Zara Restaurant and Lounge: Business Plan Evaluation Essay
General overview, major components of the plan, conclusions based on critique, value of this business plan critique.
Business plans are essential for business startups. A well-designed plan describes the strategies the owners will employ to achieve efficiency and cost-effectiveness in the business venture. For a restaurant, a business plan discloses the firm’s history, marketing strategies, leadership structure, financial performance, market niche, and risk management strategies. Zara Restaurant & Lounge, a business venture located in Midtown Atlanta, provides “a tapas lounge, a cosmopolitan bar, and a full service dining” under one establishment ( Bplans, 2010, Para. 4).
It offers a broad range of ethnic foods and entertainment that appeal to both young and elderly clients. This paper evaluates Zara’s business plan, including its financial plan, management team, and marketing strategies in order to determine the restaurant’s internal strengths and potential to attract investors.
A good business plan for a new restaurant describes how the owner(s) intends to run the business. It details the firm’s key features, including its services/products, target market, financial position, and industry. The major components of Zara’s business plan include “executive summary, company summary, services, market analysis summary, strategy and implementation summary, management summary and financial plan” ( Bplans, 2010).
The executive summary of Zara’s business plan is well organized. It describes the restaurant’s mission, keys to success, and objectives. Zara’s mission statements, immediate goals, and competitive strategies are written in a formal and detailed manner that can appeal to investors. Moreover, this section describes in detail Zara’s products, which include “eclectic menu featuring regional specialties, Spanish ceviche, Thai and Indian curries, and local crab cakes” ( Bplans, 2010, Para. 6).
It also describes Zara’s financial highlights, and competitive strategies. Among the major strengths of this plan is its description of the current and future sales and profitability estimates. The details will help potential investors to know the scheduled time for dividends. The section also includes cost estimates of labor, revenue, and projected sales. However, Zara’s executive summary does not catalogue the characteristics of its target market and the identities of the management (start-up) team.
Ideally, the ‘company summary’ section should describe the firm and the management team. In this section, Zara’s business plan gives the company background, ownership, restaurant location and design, operating criteria, and start-up capital. The inclusion of the summary of Zara’s start-up capital lends credence to this business plan. In the ownership section, the plan depicts Zara’s founders (Zander Hunte and Peter Smith) as qualified individuals with vast experience in the restaurant industry. The section also includes diagrams (start-up chart and table), which allow potential investors to visualize Zara’s start-up capital that currently stands at $690,119 ( Bplans, 2010).
The next section of Zara’s business plan is the “services” section. It details Zara’s services, including menus (Spanish, Thai, and Chinese cuisines), tapas, salads, appetizers, and desserts. The descriptions help customers to understand Zara’s product/service offerings and play a role in brand development.
The marketing section of Zara’s business plan provides an analysis of the market, competition, and market entry strategies, which are grounded on detailed industry analysis. It helps readers to know Zara’s target customers and competitors as well as the strategies the restaurant will use to grow its market share. However, the demographics of the target market, such as gender, age, and income, are conspicuously missing in the plan. Customer demographics are useful in market segmentation.
The other key element in Zara’s business plan is the ‘strategy and the implementation’ section. It outlines the strategies (sales and marketing) that Zara will use to gain a competitive advantage in the restaurant industry. It analyzes Zara’s direct and indirect competitors (the Cheesecake factory, the Kitchen, and Lunaci, among others) in the industry.
This information will help Zara’s management to identify the restaurant’s competitive strengths and weaknesses and devise a long-term marketing plan for maintaining a competitive advantage. Zara’s strategic plan has two major weaknesses; first, it does not elaborate on the restaurant’s distribution channels or strategies, and second, it does not say whether Zara will use patents to prevent competitors from offering similar products/services.
The ‘management’ section outlines the identities and expertise of the management team. It describes the key personnel that will drive the business forward. It is clear that Zara has a highly competent management team. This section also outlines Zara’s personnel needs, tasks and responsibilities, and remunerations for each position. However, the plan does not mention the related service providers or the company directors, who may have a lot of influence in the decision-making process.
The financial section covers the investors’ payback plan, projected business growth (sales and revenue), cost-control strategies, and break-even analysis, among others. Zara’s five-year financial forecast, which includes income statements, assumptions, and balance sheets, will help investors estimate the expected returns from the investment. Moreover, the major milestones included in Zara’s financial plan will help investors know the restaurant’s past performance.
Overall, Zara’s current financial position looks good. Based on its profit and loss account, and projected cash flow, Zara is financially secure. The restaurant has, at its disposal, a sum of $130,000 and $110,000 in grants and owner investment respectively ( Bplans, 2010). This amount alone can run Zara for approximately one and half years. Zara seeks an additional $200,000 and $300,000 in investments and loans respectively, for “renovations, working capital, legal fees, marketing, and personnel” ( Bplans, 2010, Para. 11). The plan predicts that Zara will break-even within the first 10 months, which implies that potential investors will receive dividends from their investment within a short duration. Moreover, the firm’s financial projections (sales and revenues) are based on in-depth industry analyses, which enhance the credibility of Zara’s financial positioning.
Zara’s management team has a “combined experience of 48 years in food, finance, restaurant and hotel, marketing, and business management” ( Bplans, 2010, Para. 14). Given their expertise, the writer believes that Zara’s management team will help the restaurant gain a sustainable competitive edge in the industry. The highly qualified leaders bring into the company a rich skills mix, which will help the restaurant do well in the hotel industry. The top managers (Peter Smith and Alex Hunte) have good credentials and vast experience in their respective area of expertise. Their broad experience and diverse management styles will help the restaurant grow and increase its revenue.
Zara’s business plan outlines the restaurant’s major strengths in the industry, financial position, target market, resources (management and marketing), and competition. Thus, this document will promote internal understanding by making the various aspects of Zara’s mission clear to the employees and the management. The plan focuses on Zara’s present and future position in a highly competitive industry.
Based on the analysis of Zara’s competition and strengths and weaknesses, strategies for achieving a competitive advantage are given. Thus, besides helping to build investor (external) confidence, this document will enable Zara enhance its management processes. For instance, the analysis reveals that Zara needs a start-up capital of $740,000 with a total sales forecast of $371,416 within the first year. These figures are important in managerial decision-making. The document can also be used to benchmark Zara’s performance in the restaurant industry.
The business plan is necessary when seeking external (investor funding). In the writer’s view, the detailed analyses provided in the plan will enhance external legitimacy, which will translate into improved investor confidence in the business venture. The plan is a professionally presented document with details of Zara’s goals, operations, and resources. Furthermore, the restaurant has a solid financial base (130,000 and $110,000 in grants and owner’s investments) and an experienced management team, which will inspire investor confidence.
Its location (Midtown Atlanta) and elaborate marketing strategies, which are based on market and competition analyses, will enable the restaurant to make a successful entry into this market. Moreover, according to the business plan, the investment is expected to break-even within the first ten months. Thus, potential investors and partners may want to invest in Zara because it is less prone to risk and promises good returns within a short time.
The critique of Zara’s model helped the writer to understand the process of developing and presenting a good business plan. In particular, the review provided important insights into the layout and the key elements of a persuasive business plan. A good plan should promote internal understanding and business planning (present and future). It should also inspire external legitimacy in order to attract investors and business partners.
Bplans. Ethnic Food Restaurant Business Plan: Zara Restaurant and Lounge . (2010). Web.
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Bibliography
IvyPanda . "Zara Restaurant and Lounge: Business Plan Evaluation." August 30, 2021. https://ivypanda.com/essays/zara-restaurant-and-lounge-business-plan-evaluation/.
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Ethnic Food Restaurant Business Plan
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Zara Restaurant and Lounge
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.
Atlanta consumers are seeking variety and new experiences. Location is clearly important, but so is atmosphere and distinctiveness. Our marketing challenge is thus to stand out from our competitors, not only as the "new" restaurant, but as one that offers consistently high quality food, menu variety, and a unique atmosphere.
Our concept combines variety, ambiance, entertainment and a superior staff to create a sense of ‘place’ in order to reach our goal of overall value in the dining/entertainment experience. We offer fair profits for the owners and investors, and a rewarding place to work for the employees.
Instead of building a business around a preconceived concept, we conducted market research and built a concept around our consumers. Our market analysis identified the following key drivers as areas of opportunity to service Atlanta’s restaurant customers:
- Portion Selection: Nearly 95% of our surveyed focus group endorsed having a choice of different size portions. This statistic is in line with findings reported by the Tableservice Operator Survey. Zara’s Tapas concept is built to offer different-sized portions. Our customers want the option to choose what satisfies their appetite.
- Menu Variety: Ethnic restaurants are increasing in Atlanta. The proliferation of international cookbooks, food magazines, TV cooking shows and imported goods offers ample evidence that America, as a whole, is currently on an international tasting spree. In fact, eating places that identify themselves as ethnic establishments numbered nearly 78,000 in 1999 and recorded sales of $30.5 billion. Our research results do not identify any single ethnic style of restaurant as desired, but rather suggest that incorporating strong multi-ethnic influences in the menu selection will be popular. Again, variety is the underlying element for this concept.
- The Dining Experience: Customer satisfaction with food and service has been and continues to be of utmost importance, but our findings indicate that the décor, lighting, bar, and other options to improve the dining experience are also factors in customer decisions. Zara takes all these factors in consideration for the design of this cosmopolitan restaurant.
- Reasonable Prices: This was no surprise given the economic tide. Although the restaurant industry as a whole has seen growth in 2002/2003, customers are demanding value for their dining dollar. Zara’s menu is priced at a mid-tier level, with no entrée over $20. In addition we have an extended Tapas and Appetizer selection priced between $3.50 – $9.50, allowing budget dining in a full-service restaurant.
Competition
The top ten Atlanta restaurants shared two things: cozy, hip interiors and reasonably priced, regionally specialized menus. Only one of them offered traditional "southern" cooking. And half of them were located in Midtown. Our competitors are heading in the right direction, but only Zara is based on sound market research in the local market.
Zara will be an inspiring restaurant, combining an eclectic atmosphere with excellent and interesting food. The mission is to have not only a great food selection, but also efficient and superior service – customer satisfaction is our paramount objective. Zara will be the restaurant of choice for a mature and adult crowd, couples and singles, young and old, male or female.
Expectations
We have taken the necessary precautions to ensure the business is fully capitalized, and have addressed all financial shortfalls to ensure a successful business start-up. Under a realistic scenario, the company should have over $84,000 in cash balance the third year. Even with the worst-case sales scenario, we reach a Net Worth break even at the end of Year 5. On a linear projection, the entire financial debt will be retired by Year 7.
Financial Highlights by Year
Financing needed.
We estimate total startup costs at $665,000, including $430,000 in pre-launch expenses and $235,000 in pre-launch assets. We itemize the expenses in detail in the financial section of this plan, and the assets in the table here.
Funding, as shown below, includes $110,000 owner investment, $200,000 in partner investment, plus a Midtown Redevelopment Grant for $130,000, Accounts Payable of $30,000, and a business loan of $195,000.
The capital begins with the owners. Mr. Alex Hunte and Mr. Peter Smith are investing $110,000 in personal capital. Private Investors, who will be part owners with a non-managerial interest in the business, will contribute another $200,000. And As owners, our commitment is to take personal accountability for all financial debt.
This Plan is being submitted in order to secure a Business loan for $195,000. The loan will be used towards Equipment purchase, Design, Construction, and Operational Start-Up expenses.
We have taken the necessary precautions to ensure the business is fully capitalized, and have addressed all financial shortfalls to ensure a successful business start-up. Under a realistic scenario, the company should have over $84,000 in cash balance the third year. Even with the worst-case sales scenario, we reach a Net Worth break even at the end of Year 5. On a linear projection, the entire financial debt will be retired by Year 7.
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Problem & solution, problem worth solving.
Where do you go in Atlanta that caters to the young but mature adult crowd? Where do you have a client or business partnership meeting when presentation is everything? Atlanta is filling with refined trendy fashion forward technology workers who need somewhere to go. They want to a trendy place sit and have a drink and relax with like minded people. Get a really good meal with people who appreciate good food. Businesses need somewhere to make a reservation when their success is dependent on showing the client they know how to give them the treatment they deserve. A lot of clients equate that with respect. Its the difference between landing a account and having them go with someone else.
Our Solution
Target market, market size & segments.
Market Segmentation
Zara’s Restaurant & Lounge intends to cater to a wide customer base. We want everyone to feel welcome and entertained. We have defined the following groups as targeted segments that contribute to our growth projections:
- The Business Person
- Downtown Atlanta Couples
- The Destination Customer
- High-End Singles
These particular market segments are 25-45 years old, have disposable income, and are seeking upscale, trendy, and comfortable restaurant options. These are the types of people who frequent other restaurants and bars in the area. They are likely to spend more on experiences they perceive as unique, cosmopolitan, and sophisticated. They are also the most open to trying something new, foodwise, and will embrace our international fusion cuisine.
Target Market Segment Strategy
The Business Person: They work hard all day and often stay overnight in a strange city. They need a competent establishment that helps impress clients and prospects. Afterward, they want to relax and use the money they are making (or is expensed by their company). They spend the most on drinks, food and tips. Zara’s cosmopolitan flair and comfortable atmosphere will be perfect for sophisticated business people, whether they live in and around Atlanta or are here for work.
Downtown Atlanta Couples: The restaurant will have an intimate, romantic, enticing adult atmosphere that suggests "date." Zara’s will be the best date location in town. These young Midtown couples are generally very successful working professionals. In most cases they are budgeting to eat out on a regular basis, as they don’t have the time to prepare food nightly.
The Destination Customer: Atlanta is a very ‘sectioned’ city, and consumers often look only in their own neighborhoods for restaurant options. Zara will break these habits, using marketing to draw customers from outside the main city limits. Zara will be a destination restaurant. Our Destination Clients tend to be new suburbanites that miss the excitement of the inner city. They have disposable income, and will spend quite a bit on such outings. Zara’s will be especially appealing to married suburban couples indulging themselves with a "date night" downtown, away from the kids. Many of these consumers are new to Atlanta from larger cities, accustomed to dining within the city and at non-franchised restaurants.
High-end Singles: We will attract them with our eclectic atmosphere and layout. Our international menu, striking decor, entertainment and events, excellent service and engaging clientele will confirm the feeling of being in "the in place" in Atlanta. These are the individuals that pride themselves on socializing and dining at the premier locations – The Image Seekers.
Tourists: Atlanta attracts many vacationers during the summer months of May through September. Zara’s will be a destination dining locale, with its attractive atmosphere, international menu, and lounge. A large percentage of the tourist population are vacationing singles, here to socialize and be entertained. This is especially true for the tourist population that visit for sporting and social events – they are not interested in family establishments.
Current Alternatives
Competitor Analysis
Below are excerpts from our competitive analysis study.
1. The Kitchen (Direct Competitor):
We were able to draw some conclusions from this analysis that helped defined the concept and positioning for Zara: 1) Keep the menu pricing modest but offer superior food quality and presentation. We plan to keep the menu prices under $20; 2) Midtown is a prime restaurant location. One Midtown Kitchen is in an obscure location but has thrived as one of the more successful restaurants in the area; and 3) The customer base in this segment of Atlanta is ready for after-hours dining, and is willing to travel to establishments that accommodate their needs.
2. Lunaci (Direct Competitor):
This restaurant is a main competitor for Zara, a casual dining restaurant that has evolved to be a great success story for the Midtown district. This restaurant served to validate 1) the tapas concept appeal for Midtown customers; 2) the evolving need for after-hours dining; 3) tapas as a good food concept for after-hours dining (smaller portions, smaller price); 4) the appeal of live Entertainment.
3. Cumulus (Indirect Competitor)
This restaurant has grown in popularity over the years, and has gained popularity as a destination restaurant that can cater to business professionals as well as the local residents. The menu is somewhat formal for this market segment, but the bar attracts a good crowd. During this study it was evident that some patrons came exclusively to sit at the bar, without any intent of dining in the restaurant. Cumulus is more of a formal dining restaurant and meets a certain need within the community, but I don’t see it as a direct competitor of Zara. I do feel that it has some very special elements that have helped it succeed over the past 3 years, which Zara can benefit from.
4. Cheesecake Factory (#1 Restaurant Comparison):
Although Cheesecake Factory is outside of Zara’s restaurant district and not considered a direct competitor, it was beneficial to analyze the most profitable restaurant in Atlanta to understand what contributes to their success. Cheesecake Factor offers several key elements that would also benefit Zara: 1) Customer Satisfaction through moderate pricing and high-quality food; 2) Location selection to benefit from core customer demographics, situated in a busy/popular area for both business and residential traffic; 3) Exceptional Service, from the Valet, to Hosting, to Wait, Bus, and Bar staff; and 4) Menu Variety, offering a broad array of menu items.
5. Swing Restaurant (Indirect Competitor):
This restaurant is not in our market district and therefore not a direct competitor, although we do consider it an ‘indirect’ competitor. Swing incorporates some of the characteristics that we have mapped out for Zara. Those elements are: 1) A Tapas and Entrée menu – realizing that customers want varied meal size and variety; 2) A club type atmosphere to entice the single scene and to drive bar sales. Swing validates some of the elements uncovered in our market research as to what the new Atlanta diners are looking for. This serves as a true validation that the timing is right for the Zara Restaurant & Lounge concept.
Failed Restaurant Analysis : Mumbo Jumbo Mumbo Jumbo was an Atlanta restaurant attraction in the downtown core, a strong competitor that was severely impacted by the patronage demise after 9/11. I also completed an analysis of this restaurant back in 1999 and compared it to this current analysis in 2003. Several factors led to closing of this restaurant:
Location: This was a very cosmopolitan restaurant located in a core business community. The restaurant was hidden in cross streets and away from the general street traffic. This was a destination restaurant and a secondary selection for the general customer base in this area.
Lesson Learned: As part of this analysis, we have determined that the downtown core is not a good fit for the Zara concept. We will limit our site selection to the core Midtown district and the upper Downtown district. Midtown is Atlanta’s major growth district and is developing the residential infrastructure in pace with the business infrastructure.
Customer Segment: Atlanta’s downtown core is not ready for this type of restaurant. Atlanta’s downtown core is a business district, and residential development for this area is at the Genesis state. The primary customer base is the business person and tourist. The largest percentage of this customer segment will be looking for a restaurant in which to conduct business or a family establishment; Mumbo Jumbo would not be a primary selection in either case.
Lesson Learned: Zara’s target market demographics are perfectly in alignment with the Midtown profile. Midtown has a business core as well as a residential core. We will look to the business core for our primary daytime business, but to our residential core for our dinner and after-hours patronage. In addition, the business core will look to Zara as a place of socialization for dinner and after-hours unwinding. Mumbo Jumbo depended on the business segment for their lunch and dinner profits, and customers who would travel from outside the downtown district to eat at the restaurant – there was no static dinner segment.
Visibility: Hand-in-hand with location, this restaurant also suffered from poor visibility. In the downtown core a large percentage of business is from walk-in traffic. The business and tourist customers tend to select a restaurant from touring the area and accessibility. Mumbo Jumbo was situated on a cross street behind the main street.
Lesson Learned: Although being situated on a main street is not as key in the Midtown district, we will ensure that visibility is part of our site selection criteria. In addition, we will use signage and exterior décor as means to attract customers and get noticed.
In all, this restaurant was a staple in Atlanta’s downtown core for over 10 years, but key restaurant disciplines (Location, Customer Segment, Visibility) came back to hurt them as the economic climate changed.
Our Advantages
Besides the lessons learned listed above, Zara’s competitive edges are:
- The owners’ thorough understandings of opening and running a restaurant
- An extraordinary contemporary restaurant design
- International menu with featured menu changes every 4 months
- Unique, 3-Tiered spatial layout
- Chef Co-op program to allow new entrants, trainee and featured chef
- Chef/Management Stock Incentive Program.
- Inner and Outer City Marketing campaign (i.e. "Come to Town" promotions)
- Employee Training, Incentive and Retention program
Keys to Success
Our keys to success are:
- Unique, Innovative & Contemporary: The creation of a unique and innovative fine dining atmosphere will differentiate us from the competition. The restaurant will stand out from the other restaurants in the area because of the unique design and decor. We will offer a fine dining experience in an electric atmosphere.
- Product quality: great food, great service and atmosphere.
- ‘Spice of Life’ Menu: The menu will appeal to a wide and varied clientele. Our eclectic menu features regional specialties around the globe, from Spanish ceviche, to Thai and Indian curries, to local crabcakes.
- Employee Retention Focus: Employee retention and development programs will be a primary focus and success platform for this business. Through these programs, we will be able to draw seasoned and elite professionals and build a committed work force. We have budgeted for a stock option program for Chef and Management positions to subsidize a lower salary base. This lowers our immediate overhead and attracts quality staff.
- Cost Control Focus: We will control costs at all times, without exception. Cost Control will be an integrated function of the restaurant from the onset. Cost control is about managing the numbers – interpreting and comparing the numbers that impact the bottom line. 80 percent of the success of a restaurant is determined before it opens. Our focus is to reduce the cost of goods sold to meet our profit margin goals by managing the following crucial elements of cost: Purchasing, Receiving, Storage, Issuing Inventory, Rough Preparation, Service Preparation, Portioning, Order Taking, Cash Receipts, Bank Deposits and Accounts Payable. We will use of this restaurant/ethnic food business plan to track actual costs against our forecasts in managing the business.
Due to intense competition, restauranteurs must look for ways to differentiate their business to achieve and maintain a competitive advantage. Midtown/Downtown Atlanta’s redevelopment requires a place that will fit into the ‘new look’ of the community, one that is contemporary and entertaining. Zara will fill that niche.
Marketing & Sales
Marketing plan.
