Matcha + Coffee Shop
New York, NY
First-time entrepreneur Michelle Gardener approached HPI with an idea for a matcha tea and coffee café concept. Michele was engaged in lease negotiations for a small space on Seventh Avenue in the West Village and was seeking advice on the project’s feasibility and guidance on how to move forward.
The client’s budget was limited but the risk involved for her was not. While HPI did not take a deep dive into the project, we did create a scope and agreeable monthly retainer focused on concept refinements, design guidance, kitchen planning and financial projections. We dubbed the arrangement our “Sherpa Service.”
In weekly meetings, onsite and off, HPI provided, market insights, advice on the lease negotiation; participated in the development of the store’s design; planned the kitchen and menu offering; specified the bidding process; developed a staffing plan; and shaped the critical pre-and post-opening sales and expense pro-formas.
This collaborative relationship educated the client to the thousand-fold details—regulatory, organizational, operational, and financial—involved in a restaurant opening, while allowing her to employ her career strengths in marketing and business. The project opened successfully and climbed to the projected sales and earnings within the first four months.
The estimated savings to the client on the initial investment delivered through HPI’s involvement and counsel amounted to approximately 15%, or approximately twice the total fee paid HPI during the development.
– Experience path development + mapping
– Operational functionality + facility design advisory
– Design + experience guidance
– Start-up strategy + pre-opening planning
– Due diligence + feasibility studies
– Financial projections + budget pro forma