Class Presentations On Crucial Conversations Philosophy Essay

Class Presentations On Crucial Conversations Philosophy Essay Consider our class presentations on Crucial Conversations. Please identify and define the key elements of a crucial conversation. What makes these conversations difficult for people and what can you do to enhance your ability to have an effective crucial conversation? On that note, what makes for an effective conversation? A crucial conversation is a discussion between two or more people where stakes are high, opinions vary, and emotions run strong. When we face crucial conversations, we can do one of three things: We can avoid them, we can face them and handle them poorly, or we can face them and handle them well. Ironically, the more crucial the conversation, the less likely we are to handle it well. We often hold things inside by going silent until we can take it no longer-and then we drop a bomb. In short, we move between silence and violence-we either dont handle the conversation, or dont handle it well. We may not become physically violent, but we do attack others ideas and feelings. When we fail a crucial conversation, every aspect of our lives can be affected-from our careers, to our communities, to our relationships, to our personal health. When a conversation turns crucial, we either miss or misinterpret the early warning signs. The sooner we notice were not in dialogue, the quicker we can get back to dialogue and the lower the cost. As you pull out of the content of a conversation and learn to look for the conditions of dialogue, pay attention to early warning signs. Learn to look for when a conversation becomes crucial. A large part of this is watching your actions and emotions, as well as the actions and emotions of the other person. Paying attention to both the content of the discussion and how people are acting and feeling is no easy task. But its an essential part of dialogue. As long as your intent is pure and you learn how to make it safe for others, you can talk to almost anyone about almost anything. The key is to make the other person feel safe. To do this, there are two things the person needs to know: First, they need to know that you care about their best interests and goals. This is called mutual purpose. Second, they need to know that you care about them. This is called mutual respect. When people believe both of these things, they relax and can absorb what youre saying; they feel safe. The instant they dont believe them, safety breaks down and silence or violence follows. To restore safety in the face of silence or violence, you must restore mutual purpose and respect. When we become upset, our most common reaction is to defend ourselves and place the blame on someone else. As convenient as it is to blame others for pushing our buttons and causing us to become upset, its not exactly true. The key to how we feel lies in the stories we tell. These stories consist of our guess as to why people do what they do. As we become emotional, our story seems to be What is the worst and most hurtful way I can take this? This negative spin escalates our emotions and causes us to do the worst when it matters the most. To break away from your volatile emotions, you must rethink the conclusions you drew and the judgments you made. That requires you to tell the rest of the story. N ew stories create new feelings and support new and healthier actions. Better still, new stories often encourage you to return to dialogue. You have to know how to speak without offending and how to be persuasive without being abrasive. The five skills help us do just that to confidently state our opinions and humbly and sincerely invite others to do the same. The five skills that help us share our tough messages are called STATE: Share your facts Tell your story Ask for others paths Talk tentatively Encourage testing As we see others moving to silence or violence-sharing mostly stories or very little at all-it helps us stay in dialogue if we can encourage them to share their entire Path to Action, or the explanation of how emotions, thoughts, and experiences lead to our actions. We have to find a way to move others back to their facts. We typically join them at the end of their Path to Action. They show us their feelings and share their stories, but we may not know what they actually observed. We know what they think, but we dont know what we or others may have done. When others go to silence or violence, actively explore their path. Exploring helps others move away from harsh feelings and knee-jerk reactions and toward the root causes of those feelings and reactions. It also helps curb our own defensive response. Rather than ask, Whats the worst and most personal way I can take this? (leading to defensiveness), we should ask, Why would a reasonable, rational, and decent person think or feel this way? (leading to curiosity). Its hard to feel defensive and curious at the same time. Finally, it takes us to the only place where the feelings can be resolved: The source (the facts and story behind the emotions). If you dont take action, all crucial conversation is for nothing and will eventually lead to disappointment and hard feelings. Always agree on when and how follow-up will occur. It could be a simple e-mail confirming action by a certain date. It could be a full report in a team meeting. It could be just one report upon completion, or it could be progress checks along the way. Regardless of the method or frequency, follow-up is critical in creating action. There is no accountability if there is not an opportunity to account for action. Document your work: Effective teams and healthy relationships are supported by records of the important decisions made after difficult dialogues, and the assignments agreed upon. Good teams revisit these documents to follow up on both the decisions and the commitments. When someone fails to keep a commitment, candidly and directly discuss the issue with him or her. Please respond to FOUR of the questions below: 3. Consider mediation as a form of alternative dispute resolution (ADR). What are the advantages of mediation relative to other forms of dispute resolution such as courts and arbitration? What are the key attributes of an effective mediator? In Prosando, the mediator attempted to move the parties from a rights-based approach to an interests-based approach. What does this mean? How did he do this? Why did he do this? (Be sure to use the  Prosando video as an example to support your points as well as other course info). Mediation is a process in which a neutral third party (the mediator) assists the parties in resolving their dispute by facilitating negotiation. The mediator has no authority to impose a settlement, and the parties are under no obligation to reach agreement. Mediation proceedings are generally private and confidential. Benefits of successful mediation vary, depending on the parties needs and interests. The following are some common advantages of mediation: Parties are directly engaged in negotiating the settlement: Parties in mediation have the opportunity to directly air their views and positions, in the presence of their adversaries. The process can thus provide a catharsis for the parties that can engender a willingness to resolve the differences between them. Moreover, since parties are heard in the presence of neutral authority figures, the parties often feel that they have had their day in court. In the entertainment industry, there are lots of egos at stake. Clients that have suffered may want an opportunity to tell their story, and clear up any misrepresentations that are exploited to the public. Parties enhance the possibility of continuing their business relationship after resolving the dispute: Litigation process can be very stressful, time consuming, costly and often personally painful. At the end of litigation, the parties are often unable to continue or restart a relationship. In contrast, mediation disputes can be resolved in a manner that saves a business or personal relationship that; ultimately, the parties would prefer to preserve. Many relationships in the entertainment industry are of a collaborative nature, and it is pretty common for the parties in dispute to have had some success in prior artistic collaborations. If the creative parties are able to overcome the hurdle of the dispute through mediation, there is the potential that the parties can continue producing successful artistic endeavors. Creative Thinking and Problem Solving. Litigation can never resolve both parties issues in a way that is simultaneously favorable to both parties. In a mediation, all parties involved can brainstorm together to find solutions that address most, if not all, of the issues that are presented in the mediation. As stated earlier, people in the entertainment industry are creative by nature, and are known to think outside of the box. Mediation should be the least foreign process to anyone involved in any aspect of the entertainment industry. Mediation saves money through reduced legal costs and staff time: By resolving disputes earlier in mediation rather than later in litigation, parties can save tremendous sums in attorneys fees, court costs and other related expenses. Mediation Helps in Complicated Cases: When the facts and/or legal issues are particularly complicated, it can be difficult to sort them out through direct negotiations, or during trial. By contrast, mediation provides an opportunity to break down the facts and issues into smaller components, thereby enabling the parties to separate the matters that they agree upon, and those that they do not yet agree upon. The mediator can be indispensable to this process by separating, organizing, simplifying and addressing relevant issues. Mediator is an important role in Mediation. In the Prosando case, the mediators goal is to help the parties settle their difference in a manner that meets their needs and is preferable to the litigation alternative. An experienced mediator can serve as a sounding board, help identify and frame the relevant interests and issues of the parties, help the parties test their case and quantify the risk/reward of pursuing the matter, and, if asked, provide a helpful and objective analysis of the merits to each of the parties, foster and even suggest creative solutions, and identify and assist in solving impediments to settlement. This is often accomplished by meeting with the parties separately in private caucuses, as well as in a group, so that all participants can speak with total candor during the mediation process. The mediator can also provide the persistence that is often necessary to help parties reach a resolution. To obtain interests, determine priorities and develop trust, the med iator in Prosando case used various questioning techniques. Since parties may be reluctant to disclose information that weakens their own insistence on positions, the mediator must dig for information and will typically start such inquiry with open-ended questions. Important open-ended questions used by mediator were: What do I need to know to understand this matter? Narrower or focused clarification questioning will come later during the mediation. As part to bring out hidden concerns and interests, mediator carefully listens to responses and pursues critically important follow-up questions. Follow-up is particularly important when the speaker reveals a goal or interest without specifying the reasons. Follow questions assure the revelation of the speakers priorities rather than ones the mediator might assume or gather. For example, after Prosandos president said We have to move quickly, the mediator asked, Why is time so important? The mediator builds trust and assures the particip ants that he accurately understands the concerns and interests by using the active listening techniques. Active listening empathetically acknowledges what a party has said by reflecting back the essence of the statement with understanding but without evaluation. Active listening assures speakers that they have been understood, an important component of trust. Another effective technique that the mediator in the Prosando case uses was reframing. When mediators believe a partys interest or priority would be totally unacceptable to the opponent and couldnt form the basis of an agreement, he might try to reframe the interest into acceptable terms that could become part of a settlement. 4.   