F I S H O P

Business Plan | Shaoxia Lin

FISHOP — Fresh Seafood Experience In Food Truck

WHAT Fish Dumplings - the unique traditional cuisine from Shandong, China

HOW Use food truck to offer fast flavorful fish dumplings that prepared from fresh local ingredients

WHO Millennial foodies

WHERE Multiple spots in Manhattan: Columbia University; NYU; Financial District

Right now we are seeking working capitals in the amount of $400,000

Comparing To Other Products With ‘Fish’ Concept: FISHOP Offers The Affordable And Accessible Meals Made With Fresh Fishes.

• A Chinese restaurant located in Flushing, New York

• Offers Fish/Pork/Chicken dumplings($10), frozen dumplings($25) and other Chinese dishes

• Mainly targets Chinese community in Flushing

High-end products like Sushi • Ingredients are fresh. • Food has high quality.

• No sushi/sashimi served in food truck

• High-end image associated with high price

Fish and Chips • Available in the streets • Less expensive

• Unhealthy cooking methods • Ingredients don’t require

freshness that much

Fish Dumplings

The First In The Food Truck Category; Millennials Crave For Healthy Option, New Ethnic Flavors And Freshness.

First

of respondents like to experience new flavors

72%

Top three cuisines that respondents express the most interest in seeing more

spot selling fish dumplings in Manhattan

27% 91%

of millennials claim “freshness” as the strongest enticement for trying new menu items

Italian(63%)

Chinese(56%)

Mexican(50%)

more millennial respondents said they seek out healthier options in food trucks than in 2012

*Mintel Report: Food Trucks, US, September 2013 Base: 541 total 18+, 239 total millennials

*Mintel Report: Innovation on the menu, US, October 2015

Base: 1,904 internet users,18+

Foodie Millennials In Manhattan: Love Trying New Ethnic Flavors And Are Health Conscious.

Demographic • 18 - 34 • Students and young professionals • Location: near Columbia

University, NYU, and Financial District

Psychographic • Drive interest in emerging

concepts; • Fan of food trucks • Trying new ethnic foods is an

exciting experience for them; • Value authenticity, high-quality

ingredients • Seek food that is fresh, nutritious

and affordable. • Social media savvy.

*The Dynamic Population of Manhattan, 2012

*Enrollment by school, gender and degree level, Fall 2013.

www.columbia.edu

Market Size • 25,000 students

in Columbia University

• 70,000 daily commuters and residents in Downtown Manhattan and FiDi

Assumption: 60,000

Competitors Of FISHOP They Address Similar Needs Of Customers: A Fast, Convenient Meal For Lunch

Industry Overview Food truck’s competitive context include:

Kiosks and carts Chain Limited service restaurants

Have offerings similar to food trucks at a lower price

Share the same areas; Have similar customers

Other Food Trucks

Offer fast service with good food quality

Grocery and Convenience Store Pop-up RestaurantsDelivery

*Mintel Report: Food Trucks, US, September 2013

FISHOP Will Stand Out With Heathy And Gourmet Image

Gourmet

Fast Food

Low Health Conscious

Health Conscious

Competitors near FISHOP’s locations

Average Order Size Is Higher Than Mobile Vendors And Less Than LSRs

$7 $9 $12 $14$10

To millennial foodies who love to try new things and embrace a healthier lifestyle

Is the first food truck that delivers the new concept of seafood products with great quality

Because it offers distinctly upscale fresh seafood at an affordable price; it is healthier than normally offered meat dumplings from other places; it is very accessible due to its mobility,

So that you can have an ideal meal during your busy routine without all the fuss and concern from other places.

F I S H O P

Fresh Seafood Experience In Food Truck

The Menu Is Built Around Fish Dumplings. Fresh Dumpling Sales Will Be The Priority.

Fresh Frozen

Offer food truck customers frozen dumplings to take home $15 for 12 pieces

Catering

Provide limited service catering (Just pickup or delivery) for school club events, office lunches, casual dinners, and etc.

Keep Long-term Relationships With Reputable Partners That Offer Fresh Ingredients.

• Carry almost no frozen products • Meet the need of top-quality

freshness • Offer free fillet service • Concern about sustainable seafood

• Offer farm-fresh products • The majority of the products at the

Wholesale Greenmarket are harvested less than 24 hours before being sold.

Suppliers (both offer delivery service)

Fish: Wild Edibles Wholesale Seafood Market

Groceries: Wholesale Green Market

Regular Day Working Hours: 15.75+

1 2 : 0 0 P M

1 1 : 2 0 A M

1 1 : 0 0 A M

1 0 : 1 5 A M

0 6 : 1 5 A M

0 5 : 0 0 A M

(45 min)

(4 hr)

(45 min)

(20 min)

(40 min)

Get supplies

Prepare food / Drive food truck to kitchen

Load truck

Drive to site

Set up to start

1 2 : 0 0 P M

2 0 : 4 5 A M

1 9 : 1 5 P M

1 9 : 0 0 P M

(7 hr)

(15 min)

(1.5 hr)

Serving time

Drive to commissary

Clean truck and dishes

Reason of long time preparation We handmade fish dumplings everyday to make sure the freshness.

