This document provides a business plan for The Canal Bar, a proposed restaurant and bar in Las Colinas, Texas. The executive summary outlines the concept of providing quality food, drinks, and live local entertainment in a unique canal-side location. The target market is 21-45 year old professionals in Irving. The plan includes sections on vision/mission, industry analysis, products/services, marketing strategy, management, finances, and investment proposal. Key points are establishing The Canal Bar as a community gathering place and nightlife destination in Las Colinas through its atmosphere, entertainment, and focus on customer service.
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
Enterslice team helps in Reducing the burden on founders via well defined & Evaluated process, structure, and investor connections. Overall roughly a 1.5 % % hit rate for the companies that pitched in 2015 for Funding.
Capital Raising is also a tremendous time commitment. It is not uncommon to spend 2 to 6 months of nearly full-time effort on a successful venture round.
We can help. We’ve been through the process multiple times; we’ve served as Lead Advisor, Consultant to Founders, Interim CEO or CFO to startup clients that have successfully raised funding.
To know more about our Investment Banking services, please write to info@enterslicellp.com If you want to visit us please click this button
www.enterslicellp.com
What is bar? What are the different types of beverage service industry. Packed for you to read, study and learn about bar and bar and beverage industry.
Business Proposal & Proof of Concept for a Restaurant for a Leading Shopping ...Surya Adavi
Objectives: Developing a concept for a new business vertical creation for a shopping mall giant to diversify the risk of investment and maximize the operational synergies to boost its brand image.
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
Enterslice team helps in Reducing the burden on founders via well defined & Evaluated process, structure, and investor connections. Overall roughly a 1.5 % % hit rate for the companies that pitched in 2015 for Funding.
Capital Raising is also a tremendous time commitment. It is not uncommon to spend 2 to 6 months of nearly full-time effort on a successful venture round.
We can help. We’ve been through the process multiple times; we’ve served as Lead Advisor, Consultant to Founders, Interim CEO or CFO to startup clients that have successfully raised funding.
To know more about our Investment Banking services, please write to info@enterslicellp.com If you want to visit us please click this button
www.enterslicellp.com
What is bar? What are the different types of beverage service industry. Packed for you to read, study and learn about bar and bar and beverage industry.
Business Proposal & Proof of Concept for a Restaurant for a Leading Shopping ...Surya Adavi
Objectives: Developing a concept for a new business vertical creation for a shopping mall giant to diversify the risk of investment and maximize the operational synergies to boost its brand image.
If you are planning to start a new restaurant business, the first thing you will need is a restaurant business plan. Use our restaurant business plan template created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new restaurant, spend as much time as you can reading through some samples of restaurant and cafe business plan templates. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this restaurant business plan template for you to get a good idea about how a perfect restaurant business plan should look like and what details you will need to include in your stunning business plan.
Restaurant business plan.
Restaurant is one of the most common business ideas. It’s a kind of business which has a high demand of all the time. If you want to be successful in restaurant business, you must follow some critical success factors. Restaurant business is highly risk averse business idea. If you don't get any business to start then you can easily start the restaurant business to avoid any kind of risky business engagement. If you’ve wanted to start a restaurant for years, it might be the best time to draw up a plan to open your business. You need a restaurant business plan to get the business funding such as Bank Loan, Investors and sponsor-holder etc. Your business plan should include market research, competitors Analysis, target audience, marketing plan, and a financial and budgeting projection. Hopefully this Presentation will help you to write a good Restaurant business Plan.
Knock me for more details https://planforstartup.com/
Before you start writing your hotel business plan, spend as much time as you can to reading through some samples of a hotel or 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 hotel business plan example for you to get a good idea about how a perfect hotel business plan should look like and what details you should include in your business plan.
Source: https://upmetrics.co/template/hotel-business-plan-example
This report was completed during the Fall 2009 Ohio University Business Cluster. This report was made for two clients, wanting to put a wine bar in Athens, Ohio
Restaurant business plan v1562159535406Upmetrics.co
Before you start writing your restaurant 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 restaurant business plan example for you to get a good idea about how a perfect restaurant business plan should look like and what details you should include in your business plan.
Source: https://upmetrics.co/template/restaurant-business-plan-example
presentation on business plan coffee cafe .how to start new business one should construct a business plan for their new business . a business plan is a formal statement of business goals, reasons they are attainable ,and plans for reaching them. it may also contain background information about the organization or team attempting to reach those goals.
If you are planning to start a new restaurant business, the first thing you will need is a restaurant business plan. Use our restaurant business plan template created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new restaurant, spend as much time as you can reading through some samples of restaurant and cafe business plan templates. Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this restaurant business plan template for you to get a good idea about how a perfect restaurant business plan should look like and what details you will need to include in your stunning business plan.
Restaurant business plan.
Restaurant is one of the most common business ideas. It’s a kind of business which has a high demand of all the time. If you want to be successful in restaurant business, you must follow some critical success factors. Restaurant business is highly risk averse business idea. If you don't get any business to start then you can easily start the restaurant business to avoid any kind of risky business engagement. If you’ve wanted to start a restaurant for years, it might be the best time to draw up a plan to open your business. You need a restaurant business plan to get the business funding such as Bank Loan, Investors and sponsor-holder etc. Your business plan should include market research, competitors Analysis, target audience, marketing plan, and a financial and budgeting projection. Hopefully this Presentation will help you to write a good Restaurant business Plan.
Knock me for more details https://planforstartup.com/
Before you start writing your hotel business plan, spend as much time as you can to reading through some samples of a hotel or 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 hotel business plan example for you to get a good idea about how a perfect hotel business plan should look like and what details you should include in your business plan.
Source: https://upmetrics.co/template/hotel-business-plan-example
This report was completed during the Fall 2009 Ohio University Business Cluster. This report was made for two clients, wanting to put a wine bar in Athens, Ohio
Restaurant business plan v1562159535406Upmetrics.co
Before you start writing your restaurant 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 restaurant business plan example for you to get a good idea about how a perfect restaurant business plan should look like and what details you should include in your business plan.
Source: https://upmetrics.co/template/restaurant-business-plan-example
presentation on business plan coffee cafe .how to start new business one should construct a business plan for their new business . a business plan is a formal statement of business goals, reasons they are attainable ,and plans for reaching them. it may also contain background information about the organization or team attempting to reach those goals.
Comparative analysis on mac d and dominosAnuj Chauhan
comparative analysis between Domino's and Mac-D according to their taste, and preferences & different variants those effects the teenagers and today's generation.
(iCHEFTeam A) (DeVry Inc. MGMT 600 November.docxjoyjonna282
(
iCHEF
Team A
) (
DeVry
Inc.
|
MGMT 600
|
November 24, 2015
)
Industry Review
iCHEF is a convenient service presented to our customer through a mobile APP. We offer an array of Appetizers, Entrees and Desserts. The industry we are embarking on is the Food Service and Catering industry.Examining the food service/ catering industry, we’ve learned that this industry is on the rise. It is an industry that is expected to expand over the next five years. This industry will continue to grow and define its niche by being innovative, offering international cuisines and beverages, and using sustainable locally sourced produce. The industry has received a boost from an improving economy, as consumer spending is expected to rise at an annualized rate of 2.6% during the five years to 2020. Households, which account for over 50.0% of industry demand, are expected to bolster their demand for catering services as consumer conditions improve. Unemployment is forecast to decline over the next five years, while disposable income is expected to moderately grow. As consumer conditions improve, time-poor consumers are also expected to prefer to use catering services, rather than attempt to do it themselves.
