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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
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