SlideShare a Scribd company logo
1 of 49
Team 1 PM 101
Tayler Reid- Kyle Folden- Sarah Spirer- Ashleigh
Robson- Zhiwen Wang- Garrett Olexo
Industry Analysis
Introduction
Competitive Advantage
Major Competitors
Store Description
Marketing Plan
Appendix B: Menu
1
2
4
5
8
9
16
26
27
3
Business Description 6
Operational Plan
TableofContents
Information Systems
Appendix C: Information System Comparison
Marketing Budget 14
Primary Demand Forecast 17
18
19
Secondary Demand Forecast
Combined Demand Forecasts
Key Financials
Conclusion
References
Appendix A: Marketing Demographic
20
21
22
25
Appendix D: Dashboards Explanation 28
Appendix E: Wrapped SUV and Location 29
Appendix F: Employee Roles 30
Appendix G: Employee Schedule 31
Appendix H: Work Breakdown Structure 34
Management Plan 15
Appendix J: EV Charging Station 41
TableofContents
Appendix I: Financials 36
Figure 2: Keep It Local
Figure 1: Logo
Figure 3: Key Sustainability
Figure 4: EV Charging Station
Figure 5: Brooklyn Station
Figure 8: Blender Light
1
2
3
5
5
5
9
3
Figure: 6: Restaurant Interior 5
Figure 9: Target Customer
ListofFigures
Figure 7: Interior Furniture
Figure 10: Twitter 9
Figure 11: Facebook
Figure 12: Wrapped Car
Figure 13: EV Charging Station
Figure 14: The Jacksonville Farmer’s Market
9
10
10
10
Figure 15: The Jacksonville Farmers Market 10
Figure 16: Coupon 11
Figure 17: Farmer’s Market Coupon
Figure 18: Taste Magazine
Figure 19: Jacksonville Magazine
Figure 20: Google AdWords
Figure 21: AppCard
Figure 22: Unity Plaza
Figure 23: Grand Opening Flier
Figure 24: Marketing Dashboard
11
11
12
12
13
11
13
13
Figure 25: Marketing Budget 14
ListofFigures
1
•20
•Figure 26: Take Control of How You Count Conversions
•Figure 27: Floorplan
•Figure 28: Supply Chain
•15
•16
•16
•Figure 29: Net Income
•Figure 30: Payback Period
•Figure 31: Target Market
•Figure 32: Market Trends
•Figure 33: Bowl Menu
•Figure 34: Smoothie & Juice Menu
•20
25
25
26
26
•28
•Figure 35: Food Cost %
•Figure 36: Wage Cost %
•Figure 37: Basket Analysis
•28
•28
•28
•Figure 38: Conversion Rate
•Figure 39: Customer Satisfaction
•Figure 40: Wrapped SUV
•Figure 41: Brooklyn Station
•Figure 42: Organizational Structure
•Figure 43: Breakeven
•28
29
29
30
37
•Table 3: Marketing Budget Breakdown
•Table 6: Implementation Time Table
•Table 7: Primary Demand Forecast
•Table 4: Marketing Schedule
•Table 2: Major Competitors
•Table 5: Filing Fees
•Table 1: Average Demand Forecast
•Table 8: Secondary Demand Forecast
•Table 9: Combined Demand Forecast
•Table 10: IS Comparison
•Table 11: Employee Schedule
1
4
14
14
15
16
17
18
19
27
31-33
•Table 12: Wage Cost Breakdown 33
•Table 13: Work Flow 34-35
•Table 14: Balance Sheet
•Table 15: Capital Budget
•Table 16: Contribution Margin
36
37
37
•Table 17: Income Statement 38
•Table 18: Sales Calculation 38
•Table 19: COGS & OC 38
•Table 20: Store Expense
•Table 21: General and Administrative Costs
•Table 22: Average Cost of Capital
38
38
39
ListofTables
•Table 25: Reoccurring Costs
•Table 26: Preopening Costs
•Table 24: Payback Period
•Table 23: Decision Making Criteria 39
39
40
40
41•Table 27: Charging Station Costs
Table 28: Fresh Garden Eatery Charging Station Cost 41
ListofTables
1
Weighted Daily Customers 108
Weighted Ticket Price $9.69
Weighted Daily Revenue $1,047
Weighted Annual Revenue $376,747
Fresh Garden Eatery was built on providing customers with healthy customizable smoothies, juices, and quinoa bowls. In
order for customers to see the vision of the business detailed information systems, marketing, management, and
operational plans are provided. Company financials are explained in detail throughout the analysis. The information
system that was chosen after an extensive comparison is ShopKeep. ShopKeep has both marketing and accounting
aspects integrated into the system making it the best choice for Fresh Garden Eatery. In the marketing plan the main
points talked about include demographic advertising with social media and a wrapped vehicle; technology advertising
through Google Adwords and memberships; printed advertising through coupons, fliers, and brochures; and lastly a
grand opening event. After these aspects are discussed future developments are explained to show that the business
has plans for growth. A marketing budget breakdown is then included to show the readers where money is being spent.
The management structure is simple with a general manager, shift leader, and associates. Along with the employees the
decision to become a LLC is also explained. In order for Fresh Garden Eatery to be able to run smoothly there needs to
be an operational plan in place that includes physical facility requirements as well as explaining the supply chain. Florida
health department has many codes in place in order to keep customers safe, and Fresh Garden Eatery will have to follow
these codes in order to open the store and run it legally. Fresh Garden Eatery will be focusing on local produce which is
at the heart of the supply chain. The Jacksonville Farmers Market will be the main supplier of Fresh Garden Eatery
providing fresh and quality produce.
Lastly, with evaluation of the financial plans stated that the business is feasible. The payback period of Fresh Garden
Eatery for the projected five year financial planning reaches an estimated 4.35 years. Limited competition in the market
and the low startup costs, resulted in a positive NPV and IRR brings low risks to investors. The concept of the business is
quite unique, providing something new to consumers that are health conscious, and have a passion for a healthy
lifestyle.
The Fresh Garden Eatery is a new establishment located in Jacksonville, Florida. With goals of serving customers fresh
quality food and smoothies, as well as building long lasting customer relationships. The business will capitalize on the
trends of eating healthy combined with being customizable. The key concept setting the Fresh Garden Eatery away from
the competition is the offering of Quinoa bowls as well as customizable smoothies and juices. The market is relatively
small, yet still maintaining a constant annual growth of 2%.
The target market includes women aged 25-34. This demographic has become increasingly interested in health
consciousness. Main competitors both locally and nationally include Smoothie King, Planet Smoothie, Freshii, Robek’s
Fresh Smoothies, Fresh Healthy Café and Yo-Yo Juice to name a few. Extensive research has been conducted for the
demand in the market through a series of demand forecasts, in order to generate accurate predictions on whether or
not the concept will be feasible looking in future years of operation. Through primary research a demand forecast was
completed and through secondary research another demand forecast was completed. Below is an average of both
demand forecasts
Introduction
Purpose
This report was created to analyze the smoothie, juice and light
foods industry in order to determine the feasibility of a juice and
smoothie bar located in the Metropolitan area of Jacksonville,
Florida, called Fresh Garden Eatery. This report opens with an
overall analysis of the industry within the United States before
going over the business concept including, store location,
products, company objectives and value propositioning. Detailed
marketing, management, and operational plans for the business
will be also be provided. Following these plans are detailed
primary and secondary demand forecasts (an average of these
demands has been provided below in table 1 as well as key
financials illustrating the future and feasibility of Fresh Garden
Eatery company.
Concept Preview
Fresh Garden Eatery is a smoothie, juice, and quinoa bar
operating in Brooklyn Station. The business will be a single store
space located next to multiple retail stores, including a nail salon,
hair salon, and a fresh grocery store. What differentiates Fresh
Garden Eatery from competitors is the focus on customization
that allows customers to build their own beverage or quinoa bowl
to their distinct preference. Fresh Garden Eatery will also be using
locally sourced produced and organic products as often as
possible. As a company, Fresh Garden Eatery aims to promote
green activities and will have an Electric Vehicle Charging Station
on site as well as using compostable take away containers. Fresh
Garden Eatery wants to provide an atmosphere that promotes
healthy living and use of natural ingredients.
Target Market
The core consumers are those that appreciate real fruit’s value
and indicate that fruit consumption is superior to other means of
nutrition. These consumers demand all-natural, organic, non-
GMO-sourced fruit , and appreciate locally sourced products. The
target is towards females who are health conscious and between
the ages of 25-34. Later in the report, Nicole- the typical Fresh
Garden Eatery customer- will be introduced in the Marketing Plan
(page 10) for a greater demographic breakdown. Appendix A can
also be referenced for more on market trends.
Interest in organic products has nearly doubled among juice drink
buyers (including 100% juice beverages) since a 2013 measure,
which found 15% of buyers of products in those two segments say
organic claims drive purchase decision (Bloom, 2016). The rising
health trend has pushed consumers to search for healthier
alternatives such as the replacement of rice with quinoa. Quinoa
attracts consumers due to its gluten-free aspect and super-food
attributes, and its positioning as a “complete protein” (containing
all nine essential amino acids), according to a Huffington
Post (2014) article.
1
Weighted Daily Customers 108
Weighted Ticket Price $9.69
Weighted Daily Revenue $1,047
Weighted Annual Revenue $376,747
Table 1- Average Demand Forecast
The logo (below) was created to include all of the elements of the
business. Fresh produce items are the focal point of the logo as
this aligns with the mission statement of offering customers a
healthy and convenient meal. The tagline included is “The perfect
blend of fast and healthy”, which also aligns with the mission
statement. The logo has also been incorporated in the color
palette which is included on page 5.
Logo
Introduction
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Source:Steemit
Figure 1
IndustryAnalysis
Quality & Nutrition
Consumers are typically drinking less carbonated beverages which gives opportunity to smoothie
and juice shops since they can create drinks that have boosts without the added sugars.
Consumers want locally sourced vegetables with more than a third of consumers “indicating local
products would influence them to buy more vegetables”(Topper 2016). According to Bloom
(2016), “61% [of consumers] say buying local vegetables is more important to them than buying
organic vegetables”. Consumers are starting to think beyond health benefits and recognize
“supporting locale enterprises bolsters their community, not just themselves” (Roberts, 2016).
Smoothie, juice, and food shops can capitalize on the “go local” trend to show their commitment
to the community. Not only does locally sourced food benefit the customer but also benefits the
business as shown in figure 2.
2
Industry Overview
The smoothie and juice industry as a whole is mature with low concentration. The industry has low barriers to entry due to low
establishment costs and no licensing requirement. The industry is expected to grow 2.2 percent in 2017 up to 2.35 billion dollars (Alvarez,
2016). According to the US Census Bureau, the average consumer spends 5.2% of their annual expenditure on food and beverages
consumed outside the home. Spending also differs between locations, seasons, and restaurant or store types. Over the past five years,
consumers have become increasingly health conscious to the point where niche segments, such as cold-pressed juice, have become more
popular. Consumers have become aware of the high sugar content of many juices and smoothies and have revealed a preference for drinks
with high nutritional content that can act as meal replacements or as part of a cleansing diet. This trend has led to higher sales of drinks
containing "superfoods" such as kale, spinach and beets (Bloom, 2016).
According to the United States Census Bureau, Jacksonville, FL has a population of 868,031 residents and was ranked number 12 by
Nations Restaurant News as one of the top 25 cities with the highest resident population. The progressive metropolitan city is rapidly
growing due to Jacksonville’s ample natural resources, strong economy, as well as providing a variety of cultural and recreational
opportunities (City of Jacksonville). In the year 2015, Florida saw a 4.8% increase in tourists, partially due to a 2.7% increase in occupancy
in Jacksonville (Dixon, 2016). Jacksonville’s mission is to improve the quality of life in the area through the advocating of small businesses
and creating opportunity for entrepreneurial growth and expansion(City of Jacksonville). Fresh Garden Eatery’s will take advantage of a
young growing city and the unsaturated market for healthy smoothies, juices, and quinoa bowls in order to create a successful business.
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Since consumers are eating on the go more frequently, they are looking for meal replacements that provide balanced nutritional value.
Smoothies have the opportunity to be used as a replacement meal because 41% of respondents to Gallo-Torres survey (2015) agree they are
easy to drink on the go. New options that customers are able to choose from include a variety of grain bowls. The base of these bowls may
include rice, quinoa or farro, that are then able to be customized to the customers preferences. Not only are these bowls appealing to
customers who like to customize, but they are also a complete meal that is a perfect substitution for both someone who eats a salad or even
someone who likes carbs (Nozari, 2015). Quinoa is a great base to use because it is naturally gluten free, high in protein and 50% of people
age 18-34 have interest in trying quinoa (Owen, 2016).
Meal Replacement
Figure 2: Keep it Local
Source Google Images:
Source: Seng, K. (n.d.)
Jacksonville, FL
CompetitiveAdvantage
EV Charging Station
3
Eco-Friendly
Competitive Advantage
Locally Sourced
Locally sourced products can create a competitive advantage
because restaurants can ensure the quality of the products they are
selling by knowing where the products are being grown. As shown in
figure 3 two purchasing drivers for customers include products that
are made by a brand/ company they trust, as well as the products
are fresh, natural, and/or organic which can be achieved through
locally sourced produce.
Creating completely customizable options, creates a competitive advantage, when comparing to companies that do not offer
customization. This is due to the fact 72% of consumers expect restaurants to accommodate customization requests (Tristano, 2016).
Through customization customers will have full power when ordering to make their food unique to themselves, which gives them the
opportunity to decide every aspect of their meal.
Customization
Eco-Friendly businesses attract environmentally conscious people
to the respective organization. According to the Business and
Industry Portal, being eco-friendly helps attract and retain staff who
are clear on the environmental impacts. Promoting an eco-friendly
environment is viewed as a healthier environment and according to
the Green Business Bureau, these types of companies noticed a 20%
reduction in the amount of sick days used by employees. Another
major incentive that can be enjoyed by all types of organizations is
cost savings on taxes. Making energy saving implantations is viewed
highly by the government and various tax-breaks are offered for
those who implement these concepts. (Bell, 2010). While Fresh
Electric/hybrid cars are becoming increasingly popular in today’s
society. Fresh Garden Eatery has chosen to install a single unit
charging station with two charging cords in initial years of operation
(with the possibility of more to come) as shown in figure 4. By doing
so they will be able to attract customers from competitors as well as
retain customer loyalty from that specific group (Klemky, 2014).
Offering such services has many benefits.
Figure 4: Schneider Level 2 EV Charging Station
Source: John, 2014
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Figure 3: Key Sustainability
Source: FoodPeople, 2016
Garden Eatery values eco-friendly concepts they can benefit from both employees and consumers that share the same views and deter
environmentally conscious consumers from competitors that don’t share the same Eco-Friendly values. However, energy saving incentives
are a challenge in initial years due to costs, but these ideas are not ruled out for the future development of the company.
Source: Google Images
MajorCompetitors
Jamba Juice provides fruit smoothies as well as all-natural baked goods and other healthy snack and meal items through their 890
locations around the world and in 2015 was one of the most popular limited service restaurants in it its segment (Google Finance).
Jamba Juice has also begun serving new products such as quinoa bowls in California with a new Innovation Bar concept (Jamba
Juice). Jamba Juice is the leader in this industry with a 23.6% market share (Alvarez, 2016). Jamba Juice aims to serve those who are
health conscious or seeking a healthy lifestyle. According to research analyst, Nicholas Durante, “Jamba is dedicated to the growth
and expansion of their corporate and franchised locations through newer channels and markets” (Bixler, 2014). Jamba Juice hopes to
achieve this growth by following trends such as the kale phenomenon and implementing items like fresh squeezed juices and
coconut water refreshers (Ellison, 2015). These strategies as well as Jamba Juice’s enduring healthy, active lifestyle brand makes
their response to entry minimal.
Tropical Smoothie Café originated in Tallahassee, Florida in 1997 and has grown to 507 U.S. locations (Entrepreneur). Tropical
Smoothie Café serves better-for-you food and smoothies made with fresh and natural ingredients (QSR Magazine, 2016b). One
featured item is called the Caribbean Jerk Chicken Bowl that can be served with your choice of brown rice or quinoa (Tropical
Smoothie Café). Tropical Smoothie Café aims to serve those living a healthy lifestyle and aims to inspire others to take part in a
healthy and active lifestyle as well. In the year 2015, Tropical Smoothie Café reported a 6.4 percent increase in same-store sales, an
increase that CEO Mike Rotondo attributes to “ongoing menu innovation and unwavering commitment from our franchisees and
employees” (QSR Magazine, 2016b). Through these strategies Tropical Smoothie Café has achieved tremendous growth, but due to
their proximity to our concept’s location, it is predicted that they will most likely take considerable response to entry.
Freshii restaurants achieved rapid growth in the year 2015 and now operates over 200 units across 85-plus cities and 20 countries
(QSR Magazine, 2016a). Freshii offers a fully customizable menu with nutritious meal options like kale or quinoa based bowls and
burritos as well as fruit smoothies to energize people on the go (Freshii). Freshi has taken advantage of the fact that individuals, in all
places, are becoming more health conscious an opened several new restaurants in Canada this year (QSR Magazine, 2016a). This
rapid growth makes Freshii a major competitor, but this growth will not stop them taking notice and having strong response to new
entry.
1 UNF Drive, Jacksonville, FL 32224
1808 Hendricks Avenue, Jacksonville, FL 32207
7600 Dr. Phillips Blvd #10 The Marketplace at Dr. Phillips, Orlando, Florida 32817
Companies
Compared
# of all
locations
# of locations
in FL
Within 5 Miles
Jamba Juice 890 10 1
Tropical Smoothie
Cafe
507 143 1
Freshii 200+ 6 0
4Table 2
National Competitors
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
StoreDescription
Fresh Garden Eatery is located at 150 Riverside Ave Jacksonville, Florida, in the shopping district of Brooklyn Station as shown above.
The building is 1,394 square feet with limited seating, which is perfect for on the go clientele. The building is located within 1.5 miles
of the downtown center, which is an urban location. There are two markets, a clothing boutique, nail salon, hair salon, healthy
grocery store, urban park, and two apartment complex’s close in proximity to the restaurant location. For more information on the
places near Fresh Garden Eatery see appendix E.
5
Source: Google Images
Fresh Garden Eatery will have a color
palette that is elevated and modern.
Since Fresh Garden Eatery has a strong
emphasis on being environmentally
friendly, the color palette expresses this
commitment. The colors include
primarily green, brown (wood), and
taupe, with pink being the focal color of
advertisements. Pink was chosen as a
pop of color for advertisement because
it compliments the green well and Fresh
Garden Eatery did not want to overuse
the color green. Figure 6 showcases the
color palette in use in a mock interior of
Fresh Garden Eatery.
Figure 8 : Blender Light
Source: Kueber (2011)
Color Palette
Happy Hour
Buy one get one: 8oz
smoothies
5-7 at Fresh Garden
Eatery
Interior Furniture
Figure 7 is a good representation of the living wall that
will be displayed in Fresh Garden Eatery, but the
furniture will be different. In order to keep the
commitment of being environmentally friendly, the
store will recycle their furniture from local thrift
markets. All of the chairs, bar stools, and tables will be
mismatched but still compliment each other very well
and follow the color palette. Fresh Garden Eatery strives
for the interior of furniture to look like figure 7. As a
focal point a traditional chandelier will not be used, but
instead a blender light will be made to tie into the
theme of the restaurant as seen in figure 8.
Figure 7:Furniture
Source: Crust USA (2016)
Figure 6: Interior
Source: Atrium Dumbo
Fresh Garden Eatery
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Figure 5
Fresh Garden Eatery will sell all organic, non-GMO, dairy free products. The customers have the option to choose from the
signature menu as shown in appendix B or customize every aspect of their meal. There is a strong focus on customer satisfaction
and allowing the customer to have all of the control while ordering. Market share will be gained at a competitive rate in the
current unsaturated market. Fresh Garden Eatery’s success will rely on the ability to provide fresh meals at a cost feasible for the
customers and business. Fresh Garden Eatery strives to open at least three stores within the next five years in similar markets.
7
BusinessDescription
6
Mission, Vision, Goals, and Objectives
The overall goal is to improve the American’s diet and educate customers on the appropriate meal portions. Although foodservice
smoothies lead for drinking on the go there is still a lot of room to improve this industry (Roberts, 2016). The demand for more health
conscious choices is expected to continue growing throughout the years which is a motivator for creating a business that will flourish.
Instead of offering sugary smoothies or juices Fresh Garden Eatery wanted to create a healthy concept that is able to satisfy the increased
health trend move.
Within the businesses that offer smoothies, juices and health bowls there is a lack of customizable options and Fresh Garden Eatery wants
to provide completely customizable options to maximize the consumer’s experience. The goal is to make sure each customer is thoroughly
satisfied after receiving their product. The last aspect that influenced the start of the business is the guaranteed top quality products that
are 100% organic and contains no GMOs or dairy in order to be inclusive to everyone.
Objectives
Develop a sustainable business that will locally
source 75% of our produce within the first year of
business.
Reducing our carbon footprint through low energy
light bulbs and energy efficient equipment.
Running an eco-friendly business through the use of
compostable take-away containers..
Vision
Our company will show customers the
value of being an environmentally
sufficient company, while serving our
customers the healthiest smoothies and
bowls in town
Mission
Our mission is to provide our
customers with a fresh, healthy, and
convenient meal.
9
Reason for Starting Business
Value Proposition
Fresh fruit picked up every other day from our
suppliers at The Jacksonville Farmer’s Market.
“Build Your Own Beverages”
All customers are able to customize their beverages
and bowls to their liking.
Customer Satisfaction
We strive to make sure our customers are satisfied
and pleased with our products and services.
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Fresh Garden Eatery provides a variety of customizable products
creating an experience that is unique to each customer. The
products offered are fruits, vegetables, and various liquid bases
such as coconut milk, almond milk or honey. Along with beverages,
there is an option for a customizable quinoa bowl. The bowls are
served with organic quinoa and topped with a large array of
vegetables, fruit, and fresh herbs.
Fresh Garden Eatery focuses on making sure the customer feels
welcomed by providing an atmosphere that is friendly and
encouraging of a healthy lifestyle. Fresh Garden Eatery realizes the
challenges of maintaining a healthy diet and has taken into
consideration certain consumer preferences such as the
customization option and the growth of quinoa.
The customer starts their experience by choosing whether they
want a beverage or bowl. If they choose a beverage they then
choose from Fresh Garden Eatery’s wide array of options in the
appropriate size of their choosing ranging from 8oz, 12oz, and
16oz. They then can order a beverage from the menu of
”Signature” beverages or they can choose to customize their own.
(Please see appendix B for a smoothie and juice menu). They then
will decide whether they want their beverage blended into a
smoothie or freshly pressed into a juice.
9 98
BusinessDescription
7
Revenues will come from items sold at the
retail store including:
• Smoothies & Juices
• 8oz: $3.99 / 12oz: $4.99 / 16oz: 5.99
• Quinoa bowls
• 1 Cup: $7.49 / 2 Cups: $8.99
Fresh Garden Eatery will target the healthy consumer that is
interested in either using smoothies or juiced as a total meal
