Are you about starting a healthy food eatery for vegetarians? If YES, here is a complete sample organic restaurant business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a vegetarian restaurant. We also took it further by analyzing and drafting a sample healthy food restaurant marketing plan template backed up by actionable guerrilla marketing ideas for organic restaurants. So let’s proceed to the business planning section.
You will quite agree that people have different food preferences hence the need for customized restaurant designed to services their need. One of such food preference is the vegetarian; these are people who would not have anything to with meat, and fish. These are people who eat only food such as grains, fruits and vegetables et al.
If you are that starting a vegetarian restaurant business is the right business for you to do, then you should know that there is quite a lot that is needed to be done in order to see that your vegetarian restaurant business does take flight within the period that you have projected it to be.
The question therefore is; what is the top priority on the list that must be cancelled? Well, it is the business plan. So, you already know by now that businesses need business plans to project and tag along.
That is not all. You will need to make sure that you have the real reasons why you want to be in the line of business you have chosen. That means there has to be a real connection between you and the people (vegetarians) whose food problem you want to solve.
And this could be categorized as the vision and mission of being in business as you will see in the sample business plan as you forge ahead. Other areas that might require some math and reckoning could be worked out along the road as you get acquainted with the sample business plan.
You too can now write your own business plan by fixing in the appropriate details of your business after you have gone through the sample vegetarian restaurant business plan template below;
A Sample Vegetarian Restaurant Business Plan Template
1. Industry Overview
Vegetarian restaurant falls under the Restaurant industry and the industry comprises chain and franchised restaurants that provide food services to patrons who order and are served while seated (i.e. waiter or waitress service), and pay after eating.
These establishments may provide this type of food service to patrons in combination with selling alcoholic and other beverages.
A close observation of the Chain Restaurants industry shows that the industry experienced steady growth over the last half a decade. During the stated period, as per capita income increased and unemployment declined, consumer confidence improved, giving rise to greater spending on sit-down meals.
Even though the average industry profit margin remains slim, profit margins at most chains have increased over the last five years, as revenue has grown and costs have been kept under control. The Chain Restaurants industry runs of steady growth is projected to moderate in the coming years.
It is also projected that consumers will increase their spending at restaurants as the economy continues to improve and unemployment rate drops.
The Chain Restaurants industry cum vegetarian restaurant line of business is indeed a large industry and pretty much active in most countries of the world most especially in the United States of America, India, Japan, China, Nigeria, South Africa, South Korea, United Kingdom, Singapore and Canada et al.
Statistics has it that in the united states of America alone, there are about 789 registered and licensed chains of restaurants scattered all across the United States responsible for employing about 1,861,015people and the industry rakes in a whopping sum of $108 billion annually.
The industry is projected to enjoy 4.3 percent annual growth within 2011 and 2016. Darden Restaurants Inc. and Dine Equity are the leaders in the Chain Restaurants industry; they have the lion market share in the industry.
A recent report published by IBIS World shows that the Chain Restaurants industry has a low level of market share concentration. The report stated that in 2016, the four largest industry players are estimated to account for about 21.2 percent of the available market share.
The industry is made up of a vast array of chain and franchised restaurant operators and food concepts, as well as the extensive number of sites they operate.
A number of chains and franchised operators have establishments that are spread nationally and even internationally. The report further stated that in the past five years, the industry’s concentration level has fallen slightly because a number of conglomerates have offloaded underperforming chains to private equity firms.
Most recently in 2014 Darden Restaurants offloaded its 600-plus Red Lobster restaurants to Golden Gate Capital for $2.1 billion.
In summary, it is safe to state that the vegetarian restaurant business is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale in a street corner like the average mom and pop business or you can choose to start on a large scale with several outlets in key cities all across the United States of America.
2. Executive Summary
Andreas Packman® Veggie Restaurant, LLC is a standard and registered vegetarian restaurant business that will be located along one of the busiest roads in Carson City – Nevada.
We have been able to lease a facility along a major road that is big enough to fit into the design of the kind of vegetarian restaurant that we intend launching and the facility is located in a corner piece directly opposite the largest residential estate in Carson City – Nevada.
Andreas Packman® Veggie Restaurant, LLC will be involved in the sale of purely vegetarian meals. We know that that there are several large and small vegetarian restaurants all around Carson City – Nevada which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering.
