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Project Management Food Joint

Project Management Food Joint

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Published by: Gourab Mondal on May 01, 2013
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04/25/2014

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Preface

Opening a restaurant is a distinct challenge. It is also a thrill that gives one the opportunity for tremendous creative expression. Developing the menu, creating a new dish, designing the décor, attending to your level of service or establishing an ambience- these factors all contribute to exceeding the expectations of your guests. The twenty-first century finds the restaurant business enjoying record sales but also rising labor and other costs. The conditions for restaurants success may change quickly, leaving financial scars on some operators. There are several new styles of restaurants, and delivery of their products and services has changed as well. Foods formerly considered exotic are now routinely accepted and expected. Taste titillation comes by offering interesting foods and flavor combinations that challenge chefs and owners. Helping to meet the continuing restaurant challenges is the oncoming wave of students who have studied the culinary arts and restaurants management and who view the restaurant business as a career of choice. A restaurant can be fun to operate, and the profit margins can be substantial. It is interesting to learn that at least one billionaire, Tom Monaghan, made his fortune in the pizza business, and that dozens on millionaires have acquired fortunes in restaurants.

Our business concept was derived from detailed Market Analyses. have a vested stake and financial commitment in the success of this restaurant. but fully addressed in this business plan. Our intent is to have a definitive business. A common mistake for new entrepreneurs. We have accomplished this as follows: 1. Instead of building a business around a preconceived concept. A contingency buffer is included in the start-up cost to ensure the business in not under financed. and marketing plan that not only serves our need for capital financing. not optimism. We. We have based costs on our vast industry and practical experience with similar ventures. financial. Our industry experience confirms a longer ramp-up stage for restaurants over other retail/service businesses.Executive Summary of Business Plan Our initial statement to Investors and Financial Lenders. this restaurant/ethnic food business plan. We have taken a collective look at all figures to make solid business estimates. . A buffered financial plan that ensures adequate capitalization.our intent is to set realistic business expectations. is a candid disclosure of the Food joint Restaurant & Lounge business proposal . we analyzed the market findings and built a concept around our consumers. highlighting strengths and camouflaging the risks. Our financial model is rooted in industry facts. as business owners. 3. Entrepreneurs have a tendency to paint the restaurant business plan with a very optimistic brush. as well as giving the business adequate funding to sustain it in the first six months of startup. We have taken all precautions to validate our business and financial models. focusing on realistic projections. and analysis against local New Delhi market averages. validation against National Restaurant industry cost averages. In other words. but is utilized as our daily business roadmap. and eliminate any questions about the profitability of this business venture. our business is built to service an unmet consumer 'want'. 2.

• • . male or female. Gourab Mondaland Mr.60. On a linear projection. we have identified valid mitigation strategies for each.00. This Plan is being submitted in order to secure a Business loan for Rs64. Mr. will contribute the remaining Rs30.000. Private Investors. Deep Management Experience. Owners. We have taken the necessary precautions to ensure the business is fully capitalized.customer satisfaction is our paramount objective. but also efficient and superior service . 5. the company should have over Rs. Food joint will be the restaurant of choice for a mature and adult crowd. and training are equally important to our success. The mission is to have not only a great food selection.000 is allocated to start-up capital.000. 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.50. Mission • Food joint will be an inspiring restaurant. Our management team has 20 years combined experience. of which Rs96. and a rewarding place to work for the employees. Design. and Rs14.000 in cash balance the third year. and deep involvement with the Chennai restaurant industry. combining an eclectic atmosphere with excellent and interesting food. participation.45.11.4.50. the entire financial debt will be retired by Year 7.000 as business operations cash reserve.000 in personal capital. ambiance. We offer fair profits for the owners and investors. Everyone is treated fairly and with the utmost respect. we reach a Net Worth break even at the end of Year 5. young and old. The loan will be used towards Equipment purchase.00. Under a realistic scenario. and Operational Start-Up expenses. couples and singles.12. Even with the worst-case sales scenario. and have addressed all financial shortfalls to ensure a successful business start-up. 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. The total capital requirement to launch Food joint Restaurant & Lounge is Rs1. involved with over 86 restaurant openings.55.000. Employee welfare. Our concept combines variety. Construction. Our employees will feel a part of the success of Food joint Restaurant & Lounge. Siddharth Manu are investing Rs16. who will be part owners with a non-managerial interest in the business. A solid Risk Mitigation Plan.

