Business plan for a Korean and Japanese restaurant

Business invent for a Korean and Nipp geniusse eateryThe purpose of this business plan is to justify the startup of a graduate(prenominal)-end Korean and Nipponese restaurant in the Carrolton, TX ara. Sushi Nara exit have one owner and the juristic structure entrusting be of a sole proprietor. Sushi Nara bequeath be located in 2625 Old Denton Rd. 200 Carrolton, TX 75007.Sushi Nara will issue a high class Korean and Japanese cuisine. Based on communicate income and financial compend included in this business plan, Sushi Nara will be successful. There is a high demand for wakeless food, especially Asian cuisine like Korean and Japanese cuisine in the Dallas area due to the lack of similar business available. We look forrader to the future at Sushi Nara. We expect in five years that demand for our specialized swear out will grow in opposite areas to justify possible action several restaurant owned franchises in other areas.Sushi Naras specialized help, distinctive l ogo, slogan Top quality Top Service, reputation for node service will provide a tough to beat competitive edge. The owners have earned Bachelor degrees of business, and have extensive experience in business management and trading operations from past years of work experience.Management and Organization visualiseSushi Nara, Korean and Japanese fusion restaurant, has a mission that to provide outstanding Korean and Japanese cuisine to Korean community in Dallas, Texas. Sushi Naras specialized service, distinctive logo, and slogan Top Quality and Top service, reputation for customer service will provide a tough to beat competitive edge. Sushi Nara is commit to becoming Dallass premier Korean and Japanese restaurant. Dedication to grammatical construction relationships is based on our honesty, service, and accountability. Sushi Nara is also committed to exceptional customer satisfaction.LocationSushi Nara is located in a Korean town in Carrolton, TX. The address is 2625 Old Denton Rd. 200 Carrolton, TX 75007. The 3,400 square foot building was built specifically for the mercantile property. The entire building is serviced by a Korean retailer and whole seller. Sushi Nara primary(prenominal)tains 11am to 9pm, on Tuesday to Sunday.Company missionAt its core, Sushi Nara provides for the Korean traditional cuisines, Japanese cuisines, traditional Korean Soju, and Japanese Sake. Restaurant provides to customer with an outstanding quality sushi, sashimi, and Korean cuisine in one place. To provide high quality food, we do not use chemical ingredients and frozen products.Company VisionEating healthy Korean and Japanese cuisine at one place Today at that place are many concerns regarding to our health and many experts advising us how we should eat. We must pay close attention to our diets, scarce eating hygienic should not only benefit your body, but your mind as well. We, Sushi Nara, believe that of all the ways that people can eat, Korean and Japanese Cuisine are the healthiest and safest diet. We are going to start Sushi Nara so that people might learn how to eat a healthy diet. As native Koreans, we have the benefit of sagaciousness traditional Korean cuisine and quickly saw that there were many Korean dishes we could introduce to westerners.ProductThe service that Sushi Nara is going to offer is one in which it makes your dining better and healthier. We want to treat our guests with respect so that it makes their dining more enjoyable. Sushi Nara will be providing services for dining such as Korean cuisine, Japanese cuisine, and traditional alcohols. A typical Korean meal unremarkably consists of one main dish, generally centerfield or fish, and a wide regulate of tiny side dishes as appetizers or Ban Chan. Kim Chi, a spicy fermented cabbage dish highly seasoned with garlic and red pepper, is served at nigh all meals and is probably the best known Korean Ban Chan. A typical Korean meal usually consists of sushi, sashimi and teri yaki.Two very popular meat dishes are Gal-Bi, and Bul-Goki which are marinated in a delectable sauce and grilled over an open flame.Soups are also another Korean staple at mealtimes. A popular soup is Man Du Guk, a tasty dumpling stew in a seasoned beef broth.Another favorite is Bi-Bim-Bab, which usually makes for a hearty meal on its own, with just a few appetizers. Bi-Bim-Bab starts with rice in a big bowl, and is topped with assorted vegetables and mixed with a spicy bean paste. This dish can be served with shreds of beef or without.Sushi is a Japanese dish consisting of cooked vinegary rice which