We have self – service options for our customers, and our outlet is well secured with the various payment options. Andreas Packman® Veggie Restaurant, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become one of the leading brands in the vegetarian line of business in the whole of Carson City – Nevada, and also to be amongst the top 20 vegetarian chains of restaurants in the United States of America within the first 10 years of operations.
This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that Carson City – Nevada is the right place to launch our vegetarian restaurant before opening our chains of restaurants all across major cities in the United States of America.
Andreas Packman® Veggie Restaurant, LLC is a family business that is owned by Andreas Packman and his immediate family members.
Andreas Packman is a chef per excellence, he has a B.Sc. in Food Science and a Diploma in Business Administration, with well over 10 years of experience in the restaurant and fast food industry, working for some of the leading brand in the United States.
Although the business is launching out with just one outlet in Carson City – Nevada, but there is a plan to open other outlets all around Nevada and in other key cities in the United States of America.
3. Our Products and Services
Andreas Packman® Veggie Restaurant, LLC is in the chain restaurants industry cum vegetarian restaurant line of business to make profits and we will ensure we go all the way to make available a wide variety of hot dogs and sausages to our clients.
We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition. Our product and service offerings are listed below;
- American food
- Italian-American food
- Breakfast foods
- Specialty burgers
- Asian cuisine
- Other food
- Soft Drinks
4. Our Mission and Vision Statement
- Our vision is to become the leading vegetarian restaurant – brand in Carson City – Nevada and to establish a one stop vegetarian restaurant in Carson City – Nevada and in other cities in the United States of America.
- Our mission is to establish a vegetarian restaurant business that will make available a wide variety of vegetarian inspired meals at affordable prices to the residence of Carson City – Nevada and other cities in the United States of America where we intend opening of chains of vegetarian restaurants.
Our Business Structure
Andreas Packman® Veggie Restaurant, LLC do not intend to start a vegetarian restaurant business like the usual mom and pop business around the street corner; our intention of starting a vegetarian restaurant business is to build a standard and one stop vegetarian restaurant in Carson City – Nevada.
Although our vegetarian restaurant might not be as big as Darden Restaurants Inc. and Dine Equity, but will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.
We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Restaurant Manager
- Human Resources and Admin Manager
- Sales and Marketing Manager
- Information Technologist
- Accountants / Cashiers
- Waiters / Waitress
- Van Drivers / Deliverers
5. Job Roles and Responsibilities
Chief Executive Officer – CEO (Chief Florist):
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities.
- Responsible for managing the daily activities in the restaurant (kitchen inclusive)
- Ensure that the restaurant facility is in tip top shape and conducive enough to welcome customers
- Interfaces with third – party providers (vendors)
- Reports to the Chief Executive Officer
- Attends to Customers complaints and enquiries
- Prepares budget and reports for the organization
- Any other duty as assigned by the CEO
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
- Manages the organization website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
- Manage the organization’s CCTV
- Handles any other technological and IT related duties.
Accountant / Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Waiters / Waitress:
- Promptly attends to customers in a friendly and professional manner
- Ensures that un-occupied tables are always set and ready for customers
- Pulls out chairs for customers as they arrive
- Handles any other duty as assigned by the Chief Operating officer / Restaurant manager
- Delivers customer’s orders promptly
- Deliver correspondence for the restaurant
- Runs errand for the organization
- Any other duty as assigned by the floor / line manager
- Responsible for cleaning the restaurant facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the restaurant facility
- Handles any other duty as assigned by the restaurant manager.
6. SWOT Analysis
Our plan of starting with just one outlet of our vegetarian restaurant in Carson City – Nevada is to test run the business for a period of 3 to 5 years to know if we will invest more money, expand the business and then open other outlets all over Nevada and key cities in the United States.
We are quite aware that there are several vegetarian restaurants all over Carson City – Nevada and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.
We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be well equipped to confront our threats.
Andreas Packman® Veggie Restaurant, LLC employed the services of an expert HR and Business Analyst with bias in restaurants and fast food line of business to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Andreas Packman® Veggie Restaurant, LLC;
Our location, the business model we will be operating, varieties of payment options, wide varieties of vegetarian inspired meals and our excellent customer service culture will definitely count as a strong strength for Andreas Packman® Veggie Restaurant, LLC. So also, we have a management team that has what it takes to grow a new business to profitability within a record time.
A major weakness that may count against us is the fact that we are a new vegetarian restaurant – business and we don’t have the financial capacity to compete with multi – million dollars chains of sandwich shops like Darden Restaurants Inc. and Dine Equity et al.
