Seafoodio Company Analysis
The Seafoodio offers customers the best seafood in last decade. Initially business is mainly wholesale to the restaurants across different states. It purchases seafood directly from local fishermen and contacts all Florida panhandles. It allows choosing the best varieties of seafood available from anywhere. Currently, the company sell over five restaurants across the United States. It has increased 12 percent more than last year. The company is thankful for adding one more restaurant such in the coming year. Seafoodio is planning to restaurants stores and sells seafood directly to the consumers. In the expanded market for seafood, it will show our commitment to quality, freshness and excellent prices for the general public. If customers purchase all at once, it can transfer the savings to the customer. The scheduled investment cost is 150,000 dollars. Additional service personnel will be appointed to assist the customer. David Hasey (owner Hasey Seafood) will invest fifty thousand dollars for this expansion and will also receive a loan of one million dollars in a short period of time.
- Seafoodio was founded as a leader in selling fresh seafood in the United States
- Increase the number of customers who purchase Hasey Seafood by 15 percent over the next years.
- Create discount seafood card/vouchers for regular customers whose purchase will be above 100 dollars per week
Seafoodio’s mission is to offer its customers the highest quality of seafood at best possible prices.
Keys to Success
- The high-quality product will boost the loyalty of the customer
- A site that provides a pleasant environment for family and safe for kids
- Program to create loyalty of the customers
Seafoodio is mainly wholesalers of restaurants in the area. Mr David, the owner of Seafoodio, took advantage of his extensive experience and expertise in the restaurant and communications industry and he worked with local fishermen to build a loyal customer base. James wants to restore the building’s shop to accommodate citizens and open the seafood market to the public.
David Hasey is the sole owner of the Seafoodio’s seafood restaurants.
History of the Company
David Hasey began Seafoodio restaurants responding to the great growth of Maryland. Over the past ten years, the growth rate of the population was about 26 percent in the coastal community. But the most important thing is that tourists visited this area. Last year tourists spent more than five hundred million dollars on consumer business, and the government is also expanding the tourism industry. The majority of these sales are due to regional loyalty. There are currently more than fifteen hundred restaurants across the state, and these numbers ate increasing at the rate of fifteen percent every year.
In this context of growth, David has launched his market. The Seafoodio has five restaurants, and he plans to open his 6th restaurants in Maryland to grab the market.
Company Locations and Facilities
Seafoodiois located at 1234 Riva Rd, Annapolis, MD 54321, USA. After repair, it will have an additional area of up to 200 square feet used in the new retail process.
Currently, Seafoodio offers a variety of seafood at the Maryland restaurant. A new public outlet is dedicated to offer high-quality popular seafood choices. It will draw customers to the restaurant. Seafoodio will have the following seafood products:
- Jumbo Fresh Gulf Shrimp;
- Fresh Gulf Fish Filets;
- Sanddab, particularly Pacific Sanddab
- Sea bass
Market Analysis Summary
Seafoodio has more than two million population, but the area has thousands of tourists annually. The Seafoodio is located in the busy commercial area of Maryland and has excellent pedestrian traffic volume. The expansion of the storage market of two hundred square feet creates a convenient environment for the general public. The interior design of the restaurant will focus on the idea of the outdoor fish market. It encourages the market as a place where ordinary citizens can eat high-quality seafood at wholesale price.
The Seafoodio is focusing on two customer groups.
- Professionals working at Maryland
- Daily tourists
Strategy and Implementation Summary
Seafoodio expands its offering and sells its products directly to the public. The market defines wholesale trade and uses its identifier to publish new services. In a question with the public that “Why pay to retailers when they can get the best quality at wholesale prices.” Additional staff will be hired to serve its customers.
The competitive advantage of Seafoodio is the commitment to quality, freshness and premium price of the market. The marketplace provides excellent transportation for pedestrians and tourists as well.
Seafoodio uses two sales approaches for target customers.
- For professionals working at Maryland: Seafoodio encourages seafood discount in its monthly membership. Professionals are invited to participate for $ 20 a year. Members will pay a difference of almost one dollar per pound. It will lead to significant savings for regularly purchased customers at the restaurants.
- For Tourist: Seafoodio will offer 24 hours free shipping on purchases above one hundred dollars. Customers can choose the day to ship seafood. Customers will receive a regular newsletter containing invitations to purchase seafood again with the same free shipping option.
The following is a very discreet sales forecast for the next three years. Actual sales are expected to be much higher after repair, but I would like to plan other emergency situations.
Before the seafood market, David worked as Henry Wholesale Foods Trading and Wilson Seafood accountant for twenty years. In his last position at Henry Seafood, David developed an excellent fishery contacts network in the Maryland region, with an annual turnover exceeding two million dollars. His strengths are always communication skills with clients. David holds a bachelor’s degree in marketing from the University of Maryland. His first graduate post was Transition Manager at the Wilson Seafood restaurant. Three years later, he was appointed a director. During this time, David demonstrated the ability to manage the team efficiently.
The employees of the Seafoodio is as under:
- Manager (1)
- Delivery Staff (3)
- Sales staff (2)
- Market staff (5)
- Cleanup Staff (3)
The following is a financial plan for the expansion of the Seafoodio including the new retail space in the market.
The table and chart as under shows Break-even Analysis for the coming year.
Projected Profit and Loss
The table and chart as under shows balance analysis for the next year.
