Eddies Southern B-B-Q will be the latest hot spot in town. The restaurant will introduce a unique process of preparing barbecues to exit the taste buds for all. With the restaurant’s unique barbecues prepared using the vinegar-based sauce as opposed to the common tomato-based barbecues, barbecue lovers will be introduced to a revolutionary product currently available only in the southern US States. The meat will be uniquely marinated and rubbed on some selected spices before grilling. This will ensure it surpasses the quality expected by customers. The experience at the restaurant will be unique and unforgettable for barbecue lovers (Gatout, 2009, Para 2).
The Restaurant will also have other exciting snacks, beverages and fast foods on its menu. The defining menu item will however be the Southern barbecue (Chicken or Beef). Others will be ribs, beef briskets and buffalo wings. Deserts will include sweet potato pies and cheesecakes (TheProduct.com, 2009, Para 5).
The restaurant’s tagline will be “Excite your taste buds at Eddie’s!” The main reason is to paint the picture of a new unique entry into the market. It will offer the best prices by applying the most efficient processes in preparation and management. On formation, the restaurant intends to hire some of the best chefs from the southern states of the US who will bring in bring in great expertise in the preparation of the products.
A great deal of research on the market has proved that young people prefer fast foods and among the many existing restaurants in the city, only the top-notch five-star restaurants offer southern barbecues.
The success of the restaurant will depend heavily on the attainment of royal customers who will be impressed by the new taste of the southern barbecue. This is because the southern barbecue is the main unique product being introduced. To this end, a special expert chef will be hired and remunerated mainly based on the level of acceptance the barbecue receives from customers. The ability to capture a sizeable market share in the barbecue market will largely contribute to the success of the restaurant.
The southern barbecue will be introduced to the market at the same price as other barbecues in the market through its preparation is more costly. The reason is to give provide an opportunity to all willing barbecue customers to taste it without having to pay extra amounts. This will be very effective in assessing the acceptability of the product and also give insights on areas of improvement prior to the introduction of the real price of the barbecue which is a little higher (BPlans.com, 2009, Para 4).
Secondly, as a marketing strategy, a day will be selected on which an offer for discounts on the southern barbecue will be operating. A “buy one get one free” promotion will be very effective in introducing the exciting product in the city. On the launching date, the southern barbecue will also be offered at half the price as part of the strategy to ensure wider acceptance.
Customer care is also expected to be the best in the restaurants’ category. Hiring and training of employees will be mainly geared towards ensuring the best possible services are offered at the restaurant.
The restaurant’s management will comprise of Mr. Robert Claire as the overall manager of the restaurant. He is an experienced manager in the hotel industry having worked in a wide range of positions in the hotel industry in the UK. He holds a Master’s degree in hotel management. He is also the sole owner. His two assistants will also be experienced bachelor degree holders in hotel management and business administration.
The initial capital has been estimated at $800,000. This is due to the high cost of importing the best quality grills and other equipment as well as the advertising budgets including the initial promotions to popularise the brand.
On successful introduction and popularisation of the new product, the restaurant will start an ambitious expansion program to all areas of the town in order to stay ahead of the competition. The expansion program will involve opening up more branches as well as franchising. This will provide more revenues and lead to a very fast rate of growth for the firm.
Financial projections show that the restaurant will break even in the second year of operation when net profits are expected to be in the range of $45 000. The third-year net profits are expected to rise to over $70000. The expansion program is expected to be started three years from the time of opening of the restaurant. The expansion will add to the incomes and by the fifth year, the net profit is expected to rise to over $500, 000 (Planware, 2009, Para 6).
Strong partnerships with restaurants making the same products especially in Southern US will be forged with the main aim of establishing the best quality and best priced raw materials for preparing the vinegar-based barbecues as well as the recent and most effective technologies used (Susan, 2009, Para 3).
With the dedicated management, staff, and the new fascinating product on offer, Eddies Southern B-B-Q is truly posed to become the most successful restaurant in town.
Reference
BPlans.com (2009). Global Marketing Business Plan. Web.
Gatout, (2009). Walker’s Southern Style BBQ. Web.
Planware, (2009). Business Planning Papers: Preparing Financial Projections. Web.
Susan, W. (2009). Writing executive Summaries. About.com. Web.
TheProduct.com. (2009). Product diversification. Marketing Problem solving. Web.