12/24/2012

Tsarskaya Creperie and Cafe

CITY COLLEGE
INTERNATIONAL
FACULTY OF
UNIVERSITY OF
SHEFFIELD
BUSINESS PLAN FOR A START-UP

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BUSINESS PLAN FOR A START-UP

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Executive Summary









































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Table of contents





















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1. Business Concept
1. 1. Description of the Company
In nowadays is a large competition in the service sector and especially in the
food sector with large amount of restaurants, caf and creperie. In the competition
environment play important role the service quality and location of the future
caf&creperie Tsarskaya. In other hand, the location needs to be convenient for
the target market, visitors and future visitors. Also, it is vital necessary to take into
consideration the competitors location and cost availability of location for the
Tsarskaya. The Tsarskaya crepes and caf will be located in New York with
biggest Russians population. The location of the crepes &caf restaurant will be
located in Bronx district and especially in the shopping area of Bay Plaza and near
also the location of baseball stadium of Yankees. The location was chosen in order
to face in front some advantages of the street like the central location, a large
amount of student campuses and entertainment zone. The main disadvantage of the
future location is the close proximity to competitors. The Tsarskaya supposed to rent
the place of 500-1000 square meters and the lease contract will be between $10000-
30000/annum (http://bronx.olx.com/q/restaurant-space-for-lease-in-the-bronx/c-368
).
1. 2. Business Idea
The main concept for this business idea is to provide in New York market with
future expansion to the whole country a different and unique type of crepes or
Russian nameBlini. Also, the atmosphere and design of the place will play important
role in attraction of potential customers. The place will be designed in traditional
Russian ways with representation of traditional Russian palaces and buildings. Also,
the success of the business idea lies in the specially produced crepes in traditional
Russian recipes. Also, Tsarskaya will offer a variety of Russian tea and coffee served
in traditional ways. In the beginning, the range of products and volume of
production would be small but later conquest of the consumer could give
opportunity to company to be expanded. In addition, the company will develop also
type of service as ordering products on the Internet, the delivery of products to home
or office. The Tsarskaya crepes and caf is planning to provide the following:
1) Russian baking pancakes and fritters.
2) Provision of services "takeaway"
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3) The range of cafes which include hot and cold appetizers, main breakfast and
lunch dishes, the wine list will be provided in full.
4) Organization of celebrations, banquets and anniversaries.

1. 3. Vision and Mission Statement.
Vision:
Always, in traditional ways at any time of the year - only fresh, high-quality products!
Mission:
The Tsarskaya has the objectives to become one of the main players in the service
market of NY by offering new segment of products such as traditional Russian crepes
and pancakes. Through differentiation the companies see the achievement of
objectives achievable.
2. Products and Services.
Tsarskaya company is engaged to manufacture and sale traditional Russian
pancakes, crepes products and related products. Products are always created in
high quality and fresh. The pancakes and crepes will be manufactured in traditional
ways without yeast dough implementation. Pancakes and crepes was always the
Russian traditional dish that create advantage in New York market to find Russian
customers and not only. In the manufacture of pancakes and related products will
not be used preservatives and concentrates. The company will offer the following
important features comparing with the customers:
High quality
Traditional recipe
Freshness
Excellent taste
Low-middle prices
The main products of the Tsarskaya will be the most successful in Ex-Soviet countries
recipes of crepes which are: Crepes Tsarskiye, Russian crepes and Ukrainian
Crepes.
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3. Market Analysis Summary.
3. 1. Market Situation analysis and opportunities.
Market analysis plays important role in the process of the preparation of
business plan. The restaurant industry growth faster than any other service industry in
United States by offering jobs to more than 12 million employees with national
average rate of 1.85 every year increase in jobs. The statistical information from
National Restaurant association of 2011 show, that the restaurant industry sales
achieved the amount of $610 billion dollars (National restaurant Association, 2011).
Also, more than 35% or U.S. restaurants are locally owned with simple management
form or owned by small restaurant chains. According to the National restaurant
association, the 80% of American citizens enjoy their meal at locally owned
restaurants and caf. The people last time became busier and demographically
changes in a worldwide scale. For example, the globalization is one of the factors
which affect the purchasing patterns and behavior and the second more and more
women are engaged to work or prefer the career and their job. All these factors
show that people more will depend in the future from restaurants. Also, the main
trend of nowadays population is the healthy and traditional food.


3. 2 Competitive Analysis.
Since the Tsarskaya crepes caf will be located in the most populated
districts of New York the downside to this area is the proximity of competitors that
offering similar services and products. In this location there are the main three
competitors of Tsarskaya which are the Crpe du Nord, Crperie NYC and Vive la
Crepe. Below is presented the table of the competitive factors comparing with
competitors.





