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1.0 Executive Summary
The purpose of this business plan is to raise $85,000 for the development of a creperie based in Fort Lauderdale, Florida. Company, LLC (“the Company”) was founded by Sandra Landers. The business will specialize in the sale of both sweet and savory crepes as well as providing a wide range of café beverages. The business is seeking an investor for this capital. As Fort Lauderdale has a large population, the Founder sees a substantial opportunity to create several locations throughout this market.
1.1 The Restaurant
As stated above, the business will provide both sweet and savory crepes from its modestly sized location. Management is currently working with a commercial real estate brokerage to source a location that will comfortably seat 15 people at any given time. The location will also feature counter service so that people can place orders for take-away crepes.
The business will generate substantial revenues from the wide range of café beverages that will be provided including cappuccinos, espressos, and standard coffees. Tea will be available as well. The business will also provide bottled water and bottled sodas. Alcohol will not be served.
Chapter three of this business plan will further document the operations of the business.
1.2 Financing
The Founder is seeking $85,000 from an investor to establish the creperie in Fort Lauderdale. The terms of this investment will be determined, but it is anticipated that the Financial Partner will receive an equity interest in the business as well as ongoing dividends based on the profitability of the Company. Primarily, the funds will be allocated towards the following:
• Location deposit and leasehold improvements
• Furniture, fixtures, and equipment
• Working capital
• Initial and ongoing marketing costs
Crepe Restaurant, LLC may secure additional rounds of equity or debt capital in order to establish additional locations within the greater South Florida market area. As creperies have low startup costs, the business can easily develop additional locations given that a full scale kitchen is not needed to make crepes. This document assumes that no further locations will be established within the first three years of operation.
1.3 Mission Statement
The Company’s mission is to provide delicious sweet and savory crepes at an affordable price to the Fort Lauderdale community.
1.4 Management Team
Sandra Landers is an experienced entrepreneur with more than 7 years in the food service business. She will be able to make Crepe Restaurant a well recognized creperie in the market while concurrently expanding the business to include numerous locations moving forward.
1.5 Sales Forecasts
1.6 Expansion Plan
As will be one of the main themes throughout this document, the Founder is establishing the business with a focus on expanding the number of locations operated. Crepe Restaurant, LLC will make continued expansion of its marketing campaigns to encompass the entire South Florida market area. Management may also implement a franchising program.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Crepe Restaurant, LLC. The business is registered as a limited liability company in the State of Florida.
2.2 Required Funds
The $85,000 provided by an Investor will be allocated towards the following startup costs:
2.3 Investor and Management Equity
This will be determined between Sandra Landers and the Investor at a later time.
2.4 Exit Strategies
There are no long term plans to divest this business as Management intends to develop numerous locations throughout South Florida. In the event of a business sale, the Company will sell the initial location and all subsequent locations to a third party. The business could receive a sales premium of three to five times the previous year’s earnings. This valuation could be substantially higher if the business implements a franchise system to grow the business.
3.0 Operations
The business will provide classic and fusion crepes from its highly visibility location in Fort Lauderdale. Customers will be free to choose from a number of fillings to customer their own crepe. The business will also have a number of standard options. One of the best aspects of these businesses is that they enjoy relatively high gross margins as well as low startup costs. The food preparation equipment will total no more than $20,000. The business will charge $7 per crepe.
The business will provide gourmet café beverages which will include a wide range of coffees and tea drinks. The business will source high quality coffee beans from regional roasters that source their inventories on a global basis.
Moving forward, Crepe Restaurant may establish a franchise system that would allow the business to establish locations in tandem with third party entrepreneurs. This event would not occur until the business has at least four corporate owned locations. The Company would recognize income from the sale of the initial franchise license as well as ongoing royalty fees on a monthly basis as a function of gross sales among franchisees.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
The economic outlook is strong. Although there have been issues with inflation, these risks are becoming more muted as the US Federal Reserve has been the appropriate measures to reduce the rate. Additionally, interest rates are now declining which will have a positive impact on the overall economy.
Moving forward, issues with the economy will have a negligible impact on Crepe Restaurant’s ability to provide its fare at a profit. Crepes are a low-cost item, and only a major and severe economic recession would not to occur before consumers are unable to afford this type of cuisine. The economic risks of this creperie are further reduced by the fact that the business is going to operate in Fort Lauderdale, which is a wealthy market area that receives numerous tourists on a year-round basis.
