Tsarskaya Creperie and Cafe

CITY
COLLEGE
INTERNATIONA
L FACULTY OF
UNIVERSITY
OF SHEFFIELD

BUSINESS PLAN
UP

FOR A START-

BUSINESS PLAN FOR A START-UP

Executive Summary
The last decade of years the globalization led to the increased competition and
the companies old and new more and more need carefully to understand the
market and customer behavior in order to succeed. The main purpose of the
project was to develop business plan for a new company and in our case of
"Tsarskaya" creperie. The creperie "Tsarskaya" will provide in the U.S. market
traditional Russian pancakes and crepes which makes their business objectives
achievable and successful. The first part of the business plan provides the
presentation of market situation with analytical description of competition, market
opportunities and customer profile analysis. The information is very necessary in
order to forecast the sales and opportunities for growth. The information about
strengths and weaknesses of creperie"Tsarskaya" provided in the business plan
and especially in the SWOT analysis where could be seen that the company has
more advantages by launching their business idea in the U.S. market. Also, form
market situation analysis could be defined that the service sector has steady
growth that minimizes the risks for the new business. The creperie"Tsarskaya" will
be situated in one of the most populated cities in the world New York which make
the perspectives of company to find potential customers. From the customer
profile analysis could be defined that "Tsarskaya" creperie mostly target Russian
diasporas which are interested and knowledgeable about the product more than
other groups of customers. On other hand, in the world a lot people are interested
in a new cuisines and tastes which make them also potential customers of the
"tsarskaya" creperie. Also, the close to universities and business center location
give opportunity to find a large amount of customers who are interested in the
fast and healthy food. The final part describes the finance issues of "Tsarskaya"
cafe with forecast sales and operating cost in the beginning stage. Also, in the
business plan presented the start- up budget where analytically defined every
expenditure of company before and after opening.

BUSINESS PLAN FOR A START-UP

Table of contents
1. Business
Concept.......................................................................................................4-5
1.1.
Description of the
company.........................................................................4
1.2.
Business
idea..................................................................................................4-5
1.3.
Mission and
vision...........................................................................................5
2. Products and
services.............................................................................. .................5
3. Market analysis
summary.........................................................................................6-9
3.1.
Market Situation Analysis and
opportunities.............................................6
3.2.
Competitive
Analysis..................................................................................6-8
3.3.
SWOT
Analysis.............................................................................................8-9
3.4.
Positioning
Strategy....................................................................................9
4. Marketing Plan and Sales
Forecast...................................................................10- 13
4.1.
Marketing
Strategy...................................................................................10
4.2.
Marketing
Plan........................................................................................10-12
4.3.
Target Market and Customer
Analysis.................................................12-13
4.4.
Sales
Forecast..........................................................................................13
5. Operations plan.................................................................................................
13-15
5.1.
Operations
description.........................................................................13-14
5.2.
Facilities..............................................................................................
.....14-15
6. The management and Organization structure...............................................1516
7. Financial
Plan .....................................................................................................16-19
8. Risk
Analysis..........................................................................................................20
9. Conclusion and Further Suggestions................................................................20
10. Reference
List....................................................................................................21-23

BUSINESS PLAN FOR A START-UP

1. Business Concept
1.1. Description of the Company
In nowadays is a large competition in the service sector and especially in
the food sector with large amount of restaurants, caf and creperie. In the
competition environment play important role the service quality and location of
the future caf&creperie Tsarskaya. In other hand, the location needs to be
convenient for the target market, visitors and future visitors. Also, it is vital
necessary to take into consideration the competitors location and cost availability
of location for the Tsarskaya. The Tsarskaya crepes and caf will be located in
New York with biggest Russians population. The location of the crepes &caf
restaurant will be located in Bronx district and especially in the shopping area of
Bay Plaza and near also the location of baseball stadium of Yankees. The
location was chosen in order to face in front some advantages of the street like
the central location, a large amount of student campuses and entertainment
zone. The main disadvantage of the future location is the close proximity to
competitors. The Tsarskaya supposed to rent the place of 500-1000 square
meters and the lease contract will be between $10000-30000/annum
(http://bronx.olx.com/q/restaurant-space-for-lease-in-the-bronx/c-368 ).

