The Restaurant
Mission Statement:
Type of venture: We are going to open up a fast food restaurant that sells hamburgers and fries.
Products: We are going to sell lunch and dinner. Our products will be hamburgers, fries, chicken nuggets and other fast food.
Purpose: The purpose is to make money by opening a restaurant on Shoal Point Rd. where there are many residents and no restaurant at their convenience.
Customers: We will be selling to people who link in the neighborhoods off of Shoal Point Rd. because there isnt any restaurants around that area.
Market Analysis:
Customers of all ages (mostly customers who live close)
Products people will buy are steak, hamburgers and chicken
New houses are being built, so building a fast food restaurant for these people who live around Shoal Point is a good business strategy.
The competition is very limited in this area. The competition around are Pizza Pizza, Pizza Pinos, A&W, Tim Hortons, and subway.
We dont make pizza so our only competitor would be A&W, but they overprice their meals compared to our prices.
The small meals would cost under 5$. Larger meals will be from 5 to 10 dollars.
Our advertisements would be signs and flyers.
Resource Analysis
- equipment we need are hamburgers press, fridge, drink dispenser, freezer, deep fryer, condiment dispenser, cash registers, microwave, oven, dish washer, cutlery(plastic), napkins, garbage bin , chairs , tables, trays.
- Human resources we need are cashiers , cooks, dish washer/ garbage boy, manager
- Venture would be located by the walking path on Shoal Point rd.
- We require 140,000 sq. ft. of land
- We need flat cement land for our restaurant
- We would rent a building to create revenue then buy our own place
- Our products like meat will be bought from other manufacturers
- Raw materials such as meat and potatoes will be needed
- Every 2 weeks we receive a supply of food. There return policy is if a box is damaged anyway its free.
- The total cost for all our expenses will be a lot
Operating Strategy
The people who will be doing each job will be those who are hired for each position. There will be a manager at cash to supervise the other workers.
The people will be encouraged to talk to each other and get to know the people around you.
Our facility will be like any McDonalds or Wendys.
All food making will be generally done behind the cash register like salads and fries. The burgers will be done 7 feet behind the front counter.
Supply from all food manufactures will be delivered to the back and the supplies will be managed by a supply manager.
Records such as supply prices, sale prices and employee sheets will be kept
We will look for deals when buying our products
Financial Strategy:
Proforma Income Statement Total
$ In-sales 250,000 250,000
$ Out Expenses
Rent 30,000
Utilities 20,000
Hydro/ Water bill 40,000
Food stock 15,000
Salary 20,000
-115,000
$ 135,000
Proforma Balance Sheet Total
(own) Assets
Supplies 10,000 105,000
Stock 60,000
Computer 20,000
Utilities 15,000
(owe) Liabilities
Rent 30,000 -50,000
Line of Credit 20,000
Owners Equitity $ 55,000
Bank Loans:
The banks we are asking for loans from are CIBC, ING Direct and Bank of Montreal. We already have $200,000 of our own money that we have saved. We just need another $200,000 to start our restaurant.