1. Texas Woman’s University
Applied Business Environment
Business 5893-50
Artemis
Contemporary Greek Cuisine
ARTEMIS
CONTEMPORARY GREEK CUISINE
2. Executive Management Team
Sharla Rose Sommer Smith
Director of Accounting Assistant Chef
Lesley Ouyo
Director of Marketing
3. Executive Management Team
Erika Caldwell Omolade Lawal-Solarin
Director of Finance Restaurant Supervisor
Andrea McCullough
Executive Chef
4. Executive Summary
The new start-up enterprise is called: “Artemis Contemporary
Greek Bistro”, LLC. The restaurant will be located in Park Cities area
near Lemmon Avenue. The name “Artemis” was one of the most widely
honored of the Ancient Greek Goddess deities. This is the concept that
Artemis will operate by.
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6. Problem Being Solved
Artemis will serve authentic Greek foods using only low fat low
cholesterol oils. The fruits and vegetables are locally grown while the
meats are from a safe, healthy, natural and nutritious grass-fed animals.
Artemis takes pride in cooking the right meals and is a great
alternative to fast foods choices. It satisfies the need of health conscience
customers looking for healthy alternatives.
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12. TOWS Analysis – High Level
STRENGTHS ST STRATEGIES
1. Serving authentic Greek Cuisine 1. Provide an alternative menu for vegans, vegetarians.
2. Serving healthy alternatives 2. Negotiate with local markets to get fresh produce
3. Prices are lower than competitors 3. Keep our margin costs down so we can offer competitive
4. Service is new to the area prices
WEAKNESSES WT STRATEGIES
1. Restaurant is new and not established 1. Increase public knowledge of restaurant on tweeter, face
2. Training new staff and chefs book, and other social media
3. Offer a menu that is already available on the market 2. Create an effective training strategy
4. Limited funds available
OPPORTUNITIES SO STRATEGIES
1. Smart phone app payment system 1. Set-up phone app payment system
2. Offer home delivery 2. Offer discount rates to business dinners
3. No other famous Greek restaurant in the area 3. Having weekly coupons in newspaper
4. Room for expansion
THREATS WO STRATEGIES
1. Increase in food/alcohol prices 1. Build strong relationship with vendors
2. Existing competitor can lower price 2. Set-up home delivery
3. Better advertising from competitors
4. Down turn in economy affecting the ability to eat out as
much
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14. Projected Results of Operations
Key Performance Indicator -UNAUDITED NON-GAAP
( in Thousands of Dollars)
Year Year 1 Year 2 Year 3 Year 4 Year 5
$1,211,088 $1,279,204 $1,341,260 $1,406,670
Revenue $707,012
$398,407 $406,976 $415,276 $423,597
COGS $371,416
$812,681 $872,228 $925,984 $983,073
Gross Margin $335,596
$32,173 $309,405 $626,035 $984,241
Cash Balance (233,193)
Net Income (after taxes) ($105,125) $250,357 $263,096 $303,689 $346,357
Number of Employees 30 30 31 31 31
Revenue Per Employee $35,351 $60,554 $63,960 $67,063 $117,223
Expenses Per Employee $27,549 $27,254 $28,974 $29,189 $29,424
Gross Margin %47 67% 68% 69% 70%
Debt Ratio 195% 58% 31% 19% 15%
Current Ratio N/A 1:1 7:1 13:1 20:1
Return on Assets -96% 72% 44%
Source: www.restaurant.org 34% 29%14
15. Sources and Uses of Funds
Use of Funds
Total Start-Up Expenses $117,549
Total Start-Up Assets $193,900
Total Required Start-Up Costs $311,449
SBA Loan $200,000
Owner's Investment $111,449
Total Required Start-Up Funding $311,449
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16. End of Year 5 Estimated Enterprise
As owners, knowing the estimated value of the business is
important regardless of what the company’s future business plans
are. Whether the owners are contemplating selling the restaurant or
not. Knowing the value of Artemis is important for a variety of
situations including: Financing, partnership dissolution, marital
changes, insurance settlements, and death of owner.
At the end of the fifth year, the forecast for Artemis worth
will be approximately $2.1M. (Estimated 5th Year Net Income
$346,357 discounted at a 10% NPV (x.62) and then a 10X P/E
multiplier is applied).
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19. Summary
Artemis Contemporary Bistro is a Limited Liability Company
that is operated by several owners. These owners have the knowledge
and background experience to not only be successful restaurant owners
but able to endure the many challenges that comes with operating a new
business. Artemis will be designed to create a Roman Greek experience
so that customers can enjoy while providing fresh and appetizing foods
that are healthy and reasonably priced. The many customers that Artemis
intends to capture will not only enjoy the many fine delicacies but
become apart of the Artemis family of Bistros that will endure for years
to come.
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21. References
• Park Cities. (2008). Retrieved 07 16, 2012, from
http://www.dallasrelo.com/parkcities.html
• City data.com. (2010). Retrieved 07 16, 2012, from highland park, Texas:
http://www.city-data.com/city/Highland-Park-Texas.html
• Sperlings best places. (2011). Retrieved 07 16, 2012, from People in
highland park:
http://www.bestplaces.net/people/city/texas/highland_park
• DFW.com. (2012). Retrieved 07 11, 2012, from Texans dine out more
than any other state, survey says:
http://www.dfw.com/2012/03/08/589114/texans-dine-out-more-than-
any.html
• National Restaurant Association. (2012). Retrieved 07 11, 2012, from
Trends & Forecasts: http://www.restaurant.org/research/forecast/
• United States Census Bureau. (2012). Retrieved 07 11, 2012, from
Monthly & Annual Retail Sales: http://www.census.gov/retail/
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Notas del editor
Artemis Contemporary Greek Bistro, LLC will serve a triune purpose by providing family, intimate, and patio dining, serving authentic Greek foods at reasonable prices.
This will be vegetarians, vegans, and other health conscience people who are tired of the regular fast food options and is looking for healthier options at reasonable prices.
In the Park Cities area the restaurant will be located on or around Lemmon Ave. The Park Cities market is filled with competitors of exactly 4,830 restaurants ranging from Greek cafés, family buffets fast food restaurants and coffee houses.
Assuming that 28% of the total of the household pop. in Dallas county (797,227) dine out 4 times a week.Assuming that each customer pays at least $32.17 per meal.Assuming that we can capture at least 25% of the market share.
3 in 4 adults say they are trying to eat healthier now at restaurants. 72 Percent of adults who said they are morelikely to visit a restaurant that offers locally producedfood items. 52 Percent of adults who said they would belikely to utilize an electronic payment system attheir table if it was offered by a full servicerestaurant.
Artemis will add value to its restaurant by offering exceptional valet service, exceptional service quality (from supervisors, hosts, and waiters), exceptional food quality,exceptional beverage qualityexceptional atmosphereproviding exceptional entertainment. This will be achieved by becoming customer focused while maintaining quality ,working together as a team, and being
Private Sale – As mentioned earlier, at the end of third year Artemis will have a positive cash flow in excess of $200,000. At the same time high initial debt is reduced, gross profit is increasing, and a market share has been established. The owner’s at this future time may not be interested in considering expansion and look for potential buyers.Merge- If Artemis has the opportunity to merge with an existing company that offers Greek foods then this would be an alternate option with the owner possibly staying on as a advisor.Let it run dry – In the years before we plan to exit, we can increase our personal salary and pay ourselves bonuses. We will settle any remaining debt, and then we will close the doors of our business and liquidate any remaining assets.