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Fresh leaves businessplan_final

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SERVICES & ENTREPRISE
Charlotte Terrien & Molly Werner
Pr. Xenia Viladas, Fall 2014
Fresh Leaves
Business Plan
Table of Contents
EXECUTIVE SUMMARY 								 1
BUSINESS DESCRIPTION										
	Service Package											2
	Strategic Inte...
1
Executive Summary
PROBLEM:
Today, college students who are always on the run, in between classes and projects to deliver...
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  1. 1. SERVICES & ENTREPRISE Charlotte Terrien & Molly Werner Pr. Xenia Viladas, Fall 2014 Fresh Leaves Business Plan
  2. 2. Table of Contents EXECUTIVE SUMMARY 1 BUSINESS DESCRIPTION Service Package 2 Strategic Intent 3 BUSINESS ENVIRONMENT Grocery Store 4 Fast Casual 5 SWOT Analyisis 6 Doblin’s Innovation Model 7 MARKETING PLAN Positioning 8 Market Segmentation 9 Target Personas 10-11 Marketing Mix (+ Tools) 12 Sales objectives for years 1-3 13 OPERATIONS PLAN Resources, Human Resources and Suppliers 14 MANAGEMENT TEAM Job Description and Organization 15 Professional and Personal Profiles 16 FINANCIAL PLAN Estimated Costs, Fixed and Variable Costs, Income Statement, Balance Sheet, Return on Investment 17 Break-even Analysis 18 IMPLEMENTATION ROADMAP Milestones and Scenarios 19 APPENDICES Appendix A : Business Model Canvas - Fresh Leaves 21 Appendix B : Business Model Canvas - Grocery Store Overview 22 Appendix C : Business Model Canvas - Fast Casual Overview 23 Appendix D : App MockUp 24 Appendix E : Blueprint - Fresh Leaves 25 Appendix F : Cash-Flow Analysis / Income Statement 26- 28 Appendix G : Balance Sheet 29 Appendix H : Break-even Graph 30 Appendix I : Sources 31
  3. 3. 1 Executive Summary PROBLEM: Today, college students who are always on the run, in between classes and projects to deliver, struggle to eat consistently healthy. Most students are either lazy to cook or do not have time to cook a well balanced meal. They end- up eating out a lot, which limits healthy, quick options. SOLUTION: To address this issue, we are introducing Fresh Leaves: a service for college communities to have healthy and organic food that is easily accessible. We are using a food truck to go from one school building to another and sell ready-to-eat, delicious and healthy meals as well as End of the Day Goodies, which will stem from previously prepared leftovers from the day that we do not intend to use in the future. To help lead our consumers’ minds into a healthier lifestyle, we are also introducing a virtual nutrition coaching program, through the app. TARGET MARKET: We focus on students. The truck serves food at specific break hours (ie. SCAD buildings: 10.30-11am, 1.30-2pm, 4.30- 5pm). Promotion is through social media and word-of-mouth mostly but flyers will be distributed in the school’s buildings at the beginning. Prices are based at the highest point students are willing to pay. Finally, the food is made practical and easy to eat so students can finish their meals in a classroom environment. COMPETITION: Today, when students need food in between classes, they generally end-up going to fast casual restaurants or grocery stores that offer healthier options. We have studied these sectors and identified our opportunities to build an innovative and succesful model. TEAM: We, Molly and Charlotte, the founders, are starting the business on our own. We are both foodies, who like cooking and learning about healthy options. We have worked together in the past and became friends over time so we know eachother’s professional and personal habits. On top of having the same goals for this business, we enjoy spending time together and are excited to see the project come to life. FINANCIAL SUMMARY: Initial funds are from friends, family, a Kickstarter project and a $75,000 bank loan. Working capital comes from selling our meals and virtual nutrition coaching for consumers. Costs include buying and maintaining the truck, gas over time, additional utilities needed to cook in Charlotte and Molly’s kitchen, buying a fridge for food storage, buying groceries every week, initial cooking supplies and employee salaries. The $75,000 loan from the bank (with 7% interest rate) is needed in order to reach our breakeven point by the last month of our second year in business. MILESTONES: • Become the most desirable choice for ready-to-eat, on-the-go food for students at SCAD within a year of business • During the second year of business, build a vending machine to sell meals and snacks in most popular building. • During the third year of business, rent kitchen space outside of home, dedicated to the business. • Once break-even point is reached, expand business to another college in Savannah : Armstrong Atlantic. • Once 100K revenue is reached within the 150-mile radius, roadtrip through the US, following social media call-outs by students wanting us to come to their campus. • Increase Virtual Nutritionist Program of 10% participants each year
  4. 4. 2 Business Description Core Service: Facilitating Services: Enhancing Services: Service Package The following model maps out our service from its core offering (healthy, organic food that is easily accessible) through what enables the system to work (the truck, the app, employees etc.) to what makes it unique from competitors (sustain- able packaging, menu decicied by users etc.) • Ready-to-eat meals delivered to SCAD buildings by truck. All food is healthy and organic. • App • Employees • Delivery method (truck) • Inventory • Location to park truck (on work site and at home) • Kitchen in truck • Food • Location • Sustainable packaging • End of the Day Goodies • Virtual Nutritionist • Samples • Social - see what friends are buying • Practical (smell, messy, temperature, portion) • Order/pay through app • Discount for people who put recipes on app • Menu decided thanks to community involvement Gronroos, Christian. Service Management and Marketing: Customer Management in Service Competition. Wiley-Blackwell, 2007. Print.
