NEW BUSINESS

New Business (Winery)



New Business (Winery)

Business Ideas

For a successful business launch, the first step is to screen out the best business idea and prepare a business plan accordingly. A business plan is a working document that sets objectives and strategies of a company with the basic requirements, projects and operations for a specific time frame (McKeever, 2008).

Name of Venture, Vision, & Mission Statement

When the business idea is generated, one should formulate the mission, vision and purpose of existence of an organization. A good way to show these could take the form of a business concept template shown below:

Concept Statement Template For Proposed Business Opportunity

Winery at Commercial Area of New York City (NYC)

Proposed Project Name: Bistro Winery

Background:

The motivation for this business stems from the fact that a vast merchandising knowledge and taste exist for the project. Further, there are profitable opportunities related with the business.

Business Problem:

Getting the required space at a commercial location in New York City. Funding the initial budget in excess of $50000 (own investment).

Vision and Mission

The desired outcome for the business is generating a revenue base above the industry average for the wineries of similar capacity. Justification/Benefits:

Why should/must the project be started now? List reasons

1 Low operational cost. Hence, profitable opportunities for new entrants

2. Availability of debt finance for small entrepreneurs.

3. A return on investment higher than similar businesses

Assumptions/Constraints: List assumptions and constraints

1. Acceptability and popularity of wide variety of wines to be introduced with the launch

2. Getting trained and skilled staff

Resource Needs

Resources Available:

Hard cash of $50000.

Expertise of coffee merchandising

Good public relations (e.g. with wine vendors)

Special Resource/Skill Needs:

Marketing research for new flavours

Finance if budget exceeds initial investment

Estimated Cost: $ 40000

Source of Funding: Self

Estimated Start Date: September 2011

Describe the market

United States has developed a big wine industry in the past few decades. In the past, the wine industry was modest, with slower volume both in consumption and revenue. Presently, however, there are over 23,000 vineyards, of which most have sizes of 100 acres or below. In 2007, grape production was over 939,000 acres (Brown, 2010). In 1999, there were over 2600 wineries; in 2008, they crossed well above 5000. New York occupies second place in production of wine (at about 106 million liters).

Description of Resource Requirements

According to the business template of Bistro Wineries, we will need about $40000 as initial investment. These funds include both the fixed costs of the business structure and the operational costs for the first month of operation (McKeever, 2008). This represents the financial resources of the firm. Additionally, Bistro will need the management experts and business leaders for smooth business operations. The top leadership comprises the Chief Executive Officer or the President of the company, the Vice Presidents and Business Unit managers. Additionally, the services of farm labor, plant workers, quality assurance personal (Tasting room workers), marketing and distribution team, and support staff will also be required. These make up the human resource needs of the ...