Business Plan for an Olive Oil Store Exhibits · business areas such as textiles, vegetable oils,...
Transcript of Business Plan for an Olive Oil Store Exhibits · business areas such as textiles, vegetable oils,...
Work Project, presented as part of the requirements for the Award of a Masters Degree
in Management from the NOVA – School of Business and Economics.
Business Plan for an Olive Oil Store
Exhibits
Ana Maria da Costa de Sousa de Macedo Schedel
#2248
A Project carried out on the Management course, under the supervision of:
Professor Sara Alves
May 2016
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12. Appendix
Exhibit 1 – The Sovena Group
Sovena Group is a Portuguese company owned 100% by the De Mello’s family. In the
beginning of the 20th century, Alfredo da Silva created the Companhia União Fabril
(CUF), the largest industrial, commercial and financial Portuguese group, covering many
business areas such as textiles, vegetable oils, shipbuilding, among others. Later, his
grandson, Jorge de Mello was awarded the agri-food business and after the 1974
revolution, he decided to make some strategic moves in order to consolidate the family
agri-food business in Portugal. In the 1980 and 1990 decades, many companies, within
the vegetable oils industry, were acquired such as Sociedade Alco, Fábrica Torrejana de
Azeite, Lusol, Tagol and Sovena. Some companies were in charge of extracting and
refining vegetable oils, producing soaps or even commercializing oils and soaps. In the
21th century, since the global market was expanding, the company saw the necessity to
increase its operations outside the country. It acquired a factory in Seville, responsible for
vegetable oil refining and bottling, especially olive oil. This move allowed the company
to attain a leading position in the Iberian Peninsula but, however, the group saw the
extreme necessity of delivering its products to a larger number of consumers, countries
and cultures. As so Simão & Companhia, the company holding Andorinha’s olive oil,
was acquired as well as East Coast Olive Oil (USA), Exoliva, a Spanish company devoted
exclusively to the preparation and packaging of olives and consequently exportation to
Russian, Middle East and Ukrainian markets and companies such as Tagol Ibérica de
Aceites (Spain), Biocolza, Sovena Middle East & North Africa (Tunisia), Elaia or even
Soprolives (Morroco) were created in order to give the group higher access to those
markets. The objective was to have a higher control over olive oil production process,
refinement and extraction activities as well as its packaging and commercialization. In
2007, the group also entered in the biodiesel business creating a company called
Agrodiesel, later integrated in Tagol. In 2008, the companies of the group were
reorganized and named under a single identity, Sovena Group, in order to have a more
unified corporate image. In 2010, Sovena was be able to close its olive oil value chain
while inaugurating the Largar do Marmelo, one of the biggest bets of private investment
in agriculture held in Portugal in the last 20 years. With more than 5000 m², the mill
would serve the production needs of the company, directly promoting Sovena’s olive oil
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brands. With this innovation, Sovena forecasted to produce 20 million liters of olive oil,
two thirds of the olive oil domestic production in 2005.
Exhibit 2 - Key Figures of Sovena Group
• 100% family owned company
• 8 factories and 4 Olive Oil Mills
• More than 1,300 employees
• Exporting to more than 70 countries
• Facilities in 8 countries in 4 continents
• Estimated Sales of €1.4Bn in 2015
• The largest olive oil company worldwide
• The largest private label OO supplier worldwide
• Market leaders in Portugal, Spain, USA, Central Europe…
• The largest Spanish olive oil exporter
• The largest olive grove on earth managed single handedly with more than 13.000
hectares of olive groves
Exhibit 3 - Sovena Group Business Areas1 3.1. Agriculture
This business area consists of exploring the company`s Olive Groves, in order to grow
olive groves and manage olive oil mills where the olives can be treated. It's a huge project,
one of the largest in the world, and it is already working in Portugal, Spain and Morocco.
However and since a company that calls himself a Glocal company is not interested in
being only in 3 of the largest olive oil producing countries, it will continue to expand until
achieving 25,000 acres (10.000ha) of olive groves, probably launching operations in
Argentina and Tunisia or even China.
3.2. Oilseeds
1 Sovena Group Website (Sovena Group, 2016)
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Olive oil has been very important in the company`s growth strategy but the origin of the
group is vegetable oils.
This business area encompasses the control of the overall value chain. In both the
Portuguese and the Spanish operations, Sovena sell seeds for planting and buy back the
production of farmers and then use to crush and refine vegetable oils.
