CULINARYON NEW OPENINGS
ZURICH
Zurich Market
Population
Zurich is the largest city in Switzerland, which has approximately 409,000 inhabitants, the urban agglomeration 1.32 million and the Zürich metropolitan area 1.83 million.
Life Standards
Zürich was named the city with the best quality of life in the world as well as the wealthiest city in Europe in terms of GDP per capita.
Labor Market
The level of unemployment is 3.2% and the average monthly income is about CHF 7000 before any deductions for social insurances and taxes.
Corporate Market
Zürich is a leading global city and among the world's largest financial centres. Most of Switzerland's research and development centres are concentrated in Zürich and the low tax rates attract overseas companies to set up their headquarters there.
Cooking Culture
Switzerland was historically a country of farmers, so traditional Swiss people enjoy cooking and use only good ingredients. Swiss cuisine bears witness to many regional influences, including from French, German and Italian cuisines and also features many dishes specific to Switzerland.
Swiss also loves wine (and also produce it locally) and coffee (seventh highest per capita coffee consumption worldwide).
Swiss also loves wine (and also produce it locally) and coffee (seventh highest per capita coffee consumption worldwide).
Experience Economy
Experience economy (as the next economy following the agrarian economy, the industrial economy, and the most recent service economy) reached Switzerland. Despite theaters, concerts, exhibitions, we see the raise of the new edutainment businesses such as "PaintEvents", "ArtEvents".
COMPETITORS
What's on Culinary school market?
There are several studios in Zurich, which propose different open classes, mostly for adults, some of them organize team buildings and private parties as well.
The main cuisines are Swiss and Italian. Some studios propose also Asian, Chinese and Indian cuisines.
There are also degustations of wines and cheeses, chocolate tastings and baking master classes, organised outside of culinary studios.
The price per person is about 150 - 200 CHF.
The main cuisines are Swiss and Italian. Some studios propose also Asian, Chinese and Indian cuisines.
There are also degustations of wines and cheeses, chocolate tastings and baking master classes, organised outside of culinary studios.
The price per person is about 150 - 200 CHF.
Main Competitors
It is not sufficient to see and to know the beauty of a work. We must feel and be affected by it like in CulinaryOn.
Despite the fact that almost all studios offer private and corporate events, their format and style is still more academic.
Most of these studios are not active in sales and they don't use the digital advertising.
Most of these studios are not active in sales and they don't use the digital advertising.
Opening Plan
450 sq.m: 2 studios and 1 Conference /Private dining/ Painton
LOCATION
Sihl City
Centrally located modern shopping and entertainment center
Great transport accesability
By Car
Direct motorway access at the Zurich-Brunau junction, travelling towards Chur. You can reach us quickly and easily from Zug, Aargau, Lucerne and Bern via the Uetliberg Tunnel (Zurich Western Bypass) on the A3.
Parking
6-level parking on the territory of the shopping mall. 24 hour access.
Public Transport
Easy access by tram, bus and train.
Layout
On the top of Four Points hotel: 400 sqm + terrace 200 sqm + 50 sqm office, 4 m high ceiling and possibility to have a separate entrance with an elevator.
Zurich Culinaryon Model
General Costs
Food & Beverage
Total cost is at 31 CHF per person includes: Food at 22 CHF, Wine at 7 CHF and Beverages at 1 CHF per person.
This is more than we see in other locations and does not take into the account potential sponsorships.
This is more than we see in other locations and does not take into the account potential sponsorships.
Marketing
We expect to spend 7.5% in online & offline marketing (on top of the promo events) in year 1 and 6.5% year 2, going to 5% after that.
For reference, we spent 3.8% in Spb in year 1 and spent 1.9% in Moscow.
For reference, we spent 3.8% in Spb in year 1 and spent 1.9% in Moscow.
Other Expenses
We expect to spend 10% in year 1, 7.5% in year 2, and 5% going onwards in other G&A expenses.
Based on the experience of other locations.
Based on the experience of other locations.
Rent 450 sqm
CulinaryOn is traffic generator and does not need premium location. Business model can pay the rent up to 10% rent from revenue. The target is 350 (max 400) chf/sqm/year rent + 60 chf/sqm/year maintenance, equal to 410-460 chf/sqm/year, with indexation (1%) from year 3.
CAPEX
1.5 mln CHF is reasonable for 450 sqm, even accounting Swiss costs.
For reference, in Saint Pete we invested 1.600 USD/sqm and in Bucharest 1.400 USD/sqm, targeting 2.500 USD/sqm in Warsaw.
For reference, in Saint Pete we invested 1.600 USD/sqm and in Bucharest 1.400 USD/sqm, targeting 2.500 USD/sqm in Warsaw.
CulinaryOn Team
Permanent Headcount: 8
Chefs and Sous Chefs, Event Masters & Cleaning, HR & Accounting
- General Manager
- 2 Sales Managers
- Operational Manager
- Executive Chef & Sous Chef
- Marketing Manager
- Assistant
Chefs and Sous Chefs, Event Masters & Cleaning, HR & Accounting
Estimated total investment of 1.5 mln CHF will be done as a shareholder loan, to be repaid before profit distribution.
Know-how package and IT will bear no royalties, but Culinaryon Global will receive 50% of equity for that. The remaining 50% will be received by a group of investors, split as follow: Culinaryon Global 10% of investment = 5% of equity, the rest 90% of investment = 45% of equity. Existing shareholders have priority investment rights over new investors.
We expect full return on Investment in 3.5 - 4 years.
If we use multiplier 6 the model shows 30% return on investment per year.*
If we use multiplier 4 the model shows 23% return on investment per year.*
*including compounded percentages
Know-how package and IT will bear no royalties, but Culinaryon Global will receive 50% of equity for that. The remaining 50% will be received by a group of investors, split as follow: Culinaryon Global 10% of investment = 5% of equity, the rest 90% of investment = 45% of equity. Existing shareholders have priority investment rights over new investors.
We expect full return on Investment in 3.5 - 4 years.
If we use multiplier 6 the model shows 30% return on investment per year.*
If we use multiplier 4 the model shows 23% return on investment per year.*
*including compounded percentages
