Business Name :
“Pitha-Hut”
Business location
: TSC Centered, University of Dhaka
Contact :
+8801720082238, +8801670460352
Owners :
Afshanul, Asad, Irfan, Rasel, Murshed, Saddam
Contact Person :
Shaikh Md. Rasel, Irfanul Haq (Dept. of Marketing)
Business Structure
: Partnership Venture
Business Concept :
Deshi Pithas.
USP of Business :
Diversified taste, reasonable price with standard quality.
Mission Statement
: Stay close to traditional touch.
Vision :
Spreading traditional touch throughout the country.
Objective :
To capture the market share in the fast food industry.
Goal :
To attain the break-even point.
Financing
Ours total investment is BDT 600,000 which includes BDT 400,000 of
capital and 200,000 of loan. This 400,000 is contributed by our six partners
equally and the remaining 200,000 of loan is to be paid of over 3 years. This financing
will cover all the long-term & running costs like van, office building and
materials, suppliers, advertising & production cost.
Confidentiality of report
This report is confidential and is the property of the co-owners listed above.
It is intended only for use by the persons to whom it is transmitted and any
reproduction or divulgence of any of its contents without the prior written
consent of the venture is prohibited.
Executive
Summary:
Nowadays fast foods are
very much popular all over the world because of less time consuming and more
taste. It is also popular among the people of our country. But because of these
junk foods we are forgetting our own traditional foods like pithas. So with
this initiative we have come forward to make a business plan to replace the
ongoing fast foods trends by our traditional Bangladeshi pithas.
We have named our business
as ’Pitha-Hut’. We have given this name because we feel ‘pithas’ are the heart
of Bangladeshi culture.
Our idea is to serve
various types of pithas that will attract the people towards our own cultural
specialty like misti-pithas & jhal-pithas. We think it has great potential
in this type of food market industry. We have determined some factors that will
help us to generate some revenues from the beginning of this business launch. And
we also have defined our competitor’s strategies so that we can compete with
them. We have analyzed our SWOT and defined our business strategy. We have
created a great opportunity for investors who seek new innovative business
ideas and plans.
We have determined our
break-even point on daily basis. We have calculated the targeted year when we
will collect the investment and the revenue amount. And we projected our
revenue will be double up within five years if we go at a significant speed. We
have forecasted that we can attain the break-even point if we make a sale of
2052 Tk. daily, approximately of 250 pithas. Our objective is to provide a
better quality food habit and to shift the trend from the fast food items to
traditional pithas.
Industry Analysis
We need to do an industry analysis in order to know which industry, we
will be competing in. Discussion of the industry outlook, including future
trends and historical achievements are included here. We are providing insights
on new product development in this pitha industry.
Future outlook and trends:
Here we are doing business for occupying the place of fast food
restaurants. So primarily, we are planning to do business in university of
Dhaka (TSC area). As almost all students take snacks in the campus, the
anticipated growth in this industry will be notable. Current trend is that no
notable new industry has been entered in this area. In near future we are planning
to launch our chain ‘Pitha-Hut’ in all over Dhaka. Within 20 years we will
extend our brand in the whole country.
Analysis of Competitors:
Within this market we have some strong competitors like DUCSU, TSC, Shadow,
Various hall canteens, various faculty canteen and several hawkers and so on. But
as we are going to start with the conventional local food, we don’t have such
type of strong competitors. It is stable business because it is related with
appetite. So it is appropriate business to enter. Exit barrier is low, so
certainly it is an attractive segment of market to choose. Actually those above
mentioned shops are our nearest competitors. However, these existing
competitors are focusing on the only fast foods or lunch. On the other hand,
these competitor's products are not according to the standard quality.
Why we will win over competitors?
We will be able to capture the larger portion of the market because we
are doing something different by providing traditional pithas to the market. On
the other hand our quality will be high enough to attract customer and customer
can get quality food at a comparatively low price. As it is a mobile
restaurant, we can also provide place convenience.
Market Situation Analysis
Every business
has its own
features on which
the chances to
be successful depends.
For measuring the potentiality and the risk of a new business we need to
make the proper use of SWOT analysis. By this analysis we can evaluate the
strength, weakness, opportunity and threat. We are starting with
the strength of our plan.
Our
Strengths:
We are going
to deal with the seasonal Bangladeshi foods, which are known to us as 'Pitha'.
Traditionally we have many seasonal pithas. We have pithas in winter season; we
have pithas in
summer and also in spring. The main advantages of our plan can be categorized
in two ways. One is cost effective and another
one is health consciousness. Our
conventional seasonal foods are always very much popular among the people. But
now-a-days, people lose their
attraction toward pithas because of its unavailability. For that reason, we
concern that problem. And also
specialized skill is needed for making these foods. We have such special cooks for preparing delicious
pithas and this is ours main strength. We will reach all the pithas to the
customers as like as fast foods.