Weekly Food Truck Schedule: 12 pm - 7 pm

Ensure The Presence In 3 Key Mllnnls Gathering Spots.

Columbia University:

NYU

Financial District

Mon Tue Wed Thu Fri Sat Sun

CU CU CUNYU NYUFiDi FiDi

Choose Appropriate Facilities To Ensure The Efficiency Of The Operation.

Commercial Kitchen Hot Bread Kitchen: 1590 Park Ave, East Harlem

Commissary (for parking and cleaning the truck) NYC Licensed Commissary: 261 E 134TH ST, Bronx

• Spacious kitchen with 24/7 access • Full suite of professional kitchen

equipment • Dedicated dry, refrigerated and

freezer storage

Close to the major operating spot Columbia University

CEO/CMO/CFO Shaoxia Lin

Social Media Intern

Chief Shuyu Liu

COO Youhan Wang

Cook/ Assistant 1

Cook/ Assistant 2

Cook/ Server 3

Cook/ Server 4

Team 1 to prepare food (Kitchen)

Team 2 to drive food truck and serve food (Food truck)

• MS in Marketing from NYU / BS in Finance • 3 years of Marketing experiences • Passionate about food and cooking • Live in Manhattan: knows the areas

• A master of fish dumplings with the secret recipe that is famous among her family’s friends, relatives and co-workers • MS in Computer

Science from CU • 2 year of website

design experience • Cooperate and

communicate effectively when build client relationships

Have A Team Of Experts With Skills And Passion In Food

Food Truck Sales • Average Order Size: $10 • 28 days/month • 20 orders an hour, 140 orders

per day. (Full capacity); • 25% lower traffic in

winter(December and January) • Daily order number monthly

growth rate: Year 1: 7%; Year 2: 1.3%; Year 3: 1%

• Average Daily Order Numbers

Frozen Dumpling Sales • Unit price: $15 • % of food truck

sales : Year 1: 2%; Year 2: 5%; Year 3: 7%

Catering Sales • January, February and

May are the related holiday and graduation season. There could be more student catering events.

• Monthly Growth Rate Year 1: 20%

Year 2: 16% Year 3: 12%

• Average Monthly Catering Size:

Make Conservative Assumptions About The Order Numbers And The Growth Rates.

Year 1 243

Year 2 1,026

Year 3 3,607

Year 1 73

Year 2 106

Year 3 120

Revenue 3 year forecast Year 1 Year 2 Year 3Total Food Truck Order Numbers 24,444 35,476 40,320Total Cateting Size 1,479 6,280 22,010

Food Truck Sales $244,440 $354,760 $403,200Frozen Dumpling Sales $7,333 $23,946 $36,288Catering Sales $14,790 $62,800 $221,010Total Revenue $266,563 $441,506 $660,498

P & L

Break Even Point

Year 3, the 5th Month

Year 1 Year 2 Year 3

Revenue $266,563 $441,506 $660,498

COGs $85,300 $141,282 $211,359

Gross Margin 68% 68% 68%

Operating Expenses $411,785 $416,625 $422,433

Net Profit -$220,522 -$116,401 $26,705

Revenues Primarily From Food Truck Sales.

Business Objectives • 73 orders a day in first year with

7% monthly growth rate • $266,563 revenue

FISHOP — Fresh Seafood Experience In Food Truck

Year 1 Marketing Budget • $24,200 • 9% of the revenue; • Budget allocation:

Marketing Objectives • Create awareness among 40% of

the target market. • 24,000 customers

• Acquire 5% customers of the target market • 3,000 customers

Food Truck, $5,000, 21%

Digital, $6,000, 25%

Yelp Advertising, $3,600, 15%

Sampling, $1,800, 7%

Coupon, $1,800, 7%

Food Festivals, $6,000, 25%

Tactics • Apply to be a Vendy Plaza

vendor • Every Sunday 12pm -6pm

from May to September

Objectives • Spread the words and

widen the audience • Test the product and the

market

Cost • Application and booth fee:

$6,000

Start With A Soft Launch To Test The Market And Spread The Word.

Tactics • Design the truck as a moving billboard • Have a strong digital presence: Website and

SEO, Food Blog, Social Media • Claim business and advertise on Yelp and

apply to get Zagat rated

Objectives • Increase awareness, build fan base and

engage with customers • Add credibility

Cost • Food truck decor: $5,000, • Digital(Domain, SEO,Social Media) :$6,000/

year • Yelp Advertising: $3,600/year

Keep Building The Brand And Increase Awareness.

Grow The Business By Promoting Supplementary Services.

Tactics • Give complimentary tastings to NYU/CU

clubs to build partnerships • Use digital coupons to promote frozen

dumplings

Objectives • To acquire more catering requests • Increase awareness of the food truck and

frozen dumplings

Cost • Sampling: $1,800/year • Coupon cost: $1,800

Potential clubs to partner with:

And hundreds of other clubs…

NYU

CU

Dive into the fresh seafood experience

T H A N K Y O U

F I S H O P

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