Executive Summary Hot Chicks on the Beach is a business located in Bondi, Sydney that aims to sell high quality, gourmet chicken dishes in a clean, customer friendly environment. The company will hold high moral and ethical values toward the environment and its consumers. The sole trader, Cassie Jones, hopes to provide products that will benefit the businesses consumers, while remaining as an ecologically sustainable enterprise. Business Name The name of the business will be Hot Chicks on the Beach. This name was chosen as it is appropriate and memorable.
The pun used is effective as it includes the location and the produce of the business, while being humorous as it is a slang term used frequently in the area. The name also successfully gives an indication to the casual, relaxed environment of the cafe. Location Hot Chicks on the Beach will be located on a major road in Bondi, Sydney. The location of the business is very crucial in achieving the financial goals of the business, as the business would not be as successful if not in a ‘beachy’, casual area. Bondi was chosen as it is a popular destination for tourists, while maintaining a high population all year round. There are many surrounding hotels, and as Hot Chicks on the Beach is in close proximity to them this makes the caf’e convenient for the abundance of tourists.
Although there are a high density of other chicken shops in the area, Hot Chicks on the Beach is a fresh new face serving unique chicken dishes that differ from other chicken stores. The casual atmosphere of Bondi is ideal for a relaxed take-away caf’e with a small dine-in area, and as a popular Sydney beach, there is a guaranteed large number of potential customers. There are also sufficient parking facilities in the area, and a high number of varying shops to attract customers. Mission Statement To provide customers with high quality, low fat food and beverages in a clean environment with friendly, attentive service. Our prices are to remain competitive, while we maintain high morals and values.
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We aim to keep customer satisfaction at the core of our operations. Goals Financial Goals o To gain an additional 10% of market share within the first 18 months o To make a substantial profit o To repay 100% of the business loan within the first five years Social Goals o To manage an environmentally friendly caf’e o To practice good ethical and moral values o To have a safe and pleasant restaurant for the customers o To support the local economy o To provide hygienic and good quality foods o To have good employment relations Personal Goals o To gain recognition within the community o To have job satisfaction o To have a good relationship with customers and employees alike o To have control over the working environment SWOT Analysis Strengths o Fast, efficient and friendly service o A clean, pleasant environment o Tasty, unique chicken dishes o A wide variety in the chicken dishes we serve o Nutritious dishes which are rare in the take-away chicken industry o A convenient location o Unique in that although mainly take-away, the business provides gourmet dishes Weaknesses o Constricted in our dishes as we only stock chicken o Consumer trends flare with the seasons – winter will be less productive o Heavy competition who sell similar products o No reputation – our establishment phase is crucial in gaining a good reputation o A very small dine-in area, which may cause the company to lose business o Prices are high in comparison to surrounding ‘chicken and chip’s stores Opportunities o Expand our dishes to incorporate other meats o Open other stores in different locations o Open a larger restaurant section as an expansion of the current business o Provide a larger variety of chicken dishes o Upon expansion, to become licensed Threats o Difficulty in differentiating products o Surrounding stores as they propose competition o Health regulations proposed by the government o Public assumption that take-away food is unhealthy Situational Analysis The Target Market Hot Chicks on the Beach’s products shall be primarily directed towards families, tourists, and those concerned with good eating habits. As the food the company provides is convenient and competitively priced, families in the Bondi area will be a target group in our advertising campaign. Due to new-age opinions on healthy eating, the nutritional quality of the company’s products will be a crucial element in addressing the healthy minded. The specific target market for this group will be within 20-45 years of age, living within close proximity to Bondi, with a relaxed yet refined sense of living who has a medium to high income.
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Selling healthy dishes is also providing the company with a competitive advantage, as the surrounding chicken stores do not sell such a large variety of these foods. The casual atmosphere of Hot Chicks on the Beach is also an important part in addressing our other major target market – tourists. Hot Chicks on the Beach will be a ‘funky’ eye-catching store that will attract traveling customers. The company will pride itself on convenience and efficiency, which is often the criteria that is important for tourists. As Bondi is a popular destination for tourists, Hot Chicks on the Beach will be providing the tourists with dishes that can be eaten on the beach or back at one of the many surrounding hotels. Some of the dishes are also uniquely named with ‘Australian’ words to appeal to this target market.