Based on Professor  Cialdinis six approaches to influence and persuasion, please identify and describe 3 of those and how and why they should work. How you can apply them in your work life? Reciprocity As humans, we generally aim to return favors, pay back debts, and treat others as they treat us. According to the idea of reciprocity, this can lead us to feel obliged to offer concessions or discounts to others if they have offered them to us. This is because were uncomfortable with feeling indebted to them. For example, if a colleague helps you when youre busy with a project, you might feel obliged to support her ideas for improving team processes. You might decide to buy more from a supplier if they have offered you an aggressive discount. Or, you might give money to a charity fundraiser who has given you a flower in the street. One of the reasons reciprocation can be used so effectively as a device for gaining anothers compliance is its power. The rule possessed awesome strength, often producing a yes response to a request that except for an existing feeling of indebtedness would have surely been refused. Liking People prefer to say yes to those they know and like, Cialdini says. Physical attractiveness, similarity, and familiarity are three levers that can be employed to increase this liking factor. When looks are not a significant issue, we like people that are similar to us, whether its similar opinions, personality traits, background, or life-style. So, smart persuaders dress like their targets, claim to have (or actually develop) similar backgrounds, lifestyles, attitudes, and beliefs. Scarcity When we are convinced that an opportunity or thing is limited in its availability, we are more easily persuaded to want it, and to take the actions necessary to get it. This principle says that things are more attractive when their availability is limited, or when we stand to lose the opportunity to acquire them on favorable terms. For instance, we might buy something immediately if were told that its the last one, or that a special offer will soon expire. Moreover, a sudden increase in scarcity is more persuasive that constant scarcity, and, if the sudden increase is due to demand for the item from others, it is more persuasive still. 5.  Ã‚  Ã‚  Ã‚   Identify and explain when contingent contracts or contingent provisions in a contract, might be useful to get a deal done. Referring to the article: Betting on the future: The virtues of contingent contracts: Harvard Business Review, Sep/Oct99, Vol. 77 Issue 5, p155-160, identify the benefits and issues to be aware of when considering contingent provisions or contracts. When contingent contracts or contingent provisions in a contract is useful to get a deal done: Bypassing Biases: Contingent contracts offer a different approach to solving the bias problem. By enabling each side to bet on its bias, the contracts remove the biases as sources of contention and ultimately have the effect of canceling them out altogether. Consider, for example, one of the most common biases affecting negotiators: overconfidence. Companies, like individuals, tend to have an irrational degree of confidence in their own abilities and, as a result, they tend to overestimate the likelihood of achieving positive outcomes. In a contingent contract, each side translates its overconfident assumptions into a wager on the future. The outcome of the wager tends to fall between the two extreme positions, creating a rational result without requiring either party to sacrifice its firmly held bias. Another bias common in negotiations is egocentrism, which occurs when negotiators hold self-serving perceptions about the fairness of their position. Here, too, contingent contracts can defuse the tension and create a rational outcome. Contingent contracts counter biases by, in essence, indulging them. They establish two contrasting future scenarios, each reflecting one partys biases. Because each side anticipates that its scenario will be the one that plays out, each has a strong incentive to accept the contract. In effect, contingent contracts allow negotiators to be flexible without feeling that theyve compromised. Diagnosing Deceit: What makes information asymmetry so discomforting to companies is that it raises the possibility of deceit. Indeed, the fear of deceit can be a major impediment to all sorts of business agreements. Contingent contracts are a powerful means of uncovering deceit and neutralizing its consequences. Reduce Risk: Using a contingent contract to share risk often has an important additional benefit: it creates enormous goodwill. On the one hand, the contract provides a safety net, limiting each companys losses should an agreement go unexpectedly awry. On the other hand, it reduces the possibility of one company earning a windfall at the others expense. A contingent contract thus tends to enhance the trust between the parties, setting the stage for mutually beneficial negotiations in the future. Companies can also use contingent contracts to reduce the risk their customers assume when they purchase a new and untested product. Motivation: Another the benefits offered by contingent contracts is that they motivate parties to perform at or above contractually specified levels. Thats the driving force behind the use of contingent contracts in all kinds of compensation arrangements, from sales commissions to stock options. Sports teams and entertainment companies routinely use contingent contracts to motivate athletes and artists, particularly those who have shown a lack of motivation in the past. Contingent contracts are useful not just for motivating individuals, they can also motivate companies. While we believe that contingent contracts are valuable in many kinds of business negotiations, theyre not right in every situation. Managers should keep three points in mind: First, contingent contracts require continuing interaction between the parties. After all, the final outcome of the contract will not be determined until sometime after the initial agreement is signed. Therefore, negotiators need to consider the nature of their future relationship with the other party. If the parties are seeking a spot transaction, or if theres outright ill will between the two, they should probably not enter into a contingent contract. Second, negotiators need to think about the enforceability of a contract. Under a contingent contract, it is probable that one or more of the parties will not receive its full value up front. In some cases, the deferred value may represent a significant portion of the overall value. What if the loser of the bet refuses to pay up? What should the winner do? There are many ways to solve such issues-placing money in escrow, for instance. Our main message is, dont bet if you cant collect. Third, contingent contracts require transparency. The future event the parties bet on must be one that both sides can observe and measure and that neither side can covertly manipulate. Vague bets set the stage for different interpretations later. The terms of the bet should be clearly delineated in the contract. 6.  Ã‚  Ã‚  Ã‚   Consider the article The Chinese Negotiation Harvard Business Review, Oct. 2003, Vol. 81 Issue 10, p. 82-91. Based on that article, identify and describe 3 concepts you should be aware of in order to negotiate effectively in China. The first concept in Chinese Negotiaitons is Guanxi (Personal Connections): In fact, personal connections doesnt do justice to the fundamental, and complex, concept of guanxi. While Americans put a premium on networking, information, and institutions, the Chinese place a premium on individuals social capital within their group of friends, relatives, and close associates. Though the role of guanxi is fading a bit against the backdrop of population mobility and the Wetsernization of some Chinese business practices, it remains an important social force. More often than not, the person with the best guanxi wins. Heres an example of how guanxi works. Upon learning that China Post Savings Bureau planned to modernize its computer network, C.T Teng, the general manager of Honeywell-Bulls Greater China Region, asked his Beijing sales director and the China Post executive were old university friends, they has guanxi. That connection enabled Teng to invite the China Post executive to a partners forum at Honeywell-Bull headquarters in Boston. He also invited the CEO of Taiwans Institute of Information Industry to the event. Over the course of the meeting, Teng proposed a banking system using Honeywell-Bull hardware and Taiwan Institute software to China Posts CEO, and the deal was accepted. Good Guanxi also depends on a strict system of reciprocity, or what the Chinese call hui bao. This does not mean immediate, American-style reciprocity: I made a concession, and I expect one in return at the table that day. In China, theres no hurry; agrarian rhythms run long. Favors are almost always remembered and returned, though not right away. This long-term reciprocity is a cornerstone of enduring personal relationships. Ignoring reciprocity in China is not just bad manners; its immoral. If someone is labeled wang en fuyi (one who forgets favors and fails on righteousness and loyalty), it poisons the well for all future business. The second concept we should be aware of is Zhongjian Ren (The Intermediary): Business deals for Americans in China dont have a chance without the zhongjian ren, the intermediary. In the US, we tend to trust others until or unless were given reason not to. In China, suspicion and distrust characterize all meetings with strangers. In business, trust cant be earned because business relationships cant even be formed without it. Instead, trust must be transmitted via guanxi. That is, a trusted business associate of yours must pass you along to his trusted business associates. In China, the crucial first step in this phase of negotiation, called nontask sounding, is finding the personal links to your target organizations or executive. Those links can be hometown, family, school or previous business ties. Whats crucial is that the links be based on personal experience. For example, you call your former classmate and ask him to set up a dinner meeting with his friend. Expensive meals at nice places are key. If things go well, his friend accepts the role of zhongjian ren and in turn sets up a meeting with your potential client or business partner, whom he knows quite well. A talented Chinese go-between in indispensable even after the initial meeting takes place. Consider what happens during a typical Sino-Western negotiation session. Rather than just saying no outright, Chinese businesspeople are more likely to change the subject, turn silent, ask another question, or respond by using ambiguous and vaguely positive expressions with subtle negative implications, such as hai bu cuo (seems not wrong), hai hao (seems fairly all right), and hai xing or hai key i (appears fairly passable). Only a native Chinese speaker can read and explain the moods, intonation, facial expressions and body language Chinese negotiators exhibit during a formal negotiation session. Frequently, only the zhongjian ren can determine whats going on. When an impatient Westerner asks what the Chinese think of a proposal, the respondents will invariably offer to kan kan or yanjiu yanjiu, which means, Let us take a look or Let us study it even if they think the proposal stinks. This is where the zhongjian ren can step in because he is an interpreter not so much or words as of cultures. Often, the two parties can say frankly to the intermediary what they cannot say to each other. In China, the intermediary not the negotiator first brings up the business issue to be discussed. And the intermediary often settles differences. Indeed, we have seen more than one zhongjian ren successfully deal with divisive disagreements. The following is one such case: A VP of a New York-based software company went to Beijing to negotiate a distribution contract with a Chinese research institute. Having attended meetings arranged by the intermediary a former senior executive with the institute the VP was pleased with the progress during the first two days. But on the third day, the two sides became embroiled in a fruitless debate over intellectual property rights. Feeling they were losing face, the Chinese ended the meeting. That night, the VP and the China country manager met with the intermediary. The following day, the intermediary called the head of the institute and worked his magic. In the end, both sides agreed that the intellectual property rights were to be jointly owned, and the contract was signed. Another important concept in Chinese Negotiation is Jiejan (Thrift): Chinas long history of economic and political instability has taught its people to sae their money, a practice known as jiejan. According to market research firm Euromonitor International, mainland Chinese save nearly four times as much of their household income as Americans do. The focus on savings results, in business negotiation, in a lot of bargaining over price usually though haggling. Chinese negotiators will pad their offers with more room to maneuver than most Americans are used to, and they will make concessions on price with great reluctance and only after lengthy discussions. In fact, we have often seen Americans laugh at the Chinese base price or get angry at unreasonable Chinese counteroffers. To make matters worse, the Chinese are adept at using silence as a negotiation tactic. This leaves Americans in the awkward position of negotiating by asking questions, directly or through the intermediary. In defending price positions, the Chinese use patience and silence as formidable weapons against American impatience and volubility. Westerners should not be put off by aggressive first offers by the Chinese; they expect both sides to make concessions eventually, particularly on prices.

