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The Mark's Restaurant and Lounge BUSINESS PLAN 1

   

Added on  2020-05-28

25 Pages6521 Words429 Views
Running head: BUSINESS PLANBusiness Plan[Mark’s Restaurant and Lounge]Name of the StudentName of the UniversityAuthor Note

1BUSINESS PLANTable of Contents1.0: Executive summary..................................................................................................................32.0: Company Summary..................................................................................................................42.1: Company Ownership............................................................................................................52.2: Start-up Summary.................................................................................................................52.3: Mission.................................................................................................................................62.4: Objectives.............................................................................................................................72.5: Keys to Success....................................................................................................................73.0: Services.....................................................................................................................................83.1: Pricing and profitability........................................................................................................94.0: Market analysis.........................................................................................................................94.1: Market segmentation..........................................................................................................104.2: Strategy for market segment...............................................................................................114.3: Strategy and implementation..............................................................................................114.4: Competitive edge................................................................................................................125.0: Competitors............................................................................................................................136.0: Marketing strategy..................................................................................................................146.1: Marketing program.............................................................................................................156.2: Local marketing..................................................................................................................167.0: Sales strategy..........................................................................................................................16

2BUSINESS PLAN7.1: Sales forecast......................................................................................................................168.0: Web plan summary.................................................................................................................179.0: Management summary...........................................................................................................179.1: Management team...............................................................................................................189.2: Personnel plan.....................................................................................................................1810.0: Financial plan.......................................................................................................................1810.1: Profit and Loss Statement for the company......................................................................1910.2: Balance Sheet for the company........................................................................................2010.3: Cash Flow Statement........................................................................................................2111.0: Appendices...........................................................................................................................2311.1: Appendix 1.......................................................................................................................2311.2: Appendix 2.......................................................................................................................23

3BUSINESS PLAN1.0: Executive summaryMark’s restaurant and lounge will be a restaurant that will have a capacity of 50 in the restaurantwhere as the lounge can handle almost 25 people. The main focus of the company will be on themenu that will be traditional North American and Swedish with a hint of influence from Asia.The company will be located in the recently constructed Palm Jumeirah, which is a man-madeisland and consists of many high rise apartments. The future of the place is promising, as there are many first-class projects that are beingdeveloped in the area. There are many apartments along with condos, which will help therestaurant in running successfully over the whole year. The space will be friendly and will helpin providing excellent quality of food. The restaurant will also house a fine dining place alongwith a lounge so that it can attract the customers who are looking for a new experience in dining. The lounge will consist of comfortable couches with antique seats so that it can provide thecustomers the warmth and cozy atmosphere as well. The restaurant will consist of the menu thatis inspired from various countries so that it can attract diverse customers. The Swedish delicacieswill consist of meatballs, gravlax and herring along with a Asian style chicken, black bean sauce,tofu and spinach. The entrée dishes will consist of an American meal as well such as baked beans and barbecuedribs of beef. The menu will be changed after a period of 4 months so that new specialties can beprovided to the customers and will be in competition with the other restaurants that are present inthe area as well.

4BUSINESS PLANThe restaurant will be open on all the days and attractive night themes will be done so that it canattract the new customers. The use of soft music, warm colors and better levels of artwork fromaspiring artists will help in developing a better sense within the community so that it can help incatering to the various needs of the customers. The services that will be provided will be done in a friendly manner by hiring the best people andproviding them with training. The training facilities will help in encouraging and motivating theemployees to serve the customers in an efficient manner. The team of management within thecompany will consist of people who have more than 10 years of experience in the field ofrestaurant and catering along with marketing and finance. One of the important parts of the business will be the catering services and the business will be ina partnership with the Sam Catering Agency, which has its own set of clients. They have years ofexperience in setting up events and birthday parties so that it can be memorable to the customers.The total allocation of sales in the restaurant and catering will be 85 and 15 percent respectively. 2.0: Company SummaryMark’s Restaurant and Lounge will consist of a North-American and Swedish influencemenu along with a hint of the Asian spices within a cozy environment. The choice of the menu isthat it will deal with the specialties of the various cuisines so that it can attract a large number ofcustomers. The restaurant will offer lunch and dinner on a fixed menu apart from the regularitems that are listed on the menu. The restaurant will be opened everyday of the week and lunch will be served between11:00 AM to 3:00 PM and dinner will be available from 6:00 PM to 11:00 PM on all days. Therestaurant will also host brunch on Sundays between 12 AM- 3 PM. The restaurant will also host

5BUSINESS PLANmany paintings from new artists so that they can get a platform for show casing their talents sothat it can help in providing a friendly atmosphere within the community. The company will also have special evenings for Wine Tastings along with a proper mealset so that it can help the community in acquiring a taste in the delicacies and communicate witheach other in a proper manner. 2.1: Company OwnershipThe company will be formed by taking up a loan of an amount of $115,000 at a rate of 7percent as interest. Additional $60,000 will be used as capital that will be provided by theentrepreneur and a further amount of $125,000 will be raised from the potential investors whowant to be in partnership with the company. The company will maintain a conservative policywith respect to the philosophy of the investors, as most of the start-ups of the restaurants arespeculative in nature. The investors of the company will be provided with a generous amount ofreturns while maintaining an efficient flow of cash for the operation of the business. 2.2: Start-up SummaryThe company will be established by Mark Thompson along with his friend ThomasFriedrich. Mark will be responsible for looking after the affairs of employees and handle thekitchen as well where as Thomas will look after the financial issues of the company. Thecompany will be scheduled to open in May 2018. The company will be opened up by investing a personal capital of $60,000 along with aloan of $115,000 and funding of $125,000 from the investors, as the capital that will be requiredfor starting the company. The total cost of the start-up is $300,000, which will be used for

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