Fantasy Rock – Business Report EXECUTIVE SUMMARY Fantasy ROCK will be a small business that provides entertainment and leisure activities. We will sell a variety of foods and beverages. Our menu will contain many dishes. A large appetizer section, Steaks, Chicken, sandwiches, hamburgers, soups and salads will be our specialty. We will sell several types of beer on tap and in bottles. A few micro brews such as Fat Tire Ale, and Honey Brown larger will be kept on tap, as well as the cheaper larger brands such as Budweiser and Coors. Several large screen TV’s will be placed through out the cafe’.
They will be playing an assortment of things. Our main TV’s will be playing rock videos that go along to the music we are playing. Others will provide sports coverage of big games going on. The intent of the big screens is so that as our customer sits we allow giving them something to look at. We want to provide them with entertainment. Rock music has an effect to energize and lift a person’s spirits.
We want customers to enjoy themselves. A sound system will be installed to heighten our music listening. Fantasy ROCK wants to provide high quality sound yet minimizes costs. Purchasing a surround sound system by Bose speakers systems can do this. Fantasy ROCK has great potential to expand. Our biggest competitor is Hard Rock Caf. How we plan to differentiate ourselves is we want to provide a more of a local business atmosphere.
We want our employees to get to know our customers and welcome them by name as they walk in. The market in which we are entering is wide open. All restaurants are competition to us yet because of our atmosphere in providing entertainment and leisure we become unique. Currently Fantasy ROCK has no expansion plans. As profits come in and our business base grows future planning will be done.
MISSION STATEMENT Fantasy ROCK strives to be the premier rock music restaurant in Phoenix. Our goal is to be a step ahead of the competition. We want our customers to have more fun during their leisure time. We provide more television with ROCK videos and sports coverage than anywhere else in the Phoenix area. We provide a state-of-the-art Bose sounds system to deliver the highest quality sounds possible.
We Combine menu selection, atmosphere, ambiance, and service to create a sense of “place” in order to reach our goal of over-all value in dining and the entertainment experience. OBJECTIVES Fantasy ROCK has the objective of staying as a single store until sufficient funds have been created to open another store. The placement of the store is vital to becoming a success. The layout of the restaurant must be very pleasing to the eye and allows a sense of openness and visual ability to view several TV screens. The management of Fantasy ROCK will demonstrated its concepts, execution, marketability, and controls, and feels confident of it’s ability to replicate the restaurant once we choose to open a new store.
The following objectives have been established: Have a single store operational by the year 2000 with a sequential time-line. Maintain high control of costs and operations be hiring quality management that will utilize computer records and data tracking. Keep food cost less than 32% of revenue. Keep beverage cost under 21% of revenue. Select only a location that meets all the parameters of success. Grow our single location to the $3 to $5 million annual sales level.
Keep labor costs under 23% of revenue. KEYS TO SUCCESS The keys to success in achieving our goals are: Product quality. Not just great tasting food but great service. Managing finances to enable better advertisement and growth of our customer base. Controlling costs at all times without exception. Instituting management controls to insure replicability of operations once we decide to expand. This applies to product control and to financial control.
COMPANY SUMMARY Rock and sports based themes – The Company will focus on themes that have mass appeal. This will include song selection, and sports game coverage. Many polls and surveys will be taken to gain a good basis of what music people want to hear. A simple comment card on every table will allow customers to place in song titles they want to hear during their stay. Distinctive design features – All locations will be characterized by spectacular visual design and layout.
Each store will display a collection of sports and rock memorabilia. This may include guitars, sports figures, record albums, and billboard music listings, anything that appeals to the masses. High profile location – It is our main goal to pick and maintain a high profile location in the area of Phoenix. The location must contain key demographics, including traffic counts, average income to upper class income, and number of household, hotels, and offices within a 3-mile radius. We want to create a well-centered location that will allow us to gain a very large customer base.
