AJI CEVICHE BUSINESS PLAN William Beresford Founder and CEO
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY Aji Ceviche (Aji) is a Peruvian inspired grab and go restaurant, focusing on the healthiest aspects of Peruvian cuisine, with ceviche being its flagship food. Peruvian food is new, exciting and becoming increasingly popular in London with a number of Peruvian restaurants recently opening up in the capital; Ceviche, Andina, Chotto Matte, Lima and Coya. These are all high end, with a formal, sit down style. There is a gap in the market to create a grab-and-go style Peruvian restaurant that is accessible and affordable. Sushi in the mid 1990’s is a good example of how a new food became popular in London and gradually became more accessible. Aji launched in April 2014 as a street food business trading regularly at Whitecross Street Market, Street Feast in both Dalston and Battersea among various other food markets across The City and West End of London. Having tested the concept, identified its customer base and refined its menu, Aji is now opening its inaugral fixed location in London and is looking for a £200,000 investment in order to achieve this. This location is expected to generate revenues of £51,975 per month and be profit-making by the end of year one. In year two the site is expected to generate a net profit of over £185k. Once successful, this first store will pave the way for expansion to open further locations in other parts of London and the United Kingdom. The purpose of this business plan is to outline the vision for Aji, the route to market and to demonstrate how it will generate profit for its investors.
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CONTENTS
CONTENTS The market __________________________________________________________ 1! SWOT Analysis ................................................................................................................... 1! Target market ...................................................................................................................... 2!
Journey so far ________________________________________________________ 3! Proving the concept ............................................................................................................ 3!
Menu and pricing _____________________________________________________ 6! Pricing ................................................................................................................................. 6!
Site location _________________________________________________________ 8! Store Design ....................................................................................................................... 9!
Startup Costs _______________________________________________________ 10! Promotion __________________________________________________________ 11! The Brand ......................................................................................................................... 11! Brand identity .................................................................................................................... 11! Conveying the brand message ......................................................................................... 11! Marketing .......................................................................................................................... 12!
Competition _________________________________________________________ 13! The Team __________________________________________________________ 14! Will Beresford, Founder .................................................................................................... 14! Santiago Munoz Aguilar, Chef .......................................................................................... 14!
Finances ___________________________________________________________ 15! Sales forecasts Year 1: ..................................................................................................... 15! Sales forecasts Year 2: ..................................................................................................... 15! Outgoings Year 1 .............................................................................................................. 16! Outgoings Year 2 .............................................................................................................. 17! Income statement (£): Years 1-2 ...................................................................................... 18! Cash flow statement (£): Years 1-2 .................................................................................. 19!
Appendix ___________________________________________________________ 20! Appendix 1 – Proposed Menu ........................................................................................... 20!
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THE MARKET
T HE MARKET Given its quick, grab and go style service and an average meal value of £7.50, it is clear that Aji operates in the quick-service predominantly lunchtime market. The UK restaurant industry is valued at £40bn (Yahoo Finance), with over 50% of meals eaten out being consumed in quic- service restaurants (NPD Group). Lunch has driven expansion in the quick-service market, accounting for 72% of the sector's growth (www.thecaterer.com). This is where the majority of Aji’s sales are likely to fall during the lunchtime rush.
SWOT Analysis Strengths •
An innovative new concept for a cuisine that is rapidly growing in popularity. Senor Ceviche and Pachamama are the latest high-end Peruvian restaurants to open in the West End.
•
Healthy eating is at the forefront. Peruvian super foods characterise our brand.
•
A menu that offers products more exciting than salads or sushi.
•
Peruvian cuisine is still at an early-stage, the high street is not yet saturated by it.
•
Compared to formal sit-down restaurants we have low start-up costs and a low wage bill.
Weaknesses •
Peruvian cuisine is not yet mainstream, we have a lot of educating to do.
•
Being a small business, Aji will have higher food, drink & packaging costs, at least initially.
•
Securing the most desirable site locations could be our greatest challenge.
Opportunities •
Once the first location proves a success, the formula is scalable.
•
Operating from smaller A1 sites keeps rents lower and will make expansion less challenging as they are easier to secure than A3 sites.
•
Japanese food is a great example of a new cuisine that started off in London as expensive and inaccessible to the majority of consumers, with restaurants such as Nobu and Zuma. Today sushi can be bought on almost every high street at affordable prices – is there potential for ceviche to gain in popularity like sushi?
