This restaurant business plan was created for Studio67, a medium-sized restaurant in a trendy area of Portland, Oregon. Studio67 will focus on creating and eating organic, creative ethnic food. Studio67’s commitment for sustainable development drives Studio67 to place an emphasis on organic products. Additionally, the restaurant procures local foods when possible, reducing their dependence on fossil fuels used for transportation.
Services
Studio67 offers Portlanders a trendy, fun place to have great food in a social environment. Mario Langostino’s extensive repertoire includes many traditional recipes and ingredients. Studio67 predicts that most purchases will come from the chef’s recommendations. To offer customers a varied and unusual menu, ethnic recipes will be used. Mario will also highlight healthy dishes since he sees the need for healthy cuisine in the restaurant market.
Customers
Studio67 believes that the market can be segmented into four distinct groups that it aims 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 desire ethnic and organic food, are the third group. Dieting women make up the last segment of Portlanders who are particularly interested in the healthy choices on the menu.
Management
Studio67 has put together a strong management staff. 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 has seven years of experience as an Arthur Andersen CPA. Jane’s financial control skills will be invaluable in keeping Studio67 on track and profitable. Studio67 also has Marion Langostino, who will be in charge of the back-end production. Chef Mario has over 12 years of experience and is a published, visible fixture in the Portland community.
Studio67’s financial success is paramount. This will be achieved by strict financial controls. Additionally, success will be ensured by offering a high-quality service and extremely clean, non-greasy food with interesting twists. Studio67 does plan to raise menu rates as the restaurant gets more and more crowded, and to make sure that they are charging a premium for the feeling of being in the “in crowd.”
Studio67 has a market and financial analysis that shows it can generate over $365,000 per year, $565,000 per year, and net profits in excess of 7.5%. Year two will bring about profitability.
Objectives
- Three-quarters of a million sales in the second year.
- Personnel costs less than $300K the first year, less than $400K the second year.
- Profitable in year 2 and better than 7.5% profit on sales by the third year.
Mission
Studio67 is a great place for a meal. They offer a fun atmosphere, delicious food, and an interesting environment. We are looking for fair profits for the owners and rewarding work environments for our employees.
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