The fact that we are going to be operating our vegetarian restaurant in one of the busiest streets in Carson City – Nevada, provides us with unlimited opportunities to sell our vegetarian inspired meals, coffees and soft drinks to a large number of people.
We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our restaurant; we are well positioned to take on the opportunities that will come our way.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new vegetarian restaurant or a regular restaurant in same location where ours is located.
7. MARKET ANALYSIS
- Market Trends
In this era when the online community is growing rapidly, you would do your hot vegetarian restaurant business a whole lot of favor if you create your own online presence. One of the easiest ways to get people to see you as an expert in your line of business is to blog constantly about vegetarian meals.
You may also want to leverage on social media platforms like Instagram, Facebook, and Twitter, and others to publicize your veggie restaurant. You can as well go ahead to open an online veggie restaurant where people can place order from your restaurant.
You must ensure that your delivery system (shipping) is efficient if you intend to do well with your online sandwich shop.
A close observation of the trends in the Chain Restaurants industry shows that the industry experienced steady growth over the last half a decade. During the stated period, as per capita income increased and unemployment declined, consumer confidence improved, giving rise to greater spending on sit-down meals.
Even though the average industry profit margin remains slim, profit margins at most chains have increased over the last five years, as revenue has grown and costs have been kept under control. The Chain Restaurants industry run of steady growth is projected to moderate in the coming years.
It is also projected that consumers will increase their spending at restaurants as the economy continues to improve and unemployment rate drops. So also, keeping consumers’ appetites satisfied, vegetarian restaurants have created new menu options that capitalize on the trend of increasing awareness of the health risks associated with a high-fat diet.
The industry has also thrived by developing products at price points attractive enough to weather the slow recovery, resulting in strong revenue growth. As a result of this, these trends are expected to continue and contribute to revenue growth going forward.
8. Our Target Market
One thing about vegetarian inspired meals is that it is not only meant for those who are strictly vegetarian but also for healthy eating conscious people and others depending on their eating preferences.
In view of that, we have positioned our vegetarian restaurants to service the residence of Carson City – Nevada and every other location where our chain of vegetarian restaurants will be located in key cities all over the United States of America.
We have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to retail wide varieties of vegetarian meals to the following groups of people;
- Event Planners
- Corporate Organizations
- Corporate Executives
- Business People
- Sports Men and Women
Our competitive advantage
A close study of the hot dog and chain restaurants industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.
We are aware of the stiffer competition and we are well prepared to compete favorably with other vegetarian restaurants and conventional restaurants in Carson City – Nevada. Andreas Packman® Veggie Restaurant, LLC is launching a standard vegetarian restaurant that will indeed become the preferred choice of residence of Carson City – Nevada.
Our vegetarian restaurant is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Carson City – Nevada. We have enough parking spaces that can accommodate well over 20 cars per time.
One thing is certain; we will ensure that we have wide varieties of vegetarian inspired meals available in our restaurant at all times. It will be difficult for customers to visit our restaurant and not make a purchase from us.
One of our business goals is to make Andreas Packman® Veggie Restaurant, LLC a one stop vegetarian restaurant. Our excellent customer service culture, online service, various payment options and highly secured facility will serve as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups vegetarian restaurant) in the chain restaurants industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Andreas Packman® Veggie Restaurant, LLC is in business to retail a wide variety of veggie inspired meals to the residence of Carson City – Nevada. We are in the chain restaurants industry to
- American food
- Italian-American food
- Breakfast foods
- Specialty burgers
- Asian cuisine
- Other food
- Soft Drinks
10. Sales Forecast
One thing is certain when it comes to vegetarian restaurants, if your restaurant is centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We are well positioned to take on the available market in Carson City – Nevada and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.
We have been able to critically examine the chain restaurants industry cum vegetarian restaurant line of business and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Carson City – Nevada.
Below are the sales projections for Andreas Packman® Veggie Restaurant, LLC, it is based on the location of our business and other factors as it relates to vegetarian restaurant start – ups in the United States;
First Fiscal Year-: $120,000
Second Fiscal Year-: $350,000
Third Fiscal Year-: $750,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing and Sales Strategy
Before choosing a location for Andreas Packman® Veggie Restaurant, LLC, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Carson City – Nevada.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. We hired experts who have good understanding of the chain restaurants industry / vegetarian restaurants line of business to help us develop
In other to continue to be in business and grow, we must continue to sell our veggie inspired meals which is why we will go all out to empower or sales and marketing team to deliver. In summary, Andreas Packman® Veggie Restaurant, LLC will adopt the following sales and marketing approach to win customers over;
- Open our vegetarian restaurant in a grand style with a party for all.
