Table of contents
SWOT Analysis
Strengths
*There are partners that take up a lot of time but make it easier to offer things in a favorable manner.
*Both business owners do market research, demonstrating that we both understand how to manage a company.
*Chocolate bowls are something we’re familiar with.
*When it comes to ideas, partners are innovative and forward-thinking.
*One of us has a background in art, which will assist us in laying out our items in a more imaginative manner.
*We’ve come up with a new and original concept that we believe the majority of our customers will like
Weakness
*We may now not have sufficient financial resources, e.g., not enough to purchase strawberry toppings;
*We may now not have specific assets, e.g., we do not have a mobile fridge in which to keep our strawberries, cream, and chocolate bowls; we may now not have certain assets that we require, e.g., we do not have a cellular fridge in which to keep our strawberries, cream, and chocolate bowls;
*We may now not have certain assets that we require, e. We all have our own ideas on how to operate the business, which may make collaboration difficult.
Opportunities
*Strawberry and chocolate are two foods that many people like.
*We use social media to market our company and get more consumers.
Threats
*Certain foods, such as strawberries and chocolate, are allergenic to certain individuals.
*Other businesses offer food and beverages, such as virgin cocktails.
1.1 Objectives
1. Achieve sales of over R1000 in your first year.
2. Increase our sales by half (50%) for next year’s market day.
3. Next year’s market day will have more goods.
1.2 Mission
Strawberries and C is a welcoming company devoted to providing excellent muffins in a quiet and pleasant atmosphere for our clients. We plan to create enough profit to provide a reasonable return to our investors/clients; however, the profit will not only be used to repay the traders but will also be utilized to fund continuing growth and development in the quality of our goods. We also maintain a welcoming, fair, and inventive workplace that values diversity, fresh ideas, and hard work.
1.3 Success Factors
*Patron service and dedication to the finest exquisite substances “not giving up no matter what.”
*Consistent worker training and awareness campaigns.
*Lower your costs and give back to the community.
2.0 Summary of the Business
Strawberries and C is an idea for a dessert bar. It focuses on handcrafted truffles in a relaxed setting. Our company’s unique selling feature is preparing barren land directly in front of our customers.
2.1 Ownership of the Business
Strawberries and C is an investment-seeking partnership. We chose this form of ownership for the following reasons:
-As partners, we are able to pool our expertise and abilities to make the best decisions for the company creatively and collaboratively; however, this form of ownership is cost-effective because it is difficult to get in backyard understanding to assist unless one of the partners has prior experience in the particular department. We share responsibilities and workload, making it quicker to complete an activity; also, as partners, we share costs such as start-up capital and offers, reducing fees and allowing for higher profits. We have a personal interest in the firm as partners and owners, thus we ensure that the company accomplishes its objectives via great management and administration.
Despite the fact that there are no legal requirements to register with the Registrar of Companies, we have decided to draft a partnership agreement as partners.
3.0 Products and Services
-Strawberries and C provides delicious truffles with exceptional customer service in a relaxing environment. Customers are welcome to dine in while watching us prepare their dessert. In addition, we provide a reward to the customer who purchases the most of our sweets, as well as a trophy for our gourmet’s outstanding style.
As a token of thanks to our wonderful customer, our chef has created a limited-edition dessert with a delectable hidden ingredient, which he has artistically prepared. And each month, customers may participate in the exciting and unique opportunity to learn about how we function; our clients will practice, and only a few applicants will be picked.
-In addition, we will provide unique incentives such as education to our community members who are interested in working in the business. Moms will be motivated to bring their children in for snacks they made during the session! Moms may also come in with their friends for some peaceful time away during our TeaTime. We’ll also have a huge table that can be rented for parties to promote Strawberries and C as a desire to celebrate.
-Because we provide a distinct diversity of services, our product will have an aggressive aspect. And, as an organization, we prioritize the needs of our communities, as a result of which we have acquired their trust and loyalty. Our objective is to stay on top of the latest trends, understand our customers’ cultures, and figure out what they really want. In addition, we keep our client’s preferences in mind, which is our primary goal.
4.0 Conclusion of the Market Research
Strawberries & C focuses on local markets, with a special emphasis on five well-known food establishments and their patrons. Strawberries may be cultivated everywhere in Queensland, although industrial production is best in the hotter coastal districts of South East Queensland.
When there is minimal competition from other growing places in Australia, these locations allow iciness and early spring manufacturing.
4.1 Segmenting Your Market
Comfort Creatures, soccer mothers, Celebrators, and Gourmet Wanna-bes are the four psychographic groups that make up our market. They represent enterprises run by individuals who have similar habits and live similar lives.
