There will be two pricing variations: Holey Moley intends to fill this market need by increasing our portion sizes and keeping prices low. Jammin juice approached Holey Moley with an offer to establish a mutual discount promotion. We will nonetheless retain a high profit margin due to our prime location, low rent, and excellent supplier relationships.
The products will be made with locally sourced ingredients and will be promoted as having large portion sizes, a cheap price, and a delicious taste. We estimate an average of 10 new food trucks enter the D. If demand begins to outpace supply, Mickey and Pat will consider opening an additional food truck.
However, Holey Moley has secured a prime location on K Street under favorable terms for a 5 year lease in which the rent will remain constant.
By the end of year two in our business plan, we anticipate the completion of the new Chevy Chase business plaza near our planned location on K street. Mexico Mejor, which specializes in burritos and salsa Loco Moco, which specializes in quesadillas Mexico Mejor is our only direct competitor in that we both sell burritos.
However, their burritos are significantly smaller and less delicious. Through our in-depth market research done through polling, we have discovered that one of D. Each of these restaurants offer their products at a higher price than ours and at a serving time that is also much slower.
Establish partnership, secure business loan, begin social media campaign, acquire food truck, and open business. Although there are a variety of food trucks in our location, none offer products similar to Holey Moley. Mailbox Flyers In the first month of operation, Holey Moley will get the word out through mailbox flyers.
Products and Services Our burritos are made from locally sourced ingredients. Customers Customers will include the community of shoppers and professionals in the 5 block radius around K-Street, where our food truck will be located.
Positioning Our food truck is designed to catch the eye of potential customers. Again, Holey Moley will win on portion sizes and taste. Marketing and Sales Overview Holey Moley LLP will market its line of low-priced, high volume burritos, tacos, and guacamole through social media, word of mouth marketing, and mailbox flyers.
Bargaining power of buyers: We use organic and high-quality ingredients to provide our customers with the best tasting burritos and tacos.
Pricing Holey Moley has determined that its target consumer is fairly price sensitive, and therefore looking for a cheaper, higher volume meal. We feel that if the customer experience is comfortable during these months, we may negate the decline in traffic to a reasonable extent.
We hope that this unique selling proposition will be a strong enough incentive for us to retain customer loyalty. He is currently the head chef at a five-star restaurant in Washington D. We have positioned ourselves perfectly to take advantage of these two market segments.
Industry Analysis It is estimated that the food truck industry will be worth 2. The growing trend towards gourmet guacamole allows Holey Moley to maintain a higher price point. In addition, the inclusion of guacamole on our menu gives us a competitive edge.
Hungry professionals looking for a high protein, high value meal. We will also hire two college students to hand out flyers at strategically placed locations throughout Washington D.
The loan will be used to purchase a fully-equipped mobile food preparation vehicle MFPV food truck. Competitive rivalry We expect that the success of Holey Moley will encourage others to mimic our business model. All products will be hand-made on site and at the time of purchase.
Bargaining power of suppliers: Regardless, Holey Moley intends to maintain strict control over distribution to ensure quality. Full, retail price of products Discounted: As Holey Moley becomes successful, prospective food truck owners may begin to copy our business model.
Internet Marketing Marketing through social media will be critical to the success of Holey Moley.be very costly, but there are many books out that show small business owners how to do effective research by themselves. In your marketing plan, be as specific as possible; give statistics & numbers and sources.
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