Professional Documents
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Noemi Gonzalez
MARKET SUMMARY FOR A PERSONAL CHEF ENTREPRENEURSHIP
FOURTEEN ELEMENT MARKETING PLAN
Current annual sales are between $500,000 and $750,000 with an advertising promotion
budget of 3% of sales, to equal $15,000. There are no additional funds for marketing available
at this time.
1. Type of Operation
2. Business Concept
3. Mission Statement
4. Market Area
5. Market Summary
6. Target Markets
7. Market Trends
8. Market Growth
9. Competition
10.
Competitive Advantages
11.
Marketing Objectives
12.
Financial Objectives
13.
Products and Services
14.
Promotional Plans and Calendar
Number of Customers
1990
1995
2000
Time
1. TYPE OF OPERATION
2005
The Bronx Gourmet is a Personal Chef business geared toward providing meals to families
who cannot otherwise find time to cook due to work or other schedule conflicts. The Bronx
Gourmet also caters events for 35 guests or less, all at affordable prices. It is a sole
proprietorship owned and operated by Noemi Gonzalez, a graduate of The Culinary Institute
of Virginia. The Bronx Gourmets first annual sales audit reported $500,000 which allows for
3% to be allocated towards advertising.
The following marketing plan lists, in detail, all of the critical points for advertising, target
market, competitors, and financial objectives.
2. BUSINESS CONCEPT
The concept of The Bronx Gourmet is to reduce the aggravation every consumer encounters
when waiting to be seated at their favorite restaurant, arriving orders to their table are
incorrect, and disputes over final check amounts.
Competitor A- Fine Dining Establishments
Competitors strengths include providing a more luxurious dining experience outside of the
home.
Competitors weaknesses include menus not being designed specifically for every customer.
Competitor B- Fast Food Establishments
Competitors strengths include providing inexpensive food at a faster rate with little to no wait
time.
Competitors weaknesses include nutritional content engineered to every consumer who
purchases.
3. MISSION STATEMENT
The Bronx Gourmet promises the best dining out experience in the comfort of your own home
by serving wholesome and nutritious meals that are designed specifically to the need of each
clients individual needs and wants. The Bronx Gourmet is a company dedicated to providing
a high-quality experience in a comfortable atmosphere for clients who seek a gourmet
experience outside restaurants, particularly in the home. We intend to make enough profit to
generate a fair return for our investors and to finance continued growth and development in
quality products. The Bronx Gourmet maintains a friendly, fair, and creative work
environment for all, which respects diversity, new ideas, and hard work.
4. MARKET AREA
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The Bronx Gourmet services The Hampton Roads area including The Peninsula and other
metropolitan regions in Southeastern Virginia. Most of The Bronx Gourmet clients include
doctors, lawyers, judges, school teachers, investment bankers, government officials, and out
of town vacationers. Consumers receive a three point promise upon receiving services:
Unsurpassed experience
First-rate customer service
Paramount quality of food
We strive to provide excellent service and fabulous food, all competitively priced. Most
common regions serviced include:
5. MARKET SUMMARY
The Bronx Gourmet offers a variety of in home meal preparation services to include meal
delivery, cooking demonstrations, and event planning. This personal chef business possesses a
great deal of knowledge on what the uncertain customer needs as well as reaching other target
markets. This information will be leveraged to better understand who is served, the specific
needs, and how The Bronx Gourmet can better communicate with the intended market.
6. TARGET MARKETS
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The Bronx Gourmet targets its customers by annual income & family demographic. We
believe that financial restrictions and number of family members will depend on how often a
particular family dines out or orders in on a monthly basis.
1. Single Parents
Single parents, both men and women have difficulty providing wholesome and nutritious
meals if they are bombarded by work schedules, extracurricular activities for their
children, budgetary restrictions, and overall wants.
2. The Working Professional
Affluent professionals find it very difficult to cook for themselves. Most of The Bronx
Gourmets clients that fall under this category are married couples with no children who
end up dining out on an almost daily basis. Current professions for these clients include
doctors, judges, government officials, and investment bankers.
3. The Virginia Beach Tourist
The VA Beach tourist is an ideal client for The Bronx Gourmet because they do not know
the area, are looking for something other than the usual take out they can acquire at home,
and have a vacation budget they can spend.
4. Event Planners
The Bronx Gourmet deals with event planners on a daily basis ensuring the collaboration
is a successful one for the client. Spring and Summer weddings are always the busiest
time with 62% of annual sales coming strictly from these events.
5. The Business Traveler
Clients who travel on business are not home enough to prepare meals for themselves that
will eventually go bad in the refrigerator. The Bronx Gourmet provides prepackaged
meals that can be frozen and ready for the client after a business trip. The idea behind this
meal delivery process is convenience and accessibility.
6. Fellow Business Owners
Fellow entrepreneurs enjoy networking with other local businesses to build their
professional contacts through business luncheons, client dinner parties, and catered office
training sessions. The Bronx Gourmet has serviced real estate companies needing these
types of services.
