Market Location Customers The Washington Square Area example essay topic

Vincent Allen English 195 Vinc's Restaurant Service, Inc... Business Plan Report Company SummaryVinc's Restaurant Service, Inc., a Savannah GA. based company, will operate Savannah, a single unit, medium-size restaurant serving healthy, contemporary style food. The restaurant will be located at 118 Croat an Street Savannah GA. 31406.

Executive Statement The Company's goal is that of a multi-faceted success. Our first responsibility is to the financial well-being of the restaurant. We will meet this goal while trying to consider; 1) the effect of our products on the health and well being of our customers (and our staff), 2) the impact that our business practices and choices will have on the environment, and 3) the high quality of attitude, fairness, understanding, and generosity between management, staff, customers, and vendors. Awareness of all these factors and the responsible actions that result will give our efforts a sense of purpose and meaning beyond our basic financial goals.

Service Summary There will be three ways a customer can purchase food. They may sit down at one of the 54 seats in the dining room and get full service from a waitperson. A separate take-out counter will service those who wish to pick up their food. Most take-out food will be prepared to order with orders coming from either the telephone or fax. Delivery (an indirect form of take-out) will be available at certain times and to a limited area. The Target Market The market for Vinc's products covers a large area of diverse and densely populated groups.

Although it will be located in a downtown urban setting, it is an area where people travel to eat out and one that is also frequented by tourists. It is also an area known for and catering to the demographic group we are targeting. Market Location & Customers The Washington Square area is one of the most desirable retail locations in Savannah GA. There are more than 150 businesses in a 1/4 square mile area with average sales of $330 per square foot.

The customer base will come from 3 major segments; 1. Local population -- the city of Savannah with a year-round population of 145,000 is centrally located in the Savannah area and is within 15 minutes drive of 8 major suburbs. 2. Colleges and Universities - Savannah State alone has 6 different schools within walking distance of Croat on Street and a seasonal population of 22,000. In addition 3 more colleges near the square have large student bodies. 3.

Tourism -- between hotels, motels, bed & breakfast rooms and inns, there are over 8,500 rooms available. Last year they were at 92% occupancy. Strategy Summary There are three major ways in which we will create an advantage over our competitors; 1. Product identity, quality, and novelty 2. High employee motivation and good sales attitude 3. Innovative and aggressive service options.

Financial Plan Start up Capital 300,000 Breakfast Lunch Dinner Average Check 2, 57 7.11 9, 31 Weekly Covers 700 1.750 1.050 Weekly Sales 1,800 12,441 9,772 Total Yearly Sales 1,248.661 Food Sales 1,060.655 Wine & Beer Sales 123.933 Liquor Sales 64,073 Total Yearly Payroll 370,032 30%Food Cost 25%Wine & Beer Cost 40%Liquor Cost 24%Occupation Costs 147,600 Net Profit 83,187 Break Even 1,070.558.