Dumplings business plan

* The calculations use the average data for the World

1. SUMMARY OF THE PROJECT

The goal of the project is to open dumplings for the implementation of a range of services in the field of public catering and frozen convenience foods in a city with a population of more than 1 million people.

To implement the project, a room is rented in the central part of the city, in the immediate vicinity of office buildings. Dumpling is positioned as a healthy fast food made from organic products. The maximum capacity of the cafe is 30 people, the total area is 110 m2.

Target audience - the population of the city aged 18 to 50 years. The price segment is medium.

The main advantages of opening dumplings: high and constant demand; low level of competition in the dumplings segment; the growing popularity of instant products; the opportunity to diversify the business by combining the concept of a cafe and a manufacturer of frozen convenience foods; quick payback. Difficulties that a business owner may encounter: preparation of permits, activities of regulatory authorities, fierce competition in the industry.

The volume of initial investments is 1, 635, 000 rubles. Investment costs are directed to the repair of the premises, the interior filling of the establishment, the purchase of equipment, the initial purchase of raw materials and the formation of working capital, which will cover the losses of the initial periods. The bulk of the required investment is in the acquisition of equipment - 49%. Own funds will be used to implement the project.

Financial calculations cover a three-year period of operation of the project; after this period, expansion of the business is expected. The net monthly profit of the project upon reaching the planned sales volumes will be 1, 504, 747 rubles. It is planned to reach the planned sales volume at the end of the first year of operation. In accordance with the calculations, the initial investment will pay off for the sixth month of work. The return on sales in the first year of operation will be 27.8%.

Table 1. Key performance indicators of the project

Payback period (PP), months

6

Discount payback period (DPP), months

7

Net present value (NPV), rub.

1 691 289

Return on Investment (ARR), %

34.15

Internal rate of return (IRR), %

27.23

Profitability Index (PI)

1, 03

2. DESCRIPTION OF THE INDUSTRY AND COMPANY

Currently, there is a tendency to reduce free time among residents of large cities of Russia. This leads to an increase in demand for finished products presented on the market by frozen convenience foods or the catering market.

During the crisis, fast-food establishments are especially popular because they are more budget-friendly. In 2015, this segment of the catering market was the only one that showed positive dynamics - its growth amounted to 5.2% in real terms.

Figure 1. Dynamics of the turnover of the public catering market in 2006 - 2016, billion rubles, % (data from Alfa Bank and RBC)

Given the current trends in food culture in Russia, dumplings can be called one of the promising areas of business. Firstly, dumplings are an integral part of the national cuisine, which makes them a popular product. Secondly, the demand for this product is stable and does not have pronounced seasonal jumps.

Dumpling is a catering establishment, which is an alternative to modern fast food. Hot dumplings with various fillings, original serve, attractive atmosphere of the institution and national flavor can compete with the foreign fast food that has become familiar in the form of french fries and hamburgers. The main trends in the catering market are the concept of healthy food, the use of local products and the theme of cuisine with an authoring approach. All of these trends can easily be embodied in dumplings.

Today there are not so many eateries in the dumpling format - they occupy less than 1% in the structure of catering establishments. The market niche is practically free and opens up prospects for business.

Figure 2 - The structure of the catering market in the context of the concepts of the institution (RBC data)

Table 2 presents the approximate number of dumplings operating in the largest cities of Russia at the beginning of 2017.

Table 2 - The number of dumplings in the largest cities of Russia according to 2GIS

City

The number of dumplings, pcs

Moscow

22

St. Petersburg

thirty

Novosibirsk

17

Yekaterinburg

13

Nizhny Novgorod

four

Kazan

four

Chelyabinsk

12

Omsk

four

Samara

eight

Rostov-on-Don

6

A distinctive feature of modern dumplings is the connection in one institution of a cafe and the production of semi-finished products. Most dumplings offer consumers to purchase their products in frozen form - as an alternative to convenience foods in supermarkets. This business strategy is more advantageous, since it has been established that consumers prefer handmade dumplings - “home” cuisine, which is trusted more than products from supermarkets. The second plus of these dumplings is the presence of competitive advantages that allow you to stand out on the frozen food market, where there is a clear glut.

According to statistics, the demand for frozen products is growing. The trend was formed by the growing employment of people and the search for a budgetary replacement for meat. According to experts, the market capacity of frozen semi-finished products is about $ 3.5 billion or 1.25 million tons - the share of dumplings in the market is almost 50%. It is expected that the growth in demand for frozen semi-finished products will continue due to the popularity of instant products and the expansion of the range of products offered.