Comfort Creatures are white-collar workers who are motivated by achievement and status yet neglect to consume the home-cooked comfort foods that they remember from their childhood. They might also come in on their own or bring others in for a gourmet dessert experience.
Celebrators are simply that: people who get together to commemorate special events. Families and loved ones will gather at Strawberries and C for our delectable muffins and a festive environment on special occasions such as birthdays, anniversaries, graduations, Valentine’s Day, and so on.
All family members are included in Soccer Moms. Rutabaga Sweets is a meeting spot for families. “Moms” may come in with their kids after school for some pampering while we take care of the young ones. Alternatively, they may meet up with friends for Tea Time, a little civilized time snatched from a hectic day.
Gourmet aspirants tune on to the Food Network and may easily spend R150 or more on a fresh new cookbook. They will have the opportunity to sign up for our culinary classes with our talented chefs.
4.2 Market Segmentation Objectives
We specifically targeted those who have a fondness for delectable muffins as well as a need for relief and relaxation. Strawberries and C is a paradise for the busy and accomplished who want to treat themselves to something sweet and sinful! It won’t take much time, but it will be quite gratifying. These people will have no reservations about appreciating the high-quality product that has been provided. Whether celebrating a birthday or popping in before work or a meeting, our customers will appreciate the fun and quick service we provide.
4.3 Analyzing the Service Sector
Despite the fact that Strawberries and C is a new area of interest in the foodservice market, we have a lot in common with other quick-service dessert companies, and so compete with them:
- Any establishment that serves dessert qualifies.
- Baskin-Robbins, Ben & Jerry’s, and other ice cream parlors
- Anywhere donuts Carry-out and dine-in options are available.
- Supermarkets compete with in-store bakeries and frozen speciality treats.
- Bakeries are conventional bakeries that operate on a free-standing basis.
4.3.1 Purchasing Patterns and Competition
Despite the fact that Strawberries and C is pioneering a new segment of the restaurant sector, we are in direct competition with a number of other companies. We have to fight the notion that dessert is only served after a certain meal and that it doesn’t have to be anything more than strawberries and cream. Every day should be a reason to rejoice, in our opinion. And being able to see your gourmet dessert being prepared by a chef is a bargain that everyone enjoys.
While price is a consideration when competing against Ice Cream and Coffee Shops, clients who are willing to spend a hundred rand for a latte or a scoop of ice cream are already aware of superior quality. We believe they’ll be equally prepared to pay a little more for a fantastic dessert in a warm and welcoming environment.
Clients’ preferences for sweets are influenced by the relief factor. Strawberries and C’s ecosystem and personnel succeed in being warm and welcoming. And instead of scary cakes that resemble architectural colossi, the menu will focus on “comfort food” muffins. We will employ the highest quality goods, combining the ordinary with the extraordinary on occasion, but we will always present our truffles in a threatening manner.
5.0 Advantage over your competitors
Our aggressive aspect is our one-of-a-kind specialty in a long-established sector. Although restaurants, cafés, bakeries, ice cream stores, and a variety of other businesses provide a connected service, none are as attractive as Strawberries and C. We’re giving clients an entirely new experience and a much superior product. They won’t find a professional chef preparing delectable sweets in front of them anywhere else. The Food Network’s enviable reputation reflects the public’s renewed interest in becoming a kitchen observer.
5.1 Strategy for Promotion
Consumer education and subsequent word-of-mouth will be the marketing strategy for strawberries and C. We’ll be known as a one-of-a-kind dining experience and a top-notch dessert store. Customers will be contacted through leaflets, newspaper advertisements, and specific holiday incentives.
In advertising and marketing, location will be crucial. The business will be located in Durban’s BID, which is a high-traffic retail neighborhood. The Business Improvement District in Durban offers a variety of benefits to companies who do business there. There are also the tourists who will be attracted to the location since it is close to SARS headquarters.
Strawberries and C will cater to forward-thinking, well-educated, and affluent customers who are interested in trying new products and experiences but are frustrated by the limited resolution and lack of private carriers found in grocery store bakeries, nearby cafes, and ice cream shops, and nearby restaurants.
5.2 Strategy for Selling
We need to advertise both the company and the goods. Strawberries and C will become known for their spectacular sweets, just as Starbucks has become known for its great coffee products.
We need to sell not just an incredible “show” while the truffles are made, but also above-and-beyond service personnel that is knowledgeable and kind. At Strawberries and C, guests will always feel welcome and at ease.