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THE MARKET Threats •
The quick service market is saturated with brands in highly sought after locations. Consumers have grown loyal to these brands, hence the rapid growth of grab-andgo chains such as Wasabi.
•
When Peruvian food becomes more common, there are limited barriers to entry for a large chain to enter this market, offering their own selection of ceviche. Developing a recognisable brand and rewarding loyalty will be important to mitigate this risk.
Target market Trading at a host of street food markets, festivals and pop-ups over the past 6 months has demonstrated the type of customers who are likely to be early adopters of Aji Ceviche. These include: •
Foodies – Those more inclined to try a new cuisine or product.
•
Natives of Latin America or those that have travelled there – These consumers are likely to be familiar with ceviche. It is one of the most popular dishes across Latin America.
•
Women – This applies specifically to ceviche. From market trading (where we offered just ceviche), we found that 70% of our consumers were female. Men were more inclined towards hot food options. This impacted our decision to develop a hot food menu alongside the ceviche options.
•
Health conscious consumers – A move to healthier lunchtime options has occurred as consumers become increasingly health conscious and aware.
•
Higher than average lunchtime spenders – Aji is not targeted at the more price elastic customers who currently lunch at supermarkets and who are unlikely to be attracted at the £7.50 meal price point. Aji is targeting instead those in search of a healthy and/or high quality lunch on the move. Through the market stalls Aji has operated, it is clear that consumers are willing to pay extra for high-quality produce.
•
Sushi fans – given that ceviche is raw fish, one can see the similarities with sushi. Sushi lovers will be part of our target audience through our marketing activities.
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JOURNEY SO FAR
J OURNEY SO FAR Aji launched in April 2014 as a street food business trading regularly at Whitecross Street Market, Clerkenwell and at Street Feast in both Dalston and Battersea among various other food markets across The City and West End of London. This has served to test the concept - a quick-service ceviche restaurant in London. Selling in the markets has confirmed that there is a demand for the cuisine and has enabled Aji to gain a clear understanding of its customer base.
Proving the concept Launching as a street food business has been valuable for a number of reasons: •
Proof of concept – a quick service ceviche restaurant is a new idea to London, but street food has confirmed that there is a demand for it.
•
Helped to clearly establish which demographic the product appeals to most. Has shown also which sort of person is attracted to the menu and the best way to market to these consumers.
•
Has shown which products from the range are the most popular.
•
Our street food stint has created an interesting chapter in our story. It shows we are an innovative start-up which started at ground level.
•
Lifted us off the ground – although it has only been for a few months, we are trading, Aji Ceviche is a recognised brand with a following on social media and there is demand for our products. The business is no longer just an idea.
Duke of York
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JOURNEY SO FAR
Battersea Power Station (above and right)
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JOURNEY SO FAR
Street Feast, Dalston Yard
Aji's ‘beach bar’ at Whitecross Street Market, Clerkenwell
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MENU AND PRICING
M ENU AND PRICING The menu is based around different types of Ceviche. There are a number of other products on our menu, including hot food, salads and snacks but ceviche is key to the brand. Ceviche is raw fish or vegetables “cooked” without heat in a marinade of chilli and citrus juice, known as leche de tigre or tiger’s milk. Although it is now a popular international dish, ceviche originates from costal parts of northern Peru. A number of South American countries have their own unique method of preparing ceviche. At Aji we chose to use a typically Peruvian technique when preparing our ceviche; the use of tigers milk gives it an authentic Peruvian identity. Each of Aji’s boxes of ceviche sold includes: •
A choice of fish: sea bass, salmon, tuna, prawn and vegan ceviche options. There will be mixed fish selections too.
•
A bottle of tiger’s milk. We plan to offer different varieties to choose from.
•
A selection of side orders: Peruvian favourites such as sweet potato, quinoa, red onion, choclo corn (a popular giant Peruvian corn) and avocado depending on the specific ceviche ordered.
•
Optional condiments of extra chilli and salt are also available (in the same way as sushi sets would include soy sauce, wasabi and ginger. The salt and extra chilli - aji limo, a hot red chilli – are traditionally served with ceviche in Peru.
Giving consumers the ability to pour on their own tigers milk, add extra chilli and salt, gives them a sense of control over their meal, as well as a fun factor in building their own ceviche.
