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Pamela Gutiérrez
Daniela Uribe
Eren Kongu
Rafael González
Modern
Warm
Fresh
Healthy
Service
Experience
Customization
Product
• What is a Simit?
• How do you prepare it?
SWOT Analysis
STRENGHTS
Novelty Product
Easy to produce
Freshness.
Prices
Culturally flexible.
WEAKNESSES
Novelty
Image
Culture
OPPORTUNITIES
First mover advantage.
Product transformation.
Expansion.
Franchising.
Economic incentives.
THREATS
Substitute products.
Competition.
Customer loyalty.
Target
No gender discrimination
Only limited to infants
Medium and medium-high class, with medium and
medium-high purchasing power
Strategies
Marketing Expenses
- €
500.00 €
1,000.00 €
1,500.00 €
2,000.00 €
2,500.00 €
3,000.00 €
3,500.00 €
Pop-up Banners Simit Tasting Flyers Total
Pop-up Banner SimitTasting Flyers Total
570.00 € 969.12 € 1,324.80 € 2,379.36 €
Marketing Activities Chart
Location
Distribution Plan
1-Ordering
Area
2- Customization
3- Payment &Delivery
Legal Structure
Corporate Social Responsibility
Initial Investment
 Equity Investment
 Total start up capital expenditure
85,000 €
55,751 €
Projection Scenarios
Pessimistic
4%
Moderate
5%
Optimistic
6%
Food Consumption in Spain
 100BN € were spent on food consumption in Spain, 2013.
 32BN € were spent on “extradomestic” food consumption.
 AverageTicket Price – 4.81 €
Simit Salty Simit Sweet
Simit
Coffee 1.5
cl
Beer 33cl Soda 33cl Water 33cl
2.00 € 4.00 € 3.00 € 1.20 € 1.50 € 2.00 € 1.00 €
Food Consumption by Month
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
Traffic Calculation
100%
32%
9%
172k persons 55k persons 4.8k persons
Sales Projections – Moderate Scenario
-
50,000
100,000
150,000
200,000
250,000
300,000
2015 2016 2017
Units Sales
2015 Units
Sold
2015 Sales
Revenue
2016 Units
Sold
2016 Sales
Revenue
2017 Units
Sold
2017 Sales
Revenue
92,706 200,445 € 106,256 241,230 € 111,569 265,956 €
Variable Costs – Simit Prodution
Ingredient 100 Units Price 45,935 Units Cost 52,649 Units Cost 55,281 Units Cost
Flour gr 7,142 12.50 € 3,280,701 5,741.23 € 3,760,221 6,711.99 € 3,948,232 7,259.02 €
Pekmez- Molasses ml 2,142 2.93 € 983,935 1,347.99 € 1,127,750 1,575.92 € 1,184,138 1,704.36 €
Sunflower oil ml 28 0.01 € 12,862 4.12 € 14,742 4.81 € 15,479 5.20 €
Yeast gr 65 0.27 € 29,858 125.40 € 34,222 146.61 € 35,933 158.56 €
Salt ml 7 0.44 € 3,215 200.97 € 3,685 234.95 € 3,870 254.10 €
16.15 € 7,419.70 € 8,674.28 € 9,381.23 €
2015 2016 2017
TOTAL
Cost per ingredient
Units sold Cost Units sold Cost Units sold Cost
45,935 7,419.70 € 52,649 8,674.28 € 55,281 9,381.23 €
2015 2016 2017
Variable Costs – Simit Production
2015 2016 2017
Units sold Cost Units sold Cost Units sold Cost
45,935 7,419.70 € 52,649 8,674.28 € 55,281 9,381.23 €
-
10,000
20,000
30,000
40,000
50,000
60,000
2015 2016 2017
Units Cost
Variable Costs – Customizations
Ingredient Weight Cost 15 gr 30 gr 100 gr
Ham (Iberico) 7 kg 130.00 € 0.28 € 0.56 € 1.86 €
Chorizo (Iberico) 1 kg 12.40 € 0.19 € 0.37 € 1.24 €
Salchichon (Iberico) 1 kg 10.70 € 0.16 € 0.32 € 1.07 €
Cheese (Burgos) 1kg 7.56 € 0.11 € 0.23 € 0.76 €
Chocolate 550 gr 3.30 € 0.05 € 0.10 € 0.60 €
Units sold Cost Units sold Cost Units sold Cost
30,902 19,696.49 € 35,419 23,026.91 € 37,190 24,178.25 €
* 3% cost increase in 2017
* 2% cost increase in 2016
2015 2016 2017
Cost per Gram
Variable Costs - Customizations
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2015 2016 2017
Units Cost
Variable Costs - Additionals
