References in This Document to Finale Sports Bar & Grill
finale sportsbar and grill that will deffenitely swit your needs. its deffenetely your plan – helpful and genious. pleasem enter more descriptive title Business Plan For Finale Sports Bar & Grille Executive Summary References in this document to “Finale Sports Bar & Grill,” “company,” “we,” “us” and “our” refer to the business of Finale Sports Bar & Grill.
Finale Sports Bar is a growing restaurant featuring a variety of boldly flavored, made-to-order menu items. Our restaurants create an inviting neighborhood atmosphere that includes an extensive multi-media system, a full bar and an open layout, which appeals to sports fans and families alike.
Our concept offers elements of the quick casual and casual dining restaurant concepts featuring a flexible service model that allows our guests to choose among convenient dining options such as quick casual counter service, casual dining table service or take-out. Our award-winning food and inviting atmosphere, combined with our guests’ ability to customize their dining experience, drives guest visits and loyalty. We want to establish our brand through coordinated marketing and operational execution that ensures brand recognition and the quality and consistency of our concept.
These efforts include marketing programs, award-winning advertising to support our restaurant. Our concept is further strengthened by our emphasis on operational excellence supported by stringent operating guidelines and comprehensive employee training. Our business goal is to continue to grow and develop the Finale Sports Bar & Grill. To do so, we plan to execute the following • Offer a boldly flavored menu with broad appeal. • Create an inviting, neighborhood atmosphere. • Enable our guests to customize their dining experience. Continue to strengthen the Finale Sports Bar & Grill name. • Focus on operational excellence. • Increase same-store sales and average unit volumes. Introduction Finale Sports Bar and Grill will strive to be the premier sports theme restaurant in the Sunny County region. This will be the first sports bar in this region. At this sports bar we want our customers to have more fun during their leisure and dining time. The sports bar will provide more televisions with more sporting events than anywhere else in the region.
The sports bar will provide state-of-the-art table-top audio control at each table so the customer can listen to the selected program of his or her choice without interference from background noise. The sports bar will combine menu selection, atmosphere, lighting, and service to create a sense of excitement in order to reach our goal of over-all value in a dining and entertainment experience. Finale Sports Bar and Grill will be held privately by a LLC company which will be owned by Jack Johnson to financially back the new business venture.
I will still be the principal owner of the bar. In order to start the company I will have to get a loan of an undisclosed amount (not known at this time). This loan will provide start up capital, financing for a building and supplies, pay for permits and licensing, employee training, and anything else that should arise. The expected open date for this bar and grill will be December 10th, 2006. This will give us the opportunity to serve customers for New Year’s and the Super Bowl. Industry Analysis This restaurant industry is very large and sometimes hard to get exact numbers.
There are many categories of restaurants so I outlined Services sector and the restaurant industry according to Yahoo finance. “The nation’s 900,000 restaurants should hit $476 billion in sales in 2005, according to the National Restaurant Association’s 2005 Restaurant Industry Forecast”. Restaurants employ12. 2 million, this is 9% of the workforce in the United States, and the industry is the largest employer besides government. These numbers include single owner restaurants to the largest franchises in the world. The growth trends for the restaurant industry are forecast to advance 4. 9% in 2005.
Analyst predict that the U. S. Restaurant Industry which created, on average, about 270,000 new jobs per year during the last 10 years is on track to add 1. 8 million new jobs during the next 10 years. On a typical day, the industry will post average sales of $1. 3 billion. The industry trends to watch: • Greater use of technology and worker training as a means to boost productivity and efficiency. • Continued increased focus on healthy lifestyles and restaurants providing customers with choices and customization. • Increased upgrades and improvements in decor and becoming environmentally friendly.
The sports bar & grill will have to serve several market sectors. We will have a family atmosphere as well as cater to the sports enthusiast. The restaurant will have to serve multiple uses; for example workday lunch, dinner with the family, watching the big game, late-night cravings, and take-out. There will be eating and drink and sports being watched but I plan to have different sections for different dining experiences. There is a wall that divides the bar area from the family (I say family area but this is just a little quieter) area. No matter where you sit there will still be TV’s so you can watch sporting events.
