Perfect for a New England Vacation!
Sarah Santiago
Entrepreneurship-KC
December 6, 2006
Business Name
Perfect for a New England Vacation!
What Is The Granite State Inn and
Restaurant?
The Granite State Inn and Restaurant will be located
in New England so that visitors may enjoy the best
that New England can offer every season.
The Inn will house 10 impeccably clean rooms:
• 7 Regular
• 2 Executive
• 1 Presidential
The Restaurant will be able to hold 40 people in it’s
dining area.
Perfect for a New England vacation!
Business Idea
• The main idea is provide a friendly, clean environment for
guests and diners.
• Rooms and meals will be affordable.
• Staff will focus on providing a romantic and enjoyable
atmosphere to its guests and diners.
• Concierge will offer local maps and suggestions on where to
shop, dine, and site-see.
Perfect for a New England vacation!
What Types of Rooms Will Be
Offered?
Regular Rooms Executive Rooms Presidential Room
•Smaller sized •Medium sized •Largest room
•Great for families or a •Great for families or a couple •Perfect for a romantic weekend!
single person •King sized bed or queen •California King bed
•Queen size bed or two sized bed and pull out couch
•Couch
double beds •Desk
•Coffee table
•Desk •TV
•Desk
•TV •Closet
•TV
•Couch •Couch
•DVD player
•Closet •Mini-refrigerator
•Closet
•Full Bathroom •Full Bathroom
•Dining table
•Small kitchen complete with
ALL Rooms are Non-Smoking microwave, sink, and refrigerator
•Full Bathroom with double
Perfect for a New England vacation! sinks, a Jacuzzi tub/ shower
Amenities and Services
• Room Service
• Turndown Service
• Complimentary Pillow
• Chocolates
• Complimentary High-Speed Internet
• Reduced Meal Prices in The Granite State Restaurant
• Balcony
• Private Bathrooms
• In-room Coffee
Perfect for a New England vacation!
Location
The Granite State Inn & Restaurant
will be located in Wilton, NH.
Perfect for a New England vacation!
How Is The Granite State Inn and
Restaurant Different From the Many Other
Inns?
• The Granite State Inn has an in house restaurant that can
provide food for guests and the general public.
• The Granite State Inn has choices for rooms instead of one
standard room.
• The Granite State Inn will provide a romantic environment with a
mix of décor to suite everyone’s tastes.
Perfect for a New England vacation!
Who Are Potential Competitors?
Name of
Product/Service Price Quality
Company
Stepping Stones Full Breakfast
Bed & Breakfast $65-
Bed and Breakfast included;
$85
Wilton, NH Home baking
Breakfast
Birchwood Inn $85- included,
Inn
Temple, NH $110 Dining area /
Tavern
Awarded for
$210- Hospitality
Bedford Village Inn Inn
$350 and Dining
Bedford, NH Excellence
Crowne Plaza $130-
$250 Lounge and
Hotel
Nashua, NH Pool
Perfect for a New England vacation!
What Is The Competitive
Advantage?
• Many Room Options
• Dining area on the premises
• Convenient Dining Hours
• Great Tourism Location
• Close to Airport
• Access to city attractions and town attractions
• Many amenities
Perfect for a New England vacation!
What is the Business
Organizational Structure?
The Granite State Inn and Restaurant will
open as a sole proprietorship.
After 5 years, if the business is not as
successful as I wish, I will consider
taking on a partner.
Perfect for a New England vacation!
Why should the Granite State Inn
open as a sole proprietorship?
• I want to be able to open the business
by making all of the decisions.
• A partnership means a friendship, and if
a partnership goes sour, so will the
friendship.
• I have enough faith in myself that I can
open and run my business on my own.
Perfect for a New England vacation!
Why Is There A Possibility of A
Partnership Later?
• If my business is unsuccessful, I will
consider taking on a partner to gain a
larger spectrum of ideas.
• If the company needs financial support,
a partnership would disperse the
financial burden.
Perfect for a New England vacation!
What does Sole Proprietorship for
The Granite State Inn and
Restaurant Mean?
• Personal Liability: Fully covered personal liability insurance to protect all
of my personal assets
• Sharing the profits: I have complete ownership and control of The Granite
State Inn and Restaurant. I make the final decision on all business
opportunities and keep all of the profits
• Taxes on the Income: Personal Tax Rate (Lowest Tax Rate)
• Sharing of Ideas: I will be the sole contributor of all ideas of the business. I
will take classes in marketing, finance, management, and accounting.
• Dissolution of the business: After 5 years if my business is not successful,
I will consider taking on a partner. If something happens to me, I would
give the business to my husband.
• Raising Capital for future expansion: After running my business for about
10 years successfully, I will consider taking some of my profits and invest
them back into the business for expansions, additions, upgrades, and
refurbishments.
• Ownership: Sarah Santiago
Perfect for a New England vacation!
What Type of Business Is The
Granite State Inn and Restaurant?
Service Retail Business.
Perfect for a New England vacation!
Who Is The Target Customer?
• Couples looking for a romantic weekend.
• Potential customers can be of any social
status; however, due to room rates, the
customer will probably be middle class to
upper middle class.
• The Granite State Inn is surrounded by a
romantic atmosphere it is aiming to bring in
adults of both genders
Perfect for a New England vacation!
What Needs or Wants Will The
Granite State Inn Fulfill?
• The Granite State Inn will be able to
offer rooms to anyone who may be
visiting the area and needs a room.
• The Granite State Inn will be able to
provide a friendly, romantic, and clean
environment to any guest who may
want it.
Perfect for a New England vacation!
What Needs or Wants Will The
Granite State Restaurant Fulfill?
• The Granite State Restaurant will be
able to offer meals to anyone who is
staying in the Inn or anyone from the
general public.
