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Business Plan for Fried Green Tomatoes Restaurant
Company Summary
Fried Green Tomatoes Restaurant is a new medium-sized restaurant located in the trendy neighbourhood of Woodstock, Cape Town. Fried Green Tomatoes’ emphasis will be on healthy organic food, prepared simply, with emphasis on sustainable development. The restaurant will only use ingredients that are in season and sourced locally. Our end goal is to be a profitable business and we formulated our strategies to achieve long term success. FGT will aspire to become the most popular organic and health foods restaurant in Cape Town by delivering consistent pleasant experiences to our customers, and use only the freshest organic ingredients.
Company ownership
The company will start out as a private company, co-founded by Andrea Larson and Gian Gusto.
Start-up Summary
We already found the ideal premises for the new Fried Green Tomatoes Restaurant in the Old Biscuit Mill Lifestyle Centre in Woodstock. The owners have signed a rental agreement for R10 000 a month for the first year, and thereafter an increase of 15% will apply for the next 5 years. The premises have been used by another restaurant previously, and the owners have agreed to sell all the kitchen equipment to FGT Restaurant at a market related price.
Start-up Costs
The detailed list of start up costs is:
Total Expenses – R347 800
Legal costs, including licensing - R700
Salaries for the first month – R72 0000
Furnishing of the new restaurant – R150 000
Refurbishment – R80 000
Food and drink stock for a month – R27 000
Electricity – R5000
Stationery – R2000
Promotion material – R1800
Staff uniforms – R3000
Funding – R500 000
Business Partners have invested R300 000
Gian Gusto have invested R200 0000
Assets – R47 000
Point of sale system – R12 000
Industrial Refrigerators – R35 000
Services
The Menu
The menu will change weekly according to the available produce. This will help us to reduce waste and plan the menu based on availability of the ingredients. It has the added bonus of keeping the menu interesting and up to date with changing demand.
Ingredients
The organic ingredients will be sourced locally to help up and coming farmers in the area and to promote Fried Green Tomatoes Restaurant as a community orientated restaurant. It also ensures that our Restaurant uses only the best and freshest ingredients in all our dishes.
Market Analysis Summary
Because of Chef Gusto’s connections within the trendy area of Woodstock, we have an excellent feel for the area and its core group of customers. All of our target markets have the same thing in common, a love for simple, flavoursome cuisine that is in line with modern eating habits. Our prices will be on the high end, and this is a strategy in itself to portray the value of fresh organic ingredients used in exquisitely flavoursome dishes.
Market Segmentation
Foodies – this is a term to describe food lovers of all cultures that enjoy eating food that is prepared in a creative fashion to maintain the integrity of the ingredients. Foodies are not price conscious but they are very particular about the food that they eat. They enjoy trying out new flavour combinations, and FGT Restaurant will keep this in mind when we plan our weekly menu.
Young and hip customers – this group of our target market enjoys fresh approaches to traditional food and love to mix their eating habits with their social habits. For this reason we will also focus on creating a trendy vibe with the use of decor and live music on certain days of the weekend.
Health conscious urbanites – for many city dwellers the idea of eating out and eating healthily is almost contradictory. We will target this segment by focussing not only on organic food, but also on creating dishes that is fresh and crisp, and perfect for a quick lunch that does not leave you with that “had too much” feeling.
Market Analysis
Strategy and Implementation Summary
FGT Restaurant’s strategy will be to focus on serving a niche market with quality goods. We want to become involved in the community by helping up and coming farmers and promoting the use of organically farmed local produce. We are also considering the possibility to provide food training to school leavers with no other prospects, thereby giving back to the community that our restaurant is based in. We strongly believe in word of mouth marketing, and we will try to accomplish this by being an environmentally responsible business, but also by serving exceptional quality food.
Sales Forecast
Please insert a Sales Forecast here.
Management Summary
Andrea Larson will be the General Manager, and she will oversee the hiring of new staff as well as manage the day to day operations. Her duties will include the management of staff time tables, the hiring of musicians for the live music evenings and the printing and distribution of promotion materials as well as the design and printing of the weekly menu.
Chef Gusto will be responsible for placing food and drink orders from the suppliers, based on the menu that was created for each week, and the seasonality of ingredients. He will also manage kitchen operations and kitchen staff.
Personnel plan
For the first few months we will hire only two additional cooks to help Chef Gusto in the kitchen. As the restaurant grows in popularity, we will hire an apprentice from the local community to train with Chef Gusto in the kitchen.
For service, we plan to hire 7 full time waiters and 4 additional part time waiters over the weekends and other busy periods.
Faizel Masibekawill be the Finance Manager and her responsibilities will include the day to day payments, payroll and all other accounting functions. She will be the only employee in the finance department and will work from her home.
Financial Plan
Please refer to our Financial Plan page for more information on what the Financial Plan entails.
Break-even Analysis
Please refer to our Break Even Calculator for a formula to calculate the Break-even point.
Projected Cash Flow
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Projected Income Statement (Profit and Loss)
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Projected Balance Sheet
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