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QuickPlan® Industry Specific Business Plan Software 800-417-7017 |
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(Includes Hard Copy, CD-ROM and Immediate Download) Based upon an Express Chicken Wings Quick Service counter restaurant featuring approximately 1150 square feet, this plan is designed to edit easily to cover any variations in the creation of your express chicken wing restaurant even covers additional Beer and Wine service and or full liquor Bar.
The Industry
Restaurant industry sales are expected to reach a record $604 billion and post positive growth in 2011 after a three-year period of negative real sales growth, according to National Restaurant Association. The Association’s 2011 Restaurant Industry Forecast projects an industry sales increase of 3.6 percent over 2010 sales, which equals 1.1 percent in real (inflation-adjusted) terms. The Industry is tied directly to the health of the U.S. Economy and consumer disposable income. The CBO anticipates that the current recession, which started in December 2007, ended in the second quarter of 2009, making it the longest recession since World War II. . U.S. economic growth during 2010 came in at a 2.9% rate after inflation, the strongest performance of the past five years. Such growth compares to a 2.6% real rate of decline during 2009, the depths of the recession. The swing in performance from 2009 to 2010 was the widest since 1983, a period of 27 years. The increase in real GDP in 2010 primarily reflected positive contributions from private inventory investment, exports, personal consumption expenditures (PCE), nonresidential fixed investment, and federal government spending. Severe economic downturns often sow the seeds of robust recoveries. During a slump in economic activity, consumers defer purchases, especially for housing and durable goods, and businesses postpone capital spending and try to cut inventories. Once demand in the economy picks up, the disparity between the desired and actual stocks of capital assets and consumer durable goods widens quickly, and spending by consumers and businesses can accelerate rapidly. Although the CBO expects that the current recovery will be spurred by that dynamic, in all likelihood, the recovery will also be dampened by a number of factors. Those factors include slow wage and employment growth, high unemployment as well as a continued sluggish housing market.Current expectations by the CBO are for GDP growth of 3.1% in 2011 falling off to 2.8 percent in 2012. This current forecast reflects the CBO’s expectation of continued strong growth in business investment, improvements in residential investment, net exports, and modest increases in consumer spending.
Source: Congressional Budget Office Economic Projections and revisions.
Source: Congressional Budget Office Economic Projections and revisions. The continued rebound in GDP will also affect real disposable income growth. Real DPI increased 1.4 percent in 2010, compared with an increase of 0.6 percent in 2009. Even though economic activity began to increase again during the second half of 2009, the unemployment rate continued to rise, finishing the year at 10.0 percent. Hiring usually lags behind output during the initial stages of a recovery because firms tend to increase output first by boosting productivity and by raising the number of hours that existing employees work; adding employees tends to occur later. As the recovery continues, the economy will add roughly 2.5 million jobs per year over the 2011–2016 period, CBO estimates. However, even with significant increases in the number of jobs, a substantial reduction in the unemployment rate will take some time. CBO projects that the unemployment rate will gradually fall in the near term, to 9.2 percent in the fourth quarter of 2011, 8.2 percent in the fourth quarter of 2012, and 7.4 percent at the end of 2013. Only by 2016, in CBO’s forecast, does it reach 5.3 percent, close to the agency’s estimate of the natural rate of unemployment. Current inflation expectations barring any major Geo Political factors are for inflation to remain low throughout 2011. One primary measure of inflation, and a favorite of the Federal Reserve, is the personal consumption expenditures (PCE) index. This measure of consumer inflation rose at a 1.8% annual rate during the fourth quarter of 2010, reflecting the recent rise in food and gasoline prices. The core PCE, which excludes food and energy costs, rose at only a 0.4% annual rate, the smallest rise on record. Such a modest increase gives the Federal Reserve more “cover” to maintain its key interest rate at essentially zero for most, if not all, of 2011. With less uncertainty by businesses and investors as to tax policy this year and next and with rising expectations that split government in Washington will slow the explosion in government spending the economy looks poised for sustained growth as businesses and investors get back to the business of growing and expanding the bottom line. Chicken Wings Segment
