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Mission
Purveyors of Delicious Turkish Ice Cream
INTRODUCTION
The national refreshment concession in Turkey is a unique
ice cream with a stretchy consistency that is dispensed by vendors on
street corners throughout the country. Originally developed at the turn
of the century, this ice cream is made by mixing boiled milk and sugar
together with the pulverized residue of an indigenous root, saleph.
Repeated stretchings of the congealed mixture improve its flavor and
texture. The ice cream is served from refrigerated drums within
handsome hand-carved wooden frames. The attraction is not only in the
delicious taste of the product, but also in the novelty of preparing and
stretching the ice cream in front of customers. Whole families gather
on street corners to watch the preparation and purchase individual
cones. Masterful showmen, the vendors delight their customers with
carnival-like entertainment. The enterprise is extremely profitable,
since the ice cream cones can be retailed to the public for
approximately seven times the underlying cost of the ingredients.
EuroDelite, Ltd., a newly formed venture, will undertake to
acquire the Turkish ice cream machines and critical saleph ingredient
from an importer and to produce and vend the specialty ice cream from
strategically important outdoor locations in the Buffalo area during a
twenty week season projected to run from May 15th through September
30th. EuroDelite, Ltd. will hire enthusiastic, personable college
students to prepare and sell the ice cream to the public. It is
projected that the venture will be profitable in its first season,
yielding substantial returns on equity to its investors. First-year
profits will enable the company to expand the scope of its operations in
subsequent seasons.
1.
PRELIMINARY PLANNING
EuroDelite, Ltd. will produce and retail specialty Turkish
ice cream in single-scoop cones from hand carved refrigerated machines
in strategically important outdoor locations. A variety of ice cream
flavors will be offered. The ice cream will be retailed for $2.00 per
cone, which is commensurate with competing ice cream establishments in
the Buffalo area.
The company will address a broad customer base. Potential
ice cream customers are drawn from all demographic categories and
socioeconomic groups. The customer base ranges from the very young to
the aged. Financial station does not affect one’s ability to purchase
and enjoy a $2.00 ice cream cone.
The company will place its machines and vendors in three (3)
strategically important locations in the Buffalo area during its first
season of operations. The company will enter into negotiations with
established restaurant operators to position its machines outside such
restaurants. The company has targeted the following locations for the
viability of their outdoor summertime attraction: (1) the Buffalo
waterfront (The Pier); (2) the Elmwood Avenue strip (Panos Restaurant);
and (3) the Village of Williamsville (Eagle House Restaurant). The
owners of each of these popular restaurants have enthusiastically agreed
to allow our vendors to set up in front of their establishments at no
charge. They believe that the novelty and publicity attendant to our
ice cream will help their own business.
2. MISSION STATEMENT.
EuroDelite, Ltd. will undertake to prepare high quality
Turkish specialty ice cream of extraordinary taste and unique stretchy
consistency from all-natural ingredients and imaginatively vend the ice
cream in high-visibility outdoor locations at an affordable price point
to a broad spectrum of customers/
3. COMPANY GOALS.
EuroDelite, Ltd. sets as its goals the profitable operation
of a seasonal concession enterprise, the production of high caliber ice
cream of memorable taste and consistency, the enthusiastic marketing of
the product by personable employees, and the achievement of customer
satisfaction and repeat business.
4. COMPANY OBJECTIVES.
EuroDelite, Ltd. seeks to realize a substantial return on
its investors’ equity, to build visibility and market acceptance of its
product, to provide enjoyable employment for its college associates, and
to progress up the learning curve for future growth and expansion in
subsequent seasons.
5. CUSTOMER SERVICE POLICY.
EuroDelite, Ltd. will provide flavorful, all-natural
ingredient ice cream to its customers in a carnival-like atmosphere in
which exuberant young employees selected for their personality will seek
to entertain, flatter, and make our customers feel that they are the
raison d’ętre of our company. Since EuroDelite, Ltd. is a service
business, customer service will be a number one priority of our company.