Studies have shown that 73% of the urban population acquire dumplings at least 1 time in 3 months, and the average per capita consumption over the past ten years is about 4 kg per year. Thus, dumplings were and remain a sought-after product.

To date, more than 300 large manufacturers and more than 500 brands are registered on the dumplings markets of the ten largest cities in Russia. Moreover, the statistics do not take into account many small companies operating in the regional market. As a result, there are 5 competitors of various brands per 10 thousand consumers.

The dynamics of the volume of the Russian frozen food market shows that in 2015 the market volume decreased significantly, however, in 2016 it resumed growth. Despite the downward trend, dumplings remain leaders in the semi-finished market. Therefore, dumplings, which is a cafe with the ability to purchase branded products in the form of semi-finished products, is regarded as a promising area of ​​business. Such establishments are at the junction of two markets - catering and frozen food, taking into account the main trends in catering.

Figure 3 - Dynamics of the Russian market of frozen semi-finished products

Advantages of the dumplings concept:

- high demand;

- low cost of production 120-150 rubles / kg with a selling price of 500 rubles / kg;

- independence from imported raw materials;

- a stable consumption of dumplings, independent of the state of the economy;

- “national flavor” of the idea, the likelihood of support from the authorities;

- a relatively inexpensive interior concept;

- the relative simplicity of the organization of the technological process;

- business diversification by combining the concept of a cafe and selling frozen products of own production;

- The concept of home cooking, handmade, which corresponds to modern trends in the catering market;

- quick payback;

- low level of competition in this segment.

However, there are a number of features that complicate the conduct of the dumplings business. Firstly, the need to obtain permits, regular inspections of regulatory bodies and stringent requirements for catering establishments. Secondly, high competition in the catering market - in order to gain a foothold in the market and ensure a stable income, it is necessary to create a unique, high-quality product and develop competent product promotion.

Thus, the trend of popularizing fast food establishments, the growing demand for instant products and the advantages of the dumplings concept allows us to talk about the investment attractiveness of such a business.

3. DESCRIPTION OF GOODS AND SERVICES

Dumplings is a catering company intended for organizing leisure activities and specializing in the production and sale of food products: specialties - dumplings, custom-made dishes of simple preparation - salads, soups, confectionery, as well as hot and cold drinks.

It is planned that the dumpling will provide the following types of services:

1) cooking dumplings and other assortment;

2) sale of frozen dumplings of own production by weight;

3) delivery of finished products.

Production is carried out in-house using only natural, quality ingredients. Dumplings are positioned as “home cooking”, therefore the use of semi-finished products and flavorings is excluded. The dumplings assortment is divided into two groups - monoproduct variations (dumplings) and offal (salads, first courses, drinks, desserts). Monoproduct has the maximum surplus value, and subproducts are designed to stimulate the sales of monoproduct.

The approximate menu includes:

1) Dumplings with various fillings: beef + pork; hen; salmon fillets; with chicken liver; Shrimp cheese and greens.

2) For dumplings, the supply of various additives and sauces is provided: sour cream, cheese sauce, garlic sauce, mustard, adjika.

3) In addition to dumplings, it is planned to include dumplings in the menu: potatoes + mushrooms, cottage cheese, cabbage + potatoes, cherries.

4) Salads - vegetable, olivier.

5) Soup of the day - every day, from Monday to Friday, customers are invited to: chicken noodles, kharcho, solyanka, cheese and mushroom soup, borscht.

6) The range of hot and cold drinks includes: hot - tea, coffee, cocoa, fruit drinks; cold - juice, mineral and sparkling water.

7) Desserts - cottage cheese pancakes with syrup, apple / cherry pies, juices.

The range of dumplings is quite wide and can be updated over time in accordance with the taste preferences of consumers. It is recommended to expand the range of dumplings, as this product is the hallmark of the institution. For example, you can offer guests fried dumplings (their production requires an addition to standard equipment), khinkali and manti, Chinese dumplings, gedza, ravioli, etc. In the menu you can provide 3 options for a portion of ravioli - 8, 12, 16 pcs and the ability to order "assorted" to try several types of ravioli. All these techniques will allow you to orient the menu for each visitor.

