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Research paper topic: Fantasy Rock Business Report - 1573 words
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.. he store. Radio is most effective, followed by local print media. The local stations that we are currently at placing advertisements on are of the most popular between college students, and more stations including music that a family would listen to. The stations that apply to college students are Power 92.3, 93.3, 104.7, and 106.3. All these radio station have a pretty cheap rate for airtime.
A simple advertisement placement cost about $0.98 a minute. To reach our families and business customers we will have advertisements on Cool 94.5. They charge a rate of $0.78 a minute. These prices are well reachable for our small business as advertisements. All these station play a variety of Rock and alternative music. Local area print is very inexpensive and due to well placement directly is viewed by our target market. A local company called Print Technologies does lots of local print media.
They create a flyer and have you pick what you want to include. It makes it look a lot more professional. They also have areas mapped out and deliver the flyers to local parking lots, college campus, and door to door. They charge fees according to the range of area and which type of print media you prefer. Print media is the best way to reach our local markets, while maintaining low costs. PRICING STRATEGY All menu items are moderately priced.
An average single customer ticket will be between $10 and $20 including food and a drink. Tickets are considerably larger for weekend's sales and special event sales included by the promotion strategy. Our average customer spends more than the industry average for moderately priced establishments. We tend to believe that this is due to our creating an atmosphere that encourages longer stays and more spending but still allows adequate table turns due to extended hours of appeal. Our Customers should feel like they can stay and relax, while listening to good music. PROMOTION STRATEGY We promote rock music, sports, and more rock music.
The universal appeal of music has never been higher. A high growth area such as Phoenix has a annual influx of new residents from many other parts of the country including California, Colorado, and all of the Sunbelt region. This trend is true to the whole Sunbelt region when we decided to grow and expand our facilities. Many new residents and many existing ones are everyday listeners of rock music; they also tend to watch sports. Fantasy ROCK is a place that provides these utilities.
Each patron can watch his or her favorite music video playing, or catch a sports game score on another television. The enabling technology is the benchmark for Fantasy ROCK Advertising budgets and sports event promotion is an on-going process of management geared to promote the brand name and keep Fantasy ROCK at the forefront of the music theme establishments in each local marketing area. MARKETING PROGRAMS Fantasy ROCK will create a "identity" oriented marketing strategy with executions particularly in local media. Radio stations, print ads, and in-store promotions are ways that the store will gain a bigger customer base which will later allow us to expand and then duplicate the same adds for the new store. SALES STRATEGY The sales strategy is to build our current location up to a gross income from $3 to $5 million in sales. Once this is done we will take the profits of the store and add another store in a new location. The controls, and management would all stay the same.
A few music changes and local area market surveys will produce what that local area market will want. Once our store reaches a $3.5 million mark is will be considered mature. This will indicate the proper time is to expand. SALES FORECAST The following chart shows the rapid sales increase for our location in only its first twelve months of operation. The two million dollar sales volume represents somewhat less than 50% of the revenue potential of the location.
All sales forecasts and projections have the first year as their basis. The numbers were gained through a quantitative method of looking at sales of similar restaurants. Hard Rock Cafe, Chilies, and Five Star Sports Bar are the main companies looked at for sales projections. Sales 2000 2001 2002 Food $1,026,242 $2,411,500 $4,497,000 Drinks $998,276 $2,238,500 $4,203,000 Retail $8,126 $9,045 $9,589 TOTAL SALES $2,032,644 $4,659,045 $8,709,589 Direct Cost of Sales 2000 2001 2002 Food $329,013 $1,449,910 $2,548,980 Drinks $219,561 $932,470 $1,584,660 Retail $9,064 $9,064 $9,064 TOTAL COST $557,638 $2,391,444 $4,142,704 MANAGEMENT SUMMARY An operational manager will need to be hired. They will have to have much experience and very qualified. Local job placement programs and such can be scanned for such a person. Other key personnel are the management of each organizational break down.
These include finances and marketing. Michael McKee will lead the finances and Neal Schroeder will lead the marketing department. There is not expected to be any shortage of qualified and available staff and management from local labor pools in each market area. Organizational Chart ORGANIZATIONAL STRUCTURE The organizational structure of Fantasy ROCK is a great system to keep quality control and a uniform structure once Fantasy ROCK decides to expand. Each store is broken up into three main departments.
An operations department, which will be lead by our hired manager, a financial department led by Michael McKee, and a marketing department lead by Neal Schroeder. Operations will include all the in-store activities. The manager will be required to keep quality control at its best. He/She will be in direct contact with all employees and in charge of their proper training so they can help with any problem. He/She will make sure costs are kept low and food is not being stolen or wasted.
