This document provides a marketing plan for Southbound, a new restaurant in Fort Lauderdale, Florida specializing in grilled cheese sandwiches and hot dogs. The plan outlines the company description, strategic focus, situation analysis including SWOT analysis, market and product focus, marketing program strategy and tactics, financial projections, organizational structure, and implementation and evaluation plans. The owners analyzed the local market and saw an opportunity to open a specialty grilled cheese and hot dog restaurant with unique menu items and a retro, rock and roll atmosphere. Their goals are to attract both local and tourist customers and establish themselves as one of the most popular restaurants in the area within five years.
Before you start writing your business plan for your bar business, spend as much time as you can to reading through some samples of bar or food and restaurant business plan templates. Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans.
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Before you start writing your business plan for your bar business, spend as much time as you can to reading through some samples of bar or food and restaurant business plan templates. Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans.
We have created a sample bar business plan example for you to get a good idea about how a perfect bar business plan should look like and what details you should include in your business plan.
Source: https://upmetrics.co/template/bar-business-plan-example
Raising money for Masters Grill, Sports Bar, Live Music and get great perks like food discounts, guaranteed tables, and previews of new menu items. Foodstart is the only crowdfunding site created just for restaurants, breweries, cafes, food trucks, and other food business.
Working Capital Management and Profitability on Company (papa-john pizza)Tahmina_Akter
Papa John’s pizza is the world's third largest pizza consumer company in terms of sales, behind Pizza Hut and Domino's Pizza . The pizza industry is largely fragmented and competitors include international, national and regional chains, as well as a large number of local independent pizza operators.
Raising money for Masters Grill, Sports Bar, Live Music and get great perks like food discounts, guaranteed tables, and previews of new menu items. Foodstart is the only crowdfunding site created just for restaurants, breweries, cafes, food trucks, and other food business.
Working Capital Management and Profitability on Company (papa-john pizza)Tahmina_Akter
Papa John’s pizza is the world's third largest pizza consumer company in terms of sales, behind Pizza Hut and Domino's Pizza . The pizza industry is largely fragmented and competitors include international, national and regional chains, as well as a large number of local independent pizza operators.
Before you start writing your food cafe business plan, spend as much time as you can to reading through some samples of food and restaurant business plans. Not only will that give you a good idea of what it is you’re aiming for, but it will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their future plans.
We have created a sample food cafe business plan example for you to get a good idea about how a perfect food cafe business plan should look like and what details you should include in your business plan.
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Bus201 - Introduction To Business !!ATTENTION PLEASE!!
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2. 2
Page
1.0 Executive Summary 3
2.0 Company Description 4
3.0 Strategic Plan and Focus 4
3.1 Mission and Vision Statement 4
3.2 Goals 5
3.3 Core Competencies and Competitive Advantage 5
4.0 Situation Analysis 6
4.1 Micro Environment 6-7
4.2 SWOT Analysis 7
5.0 Market Product Focus 8
5.1 Growth Strategies 8
5.2 Target Market, Point of Difference, Positioning 9-10
6.0 Marketing Program Strategy and Tactics 10-14
7.0 Financial Projections 14
7.1 Markup 14
7.2 Break Even Analysis 14-15
7.3 Five Year Projections 15
8.0 Organizational Structure 15
8.1 Organizational Chart 15
9.0 Implementation 16
10.0 Evaluation and Control 16-17
Appendix 1. 18
1.0 Executive Summary
3. 3
Southbound is the newest restaurant on the Fort Lauderdale beach. Its two
owners Kelly and Bob Van Epps run the daily operations and are the chefs at the
restaurant. They are from Albany, New York and realized there was a gap in the
grilled cheese sandwiches and hot dog market in Florida. After realizing this gap,
they decided to open Southbound right on the beach to create unique grilled cheese
sandwiches and hot dogs in a rockin’ family run restaurant that always has
customers leaving with a smile.
