SEOULMATE - E S T 2 0 2 4 - Wong Kun Hei 22109327D Ng Yan Lam 22034248D Wong Wai Ching 22033295D Lam Ka Ying 22023434D Yeung Tsz Yui 22054794D Kaur Chanpreet 22034179D Lam Chi Ying 22033882D Chen Jiahui 22034706D Tsang Wan Yi 22035726D Ngan Ka Wing 22074039D David Liezel Gaspar 22034713D Lam Yan Lok 22036242D Cheung Shuk Yi (Elaine) 22051672D Ng Tsz Yan 22033426D Sze Ping Sum 22030525D Law Kwok Ho 22033334D
TABLE OF CONTENTS 02 Company Background Feasibility study Legal requirement Front of house concept Back of house concept HR resources Marketing plan+ Budget
A B O U T U S SEOULMATE was founded by a group of young people who love Korean culture, who are passionate about cooking and who want to have their own restaurant for the dream. 03
MARKET DEMAND In recent years, because of the wide influence of Korean pop culture in Hong Kong (HKEXNEWS, n.d.), more and more people like to eat Korean food. Moreover, there is an increased demand for innovative dishes (HKEXNEWS, n.d.), people are more interested in creative dishes. However, there are few Western & Korean fusion restaurants in Hong Kong. Therefore, SEOULMATE has been founded. 04
Restaurant Type Start-up Year ‘Soul’ Homophone of ‘SoulMate’ Hope our cuisine can heal the hearts of our customers Guest can find their soul food or perfect match within the dishes we serve Soul food is presented on a plate WHAT ‘SEOULMATE’ MEANS 05
THE COLLISION OF WESTERN AND KOREAN INGREDIENTS TRADITIONAL KOREAN DISHES OUR CUISINES DIVERSE DISH CHOICES 06
SEOULMATE is a cozy zoneto enjoy quality time with loved ones. SEOULMATE is a spaceto enjoy K-pop music and delicious food. SEOULMATE is a meeting placefor Korean and Western cultures. WHAT WE OFFER 07
GANTT CHART (15/01/2024 - 15/01/2025) 08
GANTT CHART (15/01/2024 - 15/01/2025) 09
‘Become the most popular Korean & Western fusion restaurant and a gathering place for customers to relax.’ ‘Create innovative dishes with quality ingredients to satisfy every customer's taste buds.’ M I S S I O N V I S I O N 10
FESIBILITY STUDY
LOCATION No 81, Nanhai Building, Chatham Road South, Tsim Sha Tsui, Hong Kong 12
Workers(30%) Many commercial buildings - Officers East Ocean Center, Beverley Commercial Centre, Oriental Crystal Finance Centre Retailers WEEKDAY TARGET MARKET ANALYSIS CustomerDemographic for differentserviceturnover Travellers(50%) Different scales of hotels nearby the location Hotel ICON, Goyal Garden, Royal Kowloon This target market will becurious of new restaurant 13
Lots of residential building nearby thelocation Passkon Court, May Wah Court One of thechoicefor Residents Residents(20%) CustomerDemographic fordifferent serviceturnover TARGET MARKET ANALYSIS 14
1.Residents (10%) 2.Travellers (10%) 3.Couples (10%) 4.University students (20%) Korean food is more popular to teens Sharing with friends Good places for teens have friend gathering at night WEEKEND TARGET MARKET ANALYSIS CustomerDemographic fordifferentserviceturnover 15
WEEKEND TARGET MARKET ANALYSIS CustomerDemographic for differentserviceturnover Residents(10%) Travellers(10%) Couples(10%) University students(20%) Korean food is more popular to teens Sharing with friends Good places for teens have friend gathering at night 16
Next to Hong Kong Science Museum and Hong Kong History Museum Parents and theirchildren visit museum on weekend After visiting, having lunch in our restaurant Family shopping together during the weekend in Tsim Sha Tsui Having lunch or dinner will besuitableconsideration for family in our restaurant One of theimportant target market TARGET MARKET ANALYSIS CustomerDemographic fordifferentserviceturnover Family (50%) 17