(Source: Buffalo Wild Wings and 2010, 2011 analyst estimates.) Sports Bars will probably continue to lead the way in this segment again in 2011. A shining star and a solid barometer for a well run Sports Bar operator in the toughest recession since the Great depression is Buffalo Wild Wings. Buffalo Wild Wings, Inc., together with its subsidiaries, engages in the ownership, operation, and franchising of restaurants in the United States. The company provides quick casual and casual dining service, as well as serves bottled beers, wines, and liquor. As of May 2011 there are 753 Buffalo Wild Wings locations across 45 states. The company was founded in 1982 and is headquartered in Minneapolis, Minnesota. The Company has performed amazingly in this economic environment because of the perceived value proposition that the company provides. You get a reasonably priced meal, a festive atmosphere where you can watch the Super Bowl, May Madness and other sporting events, and a good return on your investment of both time and money. Their key demographic is men 18 to 40, which tend to be less sensitive to wealth-effect issues and, since their target is so specific, they only have to advertise on a few channels, such as ESPN, CBS and FOX, during sporting events. From a customer perspective, a night out at a Buffalo Wild Wings restaurant is pretty cheap: The average check is about $12. And, they encourage you to stay for the entire game. For operators just getting started this may be the best time within the business cycle to plan and open your new facility understanding that with interest rates still at all time low levels and marginal operators going out of business you will have accounted for the marginal efficiencies necessary to not only survive against the competition but to thrive as we cycle once again into economic expansion. Starting a small business is always risky, and the chance of success is slim. According to the U.S. Small Business Administration, over 50% of small businesses fail in the first year and 95% fail within the first five years. Whether you are starting a new restaurant are looking to raise additional capital to expand your currently profitable Restaurant, or looking to evaluate and value your Restaurant to sell, current statistics prove that you will do much better with a business plan than without. According to Dunn and Bradstreet the primary reasons for failure vary, but all of the reasons come under the category of poor planning. You are a part of the second largest Industry in the United States representing 4% of the U.S. Gross National Product in the most competitive Industry in the world. Your management decisions will decide whether your Restaurant survives or thrives in the face of increased competition. The most important benefit of a business plan is that it sets the stage for the future of your Restaurant as you want it to be positioned in the marketplace. A business plan will make it easy for your banker to take action as he/she gains insight into the details of your restaurant and the goals that you have outlined. Potential investors can review your plan and decide whether or not to make an investment based upon the risk. You will benefit most as you study and gain detailed insight into your own operations. Updating and constantly reviewing your plan will give you more insight as both a manager and decision maker. TIME IS
MONEY...We
have estimated that it takes an average of 100 hours to research,
and write a comprehensive business plan within any Industry.
Creating and compiling the five year financial plan and forecasts
including 5 years of budgets, income statements, balance sheets,
cash flow analysis, and key financial ratio analysis can take more
than 20 hours of work by you or your accountant. Now consider
sitting down in front of your computer to edit and fill in the
details of an already written and organized sample restaurant
business plan and outline. Whether you are starting a fine dining,
full service or fast food restaurant, are looking for expansion
capital to open your second restaurant, or want to sell your multi
restaurant chain, you will be able to edit this plan into your own.
Five Year "Big Picture" Forecast Matrix (Spreadsheet File); type in your assumptions and all of the following statements are immediately calculated....42 pages; Years 1-5 Operating Budgets Years 1-5 Income Statements Years 1-5 Balance Sheets Years 1-5 Cash Flow Analysis Financial Ratio Analysis Years 1-5 Break Even Analysis Years 1-5 Summary Statements Average Operating Percentages Comparison/ Your Numbers vs the current Industry figures. Auto Generated Use of Proceeds Statement Review Financials Workbook, (note demo operation zeroed out) The assumption section asks for over 615 lines of assumptions, (easy to use, assumptions that don't apply to your operation just plug in a 0), including operating expense line items, balance sheet, working capital, and financing assumptions, the matrix even includes two financial calculators built in to give you copies of the amortization schedules for your financing assumptions: Hospitality Resources on the Internet over 350 html links.. (html file) to all of the following categories on the Internet, (already in html, just point and click)...Associations, Beverage Resources, Culinary, Free Newsletters, Government, Management resources, POS Vendors, Publications, Recipes, Recruiters, Restaurants and Chains, Restaurant Directories, Schools and Universities, Suppliers, and Technology. Created by Chuck Gohen of Restaurant Associates Northwest of Portland Oregon. Starting with the, "before you sit down checklist , you will gather your information together to edit on your word processor, (Macintosh, Windows, DOS, etc...) that information which does or does not apply to your restaurant or organization....from your average ticket and menu, to inventory, taxes, and staffing. Fill in the details to make this your own comprehensive business plan. Pull up the Five Year Financial Forecaster Spreadsheet and insert your average ticket price, number of seats, seat turnover, cost of goods sold, and operating expenses, and now study your first year cash flow analysis to answer the question of how much money you are going to need. All five years of financial statements are calculated and ready for printing and insertion into your plan. Once finished , print up your plan and simply place it into the three ring binder indexing it according to the pre-labeled index, included. System
Requirements Order Now Call 1-800-417-7017
Order Complete Package Online $ 195 Order Download Only Online $ 145
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