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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-