1.2. Business Idea

The main concept for this business idea is to provide in New York market
with future expansion to the whole country a different and unique type of crepes
or Russian nameBlini. Also, the atmosphere and design of the place will play
important role in attraction of potential customers. The place will be designed in

BUSINESS PLAN FOR A START-UP

traditional Russian ways with representation of traditional Russian palaces and
buildings. Also, the success of the business idea lies in the specially produced
crepes in traditional Russian recipes. Also, Tsarskaya will offer a variety of
Russian tea and coffee served in traditional ways. In the beginning, the range of
products and volume of production would be small but later conquest of the
consumer could give opportunity to company to be expanded. In addition, the
company will develop also type of service as ordering products on the Internet,
the delivery of products to home or office. The Tsarskaya crepes and caf is
planning to provide the following:
1) Russian baking pancakes and fritters.
2) Provision of services "takeaway"
3) The range of cafes which include hot and cold appetizers, main breakfast and
lunch dishes, the wine list will be provided in full.
4) Organization of celebrations, banquets and anniversaries.

1.3. Vision and Mission Statement.

Vision:
Always, in traditional ways at any time of the year - only fresh, high-quality
products!

Mission:
The Tsarskaya has the objectives to become one of the main players in the
service market of NY by offering new segment of products such as traditional
Russian crepes and pancakes. Through differentiation the companies see the
achievement of objectives achievable.

2. Products and Services.

Tsarskaya company is engaged to manufacture and sale traditional
Russian pancakes, crepes products and related products. Products are always
created in high quality and fresh. The pancakes and crepes will be manufactured
in traditional ways without yeast dough implementation. Pancakes and crepes was
always the Russian traditional dish that create advantage in New York market to
find Russian customers and not only. In the manufacture of pancakes and related
products will not be used preservatives and concentrates. The company will offer
the following important features comparing with the customers:
High quality

BUSINESS PLAN FOR A START-UP

Traditional recipe
Freshness
Excellent taste
Low-middle prices
The main products of the Tsarskaya will be the most successful in Ex-Soviet
countries recipes of crepes which are: Crepes Tsarskiye, Russian crepes and
Ukrainian Crepes.

3. Market Analysis Summary.

3.1. Market Situation analysis and opportunities.
Market analysis plays important role in the process of the preparation of
business plan. The restaurant industry growth faster than any other service
industry in United States by offering jobs to more than 12 million employees with
national average rate of 1.85 every year increase in jobs. The statistical
information from National Restaurant association of 2011 show, that the
restaurant industry sales achieved the amount of $610 billion dollars (National
restaurant Association, 2011). Also, more than 35% or U.S. restaurants are locally
owned with simple management form or owned by small restaurant chains.
According to the National restaurant association, the 80% of American citizens
enjoy their meal at locally owned restaurants and caf. The people last time
became busier and demographically changes in a worldwide scale. For example,
the globalization is one of the factors which affect the purchasing patterns and
behavior and the second more and more women are engaged to work or prefer
the career and their job. All these factors show that people more will depend in
the future from restaurants. Also, the main trend of nowadays population is the
healthy and traditional food.

3.2 Competitive Analysis.

Since the Tsarskaya crepes caf will be located in the most populated
districts of New York the downside to this area is the proximity of competitors that
offering similar services and products. In this location there are the main three
competitors of Tsarskaya which are the Crpe du Nord, Crperie NYC and Vive la

BUSINESS PLAN FOR A START-UP

Crepe. Below is presented the table of the competitive factors comparing with
competitors.

Factors

Our Business
Tsarskaya

Competitors
Crpe du
Nord

Crperie
NYC

Vive la
Crpe

Quality

Fresh, tasty
product.

The food is
Pretty
not fresh and mediocre
of high
Always warm. quality.

Always
delicious
crepes.

Location

Bronx district, Out of

High traffic of center, not
citizens.
busy place.

Very busy
place, in the
center.

In the center,
directly to
the bus stop.

Low middle
class prices

High prices

Above
average.

Average

Russian
traditional
crepe's.

Common
product

Common
product.

Common
product.

Price level

Product
exclusivity

Not common
product in the
market.
Variety

10-15
species.

Small variety Varied menu

of products

Same variety
with our
business

Reputation
of the firm

New firm.

Doubtful

Known
creperie,
constant
customers.

Known
creperie,
repeat
customers.

BUSINESS PLAN FOR A START-UP

Generally, the Tsarskaya has a low competition from the competitors due
to the differentiation of products. The most of the restaurants and caf in the area
are focusing mostly in lunch time dishes and providing the simple recipes of
crepes. Also, the Tsarskaya business concept focuses mainly in ethnic cuisine
and drinks. The others competitors of company is the indirect competitors or local
coffee shops which have an disadvantage in front Tsarskaya such as the
atmosphere of the stores that does not make very comfortable place to enjoy the
meal. Also, Tsarskaya has a competitive advantage such as extensive menu
with traditional Russian pancakes and crepes with innovative and exciting food,
focusing in service quality and uniqueness with elegant Russian traditional design
of place.

