Business Plan Assignment( need in 6 hours)

edit the yellow section & see if it needs any adjustments to marketing strategies for our business.
Also finish the green section which is about the Team. Our team has 4 girls. 3 are business majors and the other one is not. We need to make the biographies as realistic as possible. we are all regular college students trying to come up with a social enterprise.

Essentially finish the green section of the plan. 

STARTING POINT – SOCIAL VENTURE DESCRIPTION

I. ​Name of the social venture​ – What is the name of the social venture?
II. ​Social Problem​ – What is the social problem that your social venture will
work on? Please describe it in this section.
– Homelessness
III. ​Social Impact​ – What is the social impact that your social venture will
have on the problem? Please describe it in this section.
IV. ​Social Innovation​ – Why is this approach innovative? Please describe
the social innovation here.

– Format (building for living and food processing + food trucks), mobile food
service

Key data:

1. Number of employees: 10 (first year)
2. Number of food trucks: 2
3.

Outline

I. Business Plan Executive Summary

1. Description of product (section II)
2. Purpose: In bringing convenient food option and reduce unemployment and homeless

rate in New Brunswick, NJ neighborhood (Middlesex County)
3. Target market: working class, students; homeless people as workers
4. Competitions: grab and go restaurants, healthy option restaurants in the area;

ex. Burger king, Chipotles, Moes, Wendys, Playa Bowl
5. Mission: Introduce nutritious meals to the neighborhood and improve citizens eating

habit while offer employment opportunities for homeless people
6. Vision: Everyone desires to have a better and organized lifestyle
7. Team: CEO: Yutian Xu, initialed this social enterprise in desire to solve social problems

and improve living conditions for these people in need
8. Financial stability: operating as a restaurant base and sell bentos around the area with

our food trucks, money will come from selling bentos
​ II. Description of the Social Enterprise/Social Purpose Business

a. Company/Enterprise Overview
A for-profit start up business located in New Brunswick, NJ, selling healthy and convenient
meals wanting to reduce employment rate with job openings in the neighborhood. We are
offering healthy meals to people, especially working class people and students, to make sure
they obtain the day-to-day nutritions that they need. Additionally, we will be hiring homeless
people as our workers, as a way to reduce unemployment in the neighborhood and improve
their lifestyles to offer a job and provide a safe place to stay to improve their overall lifestyle.

b. Product/Service/Program Overview
7 Bentos offer healthy and nutritious meals to all people with limited time to prepare for their
meals and encourage improvement of dietary options to reduce potential obesity rate. As we are
providing healthy food choices in the neighborhood, we would also help with the employment
rate by hiring homeless people to improve their living conditions. Additionally, with the profit we
get after break-even, we will donate 10% in the nearby organizations in improving homeless
shelters and their lives

c. ​Description of Social impact & Innovation
​ i. Factors giving rise to social opportunity

1. Employment
2. Empathy
3. Profits and poverty

​ ii. Description of the Social impact
1. Reduce the amount of homeless people in the area by offering a job to them
2. Help them transition to a regular and organized lifestyle
3. Decrease in unemployment rates in the neighborhood
4. Increase public social awareness

​ iii. Description of the Social Innovation
1. Homelessness: we want to offer food and a place stay for these homeless people, and

they are able to work to achieve a better lifestyle
2. Dietary: offer convenient healthy and nutritious food for working class people when they

often lack the time to purchase a nutritious meal or to make their own meal
iv. Indicators of social impact (measurement)

1. The amount of homeless people we have employed
2. The transition of workers lifestyle after employment

​III. Business/Operational Model and Sources of revenue

1. Daily bento sales:
Supplier (get ingredients everyday in the morning) – Food Processing (in the first floor
kitchen) – Send out trucks loaded with products to selling spots – deliver products to
customers

2. One-time catering services:
Customer who needs our catering services book in advance – we make food and send
out trucks to their parties – get paid

3. Long-term contracts with local dining halls:
Local dining halls of schools or company sign contracts with us and pay in advance –
they come to get food on the dates we settled

IV. The Market and Industry

a. Demonstration of market need
1. For Homeless People:
– Key external drivers: Federal funding for social services, National unemployment rate,

poverty rate, per capita disposable income
– In 2020, the unemployment rate is expected to skyrocket as a result of the COVID-19

(coronavirus) outbreak. The federal government has approved measures to increase
unemployment benefits and provide individuals with stimulus checks, while state
governments have put holds on evictions. As a result, in 2020, industry revenue is
expected to increase an estimated 20.0%.

