Executive Summary
Our initial statement to Investors and Financial Lenders is a candid disclosure of the Zara Restaurant & Lounge business proposal ? our intent is to set realistic business expectations, and eliminate any questions about the profitability of this business venture.
We, as business owners, have a vested stake and financial commitment in the success of this restaurant. Our intent is to have a definitive business, financial, and marketing plan that not only serves our need for capital financing, but is utilized as our daily business roadmap. We have taken all precautions to validate our business and financial models, 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 Karachi 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. Instead of building a business around a preconceived concept, we analyzed the market findings and built a concept around our consumers. In other words, our business is built to service an unmet consumer ?want?.
3.?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 valid mitigation strategies for each.
4.?Deep Management Experience. Our management team has vast combined experience, involved with over variety of restaurant openings, and deep involvement with the Pakistan restaurant industry.
5.?The total capital requirement to launch Zara Restaurant & Lounge is Rs.3000, 000, of which Rs.2500, 000 is allocated to start-up capital, and Rs.500,000 as business operations cash reserve.
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.
These are attainable targets; our objective is to attain 70.73% by Year 3.
??Keeping employee labor cost between 37-39% of total sales.
??Remaining a small, unique restaurant with eclectic food and service.
??Averaging sales between Rs.1, 200,0000 ? 1,500,0000 per year.
??Promoting and expanding the Zara restaurant concept as a unique Midtown destination restaurant.
??Expanding our marketing and advertising in Karachi and in the neighboring suburbs to increase our customer base.
??Achieving a profitable investment return for investors for Years 2 ? 6.
Mission
??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? family restaurant offering affordable, high quality cuisine inspired by authentic family recipes. Our goal is to provide our customers with an entire dining experience that exceeds their expectations on every visit. We do this by recommending add-on items that will enhance their dining experience. Our restaurant is clean and the quality is always high.
??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. We value the people who work for us. Quality employees make quality food, keep the restaurant cleaner, give better service, and stay employed longer because they like working. We have found that friendly managers hire friendly crew people and friendly crew people attract customers.
??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.
Keys to Success
1.?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.
2.?Product quality: Great food, Great service and atmosphere. The products we serve are of the highest quality. We combine this quality with great service and atmosphere. We then add menu items that appeal to all ages of the family
3.?Current management staff and crew have a great deal of experience.
4.?A frequent diner program and birthday club will be available to promote repeat customers as well as a tool to track sales.
5.?Management that treats every employee equally. We create an atmosphere where employee?s love coming to work and can earn good money.
6.?Great employees make for a great restaurant.
Source: http://metalandflesh.com/?p=573
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