Zara Restaurant & Lounge’s Marketing strategy will be to promote our electric food, superior service, and exciting concepts to draw in the local repeat customers. Marketing initiatives will concentrate on the following:
Building and Signage: The most important Marketing tool that we have is the exterior of our building, our new sign and our website. We budgeted a great deal into the renovations and decor to generate the aesthetic appeal of Zara.
Customer Service: In our years within the restaurant industry, customer service has always been the major draw for the dining clientele. Food and atmosphere is far out-shadowed by superior customer service that turns a new customer into a repeat customer.
Management will demand the wait-staff provide the very best in quality services to the customer, making certain that they are content and satisfied with their dining experience. Wait-staff are thoroughly trained, and every 90 days they undergo a performance appraisal. This is part of our Employee Manual, and Operations Manual guide.
Advertising and Promotion: Our Advertising and Social Media plan call for targeting customers directly through local publications aimed at , respectively, singles, couples, and destination customers.
Management recognizes the key to success at this time of initial opening is extensive media promotion. This must be done aggressively in order to accomplish our service goals. A healthy budget is allocated for the first year. A primary part of the budget is allocated to create the media and customer buzz for the month prior to opening and the next three months after the grand opening. The full Marketing program is as follows:.
Media Objectives and Strategy: Establish our image as a unique Midtown restaurant with great service, value, and great food served in an eclectic atmosphere. We will maximize efficiency in the selection and scheduling of advertisements by:
- Reaching out to select businesses in the area to build relationships. We will promote their services and they promote ours.
- Scheduling adequate frequency of Facebook ads to impact market with menu items and promotions.
- Where possible, linking and sharing with non competing sites in or near entertainment/food related editorials.
- Redirecting customers to our website to register for upcoming functions, VIP lists, reservations, and flash media promotions.
- Maximizing google ad words with well timed expensive buys.
Working with The Reynolds Group Media Co. (Zara Advisory Board), we will develop an advertising campaign built around our Zara Diner theme, menu offering, location, and decor. We will support this plan with ads that reinforce the Zara dining concept.
Additionally, we will develop a consistent reach and frequency throughout the year, targeting each specific customer segment within a five-mile radius, and new ‘suburbanites,’ who still appreciate in-town dining.
Promotional Campaign: The best way to reach our potential customers is to develop an intense advertising campaign promoting our Zara concept of " Spice of Life. " In addition to standard advertising practices, we will gain considerable recognition through newspapers, Facebook, Twitter, Instagram, public announcements, paid website promotions/ blogs about our services. Consumers will be encouraged to visit our website to be greeted with a flash media intro that highlights the restaurant, past happenings, upcoming attractions and our dynamic menu.
Our periodic customer surveys and weekly menu item sales evaluations will help us to understand what advertising is working and what is not; basically, who we are reaching. Our goal is to understand our customer, measure the success of our direct marketing and media activities, and redirect advertising as effectively as possible.
Our strategy is simple: we intend to succeed by giving our customers a combination of delicious and interesting food in an appealing environment, with excellent customer service, whether on their first visit or their hundredth.
Our marketing strategies are designed to get critics and initial customers into our doors. Our sales strategies must take the next step and encourage customers to become repeat customers, and to tell all their friends and acquaintances about the great experiences they just had at Zara.
New restaurants often make one of two mistakes: they are unprepared or underprepared for opening, and initial poor service, speed, or quality discourages customers from returning, or they spend all of their efforts at opening, and are unable to maintain the initial quality customers expect on return visits, decreasing word of mouth advertising and leading to poor revenues.
Zara’s sales strategy requires consistently high quality food, service, speed, and atmosphere. We can accomplish this by:
- Hiring employees who genuinely enjoy their jobs and appreciate Zara’s unique offerings
- Continually assessing the quality of all aspects mentioned above, and immediately addressing any problems
- Interacting with our customers personally, so they know that their feedback goes directly to the owners
- Evaluating food choices for popularity, and keeping favorites on the menu as we rotate seasonal foods and specials
Locations & Facilities
Location & Operations
Restaurant Location Midtown Atlanta is the location selected for the Zara concept. The outlook for the future of Atlanta’s Midtown district is exceptionally positive and the most progressive development area in the city. Developers are infusing over $50 billion in Commercial, Residential, and Retail development. Zara’s will benefit from Atlanta’s desire to revamp the Midtown district with a $130,000 renovation grant for restoring and renovating the 100 year old property we plan to lease.
The market has been carefully selected and tested for the necessary demographics and retail traffic necessary to meet the goals laid down for profitability. The busy Midtown commercial/residential location has been chosen based upon a successful demographic model and a traffic count of more than 33,000 cars daily.
Restaurant Design Single-Level Design Concept: The total space requirement is 3,000 square feet. The restaurant will feature a comfortable and open concept design. The central dining area will allocate 76 seats, the lounge 22 seats, and the dining bar with 12 seats. In total, the restaurant will provide seating for 110 patrons. Where possible, consideration will be given to incorporate a dining patio. Zoning, parking, and accessibility issues will be reviewed as part of this analysis.
Optional Patio: During the busy summer months customers can also sit outside on our patio and we will offer a special summer menu, featuring lighter fare, exotic drinks, as well as non-alcoholic offerings. The patio setting will be a fun and casual atmosphere for the summer crowd.
Operating Criteria The restaurant will be located in Midtown Atlanta. The restaurant will service lunch, dinner, and after-hours dining during the week and weekends. The restaurant will operate during peak service time to take advantage of street traffic, and after-hour patronage from the entertainment facilities in the area. Service will be available during the following hours:
Lunch: Monday to Saturday, 11 a.m. – 2:30 p.m.
Dinner: Monday to Saturday, 5:30 p.m. – 12 midnight
Sundays – Market brunch takeout only.
Milestones & Metrics
Milestones table, key metrics.
Our Metrics are
- # of customers who come to drink
- # of customers favorite food
- cost of making the most popular dishes vs price
- # customers who tweet or retweet about our restaurant
- # of returning or frequent flyer customers
- # of Facebook pageviews and links and website shares
Ownership & Structure
The restaurant will start out as an LLC corporation, owned by its founders, Zander Hunte and Peter Smith. Mr. Smith will function as the General Manager and Executive Chef, and Mr. Hunte as Managing Partner.
Mr. Hunte and Mr. Smith have a long-standing professional relationship in the restaurant industry, stemming back to Toronto, Canada. Mr. Smith is an accomplished restauranteur, having owned several full-service restaurants. He currently owns Brassaii Restaurant (www.brassaii.com), and Bauhaus Bar and Nightclub. Mr. Smith is also an international Restaurant Consultant for top organizations such as the Starwood Group, who own the hotel chains of The Westin, Sheraton Hotels, Four Points, St. Regis, and W Hotels.
Mr. Hunte has a background in International Business Management, and is certified in Restaurant and Hotel Management. Under the management of Zander Hunte, Myth Restaurant was a feature restaurant in Toronto, and distinguished as a top 10 restaurant while under his management.
Management Team
Ownership & Management
Together, Alex Hunte and Peter Smith bring over 20 years of experience in the restaurant industry to their new joint venture.
Alex Hunte: Managing Partner (Operations, Marketing, Financial and Business Development)
Mr. Hunte brings to Zara an accomplished restaurant background, exceptional business acumen, and a lifetime passion for the restaurant experience. Alex has over 17 years of business management in the Information Technology industry. Like IT, successful ventures in the restaurant industry must balance capitalizing on new trends with continual quality assessment. Alex’s understanding of day-to-day cash flow planning and staff management will be critical to Zara’s financial success.
Mr. Hunte has a background in International Business Management and Business Start-ups, and is certified in Restaurant and Hotel Management. As co-owner, Alex Hunte is responsible for overall direction and operational management. Mr. Hunte is a strong business leader responsible for strategic planning and continued growth of restaurant services and business development. In addition, Alex will be the management lead for all public relations, financial and investor services.
Degrees, Certifications, and Professional Affiliations:
- MBA in International Business Management
- B.S. in Computer Science
- Certified in Restaurant & Hotel Management from Ryerson University
- PMP (Project Management Professional) certification
- Member of the Midtown Alliance
- Business partner member of the National Restaurant Association.
Peter Smith: Managing Partner (Executive Chef and Restaurant Operations)
Mr. Smith is an accomplished restaurateur, having owned several full-service restaurants. Mr. Smith is responsible for the concept and the daily operations management, with yearly sales targets of $7 million.
In addition, Peter is the owner of Bauhaus Bar and Nightclub, and former owner of Myth Restaurant, Ouzeri, and Kapilyo Restaurant, all financial and critical successes. Mr. Smith is also an international restaurant consultant for top international organizations. Mr. Smith’s Contracting responsibilities for Zara included logistics, Site and Lease Negotiations, Concept Definition, Start-Up and Financial forecast, Menu and Operations Management, as well as Implementation and Launch Management.
With a degree in Economics and an accomplished career, Mr. Smith contributes the experience of his past successes, and is charged with leading the Restaurant Operations, Staff Selection, Menu Definition and Training initiatives for Zara Restaurant & Lounge.
Managing Partner Responsibilities
In addition to the management of day to day operations, both managers, as principals within the company, will oversee menu development, purchasing, portioning, pricing and inventory control, including approval of all financial obligations of the company. They will plan, develop, and establish customer service policies and objectives, and write, explain, and enforce an employee’s manual for all employee-related policies.
Responsibilities for hiring and firing employees lie solely with the two operations managers, and any decisions in these areas will be made jointly.
- Manage working capital, including receivables, inventory, cash and marketable securities.
- Perform financial forecasting, including capital budgeting, cash flow analysis, pro forma financial statements, and external financing requirements.
- Prepare financial analyses of operations for guiding management, including reports which outline the company’s income, expenses, and earnings.
- Direct preparation of budgets and financial forecasts and arrange for audits of company’s accounts.
Personnel Table
Zara’s Advisory Board
- Stephen Hollier of Hollier Collier & Loewenthal: Corporate Attorney
- John Katz of SS&G Financial Services: CPA
- Robert Shaefer of Shafer Hospitality Services: Restaurant Consultant
- Mary Zimmerman of The Zimmerman Group: Media & Public Relations consultant
Financial Plan investor-ready personnel plan .">
Key assumptions.
Important Assumptions
The financial plan depends on important assumptions, most of which are reflected in the financial statements that follow. We have been cautious with our projections, and incorporate a mitigation for all manageable risks. The key underlying assumptions are:
Slow Economic Recovery. We anticipate a slow-growth economy, recovering from an economic recession.
Business Growth
Annual Growth Rate Percentage. We anticipate modest growth over the coming years. The financials account for the following growth projections:
Weekly Sales Variance. Saturday will typically be our best sales for the week. The sales volume for all other days is represented as a percentage relative to Saturday. Therefore our weekly sales will vary as follows:
- Monday: 55%
- Tuesday: 60%
- Wednesday: 75%
- Thursday: 95%
- Friday: 90%
- Saturday: 100%
Seasonal Sales Variance. In Atlanta, October through the late season is the most productive sales period, while the summer months tend to be the slowest restaurant period. This trend is reflected in the financials though a seasonal variance as follows (where October is targeted to be our most successful sales month ):
- January: 85%
- February: 95%
- August: 80%
- September: 85%
- October: 100%
- November: 95%
- December: 95%
Industry & Start-Up
Fiscal Year-1 Ramp-up. Our experience in the industry confirms a longer ramp-up stage for restaurants over other retail/service businesses. Our Annual Sales Growth is based on attaining the following seating capacity percentage per dining period:
- Year 1: After-Hours = 53%, Lunch = 70%, Dinner = 88%
- Year 2: After-Hours = 70%, Lunch = 82%, Dinner = 100% (implied wait period)
- Year 3: After-Hours = 80%, Lunch = 87%, Dinner = 100% (implied wait period)
Six-Month Start-Up Stage. As a new restaurant entry to the Midtown market, the ramp-up in customer draw is expected to extend over 6 months. This is reflected in a higher than average monthly sales variance shown as follows (Worst-case / Expected-case):
- Month 1: 32% / 51%
- Month 2: 41% / 58%
- Month 3: 52% / 66%
- Month 4: 64% / 75%
- Month 5: 80% / 90%
- Month 6: 90% / 92%
Market Analysis findings are static. We assume that there are no unforeseen changes in findings outlined in the Market Analysis.
Pricing & Cost Control
Competitive Pricing Model. Revenue calculations are based upon competitive price comparisons and established menu values in the current marketplace. The following are baseline assumptions on Average Check Totals, and Average Seat Turns:
Daily average for lunch spending is $10.50 per person, dinner at $27.50 per person; and $17.50 per person for After-Hours dining (All check totals include Beverages, but not Bar). Seat Turn averages are modestly estimated at:
- Year 1: After-Hours = 0.7, Lunch = 1.0, Dinner = 1.0
- Year 2: After-Hours = 0.7, Lunch = 1.0, Dinner = 1.0
- Year 3: After-Hours = 1.0, Lunch = 1.0, Dinner = 1.25
Cost Control. Cost of goods sold have been calculated as a percentage of sales and will be monitored on a daily basis in order to keep Cost of Food within the range of 31 – 33%, Bar Costs within 28 – 31%, and Cost of Beverages (Non Alcohol) below 9%. With a focus on Cost Control, we anticipate 6 months to fine tune the restaurant operations and manage our costs within the defined tolerance range.
Inventory turnover and Accounts Payable. Accounts receivable turnover is calculated to be 0 days, as payment is rendered with service. Inventory is turned on a 7 day cycle as inventory is used daily within all categories, and accounts payable are projected to be 30 days.
Revenue by Month
Expenses by month, net profit (or loss) by year, use of funds.
Itemized pre-launch expenses:
Complete startup costs and funding plan:
Implications on financials and starting balance:
We show the grant funding on the capitalization table for convenience only. It is non-dilutive funding, so it doesn’t require distributing shares in the corporation.
Sources of Funds
We will be getting the money to start Zara from the Following Sources:
Zander Hunte – $60,0000
Peter Smith – $50,000
5 investors (yet to be determined) – $200,000
Midtown Revitalization Grant – $130,000
Long term Loan – $195,000
Accounts Payable – $30,000
Totaling $665,000
Note: the Midtown Revitalization Grant is entered on our financials as equity investment. However, it is non dilutive, so it won’t require shares of ownership.
Also: The $195,000 long-term business loan shows in our starting balance as $35,396 current debt and $159,604 of long-term. This is due to the standard treatment dividing long term debt into the current portion and the long-term portion.
Projected Profit & Loss
Projected balance sheet, projected cash flow statement.
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How Zara’s strategy made her the queen of fast fashion
Table of contents, here’s what you’ll learn from zara's strategy study:.
- How to come up with disruptive ideas for your industry.
- How finding the right people is more important than developing the best strategy.
- How best to address the sustainability question.
Zara is a privately held multinational clothing retail chain with a focus on fast fashion. It was founded by Amancio Ortega in 1975 and it’s the largest company of the Inditex group.
Amancio Ortega was Inditex’s Chairman until 2011 and Zara’s CEO until 2005. The current CEO of Zara is Óscar García Maceiras and Marta Ortega Pérez, daughter of the founder, is the current Chairwoman of Inditex.
Zara's market share and key statistics:
- Brand value of $25,4 billion in 2022
- Net sales of $19,6 billion in 2021
- 1,939 stores worldwide in 2021
- Over 4 billion annual visits to its website
- Inditex employee count of 165,042 in 2021
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Humble beginnings: How did Zara start?
Most people date Zara’s birth to 1975, when Amancio Ortega and Rosalia Mera, his then-wife, opened the first shop. But, it’s impossible to study the company’s first steps, its initial competitive advantage, and strategic approach by starting at that point in time.
When the first Zara shop opened, Amancio Ortega already had 22 years of industry experience, ten years as a clever and hard-working employee, and 12 years as a business owner. Rosalia Mera also had 20 years of industry experience.
As an employee , Ortega worked in the clothing industry, first as a gofer and then as a delivery boy. He quickly demonstrated great talent for recognizing fabrics, understanding and serving customers, and making sound business suggestions. Soon, he decided to use his insights to develop his own business instead of his boss’s.
As a business owner , he started GOA Confecciones in 1963, along with his siblings, his wife, and a close friend. They started with a humble workshop making women’s quilted dressing gowns, following a trend at the time Amancio had noticed. Within ten years, that workshop had grown to support a workforce of 500 people.
And then, the couple opened the first Zara shop.
Zara’s competitive positioning strategy in its first year
The opening of the first Zara shop in 1975 wasn’t just a new store to sell clothes. It was the final big move of a carefully planned vertical integration strategy.
To understand how the strategy was formulated , we need to understand Amancio’s first steps. His first business, GOA Confecciones, was a manufacturing business. He was supplying small stores and businesses with his products, and he wasn’t in contact with the end customer.
That brought two challenges:
- A lack of insight into market trends and no direct consumer feedback about preferences.
- Very low-profit margins compared to the 70-80% profit margin of retailers.
Amancio developed several ideas to improve distribution and get a direct relationship with the final purchaser. And he was always updating his factories with the latest technological advancements to offer the highest quality of products at the lowest possible price. But he was missing one essential part to reap the benefits of his distribution practices: a store .
So, in 1972 he opened one under the brand name Sprint . An experiment that quickly proved unsuccessful and, seven years later, was shut down. Although it’s unknown the extent to which Amancio put his ideas to the test, Sprint was a private masterclass in the retail world that gave Amancio insights that would later turn Zara into a global success.
Despite Sprint’s failure, Amancio didn’t abandon the idea of opening his own store mainly because he believed that his advanced production model was vulnerable and the rise of a competitor who could replicate and improve his system was imminent.
Adding a store to his vertical integration strategy would have a twofold effect:
- The store would operate as a direct feedback source. The company would be able to test design ideas before going into mass production while simultaneously getting an accurate pulse of the needs, tastes, and fancies of the customers. The store would simultaneously reduce risk and increase opportunity spotting.
- The company would have reduced operating costs as a retailer. Since the group would control all aspects of the process (from manufacturing to distribution to selling), it would solve key retail challenges with stocking. The savings would then be passed on to the customer. The store would have an operational competitive advantage and become a potential cash cow for the company.
The idea was to claim his spot in prime commercial areas (a core and persistent strategic move for Zara) and target the rising middle class. The market conditions were tough, though, with many family-owned businesses losing their customer base, giant players owning a huge market share, and Benetton’s franchising shops stealing great shop locations and competent potential managers.
So the first Zara store had these defining characteristics that made it the successful final piece of Amancio’s strategy:
- It was located near the factory = delivery of products was optimized
- It was in the city’s commercial heart = more expensive, but with access to affluence
- It was located in the city where Ortegas had the most customer experience = knowing thy customer
- It was visibly attractive = expensive, but a great marketing trick
Amancio’s team lacked experience and expertise in one key factor: display window designing . The display window was a massive differentiator and had to be bold and attractive. So, Amancio hired Jordi Bernadó, a designer with innovative ideas whose work transformed display windows and the sales process.
The Zara shop was a success, laying the foundations for the international expansion of the Inditex group.
Key Takeaway #1: Challenge your industry’s conventional wisdom to create a disruptive strategy
Disrupting an industry isn’t an easy task nor a frequent occurrence.
To do it successfully, you need to:
- Understand the prominent business mode of your industry and the forces that contributed to its development.
- Challenge the assumptions behind it and design a radically different business model.
- Develop ample space for experimentation and failures.
The odds of instantly conquering the industry might be low (otherwise, someone would have already done it), but you’ll end up with out-of-the-box ideas and a higher sensitivity to potential disruptors in your competitive arena.
Recommended reading: How To Write A Strategic Plan + Example
How Zara’s supply chain strategy is at the core of its business strategy
According to many analysts, the Zara supply chain strategy is its most important innovative component.
Amancio Ortega and other senior members of the group disagree. Nevertheless, the Inditex logistics strategy is extraordinarily efficient and plays a crucial role in sustaining its competitive advantage. Most companies in the clothing retail industry take an average of 4-8 weeks between inception and putting the product on the shelf. The group achieves the same in an average of two weeks. That’s nothing short of extraordinary.
Let’s see how Zara developed its logistics and business strategy.
Innovative logistics: how Zara’s supply chain evolved
The logistics methods developed by companies are highly dependent on external factors.
Take, for example, infrastructure. In the early days of Zara, when it was expanding through Spain, the company considered using trains as a transportation system. However, the schedule couldn’t keep up with Zara’s needs, which had the goal of distributing products twice a week to its shops. So transportation by road was the only way.
However, when efficiency is a high priority, it shapes logistics processes more than anything else.
And for Zara, efficient logistics was – and still is – of the highest priority.
Initially, leadership tried outsourcing logistics, but the experiment failed and the company assigned a member of the house with a thorough knowledge of the company's operating philosophy to take charge of the project. The tactic of entrusting important big projects to employees imbued with the company’s philosophy became a defining characteristic.
So, one of Zara’s early strategic decisions was that each shop would make orders twice a week. Since the first store was opened, the company has had the shortest stock rotation times in the industry. That’s what drove the development of its logistics methods. The whole strategy behind Zara relied on quick production and distribution. And the proximity of manufacturing and distribution was essential for the model to work. So Zara had these two centers in the same place.
Even when the brand was expanding around the world, its logistics center remained in Arteixo, Spain, despite being a less-than-ideal location for international distribution. At some point, the growth of the brand, and Inditex as a whole, outpaced Arteixo’s capacity, and the decentralization question came up.
The debate was tough among leadership, but the arguments were strong. Decentralization was necessary because of:
- Safety and security. If there was a fire or any other crippling disaster there (especially on a distribution day), then the company would face serious troubles on multiple fronts.
- Arteixo’s limitations. The company’s center in Arteixo was reaching its capacity limits.
