Introduction
College Pretzel Company (CPC) is a newly founded company that bakes hot soft pretzels for hungry students late at night. The company is a sole proprietorship that a student ventured into as a means of earning money to pay school fees. The company started with the owner as the only operator of the business. The owner was entirely responsible for the production, selling, as well as looking for the market of pretzel.
The business has shown a very impressive performance in the last few years because of its high quality product and good management. Thus, the management sometimes hires extra personnel to assist with some chores from Monday to Saturday when the demand for the pretzel is high (Roger, 1986). The owner aspires to extend the operation of the business to other colleges, as well as making it a multinational corporation like other giant fast food restaurants such as McDonald’s restaurants.
Vision of College Pretzel Company
College Pretzel Company aspires to be the leading company in the world in offering high quality pretzel to students.
Mission Statement
College Pretzel Company is committed in offering high quality and affordable pretzel to its customers. The company is dedicated in hiring very competent employees to assist it to excel in its venture locally and internationally.
Strategy of College Pretzel Company
The owner of College Pretzel Company had identified a need for offering pretzel to hungry students late at night. The owner had realized that most students who extend their studies in the library up to late hours at night often get the college cafeteria already closed. Thus, many of these students end up sleeping hungry for lack of an alternative source of food. After identifying this opportunity, the student realized it as a very appropriate chance to earn extra money to pay for his school fees.
The student bought the essential facilities for running the business, which entailed a mixer, cooker as well as essential ingredients required for production purposes. The student started making pretzel that he sold later at night to his fellow students. The owner gives a topping for free, which can either be a chocolate, cheese, mustard or caramel source for every order made. This is an important strategy for encouraging the students to keep on buying the pretzel.
The owner does most of the tasks of production, as well of selling and marketing the pretzel. The enterprise has performed considerably well of late because of the ability of the owner to be consistent in offering affordable and high quality pretzel to the students. During the peak periods, which are from Monday to Saturday, the owner hires other students to assists him in the business (Roger, 1986).
Following the good performance of the business, the owner will require employing full time employees to assists him in running the business. The employees to be hired should be professionals in hospitality industry and highly competent.
This will be important in enhancing the performance of the enterprise. The company should also consider hiring a person who can assist in marketing the company products within the college. Creating awareness of the company’s products to all the entire college community will enhance the sale of pretzel greatly.
One effective strategy that the marketer can adopt in promoting the company’s product is using the social media such as twitter and face book to promote pretzel to students and other college personnel. As the company continuous to grow, the management should consider looking for a bigger space that they can use for production purposes. Currently, the company is selling 263 orders per month and it plans to triple the sell within the next one year.
One strategy that will help to increase the sales is extending the line of production to start offering products that are complementary to pretzel. The management can opt starting offering soft drinks, tea or coffee together with pretzel. This is a strategic method of promoting the sale of pretzel.
Furthermore, offering soft drinks, tea and coffee together with pretzel at the restaurant will encourage students to visit the restaurant during the day or in the evening to enjoy their products as they chat. Similarly, the management should consider offering healthy foods, which fit to people suffering from diabetics and cardiac related conditions. This consideration will greatly enhance the sales in College Pretzel Company, which will result to high profit realization (Loasby, 2006).
The management and running of a restaurant is demanding in terms of human resource and capita requirement. Because the owner of College Pretzel Company is a student who does not have enough resources needed in extending the company, the student should look for a partner to offer financial assistance, as well as additional skills required to take the company to the next level.
Although incorporating another person will result in sharing of the profits realized, the incorporated person will offer great assistance required to extend the company’s operations. When the company extends its operations into other colleges, the directors should transform it into a public corporation through the sale of shares to get money required to venture into international market (Jennings, 2010).
In conclusion: College Pretzel Company is a new company that has a potential to increase its sales to the entire community in the college, as well as to other colleges. Good management of the enterprise that ensure high quality products and prompt services can propel the venture to a multinational corporation.
Reference List
Jennings, M. (2010). Business: Its Legal, Ethical and Global Environment. Mason, OH:
Southwestern Cengage Learning Loasby, B.J. (2006). Restaurant Industry. Oxford: Oxford University Press.
Roger, E. B. (1986). Kristen’s Cookie Co. Retrieved from www.hbsp.harvard.edu mm