Over the next five years, consumers will continue to demand higher-quality food, better food presentation and a wider menu selection with healthier alternatives. Many customers will also begin to seek out caterers that use organic and locally sourced foods. Menus will need to more thoroughly describe items, by methods such as listing ingredients, where they came from and how they were prepared. These new demands may force some operators to increase their purchase expenses, or choose to vertically integrate by owning and operating their own farms. Consumers will also demand more value-added services, such as decorations, floral arrangements and entertainment. Overall, the number of industry enterprises is anticipated to increase 1.2% per year on average to 11,320 households and businesses.
Industry profitability is expected to strengthen and stable over the next five years in line with rising demands of the consumers. However, profit growth will be limited by strong internal and external competition and forecast rising purchasing costs. As competition rises, it will become even more important for operators to define their niche and find a way to differentiate themselves from competitors, whether through services offered or quality of service. Food costs are forecast to increase due to strong emerging market demand and volatile weather conditions. The trend towards serving more innovative, exotic food and using locally sourced and sustainable produce will also increase purchasing costs for caterers. Wage costs are also expected to increase by 2.0% per year on average over the next five years to reach $3.0 billion, as higher-paid chefs and consultants are brought on to provide more complex fare.
Looking ahead the food service/caterers industry is in the mat ...
Subway 7TABLE OF CONTENTSI. EXECUTIVE SUMMARY .docxjames891
Subway 7
TABLE OF CONTENTS
I. EXECUTIVE SUMMARY
II. SITUATION ANALYSIS
A. COMPANY BACKGROUND
B. INDUSTRY OUTLOOK
C. COMPETITIVE ANALYSIS
III. SALES PLAN
A. TEAM MANAGEMENT
1. TEAM STRUCTURE & ORGANIZATIONAL CHART
2. TERRITORY DESIGN, ROLES AND RESPONSIBILITIES
3. CLIENT / ACCOUNT MANAGEMENT
4. COMPENSATION PLAN
5. TRAINING & MOTIVATION
B. SALES FORECAST
1. OVERALL MARKET POTENTIAL & ASSESSMENT
2. GOALS BY PRODUCT LINE
3. GOALS BY TERRITORY, SALESPERSON & ACCOUNT
IV. EVALUATION PLAN
A. PERFORMANCE METRICS
B. EVALUATION STANDARDS / PROCEDURES
C. RECOMMENDATIONS / NEXT STEPS
EXECUTIVE SUMMARY
One of the biggest problems facing people on a college campus is the lack of access to healthy, affordable food. Most fast food chains only offer unhealthy, greasy food that is simply not good for a person’s body. Subway restaurants have created a name for themselves by offering the health-conscious consumer a healthy alternative to fast food at an affordable price and in a short amount of time. People on a college campus, such as students and professors, are busy people with hectic schedules. They shouldn’t have to sacrifice a health for convenience. This is where Subway can implement this new brand extension of Subway Delivery on college campuses to infiltrate this need in the market. With Subway Delivery, students and professors who spend hours on campus can get a healthy and affordable meal delivered right to them. They will no longer have to choose between a meal that is good for them and a meal that is cheap and easy for them to get on the run. Subway Delivery offers them the best of both worlds.
This brand extension will begin in twelve colleges and universities with the New England area. As Connecticut is the home of the first Subway restaurant, this brand extension stays close to the roots of the company. One of Subway’s foundations of running their business is finding high traffic locations. College campuses are a perfect way to ensure business. College-aged people are known for wanting things quickly, as they are the generation of technology. Subway Delivery is the perfect way to help college students stay healthy on campus and have an easily accessible source of food.
SITUATION ANALYSIS
COMPANY BACKGROUND
In 1965, Fred DeLuca was determined on becoming a medical doctor. However, medical school is expensive and DeLuca needed money in order to complete his dreams. A family friend, Peter Buck, suggested the idea of opening a submarine sandwich shop. With a $1,000 loan from Buck, the duo opened “Pete’s Subway” and would later change the landscape of the fast food industry. In 1966 DeLuca and Buck incorporated a company called “Doctor’s Associates” which privately holds Subway to this day.
The first shop .
This was the year I placed first in the state of Florida and third in the world for my 30-page international business plan and 15-minute oral presentation.
Eatery Pulse News Media was created to increase restaurateurs’ access to news and insights, while promoting the excitement and relevance of the restaurant industry to the larger food community. Hospitality and culinary innovation are not enough to succeed in today’s foodservice environment. Restaurants need additional parts of the success equation found in what we call “the business of restaurants”—the economics and business best practices that drive results and revenue.
Culinary innovators, and the larger industry of restaurant owners and operators, deserve tools to succeed. Our flagship D.C. magazine, Eatery Pulse News, is here to build that toolkit for restaurateurs, providing information on best practices, industry news & events, online, on social media, and eventually on the air.
Sample business plan assignment for students. Its is simple, yet professional, and students can use it as a guide. You can contact us for a custom business plan template for students.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
"Impact of front-end architecture on development cost", Viktor TurskyiFwdays
I have heard many times that architecture is not important for the front-end. Also, many times I have seen how developers implement features on the front-end just following the standard rules for a framework and think that this is enough to successfully launch the project, and then the project fails. How to prevent this and what approach to choose? I have launched dozens of complex projects and during the talk we will analyze which approaches have worked for me and which have not.
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
State of ICS and IoT Cyber Threat Landscape Report 2024 previewPrayukth K V
The IoT and OT threat landscape report has been prepared by the Threat Research Team at Sectrio using data from Sectrio, cyber threat intelligence farming facilities spread across over 85 cities around the world. In addition, Sectrio also runs AI-based advanced threat and payload engagement facilities that serve as sinks to attract and engage sophisticated threat actors, and newer malware including new variants and latent threats that are at an earlier stage of development.
The latest edition of the OT/ICS and IoT security Threat Landscape Report 2024 also covers:
State of global ICS asset and network exposure
Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
Rise in volumes of AI-powered cyberattacks
Major cyber events in 2024
Malware and malicious payload trends
Cyberattack types and targets
Vulnerability exploit attempts on CVEs
Attacks on counties – USA
Expansion of bot farms – how, where, and why
In-depth analysis of the cyber threat landscape across North America, South America, Europe, APAC, and the Middle East
Why are attacks on smart factories rising?
Cyber risk predictions
Axis of attacks – Europe
Systemic attacks in the Middle East
Download the full report from here:
https://sectrio.com/resources/ot-threat-landscape-reports/sectrio-releases-ot-ics-and-iot-security-threat-landscape-report-2024/
State of ICS and IoT Cyber Threat Landscape Report 2024 preview
The Canal Bar.Final Plan
1. Business Plan 2008
BUS 4490 - Business Senior Seminar
April 8, 2008
By:
Shanie Cardinal
David Johnson
Andrew Klocek
Michael Gutierrez
2. Table of Contents:
I. Executive Summary 2
II. Vision and Mission Statement 3
III. Business and Industry Profile 4
IV. Business Strategy 12
V. Company Products and Services 15
VI. Marketing Strategy 15
VII. Location and Layout 20
VIII. Competitor Analysis 22
IX. Description of Management Team 23
X. Plan of Operation 24
XI. Financial Forecasts 26
XII. Investment Proposal 27
XIII. Appendices 28-38
2
3. I. Executive Summary
The Canal Bar
220 E Las Colinas Blvd
Irving, TX 75039
The Canal Bar is a unique restaurant and bar that focuses on providing a distinct
atmosphere and entertainment that cannot be currently found in Las Colinas, TX. The Canal
Bar provides quality food and drink at a moderate price, with regular weekly live local
entertainment ranging from rock to jazz.
