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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 $580.1 billion in 2010, with the Industry employing almost 12.7 million individuals in 945,000 restaurant and Food Service Outlets nationwide, according to the National Restaurant Association's 2010 Restaurant Industry Forecast . The Forecast projects that while overall restaurant industry sales will increase in current dollars by 2.5% over 2009 figures, the numbers translate to an inflation adjusted decline of just 1/10th of 1 percent. Despite the economic downturn, the Industry will remain a cornerstone of the economy, representing 4% of the U.S. Gross domestic Product and employing 9% of the U.S. workforce. Restaurants will continue to adapt to the latest menu trends and consumer preferences. 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, will have lasted until the second half of 2009, making it the longest recession since World War II they anticipate that real GDP will have dropped by 2.2 percent in calendar year 2009, a steep decline. 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 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 the continuing fragility of some financial markets and institutions; declining support from fiscal policy as the effects of ARRA wane and tax rates increase because of the scheduled expiration of key tax provisions; and slow wage and employment growth, as well as a large excess of vacant houses.
Source: Congressional Budget Office Economic Projections and revisions. In CBO’s forecast, real GDP increases by 2.1 percent between the fourth quarter of 2009 and the fourth quarter of 2010 and by 2.4 percent in 2011. Given CBO’s estimate of growth in potential output, those GDP growth rates will narrow the difference between actual output and potential output (the output gap) only slightly. Growth of real GDP will accelerate after 2011, spurred by stronger business investment and residential construction.
Source: Congressional Budget Office Economic Projections and revisions. The rebound in GDP and will also affect real disposable income growth which is expected to grow by 1.2% in 2010 after .50% growth in 2009. For 2012 through 2014, CBO projects that real GDP will increase by an average of 4.4 percent per year, which would close the output gap completely by the end of 2014. 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. CBO expects that the unemployment rate will average slightly above 10 percent in the first half of 2010 and then turn downward in the second half of the year. As the economy expands further, the rate of unemployment is projected to continue declining until, in 2016, it reaches 5 percent, which is equal to CBO’s estimate of the rate of unemployment consistent with the usual rate of job turnover in U.S. labor markets. Reflecting the large amount of slack in the economy, inflation will decrease further from its already low level in 2009, CBO forecasts. The core price index for personal consumption expenditures (that is, the PCE price index excluding the prices of food and energy) will rise by about 1 percent (on a fourth-quarter-to-fourth-quarter basis) in 2010 and by 0.9 percent in 2011. The overall PCE price index will rise by 1.4 percent in 2010 and 1.1 percent in 2011. 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 2010.. 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 December 27, 2009, they owned and operated 232 and franchised an additional 420 Buffalo Wild Wings Grill & Bar restaurants in 42 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, April Madness and other sporting events, and a good return on your investment of both time and money. In the first quarter of 2009 earnings shot up 30% in an environment where many facilities were closing their doors. or the year, Buffalo Wild Wings reported a profit of $30.7 million. That’s up from earnings of $24.4 million in 2008.Total revenue surged 27.6 percent to $538.9 million for the year. Restaurant sales increased 28.7 percent to $488.7 million, while franchise fees and royalties grew 17.5 percent to $50.2 million. Sports and alcohol may not be completely recession-proof, but they do seem to be recession-resistant. Plus, 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. That fits in with any recession budget. Growth targets for 2010 are 13 to 15% unit growth and 20% net earnings growth. 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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