Bank Deposits and Accounts Payable. 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. Issuing Inventory. to local idli. one that is contemporary and entertaining. Thiruvanmiyur. Storage. 5. to Thai and Indian curries. . 2. Our eclectic menu features regional specialties around the globe. great service and atmosphere. dosa & uttapam. Cost Control will be an integrated function of the restaurant from the onset. Employee Retention Focus: Employee retention and development programs will be a primary focus and success platform for this business. restaurateurs must look for ways to differentiate their business to achieve and maintain a competitive advantage. Receiving. from Indian crevice. Order Taking. without exception. Unique. 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. This lowers our immediate overhead and attracts quality staff. Due to intense competition. Chennai redevelopment requires a place that will fit into the 'new look' of the community. Portioning. Product quality: great food. we will be able to draw seasoned and elite professionals and build a committed work force. The restaurant will stand out from the other restaurants in the area because of the unique design and decor. Service Preparation. 3. Cost Control Focus: We will control costs at all times. Rough Preparation. 4. Innovative & Contemporary: The creation of a unique and innovative fine dining atmosphere will differentiate us from the competition.Keys to Success 1. We have budgeted for a stock option program for Chef and Management positions to subsidize a lower salary base. ‘Spice of Life' Menu: The menu will appeal to a wide and varied clientele. We will offer a fine dining experience in an electric atmosphere. Food joint will fill that niche. Cash Receipts. We will use of this restaurant/ethnic food business plan to track actual costs against our forecasts in managing the business. Through these programs.

25.41% in Year 1 to 67.000 – 2. Promoting and expanding the Food joint restaurant concept as a unique Midtown destination restaurant. Remaining a small. Expanding our marketing and advertising in New Delhi and in the neighboring suburbs to increase our customer base. • • • • • .73% by Year 3.10 in Year 2.00.00.80.6. Achieving a profitable investment return for investors for Years 2 . Improving our Gross Margin from 65. Averaging sales between Rs1. unique restaurant with eclectic food and service.000 per year. our ‘stretch' is to attain 70. These are attainable targets.Objectives Food joint Restaurant & Lounge's objectives for the first three years of operation include: • • Keeping food costs at less than 35% of revenue.

Management Team Food joint Restaurant & Lounge. The atmosphere caters to a young but mature adult crowd. . have considerable experience in the restaurant industry. We have assembled a team that embraces different disciplines. This concept offers customers variety. we will hire a General Manager to handle the day-to-day Restaurant management. Where possible. The restaurant features 3 venues in one: A Tapas Lounge. finance. Attached is the portfolio of past success. For lack of a better term we are launching a ‘multi-ethnic' cuisine restaurant . The Menu Food joint is focused on servicing New Delhi growing demand for an ethnic eating experience. but you can inspire confidence based on what you have done. The owners. restaurant and hotel. In total. The Management Our management team has over 48 years combined experience in food.000 square feet. Food joint is a complimentary mingling of international cuisine on a single menu. In Year 2. This will assist Food joint’ Restaurant & Lounge to grow even further. accomplished professionals with expertise in all areas of the business. consideration will be given to incorporate a dining patio. as hands on managers. Total space requirements are 3. This is not a family dining establishment. understands the importance of a strong management team. The strength of our management staff positions us for success. including marketing and restaurant management. We will draw on our Advisory Board as part of the site selection and lease negotiation. Day to day operational management will be conducted by Gourab Mondal and Siddharth Manu. The Midtown demographics fit this concept perfectly. business management. the restaurant will provide seating for 110 patrons. Chennai. and accessibility issues will be reviewed as key criteria. These Food joint Management teams has deep roots in the restaurant segment. The spatial and menu divisions will broaden our appeal and provide our customers with a different experience on each visit.a restaurant concept that responds to New Delhi need for selection and choice. Cosmopolitan Bar. and marketing arenas. and Full Service Dining. Gourab Mondal(Managing Partner) and Siddharth Manu(Executive Chef). with more than 20 years of experience between the key officers.Company Summary The Design Food joint Restaurant & Lounge is unique to thiruvanmiyur. You can't build investor confidence based on what you will do. parking. Management Summary The strength of our management staff positions us for success. Zoning. offering multiple dining and entertainment options within a single establishment. and have the practical experience to make this venture another great success.

