entrepreneurship participating independent. eat bubala aims to provide a low-cost modern take on...

EAT BUBALAENTREPRENEURSHIP PARTICIPATING INDEPENDENT

THE PLAN

Our MissionEat Bubala aims to provide a low-cost modern

take on classic Jewish cuisine, using healthy, farm-to-table ingredients, by capitalizing on

the popular trend of mobile food trucks, allowing us to provide our customers with

memorable and affordable meals conveniently located throughout the Seattle area.

Target Market• Residents in the greater Seattle area• Tourists and visitors to Seattle

• Sweet Price: $2.00-$6.50• Savory Price: $3.00-$7.00• Sides/Sips Price: $0.50-$2.00

Product

Strategic Competitive AdvantageEat Bubala Competitors Advantage

Mobile food truck format

Farm-to-Table ingredients

Jewish Cuisine

Restaurants Food kiosks Other food

trucks/carts

Only Jewish cuisine food truck in the greater Seattle area

Cheap, mobile, fast

Higher quality ingredients

Financial Request• Requesting a $100,000 loan•Paid off over 5 years• 8% interest rate

• Investing $65,000

personal funds

Total Investment of $165,000

Owner EquityBank Loan

WHY ITWILL WORK

Seattle• Ranked by Travel and Leisure as the seventh

best city in the United States for “foodies”

• Population of over 612,000 within the city limits and more than 1,933,400 citizens living within King County

• 45,885 Jews living in Washington state - over 40,000 of these live in the Seattle area. • Seattle has the third largest concentration of Sephardic Jews in the country –

14% of the Jewish population

• After the Seattle City Council approved additional mobile food vending in 2011 the number of trucks has increased to 77 official establishments

Food Trucks• In 2009 the revenue from mobile food trucks

was approximately $1.2 billion•Growth rate of 3.4% annually

• there are an estimated 15,500 individuals who haves successfully created businesses serving food in open-air locations

Kosher• Many Conservative and Orthodox Jews keep

kosher.•Must follow strict preparation and cooking

guidelines.•Cannot eat non-certifiably kosher food•There no other kosher food trucks in Seattle

• Proof of quality ingredients•Attracts non-Jews too

Farm-to-Table• Local ingredients•Supports local farmers and businesses•Know where the food is coming from

• Fresh ingredients•Use of in-season fruits, vegetables, and fish

• Customers can be sure of high-quality food

HOW I KNOW

Personal Experience• Practicing Jew•Food is part of our culture

• Grown up eating and cooking Jewish food•Passion for sharing the food I love

• Non-Jews love it too

THE DETAILS

Proposed Organization• Private Limited Company

(PLC)•Owner fully owns and

operates business and holds all shares•Tax advantages

• Before Operating:•Business License•Mobile Food Unit Permit•Seattle Street Use Permit•Seattle Fire Marshall Permit•Vehicle Registration and

VIN•Liability Insurance

Commissary• Rented for $900 a month•Kitchen equipped prep space•Overnight truck parking

• Kosher

• Only building expense for Eat Bubala

Employees• Owner•Manages all business aspects (management,

marketing, buying ingredients, scheduling etc.)•Works with chefs in the food truck (cooks and drives)

• Chef•Cooks and prepares menu items•Drives truck•Manages cash register

Salaries

Position

Rate Per

Hour

Hours per

month

Monthly Payroll Expense

Annual Payroll Expense

Cumulative Payroll Tax

Rate

Total Salary

Expense

Owner $5,000 $60,000 9% $65,400

Chef #1 $15 176 $2,640 $36,000 9% $39,240

Chef #1 $15 176 $2,640 $36,000 9% $39,240

Totals $132,000 $143,880

On the MenuSweet: “Challah At Me” Dessert Kugel Cheese Blintz Doughnut

Savory: Matzoh Ball Soup Latkes Beef Brisket Bagel w/Lox Gefilte Fish

Sides: Horseradish “Say Challah” Matzoh Roca Rugelach

Sips Coffee/tea/hot chocolate Bottled water, juice, soda

$6.50$5.00$3.50$2.00

$3.00/5.00$4.00$7.00$5.50$5.00

$0.50$0.75$0.75$1.50

$1.50$2.00

Pricing Policies• Cost-based/Competitive Pricing• low costs of operation/ production• value to customer

• Premium Pricing•Kosher food•Farm-to-table ingredients

Personal Promotion• Social media accounts• Website• Advertising on relevant websites• Total of $750 spent on personal promotion

in 2013

Social Media• Most important form of marketing• Interact with customers and potential customer

• No cost• Facebook, Instagram, and Twitter account• Modern, trendy, reaches out to younger

demographic

Non-Personal Promotion• Design and logo on truck• Personalized merchandise•For sale and for free distribution

• Total budget of $5,500

Place• Location will change

multiple times a day• Shopping centers• Office buildings• Colleges and universities• Food truck pavillions

• Focus on downtown Seattle

• Seasonal/special events • Farmers markets• Art walks• Street fairs• Festivals•Music Events

• Available to be booked•Weddings• Bar/Bat Mitzvahs• Holiday celebrations

Time Monday Tuesday Wednesday Thursday Friday Saturday Sunday

11:00-12:00 (AM)

Downtown Seattle

Ballard

Downtown Seattle

Ballard

Downtown Seattle

University District Farmers Market

West Seattle

Farmers Market

12:00-1:00 (PM) Microsoft Microsoft1:00-2:00

2:00-3:00 Capitol Hill

Prep3:00-4:00 Prep

Fremont

Columbia City Farmers Market

Fremont Shabbat Party4:00-

5:00

Passover Break Fast Celebration

Bat Mitzvah Wedding5:00-6:00

Pacific Place

Temple B’nai Torah

Pacific Place6:00-

7:00

Sample Schedule

FINANCIAL STATEMENTS

Income Statement

2013 2014 2015

Total Gross Profit $227,670 $286,864 $372,923

Total Operating Expenses

$207,797 $237,190 $277,732

Net Income $15,898 $39,740 $76,1535% 10% 15%

2013 2014 2015$0

$250,000

$500,000

$750,000

-20%

0%

20%

40%

$309,030 $389,378

$506,191

Sale

s

Pro

fit

Profitable by 2013

Cash Flow

Dec. 2013 2014 2015

Available Cash Balance $76,476 $414,802 $558,004

Total Cash Outflows $51,052 $362,989 $443,389

Ending Cash Balance $25,424 $51,813 $114,615

Steadily Increasing Cash

Jan M

arM

ayJulSepN

ovJanM

arM

ayJulSepN

ovJanM

arM

ayJulSepN

ov

$0

$50,000

$100,000

$150,000

$200,000

2013 - 2015

SUMMARY

In Conclusion• Jewish food• Seattle • Seattle residents and visitors• Food truck• PLC • Three employees• Many locations/events• Kosher, farm-to-table• Profit in the first year• Social Media

Request: $100,000 loan paid off over 5 years with an 8%

interest rate

Mission Statement: Eat Bubala aims to provide a low-cost

modern take on classic Jewish cuisine, using healthy, farm-to-

table ingredients, by capitalizing on the popular trend of mobile

food trucks, allowing us to provide our customers with

memorable and affordable meals conveniently located throughout

the Seattle area.

QUESTIONS