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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 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 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. We aim to keep customer satisfaction at the core of our operations.
Goals
Financial Goals
• To gain an additional 10% of market share within the first 18 months
• To make a substantial profit
• To repay 100% of the business loan within the first five years
Social Goals
• To manage an environmentally friendly caf
• To practice good ethical and moral values
• To have a safe and pleasant restaurant for the customers
• To support the local economy
• To provide hygienic and good quality foods
• To have good employment relations
Personal Goals
• To gain recognition within the community
• To have job satisfaction
• To have a good relationship with customers and employees alike
• To have control over the working environment
SWOT Analysis
Strengths
• Fast, efficient and friendly service
• A clean, pleasant environment
• Tasty, unique chicken dishes
• A wide variety in the chicken dishes we serve
• Nutritious dishes which are rare in the take-away chicken industry
• A convenient location
• Unique in that although mainly take-away, the business provides gourmet dishes
Weaknesses
• Constricted in our dishes as we only stock chicken
• Consumer trends flare with the seasons winter will be less productive
• Heavy competition who sell similar products
• No reputation our establishment phase is crucial in gaining a good reputation
• A very small dine-in area, which may cause the company to lose business
• Prices are high in comparison to surrounding ‘chicken and chip' stores
Opportunities
• Expand our dishes to incorporate other meats
• Open other stores in different locations
• Open a larger restaurant section as an expansion of the current business
• Provide a larger variety of chicken dishes
• Upon expansion, to become licensed
Threats
• Difficulty in differentiating products
• Surrounding stores as they propose competition
• Health regulations proposed by the government
• 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 0-45 years of age, living within close proximity to Bondi, with a relaxed yet refined sense of living who has a medium to high income. 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. 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.
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' shops, the prices are very low in comparison to other gourmet chicken dishes sold in restaurants.
All main meals are priced at $1.50. 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
• To produce and sell high quality foods
• To gain the highest possible market share
• To make a substantial profit
• To ensure that the workplace is safe and pleasant for consumers and employees
Tactical Objectives
• To launch a new advertising campaign directed at tourists in Sydney Airport
• To encourage good communication between consumers and employees
• To lesson the amount of stock wasted
• Improve quality control
Operational Objectives
• To reduce stock wastage by %
• To reduce complaints by 75%
• To increase return customers from 5% to 40%
• 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.
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 • Rostering and scheduling
• Employee relations
• Stock Control
• Supervision of other employees in their roles
• Advertising • Business management degree
• TAFE qualifications
• Experience preferable
Chef • Preparing all dishes will help of aide
• Maintenance of cooking equipment • TAFE degree
• Minimum years experience in the hospitality industry
Kitchen aide • Aide the chef in preparing meals
• Maintenance of cooking equipment
• Cleaning kitchen area
• Prepares meals for take-away • Some experience required
• TAFE qualifications preferable
Part time employees • Serving customers
• Handling of cash
• Cleaning store
• Handling of complaints
• Shop presentation • Experience preferable
In addition to the above qualifications, all employees are expected to fill the following criteria in relation to personal attributes
• Good customer relations
• Pleasant, honest and friendly manner
• Good organisational skills
• Capability to work as a team member
• Appropriate communication skills
• 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 $1.50
Lemon, Lime and Chilli Chicken
Chicken Parmigana
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 - $.50
Medium - $.00
Large - $4.00
Grilled Chicken Strips
Per strip - $.75
Three Strips - $7.5
Five Strips - $11.50
Salads
Chicken Caesar Salad - $1.50
Warm Chicken Greek Salad - $1.50
Chicken and Avocado Salad - $1.50
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 -$5.00
Your choice of two main meals plus two kid's meals
Beverages
Mineral Water - $1.0
Water - $1.75
Juices - $1.75
Milks - $1.5
Iced Tea - $.0
Tea - $.0
Coffee - $.0
Appendix Two Company Logo
Appendix Three Yellow Pages Advertisement
Hot Chicks on the Beach
Healthy gourmet take-away chicken dishes
101 Addison Road Bondi, Sydney
Ph (0) 446778
Appendix Four Advertisement for Local Newspapers
Hot Chicks on the Beach
Healthy take-away gourmet chicken cafe
Located directly across from the beautiful Bondi Beach
101 Addison Road Bondi, Sydney
(0) 446778
Ring to order!
Appendix Five Projected Establishment Costs
EXPENSE COST ($)
Lease Deposit 5 000
Interior design 000
Initial stock 5 000
Advertising 000
Supplies 6 000
Equipment 11 000
Furniture 000
Exterior design 6 000
TOTAL ESTABLISHMENT COSTS 48 000
Financial Requirements
Owners Equity $ 40 000
Business Loan $ 000
TOTAL $ 6 000
Appendix Six - Projected Cash Flow Statement
INCOME October 00 November 00 December 00 Total
Net store sales 1 600 14 000 16 800 4 400
COGS 5 100 4 700 4 800 14 600
Gross profit 7 600 00 1 000 8 00
Gross profit 7 600 00 1 000 8 00
EXPENSES
Advertising 1 000 700 800 500
Wages 600 600 10 800 0 000
Rent 100 100 100 00
Water/Electricity/Gas/Phone 175 175 180 50
Loan Payments 76 76 76 08
Other 50 50 50 150
TOTAL EXPENSES 14 661 14 661 15 616 44 8
Net Operational Cash Flow
(7 061)
(5 61)
( 616)
(16 08)
Less Establishment Fees 48 000
Shareholder Capital 40 000 15 000
Borrowing 000
Cumulative Cash Flow 7 578 (1 08) (1 08)
Appendix Seven - Summarised Cash Flow Statement
Operational Activities $ $
Cash Inflows 8 00
Cash Outflows (44 8)
(16 08)
Financial Activities
Cash Inflows 6 000
Cash Outflows 48 000
15 000
Net Increase/Decrease in Cash (1 08)
Cash at Beginning of Oct '0 0
Cash at End of Dec '0 (1 08)
Appendix Eight Projected Profit and Loss Statement
For period starting October 00 and ending December 00
$ $
Sales 4 400
Less Cost of Goods Sold 14 500
Gross Profit 8 00
Less expenses 44 8
Net Profit (16 08)
Appendix Nine Break Even Analysis
Average sale amount - $1.00
Quantity =
Total fixed costs
Unit Price-Variable - Costs Per Unit
44 8
$1.00 - $6.40
Approx. - 8 05 units
Appendix Ten Projected Balance Sheet
ASSETS $ LIABILITIES $
Current Assets
Cash (1 08)
Stock 1 400
Non current Assets
Fixtures/Fittings/Furniture 5 0
Goodwill 8
Current Liabilities
Accounts Payable 0
Bank Overdraft 0
Non current Liabilities
Business Loan 000
TOTAL ASSETS 46 6
Total Liabilities
Owners Equity
Capital 40 000
Retained Profit (16 08)
Total Owners Equity 6
TOTAL L + OE 46 6
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