Italian Restaurant Business Plan Essay Example

Italian Restaurant Business Plan Essay Example Italian Restaurant Business Plan Essay Italian Restaurant Business Plan Essay This business plan for The Pasta House Co. – Fenton (PHC) reflects the opportunity to purchase the assets and leasehold improvements of the restaurant currently operating as  JD Drews. The current owner  is interested in selling the operations, as the store is not doing the volume he thought it would and he would like to get out of this location and the debt service he has incurred. My  goal is to submit this business plan to his bank in the event  he is unable to make loan or rent payments and defaults on the loan. We will be a position to take over the SBA loan, and with additional funds added, convert this location to a profitable Pasta House Co. franchise  restaurant. The location is only 1/4 of a mile away from Gravois Bluffs, the largest land moving project to put in a major shopping  complex  in the state of Missouri. The rent is half  the retail shops in Gravois Bluffs, yet the location offers the same  opportunity for sales. The recently completed highway 141 offers  hundreds of thousands of local residents, shoppers from outside the area, and travelers that use this new highway. With this high concentration of customers there  are no Italian restaurants in Fenton and a tremendous need for an upscale family  restaurant that offers items for both the children and adults. This turnkey operation  seats 170 customers and  is the perfect size for a PHC family operation. With the current leasehold improvements and quality kitchen equipment it would take very little to upgrade this operation to the legendary PHC winning formula. The  growth in numbers of  high income families in the Fenton area is projected at over 30%. There is a need for a family fine dining restaurant in the Fenton area. PHC would be the perfect neighborhood restaurant in the perfect neighborhood. The Pasta House Co. in Fenton will be the second location for Dennis Boldt, who  has  operated a  successful franchise unit in High Ridge, Missouri for 20 years. The Pasta House Co. based out of St. Louis,  and now has over 34 successful company and franchise locations in the United States and Mexico. PHC Fenton will have a prime location, great food, a proven concept, super franchise support, no competition, a senior management  and crew, a fantastic neighborhood arketing program, a huge catering base to build on, personalized service in a warm Italian imported grocery store atmosphere, and the support of the community resulting in a  highly profitable PHC  restaurant in Fenton. 1. 1 Mission The Pasta House Co. mission is to be a full service, family Italian restaurant offering affordable, high quality Italian cuisine inspired by authentic family recipes. Our goal is to provide our customers with an entire dining experience that exceeds  their  expectations on every visit. We do this by recommending add-on items that will enhance their dining experience. Our restaurant is clean and the quality is always high. We value the people  who work for us. Quality employees make quality food, keep the restaurant cleaner, give better service, and stay employed longer because they like working at The Pasta House Co. We have found that friendly managers hire friendly crew people and friendly crew people attract customers. 1. 2 Objectives The objective is to purchase the current assets and leasehold improvements of the JD Drews restaurant  and convert  the existing restaurant to a  profitable and successful  Pasta  House  Co. franchise unit. I plan to duplicate the successful formula  used at The Pasta House Co. , High Ridge location that I have owned and operated for over  20 years. Using the same strategies and having an in-depth management crew to back me up  will ensure outstanding results at this new fast-growing  location. My objectives are as follows: * Provide the highest quality Pasta House Co. food and service that the community has been  receiving for over  20 years at  the High Ridge location. * Create an atmosphere where each person can work as a team member,  with clear goals and high standards  that profit everyone. Combine the corporate marketing strategies with my own to build volume quickly. * First year sales to hit between $1. 5 and $2 million with 10% growth in first few years. * High Gross margins. * Maintain food  and labor costs consistent with High Ridge. * Maintain and expand  my outstanding  reputation. * Remain a neighborhood family restaurant. * Be the first fine dinin g Italian Restaurant in Fenton (the fastest growing community in Missouri). 1. 