SUMMARY OF LITTLEST LOVE
Littlest Love is the premium bakery + bar that Nashville needs. With the opportunity to provide locals with a fresh concept, Littlest Love will provide highly unique flavor combinations through desserts, coffees and adult beverages during the week, and a bright, colorful brunch menu on the weekends.
The purpose of the space is to provide community around great food. Celebrating a special occasion or getting through a Tuesday should involve connecting with friends over a dirty martini and a piece of decadent blackberry-cornmeal cake.
Standard business hours would be Tuesday - Friday from 4pm-12am, Saturday - Sunday from 10am-12am.
MISSION STATEMENT PROVIDING NASHVILLE with THE PERFECT INDULGENCE
to provide a haven for creativity and personal growth
to treat every person with respect
to ensure the integrity of the product over monetary gain
History of the business
Littlest Love was incorporated as a Limited Liability Corporation (LLC) in July 2013.
The focus has always been on quality and uniqueness of the offerings, rather than one stand-out menu item.
Littlest Love began commercial operation solely online in July 2013 with the intent to open a retail space in a growing neighborhood in Nashville, Tennessee in 2017. From 2014 to 2015, Littlest Love increased sales revenue by over 500 percent by promoting via Instagram and pairing with local companies such as The Peach Truck, Jackalope Brewing Company, Rhizome Productions, 12 South Farmer's Market and Porter Flea. In 2016, Littlest Love saw a growing level of local support, and the entrepreneur is continuing the trend via Instagram and by developing an email list to share holiday specials and event opportunities.
MARKET & INDUSTRY ANALYSIS
Jillian and her husband, Nathan, are well-off freelance photographers. Jillian and Nathan just rented their condo in Murfreesboro to buy a three-bedroom house in East Nashville to fit their sweet, little family of four.
Tonight is date night. The sitter arrives at 7pm.
DATE NIGHT EVENTS
7:30pm - They clink over cocktails and order dinner.
9:00pm - The waiter inquires about the dessert menu, to which they decline because they'd like to go for a walk and let dinner settle.
9:30pm - They finish walking around Germantown.
9:31pm - Jillian wants something sweet, and they have the sitter until 11pm. But Jillian and Nathan don't know where to go.
Jillian is Littlest Love's target market. She is young and educated. She shops locally and has expendable income. And she needs somewhere to grab a drink and share a dessert with her husband on their first date-night in months. Where do they go?
To date, Nashville does not have many options that meet this need for consumers like Jillian. Bars don't offer dessert. Restaurants are busy. Ice cream shops are bright and lack a romantic atmosphere.
Littlest Love is seeking to fill that void.
the industry. If you've tried to make a day-of reservation for dinner at Cityhouse, Josephine, Rolf and Daughters or the like, you know it's impossible. Nashville is insatiable, and food concepts can't pop up fast enough. An article written last year in Food & Wine by John T. Edge, "Nashville's Restaurant Scene Goes Boom" says it all. The food scene is seeing a rise in new concepts, both with new chefs and those making a splash in the food scene in other cities. But as the article references, people are tired of the generic "Southern" tribute. Barn wood bars and hot chicken doused-menus from the past five years are looking to be traded in for freshly roasted vegetables, custom tile patterns and a menu built for a more adventurous palate. As Edge quotes:
"This is a New South city, welcoming all who respect this place and its institutions, all who do more than plaster walls with reclaimed wood and set tables with Mason jars."
Littlest Love is looking to do just that: Embrace the New South, while respecting Southern traditions. Those traditions being embracing community, ensuring charm and southern hospitality, all while and baking decadent, buttery desserts.
While full-service restaurants such as Cityhouse and Josephine offer incredible fare, the environment limits the amount of time a patron can enjoy their stay. And if they sit at the bar, they limit themselves to the group size. Littlest Love provides a hub for those leaving their dinner spot to enjoy one more cocktail, or share a dessert amongst friends.