So the company decided to decentralize the manufacturing and distribution of its brands.
Initially, the group made the decision to place differentiated logistics centers where the management of its chain of stores was based, i.e. Bershka would have a different logistics center than Pull&Bear, although they were both part of the Inditex Group. That idea emerged after Massimo Dutti and Stradivarius became part of Inditex. Those brands already had that geographical structure, and since the group integrated them successfully into its strategy and logistics model, it made sense to follow the same pattern with its other brands.
Besides, the proximity of the distribution centers to the headquarters of each brand allowed them to consolidate them based on the growth strategy and purpose of each brand (more on this later).
But just a few years after that, the group decided to build another production center for Zara that forced specialization between the two Zara centers. The specialization was based on location, i.e. each center would manufacture products that would stock the shelves of stores in specific locations.
Zara’s supply chain strategy is so successful because it’s constantly evolving as the group adapts to external circumstances and its internal needs. And just like its iconic fashion, the company always stays ahead of the logistics curve.
Zara’s business strategy transcends its logistics innovations
Zara’s business strategy relies on four key pillars:
- Flexibility of supply
- Instant absorption of market demand
- Response speed
- Technological innovation
Zara is the only brand in the Inditex group that is concerned with manufacturing. It’s the first brand in the clothing sector with a complete vertical organization. And the production model requires the adoption or development of the latest technological innovations.
This requirement is counterintuitive in the clothing sector.
Most people believe that making big investments in a market as mature as clothing is a bad idea. But the Zara production model is very capital and labor intensive. The technological edge derived from that investment gave the company, in the early days, the capability to manufacture over 50% of its own products while maintaining an extremely high stock rotation frequency.
Zara might be one of the best logistics companies in the world, but that particular excellence is a supporting factor, or at least a highly contributing factor, to its successful business strategy.
Zara’s business strategy is so much more than its supply chain strategy.
The company created the “fast fashion” term and industry. When other companies were manufacturing their collections once per season, Zara was adapting its collection to suit what people asked for on a weekly basis. The idea was to offer fashionable items at a fair price and faster than everybody else.
Part of its cost-cutting strategic priority was its marketing strategy. Zara didn’t – and still doesn’t – advertise like the rest of the clothing industry. Its marketing strategy starts with choosing the location of the stores and ends with advertising that the sales period has started. In the early years of the brand’s expansion, Amancio would visit potential store locations himself and choose the site to build the Zara shop.
The price was never an issue. If the location was in a commercial center, Zara would build its store there no matter how high the cost was because the company expected to recoup it quickly with increased sales.
Zara’s marketing is its own stores.
The strategy of Zara and her Inditex sisters
Despite Zara’s success (or because of it), Amancio Ortega created – or bought – multiple other brands that he included in the Inditex group, each one with a specific purpose.
- Zara was targeting middle-class women.
- Pull&Bear was targeting young people under twenty-five years old with casual clothing.
- Bershka was targeting rebel teens, especially girls, with hip-hop-style clothing.
- Massimo Dutti was targeting both sexes with more affluence.
- Stradivarius was competing with Bershka, giving Inditex two major brands in the teenage market.
- Oysho was concentrating on women's lingerie.
- Zara Home manufactures home textiles and decor.
Pull&Bear was initially targeting young males between the ages of 14 and 28. Later it extended to young females of the same age and focused on selling leisure and sports clothing. It has the slowest stock turnaround time in the group.
Bershka’s target group was girls between 13 and 23 years of age with highly individualized tastes. Prices were low, but the quality average. Almost a fiasco in the beginning, it underwent a successful strategic turnaround becoming today one of the biggest growth opportunities for the group. And out of all the Inditex chains, Bershka has the most creative designs.
Massimo Dutti was the first retail brand Amancio bought and didn’t create himself. Its strategy is very different from Zara, producing high-quality products and selling them at a high price. It’s an extension of the group’s offer to the higher end of the price spectrum in the fashion industry. It’s also the only Inditex chain brand that advertises regularly.
Stradivarius was the second acquired brand, with the purchase being a defensive move. The chain shares the same target group with Bershka, making it, to this day, a direct competitor.
Oysho started as an underwear and lingerie company. Its product lines evolved to include comfortable night and homewear along with swimwear and a very young children’s line. The brand’s strategy was aggressive from its conception, opening 286 stores in its first six years of existence.
Zara Home is the youngest brand in the Group and the only one outside the clothing sector, though still in the fashion industry. It was launched with the least confidence and with immense prior research. An experiment to extend the Zara brand beyond clothing, it was based on the conservative view that Zara could extend its product categories only to textile items for the home. But it turned out that customers were more accepting of Zara Home selling a wide variety of domestic items. So the brand made a successful strategic pivot.
Key Takeaway #2: The right people are more important than the best strategy
It might not be obvious in the story, but a key reason for Zara's and Inditex’s success has been the people behind them.
For example, a vast number of people in various positions from inside the group claim that Inditex cannot be understood without Amancio Ortega. Additionally, major projects like the development of Zara’s logistics systems and the group's international expansion had such a success precisely because of the people in charge of them.
Zara’s radically different model was a breakthrough because:
- Its leadership had a clear vision and a real strategy to execute it.
- People with a deep understanding of the company’s philosophy led Its largest projects.
Sustainability: Zara’s strategy to make fast fashion sustainable
Building a sustainable business in the fast fashion industry is a tough nut to crack.
To achieve it, Inditex has made sustainability a cornerstone of its business model. Its strategy revolves around the values of collaboration , transparency, and innovation . The group’s ambition is to make a positive impact with a vision of prosperity for the planet and its people by transforming its value chain and industry.
Inditex’s sustainability commitments and strategy to achieve them
Inditex has developed a sustainability roadmap that extends up to 2040 with ambitious goals. Specifically, it has committed to
- 100% consumption of renewable energy in all of its facilities by 2022 (report pending).
- 100% of its cotton to originate from more sustainable sources by 2023.
- 100% of its man-made cellulosic fibers to originate from more sustainable sources by 2023.
- Zero waste from its facilities by 2023.
- 100% elimination of single-use plastic for customers by 2023.
- 100% collection of packaging material for recycling or reuse by 2023.
- 100% of its polyester to originate from more sustainable sources by 2025.
- 100% of its linen to originate from sustainable sources by 2025.
- 25% reduction of water consumption in its supply chain by 2025.
- Net zero emissions by 2040.
The group’s commitments extend beyond environmental issues to how its manufacturing and supplying partners conduct their business . To bring its strategy to fruition, it has set up a new governance and management structure.
The Board of Directors is responsible for approving Inditex’s sustainability strategy. The Sustainability Committee oversees and controls all the proposals around the social, environmental, health, and safety impact of the group’s products, while the Ethics Committee makes sure operations are compliant with the rules of conduct. There is also a Social Advisory Board that includes external independent experts that advises Inditex on sustainability issues.
Finally, Javier Losada, previously the group’s Chief Sustainability Officer and now promoted to Chief Operations Officer, will be leading the sustainability transformation of the group. Javier Losada first joined Inditex back in 1993 and ascended its rank to reach the C-suite.
Inditex is dedicated to its commitment to reducing its environmental impact and seems to be headed in the right direction. The only question is whether it’s fast enough.
Key Takeaway #3: Integrating sustainability with business strategy is a present-day necessity
Governments and international bodies around the world are implementing more stringent environmental regulations, forcing companies to commit to ambitious goals and developing a realistic strategy to achieve them.
The companies that are impacted the least are those that always had sustainability as a high priority .
From the companies that require significant changes in their operations to comply with the new regulations, only those who integrate sustainability into their business strategy and model will succeed.
Why is Zara so successful?
Zara is the biggest Spanish clothing retailer in the world based on sales value. Its success is due to its fast fashion strategy that is based on a strong supply chain and quick market feedback loops.
Zara's customer-centric approach places a strong emphasis on understanding and responding to customer needs and preferences. This is reflected in the company's product design, marketing, and customer service strategies.
Zara made fashionable clothes accessible to the middle class.
Zara’s vision guides its future
Zara's vision, as part of the Inditex Group, is to create a sustainable fashion industry by promoting responsible consumption and production, respecting the environment and people, and contributing to the communities in which it operates.
The company aims to offer the latest fashion trends to its customers at accessible prices while continuously innovating and improving its operations and processes.
Growth by numbers (Inditex)
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How it works.
How to Write a Restaurant Business Plan in 2024 (Step by Step Guide with Templates)
A comprehensive restaurant business plan is a framework that guides you to plan and forecast every element of restaurant management and operations.
This includes anything from your restaurant's menu design, location, financials, employee training, and a lot more.
Crafting a solid business plan is important, as it helps:
- Transform your restaurant ideas into reality.
- Boosts entrepreneurial success by 16% (Harvard Business Study) .
- Equips you to navigate challenges before they arise.
- Attracts potential investors.
“You have to show any potential investor that you have an actual plan, you know what you’re talking about, it looks professional, and you’re not just screwing around.” - Charles Bililies, owner of Souvla
Planning is key to restaurant success. Without a plan, you're more likely to join the 26% of restaurants that fail within a year.
Create a business plan to set yourself up for success.
Here's how to get started.
A step-by-step guide to writing a restaurant business plan
Embarking on a restaurant venture is an exciting prospect filled with endless possibilities.
However, the key to transforming your culinary dreams into reality lies in the foundation of a well-crafted restaurant business plan.
This guide will walk you through creating a winning restaurant business plan , from defining your niche to seeking expert advice.
So, are you ready to cook up some success? Let's get started.
Essential components of a restaurant business plan
A well-structured restaurant business plan typically consists of the following key components:
- Executive Summary
Company Description
- Market Analysis
- Restaurant Design
- Market Overview
- External help
- Financial Analysis
Delving into each section
Now, let's take a closer look at each section of your restaurant business plan and explore the key elements to consider:
1. Executive summary
A restaurant business plan should always begin with an executive summary. Why?
- 80% of venture capitalists say they read the executive summary first.
- 62% of investors say they would not continue reading a business plan if the executive summary did not capture their interest.
- A strong executive summary can increase the likelihood of securing funding by up to 40%.
An executive summary not only acts as the introduction to your restaurant business plan samples but also as a summary of the entire idea.
The main aim of an executive summary is to draw the reader (oftentimes an investor) into the rest of your business plan.
The executive summary also helps you envision the identity of your restaurant which essentially shapes the customer experience and sets you apart from competitors.
To establish a distinct identity, you need to focus on c ommon elements of an executive summary, including:
- A mission statement
- Proposed concept development
- Cuisine selection
- The overall execution
- The potential costs
- Expected return on investments (ROI)
Let's take a more in-depth look at the concept development, cuisine selection, and mission statement.
Further reading
- How to write a restaurant executive summary
Concept Development
Selecting the type of restaurant, service style, and atmosphere is the first step towards creating a unique dining experience. Whether you envision a sample menu for a:
- cozy, intimate bistro
- bustling quick-service deli
- fast-casual restaurant
- fine dining establishment
Your concept should reflect your passion and expertise in the industry.
With a broad range of options, it’s critical to scrutinize your target market and pinpoint the most suitable choice considering their preferences and your capabilities.
When planning your restaurant design, keep in mind that it should effectively complement your chosen theme and cuisine.
Additionally, consider the potential for patio seating and the involvement of your management team in making these critical decisions.
A well-thought-out concept will not only set the stage for an unforgettable dining experience but also pique the interest of potential investors.
Cuisine Selection
The cuisine you select for your restaurant can significantly influence its success.
Choosing the appropriate cuisine is vital for distinguishing your establishment from competitors and attracting your target market.
To make an informed decision, consider factors such as:
- Market demand
- Expertise and passion
- Ingredient availability
- Competition
- Profitability
- Cultural fit
- Seasonality
Dietary restrictions and trends
In the highly competitive restaurant industry, keeping track of current and emerging cuisine trends can be a significant advantage.
From regional delicacies to innovative fusion dishes, understanding what’s popular and in demand can help you tailor your offerings to the desires of your target audience.
By thoroughly analyzing the market and adapting to evolving tastes, your restaurant can remain relevant and successful in the long run.
Crafting a mission statement
A well-constructed mission statement communicates the purpose, values, and goals of your restaurant to potential investors and customers alike.
A mission statement serves as a guiding light for decision-makers and employees, fueling their efforts to achieve your restaurant’s objectives.
To create an impactful mission statement, consider the following steps:
- Identify the purpose of the restaurant.
- Contemplate the brand’s image.
- Account for the target audience.
- Incorporate company values.
- Ensure brevity and comprehensiveness.
Related content: How to Write a Restaurant Mission Statement
Remember, your mission statement should not only differentiate your restaurant from competitors but also resonate with your target market.
By articulating your restaurant’s unique values and vision, you’ll create a strong foundation upon which to build a thriving and successful business.
2. Company description
This is the part of the restaurant business plan where you fully introduce the company.
Start this section with the name of the restaurant you are opening along with the location, contacts, and other relevant information.
Also, include the owner’s details and a brief overview or description of their experience.
The second part of the company description should highlight the legal standing of the restaurant and outline the restaurant’s short and long-term goals.
Provide a brief market study showing that you understand the trends in the regional food industry and why the most independent restaurant investors will succeed in this market.
Here's an example of the page layout:
Restaurant Name: [Restaurant Name]
Location: [Restaurant Address]
Contact: [Restaurant Phone Number] | [Restaurant Email Address]
Owner: [Owner Name]
Experience: [Owner Name] has over [Number] years of experience in the restaurant industry. They have worked in various roles, including [List of Roles]. They are passionate about food and creating a memorable dining experience for their guests.
Legal Standing: [Restaurant Name] is a [Type of Legal Entity] registered in [State/Province].
Short-term Goals:
- Generate [Amount] in revenue within the first year of operation.
- Achieve a [Percentage] customer satisfaction rating within the first six months of operation.
Long-term Goals:
- Expand to a second location within five years.
- Become a recognized leader in the regional food industry.
Market Study:
The regional food industry is experiencing a number of trends, including:
- An increasing demand for fresh, local ingredients.
- A growing interest in ethnic cuisine.
- A preference for casual dining experiences.
3. Market analysis
The market analysis portion of the restaurant business plan is typically divided into three parts.
3.1 Industry analysis
What is your target market? What demographics will your restaurant cater to?
This section aims to explain your target market to investors and why you believe guests will choose your restaurant over others.
Comprehending your target market is key to customizing your restaurant offerings to their preferences and needs.
By diving into demographics, preferences, dining habits, and trends, you can fine-tune your concept and marketing strategy to reach and appeal to your target audience effectively.
An example of analyzing your target market
Comprehending your target market is key to customizing your restaurant offerings to their preferences and needs.
Demographics and preferences
Identifying your primary target market involves considering factors such as:
For example, a neighborhood with a high concentration of families might prefer a family-friendly restaurant with a diverse menu catering to various age groups and dietary preferences.
Conversely, a trendy urban area with a predominantly young and affluent population may gravitate towards upscale dining experiences and innovative cuisine.
Cultural and ethnic backgrounds also have a significant impact on restaurant preferences, with people from different backgrounds having distinctive tastes and customs that influence their dining choices.
By thoroughly understanding the demographics and preferences of your target market, you’ll be better equipped to create a restaurant concept that resonates with them and ultimately drives success.
Dining habits and trends
As the restaurant industry continues to evolve, staying informed about dining habits and trends is crucial for adapting your offerings and attracting customers.
For example, the rise of online ordering and delivery services has significantly influenced dining habits, with many consumers seeking the convenience of having their meals delivered to their doorstep.
Health trends have also had an impact on dining habits, with an increasing number of individuals seeking healthier options when dining out.
By staying abreast of current habits and trends, you can anticipate the needs and desires of your target market and tailor your restaurant’s offerings accordingly.
This forward-thinking approach will not only help you stay competitive but also foster long-term success in the ever-changing restaurant landscape.
- How to find your restaurant's target market
3.2 Competition analysis
It's easy to assume that everyone will visit your new restaurant first, so it is important to research your competition to make this a reality.
What restaurants have already established a customer base in the area?
Take note of everything from their prices, hours, and service style to menu design to the restaurant interior.
Then explain to your investors how your restaurant will be different.
3.3 Marketing analysis
Your investors are going to want to know how you plan to market your restaurant. How will your marketing campaigns differ from what is already being done by others in the restaurant industry?
How do you plan on securing your target market? What kind of offers will you provide your guests? Make sure to list everything.
The most important element to launching a successful restaurant is the menu . Without it, your restaurant has nothing to serve.
At this point, you probably don’t have a final version, but for a restaurant business plan, you should at least try to have a mock-up.
Add your logo to the mock-up and choose a design that you can see yourself actually using. If you are having trouble coming up with a menu design or don’t want to pay a designer, there are plenty of resources online to help.
The key element of your sample menu though should be pricing. Your prices should reflect the cost analysis you’ve done for investors. This will give them a better understanding of your restaurant’s target price point. You'll quickly see how important menu engineering can be, even early on.
5. Employees
The company description section of the restaurant business plan briefly introduces the owners of the restaurant with some information about each. This section should fully flesh out the restaurant's business plan and management team.
The investors don’t expect you to have your entire team selected at this point, but you should at least have a couple of people on board. Use the talent you have chosen thus far to highlight the combined work experience everyone is bringing to the table.
6. Restaurant design
The design portion of your restaurant business plan is where you can really show off your thoughts and ideas to the investors. If you don’t have professional mock-ups of your restaurant rendered, that’s fine.
Instead, put together a mood board to get your vision across. Find pictures of a similar aesthetic to what you are looking for in your restaurant.
The restaurant design extends beyond aesthetics alone and should include everything from restaurant software to kitchen equipment.
7. Location
The location you settle on for your restaurant should be well aligned with your target market (making it easier to cater to your ideal customer) and with your business plans.
At this stage in the process, its not uncommon to not have a specific location in mind - but you should at the very least have a few options to narrow down.
Tip: When you approach your investors about potential locations, make sure to include as much information as possible about each venue and why it would be ideal for your brand. Go into as much detail as possible - including everything from square footage to the demographics of the area.
Example for choosing an ideal location
Choosing the ideal location for your restaurant is a pivotal decision that can greatly influence your success.
To make the best choice, consider factors such as foot traffic, accessibility, and neighborhood demographics.
By carefully evaluating these factors, you’ll be better equipped to maximize visibility and attract your target market.
Foot traffic and accessibility
Foot traffic and accessibility are essential factors in selecting a location that will attract customers and ensure convenience.
A high-traffic area with ample parking and public transportation options can greatly increase the likelihood of drawing in potential customers.
Additionally, making your restaurant accessible to individuals with disabilities can further broaden your customer base and promote inclusivity.
It’s also important to consider the competition in the area and assess whether your restaurant can stand out among existing establishments.
By choosing a location with strong foot traffic and accessibility, you’ll be well on your way to creating a thriving restaurant that appeals to your target market.
Neighborhood demographics
Analyzing neighborhood demographics can help you determine if your restaurant’s concept and cuisine will appeal to the local population.
Factors such as income levels, family structures, and cultural diversity can all influence dining preferences and habits.
By understanding the unique characteristics of the neighborhood, you can tailor your offerings and marketing efforts to resonate with the local community.
Conducting a market analysis can be a valuable step in this process.
To gather demographic data for a particular neighborhood, you can utilize resources such as the U.S. Census Bureau’s American Community Survey and reference maps.
Armed with this information, you can make informed decisions about your restaurant’s concept, menu, and pricing, ensuring that your establishment is well-positioned for success within the community.
Conducting market research will further strengthen your understanding of the local demographic.
8. Market overview
The market overview section is heavily related to the market research and analysis portion of the restaurant business plan. In this section, go into detail about both the micro and macro conditions in the area you want to set up your restaurant.
Discuss the current economic conditions that could make opening a restaurant difficult, and how you aim to counteract that. Mention all the other restaurants that could prove to be competition and what your strategy is to set yourself apart.
9. Marketing
With restaurants opening left and ride nowadays, investors are going to want to know how you will get word of your restaurant to the world.
The next marketing strategy and publicity section should go into detail on how you plan to market your restaurant before and after opening. As well as any plans you may have to bring a PR company on board to help spread the word.
Read more: How to write a restaurant marketing plan from scratch
10. External help
To make your restaurant a reality, you are going to need a lot of help. List any external companies or software you plan on hiring to get your restaurant up and running.
This includes everything from accountants and designers to suppliers that help your restaurant perform better, like POS systems and restaurant reservation systems .
Explain to your other potential investors about the importance of each and what they will be doing for your restaurant.
11. Financial analysis
The most important part of your restaurant business plan is the financial section . We would recommend hiring professional help for this given its importance.
Hiring a trained accountant will not only help you get your own financial projections and estimates in order but also give you a realistic insight into owning a restaurant.
You should have some information prepared to make this step easier for the accountant.
He/she will want to know how many seats your restaurant has, what the check average per table will be, and how many guests you plan on seating per day.
In addition to this, doing rough food cost calculations for various menu items can help estimate your profit margin per dish. This can be achieved easily with a free food cost calculator.
- Important restaurant metrics to track
A well-crafted restaurant business plan serves as a roadmap to success, guiding every aspect of the venture from menu design to employee training.
By carefully considering each component of the plan, aspiring restaurateurs can increase their chances of securing funding, attracting customers, and achieving their long-term goals.
Remember, a restaurant business plan is not just a document to satisfy investors; it is a living tool that should be revisited and updated regularly as the business grows and evolves.
By staying committed to the plan and adapting it as needed, restaurateurs can ensure that their culinary dreams have a solid foundation for success.
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Saif Alnasur used to work in his family restaurant, but now he is a food influencer and writes about the restaurant industry for Eat App.
