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  • We are proposing an Argentine steakhouse in the city of Walnut. Moderately price restaurant currently unavailable. An Argentine steakhouse will surpass the population’s need and focus on providing excellent service and quality.Too detailed? Might need to be more broad.
  • What is the industry like?Establish ourselves as expert
  • Make investment banker have a goal
  • Focus on primary research such as interview.Ex. I talked to experts on the field, surveys.Shows that you’re aggressive and trying to get it together.
  • Changed back to color since each category is hard to distinguish with black and white
  • Upscale restaurant, midrange restaurant, dive bar? What is it you’re trying to do and how will you execute it.
  • Decide on the perfect quiet location. Grand Opening Specials and advertisement. Advertise at Walnut family festival. 50% off entrée special with purchase of 1 entrée.

Che Presentation Che Presentation Presentation Transcript

  • Presented by: Peter Edwards, Alex Galvan, Po-Cheng Hsu
  • Argentine Steakhouse
    Excellent Service
    Quality Meat and Beverage
    Moderate Price
  • Scope
    Not widely known
    More Expensive
    Meat, meat, and more meat…
  • Objective
    Short Term:
    Establish the business
    Achieve profitability
    Obtain few but loyal customers
    Long Term:
    Comfortable environment + Excellent service
    Widen ethnic food offered around the community
  • Methodology
    City of Walnut – Facts
    32,386 Residents in 8.9 sq. miles
    Majority are 55 to 59 years old at 20%
    Followed by 35 to 49 at 13.8%
    70th best place to live according to CNN Money
  • Methodology
  • Methodology
  • Methodology
    A search for “Restaurants” within 5 miles radius through yelp yielded the following information:
    304 Results
    301 priced between $1 to $30
    2 Steakhouses
    Most closes between 9 to 10pm
    3 priced between $31 to $60
  • Methodology
    A search for “Restaurants” within 5 miles radius through yelp yielded the following information:
    Positive reviews
    Fresh/organic ingredients
    Close proximity to their house
    Good service
    “Warm and cozy” atmosphere
    Uniqueness
    Negative Reviews
    Long serving time
    Poorly maintained facility
    Cheap ingredients
  • Findings
    Quality ingredient + excellent service
    Menu and service adapted to Asian customers
    Nutritious ingredients to older population
    Priced between $30 to $65 to fill demand
    Open late for late-night workers
  • Business Impact
    Capturing our customers
    Personnel
    Focus on delighting the customer
    Bilingual in Chinese and Tagalog
    Hours of Operation
    Late Night
    Keep the drinks flowing
  • Business Impact
    Budget
    Slightly higher then normal
    ROI
    14%
    Pay back about 6 years or sooner
  • Expected Income
    Expected Rev : $1,944,000
    Expected Expense: $ 1,700,400
    Expected $243,600 Net Income
  • Next Steps
    Choosing Optimal Location
    Marketing/Advertising
    Hiring
  • Sources
    American Consumer Series, Initials. (2009). Racial and ethnic diversity : asians, blacks, hispanics, native americans, and whites [ 6th ed. ]. Retrieved from http://go.galegroup.com.lib-proxy.fullerton.edu/ps/aboutEbook.do?actionString=DO_DISPLAY_ABOUT_PAGE&inPS=true&prodId=GVRL&userGroupName=csuf_main&searchType=BasicSearchForm&docId=GALE|9781935114512&contentSegment=9781935114512
    City of Walnut. (2010). Demographics. Retrieved from http://ci.walnut.ca.us/general.asp?id= 149
    City of Walnut. (2010). Walnut's demographics, buying power, and market area. Retrieved from http://ci.walnut.ca.us/upload/demographics_buying_power.pdf
    City of Walnut. (2010). Opportunity. Retrieved from http://ci.walnut.ca.us/upload/vacancies.pdf
    CNN Money. (1, August 2009). Best Place to Live 2009, Retrieved from http://money.cnn.com/ magazines/moneymag/bplive/2009/snapshots/ PL0683332.html
    U.S. Department of Commerce, U.S. Census Bureau. (2010). 2007 economic census - los angeles county Retrieved from http://factfinder.census.gov.lib-proxy.fullerton.edu/servlet/IBQTable?_bm=y&-ds_name=EC0744A1&-geo_id=05000US06037&-dataitem=*
    Walnut (city) QuickFacts from the US Census Bureau. (2010). Retrieved from http://quickfacts.census.gov.lib-proxy.fullerton.edu/qfd/states/06/0683332.html
    U.S. Census Bureau. (2006-2008). American Community Survey 3-Year Estimates. Retrieved from http://factfinder.census.gov.lib-proxy.fullerton.edu/servlet/ADPTable?_bm=y&-qr_name=ACS_2008_3YR_G00_DP3YR3&-geo_id=16000US0683332&-gc_url=&-ds_name=ACS_2008_3YR_G00_&-_lang=en.