The total annual US consumption, is a significant market and worth noting because 1 percent of consumable product comes from Alabama gulf coasts. In Enterprise there is an opportunity for a monopoly as a relaxed, customer friendly, healthy seafood restaurant. The United States Department of agriculture stated that “Even though past surveys have indicated that fish and shellfish are selected primarily for health reasons, both surveys showed that the predominate reason for selecting fish products was because the customer enjoyed eating fish and liked the taste. This fact emphasizes the need for fresh healthy product, backed by excellent quality of taste. The area is in need of a warm and friendly place with excellent food. A place where you always know you will get the best of everything. Just-A-Shore Away Lounge & Restaurant will feature a cozy dining room and an relaxed lounge. Comfortable furnishings and decor with calming blue warm tones. The lounge has comfy couches and antique love seats with a softly lit bar. It will be the perfect place to stop in for a bite to eat, for a drink or for a small business meeting.
For extra comfort and to please a large group of people I will make up special hors d’ oeuvre platters for customers. The service will be relaxed, very friendly and correct. I will hire the best people available. Training, motivating and encourage them to be the friendliest most precise staff member possible. The menu will be inspired from different countries’ and appeal to a various clients. You can order a red curry trout with basmati rice, an Asian grilled shrimp with spinach, sushi/tofu with a black bean sauce dish.
I will also have a special seafood pasta dish entree every day plus the ‘all American meal’ such as catfish, hushpuppies, coleslaw, and fries. Adding value will be an interesting business lunch menu with specialties every day. The menu will change every 6-8 months but keep the favorites. Prices will be competitive with other two establishments in the area. However, it is the strategy of Just-A-Shore Away Lounge & Restaurant to give a perception of higher value than its competitors, through its food, service and entertainment.
The lounge and restaurant will be open seven days a week. I will offer special theme nights to attract new customers to Just-A-Shore Away. The restaurant will be fine dining in a cozy atmosphere. Warm colors, fresh flowers, soft music, soft lighting and amazing local talent performances. This will contribute to a sense of community and give new artists a chance to show their work. During the busy summer months you can also sit outside on my patio and I will offer a special summer menu, featuring lighter fare, exotic drinks, as Ill as non-alcoholic offerings.
Most important to us is my financial success and I believe this will be achieved by offering high-quality service and excellent healthy food with an interesting twist. I have created financial projections based on my experience and knowledge of the area. With a start-up expenditure of $98,000 I can generate $770,000 in sales by the end of year three, and produce good net profits by the end of year three. I will be using my Veterans Administration small business loan guarantee program for $400,000 with a 8% interest rate. I am investing $40,000 of my own capital and seeking to raise an additional $58,000 from investors.
My preferred instrument will be Common Stock and Short-term line of credit so I can pay as I go, or borrow as it is needed. The rate of 18% for the first three years and 9. 99% for the remaining years. At the end of three years I shouldn’t have a need for short-term line of credit or common Stock. Due to the fact of how high my net profits are. My investor philosophy is conservative. Since restaurant start-ups are so speculative my belief and commitment to my investors will be to pay a generous, expected rate of return while not hindering my operational cash flow.