The Target Market is rather open and diverse, but looks to focus on the 21 to 45 year
olds business professionals in the Irving, Texas area, in particular the Las Colinas suburb.
The Strategic Company Advantages include the unique location of the business on one
of the canals of Lake Carolyn. As well as providing one of the very few walking-distance
night-spots, while being the only one to provide weekly live local entertainment.
The Managerial and Technical experience that will be needed include such factors as
TABC certifications, First Aid certifications along with typical food and health certifications.
Experience requirement of the operating team will vary with the respective position.
The Financial Requests will be made from private investors for $1.5 million dollars.
This initial financial investment from these investors will assist in property and renovation
processes.
The Financial Charts can be found in the appendix section of the business plan.
3
4. II. Vision and Mission Statement
Vision
Las Colinas is a suburb of Irving, a town just west of Dallas, Texas. The suburb is
known locally for its attractive apartment complexes and man-made lake, Lake Carolyn. Once
a thriving economic area for business and living, we look to bring Las Colinas back into the
publics' eye by helping to create a safe and well cultured community by providing a destination
spot to both locals and travelers alike. Being a single location bar and restaurant we look to
focus on developing the community directly around our location while establishing long term
regulars for years to come.
In addition, in the future we look to develop the local canal system to provide a water taxi
service that would not only allow Lake Carolyn residents unique access to our location, but to
tie together the local shops and community. Also, later on we look to incorporate the local
college communities as a source of workforce and economic stimuli. In particular, we look to
purchase other retail space on the same strip, and then rent these to the Business departments
so that they may have active, fully integrated entrepreneur-ships that would change over every
four years. By accomplishing all of this through our restaurant and community efforts we look
to create a retail community that will be seen as the “Venice of Las Colinas.”
Mission Statement
“The Canal Bar” provides a safe, clean, non-discriminatory and unique atmosphere,
where people of all ages can relax and enjoy distinctive high quality food, extensive drink
choices and local entertainment. In particular: to ensure that each guest receives prompt,
professional, friendly and courteous service; maintaining a clean, comfortable premises for our
guests and staff; and ensuring a personal level of pride in the tasks that our employees partake
in. Through a high level of social and personal responsibility, we look to continuously improve
4
5. not only our service, atmosphere and menu, but our Las Colinas community as well. – “There
is always room for improvement.”
III. Business and Industry Profile
A. Stage of Growth: Maturity:
At this stage of growth the restaurant industry is relatively consistent with sales and
customer bases that fluctuates little.
B. Company Goals and Objectives:
By the start of the sixth year we look to have paid off the initial $1.5 million dollars
from investors, with weekly sales $24 thousand dollars a week in sales. By that point in time we
look to have started the water taxi service as an extended reach of our company. Further out
than that, we look to become a primary location for the Las Colinas residents.
C. Industry Analysis
Industry Definition
In the restaurant industry there are three types of restaurants; fast-food, casual dining, and
formal dining. We would consider ourselves in the category of causal dining. Causal dining can
be defined as an establishment that offers a laid back causal atmosphere with the ability to serve
food at a moderate price. Over the past century, causal dining has formed and changed into a
place were people can sit down and enjoy a meal without worrying about dressing properly.
Prices for casual dining are in a range of $8 to $15 per person. In the current restaurant industry
typical sales per day are at $1.5 billion. Being and staying healthy is important to people and
choosing a place were they will offer a healthy items on the menu will provide a competitive
advantage over others. According to the National Restaurant Association, eighty three percent of
5
6. adults said that there are healthier options at quick service restaurants that there were two years
ago. 1
As far as employees, “women and minorities represent three of five owners of eating and
drinking place firms, compared to less than half of all U.S. firms.”2
The business world is
becoming more diverse especially in the restaurant industry because there are more minority
managers in this industry than any other industry.3
As for the causal dining industry, this holds
true as well. People are also looking for a healthier restaurant that is going to serve and
accommodate to their needs. What matters the most is an overall experience and making the
customer wanting to come back for more.
Government
Government regulations in this industry are very important and one must follow all rules
in order to operate whether its, food safety, licensing, laws and regulations, or taxes. “Food
safety is the most important and is considered the number one concern for the public and
government agencies. The National Restaurant Association on the restaurant.org website offers
information regarding issues like health inspections, keeping salad bars safe, reducing food
spoilage, proper hand washing, food-safety tips for consumers, handling product recalls, and
understanding common food borne-illness pathogens.”4
The restaurant industry has many
resources in order to help with regulations and requirements such as:
- IRS forms and publications for restaurants and bars
- IRS information for restaurants
- Employment tax forms
- State government sites with tax information for employers
- Nutrition claims on menus
- State alcoholic-beverage agencies
- State food-safety agencies
1
http://www.restaurant.org/research/ind_glance.cfm
2
IBID
3
IBID
4
IBID
6
7. Economy
Over the course of the past century, the ways American’s eat out has changed drastically
because of our world and how it has changed. When restaurants first opened, they were thought
of as being very formal and proper. Being properly dressed was very important when going out
to eat. The world was more of a slower time when people had time to sit down and chat for hours
at a restaurant table. Now, we move at a much faster pace and our lives are consistently busy.
This is when the “causal dining” idea came all about. Restaurants now have the ability to offer a
good meal without the interrupting our on the go lives. The distinct idea about causal dining is
that it allows for people to sit down and eat a quick meal and lets customers eat without worrying
about a formal or rushed atmosphere like fast food. The overall experience of eating out in the
early days of restaurants has taken a back seat to what it’s like in today’s world. When people go
out to eat at a “causal restaurant” they want an experience that they can remember along with
good serve and food. According to the Scores for Top 10 Consumer Causal Dining Attributes
charts, the top things that were most important to the customer were; the taste of food,
cleanliness, price, and environment. 5
The main market for this type of industry ranges from all
ages. From college students to people with families, they are looking for a place to eat that has
speed, efficiency, quality, service, and environment.6
Some interesting statistics that is in relation to the industry and economy is that:
• The overall economic impact of the restaurant industry is expected to exceed $1.5
trillion in 2008, including sales in related industries such as agriculture, transportation
and manufacturing.
• Every dollar spent by consumers in restaurants generates an additional $2.34 spent in
other industries allied with the restaurant industry.
• Each additional dollar spent in restaurants generates an additional $0.99 in household
earnings throughout the economy.
5
http://www.licensemag.com
6
http://www.rimag.com/archives/2007/09/fast-casual.asp
7
8. • Average unit sales in 2005 were $833,000 at full service restaurants and $694,000 at
limited-service restaurants. 7
Any example of a successful causal dinning restaurant that offers an experience as well as
quality to its customers is Buffalo Wild Wings. Buffalo Wild Wing is a restaurant that has a
full menu that includes salads, appetizers, burgers and most importantly buffalo wings. In the
restaurant they have a sports bar, trivia games, and big-screen televisions were they show
sporting events. “Buffalo Wild Wings is the top 10 Fastest-Growing Restaurant Chains in the
country.”8
There company main focus is to provide, “a relaxed, comfortable atmosphere where
people like to hang out with friends, play games on one of our many big-screen TVs. You can
always feel comfortable pulling some tables together with your friends and staying as long as
you like. We are a fun, edgy, high-energy and easygoing restaurant.”9
Places like Buffalo Wild
Wings sets causal dining apart from home, fast-food, and formal dining restaurants. People
choose casual dining over home cooking because it provides customers with no worries about
buying ingredients, preparing the meal, or clean up. As mentioned before people are on a more
of a fast paced schedule which allows them to have no time to cook meals. They prefer eating
out and in return drive their money into the economy as well as in the industry. Fast-food does
not supply adequate amounts of attention and service people need. The quality of food is not as
good and there is not an atmosphere provided that would meet needs like causal dinners would.
