This restaurant business plan was created for Studio67, a medium-sized restaurant in a trendy area of Portland, Oregon. Studio67 will place a strong emphasis on organic and creative ethnic cuisine. Studio67’s commitment towards sustainable development has led to an emphasis on organic ingredients. Additionally, the restaurant procures local foods when possible, reducing their dependence on fossil fuels used for transportation.
Services
Studio67 is a fun, trendy place for Portlanders to enjoy great food and a friendly atmosphere. Mario Langostino, Chef Mario Langostino, has many different ethnic recipes. Studio67 predicts that most purchases will come from the chef’s recommendations. Ethnic recipes will be used to provide the customers with a diverse, unusual menu. Mario will also focus on healthy dishes to meet the increasing demand in the restaurant sector for healthy cuisine.
Customers
Studio67 believes that market segments can be broken down into four distinct groups it intends to target. The first is the lonely rich, which numbers 400,000. The second group will be targeted are young happy customers who are growing at an annual rate 8% and have 150,000 potential customers. Rich hippies who want organic foods and other ethnic dishes are the third group. The last group which is particularly interested in the menu’s healthy offerings is dieting women which number 350,000 in the Portland area.
Management
Studio67 has a strong management team. Andrew Flounderson, the general manger, will lead Studio67. Andrew has extensive experience in the management of companies with between six and 45 employees. Jane Flap will oversee all accounting and finance functions. Jane is a seven-year veteran as an Arthur Andersen CPA. Jane’s financial control skills are invaluable for keeping Studio67 on track. Studio67 also has Marion Langostino, who will be in charge of the back-end production. Mario is an established, well-known fixture of the Portland community with over 12 years’ experience.
Most important to Studio67 is the financial success which will be achieved through strict financial controls. A high-quality service is essential to ensure the success of Studio67. They also plan to offer delicious, healthy, and tasty food. Studio67 plans to increase the menu prices as the restaurant becomes more crowded. They also plan to charge a premium for the experience of being part of the “in crowd”.
The market and financial analyses indicate that with a start-up expenditure of $141,000, Studio67 can generate over $365,000 in sales by year one, $565,000 in sales by the end of year two and produce net profits of over 7.5% on sales by the end of year three. In year two, profitability will be attained.
Objectives
- The first year sales were $350K, the second was more than half a billion.
- Personal costs are less than $300K for the first year and less than $400K for the second.
- Profitable in year two, better than 7.5% profits on sales by year three.
Mission
Studio67 is a wonderful place to eat. It offers a unique atmosphere and delicious, creative food that is also great for you. We want fair profit for the owners, and a rewarding place to work for the employees.