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THE CHOCOLATE LOUNGE

Business
Be a part of Imported Chocolate Revolution Hitting India

LOUNGE: OPP. JUHU BEACH & RAMADA PALM GROVE HOTEL, JUHU TARA ROAD, JUHU, MUMBAI-49 PARTNERS IN BUSINESS UTKARSH HALDIA RESHMA HEBBAR AKANKSHA SHAH KORANGI VORA RAJ AJMERA SIMRAN DEEP

Location & Ownership

Executive Summary

In Mumbai, the service industry is highly saturated with restaurants, cafes, pubs, and nightclubs. In order to enter such a market, you need to introduce a new idea. With Chocolate Lounge, it is exactly what we intend to do. Chocolate lounge brings with a new concept and idea, in which its general idea is CHOCOLATE and mainly all its products are chocolate based. Our lounge will have a transforming nature between the day and the night. In the day it is mainly a caf and a restaurant, where our customers would have breakfast or lunch, and also study or conduct business meeting in a calm atmosphere. However, during the night, our lounge radically transforms into one

Executive Summary

What we serve and our general idea is mainly enjoyed by people seeking a place to study or a classy and lively pub; such people are mainly categorized as students and working adults in their 20s 30s and 40s. With our more for more strategy, we limit our atmosphere to higher middle class. We offer more products, better quality, and an innovative, new idea, for prices maximally getting to an expensive Rs. 1,500 a couple, yet fully compensated for with our services. We recognize our competitors fully, and understand their strengths and the threats they pose on us, and consequently we developed a

Estimated Expenditure
NATURE
Rent Purchase of Furniture Purchase of Equipments Kitchen equipments Music System Reserve fund Television & Computer system Licensing Advertising Water + electricity + Telephone bills Inputs[ingredients ] Team training Interest on loan Miscellaneous expenses 5,00,000 per month 9,00,000 per month

COST PER UNIT


6,25,000

TOTAL
75,00,000 75,00,000 25,00,000 47,00,000 4,50,000 1,50,00,000 7,00,000 30,00,000 1,00,00,000 60,00,000 1,08,00,000 2,00,000 53,90,000 90,000

Employee salary
Employee uniform Cost of casher: casio Cost of decoration + interior designer

2,50,000
50,,000 49,000 1,00,00,000

TOTAL

9,11,79,000

Financial Plan

Loan of 4,00,00,000 from HDFC Ltd. @ 10% interest p.a. The remaining capital by partners(equally). Were expecting a sale of 7,20,00,000 i.e. Rs. 20,000 a day in our first year. By this we recover most of our expenses and the remaining would be overcome by the first two months of the next year.

Description of business:
Introduction to the lounge

Connotation of being joyful, comforting and special as a symbol of diverse human emotions. Chocolate is prestigious, romantic, nostalgic and an object of fantasy and addiction for children We are introducing a new chocolate culture concept and a chocolate bar experience in the Indian market. Unique experience of exquisite chocolate gourmet products. During the day a place to turn free time into quality time and in the night a pub that creates a comforting and chilling experience

Description of business:
Mission Statement

The Chocolate lounge mission statement : Establish chocolate lounge as the premier purveyor of the finest chocolate to customers, the best store and lounge in Mumbai and ensure a continuous strive towards perfection and precision in excellent quality .
Create exclusive chocolate based products. Integrate chocolate in our customers everyday life Establish an addictive product Be known for our unique customer relationships. Ensure an appropriate atmosphere

Description of business:
Environmental Mission Statement

The Chocolate lounge is committed to an environmental role in all aspects of our operations

This mission will be fulfilled by accomplishing these steps:


Guarantee a clean and healthy environment at the workplace following the highest level of hygiene. Use environmental friendly products. Encourage participation in environmental activities. Maintain good social and environmental responsibility.

Description of business:
Positioning the market

Positioning is how the company is seen through the eyes of its consumers by emphasizing on our beneficial differences in our customers minds. Through a new concept, we offer more benefits with a price exceeding our competitors because the products we will be offering will be unique in the market.

Positioning the market

Our positioning statement: To college students, working people, groups of friends, Chocolate Lounge is the first of its kind in Mumbai, a cafe during the day and a pub in the night; it is the place to be all day long.

Market Segmentation

Customer Based Segmentation Geographic location: It Is The Stating Point Of All Market
Segmentation. It Will Help In Planning Its Marketing Offer.

1. 2. 3. 4.