replacement, or eating a fully customizable quinoa bowl. Trends
have been identified that point to an increased consumer demand
for customization and healthier, higher quality food.
If the customer wants a bowl they select toppings including fruits or
vegetables to be put on their quinoa base. The quinoa bowls will be
prepared in an order-as-you-go fashion. Once quinoa has been
chosen they will be first be given a fruit option and then a vegetable
option in which they will be able to pick up to two fruits and two
vegetables of their choosing. (Please see appendix B for the bowl
menu. Note: additional fruits and vegetables can be added at the
consumers expense).
After they have chosen their desired fruits and vegetables they will
then be able to choose herbs that they would like added to their
bowl. Finally after herbs have been selected they can pick a liquid
topping as well as up to three individual toppings respectively.
(Please see appendix B for a full list of menu options).
The customer will choose what they want, and the employee will
assemble the items to their choosing. Once the customer has
received their product they will pay through the POS system which
is hosted by ShopKeep. The customer is then able to enjoy their
beverage and/or meal within the store or on the go.
The decision to be non-dairy means that Fresh Garden Eatery can
reach everyone in the target market of females aged 25-34. In an
effort to further the image as a healthy option for consumers and
to satisfy the 80% of millennials wanting to know more about
where their food comes from, Fresh Garden Eatery will source fresh
produce and herbs from the Jacksonville Farmers Market in order
to form a close partnership (Reiter, 2015).
Fresh Garden Eatery also has a strong mobile presence, with the
help of Shopkeep information system. In order to connect to the
customer both AppCard and MailChimp will be utilized in order to
create the best customer experience. Since customers will be able
to interact with Fresh Garden Eatery while away from the shop
they will be excited when they visit.
Business Model
Products and Services
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Source:GoogleImages
Source:GoogleImages
Source: Tripod
After comparing three different
systems, ShopKeep was chosen to be
used in Fresh Garden Eatery. Appendix
C includes a comparison of the multiple
information systems. ShopKeep is an
inexpensive option that costs $69 a
month for the first terminal and $39 for
a second terminal. In addition to cost
Fresh Garden Eatery needed certain
features as outlined.
Inventory management is crucial
since the majority of the inventory
includes perishable items. A system
with inventory management will
allow Fresh Garden Eatery the
ability to plan accordingly and track
the inventory more closely.
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
In order to keep customers satisfied
customer loyalty needs to be
offered through the POS.
ShopKeep is partnered with
Appcard making for simple
customer loyalty integration.
Employees will be able to receive
the customers information at
checkout and enter it into the POS.
Their information will be linked to
their purchases allowing for
personalized coupons to be sent to
the customers.
Inventory Management
In order to get the most benefits from an
information system marketing
integration already included was
optimal. ShopKeep allows for integration
through MailChimp. MailChimp is an
additional service that has three pricing
tiers including free, $10 per month and
$199 per month. The free version of
MailChimp allows for up to 2,000
subscribers and 12,000 emails to be sent
a month. It was projected that no more
than 2,000 people would subscribe to
the newsletter, so Fresh Garden Eatery
will be using MailChimp for free, but can
upgrade when necessary (MailChimp,
2016).
InformationSystem
The employees are a fundamental part
of the business so a system with them
in mind is needed. Since there will be
multiple part time employees simplicity
was the top priority. Another benefit
includes the management aspect that is
integrated which will be beneficial for
both the employees and managers.
Employees will be reminded to clock in
when they securely log onto the POS
system with their employee I.D. Both
managers and employees will have
access to multiple dashboards when
they log into the system which are
shown in appendix C. In addition to
checking the dashboards on the POS,
the manager will be able to check key
real time dashboards on an app.
Fresh Garden Eatery
Fresh Garden Eatery was looking for in an
information system includes online
ordering. Even though Fresh Garden
Eatery will not be utilizing online ordering
in the beginning of operation , but in the
future online ordering will be a part of the
business plan. Altogether, ShopKeep is the
best information system for Fresh Garden
Eatery. (ShopKeep, 2016).
A system with accounting integrated was
another option that will further increase
efficiency since the location is a LLC with
no accountant on the payroll. ShopKeep
integrates with Intuit QuickBooks, which
allows managers to sync daily sales which
are they stored in one location.
QuickBooks has many features including
tracking income, expenses, and manage
& pay bills which will be the key features
needed at Fresh Garden Eatery, The
monthly cost is $21 for the first 6 months,
and then $30 the following months
(Quickbooks, 2016).
8
MarketingPlan
9
Fresh Garden Eatery will implement social media marketing to appeal more effectively to our customer demographic. Facebook
boasts 275% greater click through rates while Twitter’s biggest selling point is 22% increase in brand conversation, 30% increase in
positive mentions, and 32% increase in retweets. Figure 10 and figure 11 are Fresh Garden Eatery’s two of the social media
platforms implemented (DaMers, 2014).
Social Media Presence
Target Market
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
In order to determine who would be the target
customer for Fresh Garden Eatery market trends
were first determined. According to the market
trends figure in appendix A the shift towards
healthier lifestyles is the most current and
prominent trend.
Females between the ages of 25-34 for the target
market was selected because women in this age
range are more likely to participate in juice
cleanses and tend to eat healthier. Figure 9 to the
right is Nicole who is a perfect representation of
Fresh Garden Eatery customer.
Demographics
Psychographics
The target customer for Fresh Garden Eatery
also has certain values. These customers, aside
from being health conscious, are also
increasingly environmentally conscious and take
part in eco-friendly activities. These individuals
are also seeking local products that will benefit
not only themselves, but also their community.
Figure: 9: Target Customer
Figure 10: Twitter Figure 11: Facebook
MarketingPlan
10
Fresh Garden Eatery plans on implementing a wrapped 2012 Toyota RAV4 EV for visual appeal as well as transporting the fresh
produce from the local farmer’s market. It will be driven Monday, Wednesday, and Friday at 3:30PM. The store will also have a level
2 EV Charging Station that will be the charging station for the RAV4 as well as customers of Fresh Garden Eatery and surrounding
businesses.
The wrapped SUV was chosen based on:
• “95% of American consumers take in mobile marketing
messages
• Between drivers, passengers or passersby – there is a great
chance of reaching our target demographic” (StarFish, 2016)
Since the SUV will attract the attention of people in Jacksonville, FL
it will make for a cost effective method of marketing Fresh Garden
Eatery. Figure 12 is a representation of what the wrap will look like
on the SUV, but there was no SUV on Customer Car Wraps so a van
was used instead.
Figure 12: Wrapped Car
Source: Custom Car Wraps
The EV Charging Station will benefit Fresh Garden Eatery as shown in
figure 13. Jacksonville, FL grants $200 per station installed, while the
store will pay the rest as shown in appendix J. By installing the EV
charging station it will create:
• Advertising opportunities
• Build customer loyalty by demonstrating environmental
consciousness (StarFishSigns, 2016).
It is estimated the there is 670 electric cars in the Jacksonville area,
with that number increasing by 12 to 15 every month (Scanlan,
2015). With such a large number of electric vehicles in the area, plus
the vehicle the business uses, installing these charging stations is a
good decision.
Go Green Campaign
Farmers Market
As part of the marketing efforts, Fresh Garden Eatery will rent a space
at the local farmer’s market every Saturday for the first year of
operation. Two employees will attend The Jacksonville Farmer’s
Market every Saturday two months prior to the grand opening as well
as the months following. The stand will offer samples of smoothies and
juices from the menu and a 10% off coupon will be given to customers
that try the sample.
Figure 14: Jacksonville Farmer’s Market
Source: Jacksonville Farmer’s Market
The stand has the potential to continue being a marketing tool
after the first year of operation. Once the business is
established and has reached the full number of forecasted
customers, potentially full size smoothies, juices, and quinoa
bowls can be sold at the market. A booth at the farmer’s
market is a great way to get the name of the brand spread
around the Jacksonville area.
Figure 15: Farmers Market
Source: Jacksonville Farmer’s Market
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Figure 13: EV Charging Station
MarketingPlan
11
The YMCA is located directly across the street from the new
Fresh Garden Eatery and the farmer’s market is an 8 minute
drive. Since a majority of the YMCA’s members have a
passion for either working out or eating a healthy diet this
makes them a perfect target for advertising the new
restaurant. The farmer’s market is a great target to
advertise because they are individuals interested in eating
locally.
Figure 16: Coupon
Ways of going about doing this consist of, however are not
limited to fliers, coupons, and brochures. The fliers will be
passed out to people at the YMCA facility as well as
customers at the farmers market. The fliers will be simple
with the location of the business, the name and logo and
the offerings. The brochures will be a more detailed
information, where the presumed customers can see most
of the great items and benefits that Fresh Garden Eatery
has to offer. Coupons are a great way to get customers in
the door. (Reece, 2005). Altogether printed advertising
throughout the year will be beneficial to increasing
publicity of Fresh Garden Eatery. Shown in figure 16 and
figure 17 are two coupons that will be used to promote
Fresh Garden Eatery.
Happy Hour
Buy one get one: 8oz
smoothies
5-7 at Fresh Garden
Eatery
Sales Promotion
Magazine Ad
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Fresh Garden Eatery will advertise in two local magazines.
Jacksonville Magazine as shown in figure 19, is a popular
publication in the area, with over 167,000 monthly
readers. Fresh Garden Eatery will buy three spots in the
magazine in July, October, and January for a total of $4570
(Jacksonville Magazine).
Taste Magazine as shown in figure 18 is one of the four
publications from the same company. All of the
publications have over 1 million yearly readers, putting an
ad in these magazines will get the name of the restaurant
in front of thousands of people. Fresh Garden Eatery will
buy a spot in this magazine in June ($1700) and December
($2200) for a total of $3900 (Taste Magazine).
With it being such a popular magazine in the area, the
price of advertising is relatively high. However, the
business has chosen to go with less expensive means of
marketing so there is plenty of room in the budget to
purchase the space.
Figure 17: Coupon
Figure 18: Taste
Source: Taste Magazine
Figure 19: Jacksonville
Source: Jacksonville Magazine
MarketingPlan
12
Becoming a member at Fresh Garden Eatery is simple and
beneficial to customers. The membership is implemented through
AppCard which will be integrated through Shopkeep. An example
of AppCard is shown in figure 21. The customer’s information will
be stored and used when needed. Customers will receive coupons
and promotions on their birthdays, during and on the holidays, and
exclusive deals only offered to members. Fresh Garden Eatery is
focusing on the loyalty of the customers and wants to give back to
those who support the concept. For this reason, members will be
able to acquire points during purchases and can redeem them for
free drinks or gifts (AppCard, 2016).
MailChimp will be used to send monthly newsletters that have
information regarding new products or activities before
promotions are launched which will also allow Fresh Garden Eatery
to acquire customer feedback. MailChimp allows companies to
track the average open rate as well as the click rate. This tool will
allow for Fresh Garden Eatery to see how customers are
responding to the newsletters, MailChimp also integrates with
Twitter and Facebook, allowing Fresh Garden Eatery to reach
multiple channels.
Fresh Garden Eatery has decided to
implement Google Adwords into online
advertising elements. Google Adwords is
an advertising service by Google for
businesses looking to display ads
through Google’s network. The program
allows the company to set budgets and
only require payment when the ads are
clicked. The ads are keyword sensitive
and become visible when implemented.
This is because 55% of people use
technology before visiting a business
(Lafferty, 2014).. Also, the competitors
found on SpyFu (2016), showed that
Robeck’s Fresh Smoothies, Jamba Juice,
and Planet Smoothie are not using
search engines which gives Fresh Garden
Eatery a competitive advantage to
develop a presence online. Figure 20 is
an example of a keyword that would be
used (Google AdWords).
Google Adwords
Customer Loyalty
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Figure 20: Google Adwords
Figure 21: AppCard
MarketingPlan
13
Marketing Section on Dashboard
Before the grand opening two window clings will be put up in order for potential customers walking by as well as flyers given to local
businesses. The grand opening will be on April 1, 2017. The flyer as shown in figure 23 will be available to potential customers at the YMCA,
The Fresh Market, and suppliers at the Famer’s Market. The grand opening will have games, prizes, and and giveaways for all that attend. If
the potential customers downloads AppCard, they are put into a raffle for free smoothies and juices for a month.
The Unity Plaza, an amphitheater in Brooklyn Center, has daily free yoga and boot camp sessions and nightly events such as free dance
lessons and concerts. The first weekend in April 2016 there was a free concert at The Unity Plaza. In April 2017, Fresh Garden Eatery will be
teaming up with the plaza to sponsor an event that night. Fresh Garden Eatery will sponsor yoga sessions and hand out samples to those who
attend prior to the grand opening. A free yoga session is shown in figure 22.
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Grand Opening
The general managers will be able to access the dashboards through the POS used which is ShopKeep. The dashboards are used to track
business trends relating to the store on any given day, week, month, or year. Above in figure 24 is a snapshot of the first three months
projected marketing dashboard which includes the company’s rational predetermined standings. The projection is for three months
starting on the grand opening , April 1, 2017 and ending on June 30, 2017.
Figure 23: GO Flyer
Figure24:
Dashboard
Figure22:UnityPlaza
MarketingPlan
14
Social Media $18,837.36
Google Adwords $2,250
AppCard $0
Emails via MailChimp $0
Wrapped Vehicle $4,000
Booth $1,800
2 Window Clings $354.24
2,000 Brochures $300
2,000 Flyers $88.24
500 Coupons $105
5 Magazine Ads $8,970
Coupons for FM $416
Total $36,621
Feb March April May June July Aug Sept Oct Nov Dec Jan
Social Media
Google Adwords
AppCard
Emails via MailChimp
Wrapped Vehicle
Farmer’s Market
Booth
Window Clings
Brochures
Flyers
Coupons
Magazine Ad
Coupons at Farmers
Market
Digital Advertising
Visual Advertising
Grand Opening Promotions
Printed Sales Promotions
Budget
Digital Advertising Visual Advertising
GO Promotions Printed Sales Promotion
Marketing Budget Breakdown
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Figure 25: Budget
Table 3
Table 4
The marketing budget for the restaurant is
10% of first year’s sales. With Fresh Garden
Eatery being so new, it is important that
the marketing communications are
effective and successful in order to attract
loyal customers. The marketing plan
focuses on the demographics of the
targeted customers for Fresh Garden
Eatery and is geared to relate to their lives.
A number of different marketing tactics will
exist in order to attract the most loyal
customers to the store. Table 3 shows the
breakdown of where and how much would
be spent on the marketing plan. Table 4
shows the schedule for when the the
respective marketing tactics will be used
throughout the first year. Fresh Garden
Eatery spent $36,621 in the first year in
order to get an immense presence and
create lifetime loyal customers.
ManagementPlan
15
Fresh Garden Eatery has chosen to operate as a Limited
Liability Company (LLC). An LLC is popular for a small business
start-up in America due to its simplicity, protection and ease of
use. LLCs generally have no restrictions on the number of
members allowed, and allow members to have flexibility in the
management of the company. Florida LLCs can select diverse
types of distribution for profits and unlike common
partnerships, where the split is 50-50, an LLC has room for
flexibility. Another benefit is that all LLC owners are protected
from personal liability for business debts and claims. Meaning
that if Fresh Garden Eatery would happen to owe money or
face a lawsuit, only the assets of the business are at risk not
the personal assets of the members (BizFilings, 2016). The IRS
does not consider an LLC to be a separate entity for tax
purposes and the partners are treated like a traditional
partnership. Within this the income is "passed through" the LLC
to the LLC owners, and the owners report the business's
income on their personal income tax returns. In other words,
the federal income taxes pass through the LLC itself and falls
on the individual LLC members as shown in figure 26.
This benefits the members of Fresh Garden Eatery because taxes
will not be payed at a business level but instead at an individual
level. Ultimately, because Florida is one of the rare states that
does not collect income tax for individuals, LLC members will not
owe state income tax on their LLC earnings (BizFilings, 2016)
Figure 26: Take Control of How You
Count Conversion
Source: IRS LLC
Filing for name $50.00
Filing Articles of Organization $125.00
Appoint a Registered Agent Varies
Tax and Regulation Requirements No fee
Filing for Annual Report $138.75
Total costs to file $313.75
Operating as a LLC
In order to cost effectively run Fresh
Garden Eatery, a small well-balanced
staff must be constantly maintained in
order to counteract the narrow profit
margins of the business. A schedule
has been implemented for Fresh
Garden Eatery structured for peak and
low hours of operation, refer to
Appendix F for more details. The
proposed staff consists of one lead
manager, supervisors, and six part
time employees. Prior to this has been
taken into account that brings Fresh
Garden Eatery’s yearly payroll to
$115,970.80.
Management Roles
Oversee all operations, as well as make three
weekly trips to the farmers market to make
sure an efficient inventory is maintained at all
times. The lead managers will also be paid a
yearly salary of $36,000.
Oversee shift of the part-time employees
and will be paid on a base hourly rate of
$10.50 per hour.
Six part time employees will work in the
assembly lines. They will all be paid at a rate
of $8.05 per hour (Florida’s minimum wage).
Manager
Shift Leader
Associate
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Table 5
For daily operations to run as smooth as
possible, a weekly schedule was created to
make sure the business is never understaffed,
which can be found in more detail in appendix
G. Since it is a small business with a single
location, no one will be hired exclusively as an
HR manager. Training the manager to be fully
equipped in handling human resource issues is
essential. To avoid any potential liability, the
manager will have to be well trained in
employment law. There is a risk in doing this,
but the exemptions for part-time workers are
far less intensive. With the schedule already
having been created, issues of hours and, as a
result, benefits can be avoided in compliance
with the Fair Labor Standards Act. Through this
extensive HR training, any manager hired by
the company will be more than capable of
handling any HR issues that may arise.
OperationalPlan
Fresh Garden Eatery is opening by the second of 2017 on April 1st. In order to open most efficiently, a detailed list of activities, tasks, and
sub-tasks must be completed with the quarter most important items highlighted. All deadlines are scheduled to allow for extra time in case
complications arise. For a more detailed work breakdown please see appendix H.
Fresh Garden Eatery takes pride in making sure their customers receive the freshest produce available. The restaurant assures freshness
and will be recognized by the quality of produce served and the lack of waste created. Fresh Garden Eatery is partnering with the local
Jacksonville Farmers Market where fresh products are valued and supplied on site daily. Fresh Garden Eatery will keep an accurate, up to
date inventory with the help of ShopKeep to make sure to keep the brand‘s promise. Fresh Garden Eatery will make multiple trips weekly in
the wrapped vehicle to receive the produce needed . The plan is to establish long lasting supplier-relationships with the local vendors, with
some key vendors including Anna-Maria’s, Christine's, and Albert Produce (Jacksonville Farmers Market, 2016).
16
Implementation Timetable
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Logistics/ Supply Chain Management
Anticipated Completion Date Task
December 28th, 2016 Sign Lease for 150 Riverside Ave Jacksonville, FL
March 2nd, 2017 Full Store Renovation
March 22nd, 2017 Hiring of Staff and Employees
April 1st, 2017 Grand Opening!
Physical Requirements
Fresh Garden Eatery will make sure all the necessary
precautions are taken in order to follow Florida Health
and Safety codes. The facility is being renovated meaning
pre-existing health related concerns will be done during
the remodeling. In addition to this, hand washing, food
handling, and food storage are addressed. Food
preparation areas will contain all the adequate supplies
such as hot water, cold water, towels , soap, and other
sanitary materials. Fresh Garden Eatery will acquire all
necessary measures in order to prevent food borne
illnesses, as the employees will learn though extensive
training that misconduct in any form will not be
tolerated. According to Florida Health (2016), restaurant
establishments are required to have a food manager who
has passed a written test that demonstrates the required
knowledge regarding food protection. Below is the
restaurant floor plan where regulation will take place in
order to pass requirements. Figure 27: Floorplan
Table 6
Figure 28: Supply ChainNicole
PrimaryDemandForecast
17
Freshii:
The next company tied for a weight of 27.50%. Their menu is closely aligned with Fresh Garden Eatery as they offer bowls, smoothies, and
juice but in addition have a few other options which may have raised their average ticket price. Freshii ultimately ended up receiving a
weight of 27.5% because their business was not in Jacksonville, FL, and they have a more extensive menu (Freshii, 2016).
Weighted Daily Customers 100
Weighted Ticket Price $9.69
Weighted Daily Revenue $969
Weighted Annual Revenue $348,840
Table 7
Finally after weights are effectively determined an average weighted
revenue could be calculated. This was done by taking each individual
revenue multiplied by the respective weight, (providing weights add up
to 100%) then adding up the weighted revenues. Another way this can be
done is in excel where a sum product of weights and revenues can be
calculated. After all this had been completed the weighted average was
determined to be $348,840.
Name Robek’s Fresh
Smoothies
Freshii Fresh Healthy Café Yo-Yo Juice
Location Jacksonville Beach, FL Pensacola, FL Miami, FL Tampa, FL
Population 842,583 52,703 417,650 352,957
Ticket Price 8.00 12.50 10.00 7.00
Customers 94 100 121 60
Revenue 270,720 405,000 435,600 151,200
Weight 35.00% 27.50% 27.50% 10.00%
The primary demand forecast was based remotely on weights of the competition.
Robeks:
The highest weight was given to Robek’s Fresh Smoothies at 35%, because it was a new store in the first year of business and also is located
in Jacksonville, FL. It was not weighted higher due to it being on Jacksonville Beach, which is influenced by peak seasons. During peak
season they get an average of 130 customers, while off season they get about 75. According to Frommer’s (2016) ”[in] North Florida
tourists flock here during the summer, from Memorial Day to Labor Day”. To get the average 130 customers was used for 4 months, and 75
customers for the remaining 8 months.
Fresh Healthy Café:
Fresh Healthy café is located in Miami, FL.. Their menu includs all of the aspects of Fresh Garden Eatery (quinoa bowls, smoothies, juices),
with additional items on the menu as well. Fresh Healthy Café received a weight of 27.50% like Freshii because of their location and
larger menu. Fresh Healthy Café also received a rating of 27.50%.
Primary Demand Forecast
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Yo-Yo Juice:
Finally Yo-Yo Juice received the smallest weight of 10%, since they are very
small and have multiple revenue streams like catering that could affect
their value.
SecondaryDemandForecast
18
131,500 daytime population
within 5 minute drive
9,757 people (7.42%) are aged
25-34 and are female
2,695(27.62%) eat out daily
112 (40%) visitors daily for Fresh
Garden Eatery
Step 1:
The number of daytime population in the area was found through
