This restaurant business plan is for Studio67, a new medium-sized restaurant located in a trendy neighborhood of Portland, Oregon. Studio67 will place a strong emphasis on organic and creative ethnic cuisine. Studio67’s commitment toward sustainable development has resulted in an emphasis on organic foods. The restaurant also tries to source local ingredients whenever possible, which reduces the dependence on fossil fuels that are used for transportation.
Studio67 offers Portlanders a cool, casual place to enjoy great food in an informal setting. Chef Mario Langostino has a large repertoire of ethnic ingredients and recipes. Studio67 expects that the majority will purchase from the chef’s suggestions. Customers will have the opportunity to choose from a variety of ethnic recipes. Mario will be emphasizing healthy dishes as he recognizes the growing demand for healthier cuisine in the restaurant industry.
Customers
Studio67 believes that the market can be segmented into four distinct groups that it aims to target. The first group consists of the 400,000 lonely rich. The second group to be targeted is the young happy customers. They are growing at an 8% annual rate with 150,000 customers. Third, rich hippies are those who prefer organic food to traditional cuisine. The third and final group, 350,000 people in Portland are dieting women.
Management
Studio67 has put together a strong management staff. Andrew Flounderson will be the general manager. Andrew has extensive experience in the management of companies with between six and 45 employees. Jane Flap will oversee all accounting and finance functions. Jane is a seven-year veteran as an Arthur Andersen CPA. Jane’s financial skills and management will be invaluable in keeping Studio67 afloat and profitable. Studio67 also has Marion Langostino, who will be in charge of the back-end production. Mario, a well-respected and published chef with more than 12 years experience, is a fixture in the Portland area.
Studio67’s financial success will be the most important thing. Studio67 will also offer high-quality, fresh, and non-greasy food, with innovative twists. Studio67 does plan to raise menu rates as the restaurant gets more and more crowded, and to make sure that they are charging a premium for the feeling of being in the “in crowd.”
Studio67’s market and financial analysis show that it can generate more than $365,000 in sales in year one and $565,000 in sales in year two. It will also produce net profits exceeding 7.5% in year three. Year two will bring about profitability.
Objectives
- Sales of $350K the first year, more than half a million the second.
- Personal costs for employees are lower than $300K the initial year and lower than $400K the next year.
- Profitable in year 2, better than 7.5% on sales by year 3.
Mission
Studio67 is a great place for a meal. They offer a fun atmosphere, delicious food, and an interesting environment. We are looking for fair profits for the owners and rewarding work environments for our employees.