Lmk Convenience Executive Summary

Executive Summary

Introduction

LMK Convenience was founded in 2005 for the purpose of providing the community with a convenience store. The business is operated in its own location in Greensburg, PA. The owner of this business is Lynda Kester.

The company can be characterized as a startup business with considerable growth opportunities.

More information about the company can be found in various parts of this business plan.

Products and Services

LMK Convenience specializes in providing a variety of high quality convenience every day needs.

* Snacks

* Cookies

* Pop

* Home Necessities

More Information can be found in the "Description of Products and Services" and "Marketing Plan" sections of this business plan.

Market Summary

The target market of LMK Convenience is families who need quick and cheap items for their homes. LMK Convenience is a small business here to help the community. Since small businesses often do not have the funds available to employ many people, and given the fact that there are only a handful of competitors in the area, there is a need for this convenience store.

More information can be found in the "Market Analysis" section of this business plan.

Competitive Position

There are three other convenience stores around the area of Greensburg, PA. Of the four, only one offers the same services as LMK Convenience. This creates a niche for LMK Convenience since development will be offered. Since LMK Convenience will be operated at its own location with very few employees, overhead expenses will be minimized. This provides LMK Convenience with a competitive advantage in offering lower prices than its competitors. At startup, LMK Convenience will also utilize several marketing techniques to attract new customers.

More information can be found in the "Market Analysis" and "Marketing Plan" sections of this plan.

Financial Position

The estimated funds required to start LMK Convenience is about $30,000. To cover the startup funds, the owner will obtain a business loan in the amount of $20,000. The other $10000 will come from the owner's previous savings account. The loan will be repaid using profits obtained from the business.

The projected first year's income is about $7,000. The number is expected to grow steadily as LMK Convenience is committed to maintaining excellent customer service