Download - Noodles & Company Final Presentation
![Page 1: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/1.jpg)
Team TwoDevin Sauer, Emily Steelman, Kayla Vankirk, Xinyao Wang, Zhouyang Lin, & London Graves
![Page 2: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/2.jpg)
Executive Summary
Many forces are going to play a role in how our franchise will do business.
Each force will play its part and it is our role to plan ahead. Business
plan includes:
Mission and vision statements
Environmental analysis of the area
Products and services
Market analysis of the area
Management team and HR needed
Day-To-Day operating strategies
Projected financial plan
Funds required and used to start
Critical risks
![Page 3: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/3.jpg)
Mission and Vision Statements
Vision Statement
To create memories one bowl at a time
Mission Statement
To provide a warm and inviting place for everyone to gather and
eat as one, with noodles from around the world, right in the
heart of Norman, Ok.
![Page 4: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/4.jpg)
Products and Services
● Noodles & Company offers international and American
noodle dishes, as well as soups, salads, & sandwiches
● Most dishes are vegetarian but also have option of adding
tofu, chicken,shrimp, or beef
● Flat bread desserts-rice krispies treats
● Order at the counter and served at your table
● Follows trends: introduced noodle-less entrees due to low
carb diet trend, added a gluten free fusilli , whole grain
Tuscan fettuccine
● Also offers vegan options
![Page 5: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/5.jpg)
Products and Services
● Key expectations of franchiser:
o Proper training, limited complaints
o Food up to corporations standards
o Follows culture outlined in franchise agreement
o No fryers or microwaves in kitchens
o Dishes are cooked to order
o No tipping is required
![Page 6: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/6.jpg)
Environmental Analysis
Five Forces for the Restaurant Industry, 2014
![Page 7: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/7.jpg)
PESTEL- Political
Tax Policy:
● Sales Tax Rate:8.25%
● Social Security Tax: 6.2%
● Medicare Tax:1.45 .
● Income Taxes: 6%
● Oklahoma Use Tax: 4.5% levy on the purchase price of tangible
personal property, including pre-paid transportation, purchased
outside Oklahoma and stored, used, or otherwise consumed within
the state. (Commission)
Stability of government: Stable
![Page 8: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/8.jpg)
PESTEL- Economic
● Interest Rates: 4.0% according to bankrate.com
● Unemployment Rates: 3.7%
● Median Household Income: $48,248
● General State of Economy: Healthy
![Page 9: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/9.jpg)
PESTEL- Social
Size: 118,197
Age:
● Under 15: 16.6%
● Age 15 to 24: 25.1%
● Age 25 to 44: 25.2%
● Age 45 to 64: 22.1%
● Age 65 and Over: 10.3%
Ethnicity:
● White: 90,583 81.1%
● American Indian and Alaska Native:
4,238 3.8%
● Black: 4,530 4.1%
● Asian: 3,796 3.4%
● Native Hawaiian and Other Pacific
Islander: 179 0.2%
● Two or More Races: 7,239 6.5%
● Other: 1,188 1.1%
● Hispanic or Latino: 5,995 5.4%
(Census)
![Page 10: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/10.jpg)
PESTEL- Technological
Computerized technologies
located at tables, front counter,
and in kitchen.
![Page 11: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/11.jpg)
PESTEL- Environmental
Natural Disasters include:
tornadoes, flooding, and high
winds
![Page 12: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/12.jpg)
PESTEL- Legal
Health and Safety Law: A safe work environment is critical to providing excellent service and
a workplace that values the health of employees.
● We conduct safety inspections of City operations to ensure compliance with
Occupational Safety and Health Administration (OSHA) standards and to identify unsafe
work conditions and practices.
● We provide safety training to prevent employee injuries and property damage. Training
programs include hazard communication, fall protection, confined workspace, traffic
barricading and proper use of personal protective equipment, etc. We also provide
consultative services to assist City operations with safety-related problems. This includes
regulation interpretation, work practice review, accident trend analysis, loss prevention
recommendations, etc.
● We investigate vehicle and equipment accidents to determine cause and responsibility,
and make recommendations for corrective actions.(McLendon)
![Page 13: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/13.jpg)
Location
University Town Center, 1400 24th Ave NW, Norman, OK.
Booming area
High traffic flow
Major super markets
Sufficient parking space
![Page 14: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/14.jpg)
Target Market
● White-Collar workers from different cultural
backgrounds.
● With high educations
● Norman Population: 118,197 (Norman Census
Quick Fact)
● 92% high school graduate
● 43.5% bachelor’s degree
● Roughly 51,415
![Page 15: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/15.jpg)
Competition
● Moderate
● Seven other noodle restaurants
● Major Competitor: Pei Wei
![Page 16: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/16.jpg)
Estimated Market
● Accomodation and food services sales in Norman
2007: $281,624,000
● Average net sales per restaurant per year:
$1,120,097 (FDD)
● 0.4%
● sales of 140,000 bowls of noodles per year.
![Page 17: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/17.jpg)
Management Team and Human Resources
- All 6 of our team members are in management
positions.
- There are 7 job rankings and we will be hiring for
the lowest 2 levels.
