Abstract
Every revision to the business plan is made with the company’s best interests in mind and serves to further the company’s pursuit of its stated objectives. A company will only succeed with good long-term planning and poor operations and maintenance. The strategy simplifies the situation and provides an answer to the issue. In addition to solving the firm’s problems, a well-thought-out business plan may make it crystal clear what that business’s objectives are, how they will be attained, and when they will be put into action. The business plan is like the seed germinating into a thriving enterprise; thus, it is essential for successful farming. Each team member has the opportunity to grow in theoretical knowledge and hands-on experience as they work together to craft the company’s business strategy. Their personal and professional lives will benefit from this newly acquired information.
Introduction
The Vital Fruit Juice Company produces nonalcoholic beverages. Its primary products are fruit drinks containing all the essential vitamins required by humans, thus the name vital. There are several nonalcoholic drinks now available on the market. The majority of them lack nutritional value since they are composed of chemicals that are hazardous to the customer. Vital fruit juices are produced from pure fruit with the addition of permitted preservatives to extend their shelf life. The three tastes of vital fruit drinks are mango, pineapple, and passion. These are the most widely available varieties of fruit juices on the market. The firm plans to boost the number of flavors to six shortly by releasing watermelon, peach, and orange tastes. These are in-demand fruits, and the business intends to produce them after the first three have begun to perform well on the market (Olson & López, 2009).
Company Overview
The Vital Fruit Company is a leading manufacturer and distributor of premium, organic fruits, and vegetables. Founded in 1996, the company has grown to become one of North America’s most prominent purveyors of organic produce. With its headquarters in Vancouver, Canada, the Vital Fruit Company distributes its products to over 3,000 retailers in the United States, Canada, and Mexico. The company’s mission is to provide consumers with the freshest and highest quality products available while, at the same time, making sure that its operations have a positive impact on the environment. To achieve this goal, the company only sources its fruits and vegetables from certified organic farms, which are inspected regularly to ensure that they follow sustainable farming practices. Additionally, the company works with local farmers’ markets across the continent to provide a wide variety of seasonal produce. The Vital Fruit Company also takes great pride in giving back to the community. Through its charitable arm, the Vital Fruit Foundation, the company provides free healthy meals to low-income families and needy individuals. The company also sponsors a variety of educational initiatives for children, including its “Kids in the Garden” program, which teaches kids about the importance of eating healthy and how to grow their food.
Market Analysis
The non-alcoholic beverage market is a rapidly growing industry with an estimated global market size of $11.7 billion in 2020 and is projected to reach $18.2 billion by 2026. The main drivers of growth are increasing health consciousness, the availability of new products, and an expanding global market. The increasing demand for healthier, natural beverage options is expected to drive the market. Consumers are becoming increasingly aware of the health benefits of natural ingredients and are looking for products that provide them with a healthy alternative to sugary, carbonated beverages. The company’s target market is health-conscious consumers, particularly those looking for natural, low-sugar beverage options. The company will focus on marketing its products to health-conscious individuals, such as athletes, fitness enthusiasts, and those looking to lead a healthier lifestyle.
Marketing Plan
The company’s marketing plan will focus on creating a solid brand identity. The company will focus on developing a recognizable logo and brand name to differentiate itself from other non-alcoholic beverage producers. The company will use various traditional and online marketing techniques to reach its target market. This will include print advertisements in health-related magazines, online advertising, and social media campaigns. The company will also focus on creating relationships with key influencers in the health and fitness space to help build brand awareness. The company will focus on creating an online presence through a website and social media accounts. The website will showcase the company’s products, provide information about the company and its mission, and allow customers to purchase products online. The company’s social media accounts will be used to engage with customers, provide information about the company, and promote products.
Financial Plan
The financial plan for Vital Fruit Company will focus on securing the necessary funds to launch and grow the business. The company plans to raise $1 million in capital to cover the costs of product development, marketing, and operations. The company expects to generate $2 million in revenue in its first year of operations and is projected to reach $5 million in revenues by its third year. The first step in creating a financial plan for Vital Fruit Company is to make projections for the company’s income and expenses. To make these projections, the company needs to consider potential sales, the cost of goods sold, and other costs associated with running the business. This information should be used to create a budget to help the company stay within its financial boundaries. The second financial plan step is determining the company’s financing needs. This could include getting a loan, raising capital from investors, or working with a partner. A combination of these options may be necessary depending on the company’s needs. The third step in the financial plan is establishing an accounting and record-keeping system. This includes setting up a system to track income and expenses and creating an internal control system to ensure the accuracy of financial information. It also includes setting up a system to track customer payments and accounts receivable. These records should be regularly reviewed to ensure they are accurate and up-to-date. Finally, the financial plan should include a plan for how to use the company’s profits. This could include reinvesting in the business, paying dividends to shareholders, paying down debt, and creating a reserve fund.
Trends in the non-alcoholic beverage company
Several developments and advancements are occurring in this field. There are several fruit beverage trends in this area. Most enterprises have eliminated the use of chemicals in the production of fruits. They use actual fruit in the production of their goods. This has made the competition much more intense than previously. People might select between artificial juice and more costly genuine fruit juice. This is no longer the case. The second development is packing. Plastic bottles are gradually losing market share. Various factors have led to the usage of alternative packaging materials. Plastic bottles, which are inexpensive to make, are not disposable, and are renowned for harming the environment. Therefore, essential fruit juices will be sold in more expensive tetra packs (Olson & López, 2009).
