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Singapore-based Restaurant-Bar seeking S$500,000 for its expansion plan

Singapore-based Restaurant-Bar seeking S$500,000 for its expansion plan

COMPANY INFORMATION

BlueSpoon Food Solutions is a new division of a Singapore Incorporated Limited Liability company : Ulu Ulu Café Lounge Pte Ltd. The company has been operating a restaurant-bar since Sept 2011 and will be on-going to complement this expansion plan. The Financial Reports, Business Registry Documents and other relevant information for Ulu Ulu Café Lounge Pte Ltd are attached separately.

As part of a strategic plan, they are actively seeking investors or debt financing in an endeavor to expand into a food manufacturing business through a central kitchen strategy.

For the immediate product launches:-

On the B2B front: Commercial kitchens are facing high cost of operations. We believe that F&B owners would appreciate our product list – both pre-mix and ready-to-heat, as they can minimize their production operations and can focus on service quality.

On the End-User/Retail front: Using a mobile app and an E-commerce website, we will provide home/office deliveries of ready-to-heat, ready-to-cook list of food products. We will also have a mini-retail at our Central Kitchen for walk-ins purchases.

MANAGEMENT TEAM

My partner, Dillon, and I, have over 30 years of F&B experiences and know-hows. Since the Singapore’s law do not allow wholesaling and catering of food without a central kitchen, this expansion is deemed a natural evolution for additional revenue streams.

EXECUTIVE SUMMARY

Our new division – Bluespoon Food Solutions – is determined to stand apart from the current pool of local food manufacturers by introducing hassle-free, quality, time-saving and delicious food products to our group of target markets.

We aim tomarry the demand of small cafes, snack bars and restaurants that has no or little kitchen space and the understanding of restaurants’ requirements for a readymade food product to minimize their own kitchen operations, especially so the supply of quality value-for-money chefs. Our commercial customers can in turn focus on service quality.

We strongly believe that any kitchen – home or commercial – would appreciate a variety of quality products which are already marinated and cooked such as our signature Grilled Boneless Chicken Chop, Slow Roast Chicken, Chicken Curry as well as an assortment of Stews, Pasta Sauces, Pies and Gravy – all vacuum packed, labeled and delivered frozen or chilled – and ready-to-heat.

There has been an evolution in how households satisfy their kitchen needs, in line with the ever changing and fast paced lifestyle amongst Singaporean and Expatriates alike. We judge that a one stop shopping hub for quality frozen gourmet food to stock up their freezers to impress their dinner guests or as their daily “tv-dinners” would be very much welcomed.

OUR BUSINESS MODELS:

Setting up a production facility to provide readymade food supplies to F&B outlets, Hotels, Catering Companies, specialty grocery stores and private households.

Setting up an E-commerce website where customers can order online with delivery service.
To also include a subscription based “Meal-in-a-Box” / “Cook-at-Home” e-commerce concept – deemed to be the first of its kind in Singapore – where we will provide all the ingredients in a box with instructions on how to cook the particular dish.

A “retail outlet” at our central kitchen to allow customers to purchase over the counter, offering a spread including seafood, meat, sauces; assortment of finger food, local delights etc consisting both of our in-house items and re-seller products.

PROPOSAL | BUSINESS PLAN

The company shall operate a 3,500 – 4,000 sqft central kitchen complimented with a mini-retail-showroom. Rental is budgeted at $11,000 per month for a 3 years lease minimum with an option for renewal. Purchasing of 1 commercial van and 1 refrigerated truck would ensure a smooth and efficient daily logistics operation for the initial start-up. We are seeking $500,000 capital funds from a potential Angel Investor and/or Debt Financing – to be injected in 2 tranches – at Mth 1: S$360,000 and at Mth 6 of operations: S$140,000. Full financial planning spreadsheets are presented herein.

We shall strive to maintain a positive cash flow with strict control over operating costs and food wastage. This is targeted at providing sufficient revenue to satisfy any investment/debt repayment (as part of the monthly fixed cost) and to finance further growth and expansion.

With an average monthly fixed cost budgeted at $32,600 in Year 1 and an average contribution margin ranging from 55% to 67%; break-even sales is $48,900 per month. We plan to cross over the break-even point for our local target market early in Year 2 of operation.

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