Planning a 21st Birthday Party

For most young adults - no birthday is more important that their 21st. If you have been asked to plan or host a party for a friend or relative that is turning 21, the following tips will help you plan and pull off a terrific 21st birthday party!

Send out invites a month in advance: Whether you send e-vites or mailed invitations, you want to invite your guests at least a month in advance to ensure that they save the date for your party. Both types of invitations are acceptable. Make sure that you provide the date, time, and location of the party on the invitation, as well as specific RSVP instructions. For example - provide the name of the person that recipients should contact as well as the preferred way of contacting them (email, phone, or both). Or, to make it simple for yourself and the guests, ask those invited to RSVP only if they are unable to attend.

Bakeries

Other things to include in the invitations if they pertain to your party:

• If you do not want guests to bring gifts then make sure you state on the invitation "Please, no gifts" or "All we request you bring to the party is yourself".
• Request for guests to bring something specific to the party - whether it is an picture of themselves with the guest of honor to make a collage, a dish to pass, or a 'beverage of choice' to give to the birthday boy or girl in honor of becoming 'legal'.
• Directions to the party.

Decide on food and beverage to serve: Let's assume that your party is being held in a home or clubhouse type of setting - so no formal sit-down meal. Do you want to offer finger-type food that people will snack on all night long? Or will you offer a full meal buffet-style. Which ever you decide - make sure that you have enough to serve everyone - better to have too much than too little. Believe me, if there is food left over at the end of the party you will have plenty of guests that would love to volunteer to take it off your hands. Bring inexpensive disposable bags and containers so that you can easily pack up leftovers.

Make sure that you remember the plates, napkins, and utensils needed. Plates and napkins that feature a nice design on it are always nice and add a festive look to the presentation of the food- but it can be expensive. One option is to buy the plates and napkins in a solid color to save on costs. Or perhaps only splurge on the smaller, decorated 'Happy Birthday' dessert plates.
And a birthday cake is always a must - although now days 'cupcakes' are also the rage. Although bakeries may offer fancy varieties - they often come at with a hefty price tag. So if your budget is limited, don't hesitate to order a large cake from your supermarket or warehouse bakery. And if you have something special or unique in mind when it comes to how you would like the cake decorated - don't hesitate to ask them if they can accommodate you. I've seen supermarket bakeries do great "beer" and "cocktail" related decorations on their cakes. Remember to give them at least several days notice for your order.

As for the beverage - of course there must be a toast to the guest of honor at some point in the evening. Wine, beer, mixed drinks or champagne are all appropriate to toast with (as, of course, is any non-alcoholic beverage for those guests that prefer not to drink). Prior to the date of the party, decide who will be toasting the birthday boy or girl and asked them to prepare ahead of time a short toast. When he or she finishes with their toast - have them ask all guests to raise their drinks to the guest of honor.

For the rest of the night - make sure there is plenty of water and soda on hand. Lemonade or ice tea also go over well. As for alcoholic beverages - see what your budget allows. The "21" age group will probably be happy with just beer, however some of the older guests may prefer wine.

Ambiance: Although decorations aren't necessary - they do help set the stage for a festive get together. They can be as simple as a few balloons bouquets strategically placed throughout the room. Also - a balloon bouquet on each side of the entrance to the party shouts 'Party' and also makes it clear to guests that they have arrived at the right location. A few vases of fresh flowers are also a nice touch. Party supply stores have great "theme" decorating items (sports, beach, etc.) that can also add flair to the event.

Music also plays an important role. Should it just play in the background or does it have a major role in the event such as in the case of dance music? Think through the music choices ahead of time, as well as the sound system if the party is not being held in your home. Ahead of time assign one person responsibility for the music throughout the duration of the party. And remember - there's a whole slew of 'drinking' related songs out there (type in "songs about drinking" in a search bar and they'll be at your finger tips).

Do you want to play drinking games? If you only know of the same or two that everyone else knows just go to your favorite search page and type in "drinking games" and you'll have access to more games you ever thought were possible.

Always keep in mind the guest of honor when planning the party: Take into consideration the likes and dislikes of the celebrant throughout all of your planning. If he or she has a hobby, a favorite food, a favorite city - all these things might spark ideas of how to incorporate it into the party theme. For example let's say that the birthday boy is a sports fanatic. You can send out 'sport ticket' invitations to the party and decorate in his favorite team's color. Or the birthday girl has a favorite singer - you would want to make sure that songs from that artist are included in the party's music mix. Or perhaps she's a chocoholic. Make sure the birthday cake is chocolate fudge and hand out take-home gift bags with her favorite candy.

A little bit of up-front planning can save you time, hassle and money in the long run.

Cool Party Favor - Copyright 2009

Planning a 21st Birthday Party

Debra Rosenberg is an avid home entertainer and a party consult for Cool-Party Favors and recommends martini party favors and chocolate number favors as party favors for a 21st birthday party.

Sample Strategic Planning and Analysis For Panera Bread Company

Panera Bread has an opportunity for growth within a challenging industry in two key areas - increased sales of specialty drinks and opening international locations - that will enable the company to spread its mission of fresh bread for everyone while increasing the bottom line for shareholders. By utilizing many frameworks for thought and projecting the estimated financials of the company, we are able to empirically show that these two strategies will be beneficial to the customer.

