Executive Summary Elkin’s Burger Palace is a locally owned burger joint serving a full line of specialty and gourmet hamburger options. Customers can enjoy the 1950s-style diner atmosphere and choose their meats, their hamburger cooking style, toppings, bun bread types, and sides. Included in the meal experience will be a full burger-topping bar, salad bar, and hot foods bar where customers can get fresh onion rings, fried okra, seasoned and regular fries, and more. In addition to great food with an excellent selection of sides and healthy options, customers will find a great value, excellent customer service, and a full-scale dining experience. The modern restaurant industry is highly competitive. In order to create a theme that meets the needs of customers while maintaining the competitive edge, Elkin’s Burger Palace will provide a unique dining experience with a reasonable value. On top of a family dinner experience, Elkin’s will also feature a sports bar seating area, as well as regular happy hour specials. Plans have been organized and are in place to purchase two locations for the restaurant, allowing for an initial investment in a larger customer base and a larger geographical presence to allow for word-of-mouth marketing. Projected revenues, operational costs and profits have been analyzed and tabulated in the figure below. As can be noted in the chart above, it has been predicted that Elkin’s Burger Palace will operate with a rapid growth in the profit margin. These predictions have been made from the first year of operation of our pilot restaurant. Investments made at this stage will allow for the construction and opening of two more Elkin’s restaurants. Objectives The objectives of this stage of Elkin’s Burger Palace will be in line with the expansion of business, marketing, and future expansion plans. They are listed below: * To expand the Elkin’s Burger Palace product presence in the metropolitan area * To make Elkin’s a destination for families, teens, businesses, and sports fans throughout the new geographical regions * To reach a level of profit that will enable for the return on investment to shareholders, as well as allow for further expansion Mission Our mission is to be the number one spot for burger fans in the metropolitan area. As our business model has already demonstrated great potential for future development, we intend to produce a fun, cost-effective environment where all customers’ needs are met. Elkin’s Burger Palace will continue to strive for the best customer experience possible, starting at the door, then at their table, and finally on their way out. We strive to create repeat customers with a loyal base in order to ensure our future goals. Company Summary Who We Are Elkins’ Burger Palace produces a dining experience that is not found anywhere else. Not only do we provide award-winning burgers and excellent selection, we also cater to a wide range of customers. Not Just a Meal, a Dining Experience Elkin’s does not just offer the same sit-down dining experience that customers will find at most chain restaurants. Instead, they will find themselves overwhelmed by the friendly and exciting environment. The 1950s style will provide an exciting theme in which the experience will take place. From “door to door,” the Elkin’s staff will take great care of customers in order to ensure they are satisfied. Fresh, Quality Meats Customers can choose from beef, buffalo, venison, pork, turkey, and vegetarian options knowing that their food is fresh and of the highest quality. Our meat connoisseurs are trained to search out the best meats, researching the living conditions of the animals, their diets, and their handling practices. Only the most humane practices, quality diets, and highest standards of meat handling are chosen. Open 15/7/365 Elkin’s is open from 9AM to 12 Midnight seven days a week, year round. The Elkin’s Owners Terry and Bernard Wallace bring with them more than a decade of restaurant management experience. Between the two of them, they have worked every position in every restaurant environment, from hosts, busboys, waiters, sous chefs, grill chefs, line cooks, kitchen managers, front end managers, bartenders, and everything in between. Their unique backgrounds in diverse restaurant experience have helped them understand the meaning of great food and great service. In addition to his restaurant expertise, Terry holds both a BA degree in Business Administration and a BA in Culinary Arts. Elkin’s is his second business venture, following Terry’s Cuisine, which he sold in 2010. Bernard holds his MBA from Stratton University, a degree he helped pay for with his restaurant experience. He is a true entrepreneur with a heart and mind for business. Expansion Summary The figure below summarizes the investment sources for this expansion phase. All investments total $400,000. This will allow for $150,000 to go to renovations for each restaurant location, as well as an additional $100,000 for initial costs, such as staff payroll, food, furniture, and setup costs. These costs are itemized in the table below. Market Summary A comprehensive analysis of the current customer base, in addition to analysis of surrounding potential market penetration for the proposed business sites of the expansion, show a large and diverse market base, as seen in the pie chart below. Downloaded from http://www.wikihow.com