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Ay-Ay-Aye Chiquita Business Plan

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APPENDIX

Ay-ay-aye Chiquita
Ay-ay-aye Chiquita

Group Members:

Joann Beeler
Sarah Elmoheb
Francisco Olivas
Leah Boswell
Ashley Stuteville
Marisol Hernandez

Entrepreneurial Management / 8-10:20pm

I. Executive Summary

Ay-Ay-Aye Chiquita is a full service restaurant and a sport bar that deliverer’s a safe and fun environment for sports fans and family dinning. Our restaurant will provide Authentic Mexican Cuisine. Ay-Ay-Aye Chiquita has the opportunity to expand the sports bar/restaurant service industry by offering Authentic Mexican Cuisine in a fun energetic environment that all customers will enjoy. With a large Hispanic population and we are excited for this great opportunity. Visiting our competition, speaking with sports fans, restaurant owner, wait staff and management we have a well though plan ready for execution.

The customers experience is our top priority. In order to deliver on that promise we plan to run our business efficiently by partnering with some of the business vendors both locally and nationally such as Cisco and the local farmers markets Greens Produce and Cow Towns Farmers Market. We believe these partnerships make the difference in delivering the value that we have promised to our clients.

Our business will provide a wide array of activities that our customers and team members will enjoy participating in: Weekly activities at the restaurant during our peak sporting season, opportunity to give back to the community by donating time and money.

Ay-Ay-Aye Chiquita sets itself apart from other sports bars in the area by serving authentic Mexican food. Right now, sports bars offer a variety of American Fare like burgers and wings, but there is not a sports bar in the area right now that combines a fun and exciting sports bar atmosphere with authentic Mexican cuisine. In addition to serving fine Mexican food, our food also comes with a story. We buy our fresh ingredients locally, therefore doing our part in supporting the local economy.

We realize that our city is committed to the local sport teams and organizations and we are excited to partner with them and provide our support as part of this community. All sports fans that bring their ticket stub from a game held at the Ballpark or the Cowboy Stadium will receive an additional savings on their bill. We also will support fundraisers for local High Schools and little league sports teams in the Arlington area. Each team will have opportunities to raise money by setting up a both inside or our side of the restaurant during their allocated time slot. The hanging of sports memorabilia from The University of Texas at Arlington sports teams and participate in all campus life activities to support the main customer base, the college student.

Our well thought out leadership team is the key to executing our business plan effectively.

Marisol Hernandez (Chief Operations Officer), Leah Boswell (Director of Human Resources), Francisco Olivas (Founder and Procurement Director), Sarah Elmoheb (Chief Financial Officer), Ashley Stuteville (Chief of Information Technology) and Joann Beeler (Director of Special Events).

II. Mission Statement:
Our mission at Ay-ay-aye Chiquita is to provide the best atmosphere to our customers. To prepare the best authentic Mexican Cuisine that meets our highest standards in all aspects. To impress our customers by providing them with impeccable service, demonstrating warmth, efficiency, professionalism, knowledge, and integrity in our work. To create and maintain a restaurant that is competitive by providing all who work with us a friendly, cooperative and rewarding environment. To keep our concept fresh, exciting and on the cutting edge of the hospitality and sports entertainment industry.

III. Company History:
Ay-ay-aye Chiquita was created by our Founder, Francisco Olivas, in 2012. Through his hard work and determination Francisco created a concept that no one else in the restaurant industry has tapped. While trying to find local sports bars to bring his friends out to, Francisco noticed the lack of flavor in the food provided and the lack of enthusiasm created by the staff. The screens were always focused on the same sports not providing any type of diversity, drawing in the same crowd day after day. He wanted to bring diverse sports fans the entertainment venue they wanted and deserved. Being apart of the DFW Metroplex with the greatest teams in the nation only minutes away he wanted to provided a stadium sports feel to an indoor/outdoor venue where all fanatics can come and enjoy the wonderful outgoing service, amazing drinks, and authentic Mexican cuisine.

IV. Business and Industry Profile For 2012, the restaurant industry has generated $632 billion in sales; with over 970,000 locations the industry employs 12.9 million people. This solidifies the industry position as one of the largest private -sector employers Restaurant-industry sales are projected to total $632 billion in 2012 and equal 4 percent of the U.S. gross domestic product. As we are getting out of the economic slump the restaurant and sports bar industry is booming with jobs and increasing sales in revenue. Since 2000, restaurant sales have increased from $379 billion to $631.80 billion. And in a typical day restaurant industry sales average about $1.7 billion. The industry trends to watch: * More locally produced food times * Providing healthy items on the menu and calorie counters * Technology use - providing more easier electronically payment at each table * The use of social media to see the customer ratings. * Price assurance so customers will come and spend

Competitors Buffalo Wild Wings - Sports entertainment and full bar service that serves wings close to our location
Fuzzy’s Tacos - Mexican food that also provides TV for sports very close to the UTA campus
Plucker’s - similar to Buffalo Wild Wings but far from our location
J Gilligan’s - Bar that provides bar foods close to the UTA campus

