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Sensitivity: Internal

Module Leader

• Mr. Yuriy Barabantsev • [email protected], +41 27 922 04 04 • Available upon request

Description of the module

This module will explore entrepreneurship and business innovation from a strategic level. Students will use their culinary knowledge, skill and creative thinking to write a business feasibility report based on their personal culinary focus. Students will be able to understand the relevance and importance of undertaking secondary and primary research within the culinary industry. During the module it will help students develop problem identification, problem prioritizing, and problem- solving skills and how to lead entrepreneurially. Students will grow their knowledge by applying their skills and consider creative opportunities that they can consider critically using frameworks to make good business decisions.

The module is designed around researching, idea generating, and the creation of a feasibility report that will lead to a Business Plan Project.

Module Specification A module specification is a formal document that describes a module and how it will be taught and assessed. The module specification for 6HO722 is available in the Module Information tab.

Module Learning Outcomes On successful completion of the module, students will be able to:

1. Critically examine the different functional areas impacting the food and beverage service industry and identity opportunities that can lead to innovation 2. Critically evaluate the feasibility of various components of a food and beverage related to the business plan and gain an understanding of the various constraints placed upon business decisions due to the external environment.

3. Prepare and present a well-researched business idea and feasibility study relating to a food and beverage business.

Module Content This module may cover the theoretical and practical aspects of some of the following: • The Business Plan: An Overview; • Business Models; • The chef as an entrepreneur: thinking outside of the kitchen ; • Opportunity, feasibility and Market Analysis; • The Entrepreneurial Solution and Concept;

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Sensitivity: Internal

• Industry, target customer and Competitive analysis; • Feasibility Studies; • The Product Development Process and Operations; • Product/ Service plan; • The Offering; • The Marketing and Sales Plan; • The Product Development Process and Operations; • The Management Team and Organizational Structure; • Critical Risks and Problems; • Financial Planning; • Financing sources; • Writing an Executive summary plus use of Appendices.

Module Learning and Teaching Scheduled Learning and Teaching Activities

25%

Guided Independent Study

75%

Placement Learning

0%

Schedule of work Topic area Activities Directed Study

1 Rules of the game

To be an

ENTREPRENEUR …

or not

• Introduction to the module 1 and 2 – aims and expectations.

• Overview of assessments and the requirements to be met

• Difference between Feasibility Study and Business Plan

• Writing an Executive Summary • Leadership • Entrepreneurship • Risks and rewards

Read the module handbook carefully.

Understand the success criteria.

Find an entrepreneur that inspires you and be ready to present it.

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Sensitivity: Internal

Module Assessment Description Component 1: COURSEWORK Summary of Assessment Method: An Individual Feasibility Report for a food and beverage operation (1,500 words). Weighting: 100 % Assesses Learning Outcomes: 1, 2, & 3

Assessment Schedule Assessment Weighting Submission Date Return Date

Component 1: COURSEWORK 100% 15/12/23 26/01/24

Assessment Criteria & Assessment Rubrics The full assessment criteria for this module can be found in an assessment brief located in the assessment section of the module page.

Sustainable Development Goals Sustainable Development Goals (SDGs) are the blueprint to achieve a better and more sustainable future for all. SDGs explored in the course are:

SDG5 Gender Equality

SDG9 Industry, Innovation & Infrastructure

SDG10 Reduced Inequalities

SDG12 Responsible Consumption & Production

Reading List Barrow C. (2021) The Business Plan Workbook: a Step-by-Step Guide to Creating and Developing a Successful Business. 10th ed. Kogan Page Blackwell, E. (2017). How to Prepare a Business Plan: Your Guide to Creating an Excellent Strategy, Forecasting Your Finances and Producing a Persuasive Plan. India: Kogan Page.

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Sensitivity: Internal

Module Leader • Mr. Yuriy Barabantsev • [email protected], +41 27 922 04 04 • Available upon request

Key dates and details

Assessment Type: Individual

Report

Assessment weighting: 100%

Word count/Length: 1,500 words +/- 10%

Learning Outcomes: 1, 2 & 3

Submission Method: Turnitin / Blackboard Assignment

Submission Date: 12:00 Noon UK time, 15/12/2023

Provisional Feedback Release Date: 12:00 Noon UK time, 26/01/2024

Description of the assessment Summary of Assessment Method: An Individual Feasibility Report for a food and beverage operation (1,500 words). On successful completion of the module, students will be able to:

1. Critically examine the different functional areas impacting the food and beverage service industry and identity opportunities that can lead to innovation 2. Critically evaluate the feasibility of various components of a food and beverage related to the business plan and gain an understanding of the various constraints placed upon business decisions due to the external environment.