3 Keys to Success * The Pasta House Co. name and reputation is  well known  in the  St. Louis area. The food served is voted a St. Louis favorite every year. The products we serve are of the highest quality. We combine this quality with great service and atmosphere. We then add menu items that  appeal to  all ages of the family as well as single adults. * Current management staff  and crew have a great deal of experience. * Location, Location, Location! Some people have named the intersection of Hwy 30 and 141 The Golden Circle. Fenton is the fastest growing community in the entire state of Missouri! * This shopping center location is  three years old. Every spot in the center is filled and the main anchor is a Dierbergs grocery store, the highest quality grocery chain in the area. This location offers private rooms on a reservation basis. I have developed the bulk food and catering large pa rty’s concept at my other location and plan to promote it with the party rooms. * A frequent diner program  and birthday club will be available to promote repeat customers  as well as a tool to  track sales. * Management that treats every employee equally. We create an atmosphere where employees love coming to work and can earn good money. * Great employees make for a great restaurant. The Pasta House Co. in High Ridge has been very successfully  serving the High Ridge and Fenton area for 20 years. We have sponsored 25 little league ball teams, donated to thousands of events, worked with schools and churches in Fenton to better the community, catered thousands of events in the area, and hired and worked with hundreds of young people, adults, and their families. Topic 5. 3. 1, Sales Forecast shows our tremendous yearly sales growth rate over the last 20 years. This year is on track to be another record year. Our Frequent Diner Program is in place at High Ridge with over 6,000 customers who frequent the churches. This loyalty program rewards customers with a $25. 00 Gift Certificate when they spend $250. 0, as well as a Birthday and Anniversary cards to celebrate a meal with us. The program has been a huge success for the past  three years, rewarding customers  and insuring future repeat business. Ask anyone who lives in Fenton and you will find we have developed quite a reputation in the community. The Pasta House Co. was founded in 1974, and they have built it to 34 locatio ns in Missouri, Illinois,  Kentucky, Mexico, and  The Dominican Republic. The Fenton restaurant will reflect  the intimate charm of an Italian Grocery Store with framed Italian prints and Italian American pop art. Both the menu and  ambiance  will appeal to an upscale customer as well as the entire family. Below are the current PHC Company owned locations: 1. 15601 Manchester Rd. , Ellisville, MO. 63011 2. 8213 Delmar, University City, MO 63124 3. 300 Crestwood Plaza, Crestwood, MO 63126 4. 11202 West Florissant Rd. , Florissant, MO 63033 5. 280 Northwest Plaza, St. Ann, MO 63043 6. 6214 South Lindbergh, St. Louis, MO 63123 7. 14 St. Louis Galleria, Richmond Heights, MO 63117 Below are the PHC franchise owned locations: 1. 1245 East Main, Carbondale, IL. 62901 2. 1020 Lincoln Ave. , Jacksonville, IL. 2650 3. 12 Chesterfield Mall, Chesterfield, MO 63017 4. 12445 Dorsett Rd. , Maryland Heights, MO 63043 5. 6570 North Illinois St. , Fairview Heights, IL 62208 6. 180 East Center Dr. , Alton, IL 62002 7. 1623 Big Bill Road, Arnold, MO 63010 8. 9012 Gravois Rd. , St. Louis, MO 63123 9. 3985 South Service Road, St. Peters, MO 63376 10. 4517 Highway 30, High Ridge, MO 63049 11. 309 North Euclid, S t. Louis, MO 63108 12. Concourse D. 10701 Lambert Intl Airport, St. Louis, Mo 13. 700 N. Ballas Rd. , St. Louis, MO 63141 14. 2800 Southwest Plaza Drive, Springfield, IL 62704 15. 300 South 44th St. Mt. Vernon, IL 62864 16. 205 Kentucky Oaks Mall, Paducah, KY 42001 17. 4204 Highway 54, Osage Beach, MO 65065 18. 155 West Park Mall, Cape Giradeau, MO 63701 19. 931 Valley Creek Dr. , Farmington, MO 63640 20. 1100 Knipp St. , Columbia, MO 65203 21. 318 East Washington, Belleville, IL 62221 22. 4109 S. National, Springfield, MO 65804 23. Ens Naco, Santa Domingo, R. D. Dominican Republic 24. St. Louis University Campus Franchise restaurants are independent franchisees of The Pasta House Company Franchises, Inc. The above franchise restaurants are each independently owned and operated. Company Summary 2. 1 Company Ownership The existing Pasta House Co. franchise in High Ridge is owned and operated by Dennis and Janice Boldt, with Dennis acting as President. It was established in 1983 under  Delex Corporation DBA/The Pasta House Co. in Gravois Village Center, High Ridge, Missouri. The proposed Fenton  franchise would be also owned and operated  by Dennis and Janice Boldt, with Dennis acting as President and Janice as Secretary/Treasurer. The new location will operate under the name Delex Corp. (second location)DBA/ The Pasta House Co. Fenton. . 