This restaurant business plan is for Studio67, a new medium-sized restaurant located in a trendy neighborhood of Portland, Oregon. Studio67 will place a strong emphasis on organic and creative ethnic cuisine. An emphasis on organic ingredients is based on Studio67’s dedication to sustainable development. Additionally, the restaurant procures local foods when possible, reducing their dependence on fossil fuels used for transportation.
Studio67 offers Portlanders a cool, casual place to enjoy great food in an informal setting. 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.
Studio67 believes the market can be divided into four distinct segments that it wants to target. The first is the 400,000-strong lonely rich. Young happy customers will be the second target. This group is growing at an annual pace of 8% with 150,000 possible customers. The third group is rich hippies who naturally desire organic foods as well as ethnic cuisine. The last group which is particularly interested in the menuâ€™s healthy offerings is dieting women which number 350,000 in the Portland area.
Studio67 has put together a strong management staff. Andrew Flounderson will be the general manager. Andrew has vast experience in managing organizations with six to 45 employees. Jane Flap will be responsible for all of the finance and accounting functions. Jane has seven years experience as an Arthur Andersen CPA. Jane’s financial control skills are invaluable for keeping Studio67 on track. Studio67’s chef Marion Langostino will oversee the production side of the venture. 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. The company will provide high-quality service, clean and delicious food. Studio67 does intend to raise their menu prices when the restaurant is more crowded. This will also ensure that they charge a premium to give the feeling of being part the in crowd.
Studio67’s market and financial analysis show that it can generate more than $365,000 in sales in year one and $565,000 in sales in year two. It will also produce net profits exceeding 7.5% in year three. Profitability will be reached by year two.
- The first year sales were $350K, the second was more than half a billion.
- Personnel costs less than $300K the first year, less than $400K the second year.
- Profitable in two years, better than 7.5% for sales in three years.
Studio67 is an excellent place to eat. The restaurant offers great food and a fascinating atmosphere. We want to provide a safe environment for employees and fair profit for owners.