- Introduce our vegetarian restaurant business by sending introductory letters alongside our brochure to corporate organizations, vegetarian communities, schools, event planners, households and key stake holders in Carson City – Nevada
- Ensure that have wide varieties of veggie inspired meals in our restaurant at all times.
- Make use of attractive hand bills to create awareness and also to give direction to our restaurant
- Position our signage / flexi banners at strategic places around Carson City – Nevada
- Position our greeters to welcome and direct potential customers
- Create a loyalty plan that will enable us reward our regular customers
- Engage on road shows within our neighborhood to create awareness for our vegetarian restaurant.
- Creating a basic website for our business, so as to give our business an online presence
- Directly market our vegetarian restaurant
- Join local vegetarian restaurant associations and chambers of commerce for industry trends and tips
- Provide discount days for our customers
- List our business on yellow pages ads (local directories)
- Encourage the use of Word of mouth marketing (referrals)
11. Publicity and Advertising Strategy
Despite the fact that our vegetarian restaurant is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote Andreas Packman® Veggie Restaurant, LLC.
Andreas Packman® Veggie Restaurant, LLC has a long – term plan of opening chains of vegetarian restaurants in various locations all around Nevada and key cities in the United States which is why we will deliberately build our brand to be well accepted in Carson City before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Andreas Packman® Veggie Restaurant, LLC;
- Place adverts on community based newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
- Ensure that our we position our banners and billboards in strategic positions all around Carson City – Nevada
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact corporate organizations, households, religious centers, schools and event planners et al by calling them up and informing them of Andreas Packman® Veggie Restaurant, LLC and the products we sell
- Advertise Andreas Packman® Veggie Restaurant, LLC business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and delivery vans and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.
12. Our Pricing Strategy
Pricing is one of the key factors that gives leverage to vegetarian restaurants, it is normal for consumers to go to places (vegetarian restaurants) where they can purchase / order any veggie inspired meals, coffees and soft drinks at cheaper price which is why big player in the restaurant / fast food industry will continue to attract loads of consumers.
We know we don’t have the capacity to compete with bigger and well – established hot dog and sausage restaurants like Darden Restaurants Inc. and Dine Equity, but we will ensure that the prices of all the veggie inspired meals that are available in our restaurant are competitive with what is obtainable amongst veggie restaurants within our level.
We are aware that there are contracts for supply of vegetarian inspired meals by government, corporate organizations or big religious organization; we will ensure that we abide by the bidding pricing template when we bid for such contracts.
- Payment Options
The payment policy adopted by Andreas Packman® Veggie Restaurant, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Andreas Packman® Veggie Restaurant, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards / Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for purchase of our meals without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for the purchase of our products.
13. Startup Expenditure (Budget)
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
As for the detailed cost analysis for starting a vegetarian restaurant business; it might differ in other countries due to the value of their money. These are the key areas where we will spend our start – up capital;
- The total fee for registering the business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
- Marketing promotion expenses for the grand opening of Andreas Packman® Veggie Restaurant, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
- The cost for hiring Business Consultant – $2,500.
- The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
- The cost for construction of a standard restaurant and kitchen – $100,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for start-up inventory (food ingredients and packaging materials et al) – $80,000
- Storage hardware (bins, rack, shelves, food case) – $3,720
- The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
- The cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The cost of purchase of delivery vans – $50,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
- The cost of launching a website – $600
- The cost for our opening party – $10,000
- Miscellaneous – $10,000
We would need an estimate of five hundred thousand ($500,000) Dollars to successfully set up our vegetarian restaurant in the United States of America. Please note that this amount includes the salaries of the entire staff member for the first month of operation and the amount could be more or lower.
Generating Funds / Startup Capital for Andreas Packman® Veggie Restaurant, LLC
Andreas Packman® Veggie Restaurant, LLC is a private business that is solely owned and financed by Andreas Packman and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $200,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Andreas Packman® Veggie Restaurant, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to retail our vegetable inspired meals, coffees and soft drinks a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Andreas Packman® Veggie Restaurant, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the facility to fit into a standard restaurant and kitchen: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Compilation of our list of products that will be available in our shop: Completed
- Establishing business relationship with vendors – suppliers of veggie ingredients, coffees and soft drinks: In Progress