A new branch of d industry essay

Past experiences that qualify Pooh-Luscious are previously running two successful restaurants until selling, and being raised into the restaurant industry, learning many skills from my uncle, who was also a successful restaurant owner.

Pooh-Luscious will be successful because of its superior pooh at an affordable price. It will also succeed as the customer service will be superior to competing pooh restaurants. Usual pooh restaurants are quick serve and simply serve food with no follow up. Pooh-Luscious will differ itself from these competitors with the excellent customer service our training will provide. Along with excellent customer service, Pooh-Luscious will succeed because of the spacing of the restaurant. Many restaurants are cramped and customers are put very close to each other. With a total square footage of 2000, the tables will have an approximate three feet more space between tables. What Pooh-Luscious has projected for the first three years is a planned loss of $61 , OHO.

The second year has a profit of $36, 000. In this second year, two more employees will be added to the team, one full time and one part time, adding to the already two full time and one part time. What the third year has to offer is a profit of $87, 000. With this projected profit, you, the investors are looking at a successful business that will thrive in the industry. Turnover rates of restaurant employees Pooh-Luscious will base its success starting with the employees. Keeping our employees with the restaurant is vital as happy employees exert their Jubilant feeling onto the customers; the best way to get our employees to perform great customer service is by treating them the same way.

Pooh-Luscious is again asking for a loan of $69, 91 5 to begin in a new adventure and have a new pooh restaurant in Woodpile, WA. II. INTRODUCTION Pooh-Luscious is a Pooh restaurant that will be serving Vietnamese cuisine as a dine-in restaurant. Pooh-Luscious will be located in Woodpile, WA.

My restaurant will be serving the people fresh noodle soup and give quality food with a quality price. This will be a successful business because of its new innovative ideas to advertise the business. With a few investments, Pooh-Luscious will be starting off strong. Pooh-Luscious is looking to serve the community not only as a restaurant, but as a community where anyone can come in and have a bowl of pooh.

This restaurant was made to give a loser pooh restaurant to the people of Woodpile as many need to drive distances to get pooh. Pooh-Luscious will bring a better meal to great people. The person you will be working with is me, a former entrepreneur who built up and sold many restaurants. As a business professional, I have marketed two restaurants to success and have 8 years of experience in the restaurant industry. Therefore, the experience is here and I bring networks that can help network Pooh- Luscious to the top of the industry.

Other restaurants will lose to my pooh shop. Pooh-Luscious will succeed as my passion for the industry will push me beyond those f my competitors. The training my employees will receive will show the standards that will be held by myself and the restaurant. Having grown up in the restaurant industry, my years of being mentored from my uncle, a successful business man, will give me the experience and skills to beat my competitors. A pooh restaurant that serves large bowls and delicious pooh is tough to come upon. Pooh-Luscious has many unique selling points and has superb customer service. There are major competitors near Pooh-Luscious that are not on par with my restaurant.

My restaurant will provide higher quality food and higher quality customer service. Through rigorous research and studying, I have identified trends in the pooh business that will help my restaurant sore to the top. Along with trends, the location of my business will help attract a wide variety of customers ultimately increasing my target market and range of customers. The superior location of Pooh-Luscious will attract a large portion of people to come. Here is a map of where Pooh-Luscious will be held: The blue dot under the “ Woodpile” label is where Pooh-Luscious will be located. This location is a prime area as it is Just off the exit of Freeway 522 and in the central location of a highly populated area. This area is also near a lot where there are many clothing branches; however none of the few restaurants near there are of Vietnamese cuisine.

Making this location the best possible place for Pooh-Luscious to be giving the store a great location. After finding Pooh-Luscious because of its great location, customers will be attracted to the option of having MS (Monogamous glutamate) or not in their pooh. MS is a type of salt that is used in many Asian foods to season the food. However, MS has unhealthy properties that some customers do not enjoy.

Pooh-Luscious will be offering to not use MS in their pooh upon request. However it will be made with regularly. Ill. ANALYSIS OF THE BUSINESS SITUATION Pooh-Luscious will completely describe the target market and talk about the competition. The target market will be analyzed and explained to you, the investors.