0
20000
40000
60000
80000
100000
120000
Vegetables Beverages Napkins & Bags
2015 Units 2015 Costs 2016 Units 2016 Costs 2017 Units 2017 Costs
TotalVariable Costs
2015 2016 2017
Simit 7,419.70 € 8,674.28 € 9,381.23 €
Customizations 19,696.49 € 23,026.91 € 24,178.25 €
Vegetables 462.50 € 540.71 € 584.77 €
Beverages 7,256.11 € 8,483.03 € 9,174.39 €
Bags and Napkins 1,148.38 € 1,278.63 € 1,451.98 €
Total 35,983.19 € 42,003.55 € 44,770.63 €
2015 2016 2017
35,983.19 € 42,003.55 € 44,770.63 €
TotalVariable Costs
- €
5,000.00 €
10,000.00 €
15,000.00 €
20,000.00 €
25,000.00 €
30,000.00 €
35,000.00 €
40,000.00 €
45,000.00 €
50,000.00 €
2015 2016 2017
Units
Fixed Costs
Income Statement
SALES REVENUE 2015 2016 2017
200.445 € 241.230€ 265.956 €
COST OF PURCHASE 2015 2016 2017
35.983 € 42.004 € 44.771 €
Gross Margin 160.453 € 194.402 € 215.866 €
Returns to Vendor 4.009 € 4.825 € 5.319 €
Operating Expenses
Total Marketing Expenses 4.303 € 2.921 € 3.009 €
Total General and Adminstrative Expenses 172.963 € 150.051 € 155.783 €
TOTAL OPERATING EXPENSE
177.266 € 152.972 €
158.792 €
EBITDA - 16.813 € 41.430 € 57.074 €
INTEREST € - € - € -
DEPRECIATION 3.251 € 3.251 € 3.251 €
EBT - 20.064 € 38.179 € 53.823 €
Tax (%25) € - 4.529 € 13.456 €
Net Income - 20.064 € 33.650 € 40.367 €
Cash Flow
Start-Up 2015 2016 2017
Cash In
Cash Sales 176.793 € 200.945 € 208.510 €
Collections from Accounts
Receivables
17.548 € 33.638 € 49.761 €
Equity Received 85.000 € 85.000 €
Total Cash In 85.000 € 279.340 € 234.583 € 258.271 €
Total Cash Available 85.000 € 308.589 € 274.879 € 332.342 €
Total Cash Out 55.751 € 239.044 € 205.308 € 216.556 €
Yearly (cash in - cash out) 29.249 € 40.296 € 29.275 € 41.715 €
Beginning Cash Balance - - 40.296 € 69.571 €
Ending Cash Balance 29.249 € 40.296 € 69.571 € 111.286 €
Balance Sheet
ASSETS 2015 2016 2017
Cash in hands 40,296.02 € 69,570.79 € 111,285.58 €
Accounts Receivables 1,702.97 € 2,816.28 € 4,139.93 €
Inventory 1,016.81 € 2,513.27 € 3,242.64 €
Security Deposits 4,000.00 € 4,000.00 € 4,000.00 €
CURRENT ASSETS 47,015.80 € 78,900.34 € 122,668.15 €
Office Equipment 22,221.00 € 22,221.00 € 22,221.00 €
Accumulated Depreciation 3,250.62 € 6,501.24 € 9,751.86 €
NET FIXED ASSETS 18,970.38 € 15,719.76 € 12,469.14 €
TOTAL ASSETS 65,986.18 € 94,620.10 € 135,137.29 €
LIABILITIES
Accounts Payables 1,050.00 € 1,050.00 € 1,200.00 €
Non Comercial creditors
CURRENT LIABILITIES 1,050.00 € 1,050.00 € 1,200.00 €
Long Term Debt
TOTAL LIABILITIES 1,050.00 € 1,050.00 € 1,200.00 €
OWNER`S EQUITY
Eren Kongu 45,050.00 € 45,050.00 € 45,050.00 €
Rafa Gonzalez 14,450.00 € 14,450.00 € 14,450.00 €
Pamela Gutierrez 12,750.00 € 12,750.00 € 12,750.00 €
Daniela Uribe 12,750.00 € 12,750.00 € 12,750.00 €
Retained Earnings 20,063.82 €- 8,570.10 € 48,937.29 €
Profit and Loss
TOTAL EQUITY 64,936.18 € 93,570.10 € 133,937.29 €
TOTAL LIABILITIES 65,986.18 € 94,620.10 € 135,137.29 €
Break-Even Point
BREAK-EVEN ANALYSIS 2015 2016 2017
GENERAL
Average Selling price per unit 2.16 € 2.27 € 2.38 €
Average cost of each unit 0.32 € 0.33 € 0.34 €
Gross profit margin 0,85 0,86 0,86
Fixed Costs 144,577 € 148,750 € 154,005 €
Euro sales to break even 169,692 € 173,939 € 179,505 €
Number of Units Sales to break even 78,484 76,617 75,304
Break-Even Point
0
50000
100000
150000
200000
250000
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
UNIT SALES (€)
Payback
39,670.26 €
NPV
20.98%
IRR
Conclusions
• The Simit Shop is economically viable.
