Tonight s agenda
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Tonight’s Agenda. Overview Marketing and Sales - Amber Long Development - Lindsay Strodl Operations - David Wein Financials - Jillian Doman. About Sweet Basil. Sweet Basil provides high quality Italian take-out meals Meals are fully prepared but not cooked

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Tonight s agenda

Tonight’s Agenda

  • Overview

  • Marketing and Sales - Amber Long

  • Development - Lindsay Strodl

  • Operations - David Wein

  • Financials - Jillian Doman


About sweet basil

About Sweet Basil

  • Sweet Basil provides high quality Italian take-out meals

  • Meals are fully prepared but not cooked

  • Meals provide fresh out-of-the-oven taste and quality with a minimum of effort

  • “The Sweet Basil Experience”


Marketing and sales overview

Marketing and Sales Overview

  • Home Meal Replacement Industry

  • Sweet Basil’s Target Market

  • Boulder Demographics

  • Potential Competitors

  • Marketing Strategy

  • Test Marketing Results

  • Promotion and Advertising


Home meal replacement industry

Home Meal Replacement Industry

  • “Home Meal Replacement means total meal solutions, the kind of wholesome, nutritious food people would cook for themselves if they only had the time”

    • Restaurant Business August 1, 1997

  • Fastest growing segment of food service industry

  • Projected sales for 1997 $80-$100 billion


Trends driving growth

Trends Driving Growth

  • Two trends

    • Consumer Time Poverty

    • Quest for a Nostalgic Dinner


Target market

Target Market

  • DINKS- Double Income No Kids

  • Families

  • Single Young People


Boulder demographics

Boulder Demographics

  • 63% of the Boulder population fits into one of our target markets


Competition

Competition

  • Specialty Stores

  • Supermarkets

  • Restaurants

  • Fast Food Restaurants

  • Compete on the basis of Quality and Convenience


Marketing strategy

Marketing Strategy

  • Build name recognition and equity

  • Obtain and maintain customer loyalty

  • Compete aggressively with other HMR alternatives

  • Utilize word of mouth advertising positively


Test marketing

Test Marketing

  • 50 Interviews

  • 75% interested in a Sweet Basil type store

  • 40% take out food on a weekly basis

  • Spend an average of $20 a week on take-out


Promotions and advertising

Promotions and Advertising

  • Test Marketing

  • Sampling

  • Newspapers

  • Donations

  • Flyers


Development overview

Development Overview

  • Overview

  • Schedule

  • Critical Areas of Development


Schedule

Schedule

  • Phase 1: Current Development (1 month)

  • Phase 2: Preparation (3 months)

  • Phase 3: Finalizing (1 month)

  • Phase 4: Opening and growth

  • Phase 5: Expansion


Phase 1 current development

Phase 1: Current Development

  • Secure location and lease

  • Obtain Boulder demographics

  • Survey potential customers

  • Develop marketing plan

  • Identify costs to open

  • Hire Attorney and Architect

  • Menu Development

  • File Articles of Incorporation


Phase 2 preparation

Phase 2: Preparation

  • Store remodeling and renovation

  • Identify and purchase equipment

  • Implement marketing plan

  • Identify and contract with suppliers


Phase 3 finalizing

Phase 3: Finalizing

  • Obtain permits and licenses

  • Finalize menu design

  • Install and test equipment

  • Building Inspection

  • Private opening

  • Public opening


Phase 4 opening and growth

Phase 4: Opening and Growth

  • Build customer base

  • Track and understand customer buying habits

  • Establish Sweet Basil as HMR alternative


Phase 5 expansion

Phase 5: Expansion

  • Delivery

  • Catering

  • Second Location


Critical areas of development

Critical Areas of Development

  • Facility and Lease

  • Permits and Licenses

  • Menu Development

  • Remodeling and Renovation

  • Equipment

  • Attorney Services

  • Insurance

  • Marketing Plan


Operations overview

Operations Overview

  • Management and Employees

  • Customer Service

  • Purchasing and Inventory

  • Point-of-Sale System


Management and employees

Management and Employees

  • Staff of six

    • four owner-managers

    • two additional employees

  • Training / Responsibility

    • four owner-managers share training and responsibility

    • two employees skilled beyond the register


Management and employees con t

Management and Employees (con’t)

  • Profit Sharing

    • two employees each receive 5% of operating income as an incentive

    • builds commitment to Sweet Basil

  • Dividends

    • four owner-operators each receive 22.5% of net income as a dividend

    • this leaves 10% for reinvestment in Sweet Basil


Customer service

Customer Service

  • Hours of Operation

    • 11:30 a.m. to 9:30 p.m.

    • 7 days a week

  • Full and Self Service

  • Actively seek customer feedback and input


Purchasing and inventory

Purchasing and Inventory

  • Just-In-Time system

  • Five basic categories

    • meats and poultry - 4 times / week

    • vegetables - 4 times / week

    • dairy - 3 times / week

    • non-perishables - once / month (as needed)

    • packaging - twice / month (as needed)


Point of sale system

Point-Of-Sale System

  • Integrates operations

  • Tracks sales, buying patterns, inventory

  • Greatly reduces paper work / bookkeeping

  • Components

    • two cash register systems

    • one kitchen system

    • one server in office


Financial overview

Financial Overview

  • Pre-Opening Expenses

  • Monthly Expenses

  • Month One Sales Projection and Growth

  • Projected Profitability

  • Projected Cash Flows

  • Monthly Breakeven Analysis


Pre opening expenses

Pre-Opening Expenses

  • Total pre-opening expenses= $49,348

  • Assets expensed when purchased

  • Total assets= $27,200

    • Kitchen Equipment and Supplies= $6,800

    • Office Equipment and POS system= $10,400

    • FOH Equipment and Outdoor sign= $10,000


Monthly expenses

Monthly Expenses

  • Owners’ Salaries$8,660

  • Assistants’ Salaries$2,598

  • Store Lease$3,844

  • Utilities$588

  • Office Supplies$100

  • Repairs and Maintenance$300

  • Miscellaneous$150

    Total Expenses$16,240


Month one sales projections

Month One Sales Projections

  • Estimated average ticket price $12

  • Expect 40 customers per day

  • Revenues = $14,148

  • Average Cost of Goods Sold = 34.4%

  • Cost of Goods Sold = $4,867

  • Gross Profit = $9,281

  • Average of $480 per day


Growth rates

Growth Rates

  • 50% in July - total sales = $21,222

  • 50% in August - total sales = $31,834

  • 7% in September - December

  • 10% Quarterly in 1999 & 2000

  • 10% Annually in 2001 & 2002

  • Over $1 million in sales at end of 2002


Five year net income projection

Five Year Net Income Projection


Year one cash flow projection

Year One Cash Flow Projection


Five year cash flow projection

Five Year Cash Flow Projection


Monthly breakeven analysis

Monthly Breakeven Analysis


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