Lastly, in a formal restaurant, while it does provide an atmosphere and good quality of food, it
fails to compete with casual dining in many ways. As mentioned before, price is one of the
most important issues people are concerned about when eating out. Obviously formal dinning
will take you above and beyond the price of food in a causal restaurant. The ability of wearing
comfortable causal clothing is not an option in formal restaurants. Formal restaurants do have
7
Restaurants.org
8
Buffalowildwings.com
9
IBID
8
9. good quality services but fail to have quick timing on food serve. This is why we chose to
invest and operate our own restaurant in the “causal” setting because it can offer both types of
attributes and qualities that other restaurants have or cannot provide to customers. We would
like to provide to our customers a laid back causal atmosphere with the ability to serve food at
a moderate price while still providing the best attributes from all categories of eating
establishments (home, fast-food, and formal dining).
D. Market and Customer Definition:
Customer Analysis:
The customer analysis for the Irving, Texas begins with the population, which was about
196,084 as of 2006. It has an annual growth of about 2.3% yearly. The market, which we are
targeting, is between 21-45 years of age, which is 61,110 and is 31.17% of the total Irving and
Las Colinas population.10
This particular generation is very Tech Savvy and is considered to be a
group that desires instant gratification and superior service. It’s a very fast paced segment that
has a decent level of income; which is estimated at about $41,645 per year. This crowd tends to
go out at night and on the weekends, but the problem we discovered is that they usually have to
travel to areas rather distant from their homes such as; Greenville, Addison, Deep Ellum, and
Fort Worth. For us, in the development of the Canal Bar in Las Colinas, we want to cut down the
amount of traveling time and costs and be able to provide an experience similar to the ones they
currently desire, but do so within the Las Colinas geographic location.
They are a well-educated segment, which tends to use technology as the prime tool for
communication and research. There is an ever growing level of media usage on the Internet and
radio channels, which we will exploit, as our promotional and brand distribution channels. This
particular food and drink industry is the key focus for many of the members of this segment.
10
http://quickfacts.census.gov
9
10. Furthermore, this location has an extremely low level of entertainment being provided. This will
easily give us the ability and mobility to tap into this market, without much reaction or threats
from the competitors. Most of the restaurants in Las Colinas are food-centered establishments, so
we are going to focus on expanding and developing this area into a prime nightlife experience,
but with all the commodities still available during the daytime hours.
Marketing Analysis:
This segment is much more technologically advanced than the older generations. They
are also a very well educated group, which makes advertising to them and retaining them a very
time-consuming and rapidly evolving segment. This whole segment can be divided into two sub
segments: The first is the 21-30 year olds, which tends to use the Internet and Radio Stations, as
a key device in searching for entertainment; along with the promotional devices we will use
Google as a search engine for distribution, in order to reach this segment. This segment is fast-
paced and changes very quickly, which makes marketing to them a key concern. As they change
and demand different things we will meet those needs as they arise. The 31-45 year old segment
is a more traditional group of individuals that have a higher brand and company loyalty. They
also, use more of the old-fashioned media, than that of our younger generation: our channels will
be the Dallas Morning News and the Yellow Pages (online and book).
This is an area that we have to focus on when thinking long-term. By establishing our
goals and image to the younger generations we intend on keeping them as loyal customers for
years to come.
Marketing Management:
10
11. The typical marketing techniques for this industry are generally: word-of-mouth, radio,
television, billboards, Internet websites, newspapers, phonebooks, and magazines. The radio,
Internet, newspapers, and yellow pages are highly used when getting a message to the consumer.
Radio is the highest used media device for advertising in the Las Colinas area. The average
commercial spot on 106.1 Kiss FM, which runs at about $296.00 dollars for a .30 second spot. In
the newspaper industry we will use Dallas Morning News which runs at an opening rate of
$22.00 to start and depending on size and duration, a one week ad is $20.00 dollars and the more
you purchase the lower the costs becomes (you can buy fixed packages for any duration). In a
future outlook we will use T.V. ads as a promotional tool. It is such a high priced advertising
channel, that it will not be financially beneficial for the initial jump-start of our business.
Strategy
Historical:
Many strategies have been implemented by local competitors; from Cool River to The
Spirit Grille. The restaurant and bar combination has been used by companies that have come
and gone in the area, those that have gone have been those that have pushed too hard in either
direction or have tried to be to consistently contemporary. The most simplistic downfall that
we have seen is a lack of customer service. This simple issue of customer service has
surprisingly put many more starter companies in this industry to death. The lack of this simple
service can usually be attributed to the desire of a poorly trained wait staff that shoves
customers through the dining process as if they belonged to the fast food industry rather than
the casual dining and bar industry. One of the main factors that have contributed to the success
of other Las Colinas casual dining and bar restaurants is their focus on the atmosphere.
Contemporary:
11
12. The key strategic competitive advantages of the main competitors in this industry have
five things in common: location, quality, service, atmosphere and entertainment. The location
in the Las Colinas area where this company type has been successful has usually been located
in close proximity to a well-known street and just outside other shops and restaurant
communities. The quality of food has always been at least moderate, focusing around some
infusion of American and Latin dining. Service has always been a key competitive advantage
in most any industry, allowing for the greater possibility of repeats customers and in turn, a
stable customer base that acts in and of itself as positive “buzz” advertising. Impeccable
service in the food industry is critical to maintain and display a higher quality above the norm.
Atmospheres at the accomplished casual dining and bar locations have usually been themed
around a southwestern, modern niche, never over doing it, but usually subtle present. Most
importantly though, successful companies have all had some sort of weekly entertainment for
their customers. From karaoke to live bands, this musical aspect has given customers
something special to look forward to.
Future Issues:
There is the possibility of a recession in the United States economy, which in turn
would limit the amount of free cash to go out and the actual psychological desire to do so.
Investment and actual customer base may decrease. In addition, because of the cost of gas and
a popular trend to focus on organic factors of meals, sales in the restaurant industry my take a
slight hit. Overall though, these kinds of threats are a matter of the ebb and flow of social and
economic trends, they will pass and the industry will suffer no greater loss than others.
IV. Business Strategy
12
13. Image and Position
The Canal Bar’s Image is the same as its vision which is to become the bar to go to in the
Las Colinas Area. Our position is to serve the need for a contemporary but casual place for the
residents in and around the growing Las Colinas area to come and relax. With our mix of live
music and relaxed atmosphere, we will serve the growing Las Colinas area in need of a more
upscale but casual place to go. We will also utilize the restaurant part for the large daytime work
lunch crowd from the surrounding businesses.
SWOT Analysis
The Canal Bar’s strengths are numerous and the upside is huge. Our biggest strength
would be our location. With the Las Colinas Downtown area growing and the redevelopment of
the canal appeal in the future, our location has the advantage of being on the forefront of this
revitalization effort. We find a strong appeal of being on Las Colinas Blvd. while also having
canal access on both sides of our restaurant. This will allow for us to implement a water taxi
service to and from our business to neighboring apartments.