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Factors Our Business Competitors
Tsarskaya Crpe du Nord


Crperie NYC

Vive la Crpe

Quality Fresh, tasty
product.
Always warm.
The food is not
fresh and of
high quality.
Pretty mediocre Always delicious
crepes.
Location Bronx district,
High traffic of
citizens.
Out of center,
not busy place.
Very busy place,
in the center.
In the center,
directly to the
bus stop.
Price level Low middle
class prices
High prices Above average. Average
Product
exclusivity
Russian
traditional
crepe's.
Not common
product in the
market.
Common
product
Common
product.
Common
product.
Variety 10-15 species. Small variety of
products
Varied menu Same variety
with our
business
Reputation of
the firm
New firm. Doubtful Known creperie,
repeat
customers.
Known creperie,
constant
customers.

Generally, the Tsarskaya has a low competition from the competitors due to
the differentiation of products. The most of the restaurants and caf in the area are
focusing mostly in lunch time dishes and providing the simple recipes of crepes. Also,
the Tsarskaya business concept focuses mainly in ethnic cuisine and drinks. The
others competitors of company is the indirect competitors or local coffee shops
which have an disadvantage in front Tsarskaya such as the atmosphere of the
stores that does not make very comfortable place to enjoy the meal. Also,
Tsarskaya has a competitive advantage such as extensive menu with traditional
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Russian pancakes and crepes with innovative and exciting food, focusing in service
quality and uniqueness with elegant Russian traditional design of place.
3. 3. SWOT Analysis.
Since the external and Internal environment all the time changing and the
company is under the influence at the current market, it is necessary to identify the
the strengths and opportunities for the Tsarskaya in the changing environment.
SWOT analysis helps a new business to understand and analyze the strengths and
weaknesses and the opportunities and threats of the environment.Tsarskaya
Creperie SWOT analysis is presented below:
Internal Environment- Strengths
Good geographical location
In the center, near metro station
Affordable prices
Innovative product ( Traditional Russian crepes and tea)
Modern equipment
High quality products
Individual service for customer needs

Internal Environment- Weaknesses
Lack of managerial experience
New business, no experience
Many competitors

External Environment- Opportunities
Unique experience at our store
Friendly environment
Not common product
Prompt and efficient customer service

External Environment- Threats
Unfavorable demographic changes
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inflation
reducing the overall level of purchasing power
Economic crisis

3. 4. Market Positioning
Tsarskaya creperie will be positioned as unique product in traditional
methods manufactured and one of the most important differentiating factors will be
the affordable price and variety of products. Below is represented the Market
Positioning map and the Tsarskaya position in the current market.





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4. Marketing Plan and Sales forecast.
4. 1. Market Strategy.
The main goal of theTsarskaya creperie is projected market penetration and
successive expansion of the market share. The main strategy established by the
company is to provide products in high quality with lower than competitors prices
with future expansion of the variety of products. Also, the Tsarskaya creperie take
into consideration the fluctuations in demand by stimulating the prices by creating a
strong brand image in the market. In order to succeed the established strategies
each company need to develop marketing plan.
4. 2. Marketing Plan.
Product
The "Tsarskaya" will provide a large variety of Russian traditional crepes or Russian well
known name for crepes "blini". For Russians the "blini" is a traditional food with large
history which make to "Tsarskaya" to succeed in the market through differentiation
from other creperie. The company will provide also a variety of non-traditional tea
with different forest herbages. The crepes will be made from wheat, buckwheat and
other grains which are the most common in Russia. The traditional recipes of crepes
include also the sauce or the crepes will be spread with butter, sour cream and
caviar which are very popular ingredient for Russians. Historical heredity of Russian
crepes obliges "Tsarskaya" creperie to honor Russian traditions by offering traditional
crepes and other dishes. The main characters of creperie menu - pancakes, crepes,
pancakes pies, fritters. A total amount of products in " Tsarskaya" creperie menu is
more than 80 menu items. The menu is not limited only with pancakes and crepes,
the breakfast customers will enjoy also for example the same scrambled eggs served
on thin pancakes.

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Place
Like any other restaurant the location play important role for the creperie. The
creperies are the common and favored food of students and busy people that want
to enjoy fast healthy food. For that reasons the best location for the creperie usually
the shopping malls, university campuses, the streets with large people traffic and
movie theatres. For the "Tsarskaya" creperie was chosen the shopping area of Bronx
district in New York. The Bay Plaza shopping center is one of the biggest shopping
centers in New York which make location of the creperie affordable and comfortable
for the customers. Also, in the area of Bronx situated several Universities which make
the location of "Tsarskaya" attractive and give an advantage to have high demand
through the year.
Promotion
Due to the new business, the "Tsarskaya" creperie will need to promote carefully the
business in order to cover the customers' needs and desires. At the beginning the
company plans to promote through public relations and media tools like magazines,
printed leaflets, outdoor billboards at the bus and subway station in the Bronx area
and radio. The printed leaflets will be shared and delivered to the local businesses
and residents' home. Due to the increased efficiency and usage of social network
"Tsarskaya" promotion campaign will be set up in social media tools such as
Facebook and Twitter. The magazines in the service and food industry are the
common way of promotion with high reputation for customers. The "Tsarskaya"
creperie had to be published through the famous U.S. cuisine and food magazines
such as Bon Apptit, Fine Cooking, Food & Wine, Gastronomica, Gourmet and Taste
of Home.