Pricing Consumers will be able to choose from three different sized portions: Small (bebe ceviche) – priced under £5, these have been designed so that customers are likely to purchase 2 small portions for one meal, or a small ceviche along with hot food, or a salad. Medium (clasico) – At £5.95-7.29, the majority of our ceviche range will fall into this category. These meals have been designed to satisfy the appetite of the majority of our lunchtime customers. Large (grande) – Priced at between £7.29 and 8.49. This is designed for customers who demand larger servings. Hot food will be preserved in a bain-marie and served by staff. Grilled marinated meats (£4.99-5.99), known as anticuchos in Peru will be accompanied by rice and choclo corn. Quinoa stews (£4.49-£5.49) and Andean soups (£3-£3.49) will be available also along
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MENU AND PRICING with salads, snacks and super food smoothies (using Peruvian super foods, maca, lucuma, quinoa, goldenberries, spirulina etc) – all will fall under the brand incorporating Peruvian ingredients. We estimate that the average cover for a customer for a meal is £7.50. Below are a few examples of the most popular meal combinations.
•
•
2 x small ceviche = £6.98-£9.98
•
1 x small ceviche + 1 x soup or 1 x salad = £6.49-£8.48
•
1 x small ceviche + 1 hot food (meat) = £8.48- £10.98
•
1 x medium ceviche = £5.95-7.29
•
1 x medium ceviche + 1 x soup or 1 x salad = £8.95-£10.44
•
1 x medium ceviche + 1 x nibble/snack = £7.44-£9.44
•
1 x large ceviche = £7.29-£8.49
•
1 x large ceviche + 1 x snack = £8.78-£10.98 None of these meals include soft drinks priced between £0.95-£1.50
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SITE LOCATION
S ITE LOCATION Our grab-and-go concept is what sets us apart from any other Peruvian restaurant in London. The menu is built around trading in A1 retail units, where the food is simple to operate and quick to be served. This will allow us to be more flexible when locating sites. Our aim is to launch from a first site between 500 and 1000 square ft. The plan is to take on a short or expiring lease so that we are flexible financially should the situation change. With an average cover of £7.50 for lunch or dinner, we know that a high turnover of customers is vital to the survival of our business. We are therefore looking at the following locations for our first store: •
Soho – London’s hub for new concepts. Healthy, mixed demographic, but arguably not enough large office blocks which we require.
•
Fitzrovia – Many women, from media/PR/advertising however passing trade is not as high as in The City or Canary Wharf.
•
Mayfair – Consumers predominantly from finance, property and fashion who are more familiar with ceviche than most.
•
Marylebone – We only deem Warren Street/Regents Place area of Marylebone busy enough at lunch for a business of our nature.
•
Canary Wharf – Predominantly male and numerous office blocks. We know men are less inclined to try ceviche than women from our experience in street food.
•
The City – Predominantly male, but similarly to Canary Wharf as it is dominated by office workers. Many new grab and go start-ups launch from St Pauls/Fleet Street as well as Bishopsgate/Broadgate locations.
Given our daily sales targets, The City or Canary Wharf are our preferred destinations because of the slightly lower rents offered and the high footfall of our target demographic customers at lunch time. We believe that the specific location on a particular street is more important than the area itself.
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SITE LOCATION
Store Design The following design is based on an A1 site, approximately 500-1000 sq ft.
BAIN MARIE SERVICE – SOUPS
STAFF SERVICE AREA
RICE COOKERS & MICROWAVES
ITEMS THAT REQUIRE REFRIGERATION, SUCH AS, CEVICHE, SALADS, CAUSAS & DRINKS WILL BE ON DISPLAY ON THE SHELVES OF OUR MULTI DECK FRIDGES.
AJI CEVICHE – BUSINESS PLAN
ITEMS THAT CANNOT FIT ONTO OUR FRIDGE DISPLAY WILL BE STORED IN ONE OF OUR TWO COMMERCIAL FRIDGES AT THE BACK OF THE RESTAURANT. THE OTHER COMMERCIAL FRIDGE WILL STORE HOT FOOD BEFORE IT HAS BEEN HEATED UP. WE ONLY EXPECT 10% OR LESS OF OUR CUSTOMERS TO CONSUME ITEMS ON OUR PREMISES, HOWEVER IT IS IMPORTANT TO HAVE A FEW TABLES AND CHAIRS TO CREATE ATMOSPHERE. THE TWO STARS AT THE TILL AREA REPRESENT WHERE TWO MEMBERS OF STAFF WILL STAND DURING SERVICE. 2 MORE MEMBERS OF STAFF WILL SERVE AT THE HOT FOOD DISPLAY, WHILE THE FINAL MEMBER OF STAFF WILL BE RESPONSIBLE FOR STOCK CONTROL ON THE RESTAURANT FLOOR.
