Object: Develop the Bergen Gastropub Experience in Bergen City
Total investment: € 500 000,-
Minimum investment: € 10 000,-
Requirements for participation: Associated with LFCG
Start date: 1. November 2019
Project type: Joint venture
Goal: operational late 2022
Country of origin: Norway
Bergen is the second-largest city in Norway and is an international city with small-town charm and atmosphere. As a World Heritage City and as The Gateway to the Fjords of Norway – Bergen has attracted visitors for more than 900 years.
With its 260 000 inhabitants and 30,000 students, Bergen is a lively city with a lot to offer within culture, music, theatre, and nightlife. Bergen is easy to get to, from the rest of Norway and from abroad, thanks to non-stop flights such as Amsterdam, Berlin, Copenhagen, Frankfurt, London, Paris, and Stockholm.
Due to many direct flights as well, you only need to change planes once to reach Bergen from far-away destinations. Bergen is the Gateway to the Fjords of Norway because of the city’s surrounding by one of the world's most spectacular tourist attractions - The Norwegian Fjords, which have now been included on UNESCO's World Heritage List.
Bergen is situated between the longest fjord Sognefjord and the beautiful Hardanger fjord.
Expectations to project
LFCG expectations to project participants
Wants to be an active part of the project
Has a genuine interest in the project
Wants to utilize the end product in their own business
Wants to grow into new markets
Will contribute to the project's success, when able.
Participants expectations to LFCG
Transparency throughout the process
The extraordinary ability for implementation
The dual expectation for the project
Let's make it a success
Let's make it a good experience
Let's make it something we all want to do again
LFCG SECRET SAUCE
All our projects are developed together with our clients, partners, and stakeholders.
All our projects will be utilized by our clients, partners, and stakeholders.
All our projects have integrated all the services LFCG provides, from the get-go.
What do we want to create?
We want to build a The Bergen Gastropub experience in Bergen City. A gastropub that combines fine dining, eloquent cocktails, and a lounge feel.
We want to develop a Gastropub loved by locals and adored by tourists
We want a small but beautiful menu compiled of local foods and international fusion techniques when prepared. The menu will be fast food inspired but with a really elegant touch.
We want the food to be able to be eaten as single dishes at an elegant bar
We also want the food to be able to be served a tasting menu, small but elegant, at tables.
We want to serve local beverages such as cider and beer, as well as famous national and international brands
We want to build a “green destination.” Meaning a destination that produces a carbon deficit hence contributing to bettering the environment.
We want to build a high tech destination, utilizing all LFCG accelerator projects such as IoT dashboard for smart buildings, Ibeacons, and VR and grid battery technology
We want the destination to be a franchise of our Franchise “The Gastropub Experience” which should help to provide the destination with enough clients to be cash flow positive from day one. While having access to all necessary data systems, work routines, work activities, other resources, and other necessary systems.
STATISTICS & DESCRIPTION
20-60-20, the modern market.
There is the top section which contains 10-20% of the company's, they are experiencing immense growth at rates of 30-40% annually. These are the companies who are able to utilize new technology to their advantage
Then there is the midsection in the market which accounts for about 60% of the companies who are on a small but steady decline. Trying, but not really succeeding in implementing new technology
And then there is the bottom section, which also accounts for 10-20%. They are basically on their way out and losing. They only use or implement new technology when they have to it is too late.
50-50, End users, the buyers
On the left side of the axes, we can find the innovators, early users, and early majority. These customers represent about 50% of the market. Their common traits are knowledgeable about their needs, ambitions regarding their position in the market, always on the lookout on ways to improve their lifestyle and willingness to pay for the right service. On the right side we find the customers whose common traits are that they buy a service because they have too, they don't really know what they are buying, price is the most important factor, they don't generate added sales and they don't really utilize the service do to a lack of basic understanding.
20-80, the service providers
We have found that 20% of the service providers serve the left side of the market, where there is money, ambitions, and references. The other 80% of service providers are dividing the other 50% of the market where there is a lack of knowledge, willingness to pay and buying is done on price and needs. To be amongst the 20% you need to have the services the top 50% clients require.
Distribution of Clients
PROJECT DESCRIPTION & LFCG BACKGROUND
In our R&D apartment, new areas for business is found constantly
Sometimes we find something that is extraordinary and has the potential to be a cash cow if utilized properly
At that point, we define it as a premiss, as in what needs to be done to realize it as a project
We do a survey with our stakeholders, meaning clients, partners, and others. We want to know if they see the potential we are trying to outline, see the potential we haven't identified and/or believe they would use it/invest in it, if we develop it.
Based upon those result we present a development case to those different service partners in LFCG who does development of those sorts.
Those developers give us an estimate on a price and timeline for the project
Together with other relevant services or business partners in LFCG, we develop a business case for the project.
Then we present this business case to our stakeholders, to see whether they want to participate in such a venture.
As soon as the project is funded to a minimum viable product, we start the necessary processes
The organization meanwhile is built upon LFCG services
About 6 months before the finished article, we start sales and marketing activities
When the six months are up, all property related to the product are phased into a company of its own owned by the project investors
The project stays as a part of our portfolio and is offered to new stakeholders as LFCG keep penetrating new markets
L&F CG works with companies in real estate. We collaborate with several academic institutions and translate their, and others, research to impact assessments. These impact assessments are then shared with our partners to create business models that meet the needs identified in the different impact assessments. Our service and business partners are in the top tier of their fields and are recruited especially to make sure our services are as good as they can be.
At LFCG, we pride ourselves on building services streamlined for creating sustainable business growth. Our MO (modus operandi) is developing business models that can be implemented in any business within our core markets. With a basic “plug and play” and easy to use implement function, while at the same time educating our clients in usage and optimization of the service at hand.
THE CORE VALUES AT LFCG
We know our trade to the extent that we can find a way around any obstacle that arises.
All our professionals have unique expertise with the service they provide trough L&F CG. Talent is an x-factor in the production which allows L&F CG as an organization to expect a little more and a bit better than from anyone else.
We will always deliver accordingly to your expectations, what has been promised, and what is possible.
Good or bad, any deviation from terms, progress, or such. Will be communicated in such a way and time that alternative measurements can be implemented.
We will dress, act, and behave accordingly to any reasonable expectation any of our stakeholders might have for us.
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Presenting L&F Venture
The L&F Venture businessmodel is to develop boutique destinations in collaberation with our clients, servicepartners, businesspartners and other stakeholders. The same group which also represents the majority of the destinations vendors and customers. That way we know and can cotroll the demand on the destination, before we initiate anything. We do not start developing, before we know we can provide an ROI of at least 20%. We only do development in countries where we are represented.