Restaurant Marketing Plan
Executive Summary
There is an abundance of choice in our world today, whether its options for taste, or its options for necessity, we are surrounded by decisions. What if there was a place that honored our choices, and facilitated choosing the best option. This vision is becoming a reality with the Fuel Stop Café; it isn’t just a café where you choose white or wheat, it’s a café where you choose which one serves you better. Fuel Stop Café is designed to meet the needs of its consumers, not only in their fitness endeavors, but also in their preference of taste. As we have seen the fitness world growing at an exponential rate, the food industry is eating its dust. It is time for a restaurant to rise to the occasion and power the lives of those that thrive for self-empowerment. Through times of a rocky economy the average consumer has put their boots on to overcome its obstacles, whether it’s been by cutting spending, or increasing saving, these commitments should be honored. Fuel Stop Café honors those who wish to live a healthy lifestyle without breaking the bank. Whether it be the mother of three on her trip to the soccer fields on a Saturday, or the crossfitter who needs to fuel his workout of the day, Fuel Stop Café has everyone covered. People should know what’s in their food; they should know what that food can do for them, and that is what sets our restaurant apart. Our locations are far from Las Vegas, so no gambling here, just real food, and real information, at affordable prices. Life is uncertain and often out of one’s control, but choice of food doesn’t have to be. At Fuel Stop Café we realize that no one person’s meal choice is the same; that is why our menu is designed for the consumer to pick and choose from a vast array of ingredients. Our staff is committed to providing exceptional service, not only in the quality of food we deliver, but also in their effectiveness at delivering true national information. We offer incentives for customers so as to honor their time spent as well as the feel in their pocket. Fuel Stop Café is teaming up with local gyms so as to decrease our customer’s costs, as well as empower them to maintain their active lifestyles. This restaurant will soon be a staple in the fitness industry, where one wouldn’t dream of fueling their life without making a stop at the Fuel Stop Café. Mimicking the ease of a stop n go style venue, customers can get in get out, and leave guilt free, knowing that they made a healthy, positive choice.
Historical Background
The food industry is a very large one with 980,000 locations and employing 13.1 million people in 2012. The industry includes restaurants, carryout options, cafeterias, school and college dining rooms, catering and vending companies, hotels and motels, and retirement centers. The food service industry is not only about serving food to customers, it can also provide for entertainment, group accommodation and other services. Overall the industry is focused on purchasing, preparing, and serving food, and many other ways they make sure the customer is happy.
The food service industry has its roots as far down as ancient Rome with the invention of dining halls included in what we might think of as a hotel. With increasing number of roads and travel, it increased the number of roadside inns that served food. These were in London by the 1500s.
The original restaurant is thought to have been pioneered in France in 1765. In Paris, a soup vendor decided to open his own shop that had a menu and people could choose which soup they wanted. It became larger when the French Revolution destroyed the aristocratic society. The kitchen staff was out of a job so they decided to open their own restaurants. This was very prosperous during the 18th and 19th century with more than 500 restaurants.
Cafeteria-style restaurants exploded during the 1849 gold rush in San Francisco. This gave gold miners the option to pay for their meal before they sat down to eat it.
By the 20th century, diners and the beginning of the fast food restaurant had opened, and were very popular. In 1955, the first McDonald’s opened, which is now the most extensive fast food restaurant in the world (“Restaurants and Food Services”).
HISTORY OF FOOD TRUCK SERVICES
It was the year of 1691 and mobile street venders were in existence in New York City. In that time these venders, who were referred to as “Hucksters” were unable to open business to the public each morning until after competing markets were open for at least two hours. Even though the hucksters had these regulations, they were out there trying to supply people with very fast food until 1707 when New York banned the mobile food cart industry completely, but that didn’t last for long. In the 1800s Street vendors were predominately from foreign dissent and used their street carts to cater to the poor. The street cart industry provided a way for poor people in a new country to make a living. In New York, When 1880 came around, street vending became a huge boom all the way into the 1920s. This, now large market business, was almost completely abolished again in the 1930s when The World’s fair was coming to New York and trying to ‘tidy up the streets’ was a main objective. Mobile food vending has had a longer history than some might think, and is going to stay for a while if it stays on its trajectory (Tester, 2038-2046).
Marketing Goals and Objectives
The major marketing goals of Fuel Stop Café is to penetrate the market in such a way that it paves its own road, arriving at a target market which has become somewhat numb to traditional advertising. The design of our brand is original and unique, just like its customers; therefore by year two we aspire to be a close competitor with the brands in our areas such as Chipotle Mexican Grille, and other pay and eat style restaurants. Furthermore, as organic food stores have greatly saturated the market, our objective is to reach those customers, and be an acceptable compliment to their style. We have looked at Nielsen.com’s “Restaurant Growth Index”, and based upon their report, we are confident that Orange County will deliver sufficient revenue. Nielsen reports that areas such as Los Angeles and Long Beach had annual sales of over 22 Billion. This number is somewhat arbitrary unless compared to percentage of income; in this number we can see that it was 6% of income. 6% is the basic average for the top ten restaurant cities in the state; therefore this should prove to be a high performing location. Our objective is to maintain a steady 10% growth rate in sales over the years. We believe 10% is realistic, and is definitely attainable. Furthermore, this number is based on our 5 year income statement, and should prove to hold true to our projections. Looking at recent trends in fitness and amount of activity in one’s day to day routine, Fuel Stop Café is designed to accommodate those needs, regardless of how often one exercises. Although our brand is designed to tailor the needs of fitness advocates, it does not exclude any one particular market. Although our target is for those living an active lifestyle, we aspire to be a brand that is accepted by all restaurant goers. According to Forbes, CrossFit has over 6,000 gyms worldwide, and is growing at a rather significant pace. Forbes also reports that CrossFit has cut its own culture, which revolves around carefully planned diets, and vigorous exercise. Although CrossFit is not our only target market, we do believe it will be one of our most promising. As stated earlier, there is a large market to tap into, according to the Consumer Electronics Association, over 55% of online users used fitness technology in the past year. Being that such a high number of the population is involved in some sort of fitness, we believe the possibilities are endless. Additionally CEA also reports that the top two reasons for one to workout are to either improve overall health (76%), or to lose weight (58%). Fuel Stop Café will advertise to all, yet focus primarily on the current culture of those living an active lifestyle. We recognize the opportunity to convert new customers into more health conscious, fitness minded individuals, and will dually advertise to them.
Marketing Analysis
National Restaurant Market Analysis
As a whole in the United States, the restaurant industry has been steadily growing. Even with the recession of 2007, which negatively affected almost all US sectors, restaurant businesses handled the economic downturn surprisingly well and are currently poised to grow even more rapidly in the next few years. Food expenditures away from home are on the rise compared to at home food which is bought and prepared. The share of food expenditures on food away from home is growing [Reference Figure 1-A]. In fact, in late 2004 this share overtook the at home food expenses and continued to surpass in the years following to present. This shows the growing trend of Americans deciding to go out buy food rather than prepare it themselves. These numbers show a positive future for new restaurants opening up.
These positive numbers point to an optimistic future outlook for this industry. Not only is this market trending more and more toward food away from home long-term, but also in the more recent post-recession years there has been a robust surge in restaurant food sales. Year over year, sales numbers have increased from 3.3% in 2010, to 5.9% in 2011, and then up 6.6% in 2012 [Reference Figure 2-A].
The industry as a whole is actually in a maturing stage, even though these numbers seem to express the industry as in the growing stage. These promising numbers represent growing subsectors within the larger mature restaurant industry as a whole. Many new restaurants are failing, while others are experiencing rapid success mostly due to accurately providing the consumers with what they demanding. Fuel Stop Café is banking on exactly that.
