NUTTY SOCIETY Health Nuts Who Made a Sports Bar & Grill That Lets Our Menu Do the Talking

Transcription

1 NUTTY SOCIETY Health Nuts Who Made a Sports Bar & Grill That Lets Our Menu Do the Talking November 2014 Business Plan Emily Adair Emily Quinn Jennifer Newkirk Theresa Carmichael Kaila Raygoza Julia Antonelli

2 1. Company Summary Nutty Society is a sports bar and restaurant serving up a variety of foods for health conscious individuals 21 and older. It is owned by Eric Leitstein, successful San Diego restaurateur, and Emily Adair, Emily Quinn, Kaila Raygoza, Theresa Carmichael, Julia Antonelli, and Jennifer Newkirk. With the rise in obesity and chronic disease in the United States, Americans have become more concerned about nutrition and health in recent times. However, they do not want to sacrifice having fun and watching their favorite sports teams to be healthy. Nutty Society s mission is to provide the same great atmosphere of typical sports bars but replace the high-fat fare with healthier alternatives. 2. Executive Summary 2.1 Team and Ownership Structure Nutty Society will be owned by Eric Leitstein, Emily Adair, Emily Quinn, Kaila Raygoza, Theresa Carmichael, Julia Antonelli and Jennifer Newkirk. The business will be structured as an LLC, with each member contributing to all aspects of the business. Kaila will be the main shareholder because of her substantial initial investment, and will thus get 30% of profits. The remaining members will split profits evenly at 11.6% Product/Service Description Nutty Society attracts prospective customers by offering an exciting and unique dining experience. High quality and healthful food, friendly and professional service, and an entertaining, sporty environment differentiate Nutty Society from its competitors. Lunch and dinner are offered seven days a week. The menu is the same for both lunch and dinner and is located in Appendix 1. Nutty Society is planning on introducing new menu items as time, profitability, and season permit. Furthermore, as a recognized local authority on healthy cooking, we plan on including detailed recipes from a few select menu items on our website to be rotated monthly. 2.3 Company Facilities Nutty Society will be located at th Avenue in San Diego, California s Gaslamp district. At 3,047 square feet, the facility will include a 150 person capacity seating area, with an additional fourteen seats at the bar. Space will be available for foosball as well. The back of the house will include the kitchen, prep areas, dry storage, and an office. 2.4 Health Repercussions Nutty Society offers healthy alternatives to the high fat meals competitive sports bars offer. Nutty Society is aware of the obesity epidemic in society and offers seasonal menus with a plant based meal plan. The menu items are baked, grilled, or broiled instead of typical fried food offered at sports bars. Nutty Society also promotes responsible drinking. Nutty Society is aware of the impact restaurants can have on the environment and offers unique options to reduce waste and decrease the carbon footprint on the environment. It does this by recycling, composting, reusing materials, and using energy efficient appliances and monthly checks and trackers to ensure compliance.

3 2.5 Marketing Strategies Nutty Society s main source of marketing will be social media. We utilize only the most popular social media networks such as Facebook, Twitter, Pinterest and Instagram. This is important because many people like to share and scope out reviews before they try a new restaurant. With our great reviews and strong media presence, our favorite sports fans are more likely to give our new restaurant a try. The figure below shows how important social media is to businesses, and why it is important to our success. 2.6 Major Goals Nutty Society s top short-term goals include hiring staff who provide excellent service, keeping food costs less than 40% of revenue, and increasing average guest check size by 20% within one year. In the long term, Nutty Society plans to expand our dedication to sustainability, expand the restaurant within five years, and become known as being one of the top restaurants for good service. 2.7 Reason for Investment Nutty Society is a restaurant that is providing what San Diegans want and need: a place to watch their local teams win that offers fresh, healthy food. It s all the fun without the guilt and extra pounds. Not to mention, Nutty Society is located in one of the busiest areas of San Diego, Gaslamp Quarter. This area is nearby Petco Park and the Convention Center, both of which draw large crowds into the area. Nutty Society is managed by owners with years of experience, including successful San Diego restaurateur, Eric Leitstein. With their combined knowledge and expertise, this business is sure to be a home run.