Demographic Characteristics: Targeting Mainly


Child Market(1-12) Teens Market(13-19) Adolescent Market(16-19) Youth Market(20-35)

Psychographic Variables Buyer Readiness

Review of Competition
Competitors

Strategy

Because the market is saturated with likes of our caf we find ourselves facing many competitors that also bring a special concept into the market. Our competitors are all cafs, pubs and lounges in the are surrounding our store. Coffee Houses: Costa Coffee, CCD, Barista, Bru World Caf etc

We Offer High Quality Products At Reasonable Price Constant Innovation Flexible In Nature Minimize Risk Coordination Improving Performance Promotion At Extreme Level

Future Outlook
HOW TO BECOME EFFECTIVE MARKET LEADER??? Creative process We should also make sure that our customers needs and requirements are fulfilled Accelerates expansion and diversification New marketing tools Stability of tenure Optimum utilization of resources Objective oriented

SWOT Analysis

Strengths

A new idea introduced to the market. The changing nature of the place(from a hangout place in the day to a pub in the night) will attract a high diversity of customers, therefore a higher attendance. Similar lounges have had successful experiences in other countries. High quality products for a reasonable price. Can attract people looking for a place to study in, and people looking for fun at the same time.

Weakness

A new concept, people might not easily grasp it. We are facing too many competitors. Targets a single social class Lack of experience in this specific concept. Although it is successful in other countries, there is a possibility of failure in Mumbai. High number of employees to be able to cover day and night shifts, this will cost us extra costs.

Opportunities

The expansion of the chocolate culture worldwide. The active Mumbai night life. The rarity of daytime hangout places in. The growing entertainment market.

Threats

The bad economical situation in the country. The explosive political situation. The high influence of word of mouth in Mumbai, a bad first impression might cost us a lot. Increasing taxes will increase our start up costs. Competitors copying on the idea.

Organization Structure
MANAGER ASSISTANT CHEFS
HEAD CHEF GENERAL MANAGER CASHIER AND ACCOUNTS MANAGER BARTENDER

SUPERVISER

WAITER

Staff Pre-requsites

General Manager: MBA CORE, PGD in hotel management and good work experience Head Chef: Post Graduate Diploma in Catering and hotel management Bartender: Diploma in bartending & good work experience Chef: Diploma in Catering Manager: MBA in Hospitality Management (from renowned institute) Accounts manager: MBA in finance, with knowledge of Tally Other Staff: Diploma in hospitality Management

Inaugural Strategy

In order for our project to be in full operating scale, a number of steps are in need to be taken. Assuming work must be started in the next month, that is if our project was approved today. FIRST MONTH: We need to choose a proper location for our business, the right place to rent, compatible with our budget and our needs. SECOND MONTH: Hire an interior designer and contractor to make the proper arrangements and repairs in the chosen location. THIRD MONTH: To make all the necessary installments. For e.g.:

FOURTH MONTH: Recruitment of employees starts , arrange interviews , meet potential chefs and DJs to insure customer satisfaction and high quality. FIFTH MONTH: 1)Organize every employees schedule between day shift and nightshift, as well as number of work days per week. 2)We should Perform necessary auditing and maintenance to make sure all operations will go smoothly.

Marketing Plan
Marketin g Mix

4 Ps

Marketing Plan
Product: Chocolate lounge, a high profile restaurant and pub, offers a wide variety of chocolate products as well as hot and cold dishes for breakfast, lunch and dinnertime. Price: We are targeting higher middle income groups. Place: Near colleges & the beach, to maximize footfall.

Promotion

Billboards and distribution of pamphlets outside malls, nearby colleges & offices Magazines & Newspaper Radio Ads on online Sites such as Facebook & Google Tie up with SnapDeal(for inaugural offers) Make Pages on social networking sites to keep customers up-to-date.

Total Quality Management

Our aim is to make sure that we are taking corrective action and achieving our objectives and goals. That is why a process of evaluation is needed from time to time. This is why MIS (management information system) should be installed in our company, to make sure a professional control system is on hand.

The following tables summarize the control process that our company is going to pursue:
WHAT SHOULD BE CONTROLLED Customer approval and satisfaction Sales analysis Suggestions and surveys Monthly

BY WHICH ACTIVITY

HOW OFTEN

Financial data Sales data Observation and response from the customers Investigation and observation Training Market research

Monthly 2 months

Marketing & advertisings response competitors Employees Performance and

3 months 3 months 3 months

Conclusion

Chocolate lounge being a combination of a caf, restaurant and a pub brings a new idea to the business offering generally chocolate based products. We introduced a new chocolate culture concept and a chocolate bar experience in the market that incorporates each aspect of chocolate in our everyday hectic life. Our target customers are mainly middle to upper class university students, as well as young professionals in their 30s and 40s. Our target customers are of a high profile because in our lounge we implement a more for more strategy. We also took into consideration the threats that our competitors pose on us. With our marketing mix being intact and well developed, we also came up with an action program that details our work in the upcoming months.

Thank You

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