There are also distinctly non-Australian dishes available if the tourist feels like a piece of home. Competition There are several chicken stores in the area of Bondi which provide a large and fierce competition. However, Hot Chicks on the Beach plan to target their foods to a different target market due to the unique qualities of their chicken dishes, gaining the highest possible market share. Hot Chicks on the Beach will gain a competitive advantage by providing healthy, nutritious foods which are rare in the take-away chicken industry, specifically in Bondi.
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This will draw in a large market of potential health-conscience customers. Also, by selling gourmet chicken dishes for take-away, Hot Chicks on the Beach are providing the many tourists and locals of Bondi with uniquely tasty food that they can eat right on the beach – which is within walking distance – unlike other take-away stores where the food is not as exciting. The Marketing Mix Product Hot Chicks on the Beach will sell gourmet chicken dishes that are nutritious and unique. These dishes are shown in Appendix One. The company will pride itself in only using fresh ingredients that meet with all Australian standards.
As the major produce of Hot Chicks on the Beach is the chicken, the company providing the meat will be La Ionica Poultry which is processed chemically free. All packaging for the take-away dishes will be environmentally friendly, and embossed with the company logo (see appendix two).
All the products are low in fat and high in essential ingredients, while remaining tasty and appealing. There is a family deal which consists of four dishes, and children’s meals of smaller size and lower price.
Hot Chicks on the Beach hopes to build a reputation based upon the sale and consumption of their products, and gain a competitive advantage over other chicken stores in the area from repeat sales due to the quality of the products. Promotion Promotion will the key factor to the success of Hot Chicks on the Beach. The business will be advertised in the yellow pages (see appendix three) and local newspapers (see appendix four).
Fliers will also be sent to homes in the surrounding areas as the business is takeaway, and most families would eat at home.
However, the major source of advertising will be in health and fitness centres. Due to recent and common concerns about the fat and carbohydrate content of many restaurant foods, Hot Chicks on the Beach will serve low fat, high fibre and protein dishes. This will appeal to potential customers who are dieting or simply health conscience. Fliers will be available in these centres that promote the nutritional value of the dishes served at Hot Chicks on the Beach. Photos will accompany food descriptions for visual appeal. Hot Chicks on the Beach hope to gain a reputation as a healthy, well-priced eating alternative.
The look of glee on people faces is the look that you might expect from a child on Christmas day. Why this look? They are on the most amazing place on earth truly it’s a gift from God Himself the “beach”. The beach is a quiet and peaceful place but at the same time it can be so noisy because the number of people that are on this beach is as if the new iphone 5 is being sold. You just have to allow ...
Price Price is most important to Hot Chicks on the Beach as they hope to provide competitively priced products in order to gain market share over the competition. Although Hot Chicks on the Beach’s dishes are more expensive than local ‘chicken and chip’s hops, the prices are very low in comparison to other gourmet chicken dishes sold in restaurants. All main meals are priced at $13. 50. This is due to the common belief that price is the first to be registered by the customer. If the customer sees that all dishes are priced the same, they immediately chose a dish that they find appealing, not that they find cheap.
Therefore, they enjoy the meal more as they picked it based on appeal, and are more likely to return. A family meal deal is available to appeal to families. With this alternative, the family can have a tasty, healthy and relatively inexpensive meal in a short time that they can have the comfort of eating at home. Grilled chicken strips and steamed chips are also available at a higher price than other stores charge for chicken and chips, but are much healthier and visually appealing. Place The products of Hot Chicks on the Beach will currently only be available at the location in Bondi, Sydney. The chicken will be delivered daily by La Ionica Poultry directly to the store, as will the other food stuffs.