2 Start-up Summary The JD Drews facility would come with all equipment, food, liquor, leasehold improvements,  employees, and management staff. We would assume the current SBA loan of $325,000, and start-up expense of $350,000. With cash input of interest-free loans  from  three different parties  totaling $75,000, the loan balance using an SBA secured loan would be $600,000 at 9. 5% interest over a 15 year term . As assets to secure the loan we would put up Delex Corp. dba The Pasta House Co. 4517 Gravois Village Center  in High Ridge, and our home if needed. A starting bank account of $90,000 will be used, only if needed, for unexpected costs associated with the start up. Start-up equipment list would include the following items: (quality used equipment will be purchase whenever possible to control costs, and then, only if equipment is in like-new condition) 1. Twenty quart Hobart mixer 2. Steam kettle 3. Refrigerated 4 drawer system 4. Refrigerated 2 drawer system 5. Pizza box refrigerated  stand alone box 6. Dessert display case 7. Eight-burner commercial gas stove 8. Commercial Parmesan cheese grinder 9. Meat slicer 10. Flip top refrigerated 6-foot saute box 11. Stand up Freezer 12. Kitchen and dining room small wares 13. Less trade-in or  sale of  used equipment not needed in the current operations. Start-up| | | Requirements| | | | Start-up Expenses| | Expensed Items| $0 | Small wares| $3,000 | Liquor License| $400 | Crew and Manger Training at High Ridge| $10,000 | Advertising| $1,000 | Insurance Deposits| $3,000 | Other Expensed Items| $0 | Total Start-up Expenses| $17,400 | | | Start-up Assets| | Cash Required| $90,000 | Start-up Inventory| $10,000 | Other Current Assets| $10,000 | Long-term Assets| $547,600 | Total Assets| $657,600 | | | Total Requirements| $675,000 | Start-up Funding| | | Start-up Expenses to Fund| $17,400 | Start-up Assets to Fund| $657,600 | Total Funding Required| $675,000 | | | Assets | | Non-cash Assets from Start-up| $567,600 | Cash Requirements from Start-up| $90,000 | Additional Cash Raised| $0 | Cash Balance on Starting Date| $90,000 | Total Assets| $657,600 | | | | | Liabilities and Capital| | | | Liabilities| | Current Borrowing| $0 | Long-term Liabilities| $600,000 | Accounts Payable (Outstanding Bills)| $0 | Other Current Liabilities (interest-free)| $75,000 | Total Liabilities| $675,000 | | | Capital| | | | Planned Investment| | Owner| $0 | Investor| $0 | Additional Investment Requirement| $0 | Total Planned Investment| $0 | | | Loss at Start-up (Start-up Expenses)| ($17,400)| Total Capital| ($17,400)| | | | | Total Capital and Liabilities| $657,600 | | | Total Funding | $675,000 | Market Analysis Summary The Fenton area has 48 restaurants which include: * 18 Fast Food/Pizza/Sub Restaurants * 11 Sports bars/Up Scale Burger Restaurants * 2 Barbecue  Restaurants * 6 Chinese  Restaurants * 5 Banquet/Catering Operations * 4 Breakfast/Lunch  Restaurants 1 Upscale Full Service  Restaurant   (OCharles opened 2002) Source:   1998/2003 Market Statistics Estimates, Scan/US, Inc. (800)272-2687 begin_of_the_skype_highlighting  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  (800)272-2687  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  end_of_the_skype_highlighting The need for another fine dining family  restaurant  in the  Fenton   The marketing pl an is to provide a fine dining, full service, family  restaurant, where the entire family can enjoy a great meal, at  a reasonable price. The Pasta House Co. restaurant is the perfect neighborhood restaurant, where adults and children can always find their favorite dish, and receive consistent quality and great service. With the addition of the new Gravois Bluffs  shopping complex  less than 1/4 of a mile away, this addition will bring more  customers and families from all over St. Louis to shop and eat in the area. The market customers for The Pasta House Co. would develop from: * Local Neighborhood Marketing Program * Customer Frequent Diner Loyalty Program * Suggestive Selling Program to increase average check * Birthday and Anniversary marketing mailings * Market saturation and community outreach programs * PHC High Ridge successfully serving  customer in the community for over 20 years * PHC is known in St. Louis since 1974 * High shopping in the area * Tremendous growth in upper level family income 4. 1 Market Segmentation The market analysis table shows that within a three mile circle  98% are families. This is our customer base which we cater to. The  table below shows the tremendous growth of the Fenton area. Please take note the greater  increase in income levels the greater the projected growth levels. The chart shows the potential  upper income families who enjoy eating out. Market Analysis| | | Year 1| Year 2| Year 3| Year 4| Year 5| | Potential Customers| Growth| | | | | | CAGR| Population in Families| 5% | 113,793 | 119,710 | 125,935 | 132,484 | 139,373 | 5. 20% | Population in Non-families| 5% | 13,698 | 14,410 | 15,159 | 15,947 | 16,776 | 5. 