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Financial Modeling for Farina, the Restaurant + Wine-Focused Subscription Concept

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Project Synopsis

Hive Hospitality is building a blended subscription + retail concept called Farina. In addition to having physical stores, Farina will offer a wine-focused subscription. They need your help launching the business, including financial modeling paying careful attention to metrics like  Customer Acquisition Cost, (CAC) and Lifetime Value (LTV). They’re also hoping you can help inform budgets for personnel, technology, and marketing. They also need to understand how their flagship locations will differ from the subscription model in terms of revenue and resources required. Should the business have two different P&Ls? What resources can they plan to share vs. what resources need to be individually itemized? Is the concept as synergistic and scalable as they think? What are the pros and cons of opening two stores (one in the Reston Town Center next to the Audi / Volkswagen HQ and one in Arlington next to Amazon) at launch instead of one?

Project Topics

Company Information

CompanyHive Hospitality
HQWashington, DC
RevenueUnlisted
Employees50-100
StageHigh-Growth Startup
Hiring PotentialFollow-on Projects, Formal Internship, Entry Level Full-Time, Upper Level Full-Time
Websitehttps://www.brescadc.com/

Company Overview

Hive Hospitality is a Washington, D.C. based hospitality group with multiple restaurants and growing. Our team represents a diverse range of backgrounds & expertise – from building profitable businesses ground-up, to delivering award-winning full-service guest experiences – we are passionate professionals pioneering the future of hospitality. We're excited to expand our footprint of award-winning food & beverage concepts and best-in-class experiences.

Experiential Learning Program Details

SchoolWashington University of Virginia
Engagement Format -
CourseBUS 700 Business Research (Capstone) – Fall 2021
Level
  • All Graduate
Students Enrolled30
Meeting Day & TimeTuesdays, 2:20pm - 4:50pm
Student Time Commitment4-7 Hours Per Week
Company Time Commitment3-5 Hours
Duration14 Weeks

Program Timeline

Touchpoints & Assignments Due Date Type
REMINDER OF CONFIDENTIALITY

REMINDER OF CONFIDENTIALITY

During this program, you'll be working on a real project posed by a real industry partner. By registering for the CapSource system and participating in this Program, you are bound by the Rules of Engagement, including strict confidentiality of information shared with you. Please be respectful and professional.
August 28th, 2021 Event na
KICKOFF ASSESSMENT DUE

KICKOFF ASSESSMENT DUE

Survey link: https://forms.gle/1RU5M8qZfL9hWKXW8
August 29th, 2021 Evaluation evaluation
PROJECT KICK-OFF

PROJECT KICK-OFF

Zoom: Meeting ID: 828 7747 6211 Passcode: 512419 https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09
August 31st, 2021 Event na
Check-In #1 with FARINA (Groups A & B)

Check-In #1 with FARINA (Groups A & B)

2:30-3:00pm (A1) / 3:00-3:30pm (A2) / 3:30-3:50pm (B1) / 3:50-4:10pm (B2) / 4:10-4:30pm (B3) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
September 7th, 2021 Event na
Upload DELIVERABLE #1 File(s) [Groups A&B] Upload DELIVERABLE #1 File(s) [Groups A&B]
Upload presentation file and written file (if one) to CapSource website.
September 14th, 2021 Submission Required submission-required
DELIVERABLE #1: Q&A With FARINA LEADERSHIP (Groups A & B)

DELIVERABLE #1: Q&A With FARINA LEADERSHIP (Groups A & B)

Deep dive on concept, the market and competitive analysis. Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
September 14th, 2021 Event na
TEMP CHECK #1 DUE

TEMP CHECK #1 DUE

Survey link: https://forms.gle/E5HB3DSt4YbXykCz6
September 21st, 2021 Evaluation evaluation
Check-In #2 with FARINA (Groups A & B)

Check-In #2 with FARINA (Groups A & B)

2:30-3:00pm (A1) / 3:00-3:30pm (A2) / 3:30-3:50pm (B1) / 3:50-4:10pm (B2) / 4:10-4:30pm (B3) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
September 21st, 2021 Event na
FACULTY / TEAM CHECK-INS (All Teams)

FACULTY / TEAM CHECK-INS (All Teams)

2:30pm - 2:45pm: All Teams Check-In (Dr. Chase) 2:45pm - 4:30pm: Individual Team Meetings (Team Leaders) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
September 28th, 2021 Event na
DELIVERABLE #2: PRESENTATIONS (All Teams)

