FFF Ltd will be the publisher of Fast Food Fun (FFF) booklet. FFF is one of the answers to the increasing demands to educate all generations about healthy eating, it is aimed at increasing people’s knowledge, awareness and skills around healthy eating; as a result we hope to encourage people to eat well and lead healthier lives. The ‘local’ booklet, which will be published monthly, will be directed at fast food lovers of all ages throughout Bedfordshire initially, growing through counties around Britain.
The management of FFF Ltd is aiming to achieve a total combined readership of 20,000 in year one, increasing to more than 50,000 by the end of year three. FFF will be complimented by a website and an app that gives the customer all the information and offers at their fingertips. Distribution points, organisational sales, and direct mail to target market segments will be utilised to build revenue. In the UK market place there were 61,365 companies engaged as fast food restaurants and takeaways in 2011.
Consumer expenditures for fast food and home delivery industry in the UK grew by 6% in 2011, to 10. 28bn, the overall fast-food and home-delivery industry has remained robust, in spite of the economic downturn, Key Note Report - Fast-Food & Home-Delivery Outlets 2012. Publishing is a high margin and high profit business, the key to success is quality content and successful marketing; the franchising of the ‘local FFF booklet’ to other counties of England, Scotland, Wales and N. Ireland will be an additional revenue stream which will be undertaken from month six.
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A loan of 25,000 and the successful execution of FFF Ltd. ’s plan will produce revenues and profit of more than 90,000 & 5,000 respectively in year one, 180,000 (25,000) in year two, and 210,000 (? 60,000) in year three. The lowest margins are in year one, reflecting start-up, printing and marketing costs, the development of internet support and the franchise framework. With production and fulfilment services outsourced and the general and project management in place (Robert and Sue Moss, the AMC Ltd owners), FFF will only have the need for artistic & editorial as well as financial and legal expertise. Figure - FFF Projected Sales Revenue by channel
The project, which begins in January 2013 with be governed by the use of Prince2 project methodology and will have the following outline timelines and milestones. FFF has outlined a process (and milestone) to recruit the contract artistic & editorial expertise that is required to draw together the booklet and the aligned website and app. The legal and financial expertise will be hired as ‘contract labour’, on individual set briefs. Moreover, any additional sales persons required will be hired as temporary contract labour via an agency.
Appendix C - Strategy and Implementation Summary The strategy at FFF is to serve a large clearly defined local market well, by targeting the identifiable markets in a ‘taster’ county (Bedfordshire) with… 1. an additional advertising channel for the FF provider 2. information, related memberships and offers/discounts for the consumer and 3. a franchise framework for the concept for replication around the country A thirst exists for not only information about what we eat but also where we can get it for the best possible value, especially in this tough economic climate.
The initial issues which will be published in early summer of 2013 will reach out and assist or inform the target markets. The strategy will be to combine direct selling, direct mailing, and subscription or membership to build up circulation through multi-channel distribution and to give the providers an additional advertising channel direct to their target market; with the added benefit of a scalable business model that can be replicated in the other 85 counties. Marketing Strategy The advertising revenue will be generated by outlining the benefits via direct mailing to the local businesses in the first instance, and gauging the response.
This would then be followed by an introductory phone call and then finally by a visit to the premises and discussion with the owner or manager. Booklet sales will be generated primarily by using direct sales methods, at locations where the target market will have a ‘foot fall’ such as shopping centres, universities schools and youth clubs, there will also be use of direct mailing from mailing lists, there are several database lists available to purchase. The promotional runs will be 50 page promotional booklets initially with press runs of 1,000 copies for pre-issues A and B in month 4 and 5 of operation respectively.
All costs associated with the promotional runs will be included in the advertising and promotion budgets for those months. A total of 2000 in the first year will be spent on direct mail focusing on growing the readership, as the subscription base grows the focus will gradually move to franchise development. Finally, sales to retail outlets through distributors will also be accomplished; key distributors will be contacted again in the near future, and have already expressed interest in the publication. Distribution Strategy
Distribution of the booklet will be through a number of channels, they include… 1. direct selling (projected to be 70%) 2. direct mailing (projected to be 20%) 3. retail channels (projected to be 10%). All sales will be booked at full revenue, fulfilment costs will be expensed. Advertising revenue will be generated in a number of different ways, and include face to face sales people, telephone sales and direct marketing; all advertising revenue will be booked at full value with fulfilment costs being expensed.
There are more than 86 counties in the United Kingdom, with 39 in England, 13 in Wales and 34 in Scotland; all franchise revenue will be booked at full revenue with administration costs being expensed. A number of strategic alliances can be explored and exploited between FFF and FF providers, radio station and other publications, focus will be given to this activity once the booklet is published and established. Promotion Strategy In addition to advertising, direct selling and mailing FFF will endeavour to use public relations exposure to benefit and promote the FFF brand.
Robert Moss will seek to appear and be interviewed on local T. V and radio programs announcing competitions and local sponsorship to generate interest and calls either for subscription, advertising or franchising information. A promotion strategy for subscription sales through retail organisations will include percentage rebate of the first year's subscription revenue. Pricing Strategy Advertising in the FFF booklet will be 60 per page per issue 1. A one-year up front subscription will be 600 2. A two-year up front subscription will be 960 The FFF booklet will sell for ? 1. 00 per single issue through distribution points. 1. A one-year subscription will be 10. 00 2.
A two year subscription will be 18. 00 Website private membership access will sell for 10. 00 per quarter. 1. A one-year subscription will be 20. 00 2. A two year subscription will be 35. 00 The county franchise will sell for ? 1,000 per month for a yearly license. 1. A one-year up front franchise license will be 10,000 2. A two year up front franchise license will be 18,000
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