Weekday Weekend 2. Travellers Concern creating a impressive and pleasure travel experience HKD$200 - 400 1. Residents + Workers Concern having a great lunch time with delicious food HKD $100 - 250 4.Travellers TARGET MARKET ANALYSIS AverageSpending 1.Family Family gathering Celebration HKD $300- 500 2. Residents + Workers HKD $100 - 250 HKD $200 - 400 3. Couples + University Students HKD $200 - 400 18
STRENGTHS WEAKNESSES SWOTANALYSIS W S Prime location Near hotels/offices/traveling spots Excellent customer service New market entrant Limited resources Not enough cash flow No organized management system 19
SWOTANALYSIS O OPPORTUNITIES Collaborations with KOL Partnering with food delivery apps ●Food Panda ●Deliveroo ●KeeTa T THREATS High competition Many competitors New regulations or changes in food safety laws Economic downturns 20
NAMDAEMOON KOREAN B.B.Q. RESTAURANT 5 MINS AWAY BBQ-RELATED DISHES ALCOHOL Direct Competitors SAMSO KOREAN RESTAURANT 1 MIN AWAY SOUP-RELATED DISHES Direct Competitors COMPETITOR ANALYSIS 21
THE DRUNKEN POT OFFERS A CANTONESESTYLE HOT POT Indirect Competitors 8FIVE2 RESTOBAR MEXICAN-STYLE RESTAURANT AND BAR OFFERS DISHES LIKE NACHOS AND ALCOHOL Indirect Competitors COMPETITOR ANALYSIS 22
Total: HKD20,646,662.6 12 months rental fee The first and the second months will be "Rent Free Period" Rental fee of a first year = HKD$125,000 x 10 = HKD 12,500,000 1. Rental Fee FIRST YEAR BUDGET 23
2. RENOVATION Kitchen renovation Necessary renovations Bar renovation HKD 800,000 3. INTERIOR DESIGN Decor Seating Tableware HKD 53,554 24
4. KITCHEN EQUIPMENTS AND SUPPLIERS Kitchen, bar equipment - Bonny Foodservice Product Utensils Food & Beverage inventory - Great Harvest Foods Limited HKD 4,392,473.6 25
5. LICENSES Consultancy fee: HKD 105,000 not including all licence application fees All Licence fees: HKD 62,215 Business Registration (1 year certificate) HKD 2,250 Certificate of Incorporation HKD 1,545 Licensed General Restaurant HKD 37,750 Liquor Licence HKD 8,940 (including newspaper statements fee) Food Licence/Permitb HKD 2,160 ($540per one) Restricted Food Permit Non-bottled Drinks Permit Milk Permit Frozen Confections Permit HKRIA Music Licence HKD 9,570 (HKD 165per seat) 26
6. STAFFING FEE Restaurant Manager x1 =HKD 23,000 Assistant Manager = HKD 20,000 Server (Full-time x 3 , part-time x 3) = HKD $17,000 x 3 + (HKD $70 x 8 hrs) x 3 = HKD 53,240 Bartender x 2 = HKD 18,000 x 2 =HKD 36,000 Head Chef x1 = HKD 25,000 Station Chef x3 = HKD 17,500 x3 = HKD 52,500 Part-time Chef x2 = HKD 70/hrs (8 hours) = HKD 1,120 Part-time dishwasher x1 = HKD 75/hrs (9 hours) = HKD 675 Total: HKD 211,535 Total: HKD 2,538,420 (one year) 27
Through advertising in Social media Website development Other marketing efforts HKD 125,000 7. MARKETING AND ADVERTISING 28
8. UTILITIES AND OPERATING EXPENSES Costs for utilities : Electricity Water Gas HKD 600,000 Ongoing operating expenses : Insurance Accounting services Maintenance HKD 70,000 29
LEGAL REQUIREMENT
Located in Mongkok, Hong Kong Specializing in assisting the Hong Kong food industry to obtain licenses. Successfully assisted 100+ restaurants Customized Planning and Servicesinclude: Implement store architectural design and fire protection facilities Assist and check title deeds and land uses and compare with building plans. Practical inspection of building and fireengineering requirements Assist and follow up on all needed license applications FOOD LICENSE HK CONSULTANCY COMPANIE 30
LICENSES/PERMITS Business Registration ‘Seoulmate Hong Kong Limited’ From the Hong Kong Companies Registry This applies to every business in Hong Kong Certificate of Incorporation From the Hong Kong Companies Registry Affirm and valid the legal establishment and registration of the company Articles of Association From the Hong Kong Companies Registry Sets out the rights and obligations of shareholders, directors and other company members 31
