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MGMT 260 Champlain College New Coffee Shop Building and Opening up Project

MGMT 260 Champlain College New Coffee Shop Building and Opening up Project

Question Description

Project Charter for building up and opening up an average sized 24 hour coffee shop

Background: The coffee culture is deeply entrenched within the lives of the Americans. The coffee shop business is way too familiar with mainstream America. Examples include Starbucks, Dunkin Doughnuts and numerous local coffee shops. Even though the coffee business is billions of value, there is no dearth of customers to serve.

St.Louis offers a diverse demographic and vast urban population for “Street Coffee Cafe” to begin its operations. By creating an unparalleled customer service experience and a unique atmosphere which will enhance the senses of our customers we will be effectively able to capture significant market share from our competitors and drive revenues.

“Street Coffee Cafe” is determined to become a daily necessity for local coffee addicts, a place to dream of as you try to escape the daily stresses of life and just a comfortable place to meet your friends or to read a book, all in one.

Objectives:

1. To become selected as the “Best New Coffee Shop in the area” by the local restaurant guide within the first 3 months of operation

2. To serve the best quality and most interesting varieties of coffees, teas, espresso drinks and accompaniments at all times to everyone

3. To maintain 65% gross margins

4. To turn in profits from the first month of operation

5. To aspire for quality and character in all product and service offerings

6. To provide first class customer service that is prompt, friendly and efficient

7. To continuously strive to innovate new varieties of coffee to attract diverse customers

8. To provide customized offerings to our customers enhancing their experience

9. To strive to maintain long term relations with our customers

10. To maintain high quality standards including food accreditations

Scope: The project scope involves the following:

i) To secure investment from investors

ii) To secure land for construction of the shop

iii) To facilitate construction of the shop

iv) Marketing of shop to the local Chicago residents

v) To ensure smooth functioning of the shop

vi) To ensure profits from the first month of operations

vii) To ensure high quality standards and ethical practices

Client: Banks providing loans, Customers (local as well as from other states)

Sponsor: Funding for the company comes from two major sources–owners’ investments and bank loans. The major owner with his partners has contributed $100,000.The remaining $80,000 needed to cover the start-up expenses and assets came from the two bank loans–a one-year loan in the amount of $30,000 and a long-term (five years) loan of $50,000.

Project Manager: Mr Alex Ferdinand

Project Team Members: Mrs. Alexa Hailey, Mr. Diego Rodriguez, Mr. Donald Hernandes, Mr. Ivan Thomas

Project Milestones: These are mentioned as below

i) Approval of Project Charter

ii) Approval of Project by Project stakeholders: Financial and stakeholder analysis are presented to all the members

iii) Completion of Project Plan

iv) Approval of Project plan

v) Hiring of required personnel

vi) Initiation of Project Plan: Signature of all stakeholders

vii) Mid Project Review: To include any business changes if required

viii) Project Completion: Outcome of the project documented for review

Event Progress (with Delivery dates)

Business proposal: April 15

Financial Analysis: April 30

Interior Design : May 15

Lease Agreement: May 30

Marketing Proposal: April 30

Coffee shop furniture: June 2

Kitchen Appliances: June 2

Coffee, Tea equipment: June 2

Office Furniture: June 10

Point of Sales System: June 15

Training: June 30

Non-perishable items: July 15

Perishable Items: July 30

Store manager employed: August 5

Store Staff employed: August 5

Operations begin: August 6

Project Budget: $180,000

Legal Expense $3000

Marketing Promotion $3500

Consultant fee $3500

Labour Expense $30000

Operating Capital $60000

Start up inventory $20000

Equipment $60000

Risks:

i) To secure investment from the banks

ii) Approval of project charter by stakeholders

iii) Meeting deadlines

iv) Exceeding the budget

v) Changes in project requirements

vi) Hiring competent staff

vii) Failing to meet quality standards

Revenue Estimation:

Sales itemsYear 1Year 2 Year 3

Coffee beverages $400000$450000$500000

Coffee beans $60000$65000$70000

Other items$35000$55000$80000

Total Sales $495000 $570000 $650000

Approval Signatures: From all the stakeholders (Owner, Project Manager, Sponsors-Bank Officials, Consultant etc)

References-

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