For this assignment, create an abstract for your research paper. The abstract is designed as an executive summary of the content of your paper and will allow potential readers to determine if they want to continue reading your research.
The abstract that you create in this assignment will be based on your thesis statement and outline. This abstract does not have to be the final version that you use in your final paper. It is merely used to help you focus on the topics that you will be undertaking in the paper itself.
Submit the abstract as your assignment.
** This is a part of my capstone project, which is building a business plan to open a catering business. I have attached my thesis statement and outline. The thesis and outline is not strong, so ok to build any statements in the abstract that are stronger and I can update the thesis and outline if needed. Feel free to reach out with any questions. Thank you!
Unit 3 Assignment:Thesis Statement and Outline
Jodie Kosloske
BU491-8: Capstone Project
Herzing University
March 27, 2022
Outline and Thesis for a Catering Business Plan
I.Introduction
Opening up a business requires a good assessment of market research. Assessing the market research ushers entrepreneurs into a rare opportunity. The rare opportunity turns into an idea and later becomes a successful business enterprise.
A.Scope
By the end of this capstone project:
We will have understood the business plan (Buchanan n.d). We will also identify vision and mission statements (Buchanan n.d). The business is based in the Milwaukee, WI area for catering and hospitality.
We will have created a thesis to justify the business? operations.
Created a functioning and well-distinguishing entity with strong plans.
B.Thesis: To present a business plan for opening a local catering business. To include an outline of building a business plan with robust marketing and financial plan strategies. To create the core and the sub-questions about the business plan.
II.Business Plan
i)Executive Summary:
JK Catering is a catering business that would be based in the Milwaukee, WI area (Content marketing Institute 2015). The business has major services like business lunches and events, birthday parties, and other minor events. We will sell an event experience and satisfy customers according to their desires.
ii)Company Description:
The business also allows and builds up large events for customers in the region. Other services offered include catering services for wedding ceremonies and baby reveal parties (Hill 2019). The restaurant?s existence is motivated by giving customers a greater experience.
iii)Market Analysis:
Our markets are businesses, families and individuals. We will employ word of mouth, social media campaigns, and local store marketing techniques.
a). Market segmentation:
We will focus on local businesses and word of mouth to start with.
b). Service business Analysis:
We will also focus on organizations like local businesses and charitable organizations.
iv)Products and Service:
Our products are primarily the food we cook to prepare and give to customers. Our services cater to weddings, birthdays, and gender reveal parties (King 2012). We will also order table linens, themed décor options and setup/clean up services.
v)Marketing Plan:
a)Company mission
To offer excellent food complemented with effective and comforting service.
b)Vision
We sell an event experience and satisfy customers according to their desires and consumption benefits.
c)Promotional strategies
i.Use word of mouth to spread information about the business.
ii.Use social media platforms like Facebook and Instagram.
iii.Use massive public education like Newspapers and magazines.
vi)Logistics and Operations plan
The company will use the production equipment and personnel. We will also consider suppliers for raw materials, production, facilities, equipment, shipping, inventory, and fulfillment.
vii)Financial Plan:
Group, business, and family lunches will offer packages as low as $15/person and increase from there based on menu selections and optional services. The dinner menu starting at $20/per person and up. Finally, breakfast starting at $5/person.
III.Anticipated activities
i.Brainstorming activities to draft potential menu and pricing.
ii.Surveys with local businesses on catering needs, including taste testing of potential menu items
iii.Consultation with business experts, such as financial analyst and local business owners.
iv.Thorough research on articles regarding starting a small business.
IV.Hypothesis
Since it is a startup company, there is a very high risk financially, both personally and professionally. In order to mitigate the risk, it will be critical to pull together a solid financial plan and understand the competitive market.
References
Buchanan, E. (n.d.). How To Create A Successful Small Business Plan. Retrieved from Forbes: https://www.forbes.com/sites/forbesfinancecouncil/2018/07/18/how-to-create-a-successful-small-business-plan/?sh=149c0cdd2e94
Hill, B. (2019, Apr 09). How to Start a Small Catering Business. Retrieved from Small Business Chronical: https://smallbusiness.chron.com/start-small-catering-business-4830.html
King, P. (2012). Making catering memorable. Foodservice Director, 25(10), 54-56, 58-59. Retrieved from https://prx-herzing.lirn.net/login?url=https://www.proquest.com/trade-journals/making-catering-memorable/docview/1284347140/se-2?accountid=167104
Small businesses embrace social media in their content marketing: Content marketing institute releases new Research on B2B small business content marketing. (2015, Jan 28). PR Newswire. Retrieved from https://prx-herzing.lirn.net/login?url=https://www.proquest.com/wire-feeds/small-businesses-embrace-social-media-their/docview/1648523719/se-2?accountid=167104
