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Rosa’s Jams and Jellies
Rosa’s Jams and Jellies is a jelly company using natural preserves to make homemade products. The recipes used to produce the preserves have been in the Green family for over 100 years. The flavors will be apple, pear, and peach jellies. The name of the company is derived from my grandmother’s first name. She also manufactured and sold jams and jellies to family and friends and occasionally at local markets. The products will be made and jarred from my home located in Powder Springs, Georgia.
In order to start Rosa’s Jams and Jellies it will take $25,000 of personal savings and another $25,000 from parents and an uncle will donate another, in order for Rosa Green’s legacy to carry own. With all taken into consideration $50,000 will allow a great start for the business. I have done plenty of research as well as continuing my research of other companies selling similar or alike jams and jellies; allow me to make some comparison decisions as to how I will price and jar the products. I understand that I must stay within my budget, therefore I will use cost effective strategies. I will start by researching the cost of jams and jellies in the surrounding areas from high to low end.
Rosa’s Jams and Jellies is a new homemade preserve company that will be serving Georgia, Alabama, Mississippi and Louisiana. The company will be based out of Powder Springs, Georgia, with a focus on distributing to Cracker Barrel restaurants and mom and pop shops along major interstates; however consumers will be able to order from the website. I will market to women ages 45 to 75 years of age. Rosa’s Jams and Jellies will offer eight ounce jars of homemade peach, pear and apple preserves.
It will be imperative that I keep the operation within my capabilities being that I will continue to work my full time job. Rosa’s Jams and Jellies will be managed by me and my spouse and two teenage sons will assist me with the operation of the business. Once I get the business up and running, I will begin making the preserves during evening hours, because of the cool temperatures at night. This gives the jellies enough time to cool down at room temperature and the preserves will be placed into jars.
Rosa Jams and Jellies intend to offer same-day and overnight service for all orders placed before 1 p.m. Monday through Friday. I will only use fresh fruit from local growers in Georgia in order to make the products. While my prices maybe lightly higher than some of my potential competitors, I intend to provide both a higher quality product and standard shipping through FedEx. I also intend to offer an unconditional money-back guarantee for any product that does not satisfy the customer.
Rosa’s Jams and Jellies mission is to provide homemade preserves apple, peach, and pear to local consumers, companies, and tourists in four southern states Louisiana, Mississippi, Alabama Tennessee, the Carolinas and Georgia.
Rosa’s Jams and Jellies vision is to become the largest homemade preserve retailer in the south.
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The price of the preserves was derived from cost of goods to make the product and the competitors’ prices. After extensive research of our competitors, I was able to determine that their prices ranged from $3.99 to $8.95. There is a certain amount of price competition at the low end of the market, driven by Madison Jam Factory heavy advertising campaign. Rosa’s Jams and Jellies sees this segment of the market as a loss leader, and at some point I plan to meet our competitors’ advertised prices in order to create long-term, loyal customers. Moreover, Madison Jam Factory does not offer same day and next day services and does not distribute to restaurants or mom and pop shops; I intend for this to be Rosa’s Jams and Jellies “bread-and-butter”
The following is an analysis of other homemade preserve companies that accepts orders online. There are 10 “homemade preserve” competitors in the metro area several of them ship to all 50 states; however, there was no information found that they distribute to restaurants such as Cracker Barrel. Approximately 20 percent of these shops are located within the state of Georgia. The closest competitor to Rosa’s Jams and Jellies is Byron Plantation located in Vidalia Georgia. They do not offer a combination of quality service, desirable flavors, and affordable prices that Rosa’s Jams and Jellies have. My company will be the only homemade preserve manufacturer in Powder Springs, Georgia, which will allow customers in the metro area to receive their product the same day. Although, I understand there are several homemade preserve manufactures with similar or same flavors, I intend to wow my clients with a recipe passed down for several generations as well as world class customer service.
Rosa’s Jams and Jellies intend to offer same-day and overnight service for all orders placed before 1 p.m. Monday through Friday. Fresh fruit from local growers in Georgia will be used to make the products. While my prices will be slightly higher than some of our competitors, this will provide both higher quality and standard shipping through FedEx. Plus, I intend to offer an unconditional money-back guarantee for any product that does not satisfy the customer. Each homemade preserve manufacture operates in isolation, and not many companies have enough market shares, resources, or influence to react strongly to new entrants. So, the success of the company will be as well as the competition.