The competition in the Woodpile area, where Pooh-Luscious will be located, will be described in their weaknesses and strengths, and how we will have a competitive advantage over them. A. Trading Area Analysis The following section will enclose an in depth analysis of the geographic and demographics of Pooh-Luscious.

Along with this, we will thoroughly analyze the target arrest after a great description of who exactly our target market is. 1 . Geographic and demographic information Pooh-Luscious will be located in Woodpile Just off the freeway Encompassed in the circle is where most of my competition’s re This circle is approximately a five mile radius around my locate competitors are already thriving in this well-populated area. AY competitors already have locations set up in this area, Pooh-Licit superior as it is right off the freeway, the main transit in the AR Map of location Pooh-Luscious will be a restaurant with a square footage of s, T’ square footage comes to an annual lease of $60, 000. The Mont lease will be $5, 000.

The restaurant will be 2, 000 square feet b in tables with an even spacing throughout the store, having MO tables is a key selling point of Pooh-Luscious, therefore, we are take into the 2, 000 square foot building space. See page 3 of ape A normal size bowl of pooh is not as large as the bowls at Ph are molar c emperor the largest bowls comparing to our market competition near us about 2. 5 miles away from Pooh-Luscious. This shop however doe size bowl nor does it give the option to have MS removed fro However one of our main unique selling points is the larger b s located below.

Luxurious bowl Competitors bowl The bowl of pooh that will be served is the bowl on the right. HTH larger but is off higher quality than the bowl on the left. Not o be bigger, but the entire bowl of soup will have a superior taste 2.

Market segment analysis of target market The target market will consist of middle aged individuals, RA age of 20-40 years old. In this target market, there are a wide v Luscious plans to target all of them and keep most of them as re range of their income will be Repeat business portion of the target market. The ratio of men to women in this men and 40% women. Our perfect person in the target market is this man John.

Jog white male that makes $90, 000 annually and has a family of 4 daughter and son. John is pictured here with his family. John and family The current average income of males in Woodpile is Just u data). By targeting people like John, Pooh-Luscious will be markets the people in the area. Also, John is 35 years-old, making him Juju male in Woodpile at 38 (city-data). The demographic Pooh-Luscious is attempting to target are pee for a quality meal over an inexpensive one. However, Pooh-Licit quality, but will be offered at a price that is reasonable and reflects Pooh-Luscious is looking to make many repeat customers and get much through the same people keeping loyalty in the customers.

B. Com 1. Primary competitor’s strengths and weaknesses Choices are what make my restaurant, Pooh-Luscious, better than m Local competitors such as McDonald’s and K. F. C are striving fast-off with a known brand name. However, there are no options on their f alarm Customizable of food is a new trend that has been breaking out years.

Pooh-Luscious will follow this trend with the ability to have a vary pick and choose from on the menu. The area has no competitors wit there will be a bright change in the area’s industry. . Competitive advantages and disadvantages of the proposed b Pooh-Luscious brings the customization of foods to a new branch of d industry. Usually the choice to use the customer’s own ingredients c restaurants that serve lower quality food; Pooh-Luscious will bring record and quality food to the table.

As well as customization, pooh is served with MS, a flavor enhance frowned upon by some. To increase the target market and potential less Luscious will be offering a MS-free meal while still appealing to the c enjoy MS by making the food with. The quality of the food will b competitors near the location as those are fast-food chains with low The only thing that Pooh-Luscious does not bring is the quick service chains. The competitors in the area, McDonald’s and K. F.

C. , all Provo couple minutes. Pooh cannot be made that quickly and the amount o these restaurants can afford is greater than a start-up business. Co challenged not with the speed of my food, but with the quality of it. Comes with the slogan “ economical extravagance” in order to show at a price that is not for the frugal, however it is not overpriced tithe OPERATION OF THE PROPOSED BUSINESS Pooh-Luscious will be run with the mission of bringing quality pooh t of Woodpile.

