Expand a One-Store to a Two-Store Operation
Introduction
MillenniumMart is the convenience store of the 21st Century future, fulfilling a need that will continue to exist into the future - the need for speed. MillenniumMart will be the first fully automated, 24 hour convenience store that is more like an enormous dispensing machine than the traditional store.
The company expects to capture market share by becoming the low cost leader in the convenience store industry by significantly reducing one of the primary expenses, which is labor. Through our completely automated shopping experience, customers will have the chance to shop for everyday items at reduced prices, thus undercutting competition such as 7-11, AmPm, Circle K, and other local convenience store chains. The possibilities for expansion are excellent not only in the local area, but in neighboring communities as well.
The Company
The company is a joint venture start-up company between the principals, Mr. Bean and his associates, and the management of Martin-Bower, one of the country's largest and most successful food distributors. The company will be incorporated as a class C corporation in the state of Delaware with all shares held by private investors.
Martin-Bower will own 29% of MillenniumMart's initial private shares with an option to acquire a further 11% shares based on growth and profitability after the first five years. MillenniumMart is expected to open its first store in downtown Manhattan in March of Year 1.
The company will be set up with a board of directors. Mr. James Bean, a former senior manager of Martin-Bower is slated for the position of CEO. Mrs. Linda Tuck has accepted the position of CFO.
The Products/Services
MillenniumMart will sell the same products as other convenience stores in the same packaging sizes, quality, and quantity as other stores. This includes newspapers, magazines, soft drinks, fruit juices, sport drinks, hot and cold snacks, a limited number of grocery items such as canned soups, microwaveable meals,
MillenniumMart is the convenience store of the 21st Century future, fulfilling a need that will continue to exist into the future - the need for speed. MillenniumMart will be the first fully automated, 24 hour convenience store that is more like an enormous dispensing machine than the traditional store.
The company expects to capture market share by becoming the low cost leader in the convenience store industry by significantly reducing one of the primary expenses, which is labor. Through our completely automated shopping experience, customers will have the chance to shop for everyday items at reduced prices, thus undercutting competition such as 7-11, AmPm, Circle K, and other local convenience store chains. The possibilities for expansion are excellent not only in the local area, but in neighboring communities as well.
The Company
The company is a joint venture start-up company between the principals, Mr. Bean and his associates, and the management of Martin-Bower, one of the country's largest and most successful food distributors. The company will be incorporated as a class C corporation in the state of Delaware with all shares held by private investors.
Martin-Bower will own 29% of MillenniumMart's initial private shares with an option to acquire a further 11% shares based on growth and profitability after the first five years. MillenniumMart is expected to open its first store in downtown Manhattan in March of Year 1.
The company will be set up with a board of directors. Mr. James Bean, a former senior manager of Martin-Bower is slated for the position of CEO. Mrs. Linda Tuck has accepted the position of CFO.
The Products/Services
MillenniumMart will sell the same products as other convenience stores in the same packaging sizes, quality, and quantity as other stores. This includes newspapers, magazines, soft drinks, fruit juices, sport drinks, hot and cold snacks, a limited number of grocery items such as canned soups, microwaveable meals,