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– Anne Marie Miller – Todd Conway – Scott Gavin – Mollie Toole – Mark Fisher
Mission Statement
“Spice Bar strives to provide uncompromised wellness, happiness and health for each individual customer, by using the highest quality ingredients and offering excellent customer service within a chic ambient atmosphere that exudes vitality and luxury.”
Fast Facts
Each day Americans spend an average of $109 million on dieting and diet related products
Restaurant sales grossed more than $500 billion in 2007
Spice Bar has the opportunity to capture some of the revenue in both the diet and restaurant industries through its unique market offering
Spice Bar Idea, Brand & Location
Spice Bar is a chic restaurant that caters to the needs of its upscale clientele by offering health-conscious menu items that taste great but still satisfy
The Spice Bar brand is young, energetic, health-conscious and trendy
Location 1: 313 Spring Street, NY, NY 10013
Team/Management
Anne Marie Miller: Manage Legal Matters, works closely with Daniel Miller, Esq.
Scott Gavin: Financial Manager Mollie Toole: Kitchen Manager Mark Fisher: Operations Manager Todd Conway: Advertising/Sales Manager Executive Chef: Ronald Reda, previous work
experience includes 5 years as the Kitchen Supervisor in the White House during the Clinton Administration
SWOT Analysis
Strengths: innovative approach to the health-food industry, understands its upscale target market well
Weakness: extremely high failure rate Opportunities: restaurant and diet industries
gross billions per year, Spice Bar can capture some of this revenue with creative and energetic marketing
Threats: SoHo is filled with well-known, established restaurants
Target Market
Primary: Women between 20-35 yrs old, live in SoHo, upper to upper middle class, care about physical appearance and health, enjoys life and the social scene
Secondary: Women between 20-35 yrs old, live in NYC, upper to middle class, exercise regularly
Tertiary: Women, live in Tri-state, 18+ years old, will splurge for special occasions
Market Strategy- Pricing
Appetizers: $12-$25 Entrees: $25-$45 Dessert: $8-$15 Cocktails/Shakes: $6-$15 Prices determined by:
cost of ingredients Spice Bar’s intended brand image Executive Chef’s estimation of the customer’s value-
perception minimum 65% mark-up on fair market value price
Market Strategy- Promotion
Restaurant Opening- sponsored by Viridian Spirits, LLC
Host Charity Events Promote Chef Ronald Reda Live Music DJ Serge Devant Press
Market Strategy- Place
Phase 1: 313 Spring Street, NY, NY 10013 Phase 2: one location in the Upper East Side
of Manhattan, one location in the Williamsburg area of Brooklyn
Phase 3: expand nationally and internationally in major cities such as Paris, London, Miami and Las Vegas
Market Offering
Executive Chef Ronald Reda is currently developing the menu items to reflect Spice Bar’s mission and goals.
Menu items will be similar to the following:
Menu Item Samples-Appetizer
Garden Lasagna
Fruit Sushi
Menu Item Samples-Salad
Compressed Summer Berry Salad
Tropical Salad with Raspberry Poppy Seed Dressing
Menu Item Samples- Entree
Beetroot Ravioli
Carrot and Parsnip Fettucine
Menu Item Samples- Dessert
Cacao Pistachio Florentine & Mint Ice Cream Sandwich
Maine Blueberry Flan
Menu Item Samples- Shakes
Wild Blueberry and Hemp Shake
Grapefruit Mint Spritzer
Menu Item Samples- Cocktails
Mojo-jito
Pomegranate Infused Vodka Spritzer
Menu Item Samples- Beer & Wine
Organic Mulled Wine
African Ginger Beer
Website Prototype
Websites are an extremely important marketing tool for any new business
Spice Bar has teamed up with 7 Strategy, a top website development company, to create its website
The following prototype has been estimated by a 7 Strategy web developer to cost approximately $20,000-$25,000 to create
Website Prototype Screen 1
[ENTER]
Screen 1 shows the Spice Bar door
When the mouse scrolls over the door the word “Enter” appears
When the word “Enter” is clicked, it brings the web visitor to Screen 2
[ENTER]
Website Prototype- Screen 2 Screen 2 shows the interior
of Spice Bar When the mouse scrolls
over a table, the word [ABOUT] will pop up
When the mouse scrolls over the reception table the word [RESERVATIONS] will pop up
When the mouse scrolls over a waiter the word [MENU] will pop up
When the mouse scrolls over a patron the word [HOURS & DIRECTIONS] will pop up
Website Prototype- Screen 3
Screen 3 will include a Jobs link (Screen 3a), Press link (Screen 3b), and Bios link (Screen 3c)
Screen 3(a): Jobs Please contact Mollie Toole to schedule an interview
or inquire about job opportunities at ________ Screen 3(b): Press
Will include all press and PR for Spice Bar Screen 3(c): Bios
Will include Bios for all Founders of Spice Bar
Website Prototype- Screen 4
SCREEN 4: RESERVATIONS Reservations can be booked up to 30 days in
advance. For reservations at Spice Bar, please call 212-123-4567. Spice Bar VIP rooms are available to host group events to accommodate up to 50 guests. To book the entire restaurant please contact _______ at 212-234-5678.