3. Prepare and present a well-researched business idea and feasibility study relating to a food and beverage business.

Assessment Content Based on the achievement of learning outcomes 1, 2 & 3. To be submitted in week 10. In the assessment you are required to prepare a 1500-word feasibility report for a food and beverage operation of your choice. It can be located in any country and for that reason must comply with the country’s laws and regulations, but all financial considerations and any costing must be in Swiss Francs.

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Sensitivity: Internal

Conducting a feasibility study prior to investing the time and money to open a business can help an entrepreneur make a more informed decision about the venture's chances of success because they often overestimate the size of the market and do not take into account tough competition. Your research and findings should be included in the feasibility report and referenced appendices can be included. You should cover the following areas although you are free to include more.

1. Executive Summary 2. Consumer understanding

o Consumer description o Needs / Desires / Likes / Dislikes o Data, facts, numbers, sources are mandatory

3. Concept & Business objectives; o Concept o Value proposition o USP / Mission statement

4. Assess the market; o Evaluate potential locations. o Review competition and the industry that you are entering. o SWOT

5. Legal requirements o Local legal requirements

6. Technical analysis o Detailed requirements of the facilities, o Inventory and production o Storage o Delivery

7. Management analysis o Skills and talent of the management team o Primary duties of each person o Description of the organization structure.

8. Financial analysis o Balance Sheet (Preopening + 5 years) o Income Statement (Preopening + 5 years) o Statement of Cash Flow (Preopening + 5 years) o (Sources and Uses of Cash – Start-up costs) o Monthly costs o Average check o Opening days/hours o Monthly / yearly sales

9. Timelines o Produce timelines and plan. o Gantt graph

10. Conclusion o Evaluate profitability and success based on the above factors.

Assessment Rubric Criteria 100-70% (1st) 69-60% (2:1) 59-50% (2:2) 49-40% (3rd) 39-35% (referral) Below 35%

Executive Summary

20%

Extremely well written executive summary Expressed very well and structured in an appropriate format. All relevant data and information has been accurately and extensively deployed from the feasibility study.

Well written executive summary that is expressed well and structured in an appropriate format. Relevant data and information has been deployed from the feasibility study.

The executive summary is structured in an appropriate format. Most data and information has been deployed from the feasibility study but there are some gaps.

Some thought given to the executive summary that has some structure with a reasonable format. Some gaps in the data and information deployed from the feasibility study.

Poor thought given to the executive summary that has little structure. Many gaps in the data and information deployed from the feasibility study.

Very little thought given to the executive summary. Many gaps in the data and information deployed from the feasibility study. Executive summary and or feasibility study could be missing

Comments

Research findings and originality.

20%

An outstanding piece of work that is produced to a very high standard. It is exceptionally well researched and the findings are commendable in their originality.

A high quality piece of work that is of a very good standard and is well researched. The findings display originality.

A good standard piece of work with some originality displayed. The work is quite well researched but there are some deficiencies in the findings.

A sound standard of work that is lacking in its research content. Very little originality displayed in the findings.

Overall the work is marginally unsatisfactory and not well researched. No findings or originality has been displayed in the work.

Below the pass standard. Poorly researched and the work lacks any findings and originality.

Comments

Feasibility of work undertaken and results achieved.

20%

An exceptional standard of work illustrating thorough and in-depth

A high standard of work illustrating a good understanding of the

Overall a good standard piece of work but some lack of understanding of the

Some weakness in the standard of work. There are some significant misunderstandings and

Some significant errors and misunderstandings in the work. The concept does not

Some serious misunderstandings and errors. A clear

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understanding of the work undertaken. The concept is entirely feasible.

work undertaken. The concept is most feasible.

work undertaken. The concept is fair but not entirely thought through.

errors. The concept debatable and not well thought through.

demonstrate an understanding of a food and beverage business.

fail short of pass standards.

Comments

Grasp of theoretical/ conceptual and practical elements.

20%

Excellent grasp of theoretical/conceptual/ and practical elements related to the feasibility study.

Good grasp of theoretical/conceptual and practical elements related to the feasibility study.

Adequate grasp of theoretical/conceptual/ and practical elements related to the feasibility study.

Some grasp of theoretical/conceptual and practical elements related to the feasibility study.

Poor grasp of theoretical/conceptual and practical elements related to a poor feasibility study.

Major deficiencies or omissions in theoretical/ conceptual and practical elements. Not a feasibility study.

Comments

Knowledge and understanding demonstrated through workings in the appendices.

20%

Excellent supporting evidence that is appropriate in the appendices. Shows an excellent knowledge and understanding of a new food and beverage concept that is based on appropriate theory. Very logical and well structured with most elements included.