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Promotion and communication mix elements planning per month.
Advertising Price, USD. Quantity Cost per month,
USD
publication per
year
Radio 50 25 1.250 4 months
Magazines,
newspaper
200 10 2.000 2 months
Brochures 0.15 per
brochure
2000 300 5 months
Transport
stations
300 4 700 3 months
Total Cost $ 4.250

Price
For the price analysis the "Tsarskaya" creperie used the pricing strategy "cost
plus profit". The price is one of the most important marketing mix elements due to the
company's profits and development depends on price and operational expenses.
The company by establishing price needs to take into consideration the demand for
the products, the operational costs and the competitors' prices. The price for the
crepes will have price variation between $3, 50 -$ 10 depends of ingredients and
extra components ordered by customers. For the drinks the company will establish
the price between $2-$4 depends on drink.
4. 3. Target Market and Customer Analysis.
In order to succeed every new business need to understand and identify the
potential customers and to cover their needs and preferences. The "Tsarskaya"
creperie mostly target the New York Ex-Soviet ethnic group and the local residents of
Bronx district. But, for sure the other customers will find the products useful and
unexposed due to traditional ethnic cuisine from another country. "Tsarskaya"
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creperie also will focuses on students from the near Universities and sport- fans of
baseball team "Yankees" due to the near location of their stadium. The demographic
structure of customers will vary from 5-50 years old and especially young generation
and business people due to their busy daily program.
4. 4. Sales Forecast
Product 2012 ($) 2013 ($) 2014($) 2015($)
Drinks and other
Beverages
91800 105557 112140 121200
Tsarskye
crepes
74520 82800 85700 91116
Ukrainian crepes 54390 59450 65790 70879
Russian
crepes
36680 41290 45670 48670
Other
crepes
25570 28900 31290 35600

5. Operations Plan
5. 1. Operations description.
One of the keys of success is the right operations management. The main processes
and operations of the "tsarskaya" creperie are the service and sales of the products
to the customers in the store and outside the store by delivering the products.
Also, the traditional cooking process is very complicated and need
experienced chef and equipment. For the cuisine the company will order a variety of
crepes "TEFAL" machines in order to make easier and fast preparation of crepes. The
cooking time of crepes vary from 1.5 to 3 minutes depends on recipe and the
amount of ingredients. The crepes and cafe drinks will be offered to customers during
the whole operation hours of "Tsarskaya" creperie with elasticity program during the
week. The production and operational process of preparation and service of
pancakes and crepes would consist of the following actions operation:
1) Ordering process
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2) Cash
3) Quality control of ready crepes
4) Production and preparation of pancakes and crepes
5) Execution and delivery order

5. 2. Facilities
The interior design of "tsarskaya" creperie will be created in traditional Russian
styles and ways. The main concept of the interior is to represent the Russian interior
design during the times of Russian monarchy. The interior will have a simple, cozy and
quiet design. The service room will be more than 200 square meters. The tables and
other furniture will be made from valuable wood and the main part of furniture will be
handmade with Russian traditional symbols. Also, the place will be decorated with
old items such as Russian dolls "Matrioshka" and near the windows will be situated the
Russian traditional heated metal container or "Samovar". All the walls of "Tsarskaya"
creperie will be exhibited with a collection of pictures of the copies of Russian
painters. (See the photo examples of interior design)


