Get help now
  • Pages 13
  • Words 3175
  • Views 222
  • Download

    Cite

    Pete
    Verified writer
    Rating
    • rating star
    • rating star
    • rating star
    • rating star
    • rating star
    • 4.9/5
    Delivery result 5 hours
    Customers reviews 612
    Hire Writer
    +123 relevant experts are online

    Fantasy Rock – Business Report Essay

    Academic anxiety?

    Get original paper in 3 hours and nail the task

    Get help now

    124 experts online

    EXECUTIVE SUMMARYFantasy ROCK will be a small business that provides entertainment and leisure activities. We will sell a variety of foods and beverages. Our menu will contain many dishes. A large appetizer section, Steaks, Chicken, sandwiches, hamburgers, soups and salads will be our specialty. We will sell several types of beer on tap and in bottles.

    A few micro brews such as Fat Tire Ale, and Honey Brown larger will be kept on tap, as well as the cheaper larger brands such as Budweiser and Coors. Several large screen TV’s will be placed through out the cafe’. They will be playing an assortment of things. Our main TV’s will be playing rock videos that go along to the music we are playing. Others will provide sports coverage of big games going on.

    The intent of the big screens is so that as our customer sits we allow giving them something to look at. We want to provide them with entertainment. Rock music has an effect to energize and lift a person’s spirits. We want customers to enjoy themselves.

    A sound system will be installed to heighten our music listening. Fantasy ROCK wants to provide high quality sound yet minimizes costs. Purchasing a surround sound system by Bose speakers systems can do this. Fantasy ROCK has great potential to expand.

    Our biggest competitor is Hard Rock Caf?. How we plan to differentiate ourselves is we want to provide a more of a local business atmosphere. We want our employees to get to know our customers and welcome them by name as they walk in. The market in which we are entering is wide open.

    All restaurants are competition to us yet because of our atmosphere in providing entertainment and leisure we become unique. Currently Fantasy ROCK has no expansion plans. As profits come in and our business base grows future planning will be done. MISSION STATEMENTFantasy ROCK strives to be the premier rock music restaurant in Phoenix. Our goal is to be a step ahead of the competition. We want our customers to have more fun during their leisure time.

    We provide more television with ROCK videos and sports coverage than anywhere else in the Phoenix area. We provide a state-of-the-art Bose sounds system to deliver the highest quality sounds possible. We Combine menu selection, atmosphere, ambiance, and service to create a sense of “place” in order to reach our goal of over-all value in dining and the entertainment experience. OBJECTIVESFantasy ROCK has the objective of staying as a single store until sufficient funds have been created to open another store. The placement of the store is vital to becoming a success. The layout of the restaurant must be very pleasing to the eye and allows a sense of openness and visual ability to view several TV screens.

    The management of Fantasy ROCK will demonstrated its concepts, execution, marketability, and controls, and feels confident of it’s ability to replicate the restaurant once we choose to open a new store. The following objectives have been established:Have a single store operational by the year 2000 with a sequential time-line. Maintain high control of costs and operations be hiring quality management that will utilize computer records and data tracking. Keep food cost less than 32% of revenue. Keep beverage cost under 21% of revenue.

    Select only a location that meets all the parameters of success. Grow our single location to the $3 to $5 million annual sales level. Keep labor costs under 23% of revenue. KEYS TO SUCCESSThe keys to success in achieving our goals are:Product quality. Not just great tasting food but great service.

    Managing finances to enable better advertisement and growth of our customer base. Controlling costs at all times without exception. Instituting management controls to insure replicability of operations once we decide to expand. This applies to product control and to financial control.

    COMPANY SUMMARYRock and sports based themes—The Company will focus on themes that have mass appeal. This will include song selection, and sports game coverage. Many polls and surveys will be taken to gain a good basis of what music people want to hear. A simple comment card on every table will allow customers to place in song titles they want to hear during their stay. Distinctive design features—All locations will be characterized by spectacular visual design and layout.

    Each store will display a collection of sports and rock memorabilia. This may include guitars, sports figures, record albums, and billboard music listings, anything that appeals to the masses. High profile location—It is our main goal to pick and maintain a high profile location in the area of Phoenix. The location must contain key demographics, including traffic counts, average income to upper class income, and number of household, hotels, and offices within a 3-mile radius. We want to create a well-centered location that will allow us to gain a very large customer base.