Health Food Megatrend Analysis
Within the larger full service restaurant industry one of the largest emerging subsectors is made up of businesses primarily focused on serving healthy foods. The American public is more concerned than ever before with choosing fit, lean, and clean food options. Much of this blossoming mega trend can be attributed to the greater awareness of the numerous health benefits that come with eating healthy and vice versa; all the negatives that come with junk foods. As a result, the consumer has been making their voice heard and businesses have been cashing in on this growing demand. Making healthy dietary choices is becoming more and more important to up and coming generations. According to The Market for Functional Foods Report by the NPD Group which is a leading source of recent and accurate market data, 47% of the millennial generation has made dietary changes in the past six months to improve healthfulness of diet. Gen X’ers follow with 46% and then the baby boomers trail to 44% [Reference Figure 3-A]. These statistics are important because they show that the growing health food subsector will continue to grow and be sustainable for the foreseeable future. Many businesses have already entered this rising market and competition has become very aggressive.
The National Restaurant Association placed specialty health food restaurants on its list of subsectors to watch and stated, “Health and wellness concepts will continue to grow, as consumers identify fresh with healthful. Plus, affluent consumers can afford to pay more for customized food made with fresh ingredients” (Restaurants.org). The key here is that consumers are demanding customized food options and are willing to pay for it. By tailoring a customized and categorized menu, as Fuel Stop Café has done, we are meeting that gap in the current market.
Increasing Gym Memberships Analysis
Fuel Stop Café uses gym membership at a key component of marketing. The goal is to have dedicated gym members come to our business after a workout to refill with functional food that is tailored to their exact needs. The market trend of the fitness center memberships is critical for the success of Fuel Stop Café. As our nation attempts to make health and fitness a priority, more people are becoming dedicated and purchasing memberships. This level of dedications is vital to our specific restaurant’s target market. In the past decade from 2000 to 2012, gym membership grew from 32.8 to 50.2 million members according to IHRSA [Reference Figure 4-A]. This steady growth (65.3% over 12 years) of members ensures that that the health and fitness megatrend will be sustainable in the long-term as well as profitable in the short-term. Since our target market consists mostly of hardcore dedicated fitness enthusiasts, increases in gym members correlates to a larger direct market for our business. People that work hard in the gym are looking for a post workout meal that is more satisfying that a protein shake or supplements and more nutritionally beneficial than fast food. This gym crowd is at the center of our target market and therefore the growth and success of local gym memberships is positive sign. According to a market research report published in February 2014 by IBIS World, “Health club memberships are anticipated to grow at an annualized rate of 6.1% during the [next] five-year period, due to more consumers valuing fitness as part of their health regimen” (Ibisworld.com). For these reasons combined, the general external market analysis is looking promising for Fuel Stop Café to be successful.
Local Market Analysis
Fuel Stop Café will be located in Irvine, California. For many reasons, the city of Irvine is an ideal central market for our new restaurant. To begin, Forbes ranked Irvine the third fastest growing city in the United States after the recession. Since 2007, the population had increased 16.3% (Forbes.com). This means a rapidly expanding market is emerging. Another reason why Irvine is a great fit for our business is because the vast majority of residents are younger and fit perfectly into our target market. According to the 2010 census, the median yearly household income of Irvine was $85,615 (Cityof Irvine.org). This is more than twice the nation median income. Wealthy people are much more likely to have the purchasing power to buy the premier foods that Fuel Stop Café serves. Irvine simply provides the perfect market for this restaurant to be successful. The competitive environment in Irvine regarding health food restaurants has already exploded. Many restaurants have opened in the last five years in order to profit off of this health food craze. Businesses such as Tender Greens, Salad Republic, California Fish Grill, Urban Plates, Veggie Grill, Gaufree, and Panini Cafe are just a few of the new competitors that have entered the healthy restaurant market. It is safe to say there are plenty of choices when trying to eat healthy.
Target Market Analysis
What makes Fuel Stop Café have the edge over the numerous other health food restaurants in the area is our ability to identify a specific target market that has not been reached effectively yet. People who go to the gym frequently are looking for functional foods that will supplement their workout. The NDP Group found that 75% of adults understand the importance of adding protein to their diet [Reference Figure 5-A]. Out of that 75%, it is noted that 19% see it as very important to add protein. Most of health food restaurants in the local area are focusing reducing calories in their menu items and on serving organic fruits and vegetables. However none of these competitors are truly focusing on delivering larger more filling portion sizes that supplement the hard work done in the gym. Most frequent gym members and bodybuilders tend to avoid these low calorie organic small portioned health shops but also realize that fast food alternative is not any better. Fuel Stop Café targets this neglected segment of the larger health food movement.
Our Restaurant aims to provide a more detailed categorized menu that divides food items depending on your specific fitness goals. Fuel Stop Café aims to target those who are serious about their health and want a meal that is actually filling. In a survey conducted by the NDP Group using the Healthy Eating Index (HEI) data, it was found that 23% of adults scored 70 or over on the index meaning they were dedicated healthy eaters [Reference Figure 6-A]. This 23% are the people that our business is primarily targeting. The individuals who are truly dedicated to healthy eating pose the greatest opportunity for a solid customer base. For all these reasons, we believe Fuel Stop Café will have the competitive edge over the rest of the health food restaurant industry.
Environmental Analysis – Local Business Environment
Supplier Prices
Reference Figure 7-A
Average wholesale price of chicken breast in 2012 = 93 cents per pound
Average retail price of chicken breast in 2012 = $1.33 per pound
Average wholesale price of beef in 2012 = $2.65 per pound
Average retail price of beef in 2012 = $5.25 per pound (nationalchickencouncil.org)
Potatoes-Russet 70ct = Organic $35.75 Non-Organic $14.00
Spinach 24ct = Organic $39.75 Non $13.00
Avocado-Hass 48ct = Organic $57.75 Non $39.00
Broccoli 14ct = Organic $30.75 Non $11.00
Lettuce Romaine 24ct = Organic $27.75 Non $11.00
Apples-Fuji 72ct = Organic $76.75 Non $40.00
Lemons 140ct = Organic $53.75 Non $35.00
Strawberries 8 packages each = Organic $30.75 Non $16.00
12 ounce package of green beans 25 packages = Organic $60.75 Non $26.00 (rodaleinstitute.org)
Wholesale cost of Organic Certified Extra Large Dozen Eggs = $2.90 (ers.usda.gov)
Wholesale organic rolled oats 25 pound case = $2.39 a pound http://www.nuts.com/cookingbaking/grains/oats/wholesale.html Political and Legal Aspects
Tax identification number: Restaurant owners must register with the state of California and the federal government for a Federal Employer Identification Number.
A Federal Tax ID Number or Employer Identification Number (EIN) is a nine-digit number issued by the Internal Revenue Service (IRS) to businesses and organizations. If your business needs an EIN, you can get one from the IRS for free (apply-gov.us).
Trademark brand: We must trademark our brand name to avoid legal headaches in the future.
$275 per class for a TEAS Plus application that meets the requirements of 37 C.F.R. §§2.22 and 2.23 Restaurant is class 04, Onetime cost (uspto.gov).
Business address: California law requires that all businesses have a location, so we must obtain a non P.O. Box business address.
Business license: Any person who conducts business within a city or county, whether or not the physical business address is located within that area, must obtain a business license
Irvine business license tax is fixed at $51 annually, no cost for license.
Mobile Food Facility (Food Truck) Permit: may contain restrictions on locations and hours of operation, packaging, lighting, and hazardous waste disposal.
No cost for food truck permits in OC, time and effort are all that’s needed (ocfoodinfo.com).
Health Permit: This permit is for the sale of edible goods, and the costs and rules vary by county. We must obtain a separate health permit for each county in which we plan to operate.
No Cost (ocgov.com)
Food Safety Certification: Under California law, each food facility must have at least one employee/owner who has passed a state-approved Food Safety Certification exam. A certification is valid for five years.
No Cost (ocgov.com)
Food Handler permit: Any employee who handles food must obtain a permit to do so. A “food handler” is someone who works in a facility with food and involved in the preparation, storage, or serving of food.
Obtain insurance: business property, general liability and workers’ compensation, vehicle.
Property Insurance (varies by size of building, property type, etc.) General Liability Insurance (varies by size and need of company) Automobile liability for food truck, Workers Compensation; Unemployment Insurance (varies by size and need of the company)
Irvine (our first city of operation) has an 8% tax rate.
