Pasta Bowl

demo student [[email protected]]

Project Summary

SUMMARY
We will open a pasta restaurant in the centre of Bath that specialises in selling delicious, freshly made, and quick pasta dishes at affordable prices.
 
THE PROBLEM 
In Bath, people are bored with the lunches on offer. There is the usual uninspiring mix found in any city and town centre. Where delicious hot food is available, customers have to sit down and often wait and often prices are much higher.
 
OUR SOLUTION 
A fresh pasta restaurant that prepares its pasta daily on the premises. Because pasta is quick to cook and because sauces will be pre made, we can create each order in less than 5 minutes while also offering the highest quality lunch.

The Team

We are a team of 3 university students at the University of Bath. Food is our passion and we have all spent long summers travelling in Italy where we fell in love with fresh pasta.
We also have experience of the food industry. John worked in the kitchen of successful Italian restaurant during his gap year. Anne ran a pop up in her local market selling baked goods. And Peter has worked as a waiter across a range of successful restaurants during his holidays and weekends. We will be graduating in 5 months and our plan is to launch Pasta Box and work full time in the business after university.

Testing

We have done a range of testing, focusing on our critical assumptions. 

We have focused testing around our customers, our value proposition and the restaurant space. 

So far we have validated 3/4 of our critical assumptions.
Critical HypothesisTestsStatusConclusion
Cost hypothesis:
Restaurant rent will be 5000.0 Monthly1Valid

We successfully found several good options of available leases to open the restaurant meeting all key criteria

Value Proposition hypothesis:
Freshly made Italian pasta with a choice of delicious sauces ready in just 5 minutes2ValidTaste tests and an 8 week stint selling our product in a local market proved the demand for our pasta
Get Keep Grow hypothesis:
Clean and well presented store with options for pasta and sauces displayed clearly0
Get Keep Grow hypothesis:
Menus distributed to local offices1InvalidDid not work ... no one bothered to distribute them internally
Customer Segment hypothesis:
Office workers3Valid

Interviews and observation proved that there is an unmet among office workers for our pasta restaurant. Add more here. Type here.

Customer Segment hypothesis:
Tourists0Unknown

We have planned tests, but not yet completed any so this hypothesis is still unknown.

 

We intend to complete these tests over the next month and update. 

Sustainability hypothesis:
Recycle all food waste for compost0
Cost hypothesis:
Restaurant refit will be 50000.0 Once1ValidQuotes confirm cost of refit at 50K

Customer Segment

We will target two key customer segments as described below. Tourists and Office Workers.

Tourists

Description

Business to Customer (B2C)
20 - 35

Tourists in Bath for the day visiting the city in small groups who don't know the city well but want something quicker on the go.

Traits

Influences

To have a hot and filling lunch that they can eat quickly in a casual environment before heading out for more tourist acitivities.

Trying local places. Saving money. Eating delicious food.

Getting ripped off because they are tourists and don't know the area well. Buying food that tastes bad and doesn't fill them up. Having a bad experience that could ruin their holiday.

Office delivery service users

Description

Business to Customer (B2C)
0 - 12
A local marketing company wants to provide a lunch delivery service.....

Traits

Influences

Office workers

Description

Business to Customer (B2C)
28 - 69

Office workers in York that like to eat out for lunch time.

Traits

Influences

To get a quick and healthy lunch

To get excited again by lunchtime and look forward to lunch

They get bored with eating the same food everyday. When they try other options often the food takes too long to come.

Value Propositions

We will beat the competition by offering a superior product, at an equivalent price.

Freshly made Italian pasta

Unique Selling Point

Freshly made Italian pasta with a choice of delicious sauces ready in just 5 minutes

Competition

Competitor NameWhat they do well?What they do badly?

Little Sardinia (local Italian restaurant)

Delicious food freshly cooked

Sit down environment means eating can be slow (up to 60 minutes) and the prices are high

Pret a Manger

Healthy fast food with good variety

Limited choices of hot food and chain store means that no excitement of tasting something new

The Bath Sandwich (local sandwich shop)

Freshly made good tasting sandwiches with a unique Bath twist at reasonable prices

Variety is limited to different types of hot and cold sandwiches

Get Keep & Grow

ertwt

Get

Awareness

Menus distributed to local offices

Colourful and attractive branding and signage

Purchase

Free options to try before you buy

Clean and well presented store with options for pasta and sauces displayed clearly

Keep

Brand

Changing menu with daily specials

Pasta in the morning prepared freshly for customers to see

Rewards

Loyalty card with free meal on 10th visit

Friendly staff that learn regular customers' names and preferences

Grow

Cross Selling

Fresh juices and salads

Up Selling

Option to go large for just £1 extra

Referral

Free fresh juice if you bring a friend

Channels

The restaurant, as our premises for producing and selling the food, is critical to the success of this venture. We will rely mainly on foot traffic and passers by. Therefore having a well located, attractive and welcoming space.

