Business Problems for an Asian Supermarket

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Case Study – Business Problems for an Asian Supermarket
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October 9, 2018
Introduction
Opening a business these days entails many risks and advantages. Some of these risks are associated with the conditions of the market itself (external), whereas some are due to the capabilities and organizational aspects of the business (internal). In contrast to this, re-opening a closed business could have a better position as compared to those which starts from scratch. This is because some of these businesses have already gained some grounding, clients, as well as experience before it closed. However, this does not mean that re-opening a business is easy. In fact, this process could be daunting especially when the cause of closure includes a past due, debt, or any other liabilities that still needs to be paid for. In this article, a case study of a foreclosed Asian supermarket in Amherst, Buffalo would be analyzed. In doing so, the author has conducted a short interview with the owners about the past and present problems that they are facing. Consequently, an appropriate solution would be provided based on the interview and a research of possible opportunities within the same market. In the following sections a new Mission Statement, Business plan, Financial Projection, Marketing Assessment, and Investment would be presented. Since the store, has no tentative name yet, the author would like to propose a the business name ‘Asian Mart’ (tentative), in order to appeal to its target clients within the area. All in all, the authors believe that based on the circumstances presented earlier, a combination of a click-and-mortar as well as a high-volume, low margin business model would be best to meet its goals.
Mission Statement
Since the owners to the business would want to re-open an supermarket primarily for Asian goods, the most appropriate Mission Statement for the business would be: “To become the largest supplier of Asian goods and commodities in Buffalo, while bringing ‘home’ closer to Asian consumers.” The main reason why the authors proposes this mission statement is because it encourages both the employees and the owners to listen to what Asian consumer wants, while also focusing on growth. In turn, this combination of a ‘customer-centric’ and ‘growth-oriented’ approach, should lead to growth in the said market.
Business Plan
Business Overview
Ever since the last decade, the number of Asian migrants in the United States has exponentially increased. In Amherst alone, recent estimates show that about 2.0% of the whole population is primarily composed of Asian migrants CITATION Amhnd \l 1033 (Amherstida.com, n.d.). Despite this demand, it is surprising that the first Asian Supermarket that offers all kinds of novelties and commodities from the region, was only opened last year in Niagara Falls CITATION Vau17 \l 1033 (Vaughters, 2017). This shows that a significant market for Asian goods still exist within the community, despite the number of smaller Asian goods retailers.
Asian Mart – Executive Summary
Asian Mart would be a supermarket located in Amherst, B...