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STARTUP COSTS
S TARTUP C OSTS The following Startup Costs are required in order to get the location up and running. A breakdown of future running income and costs can be found in the Finances section of this business plan.
Startup cost
Cost (£)
2 x Double door commercial fridges
2000
2 x Refrigerated multi deck fridges with 4 shelves each
4000
2 x Electric bain marries
1000
2 x Microwaves
1000
2 x Rice cookers
300
2 x Soup kettles
150
Industrial dishwasher
850
2 x Sinks
500
2 x Tills & software In store branding, signage, doors & artwork Industrial tables/workstations/cutlery Installation/fit out costs – including plumbing & lighting Music/speakers Legal/stamp fees Tables & chairs
TOTAL
AJI CEVICHE – BUSINESS PLAN
4000 15000 3000 40000 1500 15000 1500
£89800
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PROMOTION
P ROMOTION The Brand The name Aji Ceviche has been created to make it clear to consumers that we are a ceviche restaurant. Anyone already familiar with ceviche, Peru, South America or Spanish is likely to understand the meaning and relevance of the word Aji. It means chilli pepper in Spanish and different variations of aji are native to Peru. It is arguably the most prominent ingredient in Peruvian cuisine. Eventually, we would like to drop the word ceviche and be known as Aji, but this will happen only once we feel enough people are familiar with the brand. Visually, Aji’s logo looks clear, stands out and is easy to remember with a chilli pepper replacing the dot at the top of the “i”. The logo’s colour scheme is representative of Peruvian chicha artwork – which is bright and eye-catching.
Brand identity •
Peruvian Grab & GO
•
Healthy option for health conscious foodies
•
Unique, innovative food, pushing
•
Tastier & more exciting that a sandwich
•
Authentic South American cuisine
•
Accessible – reasonable prices, no bookings required
•
WE ARE PERUVIAN – WE’RE FUN, FRIENDLY AND ENERGETIC!
Popular Peruvian chicha street art
Conveying the brand message We will convey this brand identity through engaging customers in a number of different ways. •
Food & drink– it’s authentic, low cost and has health benefits.
•
Peruvian chicha art – distinct, eye catching luminous colours and bubble fonts. These will feature on our logo, in-store posters and product packaging, to create a recognisable brand. Peruvian Inca corn
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PROMOTION •
Authentic Peruvian ingredients: Andean corn, tigers milk, quinoa amongst others will have an influential role throughout our menu.
•
Peruvian Inca textiles will be used to decorate our store.
•
Peruvian soul music – vibrant and positive Latin American music will feature in our store. We want consumers to become familiar with our catchy sounds whenever they walk into Aji Ceviche. This Andean textiles strategy has been executed successfully by other brands, including a Portuguese brand specialising in chicken which engaging their customers in music from Portugal.
Marketing After starting out in street food and working in a Soho based Peruvian restaurant, we know our greatest challenge is persuading consumers to sample our products. Peruvian food is still foreign to many people, even amongst those in the bubble that is The West End & The City. Feedback has proven that consumers find our food delicious, unique in taste and are drawn to the healthy aspect. The idea of a brand new lunchtime option was seen as a refreshing change. With no one else currently offering Peruvian cuisine in the grab and go market we have to consider methods in which we can persuade consumers to try something new they have not yet experienced. We will attract new customers and persuade them away from the restaurants that they currently go to for lunch through the following marketing activities: •
Media/PR – Reach out to target market, especially neighbouring offices within a few hundred metres.
•
Advertising – Capture attention of i) health conscious ii) foodies iii) local audience.
•
Social Media – Small following in place already. Vast majority of our market can be contacted in some shape or form through social media.
•
Promotions/Offers/Specials – Consumers are likely to be enticed if they feel they are taking advantage of an offer.
