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Liam Tayler Allyson Nash Lídia Mongay. Market Statistics The UK figure for people eating out of home (34%) By year 2025 50% of food consumption will be.

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Presentation on theme: "Liam Tayler Allyson Nash Lídia Mongay. Market Statistics The UK figure for people eating out of home (34%) By year 2025 50% of food consumption will be."— Presentation transcript:

1 Liam Tayler Allyson Nash Lídia Mongay

2 Market Statistics The UK figure for people eating out of home (34%) By year 2025 50% of food consumption will be out of the home Eating out is in the fourth place of UK customer spending after food, housing and cars Eating out is no longer just a treat or a luxury – it's a fact of modern life

3 Market segmentation Professional (286,600) Residential (5,200) Tourist (5,000) Other (5,000) Professional Segment Male and female Ages 25-55 (divisible into 2 main target groups) Young professionals Have attended college or graduate school Eat out at least once a week Yearly income between £25,000 and £100,000

4 Demographics

5 Needs Identified Possible Scenarios –For the Bar: –Scenario 1: Quick lunch/snack business drink with for discussion with colleague/client. –Scenario 2: After work drink with tapas (formal). –Scenario 3: Recreational drink with tapas (informal). –For the Restaurant: –Scenario 1: Working lunch/dinner with colleagues/client (formal). –Scenario 2: Recreational lunch/dinner (informal).

6 General Concept Unique Spanish environment where the local population of The City can relax and enjoy Spanish montaditos and culture. Spanish style montaditos bar with food lining the bar. Restaurant offering high quality Spanish food and tapas. The payment process for the bar is going to be based on the number of palillos the client has collected. We aim at excellence and exceeding the expectations of our customers.

7 SWOT Analysis Strengths Weaknesses OpportunitiesThreats New Concept Existing know how MBA experience Suppliers in Spain Limited budget to develop brand awareness New concept in the market Start-up Short term 'fashionable' foreign food trend UK people eating out will grow from 34 % 2002 to 50 % in 2025 Global trend of healthy and natural food High expenditure on drink and food Cultural differences in eating and drinking habits Fashion driven market Low entry barriers

8 Competition

9 Development Management Menu Price Quality Concept and Market AtmosphereLocation Service Food

10 Product & Price Product Spanish based drinks: –Wine, Beers, Coffee. Bar Food: –Tapas in a ' montaditos ' form although assorted traditional tapas will also be provided. Restaurant Food: –Delicious traditional Spanish cuisine (main meals, montaditos and tapas). Price The pricing policy finds a balance between the customer's perception of value and a reasonable contribution to profit. Cost-Based pricing: Competitive pricing Contribution based pricing

11 Place & Promotion Place – Defined by the availability of rentable spaces, in accordance with our target market. Promotional Objectives –Increase consumer awareness of the restaurant –Improve consumer perception of the restaurant –Entice 1st time buyers to try the restaurant Promotional Mix –External promotion magazines, emails, flyers, posters and tasters. –Internal promotion 'on the house meal'

12 Layout Total: 115 sqm Restaurant:44 sqm 36 seats 18 tables for 2 Kitchen:30 sqm Bar:42 sqm 10 m counter 10 stools 30 ps

13 Kitchen layout Kitchen Equipment Storage equipment Fabrication and preparation equipment Preparation and processing equipment Assembly, holding and serving equipment Cleaning and sanitation equipment

14 Process map

15 Critical processes Key processes Food preparation Order processing Service protocol Stock control Strategic processes Quality control Customer satisfaction Employee selection Raw material supply Scrap policy Support processes Training Communication Maintenance IT

16 Capacity-demand Capacity 2004 Weekday 760 montaditos 120 meals Saturdays 250 montaditos 80 meals

17 Human Resources 1 manager 1 chef1 head waiter 1 cleaner 2 kitchen hand 5 waiters4 bartenders 1 restaurant/bar hand Job categorySalary (£) Manager2.500 Chef2.000 Kitchen hand500 Head Waiter800 Waiter650 Bar tender650 Bar/restaurant hand450 Cleaner450 Total £13,050

18 Action plan

19 Financial Plan Total investment of £150,000: Shareholders equity: £ 30,000 Shareholders debt: £ 15,000 Working capital loan of £ 36,000 Fixed asset leasing £ 75,000 Recouped in 11 months ROA of 103% ROE of 131%

20 Sales Forecast Standard menu constructed using market research from different restaurants of the City (Spanish restaurants and Tapas Bars). 1 Optimal scenario. opening hours average spending average turnaround 2 Average spending was calculated simulating typical consumption patterns for each of the different opening hours 3 Optimal Scenario: 100% sales

21 Sensitivity Analysis

22 Growth Projections

23 Cost Structure Price Setting A 300% mark-up over variable and later cross checked with the competition pricing structure to adjust Montaditos prices competitively. 32% of the total costs are variable raw materials Fixed costs include: Labour Utilities, Rent, among others

24 Break Even Point Break Even Point: £ 30,000 a month

25 Balance Sheet The provisional balance for the end of the first year leaves the company 85% equity financed In a risk averse position Possibility of going into debt in the following years for expansion Provisional Balance as of Dec 2004


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