is commonly topped with other ingredients, such as fish or other seafood. Sliced raw fish by itself is called sashimi, as distinct from sushiOrganizational Structure and Human ResourcesSushi Naras legal structure is sole proprietorship. Sushi Nara has 4 full time employees and 3 part time employees. Sushi Nara categorizes employees into quaternary types of labor, Director, Receptionist / specieer, Kitchen employee, and Customer Service. These categories are determined by position statement and experience requirements.Director has all responsibility of restaurant not only financial problems, customer service, advertising but also recipe and food quality, but usually executive director is going to be to greet customers and to check customers bill at the front desk.Receptionist/Casher has responsibilities approximately dining appointment, check bill, and customer greeting.Kitchen employee has responsibilities about cooking, food supply purchasing, food quality and everything inside the kitchen.Customer service has responsibilities about customer satisfaction during food serving.Director/Owner 1Organization StructureKitchen employee 2(Chef 1)(Assistant chef 1)Receptionist/Casher 1Customer service 3Human Resource RequirementsDirector/OwnerThe psyche who has knowledge of general business.Receptionist/CasherThe person who has an accounting KnowledgeThe person who wit h no contagious diseasesKitchen Employee The person who has a license of Korean and Japanese cuisine The person who has chef experienced at least terce years The person who has and honest and diligent attitude The person who with no contagious diseasesCustomer ServiceThe person who with no contagious diseasesThe person who has a customer service mindThe person who has honest and diligent attitudeMarketing PlanIndustry OutlookAccording to National Restaurant Associations 2010 Restaurant Industry Forecast, stinting downturn easing, the restaurant industry is expected to show gradual improvement in 2010. Sustainability, health and nutrition will be the top trends on restaurant menus this year. Seventy percent of consumers say they are more likely to gossip restaurants that offer fresh produced food, and nearly three out of four say they are trying to eat healthier in restaurants now than they did two years ago.Target MarketA stick ins success often depends on how carefully its addr ess market has been identified. Our main targets are Korean customers who live in Dallas and nearby states. Dallas is one of the most important cities to Korean society in US. According to The Korea Embassy in Houston, officially 148,000 Korean people live in Texas. There are a lot of Korean wholesale stores in Carrolton, TX and on Harry Hines Blvd in Dallas. Usually, Dallas covers business supply to Korean retail store, located in Oklahoma, Mississippi, Louisiana, and Arkansas.Customer ProfilePrimary customers will beA Korean and Japanese family who lives in Dallas and age range are twenty to seventy.Korean goods retailer who lives in out of Texas such as Ok, AR, and LA.Secondary customers will beAmerican customer who likes Korean and Japanese cuisine.Competitive EnvironmentAccording to Yellow Pages, there are only 13 Korean restaurants and 88 Japanese restaurants In Dallas area. But, there are a few restaurants that serve Korean and Japanese dishes at the akin time. So, we focus on Korean and Japanese restaurant at the same time, for as I do this, our restaurant can meet the customers needs, they want to eat Korean dishes and Japanese dishes in one place. This will allow for the world of a great deal of customer awareness and brand loyalty, erecting significant barriers to entry for potential competitors. Here are our competitors.Korea hearthstoneGui Korean Japanese Bistro BarOmi Korean Grill BarTodamgolDirect CompetitorRestaurant NameMenuDistance/AddressPrice rangeKorea Househttp//www.koreahousedallas.com/Korean and Japanese cuisineWithin 8 miles/2598 Royal Ln. Dallas, TX 75229Korean dishes $12- $20Japanese dishes $20- $90Gui Korean Japanese Bistro Barhttp//www.guirestaurant.com/Korean and Japanese cuisineWithin 15 miles/2719 McKinney AveDallas, TX 75204$10 $30Indirect CompetitorRestaurant NameMenuDistancePrice rangeOmi Korean Grill Bar http//www.omikoreangrill.com/Korean cuisineWithin 0.1 miles/ 2625 Old Denton RdCarrollton, TX 75011$8 $33Todamgol Korean cuisineWithin 0.1 miles/2625 Old Denton Rd., Ste. 310 Carrollton, TX 75007$8 $20 dweeb AnalysisPrice strategySushi Nara will be offered at the following prices.Our Korean cuisine price is a little bit superior wherefore our competitors