1.0 Executive Summary
The Neighborhood Bar and Grill will be a unique gathering place in the suburbs of Palm Beach County. By providing exemplary service (think of the character Norm from Cheers as he’s warmly greeted each day after work), a vast selection of beer and wines and award winning food in a relaxed comfortable setting, the NB&G will be the premier bar that ‘the locals’ go to in suburban Palm Beach County.
The success of the bar is in its owners – with collectively 30+ years experience in the restaurant and bar industry. They are committed to making this operation a successful one. Employees have been hand selected and share the same views as the owners, that is, keeping the customer happy assures repeat business.
The Neighborhood Bar and Grill has plans to initially capture 2% market share or $334,000 of the $16.7 million of the local market by fiscal Year One, and an additional 2.3% and 2.53% for Years Two and Three respectively. The Neighborhood Bar and Grill will accomplish this through a concerted advertising and marketing campaign, reliance on signage and primarily by word of mouth. Located at a major intersection in Palm Beach County, the site is located in a neighborhood retail centered anchored by a Winn Dixie grocery store. With average traffic counts of 42,000 daily, the site was primarily selected because of its location, the local demographics surrounding the site and reasonable rental rates.
The Neighborhood Bar and Grill is leasing 1,400 square feet retail space in the shopping center and paying $18.00 per square foot annually NNN lease.
The following business plan summarizes the history of the NB&G, where the business currently resides and its future plans for growth.
1.2 Mission Statement
The Neighborhood Bar and Grill will provide a comfortable place for locals to come and gather for relaxation, striving to be the bar of choice for the locals in the Cresthaven neighborhood and suburban West Palm Beach. The NB&G will be known as the “Cheers Bar” – where everybody knows your name and the business will do this by: providing a relaxed atmosphere encouraging patrons to unwind -- specifically targeting professionals between the ages of 30 and 65 making $50,000 annually. The Neighborhood Bar and Grill is based on the guiding principles that life is to be enjoyed and this is reflected in its vast selection of beverages, its delicious food offerings and the professional team members. The Neighborhood Bar and Grill wants to be synonymous with country singer Toby Keith’s song “I Love This Bar”.
1.3 Guiding Principles
The Neighborhood Bar and Grill’s philosophy is simple: enjoy life and treat others as you’d want to be treated. These sound principles apply to all life’s situations, both personal and professional. At the Neighborhood Bar and Grill, these principles are applied to management, employees, customers and suppliers alike.
Life is to be enjoyed! Neighborhood Bar and Grill employees love their jobs and their customers! This is not only reflected in the outstanding service – it is because management personally culls and trains each employee putting them in the position that is ideally suited for them.
Integrity – In the spirit of all great bartenders, treat each customer with utmost respect and professionalism. The Neighborhood Bar and Grill bartenders and wait staff are trained to act professionally in all situations. If a regular patron happens to become disorderly say after a particularly stressful day, the Neighborhood Bar and Grill’s staff is trained to promptly and discreetly order a cab for these individuals. No one wants to work with drunken and disorderly individuals and the patrons do not want to be known as such either.
1.4 Keys to Success
The Neighborhood Bar and Grill’s key to success will be based on:
- Outstanding customer services – the NB&G’s goal is be the place “where everyone knows your name”. All team members are hand selected and love what they what do.
- Customer Satisfaction – By providing a quiet and relaxed environment, where friends can meet and unwind and relax.
- Provide a vast offering of specialty beer and wine offerings – catering to the public’s increased requirement for variety and sophistication in alcoholic beverages.
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