Summary
This plan proposes leasing prime real estate located in Port Saint Lucie, Florida and operating a casual atmosphere family restaurant to compete in the lunch and dinner market.
The managing partners have over fifty combined years managing high volume operations for industry leaders and have been responsible for over $70 million in sales revenue and food production in the proposed market.
Masters has a number of competitive advantages:
1. A team of top performing managers currently employed by industry leaders in the proposed market.
2. A unique concept that provides three different atmospheres in one location.
3. A documented commitment to superior service and facility management.
4. A prime location on US 1.
5. The only concept within ten miles offering comfortable live music while you dine.
6. A price point comparable to direct competitors.
Main objectives are to build brand awareness, recognition and consumer confidence in the brand, grow annual revenues 1-3% and expand to three locations within three years. Maintaining monthly operating expenses at goal percentages, providing consistency of product and service and a consistenly executed marketing strategy will assist in achieving these objectives.
Key employees have been recruited from professional relationships developed by these partners. These employees are on standby and ready to launch Masters upon funding of this plan. These key employees bring an additional 100+ years of restaurant experience, loyalty and trust to assist management with making Masters a successful and outstanding venture.
The managing partners historical and award winning committment to excellence in facility management will be applied, without exception, to establishing the Masters brand.
Location
The proposed 6000 sq. ft. location is located on the east side of US1 less than 1 block south of Port Saint Lucie Boulevard. This intersection is the heaviest traveled intersection in Port Saint Lucie, Florida with over 71,000 vehicles passing daily. The facility was recently builtout as a fine dining establishment. The owners state they spent over $1m expanding from a deli to a full service facility. The decore is upscale, in great condition with some exceptions with kitchen equipment. Signage consists of two building mounted shadowbox signs and approximately 10ft x 10ft of street signage elevated 12ft. This location adds great value as it is fully equipped with smallwares and is close to being absolutely turnkey. Ingress/egress is sufficient and parking for 100 cars surrounds the building. The exterior of the building has a canopy extending the length of the building for exterior Florida style dining.
This location is a great value. Capuring 4/10 of 1% of passing motorists will achieve projected revenues outlined in the financial section of the business plan.
This is a rare opportunity to launch operations in a prime location on US1.
Menu
Here is a sample of some of our menu items:
- Bourbon Street Shrimp
- White Cheddar Stuffed Mushrooms
- Boneless Buffalo Wings
- Spinach & Artickoke Dip
- French Onion
- Loaded Baked Potato Soup
- Masters Signature Grilled Chicken Salad
- Chicken Cobb Salad
- Chicken Caeser Salad
- Peppered sirloin Salad
- Burgers, Wraps, Sandwiches
- Handmade 1/2 lb US Prime Burgers
- Buffalo Chicken Wrap
- Portobello Mushroom Sandwich
- 8oz Filet
- 11oz NY Strip
- Chop Steak
- Flat Iron Steak
- Bone-In Ribeye
- Parmesan Crusted Chicken
- Portobello Chicken
- BBQ Chicken
- BBQ Babyback Ribs, Lobster Tail, Grilled Mahi-Mahi and more.
Our menu is simple, freshly prepared and affordable. Our culinary professional has developed the menu and plate costs and price points have been developed with the assistance of our Sysco Representative.
Atmosphere
The theme of this concept celebrates individuals who are considered Masters in thier particular field or profession. The decore of masters will represent individuals in the fields of art, lifetime achievement, sports and entertainment. The concept has three connected atmospheres with a centralized theme.
The facility has three dining areas:
A Sports Bar decorated with artifacts celebrating individuals and teams considered Masters of sports.
An Entertainment Dining Room with a stage and decorated to celebrate Masters of entertainment.
A dining room celebrating Master Artists and thier works.
The reception and common areas will celebrate individual lifetime achievement.
The Mens room will celebrate men that invented items generally related to men such as the Harley Davidson, Baseball, Etc.
The ladies room will celebrate significant women of the past and present.
Artifacts for the decore include portraits, action photographs and items of culture related to each theme.
The drink menu and drink specials will celebrate Master Breweries, distilleries and vintners.
Marketing and promotion efforts will include community involvement and outreach. Local teachers of the month, exceptional performances and achievements by students in local schools, as well as local heros and philanthropists will be rewarded through Masters charitable orginization" Community Masters".
