Benchmark - Retail Store Major Project Proposal. Management Essay

Benchmark – Retail Store Major Project Proposal
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Benchmark – Retail Store Major Project Proposal
Project title 
Opening a new retail store in the neighboring town as part of the expansion strategy
Project management
As the project coordinator of the company, I will manage the project myself.
Problem definition or project rationale: 
we currently have three stores, and we could wish to open another retail store in the neighboring town. The current existing stores have been in existing for several years around two communities with over 12,000 people. Over the years, we have been building our brand to improve our customer base. As per our mission statement, we offer quality products at competitive prices and enhance customer's convenience. As a result, we have built our customer loyalty, and several customers are coming back to bring more business. As the number of customers increases, we have encountered congestion in our existing retail stores. Hence, it takes longer to serve customers leading to delays and inconveniences. That is not a good move, and we may lose customers. Several customers travel long distances to access our stores, especially those from neighboring towns with no store. Therefore, there is a need to expand our operations by opening another retail store in the neighboring town to reduce congestion, improve customer experience, and enhance flexibility and convenience for customers who hail from far, minimizing travel time to access retail stores.
This expansion strategy will retain existing customers and attract new ones because of easier access to stores, minimal congestion, and minimal waiting and service time because it addresses long queues. Benefits of expanding to the company will include, increase in sales due to an increase in the number of customers and enhanced efficiency in the retail stores, which will improve the company's overall profitability in the long-run.
Project goals. 
Project goals are tangible statements of what the project should accomplish at a specific timeline while utilizing allocated resources (Demirkesen et al., 2017). Therefore, each project should aim to act as an overall driving force and guide its completion. This project aims to increase clients' numbers and increase sales volume to meet the sales target of $ 5 million per year. That will build the company's profitability. The second goal is to improve customer experience by ensuring that customers are served on a timely basis and without delays. The third goal is to ensure that clients in the neighboring community where we intend to open a store have easy access to products without traveling long distances to buy the products. These goals are in line with our company's mission and vision and enhancing efficiency.
 
Objective definition:
Because the project is quite big, we plan to complete it in 10 months. We will spend most of the time looking for a suitable location, acquiring land, building the retail store per the local environmental laws and standards, and acquiring the necessary equipment. We are planning to construct an ultra-modern store equipped with the neces...