•
Free Samples – This worked effectively during street food and will form a large part of our on-street real-time lunch marketing campaigns. Our busiest trading days resulted from offering free samples as consumers walked past our market stall.
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COMPETITION
C OMPETITION Given both our price point and ceviche being our flagship food, we consider our biggest competitors to be: •
Sushi chains, Wasabi & Itsu are our closest competition. Our hours of operation will be the same. While many others in the lunchtime grab & go market are open earlier and shut by 6pm, we are open later for dinner but not breakfast. Both our price points and style of cold and hot food is similar too.
•
Salad bars Vital Ingredient & Tossed, as well as Pure, Crush & Abokado are competition as they all attract health conscious individuals, and a majority of female consumers and have similar price points.
•
Newer concepts, such as Leon, Coco di Mama, GO Italian Street Food & numerous burrito bars are also competitors. They are continuously winning over customers with their innovative products and shrewd marketing.
Formal Peruvian restaurants are NOT competing for the same consumers as Aji. They are sit down restaurants and charge much higher prices. Sales & marketing are pivotal to our success. Site location is also key. We will face stiff competition from the established chains who have strong relationships in place with property agents built up after years of trading. Aji Ceviche is unique and will stand out from this competition. Our hot & cold menu has its own distinct products that fall under the Peruvian brand.
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THE TEAM
T HE T EAM Will Beresford, Founder Will is responsible for the general day-to-day management of Aji Ceviche, including strategy, branding, accounting and operations. Will began his career as a financial markets’ trader at Hamilton Court Capital focusing on exchange traded derivatives. After spending over 5 years as a trader, Will decided to leave the world of financial services in order to pursue his love of Peruvian food. He spent the latter part of 2013 working with a wellknown Peruvian restaurant in Soho and then began Aji Ceviche.
Santiago Munoz Aguilar, Chef Santiago joined the team full time in May 2013, with over 10 years’ experience in the kitchen. He was responsible for menu planning with Will, as well as all food preparation on a daily basis and stock control. Santiago has now gone back to live in Mexico.
Aji Ceviche has employed a number of university students on a part time basis over the past few months. We chose to employ students with excellent communication skills, able to answer customers’ questions on ceviche, it’s meaning and background. We will look to continue to take on employees as energetic and passionate about the cuisine. Employing Latin Americans also supports the brand image, however we found that in street food the language barrier was a challenge at times, especially as we often had to be persuasive when selling to consumers who were sceptical about trying ceviche for the first time.
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FINANCES
F INANCES The following projections show sales and outgoings forecasts.
Sales forecasts Year 1: REMOVED
Sales forecasts Year 2: REMOVED
Revenue projections are based on the following assumptions: Assumption
Year 1
Year 2
Number of covers
Month 12 = 6300 covers (300 a day),
10% monthly increase until month 18 No increase in number of covers months 18-24
A 10% monthly increase from month 1-12 to reach this number Average spend per cover
AJI CEVICHE – BUSINESS PLAN
£7.50 exc VAT
£7.50 exc VAT
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FINANCES
