'The paper is in a descriptive analysis of the in there will be paper development strategies such as elaboration of the concept of the business, analysis of the market and exploration of development strategies of establishing a restaurant. The business plan is done with a forecast of several assumptions which necessitated the creation of the concept in the first place.'
This paper is a business plan which describes the plans and intention of creating a healthy organic fast restaurant named MyTaste. MyTaste restaurant is unique from other restaurants because it will offer healthy organic food in quick service with the aid of technology. It will offer healthy food options to clients at affordable prices. This paper will thoroughly explore the business concept of the restaurant, market analysis, organizational and financial strategies. The paper is in a descriptive analysis of the in there will be paper development strategies such as elaboration of the concept of the business, analysis of the market and exploration of development strategies of establishing a restaurant. The business plan is done with a forecast of several assumptions which necessitated the creation of the concept in the first place. In the end, the business plan offers an exit strategy and a conclusion.
Keywords: restaurant, business plan, market analysis and entrepreneurship.
Glossary:
v Aficionado: a person who is an expert and knowledgeable on a certain subject.
v Organic: this is a system of farming which does not use growth developers, pesticides, man-made fertilizers and feed additives.
v Generic: a characteristic not specific group of things or objects.
v Smart Interactive Touch Screens: it is a computer display which responds command from either finger touch or a stylus and sends the data to the control center for processing.
v Niche: these are related services, products or brands which appeal to a particular section of a population.
Chapter 1: Introduction
Texas city is a hotbed of the activity as it is an area which prides its economy on oil and gas. There are thousands of workers and students who depend on the restaurants in the city for their daily meals. However, a major population of these consumers is worried about their health and the prevalence of lifestyle diseases. The eating habits of the workers and students on Houston is wanting and therefore creating a market niche in opportunity for healthy and organic foods. This opportunity was realized after preliminary research in Houston which found out that many of these restaurants did not offer customers healthy diet choices in their menu.
The purpose of this proposal is to establish a healthy organic food restaurant in Uptown Houston, Texas. The concept of the project involves receiving a loan from the bank to finance its establishment and initial operations, designing the restaurant with modern technology for faster services, and establishing the actual place. Also, included in the report is the feasibility of starting a new business, and the importance of healthy dietary habits. This concept is necessary because many people in Houston depend on restaurants for their daily meals, and therefore, deserve choices of healthy foods offered with fair prices. For such a project to be affected, a business plan must be made, and this paper includes a business plan for establishing a healthy organic food restaurant in Houston. The business plan is developed in descriptive analysis in that it explores three basic phases of development in establishing a restaurant. In the first phase, the concept of the business will be elaborated, the second phase will involve an analysis of the market forces on which the concept will be laid upon, and the third phase will be exploring of the strategies of development to make the establishment a reality. It also explores the assumptions and theoretical perspectives which lead to the creation of the business to make the concept as realistic as possible.
Background
This opportunity was recognized as a worker and a student who relies on fast food restaurants in my daily activities. The tight schedules and poor eating dietary habits made me analyze the dietary choice problems people are exposed to daily. Several contributing factors are unavoidable because many of the working class who juggle between jobs, and college students do not have time to cook at home, but rather rely on the fast food restaurants for their daily meals. Most of the quick foods available in these restaurants include French fries, fried chicken, chicken fingers and nuggets, pizza, different types of processed cereals such as burgers, and mashed potatoes. These foods are usually accompanied by chilled carbonated soft drinks which are detrimental to the health of the consumer (Borgert-Spaniol, 2012). Thus, I saw a market niche and developed an interest in creating a food chain capitalizing on healthy organic foods and competitive prices.
Origin of Healthy Organic Food Restaurants
For the past few decades, the healthy organic foods industry has enjoyed tremendous growth with sales increasing at a rate of 20% annually (Winson, 2010). The rising awareness has necessitated this rapid growth by consumers of the health benefits of organic foods. Consumers have had growing confidence in the environmental impact and the possible health risks of the conventional foods in the restaurants. The Organic Trade Organization estimates that natural an organic food combined can have the potential of $20 billion in the united states (Winson, 2010). Therefore, restaurants which embrace these organic and natural foods stand to benefit from consumers who support eating healthy and preserving the environment.
