Business Plan for Vending Machine
You are required to write a Business Plan for a trading company called “Check Point” based in Johor Bahru, Malaysia. Check Point is a newly established company focusing in the vending machine business operating in the Customs & Immigrations Quarantine Complex (CIQ) in Bangunan Sultan Iskandar, Johor Bahru, Malaysia.
One of Check Point’s key advantage is that it has just received an exclusive letter from the government to operate inside the CIQ Complex with a cap of only 30 operating vending machines. This means that Check Point can benefit from the flooding inbound and outbound passengers (to/from Singapore) that go through CIQ daily. Hence, Check Point can also profit from the purchasing power of Singaporeans due to the currency exchange rate.
Check Point partners with local beverage suppliers such as Coca-Cola, Pokka, and other local beverage brands to supply drinks for the vending machine. Check Point in the short term aims to sell drinks-only first, but has a vision to expand and sell more beverages such as sandwiches, chocolates, candies and more once it has pick up economics, and will scale it even further to selling products that are daily necessities like umbrellas, power bank chargers, sim-card packs, etc.
Check Point wants to implement a non-cash vending machine operations where customers will have to pay by a cashless method i.e Credit Card, Debit Card, Scanning of QR Codes, etc. Check Point also has a partnership with Boost, a local cashless payment company to use their system in the machines. Non-cash payments are now being supported by the local government and will help start-ups financially if their operations are smooth in the first 3 years.
Your task is to develop a solid 2000-word business plan as follows;
- Keys to Success
- Company Description
- Company Ownership
- Company Locations & Facilities
- Product Description
- Competitive Comparison
- Sales Literature
- Future Products
- Market Segmentation
- Industry Analysis
4.21 Competition & Buying Patterns
4.2.2 Distribution Patters
4.3 Target Market Segment Strategy
4.3.1 Market Needs
4.3.2 Market Trends
4.3.3 Market Growth
- Strategy & Implementation Summary
- Value Proposition
- Competitive Advantage
- Marketing Strategy
- Promotion Strategy
- Distribution Strategy
- Marketing Programs
- Pricing Strategy
- Sales Strategy
- Strategic Alliances
Table of Contents
A Business Plan for Check Point
These days, the majority of the Malaysians people prefer buying products in time-saving and more convenient and ways. This is mainly attributed to the fact that the Malaysian learning and business environment are growing in terms of competencies; as a result, it has become imperative for people to compete with the time. Check Point seeks to fulfil the people’s desires and needs by offering different products through a vending machine. The company is based in Johor Bahru, Malaysia and will offer a one-stop experience for customers in the Customs & Immigrations Quarantine Complex (CIQ). More importantly, the vending machines will clearly offer instructions that would enable the customers to effectively operate the vending machines. Check Point will provide customer service every time the customers make enquiries. The vending machines will be maintained regularly in order to make sure that Check Point’s vending machines are functioning in an effective manner.
In its first year of operations, Check Point’s objectives are:
- To become the largest vending machine operator in Johor Bahru
- To increase the number of vending machines in Johor Bahru
- To achieve a total sales of $50,000 in the first year of operation.
- To expand to other cities across Malaysia
- To increase revenues by 30% every year
- To create a reliable brand image in Malaysia’s vending machine industry
- To recover the invested capital within three years of business.
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