4 3. Company Description 3.1 Team and Organization The ownership structure of this restaurant will be a limited liability company (LLC) owned by Eric Leitstein, Emily Adair, Jennifer Newkirk, Julia Antonelli, Theresa Carmichael, Kaila Raygoza, and Emily Quinn. Eric Leitstein, experienced restaurateur who operates the PB Ale House in Pacific Beach and Union Kitchen and Tap in Encinitas, will act as the general manager of the establishment and be in charge of the main operations because of his extensive experience working in bar and grill type restaurants in San Diego. Emily Quinn will act as the Assistant Restaurant Manager because of her six years of experience in this position at a similar restaurant. Theresa Carmichael and Kaila Raygoza will be Dining Room Managers as they have over twelve years of combined experience working in the dining room. Jennifer Newkirk and Julia Antonelli will act as the Beverage Managers because they bring head bartender experience. Emily Adair will act as the bookkeeper as she has business experience, as well as knowledge of bookkeeping and accounting principles. An Executive Chef will be hired through Eric Leitstein s contacts, and the chef will act as the kitchen manager. Organizing as a LLC protects the owners personal assets, allows an unlimited number of owners, and avoids double taxation of the owners and the business. The corporate culture of the organization will be one that makes the restaurant a great place to work and visit. Since the restaurant creates better-for-you versions of typically unhealthy fare, the organization will place an emphasis on the health and wellness of its employees and customers. Employees will be given a discount on menu items, and optional participation in races and other physical activities will be organized for off-work hours. In addition, owners will provide healthy cooking classes to employees to teach them about the menu and nutrition. Although this is a traditional organization, we will empower hourly employees by encouraging them to share their ideas with the management. Employees will be rewarded for their hard work and superior performance. The organization will be structured as a traditional organization to establish lines of authority and create order in the restaurant. Each person will have a job description outlining their specific tasks and duties to ensure that each task is completed efficiently. Along with this is departmentalization in that each manager is responsible for a certain aspect of the organization. For example, there are managers for beverages, the dining room, and the kitchen. Integration will exist in that each unit will work together to make the restaurant run smoothly. For example, the kitchen will work with the dining room to ensure food is served properly. Lines of authority will exist in the restaurant, so the general manager will be in charge of the overall operations and have final say on the vision and strategy of the restaurant. Finally, administrative systems will exist in that the general manager will create formalized policies, procedures, and controls to be followed by the rest of the staff. See below for organizational chart.

5 3.2 Products and Services With the rise in obesity and chronic disease in the United States, Americans have become more concerned about nutrition and health in recent times. However, they do not want to sacrifice having fun and watching their favorite sports teams to be healthy. Nutty Society caters to both of these needs by providing the same great atmosphere of typical sports bars but replacing the highfat fare with healthier alternatives. At Nutty Society, patrons are seated by a host/hostess and order their meals and drinks using a touchscreen. Bar seating and take-out are also available. The menu consists of a variety of healthier appetizers, salads, sandwiches, sides, and non-alcoholic and alcoholic drinks (Appendix 1). Our health-conscious mission also extends to the health of the environment. We strive to procure 80% of our produce and meat from local farms. See Table 1 for a selection of our products and prices Table 1: Products and Pricing Product Cost Price Profit Source Food Service Cauliflower Wings Direct/Local Growers Food Service Crispy Kale Salad Direct/Local Growers Grilled Ahi Food Service Sandwich Direct/Local Growers Food Service Caprese Sandwich Direct/Local Growers