  5. 5. 3 Business Description Strategic Intent MISSION STATEMENT Service for college communities to have healthy and organic food that is easily accessible. VALUES • Premium quality of local products • Energizing and tasty food to satisfy customers • Fitting needs of customers (diet restrictions, schedules...) • Easy accessibility to products and practical meals with propper portions • Knowledgeable employees • Sustainable lifestyle • Exceptional customer service VISION Lead students to a healthier lifestyle, helping them towards a more sustainable behavior. OBJECTIVES • Obtain a loyal customer base after two months of starting the service • Adapting our service offering based on the wants and needs of the customer • Consistent positive reviews and feedback for food and customer service Once we decided on the service package, we established the strategic intent to have guides for the project. The Business Model Canvas can be found in Appendix A. It helped us map out in detail the different parts of our service and how they relate. This model consists of: Key Partners, Key Activities, Key Resources, Value Proposition, Customer Relationships, Customer Segments, Cost Structure and Revenue Stream. All of these terms define every aspect of the business including who is involved, what is involved, what the business is about, and how the business makes money. The Business Model Canvas we generated for Fresh Leaves combines factors from two different branches within the food sector: supermarket and fast casual dining. As they are both potential competitors, we researched them and created the Fresh Leaves business model from opportunities recognized through these competitors.
  6. 6. 4 Business Environment Grocery store • Providing Groceries • Store • Customer Service • Employment (HR) • Website Core Service: Facilitating Services: Enhancing Services: • Pharmacy • In-store restaurant • Mobile Recipe APP • Deli • Bakery • In store samples • Beauty Care • Other services ex. Cooking School (Publix) • Household Products Price Quality Customer Service Organization Cleanliness Deals Local Low High Fresh Leaves Whole Foods Publix As our initial thought was to create a health conscious yet rapid food service, we started to research supermarkets as people who are health conscious tend to shop in grocery stores and cook their own meals rather than eating out. The service package below shows an overview of the service offered by supermarkets. We also developed a Business Model Canvas for this industry, which can be found in Appendix B. We then took a deeper look into the industry by analyzing major players and potential competition such as Whole Foods and Publix. Whole foods sells local and organic products at a high price point. Publix on the other hand, sells a wide variety of lower priced groceries and prides itself in having a friendly, helpful and clean environment. Through researching these brands, we identified that Fresh Leaves has similar results in quality, customer service, cleanliness and local factors. Consequently we took another approach to the food industry and analyzed popular fast casual options (see next page). Variety Gronroos, Christian. Service Management and Marketing: Customer Management in Service Competition. Wiley-Blackwell, 2007. Print. Kim, W. Chan, and Rene Mauborgne. Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Boston, Mass.: Harvard Business School, 2005. Print.
  7. 7. 5 Business Environment Fast Casual Core Service: Facilitating Services: Enhancing Services: • On-the-go, freshly made meals that bring together unique and delicious flavors. • Order area • Seating area • Cooks • Meal preparerers • Cashier • Website (+ online store) • Quality of homecooked yet fast service • Good balance: Price vs Quality • Location: often close enough • Able to order for pick-up • Able to deliver to customer • Food preferences usually put into consideration (or available options) • Hours: usually open later to accomodate students needs Price Quality Customer Service Eco Friendly Cleanliness Practical Local Low High Variety Fresh Leaves Brighter Day Chipotle To understand another market within the food industry that we could enter, we did a service package of the general fast and casual food experience. We then mapped out the strategy canvas comparing Fresh Leaves to two popular choices students buy from: Chipotle and Brighter Day. We also developed a Business Model Canvas that can be found in the Appendix C. Below, the strategy canvas shows that there are more opportunities than when comparing our service to grocery stores. We consequently decided to focus on deliverying ready-to-eat meals and adding small grocery amounts (End of the Day Goodies) as an enhanced offering. The healthiest and most closely related one to our Fresh Leaves concept in Savannah, is Brighter Day as they serve local, organic and healthy groceries as well as ready-to-eat options during midday. However, we have the advantage of going to students instead of being a stable location where students need to go to. Chipotle is less of a competitor, as they offer quick Mexican food without the extra grocery option. Gronroos, Christian. Service Management and Marketing: Customer Management in Service Competition. Wiley-Blackwell, 2007. Print. Kim, W. Chan, and Rene Mauborgne. Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Boston, Mass.: Harvard Business School, 2005. Print.
  8. 8. 6 Business Environment SWOT After researching the food sector and understanding what our competitors stand for, we did a SWOT analysis of both the grocery store experience and the fast casual experience. This SWOT analyis shows ways in which companies (possibly ours) can innovate to beat the competition. Below, tables are color-coded into either the grocery store experience (dark green) or the fast casual experience (light green). STRENGTHS Which Means: Actions Needed: Variety of choices Multiple service offerrings Efficient shopping for customers Always maintain variety Keep up with new products Low Price More meals for the price you pay Advertising awareness, making sure prices are satisfying to the customer in relation to quantity Meals prepared for customers on-the-go Food is fresh Insure quality & freshness of products offered Knowing what the customer wants Provide different areas for personalized experiences Variety of atmosphere Providing more than groceries OPPORTUNITIES Which Means: Actions Needed: Provide a more enjoyable experience Evaluate customer’s needs/wants when shopping and create new spaces for these Providing a tailored variety of meal options Understanding users’ tastes and food restrictions Provide Gluten-Free, Dairy-Free, Vegan. Calorie count etc. Responding to health trends Help people have a healthier lifestyle. Cooking with healthy ingredients Customer needs form of transportation Better location and/or delivery options Consumer has to cook/prepare food Effort and time are necessary WEAKNESSES Which Means: Actions Needed: Accessibility / Location Provide ready-to-eat solutions Waiting time for food preparation / payment Customer is bored and wasting time Provide consumers digital meal selection and payment before they pick up / distract during waiting time Consumer unsure of ingredients in food Consumers do not know if what they eat is healthy or not Be transparent with ingredients used and calories / portions Grocery Stores Fast Casual