After analyzing the restaurant business in Fort Lauderdale we saw that there
were very few specialty grilled cheese sandwiches and hot dog restaurants in the
Fort Lauderdale area. Having a dream of wanting to open a restaurant featuring our
favorite foods, we knew this was the perfect time and place. Having experience in
the restaurant field, we know what it takes to open your own restaurant.
Southbound features products that are always homemade and made is fresh
ingredients. All of the products we use are locally grown and harvested in and
around the Fort Lauderdale area. Daily deliveries of food ensure that we are always
using the best and freshest products.
Featured items on the menu include “That Smell” which has pepper jack and
cheddar cheese with bacon, tomato and avocado on sourdough bread. We also
feature “All Night Train” which is mini hot dogs with the works (mustard, onions
and homemade meat sauce). All of our food is served in a unique rock and roll
environment. All of the menu items and the restaurant are named after famous
bands such as: The Allman Brothers, Lynyrd Skynyrd and Aerosmith.
Being located right on the beach we are in a great location to attract our
target market. Selling food that is high quality and can be made quickly will draw in
tourists looking for a delicious meal and local residents who are out shopping at the
shops on the beach. While serving our customers we always want to achieve having
customers leaving with a smile and planning their next trip back.
2.0 Company Description
4. 4
Southbound is the newest restaurant located on the beach in Fort
Lauderdale, Florida. After traveling to Florida many times, my dad and I realized
that there were very few grilled cheese and hot dog restaurants in Florida. Growing
up in Albany, New York we grew up eating grilled cheese sandwiches and going to
hot dog restaurants such as Gus’s and Famous Lunch. We decided that we needed to
open a restaurant that serves unique grilled cheese sandwiches, mini hot dogs with
home made meat sauce, a variety of homemade soups and french fries with gravy in
a vintage rock and roll environment.
Fort Lauderdale has a population of 170,747 residents who earn a median
income of $46,145 a year. With a very warm climate all year long residents are
always taking advantage of outdoor activities like going to the beach, boating,
running, playing sports and walking around town. We believe that Southbound will
fit into the Fort Lauderdale lifestyle and the residents will love our food.
3.0 Strategic Plan and Focus
3.1 Mission Statement
To create unique grilled cheese sandwiches and hot dogs in a rockin’ family
run restaurant that always has customers leaving with a smile
Vision Statement
Southbound aims to be one of the most popular restaurants in southern Florida
within the first five years of business by serving top quality food made with fresh
ingredients.
3.2 Goals
5. 5
Financial:
1. Within the first three years of business we would like to pay back any
loans that were taken out for the restaurant equipment and furnishings.
2. Have a profit margin of 20% in the first four years of business.
3. Make enough profit in the first five years of business that we can operate
only nine months of the year allowing us time off to go back to New York.
Nonfinancial:
1. Only have to hire two or three non-family member employees.
2. Obtain at least a four star rating by customers within the first ten months
of business.
3. Create unique products that are 100% fresh and leave people wanting to
return again.
3.3 Core Competencies and Competitive Advantage
Our primary competitive advantage is that we offer a menu that you cannot
find anywhere else in Fort Lauderdale. We offer unique grilled cheese sandwiches,
mini hotdogs with homemade meat sauce and french fries with gravy. Another
competitive advantage is that we are a family run restaurant that has experience in
the restaurant business. Unlike other restaurants that have a standard grilled
cheese sandwich with processed cheese on white bread, we offer fresh non-
processed ingredients that are all locally grown and harvested.
4.0 Situation Analysis
6. 6
4.1 Micro Environment
Customer Analysis:
Southbound is going to have a very wide range of customers. Our customers
will include children, adults, college students and senior citizens. Fort Lauderdale
residents are very active people who are always outdoors and at the beach. With
the many shopping centers and stores along the beach people are always looking to
find something tasty to eat. The residents of Fort Lauderdale are of middle-income
and don’t want to pay an outrageous amount for a meal. Many tourists come to the
area especially in the summer months. They will be looking for something different
to eat that they cannot find anywhere else in the area and our menu will attract
them.