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How to Write a Restaurant Business Plan
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When starting a business—no matter what type of business that may be—a business plan is essential to map out your intentions and direction. That’s the same for a restaurant business plan, which will help you figure out where you fit in the landscape, how you’re going to differ from other establishments around you, how you’ll market your business, and even what you’re going to serve. A business plan for your restaurant can also help you later if you choose to apply for a business loan .
While opening a restaurant isn’t as risky as you’ve likely heard, you still want to ensure that you’re putting thought and research into your business venture to set it up for success. And that’s where a restaurant business plan comes in.
We’ll go through how to create a business plan for a restaurant and a few reasons why it’s so important. After you review the categories and the restaurant business plan examples, you can use the categories to make a restaurant business plan template and start your journey.
Why you shouldn’t skip a restaurant business plan
First-time restaurateurs and industry veterans alike all need to create a business plan when opening a new restaurant . That’s because, even if you deeply understand your business and its nuances (say, seasonal menu planning or how to order correct quantities), a restaurant is more than its operations. There’s marketing, financing, the competitive landscape, and more—and each of these things is unique to each door you open.
That’s why it’s so crucial to understand how to create a business plan for a restaurant. All of these things and more will be addressed in the document—which should run about 20 or 30 pages—so you’ll not only have a go-to-market strategy, but you’ll also likely figure out some things about your business that you haven’t even thought of yet.
Additionally, if you’re planning to apply for business funding down the line, some loans—including the highly desirable SBA loan —actually require you to submit your business plan to gain approval. In other words: Don’t skip this step!
How much do you need?
with Fundera by NerdWallet
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
How to write a restaurant business plan: Step by step
There’s no absolute format for a restaurant business plan that you can’t stray from—some of these sections might be more important than others, for example, or you might find that there’s a logical order that makes more sense than the one in the restaurant business plan example below. However, this business plan outline will serve as a good foundation, and you can use it as a restaurant business plan template for when you write your own.
Executive summary
Your executive summary is one to two pages that kick off your business plan and explain your vision. Even though this might seem like an introduction that no one will read, that isn’t the case. In fact, some investors only ask for the executive summary. So, you’ll want to spend a lot of time perfecting it.
Your restaurant business plan executive summary should include information on:
Mission statement: Your goals and objectives
General company information: Include your founding date, team roles (i.e. executive chef, sous chefs, sommeliers), and locations
Category and offerings: What category your restaurant fits into, what you’re planning to serve (i.e. farm-to-table or Korean), and why
Context for success: Any past success you’ve had, or any current financial data that’ll support that you are on the path to success
Financial requests: If you’re searching for investment or financing, include your plans and goals here and any financing you’ve raised or borrowed thus far
Future plans: Your vision for where you’re going in the next year, three years, and five years
When you’re done with your executive summary, you should feel like you’ve provided a bird’s eye view of your entire business plan. In fact, even though this section is first, you will likely write it last so you can take the highlights from each of the subsequent sections.
And once you’re done, read it on its own: Does it give a comprehensive, high-level overview of your restaurant, its current state, and your vision for the future? Remember, this may be the only part of your business plan potential investors or partners will read, so it should be able to stand on its own and be interesting enough to make them want to read the rest of your plan.
Company overview
This is where you’ll dive into the specifics of your company, detailing the kind of restaurant you’re looking to create, who’s helping you do it, and how you’re prepared to accomplish it.
Your restaurant business plan company overview should include:
Purpose: The type of restaurant you’re opening (fine dining, fast-casual, pop-up, etc.), type of food you’re serving, goals you have, and the niche you hope to fill in the market
Area: Information on the area in which you’re opening
Customers: Whom you’re hoping to target, their demographic information
Legal structure: Your business entity (i.e. LLC, LLP, etc.) and how many owners you have
Similar to your executive summary, you won’t be going into major detail here as the sections below will get into the nitty-gritty. You’ll want to look at this as an extended tear sheet that gives someone a good grip on your restaurant or concept, where it fits into the market, and why you’re starting it.
Team and management
Barely anything is as important for a restaurant as the team that runs it. You’ll want to create a section dedicated to the members of your staff—even the ones that aren’t yet hired. This will provide a sense of who is taking care of what, and how you need to structure and build out the team to get your restaurant operating at full steam.
Your restaurant business plan team and management section should have:
Management overview: Who is running the restaurant, what their experience and qualifications are, and what duties they’ll be responsible for
Staff: Other employees you’ve brought on and their bios, as well as other spots you anticipate needing to hire for
Ownership percentage: Which individuals own what percentage of the restaurant, or if you are an employee-owned establishment
Be sure to update this section with more information as your business changes and you continue to share this business plan—especially because who is on your team will change both your business and the way people look at it.
Sample menu
You’ll also want to include a sample menu in your restaurant business plan so readers have a sense of what they can expect from your operations, as well as what your diners can expect from you when they sit down. This will also force you to consider exactly what you want to serve your diners and how your menu will stand out from similar restaurants in the area. Although a sample menu is in some ways self-explanatory, consider the following:
Service : If your brunch is as important as your dinner, provide both menus; you also might want to consider including both a-la-carte and prix fixe menus if you plan to offer them.
Beverage/wine service: If you’ll have an emphasis on specialty beverages or wine, a separate drinks list could be important.
Seasonality: If you’re a highly seasonal restaurant, you might want to consider providing menus for multiple seasons to demonstrate how your dishes (and subsequent purchasing) will change.
Market analysis
This is where you’ll begin to dive deeper. Although you’ve likely mentioned your market and the whitespace you hope to address, the market analysis section will enable you to prove your hypotheses.
Your restaurant business plan market analysis should include:
Industry information: Include a description of the restaurant industry, its size, growth trends, and other trends regarding things such as tastes, trends, demographics, structures, etc.
Target market: Zoom in on the area and neighborhood in which you’re opening your restaurant as well as the type of cuisine you’re serving.
Target market characteristics: Describe your customers and their needs, how/if their needs are currently being served, other important pieces about your specific location and customers.
Target market size and growth: Include a data-driven section on the size of your market, trends in its growth, how your target market fits into the industry as a whole, projected growth of your market, etc.
Market share potential: Share how much potential there is in the market, how much your presence will change the market, and how much your specific restaurant or restaurant locations can own of the open market; also touch on any barriers to growth or entry you might see.
Market pricing: Explain how you’ll be pricing your menu and where you’ll fall relative to your competitors or other restaurants in the market.
Competitive research: Include research on your closest competitors, how they are both succeeding and failing, how customers view them, etc.
If this section seems like it might be long, it should—it’s going to outline one of the most important parts of your strategy, and should feel comprehensive. Lack of demand is the number one reason why new businesses fail, so the goal of this section should be to prove that there is demand for your restaurant and show how you’ll capitalize on it.
Additionally, if market research isn’t your forte, don’t be shy to reach out to market research experts to help you compile the data, or at least read deeply on how to conduct effective research.
Marketing and sales
Your marketing and sales section should feel like a logical extension of your market analysis section, since all of the decisions you’ll make in this section should follow the data of the prior section.
The marketing and sales sections of your restaurant business plan should include:
Positioning: How you’ll describe your restaurant to potential customers, the brand identity and visuals you’ll use to do it, and how you’ll stand out in the market based on the brand you’re building
Promotion: The tools, tactics, and platforms you’ll use to market your business
Sales: How you’ll convert on certain items, and who/how you will facilitate any additional revenue streams (i.e. catering)
It’s likely that you’ll only have concepts for some of these elements, especially if you’re not yet open. Still, get to paper all of the ideas you have, and you can (and should) always update them later as your restaurant business becomes more fully formed.
Business operations
The business operations section should get to the heart of how you plan to run your business. It will highlight both internal factors as well as external forces that will dictate how you run the ship.
The business operations section should include:
Management team: Your management structure and hierarchy, and who is responsible for what
Hours: Your hours and days of operation
Location: What’s special about your location that will get people through the door
Relationships: Any advantageous relationships you have with fellow restaurateurs, places for sourcing and buying, business organizations, or consultants on your team
Add here anything you think could be helpful for illustrating how you’re going to do business and what will affect it.
Here, you’ll detail the current state of your business finances and project where you hope to be in a year, three years, and five years. You’ll want to detail what you’ve spent, what you will spend, where you’ll get the money, costs you might incur, and returns you’ll hope to see—including when you can expect to break even and turn a profit.
Financial statements: If you’ve been in business for any amount of time, include existing financial statements (i.e. profit and loss, balance sheet, cash flow, etc.)
Budget: Your current budget or a general startup budget
Projections: Include revenue, cash flow, projected profit and loss, and other costs
Debt: Include liabilities if the business has any outstanding debt or loans
Funding request: If you’re requesting a loan or an investment, lay out how much capital you’re looking for, your company’s valuation (if applicable), and the purpose of the funding
Above all, as you’re putting your financials together, be realistic—even conservative. You want to give any potential investors a realistic picture of your business.
Feel like there are other important components but they don't quite fit in any of the other categories (or make them run too long)? That’s what the restaurant business plan appendix section is for. And although in, say, a book, an appendix can feel like an afterthought, don’t ignore it—this is another opportunity for you to include crucial information that can give anyone reading your plan some context. You may include additional data, graphs, marketing collateral (like logo mockups), and more.
Start Your Dream Business
The bottom line
Whether you’re writing a restaurant business plan for investors, lenders, or simply for yourself and your team, the most important thing to do is make sure your document is comprehensive. A good business plan for a restaurant will take time—and maybe a little sweat—to complete fully and correctly.
One other crucial thing to remember: a business plan is not a document set in stone. You should often look to it to make sure you’re keeping your vision and mission on track, but you should also feel prepared to update its components as you learn more about your business and individual restaurant.
This article originally appeared on JustBusiness, a subsidiary of NerdWallet.
On a similar note...
Restaurant Business Plan PDF Example
- February 23, 2024
- Business Plan
Creating a comprehensive business plan is crucial for launching and running a successful restaurant. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your restaurant’s identity, navigate the competitive market, and secure funding for growth.
This article not only breaks down the critical components of a restaurant business plan, but also provides an example of a business plan to help you craft your own.
Whether you’re an experienced entrepreneur or new to the food and beverage industry, this guide, complete with a business plan example, lays the groundwork for turning your restaurant concept into reality. Let’s dive in!
Our restaurant business plan is structured to cover all essential aspects needed for a comprehensive strategy. It outlines the restaurant’s operations, marketing strategy, market environment, competitors, management team, and financial forecasts.
- Executive Summary: Offers an overview of the restaurant’s business concept, market analysis, management, and financial strategy.
- Restaurant & Location: Describes the restaurant’s prime location, size, seating capacity, and distinctive design, emphasizing its appeal to the target demographic.
- Supply & Operations: Outlines the supply chain management, focusing on local sourcing and quality ingredients, and details the operational aspects, including kitchen layout, equipment, and front-of-house operations.
- Key Stats: Shares industry size, growth trends, and relevant statistics for the full-service restaurant market.
- Key Trends: Highlights recent trends affecting the restaurant sector, such as health-conscious dining, sustainability, and technology integration.
- Key Competitors: Analyzes the main competitors in the vicinity, showcasing the restaurant’s unique selling proposition in comparison.
- SWOT: Strengths, weaknesses, opportunities, and threats analysis.
- Marketing Plan: Strategies for promoting the restaurant to maximize visibility and customer engagement.
- Timeline: Key milestones and objectives from the initial setup through the launch and operational optimization.
- Management: Information on who manages the restaurant and their roles.
- Financial Plan: Projects the restaurant’s financial performance, including revenue, profits, and expected expenses, aiming for profitability and sustainable growth.
Restaurant Business Plan
Download an expert-built 30+ slides Powerpoint business plan template
Executive Summary
The Executive Summary introduces your restaurant’s business plan, offering a concise overview of your establishment and its offerings. It should detail your market positioning, the variety of cuisines and dining experiences you offer, its location, size, and an outline of day-to-day operations.
This section should also explore how your restaurant will integrate into the local market, including the number of direct competitors within the area, identifying who they are, along with your restaurant’s unique selling points that differentiate it from these competitors.
Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the restaurant’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your restaurant’s financial plan.
Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan
Dive deeper into Executive Summary
Business Overview
For a Restaurant, the Business Overview section can be concisely divided into 2 main slides:
Restaurant & Location
Briefly describe the restaurant’s physical environment, emphasizing its design, ambiance, and the overall dining experience it offers to guests. Mention the restaurant’s location, highlighting its accessibility and the convenience it offers to diners, such as proximity to entertainment venues or ease of parking. Explain why this location is advantageous in attracting your target clientele.
Supply & Operations
Detail the range of cuisines and dishes offered, from appetizers and main courses to desserts and specialty beverages. Outline your sourcing strategy, ensuring it reflects a commitment to quality and sustainability, and matches the market you’re targeting.
Highlight any unique culinary techniques, exclusive ingredients, or innovative kitchen technologies that set your restaurant apart. Discuss your operational strategies, including inventory management, supplier relationships, and kitchen workflow, to ensure efficiency and consistency in delivering exceptional dining experiences.
Make sure to cover here _ Restaurant & Location _ Supply & Operations
Market Overview
Industry size & growth.
In the Market Overview of your restaurant business plan, start by examining the size of the restaurant industry and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.
Key market trends
Proceed to discuss recent market trends, such as the increasing consumer interest in farm-to-table dining, ethnic cuisines, and experiential dining experiences.
For example, highlight the demand for restaurants that offer unique cultural dishes, the growing popularity of health-conscious and dietary-specific menus, and the integration of technology in enhancing the dining experience.
Key competitors
Then, consider the competitive landscape, which includes a range of dining establishments from gourmet fine dining to fast-casual eateries, as well as the rise of food delivery services and meal kits.
For example, emphasize what makes your restaurant distinctive, whether it’s through a unique culinary approach, a niche market focus, or a strong commitment to sustainability and local sourcing.
Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors
Dive deeper into Key competitors
First, conduct a SWOT analysis for the restaurant , highlighting Strengths (such as a unique menu and exceptional customer service), Weaknesses (including potential high operational costs or strong competition in the area), Opportunities (for example, a growing interest in diverse cuisines and healthy eating), and Threats (such as economic downturns that may decrease consumer spending on dining out).
Marketing Plan
Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, promotional discounts, an engaging social media presence, food blogger outreach, and community involvement, such as local events or charity sponsorships.
Finally, create a detailed timeline that outlines critical milestones for the restaurant’s opening, marketing campaigns, customer base growth, and expansion objectives, ensuring the business moves forward with clear direction and purpose.
Make sure to cover here _ SWOT _ Marketing Plan _ Timeline
Dive deeper into SWOT
Dive deeper into Marketing Plan
The management section focuses on the restaurant’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the restaurant towards its financial and operational goals.
For your restaurant business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.
Financial Plan
The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your restaurant’s approach to securing funding, managing cash flow, and achieving breakeven.
This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.
For your restaurant business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).
Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds
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This sample business plan has been made available to users of Business Plan Pro, business planning software published by Palo Alto Software, Inc. Names, locations and numbers may have been changed, and substantial portions of the original plan text may have been omitted to preserve confidentiality and proprietary information.
You are welcome to use this plan as a starting point to create your own, but you do not have permission to resell, reproduce, publish, distribute or even copy this plan as it exists here.
Requests for reprints, academic use, and other dissemination of this sample plan should be emailed to the marketing department of Palo Alto Software at [email protected] . For product information visit our website: www.paloalto.com or call: 1-800-229-7526.
Copyright Palo Alto Software, Inc., 1995-2009 All rights reserved.11.0 Executive Summary
2Chart: Highlights
21.1 Mission
21.2 Keys to Success
31.3 Objectives
42.0 Company Summary
42.1 Company Ownership
42.2 Start-up Summary
52.2.1 Location & Operations
6Chart: Start-up
6Table: Start-up
7Table: Start-up Funding
83.0 Services
93.1 Zara Menus
104.0 Market Analysis Summary
104.1 Market Segmentation
11Table: Market Analysis
11Chart: Market Profile (Pie)
114.2 Target Market Segment Strategy
124.3 Service Business Analysis
124.3.1 Competition and Buying Patterns
135.0 Strategy and Implementation Summary
135.1 Competitive Edge
135.1.1 Competitor Analysis
155.2 Marketing Strategy
175.2.1 Marketing Program
195.3 Sales Strategy
195.3.1 Sales Forecast
20Table: Sales Forecast
20Chart: Sales Monthly
21Chart: Sales by Year
215.4 Milestones
21Table: Milestones
226.0 Web Plan Summary
237.0 Management Summary
247.1 Management Team
257.2 Personnel Plan
27Table: Personnel
288.0 Financial Plan
288.1 Investment Opportunities
298.2 Important Assumptions
318.2.1 Risk Analysis/Mitigation
32Table: General Assumptions
338.3 Profit and Loss Statement
33Chart: Profit Monthly
34Chart: Profit Yearly
34Chart: Gross Margin Monthly
35Chart: Gross Margin Yearly
35Table: Profit and Loss
378.4 Break-even Analysis
37Table: Break-even Analysis
37Chart: Break-even Analysis
388.5 Cash Flow Statement
38Chart: Cash
38Table: Cash Flow
408.6 Balance Sheet Statement
40Table: Balance Sheet
418.7 Business Ratios
41Table: Ratios
428.8 Expansion, Payback & Exit Strategy
1Table: Sales Forecast
2Table: General Assumptions
3Table: Profit and Loss
5Table: Cash Flow
7Table: Balance Sheet
8Table: Personnel
1.0 Executive Summary
Our initial statement to Investors and Financial Lenders, this restaurant/ethnic food business plan, is a candid disclosure of the Zara Restaurant & Lounge business proposal -our intent isto set realistic business expectations, and eliminate any questionsabout the profitability of this business venture.
Entrepreneurs have a tendency to paint the restaurant business plan with a very optimistic brush, highlighting strengths and camouflaging the risks. We, asbusiness owners, have a vested stake and financial commitment in the success of this restaurant. Our intent is tohave a definitive business, financial, and marketing plan that not only servesour need for capital financing, but is utilized as our daily business roadmap. We havetaken all precautions to validate our business and financialmodels,focusing on realistic projections. We have accomplished this as follows:
1. Our financial model is rooted in industry facts, not optimism. We have based costs on our vast industry and practical experience with similar ventures, validation against National Restaurant industry cost averages, and analysis against local Atlanta market averages. We have taken a collective look at all figures to make solid business estimates.
2. Our business concept was derived from detailed Market Analyses. Insteadof building a business around a preconceived concept, we analysed the market findings and built a concept around our consumers. In other words,our business is built to service an unmetconsumer 'want'.
3. A buffered financial plan that ensures adequate capitalization. A contingency buffer is included in the start-up cost to ensure the business in not under financed, as well as giving the business adequate funding to sustain it in the first six months of start-up. Our industry experience confirms a longer ramp-up stage for restaurants over other retail/service businesses. A common mistake for new entrepreneurs , but fully addressed in this business plan.
4. A solid Risk Mitigation Plan. We have evaluated traditional and non-traditional risks associated with Restaurant failure and accounted for them directly in the business plan. Instead of dismissing the risks, we have identified validmitigation strategies for each.
5. Deep Management Experience. Our management team has20 years combined experience,involved with over 86 restaurant openings, and deep involvement with the Atlanta restaurant industry.
The total capital requirement to launchZara Restaurant & Lounge is $740,000, of which $643,000 is allocated to start-up capital, and $97,000 as business operations cash reserve.
This Plan is being submitted in order to secure a Business loan for $430,000. The loan will be used towards Equipment purchase, Design, Construction, and Operational Start-Up expenses. Owners, Mr. Alex Hunte and Mr. Peter Smith are investing $110,000 in personal capital. Private Investors, who will be part owners with a non-managerial interest in the business, will contribute the remaining $200,000.
As owners, our commitment is to take personal accountability for all financial debt. We have taken the necessary precautions to ensure the business is fully capitalized, and have addressed all financial shortfalls to ensure a successful business start-up. Under a realistic scenario, the company should have over $84,000 in cashbalance the third year. Even with the worst-case sales scenario, we reach a Net Worth break even at the end of Year 5. On a linear projection, the entire financial debt will be retired by Year 7.
Chart: Highlights
1.1 Mission
Zarawill bean inspiring restaurant, combining an eclectic atmosphere with excellent and interesting food. The mission is to have not only a great food selection, butalso efficient and superior service - customer satisfaction is our paramount objective. Zara will be the restaurant of choice for a mature and adult crowd, couples and singles, young and old, male or female.
Employee welfare, participation, and training are equally important to our success. Everyone is treated fairly and with the utmost respect. Our employees will feel a part of the success of Zara Restaurant & Lounge.
Our concept combines variety, ambiance, entertainment and a superior staff to create a sense of 'place' in order to reach our goal of overall value in the dining/entertainment experience. We offer fair profits for the owners and investors, and a rewarding place to work for the employees.
1.2 Keys to Success
1. Unique, Innovative & Contemporary:The creation of a unique andinnovative fine dining atmosphere will differentiate us from the competition. The restaurant will stand out from the other restaurants in the area because of the unique design and decor. We will offer a fine dining experience in an electric atmosphere.
2. Product quality: great food, great service and atmosphere.
3. Spice of Life' Menu: The menu will appeal to a wide and varied clientele.Our eclectic menufeatures regional specialties around the globe,from Spanish ceviche, to Thai and Indian curries, to local crabcakes.
4. Employee Retention Focus: Employee retention and development programs will be a primary focus and success platform for this business. Through these programs, we will be able to draw seasoned and elite professionals and build a committed work force. We have budgeted for astock option program for Chef and Management positions to subsidize a lower salary base. This lowers ourimmediate overhead and attracts quality staff.