3.3. SWOT Analysis.

Since the external and Internal environment all the time changing and the
company is under the influence at the current market, it is necessary to identify
the the strengths and opportunities for the Tsarskaya in the changing
environment. SWOT analysis helps a new business to understand and analyze the
strengths and weaknesses and the opportunities and threats of the
environment.Tsarskaya Creperie SWOT analysis is presented below:
Internal Environment- Strengths

Good geographical location

In the center, near metro station
Affordable prices
Innovative product ( Traditional Russian crepes and tea)
Modern equipment
High quality products
Individual service for customer needs

Internal Environment- Weaknesses

Lack of managerial experience

New business, no experience
Many competitors

External Environment- Opportunities

Unique experience at our store

Friendly environment
Not common product
Prompt and efficient customer service

BUSINESS PLAN FOR A START-UP

External Environment- Threats

Unfavorable demographic changes

inflation
reducing the overall level of purchasing power
Economic crisis

3.4. Market Positioning

Tsarskaya creperie will be positioned as unique product in traditional
methods manufactured and one of the most important differentiating factors will
be the affordable price and variety of products. Below is represented the Market
Positioning map and the Tsarskaya position in the current market.

BUSINESS PLAN FOR A START-UP

4. Marketing Plan and Sales

forecast.
4.1. Market Strategy.
The main goal of theTsarskaya creperie is projected market penetration and
successive expansion of the market share. The main strategy established by the
company is to provide products in high quality with lower than competitors prices
with future expansion of the variety of products. Also, the Tsarskaya creperie
take into consideration the fluctuations in demand by stimulating the prices by
creating a strong brand image in the market. In order to succeed the established
strategies each company need to develop marketing plan.

4.2. Marketing Plan.

Product
The "Tsarskaya" will provide a large variety of Russian traditional crepes or
Russian well known name for crepes "blini". For Russians the "blini" is a
traditional food with large history which make to "Tsarskaya" to succeed in the
market through differentiation from other creperie. The company will provide also
a variety of non-traditional tea with different forest herbages. The crepes will be
made from wheat, buckwheat and other grains which are the most common in
Russia. The traditional recipes of crepes include also the sauce or the crepes will
be spread with butter, sour cream and caviar which are very popular ingredient
for Russians. Historical heredity of Russian crepes obliges "Tsarskaya" creperie to
honor Russian traditions by offering traditional crepes and other dishes. The main
characters of creperie menu - pancakes, crepes, pancakes pies, fritters. A total
amount of products in " Tsarskaya" creperie menu is more than 80 menu items.
The menu is not limited only with pancakes and crepes, the breakfast customers
will enjoy also for example the same scrambled eggs served on thin pancakes.

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BUSINESS PLAN FOR A START-UP

Place
Like any other restaurant the location play important role for the creperie. The
creperies are the common and favored food of students and busy people that
want to enjoy fast healthy food. For that reasons the best location for the creperie
usually the shopping malls, university campuses, the streets with large people
traffic and movie theatres. For the "Tsarskaya" creperie was chosen the shopping
area of Bronx district in New York. The Bay Plaza shopping center is one of the
biggest shopping centers in New York which make location of the creperie
affordable and comfortable for the customers. Also, in the area of Bronx situated
several Universities which make the location of "Tsarskaya" attractive and give an
advantage to have high demand through the year.

Promotion
Due to the new business, the "Tsarskaya" creperie will need to promote carefully
the business in order to cover the customers' needs and desires. At the beginning
the company plans to promote through public relations and media tools like
magazines, printed leaflets, outdoor billboards at the bus and subway station in
the Bronx area and radio. The printed leaflets will be shared and delivered to the
local businesses and residents' home. Due to the increased efficiency and usage
of social network "Tsarskaya" promotion campaign will be set up in social media
tools such as Facebook and Twitter. The magazines in the service and food
industry are the common way of promotion with high reputation for customers.
The "Tsarskaya" creperie had to be published through the famous U.S. cuisine and
food magazines such as Bon Apptit, Fine Cooking, Food & Wine, Gastronomica,
Gourmet and Taste of Home.

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BUSINESS PLAN FOR A START-UP

Promotion and communication mix elements planning per month.

Advertising

Price, USD.