Currently the largest independent European extractor and refinery belongs to the Sovena
Group.
The most privileged location is in Lisbon, on the entrance of the Tagus estuary, which
guarantees an easy operation for large capacity boats and therefore cost competitiveness.
The company source oils and seeds in the Ukraine, Argentina, France, Spain and Portugal,
amongst other markets, and supply mostly the Portuguese, Spanish and Angolan markets.
3.3. Consumer Goods
In each market new blends are created and then bottled and sell as products, which range
from olive oils to vegetable oils, table olives, vinegars and soaps.
The Factories are distributed around Portugal, Spain, the U.S.A. and Tunisia, but
commercial teams in Brazil and Angola are also present.
3.4. Biodisel
Despite not being the company`s core business, the use of vegetable oils to produce
biofuels brought the company into the energy business. Next to the largest refinery it was
built a biodiesel factory using the latest technology available.
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Exhibit 4 - Sovena Group Value Chain Sovena group consolidated its presence in key markets, due to its main
competitive advantage – the value chain. Sovena is the only player in the olive oil
market with a strong presence in all the steps of the Olive Oil Value Chain. This
unique business model offers Sovena and its trading partners first hand, unrivaled
market knowledge and know-how well beyond others.
Additionally, sourcing, industrial and commercial capabilities and geographical
locations are “best in Class” in the industry to efficiently and effectively serve the
company customers.
Exhibit 5 - Sovena Group worldwide presence map
Exhibit 6 - Sovena Group Products Sovena Group markets its products in more than 70 countries worldwide. The main
markets are Spain, USA and Brazil. The product portfolio includes seeds oils (mostly
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sunflower) and olive oils (packaged as well as in bulk), olives, soaps. Though an
important part of the business focuses on the manufacturing of oils with private brands
and the commercialization of oils in bulk, the company also markets a broad range of own
brands.
6.1. Olive oil and Production Process
The Mediterranean basin population have incorporated olive oil in their culture for a very
long time. Nowadays, the benefits of this diet are fully recognized. This leads to the
rediscovery of olive oil as a natural healthy product, with an important role to play in a
balanced diet.
Extra Virgin Olive Oil is the only vegetable fat that can be consumed in its natural state.
The extraction process retains all its properties, making this a healthy food that helps to
keep the organism balanced.
In general, Olive oil has been used for thousands of years, particularly by the
Mediterranean basin population. They were the ones who understood its nutritional value
and benefits for health very early on. Today, olive oil advantages have been scientifically
identified and explained. Olive oil is a healthy fat because it consists of mono-
unsaturated2 fatty acids, Vitamin E and pro-Vitamin A, essential nutrients for a balanced
diet. These are only some of the many reasons why nutritionists and other medical
specialists recommend olive oil in all diets - a basic product that is essential for healthy
eating.
Consumers, and the Portuguese in particular, are today much more open to new trends
and better informed about the needs of the human organism. Therefore, the consumption
of olive oil has increased considerably in recent years, particularly the best quality
segments such as Extra Virgin.
2 The mono-unsaturated fatty acids also help protect the heart and the skin.
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6.1.1. Olive harvest and transformation
Sovena Group and all its companies, follow a quality policy regarding the olives. Only
the olives that strictly follow its norms are received in the company`s factories. Therefore,
all the olive trees must have a special treatment meaning that they are selected carefully,
in order to produce a high quality olive oil. Then the maceration and crushing processes
release the olive oil inside the vegetable tissues of the olives. After these processes it is
obtain a paste which is pressed and decanted to produce virgin or extra virgin olive oils.
Receiving at the factory
The olives unloaded in the factories go through a careful quality control process. All the
olive oil which is bought is organoleptically tested based on previous samples. After the
olive oil is received, laboratory tests are made to guarantee that the olive oil quality
follows to the pre-established quality norms. These tests are made throughout the entire
production process. Then, the olive oil is classified in different lots depending on its legal
and organoleptic type.
Batch and Filtering
The virgin and extra virgin olive oil go directly for batching. Subsequently several types
of olive oil need to be blended (combined) to obtain each product's and markets` desired
flavor. There are various organoleptic tastings, in which a group of expert tasters critically
evaluates the flavor, smell and color of the olive oils. After the tastings, the olive oils are
filtered. The resulting olive oils have no impurities, they are crystal clear.
