Crusin’ Cuisine Business Plan

Read the business plan for Crusin’ Cuisine, a gourmet food truck providing luxury street food. Includes marketing strategies, financial plan, and more.

Crusin’ Cuisine Business Plan
Student ID: 1009612
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Contents
1.0 Executive Summary..........................................................................................................3
2.0 Business Overview...........................................................................................................4
2.1 Business Name............................................................................................................. 4
2.2 Logo & Slogan.............................................................................................................. 4
2.3 Prime Function & Products...........................................................................................5
2.4 Location........................................................................................................................ 6
2.5 Legal Structure............................................................................................................. 6
2.6 Vision & Mission............................................................................................................7
2.7 Staff Management.........................................................................................................7
3.0 Marketing Plan................................................................................................................. 9
3.1 Marketing Objectives/Goals..........................................................................................9
3.2 Market Research.........................................................................................................10
3.3 SWOT Analysis...........................................................................................................11
3.4 Marketing Strategies...................................................................................................11
4.0 Financial Plan.................................................................................................................13
4.1 Financial Objectives....................................................................................................13
4.2 Start-up Cost...............................................................................................................13
4.3 Source of Finance.......................................................................................................14
4.4 Fixed Costs................................................................................................................. 14
4.5 Variable Costs............................................................................................................ 15
4.6 Break-even Analysis...................................................................................................15
4.7 Cash Flow Forecast....................................................................................................16
4.8 Profit & Loss Statement..............................................................................................18
4.9 Future Prospects.........................................................................................................19
Conclusion........................................................................................................................... 20
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1.0 Executive Summary
For the business organisation to develop and come into existence it is important to have
business plan for the same. It is seen that the managers and the directors of the company
needs to have one of the best business plan so as to make them achieve the objective of
maximising the profitability for the company. This is seen that the plan that is taken into
consideration includes the Crusin Cuisine where the managers of the company has identified
to provide the customers a best in class food on the wheels. In this the vehicle would be
driven by the managers of the company. For delivering the food to the customers the
company would be using the truck so as to deliver the goods to the customers. Here the
vehicle would be driven that would travel around the different parts of the city and would be
providing different kind of Cuisine to the users so as to satisfy their demand and wants. The
company would be providing the customers valuable service at a discounted price which
would help them to achieve the objective of maximising the profits for the company. This is
considered to be one of the trending business that the company is undertaking which helps
the company to achieve the objective of maximising the performance of the company as the
customers are more delighted to use the services that are offered by the roaming truck. Here
in this report various ways and the features of the business plan are given so as to define how
the business would be started. The SWOT analysis of the business plan is given which helps
the company to know the strength and the opportunities that are related to the performance of
the company operations.
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2.0 Business Overview
2.1 Business Name
The name of this business will be Crusin’ Cuisine. The reason being is that this name links to
the main purpose of the business, which is to provide consumers with quality food. This
name can be analyzed by being broken down into to two parts. Crusin’ and Cuisine. Crusin,
by definition is a slang word which means driving around and Cuisine can be resembled with
food therefore consumers can interpret the name and understand that it is a food truck
business. Furthermore, this name is short and simple which makes it easier to remember and
also utilizes the literary technique of alliteration to enhance the sound of the name when
pronounced, therefore making it more appealing
2.2 Logo & Slogan
The logo of Crusin’ Cuisine consists of a food truck, the name, and the slogan. The food
truck outlines the features of the business, showing consumers that the business will be a food
truck. Furthermore, the food truck logo will become the centrepiece of the identity of the
business, therefore it will be featured on all of the packaging, business cards and
advertisements.This logo also utilizes the technique of a light colour scheme in order to make
the logo look more appealing and eye catching to consumers.
The slogan ‘the luxury street food’ was chosen because it relates to the aim of the business
which is to provide consumers with luxury street food.