A good addition to the regular menu can be business lunches focused on attracting working people who prefer budget dinners. The average business lunch check is 200 rubles. It is recommended to include soup of the day, half a portion of ravioli and a drink of your choice in a business lunch.

The average check for 1 dumpling table is 650 rubles. The capacity of dumplings is 30 people, or 15 tables. The planned sales volume is calculated on the basis of a table turnover of 1 hour and a maximum load of the hall of 85%. With a 12-hour work schedule, the monthly revenue will be: 12/1 * 15 * 30 * 650 * 0.85 = 2983500 rubles. Thus, in a month dumplings will serve approximately 9180 visitors.

In addition, the planning of sales should take into account the implementation of frozen semi-finished products of our own production. The cost of 1 kg of dumplings cooked in dumplings, on average, is 650 rubles. The cost of 1 kg of semi-finished dumplings in the supermarket is 200-300 rubles. Based on this, frozen dumplings are planned to be sold at a 40% discount - 390 rubles. It is planned that 20% of the total number of visitors per month will purchase frozen dumplings. Then the revenue will be: 9180 * 0.2 * 390 = 716040 rubles.

The total revenue of dumplings for the month will be 3699540 rubles.

4. SALES AND MARKETING

The target audience of dumplings is the population of the city aged 18 to 50 years. The main market for the consumption of dumplings is large cities, since the rhythm of life in them does not allow people to devote much time to cooking, and material wealth allows them to purchase more expensive, finished products.

One of the important points when opening a dumplings is the preparation and implementation of an effective marketing strategy, which should include: developing the name of the institution, its logo and corporate identity; organization of an advertising campaign (promotions, promotion tools).

A vivid and memorable name will highlight the institution from the many offers in the catering market. Services for developing a corporate identity of an institution will cost an average of 8, 000 rubles. A catchy, eye-catching sign, including its installation, or window dressing, will cost about 30, 000 rubles.

To promote the dumplings, various marketing tools are used: advertising videos in the cinema; sponsor participation in cultural projects; installation of billboards and signs; distribution of business cards, flyers or booklets with the menu; media advertising; radio advertising; participation in food exhibitions and fairs; loyalty programs, promotions and so on. For example, you can attract an audience with the unusual “happy dumpling” campaign: a person who gets dumplings “in surprise” gets a discount coupon for an order or a free drink.

The use of a particular tool depends on the target audience of the institution and the project budget.

To advertise this project, it is planned:

  1. Print advertising - distribution of flyers with a 10% discount coupon. Costs will amount to 5, 000 rubles, including the creation of a layout of an advertising flyer, printing of advertising material and the salary of a promoter;

  2. Creation and active promotion of a profile in social networks VKontakte and Instagram. 10, 000 rubles should be allocated for promoting a profile in social networks;

  3. Competition of reposts, designed to distribute advertising information among potential consumers. The winner is given a one-time 50% discount on the order.

For the promotion of dumplings, costs of 15, 000 rubles are laid.

However, the best advertisement for a catering establishment is a quality product and service. If the consumer appreciates the dishes and service, then he will want to return to this institution again and advise his friends.

An equally important parameter for advertising a catering establishment is its location, since a well-chosen place often determines the success of a business.

5. PRODUCTION PLAN

Opening dumplings and organization of production involves the following steps:

1) Location and interior of the institution. For any catering establishment, especially small eateries, the right room plays an important role. The dumpling should be located in a crowded place: markets, parks, near or inside shopping malls, close to business centers, office buildings and educational institutions, on central streets.

When choosing a place, you should also consider the presence of competitors nearby. Studying the competitive environment, you need to pay attention to prices, offered services, quality of service and menu.

It should be borne in mind that each room intended for public catering is thoroughly checked by state bodies - sanitary epidemiological station, Rospotrebnadzor, fire inspectorate. Strict requirements are presented to the arrangement of the kitchen and ventilation, compliance with the standards of the working area, finishing materials, organization of food storage, etc. In addition, you should evaluate the functionality of the premises - the possibility of redevelopment, the availability of all communications (water and sewage, electricity, gas), which will ensure uninterrupted operation of the institution. Particular attention should be paid to electricity capacities, since food equipment consumes a lot of electricity.

For catering establishments, it is necessary to divide the entire space into several rooms: a kitchen, a hall for visitors, a toilet room. It should also provide for the separation of cold and hot shops, which requires production technology.

