Description of Proposed Business:
Our proposed company will be a family oriented and sports bar styled restaurant and bar. Our company would be a service provider because we will be providing food and a dining area for families and friends. The goods and services that will be provided from our company are food and beverages. Our services will be unique because our customers will feel welcome and it would be a good and comfortable environment. Our goods and services will be sold from food and beverage menus ranging from many different prices. Our main customers will be adults and college students and on occasion there will be families dining in. The business will be located in a busy area on a main street around shopping malls and hotels. We want our business to be located in an area where travelers would want to come eat after shopping or because it is close by their hotel.
Industry analysis: In 2007 a census was taken showing that there were 566,020 food service and drinking places with 424,101 specifically classified as restaurants in the United States. Since 2007 the restaurant industry has been on the raise. In 2011 the restaurant industry grossed 604 billion dollars in sales, a 3.6% increase since the previous year. In the same year the restaurant industry employed 12.8 million people. It has been forecasted by “restaurant.org”, that the restaurant industry will gross 632 billion in sale, a 3.5 percent increase from 2011. The website also stated that the food industry would increase the number of employment form 12.8 to 13 million people. This would mean that approximately one out of ten people would by employed by a restaurant. With the increase of employees in the food industry, “restaurant.org”, also stated that this would intern add 20+ million more jobs to the food service and drinking industry as a whole. Even with the industry being on the raise, there are still risks that need to be taken into account. With the restaurant industry being a more mature a new business face a lot of competition from already established dining restaurant like T.G.I Fridays, Cheesecake Factory, and Mike’s. There is also competition coming from other countries when you open up into the global economy like Skyline Bar & Grill Co. The global restaurant industry is projected to reach 2.1 trillion dollars by 2015, but new business that cannot compete with other well expanded business and business domestic to these countries may not see a profit. The key for the Skyline Bar & Grill Co. success is the proper expansion of the company both domestically and foreign. Through proper research the Skyline restaurants can profit in foreign countries by adapting to their culture and social trends. What makes the Skyline Restaurant & Bar Co. a contender in the restaurant industry is its ability to present food home to the restaurant’s region in a new innovative way.
The mission of Skyline Bar & Grill Co. is to provide the highest quality of food and customer service in a unique and innovative way, within a warm, comfortable, friendly, and family orientated atmosphere.
The core beliefs of the Skyline Bar & Grill Co. intends that all employees from our servers to the CEO’s will act with highest level responsibility, respect, accountability, honesty, integrity with both moral and ethical in mind with all actions concerning the service and interaction with customers. Skyline Bar & Grill Co. dedicated time and effort to make sure that all people employed at a Skyline Restaurant & bar restaurant (as while as our associates) maintain and execute the highest levels of our core values and beliefs.
Legal Form of Organization:
The Skyline Bar & Grill will be a Sole Proprietorship. Our company chose a Sole Proprietorship because it is easier to form a small business and less expensive. Another advantage of choosing Personal ownership is that it has few government regulations. The owner of the…