Chocolate Lounge & Bar
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Transcript of Chocolate Lounge & Bar
Location & Ownership
THE CHOCOLATE LOUNGE: OPP. JUHU BEACH & RAMADA PALM GROVE HOTEL, JUHU TARA ROAD, JUHU, MUMBAI-49
PARTNERS IN BUSINESSUTKARSH HALDIARESHMA HEBBAR AKANKSHA SHAHKORANGI VORARAJ AJMERASIMRAN DEEP
Executive Summary
In Mumbai, the service industry is highly saturated with restaurants, cafes, pubs, and nightclubs. In order to enter such a market, you need to introduce a new idea.
With “Chocolate Lounge”, it is exactly what we intend to do. “Chocolate lounge” brings with a new concept and idea, in which it’s general idea is CHOCOLATE and mainly all its products are chocolate based.
Our lounge will have a transforming nature between the day and the night.
In the day it is mainly a café and a restaurant, where our customers would have breakfast or lunch, and also study or conduct business meeting in a calm atmosphere. However, during the night, our lounge radically transforms into one of the hippest pubs in town, where the best music is played and the most exquisite drinks are served.
Executive Summary
What we serve and our general idea is mainly enjoyed by people seeking a place to study or a classy and lively pub; such people are mainly categorized as students and working adults in their 20s 30s and 40s.
With our “more for more” strategy, we limit our atmosphere to higher middle class. We offer “more” products, better quality, and an innovative, new idea, for prices maximally getting to an expensive Rs. 1,500 a couple, yet fully compensated for with our services.
We recognize our competitors fully, and understand their strengths and the threats they pose on us, and consequently we developed a well understood SWOT analysis that helps us in turn recognize our own strengths, weaknesses, opportunities and threats.
NATURE COST PER UNIT TOTALRent 6,25,000 75,00,000
Purchase of Furniture 75,00,000
Purchase of Equipments 25,00,000
Kitchen equipments 47,00,000
Music System 4,50,000
Reserve fund1,50,00,000
Television & Computer system 7,00,000
Licensing 30,00,000
Advertising 1,00,00,000
Water + electricity + Telephone bills 5,00,000 per month 60,00,000
Inputs[ingredients ] 9,00,000 per month 1,08,00,000
Team training 2,00,000
Interest on loan 53,90,000
Miscellaneous expenses 90,000
Employee salary 2,50,000
Employee uniform 50,,000
Cost of casher: casio 49,000
Cost of decoration + interior designer1,00,00,000
TOTAL 9,11,79,000
Estimated Expenditure
Financial Plan
Loan of 4,00,00,000 from HDFC Ltd. @ 10% interest p.a.
The remaining capital by partners(equally).
We’re expecting a sale of 7,20,00,000 i.e. Rs. 20,000 a day in our first year.
By this we recover most of our expenses and the remaining would be overcome by the first two months of the next year.
Description of business:Introduction to the lounge
Connotation of being joyful, comforting and special as a symbol of diverse human emotions.
Chocolate is prestigious, romantic, nostalgic and an object of fantasy and addiction for children
We are introducing a new chocolate culture concept and a chocolate bar experience in the Indian market.
Unique experience of exquisite chocolate gourmet products.
During the day a place to turn free time into quality time and in the night a pub that creates a comforting and chilling experience
Description of business:Mission Statement
“The Chocolate lounge” mission statement : ‘Establish “chocolate lounge” as the premier purveyor of the finest chocolate to customers, the best store and lounge in Mumbai and ensure a continuous strive towards perfection and precision in excellent quality .’
Create exclusive chocolate based products. Integrate chocolate in our customers’ everyday
life Establish an addictive product Be known for our unique customer relationships. Ensure an appropriate atmosphere
Description of business: Environmental Mission Statement
““The Chocolate lounge” is committed to an environmental role in all aspects of our operations”
This mission will be fulfilled by
accomplishing these steps: Guarantee a clean and healthy environment at the
workplace following the highest level of hygiene. Use environmental friendly products. Encourage participation in environmental activities. Maintain good social and environmental responsibility.
Description of business:Positioning the market
Positioning is how the company is seen through the eyes of its consumers by emphasizing on our beneficial differences in our customers minds.
Through a new concept, we offer “more” benefits with a price exceeding our competitors’ because the products we will be offering will be unique in the market.
Positioning the market
Our positioning statement: To college students, working people, groups of friends, “Chocolate Lounge” is the first of its kind in Mumbai, a cafe during the day and a pub in the night; it is the place to be all day long.
Market Segmentation
Customer Based Segmentation Geographic location: It Is The Stating Point Of All
Market Segmentation. It Will Help In Planning Its Marketing Offer.
Demographic Characteristics: Targeting Mainly 1. Child Market(1-12)
2. Teens Market(13-19)
3. Adolescent Market(16-19)
4. Youth Market(20-35)
Psychographic Variables Buyer Readiness
Review of Competition
Because the market is saturated with likes of our café we find ourselves facing many competitors that also bring a special concept into the market.