The second strength for The Canal Bar is its variety. Being a bar/lounge as well as a
restaurant, we will provide customers with a unique place with a lot of options. Our unique bar
will give our patrons a lot of choices. Whether dining during lunch or dinner to hanging out and
listening to live music at night; customers will be able to relax or party all in one spot. Along
with the live music capability, The Canal Bar will provide television access to all the major
sporting events for its customers. Also along with food, drinks, sports on TV, and live music;
The Canal Bar will feature a lounge area for VIP parties and will bring out the dance floor for
live bands.
Our third strength would be the atmosphere. It is hard to find the right mix when you talk
about a Restaurant/Bar. But with our mix of bar/lounge and featuring live local bands, The
13
14. Canal Bar will provide an atmosphere unique to the Las Colinas residents as well as those in the
DFW Area.
Our weaknesses are minimal but can be fixed. The major weakness with The Canal Bar
is the experience factor among its openers. This will be the first major Bar opening among the
four of them although some have restaurant/bar experience. To counter this weakness, the goal
is to get investors with vast knowledge and expertise in the industry who will also serve as
mentors as well as investors.
The second weakness would be a weak brand name. As a brand new concept to the Las
Colinas area, it is vital to counteract this weakness with a strong marketing effort as well as a
strong product to help with “word of mouth” advertising. Although the brand name is weak
now, a strong effort within our marketing department as well as the bar opening itself will help
build on that weakness.
Our opportunities are very high within the Las Colinas area when you look at the
demand. With the growing amount of younger demographic residents, the need for The Canal
Bar is there. Our greatest opportunity is to establish ourselves as the market leader in this area.
Along with that, we have opportunities to gain market share during the high peak times in the
area that include the EDS Byron Nelson Tournament Week, the Fourth of July Celebration held
in Las Colinas, and the numerous Conventions and Meetings held around Las Colinas. Also by
establishing ourselves first in the Las Colinas area, we will have become a leader when further
development happens. Las Colinas Live is scheduled to open in 2010 and the opportunity to be a
part of that experience while already being known by that time will only help us grow in
notoriety.
The immediate threats to The Canal Bar are obviously the bar/restaurants in the local
area. They include the Italian Café, Spirit Grill, Firewater, and The Republic. These
14
15. bar/restaurants serve the local area but none give the customer what The Canal Bar is offering.
Another threat you have to consider is possible government regulations regarding zoning and
possible allowance of more of our types of restaurant/bars now in Las Colinas. You have to
consider the development and expansion of the Las Colinas as a threat also. With further
development of the area with the introduction of Las Colinas Live, we will have more entrants
into the market. The last threat we see now is the problem with the economy as a whole. With
our economy as it is right now, aligning ourselves with quality investors will be a key for our
survival in the first few years.
Competitive Strategy
The Canal Bar will be successful in the immediate market due to a lack of competitors
and will use a differentiation focus. By providing a unique customer experience that combines a
restaurant, lounge, and bar; The Canal Bar will cater to the local resident who doesn’t want to
travel to Addison or Downtown to get that. Furthermore with the Las Colinas area booming in
terms of new upscale apartments bringing in the younger demographic crowd; The Canal Bar
will serve these local residents and there multitude of demands.
With our range of capabilities as well as a superb location, The Canal Bar will look to
capitalize on the 21-45 year old market. By offering a variety of activities for the customers to
partake in, our establishment will serve their entertainment need just miles from their own
residences.
V. Company Products and Services
15
16. The Canal Bar is a unique restaurant and bar that focuses on providing a distinct
atmosphere and entertainment that cannot be currently found in Las Colinas, TX. The Canal
Bar provides quality food and drink at a moderate price, with regular weekly live local
entertainment ranging from rock to jazz. Conceptually, The Canal Bar provides a walking
distance destination for a casual nightlife that revolves around the aesthetic beauty of the Lake
Carolyn Canal. Operating hours would be from 11am to 2am every day, with altered hours for
the holidays.
The main room has the main bar to the left as you enter; restaurant seating is in the
middle of the customer area with lounge seating off to the right. The bar and lounge area are
distinguished by glass/ wood walls that allow the sound around them but not so much the
visual encroachment. The outside bar is set up with warm, clear lighting and large dark word
tables. Under the entrance stairs is a game room area with a Golden Tee® golf game and
dartboards that customers may use at any time. At the back of the main room is the stage and
side storage area where many local bands from around the Dallas area will come and entertain
our guests. Free wireless Internet has also been placed in the restaurant for customer use at any
time.
VI. Marketing Strategy:
Target Market:
We want to target 21-45 year old males and females. More so, we want to target the
college generation and young businessmen and women in the Las Colinas vicinity.
Zip Codes Age 21-45 Total Population Percentage of Population Median Age
75039 2,215 2,816 78.66% 30.4
16
17. 75063 15,472 24,454 63.27% 30.9
75038 15,386 25,317 60.77% 28.9
75062 18,206 41,566 43.80% 32
Totals: 51,279 94,153 61% of Target Market Avg. Age 30.55
11
Races in Irving and Las Colinas:
• White Non-Hispanic (48.2%)
• Hispanic (31.2%)
• Black (10.2%)
• Other (10.4%)
In view of our target market we have a diverse selection of races and ethnicities in Las Colinas,
which we will take into account when doing our advertising and promotional incentives (Food
and Music) to attract new customers to the Canal Bar.
Customers’ motivation to buy:
For the restaurant and entertainment industry, the motivations mainly consist of an
experience that is affordable, with a standard of good quality service with a touch of freedom
from their everyday lives. In our concept of motivation, we will use an on-location event, hosted
by the local radio station during the first week of operations: 106.1 kiss fm. The general idea is
to use a well-established company to reinforce our company’s goals and vision, as well as to get
our name into the market and seize the targeted markets attention. Another aspect is to establish
a weekly specials promo, to give us a more diversified image and customer retention. It will
change by month and season.
• Canal water-taxi rides get you a drink (promotes to not drink and drive for the
local residents).
• Indoor and Outdoor venues depending on the season.
Rock, Acoustic, Jazz, DJ, etc.
• Daily happy hours at 3-5 and 7-9. (2 is better than 1).
Margaritas pitchers for $10.00, Domestics for $2.50.
11
http://factfinder.census.gov
17
18. • Sunday- focused on a sports related venue (e.g. Cowboys, Mav’s, Stars,
Rangers Games etc).
• Mondays- Mixed drink Mondays at $3.00 Well drinks and $6.00 for higher
quality mixed drink.
• Tuesday- Taco Tuesday with Mexican Beer $8.00 dollars for the meal and
2.50 for Mexican beers after the meal purchase and $4.00 mini-margaritas
(8oz, size).
• Wednesday- Wings and Things (menu items may vary).
• Thursday- “Until Your Through Thursdays” $25.00 dollars for all you can
drink between (6-10pm).
• Friday-Live music and contests for free drinks and food.
• Saturday-Karaoke (will change frequently).
It may also be possible to do seasonal/holiday promotions for example: St. Patrick’s day
(have an Irish promotion for Irish Car Bombs and Guinness discounts, and have an Irish band
along with several themed events throughout the day and into the night. We could also have
Cinco de Mayo days for the Hispanic segment (Mexican food and drink specials). New Years
events, Mardi Gras, Spring Break, 4th
of July, and possibly a German fest, when there are more
local businesses established to help promote the event.