  9. 9. 7 Loss of consumers Provide better accessibility and products Consumers look & rely on technology to maximize every moment THREATS Which Means: Actions Needed: Competition: Restaurants/ Convenience Stores Consumers realize eating out is more expensive than cooking and don’t want to spend the money They do less and less on their own (ie. cook less) Promote benefits of cooked meals rather than restaurant dining / fast food. Loss of consumers Ensure prices are within consumer’s abilities on the long term Consumers get bored of menu Loss of consumers Offer variety of products or change menu / surprise consumers regularly Humphrey, Albert. “SWOT Analysis for Management Consulting.” SRI Alumni Newsletter (2005). Print. “Ten Types of Innovation: The Discipline of Building Breakthroughs.” Doblin. Web. 11 Nov. 2014. Thanks to the SWOT analysis, we developed a few ideas to incorporate in our service. These include: quality and freshness of food, delivery services, providing a digital tool for a more efficient service, adapting to users’ tastes and dietary restrictions, surprising consumers with new offerings etc. Following the SWOT analysis, we dug more into trends and possible innovations. We used Doblin’s Ten Types of Innovation model to categorize innovations. Below are some that helped us shape Fresh Leaves. Network Grocery stores are looking to satisfy their client’s new cravings by connecting with local, organic brands that sell products with no GMO or artificial products, collaborating with chefs and cooks to provide an in-store on the spot eating experience. Structure Grocery stores care about an efficient customer service and have invested in new technologies to do so — self checkout systems, scan through iPhone… People are also looking for an experience in the store (can spend 5h in Whole Foods without grocery shopping). Product Performance Toprovidethehighestquality of products, supermarkets invest time and research to find the right partnerships. People are more conscious about eating healthy food with no GMOs. They also want a variety of products. Additionaly, stores are helping people to save with constant deals (ex buy 3 for 5$). Product System Satisfying customers with ready-to-eat solutions (WF: in store restaurant, Publix: deli bar and bakery etc.) Channel To help with transparency of information, websites and apps for grocery stores provide nutritional information (people interested in knowing what they ingest) and giving them ideas of how to use their products with featured recipes that can be personalized to special diets (again, people have become more self- conscious about what they eat). Most stores have apps to help with branding, awareness of products (teach- ing them what is inside and how to cook product), and provide digital coupons. Customer Engagement Since customers want to be as efficient as possible, employees need to be knowledgable about each and every product, where it is in the store and what ingredients it contains. Employees are also generally friendly and constantly asking how they can help customers. Profit Model Shift in human behavior has geared the food industry towards advertising nutrititional information on packaging, and highlighting specifics such as GF, Organic, Vegan, etc. CONFIGURATION OFFERING EXPERIENCE Doblin - Types of Innovation
  10. 10. 8 Marketing Plan Positioning From understanding the business environment in which our business stands, we developed positioning maps with factors such as quality versus price, brand awareness versus how much the service cares for the community, and customer service versus type of environment. Invisible Brand Awareness of Brand Self Caring Community Caring Amazing Customer Service Bad Customer Service Natural Environment Man-Made/ Chemical Environment Low Quality High Quality Low Price High Price Our competitors within the positioning maps are from each type of sector we studied. Publix and Whole foods from the grocery sector; Chipotle and Brighter Day from the fast, casual dining we studied. Our service is positioned with high awareness of the brand because we will strive to be well known and highly demanded. Fresh Leaves is fully conscious of the environment, being placed as extreme community caring and highest among its competitors. The food truck is also placed higher with some competitors in relation to how natural the environment will be. Within that same map, Fresh Leaves will demonstrate exceptional customer service, with the idea of developing personal relationships with its target market. Fresh Leaves will have medium range prices, with consideration of the target market being college students. The quality of the food will be very high since that is part of the business’ values. Key:
  11. 11. 9 Marketing Plan Market Segmentation • Target market: college students. • Average age: 17 - 22 years old for undergraduates; 25 - 40 years old for graduate students. • Budget: Low; education is expensive and they do not have time for a full time job. Some students manage a part- time job but these are often the most financially in need and the money they earn usually goes back towards their education. Habits: • Students we are targeting are always on the run and want to get food in the most efficient way possible. If they have a back-to-back class at SCAD, they only have 30 minutes to find, pay and eat their food. Even if most people eat within 20 minutes, these 30 minutes become rushed when involving other factors such as going to the locaiton selling food, getting in line to pay, waiting for the food to be cooked etc. • Most people in higher education are somewhat aware of health trends and even though they may not care about eating healthy, milleniums unconsciously follow trends and will eat dairy free for example, not because of any intolerance but because their friends are having it, and it is not harmful to their bodies in any way. From this target segmentation, we made four personas to better understand our users’ goals. In order to remind ourselves of the segmentation, we established the same bi-polar opposites for all personas but their personality traits act differently within these bi-polar. We based our personas on the SCAD community as this is where the service will start. Students from SCAD not only come from different countries all over the world but also have different habits and preferences that we need to acknowledge in order to better satisfy them. We chose to illustrate a Latin and an Asian student as most international students at SCAD have these origins. We also have two American students as SCAD is here in the United States and about 90% of students are American. One is not that health conscious while the other one is an athlete and has to be health conscious. View following pages for personas. Home Cook SCAD Students School staff Other Citizens High Interest Low Interest Market Chosen Other Students Bring to School Buy Ready- Made In this market segmentation, we do not mention how health conscious our target is because people who are not necessarily health conscious will use our service because of its convenience and will unconsciously shift towards a healthier and more sustainable lifestyle.