Loopnet, which is where 150 Riverside Ave is listed for lease. On the
website they listed the daytime population within 10 minutes as
263,000 people. It was then indicated that people would only drive 5
minutes to our store so it was then divided 263,000 people by 2 to get
the number used of 131,500 daytime people.
Step 2:
After determining the daytime population, the percentage of females
ages 25-34 (target market) was found by analyzing Jacksonville, FL in
SimplyMap. In our area there is a concentration of 10.35% of females
aged 25-34. This percentage was then multiplied by the daytime
population.
131,500*.0742 = 9,757
Step 3:
The number of times one buys a meal or snack from a restaurant was
computed through USHFC to be 5.8 a week. To get the daily amount
people eat out 5.8 was taken and then divided by 7 to get .83. Given
that the majority of the population eats 3 meals a day .83 was divided
to receive 27.62%.
(.83/3) * 100=27.62%
9,757*.2762= 2695
Step 4:
Next percentage of people who in Jacksonville, FL “agreed a lot-
consider [their] diet to be very healthy” was determined through
SimplyMap (2016). The average of this percentage was 10.34%.
2695*.1034= 279
Step 5:
Fresh Garden Eatery is the third competitor in the 2.5 miles radius,
but instead of dividing the customers evenly different weights were
applied to each business. Smoothie King was weighted at 50% due
to their strong brand value which is more recognizable. Fresh
Garden Eatery was weighted at 40% because the ability to get a full
meal is something that the competitors are not target. Lastly
Nature’s Table was weighted at 10% because Nature’s Table
received a weight of 10% because they are in the Everbank Center.
Based on multiple Yelp reviews these customers either worked in
the building or were downtown for business. Their location limits
their customer base to predominately business people in the area.
Also, their hours are M-F 7AM to 4PM (Natures Table, 2016).
Smoothie King: 279*.50= 139 daily customer
Fresh Garden Eatery: 279*.40= 112
Nature’s Table: 279*.10= 28
The daily expected customers for Fresh Garden Eatery as found by analyzing the target demographics in Brooklyn Station and basing
it on the 65,155 people residing in the area. The step-by-step process that was used is described below:
Weighted Daily Customers 112
Weighted Ticket Price $9.69
Weighted Daily Revenue $1085
Weighted Annual Revenue $390,700
Table 8
279(10.34%) are very health
conscious
Secondary Demand Forecast
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
CombinedDemandForecast
19
Combined Demand Forecast
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
After extensive evaluation of the primary and secondary demand forecasts weights must be determined. In order make predictions for
sales and be able to do any of the future financial forecasts a weighted average must be determined. With that being said a 40% weight
was determined for the primary demand forecast. There are a couple reasons for the rating, one being it was less specific. The fact that
is was based off of other companies was indeed beneficial, however there are many variables in the comparable companies which can
cause numbers to quickly become misleading. One of these errors includes companies being located outside of the city of Jacksonville,
FL because every city has a slightly different customer base making it hard to make a precise prediction based on all the different
locations. Another major reason for the lower rating was the fact that some of the comparable companies in which data had been
received had alternative sources of revenue outside of the daily smoothie operations. For example, Yo-Yo Juice recorded the lowest
amount of daily customers, however after talking with the manager on the phones she explained that the company also takes part in a
catering service. This leading to higher revenues despite the below average daily customer base.
On the contrary the secondary forecast has many reasons that it was weighted at 60%. The first reason being it was area specific. Data
relative to the area that Fresh Garden Eatery is going to be located Is highly valuable. The secondary forecast took into account many
market specific factors, such as the target market, percentage of people who eat out, people who are very health conscious, and the
daytime population. Knowing Jacksonville and more specifically Brooklyn Station information could be helpful in future development in
order to gain more market share which will increase the daily and yearly sales. Altogether the secondary data was more accurate due to
the numbers being specific to Brooklyn Station.
After the two weights had been placed on the respective demand forecasts a final weighted average demand could be determined for
Fresh Garden Eatery. The amount of daily customers Fresh Garden Eatery can expect to have is 108, bringing their yearly revenue to
$376,747. This yearly revenue will not be achievable until the third year of operation once Fresh Garden Eatery has fully established
their self in their respective market.
Weighted Daily Customers 108
Weighted Ticket Price $9.69
Weighted Daily Revenue $1,047
Weighted Annual Revenue $376,747
Weighted Daily Customers 100
Weighted Ticket Price $9.69
Weighted Daily Revenue $969
Weighted Annual Revenue $348,840
Weighted Daily Customers 112
Weighted Ticket Price $9.69
Weighted Daily Revenue $1085
Weighted Annual Revenue $390,700
Primary Secondary
60%40%
Table 9
KeyFinancials
20
Financials
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Rent
Fresh Garden Eatery has a slightly higher than average rent.
The average price per square foot of rent at Fresh Garden
Eatery is $33.14 and with the store totaling 1394 square feet,
it will be $46,199.95 annually or $3,850 monthly.
Income Statement
Fresh Garden Eatery is located in Jacksonville Florida and has a
weighted average demand of $376,747.20, however that will
be achieved in the 3rd year of operation. Due to data found on
IBISWorld (2016) sales are expected to increase by 1.6%, 1.7%,
1.7%, 1.6%, respectively leading into the fifth year of
operation. Over the future of the company, 5th year sales are
projected to be $402,234.53. The net income is $19,323.73 in
year 1 and year 5 net income will be $40,323.73 as shown in
figure 24. In Florida there is no income tax however in order
for consistency a corporate tax rate was used. Fresh Garden
Eatery falls into the minimum bracket of 15% for companies
making below $50,000 (Essentials of Corporate Finance 9th
Edition )
Start Up Costs
Payback Period
WACC
NPV & IRR
Currently the WACC computation for Fresh Garden Eatery is 7.98%.
This has been calculated by multiplying the Capital Structure by the
Cost of Capital by the After Tax Adjustment. Adding both the
computation through debt and through equity. The computation for
debt was 30 % capital structure * 8% cost of capital * 85% after tax
(Essentials of Corporate Finance 9th Edition for taxes) adjustment.
While the cost of equity was calculated at 70% capital structure *
20% cost of capital. Resulting in a total WACC of 16.04%. You can
reference appendix I for addition information on Weighted Average
Cost of Capital.
The net present value (NPV) of Fresh Garden Eatery is $56,568,
which was calculated using the WACC and all the cash flows over the
next five years and then implementing the horizon value of the
company in year 5. The internal rate of Return for Fresh Garden
Eatery is 22.63%. Since both the NPV and IRR are positive the
project should be pursued. You can reference appendix I for
addition information.
Fresh Garden Eatery, will meet the payback period in the fifth year
of option. Once the horizon value is factor in. Do to the projected
cash flow balances being lower in the initial years of operation. But
grow after the first couple years once Fresh Garden Eatery cuts
back on advertising expenditures. Once factoring the horizon value
in year five Fresh Garden Eatery will meet the fifth year payback
period. After further calculations that exact amount of time is 4.35
years see Appendix I for details.
There are many factors contributing to the start up cost of
Fresh Garden Eatery. The facility that is being rented must
under go a thorough renovation in order to make it capable for
operation in Florida. The renovation costs are estimated to be
$55,619.34. The estimated equipment cost for the Health
Garden Eatery is expected to be $36,628.78. Accessories for
the restaurant are expected to relatively low at almost $6,000.
The estimated start up cost for Fresh Garden Eatery is $175,00
dollars which is detailed on appendix I. The LLC members of
Fresh Garden Eatery are expected to pay 70% of these costs
which is funded by equity. The total funding from equity is
$122,500. The remaining 30% is expected to be funded by debt
through a loan. This leaves the investors/stakeholders in Fresh
Garden Eatery paying the remaining $52,500. providing the
Required Rate of Return is meet.
Figure 24; Net Income
$-
$10,000.00
$20,000.00
$30,000.00
$40,000.00
$50,000.00
Year 1 Year 2 Year 3 Year 4 Year 5
NET INCOME YEAR TO YEAR
Figure 23: Payback Period
Weighted Average Cost of
Capital is 16.04%
Current NPV is $37,483
Internal Rate of Return is
22.63%
Payback Period is 4.35
years
Conclusion
21
Fresh Garden Eatery is a smoothie, juice, and quinoa bar located in the Metropolitan area of Jacksonville, FL.
This concept was chosen as the smoothie and juice industry has low barrier to entry and is expected to grow 2.2
percent in 2017 up to 2.35 billion dollars (Alvarez, 2016). The target customer in particular are females who are
health conscious and between the ages of 25-34 as well as those seeking a healthy lifestyle.
Products sold in the Fresh Garden Eatery will be organic, non-GMO, dairy free, and locally sourced. Customers
will have the option to fully customize their smoothies and juices as well as their quinoa bowls. Smoothies are a
viable and healthy option as a meal replacement as 41% of respondents to Gallo-Torres survey (2015) agree
they are easy to drink on the go. There has been a 24% increase in quinoa offerings on menus in the last year
and with this option on the menu those with gluten restrictions will be able to dine at Fresh Garden Eatery
(Kelter, 2016). Fresh Garden Eatery will be using all natural dine-in utensils and dishes as well as compostable
take away containers.
Conclusion
Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
Future Developments
Fresh Garden Eatery should not only focus on current success, but also take future development into consideration in order to
expand the brand. Analyzing the value chain of the business, includes improving inbound logistics, which means Fresh Garden Eatery
needs to precisely choose their raw materials. With improved inbound logistics, it will allow the company to expand beyond only
vegetarian offerings and include meat as a protein for the quinoa bowls. Improving efficiency of the supply chain will also allow for
Fresh Garden Eatery to further broaden the menu offerings. Advanced employee training will be used in order to educate the
employees to be more skillful and efficient at work in order to accelerate the operation and save time for customers. An added
revenue stream includes bottled juices to-go, which are picked from the most popular mixed juices. In the future there will be a
membership program where loyal customers will be able to choose their own juices to be bottled and sold in bulk. The bottled juices
target customers who love the brand but do not have the time to visit as often as they would like. ShopKeep has the ability to
integrate online ordering. Once Fresh Garden Eatery has had the time to analyze their customers, mobile ordering will be
implemented. Knowing the customer before implementing will help in increased efficiency. A feature of the online ordering will
include being able to track how close the customer is so when they arrive their smoothie or juice is still cold, and quinoa bowl is still
hot. After the first five years of business, Fresh Garden Eatery wants to expand their store count in Florida through franchising.
Having extensive resources in place to support franchisees with set up, sourcing, and marketing is what is needed to run a successful
Fresh Garden Eatery franchise.
After further evaluation of the projected financials of the Fresh Garden Eatery there are a couple valuable takeaways for the investors.
After five years of cash flows had been calculated taking in to account changes in working capital, the NPV for the Fresh Garden Eatery is
greater than zero based on the horizon value. Another key take away is that the IRR is greater than the Weighted Average Cost of Capital
both resulting in favorable situation for investors where they should choose to invest.
References
Alvarez, A. (2016, September). Juice & Smoothie Bars in the US. Retrieved from IBISWorld Database.
Atrium Dumbo. (2016). Our Menu. Retrieved from http://www.atriumdumbo.com/our-menu/
AppCard. (2016). Retrieved from AppCard.com
Bell, D. (2010, March 16). 8 Ways to Go Green and Save on Your Taxes. Retrieved from http://www.usnews.com/news/energy/slideshows/tax-
incentives-for-going-green
Bixler, B. (2014, June 30). Jamba Juice and Other Top Smoothie and Juice Franchises. Retrieved from Franchise Chatter
http://www.franchisechatter.com/2014/06/30/franchise-chatter-guide-how-the-jamba-juice-franchise-became-a-leading-health-brand-that-has-no-
problem-attracting-millennials/
BizFilings, 2016. Florida LLC. Retrieved from BizFilings.com
Bloom, B. (2016). Juice and Juice Drinks. Retrieved from Mintel Database
BluePrint. (n.d.). Retrieved from https://www.blueprintmarketing.com/blog/
Carty, S.L. (n.d.) Food Service Industry: Labor Cost Standards. Retrieved from http://smallbusiness.chron.com/food-service-industry-labor-cost-standards-
13911.html
City Of Jacksonville. (n.d.). COJ.net - Welcome. Retrieved from http://www.coj.net/
Crust USA (2016). Retrieved from http://www.crust-usa.com
DaMers, J.(2014, August 11). The Top 10 Benefits Of Social Media Marketing. Retrieved from
http://www.forbes.com/sites/jaysondemers/2014/08/11/the-top-10-benefits-of-social-media-marketing/#1887a52a2a4d
Ellison, S. (2015, September 28). How Jamba Juice is becoming more than just a smoothie store. Retrieved fromhttps://www.innovationleader.com/how-
jamba-juice-is-becoming-more-than-just-a-smoothie-store/
Entrepreneur. (n.d.). Tropical Smoothie Cafe Franchise Information. Retrieved from Entrepreneur
https://www.entrepreneur.com/franchises/tropicalsmoothiecafe/308831
EVSolutions. (2014, May 7). The Benefits of Electric Vehicle Charging For Businesses. Retrieved from EVSolutions http://www.evsolutions.com/blog/the-
benefits-of-electric-vehicle-charging-for-businesses
Florida Health. (2016). Hygiene Codes and Standards & What is a Food Manager. Retrieved from http://www.floridahealth.gov/environmental-
health/food-safety-and-sanitation/food-manager-code-standards.html
FoodPeople. (2016). Menu Trends. Retrieved from https://thefoodpeople.co.uk/menu-trends
Freshii. (2016). The Freshii Story. Retrieved from Freshii https://www.freshii.com/us/about
Fresh Healthy Café. (2016). Retrieved from http://www.freshrestaurants.com
Gallo-Torres, J. (2015, March). Smoothies and Shakes – US – March 2015. Retrieved from Mintels
Gilliam, D. (2016, June 14). The Brooklyn Riverside Sells for $58 Million. Retrieved from http://www.bizjournals.com/jacksonville/news/2016/06/14/the-
brooklyn-riverside-sells-for-58-million.html
Google Finance. (n.d.). Jamba, Inc. Retrieved from Google Finance https://www.google.com/finance?cid=706238
Google Adwords. (2016) Get your ad on Google today. Retrieved from https://adwords.google.com/home/#?modal_active=none
Google (2016). Popular Times. Retrieved from https://support.google.com/business/answer/6263531?hl=en
IBISWorld (2016, January). Healthy Eating Index. Retrieved from IBISWorld Database
IBISWorld. (2016, September). National average minimum wage. Retrieved from IBISWorld Database
IRS LLC, 2016. IRS Filing Requirements for a CheckBook IRA LLC. Retrieved from http://www.checkbookira.com/irs-filing-requirements-checkbook-ira-llc/
Jamba Juice. (n.d.). Jamba Juice innovation bar. Retrieved from Jamba Juice http://www.jambajuice.com/campaigns/innovationbar?alias=innovationbar
Jacksonville Farmers Market. (2016, October). Retrieved from http://jaxfarmersmarket.com
Jacksonville Magazine. (2016). Retrieved from http://www.jacksonvillemag.com
John, J. (2014, May 05). ChargePoint and Schneider Partner in a Touch EV Charging Field. Retrieved from
https://www.greentechmedia.com/articles/read/chargepoint-and-schneider-partner-in-tough-ev-charging-field
Kelter, D. (2016, September). Innovation on the Menu – US – September 2016. Retrieved from Mintel Database
Klemky, D. (2014, March 26). The benefits of EV charging stations. Retrieved from https://www.reminetwork.com/articles/the-benefits-of-ev-charging-
stations/
References Page
22
References
Kueber, P. (2011, March 17). Put A Bulb In It: 24 Upcycled Pendant Lights Made From Thrifty Vintage Treasures. Retrieved from
http://retrorenovation.com/2011/03/17/put-a-bulb-in-it-24-upcycled-pendant-lights-made-from-thrifty-vintage-treasures/
Lafferty, J. (2014, August 12). STUDY: 84 Percent Claim Facebook Offers Can Influence a Purchasing Decision. Retrieved from
http://www.adweek.com/socialtimes/study-84-percent-claim-facebook-offers-can-influence-purchasing-decision/437109
Loopnet. (2015) 150 Riverside Avenue Demographics. Retrieved from http://www.loopnet.com/listingdemographics/18455653/
MailChimp. (2016). Retrieved from MailChimp.com
Natures Table. (2016). Retrieved from http://naturestable.com
Nation's Restaurant News. (n.d.). Most popular limited-service beverage and snack restaurants in the United States in 2015*. In Statista - The Statistics Portal.
Retrieved from Statista https://www.statista.com/statistics/294888/most-popular-limited-service-beverage-snack-restaurants-us/
Nozari, E. (2015, March 10). Why Are Grain Bowls Suddenly Everywhere. Retrieved from https://www.zagat.com/b/why-are-grain-bowls-suddenly-
everywhere
Owen, J. (2016, April). Grain and Rice – US – April 2016. Retrieved from Mintel Database.
Plug In America. (n.d.). State & Federal Incentives. Retrieved from https://pluginamerica.org/why-go-plug-in/state-federal-incentives/?location=fl
QSR Magazine. (2016, May 4). Freshii Opens Seven Stores in Four Countries in Five Days. Retrieved from QSR Magazine
https://www.qsrmagazine.com/news/freshii-opens-seven-stores-four-countries-five-days
QSR Magazine. (2016, July 19). Tropical Smoothie Cafe Signs 80 Franchise Deals. Retrieved from QSR Magazine https://www.qsrmagazine.com/news/tropical-
smoothie-cafe-signs-80-franchise-deals
Reece, T. (2005). How to Use Coupons to Promote Your Business. Retrieved from http://www.businessknowhow.com/marketing/couponing.htm
Regency Centers. (2016). Brooklyn Station on Riverside. retrieved from http://www.regencycenters.com/retail-space/fl/jacksonville/brooklyn-station-on-
riverside#.WB_qzKOZNbU
Reiter, A. (2015, June 13). Millennials Eat Out More - and Spend More When They Do - Than Non-Millennials. Retrieved October 27, 2016, from Food Network
http://blog.foodnetwork.com/fn-dish/2015/06/millennials-eat-out-more-and-spend-more-when-they-do-than-non-millennials/
Revel Systems. (2016. Retrieved from revelsystems.com
Richards, (n.d.). Cost of Employee Benefits for an Employer. Retrieved from http://smallbusiness.chron.com/cost-employee-benefits-employer-2694.html
Roberts, W. (2016, July) Fruit – US – July, 2016. Retrieved from Mintel Database
Robek’s Fresh Smoothie. (2016) Retrieved from http://www.robeks.com
Ross, S. A., Westerfield, R., & Jordan, B. D. (2015). Essentials of corporate finance. 9th Edition. Boston, MA: McGraw-Hill/Irwin.
Sassy Eats. (2015, March 5). One Pot Mexican Quinoa Bowl. Retrieved from http://sassyeats.com/quinoa-mexican-bowl/
Seng, K. (n.d.) Jacksonville Skyline Florida Duval County Panorama. Retrieved from http://captainkimo.com/jacksonville-skyline-florida-duval-county-
panorama/
Smoothie King. (2016). Retrieved from http://www.smoothieking.com
ShopKeep. (2016). Retrieved from http://www.shopkeep.com/#step-4
SimplyMap. (2016, October). Jacksonville, FL. Retrieved from SimplyMap
SpyFu. (2016). Retrieved from http://www.spyfu.com
StarFishSigns, 2016. 5 signs you can’t ignore. Retrieved from http://www.starfishsigns.com/vehicle-wrap-advertising-statistics-you-cant-ignore/
Steem It. (2015). Healthy Green Smoothie Recipies. Retrieved from https://steemit.com/food/@rowbvp/healthy-green-smoothie-recipes
Talmadge, C. (n.d.) PB2: WHAT IT IS—AND 20 WAYS TO USE IT! Retrieved from http://www.eatthis.com/pb2
Taste Magazine. (n.d.) Retrieved from http://www.jacksonvillemag.com/about/taste-magazine/
The Riverside Market. (2016, October). The Riverside Market. Retrieved from Facebook
Topper, A. (2016, May). Vegetables- US – May 2016. Retrieved from Mintel Database
TouchBistro. (2016). Retrieved from http://www.touchbistro.com
Tripod. (n.d). Smoothie Recipies. Retrieved from http://smoothierecipes.tripod.com/
Tristano, D. (2016). Are Build-Your-Own Snacks The Next Big Food Trend?s Retrieved from
http://www.forbes.com/sites/darrentristano/2016/03/04/are-build-your-own-snacks-the-next-big-food-trend/#1efdb9c980eb
References Page (continued)
23
References
References Page (continued)
24
Tropical Smoothie Café. (2016). Fresh Food. Retrieved from Tropical Smoothie Café https://www.tropicalsmoothie.com/fresh-food/limited-time-offers-food
United States Census. (2015). Jacksonville city Florida QuickFacts from the Us Census. Retrieved from
http://www.census.gov/quickfacts/table/PST045215/1235000
USHFC (n.d.) About the United States Healthful Food Council. Retrieved from http://ushfc.org/about/#fancy-form-delay
WrapCity, 2016. Car Wrap City. Retrieved from https://carwrapcity.com
Yelp. (2016). Retrieved from https://www.yelp.com/biz/natures-table-jacksonville
AppendixA:MarketingDemographic
25
Appendix A: Marketing Demographic
Fresh Garden Eatery has an impressive marketing plan to appeal to the people within the area as well as tourists who visit
downtown Jacksonville Florida. A diverse promotional mix was utilized to assure the target market and those who are interested in
the concept are reached. Fresh Garden Eatery pride themselves on fresh produce and quality food and have chosen to implement
that to all through various tactics.
Product: Fresh Garden Eatery strives to deliver the highest quality
produce and assures a satisfying meal to every customer.
Price: Our prices align with the quality of our produce from our
local farmers market. Produce is brought in Monday, Wednesday,
and Friday afternoon to assure freshness. Our prices are
reasonable for our target market and are set at a competitive
level for demand.
Place: Our location exists within a complex called Brooklyn Station
in downtown Jacksonville Florida. The current businesses in the
complex make our eatery an ideal local. Also, downtown
Jacksonville estimates 9.3 million visitors annually making our
location an attraction for tourists.
Promotion: Social media advertising, online advertising and
traditional advertising will be used to suit our target market. Our
eatery will target the residing area as well as the visitors during
our peak months.
4 P’s
Figure 31: Target Market
Source: Talmadge, (n.d.)
Marketing Tactics
A large portion of the budget is spent on social media advertising. The target customer use social media often, so it is crucial to get
advertisements on social media. The wrapped truck will generate thousands of impressions for a relatively low cost. People will see the
truck driving all over the city with the logo on it and want to come see what the restaurant is all about. One way to spread awareness is to
open up a stand at the local farmer’s market. Doing it once a month will allow people other than our target market to have a chance to try
the products. Google Adwords will provide the chance to be seen by people who are using Google. By paying $.15 per click, Fresh Garden
Eatery will become one of the first links that pops up. The competitors in the area do not use Adwords, so this will be an advantage. Two
large window clings for the front of the restaurant will give people the chance to see the brand before the grand opening. The visual with
the logo included will generate interest before the doors even open. The flyers and brochures will be passed out prior to opening with the
info on the window clings. The more people that are exposed to the brand, the better the grand opening turn out will be. Finally, the
membership is implemented through the mobile app and offers exclusive deals.
Marketing Budget
The customer demographic was determined by the market
trends in figure 32.
Figure 32: Market Trends
Source: BluePrint Marketing
AppendixB:Menu
26
Feelin’ Fruity
Strawberries, coconut milk, bananas and soy protein
Veggie Paradise
Spinach, kale, apples, celery, cucumbers, almond milk and honey
Protein Central
Banana, whey protein, coconut, blueberries and coconut milk
Berries on Berries
Raspberries, strawberries, blackberries and almond milk
Nilla
Vanilla, soy protein, honey, almond milk and bananas
Lemonade K
Pineapple, kale, cucumber and lemon
Fruity Fun
Strawberries, pineapple, bananas and blueberries
Flamango Mango
Mangos, pineapple, orange, and whey protein
Beet-It-Up
Beets, strawberries, blueberries, spinach, mangos and
coconut milk
Orange you Madness
Carrots, mango, orange, banana and almond milk
Berries for Grantate
Pomegranate, strawberries, blueberries and soy protein
Fresh Herbs:
Cilantro
Mint
Parsley
Dill
Basil
Oregano
Grains:
Organic Quinoa
Fruit (2):
Blueberries
Apples
Avocado
Banana
Blackberries
Raspberries
Coconut
Mango
Melon
Orange
Pear
Pineapple
Strawberries
Pomegranate
Veggie (2):
Broccoli
Beets
Corn
Cucumbers
Carrots
Red Onions
Green Onions
Edamame
Cauliflower
Celery
Spinach
Kalamata olives
Liquid:
Almond Milk
Coconut Milk
Honey
Toppings:
Whey protein
Soy protein
Almonds
Vanilla
Cinnamon
Pistachio
Chia
Figure 33: Bowl Menu
Figure 34: Smoothie & Juice Menu
Appendix B: Menu
Smoothie & Juice
8oz: $3.99 12oz: $4.99 16oz: 5.99
Bowl
1 Cup: $7.49 2 Cups: $8.99
AppendixC:ISComparison
27
System/Features Revel ShopKeep TouchBistro
Accounting
Integration
 (QuickBooks)  (QuickBooks)  (SHOGO, Xero)
Marketing
Integration
 (Multiple 3rd
party)
 (MailChimp) NO
Cloud-Based   NO
Inventory
Management
  