and food flavors will be important. The Restaurant Industry Today The food service business is the third largest industry in the country. The independent restaurant accounts for 15% of that total. The reasons are 1) lifestyle changes. and 3) increase of product variety. There are 600 new restaurants opening every month and over 200 more needed to keep pace with increasing demand. healthier foods at moderate to low prices. The National Restaurant Association released the Foodservice Industry 2000 report that forecasted how the industry might look in the coming years. This number has been increasing for the past seven years. The Industrial Report estimates this as high as 30% over the next five years. Future Trends & Strategic Opportunities The predicated growth trend is very positive both in short and long-term projections. The average American spends 15% of his/her income on meals away from home. and ability to cook for themselves. As modern living creates more demands. resources. 2) economic climate. Some highlights from the panel's findings: • • • • "Consumers will spend a greater proportion of their food dollar away from home. the lifestyle changes created by modern living continue to fuel its steady growth. In the past five years the restaurant industry has out-performed the national GNP by 40%. people will be compelled to eat more meals away from home." . Nutritional concerns will be critical at all types of foodservice operations. Trends are very important and current interest is in lighter.Industry Analysis Although the restaurant industry is very competitive. More and more people have less time. Environmental concerns will receive increased attention. Independent operators and entrepreneurs will be the main source of new restaurant concepts.

Employment of well-trained staff. A new housing development is being built nearby. Service style is new to the area. A main competitor has closed down. Have limited funds available. Opportunities: A new office complex is opening nearby. .SWOT Strengths: Restaurant exterior is clean and tidy. Weaknesses: Restaurant is new and not established. Prices are cheaper than your competitors. Restaurant has poor disabled facilities. Have a good choice of items available on your menu. Offer a product no other business offers. Have a take-away option for your customers. Have a branded image.

exotic drinks.000 renovation grant for restoring and renovating the 100 year old property we plan to lease.000 square feet. In total. consideration will be given to incorporate a dining patio. Your operating costs are set to increase soon. The central dining area will allocate 76 seats. at a lower price and you are unable to match this. Threats: A high street brand is moving into the area. parking. Another restaurant has started offering similar products to your own. featuring lighter fare.000 cars daily. and the dining bar with 12 seats. the restaurant will provide seating for 110 patrons. The restaurant will feature a comfortable and open concept design. The busy IT commercial/residential location has been chosen based upon a successful demographic model and a traffic count of more than 33. The patio setting will be a fun and casual atmosphere for the summer crowd. The outlook for the future of Thiruvanmiyur. Food joint will benefit from Chennai desire to revamp the Thiruvanmiyur area with Rs19. Restaurant Design The total space requirement is 3. the lounge 22 seats.50. The market has been carefully selected and tested for the necessary demographics and retail traffic necessary to meet the goals laid down for profitability. During the busy summer months customers can also sit outside on our patio and we will offer a special summer menu. Where possible.The local council offers grants for regeneration for the unused building you would like to develop. Chennai district is exceptionally positive and the most progressive development area in the city. and accessibility issues will be reviewed as part of this analysis. Manufacturing and Operations Location & Operations Restaurant Location Thiruvanmiyur. as well as non-alcoholic offerings. Zoning. Chennai is the location selected for the Food joint concept. A main competitor has lowered their prices and started a price war with you. Operating Criteria .

12 midnights Sundays . and after-hours dining during the week and weekends.m.The restaurant will be located in Thiruvanmiyur. dinner.m. Dinner: Monday to Saturday. 11 a. The restaurant will service lunch. .2:30 p.Market brunch takeout only. The restaurant will operate during peak service time to take advantage of street traffic. .m. 5:30 p. Service will be available during the following hours: Lunch: Monday to Saturday. Chennai. and after-hour patronage from the entertainment facilities in the area. .

