World Eats 

  Authentic Snacks

Business Plan
December 21st
​ 2018-2019
​

For
​World Eats
7499 Dorchester Rd, North Charleston, SC, 29418
(843)-300-4118
worldeats.sc@veinternational.org
(843)-300-4123
Table of Contents
Executive Summary 3
Company Description and 4
Strategy
Company Description​ and Organization 4
Market and Competitors 8
Product Descriptions and Analysis 10
Sales and Marketing 12
Financial Information 14
Works Cited 21
 Executive Summary      
World Eats is a startup limited liability specialty snack company. We sell snacks, pastries, drinks, and
snack boxes. The snacks we currently sell consist of milk chocolate, dark chocolate, white chocolate, caramel
chocolate, caramel popcorn, cheddar popcorn, pumpkin spice popcorn, assorted candy, Twix's, homemade
gourmet chips, veggie chips, beef jerky, sunflower seeds, granola bars, crackers, British snacks, Chex mix, and
pork rinds. The drinks we sell are Coca-Cola and sweet tea. We are currently not selling a snack box, however
we sold Halloween themed snack boxes and we are in the process of developing Christmas and Japanese snack
boxes. We also include souvenirs from the current theme, whether that be the country of the month or the
season. Our overall sales are currently at $29,483.12. Our target market consists of teenagers and young
adults. We are focusing on the under 25 age group as there is a high demand for snacks and unique flavors but
a shortage in funding. With our affordable pricing we are expanding on the opportunity this niche market
presents. Most of the consumers within our target market are paying top dollar for simple snacks and flavors
that have inflated profit margins. We plan on putting a stop to this problem by reducing our profit margins to
reasonable prices and allow for the consumption of tasty snacks and flavors for consumers within our target
market. As you can see in the recently published customer expenditure chart below for the Bureau of Labor
Statistics, consumers within our age group and expending more funds than they bring in. Thus causing the
average young adult to be in debt due to expenditures.

Age Income Expenditures

Under 25 $27,914 $30,373

25-34 $59,002 $48,087

35-44 $78,385 $58,784

45-54 $78,879 $60,524

55-64 $74,182 $55,892

65-74 $53,451 $46,757

75 and older $34,097 $34,382

Furthermore, young adults within our age group are spending an average of $2,096 on food away from home.
This high allocation of funds is due to the ridiculous profit margin our direct competitors are employing. By
decreasing our profit margins we believe that we will not only see an increase in cash flow, but also a decrease
in funds being allocated, by our customers, to food away from home. This decrease would not only benefit our
business, but also our customers’ finances.

Future goals for our company include obtaining partnerships, investors, and loans. We plan on using funds
obtained through these methods to further develop our company. We plan on allocating these funds toward
advertising, increasing employee salaries, and investing into other companies.

​ Company Description and Strategy

​ ​Basic Description
World Eats was founded on October 9, 2018 as a limited liability specialty snack company. Our
company provides customers with unique and affordable snacks from different countries all around the world.
We have also adopted a creative and convenient way of snacking involving the delivery of snack boxes to
customers. These snack boxes are planned to contain a variety of snacks from places such as Japan, France,
Germany, Poland, Mexico and many more. Within our snack boxes lie a variety of different items such as
snacks, candy, pastries, chocolate, popcorn, drinks, and souvenirs.
 Business Rationale
Consumers within our target market often crave unique flavors. This crave has a developed a
high demand in the food industry without much competition, as not many companies offer a wide
variety of unique flavors. The current supply of these unique flavors is low due to our direct
competitors not offering the wide variety that we do. By increasing the supply in unique flavors
offered we have effectively cornered this niche market. We not only plan to offer these unique flavors,
but we also plan to make them affordable. By offering flavors from countries around the world at
affordable prices we have stated the craving of unique flavors from young adults. By understanding
what flavors our customers crave, we constantly update our website and offer more flavors. We gain
an understanding of the demand within our market by sending out surveys to numerous VEI firms.
Once we receive responses that are large enough to model our customer base off of, we then
implement changes to our website.

