so it is easy to make a regular customer. Third, there is less competitors such as huge franchiser ice cream shop or frozen dessert shop in Plan A location.

5.2 Competitive edge

My business could be success obviously. I will followed crowd and

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Reference List

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Appendices

Interview 1

A: Me, B: Jung, Chillyoung

A: 안녕하세요. 이 가게를 이용하는 주요 고객의 연령대는 어떻게 됩니까?

B: 저희 가게는 빙과류를 주로 하기 때문에 중고등대학교 여학생들. 여자의 비율이 90%정도

됩니다.

A: 손님이 많은 시간 대는?

B: 학기 중에는 식사 후 한시부터 두시, 학생들이 학교가 끝나는 다섯시와 아홉시

A: 가장 인기 있는 메뉴는?

B: 빙수가 메인 제품이다. 쟁반빙수.

A: 감사합니다.

A: Hello. What is the main age of user of this store?

B: Our store handles frozen desserts so we are popular among middle, high school girl students and also

woman university students. Woman or girl had over 90 percentage of our store’s user.

A: When is most busy or crowed time in your store?

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B: In the term of semester, about one to two o’clock or around after meal time. Also, middle school

students’ finish time about five o’clock or high school student’s finish time around nine o’clock.

A: What is most popular menu in this store?

B: Bingsu is the main item specially Tray-Bingsu.

A: Thank you.

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Interview 2

A: Me, B: Im, Yoogyung

A: 주요 연령층이 어떻게 되요?

B: 시간대 별로 다른 것 같긴 한데요. 중고등학생이나 대학생들인 것 같아요.

A: 그럼 가장 붐비는 시간이 학생들 하교시간 이겠네요?

B: 네, 학생들 하교시간이나 점심시간이요.

A: 가장 인기 있는 메뉴가 뭐예요?

B: 엄마는 외계인이요.

A: 그럼 아이스크림이 공급 되는 시기는 언제예요?

B: 일주일에 세 번 화,목, 토 오전 이예요.

A: 감사합니다.

A: What is the main age of user of this store?

B: It is up to time but main age is middle or high school student and college students.

A: Then, the busiest time or crowed time will be right after they finish school?

B: Yes, after school time or during lunch time.

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A: What is the most popular flavor of ice cream?

B: Chocolate base ice cream.

A: Then when your store supplied ice cream from headquarters?

B: Tuesday, Thursday, Saturday morning.

A: Thank you.

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Map 1

- This map shown the location of my ice cream truck following Plan A

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Dongma middle school

Wamgsimni StationMiddle school attached to college of education

Hanyang University, and High school attached to

college of education Hanyang University.

GAC012 AE#2 Park Sowoon

Map 2

- This map shown the location of my ice cream truck following Plan B

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