7. MARKETING TRENDS
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Demographic trends are affecting the industry. A large group of young adults, who
mainly grew up on fast food, have emerged as an economic force. This group's
perceptions on fast food, technology, and vending, will have a positive impact in the
personal chef business. Furthermore, overall population growth rates, and immigration
trends particularly, will also have a tremendous economic impact on the personal chef
industry.
8. MARKET GROWTH
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In todays world of running 24/7, preparing dinner is a job that a lot of people have
decided to turn over to someone else. Entrepreneur.com ranked personal chef as the 4th
fastest growing home based profession in 2012 and the popularity has not declined. The
demand for upscale prepared food is on the rise. It was also mentioned that the personal
chef industry revenues have reached $100 million with projections of $150 million within
the next 5 years. The total number of chefs is hard to determine as most estimates are
based on membership in different culinary associations and organizations. Candy Wallace,
executive director of the Personal Chef Association reports that there were 9,000 personal
chefs in the field in 2008 with anticipated growth projection of 25,000 by 2014. The
estimated customer base is 72,000 by 2015.
9. COMPETITION
The following are the largest competitors for personal chef businesses:
1. Fast Food Establishments
2. Casual Dining Facilities
3. Fine Dining Facilities
1. Fast Food Establishments offer inexpensive meals with an average wait time of less than
6 minutes.
2. Casual dining facilities offer the comradery of the family taking a much needed break
together.
3. Fine dining facilities offer the parents to get away for the evening while enjoying a
high end experience.
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10.
COMPETITIVE ADVANTAGE
The Bronx Gourmets competitive advantage over the competition stated in point number
nine is as follows:
1. The consumer will know exactly what is being put in their food. There are no
unknown by products used to enhance flavor.
2. The feeling of comradery can still be felt in the comfort of home. There is no
need to make reservations, look for parking, or hope that the children behave
in the restaurant.
3. Parents can still have their children spend the night away from home, while
they have the luxury of dining at home.
4. The bill is discussed before services are rendered so there is no surprise when
the guest check arrives at the dinner table. The Bronx Gourmet services are
pre-paid and the consumer knows exactly what they are receiving.
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REVENUE
COST
ADVERTISING
PROFIT
1. The Bronx Gourmets revenue intends to generate $100,000 in sales during the
predetermined time frame that the marketing plan is in effect.
2. The cost of advertising will be divided among a $15,000 designation for marketing:
a.
b.
c.
d.
e.
f.
g.
h.
i.
The cost for each one is broken down as follows, on an annual basis:
A.
B.
C.
D.
E.
F.
G.
H.
I.
$1026/YR
$175/YR
$4800/YR ($400 A MONTH)
$2500 (ONE TIME COMMERCIAL PRODUCTION)
$1200/YR ($100 A MONTH)
$1200/YR (100 A MONTH)
$200/YR
$299/YR
$3600/YR ($300 A MONTH)
$15,000/YR
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the components of advertising, personal selling, sales, social media, and public relations. It
will consider the product life cycle of introduction, growth, maturity, and decline. New
products and services will be introduced to the market to keep The Bronx Gourmets target
market intrigued and interested.
Promotional events will be held throughout The Hampton Roads area to support the overall
plan of generating $100,000 in sales. Events will be held during peak seasons of the year such
as Valentines Day, Easter, summer season, Thanksgiving and Christmas. Along with
promotional events, charitable donations will be given to organizations such as homeless
shelters, disabled American veterans, CHKD, and churches.
With time, the opportunity of a full-service advertising, web development, and public
relations will be taken full advantage of. Future goals include partnering with manufacturers
to roll out convenient kitchen tools for the home cook as well as the professional chef.
4. PROFIT
A profit of $75,000 in first the year of this marketing plan is predicted for The Bronx
Gourmet.
13. PRODUCTS & SERVICES
The Bronx Gourmet products & services include:
Custom menu development
Daily meal preparation
Family style dinners
Receptions
Weddings
Business Luncheons
Romantic Dinners for two
Weight Management assistance
Cooking Demonstrations
Weekly services include:
Because products & services are offered throughout the year, clients have a variation of
services to choose from. Each clients needs are unique to their particular situation, so menu
customization is integral for The Bronx Gourmet. Pricing of services depends on clients
chosen menu, type of event, and service needed. For example, a romantic dinner for two will
not cost as much as a Valentines Day romantic dinner for two. Experience has shown that
consumers will spend more on Valentines Day than any other day of the year. Second to that
are anniversaries and birthdays. Consumers are generally willing to spend more for personal
services than they are for dining out due to an overall feeling of uniqueness and custom value.
14. PROMOTIONAL PLAN & CALENDAR BEGINNING JANUARY 2015
January
February
March
April
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May
June
July
August
September
October
November
December
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