4.2 Industry Analysis
The food service industry is one of the country’s largest and fastest growing economic segments. The number of meals consumed outside of the home continues to grow as people have become far busier over the past twenty years. In regards to the quick service restaurant industry, these businesses aggregately generate in excess of $400 billion among over 390,000 enterprises. This segment of the industry employs over four million people.
One of the major trends that has occurred has been the continued integration of technology into all facets of a food service business’ operations. Management will use state of the art point of sale systems coupled with online ordering capabilities among people that want to place a to-go order.
4.3 Customer Profile
Crepes are universally enjoyed by people of all socioeconomic levels. Given the wide range of demographics in the Fort Lauderdale area, it is expected that people from all walks of life will want to enjoy crepes served at the restaurant. Sandra Landers has specifically chosen this market given massive population and ongoing influx of tourists on a year round basis. As this is a wealthy market area that is home to a number of retirees, the business will enjoy a greater degree of economic stability.
4.4 Competition
The ongoing competition that Crepe Restaurant, LLC will face in the Fort Lauderdale market is limited. Although crepes are a popular and low cost fare, there are only a handful of restaurants that provide this type of food. This is one of the reasons why Management sees a substantial opportunity to establish a creperie in this market. The business, through its low cost operational infrastructure, will be able to remain pricing competitive against cafes in this market (as the business will provide coffee and tea beverages in addition to crepes).
5.0 Marketing Plan
Management will implement a number of high impact marketing strategies that will create immense awareness for Crepe Restaurant and its fare. As discussed in the executive summary, the Company is currently sourcing a small-scale food service facility that will be located on a highly trafficked road within Fort Lauderdale. The location will feature substantial signage that has a French motif. The business will use the online marketing strategies discussed below to foster interest in the business prior to its grand opening period.
5.1 Marketing Objectives
• Establish a substantial presence in the Fort Lauderdale and South Florida area so that additional locations can be seamlessly developed in these markets.
• Leverage social media, review websites, and search engine optimization in order to create traffic to the website.
• Partner with South Florida area social media influencers that will promote Crepe Restaurant, LLC.
5.2 Marketing Strategies
The Company is in the process of securing a modestly sized facility that will allow for up to 15 people to comfortably enjoy the French styled atmosphere of this creperie. The exterior of the location will feature substantial signage, and the Company intends to have the location on a very busy roadway. While this may translate into a higher rental cost, the business will benefit from the additional visibility as this will be the flagship location.
The business will establish its online presence during the course of the development. This will create a major buzz about Crepe Restaurant that the business can capitalize on as it launches its grand opening events. During this time, substantial discounts will be provided to customers in order to familiarize them with the fare offered at the location. The website will showcase the menu while also providing customers with the ability to place orders directly from this platform (for pick up orders only). The website will undergo search engine optimization specific for the Fort Lauderdale market.
The Company will work with a social media influencer that will showcase the location on their respective social media pages. This individual will film the location as well as their dining experience. The Company will work with an individual that is well recognized and lives within the Fort Lauderdale market. This will drastically boost the visibility of the business especially as new locations are developed. The Company will aggressively ramp up these operations in the event that a franchising program is developed.
Crepe Restaurant, LLC will also benefit from reviews that are created by regional food publications. The business expects that most regional newspapers and lifestyle publications will come to the location within one year of its opening.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Payroll
7.0 Financial Plan
7.1 Underlying Assumptions
• Crepe Restaurant, LLC will acquire $85,000 from a private investor.
• The business will launch subsequent locations after the third year of operation.
7.2 Sensitivity Analysis
The Company’s revenues are relatively secure in any economic climate. This is due to the fact that the business will produce substantial gross margins from the sales of crepes. The business will also have highly controlled operating costs. The Fort Lauderdale market is wealthy and enjoys substantial tourism. These matters will contribute to the stability of the business on a month-to-month basis.
7.3 Source of Funds
7.4 Profit and Loss Statement
7.5 Cash Flow Analysis
7.6 Balance Sheet
7.7 Breakeven Analysis
7.8 Business Ratios