Employee
Management
   (7Shifts)
Menu
Customization
  
Price 1st $119, 2nd $79
$49 per terminal $69 for 1, $129 for
2
Customer Loyalty
 (Multiple 3rd
Party)
 (AppCard)  (SmoothPay)
Online Ordering
 (Revel as well as
multiple 3rd
party)
  (Just Eat)
Table 10 : IS Comparison
Appendix C: IS Comparison
AppendixD:ShopKeepDashboards
28
Manager Dashboards
Employee/Sales Lead Dashboards
ShopKeep has a dashboard integrated into the system that is able to track average ticket price as well as average customers which the
manager will check daily. Along with the POS, showing a dashboard ShopKeep now has the option to check the dashboards on the go
through their mobile application. The custome dashboards as shown above will be viewed monthly by the manager. There dashboards
include food cost percentage, wage cost percentage, and basket analysis dashboards. Food cost percentage is important to track because
this will allow the manager to quickly see the relationship between the food cost and food sales. If food cost exceeds 34% the manager will
need to analyze why the food costs have increased. The restaurant industry average for food cost percentage is 32%, but since the quality
of the food is higher the benchmark used is 34%. Wage cost percentage is important to check monthly, because at certain times of the
season the amount of employees is different, making sure the ratio of employees to sales is balanced is necessary. The benchmark the
manager will be using is 29% as identified as the industry average for limited-service restaurants. Another factor the manager will need to
analyze is in the summer months should be the peak of the wage cost percentage as that is the peak season for the business. The next
dashboard the manager will see if the basket analysis. This allows for the manager to track how many items are being purchased. If there is
a decline in how many items the customers purchase the manager is able to approach the problem immediately. Since there is no industry
average for the basket analysis Fresh Garden Eatery has established 2 items as the minimum for the benchmark because if two items are
not being bought the ticket price will decrease. Altogether the manager needs to track food cost percentage, wage cost percentage, and
basket analysis in order to run Fresh Garden Eatery Efficiently (Carty, n.d.)
The employee and sales lead dashboard will include the conversion rate and customer satisfaction. Conversion rate will show how many
people actually buy items when they walk in the store. This is important for employees and sales lead to see everyday because if the
conversion rate is trending low they are able to confront the problem. The benchmark used for conversion rate is 90%. If the conversion
rate were to go below this percentage employees and sales lead should review the problem. Customer satisfaction will be tracked
through online surveys and this dashboard is relevant because if there are an unusual amount of complaints employees and sales leads
are able to reflect back on the situation immediately allowing for the problem to be solved. The benchmark set for complaints is 4,
because if there are more than 4 complaints in a given month there is an underlying bigger issue. The employees will be monitoring
dashboards weekly in order to stay on top of the an issues to arise.
Appendix D: ShopKeep Dashboards
Figure 35: Food Cost %
0%
10%
20%
30%
40%
JAN
FEB
MAR
APRIL
MAY
JUNE
JULY
AUG
SEPT
OCT
NOV
DEC
Food Cost %
Figure 36: Wage Cost %
0%
10%
20%
30%
40%
JAN
FEB
MAR
APRIL
MAY
JUNE
JULY
AUG
SEPT
OCT
NOV
DEC
Wage Cost %
Figure 37: Basket Analysis
0
1
2
3
4
JAN
FEB
MAR
APRIL
MAY
JUNE
JULY
AUG
SEPT
OCT
NOV
DEC
Basket Analysis
Figure 38: Conversion Rate
86%
88%
90%
92%
94%
96%
98%
100%
Conversion Rate
Figure 39: Customer Satisfaction
0
1
2
3
4
Customer Satisfaction
(Complaints)
AppendixE:WrappedSUV&Location
29
Wrapped Vehicle
Location
Figure 40: Wrapped SUV
Figure 41: Brooklyn Station
Source: Regency Centers (2016)
The Jacksonville Farmers Market is within 2 miles and according to their website (2016) they are open daily dawn to 6PM. Riverside
Arts Market is within .7 miles or a 12 minute walk, and according to their Facebook (2016), it is open every Saturday from 10AM-
4PM. Within the same complex there is The Fresh Market which is a healthy grocery store serving the Jacksonville area. The rest of
the stores in the complex include a clothing boutique, nail salon and a hair salon as shown in figure 41. Along the backside of the
location there is a 310 unit apartment complex that was more than 90% rented when it was opened in April 2015 (Gilliam, 2016). To
the left of the location is another apartment complex called “The 220 Riverside” which is a 294 unit complex that has also reached
over 90% since opening in May 2015. Next to 220 Riverside apartment complex is the Unity Plaza which is an urban park that also
hosts community events. Surrounding the location are multiple higher end restaurants, like Zoës Kitchen. To the front of the location
(across the street) there is a Winston Family YMCA which is a membership gym. Altogether the location chosen has many aspects
proving it is the best location for Fresh Garden Eatery.
Appendix E: Wrapped SUV & Location
General Manager
A general manager must have a college
degree as well as prior management
and food service experience. The lead
manager on at the restaurant will carry
the most responsibility. Some of their
responsibilities include keeping an
accurate inventory to make sure that
the business has all the necessary
items to carry out daily operations as
well as proper scheduling of shift
leaders and associate employees. It
will be their responsibility to go to the
local market multiple times a week to
make sure that a fresh stock of
inventory is kept at all times. Another
main quality valued for this positon Is a
passion for healthy foods, as well as a
healthy life style. The general manager
should also provide a detailed plan to
the shift leader to make sure that tasks
and shift are executed correctly and
effectively.
 Leadership
 Keeping accurate records
 Organization
 Accurately stocked & rotated
inventories
 Scheduling
Duties
AppendixF:EmployeeRoles
Shift leaders should have experience
similar to the general manager in
regards to leadership and food
service. They may be working
towards a college degree, but should
at minimum have a high school
diploma. A responsibility of the shift
leader involves completion of daily
tasks that are provided by the general
manager. Shift leaders will also be
responsible for opening and closing
out shifts a few days a week. When
the general manager is not present
shift leaders are responsible for
supervising associate employees.
Shift leaders must also be able to
direct employees on both closing and
opening procedures to ensure
cleanliness and proper food
standards when the manager is not
present.
 Organization
 Communication
 Leadership
 Overseeing associate operations
Shift Leader
Duties
Associate
Duties
Associates may or may not have prior
food service experience and should
have or be working towards a high
school diploma. The primary job of
an associate is to take and prepare
customer orders. Associates should
be kind and show a passion for a
healthy lifestyle. Associate
employees are also responsible for
consolidation of orders and serving
customers. They must also take part
in daily activities to ensure that the
stores remains clean and up to code
to provide a comfortable and friendly
environment. All employees should
take pride in their work and strive to
complete tasks well and in a timely
manner.
 Friendliness
 Health passionate
 Efficiency
 Team player
 Listening skills
 Work ethic
Figure 42: Organizational Structure
30
Appendix F: Employee Roles
MON 7:00
AM
8:00
AM
9:00
AM
10:00
AM
11:00
AM
12:00
PM
1:00
PM
2:00
PM
3:00
PM
4:00
PM
5:00
PM
6:00
PM
7:00
PM
8:00
PM
Shift:
7:30-
5:30
M M M M M M M M M M M
7:30-
2:00
P1 P1 P1 P1 P1 P1 P1 P1
7:30-
2:00
P2 P2 P2 P2 P2 P2 P2 P2
1:30-
7:30
P3 P3 P3 P3 P3 P3 P3 P3
1:30-
7:30
S1 S1 S1 S1 S1 S1 S1 S1
AppendixG:Schedule
Appendix G: Schedule
MON 7:00
AM
8:00
AM
9:00
AM
10:00
AM
11:00
AM
12:00
PM
1:00
PM
2:00
PM
3:00
PM
4:00
PM
5:00
PM
6:00
PM
7:00
PM
8:00
PM
Shift:
7:30-
5:30
M M M M M M M M M M M
7:30-
2:00
P1 P1 P1 P1 P1 P1 P1 P1
7:30-
2:00
P2 P2 P2 P2 P2 P2 P2 P2
1:30-
7:30
P3 P3 P3 P3 P3 P3 P3 P3
1:30-
7:30
S1 S1 S1 S1 S1 S1 S1 S1
MON 7:00
AM
8:00
AM
9:00
AM
10:00
AM
11:00
AM
12:00
PM
1:00
PM
2:00
PM
3:00
PM
4:00
PM
5:00
PM
6:00
PM
7:00
PM
8:00
PM
Shift:
7:30-
5:30
M M M M M M M M M M M
7:30-
2:00
P1 P1 P1 P1 P1 P1 P1 P1
7:30-
2:00
P2 P2 P2 P2 P2 P2 P2 P2
1:30-
7:30
P3 P3 P3 P3 P3 P3 P3 P3
1:30-
7:30
S1 S1 S1 S1 S1 S1 S1 S1 31
THURS 7:00
AM
8:00
AM
9:00
AM
10:00
AM
11:00
AM
12:00
PM
1:00
PM
2:00
PM
3:00
PM
4:00
PM
5:00
PM
6:00
PM
7:00
PM
8:00
PM
Shift:
7:30-
5:30
M M M M M M M M M M M
7:30-
2:00
P4 P4 P4 P4 P4 P4 P4 P4
7:30-
2:00
P5 P5 P5 P5 P5 P5 P5 P5
1:30-
7:30
P6 P6 P6 P6 P6 P6 P6 P6
1:30-
7:30
S2 S2 S2 S2 S2 S2 S2 S2
AppendixG:ScheduleContinued
Appendix G: Schedule
FRI 7:00
AM
8:00
AM
9:00
AM
10:00
AM
11:00
AM
12:00
PM
1:00
PM
2:00
PM
3:00
PM
4:00
PM
5:00
PM
6:00
PM
7:00
PM
8:00
PM
Shift:
7:30-
5:30
M M M M M M M M M M M
7:30-
2:00
P4 P4 P4 P4 P4 P4 P4 P4
7:30-
2:00
P5 P5 P5 P5 P5 P5 P5 P5
1:30-
7:30
P6 P6 P6 P6 P6 P6 P6 P6
1:30-
7:30
P3 P3 P3 P3 P3 P3 P3 P3
1:30-
7:30
S1 S1 S1 S1 S1 S1 S1 S1
SAT 7:00
AM
8:00
AM
9:00
AM
10:00
AM
11:00
AM
12:00
PM
1:00
PM
2:00
PM
3:00
PM
4:00
PM
5:00
PM
6:00
PM
7:00
PM
8:00
PM
Shift:
7:30-
5:30
S2 S2 S2 S2 S2 S2 S2 S2 S2 S2 S2
7:30-
2:00
P4 P4 P4 P4 P4 P4 P4 P4
7:30-
2:00
P5 P5 P5 P5 P5 P5 P5 P5
1:30-
7:30
P6 P6 P6 P6 P6 P6 P6 P6
1:30-
7:30
S1 S1 S1 S1 S1 S1 S1 S1 32
SUN 7:00
AM
8:00
AM
9:00
AM
10:00
AM
11:00
AM
12:00
PM
1:00
PM
2:00
PM
3:00
PM
4:00
PM
5:00
PM
6:00
PM
7:00
PM
8:00
PM
Shift:
10:30-
6:30
S1 S1 S1 S1 S1 S1 S1 S1 S1 S1
10:30-
2:30
P1 P1 P1 P1 P1
10:30-
6:30
S2 S2 S2 S2 S2 S2 S2 S2 S2 S2
AppendixH:ScheduleContinued
Appendix G: Schedule Continued
In order to identify when Fresh Garden Eatery will operate, Google (2016) popular times was analyzed for the surround businesses including
The Fresh Market and Smoothie King. From the information from these two businesses it was identified the best hours of operation would be
from Monday-Saturday 8AM-7PM, and Sunday 11AM-6PM . After analyzing the popular times it was identified that each day is busiest in the
middle for around 4 or 5 hours.
In order to cost effectively run Fresh Garden Eatery, a small well-balanced staff must be constantly maintained.. A schedule has been
implemented for Fresh Garden Eatery structured for peak and low hours of operation as discussed above. The proposed staff consists of one
manager, two supervisors, and six part time employees. The manager will oversee all operations, as well as make three weekly trips MWF at
3:30PM to the farmers market to make sure an efficient inventory is maintained at all times. The manager will also be paid a yearly salary of
$36,000 and with benefits it is $45,000 yearly. To find the benefits we used the base salary multiplied by 1.25 (Richards, 2015). The two
supervisors will over-see shifts of the part-time employees and will be paid on a base hourly rate of $10.50 per hour. The last component will
consist of six part time employees to make sure that an adequate staff maintained to accommodate for customer demand’s at all times. They
will all be paid at a rate of $8.05 per hour (Florida’s minimum wage), the number of six employees was chosen to make sure that hours per
part time worker stay below 32 in order to make sure additional cost aren’t factored in such as benefits and overtime pay. In order to find the
cost of wages the schedule above was used to calculate the total hours to be worked in a week by the employees.
Schedule Key
M Manager
S (1 & 2) Supervisor (1 & 2)
P (1-6) Part-time Employee (1-6)
33
Table 11: Employee Schedule
Table 12: Wage Cost Breakdown
Part-Time Employee Pay
118 (Weekly) $8.05
118 * $8.05= $949.90 (Weekly)
$949.9 * 52= $49,394.80 (Yearly)
Supervisor Pay
56 (Weekly) $10.50
56 * $10.50=$588 (Weekly)
$588 * 52= $30,576
Manager Pay
Salary $45,000 (Yearly with Benefits)
Wage Cost Total Wage Cost Total
$49,394.80 + $30,576 + $45,000 =
$124,970.80
AppendixH:WorkBreakdownStructure
34
Appendix H: Work Breakdown Structure
AppendixH:WorkBreakdownStructure
35
Table 13: Work Flow
Appendix H: Work Breakdown Structure
Appendix I: Financials
AppendixI:Financials
36
Table 14: Balance Sheet
AppendixI:Financials
37
Appendix I: Financials
Fresh Garden Eatery Break Even Analysis
Table 15: Capital Budget
Figure 43: Break Even
Table 16: Contribution Margin
AppendixI:Financials
38
Sales Calculations
Costs of Goods and Occupancy Costs
Direct Store Expenses
General and Administrative Costs
Appendix I: Financials
Table 17: Income Statement
Table 18: Sales
Table 19: COGS and OC
Table 20: Store Expense
Table 21: General and Admin Cost
• Pay Back Period Chart shows the
amount being owed. Followed by the
year cash flow budgets
• After the 4th Year there is a
remaining balance of $60,839.31,
taking in to account the horizon
value Fresh Garden Eatery can pay
back the amount in a little over a
third into the fifth year
• Resulting in a payback period of 4.35
Years
Fresh Garden Eatery: Weighted Average Cost of Capital
Decision Making Criteria
Payback Period
Appendix I: Financials
AppendixI:Financials
39
Table 22: AVG COC
Table 23: Decision Making Criteria
Table 24: Payback Period
AppendixI:Financials
Appendix I: Financials
Table 26: Pre-opening CostsTable 25: Reoccurring Costs
40
AppendixJ:EVChargingStations
Table 27 describes the costs associated with the installation of charging stations for electric vehicles. The model that would be used is the
level 2 curbside. It would give the customers the opportunity to charge their vehicles while they eat in the restaurant. There are several
benefits for the business of installing these stations. As an incentive Jacksonville, Florida gives a $200 rebate per charging station installed
(Plug In America n.d.). Installing these charging stations could also drive business because people will go inside and eat while waiting for
their car to charge. To get the pricing for the EV charging station a median of the above costs was used to get a a total of $8,899 as shown
in table 28.
Appendix J: EV Charging Station
41
Table 27: Charging Station Cost
Source: EVSolutions, 2014
2 Charge Stations Price Rebate Total
Schneider Electric
EVlink 30 Amp Level-2 Outdoor
Dual Unit Pedestal Electric
Vehicle Charging Station 2,499 200 2,299
Electrician Costs 1,500 / 1,500
Other Material & Labor 5,000 5,000
Permit 100 100
Total 8,899
Table 28: Fresh Garden Eatery Charging Station Cost

More Related Content

What's hot

Political & macro enviroment impact on coca cola
Political & macro enviroment impact on coca colaPolitical & macro enviroment impact on coca cola
Political & macro enviroment impact on coca colaManjula Weerakoon
 
Pepsico 2013 CAGNY Presentation
Pepsico 2013 CAGNY PresentationPepsico 2013 CAGNY Presentation
Pepsico 2013 CAGNY PresentationNeil Kimberley
 
Food Retail Industry Insights - 2016
Food Retail Industry Insights - 2016Food Retail Industry Insights - 2016
Food Retail Industry Insights - 2016Duff & Phelps
 
BMC State of the US Non Alcoholic Beverage Industry 2019
BMC State of the US Non Alcoholic Beverage Industry 2019BMC State of the US Non Alcoholic Beverage Industry 2019
BMC State of the US Non Alcoholic Beverage Industry 2019Neil Kimberley
 
Food Industry Report Fall 2018 from Cascadia Capital
Food Industry Report Fall 2018 from Cascadia CapitalFood Industry Report Fall 2018 from Cascadia Capital
Food Industry Report Fall 2018 from Cascadia CapitalCascadia_Capital
 
Chair speak report -PEPSICO(Dupont analysis with coke)
Chair speak report -PEPSICO(Dupont analysis with coke)Chair speak report -PEPSICO(Dupont analysis with coke)
Chair speak report -PEPSICO(Dupont analysis with coke)Akshara S
 
MBA-555-SABMiller-Case-Study
MBA-555-SABMiller-Case-StudyMBA-555-SABMiller-Case-Study
MBA-555-SABMiller-Case-StudyCarl Hansen
 
Stock Project Finance
Stock Project FinanceStock Project Finance
Stock Project FinanceDuncan Alger
 
Celsius investor presentation
Celsius investor presentationCelsius investor presentation
Celsius investor presentationNeil Kimberley
 
Kids Food and Beverage Market in the U.S.
Kids Food and Beverage Market in the U.S.Kids Food and Beverage Market in the U.S.
Kids Food and Beverage Market in the U.S.MarketResearch.com
 
Mondelez 2016 CAGNY Presentation
Mondelez 2016 CAGNY PresentationMondelez 2016 CAGNY Presentation
Mondelez 2016 CAGNY PresentationNeil Kimberley
 
Pinnacle Foods Inc. Presentation to CAGNY
Pinnacle Foods Inc. Presentation to CAGNYPinnacle Foods Inc. Presentation to CAGNY
Pinnacle Foods Inc. Presentation to CAGNYpinnaclefood
 

What's hot (20)

Political & macro enviroment impact on coca cola
Political & macro enviroment impact on coca colaPolitical & macro enviroment impact on coca cola
Political & macro enviroment impact on coca cola
 
Green food
Green foodGreen food
Green food
 
Pepsico 2013 CAGNY Presentation
Pepsico 2013 CAGNY PresentationPepsico 2013 CAGNY Presentation
Pepsico 2013 CAGNY Presentation
 
OgleS_M5_A1
OgleS_M5_A1OgleS_M5_A1
OgleS_M5_A1
 
Food Retail Industry Insights - 2016
Food Retail Industry Insights - 2016Food Retail Industry Insights - 2016
Food Retail Industry Insights - 2016
 
BMC State of the US Non Alcoholic Beverage Industry 2019
BMC State of the US Non Alcoholic Beverage Industry 2019BMC State of the US Non Alcoholic Beverage Industry 2019
BMC State of the US Non Alcoholic Beverage Industry 2019
 
Food Industry Report Fall 2018 from Cascadia Capital
Food Industry Report Fall 2018 from Cascadia CapitalFood Industry Report Fall 2018 from Cascadia Capital
Food Industry Report Fall 2018 from Cascadia Capital
 
Chair speak report -PEPSICO(Dupont analysis with coke)
Chair speak report -PEPSICO(Dupont analysis with coke)Chair speak report -PEPSICO(Dupont analysis with coke)
Chair speak report -PEPSICO(Dupont analysis with coke)
 
MBA-555-SABMiller-Case-Study
MBA-555-SABMiller-Case-StudyMBA-555-SABMiller-Case-Study
MBA-555-SABMiller-Case-Study
 
Starbucks SWOT analysis 2020
Starbucks SWOT analysis 2020Starbucks SWOT analysis 2020
Starbucks SWOT analysis 2020
 
Stock Project Finance
Stock Project FinanceStock Project Finance
Stock Project Finance
 
Celsius investor presentation
Celsius investor presentationCelsius investor presentation
Celsius investor presentation
 
Kids Food and Beverage Market in the U.S.
Kids Food and Beverage Market in the U.S.Kids Food and Beverage Market in the U.S.
Kids Food and Beverage Market in the U.S.
 