  12. 12. 10 Fast Paced Active Adrenaline Seaker Focused Junk Oriented Prepares Food Slow Paced Passive Comfort Seaker Distracted Health Oriented Eats Available Food KEY MOTIVATORS Quick Accessible No need to cook EXPERIENCE GOALS Variety Practical END GOALS Satisfied Energized EXPECTATION GOALS Healthy Quality Tasty Andrea Suzio 18 years old From Caracas, Venezuela Major: Interior Design No job DAILY LIFE: KEY MOTIVATORS Quick Accessibility No need to cook EXPERIENCE GOALS Practicality Can enjoy outside with friends END GOALS Satisfied Energized EXPECTATION GOALS Tasty Right temperature Saucy Fast Paced Active Adrenaline Seaker Focused Junk Oriented Prepares Food Slow Paced Passive Comfort Seaker Distracted Health Oriented Eats Available Food John Maul 26 years old From San Jose, CA Major: Furniture Design Freelance Contractor DAILY LIFE: Marketing Plan Target: Latin student Target: American student
  13. 13. 11 Fast Paced Active Adrenaline Seeker Focused Junk Oriented Prepares Food Slow Paced Lazy Comfort seeker Distracted Health Oriented Eats Available Food KEY MOTIVATORS Quick Accessible Nutrition Conscious EXPERIENCE GOALS Practical Minimal Odor END GOALS Satisfied Energized EXPECTATION GOALS Healthy Quality Small Portion Local Alexandra Conklin 21 years old From Milwaukee, WI Major: Advertising SCAD Women’s Soccer DAILY LIFE: Colin Lee 20 years old From Hong Kong, Major: Photography Fast Paced Active Adrenaline Seekers Focused Junk Oriented Prepares Food Slow Paced Lazy Comfort Seeker Distracted Health Oriented Eats Available Food DAILY LIFE: KEY MOTIVATORS Quick Accessible EXPERIENCE GOALS Variety Practicality Samplers END GOALS Satisfied Repeat visitor EXPECTATION GOALS Trendy Tasty Cool Brand Image Marketing Plan Target: Healthy student Target: Asian student
  14. 14. 12 Marketing Plan Marketing Tools and Mix Moving forward with the marketing plan, we used our personas to develop the tools and mix to result in the highest success possible. How we plan to use each tool (traditional 4 Ps as well as marketing tools for services) is explained below. Product: • High quality ingredients • On-the-go, practical meals • Eco-Friendly • Social Media App • Sutainable packaging • Virtual Coaching Price: • Highest price point that students are willing to pay • Convenience cost • Locally grown & quality product cost Place: • One traveling branch • Home base kitchen • Revolving location based on popularity Promotion: • Social media hype • Flyers • Word of mouth • Advertising on school’s internal website (ie. MyScad) People: • Split Presidency • Chef / server / cashier • App developer • Local farmers (Farmer’s Market) • Wholesale food distributors • Nutritionist Process: • Quick • Seamless • Simple, pre-ordering via app • Payment accepted through app • Always communicating & building awareness • Transarency of information Physical Evidence: • Cooking and cleaning appliances • Food Truck • App (smartphone) and social media / notifications • Packaging and disposables • Paying system (Square / cashier) • Food and beverages Fresh Leaves’ marketing mix is based on how we plan to grow over time. To start off, we aim to promote and build awareness through social networking with minimal expense towards print advertising. The awareness will be a huge focus in order to develop a loyal customer base. The product will stick to the business mission and be practical, and on-the- go. A developed app will come into play in order to help in smoothing the process as well as adding to the awareness and promotion. A mockup of this app can be found in Appendix D. Fresh leaves will initially just be run by us, Molly and Charlotte, who will be in control of everything from recipes offered and actual cooking to photography and social networking. A Nutritionist and app developer will need to be hired for the two jobs that we are not competant in: diet coaching and coding the app.
  15. 15. 13 Marketing Plan YEAR 1 SALES OBJECTIVES First 5 months: • Sell 1,350 meals per month to reach $12,398 of revenue from meals purchased • Sell meals for an average of $9.50 each, per week-day, in at least three locations to receive $570 daily revenue, plus an additional $475 of revenue for Friday (50 meals per Friday) • Meal prices are $8, with sales averaging $9.50 per person (with added drink / snack /add on, and tax included). Rest of the year: • Target the school’s gym and athletic fields, with pre/post workout smoothies and snacks. Prices range between $2.00 and $7.50 with possible add ons for $0.75 each. Our goal is a combined 135 sales from smoothies and snacks, bringing in $405 a month. YEAR 2 SALES OBJECTIVES • Develop End of the Day Goodies concept further : analyze first year sells and increase by 50% • Provide one vending machine to be placed in the highest revenue school building YEAR 3 SALES OBJECTIVES • Apply system to one other school in Savannah (Armstrong), with the same truck, targeting this new location half of the week until notice of which brings in higher revenue. Only develop gym and vending machine concept a year after implementation in the new school. • Rent location for a kitchen, to continue growing as not just a business, but a user centered service by promoting a healthy and sustainable lifestyle. Sales Breakdown: The breakdown of meals being sold is divided amongst the three stops per day of Monday through Friday, as well as weekends in order to successfully reach our goals. Additionally, the End of the Day Goodies part of the business will only aid towards revenue and help the break-even process move along. The anticipated monthly sales revenue is $10,260. The End of the Day Goodies are anticipated to start bringing in around $200 - $300 a month at the end of the first year, with an increase to an average of $700 a month after year 1. Along with the sales of healthy meals, we will implement a virtual nutrition coach system, which will attract students to join through designated student ‘ambassadors’ whom are chosen by us, Charlotte and Molly. For the first year, we will average $400 of revenue from the virtual nutrition, as it will be around $20 a month per student. Year 1 overall revenue will average $12,563. Year 2 and year 3 revenue will increase thanks to selling smoothies and snacks. Aside from sales coming from the Food Truck, revenue will also generate from the vending machine within the building that was previously collecting the most highly generated revenue. The average revenue of Year 2 and 3 is $15,100.