1000 square foot restaurant / pop up restaurant for city events

Details

A large open plan restaurant located right in the middle of town

Reason

The location is convenient to both our customer segments, tourists and office workers. The large open space allows us to make pasta on the premises while having space for some high tables and stools to allow customers to eat in

Test 1

Details

Reason

Operations

We have split the operations of our business into 3 sections, Development, Engagement, and Delivery. 

In Development, our work is focused on setting up the restaurant. 

Engagement will be focused on creating demand among office workers and tourists to visit Pasta Bowl through an attractive brand, and networks. 

For Delivery, the key will be sourcing the raw ingredients and preparing delicious food.
DevelopmentEngagementDelivery
Key Activities
Design menu and recipes
Rent and renovate the restaurant
Source ingredients
Prepare and serve food daily
Key Resources
Startup funding
Well designed and attractive restaurant
Local business networks
Contracts with key suppliers
Italian chef
Key Partners
Builders
Design agency
Suppliers
Recruiters

Finance

Our major startup costs are the restaurant rent and refit. We need to raise £45,000 to make this venture possible. 

Based on our projections, the business will break even in month 5 and by month 12 our monthly profit will be £42,833. 

Having proven this business model we will look to franchise it across the UK.

Fixed Costs

Restaurant refit - will cost 50000 once
Restaurant rent - will cost 5000 monthly
Wages - will cost 2000 weekly
Utilities - will cost 2000 monthly
Insurance - will cost 200 monthly
Rates (Tax) - will cost 300 monthly
Property Tax - will cost 250 monthly

Variable Costs

Small pasta - will be 2.1 per box
Large pasta - will be 2.6 per box

Product Pricing

Small pasta - will be sold at4per box. Your projected sales are111000 unitsper year
Large pasta - will be sold at5per box. Your projected sales are36800 unitsper year

Cash In

Small pasta4000800016000320003200032000500005000052000540005600058000
Large pasta250040007500125001750020000200002000020000200002000020000

Total Cash In

65001200023500445004950052000700007000072000740007600078000

Cash Out

Fixed
Restaurant refit416741674167416741674167416741674167416741674167
Restaurant rent500050005000500050005000500050005000500050005000
Wages800080008000800080008000800080008000800080008000
Utilities200020002000200020002000200020002000200020002000
Insurance 200200200200200200200200200200200200
Rates (Tax)300300300300300300300300300300300300
Property Tax 250250250250250250250250250250250250
Variable
Small pasta200040008000160001600016000250002500026000270002800029000
Large pasta100016003000500070008000800080008000800080008000

Total Cash Out

229172551730917409174291743917529175291753917549175591756917

Monthly Cash In/Out

-16417-13517-7417358365838083170831708318083190832008321083

Cumulative Balance

-16417-29933-37350-33767-27183-19100-20171506733150522337231793400
Month 1Month 2Month 3Month 4Month 5Month 6Month 7Month 8Month 9Month 10Month 11Month 12

Sustainability

As a team, running a business that is financially as well as socially and environmentally sustainable is very important to us. Therefore we will pay all staff a living wage and a secure job. 

Environmentally, we know that the food industry creates huge waste. Therefore we will minimise this impact from startup. We will not use any disposable  plastic in our business. And we will recycle all food waste and donate to local gardening projects. Furthermore, at the end of each day we will donate all edible food to local homeless shelters.

Social Sustainability

Social Problem

Social Value

Low paid insecure work

Offer staff the living wage and guaranteed hours

Enviromental Sustainability

Environmental Problem

Environmental Value

Lots of food waste

Recycle all food waste for compost

Plastic rubbish

Use biodegradable boxes, cutlery and bags

Calculate CO2 emissions

What is our carbon footprint

How does our business model align with SDG s

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