Refining
The olive oils that are neither virgin nor extra virgin are submitted to refining. This means
that they are neutralized, whitened and deodorized, turning their flavor and color
smoother, and removing any undesirable flavors or smells. After the refining, they are
ready to be combined with extra virgin or virgin olive oils to create what is legally called
"Olive Oil". Different quantities of the various olive oils result in organoleptic profiles
more adequate to different markets.
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Bottling
The factories offer all different types of olive oil, with capacities between 20ml and 5
liters, packaged in PET, PEAD, glass and tin. The diversity of the packaging available
for the company`s clients is one the many solutions that Sovena Group can present.
The last phase of the process is the secondary packing and shipping. The boxes where the
products are placed are grouped in pallets and then prepared for transportation to the
client.
6.1.2. Characterization of the different types of Olive Oils
Virgin Olive Oil – oils obtained from olives that have not undergone any treatment other
than washing, decanting, centrifugation, and filtration. Virgin oil is obtained during the
first pressing of whole olives.
Extra Virgin Olive Oil – obtained through the mechanical pressing extraction process
of the olives without being refined as in the case of the Virgin Olive Oil. This is a higher
quality Olive Oil with a free acidity of not more than 0.8 grams per 100 grams. It is the
best of virgin oils free of taste defects and with some fruitiness flavor;
Virgin Olive Oil - obtained through the mechanical pressing extraction process of the
olives. It has a free acidity, expressed as oleic acid, of not more than 2 grams per 100
grams. Type of oil suited for human consumption but may exhibit taste defects; Lampante
Virgin – Not fit for human consumption if does not incur further processing steps and
possesses flavor and odor defects.
Olive Oil – made from blending virgin and refined olive oil. Represents the majority of
global Olive Oil sales and hence fit for human consumption.
Pure Olive Oil – oil that has been refined into a not poisonous product yet it still preserves
the initial glyceridic structure of Olive Oil. It does not contain the same beneficial
nutrients that the virgin oil contains
6.2. Seed Oils
Vegetable oils are an important source of vitamins and essential for a diverse, balanced
diet. It is by consuming vegetable oil that the body can get the nutrients it needs and is
unable to produce, and which no other fat has in such abundant amounts. Other substances
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are also found in vegetable oil, in smaller amounts, such as phytosterols, which are known
to help reduce cholesterol. Containing no additives and being 100% natural, vegetable oil
is extracted from a variety of fruits and seeds.
6.3. Soaps
Soap is one of the most-used hygiene products around the world. Sovena`s soaps have
been part of daily life in Portugal for many decades with the brand Clarim. This brand is
undoubtedly the most well-known brand in this top quality range, with a wide variety of
uses and applications.
Exhibit 7 - Sovena Group Brands The strongest brands of Sovena are Oliveira da Serra, Andorinha, Fula and Olivari.
7.1. Olivari
Olivari olive oil is a product that reflects its Mediterranean origins. With unique
properties, acquired through a millennial tradition, Olivari olive oil is conceived to
accompany every meal.
This brand is considered to be the international brand of the group, being sold in all 5
continents. The international brand started in the USA, but other countries are currently
under negotiation and according to their geographic location the Olivari olive oil will
either be produce in Tunisia or Spain.
7.2. Oliveira da Serra
Market leader in Portugal for the past 5 years, Oliveira da Serra has more than 50 years
of existence. The brand currently possess more than 10.000.000 olives and an olive mill
with high technologies that guarantee the quality of the olive oils.
In a category that is extremely difficult to innovate and differentiate, since it is perceived
as a commodity, the brand was able to reinvent itself in the past few years. Innovations
like Pop Up Pourer and Olive oil in spray are some examples of the new brand strategy.
7.3. Andorinha
A Portuguese brand created in 1927, with great relevance in the Brazilian market. Since
2004 it disputes for leadership in this country. Consumer needs are taken into account via
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a perfect fit with its portfolio of products and packages. It is also available in the
Portuguese communities scattered around the world, mainly in the U.S.A., France, South
Africa, Mozambique and Macau.
7.4. Fula
The largest and most important brand of seed oils in Portugal. It has already 50 years old
and includes a wide range of products, always non-gmo3 and always 100% vegetable. It
is the market leader with more than 30% market share.