Many customers within our target market are students and have little to no income. We as a
company do not allow lack of funds our customers posses to sate their craving of unique flavors to
dictate whether they can diversify their palate. Instead, we have set out on a mission to for the
betterment of our customers’ mental health. By supplying our customers with affordable yet diverse
options, we believe we are close to accomplishing our goal of satisfying our customers’ cravings. The
absence of something to satisfy a craving leads to emotions of sadness and anger, which contribute to
mental health problems.
We accomplished the goal of providing affordable snacks to teenagers by putting snacks in
snack boxes along with selling our snacks individually. These snack boxes contain multiple snacks that
we hand select to ensure the highest of quality and flavor. We sell these snacks and snack boxes on our
website where customers can easily purchase our products. We value customer feedback greatly as our
goal is to provide teenagers with the tasty unique snacks they want.
Now, upon taking a survey sent out by the sales and marketing team, customers have
responded and expressed concerns in these areas. We have since then made changes to our products in
order to conform to the wants of our target market.
 Mission Statement
World Eats is determined to provide teenagers with unique, affordable, and cultural snacking
options. We gather snacks, pastries, and drinks from countries all around the world and then we
deliver them to our customers. We strive for creativity and ingenuity by incorporating ideas and
features such as snackboxes, monthly subscriptions, gluten and vegetarian options, along with
souvenirs. Our company does not only operate in our customers’ interests, but also in the interest of
our employees. We have developed 401(k) plans for our employees along with incentives. Our
incentives include, but not limited to, holiday parties, cash bonuses, and extra credit. World eats
operates as a collective unit in decision related processes. We employ the use of internal and external
surveys to gain a collective input on business moves such as partnerships and loans. We do so in
order to boost employee morale and to allow for everyone to have a say in this business journey we
are embarking upon.

 
Management and Organization
 

 
The chart above represents the level of every employee and their positions. The Chief
Executive Officer is Petar Babec and he is at the head of the entire chart. His Admin Associate is
Graham Glaab and he manages the administration branch of the company. He assists the Chief
Financial Officer with whatever he needs in regards to administration work. The Chief
Technological Officer is John Kinsella, he leads the technology department in everything they do
and he reports to the Chief Executive Officer with a status report every week of what the
technology department did in that week. He has four employees in his department. Those
employees include three Web Designers and one Database Manager. The Web Designers design
the website and work on other templating assignments with the rest of the technology department.
The Database Manager makes sure everything is recorded online and that all of the records are
kept in the Google Drive folder that the company shares. He manages all of the information we
upload to the folder and makes sure it goes in the right category. He often also assists the Web
Designers in their efforts. The Chief Operations Officer, Conner Harbaugh, is apart of the
Administration Department. He manages the Graphic Design Associates and the Social Media
Associates. He also looks over the Vice President of Human Resources and the Vice President of
Sales and Marketing. The Human Resources department has two other employees which include
the Benefits Associate and the Human Resources Associate. The Vice President of Human
Resources and both of the associates all work together on their projects in the business. The Vice
President of Sales and Marketing looks over the Sales and Marketing Department. He has five
employees he looks over. Those employees include: Two Marketing Associates, Two Sales
Associates, and a Graphic Designer. The Graphic Designer works with the Sales Department
because they tell him what they want on the on the boxes and they think will sell. The Sales
Associates look at other Virtual Enterprise businesses and compare prices so they can create the
prices and decided what we are selling and how much we are selling it for. They have created
over one hundred different products to sell on our website. The Marketing Associates organize all
of the sales and plan all of our marketing activities. The final department is the Financial
Department. Our Chief Operations Officer doubles as a Chief Financial Officer and he looks over
the Financial Department. The Financial Department has five employees. Those employees
include the Accounting Associate who doubles as an Admin Associate. There is also an Accounts
Receivable Associate and an Accounts Payable Associate. The other two employees are the
Purchasing Director and the Branch Branker. The Accounting Associate assists the needs of the
rest of the people in the Financial Department. The Purchasing Director manages all of the
purchases that the company needs to make in order to make their product. The Branch Banker
manages the bank accounts and the company’s bank account. Our Branch Banker, Caleb
Hudgens, manages all of our big transactions with other companies and pays everyone’s checks.
He also watches over the status and health of the companies and shows the employees how to pay
their bills in Virtual Enterprise. The Accounts Payable is the person that manages the payments
that are sent out and the Accounts Receivable managers the payments that our company receives.
 
 Market and Competitors     
  
Real Industry Analysis

World Eats is in the Food Retail Industry. This industry is currently growing as over the last ten
years total annual sales have increased from approximately two trillion to five trillion dollars (fig.
1). This tells us that World Eats is joining this industry at the right time, for we are sure that there

 
is clearly a growing demand for companies in this Food Retail Industry, since sales are increasing.