an eclectic ambiance. Food joint Menus Food joint’ varied international menu will feature Thai. The lounge and restaurant staff will offer the finest service in an electric atmosphere and offer customers an extraordinary dining experience. The final menu will be defined by the Executive Chef and paired with the wine menu. and other regional flavors. beer. The kitchen staff will have the best in culinary education and work experience. Normal dining will have a reduced Tapas. We have carefully selected a premium wine. and Goat Cheese dip . and location will produce significant alcoholic drinks sales. Appetizer and Entrée selection. Black Pepper. but our hours. and the Tapas menu will play up this idea with drink suggestions. Spain. Portugal. We will change our menu every 4 months. Our wine list will be modest and primarily focused on wines from California. Chinese. but maintain the 'favorites' for loyal patrons. target market. Indian. The Food joint bar features a comprehensive selection of local and international spirits. We will also feature a moderate international beer selection on tap and in bottles. and Argentina. while the Fusion Dim Sum menu will have special items featured only for after-hours dining. and alcohol listing. The list below offers a small selection of our opening menu offerings: Food joint Tapas • Shrimp Baskets w/ sweet & sour peanut caulis Minced curry beef/chicken w/ onions in roti wrap (or spring roll) • Mixed Seafood Crevice w/ couscous siding • Bamboo Chicken Satay w/ kaffir lime and Sesame marmalade Food joint Appetizers • Bread basket served with Olive oil. Customer satisfaction is the driving force behind our success.Services Food joint Restaurant & Lounge will feature international dishes. and superior service. Our food will be of the finest quality and prepared with exotic flare. wine. are small dishes meant for sharing while drinking sangria. in particular. and the remaining labels will be available by the bottle. Approximately 25% will be available exclusively by the glass. garnished with stunning presentation. from which we will choose a modest rotating selection. Portions will be modestly sized. Tapas. or other mixed drinks. The menu flows together to create complementary elements. Their creative talents will complement one another. Food joint’ marketing will focus on our exotic foods.

5 to 104. After-hours bar service will feature selections of non-alcoholic drinks to increase bar sales during lunch and after regulatory hours. The restaurant will feature exotic drinks on a separate menu. Dark and White chocolate • Food joint Fruit Plate Specialty Drinks & Coffees (Rs52.• • • Blue Crab Fritters with Mango-Tamarind sauce Crab Cake medallions w/ Shrimp & Lobster ‘Food joint' Salads • Mixed Greens with Indian sherry wine vinaigrette • Asian Pear and Endive Salad with Blue Cheese & Walnuts Entrees • Tequila Scallops w/ a Indian sherry reduction • Thai Red Chili rubbed shrimp • Voodoo Prince Curry Chicken and Bock Chow w/sticky rice in Banana Leaf • Herb Roasted Chicken with ‘Food joint' Coo-Chee (House) spices Desserts • Chocolate Chunk Bread Pudding w/ Bourbon Cherry sauce • Food joint Chocolate Explosion – Milk.25 to 142. Alcoholic drink specials will be featured.5) A key source of revenue for the restaurant will be alcohol and bar sales. Bar pricing is competitive. as well as a large non-alcoholic selection. Non-alcoholic drinks will be in the higher price bracket due to preparation requirements. .25.5.142. Prices will range from Rs71.50. prices range from Rs52.

busboys. With average tipping rates for the Chennai.09. The estimated gross annual payroll of Rs59. bartenders) do not include anticipated tips. Cooks that work directly with the sous chef (2). People cleaning the restaurant (2). A Sous chef with considerable experience in different restaurants (1). • • • . The staff will include 13 full-time employees and 8 part-time employees. and our menu prices. Kitchen: The Executive Chef will be assisted by: • • An Assistant Chef from a national search (1). Wage salaries for service personnel (waiters staff.820 (including Partner Salaries) is 37% of total sales. who will work a total of 754 manhours per week and generate an average monthly gross payroll of Rs4.93.620 for the first year in business.Personnel Strategies Personnel Plan We believe the personnel plan is in good proportion to the size of the restaurant and projected revenues. Taramani area. Skilled waitresses and bartenders on weekends and evenings will make substantially more. service employees should average at least twice the minimum wage in any given shift. Prep cooks/dishwasher (2).