Exhibit 8 - Sovena`s major Worldwide and local Competitors
8.1. Deoleo Group4
Deoleo Group is world leader in the olive oil market, owning popular olive oil brands
such as Bertolli, Carbonell, and Carapelli. In Spain, Deoleo brand Carbonell, is the
domestic market leader. Carbonell is not just the leading brand on the olive oil market in
Spain, but is the bestselling brand in all types of oil and the Spanish brand of olive oil
with the highest sales in the world. Deoleo is also present on the Italian market through
brands such as Bertolli and Carapelli, leaders in the extra virgin olive oil and olive oil
segments. Bertolli is also leader in Germany, Netherlands and Belgium although
Carapelli and Carbonell have also large market shares. Carapelli is the bestselling foreign
brand in France. Both brands, Bertolli and Carbonell, stand out in Japan and Carapelli
and Carbonell are major brands in China.
The group is organized into several business units: Southern Europe, Spain, North
America and Other Markets. Deoleo sells its products in more than 80 countries. It also
has its own plants in Spain and Italy and its own commercial teams in another 10
countries.
8.2. SALOV Group5
SALOV, one of the largest companies in the olive oil sector worldwide, that operates
both nationally and internationally. The group owns the olive oil brands Filippo Berio
3 Non-GMO means non-genetically modified 4 Deoleo`s website 5 SALOV`s website (Salov Company, 2016)
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and Sagra. Filippo Berio is market leader in UK and in the USA, and the brand is exported
to 60 countries. The brand is also commercialized in China.
SALOV’s olive oil brand in Italy is Sagra, the brand is top seller in the olive oil and
vegetable oil categories.
8.3. Borges Group6
Owner of the olive oil brand Borges, the group follows the strategy of one single brand
all over the world (the same as Gallo Worldwide).
Borges produces a variety of olive oil. The company exports products to about 110
countries and offers private-label production services.
8.4. Dcoop Group7
Former Hojiblanca Cooperative Group – already the world’s biggest producer of extra
virgin olive oil. The Spanish group owns the brand Hojiblanca.
8.5. Gallo Worldwide
Gallo Worldwide is the one of the most notorious Portuguese olive oil brands and one of
the most famous worldwide. It works as an olive oil mixer and seller all over the five
continents. The company operates in the industry of oils and fats, particularly in the olive
oil subcategory, and it produces annually more than 30 thousand tons of olive oil, from
which 70% are exported8.Although its core product is olive oil the company also produces
vinegar and olive paste.
The group Jerónimo Martins owns 45% of the company together in a joint venture with
Unilever that owns 55%. Unilever-Jerónimo Martins priority is the Portuguese market,
mainly recovering the leadership position which has lost five years ago. However, Gallo
is the 5th olive oil brand in the world so targeting international markets is also a priority.
Although it is not, Gallo is perceived to be the first olive oil brand in Portugal and the
fifth worldwide from a top 10 ranking. The brand is commercialized all over five
6 Borges` website (Borges Company, 2016) 7 Dcoop Group website (Dcoop Group, 2016)
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continents, which accounts for a total of 49 countries with official offices located in
Portugal, Brazil and China (Gallo Worldwide, 2016)
Exhibit 9 - Market Analysis and Dimension
9.1. Portuguese Oils and Fats industry each category sales in the forecast period
from 2012 to 2017 in volume
Sub-categories (´000 Tonnes) 2012 2013 2014 2015 2016 2017
Butter 12.83 12.67 12.65 12.69 12.74 12.76
Cooking Fats 2.81 2.77 2.74 2.73 2.73 2.75
Margarine 7.02 6.94 6.94 6.91 6.88 6.91
Olive Oil 46.07 46.65 47.15 47.68 48.33 49.11
Spreadable Oils and Fats 16.26 16.17 16.12 16.14 16.23 16.44
Vegetable Seed Oil 71.77 71.81 71.91 72.03 72.24 72.96
Oils and Fats 156.74 157.00 157.48 158.15 159.15 160.93
9.2. Portuguese Oils and Fats industry each category sales in the forecast period
from 2012 to 2017 in value
Sub-categories (´EUR.Millions) 2012 2013 2014 2015 2016 2017
Butter 66.88 65.22 64.32 63.80 63.69 63.84
Cooking Fats 12.47 12.13 11.87 11.65 11.48 11.39
Margarine 18.19 17.63 17.27 16.96 16.68 16.45
Olive Oil 138.94 137.48 136.81 137.14 138.52 140.38
Spreadable Oils and Fats 67.82 66.57 66.06 65.92 66.05 66.28
Vegetable Seed Oil 83.43 81.24 79.81 78.79 78.11 77.78
Oils and Fats 387.74 380.28 376.15 374.26 374.54 376.11
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9.3. Olive Oil Consumption per capita in the EU countries in 2013
9.4. Olive oil Category - Market Shares Evolution in Portugal
Brands 2010 2011 2012 2013 2014 2015
Oliveira da Serra 17% 20% 19% 18% 21% 21%
Gallo 22% 19% 18% 17% 19% 19%
Condestável 5% 4% 3% 1% 2% 2%
Serrata 3% 3% 3% 2% 2% 6%
MDDs 29% 26% 16% 27% 28% 30%
1st Prices 15% 16% 29% 17% 13% 9%
Others 9% 12% 12% 18% 15% 13%
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9.5. Oils and fats industry in Portugal
Exhibit 10 - Oliveira da Serra
10.1 Brand Overview
Oliveira da Serra is a Sovena Group Brand, 100% Portuguese. Oliveira da Serra brings to
you the best olive oil selection, among which one of the most awarded olive oils of the
world.
