Business Plan
Executive Summary
Our initial statement to Investors and Financial Lenders is a candid disclosure of the Zara Restaurant & Lounge business proposal – our intent is to set realistic business expectations, and eliminate any questions about the profitability of this business venture.
We, as business owners, have a vested stake and financial commitment in the success of this restaurant. Our intent is to have a definitive business, financial, and marketing plan that not only serves our need for capital financing, but is utilized as our daily business roadmap. We have taken all precautions to validate our business and financial models, focusing on realistic projections. We have accomplished this as follows:
1. Our financial model is rooted in industry facts, not optimism.
We have based costs on our vast industry and practical experience with similar ventures, validation against National Restaurant industry cost averages, and analysis against local Karachi market averages. We have taken a collective look at all figures to make solid business estimates.
2. Our business concept was derived from detailed Market Analyses. Instead of building a business around a preconceived concept, we analyzed the market findings and built a concept around our consumers. In other words, our business is built to service an unmet consumer ‘want’.
3. A solid Risk Mitigation Plan. We have evaluated traditional and non-traditional risks associated with Restaurant failure and accounted for them directly in the business plan. Instead of dismissing the risks, we have identified valid mitigation strategies for each.
4. Deep Management Experience. Our management team has vast combined experience, involved with over variety of restaurant openings, and deep involvement with the Pakistan restaurant industry.
5. The total capital requirement to launch Zara Restaurant & Lounge is Rs.3000, 000, of which Rs.2500, 000 is allocated to start-up capital, and Rs.500,000 as business operations cash reserve.
Objectives
Zara Restaurant & Lounge’s objectives for the first three years of operation include:
• Keeping food costs at less than 35% of revenue.
• Improving our Gross Margin from 65.41% in Year 1 to 67.10 in Year 2. These are attainable targets; our objective is to attain 70.73% by Year 3.
• Keeping employee labor cost between 37-39% of total sales.
• Remaining a small, unique restaurant with eclectic food and service.
• Averaging sales between Rs.1, 200,0000 – 1,500,0000 per year.
• Promoting and expanding the Zara restaurant concept as a unique Midtown destination restaurant.
• Expanding our marketing and advertising in Karachi and in the neighboring suburbs to increase our customer base.
• Achieving a profitable investment return for investors for Years 2 – 6.
Mission
• Zara will be an inspiring restaurant, combining an eclectic atmosphere with excellent and interesting food. The mission is to have not only a great food selection, but also efficient and superior service – customer satisfaction is our paramount objective. Zara will be the restaurant of choice for family restaurant offering affordable, high quality cuisine inspired by authentic family recipes. Our goal is to provide our customers with an entire dining experience that exceeds their expectations on every visit. We do this by recommending add-on items that will enhance their dining experience. Our restaurant is clean and the quality is always high.
• Employee welfare, participation, and training are equally important to our success. Everyone is treated fairly and with the utmost respect. Our employees will feel a part of the success of Zara Restaurant & Lounge. We value the people who work for us. Quality employees make quality food, keep the restaurant cleaner, give better service, and stay employed longer because they like working. We have found that friendly managers hire friendly crew people and friendly crew people attract customers.
• Our concept combines variety, ambiance, entertainment and a superior staff to create a sense of ‘place’ in order to reach our goal of overall value in the dining/entertainment experience. We offer fair profits for the owners and investors, and a rewarding place to work for the employees.
Keys to Success
1. Unique, Innovative & Contemporary: The creation of a unique and innovative fine dining atmosphere will differentiate us from the competition. The restaurant will stand out from the other restaurants in the area because of the unique design and decor. We will offer a fine dining experience in an electric atmosphere.
2. Product quality: Great food, Great service and atmosphere. The products we serve are of the highest quality. We combine this quality with great service and atmosphere. We then add menu items that appeal to all ages of the family
3. Current management staff and crew have a great deal of experience.
4. A frequent diner program and birthday club will be available to promote repeat customers as well as a tool to track sales.