Planning and Zoning counter: a vital service provided by the city of Irvine to help new businesses with zoning and expansion in the city of Irvine (949) 724-6308.
Demographics
Reference Figure 8-A
Orange County Statistics:
Population of Orange County: 3,114,363
Caucasian population: 43.1%
Latino population: 34.1%
Percent of adults in Orange County over 25 with a bachelor’s degree: 36.6%
Per capita money income in past 12 months (2012 dollars): $34,233
Irvine Statistics:
Population: 229,985
Asian Population in Irvine 39.2%
Caucasian population: 45.1%
Bachelor’s degree or higher age 25+: 65.7%
Per capita money income in past 12 months (2012 dollars): $43,271 (quickfacts.census.gov)
Gym membership in America: 42.8 million by 2011 (prweb.com).
Tax identification number:
A Federal Tax ID Number or Employer Identification Number (EIN) is a nine-digit number issued by the Internal Revenue Service (IRS) to businesses and organizations. If your business needs an EIN, you can get one from the IRS for free.
Trademark brand:
$275 per class for a TEAS Plus application that meets the requirements of 37 C.F.R. §§2.22 and 2.23 Restaurant is class 04, Onetime cost.
Business license:
Irvine business license tax is fixed at $51 annually, no cost for license.
Mobile Food Facility (Food Truck) Permit:
No cost for food truck permits in OC, time and effort are all that is needed.
Health Permit:
No Cost
Food Safety Certification:
No Cost
Food Handler permits:
$15 per employee
Obtain insurance:
Property Insurance (varies by size of building, property type, etc.) General Liability Insurance (varies by size and need of company) Automobile liability for food truck, Workers Compensation; Unemployment Insurance (varies by size and need of the company)
Consumer Analysis
Target Market:
Health conscious residents in and around Irvine (Orange County area)
Active gym members, clean eaters, body building competitors
Fuel Stop Café vs. Competitors:
Vibrant and motivational atmosphere
An impressive personalized made-to-order menu
Wide variety of options for breakfast, lunch, and dinner
Protein shakes as meal replacement options
Pre/post gym meal options for every type of workout and fitness goal
Expectations of Consumers:
Clean eating and healthy meal options prepared organically using premium ingredients
Menu specialization that allows the wide array of consumers to find the perfect meal that best suits their goals whether it be bulking up, weight loss, or toning
Cook-to-order service that ensures your meals are completely personalized and cater to your every fitness-food need
Consumers can expect a knowledgeable staff who can assist them with any health/fitness questions they may have
Food is always fresh, organic, and made with integrity (ex. using only natural sea salt in cooking)
An atmosphere that is vibrant and motivational to keep clients excited and focused on their goals
Breakfast-Lunch-Dinner options
Pre/ Post gym workout meal replacements- smoothies and protein shakes
Somewhat higher prices in order to attract serious and dedicated customers who are determined to reach their fitness goals
Healthy food that tastes great
Employees who invest in and truly care about the consumers goals and routines
To be the rare healthy alternative in a widely fast food oriented world
Market Segment:
Individuals looking to build muscle, lose fat, and tone up
People looking for organic, heart healthy, and delicious food
Organic, gluten free, vegan, and vegetarian options for those who are not provided such options at other restaurants
Fitness buffs and people determined to live all around healthy lives
Individuals who care about the integrity of the food they consume
Sales Potential for future target markets:
Core target market- Health conscious individuals, active gym members, body builders
Other markets- A long-term goal would be to attract consumers who do not necessarily strive to maintain an entirely healthy lifestyle, but by the reviews and buzz happening through committed and pleased customers, become a part of our potential sales.
Through these word of mouth and local advertising techniques, we would hope to become a regular household name that people choose to give their service to because of the great food first and foremost, and with the result of encouraging and spreading the healthy lifestyle.
Marketing Focuses (4Ps)
Product
The entirety of the business is based upon on our product, as it is the make or break point. It will either draw customers in, or far away until we are only an afterthought. That is why Fuel Stop Café’s product must be topnotch and made with integrity as its foundation. We live in a society that is rapidly growing more health conscious as studies of food importance become more known. There is a growing market place for healthy meals that are tailored to the customer’s individual needs. So what makes Fuel Stop Café Different from other health conscious and customized restaurants? Herein lies the beauty of this venue, it is in the finite precision of the customization. Patrons don’t just order from a menu with a novice guess as to how much protein is in their meal, rather specific listings of the exact amount of protein. Not captivated yet? Show me another restaurant which wields more information readily available to the consumer regarding actual breakdowns of carbohydrates, vitamins, and minerals essential to an individual’s fitness needs. Most restaurants do in fact have calorie amounts, as it is the law, but where are the calories coming from? Typically caloric values are the most nutritional information provided. Customer’s will trust our brand because it empowers them to build meals that are within their actual needs, based off of real time, up to date information, rather than a simple inference based on how the product looks. Whether they are looking for a protein induced meal to help gain muscle or an organic meal to keep pollutants out of their bodies, Fuel Stop Café will meet their needs.
Price
We must take into account the price of ingredients and organic, gluten-free products as we must maintain a profit margin percentage per meal sold. The brand is not yet widely recognized; therefore pricing should be competitive yet acceptable. The pricing will be concurrent with the status quo so as to not be intrusive, yet still acceptable. Price tells much about a business, whether it be lower dollar value brands, or higher prices for luxury brands, Fuel Stop Café will be strategically priced to match its product.
Location
In order for Fuel Stop Café to create a business model that is successful with above margin profits, we must focus on location when our product and price is ready for the marketplace. There needs to be a balance between store location and monthly leasing price to ensure rent is affordable, yet the location is easily accessible for our target market; in short, living within our means. Since our customers are health conscious and looking for quick alternatives to unhealthy meals, but with enough nutrients to meet their needs, Fuel Stop Café will focus on leasing a business building that has the most amount of gyms and fitness centers within five mile radius. This will strategically place our business in a market that covers the most customers within our demographic which will help seek the volume necessary to stay afloat.
Figure 9-A & Figure 10-A gives a general idea of Fuel Stop Café’s tentative location based on amounts of fitness centers per five mile radius. We will also rely on a location near other businesses in hopes that “window” traffic will account for 15% of monthly sales. The price of meals will cost the customer a little more because of the steep price of organic foods so we must keep in mind that our target demographic is above the average household medium. It is imperative that we maintain cognizance of this when pinpointing locations because leasing a trendy business front in a rundown neighborhood will not tailor to our customers’ needs or our business model.
Promotion
We will offer all gym members a special rate of meals. This will give fitness centers a way to give more value to their customers and a way for us to do cross-promotional discounts. In order to ensure an effective promotion strategy, there must be major emphasis on differentiation. Promotions such as Protein Shaker Sunday’s and Free Shirt Fridays, will give consumer’s better reason to come in to our venue. Also, as most gym goers live a rather busy on the go lifestyle, we will have delicious workout shakes, once again designed to promote consumer involvement and customization. This facet will not only give patrons a reason to come in before their workout, but it also satisfies their need for a nourishing post workout shake. This design boosts us far above the competitor because we are receiving nearly twice the revenue for half the visits. Fitness has become not only an activity but a lifestyle, and as a brand we must be in tune to this aspect. Major events such as CrossFit competitions, mud runs, and body building tournaments will be littered with banners, flyers, and walking billboards. The walking billboards will be our valued customers sporting our hip new t-shirts which will be designed in eye catching advertisement schemes. Additionally, our friendly staff will get to know frequent customers, and as we build relationships we will sponsor the more elite athletes in hopes that they will better promote our business. Yelp has become a growing review website for established and growing businesses
Financial Information
Our company expects to lose money in the first year. People will have to get to know our restaurant and learn what we provide. Once our name is more known and matched up with what we provide then we will begin to make money.