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2.3 Prime Function & Products
The prime function of Crusin’ Cuisine Gourmet Truck is to provide customers with gourmet
food. Alongside providing customers with quality gourmet food, w aim towards providing
customer with great customer service
At the Crusin’ Cuisine Gourmet Truck we provide gourmet food which include burgers,
hotdogs, side dishes and drinks. The following table is the menu of Crusin’ Cuisine
Menu
Burgers
Price: $13 per burger
Big Beef Burger
Grilled beef patty,
Mozzarella cheese,
lettuce, tomato and BBQ
sauce/tomato sauce/chilli
sauce
Deluxe Bird Burger
Fried chicken patty,
mozzarella cheese,
lettuce, tomato, onion,
BBQ sauce / tomato
sauce /chilli sauce
Veggie burger
Deep fried veggie patty,
mozzarella cheese,
onion, tomato, lettuce,
BBQ sauce/ tomato
sauce/chilli sauce
Smoked Hog Burger
Grilled ground pork patty,
mozzarella cheese,
lettuce, tomato, onion,
BBQ sauce / tomato
Hotdogs
Price: $10 per Hotdog
Chillidog
Frank-furter, onion,
mustard, cheese
Corn dog
Deep fried frank-furter
in cornmeal batter
Lamb Hot dog
Lamb sausage onion,
mozzarella cheese,
tomato, lettuce, BBQ
sauce/ tomato
sauce/chilli sauce
Chicken Hotdog
Chicken sausage
mozzarella cheese,
onion, tomato, lettuce,
BBQ sauce/ tomato
sauce/chilli sauce
Drinks
Price: $3.50 each
Coke
Solo
Sprite
Fanta
Sides
Price: $5 per item
French Fries
Onion Rings (6
pcs)
Chicken chip
Nuggets (6 pcs)
Chilli Fries
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sauce /chilli sauce
2.4 Location
The Business will operate mainly in industrial areas during the day and in Canberra city at
night. The following table will provide information on the operating times at each location
throughout the week:
Day Industrial Areas Canberra City (London
Circuit)
Monday 9:00am - 1:00pm Closed
Tuesday 9:00am - 1:00pm 6:pm - 10:00pm
Wednesday 9:00am - 1:00pm Closed
Thursday 9:00am - 1:00pm 6:pm - 10:00pm
Friday 9:00am - 1:00pm 6:pm - 10:00pm
Saturday Closed 6:pm - 10:00pm
Sunday Closed Closed
2.5 Legal Structure
The legal structure of Crusin Cuisine will be a general partnership of three people which
includes Shahil Kumar (partner 1), Nick Walker (partner 2) & Ryan Williams (partner 3). A
general partnership is relatively inexpensive to establish and, all partners share profits, and
management responsibilities. This structure proves beneficial to the business due to all
responsibilities being divided, which can be very productive management wise.
In a partnership, a partnership i agreement is not compulsory but it is a wise idea to include.
A partnership agreement outlines the distribution of incomes, losses and responsibilities
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between the partners. Moreover, this agreement helps to prevent and settle any
misunderstandings and disputes therefore it will be utilized by the business.
2.6 Vision & Mission
Vision: We strive to provide our customers with the most luxurious street food in Canberra,
at the lowest possible prices.
Mission: the mission of our organisation is to provide customers with great customer service
alongside quality street food, above all else.
2.7 Staff Management
The staffing layout of a food truck is much different in comparison to the staffing of a
restaurant. In a food truck, only a small number of staff working a variety of roles is required
therefore, these staff roles will be undertaken by the partners. The variety of roles which are
included in a food truck is;
- Manager: - The manager of the company would be the person who has identified the
business plan and has the objective of maximising the performance of the company.
Hence this is seen that there are three partners who would be considered to be the
manager of the company which includes in the below table given.
- Cook: The cook is the main person which produces the products that directly appeals
to the customers of the company. It is seen that one of the manager of the company
would be taking the role of the Cook. This can be seen in the table given below.
- Window Attendant: This is also considered as the main person who will be assisting
the customers directly and would be taking the orders from the customers hence
should have the best communication skills. So for the purpose this is seen that the
partner of the company would be considered to be window assistant.