Radio

50

Magazines,
newspaper

200

10

2.000

2
months

Brochures

0.15 per
brochure

2000

300

5
months

Transport
stations

300

700

Total Cost $

Quantity

25

Cost per
month, USD

1.250

publication
per year

4
months

3 months

4.250

Price
For the price analysis the "Tsarskaya" creperie used the pricing strategy
"cost plus profit". The price is one of the most important marketing mix elements
due to the company's profits and development depends on price and operational
expenses. The company by establishing price needs to take into consideration the
demand for the products, the operational costs and the competitors' prices. The

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BUSINESS PLAN FOR A START-UP

price for the crepes will have price variation between $3, 50 -$ 10 depends of
ingredients and extra components ordered by customers. For the drinks the
company will establish the price between $2-$4 depends on drink.

4.3. Target Market and Customer Analysis.

In order to succeed every new business need to understand and identify
the potential customers and to cover their needs and preferences. The
"Tsarskaya" creperie mostly target the New York Ex-Soviet ethnic group and the
local residents of Bronx district. But, for sure the other customers will find the
products useful and unexposed due to traditional ethnic cuisine from another
country. "Tsarskaya" creperie also will focuses on students from the near
Universities and sport- fans of baseball team "Yankees" due to the near location of
their stadium. The demographic structure of customers will vary from 5-50 years
old and especially young generation and business people due to their busy daily
program.

4.4. Sales Forecast

Product

2012 ($)

2013 ($)

2014($)

2015($)

Drinks and
other
Beverages

91800

105557

112140

121200

Tsarskye
crepes

74520

82800

85700

91116

Ukrainian
crepes

54390

59450

65790

70879

Russian
crepes

36680

41290

45670

48670

Other
crepes

25570

28900

31290

35600

5. Operations Plan
5.1. Operations description.
One of the keys of success is the right operations management. The main
processes and operations of the "tsarskaya" creperie are the service and sales of
the products to the customers in the store and outside the store by delivering the
products.

Also, the traditional cooking process is very complicated and need

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BUSINESS PLAN FOR A START-UP

experienced chef and equipment. For the cuisine the company will order a variety
of crepes "TEFAL" machines in order to make easier and fast preparation of
crepes. The cooking time of crepes vary from 1.5 to 3 minutes depends on recipe
and the amount of ingredients. The crepes and cafe drinks will be offered to
customers during the whole operation hours of "Tsarskaya" creperie with elasticity
program during the week. The production and operational process of preparation
and service of pancakes and crepes would consist of the following actions
operation:
1) Ordering process
2) Cash
3) Quality control of ready crepes
4) Production and preparation of pancakes and crepes
5) Execution and delivery order

5.2. Facilities
The interior design of "tsarskaya" creperie will be created in traditional
Russian styles and ways. The main concept of the interior is to represent the
Russian interior design during the times of Russian monarchy. The interior will
have a simple, cozy and quiet design. The service room will be more than 200
square meters. The tables and other furniture will be made from valuable wood
and the main part of furniture will be handmade with Russian traditional symbols.
Also, the place will be decorated with old items such as Russian dolls "Matrioshka"
and near the windows will be situated the Russian traditional heated metal
container or "Samovar". All the walls of "Tsarskaya" creperie will be exhibited with
a collection of pictures of the copies of Russian painters. (See the photo examples
of interior design)

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BUSINESS PLAN FOR A START-UP

6. The Management and

Organizational Structure of the
"Tsarskaya" creperie.
Every business and the restaurant or creperie is no exception need a host
of business and employees with management and service skills. The "Tsarskaya"
creperie in the beginning stage will have the form of Limited Liability Company.

15

BUSINESS PLAN FOR A START-UP

The company will be operated and managed by director who also is the owner of
the company. The director will have the legal entity to hire and get out the
employees according to the U.S. Labor laws and will participate in the labor force,
punishments and applies incentives. For the administrator and accountant
positions will be established some limitations of recruitment such as high
education, work experience more than 3 years and communication skills. The
administrator will be responsible for the operation process, the provision of raw
materials and staff negotiations. The accounant will be responsible for the
financial operations of company with monthly reporting to the owner. Also, the
accountant will monitor the cash flows and inventory cash flows. The other staff
of "Tsarskaya" creperie will be presented with following staff:

1Cashier
1 Bartender
6Waiter
2 Cleaning staff
1 Dishwasher
Below is presented the Organizational structure of "Tsarskaya" creperie.