5. Management that treats every employee equally. We create an atmosphere where employee’s love coming to work and can earn good money.
6. Great employees make for a great restaurant.
Laminate Flooring – How To Choose One!
Laminate flooring has become one of the most preferred solutions today in the world when it comes to picking a flooring type for the home or the workplace alike. With a boom in real estate around the world like no other, and the associated growth of construction, the flooring industry is going through never-before growth rates breaking all records with each passing phase of time. And given the economic outlook of the world, there is only one way this industry is going to go and that is up!
Laminate flooring while bearing close resemblance with hardwood flooring has a few fundamental differences that start from the way it is constructed right up to the maintenance measures that need to be taken post installation. Depending on where you want the flooring to be done, the kind of traffic it will need to take and the weight of movement involved, you can choose the laminate flooring of the right strength that will best suit your needs. To do that, i.e. pick the right laminate flooring over hardwood flooring, you need to understand how laminate flooring is graded and what grade makes the most sense for you to buy. Net-net, you want to know what AC rating is all about for laminate flooring.
The European Producers of Laminate Flooring or the EPLF as they are commonly known is an organization that standardizes the types of laminate floorings available in the market today by classifying them according to various categories based on the permissible stress levels. These stress levels could be tested for scratching, denting on impact, abrasion resistance, staining, reaction to fire among several such parameters. Based on this, the suitability of the laminate flooring for a certain place of installation is determined and an AC rating given. The AC rating is an indicator for the customer on whether the laminate flooring under consideration will perform well at the chosen place of installation.
AC ratings range from AC 1 all the way upto AC 5. AC 1 laminate floorings are meant for low traffic low weight movement locations such as the bedroom in your house, the study room etc. The next level AC 2, is prescribed largely for the rest of the house. SME (Small and Medium Enterprises) and small offices go in for AC 3. Slightly higher traffic areas like a pharmacy or a gift shop use AC 4 as do medium sized restaurants. Very high traffic areas like airports, government buildings etc use AC 5.
Choose your laminate flooring carefully and you will reap the benefits of a glittering floor with aesthetic beauty for a long time to come. Get floored by laminate flooring!
Slate Flooring – Pros and Cons
What is Slate? Slate is a grayish, green, blue Metamorphic rock that can be cut into very flat pieces. In the past it was common for Slate to be used in schools as a writing tablet. Slate is also used on roofs as well as floors. These days it’s common for people to use Slate as their home’s bathroom flooring, walls and in some cases the ceiling. This is commonly found in Asian inspired decor, where there’s no separation between the bathtub/shower and the rest of the bathroom. Slate is especially good for bathrooms because it’s moisture, bacteria and stain resistant.
Slate flooring can be added to every room of the home. It is very classy and adds a certain level of sophistication to any environment. The advantages of using Slate Flooring in your home definitely out weigh the disadvantages. Slate Floors can easily last the life of a home if they are cared for properly. Once a Slate Floor is installed you won’t have to worry about much more than keeping it clean. If you desire to change the look of a Slate Floor, or want to be sure your protecting it from the elements, than all you have to do it seal it. (This can be done before or after installation. The ladder is recommended) I would suggest doing this with a penetrating water-based slate tile sealer. This may change the look a bit by bringing out different textures and colors, but it shouldn’t be a huge difference.
Some of the disadvantages of having a Slate Floor installed is the cost. It is much more expensive than some of the other popular flooring materials, such as vinyl, laminate, ceramic and porcelain. You could save on labor costs if you installed it yourself. Slate is fairly easy to work with in comparison to other high end flooring such as marble and granite. But if you are a novice then I would suggest paying for the installation. Another disadvantage of having a Slate Floor has to be their feel. Slate is cold and hard to the touch. It can also fade and chip if not taken care of. It can easily be scratched, so adding the proper padding to any furniture resting on your Slate Floors would be recommended.