Conventionally, the word “organic” is usually associated with generic vegetables and fruits and not with beef, chicken or any other source of proteins. Animals bred organically are free of added hormones, antibiotics and fed with genetically modified foods (GMO) (Sacco & Tarasuk, 2010). There are restaurants such as Amandas, Evos, Restaurant Nora in California and Florida, and Organic to Go to Washington which has made a transition to using organic ingredients and witnessed raising sales despite higher prices. Therefore, the success of a healthy organic food restaurant in Houston, Texas is high viable.
Many of the quick foods offered where junk food and soft drinks. Many of the workers and students who were tied by tight daily schedules were left with no choice but rather consume them, much to the detriment of their health. In this case, they do not have the luxury to cook home, and when they visit the restaurants, they expect quick service of light meals or takeaways. Most of the foods available in the menu include chicken wings, fingers and nuggets, mashed potatoes, French fries, all kinds of burgers and processed cereals. Those who do not have the luxury of visiting the restaurant's order office or home deliveries and most of the time is pizza. These foods are found to cause conditions such as weight gain, cardiovascular diseases, obesity and diabetes (Epstein, Paluch, Beecher & Roemmich, 2008). However, fast foods are not at all bad, but they are highly processed foods, containing added sugar, high levels of carbohydrates, salts and unhealthy fats. Some of the foods such as the beef, chicken, and vegetables are bred and grown using artificial materials and conditions. Most of the foods offered in these restaurants have little nutritional value but high in calories (Epstein, Paluch, Beecher & Roemmich, 2008). Therefore, any person mindful of their health would be worried about his or her health.
People should be able to enjoy meals and not just have an exercise in sacrifice. According to USDA, many people prefer junk foods because they are tasty when compared to insipid healthy foods (Jafari Momtaz, Alizadeh & Sharif Vaghefi, 2013). Thus, is the reason why restaurants should attract customers not only to the advantage of healthy diets but tasty varieties of dishes which will offer a pleasant surprise for the guests. Fresh products are necessary to be used in the restaurant as opposed to frozen foods which have less flavor, and dull color. Socio-economic and technological aspects in the world today have subverted the edible commodities to become ways of getting diseases rather than nourishing the consumer (Hicks & Hicks, 2011). However, these natural and organic products have become challenging to find, therefore, becoming expensive to the lower-class people, who can only afford poor quality foods.
This MyTaste healthy food restaurant is born out of three assumptions, and one of them is that we live in a fast-paced society with busy schedules and tight deadlines. Thus, time is valued by all. Secondly, at the global level, there are growing concerns healthy diets and consumption of bio foods, however, there are limited options on where to dine healthily because very few restaurants are offering healthy food menus. Therefore, the need for such markets is highly growing and much needed by healthy lifestyle conscious people. Thirdly, with the current economic situation, every person in the world is concerned with the how they spend their money and the consumption patterns. Thus, there is a need in the market to have restaurants which serve healthy organic foods at reasonable prices
Starting the Business
Company Description
MyTaste Enterprise is a for-profit organization based in Uptown Houston, Texas and is expected to operate a healthy organic foods franchise, under the brand name “MyTaste.” It will mainly serve healthy organic foods, targeting a majority of workers and students in Houston who do not have the time to cook but would like to have healthy diets when they dine in restaurants. The headquarters of the business will be located in Houston, Texas.
Company mission
MyTaste is a restaurant which offers a suitable place to have quick, healthy and affordable meals, especially lunch in an ample atmosphere. It is a fresh and fast food chain, for those who would like to have a quick, healthy bite between tight and busy schedules. Our meals are made of quality ingredients which are produced naturally, prepared with modesty and priced moderately. MyTaste offers a perfect place where you can dine each day, without feeling a pinch in your pocket.
MyTaste has installed IT devices which provides quick ordering process from our customers. We value not only being partners with our customers but also with employees, suppliers, environment and the community. This is because all stakeholders are essential to our success and deserve to be treated accordingly.
Our goal is to provide customers with fresh, healthy and organic foods in a manner they like it, for an affordable price and ensure a sustainable growth which will secure our interstate and international expansion while making profits annually.
Development to Date
MyTaste restaurant is set to be found in the fall of 2018 and begin operations of its first restaurant in January 2019. However, these dates are relative to the funds which I am currently seeking. I like the owner and the other directors have since then been conducting research and analyzing the Houston food retail market to develop strategies which will make the restaurant a preferred destination for customers.