• The Simit Shop has a great growth potential.
• The city of Madrid is open to our products
and taste.
¿

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Business Plan Presentation - Simit Shop

  • 1. Pamela Gutiérrez Daniela Uribe Eren Kongu Rafael González
  • 3. Product • What is a Simit? • How do you prepare it?
  • 4. SWOT Analysis STRENGHTS Novelty Product Easy to produce Freshness. Prices Culturally flexible. WEAKNESSES Novelty Image Culture OPPORTUNITIES First mover advantage. Product transformation. Expansion. Franchising. Economic incentives. THREATS Substitute products. Competition. Customer loyalty.
  • 5. Target No gender discrimination Only limited to infants Medium and medium-high class, with medium and medium-high purchasing power
  • 7. Marketing Expenses - € 500.00 € 1,000.00 € 1,500.00 € 2,000.00 € 2,500.00 € 3,000.00 € 3,500.00 € Pop-up Banners Simit Tasting Flyers Total Pop-up Banner SimitTasting Flyers Total 570.00 € 969.12 € 1,324.80 € 2,379.36 €
  • 13. Initial Investment  Equity Investment  Total start up capital expenditure 85,000 € 55,751 €
  • 15. Food Consumption in Spain  100BN € were spent on food consumption in Spain, 2013.  32BN € were spent on “extradomestic” food consumption.  AverageTicket Price – 4.81 € Simit Salty Simit Sweet Simit Coffee 1.5 cl Beer 33cl Soda 33cl Water 33cl 2.00 € 4.00 € 3.00 € 1.20 € 1.50 € 2.00 € 1.00 €
  • 16. Food Consumption by Month - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000
  • 18. Sales Projections – Moderate Scenario - 50,000 100,000 150,000 200,000 250,000 300,000 2015 2016 2017 Units Sales 2015 Units Sold 2015 Sales Revenue 2016 Units Sold 2016 Sales Revenue 2017 Units Sold 2017 Sales Revenue 92,706 200,445 € 106,256 241,230 € 111,569 265,956 €
  • 19. Variable Costs – Simit Prodution Ingredient 100 Units Price 45,935 Units Cost 52,649 Units Cost 55,281 Units Cost Flour gr 7,142 12.50 € 3,280,701 5,741.23 € 3,760,221 6,711.99 € 3,948,232 7,259.02 € Pekmez- Molasses ml 2,142 2.93 € 983,935 1,347.99 € 1,127,750 1,575.92 € 1,184,138 1,704.36 € Sunflower oil ml 28 0.01 € 12,862 4.12 € 14,742 4.81 € 15,479 5.20 € Yeast gr 65 0.27 € 29,858 125.40 € 34,222 146.61 € 35,933 158.56 € Salt ml 7 0.44 € 3,215 200.97 € 3,685 234.95 € 3,870 254.10 € 16.15 € 7,419.70 € 8,674.28 € 9,381.23 € 2015 2016 2017 TOTAL Cost per ingredient Units sold Cost Units sold Cost Units sold Cost 45,935 7,419.70 € 52,649 8,674.28 € 55,281 9,381.23 € 2015 2016 2017
  • 20. Variable Costs – Simit Production 2015 2016 2017 Units sold Cost Units sold Cost Units sold Cost 45,935 7,419.70 € 52,649 8,674.28 € 55,281 9,381.23 € - 10,000 20,000 30,000 40,000 50,000 60,000 2015 2016 2017 Units Cost
  • 21. Variable Costs – Customizations Ingredient Weight Cost 15 gr 30 gr 100 gr Ham (Iberico) 7 kg 130.00 € 0.28 € 0.56 € 1.86 € Chorizo (Iberico) 1 kg 12.40 € 0.19 € 0.37 € 1.24 € Salchichon (Iberico) 1 kg 10.70 € 0.16 € 0.32 € 1.07 € Cheese (Burgos) 1kg 7.56 € 0.11 € 0.23 € 0.76 € Chocolate 550 gr 3.30 € 0.05 € 0.10 € 0.60 € Units sold Cost Units sold Cost Units sold Cost 30,902 19,696.49 € 35,419 23,026.91 € 37,190 24,178.25 € * 3% cost increase in 2017 * 2% cost increase in 2016 2015 2016 2017 Cost per Gram
  • 22. Variable Costs - Customizations - 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 2015 2016 2017 Units Cost
  • 23. Variable Costs - Additionals 0 20000 40000 60000 80000 100000 120000 Vegetables Beverages Napkins & Bags 2015 Units 2015 Costs 2016 Units 2016 Costs 2017 Units 2017 Costs