  16. 16. 14 Operations Plan Service Blueprint In the Appendix E, our blueprint shows a step-by-step description of user actions and how employees interact directly (frontstage actions) or indirectly (backstage actions) with the consumer. We detailed the beginning of the day (preparing the food and serving it at 10.30am, and the end of the day (after 5pm) since actions of serving the food will be repeated throughout the day. On weekends, operations are mostly backstage as they include buying food, talking to suppliers etc. Suppliers • Restaurant depot • Farmer’s Market Resources • Kitchen • Truck • Storage • HR • Paying system (Square and cash) Human Resources • Molly • Charlotte • App developer • Nutritionist 1. Cooking / Preparing meals 2. Entering location on app 3. Driving to location 4. Selling food at school building 5. Entering goodies into app for additional purchase 6. Making daily accounts
  17. 17. 15 Management Team Job Descriptions and Organization • Cooking: Molly MW / Charlotte TTR Fridays: one time Molly next Charlotte (ongoing) • Driving: Both Molly & Charlotte • Serving / Cashier: Charlotte MW / Molly TTR Fridays: one time Charlotte next Molly (ongoing) • Driving Social Media Presence: 100% from both Charlotte & Molly everyday • Managing Online Data (keeping track of populism, likes, comments etc): Molly for first few months (milestone: hire someone when enough revenue is acquired to do this for us) • Manage App orders: Molly • Buying Food: Molly • Managing Partnerships: Charlotte • Cleaning: Both • Managing finances: Both • Photography: Charlotte • Determining Menu: Both • Following up with nutrition plan members: Nutritionist • Developing app and updating it: Tech employee Below is a list of tasks we will need to conduct everyday to run the business. As we have similar skills and both enjoy dealing with food, we share most of the tasks and will alternate roles. However, we assigned these roles to have a structure and make sure that we do the job even when we do not feel like it. Following this page are professional and personal profiles of ourselves to understand our goals and personality alignments as we will be working together everyday.
  18. 18. 16 Management Team • 22 years old, French college student • Daily life: going to class; doing homework in coffee shops; learning to make leather goods; working out or playing tennis; scrolling through Instagram or Pinterest; discovering new music on Soundcloud; reading Fastco blog; watching TV shows. • Passion: Traveling • Relation to food: Loves to eat and try meals. Likes to cook, high interest in discovering/cooking new interesting healthy meals, will spend money on fine dining. Eats out about 5x/week. CHARLOTTE Personal Professional • Service Design Senior with Minor in Accessory. • Passionate about improving people’s everyday lives through design thinking. • Skills: Driven, Challenge-seeker • Works best in a collaborative environment • Always looking for mentors to learn from and guide through career / project decisions Professional • Service Design Senior • Passionate about user-centered design and creative problem solving. • Skills: Adaptable, Insight retrieving • Team player • Grows from the collaborative minds surrounding As we can see through our profiles, we have simlar skills and will work side by side spliting tasks, for most of what is need to be done. We will need to hire an app developer as a free lancer to help us make the app as our coding experience is minimal. This person will be hardworking and knowledgable, with great communicaiton skills. He has to be efficient under tight deadlines and available for further collaborations. In addition to him, we ahve to hire a professional nutritionist for the nutrition program and once revenue is big enough, we will hire an accountant to deal with financing. • 22 years old, From New York • Daily Life: attending class; doing homework with friends or solo; drinking coffee; listening to music & working out; catching up on TV shows via Netflix or Hulu. • Passion: Health & Fitness, & Soccer • Relation to Food: Loves to cook and discover new recipes by mixing new ingredients as well as whatever is available at the time. MOLLY Personal
  19. 19. 17 Financial Plan Estimated Costs Our estimated costs for the first year comes to $250,340. It is derived from projected inventory to produce the amount of sales we have to make happen. Other estimated costs come from factors such as the purchase of the food truck, initial startup costs such as cooking utensils and supplies, and permits (applications and licensing), as well as the materials to integrate the vending machine. Estimated costs will slightly rise the next year because of other implementations such as the vending rental space, and the virtual nutritionist. By the end of year 2, the estimated costs fall, bringing year 3 estimated costs to $165,012. Fixed Expenses: The fixed expenses are accounted for, as costs are static no matter what our profit or loss may be. Purchasing of the food truck is broken up into a payment plan with a constant monthly cost of $3,000 for year 1 & 2. This payment ends at the end of year 2, which results in lower overall expenses. Other fixed expenses are kitchen space rent, utility payments, truck licensing and insurance, parking, salaries, miscellaneous marketing, and loan payments with interest. All of these expenses are not necessarily constant for every month through the year, but the cost does not depend on or change with sales and revenue. Variable Expenses: Variable expenses are costs revolving around the status of our sales. These costs consist of the purchase of ingredients and beverages, packaging and disposables, and gasoline. The amount of food we buy will fluctuate according to demand from our consumers. This will also reflect the gas we use up on a monthly basis, because of the different mileage driven every day. Variable costs are reflected in the monthly and annual cost statements. Income Statement Income statement allows us to compare costs against revenue. The income statement data sheet and cash flow analysis can be found in Appendix F. Balance sheet With Fresh Leaves being a start up, we have developed a balance sheet for opening day. This sheet consists of the assets and liabilities of the business. There are current and fixed assests. Current assets for Fresh Leaves includes cash at hand by the founders, cost of inventory and supplies necessary to launch, such as all ingredients for cooking, and gasoline to drive the truck, as well as any pre-paid expenses; which consist of payments such as licensing, an application to start the business, packaging and disposables, and any marketing necessary in order to be succesful upon starting. Liabilities within a balance sheet are debts owed to suppliers, also known as accounts payable. For Fresh Leaves’ opening day balance sheet, the current liabilites are taxes, salaries, interest on the loan we are asking for, and insurance that we will owe. The long term liability we withhold is the $75,000 loan we are asking for. The balance sheet can be found in Appendix G. Return on Investment As Fresh Leaves is a convenient service of freshly prepared meals, one of the most important element of the business is the food truck. We had initially planned to rent a truck for two years and buy a high quality one later but then realized we were not making enough revenue within the first two years to rent and then buy one. Also, it was not going to be worth it if we were spending more to have an average truck. Consequenty, we found a payment plan of $3,000 per month for two years, and realized it was cheaper to directly buy the truck with this plan. Furthermore, avoiding a change in truck is ideal as we do not want our consumers to be confused by our identity. Although we (Molly and Charlotte), could serve as nutritionists because of our high knowledge in healthy foods, we have no official recognition and would not appear as credible as the nutritionist hired. Hiring a nutritionist will reassure conusmers and incite them to become members.