price, but our Japanese cuisine price is inferior then our competitors price, for we use good ingredients for customers health.Korean Traditional Meal starts ten dollar to twenty dollar.Sushi starts fifteen dollar to twenty dollar.Sashimi starts twenty dollar to one hundred dollar.Korean traditional alcohols start nine dollar to fifteen dollar.We offer money binding guarantee If customer who does not satisfied food quality. We will do re-dish or refund your money.We offer ten dollar gift card when you visit 10 times.Advertising and Promotion StrategyFor the first year, Sushi Nara will use word of mouth advertising by meeting with friends and business associates on a regular basis. Promotion of Sushi Nara will also do by attending meetings an d networking with the Korean Society of Dallas. Also we will advertise on three variant types of Korean daily news papers, seven different types of Korean weekly news papers, and Korean social TV network. We will create our own commercial through Korean social broadcasting to attract the television viewers. We are also trying to expose our service placing flyers in local grocery stores and placing ads in the local newspaper to attract the readers. Once business gets going we will also be providing discount coupon and special offers when the customer chooses Sushi Nara.Adverting on Korean news paper and Korean social TV networkFlyersDiscount couponSpecial offers (ex. birthday special)Market Penetration StrategyAt Sushi Nara our main target market is reaching out to middle to upper income customers, Korean community, and who interested in healthy food about Korean and Japanese cuisine. Our service is affordable and convenient to our customer. Sushi Nara wants to make sure that we kee p our pricing in the mid to upper range to attract customers. Keeping our price reasonable will create a higher net income margin for the service that we are providing along with attracting more potential customers.As the market is continuously changing, we will be adding a new menu to adapt market changing.We treat our customer like a family.30% of our profit will be invested to improve our restaurants environment.We will use fresh productWe will focus on qualityWe will use Original Korean/Japanese recipe (No modify)Facility PlanFacility DescriptionThe restaurant at 2625 Old Denton Rd. 200 Carrolton, TX 75007 is a 2400 Square foot space. It was formerly a restaurant and needs on shaver structural modifications. The licenses and codes issues are all in order. New equipment and dining room furnishings will be purchased and installed by the general contractor.conveyor-belt sushi * 1 (10 people ) elude and four chairs * 8 (32 people)Table and eight chairs * 2 (16 people ) be 58 seats availableUsed Commercial Stainless Steel 3027 Equipment Utility conductKitchen appliancesServing dishesCommercial Cooking Equip 36 Six Eye Range V36OVENUsed Refrigerator CoolerDeep FryersJapanese CookwareJapanese Kitchen UtensilsRice CookersSushi Display CaseTeppanyaki GriddlesUnder counter Coolers x 1Computer and PrinterUsed Ice Head Maker w/ stash away and Remote IRC830Used McCann Coke Product 6 Head Soda Beverage Dispenser w/ Ice BinWine Buckets Stands x 10 monetary PlanObjectivesWe are expecting that sales of over $400,000 in first year.We are expecting that net profit over $100,000 in three year.Start-up SummarySushi Nara has found the store location. Sushi Naras monthly rent cost is around $4,000 per month. We are expecting to set up the shop in time to begin turning back a profit by the end of month sixth and be profitable in the one year. The place which we selected is already surrounded by Korean shopping center, so there is a lot of customer traffic. So we plan to com e up with a total of $90,000 in capital, plus a $100,000 guaranteed loan, to start up the restaurant..Table Start-up financial planSushi Nara Start-up financial planRequirementsStart-up ExpensesLegal Form$3,000Cleaning and Stationery$2,000 new(prenominal)$1,500Total Start-up Expenses$6,500Start-up Assets NeededCash Balance on Starting Date$88,500Other current Assets$100,000Total afoot(predicate) Assets$188,500Long-term Assets$0Total Assets$188,500Total Requirements$194,500Fundinginvestment fundsInvestor 1$90,000Total Investment$90,000Current LiabilitiesAccounts Payable$5,000Current Liabilities$5,000Long-term Liabilities$100,000Total Liabilities$105,000Loss at Start-up($6,500)Total Capital$83,500Total Capital and Liabilities$188,500 sales StrategyTable Sales Forecast building block Sales201120122013Meals28,08033,00038,000Drinks13,00016,00019,500Other310450700Total