Competitor Analysis:
Southbound only has one competitor in the direct Fort Lauderdale area. The
New York Grilled Cheese Company features its menu around grilled cheese
sandwiches. Their prices are set much higher then Southbound, which we believe is
an advantage for us. With the residents being of middle-income, they are not going
to want to spend $10.00 on a grilled cheese sandwich. New York Grilled Cheese
Company also does not offer hot dogs. We believe that we will be able to control the
market and attract customers to Southbound very easily.
Supplier’s Analysis:
Southbound uses only ingredients that are locally grown and harvested
around the Fort Lauderdale area. We work with local farmers and meat markets to
7. 7
obtain the highest quality of products. Food shipments will be sent every day to
ensure that food is always fresh.
4.2 SWOT Analysis:
A SWOT (Strength, Weakness, Opportunity and Threat) analysis allows us to
see and understand what we are doing well and what we need to work on. Seeing
threats and weaknesses allows us to take the proper means to fix them to create
greater strengths and fewer threats.
InternalFactors Strengths Weaknesses
Management Experience in restaurant
business; family run
New restaurant owners;
small staff and small
building
Offerings Unique products not found
anywhere else in the area
People not connecting to the
products; limited menu
Manufacturing All local and fresh
ingredients; won’thave high
shipping costs forproducts;
few ingredients needed
Distributor running out of
products leading us to
buying ingredients that are
not fresh
Personnel Family members working in
restaurant who are already
trained on the products;
small staff
Having a small staff leaves
little room for error and
more hours workedfor each
employee
Marketing Connecting withcustomers
through social media, and a
primary and secondary
target market
Not being recognized from
people out of the area
External Factors Opportunities Threats
Consumer/Social In a populated area made up
of middle-class. Peopleare
familiar with the product
Customers not connecting
with yourproduct; bad
location
Competitive Selling a similar product at a
lower price
Customers only going to the
competition; chains enter
the area
Technological Personal sound systems at
each table, ordering online
or on the app
Orders are not made fresh
when they are ordered
online or on the app
Economic Our prices work wellwith a
middle class environment
More households cooking at
home
Legal/Regulatory Lawyercan help obtain
necessary permits
Using song titles for menu
items
8. 8
5.0 Market- Product Focus
5.1 Growth Strategies
Market/ Product Diversification Analysis:
Southbound is focusing on Market Development as our primary growth
strategy. We are selling a product that is positioned in the mind of the consumer as
a children’s food. We want to reposition grilled cheese to a new market of adults
and teenagers. Getting new customers from the competition is also a goal of ours.
9. 9
5.2 Target Market, Points of Difference and Positioning
Target Market:
While conducting research about target markets of other restaurants
comparable to Southbound we noticed that the primary customers were local
residents and tourists. With a menu with limited options and very low prices we
want to attract the middle class and families.
A grilled cheese sandwich is primarily recognized as a children’s food in most
consumer’s eyes. But, with the multiple options of specialty grilled cheeses and
build your own grilled cheese sandwich, we want to attract adults as well.
After conducting interviews and surveys we concluded that our primary
target market was going to be local residents with families and tourists. Our
secondary target market is going to be college students who go to school in the area
and local businesses.
Points of Difference:
Southbound has found that while looking at other restaurant menus in the
area we have a menu unlike any other.
We offer fresh and local ingredients that are always used in
homemade recipes.
Our menu has high quality products that are always offered at low
prices.
Southbound is located on the beach where a large portion of tourists
will be.
Customers can enjoy New York style menu items, which are offered
nowhere else in the area.
Weekly specials of specialty grilled cheese sandwiches and homemade
soups.
10. 10
Positioning:
Southbound would like to be viewed in the mind of the customers as a
restaurant that has a great atmosphere while serving quality food. We would also
like to be known for our low price menu that always makes you want to return for
more.
