Sarrica’s Market is a new business located in downtown Moab, Utah. The store is an upscale international grocery and delicatessen with a distinct menu that includes authentic, hard to find ingredients from around the country and the world. The facility will include a sixteen person capacity eating area, deli/kitchen with counter and check out area, grocery/gift area, and a public restroom.
The mission of Sarrica’s Market is to provide Moab, Utah’s residents and visitors with a combination of quality, authentic, hard to find, grocery items and prepared foods, with good service and a pleasant atmosphere with the warm feel of an Old-World outdoor market. Our motto is “eat and Enjoy.”
The deli will provide sandwiches, salads or specialty drinks. Gift items will complement the international theme of the store and include a limited selection of kitchen wares, cookbooks, picnic items, and original hand-sewn items and jewelry. Gift baskets will also be available in the store and over the internet. All of the recipes from the deli will be used to highlight the products sold in the market.
The specialty and gourmet foods market is booming all across the country. Quality food is what consumers are looking for. Large cities often have sections dedicated to ethnic food and culture. As rural America transitions away from agriculture and natural ressources, to become more dependent on tourism, more people are coming to Moab. These new residents are not able afford the finest ingredients in big cities so they are looking for a rural solution. Many Moab residents and visitors expressed their desire for a local gourmet foods store.
Sarrica’’s Market will provide customers with a combination of a ‘#8220’ local shopping experience and a wide selection of gourmet foods previously unavailable in this highly populated rural area. Sarrica’s Market is a convenient and attractive alternative to ordering online, or having to lug fancy groceries back from far-flung cities (many hours away), especially during winter.
Sarrica’s projections for net profits rising over the first three year is a good indicator. This is partly due to the expectation that seasonal fluctuations in sales will diminish as we increase our local client base. These forecasts take into account the performance of similar cross-market gourmet food stores in Moab.
Sarrica’, Market’s owners have contributed $24,000 and sought a $100,000 small-business loan. These loans will pay for the start-up costs of the business. They will also be repaid using the cash flow from the business in five years.
1.1 Mission
Sarrica’, Market’s mission is to provide Moab and Utah’s residents with an upscale grocery, gift shop, as well as a delicatessen, that specializes exclusively in high quality, authentic, difficult-to-find groceries.
1.2 Goals and Objectives
The following are the goals and objectives of Sarrica’s Market:
- Get the necessary financing ($24,000 in personal/investor loans and $100,000 in small-business administration loans).
- You can build a service-based organization that exceeds customers’ expectations and increases repeat client service by at least 20% per annum through superior performance.
- Establish yourself as an established destination in the community with a customer satisfaction rating of 90% after the first year.
- Attain cash flow independence by the end the first year.
- Sales reached $461,900 the first year. The second and third years saw sales rise to $484,735 the second year and to $508,000 the third.
- Provide an income for the founders by the end of the second year with income growth possibilities.
- By the end of the fifth-year, repay all debts from the original financing.
1.3 Keys to Success
Sarrica’’s Market is a success story.
- Reputation: Every customer who visits our store will return to us and recommend us to friends and family.
Word of mouth marketing is a powerful tool for our business.