Good supporting evidence that is mostly appropriate in the appendices. Shows a good knowledge and understanding of a new food and beverage concept that is based on theory. Logical and structured with most elements included.

Most supporting evidence provided that is appropriate but with some gaps in the appendices. Shows knowledge and some understanding of a new food and beverage concept but not fully based on theory. Some structure but with elements missing.

Evidence provided but not always appropriate and with gaps in the appendices. Shows little knowledge and understanding of a new food and beverage concept and not based on theory. Very little structure with many elements missing.

Poor supplementary evidence provided, not referenced or structured within the work. Just a collection of material. Elements missing.

Supplementary evidence not provided, referenced or structured within the work. Just a collection of material. No elements

Comments

FEASIBILITY STUDY TEMPLATE This Feasibility Study Template is free for you to copy and use on your project and within your organization. We hope that you find

this template useful and welcome your comments. Public distribution of this document is only permitted from the Project

Management Docs official website at: www.ProjectManagementDocs.com

FEASIBILITY STUDY <PROJECT NAME>

COMPANY NAME STREET ADDRESS

CITY, STATE ZIP CODE

DATE

Feasibility Study Template www.ProjectManagementDocs.com

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TABLE OF CONTENTS 1. EXECUTIVE SUMMARY ……………………………………………………………………………………………. 2 2. DESCRIPTION OF PRODUCTS AND SERVICES ……………………………………………………………….. 2 3. TECHNOLOGY CONSIDERATIONS ………………………………………………………………………………. 2 4. PRODUCT/SERVICE MARKETPLACE …………………………………………………………………………… 3 5. MARKETING STRATEGY ………………………………………………………………………………………….. 4 6. ORGANIZATION AND STAFFING ………………………………………………………………………………… 4 7. SCHEDULE…………………………………………………………………………………………………………….. 5 8. FINANCIAL PROJECTIONS ………………………………………………………………………………………… 5 9. FINDINGS AND RECOMMENDATIONS …………………………………………………………………………. 6

Feasibility Study Template www.ProjectManagementDocs.com

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1. EXECUTIVE SUMMARY The executive summary provides an overview of the content contained in the feasibility study document. Many people write this section after the rest of the document is completed. This section is important in that it provides a higher level summary of the detail contained within the rest of the document. Alan’s Best Chocolates (ABC) is a leader in the sales of chocolates and confections throughout the United States. ABC’s products are sold from 50 stores throughout the country and maintain a reputation for superior taste and quality. While ABC’s sales have grown over the past 10 years, the rate of growth has slowed significantly. One key factor for this slowing growth rate is the shift in the marketplace to purchasing chocolates and confections online. While ABC maintains a web site, it is not capable of hosting an e- commerce platform for online sales. ABC’s sales occur only in its brick and mortar facilities and the company is losing potential customers to competitors who provide online sales. The chocolate and confections marketplace is healthy and shows a continued growth trajectory over the next five to ten years. ABC is in a position to capitalize on this online marketplace by leveraging existing technologies, industry best practices, and an aggressive marketing and sales campaign to ramp up the company’s growth projections for the foreseeable future.

2. DESCRIPTION OF PRODUCTS AND SERVICES This section provides a high level description of the products and/or services which are being considered as past of the feasibility study. The purpose of this section is to provide detailed descriptions of exactly what the organization is considering so this information can be applied to the following sections of the document. It is important that this description captures the most important aspects of the products and/or services that the organization is considering as well as how it may benefit customers and the organization. ABC is considering a move to create and provide an online platform from which to sell its existing product line. Until now ABC has only sold its products from its chain of brick and mortar facilities and has been limited to sales within the geographical regions where its stores reside. By doing so, ABC has not been able to capitalize on the growing trend of online sales within the chocolate and confections marketplace. By offering its products through an online platform, ABC can market its products to an entirely new market, increase revenue and growth projections, and allow customers to purchase our products from the convenience of their own homes. There are no proposed changes to ABC’s current product offerings as a result of this study. Online sales will include only current products and any changes to this product line must be considered outside of the purpose of this document.

3. TECHNOLOGY CONSIDERATIONS This section should explain any considerations the organization must make with regards to technology. Many new initiatives rely on technology to manage or monitor various business functions. New technology may be developed internally or contracted through a service provider and always result in costs which must be weighed in determining the path forward.