Our
Weaknesses:
In this business, we found very
few weaknesses. But they are significant. Some pithas can be prepared in winter only, cannot be made in summer. Because of
the unavailability of some core ingredients, some pithas cannot be prepared all
the time. So, this is our problem. We cannot
provide our best effort through the whole year. Another weakness is that our
ingredients come from natural resources those are not available in urban
areas. We have to get those things from rural or sub-rural areas. For this we
need to have strong chain of suppliers. But
for maintaining those suppliers and also because of the distance we have to spend a lot that will certainly minimize
the profit. Diversity of taste can be
weakness in a sense. We have to be
diversified for the changing demand. So
in this case, we need to be a little bit innovative.
Our
Opportunities:
We have huge
opportunities in this business. Because people are very fond of those conventional
pithas. One problem is there and that is unavailability. Sometimes people get
those pithas,
but the sources are very unhealthy. There is no brand pitha industry in this
field. So, these all things are opportunities from our surrounding market and
for those opportunities we thought for that business. So 'Pitha-Hut' is going
to be the brand name of our seasonal pitha. Nowadays,
people are much more health conscious, so many of them are trying to leave
those
fast foods with high cholesterol, but they have no substitute products to take. ‘Pitha-Hut’ is going to be for that replacement. And pithas aren't junk food. So people will get more attraction to these pithas.
fast foods with high cholesterol, but they have no substitute products to take. ‘Pitha-Hut’ is going to be for that replacement. And pithas aren't junk food. So people will get more attraction to these pithas.
Our Threats:
We are going to enter into a
highly competitive segment of food market. We will have to face a lot of
threats. Our major competitors will be the fast food shops. They already have
diversified product lines and also they are capturing the major portion of the
market. Our other threat can come from bakeries, pastry shops and a bit from
restaurants. Bakeries and pastry shops are
producing and serving some food items that made the need of the loyal customer whom we have targeted. Restaurants are dealing
with the customers with limited earning. So, all these things are proved to be the threat for that new business.
Market Segmentation:
Here our target market will be student and visitors coming to the campus
area of the University of Dhaka. And we targeted those who have attraction for
pithas. We did a survey for finding out our targeted market. Maximum choose
pithas as their leisure foods.
Industry
forecast:
From a long time, students are
complaining about the quality of the food and they are also complaining about
the high price of the product. We will be successful as we will try to overcome
all the limitations that competitors facing.
Description of Venture
Product:
We are offering
variety of pithas in our venture. Products are characterized below-
1) Chitui/chitoi piṭha, 2) Teler
piṭha, 3) Bhapa piṭha/dhupi, 4) Pakan
piṭha: fried,
5) Puli piṭha: dumplings, 6)
Beni piṭha, 7) Dudher piṭha /bhija piṭha, 8) Chôndro puli,
9) Muger puli, 10) Dudh puli, 11) Paṭi shapta, 12) Mug pakon, 13) Gokul, 14) Chui Pitha,
15) Ras pitha, 16) Bibi Khana Pitha, 17) Malpoa
Pitha, 18) Dhup Pitha, 19)Bora Pitha, 20)Ful Pitha
Location and size of the Business:
As ours is a mobile
restaurant, there will be no specific location. But primarily, we select TSC
area and Mall Square. We will use caravan to carry our products to these
locations. As we have some financial limitations, we will lease caravan at
least for three years. Mall square and TSC area will be the right place for our
business. As most students get together here for various purposes, there is
more possibility of sales. On the other hand, TSC area is very popular for the
visitors to pass their leisure time.
Office equipment and personnel:
For operating this business,
we will need at least two experienced skilled cooks for preparing various
delicious traditional pithas. On the other hand, we will hire at least four
moderately educated, smart, young employees for selling and distributing
purpose. Two of them will be male and rest two will be female and their dress
code will be traditional. As equipment for preparing traditional pithas are not
so much high. We will purchase the equipment in case of necessity.
Sample Price Menu
Items Price (Tk.)
Sweet Pitha:
Vapa Pitha 10/=
Patishapta Pitha 10/=
Semai pitha cooked by gur (per plate) 10/=
Takti Pitha 5/=
Pooli Pitha 8/=
Nakshi Fula 15/=
Ras Chitai 12/=
Dudh Chitai 10/=
Chilly
Pithas:
Jhal Pooli 8/=
Dim Makhan 10/=
Jali Pitha 8/=
Jhal Takti 5/=
Spicy Pithas:
Vaja Pooli
8/=
Vaja Patishapta 10/=
Shukna Chitai 8/=
Shukna Chitai with chicken 20/=
Pan Pitha 5/=
Fluid Items:
Coconut Water 5/=
Bel Sharbat 8/=
Lebu Sharbat 5/=