6 Grilled Chicken Sandwich Food Service Direct/Local Growers 3.3 Operating Plan Location and Size of Facility Nutty Society Sports Bar and Grill is located at 770 4th Avenue in the heart of downtown San Diego s Gaslamp district. The area is well-known for its booming nightlife and entertainment venues including well scheduled events such as Mardi Gras, Street Scene Music Festival, and St. Patrick s Day. The location is also within walking distance of San Diego renowned Petco Park Stadium. The size of this facility is 3,047 square feet and situated on a one-way street leading to the main Gaslamp entrance and averages 15,000 vehicles per day. Westfield Horton Plaza is steps away providing easy free parking options for customers Lease and Utility Estimates Averages lease estimates for the area and building are $45.00 per square foot per year, which translates to $3.75 per square foot per month. This would put the average rent cost per month at $11, per month. Monthly utilities including internet and phone service will cost about $2, Major Equipment, Source, Energy Requirements and Cost Equipment Cost Energy Consumption Energy Cost/Day Energy Cost/Month Energy Cost/Year Vulcan 48" Countertop Gas Griddle Vulcan Gas Convection Oven - Double Deck Kolpak Walk-In Cooler Kolpak Walk-In Freezer Insinger Door Type Dishwasher $2, ,000 BTUh $32.54 $ $11, $6, ,000 BTUh $28.84 $ $10, $5, BTUh 0.56 $16.96 $ $6, ,000 BTUh $1.26 $38.15 $ $7, ,500 BTUh $0.49 $14.84 $ Total $28, ,400 BTUh $63.69 $1, $23, Source:

7 3.3.4 Staffing Shift Hours NUTTY SOCIETY DAILY SCHEDULE OUTLINE AM Shift Monday Tuesday Wednesday Thursday Friday Saturday Sunday Prep Cook 7a 8a 7a 10a 7a Line Cook 10a 8a 10a 7a 8a Exec Chef/Kitchen Manager 11a-8p 12p 10p 12p- 10p 12p-10p Server 10a 10a 10a 10a Server 10a 10a 10a 10a Server 10a 10a 10a 10a Server 10a 10a Floor Manager 10a 10a 10a 10a Bartender (hours vary) PM Shift Line Cook 3p 3p 3p 3p 3p Line Cook 3p 3p 3p 3p 2p Line Cook (on call) 2p 2p 2p Server 4p 4p 4p 4p Server 4p 4p 4p 2p Server 4p 5p 5p 2p Server 4p 4p 4p 5p Floor Manager (shifts vary) Bartender(s) (Hours Vary) Operation Hours: Mon Sat 11:00 am 2:00am. Sun 12:00p 8pm. Schedule subject to change to reflect sport league seasons and local games. Busser, dishwasher, drink runner, and bouncer schedules not listed. Positions, hours and staff are subject to change after opening based on business and operational needs.

8 4. Health Repercussions and Analysis 4.1 Customers Health Nutty Society s cooking philosophy is based on health. Dishes are cooked from scratch and the freshest ingredients are used. Nutty Society cares about each and every patron s health and the health of their friends and families. Patrons are fed as if they are family members invited to a home meal. Obesity is increasing in America, and for that reason Nutty Society s menus are constructed upon a plant-based diet. Plant-based diets have been shown to be an effective weight loss strategy along with reducing the prevalence of heart disease, high blood pressure, diabetes, and mortality (1). Nutty Society offers its customers fruits and vegetables from certified organic farmers. Organic produce has a reduced contamination of pesticides, which have a correlation with the increased risk of cancer, birth defects, and neurological damage (2). Meat options are also available for patrons who prefer eating meat. The meat provided will be sourced from farms certified as humane through The Humane Farm Animal Care organization, Food Alliance, or Animal Welfare Approved Corporations. These certifications will ensure the animals were treated humanely and were not fed or treated with antibiotics or hormones (3). According the U.S. Centers for Disease Control and Prevention (CDC) the leading cause of antibiotic resistance in humans has a direct relation to antibiotic use in feeds and injections of animal meat (4). Entrees offer portion sizes in reference to my plate and USDA's dietary guidelines. Nutty Society puts the greatest effort to offer well-balanced nutritionally dense foods. Whole grains are used for sandwiches when possible. The cooks use healthy fats within moderation, reduce added sugars and decrease sodium. All recipes are made from scratch in order to minimize processing. All items are broiled, steamed, or grilled to add depth and flavor to items. There are no frying or trans fats used within the establishment due to health concerns (5). A Nutritional analysis of all recipes will be given upon request to customers. Owners of Nutty Society have backgrounds in nutrition and each owner takes turns delivering classes to inform employees about our healthy cooking to ensure they are able to promote Nutty Society s nutrition motto with the correct information. 4.2 Environmental and Global Impact Nutty Society is extremely aware of the impact it has on the environment and the globe. It is our motto to lead by example to recycle and reuse. Employees will be taught about environmental friendly practices and shown how they can make an impact. Signs will be strategically placed in order to encourage greater compliance to sustainability efforts. Nutty Society feels one person can make an impact and education is the first step. Plant based diets when compared to animal diets have been shown to be more sustainable due to the decreased use of natural resources and overall reduction of greenhouse gas emissions (6). This is yet another reason to why the menu is plant-based, meats are only an option, and cheese is not offered to every dish.