The business owner hopes to expand to create other stores in locations around Sydney and Melbourne at a later date. The store itself will be decorated in a beachy tone with light colours such as blue, white and yellow. This will be an enhancement of the casual, relaxed atmosphere of the shop. Objectives Strategic Objectives o To produce and sell high quality foods o To gain the highest possible market share o To make a substantial profit o To ensure that the workplace is safe and pleasant for consumers and employees Tactical Objectives o To launch a new advertising campaign directed at tourists in Sydney Airport o To encourage good communication between consumers and employees o To lesson the amount of stock wasted o Improve quality control Operational Objectives o To reduce stock wastage by 3% o To reduce complaints by 75% o To increase return customers from 35% to 40% o To conduct four training sessions for employees on customer service To measure the success or failure of the objectives outlined above, the business will be closely monitored. Projected budgets will be made on frequent sales reports to evaluate exactly how well the business is doing financially.
Financial analysis is the mean to clarify most important factors that affected Costco performance and resulted in companies’ success. In order to reach that goal, we studied financial performance of Costco for 2008 to 2012. These data obtained from different sources such as Costco annual reports and other respectable financial sources. At some levels comparison between leading companies in the ...
Market share analysis reports will be conducted quarterly to compare the business’s sales performance to similar stores in surrounding areas. Profitability analysis’ will be implemented to evaluate the profitability of the products and to provide insight into the associated costs. Through various evaluation techniques, the business will gain the ability to compare their actual performance to their planned performance and decide on any necessary action if needed. Staffing Requirements Hot Chicks on the Beach will consist of five employees. Cassie Jones, as the sole trader, will act as manager. A chef will be hired to prepare dishes, and a full time kitchen aid will also be in employ.
Two part time employees will share the role of serving the customers, and an additional kitchen aide will be hired during the busier seasons. Position Description of Position Qualifications Manager o Rostering and scheduling o Employee relations o Stock Control o Supervision of other employees in their roles o Advertising o Business management degree o TAFE qualifications o Experience preferable Chef o Preparing all dishes will help of aide o Maintenance of cooking equipment o TAFE degree o Minimum 3 years experience in the hospitality industry Kitchen aide o Aide the chef in preparing meals o Maintenance of cooking equipment o Cleaning kitchen area o Prepares meals for take-away o Some experience required o TAFE qualifications preferable Part time employees o Serving customers o Handling of cash o Cleaning store o Handling of complaints o Shop presentation o Experience preferable In addition to the above qualifications, all employees are expected to fill the following criteria in relation to personal attributes: o Good customer relations o Pleasant, honest and friendly manner o Good organisational skills o Capability to work as a team member o Appropriate communication skills o Willingness to learn and teach others Contents Appendix One – Menu Appendix Two – Company Logo Appendix Three – Yellow Pages Advertisement Appendix Four – Advertisement for Local Papers Appendix Five – Projected Establishment Costs Appendix Six – Projected Cash Flow Statement Appendix Seven – Summarised Cash Flow Statement Appendix Eight – Profit and Loss Statement Appendix Nine – Break Even Analysis Appendix Ten – Balance Sheet Appendix One – Menu All Meals $13. 50 Lemon, Lime and Chilli Chicken Chicken Parmigiana Ocean Spray Lemon Chicken Apricot Chicken Chicken with Mushrooms and Creamy Sauce Chicken Satay with Peanut Sauce Outback Peppered Chicken Tropical Chicken with Bacon and Coconut Desert Chicken with Juniper Zesty orange and Lemon Chicken Cheesy Tarragon Chicken Chicken Kiev Leek and Pine Stuffed Chicken breast Chicken Piri-piri Chicken Creole Chicken and Coconut Curry Spiced Chicken with Peach Sauce Pasta ring with Pesto Chicken Avocado Chicken with Cheese Potato Chips Steamed potato slices Small – $2. 50 Medium – $3. 00 Large – $4.
Examples include: return on investment, internal rate of return, economic value added, return on information technology, and rapid economic justification. A TCO analysis includes total cost of acquisition and operating costs. A TCO analysis is used to gauge the viability of any capital investment. An enterprise may use it as a product/process comparison tool. It is also used by credit markets and ...