V. Business Strategy; Objective 1. Set up LLC to limit investor and personal liability by the first month of opening 2. Complete construction less than 4 months after leasing 3. Average $50,000 plus in revenues monthly. 4. Increase annual sales between 4-8% 5. Become the most visited sports bar in Arlington, Texas for 2012

SWOT Analysis- Ay-ay-aye Chiquita
Strengths
* Being unique when it comes to environment, food, and the people working at the restaurant. * Being able to offer different types of food compared to that of any other sports bar. * Have experienced employees who have prepared authentic Mexican food for many years. * Having enthusiastic employees who not only will do the minimal amount of work to get by but also will go one step further by interacting with the customers interested in the sporting events. * Located less than three miles of both The Dallas Cowboys Stadium and The Texas Rangers Ballpark in Arlington. * Located in strong sport fanatic area. * Lowest possible prices and best authentic quality. * Fun, friendly environment for any age group.

* Top of the line entertainment. * 20+ High definition televisions. * Employees who are knowledgeable of sports. * Being able to accommodate any sport fans needs. * Patio area for special events or group gatherings.
Weaknesses
* Competing against other local sports bars that are known nationally. * Only offering a specific type of food. * Having no reputation in the sports bar field. * Having to start from scratch. * High cost from operation. * Many distractions for employees during a typical workday. * People may rather watch the sporting events at their homes.
Opportunities
* Perfect area where people will be interested. * Competitors are vulnerable because they don’t change to meet needs of customers. * Global Sports will attract a variety of sports fanatics. * Our unique employees will help customers understand what is going on. * Our location will attract many local sports fans. * Our location will attract many college students. * The ability to grow into one of the top sports bars in the area.
Threats
* Economical hard times may hurt revenue. * More and more people are getting High Definition televisions at home. * Competitors seem to be adapting to the customers demand. * Employees enjoy the entertainment a little too much rather than doing their job. * High-end competitors wanting our cooks because of their authentic Mexican food background. * Newer Televisions seem to come out every other month.

* Revenue may decline due to seasonality of the more favored sports in the area. * Risks of lawsuits for contamination leading to food poisoning * Continuing trend for people to “eat clean” and make healthier food choices * Risks of lawsuits pertaining to alcohol involved accidents and/or confrontations

VI. Description of Firms Product/Service:
[Customers Who Enjoy Mexican Food]* *Based out of 70 people surveyed Ay-ay-aye Chiquita is a full service bar/restaurant that attracts all sports fans who enjoy authentic Mexican cuisine. To provide the best stadium entertainment we have located ourselves at the center of our sports area only minutes away from the Cowboys and Rangers stadiums. We encourage fans from all sports and all teams to come and show their team spirit and pride, we award fellow fanatics with an amazing environment. We offer all sports types viewing and provide the best seats in town when it comes to finals and championships. During special events sports such as the Olympics, Finals, Cups, Bowls, and World Series will be displayed in the majority of the store but we will still make space for other events our fans want to see. Our bar provides the best quality mixes at low prices and our food has the best ingredients for the best quality at an affordable price. Our team is knowledgeable in sports and in what fans want in entertainment. Built close to the entertainment venues and UTA, Ay-ay-aye Chiquita provided the best location for student as well as locals to come and unwind while watching the best sports pastimes.

VII. Marketing Strategy; Documenting Market Claims
[Favorite Sports]* * Based on 70 people surveyed
Ay-ay-aye Chiquita's has a clearly defined target market. Our target market consists of sports fans, families, college students, and tourists who are looking for a place that will meet their expectation of a sports bar and Mexican restaurant. These are individuals that are looking to have the next best experience to actually attending a game, while enjoying flavorful Mexican cuisine.

Because we have such a clearly defined target market, we would benefit most with a direct marketing strategy. This allows our business to communicate directly with our customers.

We will heavily advertise the grand opening a month and a half prior to the opening. We will hand out fliers before and after major sporting events in the area. We will also run ads in the sports sections of local newspapers to keep sports fans informed.

The marketing budget will be generous during the first couple of months so that we can build name recognition. We have to establish our fan base. If we can efficiently and effectively establish our initial fan based customers, then they will become a great tool for

advertising for us by word of mouth to their friends and family. We are expected to spend about $ 4,000.00 in our first quarter on advertising.
These are some of the ways we can use advertising to help our direct market approach:
- Fliers around UTA campus, after major sporting events in the area, and other small business
-Coupons/mobile coupons by text message
-Special offers for those who show a ticket stub from a recent sporting event
Ad-pages
- Direct mail coupons
-Facebook, Twitter deals
- Grand Opening celebration
- Radio advertising
- Restaurant webpage

VIII. Location and Layout
Ay-ay-aye Chiquita will be located at the corner of Division and Collins in Arlington, Texas, which is south of The Dallas Cowboys Stadium and the Rangers Ballpark. Since our location will be within two miles of either stadium the Fans will in the perfect environment to enjoy our local sports teams including the Dallas Mavericks, The Dallas Cowboys, Texas

