Business Proposal Report Business Proposal

Pages: 5 (1480 words)  ·  Style: APA  ·  Bibliography Sources: 5  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Advertising

Business Description

"The assemblage" is a start up New York-based restaurant. It is based right in the heart of the commercial center and will aim to attract corporate workforce during the lunch hours and families during the night. It aims to connect with its target market by offering a high quality and diverse menu at affordable costs. The restaurant will propose high-quality and unique items so as to utilize maximum local resources for not only business growth, but also market growth along with channel expansion (Riebesell, 2001).

"The assemblage" is not only owned but will also be managed by its chief investor. The restaurant will have a humble inauguration and will aim for the reasonable aims and objectives set out in the business proposal herewith. "The Assemblage" aims and objectives for the initial three years comprise (Riebesell, 2001):

Enhancing one-unit each year.

Maintaining the cost of food below 35% of revenue.

Maintaining workforce expenses below 18% of revenue.

Maintaining sales amid half a million dollars each year (Riebesell, 2001).

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"The Assemblage" will be different from other restaurants in the area in not just its location but also the services it offers to its customers. The owners plan to propose a special and unique mixture of quality eating experience at affordable costs together with a healthy entertainment and leisure atmosphere. This way the customers will have a pleasant eating experience as well as view their favorite sports games (Riebesell, 2001). "The Assemblage" start-up costs have been described in table 1 and 2 below:

Table 1: Start-up

Requirements

Start-up Expenses

Legal

$1,000

Stationery etc.

$1,000

Other

$1,000

Total Start-up Expenses

$3,000

Start-up Assets Needed

Cash Balance on Starting Date

$88,000

Other Current Assets

$50,000

Business Proposal on Business Proposal Report Assignment

Total Current Assets

$138,000

Long-term Assets

$0

Total Assets

$138,000

Total Requirements

$141,000

Table 2: Funding

Investment

Investor 1

$25,000

Investor 2

$15,000

Total Investment

$40,000

Current Liabilities

Accounts Payable

$1,000

Current Borrowing

$0

Other Current Liabilities

$0

Current Liabilities

$1,000

Long-term Liabilities

$100,000

Total Liabilities

$101,000

Loss at Start-up

($3,000)

Total Capital

$37,000

Total Capital and Liabilities

$138,000

Industry and Market Analysis:

The growth rate of the industry and number of new entrants into this field can be summed up as follows: "Restaurant industry sales are expected to reach $566 billion in 2009, with the industry employing 13 million individuals in 945,000 restaurant-and-foodservice outlets nationwide, according to the National Restaurant Association's 2009 Restaurant Industry Forecast released today. The Forecast projects that while overall restaurant industry sales will increase in current dollars by 2.5% over 2008 figures; the numbers translate to an inflation-adjusted decline of 1.0%. Despite the economic downturn, the industry will remain a cornerstone of the economy, representing 4% of the U.S. gross domestic product and employing 9% of the U.S. workforce, and restaurants will continue to adapt to the latest menu trends and consumer preferences (Hensley and Donohue, 2009)."

It is clear from the aforementioned facts that the inauguration of "The Assemblage" will be taking place during one of the worst economic and financial breakdowns in the American history. Therefore, it has to take into consideration the financial position of its target market, its pricing and promotion strategies and tactics and the marketing channels it uses to market its products and services.

Competitive analysis

"The Assemblage" will offer high-quality food throughout the week for not only dinner but also lunch and breakfast. The restaurant will be closed for "Thanksgiving" and "Christmas" only. All items on the menu will be self-serving buffet and their pricing will be fixed.

Marketing strategy

All those restaurants, which offer meals, will be our competition. However, to be precise, 2 sections will give us tough competition: firstly, the informal dining and steakhouses and family-steak-restaurants.

We aim to compete with them by utilizing the "local-media" along with "local-store-marketing" program. Our main focus and funds will be directed towards "local-store-marketing," which will be followed by radio and print media. Using other forms of the media will be considered at a later stage in the business (Bryson, 1995).

Our primary focus will be directed towards enhancing awareness in our neighborhood. Our marketing programs will allow people to understand values and services. Our buffets will not only be fairly-priced but also highly standardized. This will ensure top-quality "word-of-mouth" advertising (Daniels and Radebaugh, 1998).

Market data

"The Assemblage" aims to target diners of all ages and all income levels in the neighborhood. We will package and present our buffets so as to entertain all sections of… [END OF PREVIEW] . . . READ MORE

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