5. Cost Control Focus: We will control costs at all times, without exception. Cost Control will be an integrated function of the restaurant from the onset. Cost control is about managing the numbers -interpreting and comparing the numbers that impact the bottom line. 80 percent of the success of a restaurant is determined before it opens. Our focus is to reduce the cost of goods sold to meet our profit margin goals by managing the following crucial elements of cost: Purchasing, Receiving, Storage, Issuing Inventory, Rough Preparation, Service Preparation, Portioning, Order Taking, Cash Receipts, Bank Deposits and Accounts Payable. We will use of this restaurant/ethnic food business plan to track actual costs against our forecasts in managing thebusiness.
Due to intense competition, restauranteurs must look for ways to differentiate their business to achieve and maintain a competitive advantage. Midtown/Downtown Atlanta's redevelopment requires a place that will fit into the 'new look' of the community, onethat is contemporary and entertaining. Zara will fill that niche.
1.3 Objectives
Zara Restaurant & Lounge's objectives for the first three years of operation include:
Keeping food costs atless than 35% of revenue.
Improving our Gross Margin from 65.41% in Year 1 to 67.10 in Year 2. These are attainable targets; our stretch' is to attain 70.73% by Year 3.
Keeping employee labor cost between 37-39% of total sales.
Remaininga small, unique restaurant with eclectic food and service.
Averaging sales between $1,200,000 - 1,500,000 per year.
Promoting and expanding the Zara restaurant concept as a unique Midtown destination restaurant.
Expanding our marketing and advertising in Atlanta andin the neighboring suburbs toincrease our customer base.
Achieving a profitable investment returnfor investors for Years 2 - 6.
2.0 Company Summary
The DesignZara Restaurant & Lounge is unique to Midtown Atlanta. The restaurant features 3 venues in one (a concept called Multi-Branding'): A Tapas Lounge, Cosmopolitan Bar, and Full Service Dining. This concept offers customers variety, offering multiple dining and entertainment options within a single establishment. The spatial and menu divisions will broaden our appeal andprovideour customerswith a different experience on each visit.
The atmosphere caters to a young but mature adult crowd. This is not a family dining establishment. Total space requirementsare 3,000square feet. In total, the restaurant will provide seating for 110 patrons. Where possible, consideration will be given to incorporate a dining patio. Zoning, parking, and accessibility issues will be reviewed as key criteria. We will draw on our Advisory Board as part of the site selection and lease negotiation.
The MenuZara is focused on servicing Atlanta's growing demand for an ethnic eating experience.For lack of a better term we are launching a multi-ethnic' cuisine restaurant - a restaurant concept thatresponds toAtlanta's need for selection and choice. Zara is a complimentary mingling of international cuisine on a single menu. The Midtown demographics fit this concept perfectly.
The ManagementOur management teamhas over 48 years combined experience in food, restaurant and hotel, business management, finance, and marketing arenas.
2.1 Company Ownership
The restaurant will start out as an LLC corporation, owned by its founders, Zander Hunte and Peter Smith. Mr. Smith will function as the General Manager and Executive Chef,and Mr. Hunte as Managing Partner.
Mr. Hunte and Mr.Smith havea long-standingprofessional relationship in the restaurant industry, stemming back toToronto, Canada. Mr. Smith is an accomplished restauranteur, having owned several full-service restaurants. He currently owns Brassaii Restaurant (www.brassaii.com), and Bauhaus Bar and Nightclub. Mr. Smith is also an international Restaurant Consultant for top organizations such as the Starwood Group, who own the hotel chains of The Westin, Sheraton Hotels, Four Points, St. Regis, and W Hotels.
Mr. Hunte hasa background in International Business Management, and is certified in Restaurant and Hotel Management. Under the management of Zander Hunte, Myth Restaurant was a feature restaurant in Toronto, and distinguished as a top 10 restaurant while under his managementfrom 1992 - 1995.
2.2 Start-up Summary
We are currently negotiating a restaurant space of3,000 sq. ft. in Midtown Atlanta, Georgia, and will open Zara in October of this year.
Our start-up costs are mostly expensed equipment, furniture, painting, reconstruction, rent, start-up labor, liquor license, and legal and consulting costs associated with opening our restaurant. At the start of business, $97,000 will be allocated for business operations reserve. This is a solid start-up forecast based on our market analysis and our knowledge and experience in the industry.
We will purchase the following $73,311 worth of current assets during start-up :
Fixtures and Lighting: $32,250
Bar Equipment: $26,183
Sound and Televisions: $8,378
Office Equipment (2 Computers, Fax, Printer, Safe): $6,500
Long-term Assets in the amount of $65,000 include all kitchen equipment.
We have budgeted for the services for a premier Restaurant Consultant familiar with the Atlanta Market. This is especially key during the site selection and start-up stage. This company will have an integral role in validating the final restaurant location and personnel selection, and participate on the Zara Advisory Board.
The two owners are personally committing $110,000 of capital, plus a $300,000 SBA 7(A) loan guaranty. In addition, we have obtained a $130,000 grant from the city towards restoration of our historical building, as part of the city's Midtown revitalization program, contingent upon locating in the proposed space. We are seeking $200,000 ofequity investment to fully fund Zara's startup costs.
2.2.1 Location & Operations
Restaurant LocationMidtown Atlanta is the location selected for the Zara concept. The outlook for the future of Atlanta's Midtown district is exceptionally positive and the most progressive development area in the city. Developers are infusing over $50 billion in Commercial, Residential, and Retail development. Zara's will benefit from Atlanta's desire to revamp the Midtown district with a $130,000 renovation grant for restoring and renovating the 100 year old property we plan to lease.
The market has been carefully selected and tested for the necessary demographics and retail traffic necessary to meet the goals laid down for profitability. The busy Midtown commercial/residential location has been chosen based upon a successful demographic model and a traffic count of more than 33,000 cars daily.
Restaurant DesignSingle-Level Design Concept: Thetotal space requirement is 3,000 square feet. The restaurant will feature a comfortable and open concept design. The central dining area will allocate 76 seats, the lounge 22 seats, and the dining bar with 12 seats. In total, the restaurant will provide seating for 110 patrons. Where possible, consideration will be given to incorporate a dining patio. Zoning, parking, and accessibility issues will be reviewed as part of this analysis.
Optional Patio: During the busy summer months customers can also sit outside on our patio and we will offer a special summer menu, featuring lighter fare, exotic drinks, as well as non-alcoholic offerings. The patio setting will be a fun and casual atmosphere for the summer crowd.
Operating CriteriaThe restaurant will be located in Midtown Atlanta. The restaurant will service lunch, dinner, and after-hours dining during the week and weekends. The restaurant will operate during peak service time to take advantage of street traffic, and after-hour patronage from the entertainment facilities in the area. Service will be available during the following hours:
Lunch: Monday to Saturday, 11 a.m. - 2:30 p.m.
Dinner: Monday to Saturday, 5:30 p.m. - 12 midnight
Sundays - Market brunch takeout only.Chart: Start-up
Table: Start-up
Requirements
Start-up Expenses
PROJECT MANAGEMENT$0
Restaurant Consultant (4 months)$15,911
Architectural Design$2,195
Structural & Plumbing Design$1,368
Mechanical & Electrical Design$2,155
Graphic Design$1,185
Electrical & Structural Engineering Fees$2,592
Design Consultants (Kitchen, Interior & Dining)$9,119
Engineer & Architect Fees$7,040
CONSTRUCTION$0
Plumbing$33,244
HVAC (Air Return, Air Ducts, etc.)$19,250
Electrical$7,964
Disposal & Demolition$4,122
Structural Construction (4 Months General Labour)$52,099
Facade (Exterior Construction)$3,092
Plaster (Dry Wall)$2,061
Mill & Metal Work$8,244
Interior Finishes (2500 - 3000 sq. ft.)$14,538
Flooring$14,622
Fire Alarm System$3,092
Security & Phone System$4,615
EQUIPMENT$0
Liquor Control System - Lease$0
Stools, Chairs, Tables, Uniforms$38,025
POS (Point of Sale System) - Lease$0
Glassware, Flatware, Smallware (Bar & Lounge)$3,298
Glassware, Flatware, Smallware & Supplies (FOH)$8,298
Dishwasher, Ice & Glasswasher - Lease$0
Kitchen Equipment Freight Fees$2,389
FF&E Taxes (Taxes on Purchase)$7,988
OPERATIONAL$0
Capitalized Legal Fees (LLC, Investor Agreements)$7,080
Software: Restaurant/Inventory$5,500
Software: Cost Control$6,000
Impact, Tap & Permit Fees$3,115
Business License & Temp Certificate of Occ.$1,615
Liquor Licenses$4,615
Utilities, Disposal, Tax & Insurance$9,275
Security Deposits (Phone/Elec/Gas/Water)$6,250
Initial Lease Deposits$6,250
Bank & Loan Closing Costs$6,250
Web Site Construction$5,800
Initial Marketing, Training & PR$19,550
Research & Development$3,050
Start-Up Salary (Mngt & Chefs)$58,050
Recruiting (Staff)$14,550
Inspections$750
Initial Cleaning Services$1,000
Total Start-up Expenses$427,209
Start-up Assets
Cash Required$97,099
Start-up Inventory$27,500
Other Current Assets$73,311
Long-term Assets$65,000
Total Assets$262,910
Total Requirements$690,119
Table: Start-up Funding
Start-up Funding
Start-up Expenses to Fund$427,209
Start-up Assets to Fund$262,910
Total Funding Required$690,119
Non-cash Assets from Start-up$165,811
Cash Requirements from Start-up$97,099
Additional Cash Raised$49,881
Cash Balance on Starting Date$146,980
Total Assets$312,791
Liabilities and Capital
Liabilities
Current Borrowing$0
Long-term Liabilities$300,000
Accounts Payable (Outstanding Bills)$0
Other Current Liabilities (interest-free)$0
Total Liabilities$300,000
Planned Investment
Zander Hunte$60,000
Peter Smith$50,000
Investor 1$40,000
Investor 2$40,000
Investor 3$40,000
Investor 4$40,000
Investor 5$40,000
Midtown Revitalization Grant$130,000
Additional Investment Requirement$0
Total Planned Investment$440,000
Loss at Start-up (Start-up Expenses)($427,209)
Total Capital$12,791
Total Capital and Liabilities$312,791
Total Funding $740,000
3.0 Services
Zara Restaurant & Lounge will feature internationaldishes, aneclectic ambiance, and superior service. Our food will be of the finest quality and prepared with exotic flare. Customer satisfaction is the driving force behind our success. We will change our menu every4 months, but maintain the 'favorites' for loyal patrons.Portions will bemodestly sized,garnished with stunningpresentation.
Our wine list will be modest and primarily focused onwines from California, Spain, Portugal, and Argentina. Approximately 25% will be available exclusively by the glass, and the remaining labels will be available by the bottle.We will also feature a moderate international beer selectionon tap and in bottles.TheZara bar features a comprehensive selection of local and international spirits.
The kitchen staff will have the best in culinary education and work experience. Their creative talents will compliment one another. The lounge and restaurant staff will offer the finest servicein an electric atmosphere and offer customers an extraordinary dining experience.
3.1 Zara Menus
Zara's variedinternational menu willfeature Thai, Chinese, Spanish, and otherregionalflavors.The menu flows together to create complementary elements. Normal dining will have a reduced Tapas, Appetizer and Entre selection, while the Fusion Dim Sum menu will have special items featured only for after-hours dining. The final menu will be defined by the Executive Chef and paired with the wine menu. We have carefully selected a premiumwine, beer, and alcohollisting, from which we will choose a modest rotating selection. Zara'smarketing will focus on our exotic foods, but our hours, target market, and location will produce significant alcoholic drinks sales. Tapas, in particular, are small dishes meant for sharing while drinking sangria, wine, or other mixed drinks, and the Tapasmenu will play up this idea with drink suggestions.
The list below offers asmall selectionof our opening menu offerings:
Shrimp Baskets w/ sweet & sour peanut coulis Minced curry beef/chicken w/ onions in roti wrap (or spring roll)
Mixed Seafood Ceviche w/ couscous siding
Bamboo Chicken Satay w/ kaffir lime and Sesame marmalade
Zara Appetizers
Bread basket served with Olive oil, Black Pepper, and Goat Cheese dip
Blue Crab Fritters with Mango-Tamarind sauce
Crab Cake medallions w/ Shrimp & Lobster Zara'
Salads Mixed Greens with Spanish sherry wine vinaigrette
Asian Pear and Endive Salad with Blue Cheese & Walnuts
Entrees Tequila Scallops w/ a Spanish sherry reduction
Thai Red Chili rubbed shrimp
Voodoo Prince Curry Chicken and Bock Chow w/sticky rice in Banana Leaf
Herb Roasted Chicken with Zara' Coo-Chee (House) spices
Desserts Chocolate Chunk Bread Pudding w/ Bourbon Cherry sauce
Zara Chocolate Explosion Milk, Dark and White chocolate
Zara Fruit Plate
Specialty Drinks & Coffees ($3.5 - 9.5) A key source of revenue for the restaurant will be alcohol and bar sales. The restaurant will feature exotic drinks on a separate menu. Alcoholic drink specials will be featured, as well as a large non-alcoholic selection. After-hours bar service will feature selections of non-alcoholic drinks to increase bar sales during lunch and after regulatory hours. Bar pricing is competitive; prices range from $3.50 to 6.95. Non-alcoholic drinks will be in the higher price bracket due to preparation requirements. Prices will range from $4.75 to 9.50.
4.0 Market Analysis Summary
Insteadof building a business around a preconceived concept, we conducted market researchand built a concept around our consumers. Our market analysis identified the following key drivers as areas of opportunity to service Atlanta's restaurant customers:
1. Portion Selection: Nearly 95% of our surveyed focus group endorsed having a choice of different size portions. This statistic is in line with findings reported by theTableservice Operator Survey. Zara's Tapas concept is built to offer different-sized portions. Our customers want the option to choose what satisfies their appetite.
2. Menu Variety: Ethnic restaurantsare increasingin Atlanta. The proliferation of international cookbooks, food magazines, TV cooking shows and imported goods offers ample evidence that America, as a whole, is currently on an international tasting spree. In fact, eating places that identify themselves as ethnic establishments numbered nearly 78,000 in 1999 and recorded sales of $30.5 billion.Our research results do notidentify any single ethnic style of restaurant as desired, but rather suggest that incorporating strong multi-ethnic influences in the menu selection will be popular. Again, variety is the underlying element for this concept.
3. The Dining Experience: Customer satisfaction with food and service has been and continues to be of utmost importance, but our findings indicate that the dcor, lighting, bar, and other options to improve the dining experienceare also factors in customerdecisions. Zara takes all these factors in consideration for the design of this cosmopolitan restaurant.
4. Reasonable Prices: This was no surprise given the economic tide. Although the restaurant industry as a whole has seen growth in 2002/2003, customers are demanding value for their dining dollar. Zara's menu is priced at a mid-tier level, with no entre over $20. In addition we have an extended Tapas and Appetizer selection priced between $3.50 - $9.50, allowing budget dining in a full-service restaurant.
4.1 Market Segmentation
Zara's Restaurant & Loungeintends to cater to a wide customer base. We want everyone to feel welcome and entertained. We have defined the following groups as targeted segments that contribute to our growth projections:
The Business Person
Downtown Atlanta Couples
The Destination Customer
High-End Singles
These particular market segments are 25-45 years old, have disposable income, and are seeking upscale, trendy, and comfortable restaurant options. These are the types of people who frequent other restaurants and bars in the area. They arelikely to spend more on experiences they perceive as unique, cosmopolitan, and sophisticated. They are also the most open totrying something new, foodwise, and willembrace our international fusion cuisine.
Table: Market Analysis
Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential CustomersGrowthCAGR
Business Person18% 9,925 10,223 11,348 11,688 12,039 4.95%
Downtown Atlanta Couples32% 17,645 18,527 20,565 21,593 22,673 6.47%
Tourists13% 7,168 7,311 7,896 8,054 8,215 3.47%
The Destination Customer8% 4,411 4,499 4,724 4,818 4,914 2.74%
High-end Singles29% 15,991 16,950 18,815 19,944 21,141 7.23%
Total5.76% 55,140 57,510 63,348 66,097 68,982 5.76%
Chart: Market Profile (Pie)
4.2 Target Market Segment Strategy
The Business Person: They work hard all day and often stay overnight in a strange city. They need a competent establishment that helps impressclients and prospects. Afterward, they want to relaxand use the money they are making(or is expensed by their company). They spend the most on drinks, food and tips. Zara's cosmopolitan flair and comfortable atmosphere will be perfect for sophisticated business people, whether they live in and around Atlanta or are here for work.
Downtown Atlanta Couples: The restaurant will have an intimate, romantic, enticing adult atmosphere that suggests "date." Zara's will be the best date location in town. These young Midtown couples are generally very successful working professionals. In most cases they are budgeting to eat out on a regular basis, as they don't have the time to prepare food nightly.
The Destination Customer:Atlanta is a very'sectioned' city, and consumers often look only in their own neighborhoods for restaurant options.Zara willbreak these habits, using marketing to draw customers from outside the maincity limits. Zara will be a destination restaurant.Our Destination Clients tend to be new suburbanites that miss the excitement of the inner city. They have disposable income, and will spendquite a biton such outings. Zara's will be especially appealing to married suburban couples indulging themselves with a "date night" downtown, away from the kids. Many of these consumers are new to Atlanta from largercities, accustomed to dining within the city and at non-franchised restaurants.
High-end Singles: We will attract them with oureclectic atmosphere and layout.Our international menu, striking decor, entertainment and events, excellent service and engaging clientele will confirm the feeling of being in "the in place" in Atlanta. These are the individuals that pride themselves on socializing and dining at the premier locations - The Image Seekers.
Tourists: Atlanta attracts many vacationers during the summer months of May through September. Zara's will be a destination dining locale, with its attractive atmosphere, international menu, and lounge. A large percentage of the tourist population are vacationing singles, here to socialize and be entertained. This is especially true for the tourist population thatvisit for sporting and social events -they are not interested in family establishments.
4.3 Service Business Analysis
The restaurant industry is highly competitive and risky.The ownersknow this throughtheir many years of experience opening, running, and improving restaurants across North America. Most new restaurants opened by inexperienced owners struggle or fail. However, those based on solid understandings of the market needs, and management of inventory and staff have a much higher chance of success, especially when combined with prior experience in the restaurant industry.
Restaurants make money by taking inexpensive ingredients, combining them in creative ways, cooking them properly, and selling them at a much higher price. Any ingredients wasted in the kitchenare money thrown out. Any time wasted in seating customers, taking orders or preparing food is money walking away. While some entrepreneurs think that success is as simple as a good location and a trendy concept, we know the truth:
To succeed in the restaurant industry, you needan understanding of therisks and financial conditions, the ability to handle enormous pressure, andthe organizational skills to bring off what is essentially a giant catered party, two to threetimes a day.
4.3.1 Competition and Buying Patterns
In 2003, the top ten Atlanta restaurants shared two things: cozy, hip interiors and reasonably priced, regionally specialized menus. Only one of them offered traditional "southern" cooking. And half of them were located in Midtown. Our competitors are heading in the right direction, but only Zara is based on sound market research in the local market.
Atlanta consumers are seeking variety and new experiences. Location is clearly important, but so is atmosphere and distinctiveness. Our marketing challenge is thus to stand out from our competitors, not only as the "new" restaurant, but as one that offers consistently high quality food, menu variety, and a unique atmosphere.Maintaining our edge will depend partly on marketing ourselves as an adult-only destination, and not a family restaurant.
5.0 Strategy and Implementation Summary
Our strategy is simple. We intend to succeed by giving people a combination of excellent and interesting food in an environment that appeals to a wide and varied group of successful adults.
We will focus on establishing a strong identity in our community with a grand opening. Our main focus in marketing thereafter will be to increase customer awareness in the surrounding communities. We will direct all of our tactics and programs toward the goal of explaining who we are and what we do. We will keep our standards high and execute the concept flawlessly, so that word-of-mouth will be our main marketing force.
We will create an appealing and entertaining environment with unbeatable quality at an exceptional price. As an exciting and eclectic restaurant, we will be the talk of the town. Therefore, the execution of our concept is the most critical element of our plan.
All menu items are moderately priced for the area. While we are not striving to be the lowest-priced restaurant, we are aiming to offer exceptional food at reasonable prices for the average restaurant diner.
5.1 Competitive Edge
Zara's competitive edges are:
1. The owners' thorough understandings of opening and running a restaurant
2. An extraordinary contemporaryrestaurant design
3. International menu with featured menuchanges every 4 months
4. Unique, 3-Tiered spatial layout
5. Chef Co-op program to allow new entrants, trainee and featured chef
6. Chef/Management Stock Incentive Program.
7. Inner and Outer City Marketing campaign (i.e. "Come to Town" promotions)
8. Employee Training, Incentiveand Retention program
5.1.1 Competitor Analysis
Below are excerpts from our competitive analysis study.
1. The Kitchen (Direct Competitor):
We were able to draw some conclusions from this analysis that helped defined the concept and positioning for Zara: 1) Keep the menu pricing modest but offer superior food quality and presentation. We plan to keep the menu prices under $20; 2) Midtown is a prime restaurant location. One Midtown Kitchen is in an obscure location but has thrived as one of the more successful restaurants in the area; and 3) The customer base in this segment of Atlanta is ready for after-hours dining, and is willing to travel to establishments that accommodate their needs.
2. Lunaci (Direct Competitor):
This restaurant is a main competitor for Zara,a casual dining restaurant that has evolved to be a great success story for the Midtown district. This restaurant served to validate 1) the tapas concept appealfor Midtown customers; 2) the evolving need for after-hours dining; 3) tapas as a good food concept for after-hours dining (smaller portions, smaller price); 4) the appealof live Entertainment.