  • 24. TotalVariable Costs 2015 2016 2017 Simit 7,419.70 € 8,674.28 € 9,381.23 € Customizations 19,696.49 € 23,026.91 € 24,178.25 € Vegetables 462.50 € 540.71 € 584.77 € Beverages 7,256.11 € 8,483.03 € 9,174.39 € Bags and Napkins 1,148.38 € 1,278.63 € 1,451.98 € Total 35,983.19 € 42,003.55 € 44,770.63 € 2015 2016 2017 35,983.19 € 42,003.55 € 44,770.63 €
  • 25. TotalVariable Costs - € 5,000.00 € 10,000.00 € 15,000.00 € 20,000.00 € 25,000.00 € 30,000.00 € 35,000.00 € 40,000.00 € 45,000.00 € 50,000.00 € 2015 2016 2017 Units
  • 27. Income Statement SALES REVENUE 2015 2016 2017 200.445 € 241.230€ 265.956 € COST OF PURCHASE 2015 2016 2017 35.983 € 42.004 € 44.771 € Gross Margin 160.453 € 194.402 € 215.866 € Returns to Vendor 4.009 € 4.825 € 5.319 € Operating Expenses Total Marketing Expenses 4.303 € 2.921 € 3.009 € Total General and Adminstrative Expenses 172.963 € 150.051 € 155.783 € TOTAL OPERATING EXPENSE 177.266 € 152.972 € 158.792 € EBITDA - 16.813 € 41.430 € 57.074 € INTEREST € - € - € - DEPRECIATION 3.251 € 3.251 € 3.251 € EBT - 20.064 € 38.179 € 53.823 € Tax (%25) € - 4.529 € 13.456 € Net Income - 20.064 € 33.650 € 40.367 €
  • 28. Cash Flow Start-Up 2015 2016 2017 Cash In Cash Sales 176.793 € 200.945 € 208.510 € Collections from Accounts Receivables 17.548 € 33.638 € 49.761 € Equity Received 85.000 € 85.000 € Total Cash In 85.000 € 279.340 € 234.583 € 258.271 € Total Cash Available 85.000 € 308.589 € 274.879 € 332.342 € Total Cash Out 55.751 € 239.044 € 205.308 € 216.556 € Yearly (cash in - cash out) 29.249 € 40.296 € 29.275 € 41.715 € Beginning Cash Balance - - 40.296 € 69.571 € Ending Cash Balance 29.249 € 40.296 € 69.571 € 111.286 €
  • 29. Balance Sheet ASSETS 2015 2016 2017 Cash in hands 40,296.02 € 69,570.79 € 111,285.58 € Accounts Receivables 1,702.97 € 2,816.28 € 4,139.93 € Inventory 1,016.81 € 2,513.27 € 3,242.64 € Security Deposits 4,000.00 € 4,000.00 € 4,000.00 € CURRENT ASSETS 47,015.80 € 78,900.34 € 122,668.15 € Office Equipment 22,221.00 € 22,221.00 € 22,221.00 € Accumulated Depreciation 3,250.62 € 6,501.24 € 9,751.86 € NET FIXED ASSETS 18,970.38 € 15,719.76 € 12,469.14 € TOTAL ASSETS 65,986.18 € 94,620.10 € 135,137.29 € LIABILITIES Accounts Payables 1,050.00 € 1,050.00 € 1,200.00 € Non Comercial creditors CURRENT LIABILITIES 1,050.00 € 1,050.00 € 1,200.00 € Long Term Debt TOTAL LIABILITIES 1,050.00 € 1,050.00 € 1,200.00 € OWNER`S EQUITY Eren Kongu 45,050.00 € 45,050.00 € 45,050.00 € Rafa Gonzalez 14,450.00 € 14,450.00 € 14,450.00 € Pamela Gutierrez 12,750.00 € 12,750.00 € 12,750.00 € Daniela Uribe 12,750.00 € 12,750.00 € 12,750.00 € Retained Earnings 20,063.82 €- 8,570.10 € 48,937.29 € Profit and Loss TOTAL EQUITY 64,936.18 € 93,570.10 € 133,937.29 € TOTAL LIABILITIES 65,986.18 € 94,620.10 € 135,137.29 €
  • 30. Break-Even Point BREAK-EVEN ANALYSIS 2015 2016 2017 GENERAL Average Selling price per unit 2.16 € 2.27 € 2.38 € Average cost of each unit 0.32 € 0.33 € 0.34 € Gross profit margin 0,85 0,86 0,86 Fixed Costs 144,577 € 148,750 € 154,005 € Euro sales to break even 169,692 € 173,939 € 179,505 € Number of Units Sales to break even 78,484 76,617 75,304
  • 31. Break-Even Point 0 50000 100000 150000 200000 250000 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC UNIT SALES (€)
  • 34. Conclusions • The Simit Shop is economically viable. • The Simit Shop has a great growth potential. • The city of Madrid is open to our products and taste.