- Driver: The driver is the main person which is required by the company to make the
travel more significantly. This is seen that the three would be use of all the managers
which would be used to in different time so as to achieve the objective of maximising
the performance of the company. Here all the three partners would be used in this
process to achieve the objective.
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- Kitchen Worker: the kitchen worker would be considered as one of the element that is
required so as to perform the obligations more significantly. Hence for this purpose
third partner of the company would be used so as to achieve the obligation.
Since only the partners will be operating the van, these roles will be divided into the three
partners with the partners sharing some of the roles:
Partner Roles/Responsibilities
Shahe Kumar (partner 1) Manager, Driver and Cook
Nick Walker (partner 2) Manager, Driver and Window Attendant
Ryan Williams (partner 3) Manager, Driver and Kitchen Worker
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3.0 Marketing Plan
3.1 Marketing Objectives/Goals
For the purpose of defining the objective of the company the smart objectives has been
identifies that helps the company to achieve the objective of maximising the performance and
the profitability of the company. Hence for this purpose this can be identified that SMART
objectives has been described. This means that the objective includes Specific, measurable,
achievable, relevant, time based objective.
The marketing objectives of Crusin’ Cuisine Gourmet Truck is to:
● Specific: This includes that the business objectives and the goals are defined
specifically. Succeed in achieving the mission of our business, which is to provide
customers with great customer service alongside quality gourmet food, above all else.
Promote awareness of the business by advertising through social media and flyers.
Increase sales & profit.
● Measurable: for the purpose of measuring the performance of the company various
tools are used. Hence for this the company is using the financial statements and has
created various tools which includes the performance increment for the company.
● Achievable: it is seen that the objective that are prepared by the managers of the
company are achievable in a manner that they are able to achieve them more
significantly and efficiently.
● Relevant: The objectives that are made by the company are relevant in a manner that
they produce the best possible outcome for the company so as to help them to achieve
the objective of maximising the performance of the company.
● Time based: It is considered to be one of the best performance booster strategy which
includes implying the objective on time and achieving them within the specified time.
Hence for this the company is able to achieve the objective more satisfactory and on
timely basis.
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3.2 Market Research
The research is used to help make well informed business decisions such as the products,
pricing, the placement of where the business will operate, and promotion ideas
The market research that was conducted was mainly primary research. This consisted of a
focus group amongst the partners, and online surveys on our social media platform. The focus
group helped in gathering crucial information to assist the business to perform well.
The focus group research method helped to provide ideas to assist in enhancing the business
operations and sales. The ideas discussed include target age group, prices, operating hours,
business advertising, location/s of where the business will operate, menu and staffing.
It was discussed that the business will target mainly people working blue collar jobs in
industrial areas and construction site, and also people who are having a night out in the city.
The areas chosen include, Fyshwick, construction sites around Canbobligation of selling the
food products also the company would be requiring to have the road transport license as they
would be traveling through road so as to achieve the objective of maximising the
performance.
Erra and Canberra City
Another idea, which was discussed was staff skills as it is important in building good
customer relationship. Some of the required skills include good conversational skills, and
being customer friendly.
To make people aware of the high quality food and drinks offered by the business. we will
create and distribute flyers and posters as well as advertise on social media.
The survey prove beneficial as it gave us a brief idea on the pricing of food and drinks which
is critical in determining the sales made by the business. The price of food and drinks need to
be reasonable between the $30-10$ mark, in order to suit the budget of the customers. This
will ensure that there are more sales generated.
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3.3 SWOT Analysis
The strengths, weakness, opportunities and threats identified during the market research are
as follows:
Strengths
● Easy accessibility
● Convenient to customers due to the
business going to them
● Convenient payment methods which
includes cash payments and eftpos
machine
● Affordable and reasonable prices
Weakness
● New in the market, therefore not
many people will know about our
business.
● Lack of experience
Opportunity
● Not many food trucks operate near
construction sites and industrial
areas
Threats
● Other restaurants and cafes in the
area.
3.4 Marketing Strategies
Product
An outline of the products that will be sold by the business include, Burgers, Pies, Hotdogs,
Coffee, and Soft drink/water. All of these food items are suitable for lunches and have a high
demand.