6.0 Marketing Program Strategy and Tactics
Product Strategy:
From the research that we have conducted, we were able to determine what
groups of people would visit us the most and for what meals.
Market-Product Grid:
Market Segment Lunch Dinner Snack Total
Local Residents 5 4 3 12
Tourists
Spring
Summer
Fall
Winter
5
5
3
4
4
5
2
3
3
4
2
2
12
14
7
9
College Students 5 5 4 14
Businesses 5 2 3 10
After looking at the market-product grid, we see that it is best for
Southbound to segment our market towards: tourists in the spring and summer,
local residents and college students and businesses. These numbers reflect that
local residents will be going out to lunch and dinner often; spring and summer are
the biggest tourist’s seasons and college students and business employees will also
be going out to lunch often. The numbers can also help us determine our hours of
operation. We will not be open for breakfast but we will open at 11am for lunch
every day of the week. Monday-Thursday and Sunday we will stay open until 10pm
11. 11
and Friday-Saturday we will be open until 12am. College students have one of the
highest snack numbers and most of those snacks will take place late at night after
dinner and on the weekends. Since they are in our secondary target market staying
open later on the weekends can benefit us when they come to eat later in the night.
Southbound has a small product line with many different options for each
product on the menu:
Fresh bread including white, wheat, Italian, rye, sourdough and gluten free.
Local fresh cheese’s such as American, Cheddar, Swiss, Pepper Jack, Brie,
Mozzarella, Blue Cheese and Gorgonzola.
Toppings that can be added to any sandwich such as bacon, tomato, avocado,
grilled onions, chips, mushroom, jalapeños, ham, turkey and chicken.
A house salad.
Food that is always made to order.
Homemade soups made from family recipes.
Beverages including: soda, lemonade, ice tea, chocolate milk and white milk.
One of Southbound’s core values is that we want to always use fresh
ingredients that are locally grown or made. We know that using fresh products
makes a difference in food quality and we want our customers to always think of our
food as high quality. All of our bread is baked daily at a local bakery. Our cheeses
are from farms in the area and our meat for the sandwiches and hotdogs are from a
local butcher.
Our menu is designed around the theme of Rock and Roll. All of the items are
named after famous songs from bands like the Allman Brothers, Lynyrd Skynyrd
and Aerosmith. All menu items are listed in Appendix 1.
12. 12
Price Strategy:
Southbound uses the penetration pricing strategy. This strategy was chosen
because we want to sell our products at a low price and sell a lot of volume. This
strategy also works well with our target market being local residents, college
students and tourists.
Specialty grilled cheese sandwiches starting at $3.50.
Build your own grilled cheese starts at $3.25. Adding toppings onto your
sandwich ranges from $.25-$2.00 depending on what toppings are chosen.
When toppings are added to sandwiches there is an additional charge
depending on the chosen toppings.
o Specialty cheeses are $.75.
o Vegetables and chips are an additional charge of $.25 while the
addition of meat is $.75.
A plain hot dog is $.75; with the works is $.90.
French fries are priced at $2.75 and to add gravy they are $3.25.
A house salad is $4.00
A small soup is $2.25 and a large is $3.00
Beverages range from $.75-$2.00
The average price for a meal is from $6.75-$9.00. Since we are going to sell in
volume to many customers we are able to keep our prices low. Our prices are
comparable to many fast food chains but the difference is the quality of our
ingredients and the time we take to make our food to order.
Place Strategy:
Southbound is located on the beach in Fort Lauderdale, Florida. The main
street in the city runs right along the beach where Southbound is located. There are
two entrances, one from the street side where people who are shopping and taking
walks can enter; another entrance is on the beach side where surfers and beach
goers can enter. The building is right next to a public parking lot where we have
13. 13
signs posted advertising the restaurant for the public to see. We also have a large
colorful sign with our logo in front of the building and on the beach.