• The Granite State Restaurant will be
able to provide an array of tasty meals
to any diner.
Perfect for a New England vacation!
Market Research Results
• Potential guests wanted prices ranging from $150- $250.
• Potential Guest would rather stay at a B&B instead of an inn,
hotel, or motel.
• Most potential guests would not travel during the holidays.
• Most potential guests would like an antique décor paired with a
romantic atmosphere.
• Potential diners would like to dine in a casual atmosphere inside
of the establishment they are staying at.
• Potential diners would be most likely to pay $15- $20 per
person.
• When searching for vacation ideas, most people look on travel
websites over the internet.
Perfect for a New England vacation!
Survey Results
Perfect for a New England vacation!
Survey Results
Perfect for a New England vacation!
Survey Results
Perfect for a New England vacation!
Survey Results
Perfect for a New England vacation!
Survey Results
Perfect for a New England vacation!
Survey Results
Perfect for a New England vacation!
Influence of Market Research
on Prior Business Plan
• The Granite State Inn will offer guests a
romantic environment with antique
décor.
• Rooms will be priced from $150-$300.
• The Granite State Inn will offer holiday
and lengthy stay deals.
• Diners will have many food options
priced around $15 per person.
Perfect for a New England vacation!
Sales Presentation
Looking for a place to stay for a romantic
weekend? Do you look for friendly service, cozy
rooms, and great meals? Would you like to stay
in a place that offers the best of every season?
The Granite State Inn and Restaurant is the
perfect place to go for a New England vacation!
Perfect for a New England vacation!
Business Card
Perfect for a New England vacation!
Sarah Santiago
90 Hearth Stone Lane Wilton,
NH 01562
Phone: (603) 654-6091
Fax: (603) 654-6092
GraniteStInn@tds.net
Perfect for a New England vacation!
Advertisement
With friendly service, cozy rooms, and
great meals, The Granite State Inn and
Restaurant is the perfect place to go for
a New England vacation!
Rooms range from $150- $350
90 Hearth Stone Lane
Wilton, NH
01562
Perfect for a New England vacation! Phone: (603) 654-6091
The Granite State Inn and
Restaurant Slogan:
Perfect for a New England Vacation!
Perfect for a New England vacation!
How Will The Granite State Inn and
Restaurant Reach Its Potential
Customers?
• Newspaper ads.
• Magazine Articles.
• Search Engines.
• Travel Websites
Perfect for a New England vacation!
Financial Statements
Economics of Presidential Room
Selling price per unit- $350.00
Cost of goods sold per unit-
Laundry: $ 10.00
Cleaning: $ 10.00
Soaps: $ 5.00
Stationary: $ 2.00
Total: $ 27.00
25% overhead: $ 6.75
Total: $ 33.75
Gross Profit per Unit: $316.25
Perfect for a New England vacation!
Financial Statements
Economics of Executive Rooms
Selling price per unit- $250.00
Cost of goods sold per unit-
Laundry: $ 10.00
Cleaning: $ 10.00
Soaps: $ 5.00
Stationary: $ 2.00
Total: $ 27.00
25% overhead: $ 6.75
Total: $ 33.75
Gross Profit per Unit: $216.25
Perfect for a New England vacation!
Financial Statements
Economics of Regular Rooms
Selling price per unit- $150.00
Cost of goods sold per unit-
Laundry: $ 10.00
Cleaning: $ 10.00
Soaps: $ 5.00
Stationary: $ 2.00
Total: $ 27.00
25% overhead: $ 6.75
Total: $ 33.75
Gross Profit per Unit: $116.25
Perfect for a New England vacation!
Financial Statements
Economics of The Granite State
Restaurant
Breakfast Lunch
Selling price per unit- $ 15.00 Selling price per unit- $ 30.00
Cost of goods sold per unit- $ 5.00 Cost of goods sold per unit- $ 10.00
25% overhead: $ 1.25 25% overhead: $ 2.50
Total: $ 6.25 Total: $ 12.50
Gross Profit per Unit: $ 8.75 Gross Profit per Unit: $ 17.50
Dinner
Selling price per unit- $ 35.00
Cost of goods sold per unit- $ 15.00
25% overhead: $ 3.75
Total: $ 18.75
Gross Profit per Unit: $16.25
Perfect for a New England vacation!
Start-up Costs
Perfect for a New England vacation!
Sources of Financing
Perfect for a New England vacation!
Yearly Income Statement
Perfect for a New England vacation!
Return On Investment
For The First Year of Business
Formula: ROI= $119,348 - $866,150
(100) $866,150
ROI= -86%
Perfect for a New England vacation!
Technology
Gateway Computer: To Keep Good Records
Computer, Telephone, Fax Telephone: To receive and cancel
reservations
Hosted By Yahoo: A form of advertisement;
so guests can view rooms and options for
Homepage
their trip. The home page will also allow
guests to make reservations
Quickbooks Pro 2005: Great for keeping
Accounting Software
financial records.
TDSmail: To inform guests of confirmations,
E-mail
deals, cancellations, local weather, etc.
Perfect for a New England vacation!
Future Additions
• More rooms
• More dining area
• Pool
• Event planning services
• Conference Room
Perfect for a New England vacation!
How to Keep The Granite State Inn
and Restaurant’s Success:
• Maintain Cleanliness
• Keep staff friendly and happy
• Keep guests happy
• Offer deals
• Continuously present something
new and exciting to keep customers
interested
Perfect for a New England vacation!
How to Tell If The Granite State Inn
and Restaurant Are Successful:
• Returning Customers
• Good Reviews from Critics
• Smiling Customers!
Perfect for a New England vacation!
Thank you for your time. If
you have any questions
please feel free to call
1- 603- 654- GSIR.
Perfect for a New England vacation!