9 Food for Nutty Society is purchased with the consciousness of the carbon footprint repercussions. Majority (80%) of food is purchased locally (100 miles) and regionally (300 miles) to reduce the carbon emissions of travel. In 2007 two billion metric tons of CO2 emissions was reported due to transportation miles (7). Nutty Society pledges to not purchase foods that need to be air freighted such as fish or tropical fruits. Owners and employees will visit and develop a working relationship with the local and regional farms, to know where purchased food comes from, and hopefully share the experience. Nutty Society tracks waste closely. A compost bin is offered for all table scraps and product waste that is not edible. The compost bin will be picked up by San Diego Miramar greenery. Food that is projected to be not used will be developed as a special for the menu. This is the time that chefs are able to be creative and offer new items. All parts of the products purchased will be used in one fashion or another. Once the products are made into specials and not sold, they will be donated to local community centers or homes to be served for a meal. Safety of our product will be first priority and may need to be frozen and transported. Waste amounts will be reported to the head chef for tracking. Serving sizes, purchasing, and menu options will be evaluated for future development based on waste tracking. Appliances purchased are for max efficiency with least amount of energy used. Energy Star appliances are used. Employees are taught to use the appliances in the most efficient manner. Trend of busy times and idle times will be evaluated and once established a startup/shutdown schedule will be given. Appliances will have a monthly service by managers to ensure proper working order. This will reduce the amount of energy waste. Any leaks or waste will be found through tracking energy use by bills and by visual cues. All lights will be CFL, which have been shown to reduce carbon dioxide emissions by 645 million pounds (8) Watersense toilets will be implemented along with high efficiency pre-rinse spray valves. All paper products will be made from recycled and biodegradable material, including menus and to-go boxes. Receipts will be given electronically through the touch screen boxes. Electric hand dryers will be placed in the restrooms to reduce paper towel waste, and cloth napkins and metal silverware will be used. Furniture will be recycled from a local auction to promote upcycling. Decorations and art work will be displayed around the bar to show support for the community. 4.3 Green Future To promote others to follow sustainable practices, Nutty Society works with the Urban Corps San Diego association, a certified local conservation corps and charter school. Young adults learn how to incorporate new green technologies to businesses through on the job training and community service. Nutty Society hires individuals to help with the restaurant production and donates to the school.

