Executive Summary
The purpose of this business plan is to secure $100,000 in investment for the creation of Lucky Bar and Grill, a bar & grill restaurant to be located in West Palm Beach, Florida. The Lucky Bar and Grill was founded by Gareth Gamble. Lucky Bar and Grill is a prime location and unique niche targeting will allow for the successful foundation and continuation of a strong restaurant business.
Management Team
Gareth Gamble
Gareth Gamble has more than 3 years of bartending and restaurant experience. Gareth decided to strike out on his own after sensing a strong business opportunity in the town of West Palm Beach, Florida. Prior to founding Lucky Bar and Grill, Gareth worked in a fast paced bar and grill called Scooters, where he
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We will target a medium radius around the West Palm Beach area, as customers in Florida are more willing to drive a long distance to experience a great bar scene. We anticipate our main customers will be between ages 21-35.
Marketing and Sales
Marketing for Lucky Bar and Grill will rely on a mix of broadcasting through targeted social media channels, participation in local West Palm Beach events and charity drives, and billboard advertising. Gareth Gamble is going in talks with local radio stations to promote its opening.
Financial Forecast
Lucky Bar and Grill anticipates making a profit of $30,000 in its first year due to a combination of excellent location, local competition, and a strong advertising campaign. We predict sales of $10,000 Year 1 Month 1, and over $22,000 by the end of Year 1 Month 12, representing a 120% increase in profits over the year.
Required Funds
Lucky Bar and Grill will require an investment or loan of $100,000 USD to cover the look, legal and accounting, furniture, fixtures, equipment, training, and any other costs associated with opening a bar and grill. $70,000 of these costs will be needed to fund the startup costs, and $30,000 will be the cash required to keep the company cash positive when paying for salaries and other first year
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Lucky Bar and Grill aims to position itself as the premiere spot in the downtown to meet your friends, meet new people, and have a good time. During daytime hours, it will aim to compete with other bars and restaurants by offering a menu conceived of by an award-winning chef. The menu combines a unique spin on common bar foods with economically priced ingredients. We believe that the quality of our food and the comfortable aesthetic will quickly create a strong base of loyal customers who will give great word-of-mouth recommendations.
Pricing
Food
To create Lucky Bar and Grill original twist on common bar food, its menu items require higher quality ingredients, spices, and flavoring. Our menu items will require a slightly higher than average cost for a similar meal made by our direct competition. Moreover, Lucky Bar and Grill location will suited to service these newer, richer residents. We believe that a slight increase in food prices for a higher quality product will appeal to this demographic.
Drinks
Pricing of drinks will be on par with our direct competitors. I believe that bar customers are most sensitive to alcohol prices, so in order to create a customer base, we feel that keeping alcohol income margins lower will be a better long term business strategy. Given the economic income of our customers, we believe that pricing alcohol the same as our competitors would be a
They have promotional activities to increase how many people come to the restaurant and how many people will come again
Nearly all of the company's restaurants are operated by franchisees. Moe’s is a business format franchise and is available for single-location or multiple-location deals. The franchise fee for a single-location deal is $30,000 non-refundable. In order to open a store location, a franchise is expected to have $200,000 in liquid capital and $600,000 in total assets. Moe’s Southwest Grill, a 2007 Top Ten Growth Chain according to Restaurant Hospitality and Technomic, is prepared for vigorous franchise growth.
The need among Americans to be diverted in ever more imaginative ways -- through high-thrill parks, virtual reality arcades, and theme restaurants, plays right into the hands of Dave Corriveau and Buster Corley, co-founders and CEO’s of Dave and Busters. The duo’s 50,000 square foot complexes include pool hall, an eye popping, cutting edge midway arcade, a formal restaurant, a casual diner, a sports bar and a nightclub rolled into one sprawling complex. In business since 1990, this is a high energy, highly efficient operation that’s comparable to a Vegas extravaganza. As a matter of fact there are even “for fun” cashless blackjack tables, with fake $10,000 chips. Pricey, but not outrageous, and you get value for your money.
The restaurants and bars are sale the bottled beers and kegs of beer to serve on draught. The restaurants and bars is across the GTA. The restaurants distribution help to promote the brand to new customers and provide an opportunity to taste the beers. Also, the restaurants provide signage of the beers on draught, featured in-house promotions of their beers or suggested menu pairings. The sale of Amsterdam is 44 per cent in restaurants and
The last recommendation I have for Applebee’s is to add some sort of interactive entertainment. Such entertainment could be bowling, table tennis, or even open mic’s. This will give customers a reason to either come or stay longer than they should which would increase the average amount spent by each patron. Hosting open mic’s (events where amateur poets,singers,comedians) will allow Applebee’s to become more involved with the community and help establish a relationship. Also, if a person is performing they are likely to invite friends and family which would result in increased sales. Providing alternative entertainment is something most local restaurants do, this would serve as a person to person promotional campaign.