Dozen Bakery, Mas Tacos and other limited-menu options are popping up to meet a new demand: specialty foods and drinks. These competitors provides quality and originality to the Nashville community. However, none provide the same product mix, ambiance and hours of operation. Littlest Love provides that "third spot" - not home, not a restaurant or loud bar - that people are looking for after a long day or a much awaited celebration!
Possibly most importantly and most overlooked is the competition to stay home. Post-dinner competition at first glance is limited to bars and restaurants, of which consumers may have already been to that evening. Instead, the entrepreneur sees post-dinner competition largely as the option to go home. After a long day or an expensive dinner, the option to continue a night out might be less appealing. To answer to that, Littlest Love is seeking a retail location within walking distance to restaurants, to provide consumers with ease and convenience, as well as offering the option to purchase items a la carte and/or to-go.
price. Value-based pricing was determined to be the best pricing strategy for Littlest Love to ensure the high quality is not only enjoyed, but perceived, by the consumer. Based on these assumptions, average ticket price is estimated at $15pp.
promotion. Littlest Love will continue a content marketing approach that focuses on offering value to consumers through pushing content that provides entertainment and useful information. Examples include utilizing social media sites (Instagram, Facebook, and Twitter) and providing a blog on the Littlest Love website offering news, recipes and other useful content. Additionally, search engine optimization (SEO) will continue to be utilized on the Littlest Love website.
Additionally, the entrepreneur has developed relationships with local food bloggers, food writers and other food business owners, who are trendsetters in Nashville’s food scene.
placement. Littlest Love’s products are offered via local pick-up or delivery in the Nashville area via the Littlest Love website and through local events such as Porter Flea, 12 South Winter Warmer, and Yum! East. In 2015, Littlest Love was in The Peach Truck's Mother's Day boxes - which shipped nationwide.
Littlest Love’s current goal is to launch a retail bakery and bar in a growing Nashville neighborhood. A location will be chosen based on popularity amongst the target market, and the concentration of complimentary commercial space, such as clothing boutiques, local goods shops, art galleries, bars and restaurants.
product. Littlest Love’s product mix includes a seasonally adjusted menu of plated desserts, coffee and an assortment of craft beer, wine and cocktails. The most important factor regarding the company’s product mix is to provide consistency and quality with an emphasis on creativity and innovation.
Fundamentally consistent products such as a cookie plate, key lime pie, and "birthday" cake will be offered, as well as seasonal and innovative varieties. A unique play on all of these products is an integral part of Littlest Love’s product strategy. For example, offering peach cake during summer months would give customers something to look forward to or splurge on due to its limited availability. Additionally, seasonal or daily specials could entice both new and return customers. Below is a sample menu.
flavored popcorn, 5
avocado hummus & veg, 10
homemade pickle plate, 6
tequila moonrise | milagro blanco, house lavender lemonade, creme de violette, coconut la croix, rosemary, 10
john daly | bulleit bourbon, house fruit tea, tiki bitters, lemon, 10
the ginger | st. george gin, dolin rouge, campari, lemon, ginger ice cubes, 10
beer, 5 | jackalope, smith & lentz, yazoo, cider
wine, 10/35 | 3 reds, 3 whites, 1 rose, 1 champs
spiced banana cake, tangy avocado frosting, 9
salted honey chocolate tart, lavender graham crust (v), 10
cookie plate (oma, chocolate chip, rosemary shortbread, trail mix, cornmeal b+w), 9
seasonal fruit pie, rosemary whip, 9
tart key lime pie, cookie butter crust, dark chocolate dip, 10
cornmeal skillet cake, seasonal fruit, rosemary whip (gf), 9
'fetti cake, salty vanilla frosting, rainbow sprinkles, 9
churro muffins, mexican chocolate sauce, 8
chewy maple brownie, raspberry fluff, 8
peanut butter cake, salty chocolate frosting, spiked ganache, 10
browned carrot cake, salted caramel cream cheese frosting, 10
cinnamon buns hun, 6
english muffin breakfast sandwiches, 10
avocado toast, 10
sweet potato hash, poached eggs (2), kale, 10
house cereal + milk (2% or almond), 8
challah french toast, rosemary whip, 9
tomato galette, 9
aged cheddar grits, shredded brussels, roasted tomato, poached egg, 12
drip coffee or cold brew + baked basket, 10
rosemary shortbread + rose, 14
chewy maple brownie + jackalope bearwalker, 10
tequila moonrise + tart key lime pie, 16
drip coffee, 3
cold brew, 3
cafe con leche, 4
flat white, 5
[milk options: 2%, almond]
brickS + MORTAR
the bricks. Utilizing a space of between 1500–2500 square feet, Littlest Love’s basic spatial requirements are a bar, seating for a minimum of 40 patrons, and a full pastry kitchen. Based on those needs, Littlest Love will require a grease trap and hood ventilation, and an estimate of $100,000 for construction costs for the build out.