Feasibility Study Template www.ProjectManagementDocs.com

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Upgraded technological capability will be required for ABC to move toward offering an online marketplace from which customers may purchase our products. Customers demand a simple and easy way by which to conduct online transactions and it is imperative that all transactions are conducted in a secure manner. While ABC maintains a web site with product lists and descriptions, it does not currently allow for purchasing to be done online. This functionality must be integrated with our current web site to allow for secure purchases to be made. Additionally, new online marketing functionality must be considered in order to target existing and potential customers through methods such as e-mailing lists, promotional advertisements, and loyalty discounts. While ABC maintains a small information technology (IT) group, the expertise does not currently exist internally to design, build, and implement the sort of extensive online platform required for this effort. Therefore, the recommendation is to contract this work out to an internet marketplace provider who can work with ABC to meet its needs within the determined timeframe and budget. It should be noted that while ABC does not have this expertise internally, the technology exists and is in use throughout the marketplace which lowers the risk of this concept considerably. ABC currently maintains a high speed internet connection, web server, and the latest software. With the addition of an e-commerce portal it is expected that there will be an overall cost increase of 5-10% for web server operations and maintenance costs.

4. PRODUCT/SERVICE MARKETPLACE This section describes the existing marketplace for the products and/or services the organization is considering. It may describe who the target market consists of for these products or services, who the competitors are, how products will be distributed, and why customers might choose to buy our products/services. Most marketplaces are dynamic environments in which things change constantly. To enter a new marketplace blindly will usually result in an organization not fully understanding its role and not maximizing its resulting benefits.

The online marketplace for chocolates and confections has been thriving for many years. In FY20xx online chocolate sales accounted for approximately $20 million or 20% of total chocolate sales worldwide. While chocolates and confections are available in almost every store, our primary marketplace consists of specialty chocolates and confections. All of ABC’s current major competitors already have an established online presence of at least 3-5 years. The top 3 competitors are currently: Smith’s Chocolates, Worldwide Candy, and Chocolate International. A large majority of ABC’s customer base are returning customers and referrals from existing customers. By providing a more convenient means of purchasing our products online it is expected that we will retain these customers while conducting an online marketing campaign for new customers as well. ABC will distribute online purchases via direct shipping from the nearest store location. This will allow ABC to provide timely shipping and eliminate the need for a central warehouse or

Feasibility Study Template www.ProjectManagementDocs.com

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facility from which to store and ship its products. Such a facility would require a significant capital investment as well as increased operation and maintenance costs. However, based on anticipated growth projections, ABC must ensure that all store locations maintain adequate inventories on hand to satisfy customer demand.

5. MARKETING STRATEGY This section provides a high level description of how the organization will market its product or service. Some topics which should be included are: how does an organization differentiate itself from its competitors; types of marketing the organization will utilize; and who the organization will target. Marketing efforts must be focused on the right target groups in order to yield the greatest return on investment. In order to be successful, ABC must differentiate itself from competitors in order to appeal to customers in the online marketplace. To do this, ABC will utilize its practice of personalizing its product packaging which it currently offers in-store customers. Current competitors do not currently provide any personalization of packaging. Customers will have the ability to personalize messages on or inside of product packaging, request specific color- based themes, or tailor packaging for special occasions or events. ABC will implement a customer e mailing list in order to send product promotions, sales advertisements, and other special offerings to customers who register. Additionally, ABC will offer referral incentives to customers who refer our products to friends and family in order to provide additional incentives. ABC will also maintain a customer database in order to determine its target customer groups and geographical regions. ABC will research marketing intelligence providers to determine the benefits and costs of purchasing customer information for bulk email campaigns as well. Another important consideration of ABC’s online marketing strategy is cost. Electronic marketing communication costs are very small in comparison to direct mail marketing which ABC currently utilizes. However, we expect the additional revenue from online sales to greatly outweigh these additional electronic marketing costs. It is important to note that ABC’s current marketing and sales staff will require training in online marketing and sales practices. This training will need to be contracted to a training provider as part of our startup costs and schedule.

6. ORGANIZATION AND STAFFING With many new products or services there may be a need for additional staffing or for an organization to restructure in order to accommodate the change. These are important considerations as they may result in increased costs or require an organization to change its practices and processes. The ABC online sales campaign is not anticipated to significantly affect the organizational structure of the company. There are, however, several staffing additions required to successfully implement the online sales campaign. All of these positions will work within existing departments and report to department managers.

Feasibility Study Template www.ProjectManagementDocs.com

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Staffing Position #1: Online Sales Manager – this full time position will lead sales staff in identifying sales opportunities and converting these opportunities to actual sales. This person will report to ABC’s Director of Sales and will work in ABC headquarters. Staffing Position #2: Online Marketing Manager – this full time position will lead marketing staff in identifying target customer groups/markets and conducting online advertising/marketing efforts to maximize traffic to ABCs online marketplace. This person will report to ABC&#x2

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