Legal Status and Ownership
The company will be registered in the Houston city, state of Texas in the united states of America as a Limited Liability Company. The company will operate the restaurant under the name MyTaste. It will offer shares of 100,000 with each share initially going for $5. I will own 50% of the shares while Merilyn Foster will own 25% while Kyle Drabeck will own 15%. The company will retain 10% of the shares for future distribution. Funding for the company to establish and operate the company will become from my investment of $100, 000, Kyle Drabeck $50,000, while Merilyn Foster invests $60, 000. The remaining amount of $208,750 is the one being sought for funding to affect the establishment and operations of the restaurant.
General Objectives of MyTaste Enterprise
From the mission statement, the following objectives have been derived:
i. Provide moderately priced, healthy organic food for workers and students who do not have the luxury to carry lunch to work.
ii. Use quality ingredients to ensure the freshness of the products
iii. Ensure sustainable growth which will secure interstate and international expansion of the concept while making sizable annual profits.
iv. Equip the restaurant with IT machines and equipment to ensure quick and faster service to customers thus giving us a competitive advantage over the other competitors.
CHAPTER 3: THE CONCEPT AND THE MARKET
The concept
Most of the people in the united states and especially in Texas state usually take lunch mostly in fast food restaurants littered around its cities and towns. With increased concerns on lifestyle diseases caused by poor eating habits, coupled with working schedules which keep getting busier, many people are wondering if it worth dining out daily. This is not only due to the cost and tight budgets, but rather the health issues which have become prevalent in the 21st century. As a result, many of the workers or students opt to take lunch with them at work or school, while others do skip lunchaltogether. Therefore, it can be understood that many of these people are not happy with the options they have in the restaurants. Despite that there are different tastes of consumers regarding foods, I found one key theme among them; they would like to have healthy, quick and affordable lunch.
The concept to this concern is simple: I propose giving people the opportunity to have good, healthy and organic foods, served at a faster rate than in restaurants in any other part of the town. All this with a fair price and in an ample environment, cool and refreshing. I intend to deliver this service and products to people in a more efficient rate than any other competitor within by use of technology and other methods of service not yet adopted by restaurants. MyTaste restaurant will be designed in attractive decorations, however not too comfortable to ensure that clients rotate more often, increasing traffic in the restaurants. Also, the other sell out point will be freshness, which will be reflected in the décor of the restaurant. The restaurant will make the kitchen visible to all, to promote freshness and cleanliness. In this case, the restaurant will be serving breakfast, lunch, and snacks in the afternoon with beverages.
Since the target market is business employees and students, the restaurant will be located near business premises for proximity while others will be situated closer to academic institutions especially colleges and universities. The restaurant will be open only on weekdays from 7.00 hours to 1730. This concept deviates from the conventional restaurants in two ways. One of them is that it will bank on serving customers faster than other fast food restaurants around. This is due to the fact that some of the food being prepared will not be to meet demand, which at times can be time-consuming. Most of the foods will be prepared in advance and put in cooling machines to keep them fresh, with labels being put in their containers on the calories present, and the time when it was prepared.
However, the main difference with other fast food restaurants is that it will incorporate self-service equipment in the store. These include smart interactive boards which will enable the customers to customize their food while ordering it. Some of the foods which will be prepared on request will be done through this interactive interface. Also, it will include smart payment systems which will reduce the lag of checkouts during payments. Therefore, these services will enable the restaurant to serve customers efficiently, making it a preferred destination for those who would like to have healthy quick bites. This will give the restaurant a good competitive advantage over the other fast food restaurants in the vicinity.
Background
This opportunity was recognized as a worker and a student who relies on fast food restaurants in my daily activities. The tight schedules and poor eating dietary habits made me analyze the dietary choice problems people are exposed to daily. Several contributing factors are unavoidable because many of the working class who juggle between jobs, and college students do not have time to cook at home, but rather rely on the fast food restaurants for their daily meals. Most of the quick foods available in these restaurants include French fries, fried chicken, chicken fingers and nuggets, pizza, different types of processed cereals such as burgers, and mashed potatoes. These foods are usually accompanied by chilled carbonated soft drinks which are detrimental to the health of the consumer. Thus, I saw a market niche and developed an interest in creating a food chain capitalizing on healthy organic foods and competitive prices.