Market size:
The Irving population increased from 191,615 in 2000 to 201,927 in 2006. A growth rate
of 0.9% from the year 2000.12
Advertising and Promotion:
The radio media we will use is 106.1kiss fm, which is currently located next to the
restaurant. They can be used for commercials and promotionally sponsored events, such as “Kid
Kraddock in The Morning” for possible morning promotions. In addition, DJ Billy the Kidd,
which will help draw younger demographic on the nights and weekends. This in turn will help to
create “buzz” advertising, which is the cheapest and best form of advertising. The primary time
12
http://cityofirving.org/common/demographics.html
18
19. frame for this media use would be during the Thursday and Friday mornings and afternoons for
upcoming events and specials going on that particular weekend.
The use of Internet ads will help to spur advertising costs as a very low cost media
channel, about $10.00 dollars an advertisements per month and around $200.00 per month on ten
sites. This would include restaurant based search engines for the surrounding areas, Facebook
along with My-Space (free), which have a large reach of the targeted market segment.
The next advertising channel would be in the Yellow-Pages phone book. Although this
method is set at a higher price than the other media channels, it would provide an online
advertisement, as well as an advertisement in the traditional Yellow-Pages book.
The next channel used will be the Dallas Morning News to help establish our name with
the local businessmen and women market. It is a low-cost and effective channel in which can be
placed weekly advertisements for discounts and upcoming events.
Desired image in the market:
The desired image is to be a hotspot in the Las Colinas and Irving area, with a new-age
look that will incorporates a variety of different styled venues and to be able to attract a wide
array of customers from around a 10 mile radius and in the future more distant customers. We
want to be recognized as a place to relax, have a drink, eat lunch, and too just be you. The image
we want to relay is that we are a hip and trendy establishment, that delivers a top-notch
experience to all that come. It will have the feel of a middle-high-class environment with a sense
of a business casual atmosphere. We want a diversified group of customers that will help us
eventually become well known throughout the Las Colinas area as well as within the Metroplex.
19
20. The marketing vision is to build up the surrounding areas and to make it a place to be a
desired destination: especially for the age groups that reside in the area. By the 5th year, we
would begin to expand the business outside of Las Colinas and Irving to another environment
that lacks in the entertainment industry.
Pricing versus competitors:
The local competitors pricing strategy is a high priced experience with a low level of
customer care. The general competitor is the Republic located down 114 about a quarter mile
away. It has a high customer flow, but so high priced that students can’t go there on a more
frequent basis. It also has a white-clothed feel that pushes away the mid 20’s segment. The way
we will implement our strategy is a mid-low ranged priced menu with more daily specials that
will allow the younger market to frequent more often and more so everyone in our targeted
segment. It will have a more friendly-based atmosphere, where we treat everyone with a high
standard of customer care and quality service.
General structure of the market plan and implementation:
In the marketing of this new venture, we want to first reformat the curb appeal of the
building itself.
• To create a rather attractive appeal using neon lights in the windows: not to go
so extravagant that it would keep the business lunch rush away, but an eye-
catching appeal that will trigger their senses and curiosity. There will be a
street sign that will allow passers by to see the building that will get their
attention.
• We want to develop a front appeal that the Omni Hotel occupants can see
when staying at the hotel as well as clientele in the surrounding areas.
The Canal Bar is located on a corner next to the canal in Las Colinas. There are 3 different sides
of the building that we will revamp for the surrounding residents. It will allow them to see the
signs from the apartment buildings and offices. As of right now, there is no real usage of the
canal as a promotional and transportation channel. This is something that we will develop
20
21. especially for our outside environment; this is one of our key geographic issues in the
developmental process of the entire area.
The outside atmosphere:
• We will develop an outside eating area during the day, which we will transform it into
a trendier bar scene at night.
There will be a connected bar that is located in the center of the patio between
the two outside doorways. That is only accessed from the outside patio.
Depending on the season we would have an outdoor venue twice a month,
with local talent to perform.
It would also have the river walk (San Antonio) atmosphere with water taxi’s
that will provide transportation for the local apartment residents and
businesses, as well as potential stores up and down the canal.
The indoor atmosphere:
2 bars will be located at the opposite ends of the building, which will be
divided into a dining section with a bar and the sports bar and indoor venues
in the back which can be accessed from the outside. Directed towards the
younger segment and the people who want a quick drink
It will have a more contemporary touch to it than a typical bar and grill. A
little more class, but not too much to keep the younger crowd from coming.
VII. Location and Layout
As stated before, the location of The Canal Bar will be a key factor to its success. Its location
will be in the heart of the downtown district of Las Colinas east of Hwy. 114 right on the
Mandalay Canal and Las Colinas Blvd. The physical address of the location will be:
220 Las Colinas Blvd E # 260 Irving, TX 75039
This location was chosen due to its proximity to many large corporations as well as a
large number of residential and hotel developments. It is close to a major road in the DFW area
but far enough to provide an intimate and somewhat serene setting. Sitting alongside the
Mandalay Canal is also a key to this location due to the fact that The Canal Bar will be able to
have an extensive outside area capable of holding events. Also if you look at our demographic
chart of the surrounding area the median age is around 30.55 with over 79% being people over
21. This data shows that our location is in a perfect area to be able to serve our demographics.
21
22. Data from US Census for 2000, www.factfinder.us.gov
Layout
As you walk into The Canal Bar from our street entrance you are greeted by a panoramic
view of the whole establishment. Our customer walks in and down the stairs into our main room
and is greeted by a hostess. They can choose to enjoy a meal or drinks at either our bar or a meal
in our dining section. Also, the customer has their choice of sitting on our expansive patio,
which main part runs along the outside of our building. The lounge area will be in the back and
will feature large sofas and darker quieter features for customers to relax. The stage for live
music will be located at the back of the lounge and main area, creating a great stage for our local
musicians. The outside patio will have access to both the lounge and the main dining area with a
Demographic Analysis of Location vs. Target Customer Profile
Zip Codes
Age 21 and
up
Total
Population
Percentage of
Population Median Age
75039 2597 2816 92.22% 30.4
75063 19558 24454 79.98% 30.9
75038 19064 25317 75.30% 28.9
75062 29431 41566 70.81% 32
Average
Median Age 30.55
Average
Percentage
of Population
over 21 79.58%
22
23. beer bar on Friday and Saturday nights. This layout can be viewed in it’s entirety in the
appendix.
VIII. Competitor Analysis
Our existing competitors include local restaurant/bars in the area. The main competitors
would be The Italian Café, The Spirit Grill, Firewater, and The Republic. Below is a competitive
profile matrix of the Canal Bar compared to these four competitors. We based it upon Location,
Customer Offerings, Price, and Business Capabilities.
As the table shows, The Canal Bar is ahead of the other four based on these factors. Our
biggest foreseeable competitor is The Republic. They want to serve the wealthier end of our
demographic but in terms of location along with atmosphere, they are comparable. Their biggest
weakness could be the price of going to it as well as not being able to offer a patio bar or live
music.
Competitive Profile Matrix for The Canal Bar
(Scale of 1-5 with 5 being Very Good to 1 being Very Poor)
Factor
The Canal
Bar
The
Republic
Italian
Café
Spirit
Grill Firewater
Location 5 4 5 3 2
Customer Offerings 5 3 2 2 3
Price 3 2 3 4 2
Capabilities 5 3 1 2 4
Totals 18 12 11 11 11
23
24. Firewater has the capabilities to have live music as well as a large patio bar, but their
weakness comes with location. Since ours is in the heart of the Las Colinas downtown district,
we will gain the customers not willing to drive ten minutes away down Northwest Highway.