  20. 20. 18 Break-even Analysis With the average sale at $9.5, we must sell 60 meals per day or 960 meals a month, in order to break even at the end of the second year. Our expenses slowly decrease through year 1 and year 2, which leads towards the beginning of making profit. Below, the break-even (BE) point is shown at the intersection of costs and revenue, when revenue exceeds costs. In Appendix H is the break-even graph of the detailed month to month breakdown through the first 3 years of business. Financial Plan Year 1 Year 2 Year 3 $5,000 $10,000 $15,000 $20,000 $25,000 Average Costs Average Revenue BE
  21. 21. 19 Implementation Roadmap Milestones Scenarios • Become the first choice for ready-to-eat on-the-go food for students at SCAD within a year • During the second year of business, build a vending machine to sell meals and snacks in most popular building. • During the third year of business, estabish a central stable location to promote a healthy and sustainable lifestyle and have a kitchen dedicated to the business • When breakeven point is reached for the SCAD community (third year), grow out to Armstrong, by going twice a week with truck used for SCAD. If demand grows as expected, have one truck per campus. Once success is attained at Armstrong, install vending machines and grow to another campus in Savannah (such as Savannah State). If business model is successful, plan to expand to two college communities within 150-mile radius. Meaning, new trucks and new resources for the different cities. • Once 100K revenue is reached within the 150-mile radius, roadtrip through the US, following social media call-outs by students wanting us to come to their campus. • Increase Virtual Nutritionist Program of 10% participants each year. Become the ‘go-to’ source for health concerns, nutritional options and advice. • What if the city of Savannah allows food trucks and competition rises? Our advantage is that we focus on college communities. Fresh Leaves’ tailored locations and menus fit student’s wants, needs and goals. However, to ensure loyalty to our products, we will adjust prices to stay competitive in relation to new food trucks and offer a loyalty card to make costumers come back. This card will offer a 50% reduction in price for one meal, after 20 meals purchased. Furthermore, we will partner with local popular stores to promote our brand and sell a recipe a week. We would prepare 20 meals of this recipe a week and the partner restaurant would receive 30% of each meal sold. On the long term, we would choose only two restaurants in the area and sell them three recipes that fit their current menus. • What if costs become larger than revenue? We will start to work in SCAD’s community garden to recolt fruits and vegetables which will lower costs of groceries. This implies that we will either need to hire someone to take care of the garden and recolt fruits and vegetables or run the truck while one of us (Molly/Charlotte) works in the garden. Additionally, we will instore a $350 meal plan system with 50 meals per quarter to ensure consumers keep on coming, as they have meals to consume on their plan. This system is cost effective for users as with the meal plan, they pay a fixed price of $7 per meal instead of an average of $9.50 (drink/ snack/extra included) • What if our success is larger than what SCAD expects and they do not want to be associated with us? We will target other cities with more universities and instead of having a university based contract we will manage everything on our own, and sell on public ground only. We could also stay in Savannah and negotiate with the town hall to come with an agreement and possibly some changes in the business model, like only selling to SCAD students. Finally, another proposition would be to let SCAD buy the business, or part of it, in order to include some Fresh Leaves meals in regular student meal plans. SCAD would then become the primary investor and stakeholder for Fresh Leaves.
  22. 22. 20 Fresh Leaves Appendices
  23. 23. 21 Business Description - Appendix A Business Model Canvas - Fresh Leaves KeyPartnerships Suppliers -Wholesalegrocerystore -Farmer’sMarket Techdeveloper Nutritionist Bank Activities Dealingwithpartners Buyinggroceries Preparing/servingfood Drivingtolocations Determiningmenu Drivingsocialmedia Managingonlinedata Managingapp Cleaningtruck Managingfinances Foodphotography Resources Truck Storage(extrafridge inhomes) HR ValueProposition Forcollegestudentswhoneed tofeedtheirstomachand brainhealthyandenergizing food,thatispreparedwith organicingredients.Unlike grocerystores,myservice offersready-to-eathealthy mealsinordertosupplyand promoteasustainablelifestyle. Channels Truck App Instagram Facebook Twitter Relationships Friendlyandhelpful Personalassistance Communitycaring Customers Collegecommunities: -primarlystudents -professors -staff -othersurroundingpeople (ex.touristsinSavannah passingbyaSCAD building) Revenue Sellingmeals,snacksandcmoothies Nutritionplansubscribers CostStructure Truck(buyingandrenovatingtoneedsandaesthetics+Gas),Storageunits (fridge+additionalcupboards?),Employeesalaries,Digital(socialand app)maintenancecosts,Certificationfees Osterwalder, Alexander, and Yves Pigneur. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Hoboken, NJ: Wiley, 2010.
  24. 24. 22 Business Environment - Appendix B Business Model Canvas - Fast Casual Overview KeyPartnerships Foodsuppliers Deliverycompany Investors Techdeveloper Community Activities Dealingwithpartners Buyingsupplies Preparing/servingfood Drivingsocialmedia Managingonlinedata andapp Cleaningfacilities Managingfinances Resources Store/restaurant HR Seatingarea ValueProposition Foranyonewhoneeds tofeedtheirstomachin arapidandefficientway. Unlikegrocerystores,our serviceunablesusersto notworryaboutpicking ingredientsandcooking becasueweprovidefood thatisfreshlymadeforthem. Channels Store/restaurant App/website SocialMedia Relationships Friendlyandhelpful Personalassistance Customers Surroundingpeoplewho areon-the-go (ex.students,locals,families, businessmen/womenetc.) Revenue Sellingmeals CateringServices CostStructure Store/Restaurant(rent+utilities),employeesalaries,digital(socialandapp/ website)maintenanceandcleaningcosts,deliverycosts,certificationfees Osterwalder, Alexander, and Yves Pigneur. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Hoboken, NJ: Wiley, 2010.