20% | Population in Group Quarters| 5% | 1,348 | 1,415 | 1,486 | 1,560 | 1,638 | 4. 99% | Total| 5. 20% | 128,839 | 135,535 | 142,580 | 149,991 | 157,787 | 5. 20% | 4. 2 Target Market Segment Strategy Our focus is the upper income  level  families living and shopping  in the area. The Pasta House Co. will focus on the income level of at least $60,000 and above, and the 98% families living and shopping in the area. We focus on these specific groups because these are the types of people who frequent The Pasta House Co. They are the ones that are willing to spend their money on good dining and service at a value price. 4. 3 Service Business Analysis In the St. Louis market the competition for the upper level income business has been intense. National chains that were not here 10 years  ago have poured into  St. Louis. The  number of new restaurants has increased dramatically over the last several years and should continue to expand, all with the intent of capturing a portion of the upper level market. Below is a list of  new and expanding restaurants  in St. Louis:   * Macaroni Grill * Dave amp; Busters * Hard Rock Cafe * Hooters * Lone Star Steak House * Max amp; Ermas * Outback Steak House * Ruby Tuesday * St. Louis Bread Company * Bandana * Chevys * Fridays * OMacaroni * Olive Garden * California Pizza Kitchen * Tippins (out of business December 2002) * Chilis * Crazy Fish (Closed July 2003) * Red Robin (Opened July 2002) * The Cheese Cake Factory  (Opened November 2002) * Smoky Bones (Opened January 2003) * P. F. Changs (Opened December 2002) In the year 2002 McDonalds  no longer held the title as having  the most  locations in the United States. There are now more Subway restaurants in the U. S. than McDonalds. Many of the above restaurant chains will find the St. Louis area a  very competitive market. The restaurants that are still standing several years from now will be the ones who provided customers with the best product, at the best price and consistently exceeded their customers’ expectations. The Pasta House Co. will be a major player in St. Louis no matter what players are still  around. 4. 3. 1 Competition and Buying Patterns PHC High Ridge: Owned and Operated by Dennis Boldt for 20 years. (Sister Store to Fenton) Located only four miles away this Pasta House Co. ocation is in Jefferson County and seems to be outside the normal traffic patterns of the customers who live in the Fenton area. Increases in business have  shown a steady growth and should continue. We have found that over 90% of our customers come from west, south and east of the store. Because the store is located in Jefferson County, most c ustomers who live in Fenton  do not travel west  towards rural Jefferson County. With our Frequent Diner customer base we estimate  a loss in business from the customers who would  go to the new location would be about 5% of sales. This would be only a short lived loss as the entire area is growing at a  tremendous rate. OCharles: Opened in 2002, Located 1/4 of a mile away in the new Gravois Bluffs Shopping Center OCharles has a better location with a free standing building in the new Gravois Bluffs Shopping Center. They offer a full service fine dining family atmosphere. This national chain offers a complete menu of items, including a childrens menu. The inside of the restaurant is very nice, with fine woods and a warm atmosphere. Local community involvment is limited. They seem to market towards adults more than children. Given the choice, kids will choose Pasta House every time. Un-tested long term growth and management abilities. Red Robin: Opened in 2002, Located 1/4 of a mile away in the new Gravois Bluffs Shopping Center Red Robin is an  up-scale burger  restaurant with a big name and big look inside. It took over  two years to open this store because of franchise problems. Food items are served in  plastic baskets, this concept is more of an up-scale fast food  establishment than a fine dining concept. Limited adult menu, lots of noise, high priced drinks, no local marketing, and lack of a long-term track record in St. Louis  all limit this  restaurant  as real competition. Smoky Bones:  To Open in 2003 in the  Gravois Bluffs Shopping Center   This is a new concept restaurant and is backed by the Red Lobster  Corporation. Not a lot  is known about this  restaurant  expect they have a big name behind them and a great free standing location. Limited menu, no local marketing, and lack of a long-term track record  also limit this  restaurant as real competition. Strategy and Implementation Summary Every customer who has eaten at a Pasta House Co. is a potential customer. The better we run this Pasta House location the more business we will do. Customers will know that they can get better quality PHC food at this location. They will know that the service is better, and the people are better. The look of the new location will be fresh and clean. The area needs a fine dining family restaurant. The area needs a big name local operation with a home-grown name like The Pasta House Co. 5. 