The Market
The target market for the restaurant is the City of Houston as the capital of operations. Houston is the most populous city in Texas and is the fourth largest metropolitan city in the united states. It has an urban population of about 6.7 million people, with a GDP of approximately $478.6 billion, which is larger than that of countries such as Austria, or Venezuela (Wikipedia contributors, 2018). The Forbes magazine ranked the city in 2006 as the “Best Place for Business and Careers,” and in 2013, it was identified as the best city for employment in America. In 2008, it received the top recognition by the Kiplinger's Personal Finance, as the best city for employment opportunities, local economy, quality of life and reasonable cost of living (Hall, 2018). The metro population provides an ample target population for the products which will be offered in the restaurant.
It was decided that the first restaurant should be opened in Uptown Houston in Texas since there is a viable marketing opportunity. It is projected that it will become a franchise after opening several restaurants in the city where several others will be opening in the neighboring states. It will then move internationally, and the intention is not to open only one store but several ones because they offer the following advantages. According to Hanaysha, (2016) these are the advantages which a franchise has single restaurants offer:
i. They have a huge marketing clout.
ii. Development of recognition in the market
iii. Discounted purchasing
iv. Development of sophisticated systems
Competition Position
The location of the restaurant is in Uptown Houston, a location which has already established restaurants which range from those offering full service, high-end hotels, to cheap fast food restaurants. According to the preliminary research I have done, these restaurants do not offer services which would satisfy customers who are interested in healthy lifestyles. Therefore, MyTaste restaurant would meet the market needs and be outstanding from the rest. In this case, it will be banking on its healthy diet portfolio, quality and quick services, eco-friendly policies, and competitive prices to set itself apart from other competitors.
The degree of Services Offered
The services which are offered in a restaurant can vary a lot from ones who have smart vending kiosks to those who have sommeliers waiting at a table in luxury restaurants. However, generally, an increase in the services offered in a restaurant has an increase in menu prices. In other words, the more the prices on the menu, the more personal the service offered in the restaurant. In a restaurant which offers full service, the customer does not only pay for the food but also the attention and the ambiance provided for in the room.
MyTaste restaurant will be a mix between a casual restaurant and a quick service restaurant, therefore, could be defined as a casual restaurant. One of the characteristics is that every second in the restaurant is money. However, the challenge with these restaurants is that foods should be available and that the staff and employees have to serve customers in the fastest way possible to increase a quick turnover time. A casual restaurant has several characteristics such as quality ingredients and waiting tables but serving customers very fast in an efficient manner (Hanaysha, 2016). Therefore, for MyTaste to be able to offer services in the quickest way possible, there are two options available for getting food in the restaurant.
One of them is that we will provide a supermarket option int the restaurant. This is because most of the targeted population are business employees who do not have the luxury of dining time during the day. Therefore, when the person enters the restaurant, he will be able to choose between the assortments in the store, pick one, and pay them over the counter. This is because the restaurant provides foods like sandwiches, fruits, and salads all waiting in the cooling shelves. The customer will be able to consume the food either in the restaurant or take it away or eat it in the offices or campus sets. Each of the customers will serve themselves as it is done in the supermarkets, which is much faster than the conventional fast food restaurants. This concept will be different because in conventional restaurants have the customer order, pay for the food and wait while it is being prepared. Therefore, our concept will offer quicker services than the conventional fast food restaurants.
Apart from the pre-made food in the cooling shelves, the restaurant will also offer the customers opportunities to order their food in a customized way. In this case, the store will be equipped with self-service machines and interactive smart boards where customers can order and customize their food. Customers will be able to select the ingredients they like to have in their food by selecting them in the interactive ordering screens. The self-service machines are in such a way that when they enter the restaurant, they will see several touch screens available to them. The screens will be divided into three or more sections bearing food being offered that particular day. Next to the pictures bearing the food are the ingredients used to prepare the food and the price for each specific dish. The customer has then to choose between the items proposed by selecting it through touch in the screens.