10 5. The Market 5.1 Market Size and Trends Some of the best sports bars in the nation have tokened themselves for having the greasiest highest-calorie foods from chili cheese fries to deep fried Twinkies. These places are known to be the one place a group of friends can come and feel like they are at a sports stadium. The atmosphere consists of high-volume crowds, heavy beer drinkers, and loud-mouthed sports crazed fans; all the best things about the American sports bar. Well, Nutty Society plans on putting a twist on this tradition. In California, the restaurant industry is a driving economic force. Not only do these sales generate enormous tax revenues, but also provide jobs and build careers for thousands of individuals. California alone houses about 65, 363 restaurants statewide. This adds up to about $69.7 billion in sales (9). As for sports bars, they are among the most popular restaurants of them all. Of the many locations people go to have a wild time, about 31.7% of them are sports bars (10). These locations are professionals in the industry and always strive to welcome the best games showing on almost every TV. A recent news article explains that while the typical dinner restaurants react to the economic downturn by consolidating and closing establishments, casual dining restaurants with sports bars appear to be recession-proof (11). Other entertainment is commonly found at sports bars including board games, live music, or even gambling. To our knowledge, Nutty Society will be one of the very few sports to specifically promote healthy eating at glance, and the only restaurant of its kind in San Diego. As the trend for healthy eating continues, more restaurants are to follow. The obesity rate has risen to an all-time high as shown below, and the most recent studies have shown that Americans are finally starting to consume fewer calories and cutting back on foods high in cholesterol and fat.

11 Although the progress is slow the evidence is there. Working-age adults consumed an average of 118 fewer calories a day in the period from than four years earlier, according to a study released by the U.S. Department of Agriculture. These findings add to the notion that the nation s eating habits may be taking a turn for the better (12). In order to cater to these millions of people that are choosing healthier alternatives, Nutty Society offers the same sports bar atmosphere, with the new healthful taste. Competing organizations, as listed in the next section, are those sports bars looking to include healthier options on their menus. Due to the overwhelming trend of lower calorie foods, some restaurants have taken advantage by including healthy meals indicated with symbols or nutrient analysis within their menu. For example, the National Restaurant Association is looking to team up with restaurants looking to cater to the health-conscious consumer cravings. The NRA works with the restaurant industry, food manufacturers and suppliers, policy makers, nutritionists, and consumers to help restaurants with this growing demand (13). A sports bar is not a true sports bar without the sports fans. The patrons we tend to at this establishment are the sports-loving fans we all know and love. We have a special place at our restaurant for those looking to have a great time, have a few drinks, some good food, and still make to the gym or practice the next morning without the feeling of regret. All of the San Diego community is welcome along with our favorite touristy friends. Patrons must be 21 years of age with a valid government issued ID. Identification will be checked at the door during all sporting events. All demographics are welcome. 5.2 Competitive Analysis Trend/Niche Location Hours Nutty Society Healthy meals with a sports bar atmosphere Downtown San Diego, Gaslamp 10am-2am, Monday to Sunday Time Out Sports Tavern small town, secret sports bar Downtown San Diego 11am-1am Monday to Sunday Miller s Field Baseball themed, plates and pints Pacific Beach 11:30am-last call Monday to Sunday

12 Products Cauliflower buffalo wings, fresh cocktails with fresh juiced fruit and veggies Bacon wrapped jalapenos, ceviche, nachos, burgers Pizza, gluten-free options, calamari, fried chicken wings $ $$ $ $$ How They Excel Areas to Improve Digital touchscreen box (new technology) lower prices to be offered cheaper prices, following for small town feel Location, shortage of open seating Large venue, college atmosphere, beer bongs, seasonal games Odd layout, more outside seating The primary competitive advantage we see with our company is that it is the first of its kind. When word around the street hits that there is a sports bar out there that looks after your figure, people will absolutely notice. Our emphasis on uniqueness is sure to stand out. Low-calorie cocktails and entrees make it easy to enjoy a night out, without breaking their diet. There is no longer such a thing as a cheat meal in our restaurant, just good grub and healthy options. In a population where everyone is choosing beer, shots, or the conventional means to express themselves leisurely we hope to offer a trendy alternative that breaks the status quo. 5.3 Marketing Strategy With fewer than 25 companies accounting for one-third of all restaurant sales in the United States, it s not easy being an independent restaurant. People are comfortable with chain restaurants that they already know and love and these are the companies whose advertisements flood the market. For independent restaurants, marketing can be the key to success. Our main source of marketing will be social media. Between some of the most popular social media platforms such as Facebook, Twitter and Instagram, we hope to spread the word about our sports bar and what we are all about. Our management team will be responsible for posting everything from events, game day specials, and pictures of our favorite menu items. If guests check in on any of these platforms, we will offer a free appetizer as a token of appreciation. Yelp is another marketing tool that can attract new guests. At the bottom of each receipt, we will have a section letting our guests know that if they write us a yelp review, they will be entered to win a $100 tab on us. The drawing will take place once a month as a way to show our guests our appreciation. Signs around the restaurant will also advertise this Yelp offer. Yelp is important because many people like to read reviews before they try a new restaurant. With good reviews, people are more likely to give a new restaurant a try. Our website will include our full menu (food and drinks), hours of operation, happy hour and game day specials, and a full nutrient analysis for all the health nuts. Branding yourself is absolutely necessary in this industry. An effective brand strategy can give a restaurant the competitive edge it needs to succeed. When creating fliers and other marketing tools, the theme and logo will always be consistent so clients start to recognize our brand. Our staff will leave fliers throughout the community with coupons attached to attract new health conscious customers. We will be sure to continuously evaluate our market and gauge the competition to ensure our marketing tactics are effective. Being the only sports bar of its kind in

