Sarrica’s Market is a new business located in downtown Moab, Utah. The store is an upscale international grocery and delicatessen with a distinct menu that includes authentic, hard to find ingredients from around the country and the world. It will house a sixteen-person dining area, a kitchen with counter and check out, a grocery/gift area, as well as a public restroom.
Sarrica’’s Market has one mission: to provide Moab with a mix of quality, authentic, difficult to find grocery items, prepared foods, and friendly service. Our store motto is, “eat and enjoy.”
The deli will provide sandwiches, salads or specialty drinks. Gift items will complement the international theme of the store and include a limited selection of kitchen wares, cookbooks, picnic items, and original hand-sewn items and jewelry. Gift baskets are also available at the store and online. All the recipes used in the deli will highlight the grocery items sold in the market.
The country’s specialty and gourmet food market is growing rapidly. Consumers are looking for quality food coupled with a quality shopping experience. Large cities often have sections dedicated to ethnic food and culture. More people are moving to Moab as rural America shifts away from agriculture, natural resources, and to tourism as its main economic source. These new populations are starved for the fine ingredients they were able to purchase in big cities and are looking for a rural solution to this problem. Many Moab residents and visitors expressed their desire for a local gourmet foods store.
Sarrica’s Market has formed alliances with local farms and restaurants as well as international distributors to offer its customers a mix of ‘#8220/shopping local’ and a wide range of gourmet products previously unavailable in this highly-visited rural area. Sarrica’’s Market offers residents a more convenient and appealing alternative to ordering online or carrying fancy groceries back from infrequent trips (a few hours away), especially in the winter.
Sarrica’s projections for net profits rising over the first three year is a good indicator. We expect that the wide seasonal differences in sales in the first two years will be lessened as we grow our local clientele base. This partly accounts for the increasing profitability. These forecasts are based upon the performance of comparable cross-market upscale shops in Moab and general trends within the gourmet food store industry.
To achieve our objectives, the owners of Sarrica’s Market are contributing $24,000 and seeking a $100,000 small business loan. These loans will pay for the start-up costs of the business. They will also be repaid using the cash flow from the business in five years.
1.1 Mission
Sarrica’s Market was established to provide Moab, Utah residents and visitors with an upscale grocery shop, gift shop, or delicatessen that specializes in authentic, high-quality, rare, and hard-to-find grocery items.
1.2 Goals, Objectives
The following are the goals of SarricaՉ۪s Market:
- Get the necessary financing ($24,000 in personal/investor loans and $100,000 in small-business administration loans).
- A service-oriented company should exceed customers’ expectations. This will increase repeat clients by at minimum 20% annually through superior performance, word-of mouth referrals and customer satisfaction.
- Become an established community destination with a customer satisfaction rate of 90% by the end of the first year.
- By the end, you will be cash flow independent.
- Sales of $461900 were achieved in the first year. They increased to $484735 in the second and $508,000 in their third years.
- Allow the founders to earn an income by the end the second year.
- Repay the original loan debt by the end if the fifth year.
1.3 Keys to Success
These are the keys to Sarrica’s Market success:
- Reputation: Every customer who visits our store will return to us and recommend us to friends and family.
Our business will benefit from word of mouth marketing.
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