This process begins and ends with the employees w restaurant. Pooh-Luscious is a pooh restaurant that will increase the qua service with a superb staff. The restaurant will be run by the drive a working at Pooh-Luscious to make the business thrive in the industry. Business and Organization Pooh-Luscious will be open from 11 a. M. To 10 p. M.

Given this time f four months, the two hired and trained employees will be working 1 There will be two different Jobs performed by the employees: one e the kitchen preparing and creating the food, the other employee will cook in preparing the food in busy times. During slower hours, this e waiting tables and distributing meals to the customers. The role that I will play during restaurant hours is to wait tables out to the customers.

The role of waiting tables is vital as there is a with the customers and it defines Pooh-Luxurious definite, superb cuts the opening months of the restaurant, there will not be an overload this can be utilized to our advantage as when either myself or the other employee serves the table, the customers can be swayed into returning back as a return customer. Communicating with the customer will prove to be a key factor in receiving them as repeat customers and starting out the year strong. Pooh-Luscious is open from 11-10 for a few key reasons. 11 a.

M. To noon is an approximate time to when the majority of people eat lunch. With the restaurant being a pooh restaurant, there is an anticipation that the customers will not come very early in the morning, as pooh is not widely considered a food for breakfast. Pooh- Luxurious potential customers are most likely to come in around noon. Opening before 11 a. M. Would not be profitable as the employees would be getting paid for times that little to no customers would come in to the restaurant. The closing time of the store will be 10 p.

M. Pacifically because surrounding dine-in restaurants have a closing time of 9. Pooh-Luscious will pick up on the customers that are looking for a meal later in the evening. 10 is a great time to close also because the hours after 10 are unconventional in the way that not enough customers would come into the restaurant for Pooh-Luscious to be profitable at the time. After four months of being in business, a part-time worker will be hired. The part- time worker will work 40 hours a week. The chart below shows the hours when each employee will be working, this will tell them when they are needed to work and the ours each person is working. These hours may fluctuate throughout the year, this chart displays the average month during the first year.

This chart shows the hours when each of the employees will work, this is month 5 where the part-time employee, Ben will start to work. The hours will be the same without the presence of Ben during month 1-4. The hours where I work only includes work being done inside the store I.

E. Waiting tables. Employee Total Hours Sun Moon -rue Wed HTH sat Joseph(FT) 11-10 Carl(FT) Ben(APT) None 11-8 12-4 12-5 Myself The employees will be paid ten dollars per hour. In the third month, Joseph and Carl, the two full time employees, will receive a ten percent raise.

This ten percent raise may or may not be given earlier depending on their willingness to work hard and overall performance. This will hopefully motivate the workers to continue working at Pooh-Luscious and to keep the turnover rate to a minimal. Ben, the part-time worker, will be paid ten dollars per hour as well. The tips will be shared amongst the three employees; however the full-timers will receive a higher percentage. This visual shows the turnover rates of independent restaurants in 2009 and 2010.

HTTPS://www. Google. Com/URL? Race= I 1 Canal M= amOescmuPbeBxM:= OCAUQJRw= http:/ /www. FWIWagScrimmaginghuCom-faunales/more-minfemurage? page 138 Tpagenover rates of restaurants in the first year are substantial and are very often. Keeping employees working for you is a brobdingnagibroadeningsping the business afloat. Not only will it save time, an employee that has w restaurant for a couple months has experience and Pho-Licious PooheLusciousng a new employee that is not familiar with how the re Giving the full-time workers a notice that with hard work they will percent bonus in the third month will influence them to continue Licious (LauLusciousenLullabyit the second year, two more employees will be hire Ben, the previous part-time worker, will then be moved to a full-ti receive atiten percent raise and continue working as a full-time e recently hired part-time staff members will come in at a beginnin dolbeginninghour. Marketing strategies are essential to the start and growth of a Marketing is the lifeline to all businesses, and what it does is brin Withoutbringtomers, no business would be able to survive as ther any prothere to. Pho-Licious Pooh Lusciousketing strategies that will part in being successful in the rough restaurant industry.