Jazz :: essays research papers

The conceptual idea of humanism has existed since before the years of Christ. Biblical records state that when man was created he was made in the image of God. This image has been passed down throughout the civilizations of Greece ,Egypt, and Roman times and it has been passed down to our civilization of today. The evidence of this is in the art of yesterday and the way we view art of today. The way we view art today is in such a way that we feel and conceptualize what we create. We create things in the image of how we view our life, our civilization, and our status in this civilization. In applying the things stated in the previous thought to the human life the result will be art . Culture is a distinct component of what society is. Culture is in all essence what culture does. The whole purpose of culture is to in a way define a specific race or creed. Culture is what makes us unique and very individual. An example of this is myself and my cousin named Brandon. We are both in the same family and we both have been raised with the same values but what makes us different is the culture we have adopted in our lives to help us define the way we feel about ourselves and the way we feel about society. I feel as if the afro-American race is moving in a progressive manner towards unity and he feels as if the Afro-American race as a whole is moving towards separation by the complexion of their skin. The culture that I have adopted has shaped my views and ideas and the culture he has adopted has shaped his thoughts and ideas. My ideas are not better than his nor are his better than mine ,just different. Civilization is defined as many things but you can only define what is civil for your own civilization. Many people have a definition of what a civilization is but when they make this definition it is by their own standards which is wrong. A civilization is a place or group of people who can defend themselves from enemies, get or create a quantity of food, establish a currency, and develop a trade with others. In America we view life as a sacred and very precious thing . In other countries death is viewed as the

Why I Want To Attend College :: College Admission Essay

My purpose and goals in attending college is to make something of my life. Noone want's to be a nobody. But sometimes it takes time in order for one to realize this.   Ã‚  Ã‚  Ã‚  Ã‚  Upon graduation from highschool, I, like the majority of other highschool graduates, had no clue what direction my life was heading or even what I wanted to become. So after graduation I decided to explore my options at the University of Pittsburgh. Wow, was this a mistake. Not only was the college to big for my own well being, but the big University provided too many distractions. This is why I feel I have finally taken the right and first step in securing my future.   Ã‚  Ã‚  Ã‚  Ã‚  Currently, I am attending Waynesburg college in Waynesburg, Pennsylvania, majoring in computer science and minoring in business. I have always had a fascination when it comes to computers and I think that this is a very good

The Death Penalty Is Dead Wrong :: Capital Punishment

Why the Death Penalty is Dead Wrong Most people argue that the death penalty is not a form of cruel and unusual punishment. However, this is extremely inaccurate. Electric chair victims can take up to 14 minutes to die, maintaining full consciousness as their flesh begins to scorch and burn off. During lethal injection, "even a slight error in dosage or administration can leave a prisoner conscious but paralyzed with pain, serving as a witness for his own demise." The following is an eye witness account of an Arizona gas chamber execution given by Supreme Court Justice John Paul Stevens: "When the fumes enveloped Don's head he took a quick breath. A few seconds later, he looked again in my direction. His face was red and contorted as if he were attempting to fight through tremendous pain. His mouth was pursed shut and his jaw was clenched tight. Don then took several more quick gulps of the fumes. His body started convulsing violently and his skin turned a deep red...the viens in his temple and neck began to bulge until I thought they might explode. After about a minute, Don's face leaned partially forward, but he was still very conscious. He was shuddering uncontrollably and his body was racked with spasms. His head continued to snap back. His fists were clenched tightly. After several more minutes, the most violent of the convulsions subsided. At this time, the muscles along Don's left arm and back began twitching in a wavelike motion under his skin. Spittle drooled from his mouth. Don Harling took exactly ten minutes and 31 seconds to die. Approximately three months later, he was found innocent." And it wasn't the first time. Amnesty International sites that "from 1900 to 1985 over 350 people sentenced to death were later found to be innocent of the crimes charged. Some excaped execution by only minutes, but 23 were actually executed. Within the last 20 years, 54 Americans under sentence of death have been released because of evidence of their innocence." Unlike a life imprisonment, death offers no second chance. If new evidence surfaces after the person has been executed, it's too late to do anything about it. The death penalty doesn't save tax payers any money, either. Many people have the misconception that criminals should not be allowed to "rot in jail" wasting tax payers money. However, a study conducted by the Death Penalty Information Center (DPIC) concludes that tax payers pay an average of $3.2 million dollars per each death penalty case -- enough to sentence someone to 120 years in a maximum security facility. The death penalty is also not a detterent to crime.

Clothing and Boutique Business

http://www. geo-slope. com/res/price%20list. pdf A boutique is a small retail store which focuses on selling unique items, or items targeted at a niche market. Boutiques are established to sell a wide range of things, although products like clothing, food, or jewelry are common offerings. Many people associate boutiques with elite, special products, and they may pay a premium for goods purchased in a boutique. Many resort towns and areas which cater to wealthy populations have a high concentration of boutiques in their shopping districts. At one point, any small shop was considered a boutique, and most stores were in fact boutiques since merchants usually focused on a single product, like fabric, produce, fish, and so on. The word is French in origin, and derived from the Old French word botica, for apothecary. Around the 1950s, people starting referring to specialized, elite fashion shops as â€Å"boutiques. † This meaning of the word quickly obscured previous usages, and spread to include any highly specialized or fashionable store. Many people think of a boutique as a standalone shop with a single owner. However, some high-end shopping chains actually own multiple boutiques; these stores may be scattered in wealthy areas all over the world. Chain boutiques sell specialized products and target a very specific market, just like their standalone counterparts. These stores may have very well marketed and recognized brands; Tiffany's is a good example of a boutique with international branches, with its distinctive little blue boxes and their contents being prized and coveted objects for some people. Types of Boutiques and their Classification A boutique store is a small retail shop that specializes in merchandise for a particular market segment. These department stores focus on fashionable products such as clothing, accessories, jewelry, and other miscellaneous items. Boutique stores are uniquely positioned to serve a well-defined category of consumers, and are equipped to cater to these niches and themes. As you can see below, there are many different niches that boutique stores can specialize in, and a diverse range of markets to choose from. Boutiques can be classified by their demographic target: Maternity Boutiques Some very successful boutiques target expecting mothers and the unique set of challenges that pregnancy brings to women; one of these challenges is to have clothing that is both stylish and comfortable. Given the dynamic nature of expectancy, dress sizes and how they are managed are extremely important to future moms who want dresses that they can use through the lifecycle of their pregnancy. Boutiques for Children A common way to segment a market is through targeting those of a particular age. If you love kids, then a boutique store for toddlers is calling for you. A boutique for children would carry children clothing, but may also contain toys and games. You can further define this category for just: †¢ Baby: An example is Baby Gap †¢ Toddler: Gap Kids for toddlers is in this category †¢ Pre-teens Casual Teen Boutiques Teenagers are a volatile bunch, and their casual boutiques are a reflection of this. These retail shops can cater to the â€Å"skater† crowd as PacSun does with grungier clothing and pointier jewelry. In contrast, they may cater to the â€Å"sporty† teens like Foot Locker does with sweat pants, shorts, and jerseys. Casual College Boutiques Another strong market is the college crowd seeking casual wear. Examples of such stores are American Eagle, Hollister, and Old Navy. Jeans and t-shirts dominate the shelves of these boutiques, along with the occasional accessories rack. Business Casual Boutiques Retailers like Banana Republic, Gap, and Club Monaco fit this category. Business casual boutiques mainly consist of dress shirts, polo shirts, and dress pants. Accessories that you might find in these stores are belts, cuff links, and ties. Boutiques for Women These might be the most common type of boutiques, and they specialize in the clothing and style needs of women; within this classification there are such specialities as Lingerine with the most known example being Victoria's Secret. Within this type of boutique you will also find boutiques for Mature Women that cater to their specific needs. Boutiques for Mature Men These boutique stores are the Tommy Bahamas that look great on the Pierce Brosnans and George Clooneys. They specialize in casual wear like polo shirts, shorts and sweaters, but also sell sunglasses, watches, and fragrances. These shops are a blend between professional and completely casual, resulting in a fashion line that accommodates men who are near or in retirement. Boutiques by Lifestyle and Theme Boutique stores can also be target markets that go beyond age and function. Thematic boutiques exist that sell tourist souvenirs or religious items. Boutiques can also cater to pets or special occasions like parties or bar mitzvahs. Examples of these lifestyle and thematic boutiques are: Beach Lifestlyle: An example is PacSun, which also caters to the extreme sport crowd Sports Boutiques: Such as Soccer Baseball, Football, or Lacrosse Gothic: Gothic boutiques carry specialized items that target the gothic lifestyle, are usually found in partying sites of town. Music Lifestyle: Rap, Reggaeton and Reggae fans have special dressing needs that boutiques answer. Pet Boutiques: Who said pets didn’t deserve to be stylish? As people devote more time to their pets, they also feel the need for a little style on their pet’s life. Pet sweaters are very popular in parts of the country that are subjected to hard winters. Touristic place Boutiques: A touristic place without a boutique which sells typical items is not as touristic as it should be. Patriotic and festivity date: People like to dress for occasions, and boutiques that cater