It still has to launch some sales promotion to keep the existing customers and attract the new customers to try this kind of food. Therefore, the Boiling Crab should stimulate more sales by launching the periodic promotion. For example, every $50 gets five percent discount or free Cajun fired. This promotion may stimulate customers to eat up to $50 because we have to pay more than $50-60 with the number of people more than 3. The promotion can be modified based on each location. In the U.S. market for the restaurant, Yelp is the mandatory choice to draw attention of local people or people living in U.S. more than 1-3 months because whenever people travel to each location in U.S., they have a tendency to look for restaurants from Yelp. Therefore, the Boiling Crab may launch some promotion to encourage customers to check-in and review in each location, so the highest review will push the name of restaurant in the top rank in that location. The owner may offer free soda for each review. Moreover, Twitter, Facebook, and Instagram are the next choices to use to advertise the Boiling Crab because these options are quite popular for U.S. and other countries, like Thailand, Brazil, and Germany. These options help increase the customers both from local and foreigner. The advertising in the social networks is very
Companies and businesses that sell alcohol have a common interest in the issue of whether the legal drinking age should be lower...
Sterling Cooper values him and they depend on him to come up with new advertising ideas. When it comes to thinking of something new for Lucky Strike, he has no idea where to start. He even has a conversation with a man who smokes Old Gold and asks why he likes to smoke and if he would ever change. During this time, he is taking notes and brainstorming new ideas. Even when it comes to the meeting with the Lucky Strike owners, he still doesn’t have an idea. They get fed up and start to walk out the door when Don finally has an idea. He has an idea to use “it’s toasted” as their new advertising push.
The Great Transformation From A Casino City To a Resort Destination Atlantic City is the place to gamble on the East Coast. Although this may initially seem to be a positive characteristic, it is evident that this destination has the capability to be so much more than it already is. This point of interest has the world’s first boardwalk, which opened in 1881, has 4 miles of hotels, amusements, and casinos. Atlantic City was originally a resort town, until 1978, when it changed into a gaming city. This popular day-trip destination had over 34 million visitors in 1998 alone. Despite this amazing statistic, along with the revenue that gambling brings in, many steps are being taken in order to further promote the expansion of this great city. The renovations and improvements being made to the Atlantic City Convention Center are already increasing the amount of money coming in. There is a great deal of other things to focus on in the Atlantic City region. In endorsing local attractions in this scenic area, and in shifting the target market of this spot, this city would change back into a resort destination. When most people think of Atlantic City, the first thing that comes to mind is the casino attractions that are available. With the city’s constant shuffle and excitement, gamblers from all over go there dreaming of a big win. Many people consider Atlantic City to be the “Las Vegas of the East Coast”. There are over 12 casinos, with one building as magnificent as the next. At any given second of the day, these hopefuls may have their lives changed in an instant with just one win. These casino hotels gain most of their income from gamblers. Casinos employ almost 49,000 people every year. This number should actually jump when the Marina District opens. Although Atlantic City prospers as a gambler’s paradise, many would love to show others just how much more Atlantic City really has to offer its tourists. The Atlantic City Convention Center, built in 1929, was renovated with $72 million in 1997. With the world’s largest pipe organ, everyone from the Beatles to Pavarotti has played there. It was designated a historic landmark in 1987. Conventions, trade shows, meetings, and public events of the greater Atlantic City area all take place here. When the renovation is finally completed, it will seat up to 12,000 people for special events.
Hard Rock Café used to serve only American food, as time passes it’s been evaluated to chain restaurant brand in different cities. They then added live concerts and in-restaurant shops. Nowadays, they also serve more high-end products i.e. lobster tails. Processes are changing during those development stages.
In late 2014, online casino owner Cassava Enterprises introduced Lucky Reels Club Casino. Through the site's first six months of operation, it has proven to be reliable and is gaining in popularity. Of course, that doesn't come as a surprise given Cassava Enterprises' affiliation (a subsidiary) with the online gaming industry giant 888 Holding Limited. General Overview Upon hitting the site's home landing page, the player is greeted with a "roaring twenties" theme that evokes a sense of elegance and excitement. Overall, the site uses a very colorful motif and is organized in such as fashion as to make everything easily accessible to the players.
Ruth’s Chris house has been a successful franchise in all the four restaurants existing outside US, and in this regard, the company seeks a breakthrough into other new international markets. The best business ground worth considering presents Brazil as the next destination for Ruth’s Chris as far as international expansion is concerned. A look into the prospects of Sao Paulo in Brazil as the next target requires a SWOT analysis of the new ground that would aid in the assessment of the finer details of the prospects that await Ruth’s Chris as a franchise.
My tavern would be called The Lucky Charms Tavern and I would like to establish it in Carlow, Ireland because Carlow is about 52 miles from Dublin which does not put me in competition with more established Taverns but still allows me to be near where the tourists are as well as the rural and city residents. The Lucky Charms Tavern would be a blend of my American roots and the local culture. My tavern would offer local brews as well as a few import beers and alcohols, homestyle American food and local classics as well as lodging.
The Mongolian Grill is a restaurant with a unique concept. It prides itself on not only delivering good food, but also an original dining experience that leaves customers wanting to come back. The restaurant uses four features to help accomplish this: An entertaining and interactive atmosphere, fresh and healthy food, unlimited quantities, and customer involvement in the meal preparation. The restaurant owner, John Butkus, is looking to finalize the operation decisions for one of his future restaurants, which will be located in Waterloo, Ontario.
It will provide entrepreneurs with a competitive edge that will prove invaluable in helping them seek the opportunity in this unexplored area of business. Through this research project one can study the opportunities and potential for Fast Food Restaurant Services in India. Since not too much of research is carried on in this area in India, there is a huge scope for this market and it could be useful for any budding entrepreneur who is interested in this industry.