GAC012 Assessment Event 2: Project-Written Report

Business Plan:

Rice cake Cafe-MORÉ

Student’s Name: Weon Yujin

Student ID #: 2012802687

Teacher: Mr. Kim

Due Date: July 16, 2012

Word Count: 2162

GAC012 AE#2 Weon Yujin Student ID

Table of ContentsExecutive Summary.....................................................................................................................................2

1.0 Introduction......................................................................................................................................2

1.1 The objectives of the research.......................................................................................................2

1.2 The context....................................................................................................................................2

1.2.1 Prime function.....................................................................................................................2

1.2.2 Key competitors...................................................................................................................2

1.2.3 Legal structure....................................................................................................................3

1.2.4 Choice of Business...............................................................................................................3

1.3 Background knowledge.................................................................................................................3

1.4 Thesis Statement...........................................................................................................................4

2.0 Method..............................................................................................................................................4

2.1 Data collection..............................................................................................................................4

2.2 Research objectives from data collection......................................................................................4

3.0 Findings............................................................................................................................................4

3.1 Key success factors.......................................................................................................................4

3.2 SWOT analysis of the business and an alternative........................................................................6

3.3 Summarization..............................................................................................................................7

4.0 Discussion.........................................................................................................................................7

4.1 Interpretation.................................................................................................................................7

4.2 Assess the effectiveness of the research........................................................................................8

5.0 Conclusion and recommendation......................................................................................................8

5.1 Identification and Justification......................................................................................................8

5.2 Competitive edge..........................................................................................................................8

Reference List.............................................................................................................................................9

Appendices................................................................................................................................................10

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GAC012 AE#2 Weon Yujin Student ID

Executive Summary

Business name: MORÉ

Prime function: Sell the rice cake and Korean traditional beverage.

Business structure: Sole trader Franchise

Short term business objectives: Make rice cake popular to New York citizens

Reason the business will be successful: Rice cake and Korean traditional tea is strange to foreign people but it is very healthy and has many advantages

Purpose: Introduce Korean traditional food and customer to foreigners

Mission statement: Provide the healthy food for people and introduce Korean traditional thing to foreigners and make these things famous to all over the worlds.

Thesis statement: Rice cake is the Korean traditional food which deserve to get famous.

1.0 Introduction

1.1 The objectives of the research

Nowadays many people have no time to prepare there meal. Therefore many people eat fast-food instead of square meal. Moré can offer the healthy and convenience food for their meal.

1.2 The context

1.2.1 Prime functionThe prime function of Moré is selling the rice cake such as injulmi, baekseolgi, mufigae-deok, ggul-deok and Korean traditional beverage such as hwachae, sikhye, sujeonggwa, green tea.

1.2.2 Key competitorsIn New York there are no rice cake store, however there are many franchise café such as Starbucks coffee bean. Therefore these franchise cafés are the key

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GAC012 AE#2 Weon Yujin Student ID

competitors. Because these cafes sell sandwiches, hotdogs and waffles which can replace the meal like rice cake.

1.2.3 Legal structureI am going to undertake sole trader at first, and few years later I will change to franchise.

1.2.4 Choice of BusinessIn our society, there are many café. However these kinds of café sell similar things such as coffee, smoothie, shaved ice, sandwiches, or waffle. These kinds of food are harmful for our health. However many people often go these kind of café, because these kinds of café is fit for making an appointment or meeting. Therefore my café will provide the place to make an appointment moreover sell some healthy foods such as rice cake and traditional tea instead of coffee or sandwiches.

1.3 Background knowledge

To explain the background knowledge, I will compare two parts: rice cake and bread, coffee and Korean traditional tea. First, the main ingredient of rice cake is rice on the other hands the bread’s main ingredients is wheat. It means that rice cake is more health than bread. Because rice offer less fan than wheat, so when we eat same amount of rice cake and bread, we get more weight when we eat bread. In addition, rice has more carbohydrate than bread, it means when we eat rice cake we feel stuffed earlier than bread. Therefore we can eat more less when we eat rice cake.

Second part is coffee and Korean traditional tea. There are many kinds of coffee such as Americano, Café latte, Cappuccino and also there are many kinds of Korean traditional tea such as ginseng tea, citron tea, ssanghwa tea, sikhye. At first when we see these many kinds of coffee, all of these beverages are from coffee therefore the taste is similar. Moreover, there are many people who have abdominal pain when drink coffee. It is because the coffee stimulates the walls of the stomach. In addition, there are many results of research that coffee is harmful for our health. For example, when we drink coffee we can suffer from insomnia and drinking coffee decreases the flow of the blood to the heart. On the other hands, Korean traditional tea has very variety flavor because of the different ingredients. Moreover these ingredients are very healthy for our health. For example, citron tea is good for cough, digestion and ginseng tea is good for anti- cancer, anemia, and glycosuria.

In conclusion, the café Moré can provide not only the meeting place but also the healthy food. Therefore it will be the biggest café in New York.

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GAC012 AE#2 Weon Yujin Student ID

1.4 Thesis StatementKorea is getting famous, therefore I think the rice cake which is the Korea’s traditional food have to get famous also. This is the why I will make rice cake café in New York City. Also I have confidence about the rice cake. Rice cake has many various types and has many advantages also. Therefore this business will make many benefits not only for me but also for Korea.

2.0 Method

2.1 Data collection

1. Search the information about the rice cake and Korean traditional beverage by using the “Google”

2. Find the information about the big franchise café and the food such as coffee and bread.

3. Conducted the interviews with the owner of the franchise rice cake café named “bizeun”. In this interview, I asked the popular sorts of rice cake and the initial apital investment.