When a customer chooses his or her preferred, for example, a sandwich. The customer has to choose between the types of bread used in making the sandwich and then select different types of toppings and fillings for the sandwich. The prices of the order and the number of calories in the sandwich will appear in the one corner of the screen so that the customer will always know the price and the calories being consumed with each added ingredient. When he is done selecting, then one can touch the order button and pay directly either through credit cards or cash. After the order is done, it will be sent electronically into the kitchen, and the system will provide a receipt to the customers. The customer will then watch the food being prepared in the kitchen through the glass or window as the restaurant offers an open kitchen. When the lunch is ready, the customer can then decide to take the meal in the restaurant or take it away. This process is longer than the supermarket one but still offers a quicker way of making orders than the one-off waiting to make orders to the chefs in the kitchen directly. The purpose of this alternative is to give the clients the luxury of customizing their food, especially those who do not like the premade ones on the shelves.
The concept of the restaurant reduces the interactive service between the customer and the staff. The customer has a self-checkout, and when the food is ready, he or she can carry the food through by a tray to the tables. Additional service which the restaurant seeks to offer is to pick up service where customers can order them online and then a delivery service done on their premises. This service will feature everything in the cooling shelves and the customized food option. The delivery will be available to those customers who have a number of purchases any given time, because of the transportation expense and staff. The customer will be able to access the food through the restaurant website, and the order will be electronically availed in the kitchen, prepared and then the customer will pick themselves later or delivered to their premises depending on the volume ordered. To comply with environmental concerns, all materials used in the delivering food and those used in the restaurant will be recycled, packages of recycled paper.
Menu
MyTaste restaurant is not yet operational. Therefore, there is no need to provide a detailed menu in this section. However, a more thoroughmenu will be available as soon as the restaurant opens its doors, with additional ones being offered depending on the requests from customers. As noted earlier, the restaurant will serve breakfast, lunch, and snacks in the afternoon. The restaurant will offer breakfast in full and varied depending on the preference of the customer. The offers will consist of:
i. Home baked pastries, such as croissants
ii. Yogurt with granola
iii. Fresh fruit salads
iv. Bread with varied spreads
v. Customers will have the opportunity to get fresh juice and coffee from the smart vending machines at their own preference.
The lunch served in the restaurant will involve a variety of foods which will be available either premade or prepared after ordering. The daily meals will consist of sandwiches, such as tuna sandwich, cheese sandwich, bagel with salmon, or club sandwich. Salads will be available in traditional styles such as Caesar salad, salad nicoise, goat cheese salad and so on. Apart from the sandwiches and salads, homemade soups will be available and will be available in different tastes depending on the day of the week. The restaurant will have been seeing through containers where they can see the soup while it is warming, before pouring in their bowl. In the cooling shelves, there will in-season fruits, yogurts for digestion, fresh fruit salads.
Next to the cooling shelves will be dishes ordered through the self-service customizing machines, and in this case, they will involve pasta, salads, and sandwiches. Drinks being served for lunch will consist of fresh fruit juices, coffee, and tea. There would also be premade smoothies which customers can get after ordering through the smart vending machines. The afternoon will consist of cookies, homemade pies, cakes which will be taken with chocolate milk, coffee or tea.
Management Team and Employees
Initially, the management team will be composed of me, the owner who is an expert in finance and accounting, and two other affiliate directors who will have expertise in a different section of the running of the restaurant. As the creator of the concept, I am confident that the two directors will make an excellent team in the running of operation of MyTaste. One of the directors, Kyle Drabeck is a management and human resource expert, who will provide unlimited skills in the management of the staff and directives on the probable course of the business. The other director, Merilyn Foster who is currently an IT aficionado will provide the necessary skills in the management of the restaurant equipment, machines, and devices. Therefore, combining these skills, motivation and entrepreneur skills, gives us the confidence that we will conquer the food retail industry.
The management of the restaurant will be split between the back and the front. In the back, it will house operations such as sanitation, dishwashing, food preparation, accounting, purchasing, accounting and budgetary control. The front will host the servers, cashiers and the area to host the customers. At the beginning of the operations, Kyle Drabeck will serve as the manager at the front while several cashiers and cashiers will be hired. This is because Mr. Drabeck has experience in human resource management and accounting, an invaluable skill much needed when the restaurant is still taking its baby steps. This will cut the expenses of hiring an experienced and qualified manager for the job. He has great leadership abilities and will give the necessary orders to the cashiers and servers. The basic aspect of the manager will be to ensure constant rotation of the employees to ensure that the restaurant is not overstaffed or understaffed. After opening the restaurant, he will serve full time in it to open and close it and giving daily reports of the operations of the restaurant.