To implement the dumplings project, it is planned to rent a room with a total area of ​​110 m2, of which 40 m2 is a hot and cold workshop, 50 m2 is a hall for visitors, designed for 30 seats, 5 m2 is a toilet room, 15 m2 is a storage room and a room for staff. The selected room is suitable for organizing a catering establishment and has all the necessary conditions for this: gas, water, sewage, ventilation, electricity of sufficient power. Location - central street, proximity to the business center. The rental price is 100, 000 rubles / month.

Do not forget also that the snack bar is a place for relaxation and pleasant pastime. And the atmosphere should be appropriate, so you should pay attention to the interior of the institution. The interior of the institution plays not only an aesthetic role, but also allows you to create the "chips" of the institution, a memorable corporate identity. This makes the interior an effective tool in promoting a catering establishment.

To decorate the interior of the dumplings, Russian color is perfect - painting with Khokhloma, wooden furniture, nesting dolls, etc. The concept of Russian national institutions is gaining popularity, and its implementation as a fast food establishment is seen as a rather original solution. Ideally, the creation of a suitable atmosphere of the institution should be entrusted to a designer who will help create a unique, comfortable space where you want to spend time and where you want to return. However, to open a small institution, you can do it yourself, choosing an ascetic design with decorative elements that create a mood. For the repair, decoration and furniture filling of the institution, the budget includes 250, 000 rubles.

2) Service format and staff selection. Before determining the required number of working personnel, you should choose the format of service in your institution. This may be the principle of a cafe with menus and waiters, self-service with cashiers or a prototype of a traditional dining room.

This project provides for the creation of dumplings with a partial self-service system - this will reduce the selling price of products. The service system in the dumplings works as follows: the visitor selects an order from the menu presented in front of the cashier, the cashier accepts the order and payment, gives the visitor a “number”, which is a matryoshka with a number. The visitor sits at the table, and the waiter, guided by the "numbers", carries orders. The waiting time is 5-10 minutes. Serving dishes is planned in disposable dishes with a company logo, which will save on a dishwasher and organize the function of product delivery.

Для функционирования пельменной, построенной на таком принципе, потребуется 4 кассира, принимающих заказы, 2 официанта, подающие заказ к столикам и следящие за текущей чистотой зала, 4 повара, 1 администратор и 1 уборщица, которая наводит чистоту в заведении в конце рабочего дня. Двенадцатичасовой график работы заведения определяет посменную работу персонала. Для организации доставки на начальных этапах работы планируется заключить договор с курьерской службой. Когда производство будет налажено, рекомендуется приобрести автомобиль и нанять водителя.

Requirements for the staff of a public institution:

- all employees must have sanitary books with appropriate marks;

- повара должны иметь профессиональное образование и опыт работы;

- all employees must be instructed before admission to the workplace, study the safety instructions for operating the equipment.

3) Equipment. Изготовление пельменей может осуществляться с помощью автоматической линии или вручную.

Данный проект предусматривает приобретение автоматического оборудования.

На рисунке 4 наглядно представлена технологическая схема производства пельменей. Из нее видно, какое оборудование необходимо для производства пельменей и его алгоритм.

Рисунок 4 – Технологическая схема производства пельменей

Таким образом, состав необходимого для изготовления пельменей оборудования включает:

- просеиватель муки – 33000 рублей;

- тестомес (производительность 550 кг/час) – 128000 рублей;

- автомат для лепки – 200000 рублей;

- мясорубка (160 кг/час) – 25000 рублей;

- фаршемешалка (35 л) – 83000 рублей;

- холодильная камера (700 л) – 53000 рублей;

- печь – 85000 рублей;

- посуда и кухонный инвентарь – 10000 рублей.

При выборе пельменного агрегата следует учитывать его эффективность. Для небольшой пельменной будет достаточно оборудования с производительностью 50-250 кг/час.

Также следует предусмотреть дополнительное оборудование, к которому относятся холодильные камеры для хранения ингредиентов, кофемашина и другое – на эту статью расходов приходится около 60000 рублей. Для обустройства касс потребуются сенсорные терминалы в соответствии с 54-ФЗ. Два комплекта автоматизированных касс обойдутся в 120000 рублей.

В результате, комплект специализированного оборудования для пельменной обойдется приблизительно в 800000 рублей.

