Eva'sEdiblesA Personal Chef Service Eva Tan Age: 20
Mission Statement • Mission Statement • Eva’s Edibles, a personal chef service, will provide busy professionals with healthy and delicious dinners that are based on their preferences and prepared in their own kitchens. • Opportunity • Columbus has a growing population of professionals who have busy lifestyles, but want healthy—yet affordable—dinner options.
Business Profile Type of Business • Eva’s Edibles is a service business cooking meals for customers in the customers’ own kitchens. • Legal Structure • Eva’s Edibles is a Limited Liability Company (LLC). I chose this status to protect my personal assets and give the company some added tax benefits.
Qualifications I’m qualified to run this business because: I am a Certified Personal Chef, a certification offered by the U.S. Personal Chef Association (USPCA). I ran an event-planning business for four years. I have an associate’s degree in Business Management and was Assistant to the Director of Campus Dining Services at Ohio State University.
Market Analysis Total Population 301,800 Target Market 110,760 Potential Market 27,690
Target Market Segment • Geographics • Greater Columbus, Ohio, area • Psychographics • Desires healthy food, often dual-income households living hectic lives, hard working, would like to spend more time at home without increasing time in the kitchen cooking and cleaning up • Buying Patterns • Eats out often (4 times a week) but would like to reduce the cost of eating out • Demographics • Professional couples and families, with household incomes of over $50,000
Competitive Advantage Eva’s Edibles At-Home Chef Chef d’Jour Factors Price $325/5 dinners $400/5 dinners $500/5 dinners Custom meals, healthy Meals from chef’s plan, not focused on health Meals from chef’s plan, healthy Quality of Product/Service Location Columbus Columbus Columbus Reputation/Brands New to market Known, but not good reputation Well established, good reputation Unique Factors/ Knowledge Certified Personal Chef, event planning Focuses on “kid friendly” meals Certified Personal Chef, knows customers
Marketing Mix Customers in the greater Columbus, OH area Website, USPCA referrals, in-store promotions, providing samples at local events, customer retention program Appeals to busy professional who value free time and healthy, home-cooked meals I will purchase groceries, cook 5 dinners in the customer’s kitchen, store the meals in their freezer, and clean up $325 for 5 full, healthy dinners is competitive, but affordable when compared to eating out or ordering in
Promotional Mix Promotional Expense Monthly Amount Advertising $146 Brochure, cards, postage, Website development Publicity $5 Press releases, postage Personal Selling — Contacting past customers of event-planning, OSU contacts, follow up mail-back cards from brochure Sales Promotion — Purchasers of three 5-dinner meal plans receive free snacks and desserts — Other Customers referring other customers receive 10% for 3 meal plans Total Monthly Promotional Expense $151
Economics of One Unit Description of One Unit of Sale: 5-Dinner Plan (1 Day of Cooking)
Average Monthly Fixed Expenses * Numbers are rounded to the nearest dollar throughout.
Time-Management PlanSchedule for a Typical Week Total Hours in a Week = 168
Monthly Sales ProjectionsFirst Year Total Units Sold 252
Monthly Break-Even Units 571 = 8.04 71 In an average month, the company will begin to make a profit after selling units. 8
Start-Up Investment Total Start-Up Investment $5,000
ROS & ROI $10,241 $81,900 $10,241 $81,900 X 100 =13% ROS X 100 =13% ROS $0.13 $10,241 $5,000 X 100 =205% ROI $2.05
Financing Strategy Total Start-Up Investment $5,000
Business Responsibility& Philanthropy • Business Responsibility • Use natural, organic, locally grown ingredients • Use “green” practices • Choose vendors who are environmentally and socially responsible • Philanthropy • Provide internships for culinary students in the community • Speak to elementary students about healthy eating • Contribute 1% of yearly net profit to local food bank after three years of operation
Business & Personal Goals Business Personal • Build a strong customer base to ensure returning customers • Strengthen relationship with local grocers and farmers to reduce costs and offer better produce • Take a USPC course on growing a personal chef business • Use the services of the USPC more, including local meetings to meet colleagues Short-Term • Lease or buy a commercial kitchen to serve more clients by delivering meals to customers • Establish a relationship with the local community college in order to find graduating culinary students as possible employees • I have no plans to leave the business in the foreseeable future • Investigate the possibility that in the future the business could be franchised in other cities Long-Term
Let us be your personal chef! Eva'sEdibles Thank you for your consideration.