The other two, Spirit Grill and Italian Café, are more restaurants then bars, and rely heavily on
their food service to gain consumers. Where we will overcome them is with our food service as
well as entertainment options to accentuate the customer’s experience.
Potential Competitors
Our potential competitors include any establishment opening up with a restaurant/bar
style. The biggest potential competitor we foresee coming into our market is Las Colinas Live,
scheduled for 2010. This development will be down the street and offer many bars and
restaurants we will have to compete with. By opening almost a year before development begins,
we will counter this by being a first entrant into the immediate market. By already establishing
ourselves within the community, The Canal Bar will bring a reputation that will just be fueled by
more customers coming to the area.
IX. Description of management team:
General Manager: Requirements: at least 24 years of age, 3 years experience in food
industry, TABC certified, Food Safety and Training certification. General Managers, of which
there will be two (one per shift), will help to ensure individual customer satisfaction. They will
also be expected to create scheduling on a bi-weekly basis, order all food and house supplies
and ensure the general atmosphere of the restaurant. They would be responsible for all
24
25. computer glitches and need to know how to fix or work around them. Responsible for opening
and closing of the store, as well as making bank deposits.
Bartenders/Manager: Requirements: at least 21 years of age, 1 year of experience (or
previous training) and TABC certified, First Aid certified, of which there will be four (two per
shift). Bartenders will double as managers in cases where the General Manager is unavailable,
but only as points of reference for minor matters of restaurant upkeep, quality and service.
They would also be responsible for all liquor and beer orders that would need to be made
throughout the week. Responsible for taking bar orders and filling them, fulfilling alcoholic
drink orders from waiters for customer, taking care of all necessary cash and credit transactions
for the bar customers.
Cook: Requirements: at least 24 years of age, 4 years experience in food industry,
TABC certified, Food Safety and Training certification, of which there will be four (two per
shift). Culinary school degree is an asset to hiring though not necessary. Full knowledge and
preparation capabilities of the restaurant’s menu are necessary.
Waiters: Requirements: at least 18 years of age, no prior experience necessary (although
preferred), TABC certified. Serving food to customers, handling credit card and cash
transactions of their customers, running food to tables and while taking orders and serving
drinks.
Busboys, Runners: Requirements: at least 18 years of age, no prior experience
necessary. Running out food to appropriate tables and clearing/ resetting them when they are
done.
Dish Washer: Requirements: at least 18 years of age, no prior experience necessary.
Washes dishes regularly, takes out the trash, and brings clean dishes to appropriate locations
for use.
25
26. X. Plan of Operation
Form of ownership: “The Canal Bar” will be a limited liability partnership among four
individuals from all over the country and experience to match it. Seeking an opening date of
Summer 2009, The Basement is comprised of Shanie Cardinal, David Johnson, Andrew
Klocek, and Michael Gutierrez. Equal profit and cost sharing will be set up for the first five
years, after that the company will look to either continue on that path or option for a
restructuring of ownership. Our initial ownership set up will allow each owner to invest as
much as they can in the company while still being protected by the legal boundaries if things
fold under. Additional funds will be pooled from loans. Additional investors will be
compensated on basis of percentage return on proportional investments. The company will
never be traded publicly, preventing to some degree, a hostile takeover from that angle.
Company Structure: The business structure is based on a general restaurant/bar format. Ideas for
improvement are welcome from any level in the organization and will be considered. All levels
of the organization are encouraged to participate in all decision-making processes. Structure
diagram is in under appendix D.
Decision Making Authority:
All financial decisions regarding the attainment of assets over five dollars will be
handled by the Partnership. The General Managers can handle all financial decisions from two
to five thousand dollars. All financial amounts below that must cleared first by the bartender on
duty then the General Manager. The General Manager on duty must handle customer service
decisions regarding financial transactions post date. Customer service decisions regarding
financial transactions on that date may be handled by the Bartender; ect. complimentary
26
27. dinners for one reason or other. All of these financial transactions must be made note of after
they occur. Customer service decisions regarding all else may be made only on the best and
proper judgment of the employee for the greater good of the company.
Compensation and Benefits:
Texas Labor Law stipulates that the minimum wage as of 2007 is $5.85 per hour and
tipped workers are to be paid at least $2.13. Waiters and Waitresses at “The Canal Bar” will
start at $3.00 an hour plus tips. Busboy/Runners will be paid $6.50 an hour plus tips.
Dishwashers will be paid $11.00 an hour. Chiefs will be paid $15.00 an hour, more depending
upon experience, up to $20.00. Bartenders will be paid $7.00 an hour plus tips. General
Managers will be placed upon a salary starting at $40,000. Partners will be provided a
percentage of annual profits not to exceed 20% of the total per partner.
Benefits will not be given to any employee being paid by the hour, though 10 days of
vacation will be granted. Those on salary will be covered by health insurance, along with a 14-
day vacation. Those on a percentage based pay, those of the partnership, will have full
coverage and 14-day paid vacation. Bonuses can be earned for revenue or cost saving
implementation, 15 percent of the cost saved or revenue earned in direct relation to the
implementation.
XI. Financial Forecasts
The Canal Bar stands to make heavy profits in the coming years. We believe that with
the right mix that we have going, we stand to gain a valuable share of the target demographics.
In terms of sales projections, which are shown in Appendix C, the Canal Bar is looking at an
annual customer growth of 10%. Also by basing the average cost per person to $20 a customer,
we were able to project our sales through April 1214. First year sales should be around $864,000
and they will continue to grow over the years. Our cash flow over the first year is positive each
27
28. month gaining about $10,295. Also if you look at our Income Statement over the next 5 years
with the same estimated expenses, The Canal Bar will almost hit the half million-dollar range in
net profits. To see all these broke down please flip to appendices C-F at the end.
The Breakeven Analysis for the Canal Bar represents the annual costs associated with
running the Canal Bar, against the total sales. It shows how much money we need to
generate in order to create a lucrative business. Furthermore, the time, which it will take, is
calculated at 10.39 months. For a full break down look into Appendix G.
XII. Investment Proposal
The Canal Bar’s creators have estimated the total cost of purchasing the location as well
as renovating it to our liking to be right at $1,411,996. A full breakdown of the renovation is
included in the appendix for our investors. The rest of the difference will be used for
miscellaneous costs associated with opening if we have any.
Currently we are estimating that the total amount of money to be invested is 1.5 million
dollars. The Canal Bar is looking for three investors to donate approximately 500,000 a piece.
By our projections, they should look to be paid back in full by the start of the sixth year of
operations. The plan is to take net income annually and split it evenly among all three. After
they have been paid back in full, each investor will get 10% of all net profits annually while
gaining 15% ownership overall. So in total the three investors will be entitled to 30% of net
profit annually as well as 45% ownership of the Canal Bar.
The only way to exit out of investment after signature is to sell your contract to another
investor who will bear the burden you have relinquished. But a consensus decision must be
made between the four partners and the three investors in terms of buyouts after the five year
payback plan is done.