Limelets marketing plan
Limelets marketing planLimelets marketing plan
Limelets marketing plan
 
Mondelez 2016 CAGNY Presentation
Mondelez 2016 CAGNY PresentationMondelez 2016 CAGNY Presentation
Mondelez 2016 CAGNY Presentation
 
Pinnacle Foods Inc. Presentation to CAGNY
Pinnacle Foods Inc. Presentation to CAGNYPinnacle Foods Inc. Presentation to CAGNY
Pinnacle Foods Inc. Presentation to CAGNY
 
S&OP Journey, innocent
S&OP Journey, innocentS&OP Journey, innocent
S&OP Journey, innocent
 
Advertising project
Advertising project   Advertising project
Advertising project
 
Mondelez cagny 2015
Mondelez cagny 2015Mondelez cagny 2015
Mondelez cagny 2015
 
Marketing plan
Marketing planMarketing plan
Marketing plan
 

Similar to Business Cluster Final Project

Running Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docx
Running Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docxRunning Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docx
Running Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docxsusanschei
 
Fall 2016 PM101 Team 5 P1 Final Report
Fall 2016 PM101 Team 5 P1 Final ReportFall 2016 PM101 Team 5 P1 Final Report
Fall 2016 PM101 Team 5 P1 Final ReportSarah Spirer
 
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20MerrileeDelvalle969
 
Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...
Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...
Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...NITESH RANJAN
 
Develop a project proposal for a new product
Develop a project proposal for a new productDevelop a project proposal for a new product
Develop a project proposal for a new productJahangirnagar University
 
2017 barclay final web
2017 barclay final web2017 barclay final web
2017 barclay final webpinnaclefood
 
12Business Name Fruitfit CompanyThe name of.docx
12Business Name Fruitfit CompanyThe name of.docx12Business Name Fruitfit CompanyThe name of.docx
12Business Name Fruitfit CompanyThe name of.docxdrennanmicah
 
Running Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docx
Running Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docxRunning Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docx
Running Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docxcowinhelen
 
Final Final Paper
Final Final PaperFinal Final Paper
Final Final PaperAshley Pepe
 
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20simisterchristen
 
Sprouts Markets 8/2014 Investor Deck
Sprouts Markets 8/2014 Investor DeckSprouts Markets 8/2014 Investor Deck
Sprouts Markets 8/2014 Investor DeckNeil Kimberley
 
Running head Final Project PART 11Final Project PART 1.docx
Running head Final Project PART 11Final Project PART 1.docxRunning head Final Project PART 11Final Project PART 1.docx
Running head Final Project PART 11Final Project PART 1.docxjeanettehully
 
Vigor Health Business Plan 507
Vigor Health Business Plan  507Vigor Health Business Plan  507
Vigor Health Business Plan 507analyst_opsbiz
 
Theory Analysis 1The purpose of the assignment is to prepare stu.docx
Theory Analysis 1The purpose of the assignment is to prepare stu.docxTheory Analysis 1The purpose of the assignment is to prepare stu.docx
Theory Analysis 1The purpose of the assignment is to prepare stu.docxrandymartin91030
 
Investor deck (fy17 q3) final
Investor deck (fy17 q3) finalInvestor deck (fy17 q3) final
Investor deck (fy17 q3) finalcloroxir2016
 
5 Year Strategic Plan for Growth at Progresso Soup
5 Year Strategic Plan for Growth at Progresso Soup5 Year Strategic Plan for Growth at Progresso Soup
5 Year Strategic Plan for Growth at Progresso SoupRedmond_Boston
 

Similar to Business Cluster Final Project (20)

Running Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docx
Running Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docxRunning Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docx
Running Head COMPANY ANALYSIS1COMPANY ANALYSIS 7.docx
 
Fall 2016 PM101 Team 5 P1 Final Report
Fall 2016 PM101 Team 5 P1 Final ReportFall 2016 PM101 Team 5 P1 Final Report
Fall 2016 PM101 Team 5 P1 Final Report
 
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
Cover SheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
 
Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...
Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...
Customer Service in Distribution Network of Pepsico under Varun Beverages Ltd...
 
Develop a project proposal for a new product
Develop a project proposal for a new productDevelop a project proposal for a new product
Develop a project proposal for a new product
 
2017 barclay final web
2017 barclay final web2017 barclay final web
2017 barclay final web
 
12Business Name Fruitfit CompanyThe name of.docx
12Business Name Fruitfit CompanyThe name of.docx12Business Name Fruitfit CompanyThe name of.docx
12Business Name Fruitfit CompanyThe name of.docx
 
Running Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docx
Running Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docxRunning Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docx
Running Head MARKETING PLAN AND SALES STRATEGY1MARKETING PLA.docx
 
Final Final Paper
Final Final PaperFinal Final Paper
Final Final Paper
 
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
cover sheetProject Analysis ByMatthew PankeyBBA in Finance2011-20
 
Sprouts Markets 8/2014 Investor Deck
Sprouts Markets 8/2014 Investor DeckSprouts Markets 8/2014 Investor Deck
Sprouts Markets 8/2014 Investor Deck
 
Running head Final Project PART 11Final Project PART 1.docx
Running head Final Project PART 11Final Project PART 1.docxRunning head Final Project PART 11Final Project PART 1.docx
Running head Final Project PART 11Final Project PART 1.docx
 
Vigor Health Business Plan 507
Vigor Health Business Plan  507Vigor Health Business Plan  507
Vigor Health Business Plan 507
 
Investor Overview
Investor OverviewInvestor Overview
Investor Overview
 
W1005 ACCOUNTING ASSIGNMENT
W1005 ACCOUNTING ASSIGNMENTW1005 ACCOUNTING ASSIGNMENT
W1005 ACCOUNTING ASSIGNMENT
 
final copy
final copyfinal copy
final copy
 
Theory Analysis 1The purpose of the assignment is to prepare stu.docx
Theory Analysis 1The purpose of the assignment is to prepare stu.docxTheory Analysis 1The purpose of the assignment is to prepare stu.docx
Theory Analysis 1The purpose of the assignment is to prepare stu.docx
 
Investor deck (fy17 q3) final
Investor deck (fy17 q3) finalInvestor deck (fy17 q3) final
Investor deck (fy17 q3) final
 
2
22
2
 
5 Year Strategic Plan for Growth at Progresso Soup
5 Year Strategic Plan for Growth at Progresso Soup5 Year Strategic Plan for Growth at Progresso Soup
5 Year Strategic Plan for Growth at Progresso Soup
 

Recently uploaded

Uneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration PresentationUneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration Presentationuneakwhite
 
Mondelez State of Snacking and Future Trends 2023
Mondelez State of Snacking and Future Trends 2023Mondelez State of Snacking and Future Trends 2023
Mondelez State of Snacking and Future Trends 2023Neil Kimberley
 
Cracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptxCracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptxWorkforce Group
 
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...Dipal Arora
 
John Halpern sued for sexual assault.pdf
John Halpern sued for sexual assault.pdfJohn Halpern sued for sexual assault.pdf
John Halpern sued for sexual assault.pdfAmzadHosen3
 
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...daisycvs
 
Pharma Works Profile of Karan Communications
Pharma Works Profile of Karan CommunicationsPharma Works Profile of Karan Communications
Pharma Works Profile of Karan Communicationskarancommunications
 
FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756dollysharma2066
 
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usageInsurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usageMatteo Carbone
 
Dr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdfDr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdfAdmir Softic
 
Organizational Transformation Lead with Culture
Organizational Transformation Lead with CultureOrganizational Transformation Lead with Culture
Organizational Transformation Lead with CultureSeta Wicaksana
 
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best ServicesMysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best ServicesDipal Arora
 
Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...Roland Driesen
 
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...Aggregage
 
B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptxB.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptxpriyanshujha201
 
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service BangaloreCall Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangaloreamitlee9823
 
Value Proposition canvas- Customer needs and pains
Value Proposition canvas- Customer needs and painsValue Proposition canvas- Customer needs and pains
Value Proposition canvas- Customer needs and painsP&CO
 
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...rajveerescorts2022
 
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...amitlee9823
 

Recently uploaded (20)

Uneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration PresentationUneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration Presentation
 
Mondelez State of Snacking and Future Trends 2023
Mondelez State of Snacking and Future Trends 2023Mondelez State of Snacking and Future Trends 2023
Mondelez State of Snacking and Future Trends 2023
 
Cracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptxCracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptx
 
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
 
John Halpern sued for sexual assault.pdf
John Halpern sued for sexual assault.pdfJohn Halpern sued for sexual assault.pdf
John Halpern sued for sexual assault.pdf
 
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
Quick Doctor In Kuwait +2773`7758`557 Kuwait Doha Qatar Dubai Abu Dhabi Sharj...
 
Pharma Works Profile of Karan Communications
Pharma Works Profile of Karan CommunicationsPharma Works Profile of Karan Communications
Pharma Works Profile of Karan Communications
 
FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Majnu Ka Tilla, Delhi Contact Us 8377877756
 
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usageInsurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
 
Dr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdfDr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdf
 
Organizational Transformation Lead with Culture
Organizational Transformation Lead with CultureOrganizational Transformation Lead with Culture
Organizational Transformation Lead with Culture
 
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best ServicesMysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
 
Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...Ensure the security of your HCL environment by applying the Zero Trust princi...
Ensure the security of your HCL environment by applying the Zero Trust princi...
 
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
 
B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptxB.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
 
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service BangaloreCall Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
 
Value Proposition canvas- Customer needs and pains
Value Proposition canvas- Customer needs and painsValue Proposition canvas- Customer needs and pains
Value Proposition canvas- Customer needs and pains
 
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
👉Chandigarh Call Girls 👉9878799926👉Just Call👉Chandigarh Call Girl In Chandiga...
 
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
VVVIP Call Girls In Greater Kailash ➡️ Delhi ➡️ 9999965857 🚀 No Advance 24HRS...
 
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
Call Girls Jp Nagar Just Call 👗 7737669865 👗 Top Class Call Girl Service Bang...
 