3. Cumulus (Indirect Competitor)This restaurant has grown in popularity over the years, and has gained popularity as a destination restaurant that can cater to business professionals as well as the local residents. The menu is somewhat formal for this market segment, but the bar attracts a good crowd. During this study it was evident that some patrons came exclusively to sit at the bar, without any intentof diningin the restaurant.
Cumulus is more of a formal dining restaurant and meets a certain need within the community, but I don't see it as a direct competitor of Zara. I do feel that it has some very special elements that have helped it succeed over the past 3 years, which Zara can benefit from.
4.Cheesecake Factory (#1 Restaurant Comparison):
Although Cheesecake Factory is outside of Zara's restaurant district and not considered a direct competitor, it was beneficial to analyze the most profitable restaurant in Atlanta to understand what contributes to their success. Cheesecake Factor offers several key elements that would alsobenefit Zara: 1) Customer Satisfaction through moderate pricing and high-quality food; 2) Location selection to benefit from core customer demographics, situated in a busy/popular area for both business and residential traffic; 3) Exceptional Service, from the Valet, to Hosting, to Wait, Bus, and Bar staff; and 4) Menu Variety,offering abroad array of menu items.
5. Swing Restaurant (Indirect Competitor):
This restaurant is not in our market district and therefore not a direct competitor, although we do consider it an indirect' competitor. Swing incorporates some of the characteristics that we have mapped out for Zara. Those elements are: 1) A Tapas and Entre menu realizing that customers want varied meal size and variety; 2) A club type atmosphere to entice the single scene and to drive bar sales.
Swing validates some of the elements uncovered in our market research as to what the new Atlanta diners are looking for. This serves as a true validation that the timing is right for the Zara Restaurant & Lounge concept.
Failed Restaurant Analysis: Mumbo JumboMumbo Jumbo was an Atlanta restaurant attraction in the downtown core, astrong competitor that was severely impacted by the patronage demise after 9/11. I also completed an analysis of this restaurant back in 1999 and compared it to this current analysis in 2003. Several factors led to closing of this restaurant:
Location: This was a very cosmopolitan restaurant located in a core business community. The restaurant was hidden in cross streets and away from the general street traffic. This was a destination restaurant and a secondary selection for the general customer base in this area.
Lesson Learned: As part of this analysis, we have determined that the downtown core is not a good fit for the Zara concept. We will limit our site selection to the core Midtown districtand the upper Downtown district. Midtown is Atlanta's major growth district and is developing the residential infrastructure in pace with the business infrastructure.
Customer Segment: Atlanta's downtown core is not ready for this type of restaurant. Atlanta's downtown core is a business district,and residential development for this area is at the Genesis state. The primary customer base is the business person and tourist. The largest percentage of this customer segment will be looking for a restaurant in which to conduct business or a family establishment; Mumbo Jumbo would not be a primary selection in either case.
Lesson Learned: Zara's target market demographics are perfectly in alignment with the Midtown profile. Midtown has a business core as well as a residential core. We will look to the business core for our primary daytime business, but to our residential core for our dinner and after-hours patronage. In addition, the business core will look to Zara as a place of socialization for dinner and after-hours unwinding. Mumbo Jumbo depended on the business segment for their lunch and dinner profits, and customerswho would travel from outside the downtown district to eat at the restaurant there was no static dinner segment.
Visibility: Hand-in-hand with location, this restaurant also suffered from poor visibility. In the downtown core a large percentage of business is from walk-in traffic. The business and tourist customers tend to select a restaurant from touring the area and accessibility. Mumbo Jumbo was situated on a cross street behind the main street.
Lesson Learned: Although being situated on a main street is not as key in the Midtown district, we will ensure that visibility is part of our site selection criteria. In addition, we will use signage and exterior dcor as means to attract customers and get noticed.
In all, this restaurant was a staple in Atlanta's downtown core for over 10 years, but key restaurant disciplines (Location, Customer Segment, Visibility) came back to hurt them as the economic climate changed.
Market Analysis Conclusion:At the end of the day, everyone that sells prepared meals in this district isa Zara competitor,because we all compete for the same home meal replacement dollar. However, there are two segments of the restaurant industry that are our main competition: the casual dining restaurantand the fine dining value restaurant.
So, if the food and service is better at a fine dining restaurant than a casual restaurant, but price has become a factor as a result of the economic turns, whereis a customermore likely to go?
There is no absolute answer to the question, but the solution is to deliver the best food at the best price with the highest level of service in one establishment. This is the very definition of value and the conceptat the heart of Zara's business model.
5.2 Marketing Strategy
Zara Restaurant & Lounge's Marketing strategy will be to promote our electric food, superior service, and exciting concepts to draw in the local repeat customers. Marketing initiatives will concentrate on the following:
Building and Signage: The most important Marketing tool that we have is the exterior of our building, and our new sign. We budgeted a great deal into the renovations and decor to generate the aesthetic appeal of Zara. See attached Logo and Web design.
Customer Service:In our years within the restaurant industry, customer service has always been the major draw for the dining clientele. Food and atmosphere is far out-shadowed by superior customer service that turns a new customer into a repeat customer.
Management will demand the wait-staff provide the very best in quality services to the customer, making certain that they are content and satisfied with their dining experience. Wait-staff are thoroughly trained, and every 90 days they undergo a performance appraisal. This is part of our Employee Manual, and Operations Manual guide.
Advertising and Promotion:Our Advertising Plan and media schedule call for targeting customers directly through local publications aimed at , respectively,singles, couples, and destination customers.
Management recognizes the key to success at this time of initial opening is extensive media promotion. This must be done aggressively in order to accomplish our service goals. A healthy budget is allocated for the first year. A primary part of the budget is allocated to create the media and customer buzz for the month prior to opening and the next three months after the grand opening. The full Marketing program is as follows:.
Media Objectives and Strategy:Establish our image as a unique Midtown restaurant with great service, value, and great food served in an eclectic atmosphere. We will maximize efficiency in the selection and scheduling of advertisements by:
Selecting primary business publications with high specific market penetration, using The Creative Loafing Dining Section, The Atlanta Journal Constitution, Atlanta City Search, and Social Diva, which all reach our targeted demographics.
Scheduling adequate frequency of ads to impact market with menu items and promotions.
Where possible, positioning advertisements in or near entertainment/food related editorial.
Redirecting customers to our websiteto register for upcoming functions, VIP lists, reservations, and flash media promotions.
Maximizing ad life with monthly and weekly publications.
Working with The Reynolds Group Media Co. (Zara Advisory Board), we will develop an advertising campaign built around our Zara Diner theme, menu offering, location, and decor. We will support this plan with ads that reinforce the Zara dining concept.
Additionally, we will develop a consistent reach and frequency throughout the year, targeting each specific customer segment within a five-mile radius, and new 'suburbanites,' who still appreciate in-town dining.
Promotional Campaign:The best way to reach our potential customers is to develop an intense advertising campaign promoting our Zara concept of "Spice of Life." In addition to standard advertising practices, we will gain considerable recognition through newspapers, newsletters and public announcements. Consumers will be encouraged to visit our website to be greeted with a flash media intro that highlights the restaurant, past happenings, upcoming attractions and our dynamic menu.
Our periodic customer surveys and weekly menu item sales evaluations will help us to understand what advertising is working and what is not; basically, who we are reaching. Our goal is to understand our customer, measure the success of our direct marketing and media activities, and redirect advertising as effectively as possible.
Publicity Strategy:Working with The Reynolds Group, Zara will focus on the following publicity strategies:
Develop a sustained public relations effort, with ongoing contact between key editors and top-level personnel at local dining publications.
Develop a regular and consistent package update program for the major target media, keeping key editors abreast of all new promotions, and menu introductions.
Establish contact with editorial staff for the purpose of being included in entertainment "round-ups"--product comparisons in dining publications and the local papers.
Produce a complete Zara Restaurant history and menu offering piece to be used as the primary public relations tool for all target media editorial contact. This will also be effective for inclusion in press kits.
Press Release/Grand Opening: Zara Restaurant will release a series of press releases on the Grand opening.
Editorial Visitation: Leading up to the Grand Opening, and over the first 6 months of operations, we will invite the most influential reporters and editors from all local publications to Zara Restaurant in order to evaluate our menu, service, and atmosphere.
Publicity Revenues: We anticipate at least 10% of our annual sales will be generated directly from our publicity. A full media kit will besent toall local publications, and releases on new menu items will be made monthly.
Community: Zara will look for key opportunities to pair with local community development organizations and radio stations to interface with our customers. We will continually look for local community programs in whichwe can participate, in order to better our community, and give something back.
5.2.1 Marketing Program
In line with our Marketing strategy, we will employ three different marketing tactics to increase customer awareness of Zara: In-Restaurant Marketing, Public Relations Marketing, and Media Marketing. Our most important tactic will be word-of-mouth/in-restaurant marketing. This will be by far the cheapest and most effective of our marketing programs.
Word-of-mouth/In-Restaurant Marketing Restaurant Night:Every first Monday of the quarter,we will have a special evening for restaurant people. A perfect night for the local area's restaurant owners, chefsand staff to get together to discuss the market and food trends, and possible Co-op efforts to promote the Midtown district. This is not a conflict of interest, it is an effort to increase visibility and patronage across the Midtown district. We will also invite the Midtown Alliance committee for their participation.
Monthly Dating Connection: With the increasing appeal of Internet andspeed dating, the restaurant will offer a monthly dating night. In addition to food and beverages, customers can choose from an array ofdating packages up for auction.
Wait Area Marketing: Wait staff will service appetizers to customers waiting to be seated or on the wait list.
Live Entertainment parties
Special Events
Valentine's Day
Zara Halloween Masquerade party
Wine tasting weekend
New Year's Eve party
Public Relations Marketing Georgia Hospitality & Tourism V.I.P. Party: We will host a V.I.P. Dinner before the 'Grand Opening.' This will serve the dual purpose of training our staff and introducing ourselves to the community. The list of individuals we will invite comes from the Chamber of Commerce, Georgia Hospitality & Tourism, and Midtown Development group. We want their full committment to the restaurant to draw the tourist dollars.
Critics' Choice: Prior to the Grand Opening there will be two preliminary parties catering to the Media and Critics community. We will encourage themedia and restaurant critics to meet at the restaurant and review the decor, service and food. This will be a preliminary review, where we will consider constructive input to make minor revisions prior to the true Grand Opening. This initial review and input will give critics and media commentors a stake in Zara's success, through their contributions to the final design.
Brochures: Make a brochure for the in-town hotels and business establishments to provide to their guests and staff, containing interior pictures of our restaurant, menus and prices.
Government Relations: There are several Government offices in the Midtown/Downtown area. We will approach them to cater business luncheons and private functions. This will offer ushigher visibility for future functions and community events. Word-of-mouth referral is very powerful and particularly amongst the business community.
Private Functions: Target marketing to businesses for regular business lunch and dinner entertaining, and private functions.
Media Marketing Newspaper campaign: A very targeted media campaign to obtain featured articles about the restaurant in their Living, Entertainment and Dining segments. Notices of all live entertainment segments and special features will be posted to local newspapers' calendar announcements.
Restaurant and Special Events Website: We havecontracted withlocal design teamsto deliver a high-quality, navigable,constantly updated website.
Media Relations: Several media relations teams will be utilized to market the Restaurant. Social Diva and Green Frog are two media companies we will utilize for media relations. Both companies have an insightful presence and connection with our target market.
Billboard Advertisement:One month prior tothe opening, distinct billboard ads will advertise the launch of the Restaurant.
Inner & Outer City Marketing: We will budget to attract customers from the suburbs.
5.3 Sales Strategy
Our strategy is simple: we intend to succeed by givingour customersa combination ofdelicious and interesting food in an appealing environment, with excellent customer service, whether on their first visit or their hundredth.
Our marketingstrategies are designed to get critics and initial customers into our doors. Our sales strategies must take the next step and encourage customers to become repeat customers, and to tell all their friends and acquaintances about the great experiences they just had at Zara.
New restaurants oftenmake one of two mistakes: they are unprepared or underprepared for opening, and initial poor service, speed,or quality discourages customers from returning, or they spend all of their efforts at opening, and are unable to maintain the initial quality customers expect on return visits, decreasing word of mouth advertising and leading to poor revenues.
Zara's sales strategy requires consistently high quality food, service, speed, and atmosphere. We can accomplish this by:
Hiring employees who genuinely enjoy their jobs and appreciate Zara's unique offerings
Continually assessing the quality of all aspects mentioned above, and immediately addressing any problems
Interacting with our customers personally, so they know that their feedbackgoes directly to theowners
Evaluating food choices for popularity, and keeping favorites on the menu as we rotate seasonal foods and specials
5.3.1 Sales Forecast
The following sales graph is based on first year start-up estimates only. We anticipate that the business will not be at full operating capacity until the sixth month of operations. This is due to the competitive nature of the market and existing customer loyalty. All factors governing our sales progress are outlined below in the Important Assumptions section.
Our sales forecasts for years 3 through 5 are very conservative, compared to industry standard growth rates. (See Ratios table for comparisons.)
Although we hope to do catering for local businesses and government offices with time, we will insist on payment at delivery - we will not sell on credit.
Table: Sales Forecast
Sales Forecast
Total Sales Food$853,595 $959,047 $1,006,999 $1,047,279 $1,089,170
Total Sales Bar/Beverages$220,174 $252,041 $272,204 $293,981 $317,499
Other$0 $0 $0 $0 $0
Total Sales$1,073,769 $1,211,088 $1,279,204 $1,341,260 $1,406,670
Direct Cost of Sales Year 1 Year 2 Year 3 Year 4 Year 5
Total Cost of Sales: Food$298,758 $322,240 $329,289 $336,048 $342,762
Total Cost of Sales: Bar/Beverages$72,657 $76,167 $77,687 $79,228 $80,835
Subtotal Direct Cost of Sales$371,416 $398,407 $406,976 $415,276 $423,597
Chart: Sales Monthly
Chart: Sales by Year
5.4 Milestones
ThefollowingMilestones tablelists important business milestones, with dates and managers in charge of each deliverable. The milestone schedule indicates our emphasis on planning and managing the details.
Table: Milestones
MilestoneStart DateEnd DateBudgetManagerDepartment
Engage Restaurant Consulting Firm7/31/20047/31/2004$0 Alex/PeterOwners
Site Selection9/8/20049/29/2004$0 Alex/R.ShaferConsultant
Final Restaurant Location Approved9/30/200410/1/2004$0 Alex/PeterOwners
Investor Finance Phase8/22/200410/22/2004$0 AlexOwners
Investor Capital Secured10/27/200410/27/2004$0 AlexOwners
Investor Partnership LLC Formed10/28/200410/31/2004$0 S. HollierLegal
Interview for Construction Team10/28/200411/3/2004$0 AlexOwners
Recruit Chef (Equity Partner)10/28/200411/14/2004$0 Alex/PeterOwners
Receive Final Contractor Bids11/4/200411/17/2004$0 PeterOwner
Construction Budget Approved11/19/200411/19/2004$0 Alex/PeterOwners
Secured SBA Loan11/1/200411/21/2004$0 Alex/PeterOwners
Hire Restaurant Architect11/20/200411/21/2004$0 Alex/PeterOwners
Hire Interior Design Firm11/20/200411/21/2004$0 Alex/PeterOwners
Hire Kitchen Engineer11/20/200411/21/2004$0 Alex/PeterOwners
Hire General Contractor11/20/200411/21/2004$0 Alex/PeterOwners
Finalize Chef Partnership11/15/200411/21/2004$0 S. HollierLegal
Construction Project Kickoff11/24/200411/24/2004$0 Contractor AGen. Contractor
Finalize Lease Holder Budget11/24/200411/27/2004$0 Alex/PeterOwners
Finalize Lease11/28/200411/28/2004$0 R. ShaferConsultants
Restaurant Design Complete11/25/200412/12/2004$0 Contractor XDesign Contract
Interior Design Complete11/25/200412/12/2004$0 Contractor YDesign Contract
Kitchen Design Complete11/25/200412/12/2004$0 Contractor ZDesign Contract
Restaurant Opening Date Approved12/15/200412/15/2004$0 Alex/PeterOwners
Finalize Menu & Wine Selection11/21/200412/15/2004$0 Chef/PeterKitchen/Owner
Media Plan Review12/15/200412/19/2004$0 Alex/M.ZimmPR Marketing
Apply for Liquor License12/15/200412/19/2004$0 Alex/S.HollierOwner/Legal
Apply for Construction Permit12/15/200412/19/2004$0 Contractor AGen. Contractor
Submit Kitchen Plan for Approval12/15/200412/19/2004$0 Contractor ZDesign Contract
Board of Health Approval for Kitchen12/29/20041/31/2005$0 BoardCity
Liquor License Approved12/29/20041/31/2005$0 BoardCity
Architect Review Board Approval12/29/20041/31/2005$0 Contractor XDesign Contract
Corporate Brochure2/2/20052/13/2005$0 M.ZimmermanPR Marketing
Review Business & Marketing Plan3/1/20053/5/2005$0 Alex/PeterOwners
Launch Zara Website3/15/20053/15/2005$0 AlexMedia Marketing
Order Kitchen Equipment2/1/20053/20/2005$0 Alex/PeterOwners
Order Restaurant/Lounge Furniture2/2/20053/20/2005$0 Alex/PeterOwners
Order Office Furniture & Supplies2/2/20053/20/2005$0 Alex/PeterOwners
Business & Marketing Plan Review4/26/20054/30/2005$0 Alex/PeterOwners
PR/Media Advertising (Phase 1)5/1/20055/15/2005$0 M.ZimmermanPR Marketing
Production and Completion of Menus5/5/20055/17/2005$0 Chef/PeterKitchen/Owner
Construction of Restaurant2/2/20055/20/2005$0 Contractor AGen. Contractor
Pre-Opening of Zara Restaurant5/24/20055/24/2005$0 Alex/PeterOwners
Employee Training (Phase 1)5/18/20055/24/2005$0 Chef/PeterKitchen/Owner
Wine Class for Employees (Phase 1)5/18/20055/24/2005$0 PeterWine Distributor
Critics' Choice VIP Party5/25/20055/26/2005$0 M.ZimmermanPR Marketing
Final Construction Punch Out5/21/20055/28/2005$0 Contractor AGen. Contractor
Restaurant Revisions5/27/20056/2/2005$0 Alex/PeterOwners
Employee Training (Phase 2)5/27/20056/2/2005$0 Chef/PeterKitchen/Owner
Wine Class for Employees (Phase 2)5/27/20056/2/2005$0 PeterWine Distributor
Grand Opening of Fusion Restaurant6/3/20056/3/2005$0 Alex/PeterOwners
VIP Party 16/3/20056/3/2005$0 M.ZimmermanPR Marketing
VIP Party 26/4/20056/4/2005$0 M.ZimmermanPR Marketing
Web Site & E-Mail Media Launch5/1/20056/5/2005$0 AlexMedia Marketing
General Public Opening6/5/20056/5/2005$0 Alex/PeterOwners
Launch 30-Day Grand Opening5/1/20056/5/2005$0 M.ZimmermanPR Marketing
PR/Media Advertising (Phase 2)6/1/20056/14/2005$0 AlexPR Marketing
Business & Marketing Plan Review7/5/20057/9/2005$0 Alex/PeterOwners
Business & Marketing Plan Review8/2/20058/6/2005$0 Alex/PeterOwners
Update Brochure8/2/20058/13/2005$0 AlexMedia Marketing
Direct Mail8/16/20058/16/2005$0 AlexMedia Marketing
Advertising (Phase 3)9/1/20059/15/2005$0 M.ZimmermanPR Marketing
Zara Masquerade Party10/31/200510/31/2005$0 M.ZimmermanPR Marketing
Direct Mail11/1/200511/1/2005$0 AlexMedia Marketing
New Corporate Accounts (5)9/1/200511/1/2005$0 Zander/PeterOwners
Advertising (Phase 4)11/15/200511/19/2005$0 M.ZimmermanPR Marketing
Advertising (Phase 5)12/15/200512/30/2005$0 M.ZimmermanPR Marketing
Zara New Year's Party12/20/20051/1/2006$0 M.ZimmermanPR Marketing
6.0 Web Plan Summary
Zara Restaurant& Lounge will have a dedicatedwebsite. It will be the virtual business card and portfolio for the company, simple, contemporary and well designed. Our site will offer our menus, prices,reviews and happenings at Zara. We will also have a monthly Paparazzi Review about what did happen at Zara toget new customers interested inour restaurant.
Our website will be used to try out new offers, starting withan on-line order feature for the Sunday Market Brunch, and expanding if the concept gains favor with our customers. A customer will be able to order a selection for pickup usinga credit card. Selections will be based on our pre-packaged meals available during the Sunday Market Brunch. This is also a potential for customers needing catering.
The website will include email capabilities and online reservations and special events scheduling.
7.0 Management Summary
The strength of our management staff positions us for success. We have assembled a team that embraces different disciplines, accomplished professionals with expertise in all areas of the business, including marketing and restaurant management.
The owners, Zander Hunte (Managing Partner) and Peter Smith (Executive Chef), haveconsiderable experience in the restaurant industry.
In Year 2, we will hire a General Manager to handle the day-to-day Restaurant management. This will assist Zara's Restaurant & Lounge to grow even further.
You can't build investor confidence based on what you will do, but you can inspire confidence based on what you have done. Attached is the portfolio of past success. This Zara Management team has deep roots in the restaurant segment, and have the practical experience to make this venture another great success.
7.1 Management Team
Zara Restaurant & Lounge, with more than 48 years of experience between the key officers, understands the importance of a strong management team. The strength of our management staff positions us for success. Day to day operational management will be conducted by Alex Hunte and Peter Smith, as hands on managers. They will advised and supported by their Advisory Board.