We are located in Irvine and very close to Santa Ana and Costa Mesa. These populations are 229,985; 330,920 and 111,918 (Google Public Data). As stated in our Health Food Megatrend Analysis section, 44% of people have changed their diet to eat healthier. We took these numbers added all three populations together and multiplied it by 44%. This told us that 296,042 people in these cities are in our market and are who we want to target. Once we reached this number we made an estimation of what our high, medium, and low market share would be. For a high market share we used 75% of the 296,042 and came up with 222,031.59. The medium was 50% and came out to 148,021.06. For the low we used 25% and came up with 74,010.53. After seeing our high, medium, and low we started to work on our sales.
For our sales we took the average price of our food and then of our drinks. We then said that we plan to have more than our low market share come in. We decided that because we will have to be getting our name heard and word of mouth going that 32% of our market will come in. 32% of our market is 94733.48. We then stated that these people would all have at least one plate and one drink. Our sales came out to be $956,808.15 in food and $562,085.31 in beverages. These are good numbers for our first year. We do lose money as we expected to. Our expenses can be seen on our table on pages 22-26. After calculating our expenses and our sales we end up in the negative $213,942.05.
We then estimated the next 4 years. For the second year we estimated that 10% more customers would hear about us and come in. we end up profiting $682,633.42. This allows us to pay back at least half of each loan, $450,000 each that we plan on taking out. This leaves us with $232,633.42. Now this number may be a little smaller depending on the banks interest on the loans. In the third year we plan on hitting our medium market share, which is 50%. We make a profit and are able to pay back the last of loans. You can see our profit and expenses in table…. Our Fourth year is when our restaurant will start to take off. We will be serving a little more than our medium market share of an estimation of 56%. This will be the year that we make our biggest profit because we will not owe the banks money. Our profit estimation for year four is $1,252,572.15. We do the same thing for our fifth year with a few added expenses, chef and managers get raises (p.22-26) and estimating that we are going to hit 60% of the market share our profit is $1,385,623.40. After the fifth year we can start to give money back to ourselves and to our investors wisely.
Our breakeven point is $2,127,035.51 for our startup cost. There are seven of us that are going to be putting in $50,000 each. This will make us able to only need to take out two loans of $450,000 to start up our restaurant.
The startup cost for our restaurant is $1,227,035.51. The startup cost is higher than most restaurants because we are also starting up our food truck. Now because the cost is so high we are going to have to pull out loans to be able to successfully start the company. This is a weakness for us because that is money that we will have to pay back and with interest. There are seven of us that are starting the restaurant and that helps us with the loans because the banks have more people to pin the loan on. Also it helps us because we have more credit scores to use as well. The way we plan to reduce this weakness is by doing research one our loans. We do not plan on taking the first one thrown at us. We are going to figure out which loan gives us the lowest interest and is less of a rick for us to take.
Tables, Graphs, Diagrams, and Pictures
Figure 1-A
Figure 2-A
Figure 3-A
Figure 4-A
Figure 5-A
Figure 6-A
Figure 7-A
Figure 8-A
Figure 9-A
Figure 10-A
Strengths, Weaknesses, Opportunities, Threats (SWOT Analysis)
Financial Information: 5 Year Income Statement
Sales Food Sales $956,808.15
Beverage Sales $562,085.31
Total Sales $1,013,093.46
Cost of sales Food Cost (687,864.51)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) ($34,950)
Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
Equipment ($15,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Total Expenses 1,227,035.51
Profit (213,942.05)
Year 1
Sales Food Sales $1,255,810.16
Beverage Sales $737,695.22
Total Sales $1,993,505.38
Cost of sales Food Cost (756,650.96)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
Equipment ($15,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Loans Bank 1 ($225,000)
Bank 2 ($225,000)
Total Expenses ($1,760,871.96)
Profit $232633.42
Year 2
Sales Food Sales $1,485,012.71
Beverage Sales $877,764.89
Total Sales $2,362,777.60
Cost of sales Food Cost (817,183.04)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
2 year city licenses ($1,000)
Equipment ($15,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Loans Bank 1 ($225,000)
Bank 2 ($225,000)
Total Expenses (1,820,404.04)
Profit $540,373.56
Year 3
Sales Food Sales $1,674,413.55
Beverage Sales $983,593.62
Total Sales $2,658,007.17
Cost of sales Food Cost ($866,214.02)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
Equipment ($2,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Total Expenses ($1,405,435.02)
Profit $1,252,572.15
Year 4
Sales Food Sales $1,794,015.25
Beverage Sales $1,053,317.85
Total Sales $2,847,865.98
Cost of sales Food Cost ($900,862.58)
Payroll Cooks ($60,000)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($54,080)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
2 year city licenses ($1,000)
Equipment ($2,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Total Expenses (1,462,242.58)
Profit $1,385,623.40
Year 5
References
"City of Irvine Website - Demographics Information." City of Irvine Website - Demographics
Information. N.p., n.d. Web. 13 Apr. 2014.
<http://www.cityofirvine.org/about/demographics.asp>
"Farm." Rodale Institute. N.p., n.d. Web. 14 Apr. 2014.
<http://rodaleinstitute.org/farm/organic-price-report-tool/>
"Fast Casual Sub-segments to Watch." National Restaurant Association. N.p., 15 Oct. 2012.
Web. 02 May 2014.
<http://www.restaurant.org/News-Research/News/Fast-casual-sub-segments-to-watch>
"Federal Tax ID / EIN Application." Federal Tax ID / EIN Application. N.p., n.d. Web. 12 Apr.
2014. <https://www.apply-gov.us/tax-id/?gclid=CNH2p_7L370CFcyTfgodsXMASw>
"Gym, Health & Fitness Clubs in the US: Market Research Report." Gym, Health & Fitness
Clubs in the US Market Research. N.p., Feb. 2014. Web. 14 Apr. 2014.
<http://www.ibisworld.com/industry/default.aspx?indid=1655&partnerid=prweb>
"Gym, Health & Fitness Clubs Market Research Report Now Available from IBISWorld."
PRWeb. N.p., 20 Oct. 2012. Web. 6 Apr. 2014.
<http://www.prweb.com/releases/2011/10/prweb8894650.htm>
Kidera, Stephen. "One-Third of U.S. Consumers Plan to Purchase Fitness Technologies in 2013, According to CEA - CEA." One-Third of U.S. Consumers Plan to Purchase Fitness
Technologies in 2013, According to CEA - CEA. N.p., 05 Dec. 2012. Web. 14 Apr. 2014.
<https://www.ce.org/News/News-Releases/Press-Releases/2012-Press-Releases/One-Third-of-U-S-Consumers-Plan-to-Purchase-Fitne.aspx>
Kotkin, Joel. "America 's Fastest-Growing Cities Since The Recession." Forbes. Forbes
Magazine, 18 June 2013. Web. 14 Apr. 2014.
<http://www.forbes.com/sites/joelkotkin/2013/06/18/americas-fastest-growing-cities-since-the-recession/>
"Orange County QuickFacts from the US Census Bureau." Orange County QuickFacts from the
US Census Bureau. N.p., n.d. Web. 8 Apr. 2014.
<http://quickfacts.census.gov/qfd/states/06/06059.html>
Tao, David. "How CrossFit Embraced Fans And Built The Next Great Spectator Sport." Forbes.
Forbes Magazine, 02 June 2013. Web. 14 Apr. 2014.
<http://www.forbes.com/sites/davidtao/2013/06/02/how-crossfit-embraced-fans-and-became-the-next-great-spectator-sport/>
"Trademark Process." Trademark Process. N.p., n.d. Web. 12 Apr. 2014.
<http://www.uspto.gov/trademarks/process/index.jsp>
"USDA ERS - Organic Prices." USDA ERS - Organic Prices. N.p., n.d. Web. 14 Apr. 2014.
<http://www.ers.usda.gov/data-products/organic-prices.aspx#44268>
"Wholesale and Retail Prices for Chicken, Beef, and Pork - The National Chicken Council." The
National Chicken Council. N.p., 15 Mar. 2012. Web. 14 Apr. 2014.
<http://www.nationalchickencouncil.org/about-the-industry/statistics/wholesale-and-retail-prices-for-chicken-beef-and-pork/>
"Wholesale Oats." - Wholesale Grains. N.p., n.d. Web. 16 Apr. 2014.