Unit Sales41,39049,45058,200Unit Prices201120122013Meals$16.00$16.00$16.00Drinks$2.00$2.00$2.00Other$10.00$10.00$10.00S ales201120122013Meals$449,280$528,000$608,000Drinks$26,000$32,000$39,000Other$3,100$4,500$7,000Total Sales$478,380$564,500$654,000Direct Unit Costs201120122013Meals$3.00$3.00$3.00Drinks$0.60$0.60$0.60Other$1.50$1.50$1.50Direct Cost of Sales201120122013Meals$84,240$99,000$114,000Drinks$7,800$9,600$11,700Other$465$675$1,050Subtotal Direct Cost of Sales$92,505$109,275$126.750Human Resource monetary PlanOur restaurant will be consisting of seven peoples. As the Human resource financial plan table shows that each salary are considering inflation.Table Human Resource Financial PanHuman Resource Financial Plan201120122013Director60,00061,00062,000Receptionist$42,000$43,000$44,000Chef$54,000$55,000$56,000Chef assist$30,000$31,000$32,000Hall server$72,000$75,000$78,000Other$14,000$15,000$16,000Total People777Total Payroll$272,000$280,000$288,000Break-even AnalysisSushi Naras break-even analysis is based on the average of the first financial year sales revenue for total product sales by meal and drink served, total cost of sales, and all operating expenses. Our total product sales are presented as per-unit revenue, per-unit cost, and fixed costs. We estimate that this break-even analysis numbers are not really the same as fixed cost, but these break-even analysis assumptions make for a better estimate of real risk.Table Break-even AnalysisBreak-even Analysis (Monthly)Sushi NaraSushi Nara Units Break-even Point16,000Sushi Nara Revenue Break-even Point$16,000Sushi Nara Break-even point assumptions (Average)Unit Revenue$10.44Unit Variable Cost$8.34Estimated Monthly Fixed Cost$29,459project Profit and LossAs the profit and loss table shows, we expect to become barely profitable in the second year of business, and to make an delicious profit in the third year.Table Pro Forma Profit and LossPro Forma Profit and Loss201120122013Sales$478,380$564,500$654,000Direct Cost of Sales$92,505$109,275$126.750 labor Payroll$0$0$0Other$0$0$0Total Cost of Sales$92,505$109,275$126.750Gros s adjustment$385,875$455,225$527,000Gross Margin %80.66%80.64%80.58%ExpensesPayroll$272,000$280,000$288,000Sales and Marketing and Other Expenses$15,000$23,000$33,000Depreciation$1,000$1,050$1,103Utilities$2,200$2,260$2,323Payroll Taxes$41,300$52,550$60,500Other$0$0$0Total Operating Expenses$331,500$358,860$384,926Profit Before elicit and Taxes54,357$96,365$142,074Interest Expense$10,000$9,500$8,250Taxes Incurred$0$6,890$18,363Net Profit$44,357$79,975$115,461Net Profit/Sales9.27%14.16%17.65%Projected Cash FlowThe cash flow projection shows for three yearsTable Pro Forma Cash FlowPro Forma Cash FlowCash Received201120122013Cash from OperationsCash Sales$478,380$564,500$654,000Cash from Receivables$0$0$0Subtotal Cash from Operations$478,380$564,500$654,000Additional Cash ReceivedNon Operating (Other) Income$0$0$0New Current adoption$0$0$0New Other Liabilities (interest-free)$0$0$0New Long-term Liabilities$0$0$0Sales of Other Current Assets$0$0$0New Investment Received$0$0$0Subtotal Cash Received$478,380$564,500$654,000ExpendituresExpenditures from OperationsCash using up$17,400$19,800$27,000Payment of Accounts Payable$360,000$410,000$480,000Subtotal Spent on Operations$377,400$429,800$507,000Additional Cash SpentNon Operating (Other) Expense$3,500$4,700$6,800Principal Repayment of Current Borrowing$0$0$0Other Liabilities Principal Repayment$0$0$0Long-term Liabilities Principal Repayment$500$10,000$15,000Purchase Other Current Assets$0$0$0Subtotal Cash Spent$381,400$444,500$528,000Net Cash Flow$96,980$120,000$126,000Cash Balance$185,480$305,480$431,480Projected Balance SheetThe table shows projected balance sheet for three years.Table Balance SheetPro Forma Balance SheetAssetsCurrent Assets201120122013Cash$185,480$305,480$431,480Other Current Assets$100,000$100,000$100,000Total Current Assets$285,480$405,480$531,480Long-term AssetsLong-term Assets$0$0$0Accumulated Depreciation$1,000$1,050$1,103Total Long-term Assets($1,000)($1,050)($1,103)Total Assets$284,480 $404,430$530,377Liabilities and Capital201120122013Accounts Payable$35,000$41,000$53,000Current Borrowing$0$0$0Other Current Liabilities$0$0$0Subtotal Current Liabilities$35,000$41,000$53,000Long-term Liabilities100,000$90,000$75,000Total Liabilities$135,000$131,000$128,000Paid-in Capital$90,000$90,000$90,000Retained Earnings($15,123)($45,000)($50,000)Earnings$44,357$79,975$115,461Total Capital$119,234$124,975$155,461Total Liabilities and Capital$284,480$404,430$530,377Net Worth$119,234$124,975$155,461