Zara's Advisory Board
Stephen Hollier of Hollier Collier & Loewenthal: Corporate Attorney
John Katz of SS&G Financial Services: CPA
Robert Shaefer of Shafer Hospitality Services: Restaurant Consultant
Mary Zimmerman of The Zimmerman Group: Media & Public Relations consultant
Ownership & Management
Together, Alex Hunte and Peter Smith bring over 20 years of experience in the restaurant industry to their new joint venture.
Alex Hunte: Managing Partner (Operations, Marketing, Financial and Business Development)
Mr. Hunte brings to Zara an accomplished restaurant background, exceptional business acumen, and a lifetime passion for the restaurant experience. Alex has over 17 years of business management in the Information Technology industry. Like IT, successful ventures in the restaurant industry must balance capitalizing on new trendswith continual quality assessment. Alex'sunderstanding ofday-to-day cash flow planningand staff management will be critical to Zara's financial success.
Mr. Huntehas a background in International Business Management and Business Start-ups, and is certified in Restaurant and Hotel Management. As co-owner, Alex Hunte is responsible for overall direction and operational management. Mr. Hunte is a strong business leader responsible for strategic planning and continued growth of restaurant services and business development. In addition, Alexwill bethe management lead for all public relations, financial and investor services.
Degrees, Certifications, and Professional Affiliations:
MBA in International Business Management
B.S. in Computer Science
Certified in Restaurant & Hotel Management from Ryerson University
PMP (Project Management Professional) certification
Member of the Midtown Alliance
Business partner member of the National Restaurant Association.
Peter Smith: Managing Partner (Executive Chef and Restaurant Operations)
Mr. Smith is an accomplished restaurateur, having owned several full-service restaurants. Mr. Smith is responsible for the concept and the daily operations management, with yearly sales targets of $7 million.
In addition, Peter is the owner of Bauhaus Bar and Nightclub, and former owner of Myth Restaurant, Ouzeri, and Kapilyo Restaurant, all financial and critical successes. Mr. Smith is also an international restaurant consultant for top international organizations. Mr. Smith's Contracting responsibilities for Zara included logistics, Site and Lease Negotiations, Concept Definition, Start-Up and Financial forecast, Menu and Operations Management, as well as Implementation and Launch Management.
With a degree in Economics and an accomplished career, Mr. Smith contributes the experience of his past successes, and is charged with leading the Restaurant Operations, Staff Selection, Menu Definition and Training initiatives for Zara Restaurant & Lounge.
Managing Partner Responsibilities
In addition to the management of day to day operations, both managers, as principals within the company, will oversee menu development, purchasing, portioning, pricing and inventory control, including approval of all financial obligations of the company. They will plan, develop, and establish customer service policies and objectives,and write, explain, and enforce an employee's manual for all employee-related policies.
Responsibilities for hiring and firing employees lie solely withthe two operations managers, and any decisions in these areas will be made jointly.
They will: Manage working capital, including receivables, inventory, cash and marketable securities.
Perform financial forecasting, including capital budgeting, cash flow analysis, pro forma financial statements, and external financing requirements.
Prepare financial analyses of operations for guiding management, including reports which outline the company's income, expenses, and earnings.
Direct preparation of budgets and financial forecasts and arrange for audits of company's accounts.
7.2 Personnel Plan
We believe the personnel plan is in good proportion to the size of the restaurant and projected revenues.The staff will include 13 full-time employees and8 part-time employees, who will work a total of 754 manhours per week and generate an average monthly gross payroll of $27,308 for the first year in business. The estimated gross annual payroll of $399,588 (including Partner Salaries)is 37% of total sales.
Wage salaries for service personnel (waitstaff, busboys, bartenders) do not include anticipated tips. With average tipping rates for the Atlanta, Georgia area, and our menu prices, service employees should average at least twice the minimum wage in any given shift. Skilled waitresses and bartenders on weekends and evenings will make substantially more.
Kitchen:TheExecutive Chef will be assisted by:
An Assistant Cheffrom a national search(1).
A Sou chef with considerable experience in different restaurants (1).
Cooks thatwork directly withPeter or the sous chef (2).
Prep cooks/dishwasher (2).
People cleaning the restaurant (2).
Restaurant Operations:AlexHunte will manage theFinancial Management, Bookkeeping, PR/Media Advertising, and Investor Services.Alex Hunte will alsomanage the daily Restaurant Operations.
Peter Smith willbe the Restaurant Manager. He will be the primary responsible for daily Restaurant Operations, taking care of Wait and Bar Staff.Peter will also take lead as the Executive Chef working with the Head Chef.
To helpPeter, he will have servers that will work as captains' (these peoplehave experience in managing, waiting tables and bartending) and take care of service and make sure the restaurant is in excellent shape (2).
Servers that work part time (4).
Full-time bartender (1).
Part-time bartender (1).
Full-time busboy (2).
Part-time busboy (1).
Administrative Salaries (Partners):
Zander Hunte: $ 48,000 per year
Peter Smith $ 32,160 per year
Table: Personnel
Personnel Plan
General Manager (Year 2+)$0 $0 $28,000 $28,500 $29,000
Partner/Manager$48,000 $48,000 $48,000 $48,000 $48,000
Partner/Asst. Manager/Exec. Chef$32,160 $32,160 $32,160 $32,160 $32,160
Hostess (Full Time)$24,000 $24,500 $25,000 $25,500 $26,000
Hostess (Part Time)$13,200 $13,500 $14,000 $14,300 $14,800
Waitperson 1$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 2$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 3$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 4$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 5$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 6$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 7$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 8$5,640 $5,640 $5,640 $5,640 $5,640
Waitperson 9$5,640 $5,640 $5,640 $5,640 $5,640
Wait/Barperson$10,440 $10,440 $10,440 $10,440 $10,440
Bartender 1$14,400 $14,400 $14,400 $14,400 $14,400
Bartender 2$7,200 $7,500 $7,500 $7,500 $7,600
Busboy 1$9,120 $9,120 $9,120 $9,120 $9,120
Busboy 2$11,760 $11,760 $11,760 $11,760 $11,760
Busboy 3$7,200 $7,200 $7,200 $7,200 $7,200
Assistant Chef$44,400 $44,400 $44,400 $44,400 $44,400
Sous Chef$32,400 $32,400 $32,400 $32,400 $32,400
Cook 1$24,240 $24,240 $24,240 $24,240 $24,240
Cook 2$18,960 $18,960 $18,960 $18,960 $18,960
Prep Cook/Dishwasher$12,288 $12,288 $12,288 $12,288 $12,288
Prep Cook/Dishwasher/Cleaning$12,960 $12,960 $12,960 $12,960 $12,960
Dishwasher 1$8,640 $8,640 $8,640 $8,640 $8,640
Dishwasher 2$5,700 $5,800 $5,800 $5,800 $5,800
Cleaning/Dishwasher$11,760 $11,760 $11,800 $11,800 $11,800
Open$0 $0 $0 $0 $0
Total People2024 25 25 25
Total Payroll$399,588 $400,788 $429,828 $431,128 $432,728
8.0 Financial Plan
Zara Restaurant & Lounge financial model is based on a business concept to "Plan for the Worst, but Manage for the Best." We have approached the financial plan as follows:
The First Year projections anticipates a below average sales volume, below average seat turn, and above average food/beverage cost. This position will help us ensure sufficient financial planning to accommodate a reasonable ramp-up period, and business success, also ensuring that we do not enter this venture under-capitalized.
Financial Pro Forma
In addition to the $110,000 of owner investment and $130,000 in grant monies, Zara is seeking $300,000 in long-term loans and $200,000 in investment for renovations, furniture, kitchen equipment, liquor license, food & restaurant supplies, legal fees, working capital, marketing and personnel.
The Financial Plan includes:
Important Assumptions
Risk Analysis & Mitigation Plan
Sales Forecast (5.3.1, above)
Break Even Analysis
Profit and Loss Statement
Cash Flow Statement
Balance Sheet
8.1 Investment Opportunities
The Zara Investment Program allocates equity position of 20% for a total of $200,000 in investor capital. The Investment structure is as follows:
Investment Opportunity
Total Investor Funding Opportunity:$200,000
Minimum Investment Amount$15,000
Investment Term (Investor Selection)3-5 Years
Total Equity Offering (1% per $15,000 Investment)20% Max
Starting Year 2
Silver: Projected Annual IRR on Investment of $15,000 - $49,000 10%
Gold: Projected Annual IRR on Investment of $50,000 - $99,000 11%
Platinum: Projected Annual IRR on Investment of $100,000 or more12% + Residuals
Investor Payback Program
Each Investor will receive equity shares as a part owner, with a non-managerial interest in the Restaurant. Based on financial estimates, the maximum annual IRR is 12%. Over and above the interest and principal repayment, Investors contributing $100,000 or more will receive residuals for the life of the business as a bonus incentive.
As with our investors, our primary goal is to earn real profits and not Paper Profits'. As such we will focus on expediting returns to investors where possible. Our existing payback structure will begin paying dividend every quarter, starting in Year 2 of business operations. Investors will receive quarterly interest and annual principal reduction payments over the full term of the investment. Payback to Financial and Private investors will take priority over any profit shares to the owners, Alex Hunte and Peter Smith.
8.2 Important Assumptions
The financial plan depends on important assumptions, most of which are reflected in the financial statements that follow. We have been cautious with our projections, and incorporate a mitigation for all manageable risks. The key underlying assumptions are:
EconomySlow Economic Recovery. We anticipate a slow-growth economy, recovering from an economic recession.
Business Growth
Annual Growth Rate Percentage. We anticipate modest growth over the coming years. The financials account for the following growth projections:
Year 2: 6% Year 4: 4%
Year 3: 5% Year 5: 4%
Weekly Sales Variance. Saturday will typically be our best sales for the week. The sales volume for all other days is represented as a percentage relative to Saturday. Therefore our weekly sales will vary as follows:
Monday: 55%Thursday: 95%
Tuesday: 60%Friday: 90%
Wednesday: 75%Saturday: 100%
Seasonal Sales Variance. In Atlanta, October through the late seasonis the most productive sales period, while the summer months tend to be the slowest restaurant period. This trend is reflected in the financials though a seasonal variance as follows (where October is targeted to be our most successful sales month):
June: 70%October: 100%February: 95%
July: 75%November: 95%March: 85%
August: 80%December: 95%April: 90%
September: 85%January: 85%May: 90%
Industry & Start-UpFiscal Year-1 Ramp-up. Our experience in the industry confirms a longer ramp-up stage for restaurants over other retail/service businesses. Our Annual Sales Growthis based on attaining the following seating capacity percentage per dining period:
Year 1: After-Hours = 53%, Lunch = 70%, Dinner = 88%
Year 2: After-Hours = 70%, Lunch = 82%, Dinner = 100% (implied wait period)
Year 3: After-Hours = 80%, Lunch = 87%, Dinner = 100% (implied wait period)
Six-Month Start-Up Stage. As a new restaurant entry to the Midtown market, the ramp-up in customer draw is expected to extend over 6 months. This is reflected in a higher than average monthly sales variance shown as follows (Worst-case / Expected-case):
Month 1: 32% / 51% Month 4: 64% / 75%
Month 2: 41% / 58% Month 5: 80% / 90%
Month 3: 52% / 66% Month 6: 90% / 92%
Market Analysis findings are static. We assume that there are no unforeseen changes in findings outlined in the Market Analysis.
Pricing & Cost ControlCompetitive Pricing Model. Revenue calculations are based upon competitive price comparisons and established menu values in the current marketplace. The following are baseline assumptions on Average Check Totals, and Average Seat Turns:
Daily average for lunch spending is $10.50 per person, dinner at $27.50 per person; and $17.50 per person for After-Hours dining (All check totals include Beverages, but not Bar). Seat Turn averages are modestly estimated at:
Year 1: After-Hours = 0.7, Lunch = 1.0, Dinner = 1.0
Year 2: After-Hours = 0.7, Lunch = 1.0, Dinner = 1.0
Year 3: After-Hours = 1.0, Lunch = 1.0, Dinner = 1.25
Cost Control. Cost of goods sold have been calculated as a percentage of sales and will be monitored on a daily basis in order to keep Cost of Food within the range of 31 - 33%, Bar Costs within 28 - 31%, and Cost of Beverages (Non Alcohol)below 9%. With a focus on Cost Control, we anticipate 6 months to fine tune the restaurant operations and manage our costs within the defined tolerance range.
Inventory turnover and Accounts Payable. Accounts receivable turnover is calculated to be 0 days, as payment is rendered with service. Inventory is turned on a 7 day cycle as inventory is used daily within all categories, and accounts payable are projected to be 30 days.
8.2.1 Risk Analysis/Mitigation
1. How do we allow an adequate startup period and capital to launch the concept and grow our customer base in a competitive sector?Our financial plan is budgeted to support the Worst-Case business scenario. We addressed the financial risk as follows:
We looked at our monthly break-even.
We calculated worst-case monthly financial shortfall based on the ramp-up sales percentages outlined in our financial assumptions.
We budgeted operational shortfall in an operational contingency budget that we will utilize if the need arises.
2. How do we ensure we have addressed all resource gaps, and have the right industry knowledge?Owners Alex Hunte and Peter Smith have a combined 20 years of Restaurant Management, Operations and Business Management Experience.
The Financial Plan incorporates a budget for an Atlanta Restaurant Consulting group. Their services are budgeted for the business start-up analysis, rollout, and on retainer for 4 months of business operations. The selected firm has experience with over 72 Restaurant launches, specializing in the Atlanta Market.
We will be recruiting a seasoned chef (national search) whose style is in accord with the Restaurant concept and our market segment. We will be offering an equity interest to our select Chef to maintain the industry knowledge.
Our Accounting service will be contracted to a firm specializing in Restaurant accounting.
3. The current Economic slowdown and recovery state was a key consideration in our restaurant concept. How do we manage a successful restaurant in current market conditions?
Our original effort was to open a restaurant twice the proposed size. As we are in the midst of an economic recovery, we have scaled back the size to reduce business overhead, startup requirements, and business operating capital.
Another mitigation has been our overall Restaurant concept. We have the menu priced at a mid-tier level with no entre over $20. In addition, we have an extended Tapas and Appetizer selection priced between $3.50 - $9.50, allowing budget dining in a distinguished restaurant.
4. How do weconfirm that our Funding Requirement is sufficient?Peter Smith has an extensive background in restaurant startup. He is currently an International Consultant for various restaurant ventures, and we will use his expertisein past projects as a comparative basis.
We have leveraged our membership with the National Restaurant Association to look at industry averages for this market segment for Restaurant startup and Operations. Additionally, we included a contingency buffer in the financial estimates to account for any potential cost variance.
We have worked with our Restaurant Consulting firm to validate our cost estimates to their industry knowledge.
5. How do we know we have selected the right location for this concept?
Again we will draw on the Consulting group that has the expertise in site selection and lease negotiation. In all, thereare no guarantees with location, but we took a very objective approach with our concept. Instead of going in with a predefined business concept, we let the Market Analysis define the need. Based on the results, the Zara Restaurant concept was formed specific to Midtown Atlanta. Site selection was based on space, visibility, andfunctionality; the city grant award confirmed our decision.
6. What if there is an additional need for Business Capital after the Restaurant has exhausted its 6-month buffer?Our intent is to be a self-sufficient business far in advance of the 6-month probation period. But as we are considering all contingencies, we have looked at this risk. We have accounted for an operational contingency budget that will be used to supplement any slow periods. Our next step would be to approach our private investors for capital by extending their return on investment. We would also look to the partners' capital reserves as another source of funds.
Table: General Assumptions
General Assumptions
Plan Month12345
Current Interest Rate6.00% 6.00% 6.00% 6.00% 6.00%
Long-term Interest Rate7.00% 7.00% 7.00% 7.00% 7.00%
Tax Rate30.00% 30.00% 30.00% 30.00% 30.00%
Other0 0 0 0 0
8.3 Profit and Loss Statement
The most important assumption in the Projected Profit and Loss statement is the gross margin. We show an adjustment increase in Year 2 as we exit our start-up phase of the business and move into our expected annual sales forecast.
This transition shows the restaurant managing through its start-up period, and gaining efficiency and customer loyalty. In summary, the restaurant will develop its customer base and reputation and the growth will pick up more rapidly towards the second and third years of business. Month-by-month assumptions for Profit and Loss are included in the appendices.
Chart: Profit Monthly
Chart: Profit Yearly
Chart: Gross Margin Monthly
Chart: Gross Margin Yearly
Table: Profit and Loss
Pro Forma Profit and Loss
Sales$1,073,769 $1,211,088 $1,279,204 $1,341,260 $1,406,670
Direct Cost of Sales$371,416 $398,407 $406,976 $415,276 $423,597
Total Cost of Sales$371,416 $398,407 $406,976 $415,276 $423,597
Gross Margin$702,353 $812,681 $872,228 $925,984 $983,072
Gross Margin %65.41% 67.10% 68.19% 69.04% 69.89%
Payroll$399,588 $400,788 $429,828 $431,128 $432,728
Marketing/Promotion$18,656 $22,000 $25,000 $15,000 $15,000
Depreciation$6,500 $6,500 $6,500 $6,500 $6,500
Leased Equipment$12,000 $12,000 $12,000 $12,000 $12,000
Accounting/Payroll Processing$6,600 $6,600 $6,600 $6,600 $6,600
Legal Retainer Fees$2,400 $2,400 $2,400 $2,400 $2,400
Business Licenses & Permits$6,000 $6,000 $6,000 $6,000 $6,000
Credit Card Expense$18,576 $19,983 $21,107 $22,131 $23,210
Bank Fees$1,200 $1,200 $1,200 $1,200 $1,200
Music & Entertainment$3,744 $3,744 $3,744 $3,744 $3,744
Training / Employee Retention Programs$0 $5,008 $6,008 $6,008 $6,008
Repairs & Maintenance$9,000 $9,000 $9,000 $9,000 $9,000
Utility Services (Gas/Electric/Water/Sewer)$24,996 $26,496 $27,821 $28,933 $30,091
Telephone/Communication Expense$1,800 $1,800 $1,800 $1,800 $1,800
Insurance: Fire/Theft/Liability/Liquor/Product$20,400 $21,624 $22,705 $23,613 $24,558
Restaurant Occupancy Cost (Lease)$75,000 $77,250 $79,568 $81,955 $84,413
Payroll Taxes (FICA/FUTA/SUTA) & Employee Benefits$0 $0 $0 $0 $0
Exterminator/Trash Removal$4,800 $4,800 $4,800 $4,800 $4,800
Dishware/Uniforms/Cleaning Supplies/Decor$11,760 $12,466 $13,089 $13,612 $14,157
Printing/Paper/Postage/Subscriptions$9,156 $9,500 $9,500 $9,500 $9,500
Facility (Exterior Cleaning/Grease Trap/Hood/Windows,etc.)$3,333 $3,640 $3,640 $3,640 $3,640
R&D Meals$2,200 $2,400 $2,400 $2,400 $2,400
General Business Comps$12,400 $22,850 $23,125 $23,125 $23,125
Owner Comps$2,124 $2,124 $2,124 $2,124 $2,124
Other Expenses (ComAreaMaint, etc.)$4,200 $4,200 $4,200 $4,200 $4,200
Total Operating Expenses$656,433 $684,372 $724,158 $721,414 $729,198
Profit Before Interest and Taxes$45,920 $128,309 $148,070 $204,571 $253,875
EBITDA$52,420 $134,809 $154,570 $211,071 $260,375
Interest Expense$19,189 $15,984 $12,640 $9,296 $5,952
Taxes Incurred$8,020 $33,698 $40,629 $58,582 $74,377
Net Profit$18,712 $78,628 $94,801 $136,692 $173,546
Net Profit/Sales1.74% 6.49% 7.41% 10.19% 12.34%
8.4 Break-even Analysis
For our First Year Break-Even Analysis, we have an average running fixed costs of $60,230 per month which includes our full payroll, rent, and utilities, and an estimation of other running costs.With direct cost of goods (inventory, in this plan) at 35% of sales, our monthly break-even point is $92,081. We will surpass our break-even point in October of our first year.As we exit the start-up phase of the business and focus on cost control, we willdrive the Cost of Goods Sold (COGS) down, dropping our break-even value, and increasing our Gross Margin.
Table: Break-even Analysis
Break-even Analysis
Monthly Revenue Break-even$83,630
Assumptions:
Average Percent Variable Cost35%
Estimated Monthly Fixed Cost$54,703
Chart: Break-even Analysis
8.5 Cash Flow Statement
The cash flow depends on assumptions for inventory turnover and payment days. We have no sales on credit, so our cash flow does not track accounts receivable. Our projected same-day collection is critical, and is reasonable and customary in the restaurant industry. We do not expect to need any additional financial support, even when we reach the less profitable months, as the downturns are incorporated into the monthly revenue variance figures. Month-by-month assumptions for projected cash flow are included in the appendices.