in a timely matter to these occasions usually become successful. Religious: Think of the religious items and religious dates that are popular with each religion A boutique business is one that is always success and profitable as people need clothes to wear to work, parties at home and dress up. Starting a boutique is as professional as any other business whether you design your own line of clothes or stock some other designers’ clothes. If you are fond of designing clothes, have a creative mind and can design clothes that people love, it is a very profitable business to start. As a boutique owner you get to choose the products you will stock and set the prices and open your doors to eager customers who want to buy your latest creations and show them off. To start your boutique business, you need to be aware of the fashion sense, have a creative streak that enables you to match colors and fabrics together to design heavenly creations and also a substantial sum of money to invest in a shop, clothes and advertising. Read out articles for more information on how to start your own boutique business for a rewarding and satisfying career. Steps to starting a boutique business How to make your boutique a success How to run a profitable boutique business Establishing your boutique business Important factors for opening a boutique business From sportswear to beachwear, t-shorts to lingerie, shoes and sandals to causal dresses and evening wear, there is a large variety that you can offer in your boutique. You can also offer matching accessories like bangles and earning to match with the dresses and attract more clients. From clothes for women to men and children to teenagers, there is a large market you can work on for a successful boutique business. Starting a boutique business is a solid venture with constant demand for new clothing and apparels also there. Boutiques are very in these days and people value the personalized service and attention they receive, the cozy ambience and the unique products they get even if they are at slightly higher prices. You really don’t have to be a fashion designer to start your boutique business, you can sign up with some clothing line that provides you good quality readymade clothes to sell or you can design your own clothes and get them stitched by tailors to sell. You can also make clothes on order on customers’ demand. You can pursue your dreams and become a boutique owner by designing clothes or getting them designed exclusively for your shop and sell them with your brand name. It is very easy to become a part of the lucrative growing fashion industry with your creative designed line of clothes that are trendy, comfortable and durable. While you will not become country’s biggest chain of clothes, yet you will be able to earn a decent living for with a fulfilling lifestyle with a successful boutique business. Steps to Starting a Boutique Business Starting a boutique business is an exciting and fun experience and take planning, a good eye for fashion and ability to talk well. These days owning a boutique is probably one of the easiest businesses to start and makes you a part of the lucrative and even thriving and growing fashion industry. The demand and need of both online and offline boutiques is on the rise and makes it a very selling trade. You can start your own boutique and become a business owner by selling clothing such as evening gowns, formal and casual wear for men and women and even children. People love buying clothes that fit them as if they were custom designed for them. From a small town to a big city, boutiques are a popular place to buy clothes from. Regardless of your education and experience, you can start a boutique business, offer exclusive services to customers and earn a rewarding and fulfilling lifestyle. Fashion boutiques are hip, cutting edge and fresh and can sell anything from children clothing to maternity wear and even men’s fashion. Here are some steps on starting a successful and thriving boutique business. Step 1 First of all, decide on what type of boutique you want to open. From accessories to vacation wear, sportswear to formal or casual clothing to consignment clothing there is a wide variety of things you can sell. You can also sell specialty clothing such as evening gowns or maternity wear. It is important to decide what kind of clothing items you want to sell as it will become your signature and you will be known by the type of clothing you sell. Step 2 When starting a business especially one such as a boutique, it is necessary to get a business licenses. Check out with your local city or county department and ask them about any other requirements for opening a business. You will need to pick up a business name and complete all the necessary paperwork such as opening and account and getting a tax number before you can start. Step 3 You will need to find a nice place to open your boutique. You will need a storefront that has good street visibility and easy access so that customers can find and reach you easily or see the clothes in the window when passing by. A boutique doesn’t need to have very big space and it can have any arrangement or setting you want. However, having a good location is very important for a good business. Find a space that is attractive, located in a clean and respectable area and caters to the type of people who are likely to buy from you. Step 4 Find suppliers who will supply you with the clothing you need for your boutique. Go to trade shows and join organizations to get a list of suppliers who will provide you with the kind of products you want to sell in your shop. You can also contact suppliers who can make clothes according to the designs or styles you give them. While it might be an expensive and lengthy process, it will ensure that you sell clothes that are exclusively your designs and customers will be getting designed clothing. All these steps are very important and play a very crucial role in starting your boutique business. Running a boutique is fun and exciting if you enjoy your work, love fashion and advising others on what to buy that will suit them. With a good clothing line, excelling customer service and communication skills and good location, you can start a boutique business very successfully. How to Make Your Boutique a Success People who are fashion conscious and want to be recognized for their special way of dressing prefer buying their clothes from boutiques that sell something superior and different both in design and quality. Boutiques sell clothes that have their own personality, style and flare and which becomes very popular and trendy. If you are a boutique owner, it is important to sell not only just fashionable clothing but clothing that is at the same tie trendy, comfortable and speaks of class and design. Only these traits can make your boutique business a successful and profitable one. Starting a boutique business needs more than matching shoes with a dress or finding the right belt to go with the purse; it needs the perfect blend of colors and ideas that can make even two odd things look good and make them popular. To make your boutique a success, it is necessary to be well versed in fashion, choosing the best things to sell and an eye for details to help customers select the best thing to suit them. Here are some tips to managing and making a boutique a success. Tips for a Successful Boutique Decide on the type of items that you will sell in your boutique. It is necessary to determine what will be the highlights of your store such as hats, flashy tops or sunglasses. This is something where your personal style as a boutique owner must shine to give a distinctive aura and individual touch to the business. It is important to serve clothes that are at the same time individuals, will look good on everyone and leave a lasting impression others. Customers will only buy your clothes if they are comfortable, look good on them and offer them a chance to look different from others. If you provide all these things, you will definitely have a successful boutique. It is now necessary to have both online as well as offline stores to sell your clothes. While in the past, only a brick and mortar location served well, the rise in buying and selling products and services online has increased the need for an online store and more and more customers are now moving to buying clothes online. Get a website that is attractive, easy to navigate and offers the complete range of variety that you sell. A successful boutique has to remain in the good books of the government by paying all the taxes on time and maintaining a good reputation. Get a tax id number as it will allow you to track expanses paid for employees and remain in compliance with federal government rules. It doesn’t leave a good impression if your boutique name is associated for evading taxes and not following government policies. You will have to carry on schemes and advertising campaigns that keep you in the limelight and attract customers to your boutique to make it a success. From having a great opening event and inviting celebrities to wear your creations, there are many ways to attract attention and make sure people visit your shop regularly. You can also hold a fashion show, a charity function or a barbecue annually to make sure you draw crowds and bring attention to your boutique. This goes a long way in making a business successful and memorable. It is important to be customer oriented and serve customers the best way possible to make them come again. The main goal of having a boutique is to focus on the customers and keep them satisfied with your clothes. Be passionate about your clothes, serve them the best way, offer them great prices and you will see them coming back for more. You can start your boutique business on a small scale if you don’t have much to invest. Start on a scale that is equal to availability of funds or apply for a small loan and expand the business once it gets established and start making customers. Hard work, customer satisfaction and selling good clothing will go a long way in making your boutique a success and profit. How to Run a Profitable Boutique Business How to Make Your Boutique a Success, tips for a successful boutique, offering the best clothing to customers, pay government taxes Running a boutique business is as professional as any other business. From getting the best products to sell to effective marketing campaigns and from a good business plan to serving customers the best way, there is a lot needed to run a profitable boutique. Tips to Run a Profitable Business Here are a few tips to help you run a profitable boutique business: Sell Quality Clothing – The clothes and accessories that you sell should be cost effective. Even if they are expensive, the customers should feel that the clothes you sell are worth their money with the comfortable fitting, trendy designs and styles and their durability. This is one thing that will make your boutique business profitable even if you are a bit expensive than your competitors. Sell at Good Price – While quality is something that surpasses even the cost of products, make sure the cost of your clothing is inline or has an edge over your competitors. Too expensive clothing will only be affordable by rich people and it is important to create your market in all circles so it is better to sell at a good price that gives you a nice profit and customers a chance to wear boutique wear. Excellent Customer Services – Offering excelling customer services is very important as it can make or break a client. A customer might come back next time