Utilize Historically High Margins on Specialty Drinks to Drive Bottom Line Growth

Bakery

While Panera's core business revolves around fresh bread, the style of the locations suggests that there is substantial revenue in selling coffee and related drinks, similar to Starbucks. Looking at the coffee market, estimated real growth is 2.7% or roughly 5.7% given a 3% inflation rate while the number of establishments, the actual coffee shops, is expected to grow only 1.6%, meaning that each shop on average will see increased revenue, due in part to a 3.5% growth in domestic demand (See Appendix A). Further, profit in specialty drinks is estimated at 19.8%, much higher than Panera's 6.4% profit margin. This means that increasing the sales of specialty drinks will have a positive impact on Panera's bottom line - clearly the industry is growing and is a good industry to be in for Panera. According to Buffalo Wild Wings' franchise disclosure document, more than 40% of revenue is generated via alcohol and specialty drinks sales. If Panera were able to generate this level of sales with a 19.3% profit margin, its bottom line would increase by nearly 7.8% to 14.2%, abnormally high for the restaurant industry (which averages 4-5% margins). Though this profit margin level is likely not sustainable, the short-term boost in profit margin will help Panera expand its operations internationally to capture economies of scale with its suppliers.

Look to Industry Incumbents for Knowledge and Re-arrange Menu Locations

Visually, the layout of a Starbuck's, Dunkin' Doughnuts, or Caribou Coffee are much more fluid than Panera Bread with respect to the coffee ordering location. This analysis draws heavily on the Eden Prairie Mall and Downtown Minneapolis Nicollet Mall locations. The customer flow for Eden Prairie and Downtown is awkward; the customer must enter the store, walk past the bakery and coffee areas, and then order at the registers. The issue is that the coffee menus are located above the bakery items, not in clear view of the customer at the time of ordering. By the time the customer is ready to order, he or she has forgotten what drink to order; furthermore, the drinks are creatively named which is positive for brand identity, but awkward for the average male customer to order. At the very least, the coffee and specialty drinks need to undergo the following changes:

· Move the menus to the same wall face as the meal menus to ensure customers know what coffee is offered when ordering

· Arrange the bakery display cases nearer to the registers to entice more impulse purchases

· Remove queue line markers during non-rush times, especially in front of the bakery display cases

· Increase the offerings of specialty drinks, including researching alcoholic beverages, to attract coffee shop regulars into Panera

By focusing on combining the café design with a coffee shop atmosphere, Panera can become a "chill out" spot as well as a premier location for both lunch and dinner. Furthermore, this change can be carried to the international markets where café atmospheres, such as those in France, are more prevalent.

Expand Internationally to Build Brand Image and Diversify Economic Risks

Given that Panera is pursuing Canadian locations, it is safe to assume that the international market for fresh bread is growing. Indeed, the international market breakdown of industry revenues can be found in Appendix B. Clearly, the European market is a large market for fresh bread. However, IBIS World estimates that 135,000 bakeries operate in Europe, meaning the market is fragmented. A brand with a large marketing budget behind it could quickly enter the market and take a key position (See Appendix C). Given that the culture and preferences of European customers may differ from Americans, it would be best to test new products in Canada prior to the overseas launch of the Panera brand. An interesting facet of the European market is the strong relationship between the industrial agricultural and milling companies and the industrial bakeries. The largest bakeries are owned by the largest milling and agricultural firms in the U.K., Sweden, and Austria. This may cause supply chain issues in these countries, though Panera could pursue a partnership or joint venture approach to these markets.

Leverage on Existing Assets to Increase Shareholder Return and Expand

According to Panera's 2009 10-K, the company had an interest coverage ratio of 200.9x, with EBIT of 0m and interest payments of 0k. Additionally, distance-to-default, a key metric for risk of debt, is quite large (larger is better) as the cash on hand of Panera is .1m and the debt/equity ratio is 0.0%. Retained earnings and total equity are 6m and 5m, respectively. This suggests a large cushion prior to debt default in an extreme situation. In Appendix D, the large difference between Panera and its rivals in terms of debt load is clearly seen. Given that Panera has 3.2m in FCF, it is safe to assume that Panera could issue at the very least 1.0x FCF, though a safe debt load for a company can be as low as 2x EBITDA, or 0m in debt. With the average café costing .6m, Panera would be able to finance the expansion of its brand across approximately 250 corporate-owned locations internationally. As seen in Appendix E, Panera would be in the top three of its main competition with these new locations.

As with all public companies, Panera must return value to its shareholders while not ignoring the broader array of stakeholders with whom it interacts. FactSet estimates Panera's 2010 sales growth at 10.4% with EPS of .41 per share, a 20.6% increase over 2009. Our proposed strategy would benefit the company both in the short term and long term. In the short term, sales would be increased and profit margin would increase by 500 bps to 770 bps based on specialty drink sales. If the international expansion plan is pursued, Panera would see sales growth in 2011 beyond the estimated 10.3% and EPS well beyond the projected .98. Though the increase in debt may force management to pay more attention to the cash flow of the company, the increased leverage will allow Panera to increase its ROE substantially. If Panera wishes to remain competitive, it must utilize its economies of scale to grow faster than competition and continually innovate, becoming the "fast follower" by utilizing adjacent industry innovations in its café atmosphere.

Appendicies can be found at Liekos Group's website.

Sample Strategic Planning and Analysis For Panera Bread Company

Adam Link is an avid follower of the financial markets and constantly looking for the next arbitrage opportunity. He has written on topics ranging from debt markets to Internet start ups to complex financial transactions. His passions include his company, Liekos Group (found online at http://www.liekosgroup.com), and traveling when his schedule allows.

His website is http://www.liekosgroup.com, an online holding company that specializes in website management, capital management, and is venturing into real estate.