Prof. Ahmet

1. Özlem Bolat
Ferhan Ercengiz

2.  About Cheesecake Dream
 Investment Opportunity
 Vision
 Mision
 Prices
 Value Proposition
 Business Model
 Competitive Analysis
 Product Comparison
 Market Size
 Market Assessment
 Café Market
 Swot Analysis
 Competition
 Expected Market Share
 Market Segmentation
 Survey
 Sales Process
 Organizational Chart
 Gantt Chart
 Income Table
 Cash Flow
 Exit Strategy

3.  CheeseCake Dream is a café that serves
delicious desserts and is specialized on
cheesecakes. The targeted segment is
high/middle level families, students, young
adults, working people and anyone who
needs to relax and have joy.

4.  Cheesecake Dream offers 20% equity share
of its business to a partner for 0.4M TL.
 The investment in Cheesecake Dream
expected to have a profit potential of
4.8M TL (NPV) or in other words 12 times
of its value in 5 years. This will correspond
to 1208% at the NPV or annual ROI of
187%

5.  We want to satisfy every single customer
that arrives to our cafe by providing special
desserts and cozy environment.

6.  In5 years we expect to open 5 stores and
increase our brand value to 25M TL.

7.  Cheesecakes – 8-15 TL
 Cakes – 7-10 TL
 Specialities – 2-15 TL
 Ice Cream Specials – 8-15 TL
 Milkshakes – 10-15 TL
 Hot Drinks – 4-10 TL
 Iced and Frozen Drinks – 8-13 TL
 Soft Drinks – 4-8 TL

8.  Customers will get the best quality of
desserts in a relaxing and enjoyable
environment. They will feel special.

9.  Ourbusiness model is “service model”. In
Cheesecake Dream, we serve
desserts, hot&cold beverages.

10.  There are lots of Coffee
Stores, Traditional Cafes or Boutique Cafes
that serve cheesecakes, desserts and
coffee.
 However we want to differentiate in the
market with our special recipe cheesecakes
and elegant environment.
 There are some cafe's which have the
similar environment but do not have special
recipe cheesecakes. So we hold a niche
position in cafe&dessert market.

11. When compared to.. Advantages Disadvantages
* Specialized products
Coffee Stores * Higher prices
* High quality service
(Sbucks, Nero..) * Few locations
* Elegant environment
Traditional Cafes
* Specialized products * Higher prices
(Mado, Özsüt,
* Elegant environment * Few locations
Saray..)
Boutique Cafes * Differentiated products -

12. Cafe & Restaurant Sector in Turkey
Total Cafe & Restaurant market size for 2011 13.6 billion TL
İstanbul Cafe & Restaurant market size 7.3 billion TL
Total Cafe market size 2.7 billion TL
İstanbul Cafe market size 1.46 billion TL
Nişantaşı Cafe & Restaurant market size 192 M TL
Nişantaşı Cafe market size (Target) 38.4 M TL
Our targetted share of market size in Nişantaşı 2 M TL
• Türkiye Gıda ve İçecek Sanayi Dernekleri Federasyonu – 2011 raporu

13.  Demand of new tastes in dessert market.
 Desire of comfort and relaxation in the
stressful city.
 Youth’s need for trendy places.

14.  Cafe market in Turkey is expanding and
dynamic.
 There are many cafes and many more are being
opened. Customers’ interest in cheesecake is
increasing by time.
 Creative approaches can contribute to the
market and new strategies can attract more
customers.
 Cheesecake Dream is trying to step forward
among its competitors by introducing unique
tastes.

15. STRENGTHS: WEAKNESSES:
- Special recipies - Lack of extensive market know-
- Elegant and cozy environment how
- Growing market - High price range
- High service quality - Lack of advertisement
- Risk of unsustainable brand
loyalty
- Difficulty of finding exclusive
chefs
OPPORTUNITIES: THREATS:
- Increasing demand on different - High competition
tastes - Threat of new entrants
- Being in a dynamic city
- Being located in elite territory

16.  In 2016, Cheescake Dream aims to reach
900 customers per day in five stores.
Yearly revenue will be 18 - 22M TL.
 Cheesecake Dream will have the market
value of 24 - 25M TL in 2016

17. SECTOR Customer well funded? Compelling reason to buy?
Students NO NO
Working
YES NO
Professionals
Young Adults YES / NO NO
A Class Families YES NO
Middle Class Families NO NO

19. Would you like to try new tastes? Do you think that our prices are sensible?
6 7
5 6 6
5 6
5
4 4 5
4
3 4
3 3
2 2 2 3
2 2
2
1 1 1 1 1 1
1 1
0 0
1 2 3 4 5 6 7 8 9 10 NOT 1 2 3 4 5 6 7 8 9 10 NOT
SURE SURE
 Only 5 people voted below  Most of the people find prices
5, meaning that most people are sensible.
open to taste different
desserts.