Celebrity events – Fantasy ROCK will be distinguished by promotional activities such as sports events, and music events on local stations. Low costs are always needed in promotion costs and local marketing is a key. ASU, businesses, homes, and parking lots will be area of distributing of flyers and promotion material. Retail merchandising – Each store will include an integrated retail store offering premium quality merchandise displaying the company’s logo design. In addition sports and rock music memorabilia will be sold. Quality food – Fantasy ROCK will serve freshly prepared, high quality popular cuisine that is targeted to appeal to a variety of tastes and budgets with an emphasis on reasonably and moderately priced signature items particular appeal to the local market. Quality service – In order to maintain our unique image we want to have extensive training programs and hiring techniques in order to provide our customers with the best service possible.
Management will be constantly helping our staff with new techniques and watching to control old ones to make sure each time a customer walks in they feel at home, welcomed, and liberated from any outsides stresses. We want to provide a place of leisure and entertainment. COMPANY OWNERSHIP Fantasy ROCK will be a Sub Chapter S-corporation. Two owners will hold 50% ownership each in the company. This will allow a limited liability for investors. There is a great continuity in a corporation.
This will allow the life of our business to continue and grow. Lenders will be more willing to lend money to a corporation due to the continuity and legal protections. In a S- corporation all earnings go straight to the owners, this allows the money to be only taxed once producing higher profits to investors. Due to high legal content in a corporation a full time lawyer will be paid to help with these matters. Fantasy ROCK will be a company that can continue way into the future and has high potential for producing a profit.
Fantasy ROCK’S goal to make a high quality product along with high quality service will allow it to expand and grow. Fantasy ROCK is all about our customers and put them first. COMPANY LOCATION AND FACILITIES The company unit will range in size from 6000 to 9000 square feet and will seat from 225 to 400 persons. Fantasy ROCK will feature authentic rock memorabilia from the Beetles signature record to a Billboard rating list. The store will be equipped with state-of-the-art audio and video systems to enable the customer to view a rock video or sports game from where ever they sit.
The sound must be of high quality. The volume will be adjusted to were customers can hear the music and it flows through them yet isn’t too loud as you muffle normal conversations. Great control of the volume will be kept in track. The Building will be renovated to look, clean, open, and pleasing to the customer. Unit Location will be as the follows: Downtown Phoenix– This unit is located at one of the busiest intersections in Phoenix.
The placement is the exact middle of Phoenix being at Central Ave. and McDowell. Four major nightclubs surround it. These are Cajun House, Impressions, Night Live, and Dance Mixalot. The area is a upper middle class neighborhood, with plenty of shopping and office complexes near by. The added downtown atmosphere will also add to out atmosphere but providing entertainment and leisure to our experience.
The size of the Building is 7450 square feet. The Purchasing of the property will be done as soon as a business loan for $850,000 dollars is achieved. Exact location: 1001 Central Ave. Building 1102 Unit#102 Phoenix, AZ, 85021 MARKET SEGMENTATION Our strategy is based on serving our customers with a pull and push strategy. The music enthusiast, the business entertainer and traveler, local night crowd, as well as families dinning out all can enjoy the Fantasy ROCK experience.
The store will be based on our goals and standards set earlier. The product will be tailored to fit the exactly what the local market wants. When our store expands each new store will if the same standards and quality except they will alter the food dishes a little and the music to fit what their local market wants. To find out what the local area wants will be done through a phone survey, polls taken by asking people in busy areas around the business. Top lists of radio stations and what they play. All this can be integrated into a local area.
Potential Customers AVG, Growth 2000 2001 2002 2003 2004 College Students 8% $35,000 $37,800 $40,824 $44,090 $47,617 Business Entertainers 6% $40,000 $42,400 $44,944 $47,640 $50,500 Residential Homes 10% $80,000 $88,000 $96,800 $100,480 $117,128 Travelers 5% $20,000 $21,000 $22,050 $23,153 $24,310 TOTALS Avg. 7% $175,000 $189,200 $204,618 $221,364 $239,544 This table represents the average growth expected for the Phoenix area broken into our market segmentation’s. The numbers were generated from the average incomes from two local area bars and grill’s. MARKET STRATEGY A combination of local media and even marketing will be utilized around the local market of t …