  25. 25. 23 KeyPartnerships Suppliers Deliverycompany Partnerbrandswhoselltheir productsatthesupermarket Charities(donations) Othercommunities Farmers FDAcertifiers Chefsinotherrestaurants Cleaningservices Activities Makingsureallproducts areavailable Helpingcustomers Attractingandretaining customers Recruitingandtraining employees Sellingproducts Marketing Resources Brick-and-mortarstore Vehicules ITsystems Distributionnetworks Patentsandcopyrights Knowledgableand competantemployees Financialresources R&D ValueProposition Forpeoplewhobuyfood; whoneedtopreparefoodfor themselves;supermarketsare facilities;thatdeliveravariety ofoptions.Unlikerestaurants; ourserviceenablespeopleto cookforthemselves;because weprovideavarietyof choices Channels Store Website App Socialnetworks Advertising Word-of-mouth Socialcircles Relationships Selfservice Assistanceforadditional information Customers Foodshoppers -Individuals -Households Employees(discount) Businesses Cateringcompanies Revenue Sellingproducts,Restaurant/deli&bakery,Membershipcards, Advertising,Keypartners CostStructure Building(rentandutilities),Employeesalaries,Deliveryofproductstostore, Externalservicesneededforcompany,Digital(webandapp)maintenance costs,Travelingcostsforproductresearch,Certificationfees Business Environment - Appendix C Business Model Canvas - Grocery Store Overview Osterwalder, Alexander, and Yves Pigneur. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Hoboken, NJ: Wiley, 2010.
  26. 26. 24 Marketing Mix - Appendix D App Mock-Up - Fresh Leaves Sprint 3G 1:17 PM 94% Superbread with Avocado Spread GF - Vegan / Calories: 374 Ingredients: - Bread: water, brown rice flour, almonds, sunflower seeds, flaxseeds, chia seeds, basil and thyme. - Spread: avocado, tomato, pumpkin seeds, lime, salt and pepper Order now: Adler 1.30pm Gulfstream 2.15pm Monty 3.15pm Size: Full Portion 1/2 Portion Preferences:* No Tomatoes Add Feta Cheese Hummus No Avocado Location & Time: *Adding preferences will result in additional cost. Checkout Fresh Leaves Sprint 3G 1:17 PM 94% FREE Trial Plan 20 meals Recipe ideas for Breakfast, Lunch, Snack and Diner. Fresh Leaves NUTRITION PROGRAMS 3 Weeks Detox Plan 84 meals Easy to follow meal program for 21 days. Tailored to busy students. 2 Months Nutrition Plan 126 meals 60 days of easy delicious recipes for busy students. Personalized Feedback Upload a picture + quick discription of your meals for Sarah to give feedback on your meals and help. . . ABOUT Sarah, our nutritionist, has a BA Nutritional Science from Boston University. Together, we have created 4 plans to satisfy your nutrition needs and help you to eat healthy.Sprint 3G 1:17 PM 94% HOME SOCIAL END OF DAY GOODIES NUTRITION PROGRAM ACCOUNT ABOUT LOG OUT
  27. 27. 25 Operational Plan - Appendix E Service Blueprint - Fresh Leaves Make students aware ofnext location Cook protein toensure freshness List available goodiesfor theendof theday Prepare anyfood thatcan bemadein advance Clean Review Daily accounts& earrnings BuildHypeViaSocialMedia: Aftereachmealservice(11pm,2pmetc)postonepicture AnnouncewhereheadednextORifskippingnextbreak Undercheckleftovers:postpictureofleftoversforEndofTheDayGoodies Physical Evidence Customer Action Front Stage nteraction Backstage Interaction Supporting Process LineofInteraction LineofVisibility Driveto location PrepPre- Orders& labelwith correct name Notify through Appwhere 10:30am locationis Loginto app Begin serving Placeorder & pickuptime Receive confirmation oforder Goto truckduring break Pickup order Eat&rinse packaging forlateruse Upload picture& writereview forthemeal &service Checknoti- ficationsto locatetruck forgroceries Browse available groceries Purchase goodiesto bringhome Return Home Collect Payment LineofInternalInteracton Package& sellgoodies
  28. 28. 26 Financial Plan - APPENDIX F Cash-Flow Analysis / Income Statement - Fresh Leaves Year 1 Fresh Leaves Cash Flow: FiscalYear Begins:Jan15 BeginningJan-15Feb-15Mar-15Apr-15May-15Jun-15Jul-15Aug-15Sep-15Oct-15Nov-15Dec-15MonthlyAverage: CashSummary CashonHand(beginningofmonth)175,000171,578163,920156,262148,307141,020133,837125,061116,606109,625103,35897,04089,210129,652 CashAvailable(onhand+receipts,beforecashout)175,000183,578176,418168,462161,248154,088145,337136,911129,961123,723117,406110,64098,810142,215 CashPosition(endofmonth)171,578163,920156,262148,307141,020133,837125,061116,606109,625103,35897,04089,21077,424121,806 CashReceipts MenuFoodSales:12,00012,39812,00012,39812,39811,00011,15012,00012,39812,39811,9008,85011,741 Goodies:0100200303350100200350400400500100250 Snacks/Smoothies:000000040560055045050171 Vending:0000000000000 Nutrition:000240320400500600700700750600401 TotalCashReceipts12,00012,49812,20012,94113,06811,50011,85013,35514,09814,04813,6009,60012,563 MonthlyFixedExpenses: Kitchen:300300300300300300300300300300300300300 TruckPayment:3,0003,0003,0003,0003,0003,0003,0003,0003,0003,0003,0003,0003,000 TruckInsurance:250250250250250250250250250250250250250 VehicleLicensing:100100100100100100100100100100100100100 Parking30303030303030303030303030 Salary:Founder1:3,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,500 Salary:Founder2:3,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,500 Nutritionist:7296120150180210210225180160 LoanPayments:3,5633,5633,5633,5633,5633,5633,5633,5633,5633,5633,5633,5633,563 BusinessApplication&Licensing:325 Misc.Marketing:300 CookingUtensils:250 MonthlyVariableExpenses: Food&Beverage:3,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,308 FreelanceDeveloper:1,0001,0000000000000083 Packaging&Disposables:1,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,5471,547 Gasoline:150100100100100100100100100100150150113 VendingMachine:1,0001,0001,000 Tax: Food&BeverageTax:959959959959959959959959959959959959959 TotalCashPaidOut3,42219,65920,15620,15620,22820,25220,27620,30620,33620,36620,36621,43121,38620,409