6. FINANCIAL PLANNING.
Based upon discussions with established ice cream vendors in
the Buffalo area, the average retailer sells between one hundred (100)
and two hundred (200) ice cream cones per day, seven days per week, in
the twenty (20) week season that runs from May 15th through September
30th. The program income statements that follow are based upon the more
conservative retail estimate of one hundred (100) cones per day. The
more ambitious retail estimate of two hundred (200) cones per day is
included to indicate the maximum realistic potential of the company in
its first year of operations.
BANKING
Since the company will be funded on an all-equity basis by
the sale of stock (100 shares at $50.00 per share), the company will not
need loans from any bank. The company will maintain a checking account
at the Marine Midland Bank branch located at Elmwood Avenue and West
Utica Street for the deposit of daily cash receipts and the payment of
bills for ingredients and labor.
7.
MANAGEMENT TEAM.
The company will be managed by its principal who will be
responsible for overseeing all aspects of company operations:
procurement of site locations, acquisition of ingredients and ice cream
machines, hiring of employees, managing cash flow, inspecting the
vending locations on a daily basis.
8.
GOVERNMENT REGULATIONS.
The company will have to obtain approval of its food service
operations by the Erie County Health Department. A plan review will be
prepared by Management and submitted to the Health Department for
scrutiny and approval. The ice cream mixture will be prepared in the
approved commissary kitchens of the restaurants where the Company’s
machines will be located. The completed ice cream will be cooled in
dispensed in accordance with practices approved by the Health
Department. A City of Buffalo Vendor’s Permit will be required for each
of the Company’s two (2) location in Buffalo: outside The Pier and
Panos Restaurant. A Village of Williamsville Vendor’s Permit will be
required for the Company’s location in front of the Eagle House on Main
Street.
9.
PRODUCTION PROCESS.
The ice cream is produced by boiling and constantly stirring
whole milk, heavy cream, granulated sugar, sahlep, and vanilla extract
in accordance with the recipe included in the Appendix for thirty (30)
minutes until the mixture congeals. The mixture is allowed to cool for
twenty (20) minutes and then poured into the refrigerated drum cooled by
electric cools. The mixture is agitated by special rods until the ice
cream mass starts to form. Repeated stretchings of the ice cream
improve its flavor and texture. The ice cream is dispensed in cones to
the Company’s customers.
10.
MARKETING PROCESS.
The Company will market its product through the
high-visibility outdoor preparation and sale of its ice cream in
strategic locations. The enthusiasm of our college employee associates
will help sell the Company’s product. The Company’s employees will be
attired in white polo shirts bearing the Company’s logo and khaki walk
shorts to foster the seasonal summer nature of the Company’s
enterprise. The Company will seek complimentary publicity for its
product by sending promotional materials to The Buffalo News,
community newspapers, and local television and radio stations. It is
hoped that the Company’s unique product and presentation will be the
focus of features by such media.
CONCLUSION
The Company has realistically high expectations for
success. The Company’s product is high-margin, high-volume, low-cost
family refreshment. The Company’s product draws upon the timely
interest in ethnic and international foods. The Turkish ice cream is an
ethnic preparation of a familiar food with a familiar taste. The added
attraction is the European-style preparation of the ice cream on-site,
fostering a carnival-like atmosphere. The Company’s product is
something totally new to Americans in street concessions.
The Company has a conservative, all-equity capital
structure. Based upon the performance projections, the Company can
reasonably expect high profitability in this all-cash business. The
Company’s preferred shareholders, who bought stock at an affordable
fifty dollars ($50.00) per share, are entitled to an extraordinarily
generous yet realistically obtainable return of one hundred percent
(100%) on their investment. The Company’s principal, who owns all the
common stock, is entitled to the substantial cash flow above the five
thousand dollar ($5,000.00) preferred return. The Company’s principal
thus has the compelling incentive to work hard and effectively to
realize the substantial surplus profits on an initial investment of one
dollar ($1.00) for purchase of all the common stock.
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