7. Financial Plan
Startup cost
Starts up costs are the costs associated with the creation of a company. Some
costs obtained for the creation of "Tsarskaya" creperie is showed below.
Star up cost in USD:

Start up costs:
Rent costs

16

BUSINESS PLAN FOR A START-UP

10.000
Legal services (Lawyer, employment contract)
700
Licenses
50
Taxes ( administration taxes and other taxes)
300
Equipment
50.000
Deposit for utilities
70
Leasehold Improvement
12.000
Salaries
8.000
Initial inventory
11.000
Advertising and promotion
10.250
Other expenses
5.000
Total Startup Cost
107.370
Income Statement in $
Years
2014

2012

Sales
340.770

367.465

COS
38.000

40.000

Gross Profit
302.770

2013

2015
282.960

317.997

30.000

34.000

252.960

283.997

327.465

Expenses
Salaries
14.000

8.000

11.000

16.000

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BUSINESS PLAN FOR A START-UP

Salary commission
3.800
4.200

2.700

3.200

Director salary with commission

2.000
2.000

2.000

2.000

Phone
170

150
250

Water, electricity and heating

2.300
2.900
Rent
50.000
Safety
1.000
Accountant
800

2.500

50.000

50.000

1.000

1.000

1.000
800

800

1.200

1.200

800

4.250

4.250

1.500

1.500

4.250

Other expenses
1.500
1.500
Total expenses
81.000
84.100

Net Profit before tax

221.770
243.365
Tax 15%
33.265,5

2000

50.000

Maintenance
1.200
1.200
Advertising
4.250

200

73.465

77.650

179.495

206.347

26.924,25

30.952,05

36.504,75

Net profit after tax

188.504.5
206.860,25

152.570,75

175.394,95

Break Even point

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BUSINESS PLAN FOR A START-UP

It is the point where the revenue or sales of a company equal to total costs. That
is, the point where the company has neither profit nor loss. To find the neutral
must distinguish between variable and fixed costs of our business. As, we can see
in the below statement the breakeven point of "Tsarskaya" creperie will occur in
second year of operation.

Cash Flow in $
"Tsarskaya" creperie cash flow yearly
2014
2015

2012

2013

Cash Inflows
Owner Investment

101.370

Beginning Balance
104.730,7
100.000
Cash Receipts
340.770

88.635,75
282.960

317.997

367.465

Total Cash Inflows

445.500,7
467.465

384.330

406.632,75

Cash Outflows

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BUSINESS PLAN FOR A START-UP

Salaries
14.000

Advertising
4.250

1000

2.000

2.500

4.250

4.250

800

800

4.250

Accountant
800

800

Rent
50.000

50.000

50.000

1.200

1.200

50.000

Maintenance
1.200

1.200

Phone
170

150

200

250
26.924,25

30.952,05

36.504,75

Start up Expenses
-

101.370

Total Cash Outflows

106.940,5
112.904,75

195.694.25

Cash at the end

338.560,2
354.560,25

Withdrawals
238.560,2

1.000
1000

Water, electronic and heating

2.300
2.900

2014

11.000

16.000

Safety
1000

Earning Tax
33.265,5

8.000

188.635,75

101.902,05
304.730,7

2012

2013

100.000

200.000

2015
-

* Cash flow is the flow of income and expenditure of money in an

account for a period of time. Activities such as funding and donation can
be set up to cause cash inflows, while spending unnecessary
investments and cash outflows.

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BUSINESS PLAN FOR A START-UP

8. Risk Analysis
Every business in the first stages can face in front the challenges and
failures or in business words the business risks. The "Tsarskaya" creperie due to
the new venture at the beginning could face risks associated with sales and
delivery service quality. After the economic crisis in 2008 the economic world are
in the non-steady that make the new venture risky. Usually the new ventures need
to take into consideration the economic and political factors of each country.
Below in the market analysis was defined that the U.S. market has slow growth
that reduce the risks for the "Tsarskaya" creperie. Also, the companies usually at
the first stages face in front the risks associated with low demand. But the most of
surveys show that the new ventures failure due to the not detailed market
research, underestimate competition and the financial plan is not achievable.

9. Conclusion and Further

Suggestions
In conclusion, the current situation in the service market obliges the new
ventured to develop carefully the business concept and plan in order to succeed
in the competitive market. The business plan for "Tsarskaya" creperie was
developed in order to launch new business in the U.S. market and especially in
the New York. The market situation analysis show thta the market provide a large
amount of advantages and opportunities for the creperie which will provide new
differential product such as traditional Russian crepes and pancakes. The creperie
all the time was popular place for people who enjoy their breakfast or lunch by
eating healthy fast food. The main strategies of the creperie "Tsarskaya" is the
expansion in the market with later increasing of market share. The low prices
comparing with competitors make the objectives achievable. The creperie
"Tsarskaya" has a variety of advantages such as the new business concept with
new ideas and differentiation.

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BUSINESS PLAN FOR A START-UP

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