Outgoings Year 1 Year 1
Month
Month 1
Cost of sales
Month 2
4140
TOTAL COST OF SALES
£
Start Up Costs
89,800
TOTAL START-UP COSTS
89,800
4,140
Month 3
4554 £
4,554
Month 4
5010 £
5,010
Month 5
5511 £
5,511
Month 6
6062 £
6,062
Month 7
6668 £
6,668
Month 8
7335 £
7,335
Month 9
8068 £
8,068
Month 10
8875 £
8,875
Month 11
9762 £
9,762
Month 12
10739 £
10,739
Totals
11813 £
11,813
88535 £
88,535
89,800.00
Administrative expenses Salary cost Rent Rates Prep kitchen Utilities Insurance Bookeeping & accounts Stamp & legal fees & agent fees Transport (man on a bike) Other expenses
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 250 100 1,250 167 1,000
200,004 49,992 20,004 24,000 12,000 3,000 1,200 15,000 2,004 12,000
TOTAL ADMIN COSTS
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
339,204
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
1,000 1,000 500
12,000 12,000 6,000
Marketing costs Online marketing Offline marketing (events, etc) Social media & blog TOTAL MARKETING COSTS
0
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
2,500
30,000.00
TOTAL NON-SALES COSTS
89,800.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
30,767.00
459,004.00
TOTAL COSTS
AJI CEVICHE – BUSINESS PLAN
£
89,800
£
34,907
£
35,321
£
35,777
£
36,278
£
36,829
£
37,435
£
38,102
£
38,835
£
39,642
£
40,529
£
41,506
£
42,580
£
547,539
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FINANCES
Outgoings Year 2 Year 2
Month
Month 13
Cost of sales
Month 14
12994
TOTAL COST OF SALES
£
12,994
Month 15
14293 £
14,293
Month 16
15722 £
15,722
Month 17
17295 £
17,295
Month 18
19024 £
19,024
Month 19
20927 £
20,927
Month 20
20927 £
20,927
Month 21
20927 £
20,927
Month 22
20927 £
20,927
Month 23
20927 £
20,927
Month 24
20927 £
20,927
Totals
20927 £
20,927
225814 £
225,814
Administrative expenses Salary cost Rent Rates Prep kitchen Utilities Bookeeping & accounts Insurance Stamp & legal fees & agent fees Transport (man on a bike) Other expenses
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
16,667 4,166 1,667 2,000 1,000 100 250 1,250 167 1,000
200,004 49,992 20,004 24,000 12,000 1,200 3,000 15,000 2,004 12,000
TOTAL ADMIN COSTS
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
28,267
339,204
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
2,500 2,500 1,000
30,000 30,000 12,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
72,000.00
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
411,204.00
Marketing costs Online marketing Offline marketing (events, etc) Social media & blog TOTAL MARKETING COSTS
0
TOTAL NON-SALES COSTS TOTAL COSTS
AJI CEVICHE – BUSINESS PLAN
£
47,261
£
48,560
£
49,989
£
51,562
£
53,291
£
55,194
£
55,194
£
55,194
£
55,194
£
55,194
£
55,194
£
55,194
£
637,018
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FINANCES
Income statement (ÂŁ): Years 1-2 Year 1 Revenue Cost of sales Gross profit Development costs Administrative costs Marketing costs EBITDA Net financing cost Profit before tax Tax 30% Net Profit
Year 2 Revenue Cost of sales Gross profit Administrative costs Marketing costs EBITDA Net financing cost Profit before tax Tax 30% Net Profit
AJI CEVICHE – BUSINESS PLAN
Start-up ________ 0
Month 1 16,561 4,140 ________
Month 2 18,217 4,554 ________
Month 3 20,039 5,010 ________
Month 4 22,042 5,511 ________
Month 5 24,247 6,062 ________
Month 6 26,671 6,668 ________
Month 7 29,339 7,335 ________
Month 8 32,272 8,068 ________
Month 9 35,500 8,875 ________
Month 10 39,050 9,762 ________
Month 11 42,955 10,739 ________
Month 12 47,250 11,813 ________
12,421
13,663
15,029
16,532
18,185
20,004
22,004
24,204
26,625
29,287
32,216
35,438
265,606
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
28,267 2,500 ________
89,800 339,204 30,000 ________
(18,346)
(17,104)
(15,738)
(14,235)
