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Mediterranean Restaurant Business Plan

3 mars 2023 Businnes Plan


Mediterranean Restaurant Business Plan


On the Water is a new Mediterranean restaurant on the Sunset Strip. On the Water is open to both casual and sophisticated diners who are looking for great food in a fun atmosphere. On the Water will strive to earn 85% gross profits through an innovative setting and a delicious menu.

Market

On the Water will focus on tourists and locals who enjoy eating out. On the Water will target young adults between $15K-60K in income who want to enjoy good food and great times. On the Water will focus on young adults with money and tourists who frequent Sunset Blvd. The general demographics are males and females ages 20-50 with some or all of a college education. On the Water will serve tourists and party animals from nearby cities as well as local Hollywood residents.

In the past, the restaurant sector has been affected far less than the overall economy by economic downturns. This is partly due to people’s perception of food as a basic necessity and their willingness to spend accordingly.


Service and Products

On the Water has a consistent quality: their unfailing service. All server staff hired have extensive experience and all go through three weeks of training, ensuring benchmarked customer service. The Water’s services are provided in an exceptional atmosphere that features a wide range of art and culture collections from Mediterranean Europe. This provides an authentic surrounding that at times seems to distract everyone as they analyze the wealth of artifacts on display.

Lily Valdivia&#8217’s pride and joy, the menu. It is a culmination of over 20 years of cooking. There are many traditional favorites, such as tabouli and baba ganouj. These favourites are differentiated by using the freshest organic ingredient. It is often not known how much better items taste when they have been prepared with the best ingredients and are made with love. There are also kebobs (and chutneys), flat breads (and desserts). All items are freshly made and prepared every day.


Management

Lily Valdivia (an industry veteran) is the chef of the restaurant. Her restaurant experience started 12 years ago when she was a server. She quickly moved up to fine dining serving where she perfected her formal, customer-centric serving approach. Lily was the manager for a European restaurant that had over $2.5 million in annual revenue for the past five years. Lily, as we mentioned, started cooking in Greece when she was a young child. Lily was born into a large family. She quickly assumed the responsibility of cooking for the whole family. Her mother taught her traditional recipes from three generations. Lily quickly master these skills and began creating her own dishes. Her family gave her a lot of positive feedback. She knew that one day, she would need to turn her skills into a business opportunity.

On the Water expects to be profitable by month two. Forecasted sales will reach $1,785,000 by the end of year two and then grow to $2,345,000 at year three. These sales are projected to generate high net profits.

1.1 Objectives

  1. The third year saw sales increase to over $2,345,000
  2. Maintain a gross margin around 80%
  3. Increase inventory turnover to 2100 turns in year 2, and to 240 by year 3.

1.2 Mission

On The Water is a business that envelopes fine dining of unique mediterranean taste and an excellent bar and grill atmosphere. Our mission is to serve great food and provide friendly and efficient customer service. Our dining space is elegant and inviting. The walls are always flooded with running water, and there is a lush jungle ceiling hanging from the ceiling. We concentrate on customer satisfaction and quality food that is always fresh and specially selected. We do not judge people based on their dress or class. On The Water grill wants to be a place where people are able to enjoy a delicious meal and meet new people at our tropical Mediterranean Honey bars located inside.


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