1 Competitive Edge This is what gives us the competitive edge to insure a profitable home-grown expansion: * Proven Pasta House Co. concept since 1974 * Proven track record of PHC High Ridge serving the area for over 20 years * Best home-grown training in the industry Senior PHC High Ridge  management  and crew to open with * Local marketing in all age ranges * Known costs with purchase of an turnkey restaurant * Current staff and management  from JD  Drews * Close and strong support of PHC  President and Senior Management * Strong food and supply vendors with very high quality products * On-going support from PHC Corporation 5. 2 Mark eting Strategy We at The Pasta House Co. ,  including all management,  crew personnel, supervisors, vendors, design people, family and friends,  and new hires will put forth  100%  effort to insure a profitable opening and on-going operations. A fine tuned advertising  campaign  and new store opening has been developed by The Pasta House Co. president Kim Tucci. Construction is handled by Joe Fresta who has built and opened over 31 locations. 5. 3 Sales Strategy The sales strategy is to sign up as many frequent diner customers as possible at the new location as well as High Ridge. Using the Frequent Diner Program in place a High Ridge for  three years, we plan to further cement the loyal customers in the area. We will honor  6,000 club members with  points at both locations. We plan on taking advantage of  The Pasta House Co. arket  saturation in St. Louis. We will build and expand  on that customer base by exceeding customer’s expectations. This will bring back old customers and  bring in new customers to the Fenton location. We plan on up-selling customers with our current suggestive selling program. From the hostess to the waiters and waitress our staff has successfully increased the average che ck for add-on sales from 5% of the average check three years ago to over 13%. This insures an increase in profit without having to depend on an increase in customer counts or price increases. 5. 3. Sales Forecast A sales forecast of 5. 0% increase in volume over the current High Ridge location is based on the following: * Increased visibility and known area of St. Louis. Everyone knows where Fenton is, and  few know where High Ridge  is located. * Increased   traffic flow with the intersection of Highways 141  and 30, with over double the traffic in the area. * Increased customers staying in the area to shop. Two major shopping centers compared to a 20 year old strip center. * Increased retail employee business. * 26% larger space inside, with 30% more customer  seating. Outside  seating area during the  spring through  fall seasons  increases the seating by 60% over HR. * Brand new PHC look inside. * Private rooms available, to cater private parties. * Closer to t he  eight hotels in the area. * Better location closer to St. Louis, where the action is. 5. 4 Milestones I have full confidence in all of the managers, designers, and PHC people who will make this a huge success. DENNIS BOLDT * SBA loan and Business Plan * Bank Account * Franchise Purchase * Legal and review of Lease * Equipment Purchase * Sign Purchases and install Software POS system install * Corporation set up, Insurance, Deposits, Liquor License * PHC Design Work with Joe Fresta of The Pasta House Co. * Oversee entire transformation and operations of the group VINCE LARATTA * Crew and manager hiring and training * New equipment installed * Food amp; liquor purchases delivery and stocking * Crew and manager scheduling * Maintenance and repairs * Advertising JAN BOLDT/CAROLYN FINCH AND COMPANY (team of 6 designers from Tulsa, OK) * PHC design work walls and floors design with Joe Fresta of PHC * Shelving nd displays in place * Design of dining room look * Record keeping of pur chases and budget * Permits, liquor licenses, start up requirements paperwork Joe Fresta, Vice President of the Pasta House Co. * PHC design work and construction work * Oversee display of dining room * Oversee kitchen equipment purchase and layout * Advise owner when needed Web Plan Summary The Pasta House Co. Corporation   has a website at www. pastahouse. com. In the year 2004 we plan on setting up a website for PHC High Ridge and PHC Fenton that will be linked to the corporate website. Using their format our site will include information about our local franchise units, however we plan on expanding the marketing of using a website by customers and the crew. In this age of communication more and more customers look to a website for information and assistance in purchasing products. We will be part of that great communication tool used by everyone every day. 6. 