<http://www.nuts.com/cookingbaking/grains/oats/wholesale.html>
"Retail Food Overview." Orange County, California -. N.p., n.d. Web. 6 Apr. 2014.
<http://ocgov.com/gov/health/eh/food/retail/retail.asp>
<http://ocfoodinfo.com/civicax/filebank/>
<http://ocgov.com/civicax/filebank/>
<http://www.uspto.gov/trademarks/process/index.jsp>
<www.google.com/publicdata/explore>
<http://www.nielsen.com/content/dam/corporate/us/en/public%20factsheets/restaurant-growth-index.pdf>
References: Clubs in the US Market Research. N.p., Feb. 2014. Web. 14 Apr. 2014. PRWeb. N.p., 20 Oct. 2012. Web. 6 Apr. 2014. <http://www.prweb.com/releases/2011/10/prweb8894650.htm> Technologies in 2013, According to CEA - CEA. N.p., 05 Dec. 2012. Web. 14 Apr. 2014. Magazine, 18 June 2013. Web. 14 Apr. 2014. US Census Bureau. N.p., n.d. Web. 8 Apr. 2014. Forbes Magazine, 02 June 2013. Web. 14 Apr. 2014. National Chicken Council. N.p., 15 Mar. 2012. Web. 14 Apr. 2014.
There is an abundance of choice in our world today, whether its options for taste, or its options for necessity, we are surrounded by decisions. What if there was a place that honored our choices, and facilitated choosing the best option. This vision is becoming a reality with the Fuel Stop Café; it isn’t just a café where you choose white or wheat, it’s a café where you choose which one serves you better. Fuel Stop Café is designed to meet the needs of its consumers, not only in their fitness endeavors, but also in their preference of taste. As we have seen the fitness world growing at an exponential rate, the food industry is eating its dust. It is time for a restaurant to rise to the occasion and power the lives of those that thrive for self-empowerment. Through times of a rocky economy the average consumer has put their boots on to overcome its obstacles, whether it’s been by cutting spending, or increasing saving, these commitments should be honored. Fuel Stop Café honors those who wish to live a healthy lifestyle without breaking the bank. Whether it be the mother of three on her trip to the soccer fields on a Saturday, or the crossfitter who needs to fuel his workout of the day, Fuel Stop Café has everyone covered. People should know what’s in their food; they should know what that food can do for them, and that is what sets our restaurant apart. Our locations are far from Las Vegas, so no gambling here, just real food, and real information, at affordable prices. Life is uncertain and often out of one’s control, but choice of food doesn’t have to be. At Fuel Stop Café we realize that no one person’s meal choice is the same; that is why our menu is designed for the consumer to pick and choose from a vast array of ingredients. Our staff is committed to providing exceptional service, not only in the quality of food we deliver, but also in their effectiveness at delivering true national information. We offer incentives for customers so as to honor their time spent as well as the feel in their pocket. Fuel Stop Café is teaming up with local gyms so as to decrease our customer’s costs, as well as empower them to maintain their active lifestyles. This restaurant will soon be a staple in the fitness industry, where one wouldn’t dream of fueling their life without making a stop at the Fuel Stop Café. Mimicking the ease of a stop n go style venue, customers can get in get out, and leave guilt free, knowing that they made a healthy, positive choice.
Historical Background
The food industry is a very large one with 980,000 locations and employing 13.1 million people in 2012. The industry includes restaurants, carryout options, cafeterias, school and college dining rooms, catering and vending companies, hotels and motels, and retirement centers. The food service industry is not only about serving food to customers, it can also provide for entertainment, group accommodation and other services. Overall the industry is focused on purchasing, preparing, and serving food, and many other ways they make sure the customer is happy.
The food service industry has its roots as far down as ancient Rome with the invention of dining halls included in what we might think of as a hotel. With increasing number of roads and travel, it increased the number of roadside inns that served food. These were in London by the 1500s.
The original restaurant is thought to have been pioneered in France in 1765. In Paris, a soup vendor decided to open his own shop that had a menu and people could choose which soup they wanted. It became larger when the French Revolution destroyed the aristocratic society. The kitchen staff was out of a job so they decided to open their own restaurants. This was very prosperous during the 18th and 19th century with more than 500 restaurants.
Cafeteria-style restaurants exploded during the 1849 gold rush in San Francisco. This gave gold miners the option to pay for their meal before they sat down to eat it.
By the 20th century, diners and the beginning of the fast food restaurant had opened, and were very popular. In 1955, the first McDonald’s opened, which is now the most extensive fast food restaurant in the world (“Restaurants and Food Services”).
HISTORY OF FOOD TRUCK SERVICES
It was the year of 1691 and mobile street venders were in existence in New York City. In that time these venders, who were referred to as “Hucksters” were unable to open business to the public each morning until after competing markets were open for at least two hours. Even though the hucksters had these regulations, they were out there trying to supply people with very fast food until 1707 when New York banned the mobile food cart industry completely, but that didn’t last for long. In the 1800s Street vendors were predominately from foreign dissent and used their street carts to cater to the poor. The street cart industry provided a way for poor people in a new country to make a living. In New York, When 1880 came around, street vending became a huge boom all the way into the 1920s. This, now large market business, was almost completely abolished again in the 1930s when The World’s fair was coming to New York and trying to ‘tidy up the streets’ was a main objective. Mobile food vending has had a longer history than some might think, and is going to stay for a while if it stays on its trajectory (Tester, 2038-2046).
Marketing Goals and Objectives
The major marketing goals of Fuel Stop Café is to penetrate the market in such a way that it paves its own road, arriving at a target market which has become somewhat numb to traditional advertising. The design of our brand is original and unique, just like its customers; therefore by year two we aspire to be a close competitor with the brands in our areas such as Chipotle Mexican Grille, and other pay and eat style restaurants. Furthermore, as organic food stores have greatly saturated the market, our objective is to reach those customers, and be an acceptable compliment to their style. We have looked at Nielsen.com’s “Restaurant Growth Index”, and based upon their report, we are confident that Orange County will deliver sufficient revenue. Nielsen reports that areas such as Los Angeles and Long Beach had annual sales of over 22 Billion. This number is somewhat arbitrary unless compared to percentage of income; in this number we can see that it was 6% of income. 6% is the basic average for the top ten restaurant cities in the state; therefore this should prove to be a high performing location. Our objective is to maintain a steady 10% growth rate in sales over the years. We believe 10% is realistic, and is definitely attainable. Furthermore, this number is based on our 5 year income statement, and should prove to hold true to our projections. Looking at recent trends in fitness and amount of activity in one’s day to day routine, Fuel Stop Café is designed to accommodate those needs, regardless of how often one exercises. Although our brand is designed to tailor the needs of fitness advocates, it does not exclude any one particular market. Although our target is for those living an active lifestyle, we aspire to be a brand that is accepted by all restaurant goers. According to Forbes, CrossFit has over 6,000 gyms worldwide, and is growing at a rather significant pace. Forbes also reports that CrossFit has cut its own culture, which revolves around carefully planned diets, and vigorous exercise. Although CrossFit is not our only target market, we do believe it will be one of our most promising. As stated earlier, there is a large market to tap into, according to the Consumer Electronics Association, over 55% of online users used fitness technology in the past year. Being that such a high number of the population is involved in some sort of fitness, we believe the possibilities are endless. Additionally CEA also reports that the top two reasons for one to workout are to either improve overall health (76%), or to lose weight (58%). Fuel Stop Café will advertise to all, yet focus primarily on the current culture of those living an active lifestyle. We recognize the opportunity to convert new customers into more health conscious, fitness minded individuals, and will dually advertise to them.
Marketing Analysis
National Restaurant Market Analysis
As a whole in the United States, the restaurant industry has been steadily growing. Even with the recession of 2007, which negatively affected almost all US sectors, restaurant businesses handled the economic downturn surprisingly well and are currently poised to grow even more rapidly in the next few years. Food expenditures away from home are on the rise compared to at home food which is bought and prepared. The share of food expenditures on food away from home is growing [Reference Figure 1-A]. In fact, in late 2004 this share overtook the at home food expenses and continued to surpass in the years following to present. This shows the growing trend of Americans deciding to go out buy food rather than prepare it themselves. These numbers show a positive future for new restaurants opening up.