Pricing
The market research survey revealed that the ideal price for the food and drinks should be
priced in between $30-$10 this result lead to the decision of $13 being the max price for a
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food item and $10 being the minimum price for a food item. It was also decided that all
drinks and coffee will be put at a price under $10. The factors that was taken into
consideration for the pricing is the amount of money workers will be able to pay, results from
the survey, and the price of competitors
Item Price
Burgers $13
Hotdog $10
Sides $5
Drinks $3.50
Promotional Strategies
The Crusin’ Cuisine Gourmet Truck will use advertising as an aspect of promotion. We will
advertise the business through social media by putting up videos and photos of the food van
and staff and also advertising by distributing flyers. These methods of advertising are
beneficial to us as it is cost effective due to the only cost being paper and printing and it will
also make people aware of our business. As this is seen through the market analysis that the
customers are desiring to take the services of the travel vans which helps them to achieve the
objective of maximising the customers satisfaction. As the company is having the new
approach so as to increase the performance and to achieve the overall organisational goals.
Placement/Distribution Channel
The locations of where our business will operate throughout the day is fyshwick and
construction sites. This is because our target market is workers in industrial areas. During the
night, the business will operate in Canberra city. This is because Canberra city is busy during
night which is beneficial in attracting potential customers. The company would be requiring
to get the license from the food authority so as to perform the obligation of selling the food
products also the company would be requiring to have the road transport license as they
would be traveling through road so as to achieve the objective of maximising the
performance.
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4.0 Financial Plan
4.1 Financial Objectives
The financial objectives of Crusin’ Cuisine include:
● Break even within the first year of operating
● Generate a sufficient amount of income to cover for all activities, i.e wages, and
stock.
● Effectively manage operational activities in order to meet revenue goals
● Improve productivity and efficiency to increase revenue
● Customer satisfaction, to establish a good reputation of the business and attract more
customers
● Pay back all loans taken to establish the business.
4.2 Start-up Cost
Item Stock
Food Truck $30,000
Storage $100
Deep Fryer $200
Stove & Oven $800
Toaster $200
Cookware & Utensils $300
Refrigerator $400
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Coffee Machine $200
Stock (food, drinks, spoons, cups, cutlery) $600
Cash Register $300
Licence & Permits $1000
4.3 Source of Finance
The sources of finance that will be used to fund the food truck include family loan and
investments made by each partner from savings.A family loan of $12000 will be made by
each partner. This loan will be used to purchase the food truck for $30,000 and cover for the
cost of purchasing equipment. Furthermore, each partner will invest $5000 from their savings
to cover for all other costs needed to start up the business such as sto. Funds that are left over
will be used to cover for future costs and expenses.
4.4 Fixed Costs
A fixed cost is cost or an expense which will not alter with an increase or decrease in the
amount of products sold by the food van. Fixed cost is a compulsory expense that has to be
paid by the company. The following table will outline the fixed costs of Crusin’ Cuisine:
Item Amount
Depreciation on truck $2000
Wages of the employees $6000
Depreciation on machine $1000
License fees $1000
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4.5 Variable Costs
A variable cost is a business expense which changes overtime and is dependent on the
production output. The increase and decrease of the variable costs will depend on the volume
of the business production. The following table will outline the variable costs of crusin
cuisine.