DELIVERABLE #2: PRESENTATIONS (All Teams)

GROUP A: Present Financial Modeling Plan to Farina Leadership (Deliverable #2) GROUP B: Competitor Marketing Brief + Presentation (Deliverable #2) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
October 5th, 2021 Event na
Upload Deliverable #2 Presentation files (ALL TEAMS). Upload Deliverable #2 Presentation files (ALL TEAMS).
Upload presentation and written files (deliverables) to CapSource.
October 5th, 2021 Submission Required submission-required
FACULTY / TEAM Check-Ins (All Teams)

FACULTY / TEAM Check-Ins (All Teams)

2:30pm - 2:45pm: All Teams Check-In (Dr. Chase) 2:45pm - 4:30pm: Individual Team Meetings (Team Leaders) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419
October 12th, 2021 Event na
TEMP CHECK #2 DUE

TEMP CHECK #2 DUE

Survey link: https://forms.gle/8AvLiVJNnuL4DyFy8
October 13th, 2021 Evaluation evaluation
Check-In with FARINA (Groups A & B)

Check-In with FARINA (Groups A & B)

2:30pm-4:30pm  - All teams meet with Farina for Check-In. Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
October 19th, 2021 Event na
FACULTY / TEAM Check-Ins (ALL TEAMS)

FACULTY / TEAM Check-Ins (ALL TEAMS)

2:30pm - 2:45pm: All Teams Check-In (Dr. Chase) 2:45pm - 4:30pm: Individual Team Meetings (Team Leaders)   Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419
October 26th, 2021 Event na
Upload Deliverable #3 Presentation & Written Files (ALL TEAMS) Upload Deliverable #3 Presentation & Written Files (ALL TEAMS)
Upload presentation and written files (deliverables) to CapSource.
November 2nd, 2021 Submission Required submission-required
DELIVERABLE #3: PRESENTATION (All Teams)

DELIVERABLE #3: PRESENTATION (All Teams)

Group A: Present Preliminary Working Financial Model (Deliverable #3) Group B: Present Your Comprehensive Marketing Plan (Deliverable #3) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
November 2nd, 2021 Event na
FACULTY / TEAM Check-Ins (ALL TEAMS)

FACULTY / TEAM Check-Ins (ALL TEAMS)

2:30pm - 2:45pm: All Teams Check-In (Dr. Chase) 2:45pm - 4:30pm: Individual Team Meetings (Team Leaders) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
November 9th, 2021 Event na
TEMP CHECK #3 DUE

TEMP CHECK #3 DUE

Survey link: https://forms.gle/X3xki8eDpfb9Q5KK9
November 12th, 2021 Evaluation evaluation
Check-In with FARINA (Groups A & B)

Check-In with FARINA (Groups A & B)

2:30-3:00pm (A1) / 3:00-3:30pm (A2) / 3:30-3:50pm (B1) / 3:50-4:10pm (B2) / 4:10-4:30pm (B3) Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
November 16th, 2021 Event na
NO CLASS - Thanksgiving Break

NO CLASS - Thanksgiving Break

 November 23rd, 2021 Event na
DELIVERABLE #4: FINAL PRESENTATIONS (Group A)

DELIVERABLE #4: FINAL PRESENTATIONS (Group A)

Present Improved Financial Model with KPIs and Dashboards for Farina Concept (Deliverable #4).   Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
November 30th, 2021 Event na
Upload Final Presentation & Written Deliverable #4 files (Group A). Upload Final Presentation & Written Deliverable #4 files (Group A).
Upload presentation and written files (deliverables) to CapSource.
November 30th, 2021 Submission Required submission-required
DELIVERABLE #4: FINAL PRESENTATIONS (Group B)

DELIVERABLE #4: FINAL PRESENTATIONS (Group B)