These positive numbers point to an optimistic future outlook for this industry. Not only is this market trending more and more toward food away from home long-term, but also in the more recent post-recession years there has been a robust surge in restaurant food sales. Year over year, sales numbers have increased from 3.3% in 2010, to 5.9% in 2011, and then up 6.6% in 2012 [Reference Figure 2-A].
The industry as a whole is actually in a maturing stage, even though these numbers seem to express the industry as in the growing stage. These promising numbers represent growing subsectors within the larger mature restaurant industry as a whole. Many new restaurants are failing, while others are experiencing rapid success mostly due to accurately providing the consumers with what they demanding. Fuel Stop Café is banking on exactly that.
Health Food Megatrend Analysis
Within the larger full service restaurant industry one of the largest emerging subsectors is made up of businesses primarily focused on serving healthy foods. The American public is more concerned than ever before with choosing fit, lean, and clean food options. Much of this blossoming mega trend can be attributed to the greater awareness of the numerous health benefits that come with eating healthy and vice versa; all the negatives that come with junk foods. As a result, the consumer has been making their voice heard and businesses have been cashing in on this growing demand. Making healthy dietary choices is becoming more and more important to up and coming generations. According to The Market for Functional Foods Report by the NPD Group which is a leading source of recent and accurate market data, 47% of the millennial generation has made dietary changes in the past six months to improve healthfulness of diet. Gen X’ers follow with 46% and then the baby boomers trail to 44% [Reference Figure 3-A]. These statistics are important because they show that the growing health food subsector will continue to grow and be sustainable for the foreseeable future. Many businesses have already entered this rising market and competition has become very aggressive.
The National Restaurant Association placed specialty health food restaurants on its list of subsectors to watch and stated, “Health and wellness concepts will continue to grow, as consumers identify fresh with healthful. Plus, affluent consumers can afford to pay more for customized food made with fresh ingredients” (Restaurants.org). The key here is that consumers are demanding customized food options and are willing to pay for it. By tailoring a customized and categorized menu, as Fuel Stop Café has done, we are meeting that gap in the current market.
Increasing Gym Memberships Analysis
Fuel Stop Café uses gym membership at a key component of marketing. The goal is to have dedicated gym members come to our business after a workout to refill with functional food that is tailored to their exact needs. The market trend of the fitness center memberships is critical for the success of Fuel Stop Café. As our nation attempts to make health and fitness a priority, more people are becoming dedicated and purchasing memberships. This level of dedications is vital to our specific restaurant’s target market. In the past decade from 2000 to 2012, gym membership grew from 32.8 to 50.2 million members according to IHRSA [Reference Figure 4-A]. This steady growth (65.3% over 12 years) of members ensures that that the health and fitness megatrend will be sustainable in the long-term as well as profitable in the short-term. Since our target market consists mostly of hardcore dedicated fitness enthusiasts, increases in gym members correlates to a larger direct market for our business. People that work hard in the gym are looking for a post workout meal that is more satisfying that a protein shake or supplements and more nutritionally beneficial than fast food. This gym crowd is at the center of our target market and therefore the growth and success of local gym memberships is positive sign. According to a market research report published in February 2014 by IBIS World, “Health club memberships are anticipated to grow at an annualized rate of 6.1% during the [next] five-year period, due to more consumers valuing fitness as part of their health regimen” (Ibisworld.com). For these reasons combined, the general external market analysis is looking promising for Fuel Stop Café to be successful.
Local Market Analysis
Fuel Stop Café will be located in Irvine, California. For many reasons, the city of Irvine is an ideal central market for our new restaurant. To begin, Forbes ranked Irvine the third fastest growing city in the United States after the recession. Since 2007, the population had increased 16.3% (Forbes.com). This means a rapidly expanding market is emerging. Another reason why Irvine is a great fit for our business is because the vast majority of residents are younger and fit perfectly into our target market. According to the 2010 census, the median yearly household income of Irvine was $85,615 (Cityof Irvine.org). This is more than twice the nation median income. Wealthy people are much more likely to have the purchasing power to buy the premier foods that Fuel Stop Café serves. Irvine simply provides the perfect market for this restaurant to be successful. The competitive environment in Irvine regarding health food restaurants has already exploded. Many restaurants have opened in the last five years in order to profit off of this health food craze. Businesses such as Tender Greens, Salad Republic, California Fish Grill, Urban Plates, Veggie Grill, Gaufree, and Panini Cafe are just a few of the new competitors that have entered the healthy restaurant market. It is safe to say there are plenty of choices when trying to eat healthy.
Target Market Analysis
What makes Fuel Stop Café have the edge over the numerous other health food restaurants in the area is our ability to identify a specific target market that has not been reached effectively yet. People who go to the gym frequently are looking for functional foods that will supplement their workout. The NDP Group found that 75% of adults understand the importance of adding protein to their diet [Reference Figure 5-A]. Out of that 75%, it is noted that 19% see it as very important to add protein. Most of health food restaurants in the local area are focusing reducing calories in their menu items and on serving organic fruits and vegetables. However none of these competitors are truly focusing on delivering larger more filling portion sizes that supplement the hard work done in the gym. Most frequent gym members and bodybuilders tend to avoid these low calorie organic small portioned health shops but also realize that fast food alternative is not any better. Fuel Stop Café targets this neglected segment of the larger health food movement.
Our Restaurant aims to provide a more detailed categorized menu that divides food items depending on your specific fitness goals. Fuel Stop Café aims to target those who are serious about their health and want a meal that is actually filling. In a survey conducted by the NDP Group using the Healthy Eating Index (HEI) data, it was found that 23% of adults scored 70 or over on the index meaning they were dedicated healthy eaters [Reference Figure 6-A]. This 23% are the people that our business is primarily targeting. The individuals who are truly dedicated to healthy eating pose the greatest opportunity for a solid customer base. For all these reasons, we believe Fuel Stop Café will have the competitive edge over the rest of the health food restaurant industry.
Environmental Analysis – Local Business Environment
Supplier Prices
Reference Figure 7-A
Average wholesale price of chicken breast in 2012 = 93 cents per pound
Average retail price of chicken breast in 2012 = $1.33 per pound
Average wholesale price of beef in 2012 = $2.65 per pound
Average retail price of beef in 2012 = $5.25 per pound (nationalchickencouncil.org)
Potatoes-Russet 70ct = Organic $35.75 Non-Organic $14.00
Spinach 24ct = Organic $39.75 Non $13.00
Avocado-Hass 48ct = Organic $57.75 Non $39.00
Broccoli 14ct = Organic $30.75 Non $11.00
Lettuce Romaine 24ct = Organic $27.75 Non $11.00
Apples-Fuji 72ct = Organic $76.75 Non $40.00
Lemons 140ct = Organic $53.75 Non $35.00
Strawberries 8 packages each = Organic $30.75 Non $16.00
12 ounce package of green beans 25 packages = Organic $60.75 Non $26.00 (rodaleinstitute.org)
Wholesale cost of Organic Certified Extra Large Dozen Eggs = $2.90 (ers.usda.gov)
Wholesale organic rolled oats 25 pound case = $2.39 a pound http://www.nuts.com/cookingbaking/grains/oats/wholesale.html Political and Legal Aspects
Tax identification number: Restaurant owners must register with the state of California and the federal government for a Federal Employer Identification Number.
A Federal Tax ID Number or Employer Identification Number (EIN) is a nine-digit number issued by the Internal Revenue Service (IRS) to businesses and organizations. If your business needs an EIN, you can get one from the IRS for free (apply-gov.us).
Trademark brand: We must trademark our brand name to avoid legal headaches in the future.
$275 per class for a TEAS Plus application that meets the requirements of 37 C.F.R. §§2.22 and 2.23 Restaurant is class 04, Onetime cost (uspto.gov).
