On the Water, a Mediterranean restaurant located on the Sunset Strip, is now open. On the Water will target both fun-seeking as well as sophisticated diners looking for good food in a fascinating atmosphere. On the Water will strive to earn 85% gross profits through an innovative setting and a delicious menu.
On the Water will be targeting locals and tourists who are active restaurant seekers. The program will focus on young adults earning $15K-60K who are looking for great food and fun. On the Water will focus on young adults with money and tourists who frequent Sunset Blvd. The demographics include males and females between the ages 21 and 50, with or without a college degree. On the Water can serve not only local Hollywood area residents, but also tourists and party animals.
If there has been a decline in the general economic, the impact on the restaurant industry is often less than that of the overall economy. It is partially due to the perception that food, from the grocery store or restaurant, is a fundamental need of life. People spend accordingly.
The Service and Products
On the Water’s impeccable service is a constant. Each of the server staff is highly skilled and undergoes three weeks of training. This ensures that they provide outstanding customer service. The Water’s services are provided in an exceptional atmosphere that features a wide range of art and culture collections from Mediterranean Europe. This authentic setting can be distracting at times as people look through the wealth of artifacts.
Lily Valdivia’s pride is this menu. It’s the result of more than twenty years of experience in cooking. Traditional favorites like hummus and baba Ghannoj are included in the menu. These favourites are differentiated by using the freshest organic ingredient. Most people are not aware of how much better the items taste when they are prepared with the freshest ingredients and made with love. There are also kebobs (and chutneys), flat breads (and desserts). Every item is freshly prepared and homemade daily.
Lily Valdivia – a restaurant veteran – is in charge of the restaurant. Her first job as a waitress was 12 years ago. She quickly moved up to fine dining serving where she perfected her formal, customer-centric serving approach. Lily has been the Manager at a European Restaurant with more than $2.5 Million in annual sales for the past five year. As mentioned earlier, Lily started cooking 20 years ago as a child in Greece. Lily comes from a large extended family and quickly took on the responsibility of cooking for her whole family. She was trained by her mother, who has three generations of traditional recipes. Lily quickly master these skills and began creating her own dishes. Her family’s feedback was always positive. She knew she would one day have to use this talent in a business venture.
On the Water expects to be profitable by month two. Sales are expected to grow to $1,785,000 over the next two years and to $2,345,000 by three. We forecast a high net profit on these sales.
- Sales increase to more that $2,345,000 in the third-year.
- At least 80% gross margin.
- In order to increase inventory turnover, you should aim to get to 200-hundred turnings next year in year 2 and to 240 the following year in year 3.
On The Water is an establishment that offers high-quality fine dining in a unique, mediterranean setting. It also has a bar and grill. The mission is not only to have great tasting food, but have efficient and friendly service. The dining area is sophisticated and welcoming. It also features a unique design with walls that are continuously soaked with running water. There is also a jungle ceiling that hangs from the ceiling. We are focused on customer satisfaction and providing high quality, fresh and carefully chosen food. We do not judge people based on their dress or class. On The Water grill wants to be a place where people are able to enjoy a delicious meal and meet new people at our tropical Mediterranean Honey bars located inside.