1 Website Marketing Strategy Marketing in an Internet retail business depends on recognition for expertise. It starts with our existing store front customer base, informing them of our Internet presence and encouraging their word-of-mouth recommendations to others. As linked to www. pastahouse. com  corporate website our local customer can come to our site for a more local flavor and personal assistance for their needs. We will develop and maintain a database of  our 6,000  loyalty Frequent Diner customers. From there the  website will  serve the following needs of our customer base. * Provide local information about our PHC locations to the local community * New customers can sign up for our   frequent diner/birthday programs * Customers can check their Frequent Diner points online * Catering information and contacts provided Provide references and pictures of  successful catering jobs * With a special password, crew can check their schedule on a moments notice * Purchase Gift Certificates from our stores * Purchase the new Gift Cards * Purchase retail items on line and have them shipped as gifts * Gift Basket information (Gift Baskets are sold at High Ridge and Fenton location only) * Employment information online * Company wide promotions and new store openings * Promotional coupons online * Provide new food items in the restaurant General information on other events in the area 6. 2 Development Requirements Because corporate PHC  has a website, I plan on working very closely with their Web designer. Each year the best websites are posted at www. techtv. com. Using this source will enable me to enhance our website to a simple but very effective tool to increase sales at the retail level. Development of the site will change based on our customers’ needs now and in the future as new ideas come forward for using this communication tool. Management Summary The management team to run  the day-to-day operations and shifts  at the new location will include Dennis Boldt, Vince Laratta, Denise Shaw, an additional dining room manager, and a kitchen manager, both  to be named closer to the  opening date. The High Ridge managers will include, Dennis Boldt, Janet Boxx, two new managers and a kitchen manager to be named later. People are the single most important element in our operations We value the managers and staff as the single most important element in running a quality operation; the managers need to be all on the same page of operations. We have found that friendly strong managers make friendly strong crew people. From that crew comes the next generation of managers and a quality operation. The customers can see it in the quality of the food, how clean the store is and how friendly and fast they are served. In the past 19 years we have had  eight crew people go on to become managers at other Pasta House locations and other restaurants. We also have a deep bench to select our management team from. The current  JD Drews  store  also has managers that I have been told are doing a fine job. We will consider them as manager andidates and make decisions based on the best interests of the restaurant. Below is our management game plan: FENTON MANAGEMENT STAFF DENNIS BOLDT, PRESIDENT/OWNER OPERATOR * Owner Operator of The Pasta House Co. franchise located in High Ridge since 1983 * Duties: strategic development, back-office administration, financial analysis, internal control, taxes and accounting records,  payroll,   daily operations, quality control, advertising, food costs, labor costs, liquor cost, oversee management controls, maintenance and repairs, and building the business  profits. VINCE LARATTA, GENERAL MANAGER General Manager of  The Pasta House Co. High Ridge for 15 years. Before that Vince worked as a waiter at several Pasta House locations. * Duties:  daily operations, new management development, scheduling, ordering, food, labor, and liquor controls, quality controls, maintenance/repairs,  crew training,  employment, crews hourly wages,  pay increases, and overall  store operations. DENICE SHAW, DINING ROOM MANAGER/KITCHEN MANAGER * Kitchen Manager of  The Pasta House Co. High Ridge for 4 years Denise has recently completed training, been promoted to Dining Room manager and has been running shifts for the past year. On her  fifth year as a manager Denise has a real talent for  dealing with all aspects of the business. * Duties:  daily operations, ordering, inventory, quality controls, kitchen procedures, labor and food costs controls, scheduling,  new hires,  crew moral, and overall kitchen operations. Denise will use her experience to train and oversee the new kitchen manager coming on board. HIGH RIDGE MANAGEMENT STAFF DENNIS BOLDT, OWNER OPERATOR/PRESIDENT * Dennis will work 2-3 shifts per week as the manager on duty at High Ridge until management staff can be trained and cover the shifts. JANET