LICENSES/PERMITS Licensed General Restaurant From the Food and Environmental Hygiene Department (FEHD) Need approval from Buildings Department, Fire Services Department and FEHD. Additional Licenses/Permits Restaurant Music License From the Hong Kong Recording Industry Alliance Limited LiquorLicense NeedapprovalfromtheLiquor LicensingBoard,theCommissionerof Police andtheDistrictOfficer Non-bottledDrinksPermitfromFEHD MilkPermitfromFEHD RestrictedFoodPermitfromFEHD FrozenConfectionsPermitfromFEHD 32
FRONT OF HOUSE CONCEPT
The Seoulmate, an authentic casual dining establishment that specialize in Korean cuisine. Our first ever branch locating in Tsim Sha Tsui Hong Kong, presenting an inviting and relaxed atmosphere for our guests that searches for an authentic Korean culinary journey. The Seoulmate meticulously and carefully craft the ambiance with sophisticated and comfortable dining environment that effortlessly integrated traditional and modern elements of Korean. From the choices of colors to selection of artwork to lightning fixtures and the strategic arrangement of furnishings, we truly give high importance and attention that celebrates the cultural heritage of Korea. As our ultimate goal is to establish an atmosphere where our guests can wholeheartedly indulge themselves in the pure essence of Korean Culture. TYPE OF RESTAURANT 33
Casual Table Service As we are one of thecasual dining establishments, wetake great pridein offering our guests a casual dining experiencethat is friendly, relaxed, and unhurried. Our dedicated team are highly committed in establishing a warm welcome and comfortable manner that makes over valued guest feel at home. Since we have a strong focus on efficiency. Our serviceis designed to ensurethatevery need of our valued guests is promptly addressed. Our dedicated staff are utmostcommitted to go above and beyond whether on providing menu recommendation to exploring the mouthwatering dishes we offer to accommodating special requests, serving as an assurancethat our valued guest feel the genuinesense of connection and professional hospitality. TYPE OF SERVICE 36
We believe that teamwork and cooperation are crucial factors in creating a harmonious and successful working environment. Our dedicated staffs recognize the importance of collaborating effectively in order to provide an exceptional and high-quality service to our valued guests. Our company and dedicated employees shared commitment and dedication fostering a good culture of teamwork by communicating openly, assisting, and supporting each other to ensure smooth and efficient operations. Service Team and Culinary Team actively cooperates to provide an outstanding service. As they understand the importance of supporting and respecting each one another that creates a positive working culture. From sharing responsibilities through busy periods to supporting other colleagues in providing unparallel service, embracing the fundamental factor of cooperation. By demonstrating collaboration, they work together as a whole to ensure every guest are being taken care throughout the entire dining experience by showing sense of hospitality and warmth. TEAMWORK AND COOPERATION 37