Business Cluster Final Project

  • 1. Team 1 PM 101 Tayler Reid- Kyle Folden- Sarah Spirer- Ashleigh Robson- Zhiwen Wang- Garrett Olexo
  • 2. Industry Analysis Introduction Competitive Advantage Major Competitors Store Description Marketing Plan Appendix B: Menu 1 2 4 5 8 9 16 26 27 3 Business Description 6 Operational Plan TableofContents Information Systems Appendix C: Information System Comparison Marketing Budget 14 Primary Demand Forecast 17 18 19 Secondary Demand Forecast Combined Demand Forecasts Key Financials Conclusion References Appendix A: Marketing Demographic 20 21 22 25 Appendix D: Dashboards Explanation 28 Appendix E: Wrapped SUV and Location 29 Appendix F: Employee Roles 30 Appendix G: Employee Schedule 31 Appendix H: Work Breakdown Structure 34 Management Plan 15
  • 3. Appendix J: EV Charging Station 41 TableofContents Appendix I: Financials 36
  • 4. Figure 2: Keep It Local Figure 1: Logo Figure 3: Key Sustainability Figure 4: EV Charging Station Figure 5: Brooklyn Station Figure 8: Blender Light 1 2 3 5 5 5 9 3 Figure: 6: Restaurant Interior 5 Figure 9: Target Customer ListofFigures Figure 7: Interior Furniture Figure 10: Twitter 9 Figure 11: Facebook Figure 12: Wrapped Car Figure 13: EV Charging Station Figure 14: The Jacksonville Farmer’s Market 9 10 10 10 Figure 15: The Jacksonville Farmers Market 10 Figure 16: Coupon 11 Figure 17: Farmer’s Market Coupon Figure 18: Taste Magazine Figure 19: Jacksonville Magazine Figure 20: Google AdWords Figure 21: AppCard Figure 22: Unity Plaza Figure 23: Grand Opening Flier Figure 24: Marketing Dashboard 11 11 12 12 13 11 13 13 Figure 25: Marketing Budget 14
  • 5. ListofFigures 1 •20 •Figure 26: Take Control of How You Count Conversions •Figure 27: Floorplan •Figure 28: Supply Chain •15 •16 •16 •Figure 29: Net Income •Figure 30: Payback Period •Figure 31: Target Market •Figure 32: Market Trends •Figure 33: Bowl Menu •Figure 34: Smoothie & Juice Menu •20 25 25 26 26 •28 •Figure 35: Food Cost % •Figure 36: Wage Cost % •Figure 37: Basket Analysis •28 •28 •28 •Figure 38: Conversion Rate •Figure 39: Customer Satisfaction •Figure 40: Wrapped SUV •Figure 41: Brooklyn Station •Figure 42: Organizational Structure •Figure 43: Breakeven •28 29 29 30 37
  • 6. •Table 3: Marketing Budget Breakdown •Table 6: Implementation Time Table •Table 7: Primary Demand Forecast •Table 4: Marketing Schedule •Table 2: Major Competitors •Table 5: Filing Fees •Table 1: Average Demand Forecast •Table 8: Secondary Demand Forecast •Table 9: Combined Demand Forecast •Table 10: IS Comparison •Table 11: Employee Schedule 1 4 14 14 15 16 17 18 19 27 31-33 •Table 12: Wage Cost Breakdown 33 •Table 13: Work Flow 34-35 •Table 14: Balance Sheet •Table 15: Capital Budget •Table 16: Contribution Margin 36 37 37 •Table 17: Income Statement 38 •Table 18: Sales Calculation 38 •Table 19: COGS & OC 38 •Table 20: Store Expense •Table 21: General and Administrative Costs •Table 22: Average Cost of Capital 38 38 39 ListofTables
  • 7. •Table 25: Reoccurring Costs •Table 26: Preopening Costs •Table 24: Payback Period •Table 23: Decision Making Criteria 39 39 40 40 41•Table 27: Charging Station Costs Table 28: Fresh Garden Eatery Charging Station Cost 41 ListofTables
  • 8. 1 Weighted Daily Customers 108 Weighted Ticket Price $9.69 Weighted Daily Revenue $1,047 Weighted Annual Revenue $376,747 Fresh Garden Eatery was built on providing customers with healthy customizable smoothies, juices, and quinoa bowls. In order for customers to see the vision of the business detailed information systems, marketing, management, and operational plans are provided. Company financials are explained in detail throughout the analysis. The information system that was chosen after an extensive comparison is ShopKeep. ShopKeep has both marketing and accounting aspects integrated into the system making it the best choice for Fresh Garden Eatery. In the marketing plan the main points talked about include demographic advertising with social media and a wrapped vehicle; technology advertising through Google Adwords and memberships; printed advertising through coupons, fliers, and brochures; and lastly a grand opening event. After these aspects are discussed future developments are explained to show that the business has plans for growth. A marketing budget breakdown is then included to show the readers where money is being spent. The management structure is simple with a general manager, shift leader, and associates. Along with the employees the decision to become a LLC is also explained. In order for Fresh Garden Eatery to be able to run smoothly there needs to be an operational plan in place that includes physical facility requirements as well as explaining the supply chain. Florida health department has many codes in place in order to keep customers safe, and Fresh Garden Eatery will have to follow these codes in order to open the store and run it legally. Fresh Garden Eatery will be focusing on local produce which is at the heart of the supply chain. The Jacksonville Farmers Market will be the main supplier of Fresh Garden Eatery providing fresh and quality produce. Lastly, with evaluation of the financial plans stated that the business is feasible. The payback period of Fresh Garden Eatery for the projected five year financial planning reaches an estimated 4.35 years. Limited competition in the market and the low startup costs, resulted in a positive NPV and IRR brings low risks to investors. The concept of the business is quite unique, providing something new to consumers that are health conscious, and have a passion for a healthy lifestyle. The Fresh Garden Eatery is a new establishment located in Jacksonville, Florida. With goals of serving customers fresh quality food and smoothies, as well as building long lasting customer relationships. The business will capitalize on the trends of eating healthy combined with being customizable. The key concept setting the Fresh Garden Eatery away from the competition is the offering of Quinoa bowls as well as customizable smoothies and juices. The market is relatively small, yet still maintaining a constant annual growth of 2%. The target market includes women aged 25-34. This demographic has become increasingly interested in health consciousness. Main competitors both locally and nationally include Smoothie King, Planet Smoothie, Freshii, Robek’s Fresh Smoothies, Fresh Healthy Café and Yo-Yo Juice to name a few. Extensive research has been conducted for the demand in the market through a series of demand forecasts, in order to generate accurate predictions on whether or not the concept will be feasible looking in future years of operation. Through primary research a demand forecast was completed and through secondary research another demand forecast was completed. Below is an average of both demand forecasts
  • 9. Introduction Purpose This report was created to analyze the smoothie, juice and light foods industry in order to determine the feasibility of a juice and smoothie bar located in the Metropolitan area of Jacksonville, Florida, called Fresh Garden Eatery. This report opens with an overall analysis of the industry within the United States before going over the business concept including, store location, products, company objectives and value propositioning. Detailed marketing, management, and operational plans for the business will be also be provided. Following these plans are detailed primary and secondary demand forecasts (an average of these demands has been provided below in table 1 as well as key financials illustrating the future and feasibility of Fresh Garden Eatery company. Concept Preview Fresh Garden Eatery is a smoothie, juice, and quinoa bar operating in Brooklyn Station. The business will be a single store space located next to multiple retail stores, including a nail salon, hair salon, and a fresh grocery store. What differentiates Fresh Garden Eatery from competitors is the focus on customization that allows customers to build their own beverage or quinoa bowl to their distinct preference. Fresh Garden Eatery will also be using locally sourced produced and organic products as often as possible. As a company, Fresh Garden Eatery aims to promote green activities and will have an Electric Vehicle Charging Station on site as well as using compostable take away containers. Fresh Garden Eatery wants to provide an atmosphere that promotes healthy living and use of natural ingredients. Target Market The core consumers are those that appreciate real fruit’s value and indicate that fruit consumption is superior to other means of nutrition. These consumers demand all-natural, organic, non- GMO-sourced fruit , and appreciate locally sourced products. The target is towards females who are health conscious and between the ages of 25-34. Later in the report, Nicole- the typical Fresh Garden Eatery customer- will be introduced in the Marketing Plan (page 10) for a greater demographic breakdown. Appendix A can also be referenced for more on market trends. Interest in organic products has nearly doubled among juice drink buyers (including 100% juice beverages) since a 2013 measure, which found 15% of buyers of products in those two segments say organic claims drive purchase decision (Bloom, 2016). The rising health trend has pushed consumers to search for healthier alternatives such as the replacement of rice with quinoa. Quinoa attracts consumers due to its gluten-free aspect and super-food attributes, and its positioning as a “complete protein” (containing all nine essential amino acids), according to a Huffington Post (2014) article. 1 Weighted Daily Customers 108 Weighted Ticket Price $9.69 Weighted Daily Revenue $1,047 Weighted Annual Revenue $376,747 Table 1- Average Demand Forecast The logo (below) was created to include all of the elements of the business. Fresh produce items are the focal point of the logo as this aligns with the mission statement of offering customers a healthy and convenient meal. The tagline included is “The perfect blend of fast and healthy”, which also aligns with the mission statement. The logo has also been incorporated in the color palette which is included on page 5. Logo Introduction Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Source:Steemit Figure 1
  • 10. IndustryAnalysis Quality & Nutrition Consumers are typically drinking less carbonated beverages which gives opportunity to smoothie and juice shops since they can create drinks that have boosts without the added sugars. Consumers want locally sourced vegetables with more than a third of consumers “indicating local products would influence them to buy more vegetables”(Topper 2016). According to Bloom (2016), “61% [of consumers] say buying local vegetables is more important to them than buying organic vegetables”. Consumers are starting to think beyond health benefits and recognize “supporting locale enterprises bolsters their community, not just themselves” (Roberts, 2016). Smoothie, juice, and food shops can capitalize on the “go local” trend to show their commitment to the community. Not only does locally sourced food benefit the customer but also benefits the business as shown in figure 2. 2 Industry Overview The smoothie and juice industry as a whole is mature with low concentration. The industry has low barriers to entry due to low establishment costs and no licensing requirement. The industry is expected to grow 2.2 percent in 2017 up to 2.35 billion dollars (Alvarez, 2016). According to the US Census Bureau, the average consumer spends 5.2% of their annual expenditure on food and beverages consumed outside the home. Spending also differs between locations, seasons, and restaurant or store types. Over the past five years, consumers have become increasingly health conscious to the point where niche segments, such as cold-pressed juice, have become more popular. Consumers have become aware of the high sugar content of many juices and smoothies and have revealed a preference for drinks with high nutritional content that can act as meal replacements or as part of a cleansing diet. This trend has led to higher sales of drinks containing "superfoods" such as kale, spinach and beets (Bloom, 2016). According to the United States Census Bureau, Jacksonville, FL has a population of 868,031 residents and was ranked number 12 by Nations Restaurant News as one of the top 25 cities with the highest resident population. The progressive metropolitan city is rapidly growing due to Jacksonville’s ample natural resources, strong economy, as well as providing a variety of cultural and recreational opportunities (City of Jacksonville). In the year 2015, Florida saw a 4.8% increase in tourists, partially due to a 2.7% increase in occupancy in Jacksonville (Dixon, 2016). Jacksonville’s mission is to improve the quality of life in the area through the advocating of small businesses and creating opportunity for entrepreneurial growth and expansion(City of Jacksonville). Fresh Garden Eatery’s will take advantage of a young growing city and the unsaturated market for healthy smoothies, juices, and quinoa bowls in order to create a successful business. Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Since consumers are eating on the go more frequently, they are looking for meal replacements that provide balanced nutritional value. Smoothies have the opportunity to be used as a replacement meal because 41% of respondents to Gallo-Torres survey (2015) agree they are easy to drink on the go. New options that customers are able to choose from include a variety of grain bowls. The base of these bowls may include rice, quinoa or farro, that are then able to be customized to the customers preferences. Not only are these bowls appealing to customers who like to customize, but they are also a complete meal that is a perfect substitution for both someone who eats a salad or even someone who likes carbs (Nozari, 2015). Quinoa is a great base to use because it is naturally gluten free, high in protein and 50% of people age 18-34 have interest in trying quinoa (Owen, 2016). Meal Replacement Figure 2: Keep it Local Source Google Images: Source: Seng, K. (n.d.) Jacksonville, FL
  • 11. CompetitiveAdvantage EV Charging Station 3 Eco-Friendly Competitive Advantage Locally Sourced Locally sourced products can create a competitive advantage because restaurants can ensure the quality of the products they are selling by knowing where the products are being grown. As shown in figure 3 two purchasing drivers for customers include products that are made by a brand/ company they trust, as well as the products are fresh, natural, and/or organic which can be achieved through locally sourced produce. Creating completely customizable options, creates a competitive advantage, when comparing to companies that do not offer customization. This is due to the fact 72% of consumers expect restaurants to accommodate customization requests (Tristano, 2016). Through customization customers will have full power when ordering to make their food unique to themselves, which gives them the opportunity to decide every aspect of their meal. Customization Eco-Friendly businesses attract environmentally conscious people to the respective organization. According to the Business and Industry Portal, being eco-friendly helps attract and retain staff who are clear on the environmental impacts. Promoting an eco-friendly environment is viewed as a healthier environment and according to the Green Business Bureau, these types of companies noticed a 20% reduction in the amount of sick days used by employees. Another major incentive that can be enjoyed by all types of organizations is cost savings on taxes. Making energy saving implantations is viewed highly by the government and various tax-breaks are offered for those who implement these concepts. (Bell, 2010). While Fresh Electric/hybrid cars are becoming increasingly popular in today’s society. Fresh Garden Eatery has chosen to install a single unit charging station with two charging cords in initial years of operation (with the possibility of more to come) as shown in figure 4. By doing so they will be able to attract customers from competitors as well as retain customer loyalty from that specific group (Klemky, 2014). Offering such services has many benefits. Figure 4: Schneider Level 2 EV Charging Station Source: John, 2014 Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Figure 3: Key Sustainability Source: FoodPeople, 2016 Garden Eatery values eco-friendly concepts they can benefit from both employees and consumers that share the same views and deter environmentally conscious consumers from competitors that don’t share the same Eco-Friendly values. However, energy saving incentives are a challenge in initial years due to costs, but these ideas are not ruled out for the future development of the company. Source: Google Images
  • 12. MajorCompetitors Jamba Juice provides fruit smoothies as well as all-natural baked goods and other healthy snack and meal items through their 890 locations around the world and in 2015 was one of the most popular limited service restaurants in it its segment (Google Finance). Jamba Juice has also begun serving new products such as quinoa bowls in California with a new Innovation Bar concept (Jamba Juice). Jamba Juice is the leader in this industry with a 23.6% market share (Alvarez, 2016). Jamba Juice aims to serve those who are health conscious or seeking a healthy lifestyle. According to research analyst, Nicholas Durante, “Jamba is dedicated to the growth and expansion of their corporate and franchised locations through newer channels and markets” (Bixler, 2014). Jamba Juice hopes to achieve this growth by following trends such as the kale phenomenon and implementing items like fresh squeezed juices and coconut water refreshers (Ellison, 2015). These strategies as well as Jamba Juice’s enduring healthy, active lifestyle brand makes their response to entry minimal. Tropical Smoothie Café originated in Tallahassee, Florida in 1997 and has grown to 507 U.S. locations (Entrepreneur). Tropical Smoothie Café serves better-for-you food and smoothies made with fresh and natural ingredients (QSR Magazine, 2016b). One featured item is called the Caribbean Jerk Chicken Bowl that can be served with your choice of brown rice or quinoa (Tropical Smoothie Café). Tropical Smoothie Café aims to serve those living a healthy lifestyle and aims to inspire others to take part in a healthy and active lifestyle as well. In the year 2015, Tropical Smoothie Café reported a 6.4 percent increase in same-store sales, an increase that CEO Mike Rotondo attributes to “ongoing menu innovation and unwavering commitment from our franchisees and employees” (QSR Magazine, 2016b). Through these strategies Tropical Smoothie Café has achieved tremendous growth, but due to their proximity to our concept’s location, it is predicted that they will most likely take considerable response to entry. Freshii restaurants achieved rapid growth in the year 2015 and now operates over 200 units across 85-plus cities and 20 countries (QSR Magazine, 2016a). Freshii offers a fully customizable menu with nutritious meal options like kale or quinoa based bowls and burritos as well as fruit smoothies to energize people on the go (Freshii). Freshi has taken advantage of the fact that individuals, in all places, are becoming more health conscious an opened several new restaurants in Canada this year (QSR Magazine, 2016a). This rapid growth makes Freshii a major competitor, but this growth will not stop them taking notice and having strong response to new entry. 1 UNF Drive, Jacksonville, FL 32224 1808 Hendricks Avenue, Jacksonville, FL 32207 7600 Dr. Phillips Blvd #10 The Marketplace at Dr. Phillips, Orlando, Florida 32817 Companies Compared # of all locations # of locations in FL Within 5 Miles Jamba Juice 890 10 1 Tropical Smoothie Cafe 507 143 1 Freshii 200+ 6 0 4Table 2 National Competitors Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
  • 13. StoreDescription Fresh Garden Eatery is located at 150 Riverside Ave Jacksonville, Florida, in the shopping district of Brooklyn Station as shown above. The building is 1,394 square feet with limited seating, which is perfect for on the go clientele. The building is located within 1.5 miles of the downtown center, which is an urban location. There are two markets, a clothing boutique, nail salon, hair salon, healthy grocery store, urban park, and two apartment complex’s close in proximity to the restaurant location. For more information on the places near Fresh Garden Eatery see appendix E. 5 Source: Google Images Fresh Garden Eatery will have a color palette that is elevated and modern. Since Fresh Garden Eatery has a strong emphasis on being environmentally friendly, the color palette expresses this commitment. The colors include primarily green, brown (wood), and taupe, with pink being the focal color of advertisements. Pink was chosen as a pop of color for advertisement because it compliments the green well and Fresh Garden Eatery did not want to overuse the color green. Figure 6 showcases the color palette in use in a mock interior of Fresh Garden Eatery. Figure 8 : Blender Light Source: Kueber (2011) Color Palette Happy Hour Buy one get one: 8oz smoothies 5-7 at Fresh Garden Eatery Interior Furniture Figure 7 is a good representation of the living wall that will be displayed in Fresh Garden Eatery, but the furniture will be different. In order to keep the commitment of being environmentally friendly, the store will recycle their furniture from local thrift markets. All of the chairs, bar stools, and tables will be mismatched but still compliment each other very well and follow the color palette. Fresh Garden Eatery strives for the interior of furniture to look like figure 7. As a focal point a traditional chandelier will not be used, but instead a blender light will be made to tie into the theme of the restaurant as seen in figure 8. Figure 7:Furniture Source: Crust USA (2016) Figure 6: Interior Source: Atrium Dumbo Fresh Garden Eatery Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Figure 5
  • 14. Fresh Garden Eatery will sell all organic, non-GMO, dairy free products. The customers have the option to choose from the signature menu as shown in appendix B or customize every aspect of their meal. There is a strong focus on customer satisfaction and allowing the customer to have all of the control while ordering. Market share will be gained at a competitive rate in the current unsaturated market. Fresh Garden Eatery’s success will rely on the ability to provide fresh meals at a cost feasible for the customers and business. Fresh Garden Eatery strives to open at least three stores within the next five years in similar markets. 7 BusinessDescription 6 Mission, Vision, Goals, and Objectives The overall goal is to improve the American’s diet and educate customers on the appropriate meal portions. Although foodservice smoothies lead for drinking on the go there is still a lot of room to improve this industry (Roberts, 2016). The demand for more health conscious choices is expected to continue growing throughout the years which is a motivator for creating a business that will flourish. Instead of offering sugary smoothies or juices Fresh Garden Eatery wanted to create a healthy concept that is able to satisfy the increased health trend move. Within the businesses that offer smoothies, juices and health bowls there is a lack of customizable options and Fresh Garden Eatery wants to provide completely customizable options to maximize the consumer’s experience. The goal is to make sure each customer is thoroughly satisfied after receiving their product. The last aspect that influenced the start of the business is the guaranteed top quality products that are 100% organic and contains no GMOs or dairy in order to be inclusive to everyone. Objectives Develop a sustainable business that will locally source 75% of our produce within the first year of business. Reducing our carbon footprint through low energy light bulbs and energy efficient equipment. Running an eco-friendly business through the use of compostable take-away containers.. Vision Our company will show customers the value of being an environmentally sufficient company, while serving our customers the healthiest smoothies and bowls in town Mission Our mission is to provide our customers with a fresh, healthy, and convenient meal. 9 Reason for Starting Business Value Proposition Fresh fruit picked up every other day from our suppliers at The Jacksonville Farmer’s Market. “Build Your Own Beverages” All customers are able to customize their beverages and bowls to their liking. Customer Satisfaction We strive to make sure our customers are satisfied and pleased with our products and services. Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
  • 15. Fresh Garden Eatery provides a variety of customizable products creating an experience that is unique to each customer. The products offered are fruits, vegetables, and various liquid bases such as coconut milk, almond milk or honey. Along with beverages, there is an option for a customizable quinoa bowl. The bowls are served with organic quinoa and topped with a large array of vegetables, fruit, and fresh herbs. Fresh Garden Eatery focuses on making sure the customer feels welcomed by providing an atmosphere that is friendly and encouraging of a healthy lifestyle. Fresh Garden Eatery realizes the challenges of maintaining a healthy diet and has taken into consideration certain consumer preferences such as the customization option and the growth of quinoa. The customer starts their experience by choosing whether they want a beverage or bowl. If they choose a beverage they then choose from Fresh Garden Eatery’s wide array of options in the appropriate size of their choosing ranging from 8oz, 12oz, and 16oz. They then can order a beverage from the menu of ”Signature” beverages or they can choose to customize their own. (Please see appendix B for a smoothie and juice menu). They then will decide whether they want their beverage blended into a smoothie or freshly pressed into a juice. 9 98 BusinessDescription 7 Revenues will come from items sold at the retail store including: • Smoothies & Juices • 8oz: $3.99 / 12oz: $4.99 / 16oz: 5.99 • Quinoa bowls • 1 Cup: $7.49 / 2 Cups: $8.99 Fresh Garden Eatery will target the healthy consumer that is interested in either using smoothies or juiced as a total meal replacement, or eating a fully customizable quinoa bowl. Trends have been identified that point to an increased consumer demand for customization and healthier, higher quality food. If the customer wants a bowl they select toppings including fruits or vegetables to be put on their quinoa base. The quinoa bowls will be prepared in an order-as-you-go fashion. Once quinoa has been chosen they will be first be given a fruit option and then a vegetable option in which they will be able to pick up to two fruits and two vegetables of their choosing. (Please see appendix B for the bowl menu. Note: additional fruits and vegetables can be added at the consumers expense). After they have chosen their desired fruits and vegetables they will then be able to choose herbs that they would like added to their bowl. Finally after herbs have been selected they can pick a liquid topping as well as up to three individual toppings respectively. (Please see appendix B for a full list of menu options). The customer will choose what they want, and the employee will assemble the items to their choosing. Once the customer has received their product they will pay through the POS system which is hosted by ShopKeep. The customer is then able to enjoy their beverage and/or meal within the store or on the go. The decision to be non-dairy means that Fresh Garden Eatery can reach everyone in the target market of females aged 25-34. In an effort to further the image as a healthy option for consumers and to satisfy the 80% of millennials wanting to know more about where their food comes from, Fresh Garden Eatery will source fresh produce and herbs from the Jacksonville Farmers Market in order to form a close partnership (Reiter, 2015). Fresh Garden Eatery also has a strong mobile presence, with the help of Shopkeep information system. In order to connect to the customer both AppCard and MailChimp will be utilized in order to create the best customer experience. Since customers will be able to interact with Fresh Garden Eatery while away from the shop they will be excited when they visit. Business Model Products and Services Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Source:GoogleImages Source:GoogleImages Source: Tripod
  • 16. After comparing three different systems, ShopKeep was chosen to be used in Fresh Garden Eatery. Appendix C includes a comparison of the multiple information systems. ShopKeep is an inexpensive option that costs $69 a month for the first terminal and $39 for a second terminal. In addition to cost Fresh Garden Eatery needed certain features as outlined. Inventory management is crucial since the majority of the inventory includes perishable items. A system with inventory management will allow Fresh Garden Eatery the ability to plan accordingly and track the inventory more closely. Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion In order to keep customers satisfied customer loyalty needs to be offered through the POS. ShopKeep is partnered with Appcard making for simple customer loyalty integration. Employees will be able to receive the customers information at checkout and enter it into the POS. Their information will be linked to their purchases allowing for personalized coupons to be sent to the customers. Inventory Management In order to get the most benefits from an information system marketing integration already included was optimal. ShopKeep allows for integration through MailChimp. MailChimp is an additional service that has three pricing tiers including free, $10 per month and $199 per month. The free version of MailChimp allows for up to 2,000 subscribers and 12,000 emails to be sent a month. It was projected that no more than 2,000 people would subscribe to the newsletter, so Fresh Garden Eatery will be using MailChimp for free, but can upgrade when necessary (MailChimp, 2016). InformationSystem The employees are a fundamental part of the business so a system with them in mind is needed. Since there will be multiple part time employees simplicity was the top priority. Another benefit includes the management aspect that is integrated which will be beneficial for both the employees and managers. Employees will be reminded to clock in when they securely log onto the POS system with their employee I.D. Both managers and employees will have access to multiple dashboards when they log into the system which are shown in appendix C. In addition to checking the dashboards on the POS, the manager will be able to check key real time dashboards on an app. Fresh Garden Eatery Fresh Garden Eatery was looking for in an information system includes online ordering. Even though Fresh Garden Eatery will not be utilizing online ordering in the beginning of operation , but in the future online ordering will be a part of the business plan. Altogether, ShopKeep is the best information system for Fresh Garden Eatery. (ShopKeep, 2016). A system with accounting integrated was another option that will further increase efficiency since the location is a LLC with no accountant on the payroll. ShopKeep integrates with Intuit QuickBooks, which allows managers to sync daily sales which are they stored in one location. QuickBooks has many features including tracking income, expenses, and manage & pay bills which will be the key features needed at Fresh Garden Eatery, The monthly cost is $21 for the first 6 months, and then $30 the following months (Quickbooks, 2016). 8