Website Prototype- Screen 5
Screen 5: MENU Will show menu items and prices
Website Prototype- Screen 6
Screen 6: HOURS & DIRECTIONS Hours:
Spice Bar is open from 10am to 12am on Sunday through Thursday and 10am to 1am Fridays and Saturday
Directions: 313 Spring Street, New York, NY 10013 Shows a picture of the restaurant (represented
as a star) on a map of SoHo
Milestones
Milestone 1: Get funding from an Angel Investor for start-up costs
Milestone 2: Within 8 months of opening- break-even bring in enough revenue to cover costs, no profits yet
Milestone 3: Within 2 years of opening- profitable. bring in enough revenue to cover expenses as well as
pay off debts Milestone 4: By 2012- save enough capital to invest
in opening 2 additional restaurants (Phase 2 of expansion). Spice Bar LLC will create a new business plan for each
individual location (Upper East Side and Williamsburg) and set appropriate milestones for the establishments
Focus Group: Survey SURVEY Circle one for each (Optional): Annual Income: $500K+ $250K+ $100K+ $75K+
$50K+ $25K+ less than $25K Gender: Male Female Ethnicity: Asian Caucasian African-American Hispanic Other What is the most important thing you consider when choosing a restaurant to eat in? Rank the following items in order of importance (1 being most
important, 5 being least important). ____Cost ____Chef ____Entertainment (live music, etc.) ___ Food Type (Italian, French, Organic, etc.) ___ Food Quality ___ Food Quantity (portion size) ___Special needs (Vegan, Kosher, etc.) How often do you exercise? (Circle one) Everyday 3 or more times/week 1/week 1/month
Never Rank the following items, 1 being the most important to you and 5 being the least. ___ Family ____ Career ____ Health ____Money ____Friends How much would you be willing to pay for a great tasting meal that you knew was healthy and low in calories? (Circle the maximum amount you are
willing to pay) $10 $20 $30 $50
$100 $350 How much would you be willing to pay for a high-end meal (not including alcohol)? (Circle the maximum amount you are willing to pay) $10 $20 $30 $50
$100 $350 Would you find it helpful if menus gave nutritional information like calorie content? (Circle one) Yes No Which 2 calorie-based portion options would you want to see at a restaurant (circle one from each row): Row A: 300 350 400 450 500 (in calories) Row B: 500 550 600 650 700 (in calories)
Market Research: Survey Results
After surveying more than 100 people selected at random, the following answers came up the majority of the time
1. Annual Income: $75K+ 2. Ranking Importance: Food Type, Food Quality,
Cost, Food Quantity, Entertainment 3. Exercise Frequency: 1/week 4. Ranking Importance: Health, Money, Family,
Friends, Career Cost Max: $50 Calorie Count: Yes Portion Size: 300 and 550
Discussion: Q & A
Please feel free to ask any questions