20. Would you come to our café frequently? How strong would you recomment our
7 café?
6
6 6
5 5
5 5
4 4 4
4 4
3 3 3 3 3 3
3 3
2
2 2
1 1
1 1
0 0
1 2 3 4 5 6 7 8 9 10 NOT 1 2 3 4 5 6 7 8 9 10 NOT
SURE SURE
 People would like to visit  High percent of attendees are
Cheesecake Dream frequently. willing to advice Cheesecake
Dream to others.
 Small part of the attendees do
not find Cheesecake Dream
attractive enough to tell others.

21.  According to 5th question:
 Customers look for lower prices
 Brand value is important to them
 There is some hesitation to try unknown tastes

23. Ferhan Ercengiz
Özlem Bolat
Co-founders & Owners
Ferhan Ercengiz Özlem Bolat Özlem Bolat Ferhan Ercengiz
Özlem Bolat Ferhan Ercengiz
Operations & Sales & Marketing Supply Chain & Financial Operations
R & D Manager Purchasing Manager
Personnel Manager Manager Logistics Manager Manager
John Fernandez
John Fernandez Master Chef
Master Chef
Hasan Kaya
Chef Hasan Kaya
Chef
Ahmet Balta
Waiter
Neşe Kural
Waitress
Leyla Bozan
Waitress
Ayşe Kurt
Waitress
Bilal Kara
Cleaning Staff
Mehmet Taş
Cleaning Staff

25. 2011 2012 2013 2014 2015
Total Net Sales 2.345.125 3.117.206 3.739.450 4.905.274 6.387.849
Cost of Goods Sold 770.150 927.048 1.460.275 1.752.330 2.262.090
Gross Profit 1.574.975 2.190.158 2.279.174 3.152.943 4.125.759
General Cost 1.058.480 1.058.480 1.058.480 1.058.480 1.058.480
Replacement Cost 0 0 0 0 0
Operating Profit (EBITDA) 516.495 1.131.678 1.220.694 2.094.463 3.067.279
Depreciation -45.000 -50.000 -55.000 -60.000 -65.000
Earnings Before Interest and Tax (EBIT) 471.495 1.081.678 1.165.694 2.034.463 3.002.279
Financial Income/Expense 0 -19.671 162.270 326.876 616.237
Profit Before Tax 471.495 1.062.008 1.327.965 2.361.339 3.618.516
Total Tax 94.299 212.402 265.593 472.268 723.703
Profit After Tax 377.196 849.606 1.062.372 1.889.072 2.894.813
Depreciation 44.000 48.000 52.000 56.000 60.000
(Gross Profit)/Net Sales 67% 70% 61% 64% 65%
Profit Before Tax/Net Sales 20% 34% 36% 48% 57%
(Profit Before Tax+Depr.)/Net Sales 22% 36% 37% 49% 58%

26. 2011 2012 2013 2014 2015
EBITDA 516.495 1.131.678 1.220.694 2.094.463 3.067.279
Tax 94.299 212.402 265.593 472.268 723.703
Bank Loan 200.000 0 0 0 0
Fixed Investments 20.000 20.000 20.000 20.000 20.000
Free Cash Flow 202.196 879.606 1.097.372 1.929.072 2.939.813
18.373.82
Terminal Value 9
Discount Rate 1,25 1,25 1,25 1,25 1,25
Cumulated Discount Rate 1,12 1,40 1,75 2,18 2,73
Discounted Cash Flow 180.850 629.395 628.172 883.412 1.077.022
Discounted (NPV) Cumulated Cash Flow 180.850 810.245 1.438.417 2.321.829 3.398.851
NPV OF ACCUMULATED CASH (TL) 3.398.851
NPV OF TERMINAL VALUE (TL) 6.731.388
TOTAL NPV (TL) 10.130.239
DISCOUNT RATE (%) 25

27.  The investor is offered three options for
exit. The first and preferable one is for
the investor to buy Cheesecake Dream at
the value calculated above. The second
option is an IPO in İMKB, and the third one
is to purchase the investor’s 20% shares by
Cheesecake Dream at the book value of
Cheesecake Dream.