Rangers, UTA’s collegiate sports as well as any other sporting even that will be taken place at the time. We are also less than three miles from Interstate-30; so finding us will be extremely for any fan that isn’t from the Arlington area. Since there is no other sports bar that provides authentic Mexican food, we are sure to attract those sports fans that are in search of delicious food as well as an exciting environment where they can cheer on their favorite sports team alongside other diehard fans. Since we are located so close to the University of Texas at Arlington we will attract sport enthused college students who want to enjoy authentic Mexican food and televised sporting events at a very reasonable price. Ay-ay-aye Chiquita will offer both indoor and outdoor seating along with the great staff and environment we will have multiple high definition Televisions where you can enjoy the current sporting events. Since we will have multiple Televisions, we will have multiple games going on at once to satisfy any fan and whatever team he/she is rooting for. We will have a bar area that will serve our wonderful drinks as well as booths/tables that will let you watch the sporting even comfortably without straining your neck.

IX. Competitor Analysis
Our Direct competitors would be Buffalo Wild Wings who offer sports events on large screen televisions just as we will and offer a full bar service but only offer a limited amount of diversity when it comes to food other then wings. Like Buffalo Wild Wings Plucks is another typical wings sports bar that offers wings and live televised sporting events. There are many other sports bars such as Black Finn, Gilligan’s J bar &Grill, Humperdinck’s, No Frills Grill, Hooligan’s and many others that offer dinning while providing sporting events but none can say they offer authentic Mexican Food. Our food sets us aside from the typical bar and the typical bar food by combining Real Mexican food that everyone knows and loves along with live sporting events on out high definition televisions. Our Indirect competitors would be any other Restaurant that would offer either Mexican or any other type of food as well as the major sporting facilities that are located down the street from where we will be located. Nevertheless we are sure that our service will be as good if not better while providing excellent food as well as excellent entertainment.

X. Description of Management Team:
Francisco Olivas is the Creator and Founder
Ay-ay-aye Chiquita Management Team: * General Manger-In charge of firm operations from scheduling to making sure restaurant is running properly, and sales are being met * Assistant Manager- In charge of shift leaders and escalated issues from customers, forecasting future sales and maintaining every day processes in order * 4 Shift leaders * Opening leader-making sure that everything is ready before store opening, all foods are prepped and ready to go. *

* 2 Mid-shift leaders- make sure operations for the day are running smoothly, deal with customer complaints, and watch over staff * Closing leader-make sure all closing duties and cleaning is done properly, overlook staff and make sure that food is prepped properly for following day.

XI. Plan of Operations:
Our main vendors will be Sysco and local produce farmers. We will purchase our paper goods and restaurant supplies from Sysco. Our fresh ingredients will be purchased from local produce farmers such as Downtown Arlington Farmers Market, Greens Produce, and Cow-town Farmers Market. By purchasing our fresh ingredients locally, we will procure our fresh ingredients from local growers to provide the freshest ingredients to our customers while in turn supporting the local economy. Our goal is to support our local markets in order to provide our customers with the best quality ingredients while maintaining reasonable pricing.

Ay-ay-aye Chiquita will invest in a multi-functional computer system, which will handle the business’ order taking along with managerial processes such as inventory control and bookkeeping. Touch screen stations will be implemented throughout the restaurant for ease of access by all staff. Ease of reporting, order-taking, and office management will be accessible with just a few keystrokes Our hiring process will include interviews, personality assessments and background checks. Once screened, staff will be trained on providing the best customer service possible along with extensive knowledge of menu items offered and intermittent training will take place through the year to emphasize the importance of continuously growing our staff as we grow our business.

The original building for the restaurant will be located at Collins and Division. We will focus on getting up and running and have some experience under our belt before considering expanding further into the community.

Forecasted Financial Statements on Following Page

10 Citations

* National Restaurant Association 2012 * http://www.restaurant.org/pdfs/research/PocketFactbook_2012.pdf * NDP Group 2012 * http://www.restaurantindustrytrends.com/briefs.html * Restaurant Owner 2012 * http://restaurantowner.com/ * Entrepreneur 2012 * http://www.entrepreneur.com/uploadedfiles/images/formnet/cred1.doc. * Hasani, S. 2012. Owner of Brooklyn’s Best Pizza in Arlington, TX * Spoke about how he started his business and some of the obstacles he had to overcome in starting his business. * Jasmine. 2012. Waitress at Plucker’s Restaurant in the Highlands, Arlington, TX. * Spoke about the customers they receive, the atmosphere they create, and the business they handle on a daily business. * Mark. 2012. Closing Shift Manager at Fuzzy’s in Arlington, TX. * Answered questions about inventory and forecasting. Spoke about daily business and answered pre made questions * Surveys. 2012. Created by Group D * Surveyed potential customers about their preferences and gave us an insight to what we could incorporate in out business. * Maria. 2012. Owner of Las Amiga’s Restaurant in Arlington, TX * Fairly new restaurant owner started business in 2010, asked questions about startup and location preferences, what has been her most successful advertisement format. * Restaurant. 2012. * http://www.restaurants.com/
Used the restaurant guide to help us format our business to make us standout, also a form to advertise ourselves.

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