just because you gave them your full attention and advised them on what would suit them best. Customers prefer going to friendly shops where they are served with a smile. It is necessary to select and train your staff in offering best customer service for customer satisfaction and a profitable business. Offer Seasonal Stock – Every season has its own market and people buy clothes according to the seasons and fashions. Identity them and stock your boutique accordingly for a profitable business. Vacations and festival seasons mean more sales such as summers, Christmas and winters. Make sure you are adequately equipped with proper clothing to for the seasons and fashions to satisfy customers. Avoid Over Stocking – While it is best to be prepared with the seasonal stock to make good sales, it is very important to avoid over stocking as excessive stock means imminent loss. Estimate your future sales from past records and buy your stock accordingly. Proper amount of stock is very essential for the smooth and profitable running of a boutique. Along with all these above mentioned tips to help you run a profitable business, effective and targeted marketing campaign is absolutely necessary for running a boutique business. Plan your advertising to meet the requirements of your potential clients to attract them and offer them great deals they cannot resist. Professional account maintenance will help you to cover the financial aspects of making your business profitable and help you expand the business wisely. Proper account handling plays a very crucial role in avoiding financial pitfalls and ensures a profitable business. From buying stock to paying your employees and setting aside money for rent are not included in the profit. Profit is they left over amount of money that you get after covering all expenditures and it can vary depending upon how you sell your clothes, how you serve the clients and what methods you use to make your boutique business a profitable and successful one. Establishing Your Boutique Business Establishing a boutique needs lots of planning and preparation from selection of a great line of clothing to be sold to finding a great storefront that will attract customers and profit margins to be earned. However, only selling trendy and stylish clothes or having the best location for your shop is something that will not work every time. How to Establish Your Boutique Business the Right Way First of all, make your boutique as inviting and cozy as possible. Remember, it is a deviation from store or supermarket clothing so it has to look personal and give a very inviting look to the customers where the feel comfortable in choosing their clothing. Decorate your boutique and give it a distinct theme or feel that will set it apart from other shops. Make your boutique memorable by adding special little touches to personalize the store and merchandise and to give customers a unique shopping experience. Windows play a very crucial role in advertising and promoting your shop and your line of clothing. It is necessary to put out and display your special items in the windows to entice customers as before entering the shop, every customer takes a look at the window and if they like what they see, they will definitely come inside. Try new variations on clothing to satisfy every customer. You don’t have to stock everything in large quantities but it is best to try everything out and see customers’ response. This way you will be able to judge what sells most and make more profits based on this calculation. Purchase your merchandise from a variety of places such as fashion markets, local designers and even eBay or garage sales. You will find some wonderful items in the most unusual places that customers are going to love. In some cases, creating a specialty store makes it easier to target your marketing campaign such as men’s clothing or sportswear or maternity wear. This limits your clientele to a certain section of society and you can target them only. However, it doesn’t work all the time and in most of the cases, business owners prefer having a large variety to cater to different clients. It is very important to listen to customers’ feedback and try to fulfill their needs. It will help you two ways. First of all, it will give them the feeling that you care and they will come to your boutique for more, secondly, it will increase your profits and your clientele once people come to know about the personalized services you offer. Marketing your boutique is the best way to make it known and popular among customers. Put ads in local newspapers, yellow pages and whatever you can afford. You can also offer special sales or discounts and you will see people flocking to get a look at what you are selling. All these tips to establish your boutique are meant to guide you in making your business a success. However, don’t expect immediate profits as it will take some time to establish your business, earn customers trust and start making money. Explore your options and see what you can do to set your boutique business apart from others to make it a profitable and thriving venture. Important Factors for Opening a Boutique Business Breaking into and succeeding as a boutique owner, running a boutique and selling fashion clothing is a demanding but also a rewarding business. You can pursue your dream of owning a boutique and sell beautiful clothes to women, men, children and even teenagers and become a part of lucrative fashion industry There are all sorts of fashion boutiques ranging from selling everyday items to haute couture evening gowns. It is for you to decide what you want to specialize in and make your mark in. However, whichever form of boutique you choose to start, you will have to work hard, pay attention to and plan meticulously to make your place in the market and beat your competition. From expensive and designer label to low cost items with high turn around, you can start the kind of boutique business you can run successfully. There are numerous important factors that play a very crucial role in opening and running a boutique successfully and help to make it a big name. There are numerous things to do before you can even open your doors to the customers. This article discusses some of the most important factors that can help you open and run a boutique business. Money for Investment The most important factors that play a very vital role in opening a boutique is money for investment. Renting a place, buying stock, decoration of the shop and advertising it, all need substantial amount of money. You will either need to come up with lots of money or need credit. Loans and grants are another way to arrange for money to open your boutique. Calculate how much money you will need for investing into the business before applying for it. Deciding on the Type of Boutique There are many types of boutique from men’s wear to women wear and children wear to specialty boutiques that sell sportswear, maternity wear or evening wear. You will have to decide which type of boutique you want to open. You can also specialize in second hand clothing, wedding or formal wear, clothing accessories or something completely different. Find out your competition and choose a genre that is not very common so you can make your place in the market easily. Go for something that makes your stand apart from the crowd and get noticed. Finding the Right Manufactures and Suppliers Another important factor that can help to open and run a boutique is finding the right manufactures and suppliers who will supply clothing for your boutique. The best way to find them is to search online or attend trade shows and select the best ones. It is necessary to talk to different suppliers and check their merchandise and decide on their cost before actually signing up with them. It is important to ensure that the clothes you are getting are of superior quality, durable and look good as your reputation as a boutique owner depends on them. Advertising and Marketing Advertising and marketing is something that starts even before the store is opened. Put up banners on the shop announcing what you are going to do, give ads in the newspapers, organize a small show or offer discounts on first few days of openings. These are all effective and valuable advertising and marketing tips that help to promote a business and help it get noticed. Opening and running a boutique is as professional as any other business and need careful planning and preparation before you open your doors to the customers. It is important to give due consideration to all the factors that are necessary and play a crucial role in setting up and running a business to make sure your boutique venture becomes successful and gets good returns on investment. Managing A Boutique Business Running your own Boutique Business can be undermined by the very simplest of problems: your ability to manage! Having the product, resource and cash to start a Boutique Business is important but without an ability to get the best from those around you, and of course yourself. then you may be looking at a failure; a costly failure. If you are a business owner and you accept your weaknesses then it is very simply to plan a simpler way for you to manage your Boutique Business. A business plan will help you set out exactly what you need from your customers our suppliers your financiers your staff, and most importantly, you! The first thing a great manager understands is that people are impossible to manage! To try and take a hands-on approach to every single aspect of managing a Boutique Business is impossible; the key to a great business is that it will run without hands-on management. Your systems should run your business; you should write your Boutique Business Plan to clearly set out how you want your business to run. The type of customers you are looking for and how you want to present your xyz business to them. The suppliers you need to help you and how you want those relationships to work. The right level of long-term secure finance and how you will return their money and what they can expect by way of information from you. A clear set of instructions for your staff. A very clear set of instructions to yourself. Great businesses do not rely on people having to make decisions every minute of every day; they are built with a clear system so that everyone knows what is expected. Great Boutique Businesses have a great Boutique Business Plan. The following are several common mistakes that decrease the effectiveness of your management: Depending on unqualified friends or family in key management positions. Assuming that previous success in other industries applies to your current industry. Presenting a â€Å"one-man-team† management philosophy. We all know that it is difficult to wear every hat and successfully run and grow a company. Attempting to attract top managers without sharing ownership. Failing to ensure every person that comes into contact with your Boutique company knows exactly what your business does! Imagine this scenario: You are a private investor searching for that next exciting investment opportunity. A business plan lands on your desk, right next to the sixteen others you have received recently and are in the process of reviewing. Half of the plans present solid business concepts. Some of the plans seem to offer exceptional long-term growth possibilities. But in your opinion, only two of the plans present management teams capable of turning ideas into reality. As you consider your investment options, you eventually eliminate all the business plans except for those with the strong management teams.