Business address: California law requires that all businesses have a location, so we must obtain a non P.O. Box business address.
Business license: Any person who conducts business within a city or county, whether or not the physical business address is located within that area, must obtain a business license
Irvine business license tax is fixed at $51 annually, no cost for license.
Mobile Food Facility (Food Truck) Permit: may contain restrictions on locations and hours of operation, packaging, lighting, and hazardous waste disposal.
No cost for food truck permits in OC, time and effort are all that’s needed (ocfoodinfo.com).
Health Permit: This permit is for the sale of edible goods, and the costs and rules vary by county. We must obtain a separate health permit for each county in which we plan to operate.
No Cost (ocgov.com)
Food Safety Certification: Under California law, each food facility must have at least one employee/owner who has passed a state-approved Food Safety Certification exam. A certification is valid for five years.
No Cost (ocgov.com)
Food Handler permit: Any employee who handles food must obtain a permit to do so. A “food handler” is someone who works in a facility with food and involved in the preparation, storage, or serving of food.
Obtain insurance: business property, general liability and workers’ compensation, vehicle.
Property Insurance (varies by size of building, property type, etc.) General Liability Insurance (varies by size and need of company) Automobile liability for food truck, Workers Compensation; Unemployment Insurance (varies by size and need of the company)
Irvine (our first city of operation) has an 8% tax rate.
Planning and Zoning counter: a vital service provided by the city of Irvine to help new businesses with zoning and expansion in the city of Irvine (949) 724-6308.
Demographics
Reference Figure 8-A
Orange County Statistics:
Population of Orange County: 3,114,363
Caucasian population: 43.1%
Latino population: 34.1%
Percent of adults in Orange County over 25 with a bachelor’s degree: 36.6%
Per capita money income in past 12 months (2012 dollars): $34,233
Irvine Statistics:
Population: 229,985
Asian Population in Irvine 39.2%
Caucasian population: 45.1%
Bachelor’s degree or higher age 25+: 65.7%
Per capita money income in past 12 months (2012 dollars): $43,271 (quickfacts.census.gov)
Gym membership in America: 42.8 million by 2011 (prweb.com).
Tax identification number:
A Federal Tax ID Number or Employer Identification Number (EIN) is a nine-digit number issued by the Internal Revenue Service (IRS) to businesses and organizations. If your business needs an EIN, you can get one from the IRS for free.
Trademark brand:
$275 per class for a TEAS Plus application that meets the requirements of 37 C.F.R. §§2.22 and 2.23 Restaurant is class 04, Onetime cost.
Business license:
Irvine business license tax is fixed at $51 annually, no cost for license.
Mobile Food Facility (Food Truck) Permit:
No cost for food truck permits in OC, time and effort are all that is needed.
Health Permit:
No Cost
Food Safety Certification:
No Cost
Food Handler permits:
$15 per employee
Obtain insurance:
Property Insurance (varies by size of building, property type, etc.) General Liability Insurance (varies by size and need of company) Automobile liability for food truck, Workers Compensation; Unemployment Insurance (varies by size and need of the company)
Consumer Analysis
Target Market:
Health conscious residents in and around Irvine (Orange County area)
Active gym members, clean eaters, body building competitors
Fuel Stop Café vs. Competitors:
Vibrant and motivational atmosphere
An impressive personalized made-to-order menu
Wide variety of options for breakfast, lunch, and dinner
Protein shakes as meal replacement options
Pre/post gym meal options for every type of workout and fitness goal
Expectations of Consumers:
Clean eating and healthy meal options prepared organically using premium ingredients
Menu specialization that allows the wide array of consumers to find the perfect meal that best suits their goals whether it be bulking up, weight loss, or toning
Cook-to-order service that ensures your meals are completely personalized and cater to your every fitness-food need
Consumers can expect a knowledgeable staff who can assist them with any health/fitness questions they may have
Food is always fresh, organic, and made with integrity (ex. using only natural sea salt in cooking)
An atmosphere that is vibrant and motivational to keep clients excited and focused on their goals
Breakfast-Lunch-Dinner options
Pre/ Post gym workout meal replacements- smoothies and protein shakes
Somewhat higher prices in order to attract serious and dedicated customers who are determined to reach their fitness goals
Healthy food that tastes great
Employees who invest in and truly care about the consumers goals and routines
To be the rare healthy alternative in a widely fast food oriented world
Market Segment:
Individuals looking to build muscle, lose fat, and tone up
People looking for organic, heart healthy, and delicious food
Organic, gluten free, vegan, and vegetarian options for those who are not provided such options at other restaurants
Fitness buffs and people determined to live all around healthy lives
Individuals who care about the integrity of the food they consume
Sales Potential for future target markets:
Core target market- Health conscious individuals, active gym members, body builders
Other markets- A long-term goal would be to attract consumers who do not necessarily strive to maintain an entirely healthy lifestyle, but by the reviews and buzz happening through committed and pleased customers, become a part of our potential sales.
Through these word of mouth and local advertising techniques, we would hope to become a regular household name that people choose to give their service to because of the great food first and foremost, and with the result of encouraging and spreading the healthy lifestyle.
Marketing Focuses (4Ps)
Product
The entirety of the business is based upon on our product, as it is the make or break point. It will either draw customers in, or far away until we are only an afterthought. That is why Fuel Stop Café’s product must be topnotch and made with integrity as its foundation. We live in a society that is rapidly growing more health conscious as studies of food importance become more known. There is a growing market place for healthy meals that are tailored to the customer’s individual needs. So what makes Fuel Stop Café Different from other health conscious and customized restaurants? Herein lies the beauty of this venue, it is in the finite precision of the customization. Patrons don’t just order from a menu with a novice guess as to how much protein is in their meal, rather specific listings of the exact amount of protein. Not captivated yet? Show me another restaurant which wields more information readily available to the consumer regarding actual breakdowns of carbohydrates, vitamins, and minerals essential to an individual’s fitness needs. Most restaurants do in fact have calorie amounts, as it is the law, but where are the calories coming from? Typically caloric values are the most nutritional information provided. Customer’s will trust our brand because it empowers them to build meals that are within their actual needs, based off of real time, up to date information, rather than a simple inference based on how the product looks. Whether they are looking for a protein induced meal to help gain muscle or an organic meal to keep pollutants out of their bodies, Fuel Stop Café will meet their needs.
Price
We must take into account the price of ingredients and organic, gluten-free products as we must maintain a profit margin percentage per meal sold. The brand is not yet widely recognized; therefore pricing should be competitive yet acceptable. The pricing will be concurrent with the status quo so as to not be intrusive, yet still acceptable. Price tells much about a business, whether it be lower dollar value brands, or higher prices for luxury brands, Fuel Stop Café will be strategically priced to match its product.
Location
In order for Fuel Stop Café to create a business model that is successful with above margin profits, we must focus on location when our product and price is ready for the marketplace. There needs to be a balance between store location and monthly leasing price to ensure rent is affordable, yet the location is easily accessible for our target market; in short, living within our means. Since our customers are health conscious and looking for quick alternatives to unhealthy meals, but with enough nutrients to meet their needs, Fuel Stop Café will focus on leasing a business building that has the most amount of gyms and fitness centers within five mile radius. This will strategically place our business in a market that covers the most customers within our demographic which will help seek the volume necessary to stay afloat.
Figure 9-A & Figure 10-A gives a general idea of Fuel Stop Café’s tentative location based on amounts of fitness centers per five mile radius. We will also rely on a location near other businesses in hopes that “window” traffic will account for 15% of monthly sales. The price of meals will cost the customer a little more because of the steep price of organic foods so we must keep in mind that our target demographic is above the average household medium. It is imperative that we maintain cognizance of this when pinpointing locations because leasing a trendy business front in a rundown neighborhood will not tailor to our customers’ needs or our business model.