The Olive Mill designed by Portuguese architect Ricardo Bak Gordon honors the
Portuguese olive grove and is a symbol of technology at the service of olive oil quality
and environmental sustainability.
10.1.1 Brand Pillars
Quality
Portfolio mainly consisted of extra virgin olive oils;
The Portuguese brand with more national and international awards - 200 awards;
Gold medal in the most prestigious olive oil contest - Mario Solinas;
Considered the World's Best Olive Oil Mills by the second consecutive year.
Innovation
Pop-up Pourer;
“Leve” concept;
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1st Portuguese Olive oil in Spray;
1st Portuguese Olive oil for frying;
Limited Edition to taste -1st Crop;
Olive oil for babies - Oliveirinha.
Competitiveness
Market Leader in Portugal;
Largest Olive grove in Portugal;
Leader in innovation;
Most awarded Portuguese brand in olive oil competitions;
Wide-ranging of olive oils with different organoléticos profiles;
100% Portuguese Brand
10.2 Brand Awareness
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10.3. Brand Portfolio
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Exhibit 11 - Benchmark 11.1. Oil & Vinegars Shop
About:
Oil & Vinegar is a concept store born out of a passion for good food and premium quality
ingredients. The first shop was opened in the Netherlands. But now it is possible to find
Oil & Vinegar shops across Europe, in the United States of America, Canada, Brazil and
Portugal. In Portugal the shops are located in CC Colombo and Campo de Ourique,
Lisboa.
11.2. Oliva & CO Shop
About:
The Oliva & Co is the first Portuguese store specialized in products from the olive trees
where you it is possible to find a wide variety of both the brand Oliva & Co or other
domestic producers. The store is located in Oporto.
11.3. Starbucks reserve roastery and tasting room
Seattle, USA – Dec 2014
About:
Interactive 1.400 square meters store dedicated to roasting, coffee education and
increasing availability of the company’s small-lot Reserve coffees; literally every Reserve
coffee bean sold to customers will be roasted in this facility.
The plan is to open at least 100 stores designed to highlight these rare coffees exclusively
starting in Chicago, Los Angeles, New York, San Francisco and Washington D.C. An
additional Roastery is planned for Asia in 2016.
Experience:
• 360 degree views from any point within the space;
• “Coffee Experience Bar” where baristas brew handcrafted beverages with six brewing
methods:
Pour Over, Chemex, French Press, Siphon, Espresso and Clover-brewed coffee;
• Coffee Library with more than 200 titles on coffee;
• Whole bean scooping table;
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• Gift shop;
• Scoop shop;
• Exposed roaster;
• Bar seating and lounging areas;
• Pizza restaurant by chef Tom Douglas inspired in coffee;
• “Clacker” board displaying what’s roasting and by whom;
• Coffee Passion Projection Wall made of smart glass displaying images of coffee at
origin;
11.4. La Maison Maille
Paris, France – 2007
About:
The original first boutique in Paris opened in 2007. The store concept borrows from the
codes of the kitchens of «grande demeure» in a experience based on discovery and tasting.
The space is organized around a central range cooker, which hosts a pump to serve fresh
mustard that the Maille Mustard Sommelier offers you to taste.