Promotion Strategy:
As a new restaurant we know that we are going to need a lot of promotional
activity to gain attention of customers. In order to advertise in the most productive
ways we want to write an article to be in the Sun-Sentinel and Miami Herald
newspapers; have flyers and menus in the tourist center in the city and at the local
colleges; have coupons in the local food magazine and make a Facebook and Twitter
account for Southbound.
By having an article in the local newspaper of Broward County and the Miami
newspaper we will be able to gain awareness from local residents and businesses.
While reading the article people can learn about our restaurant and see that we are
a small family run business that loves the city we live in and wants to serve
everyone in the community.
Tourists are one of our primary target markets. Since the most popular
tourist seasons are in the spring and summer we want to have flyers and menus in
the Fort Lauderdale tourist center so they know who we are and what food we offer.
We will also have flyers posted at the beach for beach goers. Flyers will also be
posted at Nova Southeastern University and Broward State College to reach the
attention of college students.
The Fort Lauderdale Super Summer Savings booklet is a coupon booklet for
local restaurants to post coupons in. We will have coupons in the booklet such as
buy one sandwich get one half off or buy five hot dogs get two free. These coupons
14. 14
will be available during the first six months of business. After the first six months a
variety of coupons will only be given to customers after a purchase.
In society today everything is about technology. Social media plays a big role
in many businesses and we will make a Facebook page and a Twitter account. On
our Facebook page our address, phone number, hours and menu will be posted.
Pictures of Southbound will be added along with posting the specials of the week.
Creating a Twitter account will be used to offer promotions for a small window of
time, for example, buy one hot dog get one free from 2-3pm. We will also post the
specials of the week and daily soup specials and have customers tweet their
feedback to us.
7.0 Financial Projections
7.1 Markup
It costs Southbound an average of $1.50 to make one grilled cheese sandwich
including toppings. Those sandwiches are being marked up 217 percent to be sold
starting at $3.25 and marked up 333 percent to be sold at $5.00 with additional
toppings. It costs $.50 to serve a hot dog and they are being marked up 150 percent
when sold at $.75 and marked up 180 percent when they are sold at $.90.
7.2 Breakeven Analysis
In order to calculate our breakeven amount we had to estimate the average
cost of a meal. We found that the average amount for a meal with a side and drink is
$8.00. Our fixed costs are $50,000 per year, which includes rent, equipment and
loan payments. The unit variable cost is $4.00, which includes production of each
15. 15
sandwich/hot dog, costs of employees per meal and other costs. The breakeven
point for Southbound is as follows:
BEP= (Fixed Cost/ (P- Unit Variable Cost))
BEP Quantity= ($50,000/ ($8.00-$4.00))= 12,500 Meals
BEP Revenue= 35,000 Meals x $8.00/meal= $100,000
7.3 Five Year Projections
Our five-year projections are to cut our fixed costs by $20,000 a year from
paying back loans and equipment costs. We would also like to cut our average unit
variable cost to $3.50. Making these changes will allow us to have a greater profit
margin. With these changes our new breakeven point would be as follows:
BEP Quantity=($20,000/ ($8.00-$3.50))= 4,444 Meals
BEP Revenue= 4,444 Meals x $8.00/meal= $35,552
8.0 Organizational Structure
8.1 Organizational Chart
Southbound is a family run restaurant that is owned and operated by a father
and daughter duo, Robert and Kelly Van Epps. Both Kelly and Robert run the daily
operations of the restaurant and keep all of the financial books. We plan to hire
three more non-family member employees to help run the restaurant.
Expectations
Suppliers Distribute products daily including
bread, cheese, vegetables and meats.
Graphic Designer Create and design the menu and website.
Lawyer Make sure all laws and regulations are
followed along with proper permits and
codes.
Accountant Oversee financial records.
16. 16
9.0 Implementation Plan
As a new restaurant we know that many of our goals and objectives in our
implementation plan are going to be short term:
Have an article in the Sun-Sentinel and Miami Herald in June 2014.