Our impressive revenue prediction is shown in the Yearly Total Sales graph.
5.2.1 Sales Predictions
Our sales forecast for the first 12 months of operations, which began in September 2017, is conservative. We challenge substantial sales gains over the next years after establishing Strawberries and C as “the” venue for sweets and festivities. For desserts, POP, and carry-out, we expect a 30 percent increase in the second year and a 50 percent increase in the third year. We want to increase Weekly Lesson prices by 10% each of the next two years while keeping expenditures constant.
Our earnings are mostly based on a 20% average food value for dine-in muffins and a 15% average food value for the factor of purchase products, carry-out, and weekly classes. For the next two years, we challenge a steady food value fraction of these quantities. The profitability of Strawberries and Crabs depends on keeping meal costs low as sales increase.
5.3 Milestones
Within the first year of operation, Strawberries and C are expected to be profitable. Our objective for the next three years is to reinvest in the company and expand to three locations. We want to form connections with each store’s chef as a result of this feature, comparable to Outback’s owner program. They will put money into their savings account and be rewarded for it right away.
6.0 Summary of Management
Within the first year of operation, Strawberries and C are expected to be profitable. Our objective for the next three years is to reinvest in the company and expand to three locations. We want to form connections with each store’s chef as a result of this feature, comparable to Outback’s owner program. They will put money into their savings account and be rewarded for it right away.
6.1 Personnel Strategy
Our Personnel Plan starts on the ground level, with the founders as the only workers. The chef and owner, Jolie and Tracey, will be the only dessert bar chef at first, as well as the safety supervisor and instructor for the weekly sessions. We are sufficiently prepared for the roles of chef and teacher since we are graduates of Queens University in Canada and have worked in three five-star restaurants. Furthermore, our degrees in Restaurant Management from Queens University, C-U educate us for the management aspects of the industry.
Strawberries and C wants to promote from within and provide managerial positions to the best employees. Our initial employment objective is four, with the aim of increasing to seven by the end of the first year, then by the second year, and twelve by the third year. We recognize that this is a rather aggressive hiring strategy, but we plan to hire culinary specialists who are familiar with the rigors of the restaurant industry. This hire entails
We will be able to operate with fewer, but more productive personnel and compensate them properly if we adopt this mentality. From there, we want to increase each employee’s responsibilities as a deterrent to employing additional workers. As a result, those who have worked hard to develop Strawberries and C as a top dessert business will profit. These people will be required as we expand our business and build more shops.
7.0 Plan your finances
Growing Strawberries and C into a corporation, rather than merely a dessert bar, is critical to our financial success. We’re searching for about R300,000 in startup money with the goal of eventually selling a connected network of dessert bars or forming our company as a gourmet franchise. We should continue to reinvest in the future of Strawberries and C using this ability.
7.1 Important Premises
The financial plan is based on a number of key assumptions, the majority of which are shown in the table below. The following are the important underlying assumptions:
We expect a moderately growing economy with no big downturns.
Of course, we presume that no unanticipated technological advancements would render items obsolete in the near future.
We expect that we will have adequate access to equity capital and finance to keep our financial strategy on track, as stated in the tables.
Profit and Loss Estimates
The increase in revenue from year to year is a critical assumption when calculating our P&L (Profit and Loss). Our projections are based on Finale Desserterie’s financial performance in Boston, Massachusetts. They reported a 50 percent increase in revenues in the second year of business, followed by a 30 percent increase the following year. We believe Strawberries and C will be able to meet, if not outperform, those sales, given that the National Restaurant Association’s analysis of the Bureau of Labor Statistics Consumer Expenditure Survey found that Durban Umhlanga residents spend the most money on restaurants each year.
It’s also critical that we maintain our meal costs at 20% and 15% for dine-in muffins and POP, carry-out, and weekly classes, respectively. This will ensure that our profit margin stays high.
Cash Flow Forecast
Our cash flow is based on income estimates since we are a quick-service company. It is critical to keep our food prices affordable. We also need to strike a balance between slow (non-holiday) months and busy (holiday) months like Christmas, Valentine’s Day, and Mother’s Day.
7.5 Balance Sheet Forecast
The balance sheet is in good shape. We don’t mind going to great lengths to pay our financial commitments as long as we can achieve our specific goals. We recognize we’ve set our sights high, but we’re convinced that the location we’ve picked for Strawberries and C, as well as the dessert bar concept itself, will be a huge hit.
We have not included any property or depreciation in our estimates for this component. Those figures will be determined at a later date depending on whether we acquire new or old kitchen equipment.
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