The regulatory issues I’ll have to look more closely into are the liqueur licenses, wages for employees, building permits, and any local ordinances that may affect my business. Organization Finale Sports Bar and Grill will be held privately by a LLC company owned by Jack Johnson. The restaurant will be located in the town of Car. Car is great for tourism so a local restaurant should prove to be a good business venture. The restaurant will need to serve several market sectors. It will have a family atmosphere as well as to cater to the sports enthusiast. The restaurant will have a lunch menu, dinner menu, and the bar menu.
The restaurant will also have weekly happy hour drink specials along with lunch and dinner specials. To help save on insurance cost and claims top management will stress safety, stress safety, and stress more safety. Safety starts with the hiring process. The company will be thorough in efforts to screen employees and will consider pre-employment drug tests. This should reduce on the job accidents that lead to insurance claims. The insurances for the restaurant will need to acquire will be workman’s compensation, property & liability, liquor liability, and health insurance.
Workman’s compensation covers employees in case of harm attributed to the workplace. The property and liability insurance protects the building from theft, fire, natural disasters, and being sued by a third party. Liquor liability insurance provides coverage for bodily injury or property damage for which the insured may be held liable for contributing intoxication to any person. The company will need liquor liability insurance before liquor licenses is granted. Employee health insurance will be provided for the full time employee and will probably be the most expensive.
I could not find any actual prices for insurance cost so I went through an online insurance company. So I’m waiting on the price quote for complete insurance cost; I should have it by the end of the day. The restaurant will need to get numerous licenses to operate. They include: • A food service license is required with your local health department. • A sales tax license is required through the Michigan Department of Treasury. • A liquor licenses filed through the Liquor Control Commission. Restaurants and bars pay $600 a year for a liquor license. An entertainment permit is required with the Liquor Control Commission in addition to the liquor license. • If cigarettes are sold by a vending machine, the restaurant will have to contact the Department of Treasury After sales top $100,000 the restaurant will higher an outside accounting firm to handle the books. We will forecast a sales growth of 10% per year. The company will gain market share because the quality of the meals and the friendly experience. Management/Human Resources At the present time Jack Johnson will run all operations for Finale Sports Bar & Grill.
Other key personnel are the assistant management positions, bartenders/hostesses, waiters/waitresses and cooks. There is not expected to be any shortage of qualified and available staff and management from local labor pools in each market area. Benefit plan for full time employees • Health insurance will be provided for all full-time personal. • One paid vacation week after a year of employment. • Three sick days will be provided • 401k option if employee desires • Dental will be on a 60/40 pay program • Education reimbursement will be provided on books only Jack Johnson will be the owner and manger of Finale Sports Bar & Grill.
His general duties will be to oversee the daily operations of restaurants, inventory and ordering of food, equipment, and supplies and arrange for the routine maintenance and upkeep of the restaurant, its equipment, and facilities. The manager will take a monthly drawl of $2,500 per month. There will be two assistant managers for the restaurant and their duties will be to oversee the personal when the manager is not available. One of the managers will deal mainly with the cooks and the other with the wait staff and bartenders. Each assistant manager will be paid $12. 50 per hour and get the benefit plan.
There will be four cooks and each scheduled to work at least forty hours a week. They will have eight hour shifts and get paid $10 per hour. The benefit plan is also provided. The will be three hostess/bartenders, they will be able to do both duties. They will be able to get forty plus hours a week if they desire. They will get paid $6. 00 per hour and also receive the benefit plan. There will be seven to ten waiters/waitresses on staff. The will also have to clean the table as well as wait on customers. There will be some part time positions and full time positions. They will get paid $2. 5 per hour and whatever there gratuity is. Manage Team Structure Top Manager | | Assistant managers | | | || Cooks Hostess/Bartender Waiters/Waitresses As soon as the restaurant gets past $300,000 in sales an outside accountant will be brought in and will be in charge of the books. Employees will be trained not only in their specific operational duties but in the philosophy and applications of our concept. They will receive extensive information from the managers and be kept informed of the latest information on healthy eating.
For process and benchmarking a big emphasis is being placed on extensive research into the quality and integrity of our products. They will constantly be tested for our own high standards of freshness and purity. Food costs and inventory control will be handled by our computer system and checked daily by management. Operations The key food suppliers for the business will be Sysco Foods or Gordon Food Service. These two suppliers supply the same goods so the restaurant manager will choose which vendor to do business with. The restaurant will select with the supplier that provides us a store credit, has exceptional elivery times, and has the best overall prices. We will get the office supplies from Office Max or Staples. The rest of the restaurant supplies (pots, pans, silverware, cooking utensils) will come from Atlas Restaurant Supply. The inventory management and order taking and processing will all be done on touch screen monitors placed throughout the restaurant and bar area. We will have to buy the touch monitors and maybe even a couple hand held order entry units. The software the business will use is from Digital Dining, which is the premiere restaurant software. This software can be altered to the businesses needs.