Finances will include all the balancing of accounts, payment of bills and salaries; he will also be in charge of taxation and loan financing. In order for money to be approved to be used for certain items it must go through Michael McKee. He will be in charge of looking where the money is going and where it needs to be controlled. He will work with the operations manager to gain back control of problem areas. He will watch and make sure all our sales percentages and labor costs are not rising above our pre-set quality controls.
Money management is very important to our business. If we can control our money flow, then we can then bring in a greater profit and know where to place the profits to improve the company. The marketing department lead by Neal Schroeder will include all the sales promotions. He will work one-on-one with the financial manager to see what profits and what money we have free to use on marketing. It will be his job to use the money in the best possible manor.
We want to have the best marketing strategy for the money we have set aside for promotions. The marketing manager can also work with the operations manager to see what items are not selling and what items need a promotion in order to get them moved out of the store. LABOR COSTS Salaries Our salaries will be mostly low income when our business first opens, but will have definite potential for increase. As in most food services, tips will play a major factor in our employee's income. The head cook/waiters will earn the most (below the management staff), do to their responsibilities of training new employees, and overseeing others, while they attend to their own responsibilities. Most of our jobs, with the exception of trainers and cooks, will require little or no previous experience.
Initially, our company will make enough money to pay low salaries, but once we have covered our start up costs, higher pay, and more benefits will be offered. Waiter/Waitress $3.00+/hr + tips 16k-20k/yr Bartender $8.75+/hr 20k-24k/yr Host/Hostess $6.25+/hr 18k-22k/yr Trainer/Head $12.25+/hr 32k-36k/hr Cook $9.75/hr 30k-34k/yr Operations MGR TBD 36k-38k/yr Benefits The only benefit currently planned would be an overtime pay increase. Other possible benefits in the future might include bonuses, paid vacations, and possible profit sharing. Holidays We will be open on most holidays, especially those when our business can generate more profit (i.e. Labor Day, New Year's Day).
On such days however, we may have limited hours, and our employees will be notified well in advance, so that any schedule changes can be made. We may also have to offer increased pay at such times as Christmas and New Year's. Realistic Cash Flow for Fantasy ROCK Optimistic Cash Flow for Fantasy ROCK Pessimistic Cash Flow for Fantasy ROCK BILL OF MATERIALS Food Item Quantity Cost Lettuce Four 5lb heads $6.89 Hamburger 20lbs $23.45 Ham 20lbs $25.68 Turkey 20lbs $31.98 Roast Beef 20lbs $28.78 Ground Beef 20lbs $22.66 Sausage 15lbs $38.98 Hot dogs 144 packages $12.89 Tomatoes 48 per box $26.89 Pickles 5 gallon drum $4.50 Onions Large Box 8x10 $8.90 Green Peppers Large Box 8x10 $8.67 Spices 2 lbs $3.98 Marinara Six 1 gallon containers $18.76 Soups 3 soups $40.89 Tortilla chips Large bag (approx 1,500 chips) $12.45 Ketchup 48 36 oz squeezers $17.89 Mustard 48 12oz jars $32.56 Steak Sauce 36 36oz bottles $23.89 Guacamole 10lbs $35.86 Beans 50lbs drum $12.87 Olives 10 gallons $13.76 Flour Tortillas 176 approx. $5.68 Eggs Six dozen $13.45 Ice cream 20lbs $20.76 Pie filling 16 12 oz cans $27.99 Pie Crust 144 crusts $32.45 Hamburger buns 144 buns $32.87 Hot dog buns 144 buns $32.98 Pizza dough 40-50lbs dough $22.99 Coca-cola 8 gallon box $12.45 Dr. Pepper 8 gallon box $12.45 Sprite 8 gallon box $12.45 Iced tea 8 gallon box $12.45 Mug Root beer 8 gallon box $12.45 Malt 4 lb box powder $8.65 Chocolate syrup 2 gallons $3.65 Cheddar Cheese 80lbs $56.98 Mozzarella Cheese 80lbs $58.90 Parmesan Cheese 20lbs $28.67 Dressings 5,000 assorted $22.45 Fresh Bread 6 loaves $3.75 Macaroni Salad 2 gallons $27.65 Potato Salad 2 gallons $12.87 Pepperioncinis 5 gallon drum $25.67 Salami 20lbs $22.98 Pepperoni 20lbs $19.87 Garlic 1 lbs $2.89 Butter Large tub $5.67 Computers Essays.
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