  • 17. MarketingPlan 9 Fresh Garden Eatery will implement social media marketing to appeal more effectively to our customer demographic. Facebook boasts 275% greater click through rates while Twitter’s biggest selling point is 22% increase in brand conversation, 30% increase in positive mentions, and 32% increase in retweets. Figure 10 and figure 11 are Fresh Garden Eatery’s two of the social media platforms implemented (DaMers, 2014). Social Media Presence Target Market Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion In order to determine who would be the target customer for Fresh Garden Eatery market trends were first determined. According to the market trends figure in appendix A the shift towards healthier lifestyles is the most current and prominent trend. Females between the ages of 25-34 for the target market was selected because women in this age range are more likely to participate in juice cleanses and tend to eat healthier. Figure 9 to the right is Nicole who is a perfect representation of Fresh Garden Eatery customer. Demographics Psychographics The target customer for Fresh Garden Eatery also has certain values. These customers, aside from being health conscious, are also increasingly environmentally conscious and take part in eco-friendly activities. These individuals are also seeking local products that will benefit not only themselves, but also their community. Figure: 9: Target Customer Figure 10: Twitter Figure 11: Facebook
  • 18. MarketingPlan 10 Fresh Garden Eatery plans on implementing a wrapped 2012 Toyota RAV4 EV for visual appeal as well as transporting the fresh produce from the local farmer’s market. It will be driven Monday, Wednesday, and Friday at 3:30PM. The store will also have a level 2 EV Charging Station that will be the charging station for the RAV4 as well as customers of Fresh Garden Eatery and surrounding businesses. The wrapped SUV was chosen based on: • “95% of American consumers take in mobile marketing messages • Between drivers, passengers or passersby – there is a great chance of reaching our target demographic” (StarFish, 2016) Since the SUV will attract the attention of people in Jacksonville, FL it will make for a cost effective method of marketing Fresh Garden Eatery. Figure 12 is a representation of what the wrap will look like on the SUV, but there was no SUV on Customer Car Wraps so a van was used instead. Figure 12: Wrapped Car Source: Custom Car Wraps The EV Charging Station will benefit Fresh Garden Eatery as shown in figure 13. Jacksonville, FL grants $200 per station installed, while the store will pay the rest as shown in appendix J. By installing the EV charging station it will create: • Advertising opportunities • Build customer loyalty by demonstrating environmental consciousness (StarFishSigns, 2016). It is estimated the there is 670 electric cars in the Jacksonville area, with that number increasing by 12 to 15 every month (Scanlan, 2015). With such a large number of electric vehicles in the area, plus the vehicle the business uses, installing these charging stations is a good decision. Go Green Campaign Farmers Market As part of the marketing efforts, Fresh Garden Eatery will rent a space at the local farmer’s market every Saturday for the first year of operation. Two employees will attend The Jacksonville Farmer’s Market every Saturday two months prior to the grand opening as well as the months following. The stand will offer samples of smoothies and juices from the menu and a 10% off coupon will be given to customers that try the sample. Figure 14: Jacksonville Farmer’s Market Source: Jacksonville Farmer’s Market The stand has the potential to continue being a marketing tool after the first year of operation. Once the business is established and has reached the full number of forecasted customers, potentially full size smoothies, juices, and quinoa bowls can be sold at the market. A booth at the farmer’s market is a great way to get the name of the brand spread around the Jacksonville area. Figure 15: Farmers Market Source: Jacksonville Farmer’s Market Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Figure 13: EV Charging Station
  • 19. MarketingPlan 11 The YMCA is located directly across the street from the new Fresh Garden Eatery and the farmer’s market is an 8 minute drive. Since a majority of the YMCA’s members have a passion for either working out or eating a healthy diet this makes them a perfect target for advertising the new restaurant. The farmer’s market is a great target to advertise because they are individuals interested in eating locally. Figure 16: Coupon Ways of going about doing this consist of, however are not limited to fliers, coupons, and brochures. The fliers will be passed out to people at the YMCA facility as well as customers at the farmers market. The fliers will be simple with the location of the business, the name and logo and the offerings. The brochures will be a more detailed information, where the presumed customers can see most of the great items and benefits that Fresh Garden Eatery has to offer. Coupons are a great way to get customers in the door. (Reece, 2005). Altogether printed advertising throughout the year will be beneficial to increasing publicity of Fresh Garden Eatery. Shown in figure 16 and figure 17 are two coupons that will be used to promote Fresh Garden Eatery. Happy Hour Buy one get one: 8oz smoothies 5-7 at Fresh Garden Eatery Sales Promotion Magazine Ad Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Fresh Garden Eatery will advertise in two local magazines. Jacksonville Magazine as shown in figure 19, is a popular publication in the area, with over 167,000 monthly readers. Fresh Garden Eatery will buy three spots in the magazine in July, October, and January for a total of $4570 (Jacksonville Magazine). Taste Magazine as shown in figure 18 is one of the four publications from the same company. All of the publications have over 1 million yearly readers, putting an ad in these magazines will get the name of the restaurant in front of thousands of people. Fresh Garden Eatery will buy a spot in this magazine in June ($1700) and December ($2200) for a total of $3900 (Taste Magazine). With it being such a popular magazine in the area, the price of advertising is relatively high. However, the business has chosen to go with less expensive means of marketing so there is plenty of room in the budget to purchase the space. Figure 17: Coupon Figure 18: Taste Source: Taste Magazine Figure 19: Jacksonville Source: Jacksonville Magazine
  • 20. MarketingPlan 12 Becoming a member at Fresh Garden Eatery is simple and beneficial to customers. The membership is implemented through AppCard which will be integrated through Shopkeep. An example of AppCard is shown in figure 21. The customer’s information will be stored and used when needed. Customers will receive coupons and promotions on their birthdays, during and on the holidays, and exclusive deals only offered to members. Fresh Garden Eatery is focusing on the loyalty of the customers and wants to give back to those who support the concept. For this reason, members will be able to acquire points during purchases and can redeem them for free drinks or gifts (AppCard, 2016). MailChimp will be used to send monthly newsletters that have information regarding new products or activities before promotions are launched which will also allow Fresh Garden Eatery to acquire customer feedback. MailChimp allows companies to track the average open rate as well as the click rate. This tool will allow for Fresh Garden Eatery to see how customers are responding to the newsletters, MailChimp also integrates with Twitter and Facebook, allowing Fresh Garden Eatery to reach multiple channels. Fresh Garden Eatery has decided to implement Google Adwords into online advertising elements. Google Adwords is an advertising service by Google for businesses looking to display ads through Google’s network. The program allows the company to set budgets and only require payment when the ads are clicked. The ads are keyword sensitive and become visible when implemented. This is because 55% of people use technology before visiting a business (Lafferty, 2014).. Also, the competitors found on SpyFu (2016), showed that Robeck’s Fresh Smoothies, Jamba Juice, and Planet Smoothie are not using search engines which gives Fresh Garden Eatery a competitive advantage to develop a presence online. Figure 20 is an example of a keyword that would be used (Google AdWords). Google Adwords Customer Loyalty Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Figure 20: Google Adwords Figure 21: AppCard
  • 21. MarketingPlan 13 Marketing Section on Dashboard Before the grand opening two window clings will be put up in order for potential customers walking by as well as flyers given to local businesses. The grand opening will be on April 1, 2017. The flyer as shown in figure 23 will be available to potential customers at the YMCA, The Fresh Market, and suppliers at the Famer’s Market. The grand opening will have games, prizes, and and giveaways for all that attend. If the potential customers downloads AppCard, they are put into a raffle for free smoothies and juices for a month. The Unity Plaza, an amphitheater in Brooklyn Center, has daily free yoga and boot camp sessions and nightly events such as free dance lessons and concerts. The first weekend in April 2016 there was a free concert at The Unity Plaza. In April 2017, Fresh Garden Eatery will be teaming up with the plaza to sponsor an event that night. Fresh Garden Eatery will sponsor yoga sessions and hand out samples to those who attend prior to the grand opening. A free yoga session is shown in figure 22. Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Grand Opening The general managers will be able to access the dashboards through the POS used which is ShopKeep. The dashboards are used to track business trends relating to the store on any given day, week, month, or year. Above in figure 24 is a snapshot of the first three months projected marketing dashboard which includes the company’s rational predetermined standings. The projection is for three months starting on the grand opening , April 1, 2017 and ending on June 30, 2017. Figure 23: GO Flyer Figure24: Dashboard Figure22:UnityPlaza
  • 22. MarketingPlan 14 Social Media $18,837.36 Google Adwords $2,250 AppCard $0 Emails via MailChimp $0 Wrapped Vehicle $4,000 Booth $1,800 2 Window Clings $354.24 2,000 Brochures $300 2,000 Flyers $88.24 500 Coupons $105 5 Magazine Ads $8,970 Coupons for FM $416 Total $36,621 Feb March April May June July Aug Sept Oct Nov Dec Jan Social Media Google Adwords AppCard Emails via MailChimp Wrapped Vehicle Farmer’s Market Booth Window Clings Brochures Flyers Coupons Magazine Ad Coupons at Farmers Market Digital Advertising Visual Advertising Grand Opening Promotions Printed Sales Promotions Budget Digital Advertising Visual Advertising GO Promotions Printed Sales Promotion Marketing Budget Breakdown Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Figure 25: Budget Table 3 Table 4 The marketing budget for the restaurant is 10% of first year’s sales. With Fresh Garden Eatery being so new, it is important that the marketing communications are effective and successful in order to attract loyal customers. The marketing plan focuses on the demographics of the targeted customers for Fresh Garden Eatery and is geared to relate to their lives. A number of different marketing tactics will exist in order to attract the most loyal customers to the store. Table 3 shows the breakdown of where and how much would be spent on the marketing plan. Table 4 shows the schedule for when the the respective marketing tactics will be used throughout the first year. Fresh Garden Eatery spent $36,621 in the first year in order to get an immense presence and create lifetime loyal customers.
  • 23. ManagementPlan 15 Fresh Garden Eatery has chosen to operate as a Limited Liability Company (LLC). An LLC is popular for a small business start-up in America due to its simplicity, protection and ease of use. LLCs generally have no restrictions on the number of members allowed, and allow members to have flexibility in the management of the company. Florida LLCs can select diverse types of distribution for profits and unlike common partnerships, where the split is 50-50, an LLC has room for flexibility. Another benefit is that all LLC owners are protected from personal liability for business debts and claims. Meaning that if Fresh Garden Eatery would happen to owe money or face a lawsuit, only the assets of the business are at risk not the personal assets of the members (BizFilings, 2016). The IRS does not consider an LLC to be a separate entity for tax purposes and the partners are treated like a traditional partnership. Within this the income is "passed through" the LLC to the LLC owners, and the owners report the business's income on their personal income tax returns. In other words, the federal income taxes pass through the LLC itself and falls on the individual LLC members as shown in figure 26. This benefits the members of Fresh Garden Eatery because taxes will not be payed at a business level but instead at an individual level. Ultimately, because Florida is one of the rare states that does not collect income tax for individuals, LLC members will not owe state income tax on their LLC earnings (BizFilings, 2016) Figure 26: Take Control of How You Count Conversion Source: IRS LLC Filing for name $50.00 Filing Articles of Organization $125.00 Appoint a Registered Agent Varies Tax and Regulation Requirements No fee Filing for Annual Report $138.75 Total costs to file $313.75 Operating as a LLC In order to cost effectively run Fresh Garden Eatery, a small well-balanced staff must be constantly maintained in order to counteract the narrow profit margins of the business. A schedule has been implemented for Fresh Garden Eatery structured for peak and low hours of operation, refer to Appendix F for more details. The proposed staff consists of one lead manager, supervisors, and six part time employees. Prior to this has been taken into account that brings Fresh Garden Eatery’s yearly payroll to $115,970.80. Management Roles Oversee all operations, as well as make three weekly trips to the farmers market to make sure an efficient inventory is maintained at all times. The lead managers will also be paid a yearly salary of $36,000. Oversee shift of the part-time employees and will be paid on a base hourly rate of $10.50 per hour. Six part time employees will work in the assembly lines. They will all be paid at a rate of $8.05 per hour (Florida’s minimum wage). Manager Shift Leader Associate Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Table 5 For daily operations to run as smooth as possible, a weekly schedule was created to make sure the business is never understaffed, which can be found in more detail in appendix G. Since it is a small business with a single location, no one will be hired exclusively as an HR manager. Training the manager to be fully equipped in handling human resource issues is essential. To avoid any potential liability, the manager will have to be well trained in employment law. There is a risk in doing this, but the exemptions for part-time workers are far less intensive. With the schedule already having been created, issues of hours and, as a result, benefits can be avoided in compliance with the Fair Labor Standards Act. Through this extensive HR training, any manager hired by the company will be more than capable of handling any HR issues that may arise.
  • 24. OperationalPlan Fresh Garden Eatery is opening by the second of 2017 on April 1st. In order to open most efficiently, a detailed list of activities, tasks, and sub-tasks must be completed with the quarter most important items highlighted. All deadlines are scheduled to allow for extra time in case complications arise. For a more detailed work breakdown please see appendix H. Fresh Garden Eatery takes pride in making sure their customers receive the freshest produce available. The restaurant assures freshness and will be recognized by the quality of produce served and the lack of waste created. Fresh Garden Eatery is partnering with the local Jacksonville Farmers Market where fresh products are valued and supplied on site daily. Fresh Garden Eatery will keep an accurate, up to date inventory with the help of ShopKeep to make sure to keep the brand‘s promise. Fresh Garden Eatery will make multiple trips weekly in the wrapped vehicle to receive the produce needed . The plan is to establish long lasting supplier-relationships with the local vendors, with some key vendors including Anna-Maria’s, Christine's, and Albert Produce (Jacksonville Farmers Market, 2016). 16 Implementation Timetable Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Logistics/ Supply Chain Management Anticipated Completion Date Task December 28th, 2016 Sign Lease for 150 Riverside Ave Jacksonville, FL March 2nd, 2017 Full Store Renovation March 22nd, 2017 Hiring of Staff and Employees April 1st, 2017 Grand Opening! Physical Requirements Fresh Garden Eatery will make sure all the necessary precautions are taken in order to follow Florida Health and Safety codes. The facility is being renovated meaning pre-existing health related concerns will be done during the remodeling. In addition to this, hand washing, food handling, and food storage are addressed. Food preparation areas will contain all the adequate supplies such as hot water, cold water, towels , soap, and other sanitary materials. Fresh Garden Eatery will acquire all necessary measures in order to prevent food borne illnesses, as the employees will learn though extensive training that misconduct in any form will not be tolerated. According to Florida Health (2016), restaurant establishments are required to have a food manager who has passed a written test that demonstrates the required knowledge regarding food protection. Below is the restaurant floor plan where regulation will take place in order to pass requirements. Figure 27: Floorplan Table 6 Figure 28: Supply ChainNicole
  • 25. PrimaryDemandForecast 17 Freshii: The next company tied for a weight of 27.50%. Their menu is closely aligned with Fresh Garden Eatery as they offer bowls, smoothies, and juice but in addition have a few other options which may have raised their average ticket price. Freshii ultimately ended up receiving a weight of 27.5% because their business was not in Jacksonville, FL, and they have a more extensive menu (Freshii, 2016). Weighted Daily Customers 100 Weighted Ticket Price $9.69 Weighted Daily Revenue $969 Weighted Annual Revenue $348,840 Table 7 Finally after weights are effectively determined an average weighted revenue could be calculated. This was done by taking each individual revenue multiplied by the respective weight, (providing weights add up to 100%) then adding up the weighted revenues. Another way this can be done is in excel where a sum product of weights and revenues can be calculated. After all this had been completed the weighted average was determined to be $348,840. Name Robek’s Fresh Smoothies Freshii Fresh Healthy Café Yo-Yo Juice Location Jacksonville Beach, FL Pensacola, FL Miami, FL Tampa, FL Population 842,583 52,703 417,650 352,957 Ticket Price 8.00 12.50 10.00 7.00 Customers 94 100 121 60 Revenue 270,720 405,000 435,600 151,200 Weight 35.00% 27.50% 27.50% 10.00% The primary demand forecast was based remotely on weights of the competition. Robeks: The highest weight was given to Robek’s Fresh Smoothies at 35%, because it was a new store in the first year of business and also is located in Jacksonville, FL. It was not weighted higher due to it being on Jacksonville Beach, which is influenced by peak seasons. During peak season they get an average of 130 customers, while off season they get about 75. According to Frommer’s (2016) ”[in] North Florida tourists flock here during the summer, from Memorial Day to Labor Day”. To get the average 130 customers was used for 4 months, and 75 customers for the remaining 8 months. Fresh Healthy Café: Fresh Healthy café is located in Miami, FL.. Their menu includs all of the aspects of Fresh Garden Eatery (quinoa bowls, smoothies, juices), with additional items on the menu as well. Fresh Healthy Café received a weight of 27.50% like Freshii because of their location and larger menu. Fresh Healthy Café also received a rating of 27.50%. Primary Demand Forecast Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Yo-Yo Juice: Finally Yo-Yo Juice received the smallest weight of 10%, since they are very small and have multiple revenue streams like catering that could affect their value.
  • 26. SecondaryDemandForecast 18 131,500 daytime population within 5 minute drive 9,757 people (7.42%) are aged 25-34 and are female 2,695(27.62%) eat out daily 112 (40%) visitors daily for Fresh Garden Eatery Step 1: The number of daytime population in the area was found through Loopnet, which is where 150 Riverside Ave is listed for lease. On the website they listed the daytime population within 10 minutes as 263,000 people. It was then indicated that people would only drive 5 minutes to our store so it was then divided 263,000 people by 2 to get the number used of 131,500 daytime people. Step 2: After determining the daytime population, the percentage of females ages 25-34 (target market) was found by analyzing Jacksonville, FL in SimplyMap. In our area there is a concentration of 10.35% of females aged 25-34. This percentage was then multiplied by the daytime population. 131,500*.0742 = 9,757 Step 3: The number of times one buys a meal or snack from a restaurant was computed through USHFC to be 5.8 a week. To get the daily amount people eat out 5.8 was taken and then divided by 7 to get .83. Given that the majority of the population eats 3 meals a day .83 was divided to receive 27.62%. (.83/3) * 100=27.62% 9,757*.2762= 2695 Step 4: Next percentage of people who in Jacksonville, FL “agreed a lot- consider [their] diet to be very healthy” was determined through SimplyMap (2016). The average of this percentage was 10.34%. 2695*.1034= 279 Step 5: Fresh Garden Eatery is the third competitor in the 2.5 miles radius, but instead of dividing the customers evenly different weights were applied to each business. Smoothie King was weighted at 50% due to their strong brand value which is more recognizable. Fresh Garden Eatery was weighted at 40% because the ability to get a full meal is something that the competitors are not target. Lastly Nature’s Table was weighted at 10% because Nature’s Table received a weight of 10% because they are in the Everbank Center. Based on multiple Yelp reviews these customers either worked in the building or were downtown for business. Their location limits their customer base to predominately business people in the area. Also, their hours are M-F 7AM to 4PM (Natures Table, 2016). Smoothie King: 279*.50= 139 daily customer Fresh Garden Eatery: 279*.40= 112 Nature’s Table: 279*.10= 28 The daily expected customers for Fresh Garden Eatery as found by analyzing the target demographics in Brooklyn Station and basing it on the 65,155 people residing in the area. The step-by-step process that was used is described below: Weighted Daily Customers 112 Weighted Ticket Price $9.69 Weighted Daily Revenue $1085 Weighted Annual Revenue $390,700 Table 8 279(10.34%) are very health conscious Secondary Demand Forecast Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion
  • 27. CombinedDemandForecast 19 Combined Demand Forecast Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion After extensive evaluation of the primary and secondary demand forecasts weights must be determined. In order make predictions for sales and be able to do any of the future financial forecasts a weighted average must be determined. With that being said a 40% weight was determined for the primary demand forecast. There are a couple reasons for the rating, one being it was less specific. The fact that is was based off of other companies was indeed beneficial, however there are many variables in the comparable companies which can cause numbers to quickly become misleading. One of these errors includes companies being located outside of the city of Jacksonville, FL because every city has a slightly different customer base making it hard to make a precise prediction based on all the different locations. Another major reason for the lower rating was the fact that some of the comparable companies in which data had been received had alternative sources of revenue outside of the daily smoothie operations. For example, Yo-Yo Juice recorded the lowest amount of daily customers, however after talking with the manager on the phones she explained that the company also takes part in a catering service. This leading to higher revenues despite the below average daily customer base. On the contrary the secondary forecast has many reasons that it was weighted at 60%. The first reason being it was area specific. Data relative to the area that Fresh Garden Eatery is going to be located Is highly valuable. The secondary forecast took into account many market specific factors, such as the target market, percentage of people who eat out, people who are very health conscious, and the daytime population. Knowing Jacksonville and more specifically Brooklyn Station information could be helpful in future development in order to gain more market share which will increase the daily and yearly sales. Altogether the secondary data was more accurate due to the numbers being specific to Brooklyn Station. After the two weights had been placed on the respective demand forecasts a final weighted average demand could be determined for Fresh Garden Eatery. The amount of daily customers Fresh Garden Eatery can expect to have is 108, bringing their yearly revenue to $376,747. This yearly revenue will not be achievable until the third year of operation once Fresh Garden Eatery has fully established their self in their respective market. Weighted Daily Customers 108 Weighted Ticket Price $9.69 Weighted Daily Revenue $1,047 Weighted Annual Revenue $376,747 Weighted Daily Customers 100 Weighted Ticket Price $9.69 Weighted Daily Revenue $969 Weighted Annual Revenue $348,840 Weighted Daily Customers 112 Weighted Ticket Price $9.69 Weighted Daily Revenue $1085 Weighted Annual Revenue $390,700 Primary Secondary 60%40% Table 9
  • 28. KeyFinancials 20 Financials Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Rent Fresh Garden Eatery has a slightly higher than average rent. The average price per square foot of rent at Fresh Garden Eatery is $33.14 and with the store totaling 1394 square feet, it will be $46,199.95 annually or $3,850 monthly. Income Statement Fresh Garden Eatery is located in Jacksonville Florida and has a weighted average demand of $376,747.20, however that will be achieved in the 3rd year of operation. Due to data found on IBISWorld (2016) sales are expected to increase by 1.6%, 1.7%, 1.7%, 1.6%, respectively leading into the fifth year of operation. Over the future of the company, 5th year sales are projected to be $402,234.53. The net income is $19,323.73 in year 1 and year 5 net income will be $40,323.73 as shown in figure 24. In Florida there is no income tax however in order for consistency a corporate tax rate was used. Fresh Garden Eatery falls into the minimum bracket of 15% for companies making below $50,000 (Essentials of Corporate Finance 9th Edition ) Start Up Costs Payback Period WACC NPV & IRR Currently the WACC computation for Fresh Garden Eatery is 7.98%. This has been calculated by multiplying the Capital Structure by the Cost of Capital by the After Tax Adjustment. Adding both the computation through debt and through equity. The computation for debt was 30 % capital structure * 8% cost of capital * 85% after tax (Essentials of Corporate Finance 9th Edition for taxes) adjustment. While the cost of equity was calculated at 70% capital structure * 20% cost of capital. Resulting in a total WACC of 16.04%. You can reference appendix I for addition information on Weighted Average Cost of Capital. The net present value (NPV) of Fresh Garden Eatery is $56,568, which was calculated using the WACC and all the cash flows over the next five years and then implementing the horizon value of the company in year 5. The internal rate of Return for Fresh Garden Eatery is 22.63%. Since both the NPV and IRR are positive the project should be pursued. You can reference appendix I for addition information. Fresh Garden Eatery, will meet the payback period in the fifth year of option. Once the horizon value is factor in. Do to the projected cash flow balances being lower in the initial years of operation. But grow after the first couple years once Fresh Garden Eatery cuts back on advertising expenditures. Once factoring the horizon value in year five Fresh Garden Eatery will meet the fifth year payback period. After further calculations that exact amount of time is 4.35 years see Appendix I for details. There are many factors contributing to the start up cost of Fresh Garden Eatery. The facility that is being rented must under go a thorough renovation in order to make it capable for operation in Florida. The renovation costs are estimated to be $55,619.34. The estimated equipment cost for the Health Garden Eatery is expected to be $36,628.78. Accessories for the restaurant are expected to relatively low at almost $6,000. The estimated start up cost for Fresh Garden Eatery is $175,00 dollars which is detailed on appendix I. The LLC members of Fresh Garden Eatery are expected to pay 70% of these costs which is funded by equity. The total funding from equity is $122,500. The remaining 30% is expected to be funded by debt through a loan. This leaves the investors/stakeholders in Fresh Garden Eatery paying the remaining $52,500. providing the Required Rate of Return is meet. Figure 24; Net Income $- $10,000.00 $20,000.00 $30,000.00 $40,000.00 $50,000.00 Year 1 Year 2 Year 3 Year 4 Year 5 NET INCOME YEAR TO YEAR Figure 23: Payback Period Weighted Average Cost of Capital is 16.04% Current NPV is $37,483 Internal Rate of Return is 22.63% Payback Period is 4.35 years