Our competitors are all cafés, pubs and lounges in the are surrounding our store.
Coffee Houses: Costa Coffee, CCD, Barista, Bru World Café etc
Pubs: Hometown Café, Ramada etc.
We Offer High Quality Products At Reasonable Price
Constant Innovation Flexible In Nature Minimize Risk Coordination Improving
Performance Promotion At Extreme
Level Generate Goodwill
Competitors Strategy
Future Outlook
HOW TO BECOME EFFECTIVE MARKET LEADER???
Creative process We should also make sure that our customers’
needs and requirements are fulfilled Accelerates expansion and diversification New marketing tools Stability of tenure Optimum utilization of resources Objective oriented
Strengths
A new idea introduced to the market. The changing nature of the place(from a
hangout place in the day to a pub in the night) will attract a high diversity of customers, therefore a higher attendance.
Similar lounges have had successful experiences in other countries.
High quality products for a reasonable price. Can attract people looking for a place to study
in, and people looking for fun at the same time.
Weakness
A new concept, people might not easily grasp it.
We are facing too many competitors. Targets a single social class Lack of experience in this specific concept.
Although it is successful in other countries, there is a possibility of failure in Mumbai.
High number of employees to be able to cover day and night shifts, this will cost us extra costs.
Opportunities
The expansion of the chocolate culture worldwide.
The active Mumbai night life. The rarity of daytime hangout places in. The growing entertainment market.
Threats
The bad economical situation in the country. The explosive political situation. The high influence of word of mouth in Mumbai,
a bad first impression might cost us a lot. Increasing taxes will increase our start up costs. Competitors copying on the idea.
Organization Structure
GENERAL MANAGER
MANAGER
HEAD CHEF
ASSISTANT CHEFS
BARTENDER
CASHIER AND ACCOUNTS MANAGER
SUPERVISER WAITER
Staff Pre-requsites
General Manager: MBA CORE, PGD in hotel management and good work experience
Head Chef: Post Graduate Diploma in Catering and hotel management
Bartender: Diploma in bartending & good work experience
Chef: Diploma in Catering Manager: MBA in Hospitality Management
(from renowned institute) Accounts manager: MBA in finance,
with knowledge of Tally Other Staff: Diploma in hospitality Management
Inaugural Strategy
In order for our project to be in full operating scale, a number of steps are in need to be taken. Assuming work must be started in the next month, that is if our project was approved today.
FIRST MONTH: We need to choose a proper location for our business, the right place to rent, compatible with our budget and our needs.
SECOND MONTH: Hire an interior designer and contractor to make the proper arrangements and repairs in the chosen location.
THIRD MONTH: To make all the necessary installments. For e.g.: Computers, electricity, Kitchen supplies etc..
FOURTH MONTH:Recruitment of employees starts , arrange interviews , meet potential chefs and DJ’s to insure customer satisfaction and high quality.
FIFTH MONTH: 1)Organize every employee’s schedule between day shift and nightshift, as well as number of work days per week.
2)We should Perform necessary auditing and maintenance to make sure all operations will go smoothly.
Marketing Plan
Product: • “Chocolate lounge”, a high profile
restaurant and pub, offers a wide variety of chocolate products as well as hot and cold dishes for breakfast, lunch and dinnertime.
Price: • We are targeting higher middle income
groups. Place:• Near colleges & the beach, to maximize
footfall.
Promotion
Billboards and distribution of pamphlets outside malls, nearby colleges & offices
Magazines & Newspaper Radio Ads on online Sites such as Facebook &
Google Tie up with SnapDeal(for inaugural
offers) Make Pages on social networking sites to
keep customers up-to-date.
Total QualityManagement
Our aim is to make sure that we are taking corrective action and achieving our objectives and goals.
That is why a process of evaluation is needed from time to time.
This is why MIS (management information system) should be installed in our company, to make sure a professional control system is on hand.
The following tables summarize the control process that our company is going to pursue:
WHAT SHOULD BE
CONTROLLED
BY WHICH ACTIVITY HOW OFTEN
Customer approval andsatisfaction
Suggestions and surveys Monthly
Sales analysis Financial dataSales data
Monthly
Marketing &
advertisings response
Observation and response from the
customers
2 months
competitors Investigation andobservation
3 months
Employees Training 3 months
Performance andprogress
Market research 3 months
Conclusion
“Chocolate lounge” being a combination of a café, restaurant and a pub brings a new idea to the business offering generally chocolate based products.
We introduced a new chocolate culture concept and a chocolate bar experience in the market that incorporates each aspect of chocolate in our everyday hectic life. Our target customers are mainly middle to upper class university students, as well as young professionals in their 30s and 40s. Our target customers are of a high profile because in our lounge we implement a “more for more strategy”.
We also took into consideration the threats that our competitors pose on us. With our marketing mix being intact and well developed, we also came up with an action program that details our work in the upcoming months.
We also developed our budget for the years 2012/2013 considering all our expenses.