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6. The Management and
Organizational Structure of the
"Tsarskaya" creperie.
Every business and the restaurant or creperie is no exception need a host of
business and employees with management and service skills. The "Tsarskaya" creperie
in the beginning stage will have the form of Limited Liability Company. The company
will be operated and managed by director who also is the owner of the company.
The director will have the legal entity to hire and get out the employees according to
the U.S. Labor laws and will participate in the labor force, punishments and applies
incentives. For the administrator and accountant positions will be established some
limitations of recruitment such as high education, work experience more than 3 years
and communication skills. The administrator will be responsible for the operation
process, the provision of raw materials and staff negotiations. The accounant will be
responsible for the financial operations of company with monthly reporting to the
owner. Also, the accountant will monitor the cash flows and inventory cash flows. The
other staff of "Tsarskaya" creperie will be presented with following staff:
1Cashier
1 Bartender
6Waiter
2 Cleaning staff
1 Dishwasher
Below is presented the Organizational structure of "Tsarskaya" creperie.
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7. Financial Plan
Startup cost
Starts up costs are the costs associated with the creation of a company. Some costs
obtained for the creation of "Tsarskaya" creperie is showed below.
Star up cost in USD:
Start up costs:
Rent costs 10.000
Legal services (Lawyer, employment contract) 700
Licenses 50
Taxes ( administration taxes and other taxes) 300
Equipment 50.000
Deposit for utilities 70
Leasehold Improvement 12.000
Salaries 8.000
Initial inventory 11.000
Advertising and promotion 10.250
Other expenses 5.000
Total Startup Cost 107.370
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Income Statement in $
Years 2012 2013 2014 2015
Sales 282.960 317.997 340.770 367.465
COS 30.000 34.000 38.000 40.000
Gross Profit 252.960 283.997 302.770 327.465
Expenses
Salaries 8.000 11.000 14.000 16.000
Salary commission 2.700 3.200 3.800 4.200
Director salary with commission 2.000 2.000 2.000 2.000
Phone 150 200 170 250
Water, electricity and heating 2000 2.500 2.300 2.900
Rent 50.000 50.000 50.000 50.000
Safety 1.000 1.000 1.000 1.000
Accountant 800 800 800 800
Maintenance 1.200 1.200 1.200 1.200
Advertising 4.250 4.250 4.250 4.250
Other expenses 1.500 1.500 1.500 1.500
Total expenses 73.465 77.650 81.000 84.100

Net Profit before tax 179.495 206.347 221.770 243.365
Tax 15% 26.924,25 30.952,05 33.265,5 36.504,75
Net profit after tax 152.570,75 175.394,95 188.504.5 206.860,25




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Break Even point
It is the point where the revenue or sales of a company equal to total costs. That is,
the point where the company has neither profit nor loss. To find the neutral must
distinguish between variable and fixed costs of our business. As, we can see in the
below statement the breakeven point of "Tsarskaya" creperie will occur in second
year of operation.



Cash Flow in $
"Tsarskaya" creperie cash flow yearly 2012 2013 2014 2015
Cash Inflows
Owner Investment 101.370
Beginning Balance 88.635,75 104.730,7 100.000
Cash Receipts 282.960 317.997 340.770 367.465
Total Cash Inflows 384.330 406.632,75 445.500,7 467.465
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Cash Outflows
Salaries 8.000 11.000 14.000 16.000
Safety 1.000 1000 1000 1000
Water, electronic and heating 2.000 2.500 2.300 2.900
Advertising 4.250 4.250 4.250 4.250
Accountant 800 800 800 800
Rent 50.000 50.000 50.000 50.000
Maintenance 1.200 1.200 1.200 1.200
Phone 150 200 170 250
Earning Tax 26.924,25 30.952,05 33.265,5 36.504,75
Start up Expenses 101.370 - - -
Total Cash Outflows 195.694.25 101.902,05 106.940,5 112.904,75
Cash at the end 188.635,75 304.730,7 338.560,2 354.560,25
2012 2013 2014 2015
Withdrawals 100.000 200.000 238.560,2 -

* Cash flow is the flow of income and expenditure of money in an account for a
period of time. Activities such as funding and donation can be set up to cause cash
inflows, while spending unnecessary investments and cash outflows.



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8. Risk Analysis
Every business in the first stages can face in front the challenges and failures or
in business words the business risks. The "Tsarskaya" creperie due to the new venture at
the beginning could face risks associated with sales and delivery service quality. After
the economic crisis in 2008 the economic world are in the non-steady that make the
new venture risky. Usually the new ventures need to take into consideration the
economic and political factors of each country. Below in the market analysis was
defined that the U.S. market has slow growth that reduce the risks for the "Tsarskaya"
creperie. Also, the companies usually at the first stages face in front the risks
associated with low demand. But the most of surveys show that the new ventures
failure due to the not detailed market research, underestimate competition and the
financial plan is not achievable.


9. Conclusion and Further
Suggestions
In conclusion, the current situation in the service market obliges the new
ventured to develop carefully the business concept and plan in order to succeed in
the competitive market. The business plan for "Tsarskaya" creperie was developed in
order to launch new business in the U.S. market and especially in the New York. The
market situation analysis show thta the market provide a large amount of
advantages and opportunities for the creperie which will provide new differential
product such as traditional Russian crepes and pancakes. The creperie all the time
was popular place for people who enjoy their breakfast or lunch by eating healthy
fast food. The main strategies of the creperie "Tsarskaya" is the expansion in the
market with later increasing of market share. The low prices comparing with
competitors make the objectives achievable. The creperie "Tsarskaya" has a variety
of advantages such as the new business concept with new ideas and differentiation.

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