and Investor Services. Siddharth Manu will be the Restaurant Manager.Restaurant Operations: Gourab Mondal will manage the Financial Management. Servers that work part time (4). waiting tables and bartending) and take care of service and make sure the restaurant is in excellent shape (2). Administrative Salaries (Partners): Gourab Mondal: Rs 7. Full-time bartender (1). Siddharth will also take lead as the Executive Chef working with the Head Chef. He will be the primary responsible for daily Restaurant Operations. Part-time busboy (1). he will have servers that will work as ‘captains' (these people have experience in managing. taking care of Waiters and Bar Staff.000 per year Siddharth Manu Rs 4. Gourab Mondal will also manage the daily Restaurant Operations.82. Part-time bartender (1).20. Full-time busboy (2). PR/Media Advertising. • • • • • • To help Siddharth.400 per year . Bookkeeping.

We have budgeted for the services for a premier Restaurant Consultant familiar with the Chennai market. Rs14. 50.000 grants from the city towards restoration of our historical building. We have defined the following groups as targeted segments that contribute to our growth projections: • • • • • The Business Person Thiruvanmiyur. start-up labor. The two owners are personally committing Rs16. This is especially key during the site selection and start-up stage. rent.745 Sound and Televisions: Rs 1. trendy. 00. as part of the city's Midtown revitalization program. we have obtained an Rs19. contingent upon locating in the proposed space. in Thiruvanmiyur. Our start-up costs are mostly expensed equipment.000 will be allocated for business operations reserve.500 Long-term Assets in the amount of Rs9. painting.670 Office Equipment (2 Computers. plus an Rs45. Fax. We want everyone to feel welcome and entertained. Chennai Couples The Destination Customer High-End Singles Tourists These particular market segments are 25-45 years old. At the start of business. and will open Food Joint in October of this year.665 worth of current assets during start-up: • • • • Fixtures and Lighting: Rs 4.000 include all kitchen equipment. ft. This company will have an integral role in validating the final restaurant location and personnel selection. have disposable income. Safe): Rs 97. and legal and consulting costs associated with opening our restaurant. We are seeking Rs30.000 loan guaranty.99. and participate on the Food Joint Advisory Board.92. In addition. Food Joint Restaurant & Lounge intends to cater to a wide customer base. liquor license.000 of capital.75.750 Bar Equipment: Rs 3. and are seeking upscale. furniture. reconstruction. Printer.55.000 sq. and comfortable restaurant .000 of equity investment to fully fund Food Joint startup costs.Start-up Summary We are currently negotiating a restaurant space of 3. Chennai. This is a solid start-up forecast based on our market analysis We will purchase the following Rs10. 50.83.25. 00.

but as one that offers consistently high quality food. Location is clearly important. food wise. the top ten New Delhi restaurants shared two things: cozy.options. They are likely to spend more on experiences they perceive as unique. Maintaining our edge will depend partly on marketing ourselves as an adult-only destination. and not a family restaurant. and sophisticated. and a unique atmosphere. but only Golden Moments is based on sound market research in the local market. and will embrace our international fusion cuisine. menu variety. but so is atmosphere and distinctiveness. cosmopolitan. And half of them were located in Midtown. Competition and Buying Patterns In 2007. They are also the most open to trying something new. These are the types of people who frequent other restaurants and bars in the area. New Delhi consumers are seeking variety and new experiences. not only as the "new" restaurant. regionally specialized menus. . Only one of them offered traditional "southern" cooking. Our competitors are heading in the right direction. hip interiors and reasonably priced. Our marketing challenge is thus to stand out from our competitors.

the execution of our concept is the most critical element of our plan. Incentive and Retention program . 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 create an appealing and entertaining environment with unbeatable quality at an exceptional price. so that word-of-mouth will be our main marketing force. We will focus on establishing a strong identity in our community with a grand opening. The owners' thorough understandings of opening and running a restaurant An extraordinary contemporary restaurant design International menu with featured menu changes every 4 months Inner and Outer City Marketing campaign (i.e. As an exciting and eclectic restaurant.Strategy and Implementation Summary Our strategy is simple. we are aiming to offer exceptional food at reasonable prices for the average restaurant diner. Competitive Edge Food Joints’ competitive edges are: 1. 2. "Come to Town" promotions) Employee Training. All menu items are moderately priced for the area. 4. While we are not striving to be the lowest-priced restaurant. we will be the talk of the town. 3. 5. 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. Therefore.

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