    Celebrity events—Fantasy ROCK will be distinguished by promotional activities such as sports events, and music events on local stations. Low costs are always needed in promotion costs and local marketing is a key. ASU, businesses, homes, and parking lots will be area of distributing of flyers and promotion material. Retail merchandising—Each store will include an integrated retail store offering premium quality merchandise displaying the company’s logo design. In addition sports and rock music memorabilia will be sold. Quality food—Fantasy ROCK will serve freshly prepared, high quality popular cuisine that is targeted to appeal to a variety of tastes and budgets with an emphasis on reasonably and moderately priced signature items particular appeal to the local market.

    Quality service—In order to maintain our unique image we want to have extensive training programs and hiring techniques in order to provide our customers with the best service possible. Management will be constantly helping our staff with new techniques and watching to control old ones to make sure each time a customer walks in they feel at home, welcomed, and liberated from any outsides stresses. We want to provide a place of leisure and entertainment. COMPANY OWNERSHIPFantasy ROCK will be a Sub Chapter S-corporation. Two owners will hold 50% ownership each in the company.

    This will allow a limited liability for investors. There is a great continuity in a corporation. This will allow the life of our business to continue and grow. Lenders will be more willing to lend money to a corporation due to the continuity and legal protections. In a S- corporation all earnings go straight to the owners, this allows the money to be only taxed once producing higher profits to investors. Due to high legal content in a corporation a full time lawyer will be paid to help with these matters.

    Fantasy ROCK will be a company that can continue way into the future and has high potential for producing a profit. Fantasy ROCK’S goal to make a high quality product along with high quality service will allow it to expand and grow. Fantasy ROCK is all about our customers and put them first. COMPANY LOCATION AND FACILITIESThe company unit will range in size from 6000 to 9000 square feet and will seat from 225 to 400 persons.

    Fantasy ROCK will feature authentic rock memorabilia from the Beetles signature record to a Billboard rating list. The store will be equipped with state-of-the-art audio and video systems to enable the customer to view a rock video or sports game from where ever they sit. The sound must be of high quality. The volume will be adjusted to were customers can hear the music and it flows through them yet isn’t too loud as you muffle normal conversations.

    Great control of the volume will be kept in track. The Building will be renovated to look, clean, open, and pleasing to the customer. Unit Location will be as the follows:Downtown Phoenix– This unit is located at one of the busiest intersections in Phoenix. The placement is the exact middle of Phoenix being at Central Ave. and McDowell. Four major nightclubs surround it.

    These are Cajun House, Impressions, Night Live, and Dance Mixalot. The area is a upper middle class neighborhood, with plenty of shopping and office complexes near by. The added downtown atmosphere will also add to out atmosphere but providing entertainment and leisure to our experience. The size of the Building is 7450 square feet.

    The Purchasing of the property will be done as soon as a business loan for $850,000 dollars is achieved. Exact location:1001 Central Ave. Building 1102 Unit#102Phoenix, AZ, 85021MARKET SEGMENTATIONOur strategy is based on serving our customers with a pull and push strategy. The music enthusiast, the business entertainer and traveler, local night crowd, as well as families dinning out all can enjoy the Fantasy ROCK experience. The store will be based on our goals and standards set earlier.

    The product will be tailored to fit the exactly what the local market wants. When our store expands each new store will if the same standards and quality except they will alter the food dishes a little and the music to fit what their local market wants. To find out what the local area wants will be done through a phone survey, polls taken by asking people in busy areas around the business. Top lists of radio stations and what they play. All this can be integrated into a local area. Potential Customers AVG, Growth 2000 2001 2002 2003 2004College Students 8% $35,000 $37,800 $40,824 $44,090 $47,617Business Entertainers 6% $40,000 $42,400 $44,944 $47,640 $50,500Residential Homes 10% $80,000 $88,000 $96,800 $100,480 $117,128Travelers 5% $20,000 $21,000 $22,050 $23,153 $24,310TOTALS Avg.

    7% $175,000 $189,200 $204,618 $221,364 $239,544This table represents the average growth expected for the Phoenix area broken into our market segmentation’s. The numbers were generated from the average incomes from two local area bars and grill’s. MARKET STRATEGYA combination of local media and even marketing will be utilized around the local market of the store. Radio is most effective, followed by local print media. The local stations that we are currently at placing advertisements on are of the most popular between college students, and more stations including music that a family would listen to. The stations that apply to college students are Power 92.

    3, 93. 3, 104. 7, and 106. 3. All these radio station have a pretty cheap rate for airtime. A simple advertisement placement cost about $0.

    98 a minute. To reach our families and business customers we will have advertisements on Cool 94. 5. They charge a rate of $0. 78 a minute.