​ ​Positioning:​
Our company presents itself as a service that allows all people to get a wide variety of foods at an
affordable price. The appeal to buyers is that when you get the food, you learn about it and you get
to connect with the locations that it came from and the traditions behind the food. Our business
looks to sell to firms of all incomes that allows us to sell to a larger audience due to the prices
being reasonable.

Demographics:
The consumers we are trying to target includes teens and young adults. We feel that this is a good
target due to younger people being more curious about the world and willing to try new things. The
social classes we are targeting with this product are the middle and upper classes because this is not
a necessity to people, but is a want. The fair pricing for the product allows the middle class to be in
the demographics of consumers.

Business Risks
Risks the company could face are mainly investing the time and money into making a themed
snack box and not making income from it. To prevent this risk, the company could sell the snacks
purchased for the boxes and sell them separately on the website, this way money would not be lost
from the lack of sales.
 

SWOT Analysis:
Strengths
We have a large class which allows for
everyone to only have to work one job
and it spreads out the workload
Since we have so many people we can have
more people assigned to and working on
each task
We have a good business concept
We have released multiple surveys to other
schools to gather statistics about our concept
We have a great website
https://sites.google.com/psaschool.org/world
eats
We might be able to attend a trade show in
New York
Opportunities
Weaknesses
This is our first year in Virtual
Enterprise International so we’re
a little inexperienced
Bad communication and lack of
fluency in coordination
We need to work on refining our
business concept to be exactly
what we want it to be
There are other successful,
established firms that have
similar business concepts
Amount of time we have to
complete each task in class could
vary day to day
Weather days and school breaks
during the year
Threats
  ​ ​ Product Descriptions and Analysis

INDIRECT
32 below:​ They sell different types of popsicles like water based, cream based, limited edition,
and they have lots of bundles and reasonable prices, with many different flavors. We have a
competitive advantage over this company because of our variety. On their website, they only
sell popsicles, while our company sells varieties of food from around the world at a very
convenient price.
https://ve32below.wixsite.com/32below

AllRite Drinks:​ This company basically just sells two different types of drinks that you can buy
in a case that includes 24 drinks in the case and the prices are below 50$. Our advantage over
this company lies with the amount of products. On their website, they only have 2 products,
compared to our company that has many more. (About 60)
http://allritebeverages.wixsite.com/allrite/allrite-drinks

DIRECT
ACE-IT:​ On their, website they have pictures of snack boxes like our company, but they sell
snacks in two different categories Sweet Snacks and Salty Snacks their snacks are sold
separately and not in bundles or boxes so they are competition but the website is very
misleading. The main advantage that we have over this company is that our snackboxes are
themed from around the world as well as seasonal. As of the current moment, we are selling a
Japanese snack box as well as a holiday snack box, and this variety of themes and temptations
to eat food from around the world can be a big advantage and pulling factor when people
decide where they want to buy from, and people may get bored of the same base product, no
matter how you try to change it.
https://aceitsnacks.weebly.com/

A Lil Twist:​ They sell lots of pretzels like hard pretzels, soft pretzels, and even snacks crates of
pretzels. They also have dipping sauces you can buy with your pretzel, they have vegan
pretzels, gluten free etc. Most important of them all you can buy them in bundles and
singular. Our advantage again lies with our variety that we have at our company. A Lil Twist
simply does not have the edge that we have, and that is because they only sell pretzels.
https://aliltwistcp.wixsite.com/aliltwistcp/our-pretzels

All Natural:​ This company sells organic meals, drinks, and smoothies. They also have meal
plans that you can subscribe to for pretty high prices with their 2 packages. That’s kind of
what I think. We have an advantage in terms of our target buyers, teenagers. Yes, their
products are nice, however they are probably aimed at older people, not teenagers that use
VEI. There are few teenagers that would buy something like a smoothie over something that
we offer like chips, drinks, sweets, or food from around the globe.
https://allnaturalnyc.wixsite.com/allnatural/packages

Appy Hour:​ This company just sells 4 different boxes, for different scenarios they have a
tailgate box, a gluten free box etc. This company is at a supreme disadvantage and that is
because, like other companies we are competing against, they do not have a lot of products. In
fact, they only have about 6-7, which lets us tempt our common buyers with more choice of
what they can get.
https://coliningram0.wixsite.com/appyhour