Present Comprehensive Marketing Plan with Launch Strategy (Deliverable #4).   Join Zoom Meeting https://us02web.zoom.us/j/82877476211?pwd=b2ZhL2FQR1BvUTA1ZkxkUHU1QlBWUT09 Meeting ID: 828 7747 6211 / Passcode: 512419 One tap mobile +13017158592,,82877476211#,,,,*512419# US (Washington DC) +16465588656,,82877476211#,,,,*512419# US (New York) Find your local number: https://us02web.zoom.us/u/kbCxa9CRE
December 7th, 2021 Event na
Upload Final Presentation & Written Deliverable #4 files (Group B). Upload Final Presentation & Written Deliverable #4 files (Group B).
Upload presentation and written files (deliverables) to CapSource.
December 7th, 2021 Submission Required submission-required
FINAL SELF ASSESSMENT DUE FINAL SELF ASSESSMENT DUE
Survey link: https://forms.gle/bXxZA1K4hvguMM1j9 Please complete the Final Self-Assessment. Please take time to honestly answer these.
December 12th, 2021 Submission Required submission-required
FINAL PEER ASSESSMENT DUE FINAL PEER ASSESSMENT DUE
Survey link: https://forms.gle/xdRbuYz3m75kmm1R7 Please take time to thoughtfully answer this Peer Assessment of your teammates. Your responses will be part of the collective assessment (grade) of your fellow team members. This is your opportunity to help Dr. Chase assess the contribution of your fellow students throughout this entire course. IMPORTANT: You need to fill out a separate assessment for each member of your team (i.e. 5 team members = fill out 4 assessments (you + 4 = 5). For "Your College/University" put "WUV" For "Name of Company/Organization your worked with" put "FARINA" For ""What is the title of the project you worked on?" put your team name, i.e. "Team A1 (Kelly)" or "Team A2 (Murat)" or "Team B1 (Surendra)" or "Team B2 (Nuttima)" or Team B3 (Onon)".
December 12th, 2021 Submission Required submission-required

Key Project Milestones

  • September 14, 2021 - Deep Dive on Concept, the Market and Competitive Analysis

    • What’s the difference between brick and mortar retail vs. subscription models?
    • How does this materialize with food service companies?
    • What companies have been able to accomplish both within one model? (See Cooper’s Hawk as good reference)
    • Who are the top players in subscription food service?
    • What about subscription wine and spirits?

    Suggested Deliverable:

    Prepare for Q&A with Farina Leadership

  • October 5, 2021 - Understanding Financial Model for Restaurants and other Food Service Concepts

    • What components need to be included in the financial model?
    • Deep dive into financial documentation from other Hive concept. How will Farina’s financial model be similar or different?
    • What assumptions need to be made? What data do you already have to produce thte model? What data do you need that you don’t yet have?

     


    Suggested Deliverable:

    Develop a Financial Modeling Plan, Present that to Farina Leadership

  • November 2, 2021 - Produce Financial Model for Farina

    • How can you separate out brick and mortar revenues and resources from subscription revenues and resources? Why is that important?
    • How much revenue is it reasonable for the company to produce over 1-3-5 year period?
    • What personnel and technology costs are required to build this type of business?
    • What assumptions are you making? How can we ensure assumptions are easy to update and refresh and new data and insights become available?

    Suggested Deliverable:

    Present preliminary working financial model

  • November 30, 2021 - Improve Financial Model by Adding KPI Dashboard

    • How does the company calculate customer Lifetime Value (LTV)?
    • What about the Customer Acquisition Cost (CAC)?
    • Produce a report on how the subscription model compares to the two core Farina locations?
    • What about a table on technology costs? What about Human Resource costs?

    Suggested Deliverable:

    Produce Improved Financial Model with KPIs and Dashboards for Farina Concept

Project Resources

There are no resources currently available

Industry Mentors

Company Admin

Asim Walia

[email protected]

Company Admin

Jhonatan Cano 

[email protected]

Academic Mentors

Instructor

John Chase

[email protected]

Instructor

Abraham Kim

[email protected]

Instructor

Mehroj Emomov 

[email protected]

Instructor

Blaine Honea 

[email protected]

Assigned Students

Student

Mi Jung Joo 

[email protected]

Student

Letycia Pedroso Alencar

[email protected]

Student

Furkan Ogras 

[email protected]

Student

Kelly de Alcantara Pinto 

[email protected]

Student

Fernanda Cristina de Sousa Moreira 

[email protected]

Student

Sitaram Shrestha 

[email protected]

Student

Bidur B Chhetri 

[email protected]

Student

Lucy Salazar 

[email protected]

Student

Murat Durmaz

[email protected]

Student

Saehwan Im 

[email protected]

Student

Byung Suk Kim 

[email protected]

Student

Laura Melisa Delgado T 

[email protected]

Student

Marika Revilleza 

[email protected]