Marketing Strategy
An electronic media reader board will be installed with the new street signage. This will help attract a percentage of the 71,000 vehicles that pass the location each day. ( The SBA stats on ROI for these boards makes this a viable investment due to the traffic volume at this location)
Zip zone direct mail will be used to communicate with Masters select demographic of 35 and up.
Social media including Facebook, Twitter, entertainment listings and a customer database will be a constant campaign.
Promotion of Masters entertainment schedule will assist with driving guest counts.
Financial Plan
Start up expenses are projected to be $170,000. We are able to start up at this location with a minimum investment due to the current state of the facility. The previous operators literaly turned off the lights New Years Eve 2013 and then never opened again. Everything is ready to operate. The Tables are still set and prepared for service.
The partners currently have $200K for this project. Obtaining an additional $100K will provide the funds to become operational, $30K for operating cash and $100k contingency fund.
Conservative sales projections and pre-tax profits are as follows:
Year 1
Net Sales $2.03M
Pre-tax Profit $213K
Year 2
Net $2.18M
Pre-tax $231K
Year 3
Net $2.3M
Pre-tax $251K
Management
John Peters
General Manager/Managing Partner
John Eric Peters attended Purdue University as a Lambda Chi Alpha and graduated NorthWood University in 1991 with an Associates degree in finance and a Bachelor degree in business administration specializing in marketing. Continuing education includes training for a series 6 securities license, which he attained in 1995.
While attending college in 1988, John worked his way up the ranks from bus boy at TGI Fridays where he became aware of his passion for the restaurant industry. He left TGI Fridays as an Assistant General Manager after many years of dedicated performance.
In 1996 John was offered a position with Longhorn Steakhouse and quickly became the General Manager in Jensen Beach, Florida.
In 2002 John was offered and accepted a five-year Managing Partner contract with Longhorn Steakhouse.
Under John’s leadership, Longhorn Steakhouse in Jensen Beach, Florida enjoyed record breaking sales revenues and guest volume.
John won many awards for his performance as General Manager/Managing Partner including the prestigious Darden Restaurants’ “Diamond Club Award” for operational excellence.
Upon completion of his contract, John was offered the opportunity to open and operate the Longhorn Steakhouse in Port Saint Lucie, Florida at Tradition as the General Manager.
The Tradition location experienced three successful years of growth and profits with John’s guidance.
John is currently the General Manager of Applebee’s in Stuart, Florida where he has increased profits up to ten fold on negative sales growth due to his exacting operational standards.
Ramond Settele
Director of Culinary Operations
Ray Settele joined the Navy after graduating High School where he began his career as a food management specialist. During his service, Ray learned important basics of hospitality management such as sanitation, guest service, product ordering and budgeting.
Shortly afrter his honorable discharge in 1986, Ray became a line cook for The Old Grist Mill Tavern in Seekonk, Ma where he quickly rose through the ranks to become the Kitchen Manager.
In 1990, Ray transferred to The Capital Grille inProvidence, RI where he enjoy having the priveledge of working as Sous Chef undder Executive Chef, Louis Brilhante.
Rays talents and dedication to his craft did not go unnoticed. In 1993, Ned Grace, founder of Old Grist Mill Tavern and The Capital Grille, hand selected Ray as the Kitchen Manager to open their newest venture, Bugaboo Creek Steakhouse. Ray excelled in this position and was runner-up for Manager-of_the-Year. Rays efforts assisted with the location winning multiple awards including "Best New Restaurant".
In 1996 Ray was presented with an opportunity to work for 99 Restaurant & Pub. His skills were challenged going into a store that had remained unprofitable since its Grand Opening three years prior to his arrival. After re-training the staff, streamlining systems to improve operations and eighteen months time the store began to turn a profit.
After moving to Florida in 1998, Ray began with Longhorn Steakhouse where his skills were recognized and rewarded with the the position of Divisional Culinary Captain where his responsibilities included heading up operations of fifty five Kitchens.
Ray has now enjoyed fourteen years of exemplary performance with Longhorn Steakhouse with many awards and recognition including Darden Restaurants prestigious "Diamond Club Award" for being "The Best of the Best".
More Info
We have developed an operational business plan, Financial strategy and sales projections, training manuals for the front of house and back of house, full lunch and dinner Menu, plate and beverage cost/profit/pricing analysis, concept brand and much more.
