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1 Eva’s Edibles Eva Tan Age: 20 E E. 2 Mission Statement Describe the Opportunity Busy lifestyles Increase in health consciousness Desire for quick and.

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Presentation on theme: "1 Eva’s Edibles Eva Tan Age: 20 E E. 2 Mission Statement Describe the Opportunity Busy lifestyles Increase in health consciousness Desire for quick and."— Presentation transcript:

1 1 Eva’s Edibles Eva Tan Age: 20 E E

2 2 Mission Statement Describe the Opportunity Busy lifestyles Increase in health consciousness Desire for quick and nutritious dinner Mission Statement Eva’s Edibles is a personal chef service and will provide busy professionals with healthy and delicious dinners that are based on their preferences and prepared in their own kitchen

3 3 Business Profile Type of Business Service Business Benefits: Less time shopping, cooking, cleaning up Eat dinner whenever at home Delicious, healthy dinners Less Expensive Legal Structure Limited Liability Company (LLC)  Protect Personal Assets and tax benefits

4 4 Qualifications I am qualified to run this business because:    Associates Degree-Business Management Assistant Director-Campus Dining Services at OSU Certified Personal Chef (CPC)

5 5 Market Analysis Industry NamePersonal Chef Industry/Special Food Services Industry Size$31,130,659,000 25% of Target Market purchase food outside four times/week. Willing to purchase Eva’s Edibles healthy meals. Men and Women In Business or Medical field Average Household Income: $50,000 Columbus, Ohio households with two or more people Potential Market Size Target Market Total Population 301, , ,760

6 6 Consumer Profile By Location  Greater Columbus, Ohio area By Population  Professionals primarily in growing business and medical areas By Personality  Hard working Busy professionals that like to spend free time with friends. Like to exercise and stay active and eat healthy. By Behavior  Eat out often (4 times a week), spends on friends and family outings. Brand conscious and loyal customers By Income  Household Income of $50,000 or more. Educated consumers that do research on any large purchases.

7 7 Competitive Advantage Your Business At home Chef Franchise Restaurant Factors Very Good Healthy Quality of Product//Service Price Location Brand/Reputation Unique Knowledge Not good– service/ not healthy Custom meals—Very good $300-$500 $50-70 $325 Knows clientele Fast turn around, franchise model Certified USPCA/local suppliers Columbus Well Established Well known but not good New to market

8 8 Marketing Mix Marketing Plan People: Who will buy your product/ service? Promotion: How will you promote your product/ service? Product: What is your product/ service? Place: Where will you sell your product/service? Price: What is your product/ service price? $325 meal plan— Competitive but more affordable Busy people who value free time and good, home cooked food Website, referral listings, in-store and local event sampling Columbus, OH area in customer homes Personal Chef that purchases groceries, cooks in house and cleans up

9 9 Marketing Plan PurchaseRetention Free samples, gift baskets, discounts at local events (e.g. Earth Day, fairs, malls) Company Website Listing on Brochures at local stores Presentation at Wire Whisk Free snacks and desserts after purchasing 3 meal plans Long Term ( 6 months-1 year) Current & Short Term (1 month -6 months) Awareness Referrals from customersAdditional discounts and coupons in local papers. Offer 10% discount for new client referrals $50.00 $45.83 Monthly cost, by phase: Awareness PurchaseRetention

10 10 Cost of Materials/Direct Labor Definition of One Unit Cost of Sales Per Unit Direct Labor (Labor Cost per Hour) (A) Time (in hours) to make 1 unit (B) Direct Labor Cost Per Unit (A)*(B) $ hours$ Total Direct Labor Per Unit$ Material DescriptionCost/Total QuantityCost Per Unit ($) GroceriesLocal market/custom$100 Total Material Cost Per Unit$100 Total Other Variable Costs Per Unit (Gas)$4 Cost of Sales Per Unit (labor +material+vc) $254.00

11 11 Economics of 1 Unit Definition of One Unit 5-dinner plan (1 day of cooking) Selling Price per Unit $ 325 Direct Labor per Unit $ 150 Materials per Unit $ 100 Total COGS per Unit $ 250 Total Other Variable Costs per Unit (Gas) $ 4 Total Cost of Sales $ 254 Contribution Margin $ 71

12 12 Average Monthly Fixed Costs 10 th Edition-Chapter 9/11 th Edition-Chapter 10 Type of Fixed CostMonthly Cost Insurance $ Advertising $ Depreciation $16.67 Utilities $100 Auto Maintenance $24.33 Other Fixed Costs (Cooking Supplies $83.33 Total Monthly Fixed Costs $486.83

13 13 Time Management Plan Business Schedule for a Typical Week

14 14 Monthly Sales Projections Total Units Full Capacity Break-Even Units days 22 days

15 15 Projected Yearly Income Statement Selling Price Per Unit$ 325 # of Units Sold 252 Total Sales$ 81,900 Total COGS$ 63,000 Other Variable Costs$ 1008 Total Variable Costs$ 64,008 Gross Profit$ 17,892 Yearly Fixed Costs$ 5,842 Other Costs/Unforeseen$ 0 Total Fixed Costs$ 5,842 Profit before Taxes$ 12,050 Less Estimated 1,808 Net Profit$ 10,242

16 16 ItemWhere I will buy this?Cost of Item Cooking ToolsThe Wire Whisk$ 2500 Marketing Materials/website Kinkos and Online Vendors $ CASH RESERVE covering 3 months of fixed expenses$ Estimated TOTAL START-UP INVESTMENT $ 5,000 Start-up Investment 50 hours$500 $100/hour x=

17 17 Return …on Sales …on Investment % Annual Net Profit Start-Up Inv. $10242 $5000 = $2.04 (dollar equivalent) 12.51% Annual Net Profit Total Sales $10242 $81900 = $0.13 (dollar equivalent)

18 18 Financing Strategy for Total Start-up Investment SourceAmountDebtEquityGift Eva’s Personal Savings $5000 X Totals: $ 5000

19 19 Business Responsibility Plan Philanthropic Strategy Plan Use locally grown ingredients Use “green” practices: Paper, Storage materials Provide internships for culinary students in the community, Eva will volunteer at local elementary schools to speak about health eating options Contribute 1% of yearly net profit to local food bank after three years of operation

20 20 Business & Educational Goals Build a strong customer base year 1 to ensure returning customers Strengthen relationship with local grocers and farmers to reduce costs and better produce USPCA course on growing personal chef business Learn from colleagues from USPCA Business Personal Increase market penetration by leasing/buying commercial kitchen Deliver meals to customers Short Term Long Term May sell the business or franchise Develop skills as a personal chef to potentially start a healthy food restaurant.

21 21 Eat healthy, Eat happy Thank you for your consideration of Eva’s Edibles

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