Business Plan for Small Business Essay

Introduction While food trucks are very popular in the U.S, it seems under the strict by-laws in Ottawa as well as other cities in Canada as the government want to protect its citizens. With a growing demand for food trucks, the City of Ottawa has been forced to loosen restrictions on the mobile eateries, much to the approval of locals as well as chefs trying to make a mark on the culinary environment. In 2012, City Council approved the New Street Food Vending Program to encourage new, convenient and culturally diverse fare on City streets. There are now a total of 61 street food vendors permitted on Ottawa’s streets (32 trucks & 29 carts). In the spring of 2013, there was an addition of 17 new vendors (10 trucks & 7 carts). From oriental cuisine to Mexican treats, seasonal creations to sustainable seafood, these new vendors will complement the existing mix of street foods vendors and satisfy the diverse appetites of residents and tourists alike. According to the Ottawa’s new street food vending program, a food truck cannot be greater than 10 meters in length (33 feet), by 2.6 meters in width (8.5 feet), by 4.3 meters in height (14 feet). Refreshment trucks must: be clean and sanitary all the times be in compliance with size regulations be safe and stable condition and state of good repair have recycling and trash receptacles outside of the unit have a trade name written on both sides of vehicle with letters no smaller than 7cm in height be removed from City streets during non operating hours (11pm – 5:30am) not be left unattended for longer than 30 minutes during operating hours In addition, all licenses and permit holders must: dispose of grease and water in accordance with all laws and regulations ensure trash/recyclables resulting from the vending activity are collected and removed from the vending area before leaving for the day. Street Vending Insurance Information As a condition of being issued a mobile refreshment vehicle or cart license, you are required to obtain and maintain General Commercial Liability Insurance coverage which meets the following requirements: insurance for Public Liability and Property Damage for vehicles with a limit of not less than $2,000,000 per occurrence insurance for Public Liability and Property Damage for carts with a limit of not less than $1,000,000 per occurrence the City of Ottawa is named as an additional insured the policy must contain an endorsement to provide the City with 30 days prior notice of cancellation or change that would diminish coverage A mobile refreshment vehicle or cart license will not be issued until sufficient proof of insurance has been received and approved. Arrange for a vehicle or cart inspection Prepared to schedule for final inspection in time through By-law and Regulatory Services Branch. Contact Officer Jacqueline Mundy at 613 580 2424 EXT 33340 or by e-mail at jacqueline.mundy@ottawa.ca to arrange your on-site inspection. Food service inspection across Canada is generally carried out by these organizations: provincial governments, municipalities and regional health authorities Executive Summary The business is the restaurant/service industry. It is important for us to understand that customers are our top priority, and for this reason our business is entirely devoted to serving their needs There was recently an article in globe and mail about food allergies in Canada: â€Å"It is estimated that 5 to 6 per cent of young children and 3 to 4 per cent of adults suffer from food allergies. Nearly 1 per cent of the population is affected by celiac disease; for them, the consumption of foods containing gluten can lead to long-term complications.† (Galloway, 2012) The general public should not be worried for their health when they go out to enjoy a meal with loved ones, they should not have to concern themselves with counter-active measures every time they dine away from home. The Food Truck is a limited partnership and has both limited and general partners. The Food Truck will strive to provide the highest quality of food and service to their customers. This business idea had been put together by five people from different parts of the world, making a total contribution of $54543. The Food Truck targets a wide variety of markets, people from all parts of the world. Our number one goal is to make customers happy, no matter the cost, so that they feel happy, confident and motivated to recommend us to their friends, family and colleagues The Food Truck specializes in allergy free food. The menu that ‘The Food Truck’ has is all allergy-free products. However, we target all the potential customers but our biggest target market is people with food allergies or intolerance and these individuals are definitely going to love this food. People on limited diets experience challenges finding food that they can enjoy and The Food Truck will provide a simple and convenient dining experience. According to the analysis, a rough sketch of costs and expenses that are going to occur after selling 200 menu items a day will be: Due to the nature of our product, and the service our business provides to the community, our target market can be both broad and focused at the same time. It is broad in the sense that we will be serving the entirety of the Ottawa region on a region-by-region basis, a population that can be narrowed demographically to only an estimate of those people who have a food allergy or intolerance. For the first six months of business operations, we are simply looking to breakeven in terms of profitability. Any extra earned above and beyond our costs can be used to improve or upgrade our business, so that when our pricing objectives change, we can be one step ahead in terms of our ability to offer a better, more inclusive product. As our price objectives increase, we can further use the projected increase in profitability to both upgrade our primary location, and begin planning for  expansion. Based on initial investments by the management team, to create our start-up ownership spread in the business’ shares, we have $20,000 to apply to our beginning costs in this business venture (100 shares x $200/share). This will cover around half of the purchase of a food truck to use (Lagorio, 2010), or the total licensing fees and partial inventory needed to get started. This brings us up short around $60,000-$75,000 to cover our start up costs and first year expenses to ensure our business runs smoothly and has the time to begin showing its own profit. This report will analyze the very crucial information for the allergy food truck business. The information will be divided into different categories for better illustration. We will first discuss how our food truck business is unique and different from other types of food truck business. This report will give each individual or grouped investor better understanding of our unique food truck business and demonstrate great potential and opportunity that the allergy food truck has. And since the funding covers 90% of the start-up cost, it shouldn’t be hard for the owners to easily cover any unexpected expenses that can happen in business. And in case the funding is not granted, we have a backup plan (Plan B). So then we will be looking for other forms of financing, beginning with business loans from banks, and other investors. Manufacturing and Operation Plan The first step in our plan will be getting licensed from the City of Ottawa. Food truck design is also crucial. It’s almost like designing a new kitchen for a new restaurant. Because the food truck is smaller than most of restaurant kitchens, every inch of the space has to be utilized. A designated area for cooking, storing, and serving is needed. Dry goods, paper goods and other perishable items will be stored in the cabinets and cupboards which will be secured while driving. Built-in prep counter will be made of stainless steel and all the hazardous materials will always be kept away from food and serving utensils. Since we only serve specific items in our menu, we’ll use a medium size truck that can give us enough space to prep and serve. The serving window and the kitchen prep area will be made of stainless steel. All the freezers and coolers will be bolted for safety. In summer the ideal places are beaches and the Byward market. This truck will give enough space for employees to do their jobs and will also allow customers to order and get their food with ease. According to my analysis, a rough sketch of costs and expenses that are going to occur after selling 200 menu items in a month will be: Once the menu and business hits the market, the company will expand its business by buying a bigger truck which will have larger kitchen and serving area and where people can enjoy their food in the truck. So basically, it will be a mobile restaurant. Customers will have two choices, either enjoying their food on the roof or take out. The units will be equipped with proper ventilation and electrical outlets. The outside counter will hold sausages, napkins and all stuff like that as shown in first image. An awning over the window will also be handy in case of rain or bad weather (Mealy). The ownership and shares will cover the expenses for the first year and the licensing cost. The government funding will cover the cost of the truck and other expenses that cannot be covered by owners. And in case government funding is not granted, plan B will cover the cost of truck and other expenses. Once the business is up and running, the target is to sell between 7200-8000 items over the year, which means 15-20 items per day on average, which is easily achievable. After selling 7200 items, projected net profit after paying wages are calculated around $35000 which can be divided between the owners. Human Resources Plan The Key members of our business team are Suzanne Crabtree, Brent Grinstead, Phuong Anh Phan, Ding Sun and Amrinder Singh. Each member holds a varying number of shares for the company as detailed below: Name# Shares Held% Ownership Suzanne Crabtree40[40%] Brent Grinstead 30[30%] Phuong Anh Phan10[10%] Amrinder Singh10[10%] Ding Sun10[10%] Phuong Anh Phan graduated from Interior Decorating Program iscurrently completing Small and Medium Enterprise Management Program. Phuong Anh has worked 1 year as a designer at UMA, a design company. After that, 2 years of work experience were completed as an office administrator and designer at Markham Center Realty. Amrinder Singh completed high school in India before deciding to go overseas for higher studies and chose Algonquin College. He has worked as a cashier in a bank in India. In Canada, he has done roofing, worked in warehouses, mac’s as well as security positions. From all of this experience he has learnt how to run a business and things that we should and shouldn’t do. Ding Sun was originally born in China and at the age of fifteen came to Canada. Elementary and middle school was completed in China. High school was completed in Canada. Ding transferred from the University of Ottawa to Algonquin College for post-secondary studies. After an unhappy experience at the University of Ottawa, Ding decided to take business administration with a major in accounting. Ding Sun has worked in a dollar store as a store worker and cashier for one summer also as an assembler for a small factory. Outside of school Ding enjoys listening to music and playing video games. Brent Grinstead has switched educational goals twice in the last five years. Because of this, he has a diploma in Radio Broadcasting, a semester’s worth of pre-design courses, and his current program is Business Administration with a major in Accounting. Through his work in the Radio Broadcasting program, he has learned how to juggle multiple tasks at once. During his time as a radio station manager he was responsible for creating the structure for how the material was played over the air, scheduling students for air time, and both scheduling and approving commercial and music content. Business Administration has helped him learn new ways of looking behind the scenes of the business world, as well as providing many opportunities to gain new skills with those things in mind. He has learned how to do a wide range of new tasks such as writing fund proposals, how to write a variety of business reports, creating and presenting marketing strategies to help existing companies, and learning how to properly present financial statements at the end of fiscal periods. In his varied work experience with a mix of duties, Brent has learned a variety of skills including time management in an office setting, how to manage tasks according to importance, how to deal with the post public, and how client records and receivables were maintained. Suzie Crabtree completed her early education in the gifted program in Ottawa which helped teach her valuable learning and communications skills. After high school she began her post secondary education with three years at Carleton University. When she discovered that it was not the right fit, she transferred over to Algonquin College to complete Business Administration. In terms of work experience, she has worked for the City of Ottawa, the Federal Government, a toy store and McDonald’s. All of these experiences have provided her with exposure to a variety of different tasks. She has an excellent understanding of human resources and how to manage a successful team. She is a great communicator and is able