How to Plan the Ice Cream Van Business

Business Form

There are numerous business forms recognized in the U.S. However, this ice cream van business will take the legal form of a sole proprietorship owned and run by Michael Stevenson. Cool Taste Ice Cream Van will be fully registered in tandem with the provisions of New York regarding a start-up business.

 

Vision and Mission

Ferrell and Hartline (2010) reiterate that the establishment of a vision and a mission plays an instrumental role in guiding the company toward the realization of its goals and objectives. In light of this understanding, Cool Taste Ice Cream Van’s mission is to deliver the tastiest and quality ice cream to all customers at the most affordable prices possible. Thus, consumers would receive an assurance that they get a good value for money.

The vision of the company is to become the leading ice cream distributor in New York City during the summer. The company understands that there are other businesses, but the sole proprietor would be focused on navigating the market to attain this mission. The growth of the business is envisaged to be excellent from the beginning.

Business Activity

The primary activity of Cool Taste Ice Cream Van would be to serve as a traveling retail outlet in New York, especially during the summer. It will focus on the provision of diverse ice cream flavors to its customers. The most common flavors that would be provided to customers include vanilla ice cream, bacon ice cream, chocolate ice cream, crab ice cream, and green tea ice cream. Undoubtedly, this is a relevant business activity that would ensure all the needs of prospective customers are fully covered in the course of the business.

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Aims

The most significant aim of the business is to generate adequate returns for the entrepreneur. The business is perceived as a perfect ground for maximum revenue generation because of its uniqueness and attractiveness. Moreover, not many people have involved themselves in the business, and it would offer a perfect ground for the generation of revenues for the entrepreneur.

Objectives

Cool Taste Ice Cream Van will operate in order to achieve different objectives that will aid in the measurement of its level of performance over its course. The key objectives of the business would be as highlighted below.

The first relevant objective of Cool Taste Ice Cream Van will be to attain the sales of $ 200,000 in the first year of its operation. In fact, this is a start-up business and it is expected that it might take some time to adjust to the highly competitive market in New York.

The second objective of the business is to create a dedicated pool of buyers within the first year of its operation. The reason is that it is a well-known fact that all businesses have their own repeat customers who boost their operations.

The third objective is to be the best in the provision of ice cream products to all sets of customers within New York City.

Market Size and Growth

It is worth noting that the ice cream market has faced numerous challenges during its growth process. Dornblaser (2015) states that despite the present large market size for ice cream products, the rate of growth has only been estimated to be 3% in 2014. In fact, there has been slow growth in the ice cream market in the U.S. and other parts of the world. The growth of the ice cream market in cities such as New York is affected by competition from substitutes such as yogurt, perennial challenges of the unseasonable weather, and the emerging consumer concerns about health and the need for a diet.

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Analysis of Competitors and the Business

Every industry has a number of competitors that affect the operation of new businesses. It is always vital to understand the strength of these competitors before offering products in the market. According to Sorensen (2013), the most significant competitors in the ice cream market will include Van Leeuwen Artisan Ice Cream Truck and OddFellows Ice Cream Company.

Strengths and Weaknesses of Van Leeuwen Artisan Ice Cream Truck

Strengths

The first notable strength is that Van Leeuwen Artisan Ice Cream Truck is a popular retail outlet selling hormone and antibiotic-free milk and cream and cane sugar that effectively appeals to customers concerned about their health. Sorensen (2013) indicates that these products have attracted most of them, thereby putting the company in the best possible position to succeed in the market.

Secondly, Van Leeuwen has an effective and reliable sales channel that boosts its sales across New York City. For instance, the company has its famous yellow trucks with two of them operating in Brooklyn and one in Manhattan’s East Village. Consequently, this sets the ground for increased profitability.

In line with the views of Sorensen (2013), the third relevant strength is the provision of numerous flavors, including pistachio, Earl Gary tea, chocolate, and small patches of passion fruit. These flavors make it possible for the company to diversify its operations in the market.

Weaknesses

The only key weakness of Van Leeuwen Artisan Ice Cream Truck is that it does not have a consistent distribution strategy for its products. It tends to overemphasize the Brooklyn area over other areas within New York City.