For the servers and cashiers, the restaurant will hire students while looking for its footing within the food and retail market. In this case, it will employ students while looking for full-time employees to hire for the jobs. This is because they do not need to have to be qualified for working in a fast food restaurant. There are several advantages of taking part-time students for this job, in that their remuneration will be close to a minimum wage, though the intention is not to exploit them, but rather save as much as the restaurant can make in its initial operations (Hanaysha, 2016). Since they will be part-time employees, it will have even distribution in that they will serve during peak hours such as lunch and have less of them during ours such as breakfast. Also, part-time students are easier to manage and rotate within the shifts.
One of the most important parts of the back is the kitchen which will determine if the restaurant makes the cut or it fails in the market. In this case, it is the production center, and therefore, a chef will be hired for the job. The chef will be the head of the kitchen and food production he will be responsible for checking on the quality of supplies, ingredients quality, preparation methods of the food and beverages and ensuring that the food is prepared to perfection. The chef and the manager will be responsible for the purchasing of the supplies and determine the suppliers to keep and those to avoid. This is because the restaurant will be operating under the brand of healthy organic food, an aspect which cannot be allowed to be compromised. The chef will also be tasked with teaching and leading the apprentices in the kitchen, and he or she will be among the first to arrive in the restaurant to ensure that food is prepared before the restaurant opens its doors for customers.
Image
The image is one of the fundamental aspects of any restaurant and in this case, it will involve signs, logos, menus, décor aspects which should complement each other to give the restaurant a clearly defined image to the public.
Name of the Restaurant
The name of the restaurant is part of the image, and with a name, the customer can understand what to expect. For example, when customers enter a restaurant named Little China, they will know what to expect from it, that is to be served Chinese food. A name which informs the customers what to expect is advantages because it saves the management from advertising costs. There are no funds required for the name recognition because the name has already captured that element of marketing.
Therefore, the concept of the restaurant was to have a name, which is recognizable, easy to remember and pronounce because it harbors the ambition of moving internationally. Different nations have different languages, and therefore, it is essential for the name of the restaurant to be read and recognized on the international platform with much ease. Therefore, the restaurant’s name was decided to be MyTaste, which is based on one of the distinct characteristics of the restaurant. In this case, as the name suggests, the restaurant will offer customers the privilege of he is customizing their food with the ingredients which the like. In this case, it is to recognize because it uses same characteristics such as Myspace where clients can customize their profile.
Advertising Slogan
The advertising slogan of MyTaste restaurant in Uptown Houston will be:
“you know it better.”
CHAPTER 4: PLACE AND LOCATION
The place and location
The place and location of a restaurant are one of the fundamental aspects of the establishing a restaurant. A location with good visibility is essential in attracting the clients, especially at the beginning of the restaurant which is not well known. For MyTaste, the restaurant targets business persons who would not like to trek long distances between their premises and the location. This is because it will save time in between the journeys which is essential for the business. As noted earlier, the restaurant will be located near businesses to for it to attract many clients. In Houston, there are many places to implement such, especially in Uptown Houston, which houses many business premises. This is because it is a town center with many workers, and this will serve as the best starting point for the restaurant. However, with a good location, it comes with a high price regarding rent. A sublease of in Uptown Houston for a restaurant is $60.70 per square feet billed per year, however, depending on the street the location is situated; the sublease would be in a median of $32/sqft/yr.
Physical Evidence
The main purpose of the restaurant is to serve food in an ample, serene and pleasurable restaurant. However, since the concept it’s a fast food restaurant, the store will not make the store too comfortable for the clients to ensure rotation of customers. It would be unwise for the staff to approach a customer and request him or her to leave to pave the way for other customers. However, the restaurant will be attractive and modern, to attract customers in droves. The outside of the restaurant will be made of glass which a logo in it where customers can see some of the clients inside but in half portions. The kitchen will be painted in milky white to ensure that it’s kept clean. Also, the consumption area will also be painted white as this makes the room to appear bigger in space and give it a refreshingly modern look.