  29. 29. 27 Financial Plan - APPENDIX F.2 BeginningJan-16Feb-16Mar-16Apr-16May-16Jun-16Jul-16Aug-16Sep-16Oct-16Nov-16Dec-16 Monthly AverageOverview CashSummary CashonHand(beginningofmonth)77,42477,42473,36568,42963,41959,51555,87648,33242,00636,18532,92128,06522,94450,707 CashAvailable(onhand+receipts,beforecashout)77,42493,97988,67883,69879,77976,12568,55162,22556,40453,18548,32943,21333,74465,659 CashPosition(endofmonth)77,42473,36568,42963,41959,51555,87648,33242,00636,18532,92128,06522,94413,53545,383 CashReceipts MenuFoodSales:13,50012,39812,39813,50013,50011,15012,00012,39813,50012,39812,39810,00012,428 Goodies:600750606500750250303500800700600100538 Snacks/Smoothies:405405405550600275350500650500450100433 Vending:1,2009609609609603005403001,2009601,000100787 Nutrition:850800900850800700700700850850700500767 TotalCashReceipts16,55515,31315,26916,36016,61012,67513,89314,39817,00015,40815,14810,80014,952 MonthlyFixedExpenses: Kitchen:300300300300300300300300300300300300300 TruckPayment:3,0003,0003,0003,0003,0003,0003,0003,0003,0003,0003,0003,0003,000 TruckInsurance:250250250250250250250250250250250250250 VehicleLicensing:100100100100100100100100100100100100100 Parking30303030303030303030303030 Salary:Founder1:3,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,500 Salary:Founder2:3,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,500 FreelanceDeveloper:300300300300300300300300300300300300300 Nutritionist:255240270255240210210210255255210150230 LoanPayment:3,5633,5633,5633,5633,5633,5633,5633,5633,5633,5633,5633,5633,563 Misc.Marketing:300300 MonthlyVariableExpenses: Food&Beverage:3,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,308 Packaging&Disposables:1,0001,0001,0001,0001,0001,0001,0001,0001,0001,0001,0001,0001,000 Gasoline:150100100100100100100100100100150150113 VendingMachineSpaceRent:100100100100100100100100100100100100100 Tax: Food&BeverageTax:959959959959959959959959959959959959959 TotalCashPaidOut20,61420,24920,27920,26420,24920,21920,21920,21920,26420,26420,26920,20920,277 Cash-Flow Analysis / Income Statement - Fresh Leaves Year 2 Fresh Leaves Cash Flow:
  30. 30. 28 BeginningJan-17Feb-17Mar-17Apr-17May-17Jun-17Jul-17Aug-17Sep-17Oct-17Nov-17Dec-17 Monthly AverageOverview CashSummary CashonHand(beginningofmonth)13,53513,53516,65919,49321,61823,72027,25926,56826,71027,52230,96132,77333,99225,068 CashAvailable(onhand+receipts,beforecashout)13,53530,44033,22435,36437,22640,78039,98440,11141,20844,72246,51947,77346,09240,287 CashPosition(endofmonth)13,53516,65919,49321,61823,72027,25926,56826,71027,52230,96132,77333,99232,35626,636 CashReceipts MenuFoodSales:13,75013,50012,90012,39813,50011,00011,50012,39813,50012,39812,00011,00012,487 Goodies:600750606500750250303500800700600100538 Snacks/Smoothies:405405405550600275350500650500450100433 Vending:1,2009609609609603005403001,2009601,000100787 Nutrition:9509501,0001,2001,2509008508001,0501,000950800975 TotalCashReceipts16,90516,56515,87115,60817,06012,72513,54314,49817,20015,55815,00012,10015,219 MonthlyFixedExpenses: Kitchen:300300300300300300300300300300300300300 TruckPayment:0000000000000 TruckInsurance:250250250250250250250250250250250250250 VehicleLicensing:100100100100100100100100100100100100100 Parking30303030303030303030303030 Packaging&Disposables:1,0001,0001,0001,0001,0001,0001,0001,0001,0001,0001,0001,0001,000 Salary:Founder1:3,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,500 Salary:Founder2:3,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,5003,500 FreelanceDeveloper:3003003000000300300300300300200 Nutritionist:285285300360375270255240315300285240293 MonthlyVariableExpenses: Food&Beverage:3,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,3083,308 Gasoline:150100100100100100100100100100150150113 VendingMachineSpaceRent:100100100100100100100100100100100100100 Tax: Food&BeverageTax:959959959959959959959959959959959959959 TotalCashPaidOut13,78113,73113,74613,50613,52113,41613,40113,68613,76113,74613,78113,73613,651 Financial Plan - APPENDIX F.3 Cash-Flow Analysis / Income Statement - Fresh Leaves Year 3 Fresh Leaves Cash Flow:
  31. 31. 29 Financial Plan - APPENDIX G Fresh Leaves Opening Day Balance Sheet Cash $175,000 Inventory and Supplies $3,458 Pre-paid Expenses $3,522 Total $181,980 Machinery & Equipment $3,280 Real Estate/Building $300 Total $3,580 Total Assets $185,560 Taxes $959 Salaries $7,000 Interest Payable $10,512 Insurance $250 Total $18,721 Assets minus Current Liabilities $166,839 Bank Loans $75,000 Total $75,000 Invested $4,000 Total $4,000 Total Liabilities and Networth $91,839 LIABLITIES Current Liabilities Long Term Liabilities Owners' Networth ASSETS Current Assets Fixed Assets Opening Day Balance Sheet- Fresh Leaves
  32. 32. 30 Financial Plan - APPENDIX H Break-Even Graph - Fresh Leaves
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