Gift sets and kitchenware complete the offer and place Maille on the same stage as reputed
gourmet maisons.
Experience:
• Selection of mustards drawn by hand into cork sealed pots;
• Maille mustards, vinegars, vinaigrettes, oils and cornichons;
• Luxurious tableware and unique gifts for food lovers;
• Mustard tastings;
• Cut-to-order domestic and international cheeses;
• Hand-crafted beers and spirits;
11.5. The Heineken Experience
Amsterdam, Holland – 1988 (redesign 2008)
About:
The brewery tour was designed to educate the public on the process of pilsner brewing as
well as to bringing the Heineken product and brand to life. The self-guided experience
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goes through a multimedia exhibit where you ‘become’ a beer by getting shaken up,
sprayed with water and subjected to heat. Tickets cost 16€ and admission includes a 15-
minute shuttle boat ride to the Heineken Brand Store near Rembrandtplein.
Experience:
• Museum and staging of the manufacturing process;
• Replica of the process of fermentation and bottling visitors explore beer point of view;
• Demonstration of how to take a beer and proof;
• Exposure of the evolution of advertising and brand;
• viewing room videos;
• Bottling and customization bottle;
• Meeting and events for rental;
• Music and football games;
• Visit the stables;
• Merchandising shop.
Awards:
• Best Tourist Attraction in Amsterdam (2009-2014)
• 2015 Certificate of Excellence Award
• Top Ten Must-Do’s in Amsterdam by USA Today
• 2014 Traveler’s Choice Award Trip Advisor
• 2008 THEA Award for Outstanding Achievement
• Consumer AV Interactive Media Installation of the Year
11.6. Guinness Storehouse
Dublin, Ireland – 2000 (redesign 2006)
About:
A Guinness-themed tourist attraction that covers seven floors surrounding a glass atrium
shaped in the form of a pint of Guinness. The ground floor introduces the beer’s four
ingredients (water, barley, hops and yeast), and the brewery’s founder, Arthur Guinness.
Other floors feature the history of Guinness advertising and include an interactive exhibit
on responsible drinking. The seventh floor houses the Gravity Bar with views of Dublin.
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Experience:
• Rooftop bar "The Gravity Bar";
• Restaurant "Brewers' Dining Hall" inspired by the cafeterias of the nineteenth century;
• Bar inspired by the typical Irish pubs "Arthur's Bar";
• Café bistrot "Gilroy's";
• Evidence the "Connoisseur Bar";
• Multi-sensory Evidence;
• Learn to serve a beer "Guinness Academy";
• Guinness advertising Museum;
• Exhibition on the history of the founder Arthur Guinness;
• Exhibition on the manufacturing process and transportation;
• Store Guinness with the largest collection of merchandising of the world;
• Spaces for events and catering.
11.7. WINERY – Cave, restaurant, expositions
Bordeaux, France – 2007
About:
A cellar containing 1700 wines from around the world, exclusive tasting sessions, a
“bistronomic” restaurant, excursions amongst the vines in a Land Rover, a 26-hectare
park, avant-garde architecture, concerts and shows… You can experience all this in a
single place, just a few miles from Bordeaux. The only site of its kind in Europe: La
Winery, the place where you discover your own Wine Sign!