Item Amount
Raw material 40% of cost of sales
Accountant fees $1000
Utilities $1200
Telephone $1000
Insurance $1000
Stationary $600
Repairs and maintenance $1200
Income tax 30% on profit
4.6 Break-even Analysis
BREAK-EVEN CALCULATOR
MONTHLY AMOUNT
Average price of each product/service sold $10.00
Average cost of each product/service to make/deliver $4.00
Fixed costs for the month/year $2.00
Percentage of price that is profit $0.60
Total sales needed to break-even $3.33
Number of units sold needed to break-even $0.33
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4.7 Cash Flow Forecast
EXPECTED
CASHFLOW
[YEAR]
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
OPENING
BALANCE $0 $4,940 $8,630 $16,770
$21,86
0 $26,950 $30,990
$34,88
0 $38,120 $46,260
$54,05
0 $62,195
Cash incoming
Sales $12,000
$10,00
0 $13,000 $10,000
$10,00
0 $9,000 $10,000
$10,00
0 $9,000 $12,000
$13,00
0 $10,000
Asset sales $0 $0 $0 $0 $0 $0 $0 $0 $5,000 $1,000 $0 $0
Debtor receipts $0 $0 $2,000 $0 $1,000 $1,500 $800 $800 $600 $700 $750 $300
Other income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total incoming $12,000
$10,00
0 $15,000 $10,000
$11,00
0 $10,500 $10,800
$10,80
0 $14,600 $13,700
$13,75
0 $10,300
Cash outgoing
Purchases
(Stock etc.) $5,000 $5,500 $6,000 $4,000 $5,000 $5,500 $6,000 $6,500 $5,500 $5,000 $4,500 $5,000
Accountant
fees $100 $50 $100 $100 $100 $150 $150 $200 $100 $100 $150 $100
Solicitor fees $300 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $400
Advertising &
marketing $150 $150 $150 $200 $200 $200 $150 $150 $200 $150 $200 $150
Bank fees &
charges $200 $0 $0 $0 $0 $0 $0 $100 $0 $0 $0 $100
Interest paid $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Credit card
fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities
(electricity, gas,
water) $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Telephone $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $5 $5
Lease/loan
payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Rent & rates $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Motor vehicle
expenses $150 $150 $150 $150 $150 $150 $150 $150 $200 $200 $200 $150
Repairs &
maintenance $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Stationery &
printing $100 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $100
Membership &
affiliation fees $50 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Licensing $100 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Insurance $500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $100 $400
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Superannuatio
n $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Income tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $12,000
Wages
(including
PAYG) $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200 $200
More…
Total outgoing $7,060 $6,310 $6,860 $4,910 $5,910 $6,460 $6,910 $7,560 $6,460 $5,910 $5,605 $18,805
Monthly cash
balance $4,940 $3,690 $8,140 $5,090 $5,090 $4,040 $3,890 $3,240 $8,140 $7,790 $8,145 -$8,505
CLOSING
BALANCE $4,940 $8,630 $16,770 $21,860
$26,95
0 $30,990 $34,880
$38,12
0 $46,260 $54,050
$62,19
5 $53,690
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4.8 Profit & Loss Statement
PROFIT & LOSS FORECAST [Year 1] [Year 2] [Year 3]
Sales $1,00,000 $1,20,000 $1,44,000
less cost of goods sold $40,000 $48,000 $65,800
More…
Gross profit/net sales $60,000 $72,000 $78,200
Expenses
Accountant fees $2,000 $2,000 $2,000
Advertising & marketing $3,000 $3,500 $2,500
Bank fees & charges $500 $400 $4,00
Bank interest $0 $0 $0
Credit card fees $0 $0 $0
Utilities (electricity, gas, water) $1,500 $1,800 $2,000
Telephone $100 $100 $125
Lease/loan payments $0 $0 $0
Rent & rates $0 $0 $0
Motor vehicle expenses $2,000 $2,500 $3,000
Repairs & maintenance $1,500 $1,500 $1,700
Stationery & printing $800 $700 $600
Insurance $1,000 $1,000 $1,000
Superannuation $0 $0 $0
Income tax $12,000 $15,000 $15,200
Wages (including PAYG) $6,000 $7,000 $8,000
More…
Total expenses $30,400 $35,500 $40,125
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NET PROFIT $29,600 $36,500 $38,075
4.9 Future Prospects
In the future we aim to;
● Operate at other places i.e, sporting events
● Expand the business through more food trucks
● Fulfill all objective
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Conclusion
Form the above analysis and the business plan this can be understood that the business
organisation is considered to have a future prospects and the current market base of the
company would be increasing in the near future. This has been seen that in the current market
situation the plan that the managers of the company has decided would help them to achieve a
great profit as desired as this is seen that company is getting an overwhelmed response.
Hence the business plan is considered to be best for the company.
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