- Pay will depend on position and experience
- No experience required for lower levels, because
we will train them the “Noodles” way.
![Page 18: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/18.jpg)
Management Team and Human Resources
Job Rankings
within our
franchise
![Page 19: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/19.jpg)
Management Team and Human Resources
Position Team Member
Area Manager Devin Sauer
Market Training Manager Emily Steelman
General Manager Kayla Vankirk
Assistant Manager Xinyao Wang
Shift Manager Zhouyang Lin
Shift Manager London Graves
Our team members will hold the following positions:
![Page 20: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/20.jpg)
Management Team and Human Resources
Who are we hiring?
● Positions of Team Member and Journey Leader
● Mostly OU Students that will work part time● Part time will reduce our payroll, because we will not have to
provide benefits.
![Page 21: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/21.jpg)
Personnel
● Online hiring page contains all information of
available positions and we will accept applications
through this page.
● The general manager and the assistant manager
will be the management team that is in charge of
all hiring of personnel.
![Page 22: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/22.jpg)
Management Team and Human Resources
Wages and Salaries
Position Wages
Team Members $9/hour
Journey Leaders $10.50/hour
Shift Manager $22,500/ Year
Assistant Manager $36,000/ Year
General Manager $42,000/Year
Market Training Manager $58,000/ Year
Area Manager $71,500/Year
![Page 23: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/23.jpg)
Day-To-Day Operation
Market Promotion:
Stick with Franchisor’s policy
“Grand Opening Marketing Program” 1.25% of net royalty sales on local promotion
advertising media, marketing of coupons, public
relations to create goodwill.
![Page 24: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/24.jpg)
Day-To-Day Operation
Production: “Real Food With Real
Ingredients” (Noodles &
Company)
Products from different
places
General Manager and Shift
Managers handles administrative
issues.
Teams members with accounting
experiences manage
bookkeeping
![Page 25: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/25.jpg)
Key Financial Information
● Sources of information:o 2010 Census data for Cleveland County & Norman
o Noodles&Co’s FY 2014 10K
o Noodles&Co franchisor agreement
o IBISWorld industry averages
● Will have a few months in the first year with negative cash
flows, but will still operate at a profit
![Page 26: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/26.jpg)
Funding Required and Used
Total funding required: $743,667
● Startup Expenses: $82,000
● Startup Asset: $661,167Total Liabilities: $443,667
Total Planned Investment: $300,000
Total Equity and Liabilities: $661,667
![Page 27: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/27.jpg)
Critical Risks
- Supplier cuts or delays food ingredients
- Natural disaster hits Norman, OK
- Construction in the area
- Fluctuations of customers
- Technology Issues
- Competition
- Changes in tax or employment regulations - if
minimum wage increases
- Food Safety law- chance of food poisoning
- Fluctuations in employment
![Page 28: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/28.jpg)
Conclusion
We will locate at University Town Center
We offer international and American flavors
We sell 140,000 bowls per year We have all 6 members in management position
We gather information from all over the place
We are going to win over the market!
![Page 29: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/29.jpg)
Questions about Noodles?
![Page 30: Noodles & Company Final Presentation](https://reader034.vdocuments.net/reader034/viewer/2022042707/58ed78b21a28ab63128b4633/html5/thumbnails/30.jpg)
References
Bplans Blog. How Limitied Liability Companies(LLCS) are taxed. 13 December 2007. Website. 23 June 2015. <http://articles.bplans.com/how-limited-liability-companies-
llcs-are-taxed/>.
Commission, Oklahoma Tax. Oklahoma Business Tax Information. 08 08 2014. Web. 16 06 2015. <<http://www.ok.gov/tax/Businesses/Tax_Types/>>.
Federal Census. City of Norman Comprehensive Plan Norman. 2010. Website. <http://www.ci.norman.ok.us/content/demographics>.
MarketLine. Forces Driving Competition in Restaurants Industry in the United States. 08 April 2015. Website. 16 June 2015.
<http://advantage.marketline.com/Product?pid=MLIP1590-0025&view=d0e500>.
McLendon, Brandon. City of Norman-HR Safety. 2015. Web. <http://www.ci.norman.ok.us/hr/hr-safety>.
Noodles & Company. Estimated Initial Investment. n.d. Website. 23 June 2015. <http://www.noodles.com/about/noodlesfranchisepacket.pdf>.
Noodles & Company-Franchise Disclosure Document Exchange. n.d. website. 23 June 2015. <http://fddexchange.com/view-fdd-docs/noodles-company/>.
Noodles & Company-Restaurant Site Criteria. n.d. Website. 23 June 2015. <http://www.noodles.com/about/noodlesfranchisepacket.pdf>.
Pei Wei. Who We Are. n.d. WEbsite. 23 June 2015. <http://www.peiwei.com/info/who-we-are>.
The Henry J. Kaiser Family Foundation. Workers by Occupational Category. 2013. Website. 23 June 2015. <http://kff.org/other/state-indicator/blue-and-white-collar-
workers/>.
United States Census Bureau. 2013. 23 June 2015. <http://quickfacts.census.gov/qfd/states/40/4052500.html>.