The software will include a point of sale menu, inventory control analysis, credit card sales, bar and quick serve menu, office management, and much more. With this software there are so many applications it could do I could write the paper on this alone. We will provide ongoing training programs to assist with customer service and quality control. The training will include preparation of menu items, quality and food portion control, beverage and inventory management, using the software, cleanliness, organization and sanitation standards, marketing and public relations.
The facility size the business is looking for is building with a seating capacity of around 100 to 150 people or 25,000 sq. feet. This may sound big but if there is a big sports event we want to pack them in, or people just don’t want to sit next to other people this would give them space to spread out. The business will need to get all the kitchen hardware needed to run a restaurant of this size; this includes stoves, refrigerators, freezers, microwaves, deep fryers, and many other items. We will also have to buy the big screens televisions, audio equipment, arcade games, and the table top monitors with there own audio control.
When benchmarking we will compare our business to a larger business in a larger geographic area, mainly Buffalo Wild Wing’s or Applebee’s. The business will measure and compare the number of guest per day, number of meals and drinks served, cost of supplies, and the waste percentage. With all these we should be able to be the premiere bar and grill in Sunny County. Competitive Analysis Finale Sports Bar and Grill is a casual dining restaurant. The geographic area that Finale Bar and Grill will cover is mostly Car and surrounding smaller towns.
According to Dun & Bradstreet analysis of businesses located in Sunny County they are classified under SIC code 58, eating and drinking places. With this bar and grill, I hope to move in on the customers traveling to bigger cities for their eating and entertainment needs and in return increasing my market share. There are many small restaurants in the area but none with the sports bar and grill theme (shown in the appendix). The sales for the restaurants in this area range from under $200,000 up to $2. 4 million. The closest sports bar is in Ridges, which is a forty minute drive away.
The current restaurants located in Car offer a casual dining experience but with no sports watching entertainment. The top competitor is BW3’s which is in Ridges. BW3’s is a sports bar that offers an extensive menu with chicken products, full bar service, and sporting events on many TV’s. BW3’s has the same target market that I’m trying to furnish to. They have a casual family dining experience and sports bar theme one in one restaurant. I will differentiate myself from BW3’s by offering a full menu selection, close to home atmosphere, and a dining experience free from stress.
BW3’s SWOT analysis will help me to better understand my business, determine my target market, and develop a marketing plan. Strengths • Has name recognition • Offers a chicken filled menu and full bar selection. • Target market is anyone that would like to watch sports in a bar or restaurant atmosphere. • Uses TV and radio commercials to communicate to their markets. • Offer high quality audio and video equipment for their customer viewing and listening pleasures. • Location • Staff Weaknesses • Location is a long driving distance from Car • Offer mainly chicken products, some shrimp, and maybe a couple burgers.
Opportunities (for Finale Sports Bar) • Finale Sports Bar could offer a full restaurant menu. • Could take market share away from nightclubs. • Entertainment for children • Family friendly atmosphere • Close location Threats (for Finale Sports Bar) • Another sports bar could move into this area. • Fast food chains, people could get their food and watch sports at home. • Increase food prices • Inflation affecting operations for food, labor, and restaurant operating costs. • Keeping trained efficient staff. • Economy- people getting laid off and spending less money eating out.
Other competitors of Finale Sports Bar and Grill are fast food chains such as McDonalds, Subway, Burger King, Taco Bell, KFC and Wendy’s. While these are not direct competitors of Finale Sports Bar and Grill because of the different market niche that they operate in, these companies still compete for the same market share of individuals dinning out. And all the fast food companies are within the same geographic area. Marketing Finale Sports Bar & Grill target market is based on serving the sports enthusiast, the business entertainer/owner, tourism, and the local night crowd, as well as families dining out.
