Download - Spice Bar Presentation
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– Anne Marie Miller – Todd Conway – Scott Gavin – Mollie Toole – Mark Fisher
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Mission Statement
“Spice Bar strives to provide uncompromised wellness, happiness and health for each individual customer, by using the highest quality ingredients and offering excellent customer service within a chic ambient atmosphere that exudes vitality and luxury.”
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Fast Facts
Each day Americans spend an average of $109 million on dieting and diet related products
Restaurant sales grossed more than $500 billion in 2007
Spice Bar has the opportunity to capture some of the revenue in both the diet and restaurant industries through its unique market offering
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Spice Bar Idea, Brand & Location
Spice Bar is a chic restaurant that caters to the needs of its upscale clientele by offering health-conscious menu items that taste great but still satisfy
The Spice Bar brand is young, energetic, health-conscious and trendy
Location 1: 313 Spring Street, NY, NY 10013
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Team/Management
Anne Marie Miller: Manage Legal Matters, works closely with Daniel Miller, Esq.
Scott Gavin: Financial Manager Mollie Toole: Kitchen Manager Mark Fisher: Operations Manager Todd Conway: Advertising/Sales Manager Executive Chef: Ronald Reda, previous work
experience includes 5 years as the Kitchen Supervisor in the White House during the Clinton Administration
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SWOT Analysis
Strengths: innovative approach to the health-food industry, understands its upscale target market well
Weakness: extremely high failure rate Opportunities: restaurant and diet industries
gross billions per year, Spice Bar can capture some of this revenue with creative and energetic marketing
Threats: SoHo is filled with well-known, established restaurants
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Target Market
Primary: Women between 20-35 yrs old, live in SoHo, upper to upper middle class, care about physical appearance and health, enjoys life and the social scene
Secondary: Women between 20-35 yrs old, live in NYC, upper to middle class, exercise regularly
Tertiary: Women, live in Tri-state, 18+ years old, will splurge for special occasions
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Market Strategy- Pricing
Appetizers: $12-$25 Entrees: $25-$45 Dessert: $8-$15 Cocktails/Shakes: $6-$15 Prices determined by:
cost of ingredients Spice Bar’s intended brand image Executive Chef’s estimation of the customer’s value-
perception minimum 65% mark-up on fair market value price
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Market Strategy- Promotion
Restaurant Opening- sponsored by Viridian Spirits, LLC
Host Charity Events Promote Chef Ronald Reda Live Music DJ Serge Devant Press
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Market Strategy- Place
Phase 1: 313 Spring Street, NY, NY 10013 Phase 2: one location in the Upper East Side
of Manhattan, one location in the Williamsburg area of Brooklyn
Phase 3: expand nationally and internationally in major cities such as Paris, London, Miami and Las Vegas
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Market Offering
Executive Chef Ronald Reda is currently developing the menu items to reflect Spice Bar’s mission and goals.