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Strengths and Weaknesses of OddFellows Ice Cream Truck

Strengths

The first strength of the company is that it boasts of innovative flavors that appeal to many customers in New York. For instance, Sorensen (2013) states that it has the uber-local products and a retro-fountain design that put it at the top of other ice cream trucks in the industry.

Secondly, the company offers its ice cream at the most affordable prices, thereby attracting and maintaining a larger base of customers who purchase repeatedly. According to Sorensen (2013), this has set it on the map as one of the fastest-growing ice cream trucks in New York City. The continued growth has ensured the expansion of business on the part of the company.

It is also strategically located in Brooklyn, thereby improving its ability to perform superbly in the market.

Weaknesses

The only key weakness is that most customers who are cautious about their health and overall welfare perceive some of its flavors to be unhealthy.

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My Company (Cool Taste Ice Cream Truck)

Strengths

The provision of numerous flavors to customers is a key strength that will set the company on the road to success in this highly competitive industry.

The second strength is that the company will focus on the provision of healthy products that will meet the concerns of customers, thereby attracting them to continuously consume the available products.

The third company’s strength is a dedicated sales and marketing force that will ensure the effective distribution of ice cream in New York within the required time.

The focus on well-known flavors such as vanilla and chocolate strengthens the company in the course of its activities in the market.

Weaknesses

The only weakness of the company is that it cannot afford expensive promotions at the begging because it is only a start-up. Thus, this might have a negative effect on its course to success in the market.

Competitive Advantages

A number of competitive advantages will boost the success of Cool Taste Ice Cream Truck in New York. The relevant competitive advantages that Cool Taste Ice Cream are discussed below.

  1. Firstly, the company will be able to compete effectively because of the numerous flavors it offers to consumers. Shimp and Andrews (2013) state that serving the interests of different consumers is the best way to succeed.
  2. Secondly, the strategic location of the company in Brooklyn will offer room for effective competition with other already established firms in New York.
  3. The third competitive advantage is its team of dedicated staff focused on the attainment of quality results in the market.

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Proposed Customers

The company will target the general public, as the ice cream is a product that could be consumed by everyone. However, the public would be targeted through a segmentation process classifying consumers into school-age kids, youths, and adults. Consequently, they will all be served based on their desirable tastes and flavors in the course of their consumption process.

Advertising and Marketing Strategy

Companies only succeed in instances when they are able to put in a place defined advertising and marketing strategies.

The first relevant strategy that will be employed is print advertising. Ferrell and Hartline (2010) agree that in line with this strategy, brochures will be designed, and the advertisements will be placed in the local newspapers in order to inform consumers about the location, products, and all services offered by Cool Taste Ice Cream Van.

Another key advertising and marketing strategy that Cool Taste Ice Cream Van will employ is social media marketing. The emergence of technology has offered businesses the opportunity to attract many customers through social media platforms such as Facebook and Twitter. Thus, this strategy would be used wisely to ensure many customers are attracted to the company within the shortest time possible.

Offers and seasonal promotions of the numerous flavors offered by the company would also be accommodated as part of the advertising and marketing strategy in the company. Shimp and Andrews (2013) opine that from this strategy, consumers will have the chance to enjoy special offers and promotions on a set of ice cream products, thereby understanding their composition and taste. Consequently, this will motivate their consumption in the future, thereby expanding the business.

Pricing Strategy

It would be difficult to compete with the OddFellows Ice Cream Company in terms of pricing because the company is already established in the market. Nevertheless, Cool Taste Ice Cream Van will use the penetration pricing strategy as the initial pricing model. Ferrell and Hartline (2010) are of the opinion that this is a preferred strategy because it ensures every flavor is priced differently based on its demand within the market.

Premises

It will be a mobile retail business; thus, there will be no need for permanent premises for business operation.

Important People

The most important person in the business is Michael Stevenson. He is a specialist in business management and will be in charge of all the operations of the business while receiving the support of other members of staff.

Equipment

In terms of equipment, only a fully equipped ice cream van is required.

Financial Highlights (Projections)

The business will source a large part of its starting capital from a venture capitalist while the sole trader will raise the rest.

Free Sample of Business Plan Summary

The projection has only been taken for the first six months because they will give a clear indication of the direction the business will be heading. In line with the above cash flow projection, the business appears to grow from one month to the next, and this will be positive for Cool Taste Ice Cream Van.

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