00 Grilled Chicken Strips Per strip – $2. 75 Three Strips – $7. 25 Five Strips – $11. 50 Salads Chicken Caesar Salad – $13. 50 Warm Chicken Greek Salad – $13. 50 Chicken and Avocado Salad – $13.
50 Garden Salad – $7. 50 Greek Salad – $7. 50 For the Kids – all $8. 50 All children’s meals come with the choice of either Steamed Chips or Garden Salad Chicken Burger Grilled Chicken Strips Cheesy Chicken Bites Chicken and Pasta Bake Family Meal -$35. 00 Your choice of two main meals plus two kid’s meals Beverages Mineral Water – $1.
90 Water – $1. 75 Juices – $1. 75 Milks – $1. 95 Iced Tea – $2. 30 Tea – $2.
30 Coffee – $2. 30 Appendix Two – Company Logo Appendix Three – Yellow Pages Advertisement Hot Chicks on the Beach Healthy gourmet take-away chicken dishes 101 Addison Road Bondi, Sydney Ph: (02) 92446778 Appendix Four – Advertisement for Local Newspapers Hot Chicks on the Beach Healthy take-away gourmet chicken cafe Located directly across from the beautiful Bondi Beach 101 Addison Road Bondi, Sydney (02) 92446778 Ring to order! Appendix Five – Projected Establishment Costs EXPENSE COST ($) Lease Deposit 5 000 Interior design 9 000 Initial stock 5 000 Advertising 3 000 Supplies 6 000 Equipment 11 000 Furniture 3 000 Exterior design 6 000 TOTAL ESTABLISHMENT COSTS 48 000 Financial Requirements Owners Equity $ 40 000 Business Loan $ 23 000 TOTAL $ 63 000 Appendix Six – Projected Cash Flow Statement INCOME October 2002 November 2002 December 2002 Total Net store sales 12 600 14 000 16 800 43 400 COGS 5 100 4 700 4 800 14 600 Gross profit 7 600 9 300 12 000 28 900 Gross profit 7 600 9 300 12 000 28 900 EXPENSES Advertising 1 000 700 800 2 500 Wages 9 600 9 600 10 800 30 000 Rent 3 100 3 100 3 100 9 300 Water/Electricity/Gas/Phone 175 175 180 530 Loan Payments 736 736 736 2208 Other 50 50 50 150 TOTAL EXPENSES 14 661 14 661 15 616 44 938 Net Operational Cash Flow (7 061) (5 361) (3 616) (16 038) Less Establishment Fees 48 000 Shareholder Capital 40 000 15 000 Borrowing 23 000 Cumulative Cash Flow 7 939 2 578 (1 038) (1 038) Appendix Seven – Summarised Cash Flow Statement Operational Activities $ $ Cash Inflows 28 900 Cash Outflows (44 938) (16 038) Financial Activities Cash Inflows 63 000 Cash Outflows 48 000 15 000 Net Increase/Decrease in Cash (1 038) Cash at Beginning of Oct ’02 0 Cash at End of Dec ’02 (1 038) Appendix Eight – Projected Profit and Loss Statement For period starting October 2002 and ending December 2002 $ $ Sales 43 400 Less Cost of Goods Sold 14 500 Gross Profit 28 900 Less expenses 44 938 Net Profit (16 038) Appendix Nine – Break Even Analysis Average sale amount – $12. 00 Quantity = Total fixed costs Unit Price-Variable – Costs Per Unit 44 938 $12. 00 – $6. 40 Approx. – 8 025 units Appendix Ten – Projected Balance Sheet ASSETS $ LIABILITIES $ Current Assets Cash (1 038) Stock 13 400 Non – current Assets Fixtures/Fittings/Furniture 25 202 Goodwill 9 398 Current Liabilities Accounts Payable 0 Bank Overdraft 0 Non – current Liabilities Business Loan 23 000 TOTAL ASSETS 46 962 Total Liabilities Owners Equity Capital 40 000 Retained Profit (16 038) Total Owners Equity 23 962 TOTAL L + OE 46 962.