13 our area, we will use that as a marketing strategy to attract new patrons. As we grow and expand, we hope to expand our marketing through television commercials and more. Marketing is one of the most valuable investments and can make or break your establishment. Our company utilizes the use of emerging technology by purchasing some of the newest machinery in the restaurant business. Nutty Society will use digital touchscreen boxes at each of the dining tables for ordering. All drinks, appetizers, entrees, etc. will be accessed through this touchscreen mechanism. Customers will also be able to pay their bill/tab through the touchscreen. This technology allows our health conscious customers to produce 96 variations of the foods in order to meet their dietary restrictions. This restaurant will give off a grab-and-go feel with the use of this technology. Although this technology can be pricey, we must pay for customer convenience. This will also allow us to stand apart from our competitors to create even more of a competitive advantage. 6. Goals, Risks, and Strategies 6.1 Short-Term Goals Service is an important part of a restaurant s success. Therefore, one short-term goal of Nutty Society is to find experienced chefs, entry-level cooks, friendly servers and happy hosts to have high employee retention. In order to accomplish this goal, great care will be taken during the hiring process to ensure staff not only have relevant experience, but also support the corporate culture and share the vision of Nutty Society. Management will use behavioral interviewing techniques to hire staff that believe in and demonstrate the behaviors Nutty Society stands for. A second short-term goal of Nutty Society is to keep food costs less than 40% of revenue. This will be attained by finding affordable vendors, maximizing resources, and keeping food waste to a minimum. Chefs will be required to track food costs on a daily basis so ordering can be adjusted based on sales. Also, inventory will be tracked to ensure only needed food items are ordered. Kitchen staff will be trained to measure portion sizes of proteins, and servers will be trained to sell low cost menu items to customers. A third short-term goal is to increase average guest checks by 20% in 1 year. Servers will be trained to up sell guests to purchase drinks, appetizers, and desserts. Employees will be incentivized through weekly contests among servers. A per-guests averages spreadsheet will be posted next to the shift schedules with the winning server s name highlighted. High-performing servers will be rewarded with the best table sections and shifts. 6.2 Long-Term Goals Concern for the environment has grown in recent years, so Nutty Society plans to reduce our environmental impact by adopting two new sustainability practices each year. Part of this goal includes becoming LEED certified, reducing energy consumption, reducing water consumption, and implementing a waste-recovery project. Employees will be trained on ways to save energy and water. We will purchase energy-efficient equipment, turn off equipment when not in use, and control the thermostat. Nutty Society will strive to decrease trash and instead recycle and compost as much waste as possible.