to provide excellent customer service. These work experiences have also allowed her to have an inside look at the finances and other procedures involved in running a business such as inventory and payroll. Before we begin to hire staff for The Food Truck, each member of the management team will need to undergo some training in food allergies and intolerances so that they are better prepared to run the business and help  hire and train new staff. Due to a lack of relevant experience, menu creation and planning will have to be outsourced. As well, outside help will have to be brought in to train staff on new menu items. The Food Truck will require a total of eight (8) employees’ altogether. There will be one (1) full-time Manager, one (1) full-time Assistant Manager, one (1) full-time cook, one (1) full-time cashier, two (2) part-time cooks, and two (2) part-time cashiers. This balance of staff will allow The Food Truck to offer a reasonable range of working hours while still working to control labour costs. The Manager and Assistant Manager will be responsible for all of the day-to-day activities of the business and the business team listed above will oversee the overall running of the business. Our job application for The Food Truck is provided below. We are looking for employees with experience as a cook or cashier depending on the position applied for. Our Manager and Assistant Manager will need to have previous managerial experience in a food-related business. They should possess excellent administrative and analytical skills. They should be planning-oriented, cautious and focused on the short term. Our cooks and cashiers should have some previous experience in their related area and should be open to receiving training related to food allergies and intolerances. Experience is not mandatory and we are willing to train new individuals. Our cashiers must be friendly and outgoing and must possess excellent customer service skills. Experience handling money would be an asset for the cashiers. All individuals must be willing to work as a part of a team and must understand the close quarter’s nature of the food truck business. The cooks should also be friendly in nature since they will be working as a part of a team in a cramped space. All individuals must be responsible and committed to coming to work on time and doing a great job. To evaluate employees there will be periodic performance review sessions. The first review session will be a probationary session and will take place 60 days after hire. This session will determine whether or not the employee has a future with the organization. After the initial probationary session,  performance reviews will occur every 6 months. These performance reviews will allow employees’ to discuss ideas, questions, complaints and job expectations. Employee behaviour and attitudes will also be monitored on a daily basis and discussions regarding performance may take place at any point between review sessions. Wage increases will occur on a yearly basis with a performance review session at the end of the fiscal year. Employees will start off with a competitive wage varying from minimum wage to higher levels based on their experience, training and performance. Employees will be offered bonuses and incentives for working special events and help to attract and retain customers. Marketing Plan The Concept Our product is specifically targeted at people who have an allergy or intolerance to certain foods or food ingredients. We are striving to give them an alternative, healthy, safe option with respect to their needs with regards to these intolerances when they are looking for food options away from home. Because allergies are not a limited condition to a particular age group, the beginnings of our targeting will revolve around the population of Ottawa, from families with young children at home to college students to the elderly, anyone with an allergy or intolerance will fall within the realm of our market. We are looking to target those that are health conscious and looking for an alternative to the regular run-of-the-mill take-out food options in the city. Market Breakdown Due to the nature of our product, and the service our business provides to the community, our target market can be both broad and focused at the same time. It is broad in the sense that we will be serving the entirety of the Ottawa region on a region-by-region basis, a population that can be narrowed demographically to only an estimate of those people who have a food allergy or intolerance. The total population of the city of Ottawa was projected at  roughly 920,178 people for 2011, based on three possible scenarios the city officials examined, and an average taken of the results (City of Ottawa, 2001-13). Taking this number, we can further narrow our market by only targeting those that self-report an allergy or food intolerance, which is roughly 7% of Canadians (Health Canada, 2012). Using this percentage, we can limit our target market to around 64,412 people in the Ottawa region. Now, further, according to a study done by Statistics Canada, roughly a quarter of people in Ontario (26.8%) consume food from a fast food outlet on a regular basis (Garriguet, 2004), which further narrows our potential target market to around 17,262 regular users. The rest of the projected market (the remaining 47,150) can still be sought after as occasional users, but can’t be relied upon for a regular consumer or income base. Advantages and Disadvantages Because we will be operating a food-based business, there are a few advantages and disadvantages to consider, which include the following: Advantages Disadvantages We offer a unique product, and it is the sole product we market, making our niche market fill very focused We have analyzed and are trying to fill a very specific consumer need We can broaden our consumer base by reaching out to people who don’t have allergies, strictly on the premise that our food is a healthier alternative to regular take-out We are able to modify our menu as needed to better represent what our consumers are asking for or looking for in this kind of setting Alternatively, we can modify our menu based on profitability of items, trying new options with more inexpensive ingredients There are a wide range of food providers currently on the market (with some restaurants already offering allergy and intolerance alternatives) Allergy alternatives (making the same dishes with allergy conscious ingredients) can be more expensive to supply Starting up with one location may make it difficult to reach the broadest possible consumer base, until the foundation is reached and the business expands Proximity to other food providers may provide unnecessarily high levels of competition, making it difficult to  make an impact when starting up Environmental Analysis On top of these advantages and disadvantages, there are also a number of other environmental factors to be considered when evaluating our ability to make a strong market entry. Factors such as the competing businesses currently in the market, the legal climate and regulations specific to our business type, the political climate in the city (if relevant to our business), technological progress that may impact our business, the economic stability of the region, and any socio-cultural factors that may influence our target consumers either for or against our offerings. Some of the main points for each of these factors are summarized in the table below: Factor Description/Details Competition Based on a look at the food trucks around Ottawa that have reportedly been open recently (and can be considered our direct competition, due to the nature of business), only one in 22 boasts having gluten-free and vegetarian alternatives (and at least three are strictly dessert/snack style foods) (Street Food App, 2013), which further strengthens our niche, as consumers would need to venture into a restaurant to find other options. As well, 22 food trucks serving all of Ottawa makes it both an obviously lucrative venture, and a rather thinly spread one. Legal There are many regulatory acts in Canada concerning the sale of food, which is understandable, due to the consumable nature of food products, and the ramifications of bad foods. From acts concerning dairy products, to those concerning agriculture, to those that cover the licensing of food sales (Canadian Food Inspection Agency, 2013), all would need to be considered in beginning the start-up plans for our business. Political N/A Economic The average income of an Ottawa family in 2010 was $94,700 (Statistics Canada, 2012), which, when tied into the previous stated market size numbers, we can easily state with confidence that there are around 16,000 targetable families in the Ottawa region with this average income level. In addition, when tying the similar food economy to this, when taking into account that there are only 22 similar businesses open in Ottawa at any given time (most of which don’t offer allergy alternatives), the demand for a product similar to our own is fairly high, with a low supply. Technological The main technological factors that impact our business are any advances in allergy treatment. Elizabeth Landau of CNN reported that new experiments involving gradual exposure to allergens for people with severe allergies to foods such as peanuts has shown promise in increasing the tolerance of these people to the reaction-inducing foods (2010). With time, advances such as this could make allergy-free foods unnecessary, causing our business model to become obsolete. However, there is still no true cure for allergies. Socio-Cultural We are aiming to provide a location where the clientele can feel as though their allergies are understood as allergies and not as preferences (Hadley, 2006). As well, we are providing the assured cleanliness that people with allergies will come to expect, being assured that their food hasn’t come into contact with any risk factors, ensuring their comfort in dining out at our locations. The Plan We are looking to fill a very noticeable gap in the food market of the Ottawa region with a business that provides allergy conscious foods, foods that are provided with the guarantee that they have not come into contact with our individual consumers’ intolerances or allergies. We intend on doing this from a food truck style location, something that can be moved from location to location to better provide for our broadly spaced consumer base. This will also provide us with a higher ease of expanding the business as it begins to gain traction in the community, as we can simply purchase a new truck as the funds become available to better provide for our clientele. Pricing In terms of pricing, upon market entry, we intend on pursuing a penetrative pricing strategy, ensuring our prices fall slightly below the market average in order to encourage consumers to approach our business to satisfy their needs. As our client base increases, we can adopt a more aggressive pricing strategy like status quo to begin to increase our profitability as a business. Projections for this switch will fall around the six month after opening mark, in order to give our business the time it needs to properly establish a presence in both the market and the community it serves. Further down the line, we may adopt an even higher pricing strategy, leaning for towards premium pricing, to ensure we can offer the best product possible to our consumers. As we gain consumer base, and as their individual needs become prevalent, it may become clear that we aren’t equipped to satisfy all of their needs at the current cost point. Increasing our pricing in such a way shouldn’t discourage loyal consumers, but will enable us to better approach a broader, more inclusive menu of products that has the potential to vastly increase and improve our client relations. For the first six months of business operations, we are simply looking to breakeven in terms of profitability. Any extra earned above and beyond our costs can be used to improve or upgrade our business, so that when our pricing objectives change, we can be one step ahead in terms of our ability to offer a better, more inclusive product. As our price objectives increase, we can further use the projected increase in profitability to both upgrade our primary location, and begin planning for expansion. Distribution Our distribution plan is purely a point-of-sale endeavour. Consumers would come to our location, and we would serve them allergy free dishes there. As our business grows, however, we may begin to consider catering opportunities to help businesses with staff lunches and similar events. As well, we could delve into simply catering family events for families looking to be able to meet the needs of relatives, children, and so on who have food allergies or intolerances when planning larger family functions. These ideas would be pursued after a proper evaluation of the business model two or three years  into operations, based on how profitable the business is, where the demand for our product stands, how far our business has been able to expand, and whether we have the resources to pursue a venture such as this in addition to our standard operations. Advertising/Promotion Advertising efforts should be focused in the month prior to opening, for a huge push towards the grand opening of the business. The following outlines some of the standard rates available for advertising