Promotion
We will offer all gym members a special rate of meals. This will give fitness centers a way to give more value to their customers and a way for us to do cross-promotional discounts. In order to ensure an effective promotion strategy, there must be major emphasis on differentiation. Promotions such as Protein Shaker Sunday’s and Free Shirt Fridays, will give consumer’s better reason to come in to our venue. Also, as most gym goers live a rather busy on the go lifestyle, we will have delicious workout shakes, once again designed to promote consumer involvement and customization. This facet will not only give patrons a reason to come in before their workout, but it also satisfies their need for a nourishing post workout shake. This design boosts us far above the competitor because we are receiving nearly twice the revenue for half the visits. Fitness has become not only an activity but a lifestyle, and as a brand we must be in tune to this aspect. Major events such as CrossFit competitions, mud runs, and body building tournaments will be littered with banners, flyers, and walking billboards. The walking billboards will be our valued customers sporting our hip new t-shirts which will be designed in eye catching advertisement schemes. Additionally, our friendly staff will get to know frequent customers, and as we build relationships we will sponsor the more elite athletes in hopes that they will better promote our business. Yelp has become a growing review website for established and growing businesses
Financial Information
Our company expects to lose money in the first year. People will have to get to know our restaurant and learn what we provide. Once our name is more known and matched up with what we provide then we will begin to make money.
We are located in Irvine and very close to Santa Ana and Costa Mesa. These populations are 229,985; 330,920 and 111,918 (Google Public Data). As stated in our Health Food Megatrend Analysis section, 44% of people have changed their diet to eat healthier. We took these numbers added all three populations together and multiplied it by 44%. This told us that 296,042 people in these cities are in our market and are who we want to target. Once we reached this number we made an estimation of what our high, medium, and low market share would be. For a high market share we used 75% of the 296,042 and came up with 222,031.59. The medium was 50% and came out to 148,021.06. For the low we used 25% and came up with 74,010.53. After seeing our high, medium, and low we started to work on our sales.
For our sales we took the average price of our food and then of our drinks. We then said that we plan to have more than our low market share come in. We decided that because we will have to be getting our name heard and word of mouth going that 32% of our market will come in. 32% of our market is 94733.48. We then stated that these people would all have at least one plate and one drink. Our sales came out to be $956,808.15 in food and $562,085.31 in beverages. These are good numbers for our first year. We do lose money as we expected to. Our expenses can be seen on our table on pages 22-26. After calculating our expenses and our sales we end up in the negative $213,942.05.
We then estimated the next 4 years. For the second year we estimated that 10% more customers would hear about us and come in. we end up profiting $682,633.42. This allows us to pay back at least half of each loan, $450,000 each that we plan on taking out. This leaves us with $232,633.42. Now this number may be a little smaller depending on the banks interest on the loans. In the third year we plan on hitting our medium market share, which is 50%. We make a profit and are able to pay back the last of loans. You can see our profit and expenses in table…. Our Fourth year is when our restaurant will start to take off. We will be serving a little more than our medium market share of an estimation of 56%. This will be the year that we make our biggest profit because we will not owe the banks money. Our profit estimation for year four is $1,252,572.15. We do the same thing for our fifth year with a few added expenses, chef and managers get raises (p.22-26) and estimating that we are going to hit 60% of the market share our profit is $1,385,623.40. After the fifth year we can start to give money back to ourselves and to our investors wisely.
Our breakeven point is $2,127,035.51 for our startup cost. There are seven of us that are going to be putting in $50,000 each. This will make us able to only need to take out two loans of $450,000 to start up our restaurant.
The startup cost for our restaurant is $1,227,035.51. The startup cost is higher than most restaurants because we are also starting up our food truck. Now because the cost is so high we are going to have to pull out loans to be able to successfully start the company. This is a weakness for us because that is money that we will have to pay back and with interest. There are seven of us that are starting the restaurant and that helps us with the loans because the banks have more people to pin the loan on. Also it helps us because we have more credit scores to use as well. The way we plan to reduce this weakness is by doing research one our loans. We do not plan on taking the first one thrown at us. We are going to figure out which loan gives us the lowest interest and is less of a rick for us to take.
Tables, Graphs, Diagrams, and Pictures
Figure 1-A
Figure 2-A
Figure 3-A
Figure 4-A
Figure 5-A
Figure 6-A
Figure 7-A
Figure 8-A
Figure 9-A
Figure 10-A
Strengths, Weaknesses, Opportunities, Threats (SWOT Analysis)
Financial Information: 5 Year Income Statement
Sales Food Sales $956,808.15
Beverage Sales $562,085.31
Total Sales $1,013,093.46
Cost of sales Food Cost (687,864.51)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) ($34,950)
Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
Equipment ($15,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Total Expenses 1,227,035.51
Profit (213,942.05)
Year 1
Sales Food Sales $1,255,810.16
Beverage Sales $737,695.22
Total Sales $1,993,505.38
Cost of sales Food Cost (756,650.96)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
Equipment ($15,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Loans Bank 1 ($225,000)
Bank 2 ($225,000)
Total Expenses ($1,760,871.96)
Profit $232633.42
Year 2
Sales Food Sales $1,485,012.71
Beverage Sales $877,764.89
Total Sales $2,362,777.60
Cost of sales Food Cost (817,183.04)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
2 year city licenses ($1,000)
Equipment ($15,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Loans Bank 1 ($225,000)
Bank 2 ($225,000)
Total Expenses (1,820,404.04)
Profit $540,373.56
Year 3
Sales Food Sales $1,674,413.55
Beverage Sales $983,593.62
Total Sales $2,658,007.17
Cost of sales Food Cost ($866,214.02)
Payroll Cooks ($51,321)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($41,600)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
Equipment ($2,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Total Expenses ($1,405,435.02)
Profit $1,252,572.15
Year 4
Sales Food Sales $1,794,015.25
Beverage Sales $1,053,317.85
Total Sales $2,847,865.98
Cost of sales Food Cost ($900,862.58)
Payroll Cooks ($60,000)
Assistant Cook ($81,120)
Bussers/Dish Washer ($52,000)
Servers ($72,800)
Managers ($54,080)
Employee Benefits Health Insurance ($25,554)
Direct operating cost Food Truck (Used) Gas ($5,000)
Repairs ($2,500)
Insurance ($2,000)
2 year city licenses ($1,000)
Equipment ($2,000)
Utilities ($35,000)
Insurance ($15,000)
Permits/Licenses ($326)
Lease ($135,000)
Advertising ($20,000)
Total Expenses (1,462,242.58)
Profit $1,385,623.40
Year 5
References
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"Federal Tax ID / EIN Application." Federal Tax ID / EIN Application. N.p., n.d. Web. 12 Apr.
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Kidera, Stephen. "One-Third of U.S. Consumers Plan to Purchase Fitness Technologies in 2013, According to CEA - CEA." One-Third of U.S. Consumers Plan to Purchase Fitness
Technologies in 2013, According to CEA - CEA. N.p., 05 Dec. 2012. Web. 14 Apr. 2014.
<https://www.ce.org/News/News-Releases/Press-Releases/2012-Press-Releases/One-Third-of-U-S-Consumers-Plan-to-Purchase-Fitne.aspx>
Kotkin, Joel. "America 's Fastest-Growing Cities Since The Recession." Forbes. Forbes
Magazine, 18 June 2013. Web. 14 Apr. 2014.
<http://www.forbes.com/sites/joelkotkin/2013/06/18/americas-fastest-growing-cities-since-the-recession/>
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US Census Bureau. N.p., n.d. Web. 8 Apr. 2014.
<http://quickfacts.census.gov/qfd/states/06/06059.html>
Tao, David. "How CrossFit Embraced Fans And Built The Next Great Spectator Sport." Forbes.
Forbes Magazine, 02 June 2013. Web. 14 Apr. 2014.
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"Trademark Process." Trademark Process. N.p., n.d. Web. 12 Apr. 2014.
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"USDA ERS - Organic Prices." USDA ERS - Organic Prices. N.p., n.d. Web. 14 Apr. 2014.
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"Wholesale and Retail Prices for Chicken, Beef, and Pork - The National Chicken Council." The
National Chicken Council. N.p., 15 Mar. 2012. Web. 14 Apr. 2014.
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