Music Entertainment is indeed an essential necessity for our casual dining restaurant. We truly recognised the significance of musical entertaining, by offering a blend of K-POP and classical instrumental music.Wetruly believethat the energetic vibes and catchy beats of K-POP brings a modern atmosphere to our establishment. On the other hand, we truly believe classical instrumental music adds a sense of elegance that complements the dining experience. As our goal is to provide an elegant and refined ambience for our valuable guest while savouring our delightful Korean offerings. Our restaurant opens its doors from 12:00 PM to 12:30 AM, allowing guests to dine and enjoy the authentic cuisine with the high-quality service offered. To ensure a smooth dining experience, our last order timings are as follows: food last order at 10:45 PM and drink last order at 11:30 PM. Our team dedicates to provide an outstanding and exceptional service and create a warm and hospitable environment to our valued guest through these designated operational hours. OPERATIONAL HOURS TYPE OF ENTERTAINMENT 38
SEOULMA TE Korean Restaurant No 81, Nanhai Building, Chatham Road South, Tsim Sha Tsui, Hong Kong Tsim Sha Tsui Seulmate aims to design a reservation system for Inline.app booking website. Thesystem should allow customers to effortlessly make reservations by selecting their party size, desired dining date, and a booking date and time within a two-week window. The goal is to create a seamless and user-friendly experiencefor customers when reserving their table. RESERVATION SYSTEM 39
CASHIERING SYSTEMS Cash Payments: Customerscan conveniently settletheir bills using physicalcurrency, such as banknotes and coins. Credit Card Payments: Visa and Mastercard will be accepted ascreditcard payment options. Electronic Wallets: Popularelectronic payment methods such as Apple Pay, Alipay, and WeChat Pay will beintegrated for seamless and securetransactions. Octopus Card: Customers will havethe option to pay using the Octopus Card, a widely used contactless paymentcard in theregion. Seulmateintends to implement a robust Cashiering System using a Point of Sale(POS) System for seamless payment processing. The system will support multiple payment methods, including: The aim is to providecustomers with a smooth and convenient payment experience while accommodating a variety of payment preferences. 40
Seulmate's official website offerscustomers a seamless browsing experience, providing access to various pages. Customerscan explorethe About Ussection to learn more about our restaurant and team, browsethe Menu page to discover our diverse offerings, and visit the Contact Us and Get in Touch pagesto find our location, operating hours, and provide valuablefeedback. Thisensurescustomers haveclear information and easy communication channels to engage with our restaurant. ADVERTISEMENTS AND PROMOTIONS 41
LEAD TO ABOUT US PAGE LEAD TO VIEW MENU LEAD TO CONTACT US ABOUT US PAGE MENU CONTACT US PAGE GET IN TOUCH PAGE 42
Through our Instagram account, wesharecaptivating content, including new menu items, special promotions,and behind-the-scenes glimpses,ensuring our customers stay informed and engaged. SEOULMATE INSTAGRAM 43
We havecarefully designed our floor plan to accommodate approximately 58 guests,ensuring a comfortable and enjoyable dining experiencefor all. Our well-thought-out layout maximizes space utilization while maintaining a welcoming ambiance. FLOOR PLAN 44
A modern restaurant interior with dark gray walls, black tables, dark wood dining chairs, soft lighting, a neutral color palette, and a sleek design. The atmosphere is calm yet elegant, perfect for dining experiences DESIGN 45
LIGHTING The modern pendant light with a glass and metal shade. Thelighting effect casts a soft glow on therestaurant. Black Ceiling spotlights 46
A cityscape mural with skyscrapers WALL ART 47
FURNITURE THE DARK WOOD DINING CHAIR WITH GRAY FABRIC SEAT CUSHION Dimensions(cm) : Width:48cm & Height:82cm & Seat Height 45cm 48
FURNITURE SOFA WITH BLACK BASE AND LIGHT GRAY FABRIC CAN STORAGE ITEM HERE 49
FURNITURE MODERN BLACK SQUARE DINING TABLE Length:67cm x Width: 67 cm 50