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Liam TaylerAllyson NashLídia Mongay
Market Statistics
• The UK figure for people eating out of home (34%)
• By year 2025 50% of food consumption will be out of the home
• Eating out is in the fourth place of UK customer spending after food, housing and cars
Eating out is no longer just a treat or a luxury – it's a fact of modern life
Market segmentation
Professional (286,600)Residential (5,200)Tourist (5,000)Other (5,000)
Professional Segment•Male and female•Ages 25-55 (divisible into 2 main target groups)•Young professionals•Have attended college or graduate school•Eat out at least once a week•Yearly income between £25,000 and £100,000
Demographics
Needs Identified
• Possible Scenarios
– For the Bar:– Scenario 1: Quick lunch/snack business drink with for
discussion with colleague/client.– Scenario 2: After work drink with tapas (formal).– Scenario 3: Recreational drink with tapas (informal).
– For the Restaurant:– Scenario 1: Working lunch/dinner with colleagues/client
(formal).– Scenario 2: Recreational lunch/dinner (informal).
General Concept
• Unique Spanish environment where the local population of The City can relax and enjoy Spanish montaditos and culture.
• Spanish style montaditos bar with food lining the bar.
• Restaurant offering high quality Spanish food and tapas.
• The payment process for the bar is going to be based on the number of ‘palillos’ the client has collected.
• We aim at excellence and exceeding the expectations of our customers.
SWOT Analysis
Strengths Weaknesses
Opportunities Threats
• New Concept• Existing know how• MBA experience• Suppliers in Spain
• Limited budget to develop brand awareness
• New concept in the market• Start-up• Short term 'fashionable'
foreign food trend
• UK people eating out will grow from 34 % 2002 to 50 % in 2025
• Global trend of healthy and natural food
• High expenditure on drink and food
• Cultural differences in eating and drinking habits
• Fashion driven market• Low entry barriers
Competition
Development
Management
Menu
Price
Quality
Concept and
Market
AtmosphereLocation
Service
Food
Product & PriceProduct
Spanish based drinks:– Wine, Beers, Coffee.
Bar Food:
– Tapas in a 'montaditos' form although assorted traditional tapas will also be provided.
Restaurant Food:– Delicious traditional Spanish cuisine (main meals,
montaditos and tapas).PriceThe pricing policy finds a balance between the customer's perception of value and a reasonable contribution to profit.
•Cost-Based pricing: •Competitive pricing•Contribution based pricing
Place & Promotion
• Place– Defined by the availability of rentable spaces, in
accordance with our target market.
• Promotional Objectives– Increase consumer awareness of the restaurant– Improve consumer perception of the restaurant– Entice 1st time buyers to try the restaurant
• Promotional Mix– External promotion
• magazines, emails, flyers, posters and tasters.– Internal promotion
• 'on the house meal'
Layout
Total: 115 sqm
Restaurant: 44 sqm36 seats18 tables for 2
Kitchen: 30 sqm
Bar: 42 sqm10 m counter10 stools30 ps
Kitchen layout
Kitchen Equipment
• Storage equipment
• Fabrication and preparation equipment
• Preparation and processing equipment
• Assembly, holding and serving equipment
• Cleaning and sanitation equipment
Process map
Critical processes
Key processesFood preparationOrder processingService protocol
Stock control
Strategic processesQuality control
Customer satisfactionEmployee selectionRaw material supply
Scrap policy
Support processesTraining
CommunicationMaintenance
IT
Capacity-demand
Capacity 2004
Weekday
• 760 montaditos • 120 meals
Saturdays
• 250 montaditos • 80 meals
Expected Capacity
-20%
20%
60%
100%
2004 2005 2006 2007 2008
Years%
sales increase Minimum Capacity
Maximum Capacity
Human Resources
1 manager
1 chef 1 head waiter 1 cleaner
2 kitchen hand 5 waiters 4 bartenders1 restaurant/bar
hand
Job category Salary (£)Manager 2.500Chef 2.000Kitchen hand 500Head Waiter 800Waiter 650Bar tender 650Bar/restaurant hand 450Cleaner 450
Total£13,050
Action plan
Financial Plan
Total investment of £150,000:
• Shareholders equity: £ 30,000
• Shareholders debt: £ 15,000
• Working capital loan of £ 36,000
• Fixed asset leasing £ 75,000
Recouped in 11 months
ROA of 103%
ROE of 131%
Sales ForecastProducts
Sales Price
Montaditos 1Starter 4.5Restaurant dish 1 8.3Restaurant dish 2 15.5wine (house wine) 5Beer 2.5Coffe 1.5
Standard menu constructed using market research from different restaurants of the City (Spanish restaurants and Tapas Bars).
1
Optimal scenario. •opening hours•average spending •average turnaround
2 Average spending was calculated simulating “typical” consumption patterns for each of the different opening hours
3
Optimal Scenario: 100% sales
Sensitivity AnalysisFirst Year Sales Forecast
020,00040,00060,00080,000
100,000120,000140,000160,000
Jan
ua
ry
Fe
bru
ary
Ma
rch
Ap
ril
Ma
y
Jun
e
July
Au
gu
st
Se
pte
mb
er
Oct
ob
er
No
vem
be
r
De
cem
be
r
Worst case Scenario Expected Scenario Best case Scenario
Growth Projections
2004 2005 2006 2007 2008Sales I ncrease 10% 8% 5% 5%Minimum 20% 30% 38% 43% 48%Maximum 52% 62% 70% 75% 80%
Sales Projections Next Five Years
-
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
2004 2005 2006 2007 2008
Cost Structure
Price Setting
•A 300% mark-up over variable and later cross checked with the competition pricing structure to adjust Montaditos prices competitively.
32% of the total costs are variable raw materials
Fixed costs include:• Labour• Utilities,• Rent, among others
Break Even Point
Break Even Point
0
20000
40000
60000
80000
100000
0 15000 30000 45000 60000 75000
Sales Fixed Variable Total cost
Break Even Point: £ 30,000 a month
Balance Sheet
16%
25% Liabilities
Current Assets
75% 85%
Fixed Assets Equity
The provisional balance for the end of the first year leaves the company
• 85% equity financed• In a risk averse position • Possibility of going into
debt in the following years for expansion
Provisional Balance as of Dec 2004
www.montaditos.co.uk