(12,582)
(10,763)
(8,763)
(6,563)
(4,142)
(1,480)
0 ________ (18,346)
0 ________ (17,104)
0 ________ (15,738)
0 ________ (14,235)
0 ________ (12,582)
0 ________ (10,763)
0 ________ (8,763)
0 ________ (6,563)
0 ________ (4,142)
0 ________ (1,480)
89,800 ________ (89,800) ________ (89,800)
Totals 354,142 88,535 ________
0
0
0
0
1,449
4,671
0 ________ 1,449
0 ________ 4,671
(435)
(1,401)
(193,398) 0 ________ (193,398)
0
0
0
0
0
0
0
(89,800)
(18,346)
(17,104)
(15,738)
(14,235)
(12,582)
(10,763)
(8,763)
(6,563)
(4,142)
(1,480)
Month 13 51,975 12,994 ________ 38,981
Month 14 57,173 14,293 ________ 42,879
Month 15 62,890 15,722 ________ 47,167
Month 16 69,179 17,295 ________ 51,884
Month 17 76,097 19,024 ________ 57,072
Month 18 83,706 20,927 ________ 62,780
Month 19 83,706 20,927 ________ 62,780
Month 20 83,706 20,927 ________ 62,780
Month 21 83,706 20,927 ________ 62,780
Month 22 83,706 20,927 ________ 62,780
Month 23 83,706 20,927 ________ 62,780
Month 24 83,706 20,927 ________ 62,780
Totals 903,256 225,814 ________ 677,442
28,267 6,000 ________ 4,714
28,267 6,000 ________ 8,612
28,267 6,000 ________ 12,900
28,267 6,000 ________ 17,617
28,267 6,000 ________ 22,805
28,267 6,000 ________ 28,513
28,267 6,000 ________ 28,513
28,267 6,000 ________ 28,513
28,267 6,000 ________ 28,513
28,267 6,000 ________ 28,513
28,267 6,000 ________ 28,513
28,267 6,000 ________ 28,513
339,204 72,000 ________ 266,238
0 ________ 4,714
0 ________ 8,612
0 ________ 12,900
0 ________ 17,617
0 ________ 22,805
0 ________ 28,513
0 ________ 28,513
0 ________ 28,513
0 ________ 28,513
0 ________ 28,513
0 ________ 28,513
0 ________ 28,513
0 ________ 266,238
(1,414)
(2,584)
(3,870)
(5,285)
(6,842)
(8,554)
(8,554)
(8,554)
(8,554)
(8,554)
(8,554)
(8,554)
3,300
6,029
9,030
12,332
15,964
19,959
19,959
19,959
19,959
19,959
19,959
19,959
1,014
3,269
0 (195,234)
0 186,367
!Page 18
FINANCES
Cash flow statement (£): Years 1-2 Year 1
Month
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Totals Total 354,142
Pre Start
Sales VAT return - 10% Own money Loans Equity Grant Total Income
16,561
18,217
20,039
22,042
24,247
26,671
29,339
32,272
35,500
39,050
42,955
47,250
0.00 200,000 £
200,000
£
Cost of Sales Non-sales costs Taxation Profit before tax Tax rate Tax charge Total Expenditure
£
Income less Expenditure Opening Bank Balance Closing Bank Balance
£ £
Year 2
Month
Sales VAT return - 10% Own money Loans Grant Total Income
16,561
£
18,217
£
20,039
£
22,042
£
24,247
£
26,671
£
29,339
£
32,272
£
35,500
£
39,050
£
42,955
£
47,250
£
354,142
4,140
4,554
5,010
5,511
6,062
6,668
7,335
8,068
8,875
9,762
10,739
11,813
88,535.41
89,800
30,767
30,767
30,767
30,767
30,767
30,767
30,767
30,767
30,767
30,767
30,767
30,767
459,004.00
110,200 30% 0
18,346 30% 0
17,104 30% 0
15,738 30% 0
14,235 30% 0
12,582 30% 0
10,763 30% 0
8,763 30% 0
6,563 30% 0
4,142 30% 0
1,480 30% 0
1,449 30% 435
4,671 30% 1,401
6,602.22
89,800
£
110,200 -£ £ £110,200
34,907
£
18,346 -£ 110,200 £ £91,854
Month 13
35,321
£
17,104 -£ 91,854 £ £74,749
Month 14
51,975
35,777
£
15,738 -£ 74,749 £ £59,011
Month 15
57,173
36,278
£
14,235 -£ 59,011 £ £44,776
Month 16
62,890
36,829
£
12,582 -£ 44,776 £ £32,194
Month 17
69,179
37,435
£
10,763 -£ 32,194 £ £21,431
Month 18
76,097
38,102
£
8,763 -£ 21,431 £ £12,668
Month 19
83,706
38,835
£
6,563 -£ 12,668 £ £6,105
Month 20
83,706
39,642
£
4,142 -£ 6,105 £ £1,963
Month 21
83,706
40,529
£
1,480 £ 1,963 £ £483
Month 22
83,706
41,940
£
1,014 £ 483 £ £1,497
Month 23
83,706
43,981
1,835.82 £
549,375
3,269 -£ 1,497 £4,766
195,234
Month 24
83,706
Totals
83,706
903,256.37 0.00
£
51,975
£
57,173
£
62,890
£
69,179
£
76,097
£
83,706
£
83,706
£
83,706
£
83,706
£
83,706
£
83,706
£
83,706
£
903,256
Cost of Sales
12,994
14,293
15,722
17,295
19,024
20,927
20,927
20,927