Hire three more staff members in June 2014
Release coupons to the Super Summer Savings Booklet, June 2014
Create the Facebook and Twitter pages in June 2014
Fully furnish the building with décor by July 2014.
Create and distribute flyers during July 2014
Grand opening of Southbound on August 4, 2014
Read and respond to customer comments and tweets from social media,
August-September 2014
In order to monitor all of the deadlines, we will need to follow a very detailed
implementation plan. Kelly and Bob will be working every day to ensure that all of
the day’s tasks are completed. If deadlines are not being met, it may be needed to
hire an additional team member.
Many resources will be needed in order to fulfill all of the plans. Bob and two
team members will be responsible for all of the furnishings of the restaurant. Kelly
will be in charge of the articles in the papers, social media and coupons. We will
need access to a printing facility for the flyers and contact the newspapers to get
authorization to have an article printed.
10.0 Evaluation and Control
As a new business we plan to meet and exceed all of our goals on time, but
we know that obstacles may get in the way and a new plan and deadlines may need
to be made. In order to prepare for these obstacles we have laid out possible
17. 17
circumstances that could affect our deadlines and business and have created
temporary solutions for them.
Possible Obstacles:
Not having all of the furnishing complete by the deadline.
Customer not connecting to our product like we have envisioned.
Not having enough staff to smoothly operate the restaurant leading to
unsatisfactory service.
Solutions:
If all of the furnishing cannot be completed by the original deadline we will
hire more team members to finish the furnishing and create a new deadline.
The new deadline will be determined by how much work is left to be done
and how many team members we have to work on the furnishings.
There is a possibility that customers will not connect with our product and
we will not achieve the sales that we had hoped for. If we are not having
enough sales we will need to conduct surveys from our customers asking
what they think we need to improve upon. We also will increase our
marketing budget so that more people can notice us.
Not having enough staff to run the restaurant is a big obstacle. We would
need to hire more staff which also means we would have to take time so that
they are properly trained. One current team member would be in charge of
training all new team members so time is used more effectively.
18. 18
Appendix 1
Southbound
Build Your Own Grilled Cheese
Price starts at $3.25 and additional cost per topping
Boogie Man- Choose a cheese and topping
DreamOn- Choose a cheese and two toppings
Sweet Emotion- Choose a cheese and three
toppings
Walk This Way- Choose a cheese and four
toppings
Breads
White, Wheat, Sourdough, Rye, Italian, Gluten
free
Toppings
Bacon, Tomato, Avocado, Grilled Onions, Chips,
Mushrooms, Jalapeños, Ham, Turkey, Chicken
Veggies and chips add $.25, meats add $.75
Cheese
American , Cheddar, Swiss, Pepper Jack, Brie*,
Mozzarella*, Blue Cheese*, Gorgonzola*
*add $.75
Drinks
Soda, Lemonade, Ice Tea, Chocolate Milk and
White Milk
Specialty Grilled Cheese
GimmeThree Steps- Pick three cheeses….$4.00
Blue Sky- Cheddar and American with tomato
on white….$4.50
Midnight Rider- American and cheddar cheese
with meat sauce on Italian….$3.50
Win, Lose or Draw- Nan’s mac and cheese on
Italian….$4.00
That Smell- Pepper jack and cheddar cheese
with bacon, tomato and avocado on
sourdough….$4.25
Hot Dogs
Ramblin’Man- Plain…$.75
All Night Train- with the works*….$.90
*works (onions, mustard, meat sauce)
Sides and Soups
One Way Out- French fries….$2.75
Call Me the Breeze- French fries and
gravy….$3.25
Jessica- House salad….$4.00
Old Friend- Creamy Tomato
Soul Shine- Mom’s chicken noodle
Stormy Monday- Uncle Gene’s pasta fagioli
Saturday Night Special- Soup of the day
Small Soup-$2.25, Large Soup-$3.00