KLBlakney
BUS 599 -Week 8 Discussion – Business Valuation For this week’s…
BUS 599 -Week 8 Discussion – Business Valuation
For this week’s discussion, please respond to the following:
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
What should you look for when performing a business valuation?
What method would you use to calculate the value of your startup and why?
Company Name
The name of the company “Yummy Blakney” Company. The company produces and sells snack food to the public. The word Yummy makes potential customers get enticed by its products and services. The name is unique since its derived from my last name and the word Yummy inserted to make it more enticing to the public or potential customers. Since this would largely be a family business, having a simple and unique name that is derived from proprietor’s name, it becomes easy to identify the company with the family. As such the name is significant as a form of identity, easy to recall, and designed in a way that makes it appealing to the eyes of the public.
Company Description – Product or Service
The company seeks to produce and sell Yummy Fries (Fresh Cut Hispanic or Latino Fries) and a diverse offering of unique, culturally diverse, dipping sauces. This implies that the company would offer both products and services as customers who would opt to eat inside the business premises or those wishing to carry the snacks home. Due to the increasing demand for fast food, the company seeks to provide high quality services to meet a high demand while ensuring quality is above standard to command a large market share and remain competitive. The Yummy fries will target all age groups and particularly the teenagers who are the majority, aged 14 to 25 who would bring their families and friends to share yummy moments as they enjoy the Fresh Cut Hispanic or Latino Fries and a diverse offering of unique, culturally diverse, dipping sauces. This primary target market is characterized by those having fixed or limited incomes seeking a value-price relationship that does not stretch their budgets. The second largest target market would be those aged 25-35 and who mostly are restaurant/lounge user group with flexible budgets seeking greater than price/value relationship.
Mission Statement
The mission is to provide our customers with the freshest, highest quality Hispanic or Latino fries in a clean and friendly environment while making sure they are satisfied every time. We are unique because we use fresh-cut potatoes that are seasoned with authentic Hispanic or Latino spices. “Our Mission is to offer our diverse customers Fresh-Cut Hispanic or Latino Fries, with specially made, culturally diverse, dipping sauces to bring Yummy flavors to snacking.”
Core Values
The core values that could be applied to my business are quality, freshness, authenticity, and customer satisfaction. These values can help guide the company’s mission statement and culture.
1. Quality: We place a high value on the quality and freshness of our products to give our consumers the greatest choices for their health and wellbeing.
2. Freshness: Can help ensure that customers are getting the best quality products possible.
3. Authenticity: Can help build trust with customers and create a sense of loyalty.
4. Customer Satisfaction: Is important because it can lead to increased competitiveness and growth, as well as increased long-term profitability.
In Fresh-Cut Hispanic or Latino Fries, these principles can help me stand out from other businesses by providing fresh and authentic food that customers will love. By focusing on customer satisfaction, you can ensure that my customers are happy with their experience and will be more likely to return in the future.