Menu items will be similar to the following:
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Menu Item Samples-Appetizer
Garden Lasagna
Fruit Sushi
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Menu Item Samples-Salad
Compressed Summer Berry Salad
Tropical Salad with Raspberry Poppy Seed Dressing
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Menu Item Samples- Entree
Beetroot Ravioli
Carrot and Parsnip Fettucine
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Menu Item Samples- Dessert
Cacao Pistachio Florentine & Mint Ice Cream Sandwich
Maine Blueberry Flan
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Menu Item Samples- Shakes
Wild Blueberry and Hemp Shake
Grapefruit Mint Spritzer
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Menu Item Samples- Cocktails
Mojo-jito
Pomegranate Infused Vodka Spritzer
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Menu Item Samples- Beer & Wine
Organic Mulled Wine
African Ginger Beer
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Website Prototype
Websites are an extremely important marketing tool for any new business
Spice Bar has teamed up with 7 Strategy, a top website development company, to create its website
The following prototype has been estimated by a 7 Strategy web developer to cost approximately $20,000-$25,000 to create
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Website Prototype Screen 1
[ENTER]
Screen 1 shows the Spice Bar door
When the mouse scrolls over the door the word “Enter” appears
When the word “Enter” is clicked, it brings the web visitor to Screen 2
[ENTER]
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Website Prototype- Screen 2 Screen 2 shows the interior
of Spice Bar When the mouse scrolls
over a table, the word [ABOUT] will pop up
When the mouse scrolls over the reception table the word [RESERVATIONS] will pop up
When the mouse scrolls over a waiter the word [MENU] will pop up
When the mouse scrolls over a patron the word [HOURS & DIRECTIONS] will pop up
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Website Prototype- Screen 3
Screen 3 will include a Jobs link (Screen 3a), Press link (Screen 3b), and Bios link (Screen 3c)
Screen 3(a): Jobs Please contact Mollie Toole to schedule an interview
or inquire about job opportunities at ________ Screen 3(b): Press
Will include all press and PR for Spice Bar Screen 3(c): Bios
Will include Bios for all Founders of Spice Bar
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Website Prototype- Screen 4
SCREEN 4: RESERVATIONS Reservations can be booked up to 30 days in
advance. For reservations at Spice Bar, please call 212-123-4567. Spice Bar VIP rooms are available to host group events to accommodate up to 50 guests. To book the entire restaurant please contact _______ at 212-234-5678.
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Website Prototype- Screen 5
Screen 5: MENU Will show menu items and prices
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Website Prototype- Screen 6
Screen 6: HOURS & DIRECTIONS Hours:
Spice Bar is open from 10am to 12am on Sunday through Thursday and 10am to 1am Fridays and Saturday
Directions: 313 Spring Street, New York, NY 10013 Shows a picture of the restaurant (represented
as a star) on a map of SoHo
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Milestones
Milestone 1: Get funding from an Angel Investor for start-up costs
Milestone 2: Within 8 months of opening- break-even bring in enough revenue to cover costs, no profits yet
Milestone 3: Within 2 years of opening- profitable. bring in enough revenue to cover expenses as well as
pay off debts Milestone 4: By 2012- save enough capital to invest
in opening 2 additional restaurants (Phase 2 of expansion). Spice Bar LLC will create a new business plan for each
individual location (Upper East Side and Williamsburg) and set appropriate milestones for the establishments
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Focus Group: Survey SURVEY Circle one for each (Optional): Annual Income: $500K+ $250K+ $100K+ $75K+
$50K+ $25K+ less than $25K Gender: Male Female Ethnicity: Asian Caucasian African-American Hispanic Other What is the most important thing you consider when choosing a restaurant to eat in? Rank the following items in order of importance (1 being most
important, 5 being least important). ____Cost ____Chef ____Entertainment (live music, etc.) ___ Food Type (Italian, French, Organic, etc.) ___ Food Quality ___ Food Quantity (portion size) ___Special needs (Vegan, Kosher, etc.) How often do you exercise? (Circle one) Everyday 3 or more times/week 1/week 1/month
Never Rank the following items, 1 being the most important to you and 5 being the least. ___ Family ____ Career ____ Health ____Money ____Friends How much would you be willing to pay for a great tasting meal that you knew was healthy and low in calories? (Circle the maximum amount you are
willing to pay) $10 $20 $30 $50
$100 $350 How much would you be willing to pay for a high-end meal (not including alcohol)? (Circle the maximum amount you are willing to pay) $10 $20 $30 $50
$100 $350 Would you find it helpful if menus gave nutritional information like calorie content? (Circle one) Yes No Which 2 calorie-based portion options would you want to see at a restaurant (circle one from each row): Row A: 300 350 400 450 500 (in calories) Row B: 500 550 600 650 700 (in calories)
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Market Research: Survey Results
After surveying more than 100 people selected at random, the following answers came up the majority of the time
1. Annual Income: $75K+ 2. Ranking Importance: Food Type, Food Quality,
Cost, Food Quantity, Entertainment 3. Exercise Frequency: 1/week 4. Ranking Importance: Health, Money, Family,
Friends, Career Cost Max: $50 Calorie Count: Yes Portion Size: 300 and 550
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Discussion: Q & A
Please feel free to ask any questions