2. For customers:
– A need for healthy, nutrition-balanced, convenient food

b. Customer/Client/Community Base
– Homeless people for housing
– Restaurant: Office workers, college students, local residents, the home occupants, blue

collar workers, employees, local school or office building dining hall
c. Market Size and Social Trends

– Community housing services (Transitional and assisted housing for low-income
individuals and families)

– The Community Housing and Homeless Shelters industry is composed primarily by small
establishments that service a particular local community. Therefore, the industry is
classified as having a low level of concentration.
d. Target addressable market and projections

– Target addressable market:
Homeless group: 430 households, including 620 individuals (as of 1/22/2019)

– Projection: we projected to achieve ​5%​ in the first year
V. Marketing and Fundraising

– Although funding for this industry is largely controlled by the US Department of Housing
and Urban Development, the actual dissemination of community housing services is
controlled by local housing authorities and locally based small organizations.

– We will not be a non-profit organization, instead we will be a B-corporation
– We will be investing our funds, but we will also accept funding from government

agencies
a. Value Proposition

– Fresh, nutrition-balanced, convenient food for customers and the home residents
– Clean and warm home for the homeless people

b. Target Market
– Customers who will buy Bentos boxes; specifically working class people and students
– Homeless people who we are trying to help (we’ll target veterans, chronically homeless,

homeless people with mental health issues, homeless youth)
c. Partnerships and Fundraising Strategy

– Partnership: Team members
– Fundraising: Equity from business partners, angel investors

d. Competition and Competitive Advantage
– The level of competition in the shelter service industry is currently Low and Steady.

This industry is made up of a large number of small organizations that provide temporary
shelter and other community housing services

– The level of competition in the food industry is high.
– Competitive advantage: unique product offerings, operation model (building+trucks),

social mission
e. Overall marketing and selling strategy (both to funders and to communities)

Build a strong social media, create a website, word-of-mouth, flyers/brochures, internet
advertisements

​VI. The Team

a. Organization (Chart)

b. Key Management Personnel (biographies, esp. key relevant
accomplishments)
c. Ownership and Accountability
d. Board of Directors and other advisors

VII. Operations
a. Description of the operational model (adapt to your type of businesses or
enterprise)
b. Performance and Social Impact Measurement

i. Indicators and Targets
ii. Feedback Loop

VIII. The Financial Sustainability Plan

a. Key Assumptions

1. Sales projections: in the first month, capture 20% of the target customers aged 18-34 in
the target market.
In the first half year, sales would be continually increasing, then keep steady in the next
following years.

2. Cost of Good Sold assumption:
(in % of sales) cost of ingredients – 37.6%, cost of package – 3.22%

3. Labor costs:
(since we provide houses and meals for employees, we still need to pay them or not?)
Possible option 1:

Meal cost for employees per year: 3 meals/day * average cost/meal * num of employee *
365d
= 3 times * $4/meal * 10 * 365d = $43,800/yr
Possible option 2:
NO LABOR COSTS,
Only meal costs

4. Operating expenses:
Building Rent: ??????
Insurance: $1200/yr for food truck, $192/mon * 12mon * 10 =

Permits: $400/yr
Parking: $1200/yr
Fuel expenses: $12,000/yr
Marketing expenses: $6,000/yr????
Maintenance: $3,000/yr
Miscellaneous expenses: $12,000/yr

b. Start-up funds

i. Use of Proceeds
Housing: House rent, decoration and furnishing …
Kitchen: Startup inventory, …
Food truck: truck purchase, insurance, …

Staff: insurance, training, …
c. 3 -5 years of projections

i. Income Projection
ii. Cash Flow Projection

IX. Supporting Documents
Homelessness in NJ: ​https://www.usich.gov/homelessness-statistics/nj/​,
https://www.nj211.org/homeless-new-jersey

Homeless population in Middlesex county, NJ:
https://monarchhousing.org/wp-content/uploads/njcounts2019/Middlesex%20PIT%20Report%2
02019
https://www.census.gov/quickfacts/middlesexcountynewjersey

https://www.usich.gov/homelessness-statistics/nj/

https://www.nj211.org/homeless-new-jersey

https://monarchhousing.org/wp-content/uploads/njcounts2019/Middlesex%20PIT%20Report%202019

https://monarchhousing.org/wp-content/uploads/njcounts2019/Middlesex%20PIT%20Report%202019

https://www.census.gov/quickfacts/middlesexcountynewjersey