4. Search the estate price of the New York City.

2.2 Research objectives from data collection

After finish the data collection for the rice cake café - Moré, I can find out what I have to do and what is important to be success. In addition, I can figure out the most famous rice cake types and understand the taste of the foreigners. Moreover, I find the benefit of the rice cake and Korean traditional beverage. Therefore I can decide the first stage menu of the rice cake. And after visit the rice café “bizeun” which are running in Korea society, I can decide the interior type and can know the notable point to open the rice cake café. And also I can make list that I have to prepare to make rice cake café and the interior style which are fit to these kind of café. Finally, I search the estate price in New York City and consider the right place

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GAC012 AE#2 Weon Yujin Student ID

3.0 Findings

3.1 Key success factors

Location

The New York City is the center of The Unite State of America. The estate price in Time Square is about 650 dollar per 1 square feet.

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Moré

GAC012 AE#2 Weon Yujin Student ID

The first picture is the view of the Times Square in New York City. And the second picture is the map of the Times Square. Times Square is the most popular place in New York City and there are a lot of theaters for very famous musicals and dramas. Therefore there is a lot of floating population all day long. Moreover there are many offices and stores therefore this place is very fit for café – Moré.

Menu

Rice cakeRice cake is the Korean traditional food which is made up of the rice and other kinds of grinds. Therefore it is healthier than the American food which is made up of wheat such as sandwich, waffle or cereal. Moreover, the reason that rice cake does not spoil easily, we can make rice cake previously and then we can offer this food immediately. By using these advantages, I am going to sell rice cake from early morning. In the morning people have no time to prepare their breakfast so many people do not eat breakfast or eat some fast food. To these kinds of people rice cake will be very good meal for them

Korean traditional beveragesThese kinds of beverages have many advantages. First, it is very healthy for our body. We can prevent some diseases and also cure some diseases by drinking these beverages. Second, it has very delicious and various taste. Each tea use unique ingredients and these ingredients have unique taste. Therefore we can choose the taste which is fit to us. Finally, it has very low calories. When we drink these kinds of tea instead of coffee, we can lose our weight.

3.2 SWOT analysis of the business and an alternative

Strength

New thing will attract foreigner’s attention.

Rice cake is healthy than other kinds of cookies

Rice cake and Korea traditional beverage has low calories

In New York City there are many people

We can replace breakfast into rice cake

Weakness

It can be not matched with foreigner’s taste

Rice cake has the prejudice that it is the old thing and only old people like this

Store cost is expensive due to the price of land and interior

Cost is high because of the high quality ingredients.

Opportunities Threats

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GAC012 AE#2 Weon Yujin Student ID

Introduce Korean traditional thing to foreigner

Trend is change to wellbeing

Making store in New York has some risky factors.

Franchise coffee shop already occupy many percentage of café filed

Plan B

Strength

.Rice cake is famous in Korea. Myeongdong is famous city in

Korea

Weakness

Rice cake has the prejudice that it is the old thing and only old people like this

Opportunities

We can make rice cake more popular.

Threats

Myeongdong’s estate cost is too high

3.3 SummarizationThese days Korea is getting famous because of many factors, such as Korean wave, car, mobile-phone. Because of these factors, Korean foods also get famous. There are some foods which are already got famous such as bulgogi, kimchi. However the rice cake does not get famous yet. Therefore making a rice cake café in New York City is the first step to making famous food for rice cake.

The interviewee who is owner of the rice cake café said that rice cake will attract foreigner’s attention at first, because of the appearance and unique features. And after that they will like this food because of the taste and benefits.

4.0 Discussion

4.1 InterpretationThe advantage of this business is unique. The rice cake is very unfamiliar to foreigners therefore the rice cake will very attractive for them. This point is the key point of this

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GAC012 AE#2 Weon Yujin Student ID

business. Also there are many advantages in rice cake and Korean traditional beverage such as the feature of healthy, many kinds of types. In addition, the location of this store also very suitable for this business. The New York City is the most famous and complicate city in the world. It means that there are many people and these people come from different countries. Therefore when they eat this food in New York City, they can find it in their country and it will be very famous easily. Therefore when I start this business it will be very successful.

4.2 Assess the effectiveness of the research

For Korea economy, this store may drive big profits. Because just open the store in the New York City, many people can see the name of the rice cake and the name of Korea. It means that many people can remember the name of Korea easily and it may improve the national image. These happens drive many benefits not only making the Korea image better but also we other industrial field such as car, mobile phone.

5.0 Conclusion and recommendation

5.1 Identification and JustificationMaking a store in New York City is very expensive and has many risk factors however when this business is success, I can get huge benefits. Therefore I will challenge for this business submit the risky things.

5.2 Competitive edge

As competitive edge, I will make membership coupons. There are two kinds of coupons the first one is that when customer eats any kinds of rice cake or beverage, the store will give one stamp. And when they collect 10 stamps, the store will give one kinds of beverage. The other thing is there are 8 list to customer have to eat, and the customer eat just the 8 kinds of thing the store will give presents such as cup or notebook.

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GAC012 AE#2 Weon Yujin Student ID

Reference List

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GAC012 AE#2 Weon Yujin Student ID

AppendicesQ: There are many kinds of rice cake. Among that many rice cakes, which do you want to sell?

A: I will sell injulmi, baekseolgi, mufigae-deok, ggul-deok. It is beecause these kinds of rice cake are fit for foreigner’s taste.

Q: Why do you want to make your shop in New York City even though you are live in Korea?

A: Because I want to introduce these Korean traditional foods to foreigners.

Q: There are many rice cake café in Korea already, what is your café’s strength?

A: Our café’s strength is creativeness. We will make new type of rice cake every two month.

Q: What is your final goal?

A: My final goal is making rice cake as the staple food for everyone.

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