Chart: Cash
Table: Cash Flow
Pro Forma Cash Flow
Cash Received
Cash from Operations
Cash Sales$1,073,769 $1,211,088 $1,279,204 $1,341,260 $1,406,670
Subtotal Cash from Operations$1,073,769 $1,211,088 $1,279,204 $1,341,260 $1,406,670
Additional Cash Received
Sales Tax, VAT, HST/GST Received$0 $0 $0 $0 $0
New Current Borrowing$0 $0 $0 $0 $0
New Other Liabilities (interest-free)$0 $0 $0 $0 $0
New Long-term Liabilities$0 $0 $0 $0 $0
Sales of Other Current Assets$0 $0 $0 $0 $0
Sales of Long-term Assets$0 $0 $0 $0 $0
New Investment Received$0 $0 $0 $0 $0
Subtotal Cash Received$1,073,769 $1,211,088 $1,279,204 $1,341,260 $1,406,670
Expenditures Year 1 Year 2 Year 3 Year 4 Year 5
Expenditures from Operations
Cash Spending$399,588 $400,788 $429,828 $431,128 $432,728
Bill Payments$601,114 $724,989 $745,324 $765,976 $792,442
Subtotal Spent on Operations$1,000,702 $1,125,777 $1,175,152 $1,197,104 $1,225,170
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out$0 $0 $0 $0 $0
Principal Repayment of Current Borrowing$0 $0 $0 $0 $0
Other Liabilities Principal Repayment$0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment$47,772 $47,772 $47,772 $47,772 $47,772
Purchase Other Current Assets$0 $0 $0 $0 $0
Purchase Long-term Assets$0 $0 $0 $0 $0
Dividends$0 $20,000 $10,000 $10,000 $15,000
Subtotal Cash Spent$1,048,474 $1,193,549 $1,232,924 $1,254,876 $1,287,942
Net Cash Flow$25,295 $17,539 $46,280 $86,384 $118,727
Cash Balance$172,276 $189,815 $236,095 $322,479 $441,206
8.6 Balance Sheet Statement
The projected Balance Sheet is quite solid. We do not anticipate difficulty meeting our debt obligations based on achieving the specific goals outlined in this plan. On a linear projection, Zara Restaurant & Loungehas a positive Net Worth beginning in Year 3.
Table: Balance Sheet
Pro Forma Balance Sheet
Current Assets
Cash$172,276 $189,815 $236,095 $322,479 $441,206
Inventory$37,839 $39,175 $38,109 $38,843 $39,608
Other Current Assets$73,311 $73,311 $73,311 $73,311 $73,311
Total Current Assets$283,426 $302,300 $347,514 $434,633 $554,125
Long-term Assets
Long-term Assets$65,000 $65,000 $65,000 $65,000 $65,000
Accumulated Depreciation$6,500 $13,000 $19,500 $26,000 $32,500
Total Long-term Assets$58,500 $52,000 $45,500 $39,000 $32,500
Total Assets$341,926 $354,300 $393,014 $473,633 $586,625
Liabilities and Capital Year 1 Year 2 Year 3 Year 4 Year 5
Current Liabilities
Accounts Payable$58,194 $59,713 $61,398 $63,097 $65,315
Current Borrowing$0 $0 $0 $0 $0
Other Current Liabilities$0 $0 $0 $0 $0
Subtotal Current Liabilities$58,194 $59,713 $61,398 $63,097 $65,315
Long-term Liabilities$252,228 $204,456 $156,684 $108,912 $61,140
Total Liabilities$310,422 $264,169 $218,082 $172,009 $126,455
Paid-in Capital$440,000 $440,000 $440,000 $440,000 $440,000
Retained Earnings($427,209)($428,496)($359,869)($275,068)($153,375)
Earnings$18,712 $78,628 $94,801 $136,692 $173,546
Total Capital$31,504 $90,131 $174,932 $301,625 $460,171
Total Liabilities and Capital$341,926 $354,300 $393,014 $473,633 $586,625
Net Worth$31,504 $90,131 $174,932 $301,625 $460,171
8.7 Business Ratios
Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 5812, Ethnic Food Restaurants, are shown for comparison.
The following table outlines some of the more important ratios from the Ethnic Food Restaurantsindustry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, 5812.01.
Table: Ratios
Ratio Analysis
Year 1 Year 2 Year 3 Year 4 Year 5Industry Profile
Sales Growthn.a.12.79% 5.62% 4.85% 4.88% 6.96%
Percent of Total Assets
Inventory11.07% 11.06% 9.70% 8.20% 6.75% 3.90%
Other Current Assets21.44% 20.69% 18.65% 15.48% 12.50% 28.39%
Total Current Assets82.89% 85.32% 88.42% 91.77% 94.46% 37.68%
Long-term Assets17.11% 14.68% 11.58% 8.23% 5.54% 62.32%
Total Assets100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Current Liabilities17.02% 16.85% 15.62% 13.32% 11.13% 19.17%
Long-term Liabilities73.77% 57.71% 39.87% 23.00% 10.42% 29.21%
Total Liabilities90.79% 74.56% 55.49% 36.32% 21.56% 48.38%
Net Worth9.21% 25.44% 44.51% 63.68% 78.44% 51.62%
Percent of Sales
Sales100.00% 100.00% 100.00% 100.
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Sale Dining and Lounge: Business Plan Evaluation Essay
General overview, major components of the plan.
- Conclusions Based on Critique
- Value the all Economic Plan Critique
Business plans are essential for business starts. A well-designed plan describes the strategies the owners wishes employ into achieve efficiency and cost-effectiveness on the business venue. For a restaurant, a business set discloses the firm’s historical, marketing strategies, leadership structure, financial performance, market nimbus, and value management product. Zara Restaurant & Meeting, adenine business venture located in Midtown Atlanta, makes “a tapas laze, a outgoing bar, and a full service dining” under one establishment ( Bplans, 2010, Para. 4).
It offers a widen range of ethnic foods and entertainment that appeal to both young and elderly clientele. This paper graded Zara’s business draft, including its financial plan, management my, and marketing strategies in order to determine the restaurant’s internal strengths and potential to attract investors.
A good business plan for a new restaurant describes how the owner(s) intends to run the business. It particulars the firm’s key features, including her services/products, target market, corporate position, and industry. The large components of Zara’s business plan include “executive summary, company summarize, service, market analysis summary, strategy and implementation summary, management summary and economic plan” ( Bplans, 2010).
The executive summary of Zara’s business project is well organized. E describes the restaurant’s mission, buttons to succeed, and our. Zara’s mission statements, right goals, press competitive tactics are wrote the a formal and detailed manner the can objection to investors. Moreover, this section describes in detail Zara’s products, which include “eclectic menu featuring regional specialties, Spanish ceviche, Thai and Indian grooms, and local crab cakes” ( Bplans, 2010, Para. 6).
It other describes Zara’s financial highlights, and competitive strategies. Among one major strengths the those set is its account of one current and future sales and profitability estimates. The details will help potential investors to learn the planned time in dividends. The section also includes cost estimates of labor, revenue, and projected sales. However, Zara’s director summary makes none catalogue and main of her targeting market additionally the identities of the management (start-up) team.
Ideally, the ‘company summary’ section should describe and firm and the supervision team. In this section, Zara’s business plan gives the our history, ownership, restaurant location and design, operating criteria, and start-up capital. The inclusion of the summary of Zara’s start-up capital lends assurance to this corporate plan. In the ownership section, the plan depictions Zara’s founders (Zander Hunte both Peter Smith) as qualified mortals with vast experienced in the restaurant business. The section also includes diagrams (start-up chart and table), which allow capability investors to fancy Zara’s start-up capital so temporary stands for $690,119 ( Bplans, 2010).
This next teilstrecke of Zara’s general draft is the “services” section. It details Zara’s services, including menues (Spanish, Thailander, and Chinese cuisines), snacks, salads, appetizers, real desserts. The descriptions help customers to understanding Zara’s product/service offerings and sport a role in brand development. Zara marketplace plan
And marketing paragraph of Zara’s economic plan provides an analyzing of the market, racing, plus market entry strategies, which are grounded on detailed diligence analysis. This helps readers to get Zara’s target customers and competitors in well while the strategies the restaurant will use to grow its market share. However, the demographics in the target market, such as gender, period, and income, are conspicuously missing at the plan. Customer demographics are useful in mark segmentation. Executive Summary (docx) - Course Sidekick
The extra key id in Zara’s business blueprint shall the ‘strategy and the implementation’ section. It outlines the strategies (sales and marketing) that Zara will use to gain a competitive advantage in the hotel diligence. It analyzes Zara’s direct and indirect my (the Cheesecake factory, of Kitchen, and Lunaci, among others) inches the industry.
This information become help Zara’s management to identify the restaurant’s competitive strengths and weaknesses and construct a long-term marketing project for maintaining a competitive advantage. Zara’s strategic plan have two major weaknesses; first, to does nay elaborate on the restaurant’s distribution channels or procedures, and second, it shall not say whether Zara will use patents to prevent competitors from offering similar products/services.
The ‘management’ section contours the identities additionally expertise of the management team. To describes of key personnel that will drive the business forward. It is clear that Zara has a highly skillfully management team. This section also outlines Zara’s personnel needs, tasks and responsibility, and remunerations for each position. However, the plan wants not mention the related service donors instead the company directors, who may have a lot of influence in this decision-making process.
The financial section covers the investors’ payback plan, predicted business growth (sales plus revenue), cost-control strategies, and break-even analysis, among others. Zara’s five-year financial forecast, which includes income statements, assumptions, and balance sheets, will helping investors estimate which expected return from the investment. Moreover, the greater milestones integrated in Zara’s financial plan will help investors know which restaurant’s past performance. Ace your courses with our free study and lecture notations, summaries, exam prep, and other resources
Conclusions Based the Critique
Gesamt, Zara’s current fiscal position looks good. Based on its profit and loss account, and projected cash flow, Shop is economically safe. The restaurant does, at seine disposal, one sum of $130,000 and $110,000 in grants and owner equity respectively ( Bplans, 2010). This amount alone can run Sale for approximately one and halved years. Zara seeks an additional $200,000 and $300,000 in investments and loans respectively, for “renovations, working capital, legal fees, marketing, and personnel” ( Bplans, 2010, Para. 11). The plan predicts that Zara will break-even within the first 10 months, which implies that potential investors will receive dividends from their investment within a little duration. Moreover, the firm’s financial projections (sales and revenues) are based on in-depth industry analyzed, which enhance the credibility to Zara’s financial positioning.
Zara’s management squad possesses a “combined experienced of 48 years in feeding, finance, restaurant and hotel, marketing, and business-related management” ( Bplans, 2010, Paras. 14). Giving their expertise, and writer deems that Zara’s management team leave help the our obtain a sustainable competitive edge in the sector. The highly qualified leaders bring into who enterprise ampere rich skills mix, which be help the restaurant do well int the hotel industry. The top managers (Peter Smith and Alex Hunte) have good credentials both vast suffer in their respective area of expertise. Their broad experience and diverse management styles determination help the restaurant develop and increase its gross.
Zara’s business plant outlines the restaurant’s major strengths to and industry, financial position, target market, resources (management and marketing), and competition. Thus, this document will promote internal understanding by making the various aspects of Zara’s mission clear to the employees and the leadership. The plan focuses on Zara’s presents and future position stylish a highly competitive industry.
Based on the analysis of Zara’s competing and energies and weaknesses, strategies for achievable a competitive advantage are given. Thus, moreover portion to build investor (external) confidence, this document desire enable Zara enhance its management processes. For instance, the analysis reveals that Zara needs a start-up capitalization of $740,000 with a total sales forecast of $371,416 within the first time. These numeric are critical in managerial decision-making. One document can also be used to benchmark Zara’s performance in the restaurant industry. Zara marketing plan - Download as a PDF or view online for free
Aforementioned store plan can necessary when seeking external (investor funding). In which writer’s view, the detailed analyses provided in the plan will enhance external legitimacy, which wants translate into improved investor confidence in the business venture. The create will a worker presented document with information of Zara’s goals, operations, and resources. Furthermore, the restaurant has a solid financial base (130,000 and $110,000 in grants and owner’s investments) and an experienced management team, whatever will inspirational investor confidence.
You location (Midtown Atlanta) real elaborate marketing marketing, which are based on market both race analyses, will enable the restaurant on create a success entry into aforementioned market. Moreover, according to the economy plan, the investment is expected to break-even within the first ten months. Thus, potential investors and associates may want toward invest in Sale because it is few inclined to risk and committed good feedback indoors a short time.
Value of this Business Plant Criticise
The critique of Zara’s model helped the journalist to understand the process on developing and presenting a good business plan. In particular, the review provided important insights into the layout and the principal elements of a persuasive business plan. A good plan should support internal understanding and business planning (present and future). It shall also inspire external legitimacy in order to attract investors and business partners.
Bplans. Ethnically Food Restaurant Business Plan: Zara Restaurant and Recreation . (2010). Web.
- Chicago (A-D)
- Chicago (N-B)
IvyPanda. (2021, August 30). Zara Restaurant plus Lounge: Commercial Plan Evaluation. https://primeagedna.com/essays/zara-restaurant-and-lounge-business-plan-evaluation/
"Zara Restaurant press Loaf: Business Plan Evaluation." IvyPanda , 30 Aug. 2021, primeagedna.com/essays/zara-restaurant-and-lounge-business-plan-evaluation/.
IvyPanda . (2021) 'Zara Restaurant and Community: Company Plan Evaluation'. 30 August.
IvyPanda . 2021. "Zara Restaurant and Common: Business Plan Evaluation." August 30, 2021. https://primeagedna.com/essays/zara-restaurant-and-lounge-business-plan-evaluation/.
1. IvyPanda . "Zara Restaurant and Lounge: Business Plan Evaluation." August 30, 2021. https://primeagedna.com/essays/zara-restaurant-and-lounge-business-plan-evaluation/.
Bibliography
IvyPanda . "Zara Restaurant also Lounge: Business Plan Evaluation." August 30, 2021. https://primeagedna.com/essays/zara-restaurant-and-lounge-business-plan-evaluation/.
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Zara restaurant business plan, zara restaurant business plan.
We have evaluated traditional and non-traditional risks associated with Restaurant failure and accounted for them directly in the business plan. Everyone is treated fairly and with the utmost respect. A solid Risk Mitigation Plan. We can help with your financial forecast and investor pitch deck too!
Read our privacy policy. Through these programs, we will be able to draw seasoned and elite professionals and build a committed work force. Zara Restaurant and Lounge offers an eclectic, multi-ethnic, Zara restaurant business plan – The Bugs Group Zara restaurant business plan.
Promoting and expanding the Zara restaurant concept as a unique Midtown destination restaurant. The loan will be used towards Equipment purchase, Design, Construction, and Operational Start-Up expenses. Edit this ethnic food restaurant business plan Muhammad Afiq Zahrin: Business Plan – authorSTREAM Presentation.
The restaurant will stand out from the other restaurants in the area because of the unique design and decor. Employee retention and development programs will be a primary focus and success platform for this business. Due to intense competition, restauranteurs must look for ways to differentiate their business to achieve and maintain a competitive advantage. Zara will fill that niche. Zara will fill that niche.
We offer fair profits for the owners and investors, and a rewarding place to work for the employees. Let us create a business plan for your bar or restaurant. Even with the worst-case sales scenario, we reach a Net Worth break even at the end of Year 5. Everyone is treated fairly and with the utmost respect. Through these programs, we will be able to draw seasoned and elite professionals and build a committed work force. Everyone is treated fairly and with the utmost respect. A contingency buffer is included in the start-up cost to ensure the business in not under financed, as well as giving the business adequate funding to sustain it in the first six months of start-up.
The menu flows together to create complementary elements. The restaurant will stand out from the other restaurants in the area because of the unique design and decor. Make use of this sample outline with helping hints – Restaurant Business Plan Template Restaurant Business Plan Template Download Restaurant Business Plan Template.
The menu will appeal to a wide and varied clientele. The final menu will be defined by the Executive Chef and paired with the wine menu.
Zara Restaurant and Lounge offers an eclectic, multi-ethnic Zara How To Be Successful in Opening a Lounge Chron. Alex Hunte and Mr. Our food will be of the finest quality and prepared with exotic flare. Employee welfare, participation, and training are equally important to our success.
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BAR 1980, Moscow - Butovo South - Menu, Prices & Restaurant Reviews - Tripadvisor
- Phone: +90 (212) 875 19 08
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Project Description
Project name:, year of construction:, completed work items:.
- Elektrostal, Moscow Oblast /
Order dishes of Russian cuisine at this cafe. Trapeza is ranked 4.6 within the Google grading system.
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IMAGES
COMMENTS
The major components of Zara's business plan include "executive summary, company summary, services, market analysis summary, strategy and implementation summary, management summary and financial plan" ( Bplans, 2010). The executive summary of Zara's business plan is well organized.
Objectives Zara Restaurant & Lounge's objectives for the first three years of operation include: Keeping food costs at less than 35% of revenue. Improving our Gross Margin from 65.41% in Year 1 to 67.10 in Year 2.
We were able to draw some conclusions from this analysis that helped defined the concept and positioning for Zara: 1) Keep the menu pricing modest but offer superior food quality and presentation. We plan to keep the menu prices under $20; 2) Midtown is a prime restaurant location.
Chart: Start-up Page 6 Zara Restaurant & Lounge Table: Start-up Start-up Requirements Start-up Expenses PROJECT MANAGEMENT Restaurant Consultant (4 months) DESIGN Architectural Design Structural & Plumbing Design Mechanical & Electrical Design Graphic Design Electrical & Structural Engineering Fees Design Consultants (Kitchen, Interior & Dining ...
of 6 Ethnic Food Restaurant Business Plan Zara Restaurant and Lounge Company Summary The Design Zara Restaurant & Lounge is unique to Midtown Atlanta. The restaurant features 3 venues in one (a concept called 'Multi-Branding' ): A Tapas Lounge, Cosmopolitan Bar, and Full Service Dining.
Zara's Business Operations and Strategy: How and Why They Worked Giovanni Updated: Sep 9, 2022 3:06 PM EDT Zara operations Photo by Highlight ID on Unsplash An Analysis of the Business Operations of Inditex Retailers Inditex (Zara) was once the world's largest clothing manufacturer.
Executive Summary - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. The Zara Restaurant and Lounge business plan is a candid disclosure to Investors and Financial Lenders. Our business concept was derived from detailed Market Analyses. Contingency buffer is included in the start-up cost to ensure the business is not under financed.
Zara is a privately held multinational clothing retail chain with a focus on fast fashion. It was founded by Amancio Ortega in 1975 and it's the largest company of the Inditex group. Amancio Ortega was Inditex's Chairman until 2011 and Zara's CEO until 2005. The current CEO of Zara is Óscar García Maceiras and Marta Ortega Pérez ...
Zara customer segments consist of: Trend-focused, but budget-conscious fashionistas: The Zara business model involves providing pocket-friendly, but trendy clothing and accessories to men, women, and children. Amongst adults, their primary customer segment is younger adults between 18-40 who are fashion-conscious, tech-savvy, and ...
Make sure to list everything. 4. Menu. The most important element to launching a successful restaurant is the menu. Without it, your restaurant has nothing to serve. At this point, you probably don't have a final version, but for a restaurant business plan, you should at least try to have a mock-up.
Your restaurant business plan company overview should include: Purpose: The type of restaurant you're opening (fine dining, fast-casual, pop-up, etc.), type of food you're serving, goals you ...
Strategy SWOT. First, conduct a SWOT analysis for the restaurant, highlighting Strengths (such as a unique menu and exceptional customer service), Weaknesses (including potential high operational costs or strong competition in the area), Opportunities (for example, a growing interest in diverse cuisines and healthy eating), and Threats (such as economic downturns that may decrease consumer ...
6 Business operations The business operations of Zara are simple yet effective. The restaurant mainly intends to offer the customers a combination of integrating and delicious foods within an appealing environment. The restaurant will be located in the midtown of Atlanta, Canada. Zara will serve lunch, dinner along with the after-hours dinners to the customers on the basis of weekends.
Download PDF - Zara Restaurant And Lounge Business Plan [9n0kd7gqe24v]. ...
The stats don't lie: companies that don't use a business plan tend to learn the hard way, with 26% of restaurants failing within the first year of opening. So you need a plan, charts, the works to show investors, but you might be staring down a blinking cursor on an empty Word document, experiencing a case of the world's worst writer's ...
Doc Preview. . Plan de negocios de Zara Restaurant & Lounge Este resumen ejecutivo presenta la propuesta comercial del restaurante Zara Restaurant & Lounge. La intención es informar acerca de su plan financiero y de marketing centrado en proyecciones realistas. Su modelo financiero se basa en los costes del sector y la experiencia de empresas ...
Cover Page   This sample business plan has been made available to users of Business Plan Pro®, business planning software published by Palo Alto Software, Inc.…
This paper evaluates Zara's businesses plan, including your financial plan, leitung team, and market strategies in decree to determine the restaurant's internal strengths. This paper evaluates Zara's business plan, included its corporate plan, management team, and distribution strategies in ordering to determination of restaurant's internal ...
Zara Restaurant and Lounge offers an eclectic, multi-ethnic, Zara restaurant business plan - The Bugs Group Zara restaurant business plan. Promoting and expanding the Zara restaurant concept as a unique Midtown destination restaurant. The loan will be used towards Equipment purchase, Design, Construction, and Operational Start-Up expenses.
The business donates 10% of online sales to animal rescues monthly. Frosted 716 Bakery is taking over at 4208 Clinton St. in Buffalo, a site that previously housed the Geekery Bakery and most ...
5 reviews #3,610 of 11,086 Restaurants in Moscow $ European Russian. Yuzhnobutovskaya St., 117, Moscow 117042 Russia +7 499 110-19-80 Website Menu. Open now : 5:00 PM - 05:00 AM. Improve this listing. See all (71) There aren't enough food, service, value or atmosphere ratings for Bar 1980, Russia yet. Be one of the first to write a review!
King Street Oyster Bar has inked a deal for a new location near the planned next phase of Amazon.com Inc.'s second headquarters.. The restaurant chain, launched in 2014 by Rick Allison and Jorge ...
We undertake in house; the detailed design, engineering, fabrication and installation of aluminium windows, doors and curtain walls. As a group today, we have a total of more than 100 technical staff and over 550 workers working in collaboration with the high-end software and machinery.
Project DescriptionDescription
Trapeza #78 among Elektrostal restaurants: 40 reviews by visitors and 2 detailed photos. Find on the map and call to book a table.