14 Another long term goal is to expand the restaurant within 5 years. Based on customer interest, this could include catering, a second location, and/or being open for breakfast. A customer interest survey and competitive analysis will be completed over time to determine what option(s) will be the most profitable for the company. A final long-term goal of Nutty Society is to be known as providing great customer service. To accomplish this, we will develop an employee training guide and require employees be trained to provide good service. The employee training guide will include rules/guidelines for providing good service, including greeting guests as they walk in the door, creating a friendly atmosphere, and keeping a clean restaurant. Customer feedback will also be collected and implemented. 6.3 Risk Analysis Goals Potential Barriers Risk Mitigation High employee retention Keep food costs low Increase guest check size Reduce environmental impact Expand the business Although the right people are hired, they find better opportunities elsewhere and quit Food prices increase, so some menu items become more expensive to make creating a smaller profit margin Although employees are trying to up sell, customers are not interested and guest check sizes are not increasing Short-term: Employees are trained but not compliant on decreasing energy/water use and recycling Long-term: A few sustainability practices are implemented within the first couple years, but then no new strategies are implemented as the restaurant gets busier Short-term: The expansion seems far off, so no information is gathered from customers about what type of expansion they would utilize Long-term: The owners disagree on how to expand the business, so not decision is made Create an employee incentive program to reward excellent performance and create a corporate culture of integrity and fun to make Nutty Society a top place to work Keep track of menu item costs and profits; rotate menu items that have seasonally high costs to keep food costs down Offer specials throughout the week on different add-on items, like desserts and drinks so that customers taste them once and then choose to purchase when they visit again Short-term: Create a sustainability policy that must be followed by employees, including that consequences will exist for those who do not abide by the rules Long-term: Create a 5 year plan with two sustainability practices to be implemented each year and include the person responsible for ensuring that the plan is implemented Short-term: One owner is responsible each day for going around to customers tables to ask about their experience and gather input Long-term: One owner, Eric Leitstein is given the final decision because of his extensive experience and financial contributions to the business

15 Provide great customer service Short-term: Employees are unclear about the expectations of management so service is not up to par Long-term: Customer service is a top priority within the first couple years, but then drops off as a concern, less emphasis is placed on customer service by management, and service becomes stagnant or declines Short-term: Great customer service is part of the mission statement of the restaurant, which is posted in a visible location for employees; the employee training guide includes specific and implementable expectations for customer service for employees to follow Long-term: One of the dining room manager s main responsibilities will be customer service and employee training so that expectations are always being met or exceeded by employees 7. Financial Assumptions 7.1 Start-up Costs/Expenses Item/Expense Cost Explanation Security Deposit $11, First Month s Rent $3.75/sq. ft. First Months Utilities $2,500 Internet/Cable/Phone/Gas/Electricity Construction $260,000 Includes customized build-out of kitchen/bar space expansion. Tables/Furniture $40,000 Tableware/Utensils/Dishes/Kitchen and Bar Equipment $80,000 Initial Supply of Food and Beverage $8,000 Initial order is small until we are cashflow positive. Micros POS $15,000 Emily Quinn, Kaila R and Theresa C have over five years experience using Micros. Flat Screen TVs $ $2, Foosball Tables $ $1,000 Opportunity to generate more income. Expected full return on investment within the first year. Insurance (Annual) $14,800 General Liability, Farmers Insurance

16 Signage $5,000 Menus $1,500 Business Cards $140 Total cost for all six members Public Relations Services $6,000 Hired J Public Relations Restaurant Opening Event $15,000 Total Initial Investment: $474, Table 7.2 Summary of Financial Plan Investor Amount Kaila Raygoza $425,000 SBA 7(a) Loan $75,000 Investors: Kaila Raygoza was blessed with a family that made a fortune following their invention of The Doggie Highchair TM. She received a considerable amount of money on her 21 st birthday, which she further invested and made even more money. She is rich and therefore investing $425,000 of her own money for initial startup costs. As the largest contributing member, Kaila will own 30% of the company, with the remaining ownership divided equally among the five other members. Loans: An additional $75,000 will be acquired via a Basic 7(a) SBA Loan to cover the remainder of start-up expenses, with just over $25,000 left over for anything that might have been overlooked.

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