20,927
20,927
20,927
20,927
225,814
Non-sales costs
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
34,267
411,204
4,714 30% 1,414
8,612 30% 2,584
12,900 30% 3,870
17,617 30% 5,285
22,805 30% 6,842
28,513 30% 8,554
28,513 30% 8,554
28,513 30% 8,554
28,513 30% 8,554
28,513 30% 8,554
28,513 30% 8,554
28,513 30% 8,554
266,238
Taxation Profit before tax Tax rate Tax charge Total Expenditure
£
Income less Expenditure Opening Bank Balance Closing Bank Balance
£ £
AJI CEVICHE – BUSINESS PLAN
48,675
£
3,300 £ 4,766 £ £8,066
51,144
£
6,029 £ 8,066 £ £14,095
53,860
£
9,030 £ 14,095 £ £23,125
56,847
£
12,332 £ 23,125 £ £35,457
60,133
£
15,964 £ 35,457 £ £51,421
63,747
£
19,959 £ 51,421 £ £71,380
63,747
£
19,959 £ 71,380 £ £91,339
63,747
£
19,959 £ 91,339 £ £111,298
63,747
£
19,959 £ 111,298 £ £131,257
63,747
£
19,959 £ 131,257 £ £151,215
63,747
£
19,959 £ 151,215 £ £171,174
63,747
79,871.48 £
19,959 £ 171,174 £191,133
716,890 186,367 £191,133
!Page 19
APPENDIX
A PPENDIX Appendix 1 – Proposed Menu Further product options will be added to those below to create the full menu Nibbles & Sides (retail between £1.49-£2.49) (V) •
Cancha/Chilli Cancha: Toasted maize corn snack with salt or chilli salt. Traditional Peruvian bar snack, served with ceviche.
•
Chifle: Fried plantain – served with spicy aji mayonnaise dip.
•
Tostadas: Traditionally a Mexican corn snack. However we offered them to consumers, and the feedback was very positive, especially amongst men, as they found that they made the dish more filling.
•
Sachainchi & Kiwicha (Amaranth): Peruvian super seeds very marketable to the health conscious. Already produced in UK.
•
Fruit: Raisans/goldenberries that are native to Peru. (Andean superfoods)
•
Quinoa/Kiwicha Crisps & Bars: Possibly outsource.
•
Botija Olives: Purple olives, native to southern Peru.
Ensalada (side salads that retail between £3-3.49) •
Two different quinoa based salads. Quinoa is a native Andean super food seed.
•
Classic Peruvian salad with fresh cheese.
Causas (cool mashed potato cakes with a variety of toppings - a Peruvian delicacy that retails between £2.99-£3.99) •
We offer yellow/sweet/coriander infused potato cakes, topped with fish/veg/chilli.
Quinoa Sushi •
Just an idea that we are playing with, but it will be instantly recognisable with a certain wow factor. Sushi rolls with quinoa replacing the rice and tigers milk instead of soy sauce sachets to create a ceviche effect.
Superfood Smoothies/Juices + Drinks (£1-£3.99) •
A selection of bottled Peruvian super food drinks, such as Peru’s national non alcoholic drink, chica morada. Smoothies will include super foods such as maca, cacao, lucuma, camu-camu, along with well known fruit and vegetables. We will also offer standard soft drinks and coffee (using Peruvian beans).
Hot Food Product Range Our hot food will be based around authentic Peruvian meat dishes, stews and soups. Our branding will home in on the health benefits of these products.
AJI CEVICHE – BUSINESS PLAN
!Page 20
APPENDIX Hot food will be prepared in a kitchen, off site and heated up using microwaves and/or a bain marie. Product Range (Soup retails between £3-£3.49, everything else £4.49-£6.49) •
Anticuchos – grilled meat skewers originating from Peruvian street food markets. Marinated in a smokey variety of aji to enhance bbq flavour.
•
Lomo Saltado – Legendary reputation throughout Peru. Beef fillet, marinated in aji chilli before being stir-fried.
•
Aji de Gallina – National chicken curry.
•
Quinotto – Quinoa based stew/hot pots (V).
•
Sopa – Two daily soup options. One will always be vegetarian. There are endless soup recipes in Andean cuisine, enriched with super foods.
* Meat dishes will be served with rice and giant Peruvian corn.
AJI CEVICHE – BUSINESS PLAN
!Page 21