Experience:
• Shop 650m² with French and foreign wines;
• Bar for tasting 16 wines and lunch menu;
• Interactive tasting;
• Tastings of Bordeaux;
• Tastings of grape varieties;
• Make your Bordeaux;
• Wine Bar
• Shop wines and gourmet products;
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• Le WY - Gourmet contemporary restaurant;
• Guided tour by jeep by vineyards and wineries;
• Educational and playful ride for clues and GPS "Discovering the Medoc";
Exhibit 12 – Store Pillars
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Exhibit 13 – Oliveira da Serra Stand (Mercado de Campo de Ourique) 13.1. Sales in Units (August 2015 – April 2016)
13.2. Average Sales in Units per time of the year
Period AUG
2015
SEP
2015
OCT
2015
NOV
2015
DEC
2015
JAN
2016
FEB
2016
MAR
2016
APR
2016 TOTAL
AZ OS AZEITE 0 0 24 24 0 0 24 0 0 72
AZ OS CLASSICO 24 24 0 12 0 12 0 0 0 72
AZ OS SELEC AZEITONAS VERDES 24 24 0 0 0 0 0 0 0 48
AZ OS VE AZEITONAS MADURAS 24 24 0 24 0 0 12 0 0 84
AZ OS CLASSICO 0 0 0 0 30 0 0 0 30 60
AZ OS OURO 24 24 0 0 0 24 0 0 0 72
AZ OS CLASSICO 12 12 0 0 0 0 0 0 0 24
AZ OS BIOLÓGICO 12 12 0 0 0 0 12 0 0 36
AZ OS SELEC AZT MADURAS 12 12 12 12 0 0 12 0 0 60
AZ OS OURO 12 12 12 12 0 0 12 12 0 72
AZ OS VE SPRAY Q.B. 0 42 0 0 0 0 0 0 0 42
AZ SAQ OS AZEITONAS MADURAS 0 20 0 20 0 0 0 0 0 40
AZ OS CLASSICO SUAVE 24 24 0 12 0 0 0 0 0 60
AZ VE LAGAR DO MARMELO 24 24 12 0 0 0 12 0 0 72
AZ OS EV GOURMET 0 24 36 12 0 0 12 12 36 132
AZ VE OS OLIVEIRINHA 12 12 12 0 0 0 0 0 0 36
AZ. VE OS ÚNICO 12 12 0 24 50 0 12 0 0 110
AZ OS VIRGEM 33% GRATIS 72 0 0 0 72 72 216 216 0 648
AZ VE OS 1ª COLHEITA 2015-2016 0 0 0 0 84 0 24 0 0 108
AZ VE OS ARBEQUINA 0 0 0 0 0 0 0 12 0 12
AZ VE OS COBRANÇOSA 0 0 0 0 0 0 0 12 0 12
AZ OS 1ªCOLHEIT 2015-16 PRATO 0 0 0 0 0 12 8 8 8 36
VINAGRE OS VINHO BRANCO 24 12 0 12 0 0 0 48 72 168
VINAGRE OS VINHO TINTO ENV 24 12 0 12 0 0 0 0 0 48
VINAGRE OS BALSAMICO 24 12 24 0 0 0 12 48 72 192
VINAGRE SAQ OS VINHO BR ENVELH 0 2 0 2 0 0 0 0 0 4
VINAGRE OS SIDRA 24 12 0 0 0 0 12 0 0 48
384 352 132 178 236 120 380 368 218 2 368
Units Sold according to different periods of the year
Jan - April 272
May- July 263
Aug - Oct 289
Nov - Dec 207
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Exhibit 14 - Financials 14.1 Expected Sales per month (2017 – 2021) in Euros
14.1.1 Product A – Olive Oil
14.1.2 Product B – Customizable Olive Oil
14.2 Expected COGS per month (2017 – 2021)
14.2.1 Product A – Olive Oil
14.2.2 Product B – Customizable Olive Oil
Sales JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC Total
2017 1 629 1 629 1 629 1 629 1 579 1 579 1 579 1 736 1 736 1 736 1 242 1 242 18 944
2018 1 645 1 645 1 645 1 645 1 594 1 594 1 594 1 753 1 753 1 753 1 863 1 863 20 351
2019 1 662 1 662 1 662 1 662 1 610 1 610 1 610 1 771 1 771 1 771 2 795 2 795 22 380
2020 1 678 1 678 1 678 1 678 1 627 1 627 1 627 1 789 1 789 1 789 4 192 4 192 25 342
2021 1 695 1 695 1 695 1 695 1 643 1 643 1 643 1 806 1 806 1 806 6 288 6 288 29 704
Sales JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC Total
2017 360 360 360 360 360 360 360 360 360 360 2 400 2 400 8 400
2018 364 364 364 364 364 364 364 364 364 364 3 600 3 600 10 836
2019 367 367 367 367 367 367 367 367 367 367 5 400 5 400 14 472
2020 371 371 371 371 371 371 371 371 371 371 8 100 8 100 19 909
2021 375 375 375 375 375 375 375 375 375 375 12 150 12 150 28 046
COGS JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC Total