    These prices are well reachable for our small business as advertisements. All these station play a variety of Rock and alternative music. Local area print is very inexpensive and due to well placement directly is viewed by our target market. A local company called Print Technologies does lots of local print media. They create a flyer and have you pick what you want to include.

    It makes it look a lot more professional. They also have areas mapped out and deliver the flyers to local parking lots, college campus, and door to door. They charge fees according to the range of area and which type of print media you prefer. Print media is the best way to reach our local markets, while maintaining low costs.

    PRICING STRATEGYAll menu items are moderately priced. An average single customer ticket will be between $10 and $20 including food and a drink. Tickets are considerably larger for weekend’s sales and special event sales included by the promotion strategy. Our average customer spends more than the industry average for moderately priced establishments. We tend to believe that this is due to our creating an atmosphere that encourages longer stays and more spending but still allows adequate table turns due to extended hours of appeal. Our Customers should feel like they can stay and relax, while listening to good music.

    PROMOTION STRATEGYWe promote rock music, sports, and more rock music. The universal appeal of music has never been higher. A high growth area such as Phoenix has a annual influx of new residents from many other parts of the country including California, Colorado, and all of the Sunbelt region. This trend is true to the whole Sunbelt region when we decided to grow and expand our facilities.

    Many new residents and many existing ones are everyday listeners of rock music; they also tend to watch sports. Fantasy ROCK is a place that provides these utilities. Each patron can watch his or her favorite music video playing, or catch a sports game score on another television. The enabling technology is the benchmark for Fantasy ROCKAdvertising budgets and sports event promotion is an on-going process of management geared to promote the brand name and keep Fantasy ROCK at the forefront of the music theme establishments in each local marketing area. MARKETING PROGRAMSFantasy ROCK will create a “identity” oriented marketing strategy with executions particularly in local media. Radio stations, print ads, and in-store promotions are ways that the store will gain a bigger customer base which will later allow us to expand and then duplicate the same adds for the new store.

    SALES STRATEGYThe sales strategy is to build our current location up to a gross income from $3 to $5 million in sales. Once this is done we will take the profits of the store and add another store in a new location. The controls, and management would all stay the same. A few music changes and local area market surveys will produce what that local area market will want.

    Once our store reaches a $3. 5 million mark is will be considered mature. This will indicate the proper time is to expand. SALES FORECASTThe following chart shows the rapid sales increase for our location in only its first twelve months of operation.

    The two million dollar sales volume represents somewhat less than 50% of the revenue potential of the location. All sales forecasts and projections have the first year as their basis. The numbers were gained through a quantitative method of looking at sales of similar restaurants. Hard Rock Cafe, Chilies, and Five Star Sports Bar are the main companies looked at for sales projections.

    Sales 2000 2001 2002Food $1,026,242 $2,411,500 $4,497,000Drinks $998,276 $2,238,500 $4,203,000Retail $8,126 $9,045 $9,589TOTAL SALES $2,032,644 $4,659,045 $8,709,589Direct Cost of Sales 2000 2001 2002Food $329,013 $1,449,910 $2,548,980Drinks $219,561 $932,470 $1,584,660Retail $9,064 $9,064 $9,064TOTAL COST $557,638 $2,391,444 $4,142,704MANAGEMENT SUMMARYAn operational manager will need to be hired. They will have to have much experience and very qualified. Local job placement programs and such can be scanned for such a person. Other key personnel are the management of each organizational break down.

    These include finances and marketing. Michael McKee will lead the finances and Neal Schroeder will lead the marketing department. There is not expected to be any shortage of qualified and available staff and management from local labor pools in each market area. Organizational ChartORGANIZATIONAL STRUCTUREThe organizational structure of Fantasy ROCK is a great system to keep quality control and a uniform structure once Fantasy ROCK decides to expand. Each store is broken up into three main departments.

    An operations department, which will be lead by our hired manager, a financial department led by Michael McKee, and a marketing department lead by Neal Schroeder. Operations will include all the in-store activities. The manager will be required to keep quality control at its best. He/She will be in direct contact with all employees and in charge of their proper training so they can help with any problem. He/She will make sure costs are kept low and food is not being stolen or wasted. Finances will include all the balancing of accounts, payment of bills and salaries; he will also be in charge of taxation and loan financing.

    In order for money to be approved to be used for certain items it must go through Michael McKee. He will be in charge of looking where the money is going and where it needs to be controlled. He will work with the operations manager to gain back control of problem areas. He will watch and make sure all our sales percentages and labor costs are not rising above our pre-set quality controls. Money management is very important to our business.