Rosa’s Jams and Jellies will market to women between the ages of 45-75 years of age. I will market to these women in the southern states of Georgia, Alabama, Tennessee, Mississippi, Louisiana and the Carolinas. They will be of all income levels.
Monthly sales will be the largest indicator for Rosa’s Jams and Jellies. There are some seasonal variations with the spring and winter months being the highest sales months. Rosa’s Jams and Jellies financial picture is quite promising, being that I will be operating a cash business; the initial cost is significantly less than many other businesses these days. The process will be labor intensive and all investors understand that I will have to put in a lot of manual work for the first couple years. For the purpose of our master budget, I will initially operate business from my residence. There will be a minimum of inventory on hand in order to keep the products fresh and to take advantage of price drops, when and if they should occur. I will maintain a relatively stable amount of inventory at all times in order to keep the produce fresh there will not be no more than one week of inventory on hand, and not less than two weeks. The only time I will be holding more inventory is if there is some catastrophic event that would cause a dramatic rise in the price of our preserves.
Rosa’s Jams and Jellies anticipate the initial combination of investments and sales of $50,000 to carry it without the need for any additional equity or debt investment. This will mean a steady growth for my business, but it will be a solid, financially sound growth based on customer request and product demand. This is all based on the economy being consistent, and without a major recession.
Financial Data and Projections
Monthly sales will be the largest indicator for Rosa’s Jams and Jellies. There are some seasonal variations with the spring and winter months being the highest sales months. Rosa’s Jams and Jellies financial picture is quite promising, being that we will be operating a cash business; the initial cost is significantly less than many other businesses these days. The process will be labor intensive and all five partners understand that we will have to put in a lot of manual work for the first couple years.
For the purpose of our master budget, we will initially operate business from one of our partner’s residence. There will be a minimum of inventory on hand so as to keep the product fresh and to take advantage of price drops, when and if they should occur. We will maintain a relatively stable amount of inventory at all times. In order to keep the produce fresh there will not be no more than one week of inventory on hand, and not less than two weeks. The only time we will be holding more inventory is if there is some catastrophic event that would cause a dramatic rise in the price of our preserves.
Rosa’s Jams and Jellies anticipate the initial combination of investments and sales of $110,344 to carry it without the need for any additional equity or debt investment. This will mean a steady growth for our business, but it will be a solid, financially sound growth based on customer request and product demand. This will all depend on the economy being consistent, without major recession.
During the first three years we expect the growth in sales to exceed 2.3% each year. Rosa’s Jams and Jellies expects to keep gross margin above the 2.3% projected for the first year, however we do not anticipate anything higher than 5%, since our payroll expenses will at some point increase substantially as we grow into new areas and face our competitors.
Rosa’s Jams and Jellies calculated the fixed cost of annually sales to be $1,100. Using the average price per unit, less the average cost per unit, divided into the fixed costs of operation, we project that we will need to sell at least 238 units annually to reach break-even at $3,158 the first year.
Rosa’s Jams and Jellies is expecting some dramatic growth in the next three years, reaching $65,112 in sales and a 0.35% Gross Profit Margin by the end of the first year. Expenses during the first year will be roughly $3,000 leaving a Net After-tax loss of $8,400. This will provide Rosa’s Jams and Jellies with revenue for the second year of $26,334. We anticipate sales to increase by nearly 20% in the second year, due to the addition of two more flavors (strawberry and grape), reaching a total of $26,334, with a Gross Profit Margin of 6.0%.
Our third year, we expect to break into markets outside of Cracker Barrel and mom and pop shops. We will market to grocery stores and other family style restaurants; we will also market outside of Georgia, Alabama, Mississippi and Louisiana. This will drive sales to $30,268 and, even with a 0.89% increase in production costs, help reach a Gross Profit Margin of 12.7%. During this year we expect several expenses to take substantial jumps (i.e.… advertising increasing from $300 to $813 and administrative from $2000 to $3,027). Also, at this time we will be hiring employees to help us keep up with the demand. These increases, as well as those for increased equipment leases and rents, will raise our operating expenses to $4540 from $3000.
Rosa’s Jams and Jellies cash flow will have to be carefully monitored, as in any business; all five investors will be the beneficiary of operating the business. After the initial investment and start-up costs are covered, we anticipate Rosa’s Jams and Jellies will become relatively self-sustaining. With the exception of seasonal dips, which we have attempted to account for, by adding more flavors.
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