INITIAL STAFFING NEEDS
- Full-time pastry chef (1)
- Front of house (5)
- Pastry/Line cooks (3)
- Bartenders (2)
- Bar backs (2)
- Store manager (1)
- Consulting staff: Accountant, Lawyer, Financial Counsel
- 20-quart stand mixer
- 7-quart stand mixer
- Double convection oven
- Two (2) utility tables
- A low boy
- Rented refrigerators/freezers
- A 3-compartment sink + hand-washing sink
- A hand-washing sink
- Stove/Griddle burners
the business. The entrepreneur brings forth a strong balance in education to run a retail food business. A passion for designing, baking and innovating recipes are equalized by a business acumen cultivated by the guidance of the Belmont University MBA program. Additionally, the entrepreneur’s background in engineering and management consulting has provided a strong capability for developing efficient operations and adapting to growth opportunities.
On the marketing side, Littlest Love has increased engagement via Instagram, going from a few hundred followers to over 3,000 followers, all organically and with a focus on Nashville residents. As the business' only marketing outlet, this has developed an increase in sales by 70 percent from 2015 to 2016 YTD.
investing. With an ask of roughly $400,000, the entrepreneur is seeking private investment and offering up personal investment. As is shown in the breakdown to the right, initial investment is largely for 6 months of operating costs, making up over half of the requested dollar amount.
The entrepreneur sees boosting sales via public relations outreach and a growing relationship with the community. While the entrepreneur is confident in the projected figures, Littlest Love is seeking an SBA loan to be used for growth opportunities, as well as for unpredicted, worst-case scenario issues such as environmental damages or burglary.
Percentage of Sales
operating. Financial projections for Littlest Love show a successful business within the first year, estimating positive cash flow from the get-go, based on the conservative assumption of 200 units sold daily. Estimates are based on a combination of field research that includes interviewing restaurant owners, calling sales representatives and calculating current food costs. Based on these projections, Littlest Love is presuming payroll costs and food costs to be 35% and 26% of sales, respectively. In the first year, the entrepreneur is estimating a gross profit margin of 20 percent.
The request for a financial buffer for six months of operating costs provides Littlest Love with an opportunity to work through any mechanical, technical or human resources issues without risking negative cash flow.
Estimated monthly total ROI in the first year for all private investment is $4,000, which is roughly 46 percent of profit.
If you'd like to inquire about investment, partnerships or real estate opportunities, please email firstname.lastname@example.org. Thank you!
The images below are borrowed images, and not taken by the entrepreneur. They have been gathered over the course of the last year, through travel and field research. The entrepreneur has challenged herself to consider a lasting vision, one that evokes community, harmony, creativity, simplicity, integrity, cleanliness and a touch of edginess. Each image's caption provides a unique explanation of what piece of the image the entrepreneur would like to consider when creating Littlest Love.