Sunny Snacks: This company sell individual snacks to consumers. The company website they have is
well organized and makes locating and ordering a product very easy and is a strength they have.
However, the company has limited itself to selling cookies, granola bars, and chocolate cups which
does not allows them to get nearly the size of the audience World Eats receives. Another aspect
about the company to note is that all of the products they offer are nut free which limits their
audience furthermore but gets a stronger customer base of people with nut allergies.
https://sunnysnacks.wixsite.com/sunnysnacks
 ​ Sales and Marketing

​Target Market and Segmentation

Our target market consists of young adults under the age of 25. We are primarily focusing on the high school
and college students within that population. We are based in the United States, however we sell to consumers world
wide. We do not discriminate based upon income or any other factors for that matter, in fact we are targeting
households of lower income because we have implemented affordable prices for all of our products and our mission is
to supply those with lower incomes with unique and affordable flavors.

​ ​Product:
A box that is mailed to customers that contains different snack items that come from all around
the world. The order will also contain an item from or inspired by the country that will likely be a
souvenir.

​ ​Price:
Prices will be different for each size of World Eats box ordered. The Small box will be $150
(25 dollars’ worth of snacks inside) [estimated 30% of total boxes sold], the medium will be $350 (50
dollars’ worth of snacks inside) [estimated 50% of total boxes sold], and the large will be $450. (75
dollars’ worth of snacks inside) [estimated 20% of total boxes sold] {123 small 204 medium 82 large:
proportional for every 409 boxes sold).

​ ​Placement
One of the places where we sell our products is in classrooms doing presentations of the company and
the website. Once these are presented, the viewers of the presentation are given checks to write to the
company and then they place an order on products they viewed on the website.
 ​Promotion

From the comfort of your abode get snacks from around the globe!
2. Our product is aimed at high schoolers
3. The product is marketed with ads, social media, and websites
4. Ads that bring attention to high schoolers
5. They are both food boxes that are shipped to you monthly
6. This product will be successful because it has the souvenir to set it apart from the other snack
box products
7. This is our firm so it's impossible to gain knowledge from it

​ ​Discussion of Business Risks

The risks that may keep our firms for achieving our goals is the uncertainty of obtaining investments,
loans, or partnerships. Without any of these modes to produce funding, we may not be able to thrive within
our marketplace for a while since we would have to build our funding solely by ourselves.The risks that may
keep us from meeting our financial and sales projections would be the ineffective marketing and ineffective
pricing. We could solve both of these situations by establishing effective marketing by focusing more on
advertising and lowering our prices, which would not only help us meet our financial and sales projections but
also our funding goals. By marketing more effectively and lowering our prices we would effectively cut out
our competition and we would see a great cash flow into our business which would take away the need for
funding from outside sources.
 Current Economic Conditions
Due to World Eats selling internationally, it is important for use to understand how the exchange rates
work. While we sell to all nations, our main sources of foreign currency come from the Euro. Currently the
Euro is rising in how much it can be exchanged for one dollar, but the euro is still worth more than a dollar
(fig. 1). This means that prices when selling in other countries with the Euro would be lower, which could
cause and lower sales due to it being considered too expensive.

 
(Fig 1)

Financial Information     
Our financial statements are attached. Since we just sold our first products last week, we do not
have a lot of financial information.
 
 Our Break Even Analysis​: 

Our Break-Even Analysis shows the connection between the number Snack Boxes that we sell and the
revenue that we make. We don’t have any fixed costs so our total cost would only be affected by the price of
what we put in the boxes.

 
 
 
 
 
 
 Summary of Profit and Loss Statement

 
 
Balance Sheet
​Monthly Profit and Loss Statement
 ​Financial Write-Up
● Our financial sections covered the annual and monthly projected income statement. It also covered the
balance sheet and the summary of profit and loss for monthly and yearly. A lot of what was on the
balance sheet our program didn’t take into account because we were new so that is why there were so
many zeroes. The yearly projection shows us going in debt though but the business will still have a lot
of sales.
 Works Cited

Foster, Ann C. “Consumer Expenditures Vary by Age : Beyond the Numbers.” ​U.S. Bureau of Labor
Statistics,​ U.S. Bureau of Labor Statistics, Dec. 2015, www.bls.gov/opub/btn/volume-4/
consumer-expenditures-vary-by-age.htm.