4)Составление меню. Для небольшой пельменной, рассчитанной на 30 посадочных мест, меню должно состоять из пельменей с несколькими вариантами начинки, вареников, соусов к ним, пары салатов, горячих первых блюд, нескольких десертов на выбор и безалкогольных напитков. From time to time, you need to add new dishes to the menu or make special offers - this way you can keep the accumulated customer base.

Важно предусмотреть, что для каждого блюда следует составить технологическую карту, где будет указан расход продуктов на порцию и объем этой порции. This information is necessary to obtain permission from the SEN, as well as to calculate the need for raw materials.

Планируемое меню для пельменной приведено в пункте 3 бизнес-плана.

5) Organization of supply. Перед открытием пельменной следует наладить каналы снабжения сырьем и определиться с поставщиками. Для потребителей более привлекательной будет продукция, для приготовления которой используются натуральные продукты из фермерских хозяйств. При этом необходимо, чтобы все используемые ингредиенты соответствовали требованиям ГОСТов. Основные категории поставщиков:

- поставщик муки и прочих сыпучих продуктов;

- поставщик куриных яиц;

- поставщик мяса и птицы;

- поставщик рыбы и морепродуктов;

- поставщик свежих овощей, зелени, фруктов;

- поставщики напитков.

It should be noted that when signing partnership agreements, you can count on additional bonuses for the company - for example, beverage suppliers usually provide branded dishes and equipment to the establishment.

When negotiating cooperation with suppliers, you must familiarize yourself with all the conditions specified in the contract. As a rule, transportation costs for the supply of ingredients are borne by your production. To reduce this cost item, you need to choose suppliers that are closer to your establishment.

Требуемое количество сырья определяется исходя из меню, технологической карты приготовления продукции и ожидаемогообъема продаж. It is important that the recipes comply with GOST or separately accepted specifications.

6. ORGANIZATIONAL PLAN

Начальным этапом открытия пельменной является регистрация бизнеса в государственных органах и получение разрешительной документации для заведения общественного питания.

In order to conduct business, an IP with a simplified taxation system is registered (“income” at a rate of 6%). Types of activity according to OKVED-2:

08/18/2019 - The activity of restaurants and cafes with full restaurant service, cafeterias, fast food restaurants and self-service

10.13 - Производство продукции из мяса убойных животных и мяса птицы.

При открытии заведения общественного питания могут возникнуть трудности, связанные с получением разрешительной документации. Чтобы открыть пельменную, необходимо собрать следующий перечень документов:

- санитарно-эпидемиологическое заключение, которое выдает Роспотребнадзор;

- ассортиментный перечень, утвержденный в СЭН;

- разрешение государственного пожарного надзора;

- заключение налоговой инспекции о постановке на учет кассовых аппаратов;

- разрешение УВД на сохранность материальных ценностей.

После получения всех разрешительных документов и соответствующей документации на помещение пельменной (договор аренды или купли-продажи) необходимо получить разрешение на открытие заведения общественного питания от городских властей.

График работы пельменной – с 10:00 до 22:00. Based on this, the staffing is formed. In accordance with Art. 94 Трудового кодекса, продолжительность смены повара не может превышать 6 часов. Поэтому на 1 рабочий день предусматривается 2 повара, работающих посменно. Since the establishment is open 7 days a week, a shift-by-day work schedule should be organized for all staff in the establishment.

Table 3. Staffing and payroll

Position

Salary, RUB

Number of people

PHOT, RUB

Administrative

one

Administrator

20000

one

20, 000

2

Accountant (remotely)

15, 000

one

15, 000

Industrial

3

Cook (shift chart)

22000

four

88000

Trade

four

Кассир (посменный график)

13000

four

52000

five

Waiters (shift schedule)

15, 000

2

30000

Auxiliary

6

Cleaning lady (part-time)

6000

one

6000

Total:

211 000.00 ₽

Social Security contributions:

63 300.00 ₽

Total deductions:

274 300.00 ₽

Администратор организует рабочий процесс, нанимает и управляет персоналом, ведет маркетинговую политику, контролирует работу персонала, отвечает за поставку сырья.

Повара осуществляют приготовление блюд, следят за кухонным оборудованием и чистотой рабочих помещений, работают на одной или нескольких кухонных станциях в зависимости от распределения обязанностей.

Кассиры взаимодействуют с покупателями, формируют полученные заказы и принимают оплату.

Официанты осуществляют обслуживание клиентов, следят за чистотой в зале, в случае необходимости помогают в работе кассирам.

The accountant keeps financial records of all operations and works remotely.