    If we can control our money flow, then we can then bring in a greater profit and know where to place the profits to improve the company. The marketing department lead by Neal Schroeder will include all the sales promotions. He will work one-on-one with the financial manager to see what profits and what money we have free to use on marketing. It will be his job to use the money in the best possible manor. We want to have the best marketing strategy for the money we have set aside for promotions. The marketing manager can also work with the operations manager to see what items are not selling and what items need a promotion in order to get them moved out of the store.

    LABOR COSTSSalariesOur salaries will be mostly low income when our business first opens, but will have definite potential for increase. As in most food services, tips will play a major factor in our employee’s income. The head cook/waiters will earn the most (below the management staff), do to their responsibilities of training new employees, and overseeing others, while they attend to their own responsibilities. Most of our jobs, with the exception of trainers and cooks, will require little or no previous experience. Initially, our company will make enough money to pay low salaries, but once we have covered our start up costs, higher pay, and more benefits will be offered.

    Waiter/Waitress $3. 00+/hr + tips 16k-20k/yrBartender $8. 75+/hr 20k-24k/yrHost/Hostess $6. 25+/hr 18k-22k/yrTrainer/Head $12.

    25+/hr 32k-36k/hrCook $9. 75/hr 30k-34k/yrOperations MGR TBD 36k-38k/yrBenefitsThe only benefit currently planned would be an overtime pay increase. Other possible benefits in the future might include bonuses, paid vacations, and possible profit sharing. HolidaysWe will be open on most holidays, especially those when our business can generate more profit (i. e.

    Labor Day, New Year’s Day). On such days however, we may have limited hours, and our employees will be notified well in advance, so that any schedule changes can be made. We may also have to offer increased pay at such times as Christmas and New Year’s. Realistic Cash Flow for Fantasy ROCKOptimistic Cash Flow for Fantasy ROCKPessimistic Cash Flow for Fantasy ROCKBILL OF MATERIALSFood Item Quantity CostLettuce Four 5lb heads $6.

    89Hamburger 20lbs $23. 45Ham 20lbs $25. 68Turkey 20lbs $31. 98Roast Beef 20lbs $28.

    78Ground Beef 20lbs $22. 66Sausage 15lbs $38. 98Hot dogs 144 packages $12. 89Tomatoes 48 per box $26. 89Pickles 5 gallon drum $4. 50Onions Large Box 8×10 $8.

    90Green Peppers Large Box 8×10 $8. 67Spices 2 lbs $3. 98Marinara Six 1 gallon containers $18. 76Soups 3 soups $40. 89Tortilla chips Large bag (approx 1,500 chips) $12.

    45Ketchup 48 36 oz squeezers $17. 89Mustard 48 12oz jars $32. 56Steak Sauce 36 36oz bottles $23. 89Guacamole 10lbs $35. 86Beans 50lbs drum $12.

    87Olives 10 gallons $13. 76Flour Tortillas 176 approx. $5. 68Eggs Six dozen $13. 45Ice cream 20lbs $20. 76Pie filling 16 12 oz cans $27.

    99Pie Crust 144 crusts $32. 45Hamburger buns 144 buns $32. 87Hot dog buns 144 buns $32. 98Pizza dough 40-50lbs dough $22.

    99Coca-cola 8 gallon box $12. 45Dr. Pepper 8 gallon box $12.45Sprite 8 gallon box $12.45Iced tea 8 gallon box $12.45Mug Root beer 8 gallon box $12.45Malt 4 lb box powder $8.65Chocolate syrup 2 gallons $3.65Cheddar Cheese 80lbs $56.98Mozzarella Cheese 80lbs $58.90Parmesan Cheese 20lbs $28.67Dressings 5,000 assorted $22.45Fresh Bread 6 loaves $3.75Macaroni Salad 2 gallons $27.65Potato Salad 2 gallons $12.87Pepperioncinis 5 gallon drum $25.67Salami 20lbs $22.98Pepperoni 20lbs $19.87Garlic 1 lbs $2.89Butter Large tub $5.67Computers Essays

    This essay was written by a fellow student. You may use it as a guide or sample for writing your own paper, but remember to cite it correctly. Don’t submit it as your own as it will be considered plagiarism.

    Need custom essay sample written special for your assignment?

    Choose skilled expert on your subject and get original paper with free plagiarism report

    Order custom paper Without paying upfront

    Fantasy Rock – Business Report Essay. (2018, Dec 31). Retrieved from https://artscolumbia.org/fantasy-rock-business-report-63311/

    We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

    Hi, my name is Amy 👋

    In case you can't find a relevant example, our professional writers are ready to help you write a unique paper. Just talk to our smart assistant Amy and she'll connect you with the best match.

    Get help with your paper