28
30. Information on this Billboard or Outdoor Advertising Location
Brief Description of
Outdoor Ad For Rent
Billboards for Lease $375
Type of Outdoor
Advertising: Outdoor Billboards
Billboard Location: Anywhere
Circulation: 500,000 +
Visible in What Direction: Any
What_View:
Both Left and Right Hand View
Board Location:
Any
Illuminated: Yes/No
Rental Rate:
$375 (Regularly $995)
Outdoor Advertising Company Contact Information:
Additional Contact:
Victoria Wolf
CA Mobile Media
Additional E-mail
Address:
vwolf@camobilemedia.com
Mailing Address: 1700 McHenry Ave., Suite 65B-150
Modesto, CA 95350
Phone Number:
888-635-2599
Advertising
Media Costs
and Usage Quantity Price Company
Newspaper
1 year fixed
2x7inch ad $6,000.00
Dallas Morning
News
Phone Book
1 year half-
page color ad $10,000.00 Yellow Pages
Billboards
2 signs for 2
months $1,500.00
Outdoor
Advertising
Internet Ads
2 months on
10 sites $400.00 Google
Radio
Commercials
1 month 3
days a week
$10,656.00 106.1 kiss FM
Custom
Brochures/Flyers
20,000 $599.49 www.vistaprint.com
Total
Cost
$29,155.49
30
34. Appendix E
Sales Projections
Sales Projections For The Canal Bar
Year 1 Year 2 Year 3 Year 4 Year 5
May 2009-April 2010 May 2010-April 2111 May 2111-April 2112 May 1212-April 1213 May 1213-April 1214
Number of Customers a Day
(Sunday-Thursday) 100 110 121 133 147
Number of Customers a Day
Friday-Saturday 200 220 242 266 293
Per Week Average 900 990 1089 1198 1319
Per Month Average 3600 3960 4356 4792 5276
Per Year Average 43200 47520 52272 57504 63312
Average Price of Check $20.00 $20.00 $20.00 $20.00 $20.00
Projected Sales $864,000.00 $950,400.00 $1,045,440.00 $1,150,080.00 $1,266,240.00
10% annual increase in customers
This Is based on an average check per customer of $20
The Canal Bar Sales Projections for its first year will be $864,000
31
35. Appendix F
Cash Flow Statement for first year
The Canal Bar First Year Cash Flow Statement
May June July August September October November
Beginning Cash Balance $63,754 $74,048 $84,343 $94,638 $104,932 $115,227
Cash Inflows (Income):
Initial Investment 1,500,000
Sales & Receipts 72,000 72,000 72,000 72,000 72,000 72,000 72,000
Other:
Total Cash Inflows $1,572,000 $135,754 $146,048 $156,343 $166,638 $176,932 $187,227
Available Cash Balance $1,572,000 $135,754 $146,048 $156,343 $166,638 $176,932 $187,227
Cash Outflows (Expenses):
Initial Purchase and Renovation 1,411,996
Advertising 29,159
Insurance 800 800 800 800 800 800 800
Inventory Purchases 20,000 20,000 20,000 20,000 20,000 20,000 20,000
Payroll 31,447 31,447 31,447 31,447 31,447 31,447 31,447
Payroll Taxes 3,145 3,145 3,145 3,145 3,145 3,145 3,145
Sales Tax Expense 5,760 5,760 5,760 5,760 5,760 5,760 5,760
Taxes & Licenses 5,386
Utilities 400 400 400 400 400 400 400
Telephone/Internet/TV 154 154 154 154 154 154 154
Subtotal $1,508,246 $61,705 $61,705 $61,705 $61,705 $61,705 $61,705
Total Cash Outflows $1,508,246 $61,705 $61,705 $61,705 $61,705 $61,705 $61,705
Ending Cash Balance $63,754 $74,048 $84,343 $94,638 $104,932 $115,227 $125,522
32
39. Years 1-5
Year 1 Year 2 Year 3 Year 4 Year 5
Revenue:
Gross Sales $864,000.00 $950,400.00 $1,045,440.00 $1,150,080.00 $1,266,240.00
Less: Sales Returns and Allowances
Net Sales $864,000.00 $950,400.00 $1,045,440.00 $1,150,080.00 1266240
Cost of Goods Sold:
Beginning Inventory
Add: Purchases Food and Alcohol $240,000.00 $240,000.00 $240,000.00 $240,000.00 $240,000.00
Freight-in
Direct Labor
Indirect Expenses
$240,000.00 $240,000.00 $240,000.00 $240,000.00 $240,000.00
Less: Ending Inventory
Cost of Goods Sold $240,000.00 $240,000.00 $240,000.00 $240,000.00 $240,000.00
Gross Profit (Loss) $624,000.00 $710,400.00 $805,440.00 $910,080.00 $1,026,240.00
Expenses:
Advertising $29,155.49 $29,155.49 $29,155.49 $29,155.49 $29,155.49
Insurance $9,600.00 $9,600.00 $9,600.00 $9,600.00 $9,600.00
Payroll Taxes $37,736.00 $37,736.00 $37,736.00 $37,736.00 $37,736.00
Permits and Licenses $5,386.00 $5,386.00 $5,386.00 $5,386.00 $5,386.00
Sales Taxes $36,000.00 $36,000.00 $36,000.00 $36,000.00 $36,000.00
Property Taxes $34,970.00 $34,970.00 $34,970.00 $34,970.00 $34,970.00
Telephone/Internet/TV $1,848.00 $1,848.00 $1,848.00 $1,848.00 $1,848.00
Utilities $4,800.00 $4,800.00 $4,800.00 $4,800.00 $4,800.00
Wages $377,360.00 $377,360.00 $377,360.00 $377,360.00 $377,360.00
Total Expenses $536,855.49 $536,855.49 $536,855.49 $536,855.49 $536,855.49
Net Operating Income $87,144.51 $173,544.51 $268,584.51 $373,224.51 $489,384.51
36
40. Appendix H
Employee Cost Breakdown
Appendix I
Breakeven Analysis
Break Even Analysis for The Canal Bar
Cost Description Fixed Costs($) Variable Costs(%)
Variable Costs
Cost of Goods Sold $240,000.00 100.00%
Fixed Costs
Salaries $377,360.00
Payroll Taxes $37,736.00
Advertising $29,155.00
Permits and Legal $5,386.00
TV, Internet, Phone $1,848.00
Utilities $4,800.00
Insurance $9,600.00
Taxes $34,970.00
Total Fixed Costs $740,855.00
Total Variable Costs 100%
Break Even Sales Level = $748,339.00
Duration until break even 10.39 months
Employee Wages
Job Type Wages
Work
Each
Day
Total
Hours a
Day
Total
Hours a
Week
Total
Hours a
Month
Total
Hours a
Year Total Wages
General Manager $40,000 a year $80,000.00
Bartender $7.00 3 22.5 157.5 630 7560 $52,920.00
Chef $15.00 3 22.5 157.5 630 7560 $113,400.00
Server $3.00 8 60 420 1680 20160 $60,480.00
Busboy $6.00 2 15 105 420 5040 $30,240.00
Dishwasher $8.00 2 15 105 420 5040 $40,320.00
Totals $377,360.00
37
41. Appendix J
Investment Breakdown
Investor
Payout Year 1 Year 2 Year 3 Year 4 Year 5
Estimated
Total Paid
back by Year
Three
Initial
Investments $87,144.51 $173,544.51 $268,584.51 $373,224.51 $489,384.51
Investor A $500,000.00 $29,048.17 $57,848.17 $89,528.17 $124,408.17 $163,128.17 $463,960.85
Investor B $500,000.00 $29,048.17 $57,848.17 $89,528.17 $124,408.17 $163,128.17 $463,960.85
Investor C $500,000.00 $29,048.17 $57,848.17 $89,528.17 $124,408.17 $163,128.17 $463,960.85
39