BOXX, GENERAL manager PHC HIGH RIDGE * Kitchen crew person, kitchen manager, Dining Room manager, and general manager for The Pasta House Co. for 13 years. Janet has done a fine job at PHC High Ridge as a manager for the past  eight years. One of Janets strengths is her ability to deal with people. Because of Janet and her people skills we have lost very few crew people to other locations. * Duties: daily operations,  scheduling, ordering, food, labor, and liquor controls, quality controls, crew training,  employment, and overall  store operations. POSSIBLE EMPLOYEES TO PROMOTE TO MANAGEMENT (not in any order) Al Fillenwarth, waiter  PHC  High Ridge 16 years. Al has  his  Masters Degree in accounting and is recognized as a leader among the crew. Ryan  Mulligan,  lead cook for High Ridge for  six years. Presently working with the State of Missouri and wants to get back into the restaurant  business as a kitchen manager. Janet  Koth, manager for  High Ridge  for  10 years is presently going to school part time and working at another restaurant. Janet was a  fine manager for me for  four years before she and her sister  opened their own kitchen in central  Missouri. Sara Armstrong, PHC High Ridge kitchen employee for  three years, Sara went on to work at several other  restaurants and is currently the kitchen manager of another restaurant. Sara has 10 years of kitchen experience and would be considered for the kitchen manager position if she is interested. Anna Minney, PHC employee for 16 years, has worked as our secretary at High Ridge for the past  five years. Anna has the respect of the crew as a manager and knows all aspects of the operation. Steve Bewig,   PHC lead cook  at High Ridge has excellent cooking skills and would make a fine kitchen manager. Bill Hobbs,  current manager JD Drews Bill has been the dining room manager for JD Drews for the past  three years and has worked with the owner for the past  seven years. Bill comes highly recommended as a manager. Ron Caputa,  dining room manager JD Drews Ron has been the dining room manager   for the past  three years and comes highly dining room from the current owner . As we get closer to opening the management personnel will firm up with the above candidates and others they may come into the picture. We will not promote a person who is not right for the position. Shifts will be covered with current candidate’s staff at both locations until the right person can be promoted. The entire candidate’s staff must act as a solid team. 7. 1 Personnel Plan Management fixed  costs at the Fenton location  is as follows: * Dennis Boldt @ $30,000 * Vince Laratta @ $60,000 * Denise Shaw @$39,000 * Dining Room Manager @ $32,000 * Kitchen Manager @ $25,000 * Total  Management Costs   $186,000 Management Team at High Ridge * Dennis Boldt * Janet Boxx * Dining Room Manager * Dining Room Manager * Kitchen Manager Kitchen labor at both locations would be  11. 3% of sales. Dining Room  labor at both locations would be  6. 1% of sales. Payroll taxes  10% of sales. Financial Plan 1. Growth will be moderate, cash flows steady. 2. Sales increase at a steady rate of 4% per year. 3. Costs will increase at a rate of 1% to 2% per year. 4. The company will invest residual profits into financial markets and not company expansion (unless absolutely necessary). 5. General maintenance and repairs will be kept up to maintain a solid operation. 6. Future cash investments will use NPV projections to achieve maximum return with limited risk. 8. 1 Important Assumptions The financial plan depends on important assumptions, most of which are shown in the following table as annual figures. The key underlying assumptions are: * We assume JD Drews will be unable to make their note payment or lease payment and will have to default on their loans. * We assume that we will  take over the  SBA note payment and acquire all of the assets and leasehold improvements. * We assume the equipment is in good working order. * We assume this will happen in the next  three to six months. * We assume a slow-growth economy, without major recession. * We assume that there are no unforeseen changes in the expectancy in the popularity of our candidates. We assume access to  loans and financing are sufficient to maintain and fulfill our financial plan as shown in the tables. * We assume the landlord will have no problem allowing us to take over the current  lease. * We assume The Pasta House Co. will approve our leasehold improvements and budget. 8. 2 Projected Profit and Loss The most important assumption in the Projected Profit and Loss statement is the gross margin. Although it d oesnt jump drastically in the first year, over time the restaurant will develop its customer base and reputation and the growth will pick up more rapidly towards the fourth and fifth years of business. Month-by-month assumptions for profit and loss are included in the appendix. 