Despite these tough tendencies, the company’s selection of fruit juice as a nonalcoholic beverage is crucial. The primary reason is that the items are doing well in the marketplace. The high demand for fresh fruit juice indicates that the firm will produce many goods. Secondly, the business is positioned near an apple orchard. Fresh fruits are abundant on the lower shore (Olson & López, 2009). Thirdly, producing alternative nonalcoholic drinks, such as carbonated ones, is costly. Due to the dominance of a few well-known market players, competition for such beverages is likewise quite fierce. This firm hopes to expand in the future. e. For its continued development, fruit juices are the optimal choice. They are always accessible and straightforward to get b. They need little effort to manufacture or sell. In the past, the industry has performed well. All fruit juice companies declare profits annually; thus, if Vital Fruit Juices develops excellent goods, they will be accepted on the market, and the firm will begin to record profits within two years. s. Two years following the product’s launch, earnings will increase, leading to new items on the market and corporate expansion (Olson & López, 200). 9).
Strategic Position
The strategic stance of the bet is to provide the best product. Since the product is new to the market, many consumers will switch to utilizing it if it is successful. Producing a superior product is complex, but it is possible. The management will have to guarantee that only the finest fruits are used in the production of the product, and the packaging should be environmentally friendly. The product will distinguish itself, and new consumers will desire a taste. Profits may be obtained sooner than expected if the product is the greatest and performs well on the market (Rothaermel, 2013).
Distribution channels
This product is best distributed via indirect channels. Other categories fall under this channel, but the two-tiered distribution route utilized for fast-moving items is the most advantageous for essential Fruit Juice. This product is very perishable; thus, the sooner it reaches the market, the better for all customers. Fruit juices will be sold in bulk to wholesalers, who will then sell them to retailers, who will then sell them to consumers. This beverage will be suitable for all merchants, regardless of size. In sports events, merchants must carry the goods to the customers (Dent, 2011). This region has a high consumption of healthy beverages. Restaurants and grocery shops will buy the goods from wholesalers, then sell them to the final consumer. Vital fruit juice will not be sold to customers directly.
Risks
Uncertainty is something that every company has to deal with. The regulatory environment presents a significant threat to the beverage industry, especially the nonalcoholic beverage sector. There are rigorous inspections of all consumables. The most significant threat is that the items will not last long enough in storage. This increases the likelihood that they will not be purchased before they expire. There are stringent regulations regarding the use of preservatives in food and drink. In the event of a violation, the corporation may incur penalties for using excessive preservatives. Financial risk is the second category. All money-related matters need to be handled by management. The biggest threat is that the company will only collapse if its finances are well managed. Reputational risk constitutes the third category (Sadgrove, 2014). The company’s standing in the market might be jeopardized if its operations fail or its output could be better. The public will begin to distance themselves from the brand.
Vital Fruits Company will take precautions against overproduction and proper use of preservatives in order to comply with all applicable regulations and reduce the likelihood of a fine. They will only make more if there is a real need for it. The administration will competently handle the financial resources. Having a budget that guarantees a steady flow of cash in the business is the most excellent method to lessen the impact of any potential adverse outcomes. Creating high-quality goods may reduce exposure to reputational risk. Because it is recognized for making high-quality goods, consumers will want to be linked with the brand (Sadgrove, 2014).
Target Market
The target market for Vital Fruit Company for non-alcoholic beverages is people who are health conscious and looking for a healthier alternative to traditional sugary drinks. This target market consists of people from all walks of life, including those who want to replace their current sugary drinks with healthier options and those looking for something new and unique. The target market for Vital Fruit Company includes individuals trying to lead a healthier lifestyle and looking for a drink that tastes great and provides them with the vitamins and nutrients they need. These individuals are looking for a drink that has no artificial ingredients and is free from added sugars and preservatives. They are looking for a refreshing, natural beverage low in calories and contains real fruit juices, vitamins, and nutrients. Vital Fruit Company also appeals to those looking for something different and unique. They are looking for a product that stands out from traditional sugary drinks and offers more than just the same old soda or juice. They want something made with natural ingredients and a healthier alternative to traditional drinks. Finally, Vital Fruit Company appeals to those looking for a convenient and easy-to-carry beverage. These individuals are looking for something that can be taken on the go or easily stored in a fridge. They are looking for something that is easy to prepare and can be enjoyed anytime, anywhere.
Conclusion
In conclusion, the Vital Fruit Company is a young company with the mission of giving people concerned about their health natural, healthier beverage alternatives. The firm’s goals, objectives, and strategies for success are outlined in the business plan for the company. A current market study for non-alcoholic drinks, an explanation of the company’s marketing strategy, and a financial plan for acquiring the required money to establish and expand the firm are all included in the plan. The Vital Fruit Company has the potential to become a market leader in the non-alcoholic beverage industry if the appropriate strategy and implementation are used.
References
Dent, J. (2011). Distribution channels: Understanding and managing channels to market. London: Kogan Page. w York: McGraw-Hill Irwin.
Olson, J. S., & López, C. (2009). Build your beverage empire: Develop, market, and sell your beverages. S.l.: Cube17, Inc.
Rothaermel, F. T. (2013). Strategic management: Concepts. Ne
Sadgrove, K. (2014). The complete guide to business risk management. Farnham: Gower
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