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Italian Restaurant Business Plan - Executive Summary

1.1  Mission statement

Our mission at A Touch of Tuscany is to provide our clientele with a fine dining experience offering old world home style traditional Italian cuisine in an ambience reminiscent of Tuscany, Italy.

1.2  Highlights

• Jack Gordon and Carmen Hernandez have a combined eighteen years in the restaurant business and are now looking to start their own full service restaurant called A Taste of Tuscany offering home style Italian dining to their clientele.
• The total startup costs to open doors at A Taste of Tuscany during the last week of October 2008 are projected to be $452,000.  Of this Jack and Carmen, who are equal partners in A Taste of Tuscany Inc. (the operating company), will contribute $266,000 and the remaining $186,000 in financing will come from a bank term loan.
• The target market for A Taste of Tuscany will be the county of Westchester and the restaurant will be located in the city of White Plains.  Known for its many recent developments White Plains offers a very solid lunch crowd given its day population of 250k people.  Westchester County boasts a highly educated, well heeled and upped middle class population of almost 1 million residents.
• While there are 872 full service restaurants in Westchester County, very few offer the home style Italian fare that A Taste of Tuscany will be offering.  With its eleven employees not counting Jack and Carmen, it will be one of the larger establishments for fine Italian dining in the county.
• Advertizing in local media, strategic alliances with members of the local chamber of commerce and sponsorship of local charitable events will contribute to the marketing efforts of A Taste of Tuscany.
• Average sales projections of $1.4mil, $1.5mil and $1.6mil are anticipated for the first three years of operations respectively.  Gross margins are anticipated to be 65%, 66% and 67% respectively.  Net profit margins are expected to be 3.25%, 4.43% and 5.56% in 2009, 2010 and 2011 respectively.
• A web presence is planned along with a significant investment in technology to generate efficiencies in operations.

1.3  Goals & objectives

• To secure financing in the amount of $186,000 so that we may raise enough cash to cover our anticipated startup expenses of $452,000.
• To have all the elements of our business plan executed and in place to facilitate the opening of A Touch of Tuscany by the end of October 2008.
• To continue to build our clientele by offering them a delectable and comfortable dining experience.
• To become a landmark for fine Italian cuisine in Westchester county, NY within three years of our opening the doors at A Touch of Tuscany.

1.4  Keys to success

We believe that the following elements will contribute greatly to our being able to execute on our goals and objectives:

• Successfully secure financing in the amount of $186,000 to provide 41% of the capital in our estimate of start up funds required.
• While we have narrowed down our choice of locations in White Plains to three possibilities, it is important that we are able to negotiate a lease for either of these locations that includes terms and costs in line with the market rate of approximately $35 per square foot.
• We must be able to hire and maintain adequate amounts of full and part-time staff at competitive market rates to facilitate the smooth daily operations of A Touch of Tuscany.
• Our ability to control costs given our vast experience is a key element of success in our plan – one of the two owner / partners will always be on the premises of A Touch of Tuscany and will greet our guest personally whenever possible.
• While the evening and weekend dinner will be a very important part of our income, we must also be able to successfully build a steady clientele of office going lunch patrons.   This along with large parties, banquets and take outs are a very important part of achieving our financial goals in a timely manner.
• While we have planned for a slow market environment at A Touch of Tuscany, we also believe that is important that a generally healthy economic environment prevail for the county of Westchester during the course of the first few years.  This does not mean that we can’t withstand tough times but it would certainly be detrimental to us and any other full service restaurant if the national and local economy were to undergo a protracted recession.