Projected Cash Flow
The table and chart as under shows the projected cash flow for three years.
Projected Balance Sheet
The table as under shows the projected balance sheet for three years.
Below is the business ratios of this plan. Industry sector indicators are presented based on Standard Industry Classification Code (SIC) 5146 Seafoodio for comparison.
SWOT Analysis of Seafoodio
S.W.O.T. is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. It is the organized list of the business of the study undertaken that shows the strengths, weaknesses, opportunities, and threats of the business. The current study has highlighted the strengths, weakness, opportunities and threats for the Seafoodio Company those are listed as under:
The Seafoodio Company has the following strengths in his field of business as under:
- Huge varieties of fisheries
- Large number of colleges, university and research organization have the fisheries department
The Seafoodio Company has the following weakness in his field of business as under:
- Inadequate cooling chain (deep freezing) at the stage of marketing
- Complex policies and procedure by the Government
- As compared to EU, USA has the low technical staff in the fisheries sector
The Seafoodio Company has the following opportunities in his field of business as under:
- Price parity between fishery products and other meats
- Diet and fishery products
- BSE disease
- Consumer preferences is changing towards fast food and fish products
- Providing financial and technical aid for fishery products
The Seafoodio Company has the following threats in his field of business as under:
- Effects of aquaculture on tourism
- Overfishing and pollution in the Black Sea
Concluding the whole, there are some serious issue in the fisheries sectors. These issue includes the low competition, huge marketing and storage issue, non-availability of the technical staff respectively. The government should make flexibly policies in the fisheries sector to attract professionals and investors from the other sectors and encourage them parallel to the challenges those they are facing in this sector. It can be concluded that the treatments in the field of fisheries might be considered as the opportunities for the parallel development of the aqua sector in the United States. The government should enhance the budget for the research and development programs in the fisheries sector to encourage their production and supply. The demand of fish is increasing due to increasing preferences of the consumers towards the fast food. The development of the fisheries sector will also improve the relating department and offers more employment opportunities and it will also help in lowering down the rate of unemployment in the United States. It should be accounted that the government should only promote the environmental friendly techniques and processes for the development of the fisheries sector because the global warming will have serious consequences on the overall climate of the globe respectively.
Exit Plan of Seafoodio
The exit plan is the way the company uses to abandon the product, department, or industry as a whole. The exit strategy is implemented when an enterprise decides that it is no longer useful to actively engage in a particular market or industry. If they decide not to join the company, the owner will begin implementing the exit strategy described in the company’s business plan. As the competitiveness of the market increases, the exit strategy developed is very valuable, and it is the only thing that prevents the owner of the company from losing everything. The same applies to venture capitalists and entrepreneurs. If they strongly recommend that Seafoodio Company has developed an exit strategy for their business plan and knew the way all the participant’s business processes find the time to use the work finally, this will help the company due to many reasons.
Most companies go through the same four stages of the business lifecycle, in most cases, exit strategies are executed, and owners and stakeholders do not lose everything. When deciding whether to go out, the company usually takes into account warning signs such as low price, marketing or profitability. It is just the beginning, and many other factors need to be analyzed. The final result is whether the company can make a profit, or it will not be savings.
Seafoodio Company used liquidation as an exit strategy. They can liquidate the whole company or only a small part. The settlement that allows smooth exit is often overlooked. Most business owners will never leave because they regard this as a failure, but the biggest failure is the loss due to being unprepared. Almost 50% of small companies in the US are proved to be in this situation before the 5th year of their sales.
In conclusion, there are many things to own or invest in the business. Even from ideas to ideas, opening work and investment, even before shocks and burning may come out, but each element depends on business success and investment. For example, an exit strategy can mean the difference in finding success and finding out how to start from the beginning without considering secondary details from the beginning. For investors, domestic and foreign business knowledge, as if it realized themselves, the amount produced as important as the owner.
Anderson, James C., James A. Narus, and Das Narayandas. Business Market Management: Understanding, Creating and Delivering Value. Pearson Prentice Hall, 2009.
Eastham, Jane, Liz Sharples, and Stephen Ball. Food Supply Chain Management. Taylor & Francis, 2007.
Huss, Hans Henrik. Assessment and Management of Seafood Safety and Quality. Daya Books, 2007.
Schermerhorn, John, Paul Davidson, David Poole, Peter Woods, Alan Simon, and Ellen McBarron. Management: Foundations and Applications (2nd Asia-Pacific Edition). John Wiley & Sons, 2014.
Smith, Howard, and Peter Fingar. Business Process Management: The Third Wave. Vol. 1. Meghan-Kiffer Press Tampa, 2003.
Stanford, Melvin J. New Enterprise Management. Reston Publishing Company, 1982.
 Hans Henrik Huss, Assessment and Management of Seafood Safety and Quality (Daya Books, 2007).
 James C. Anderson, James A. Narus, and Das Narayandas, Business Market Management: Understanding, Creating, and Delivering Value (Pearson Prentice Hall, 2009).
 Howard Smith and Peter Fingar, Business Process Management: The Third Wave, vol. 1 (Meghan-Kiffer Press Tampa, 2003).
 Jane Eastham, Liz Sharples, and Stephen Ball, Food Supply Chain Management (Taylor & Francis, 2007).
 Melvin J. Stanford, New Enterprise Management (Reston Publishing Company, 1982).