Docstoc

Chris and Paul's Jerk Hut We love to Jerk Executive Summary The

Document Sample
Chris and Paul's Jerk Hut We love to Jerk Executive Summary The Powered By Docstoc
					Chris and Paul’s Jerk
         Hut
                                     Executive Summary



        The purpose of this business proposal is to secure additional, long-term funding to open a fast

food restaurant in The Bronx, New York. The owners of the company are willing to invest $30,000, and

assume over $110,000 in short-term liability to secure the funding for inventory, and early operations.

The loan we seek is in the amount of $200,000.



        Chris and Paul’s Jerk Hut will offer customers of New York City delicious dishes prepared with

our signature jerk sauces along with homemade side dishes and desserts. Located in the heart of the

growing Willow Creek section of Richmond, Chris and Paul’s Jerk Hut will serve a community of 25,000

residents that is made up of students attending State University and families attracted to the new home

construction in the area.



        Chris and Paul’s Jerk Hut will have the advantage of the foot traffic in the Willow Creek retail

area which is the home of numerous art and craft shops.
                              General Company Description



        Chris and Paul’s Jerk Hut is located in the heart of the Willow Creek section of Richmond. The

owners, Chris James and Paul Hogan, are opening Chris and Paul’s Jerk Hut in response to the limited

number of eating places located in the area. The business will offer to New York City Jamaican lunch

items. We will focus on bringing in the customers who visits the arts and crafts stores and is looking for a

warm and comfortable place to relax and enjoy excellent food.



        Chris and Paul’s Jerk Hut has an modern concept that fits between fast food and Jamaican dining

offering the customer the best benefits of both segments. The company provides the convenience of fast

food with rapid response times and affordability. Chris and Paul’s Jerk Hut also offers fresher and tastier

alternatives to typical fried fast food products such as hamburgers or french fries.



                                          Mission Statement


        Chris and Paul’s Jerk Hut is committed to providing a taste of Jamaica in the Willow Creek

section of Richmond. We will offer our customers the best sandwiches and bakery items at

affordable prices.

                                              Objectives


       OUR first objective is to open the restaurant four months from the day that our site is confirmed

        by the realtor. Our site was confirmed in April, therefore our goal is to be up and running by

        August 2010.

       We will pay down our $200,000 loan to $180,000 by August of 2011.
   Repeat customers will constitute 70% of our overall business by the end of 2011.

   Net Profit for year one will be 21%.
                                              Products



         Chris and Paul’s Jerk Hut will offer customers authentic Jamaican dishes and Sides.

The menu will include:

Lunch Items




Sides:
                                         Marketing Plan



        In the past ten years, the Willow Creek section of Richmond has grown tremendously. The

growing student community combined with the customers of the area's arts and craft stores are a perfect

support base for the Jerk Hut. Currently, the area is served by three small restaurants and two coffee

shops. None of these restaurants or shops carry the menu items found at the Jerk Hut. In addition, the

bakery is located on Harpoon Street which is the area's main street. The foot traffic on Harpoon Street is

very heavy with arts and crafts shoppers and State University students.




                                       Market Segmentation

        Chris and Paul’s Jerk Hut will focus on two significant customer groups:



• Arts and Craft Shoppers: The community is home to a number of artists and craft people. This creates a

festive environment in the central commercial/retail area that attract shoppers each weekend. Chris and

Paul’s Jerk Hut is adjacent to the Craft Fair and the traffic from the fair are sure to pass Chris and Paul’s

Jerk Hut.



• Students: Chris and Paul’s Jerk Hut will be a half block from campus. A significant number of students

spend money on food and drink in the area. The jerk hut’s location will be a convenient place to grab a

bite or a drink on the way to or from classes.
                                         Competitive Edge


Chris and Paul’s competitive edge is:



• Location: Chris and Paul’s Jerk Hut is located in the heart of the Willow Creek section of

Richmond. The foot traffic in the retail area is very strong. The weekend fair will provide excellent foot

traffic. In addition, Chris and Paul’s Jerk Hut is a walk way for students going to and from classes at State

University.



• Jamaican Focus of Menu: The menu for the Chris and Paul’s Jerk Hut is a perfect addition to the arts

and craft focus of the businesses in the area. We offer the customer a chance to step out of Richmond and

into the heart of Kingston, complete with the sights and sounds.




                                 Strategy and Implementation


        Chris and Paul’s Jerk Hut will promote the store opening. We will have live music and food in

front of the business opening weekend. The Craft Fair will provide excellent foot traffic for our opening.

We will advertise in the university daily student newspaper as well as the loc al area advertising flyer. In

the advertisements for the market opening, we will have 2 for 1 specials on jerked items. We will

continue this discount for the first month of operation.
                                          Sales Forecast




        The sales strategy of Chris and Paul’s Jerk Hut is simple; the key to customer satisfaction is

providing an exceptional product at affordable prices in an environment that is as entertaining as the food.

Refer to Chris and Paul’s Jerk Hut Financial Statements


Sales Forecast Section
                              Management and Organization


        Chris will manage the daily operation of the Business. He has ten years of experience working in

the restaurant industry. Before relocating to Richmond, Chris was manager of two Jamaican Restaurants

in New York City and Paul was a head chef for The Ventura Hotel in Negril Jamaica for six years,

managing a kitchen staff of five. During that time, the business grew by 15% each year. Both partners are

heavily involved in the daily operations of the business with Chris being the manager and Paul being the

head chef.



There will be other staff as well, these include;



• Kitchen staff (3)

• Admin Staff (2)

• Waiters/waitresses (2)



There will be nine (9) people in total working at



Payroll expenses for first year:




Chris and Paul                     33,600

Kitchen Staff                      84,000

Waiters/Waitresses                 39,600

Admin Staff                        48,000

Total                          205,200
                                         Start Up Costs


        The start-up cost of Chris and Paul’s Jerk Hut will consist primarily of kitchen equipment and

dining set-up. Chris and Paul will invest $80,000. They will also secure a $50,000 loan.




Refer to Chris and Paul’s Jerk Hut financial statement


Start up costs section
                                        Financial Plan


Refer to Chris and Paul’s Jerk Hut financial statements.

Projected Cash Flow

Projected Balance Sheet

Projected Profit and Loss Account

Break Even Analysis

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:3
posted:3/22/2012
language:English
pages:11