We want a variety of customers and will make sure everybody can enjoy Finale Sports Bar & Grill experience. Finale Sports Bar & Grill is planning on opening on December 10th and having a grand opening on January 10th. The opening date will be a couple weeks before the grand opening and this will allow the employees to become familiar with the operations and customer interaction. The grand opening will be advertised in the local papers and on the radio. Once the newness of the restaurant has subsided, Finale Sports Bar & Grill will pursue an ongoing marketing campaign targeted at the local market. Pricing
All menu items are moderately priced. An average customer bill is between $5 and $15 including food and drink. Bills will be considerably larger for game day visitors. Our goal is to keep the customer happy and in the end they will spend more. At Finale Sports Bar & Grill we tend to believe that this is due to us creating an atmosphere that encourages longer stays and more spending but still allows adequate table vacancies due to extended hours of business. Promotional Tools • Advertising o Wall posters advertising specials and menu items o V. I. P. parties available o In-store tour given to every new customer Outdoor message board changed weekly or daily o Grand Opening celebration o Yearly store birthday parties to celebrate the success of each year o Telephone book the business will a large advertisement in the local phone book • Local Store Marketing / Public Relations o School programs – perfect attendance, honor roll, management internships o Local charity carwash site or clothes donation site o Customer raffle for sports jersey’s or gift certificates o Sponsor local softball teams, these will be jersey’s with Finale Sports Bar & Grills name on it. Local Media o Direct mail – containing interior pictures of our restaurant, our prices, “Theme Nights,” and an explanation of our concept o Radio campaign – complete with live remotes in our parking lot. We will pick the three top local stations with which to place our short and catchy ads. We will also sponsor radio call-in contests with free meal coupons to Finale Sports Bar and Grill as the prize. We will also make “live on the air” presentations of our food products to the disk jockeys, hoping to get the promotions broadcasted to the listening audience. Newspaper campaign – placing several large ads throughout the month to explain our concept to the local area o Cable TV – will be a possibility if we can secure favorable rates with enough frequency. o Restaurant web page – this will give the internet users access to menus, daily specials, weekly promotions, and even placing pick up orders Finale Sports Bar & Grill marketing budget will be a flexible five thousand per quarter. Being flexible in the marketing budget will let the advertisers adjust for different sporting events such as the Super Bowl, Stanley Cup, NBA finals, NASCAR events and the World Series.
The marketing budget can be allocated in any way that best suits the time of year as long as there is always a flyer being distributed to the local papers. To monitor how well Finale Sports Bar & Grill is doing we will measure how well the advertising campaign is working. We will take random survey’s of the customer that or in the restaurant. What we would like to know is how the heard of the restaurant and how they like it. In order to get responses to the surveys their will be discounts given to their order.
Sample marketing budget (per quarter) Newspaper flyer – $1250 Radio advertisement – $1000 Web Page – $500 Customer raffle – $250 Direct mail – $750 Cable TV – $1250 $5000 The Sales plan for Finale Sports Bar & Grill is train the wait staff to have extra’s added onto the order. The wait staff will be trained on when to ask the customer if they would like appetizers, deserts or additional menu items. Few things are more important in any business then positive training of staff that leads to productive and profitable results.
Simply put – the better the training, the better the service. And in the end the better the service the employees have, the greater the returns on every aspect of your business. Finale Sports Bar and Grill will be committed to maximizing our purchasing power by building lasting relationships with local vendors and companies that will benefit all areas of our business. We will work directly and closely with all related industry contacts to ensure our restaurant the highest quality products and merchandise at best available prices.
This will cover all aspects of our business from food & bar purchases to retail and merchandise items, fixtures and equipment. Assumption Page • Organization The cost for insurance FICA = 6. 2%, MCARE = 1. 45%, MESA = 2. 7%, FUTA = 0. 8%. This will equal a payroll tax about 11%. • Management / Human Resources Finale Sports Bar & Grill plans to employee 10 to 20 employees. The hours are 11:00 AM till Midnight, seven days per week. 4 Cooks @ $10/hr, 7 Waitress @ $2. 65/hr, 3 Hostess/Bartender (they can also do other job duties) @ $6. 00/hr, 2 assistant managers @ $12. 0/hr. Open 360 days / year. • Operations The operating expense for each month will include bank payment, supplier payment, utilities and insurance. The bank payment will include cost of the new facility, all equipment, and other operating expenses. The business owner will contribute $25,000. • Marketing There will be a marketing budget of $5000 per quarter. There will be extra marketing money for the grand opening celebration. The amount of the financing needed from the bank will be approximately $300,000. This will be repaid over the next 10 years at $3,350 per month.