The stores will be fixed with lighting which can be controlled, especially during lunchtime when the lighting will be made bright and, in the afternoon, soft. In this case, the essence is to give the restaurant a cozy and relaxed atmosphere. The consumption area will be fitted with white colored wooden tables, the floor made of wooden tiles while seats will be made of hard iron but covered with black cushions. The choice of bold colors and the hard sitting is to ensure that each customer in the restaurant will spend around 20 minutes in it to permit quick rotation.
CHAPTER 5: THE FUTURE AND FINANCIALS
My primary objective is to open and run a profitable restaurant in Uptown Houston, and I harbor the ambition of opening a franchise of the concept. However, it is projected to expand through retained earnings from the restaurant. The implementation plan for the restaurant will follow the sections as detailed earlier. However, the restaurant emphasizes the use of technology to reduce time and costs of operations. Most of the activities in the restaurant will be technically operated, thereby requiring less human capital for its operations.
Initial Financial Operation Plan
Start-up assets
Cash and cash equivalents
$50, 000
Leasehold
$8000
Kitchen Equipment
$100,000
2-year insurance plan
$1000
Technological installations
$50,000
Refurbishment, decoration and décor
$100,000
website
$250
Total startup assets
$309,250
Startup expenses
Business license
$2000
Rent
$50,000
Food inventory
$10,000
Advertising budget
$5,000
Office miscellaneous expenses
$5,000
Pre-opening labor
$4,000
Customer needs
$1,500
Utilities
$2,000
payroll
$30,000
Total start up expense
$109,500
Start-up funding required
Total start-up assets 309,250
Total start-up expense 109,500
Total funding required $ 418,750
Capital:
Planned investment
Personal 100,000
Kyle Drabeck 50,000
Merilyn foster 60,000
Total planned investment $210,000
CHAPTER 6: EXIT PLAN AND CONCLUSION
As per the research was done in this business plan, I can confirm that people would like to have a place to dine, consuming healthy organic foods. This is in a manner of a quick service but with reasonable prices, as this is the norm in the business world where time and money are siblings. After a proven success of the restaurant, new restaurants will be established under the brand name MyTaste in Texas. This expansion will be primarily affected by the profits made they the restaurant. This is because the owners, who happen to be the directors have committed these funds for the expansion of the business.
After analysis of market and carrying out a competitive analysis in Houston, we believe that workers in Houston need the restaurant in the concept of MyTaste. Thus, we are confident that this concept will be successful because it provides a fresh idea coupled with quick services in a serene and ample environment. I believe that Houston meets the requirements for the establishment of a successful, healthy organic restaurant. It is me believe that with our confidence, motivation, our concept, a correct staff and financing that MyTaste restaurant would be successful, make profits and extend into the interstate and international standards offering healthy, affordable and quick service restaurant.
References
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Epstein, L., Paluch, R., Beecher, M., & Roemmich, J. (2008). Increasing Healthy Eating vs. Reducing High Energy-dense Foods to Treat Pediatric Obesity. Obesity, 16(2), 318-326. doi: 10.1038/oby.2007.61
Hall, C. (2018). What's it like to live in Houston, TX?. Retrieved from https://realestate.usnews.com/places/texas/houston
Hanaysha, J. (2016). Restaurant Location and Price Fairness as Key Determinants of Brand Equity: A Study on Fast Food Restaurant Industry. Business And Economic Research, 6(1), 310. doi: 10.5296/ber.v6i1.9352
Hicks, J., & Hicks, J. (2011). Healthy eating, healthy world. Dallas, Tex.: BenBella Books, Inc.
Jafari Momtaz, N., Alizadeh, S., & Sharif Vaghefi, M. (2013). A new model for assessment fast food customer behavior case study. British Food Journal, 115(4), 601-613. doi: 10.1108/00070701311317874
Sacco, J., & Tarasuk, V. (2010). Discretionary addition of vitamins and minerals to foods: implications for healthy eating. European Journal Of Clinical Nutrition, 65(3), 313-320. doi: 10.1038/ejcn.2010.261
Wikipedia contributors. (2018). Uptown Houston. Retrieved from https://en.wikipedia.org/w/index.php?title=Uptown_Houston&oldid=850966635
Winson, A. (2010). The Demand for Healthy Eating: Supporting a Transformative Food “Movement”. Rural Sociology, 75(4), 584-600. doi: 10.1111/j.1549-0831.2010.00033.x
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