How to Open a restaurant, openTables complete digital guide to starting and growing a restaurant business. We partnered with hospitality you consultant Alison Arth to share tips, stories, and best practices from the best in the business (think the groups of Daniel boulud and Danny meyer, plus restaurateurs gavin kaysen and Aaron London). Plus: were giving away a 38,000 prize package to help one restaurant industry professional fund his or her dream project! Over the next few weeks, well be excerpting some of our favorite (and most valuable) content from the guide. Today, its all about how to build a business plan that makes investors pay attention. Read on, then get the guide and enter the contest here. Your business plan will be the road map from which your new restaurant develops. No matter how much thought youve put into your concept or how many trusted colleagues have assured you of its greatness, you absolutely must write a business plan. It will prove the viability of your concept to potential investors and provide them with a clear and engaging answer to the question: Why does the world need this restaurant?
Leave it to linda catering already has an established clientele in the area. Controlling costs at all times without exception. Due to intense homework competition, restauranteurs must look for ways to differentiate their place of business in order to achieve and maintain a competitive advantage. The founders of Gabri's realize this. With the re-development of Long Branch, it needs a place that will fit into the 'new look' of the community that is sophisticated and entertaining. The fact that no other restaurants in the area has this concept and atmosphere presents us with a window of opportunity and an entrance into a profitable niche in the market. Last week marked the launch.
Create your own business plan.3 keys to success, 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 a cozy atmosphere. Not only great food but great service and atmosphere. The menu will appeal to a wide and varied clientele. It is International with an interesting twist. We will have special theme nights like restaurant nights, local artist's openings, easter dinners, Swedish Midsummer party, fourth of July celebration, labor day weekend, wine tasting dinners, special ethnic food nights, and Swedish smörgåsbord. All this will attract a varied clientele to gabri's.
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Everyone essay will be treated fairly and with the utmost respect. We want our employees to feel a part of the success of Gabri's lounge and Restaurant. Happy employees make happy guests. We will combine menu variety, atmosphere, ambiance, special theme nights and a friendly staff to create a sense of 'place' in order to reach our goal of over all value in the dining/entertainment experience. We want fair profits for the owners, and a rewarding place to work for the employees. 1.2 Objectives, gabri's lounge restaurant's objectives for the first three years of operation includes: keeping food cost under 35 revenue. Keeping employee labor cost between 24-29 of revenue.
Stay as a small restaurant with excellent food and service. Averaging sales between 1,000,000-1,500,000 per year. Promote and expand leave it to linda catering in New Jersey new York city. Expand our marketing and advertising in New Jersey and New York. Achieve 12 return on investment to investors for the first two years and 15 for the next three years. We recommend using liveplan as the easiest way to create graphs for your own business plan.
We have created financial projections based on our experience and knowledge of the area. With a start-up expenditure of 385,000 we can generate 1,085,465 in sales by the end of year two, and produce good net profits by the end of year three. We are seeking an sba 7(A) loan guaranty for 200,000 with a 7 interest rate. We are investing 60,000 of our own capital and seeking to raise an additional 125,000 from investors. Our preferred instrument will be five year subordinated notes with an attractive coupon rate of 12 for the first two years and 15 for the remaining three years. . At the end of five years the investors' notes will have matured and original principal plus a 2 premium and the final interest payment will be made.
Our investor philosophy is conservative. Since restaurant start-ups are so speculative our belief and commitment to our investors will be to pay a generous, predictable rate of return while not strangling our operational cash flow. As our business becomes more established and reliable, our ability to pay an improved return of capital will be evidenced by an increased coupon rate of 15 of original principal. At maturity we feel it proper to retire the notes with a 2 premium to original principal invested. 1.1 Mission, gabri's is a great place to eat, combining an intriguing atmosphere with excellent, interesting food. The mission is not only to have great tasting food, but have efficient and friendly service because customer satisfaction is paramount. We want to be the restaurant choice for all families and singles, young and old, male or female. Employee welfare will be equally important to our success.
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We feel in today's hectic work schedule customers don't always have time to set up that birthday party or other event that we all need and make want. Now customers can leave it to pros and get the finest, most memorable party or dinner ever. We have years of experience in the catering business and know what an important client wants and needs. We will have a large International menu for customers to select from, and we will offer full catering service providing everything from table settings to the dessert. We anticipate our total sales allocation to be 85 restaurant sales and 15 catering sales. The combined cost of sales will be 33 producing a gross profit of 67 on total sales. Most important to us is our financial success and we believe this will be achieved by offering high-quality service and excellent food with an interesting twist.
Warm colors, fresh flowers, soft music, candles and amazing artwork from some of the areas most notable new artists. This will contribute to a sense of community and give new artists a chance to show their work for a diverse clientele. During the busy summer months you can also sit outside on our patio and we will offer a special summer menu, featuring lighter fare, exotic drinks, as well as non-alcoholic offerings. The patio and garden setting will be a fun and casual atmosphere for the summer crowd. The service will be relaxed, very friendly and correct. We will hire the best people available, training, motivating and encourage them, and thereby retaining the friendliest most efficient staff possible. Our management team is comprised of individuals whose backgrounds consist of 50 years experience in food, restaurant and hotel, catering, management, finance, marketing, art and motion pictures. Catering will be a major part of the business. "leave it to linda catering" already has an established clientele and we are growing each and every day.
with basmati rice, or an Asian grilled shrimp with spinach, tofu and black bean sauce. We will also have a special pasta dish entree every day plus the 'all American meal' such as barbecue beef ribs and baked beans. Adding value will be an interesting business lunch menu with specialties every day. The menu will change every 3-4 months but keep the favorites. Prices will be competitive with other upscale restaurants in the area. However, it is the strategy of Gabri's lounge restaurant to give a perception of higher value than its competitors, through its food, service and entertainment. The lounge and restaurant will be open seven days a week. We will offer special theme nights to attract new customers to gabri's. The restaurant will be fine dining in a cozy atmosphere.
Of commercial space, and over 700 residential units with condo and townhouses ranging from 200,000-500,000; rentals from 1000-2,500 a essay month, and a two-tier garage. The combination of these elements will provide the city with a year-round economy. The area is in need of a warm and friendly place with excellent food. A place where you always know you will get the best of everything. Gabri's lounge restaurant will feature a cozy dining room and an elegant lounge. Comfortable furnishings and decor with soothing warm tones. The lounge has comfy couches and antique love seats with a softly lit bar. It will be the perfect place to stop in for a bite to eat, for a drink or for a small business meeting. For extra comfort and to please a large group of people we will make up special hors d' oeuvre platters for customers.
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Gabri's lounge restaurant is a 60 seat fine-dining restaurant with twist a 20 seat lounge. We focus on our New American-Swedish menu with a touch of Asian influence. We will be located in the booming, and rapidly expanding, borough of Long Branch, new Jersey 'on the shore.'. The outlook for the future of Long Branch is promising. Developers are recreating a 150 million first-class resort project. The old pier will be rebuilt with ferry service to manhattan, new York city, beach cabanas, boardwalk and a bike path over a total of 25 acres. There will be 100,000.