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Vending Services Business Plan Leave a comment
Introduction
Chef Vending, LLC is a family start-up business that specializes in importing vending machines and commercial food & beverage equipment from Spain. With innovative, first-to-market, high quality vending machine designs, we intend to break into the vending sector. We will set up our own vending machines in the Southern Florida region. We also plan to participate in the $321 billion food & beverage industry by supplying high-quality innovative equipment. We anticipate exceeding our financial forecasts due to the formation of a strategic alliance with a nationally recognized brand in one of our vending lines.
The Company
Chef Vending is committed to being the market leader in the introduction of innovative, high quality vending machines as well as restaurant equipment. Through close customer contact and excellent relationships, we will meet the needs of our customers wherever we can.
Chef Vending, LLC, a Florida corporation, is privately held and has an office and small warehouse in North Miami Beach, Florida.
Three of the four founders have complete operational responsibility. Mauricio Ordonez and Javier Palmera, the co-founders, have both entrepreneurial and industry experience. Charles Mulligan brings operational management and financial skills to the operation.
The Products
Chef Vending will offer two product lines for each market. Our vending products include the Multi-line Dispenser, Fresh Orange Juice Machine, and our Sandwich Express machine. We will also be selling restaurant equipment such as toasters, fresh juices squeezers, and espresso machines.
Sandwich Express is one of Chef Vending’s most innovative products. It has functions and benefits that are not available in other vending machines today.
In the future, we plan to expand our current line. In the immediate future, we plan to introduce a larger Sandwich Express model that will offer more variety in sandwiches as well as a wider product range, such a pizza. The exploratory phase includes other products.
We are also interested in establishing supplier relationships with major sandwich and juice companies. Chef Vending would be able to supply machines to national businesses and allow them branding the machines with their product line.
The Market
According to the Automatic Merchandiser magazine’s latest State of the Vending Industry Report (April 2012), revenue from U.S. vending products reached $24.5 billion. This represents an increase of 4.9%. Market share was 5.8% for small companies that have sales of less then $1 million. This market had sales projections of $1.35billion. Three quarters (75%) of all vending companies are in the small category.
Snacks and cold beverages make up the majority of the industry’s product categories. These two segments are the industry’s driving force. According to Automatic Merchandisers, the food category saw a 7.7% growth last year. Cold storage machines grew at an even more impressive 42% last ylear, with this growth coming at the expense of shelf-stable products.
According to the National Restaurant Association (NRA), restaurant revenues are projected to exceed $321 billion. This is a healthy sector in our economy and it is expected that suppliers will benefit from the growth.
This all shows that a company that is innovative and fast-moving can gain significant market share quickly by introducing new products to customers of vending machines/restaurant equipment.
Chef Vending will market the machines to three market segments: distributors, juice and sandwich manufacturers and end users. For our restaurant equipment business we will focus on restaurants and hotels and equipment supply companies.
Financial Considerations
The initial startup cost for the company is approximately $157,000. $125,000 of that amount will be paid by a ten-year SBA loan. An additional $2,500 will be available for short-term borrowing, and the rest will come from investment capital.
We expect our monthly breakeven to be $93,000 or 27 vending devices. We are confident that our unique vending machines and restaurant equipment will attract customers at a level well beyond this break-even. The first year will bring us $500,000 of net profits on $2.8million in sales.
1.
1 Objectives
In our first year of operation, Chef Vending’s goals are:
- Buy 400 vending machine.
- Directly place 10 vending devices that we will operate in South Florida.
- Get $500,000 in sales with our restaurant equipment range.
The following are our growth targets for the next two-years:
- Increase our vending machine, equipment and business growth by 20% per year.
- Increase your revenues 25% with our vending machines directly.
1.2 Mission
Chef Vending’s goal is to be the industry leader in providing innovative, high-quality vending machines as well as restaurant equipment. We will satisfy our customers’ needs wherever possible through close customer contact and strong relationships. Chef Vending will make enough profits from its operations to finance future growth and maintain its stability. By maintaining a family-friendly work environment, we will be able to add value to the community.
Success: 1.3 Keys
We must focus and work hard as a start-up company that is new to the market and introduce new products. The keys to our success are:
- Quality support and service, recognizing that Chef Vending’s success depends most critically on the relationships it’s able to create.
- High quality, innovative products that expand existing markets while also creating new markets for our customers.
- Steady, disciplined pattern of growth.
- We care about our customers and how they feel.