  • 35. ¿

Notas do Editor

  1. 1 pop-up banner every two months – 47.50 € monthly 500 monthly simits for free tasting purposes during first six months of the year – 80.76 € monthly - 484.56 € (for six months) 8,000 flyers a month - 110.40 € montly - TOTAL YEAR ONE - 2,379.36 € if simits are provided for only 6 months, and 2,863.92€ if provided yearly. If an estimated 172k people walk by the selected area for one month, 32% are willing to spend (55k), 9% is our target market share (4.8k). If 25% are repeat customers (1.2k), it means that 3.6k are customers. If 40% of those customers are neighbors (1.5k), and we subtract them from the total repeating customers, we would end up with 2.1k individual customers per month. First six months: 0.11€ per person with flyer and simit tasted. Second six months: 0.07€ per person with flyer and simit tasted.
  2. ID Task Name Begin End 1 Flyer Handing from Jan-15 to Dec-15     2 Pop-up Banners 1 from Jan-15 to Feb-15     3 Pop-up Banners 2 from Mar-15 to Apr-15     4 Pop-up Banners 3 from May-15 to Jun-15     5 Online Marketing from Jan-15 to Dec-15     6 Simit Tasting from Jan-15 to Jun-15     7 Pop-up Banners 4 from Jul-15 to Aug-15     8 Pop-up Banners 5 from Sep-15 to Oct-15     9 Pop-up Banners 6 from Nov-15 to Dec-15              
  3. Moderate 5% yearly increase in units sold Pessimistic 4% yearly increase in units sold 5% of initial sales reduced in 2015 (in comparisson to moderate scenario) Optimistic 6% yearly increase 5% of initial sales increased in 2015 (in comparisson to moderate scenario)
  4. We are not a traditional bakery, a pizza place or a fast food restaurant. Focus on total food consumption in Spain reports (Ministerio de Agri, Alim, Medio Amb). 100 BN spent on food 32 BN spent on extradomestic Average ticket price – 4.81 € Sales Prices – Below industry average.
  5. Monthly food consumption (kilograms) To calculate how much we could sell per month, we used a report from Mercasa, which calculated the amount of kilograms of food consumed in Spain per month. As you can see, January is the month when the most kilograms of food were consumed, so we assumed that January would be our best selling month. Month Kilograms Percentage January 167,775 100% February 141,018 84% March 155,950 93% April 141,458 84% May 138,780 83% June 133,167 79% July 128,145 76% August 117,148 70% September 125,746 75% October 141,401 84% November 142,982 85% December 135,241 81%
  6. That 32% gave us an idea on how much to reduce our market from total passerby´s to potential customers. From that 32%, we aimed to get an average 9% of total sales (from around the area and competing businesses). But to trully undestand how much people we were talking about, we did headcounts during different hours, both on weekdays and weekends. From that point on, having a real number of people to work with, and using the average ticket price (only during peak hours), and combining it with the monthly consumption data from the report, we calculated the total amount of sales revenue we could obtain monthly.
  7. Using the method previously explained, we came up with the following units and revenues per units sold per year. As you can see in the graph, our amount of units sold and sales revenue on 2015 is much lower than 2016 and 2017. The reason behind that is that during our initial three months of operations, we estimate that we will only sell 65%, 70%, and 75% of our estimated quantities.