8. 3 Projected Cash Flow The cash flow depends on assumptions for inventory turnover, payment days, and accounts receivable management. Our projected same-day collections are critical, and are reasonable and customary in the restaurant industry. We do not expect to need significant additional support even when we reach the less profitable months, as they are expected. The  first  six months of PHC openings have shown huge sales volumes. We expect this volume; however our projections do not reflect  this high volume. We have done this in the event there are normal sales  during the first  six months. 8. 4 Projected Balance Sheet The projected Balance Sheet is quite solid. We do not anticipate difficulty meeting our debt obligations providing that we achieve our specific goals. 8. 5 Business Ratios We expect our net profit margin, and gross margin to increase steadily over the three-years. Our net working capital will increase by year three, proving that we have the cash flows to remain a going concern. The following table shows these important financial ratios. Industry profile ratios based

Without Let

Without Let Without Let Without Let By Maeve Maddox A reader coming across this sentence in Arthur Miller’s An Air-conditioned Nightmare (1945) was puzzled by the use of the word let: Night  and day  without let  the radio drowns us in a hog-wash of the most nauseating, sentimental ditties. Asks the reader, â€Å"Could this be a typo for â€Å"without let-up†? The English word let functions as a verb, a noun, and an adjective. Its use as a noun meaning hindrance or obstacle dates to the twelfth century. An obsolete meaning of let as a verb is â€Å"hinder or prevent.† This is the meaning of let in the King James translation of Romans 1:13: Now I would not have you ignorant, brethren, that oftentimes I purposed to come unto you, (but was let hitherto). Paul is saying that he wanted to come but was prevented from doing so. In the Miller quotation, let is a noun, the object of the preposition without. In this context let means, hindrance, stoppage, or obstruction. The â€Å"ditties† described are unceasing. They come over the radio without stopping. Miller could have written, â€Å"Night  and day  without let-up  the radio drowns us in a hog-wash of the most nauseating, sentimental ditties.† The thought would be the same, but the connotation would be different. Miller’s intention is to distance himself from what he perceives as mind-numbing and vulgar noise. His feeling about the music is reflected in his choice of words. The word let-up belongs to the same register of language as hogwash and ditties. The more formal let sets the writer on a higher plane. For many modern speakers, the only familiar use of let as a noun occurs in the phrase â€Å"without let or hindrance,† as in Article 22 of the Actors’ Equity Association rule book (2011-2015): It is agreed that deputies may be designated by Equity without let or hindrance. The phrase is a fossilized doublet (two words that mean the same thing) common in legal writing, as in these examples: Her Britannic Majestys Secretary of State requests and requires in the name of Her Majesty all those whom it may concern to allow the bearer to pass freely without let or hindrance and to afford the bearer such assistance and protection as may be necessary.- British passport. Henceforth the Vendor shall not have any right, title or interest in the Scheduled Apartment which shall be enjoyed absolutely by the Buyer without any let or hindrance from the Vendor or anyone claiming through them.- Generic sale form available by download. Miller was not alone among twentieth-century writers who used let in the sense of hindrance: They beat us to surrender weak with fright, And tugging and tearing without let or pause.- â€Å"Birds of Prey.† Claude McKay. Now that he knew himself to be self he was free to grok ever closer to his brothers, merge without let. - Stranger in a Strange Land. Robert A. Heinlein. Note: Heinlein coined the word grok. In this context it means, â€Å"to empathize or communicate sympathetically with.† The word is used by modern computer programmers with the meaning â€Å"to understand deeply†: Some people think design means how it looks. But of course, if you dig deeper, it’s really how it works. The design of the Mac wasn’t what it looked like, although that was part of it. Primarily, it was how it worked. To design something really well, you have to get it. You have to really grok what it’s all about.- Steve Jobs, Wired interview, 1996. Spelling advisory: The word hindrance is frequently misspelled as â€Å"hinderance, â€Å"hindrence,† and â€Å"hinderence.† The verb is hinder. The noun is hindrance. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:Arrive To vs. Arrive At10 Techniques for More Precise Writing15 English Words of Indian Origin