  • 29. Conclusion 21 Fresh Garden Eatery is a smoothie, juice, and quinoa bar located in the Metropolitan area of Jacksonville, FL. This concept was chosen as the smoothie and juice industry has low barrier to entry and is expected to grow 2.2 percent in 2017 up to 2.35 billion dollars (Alvarez, 2016). The target customer in particular are females who are health conscious and between the ages of 25-34 as well as those seeking a healthy lifestyle. Products sold in the Fresh Garden Eatery will be organic, non-GMO, dairy free, and locally sourced. Customers will have the option to fully customize their smoothies and juices as well as their quinoa bowls. Smoothies are a viable and healthy option as a meal replacement as 41% of respondents to Gallo-Torres survey (2015) agree they are easy to drink on the go. There has been a 24% increase in quinoa offerings on menus in the last year and with this option on the menu those with gluten restrictions will be able to dine at Fresh Garden Eatery (Kelter, 2016). Fresh Garden Eatery will be using all natural dine-in utensils and dishes as well as compostable take away containers. Conclusion Introduction Industry Analysis Business Description Business Plans Demand Forecast Financials Conclusion Future Developments Fresh Garden Eatery should not only focus on current success, but also take future development into consideration in order to expand the brand. Analyzing the value chain of the business, includes improving inbound logistics, which means Fresh Garden Eatery needs to precisely choose their raw materials. With improved inbound logistics, it will allow the company to expand beyond only vegetarian offerings and include meat as a protein for the quinoa bowls. Improving efficiency of the supply chain will also allow for Fresh Garden Eatery to further broaden the menu offerings. Advanced employee training will be used in order to educate the employees to be more skillful and efficient at work in order to accelerate the operation and save time for customers. An added revenue stream includes bottled juices to-go, which are picked from the most popular mixed juices. In the future there will be a membership program where loyal customers will be able to choose their own juices to be bottled and sold in bulk. The bottled juices target customers who love the brand but do not have the time to visit as often as they would like. ShopKeep has the ability to integrate online ordering. Once Fresh Garden Eatery has had the time to analyze their customers, mobile ordering will be implemented. Knowing the customer before implementing will help in increased efficiency. A feature of the online ordering will include being able to track how close the customer is so when they arrive their smoothie or juice is still cold, and quinoa bowl is still hot. After the first five years of business, Fresh Garden Eatery wants to expand their store count in Florida through franchising. Having extensive resources in place to support franchisees with set up, sourcing, and marketing is what is needed to run a successful Fresh Garden Eatery franchise. After further evaluation of the projected financials of the Fresh Garden Eatery there are a couple valuable takeaways for the investors. After five years of cash flows had been calculated taking in to account changes in working capital, the NPV for the Fresh Garden Eatery is greater than zero based on the horizon value. Another key take away is that the IRR is greater than the Weighted Average Cost of Capital both resulting in favorable situation for investors where they should choose to invest.
  • 30. References Alvarez, A. (2016, September). Juice & Smoothie Bars in the US. Retrieved from IBISWorld Database. Atrium Dumbo. (2016). Our Menu. Retrieved from http://www.atriumdumbo.com/our-menu/ AppCard. (2016). Retrieved from AppCard.com Bell, D. (2010, March 16). 8 Ways to Go Green and Save on Your Taxes. Retrieved from http://www.usnews.com/news/energy/slideshows/tax- incentives-for-going-green Bixler, B. (2014, June 30). Jamba Juice and Other Top Smoothie and Juice Franchises. Retrieved from Franchise Chatter http://www.franchisechatter.com/2014/06/30/franchise-chatter-guide-how-the-jamba-juice-franchise-became-a-leading-health-brand-that-has-no- problem-attracting-millennials/ BizFilings, 2016. Florida LLC. Retrieved from BizFilings.com Bloom, B. (2016). Juice and Juice Drinks. Retrieved from Mintel Database BluePrint. (n.d.). Retrieved from https://www.blueprintmarketing.com/blog/ Carty, S.L. (n.d.) Food Service Industry: Labor Cost Standards. Retrieved from http://smallbusiness.chron.com/food-service-industry-labor-cost-standards- 13911.html City Of Jacksonville. (n.d.). COJ.net - Welcome. Retrieved from http://www.coj.net/ Crust USA (2016). Retrieved from http://www.crust-usa.com DaMers, J.(2014, August 11). The Top 10 Benefits Of Social Media Marketing. Retrieved from http://www.forbes.com/sites/jaysondemers/2014/08/11/the-top-10-benefits-of-social-media-marketing/#1887a52a2a4d Ellison, S. (2015, September 28). How Jamba Juice is becoming more than just a smoothie store. Retrieved fromhttps://www.innovationleader.com/how- jamba-juice-is-becoming-more-than-just-a-smoothie-store/ Entrepreneur. (n.d.). Tropical Smoothie Cafe Franchise Information. Retrieved from Entrepreneur https://www.entrepreneur.com/franchises/tropicalsmoothiecafe/308831 EVSolutions. (2014, May 7). The Benefits of Electric Vehicle Charging For Businesses. Retrieved from EVSolutions http://www.evsolutions.com/blog/the- benefits-of-electric-vehicle-charging-for-businesses Florida Health. (2016). Hygiene Codes and Standards & What is a Food Manager. Retrieved from http://www.floridahealth.gov/environmental- health/food-safety-and-sanitation/food-manager-code-standards.html FoodPeople. (2016). Menu Trends. Retrieved from https://thefoodpeople.co.uk/menu-trends Freshii. (2016). The Freshii Story. Retrieved from Freshii https://www.freshii.com/us/about Fresh Healthy Café. (2016). Retrieved from http://www.freshrestaurants.com Gallo-Torres, J. (2015, March). Smoothies and Shakes – US – March 2015. Retrieved from Mintels Gilliam, D. (2016, June 14). The Brooklyn Riverside Sells for $58 Million. Retrieved from http://www.bizjournals.com/jacksonville/news/2016/06/14/the- brooklyn-riverside-sells-for-58-million.html Google Finance. (n.d.). Jamba, Inc. Retrieved from Google Finance https://www.google.com/finance?cid=706238 Google Adwords. (2016) Get your ad on Google today. Retrieved from https://adwords.google.com/home/#?modal_active=none Google (2016). Popular Times. Retrieved from https://support.google.com/business/answer/6263531?hl=en IBISWorld (2016, January). Healthy Eating Index. Retrieved from IBISWorld Database IBISWorld. (2016, September). National average minimum wage. Retrieved from IBISWorld Database IRS LLC, 2016. IRS Filing Requirements for a CheckBook IRA LLC. Retrieved from http://www.checkbookira.com/irs-filing-requirements-checkbook-ira-llc/ Jamba Juice. (n.d.). Jamba Juice innovation bar. Retrieved from Jamba Juice http://www.jambajuice.com/campaigns/innovationbar?alias=innovationbar Jacksonville Farmers Market. (2016, October). Retrieved from http://jaxfarmersmarket.com Jacksonville Magazine. (2016). Retrieved from http://www.jacksonvillemag.com John, J. (2014, May 05). ChargePoint and Schneider Partner in a Touch EV Charging Field. Retrieved from https://www.greentechmedia.com/articles/read/chargepoint-and-schneider-partner-in-tough-ev-charging-field Kelter, D. (2016, September). Innovation on the Menu – US – September 2016. Retrieved from Mintel Database Klemky, D. (2014, March 26). The benefits of EV charging stations. Retrieved from https://www.reminetwork.com/articles/the-benefits-of-ev-charging- stations/ References Page 22
  • 31. References Kueber, P. (2011, March 17). Put A Bulb In It: 24 Upcycled Pendant Lights Made From Thrifty Vintage Treasures. Retrieved from http://retrorenovation.com/2011/03/17/put-a-bulb-in-it-24-upcycled-pendant-lights-made-from-thrifty-vintage-treasures/ Lafferty, J. (2014, August 12). STUDY: 84 Percent Claim Facebook Offers Can Influence a Purchasing Decision. Retrieved from http://www.adweek.com/socialtimes/study-84-percent-claim-facebook-offers-can-influence-purchasing-decision/437109 Loopnet. (2015) 150 Riverside Avenue Demographics. Retrieved from http://www.loopnet.com/listingdemographics/18455653/ MailChimp. (2016). Retrieved from MailChimp.com Natures Table. (2016). Retrieved from http://naturestable.com Nation's Restaurant News. (n.d.). Most popular limited-service beverage and snack restaurants in the United States in 2015*. In Statista - The Statistics Portal. Retrieved from Statista https://www.statista.com/statistics/294888/most-popular-limited-service-beverage-snack-restaurants-us/ Nozari, E. (2015, March 10). Why Are Grain Bowls Suddenly Everywhere. Retrieved from https://www.zagat.com/b/why-are-grain-bowls-suddenly- everywhere Owen, J. (2016, April). Grain and Rice – US – April 2016. Retrieved from Mintel Database. Plug In America. (n.d.). State & Federal Incentives. Retrieved from https://pluginamerica.org/why-go-plug-in/state-federal-incentives/?location=fl QSR Magazine. (2016, May 4). Freshii Opens Seven Stores in Four Countries in Five Days. Retrieved from QSR Magazine https://www.qsrmagazine.com/news/freshii-opens-seven-stores-four-countries-five-days QSR Magazine. (2016, July 19). Tropical Smoothie Cafe Signs 80 Franchise Deals. Retrieved from QSR Magazine https://www.qsrmagazine.com/news/tropical- smoothie-cafe-signs-80-franchise-deals Reece, T. (2005). How to Use Coupons to Promote Your Business. Retrieved from http://www.businessknowhow.com/marketing/couponing.htm Regency Centers. (2016). Brooklyn Station on Riverside. retrieved from http://www.regencycenters.com/retail-space/fl/jacksonville/brooklyn-station-on- riverside#.WB_qzKOZNbU Reiter, A. (2015, June 13). Millennials Eat Out More - and Spend More When They Do - Than Non-Millennials. Retrieved October 27, 2016, from Food Network http://blog.foodnetwork.com/fn-dish/2015/06/millennials-eat-out-more-and-spend-more-when-they-do-than-non-millennials/ Revel Systems. (2016. Retrieved from revelsystems.com Richards, (n.d.). Cost of Employee Benefits for an Employer. Retrieved from http://smallbusiness.chron.com/cost-employee-benefits-employer-2694.html Roberts, W. (2016, July) Fruit – US – July, 2016. Retrieved from Mintel Database Robek’s Fresh Smoothie. (2016) Retrieved from http://www.robeks.com Ross, S. A., Westerfield, R., & Jordan, B. D. (2015). Essentials of corporate finance. 9th Edition. Boston, MA: McGraw-Hill/Irwin. Sassy Eats. (2015, March 5). One Pot Mexican Quinoa Bowl. Retrieved from http://sassyeats.com/quinoa-mexican-bowl/ Seng, K. (n.d.) Jacksonville Skyline Florida Duval County Panorama. Retrieved from http://captainkimo.com/jacksonville-skyline-florida-duval-county- panorama/ Smoothie King. (2016). Retrieved from http://www.smoothieking.com ShopKeep. (2016). Retrieved from http://www.shopkeep.com/#step-4 SimplyMap. (2016, October). Jacksonville, FL. Retrieved from SimplyMap SpyFu. (2016). Retrieved from http://www.spyfu.com StarFishSigns, 2016. 5 signs you can’t ignore. Retrieved from http://www.starfishsigns.com/vehicle-wrap-advertising-statistics-you-cant-ignore/ Steem It. (2015). Healthy Green Smoothie Recipies. Retrieved from https://steemit.com/food/@rowbvp/healthy-green-smoothie-recipes Talmadge, C. (n.d.) PB2: WHAT IT IS—AND 20 WAYS TO USE IT! Retrieved from http://www.eatthis.com/pb2 Taste Magazine. (n.d.) Retrieved from http://www.jacksonvillemag.com/about/taste-magazine/ The Riverside Market. (2016, October). The Riverside Market. Retrieved from Facebook Topper, A. (2016, May). Vegetables- US – May 2016. Retrieved from Mintel Database TouchBistro. (2016). Retrieved from http://www.touchbistro.com Tripod. (n.d). Smoothie Recipies. Retrieved from http://smoothierecipes.tripod.com/ Tristano, D. (2016). Are Build-Your-Own Snacks The Next Big Food Trend?s Retrieved from http://www.forbes.com/sites/darrentristano/2016/03/04/are-build-your-own-snacks-the-next-big-food-trend/#1efdb9c980eb References Page (continued) 23
  • 32. References References Page (continued) 24 Tropical Smoothie Café. (2016). Fresh Food. Retrieved from Tropical Smoothie Café https://www.tropicalsmoothie.com/fresh-food/limited-time-offers-food United States Census. (2015). Jacksonville city Florida QuickFacts from the Us Census. Retrieved from http://www.census.gov/quickfacts/table/PST045215/1235000 USHFC (n.d.) About the United States Healthful Food Council. Retrieved from http://ushfc.org/about/#fancy-form-delay WrapCity, 2016. Car Wrap City. Retrieved from https://carwrapcity.com Yelp. (2016). Retrieved from https://www.yelp.com/biz/natures-table-jacksonville
  • 33. AppendixA:MarketingDemographic 25 Appendix A: Marketing Demographic Fresh Garden Eatery has an impressive marketing plan to appeal to the people within the area as well as tourists who visit downtown Jacksonville Florida. A diverse promotional mix was utilized to assure the target market and those who are interested in the concept are reached. Fresh Garden Eatery pride themselves on fresh produce and quality food and have chosen to implement that to all through various tactics. Product: Fresh Garden Eatery strives to deliver the highest quality produce and assures a satisfying meal to every customer. Price: Our prices align with the quality of our produce from our local farmers market. Produce is brought in Monday, Wednesday, and Friday afternoon to assure freshness. Our prices are reasonable for our target market and are set at a competitive level for demand. Place: Our location exists within a complex called Brooklyn Station in downtown Jacksonville Florida. The current businesses in the complex make our eatery an ideal local. Also, downtown Jacksonville estimates 9.3 million visitors annually making our location an attraction for tourists. Promotion: Social media advertising, online advertising and traditional advertising will be used to suit our target market. Our eatery will target the residing area as well as the visitors during our peak months. 4 P’s Figure 31: Target Market Source: Talmadge, (n.d.) Marketing Tactics A large portion of the budget is spent on social media advertising. The target customer use social media often, so it is crucial to get advertisements on social media. The wrapped truck will generate thousands of impressions for a relatively low cost. People will see the truck driving all over the city with the logo on it and want to come see what the restaurant is all about. One way to spread awareness is to open up a stand at the local farmer’s market. Doing it once a month will allow people other than our target market to have a chance to try the products. Google Adwords will provide the chance to be seen by people who are using Google. By paying $.15 per click, Fresh Garden Eatery will become one of the first links that pops up. The competitors in the area do not use Adwords, so this will be an advantage. Two large window clings for the front of the restaurant will give people the chance to see the brand before the grand opening. The visual with the logo included will generate interest before the doors even open. The flyers and brochures will be passed out prior to opening with the info on the window clings. The more people that are exposed to the brand, the better the grand opening turn out will be. Finally, the membership is implemented through the mobile app and offers exclusive deals. Marketing Budget The customer demographic was determined by the market trends in figure 32. Figure 32: Market Trends Source: BluePrint Marketing
  • 34. AppendixB:Menu 26 Feelin’ Fruity Strawberries, coconut milk, bananas and soy protein Veggie Paradise Spinach, kale, apples, celery, cucumbers, almond milk and honey Protein Central Banana, whey protein, coconut, blueberries and coconut milk Berries on Berries Raspberries, strawberries, blackberries and almond milk Nilla Vanilla, soy protein, honey, almond milk and bananas Lemonade K Pineapple, kale, cucumber and lemon Fruity Fun Strawberries, pineapple, bananas and blueberries Flamango Mango Mangos, pineapple, orange, and whey protein Beet-It-Up Beets, strawberries, blueberries, spinach, mangos and coconut milk Orange you Madness Carrots, mango, orange, banana and almond milk Berries for Grantate Pomegranate, strawberries, blueberries and soy protein Fresh Herbs: Cilantro Mint Parsley Dill Basil Oregano Grains: Organic Quinoa Fruit (2): Blueberries Apples Avocado Banana Blackberries Raspberries Coconut Mango Melon Orange Pear Pineapple Strawberries Pomegranate Veggie (2): Broccoli Beets Corn Cucumbers Carrots Red Onions Green Onions Edamame Cauliflower Celery Spinach Kalamata olives Liquid: Almond Milk Coconut Milk Honey Toppings: Whey protein Soy protein Almonds Vanilla Cinnamon Pistachio Chia Figure 33: Bowl Menu Figure 34: Smoothie & Juice Menu Appendix B: Menu Smoothie & Juice 8oz: $3.99 12oz: $4.99 16oz: 5.99 Bowl 1 Cup: $7.49 2 Cups: $8.99
  • 35. AppendixC:ISComparison 27 System/Features Revel ShopKeep TouchBistro Accounting Integration  (QuickBooks)  (QuickBooks)  (SHOGO, Xero) Marketing Integration  (Multiple 3rd party)  (MailChimp) NO Cloud-Based   NO Inventory Management    Employee Management    (7Shifts) Menu Customization    Price 1st $119, 2nd $79 $49 per terminal $69 for 1, $129 for 2 Customer Loyalty  (Multiple 3rd Party)  (AppCard)  (SmoothPay) Online Ordering  (Revel as well as multiple 3rd party)   (Just Eat) Table 10 : IS Comparison Appendix C: IS Comparison
  • 36. AppendixD:ShopKeepDashboards 28 Manager Dashboards Employee/Sales Lead Dashboards ShopKeep has a dashboard integrated into the system that is able to track average ticket price as well as average customers which the manager will check daily. Along with the POS, showing a dashboard ShopKeep now has the option to check the dashboards on the go through their mobile application. The custome dashboards as shown above will be viewed monthly by the manager. There dashboards include food cost percentage, wage cost percentage, and basket analysis dashboards. Food cost percentage is important to track because this will allow the manager to quickly see the relationship between the food cost and food sales. If food cost exceeds 34% the manager will need to analyze why the food costs have increased. The restaurant industry average for food cost percentage is 32%, but since the quality of the food is higher the benchmark used is 34%. Wage cost percentage is important to check monthly, because at certain times of the season the amount of employees is different, making sure the ratio of employees to sales is balanced is necessary. The benchmark the manager will be using is 29% as identified as the industry average for limited-service restaurants. Another factor the manager will need to analyze is in the summer months should be the peak of the wage cost percentage as that is the peak season for the business. The next dashboard the manager will see if the basket analysis. This allows for the manager to track how many items are being purchased. If there is a decline in how many items the customers purchase the manager is able to approach the problem immediately. Since there is no industry average for the basket analysis Fresh Garden Eatery has established 2 items as the minimum for the benchmark because if two items are not being bought the ticket price will decrease. Altogether the manager needs to track food cost percentage, wage cost percentage, and basket analysis in order to run Fresh Garden Eatery Efficiently (Carty, n.d.) The employee and sales lead dashboard will include the conversion rate and customer satisfaction. Conversion rate will show how many people actually buy items when they walk in the store. This is important for employees and sales lead to see everyday because if the conversion rate is trending low they are able to confront the problem. The benchmark used for conversion rate is 90%. If the conversion rate were to go below this percentage employees and sales lead should review the problem. Customer satisfaction will be tracked through online surveys and this dashboard is relevant because if there are an unusual amount of complaints employees and sales leads are able to reflect back on the situation immediately allowing for the problem to be solved. The benchmark set for complaints is 4, because if there are more than 4 complaints in a given month there is an underlying bigger issue. The employees will be monitoring dashboards weekly in order to stay on top of the an issues to arise. Appendix D: ShopKeep Dashboards Figure 35: Food Cost % 0% 10% 20% 30% 40% JAN FEB MAR APRIL MAY JUNE JULY AUG SEPT OCT NOV DEC Food Cost % Figure 36: Wage Cost % 0% 10% 20% 30% 40% JAN FEB MAR APRIL MAY JUNE JULY AUG SEPT OCT NOV DEC Wage Cost % Figure 37: Basket Analysis 0 1 2 3 4 JAN FEB MAR APRIL MAY JUNE JULY AUG SEPT OCT NOV DEC Basket Analysis Figure 38: Conversion Rate 86% 88% 90% 92% 94% 96% 98% 100% Conversion Rate Figure 39: Customer Satisfaction 0 1 2 3 4 Customer Satisfaction (Complaints)
  • 37. AppendixE:WrappedSUV&Location 29 Wrapped Vehicle Location Figure 40: Wrapped SUV Figure 41: Brooklyn Station Source: Regency Centers (2016) The Jacksonville Farmers Market is within 2 miles and according to their website (2016) they are open daily dawn to 6PM. Riverside Arts Market is within .7 miles or a 12 minute walk, and according to their Facebook (2016), it is open every Saturday from 10AM- 4PM. Within the same complex there is The Fresh Market which is a healthy grocery store serving the Jacksonville area. The rest of the stores in the complex include a clothing boutique, nail salon and a hair salon as shown in figure 41. Along the backside of the location there is a 310 unit apartment complex that was more than 90% rented when it was opened in April 2015 (Gilliam, 2016). To the left of the location is another apartment complex called “The 220 Riverside” which is a 294 unit complex that has also reached over 90% since opening in May 2015. Next to 220 Riverside apartment complex is the Unity Plaza which is an urban park that also hosts community events. Surrounding the location are multiple higher end restaurants, like Zoës Kitchen. To the front of the location (across the street) there is a Winston Family YMCA which is a membership gym. Altogether the location chosen has many aspects proving it is the best location for Fresh Garden Eatery. Appendix E: Wrapped SUV & Location
  • 38. General Manager A general manager must have a college degree as well as prior management and food service experience. The lead manager on at the restaurant will carry the most responsibility. Some of their responsibilities include keeping an accurate inventory to make sure that the business has all the necessary items to carry out daily operations as well as proper scheduling of shift leaders and associate employees. It will be their responsibility to go to the local market multiple times a week to make sure that a fresh stock of inventory is kept at all times. Another main quality valued for this positon Is a passion for healthy foods, as well as a healthy life style. The general manager should also provide a detailed plan to the shift leader to make sure that tasks and shift are executed correctly and effectively.  Leadership  Keeping accurate records  Organization  Accurately stocked & rotated inventories  Scheduling Duties AppendixF:EmployeeRoles Shift leaders should have experience similar to the general manager in regards to leadership and food service. They may be working towards a college degree, but should at minimum have a high school diploma. A responsibility of the shift leader involves completion of daily tasks that are provided by the general manager. Shift leaders will also be responsible for opening and closing out shifts a few days a week. When the general manager is not present shift leaders are responsible for supervising associate employees. Shift leaders must also be able to direct employees on both closing and opening procedures to ensure cleanliness and proper food standards when the manager is not present.  Organization  Communication  Leadership  Overseeing associate operations Shift Leader Duties Associate Duties Associates may or may not have prior food service experience and should have or be working towards a high school diploma. The primary job of an associate is to take and prepare customer orders. Associates should be kind and show a passion for a healthy lifestyle. Associate employees are also responsible for consolidation of orders and serving customers. They must also take part in daily activities to ensure that the stores remains clean and up to code to provide a comfortable and friendly environment. All employees should take pride in their work and strive to complete tasks well and in a timely manner.  Friendliness  Health passionate  Efficiency  Team player  Listening skills  Work ethic Figure 42: Organizational Structure 30 Appendix F: Employee Roles
  • 39. MON 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM Shift: 7:30- 5:30 M M M M M M M M M M M 7:30- 2:00 P1 P1 P1 P1 P1 P1 P1 P1 7:30- 2:00 P2 P2 P2 P2 P2 P2 P2 P2 1:30- 7:30 P3 P3 P3 P3 P3 P3 P3 P3 1:30- 7:30 S1 S1 S1 S1 S1 S1 S1 S1 AppendixG:Schedule Appendix G: Schedule MON 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM Shift: 7:30- 5:30 M M M M M M M M M M M 7:30- 2:00 P1 P1 P1 P1 P1 P1 P1 P1 7:30- 2:00 P2 P2 P2 P2 P2 P2 P2 P2 1:30- 7:30 P3 P3 P3 P3 P3 P3 P3 P3 1:30- 7:30 S1 S1 S1 S1 S1 S1 S1 S1 MON 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM Shift: 7:30- 5:30 M M M M M M M M M M M 7:30- 2:00 P1 P1 P1 P1 P1 P1 P1 P1 7:30- 2:00 P2 P2 P2 P2 P2 P2 P2 P2 1:30- 7:30 P3 P3 P3 P3 P3 P3 P3 P3 1:30- 7:30 S1 S1 S1 S1 S1 S1 S1 S1 31
  • 40. THURS 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM Shift: 7:30- 5:30 M M M M M M M M M M M 7:30- 2:00 P4 P4 P4 P4 P4 P4 P4 P4 7:30- 2:00 P5 P5 P5 P5 P5 P5 P5 P5 1:30- 7:30 P6 P6 P6 P6 P6 P6 P6 P6 1:30- 7:30 S2 S2 S2 S2 S2 S2 S2 S2 AppendixG:ScheduleContinued Appendix G: Schedule FRI 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM Shift: 7:30- 5:30 M M M M M M M M M M M 7:30- 2:00 P4 P4 P4 P4 P4 P4 P4 P4 7:30- 2:00 P5 P5 P5 P5 P5 P5 P5 P5 1:30- 7:30 P6 P6 P6 P6 P6 P6 P6 P6 1:30- 7:30 P3 P3 P3 P3 P3 P3 P3 P3 1:30- 7:30 S1 S1 S1 S1 S1 S1 S1 S1 SAT 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM Shift: 7:30- 5:30 S2 S2 S2 S2 S2 S2 S2 S2 S2 S2 S2 7:30- 2:00 P4 P4 P4 P4 P4 P4 P4 P4 7:30- 2:00 P5 P5 P5 P5 P5 P5 P5 P5 1:30- 7:30 P6 P6 P6 P6 P6 P6 P6 P6 1:30- 7:30 S1 S1 S1 S1 S1 S1 S1 S1 32
  • 41. SUN 7:00 AM 8:00 AM 9:00 AM 10:00 AM 11:00 AM 12:00 PM 1:00 PM 2:00 PM 3:00 PM 4:00 PM 5:00 PM 6:00 PM 7:00 PM 8:00 PM Shift: 10:30- 6:30 S1 S1 S1 S1 S1 S1 S1 S1 S1 S1 10:30- 2:30 P1 P1 P1 P1 P1 10:30- 6:30 S2 S2 S2 S2 S2 S2 S2 S2 S2 S2 AppendixH:ScheduleContinued Appendix G: Schedule Continued In order to identify when Fresh Garden Eatery will operate, Google (2016) popular times was analyzed for the surround businesses including The Fresh Market and Smoothie King. From the information from these two businesses it was identified the best hours of operation would be from Monday-Saturday 8AM-7PM, and Sunday 11AM-6PM . After analyzing the popular times it was identified that each day is busiest in the middle for around 4 or 5 hours. In order to cost effectively run Fresh Garden Eatery, a small well-balanced staff must be constantly maintained.. A schedule has been implemented for Fresh Garden Eatery structured for peak and low hours of operation as discussed above. The proposed staff consists of one manager, two supervisors, and six part time employees. The manager will oversee all operations, as well as make three weekly trips MWF at 3:30PM to the farmers market to make sure an efficient inventory is maintained at all times. The manager will also be paid a yearly salary of $36,000 and with benefits it is $45,000 yearly. To find the benefits we used the base salary multiplied by 1.25 (Richards, 2015). The two supervisors will over-see shifts of the part-time employees and will be paid on a base hourly rate of $10.50 per hour. The last component will consist of six part time employees to make sure that an adequate staff maintained to accommodate for customer demand’s at all times. They will all be paid at a rate of $8.05 per hour (Florida’s minimum wage), the number of six employees was chosen to make sure that hours per part time worker stay below 32 in order to make sure additional cost aren’t factored in such as benefits and overtime pay. In order to find the cost of wages the schedule above was used to calculate the total hours to be worked in a week by the employees. Schedule Key M Manager S (1 & 2) Supervisor (1 & 2) P (1-6) Part-time Employee (1-6) 33 Table 11: Employee Schedule Table 12: Wage Cost Breakdown Part-Time Employee Pay 118 (Weekly) $8.05 118 * $8.05= $949.90 (Weekly) $949.9 * 52= $49,394.80 (Yearly) Supervisor Pay 56 (Weekly) $10.50 56 * $10.50=$588 (Weekly) $588 * 52= $30,576 Manager Pay Salary $45,000 (Yearly with Benefits) Wage Cost Total Wage Cost Total $49,394.80 + $30,576 + $45,000 = $124,970.80
  • 43. AppendixH:WorkBreakdownStructure 35 Table 13: Work Flow Appendix H: Work Breakdown Structure
  • 45. AppendixI:Financials 37 Appendix I: Financials Fresh Garden Eatery Break Even Analysis Table 15: Capital Budget Figure 43: Break Even Table 16: Contribution Margin
  • 46. AppendixI:Financials 38 Sales Calculations Costs of Goods and Occupancy Costs Direct Store Expenses General and Administrative Costs Appendix I: Financials Table 17: Income Statement Table 18: Sales Table 19: COGS and OC Table 20: Store Expense Table 21: General and Admin Cost
  • 47. • Pay Back Period Chart shows the amount being owed. Followed by the year cash flow budgets • After the 4th Year there is a remaining balance of $60,839.31, taking in to account the horizon value Fresh Garden Eatery can pay back the amount in a little over a third into the fifth year • Resulting in a payback period of 4.35 Years Fresh Garden Eatery: Weighted Average Cost of Capital Decision Making Criteria Payback Period Appendix I: Financials AppendixI:Financials 39 Table 22: AVG COC Table 23: Decision Making Criteria Table 24: Payback Period
  • 48. AppendixI:Financials Appendix I: Financials Table 26: Pre-opening CostsTable 25: Reoccurring Costs 40
  • 49. AppendixJ:EVChargingStations Table 27 describes the costs associated with the installation of charging stations for electric vehicles. The model that would be used is the level 2 curbside. It would give the customers the opportunity to charge their vehicles while they eat in the restaurant. There are several benefits for the business of installing these stations. As an incentive Jacksonville, Florida gives a $200 rebate per charging station installed (Plug In America n.d.). Installing these charging stations could also drive business because people will go inside and eat while waiting for their car to charge. To get the pricing for the EV charging station a median of the above costs was used to get a a total of $8,899 as shown in table 28. Appendix J: EV Charging Station 41 Table 27: Charging Station Cost Source: EVSolutions, 2014 2 Charge Stations Price Rebate Total Schneider Electric EVlink 30 Amp Level-2 Outdoor Dual Unit Pedestal Electric Vehicle Charging Station 2,499 200 2,299 Electrician Costs 1,500 / 1,500 Other Material & Labor 5,000 5,000 Permit 100 100 Total 8,899 Table 28: Fresh Garden Eatery Charging Station Cost