B. Pr The pricing of the food Pho-Licious PoohsLusciousis not a particular price is similar to the average cost of pho. Howeverpoohhe pricing wi food beinWIserved is quality and will reassure the customers that not cheap and is in fact an admirable restaurant.

1. Proposed pri Pho-LiciPRI PoohlLusciousa regular bowl of pho at eightpoohllars. Ke above comEekting pho restaurapooh, Pho-Licious PoohlLuscioushe direct that our pho is of a poohher quality than other restaurants, which will be the most commonly purchased food on the menu and sets the prices of all foods in Pho-Licious. PooheLusciouson appendix pa Located in the appendix is a sample menu of what the menu few of the different foods that will be served in Pho-Licious. PoohhLusciousseThe the price of the eight dollar bowl of pho.

These ppoohe foods will also be higher than the competitor’s prices. . Propose program Pho-Licious PoohlLuscious itself in a variety of ways. The different market the restaurant is essential to the survival of Pho-Licious PoohnLusciousfor potential customers to receive knowledge that Pho-Li and tPoohlLieation of where it is. The main promotion of Pho-Licious PoohlLusciousress release; pre quick way to get the company name out to the target market (“ Co ress releaseReeseput in the appendix.

A press release will occur b opening day, advertising before the opening will allow the target that we will be open in the near future. The press release will bri the firsBRIay and many after. Another press release will be sent o month of opening to attract more people to the restaurant. *See After attracting customers with various promotions such as bil press rebillse, the food that Pho-Licious PoohvLuscious be the promoti fabupromoteod products will generate word-of-mouth through sati ultimately bring in more customers and develop a strong base of return customers. The promotional program will consist of multiple promotions such as a company website, billboard, etc. Samples of some promotions are listed in the table below. This promotional plan lays out probable months of the 1st year where certain promotions may be used.

Some may or may not be used depending on the situatio of situationh. Although there are many great promotions on this table, Pho-Licious PoohlLuscious able to utilize all the promotions as there is a budget for advertising that does not fi all. Howeifr, the promotions that Pho-Licious PoohlLusciousll have great emotional ttachments tattachments will attract a large part of the target market. Pho-Licious PoohsLusciousg to conceptually capture the target market with the advertising. This p of the business is will be the most vital part of the plan as this will attract the customers. Promotions in the beginning months of the restaurant will be the most importan in importantnths more money will be put in based on percentages of the gross profi Pho-Liproof’PoohrLusciousstrategy will kick start a restaurant that will survive in the industry and thrive to generate much revenue in the following years to come. The oan given tonono-Licious PoohlLuscious into purchasing the promotions ultimately running the business. Our social media websites will be created with the assistance of Tongal.

TongAtonalewAtonall media source that advertizes fadvertiseses. How it works: projects are posted on Tongal and tAtonale community pitches ideas to help. Tongal is anAtonaladvertisement that will help Pho-Licious’PoohcLusciousia sites (Rapkin). TonRappingowsAtonalo advertize toadvertiseet well and is an efficient and relatively new website. T best way to market to the target market is to get feedback from your target market, and they know what they want. Pho-Licious PoohuLusciouse feedback of its target market through social media to giv our markgivewhat they want.

This will only improve our marketing by being able to narrow down even farther which promotions will be the most beneficial to attract t most amount of customers. Online advertising will be key as it is easy to figure out the effectiveness of online advertising through the amount of times the ad has bee visited (Farese). Fares. PLANNED FINANCING Pho-Licious Pooh Luscious an excellent financial statement of the first few years of Pho-Licious’PoohpLuxuriouslow are Pho-Licious’PoohtLuxurioussts, the projected cash-fl tatement FLdtenementfor the first, second, and third year. The start-up costs will als provide allsal information such as the loan and the total cash amount needed to rea Pho-Licirear’PoohrLuxuriouspoint. A.

Start-up Costs with On-going Expenses The total start-up costs include the supplies and items Pho-Licious PoohdLusciousn ou first mono of business.