FRANCHISE BUSINESS PLAN

SIA ANAND Lawrence High School 2525 Princeton Pike Lawrenceville, NJ 08648 February 22, 2021 Table of Contents I. EXECUTIVE SUMMARY...... 1 II. BUSINESS HISTORY, BACKGROUND AND OBJECTIVES ...... 2 a. Describe the company for which you wish to purchase franchise rights...... 2 b. List your short-term and long-term objectives...... 3 c. Describe the company’s major successes and achievements to date...... 4 d. Describe the company’s challenges and obstacles...... 4 e. Describe the requirements to franchise...... 5 III. BUSINESS ENVIRONMENT...... 5 IV. PRODUCTS AND/OR SERVICES...... 6 a. List and describe the products and/or services offered...... 6 V. PRESENT MARKET...... 7 a. Describe the present market...... 7 b. Describe the growth potential in your market...... 8 c. Describe the current pricing policy...... 9 d. If the business is seasonal, explain how the company adjusts to seasonal factors...... 9 VI. COMPETITION...... 9 a. List the company’s primary competitors in your market...... 9 b. List the advantages the company has compared to its primary competitors...... 10 c. List the disadvantages the company has compared to its primary competitors...... 11 VII. MARKETING PLAN...... 11 a. Describe the company’s existing marketing techniques, strategies and tools...... 11 b. Describe the marketing techniques, strategies, and tools you will use in the future to promote the business...... 13 VIII. MANAGEMENT AND ORGANIZATION...... 13 a. Describe your management team and its strengths and weaknesses...... 13 b. Describe your plan to further develop your management team...... 14 c. Describe your management succession plan—who will take over in the event of the incapacity or continued absence of any owner or key employee...... 14 d. Describe the need for, and how you will obtain, additional management personnel based on present and projected sales...... 15 IX. BUSINESS RESOURCES...... 15 a. List the major operating equipment that you will purchase or lease...... 15 b. List the major suppliers, location and payment terms...... 15 c. Identify other outside resources used or needed to fulfill customer requirements...... 15 d. Describe quality control procedures...... 15 e. Describe the availability of skilled labor to meet your company needs...... 16 f. Describe the type and extent of necessary training that will be required to upgrade the skills of labor and administrative employees and the estimated cost...... 16 g. Projected number of full-time and part-time employees...... 16 h. Organizational chart...... 16 X. FINANCIAL PLAN AND DATA...... 17 a. Describe the company’s sales and profit trends...... 17 b. Outline your strategy and timing for obtaining capital...... 17 c. Two-year projected operating statement...... 17 d. One-year projected cash flow statement...... 18 XI. CONCLUSION...... 18 XII. BIBLIOGRAPHY...... 19 I.­ EXECUTIVE SUMMARY ═══════════════════════════════════════════════════════════════════════ COMPANY OVERVIEW , Inc. is a private family-owned business that originated in as an iron foundry and textile manufacturer. Back then, it was incorporated as the Millville Manufacturing Company. Towards the end of the 19th century, the owner, George Wood, saw the opportunity to take advantage of the dairy market and opened a small milk plant in rural Pennsylvania. A local Native American Tribe named the company Wawa in honor of the Canada goose, their favored game. This milk plant specialized in processing and the home delivery of “doctor certified” milk. But once again, consumer habits and the market were changing; textile manufacturers were moving out of the area and consumers began shopping at supermarkets. So Grahame Wood, George Wood’s grandson, began to evolve and fit the needs of the community. In 1964, the first Wawa Food Market opened in Folsom, PA. The family is close-knit and every member has a part at the company—if they choose to follow that path—whether they are staff headquartered at Wawa headquarters in PA, or simply serving local communities by being restaurant General Managers. I would like to extend this brand to a location in Pennington, New Jersey, and open a free-standing location equipped with a drive-thru window and fuel stations.

PRODUCTS AND SERVICES Wawa offers a wide variety of products and services: fresh, built-to-order foods, beverages, award-winning coffee, fuel services, and surcharge-free ATMs. Today, Wawa strives to be the epitome of convenience, quality, and hospitality, as demonstrated through their extensive menu, cleanliness, and friendliness of employees. They also have their own line of branded products! And to keep their customers engaged with the brand, they have promotions through their Wawa Rewards program. Wawa also has secret menus for major holidays like Halloween and Valentine’s Day to get customers excited about their next Wawa visit.

＿ 1 TARGET MARKET

Primary Market ☕ Local students (ages 16-21) & their parent’s (ages 45-60) ☕ Travelers (likely Gen Z, Millennials, Gen X)

Secondary Market ☕ Anyone seeking convenience and quality food (or those in search of a specific item) ☕ Surcharge-free ATM users

COMPETITION Wawa’s major competitors are 7-Eleven, QuickChek, Subway, and . Each in its own unique way, however, does not pose a large threat to the success of a Pennington location. The majority of the competitors are located at least 15 minutes away from this location, allowing a large crowd from the local population to be drawn to this location. These competitors are generally not as clean, and Wawa also provides more competitive pricing and menu options.

FINANCIAL INFORMATION A total of $50,000 will be invested by franchisee Sia Anand. The rest of the startup costs will be covered by the Wawa corporation. There will be an on-going royalty fee, 10% of sales and 35% of pretax profit, paid to Wawa every quarter.

EXIT STRATEGY Once the franchise agreement has come to an end (each agreement is signed for a different amount of time), the Assistant General Manager will succeed into the position of General Manager and take over all duties. If the Assistant General Manager chooses not to accept the role of General Manager, either another high-positioned Manager will be considered for the position or an outsider will be interviewed and appointed for the role.

II.­ BUSINESS HISTORY, BACKGROUND AND OBJECTIVES ═══════════════════════════════════════════════════════════════════════ A. Describe the company you wish to purchase franchise rights for I propose to establish a drive-thru Wawa location in Pennington, New Jersey. Wawa franchises are all established as free-standing locations (as convenience centers) are often accompanied by a gas station. Just recently, a singular Wawa was adapted to include a drive-through window, and I propose the Pennington location include a drive-through option as well.

＿ 2 B. List your short-term (next 12 months) and long term objectives

Short-Term (0-12 months) Long-Term (1-3 years)

☕ Brand Perception: to positively increase quality, health, ☕ Revenue: to increase revenue by increasing the and friendly service by Wawa employees, therefore transaction average and market base fulfilling Wawa’s core purpose to “Value People and ➤ At an 85-day operational establishment, “both Delight Customers” sales and volume are running 50% higher than the ➤ This can be done by hiring team members and shift industry average” leaders and thoroughly training them for Wawa’s ➤ Earn a gross revenue of at least $11,000,000 for customer service needs the first year, and increase by at least 10% per ➤ Brand the company as familial by hosting consecutive year (until a plateau is reached) family-friendly activities, sponsoring ➤ Break-even by the 4th year family-friendly sporting events, and providing ☕ Campaigns: to promote new menu items that are created services that support families by corporate, redefine primary and secondary target ☕ Product/Brand Awareness: to advertise Wawa and markets, introduce a tertiary target market, implement measure the impressions made of a new opening in technological media selections Pennington, New Jersey ➤ Appeal to a greater target market, Gen Y, through ➤ Measure impressions made by creating separate specialized campaign(s), i.e., email marketing advertising campaigns per social media channels ☕ Charity: uphold all commitments and continue ➤ Encouraging employees to volunteer through the community donations (separate of donations and causes The local community can increase the number of Wawa Foundation supports) impressions made to customers

＿ 3