The cleaner monitors the cleanliness of the hall and the kitchen, is responsible for the disposal of industrial waste.

7. FINANCIAL PLAN

The financial plan takes into account all the income and expenses of the project, the planning horizon is 3 years. It is planned that after this period the institution will need to expand production and the range of products.

To start a project, you need to calculate the amount of investment. To do this, you need to determine the costs of repairing the premises, purchasing equipment, the initial purchase of raw materials and the formation of working capital, which will cover the losses of the initial periods. Основная часть требуемых инвестиций приходится на приобретение оборудования – 49%. The project is funded by equity. Основные статьи инвестиционных затрат отражены в таблице 4.

Table 4. Investment costs

Name

Amount, rub.

The property

one

Room repair

250, 000

Equipment

2

Set of equipment

800, 000

3

Furniture and decor

200, 000

Intangible assets

four

Проектирование

40, 000

five

Starting advertising campaign

45, 000

Current assets

6

Raw material purchase

150, 000

7

Current assets

150, 000

Total:

1 635 000 ₽

Variable costs consist of the costs of the ingredients that are used in the preparation of dishes, as well as the payment for the capacities consumed during the production process (water, gas, electricity, sewage). To simplify financial calculations, cost variables are calculated based on the average check amount and a fixed trade margin of 300%.

Fixed costs consist of rent, utility bills, payroll, advertising costs, taxes and depreciation. The amount of depreciation is determined by the linear method, based on the useful life of fixed assets of 5 years. Fixed costs also include tax deductions, which are not presented in this table, since their amount is not fixed, but depends on the volume of revenue.

Table 5. Fixed costs

Name

Amount in months, rub.

one

Rent

100, 000

2

Advertising

10, 000

3

Communal payments

10, 000

four

Depreciation

27250

five

Payroll deductions

274300

Total:

431550

Thus, fixed monthly expenses of 431, 550 rubles were determined. The volume of planned revenue is 3296768 rubles per month.

8. EVALUATION OF EFFICIENCY

The project payback period for initial investments of 1, 635, 000 rubles is 6-7 months. The net monthly profit of the project upon reaching the planned sales volumes will be 1, 504, 747 rubles. It is planned to reach the planned sales volume at the end of the first year of operation. The profitability of sales in the first year of dumpling operation will be 37%.

The net present value is positive and equal to 1, 691, 289 rubles, which allows us to talk about the investment attractiveness of the project. The ROI is 34.15%, the internal rate of return exceeds the discount rate and is 27.23%, and the profitability index is 1.03.

9. POSSIBLE RISKS

To assess the risk component of the project, it is necessary to analyze the external and internal factors. External factors include threats related to the economic situation in the country and markets. To internal - the effectiveness of managing the organization.

The specifics of the institution determines the following external risks:

- increase in prices for raw materials, unscrupulous suppliers. In the first case, there is a risk of increased costs and, as a consequence, the selling price, which can negatively affect demand. In the second case, the risk is associated with interruptions in production. It is possible to reduce the likelihood of these threats with the right choice of suppliers and the inclusion in the contract of all necessary conditions that provide for the liability of the supplier if they are violated;

- the reaction of competitors. Since the catering market is quite saturated and the competition is high, the behavior of competitors can have a strong impact. To minimize it, it is necessary to form your own customer base, constantly monitor the market, and have a customer loyalty program;

- refusal to provide rental premises or increase rents. To reduce this risk, it is necessary to conclude a long-term lease agreement and carefully select the landlord. You should also consider buying real estate for business.

Internal risks include:

- Failure to meet planned sales. It is possible to reduce this risk with an effective advertising campaign and competent marketing policy, involving various promotions and bonuses;

- equipment breakdown and production downtime. The risk will be mitigated by regular maintenance of equipment in order to maintain its operability;

- problems with staff, which implies low qualifications, staff turnover, lack of employee motivation. It is easiest to reduce this risk at the stage of personnel selection, hiring employees who meet all the requirements. Also, one should not forget about staff motivation - psychological and monetary.

- reduced reputation of the institution in the circle of the target audience in case of errors in management or a decrease in the quality of services. It is possible to mitigate the risk with constant monitoring of product quality, receiving feedback from customers of the institution and taking corrective measures.

10. APPLICATIONS

Evgenia Yurkina

(c) www.clogicsecure.com - a portal to business plans and guidelines for starting a small business 08/18/2019


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