2017 652 652 652 652 631 631 631 694 694 694 497 497 7 578
2018 658 658 658 658 638 638 638 701 701 701 745 745 8 140
2019 665 665 665 665 644 644 644 708 708 708 1 118 1 118 8 952
2020 671 671 671 671 651 651 651 715 715 715 1 677 1 677 10 137
2021 678 678 678 678 657 657 657 723 723 723 2 515 2 515 11 881
COGS JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC Total
2017 180 180 180 180 180 180 180 180 180 180 1 200 1 200 4 200
2018 182 182 182 182 182 182 182 182 182 182 1 800 1 800 5 418
2019 184 184 184 184 184 184 184 184 184 184 2 700 2 700 7 236
2020 185 185 185 185 185 185 185 185 185 185 4 050 4 050 9 955
2021 187 187 187 187 187 187 187 187 187 187 6 075 6 075 14 023
23
14.3 Average number of units sold per day in each month (2017 – 2021)
14.3.1 Product A – Olive Oil
14.3.2 Product B – Customizable Olive Oil
Units
per day JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC
2017 9 9 9 9 9 9 9 10 10 10 7 7
2018 9 9 9 9 9 9 9 10 10 10 7 10
2019 9 9 9 9 9 9 9 10 10 10 7 16
2020 9 9 9 9 9 9 9 10 10 10 7 23
2021 9 9 9 9 9 9 9 10 10 10 7 35
Units
per day JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DEC
2017 1 1 1 1 1 1 1 1 1 1 7 7
2018 1 1 1 1 1 1 1 1 1 1 10 10
2019 1 1 1 1 1 1 1 1 1 1 15 15
2020 1 1 1 1 1 1 1 1 1 1 23 23
2021 1 1 1 1 1 1 1 1 1 1 34 34
24
Exhibit 15 – Income Statement (Until 2021)
Exhibit 16 – Income Statement (Until 2021)
2017 2018 2019 2020 2021
Sales 27 344 31 187 36 852 45 251 57 750
COGS 11 778 13 558 16 188 20 091 25 905
SES 181 493 101 493 101 493 101 493 101 493
EBITDA -165 926 -83 864 -80 829 -76 333 -69 647
Depreciations 3 600 3 600 3 600 3 600 3 600
EBIT -169 526 -87 464 -84 429 -79 933 -73 247
Taxes
Operational Result -169 526 -87 464 -84 429 -79 933 -73 247
2017 2018 2019 2020 2021
Subcontracts 80 000
Specialized services
Specialized jobs
Advertising and marketing 20 000 20 000 20 000 20 000 20 000
Surveillance and Security 500 500 500 500 500
Fees 38 571 38 571 38 571 38 571 38 571
Supplies
Energy
Electricity and water 840 840 840 840 840
Travel, stay and transport
Transportation of goods
Other services
Incomes and rents 37 921 37 921 37 921 37 921 37 921
Communication
insurance 300 300 300 300 300
Cleaning, hygiene and
confort 3 360 3 360 3 360 3 360 3 360
TOTAL 181 492 101 492 101 492 101 492 101 492
25
Exhibit 17- Sample of the Business Plan (Until 2021)
2017 2018 2019 2020 2021
Marketing
Project design 55 000,00 €
Space Refurbishment 30 000,00 €
Space Decoration 15 000,00 €
Brand Activations 0,00 € 20 000,00 € 20 000,00 € 20 000,00 € 20 000,00 €
Total 100 000,00 € 20 000,00 € 20 000,00 € 20 000,00 € 20 000,00 €
Operational Costs
Rent 37 921,21 € 37 921,21 € 37 921,21 € 37 921,21 € 37 921,21 €
COGS 11 777,60 € 13 558,24 € 16 188,12 € 20 091,44 € 25 904,52 €
Personnel 38 571,43 € 38 571,43 € 38 571,43 € 38 571,43 € 38 571,43 €
Electricity, water 840,00 € 840,00 € 840,00 € 840,00 € 840,00 €
Insurances 300,00 € 300,00 € 300,00 € 300,00 € 300,00 €
Surveillance 500,00 € 500,00 € 500,00 € 500,00 € 500,00 €
Cleaning Maintenance 3 360,00 € 3 360,00 € 3 360,00 € 3 360,00 € 3 360,00 €
Total 93 270,24 € 95 050,88 € 97 680,76 € 101 584,08 € 107 397,16 €
Sales
Exclusive Product Sales 8 400,00 € 10 836,00 € 14 472,36 € 19 909,08 € 28 046,17 €
Product sales 18 944,00 € 20 350,60 € 22 379,85 € 25 342,25 € 29 703,59 €
Total 27 344,00 € 31 186,60 € 36 852,21 € 45 251,34 € 57 749,77 €