in Ottawa and the area: Advertising Method Costs Associated Newspaper Standard advertising with a newspaper such as the Ottawa Citizen ranges up to $60 an ad for their online site (Ottawa Citizen, 2013), something that would be worth considering as the online movement for news and newspapers has been fairly large, as traditional print media has started to decline in popularity. This would make it fairly easy to run an effective newspaper campaign for around or under $500 in the weeks leading up to the opening of our business. Radio Based on a contact at KISS FM in Ottawa, a standard rate for a 30 second radio commercial is $115, and they often offer one free for every one purchased (Tompkins, 2013). Because this is more expensive than newspaper advertising, within the last week before opening, we could run an effective campaign for $1150 (4 commercials per day x 5 days) Word of Mouth Word of mouth advertising is often the most important form that can be used, as people are far more willing to believe and trust what their friends have done or experienced than what an advertisement tells them. Following opening the business, it would be profitable to offer small incentives to the initial wave of consumers in order to encourage them to bring their friends out to the food truck (for example, offering 20% off their next dish if they bring a friend with them). The results of this marketing push can easily be determined through an assessment of weekly revenues when weighed against costs. If weeks go by consecutively where there is minimal or no profits showing, then it would be crucial to reassess the plan and make changes where necessary or able to. Though, when there are significant profits showing in the books, it may be wise at that point to continue as planned, to ensure the plan continues to be an effective means of profit generation. Financial Plan Based on initial investments by the management team, to create our start-up ownership spread in the business’ shares, we have $20,000 to apply to our beginning costs in this business venture (100 shares x $200/share). This will cover around half of the purchase of a food truck to use (Lagorio, 2010), or the total licensing fees and partial inventory needed to get started. This brings us up short around $60,000-$75,000 to cover our start up costs and first year expenses to ensure our business runs smoothly and has the time to begin showing its own profit. Funding we are expecting to receive include small business grants from the Government of Canada. This grant and loan system offers to cover up to 90% of the financing required to get a new small business started (Industry Canada, 2013). However, this funding isn’t guaranteed, so we will be looking for other forms of financing, beginning with business loans from banks, and other investors. According to our operating budgets, our two weeks first year costs will run at around $3,940, which will be more than covered with our projected sales numbers, which allow for peak season in the spring and summer months, and a slow season in the late fall and winter months (when people aren’t out on the street as much and running a food truck becomes costly and slightly impractical). In order to break even, we would have to sell 7200-8000 4,124 meal items over the course of the year, at a cost of $5 per item, or an average of 15-2011 items per day, which is a completely feasible goal to meet. With summer months bringing in more customers than the winter, the overflow would easily balance out those slow months, ensuring our goal was met and likely garnering some profits to put towards expansion and annual costs for our second year of business. And if the target is met, we can easily be able to pay a huge part of our debt or use the money in taking the business to the next level . The total projected yearly net income after paying wages are calculated to be around $35000 which can be divided by owners in their respective shares. Exit Strategy Our food truck concept is offering food alternatives without the reaction–including ingredients. Our service is serving the Ottawa communities from all range of different customers and different cultures as well. We hope to raise awareness of food allergies in the city, and demonstrate our own working solution to combat the shortage of allergy-friendly alternatives in the Ottawa area. As the business grows, we plan to turn our food truck shop into a franchise. According to Ottawa Public Health regulations related to food handling and storage, there are currently no restrictions on the types of food that may be sold on the street. On-street food vendors require a mobile refreshment vehicle business license and designated space permit issued by the City of Ottawa. The total annual fee for truck ranges from $4,703 to $6,748. The breakdown of these fees is as follows: Annual Business License Fee for Trucks: $2,981 6 Month Business License Fee for Trucks: $1,945 Annual Designated Space Permit Fee: Truck (Downtown Core): $3,767 Truck (Outside Core): $1,722 Permits and business licenses are issued annually and expire on May 15th. After the initial issuance of the permit and license, it is required to renew the permit and business license within the renewal period of April 25th to May 15th each year. Furthermore, we are aware of policies relating to food truck business as following: Public health oversight of food truck operations The operation of food trucks in public right-of-ways Policy statements pertaining to mobile food vending Economic development programs applicable to food trucks such as financial incentives, social media/technology tools or training Program for encouraging/promoting innovation in food trucks The Food Truck is a Corporation owned by five members. A Corporation Agreement is included to allocate the profits or losses in any ratio agreed to between the partners. Each partner will consult a separate attorney at the outset, and all members should agree on the set terms and conditions of the corporation. We believe that a food truck is a unique business niche; therefore we come up with a mini business review based on our business strategy, competitive landscape analysis, menu fit to consumer demographics, financial performance, management roles and responsibilities, employee qualifications, and community connection. We hope to expand our business to franchise in the next 3 years. However, we also look in consideration if there is an exit scenario for our business during the period or afterward. Because of this, we are focusing our energy on creating a business that buyers will want. We are working on our profitability, competitive edge, sustainability, scalability and corporate culture. In term of selling or passing on our business, we plan to hire the financial, legal tax and business advisor to help shepherd the sale through. This will prevent us  from stressful, time-consuming process fraught with moving parts and paperwork. Along with the financial, legal tax and business advisor, we will also find a business broker banker in the area. This will help us to set a realistic asking price and assembling the necessary marketing materials for our business. The broker will discreetly contact potential buyers on our behalf. When it comes to risks, we are looking into the matters with close focus to identify the current and future problems for further analysis and desired actions required to close the gap. There are vehicle risks, operation risks, and liability risks. For vehicle risks, the risks include auto accidents, fire, theft, flood, wind damage, hail damage and electrical breakdowns. These risks can be lessened through education and training. A commercial auto insurance coverage will help to mitigate the cost of damage and loss of operational readiness due to the physical structure of our business. For operator risks, we are faced with slips, falls, cuts, burns, smoke inhalation and back injury from all the heavy lifting that is required during the workload of the day. We are aware that our employees are our biggest asset and can also be our biggest liabilities. It is important to have them well trained for their jobs and duties. Worker’s compensation insurance will be added in their working contracts. For liability risks, food trucks pose liabilities to employees in many ways. Not only that they may hurt themselves during work, they are also at risk of food-related illnesses and auto accidents that are somewhat unique to food trucks. We are carefully considering investing in business insurance for liability, spoilage insurance, business automobile insurance and worker’s compensation in order to adequately cover their bases. We have also analyzed our competitive landscape that includes competitive food trucks, restaurants, and food carts in the regions of Ottawa. This will keep us up to date of the marketplace and our competitors. Beside the risks, we are building up our business strategy: Business physical location is the priority pick. We are in the process of choosing our business location. There are some options such as near office complexes, downtown urban areas, along busy roads, recreation destinations. We also cater private and public events if we can get the contract. Business physical design is an eye-catch for the first sight customers. Keeping the  menu simple that customers can read easily Keeping the menu at a degree of flavor familiarity which contain locally grown and allergy free ingredients Charging competitive prices. Budget discounts for bad weather (sales can falls up to 50%) Establishing a regular customer base by providing the same quality food and products Keeping a clean and welcoming business environment Having competent leaders and managers who guide the effort and monitor results Being flexible, with a willingness to re-evaluate based on performance feedback and to make necessary changes throughout the process in order to get the desired results As important as business strategy, marketing techniques are a must in this society of social and network. Using word of mouth Using social media (today’s special, chef tips, social only discounts, online to offline social gatherings), network to advertise our business (email marketing) Investing in business cards Hosting a grand opening event to establish our food truck as a member in the local community Having loyalty program for returning customers (Buy 10 get 1 free) Creating awareness by joining in charity funds Serving for holiday parties We are aware that customer service is the most signification investment that we should pay attention to in our business. We will show people that we love what we do. We will try to maintain a great product for a great price. Bibliography Canadian Food Inspection Agency. (2013, April 26). Acts and Regulations. Retrieved July 10, 2013, from Canadian Food Inspection Agency: http://www.inspection.gc.ca/about-the-cfia/acts-and-regulations/eng/1299846777345/1299847442232 City of Ottawa. (2001-2013). 1.4 Projection Results. Retrieved July 10, 2013, from Ottawa: http://ottawa.ca/en/city-hall/get-know-your-city/statistics/14-projection-results City Of Ottawa. (n.d.). New street food vending program. Retrieved from http://ottawa.ca/en/business/business-licenses-applications-and-permits/business-licensing/new-street-food-vending City of Ottawa. (n.d.). Ottawa’s new street food vending program . Retrieved from http://ottawa.ca/sites/ottawa.ca/files/attachments/ottpage/nsf_vend_info_en_0.pdf Garriguet, D. (2004). Overview of Canadians’ Eating Habits. Retrieved July 10, 2013, from Statistics Canada: http://publications.gc.ca/Collection/Statcan/82-620-M/82-620-MIE2006002.pdf EMBO Reports: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1679775/ Hadley, C. (2006, November 11). Food allergies on the rise? Determining the prevalence of food allergies, and how quickly it is increasing, is the first step in tackling the problem. Retrieved July 10, 2013, from Health Canada. (2012, August 22). Food Allergies and Intolerances. Retrieved July 10, 2013, from Health Canada: http://www.hc-sc.gc.ca/fn-an/securit/allerg/index-eng.php Industry Canada. (2013, April 2). Canada Small Business Financing Program. Retrieved July 17, 2013, from Industry Canada: http://www.ic.gc.ca/eic/site/csbfp-pfpec.nsf/eng/h_la00007.html Lagorio, C. (2010, May 12). How to Open a (Successful) Food Truck. Retrieved July 17, 2013, from Inc.: http://www.inc.com/guides/2010/05/opening-a-successful-food-truck.html Landau, E. (2010, February 19). ‘Exciting’ advance reported in peanut allergy therapy. Retrieved July 10, 2013, from CNN: http://www.cnn.com/2010/HEALTH/02/19/aaas.food.allergies/index.html Mealy, L. (n.d.). Food truck design . Retrieved from http://restaurants.about.com/od/restaurantconcepts/a/food_truck_design.htm Ottawa Citizen. (2010-2013). Specs & Guides: Rate Card. Retrieved July 10, 2013, from Ottawa Citizen: http://www.ottawacitizen.com/about-ottawa-citizen/advertising/specs/rate-card.html Statistics Canada. (2012, June 27). Median total income, by family type, by census metropolitan area . Retrieved July 10, 2013, from Government of Canada: http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/famil107a-eng.htm Street Food App. (2011-2013). Ottawa Food Trucks. Retrieved July 10, 2013, from Street Food App: http://streetfoodapp.com/ottawa Street food ottawa. (n.d.). Retrieved from http://streetfoodott.com/trucks-2/ Tompkins, J. (2013, May 21). quote (Email communication). Ottawa, ON, Canada.