which have to be addressed on a daily basis to avoid fine and potential lawsuit

Which have to be addressed on a daily basis to avoid

This preview shows page 9 - 11 out of 43 pages.

which have to be addressed on a daily basis to avoid fine and potential lawsuit this can be addressed by creating standard operating procedure (SOP) to minimize the risk. In addition we will require a taxes accountant or training for our management team to address required taxes for Federal Government. Business CycleEven with the current recession, the Restaurant Performance Index indicates that the restaurant industry has only dropped by 4% and historical data shows restaurant share of the food budget in United States was 25% in 1955 and is presently at 48%. (NRA, PocketFactbook, C2009). In addition in 2000 there has been an increase of 15-20% per year in coffee sales across the nation creating current market of $18 billion of which 50% are specialty coffees. (Ghena, Downtown Economics, p.1 )Research conducted by Nielson Media Research states that 28% of the coffee shop patrons are single adults about 43 with 70% holding a post graduate degree. And of these patrons, those who drink specialty coffees have an average income of $76,000 per yr.A study published by the Specialty Coffee Association of America, assumes that gourmet coffee consumption has remained steady but the espresso has increased from 3% to 7%in recent years. The study also concludes that sales in coffee house nation wide average annual sales of $170,643. According to the National Coffee Association, there are approximately 12,000 coffee shops across the country and by 2010 this number is expected to increase to 50,000+ coffee shops. Even though the gourmet coffee sales have been the strongest growing part of the coffee market, recent studies show that espresso drinks are beginning to grow in popularity, meaning
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that coffee shops will also grow in popularity. Texas has 35,890 eating and drinking locations and this generated $35 billion in sales yearly in 2007 this averaged $975,202 per location. By combining a coffee shop and restaurant we will be tapping into a niche market with excellent growth potential. Thus making Addison a prime market for a coffee shop since it has a population of only 15,830 residents, but its business and daytime population typically increases to 100,000 a day, in addition 55% of these residents are about age 25+ and have an higher level of education ranging from an associate's degree, to master degree. (Ghena, Downtown Economics, p.1 ) Marketing StrategyThe Enclave Bistro will provide a unique European Style atmosphere with competitively priced dishes with exceptional service. In order to capture a significant market share there will be several avenues to promote the Enclave Bistro. PricingAddison is one of the Dallas area’s most popular destinations with more than 170 restaurants, 22 hotels and hundreds of local businesses. The Enclave Bistro will fit perfectly into the blend of diversity the city uniquely offers to its residents and visitors. Although surrounded by other restaurants, the Enclave Bistro will be distinct in its competitively priced menu, delightful atmosphere and exceptional service.
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