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Texas Woman’s University
                                     Applied Business Environment
                                           Business 5893-50




       Artemis
Contemporary Greek Cuisine
                                      ARTEMIS
                             CONTEMPORARY GREEK CUISINE
Executive Management Team




     Sharla Rose                                 Sommer Smith
Director of Accounting                           Assistant Chef


                             Lesley Ouyo
                         Director of Marketing
Executive Management Team




  Erika Caldwell                          Omolade Lawal-Solarin
Director of Finance                       Restaurant Supervisor


                      Andrea McCullough
                        Executive Chef
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.




                                                                   4
Artemis Mission Statement




                        5
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.




                                                                        6
The Market
             Andrea McCullough




                           7
Market Summary – Park Cities
                                   Park Cities
                                   Pop. 32,716




       Highland Park- Pop. 9,392                 University Park – Pop. 23,324
Source: www.census.gov                                                           8
Macro Demand Curves
   Potential, Addressable, & Capturable Market for Restaurant
                 Sales in the Dallas County Area
     5 Year Annual Restaurant Sales with 5% Annual growth
                                     (In Thousands of Dollars)
         Year     Potential Market      Addressable Market   Capturable Market   % of Market

                                                                                    share

          1       $1,493,588,840          $32,317,530          $16,158,765         .50%

          2       $2,240,383,260          $48,476,295          $36,357,221         .75%

          3       $3,360,574,890          $72,714,443          $72,714,443         1.00%

          4       $5,040,862,335          $109,071,664        $136,339,580         1.25%

          5       $7,561,293,502          $163,607,496        $245,411,244         1.50%
                                                                                               9
Source: www.census.org
Drivers

                                       Consumers looking for
                                          healthy options




                                              Offering locally
                    Drivers                   produce items




                                               Payment options
                                       (smartphone payment app., electronic payment
                                                     system at table)




Source: www.restaurant.org                                                  10
Source: www.restaurant.org   ‹#›
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
                                                                                                                                12
Projected Results of Operations
                        Erika Caldwell




                                         13
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
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
                                               15
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).


                                                                   16
Exit Strategy & Summary
                   Sommer Smith




                                  17
Exit Strategy



                  Let it run
                  dry
          Merge

Private
 Sale

                               18
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.


                                                                   19
Questions




            20
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/


                                                                         21

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Artemis Greek Restaruant Final

  • 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. 4
  • 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. 6
  • 7. The Market Andrea McCullough 7
  • 8. Market Summary – Park Cities Park Cities Pop. 32,716 Highland Park- Pop. 9,392 University Park – Pop. 23,324 Source: www.census.gov 8
  • 9. Macro Demand Curves Potential, Addressable, & Capturable Market for Restaurant Sales in the Dallas County Area 5 Year Annual Restaurant Sales with 5% Annual growth (In Thousands of Dollars) Year Potential Market Addressable Market Capturable Market % of Market share 1 $1,493,588,840 $32,317,530 $16,158,765 .50% 2 $2,240,383,260 $48,476,295 $36,357,221 .75% 3 $3,360,574,890 $72,714,443 $72,714,443 1.00% 4 $5,040,862,335 $109,071,664 $136,339,580 1.25% 5 $7,561,293,502 $163,607,496 $245,411,244 1.50% 9 Source: www.census.org
  • 10. Drivers Consumers looking for healthy options Offering locally Drivers produce items Payment options (smartphone payment app., electronic payment system at table) Source: www.restaurant.org 10
  • 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 12
  • 13. Projected Results of Operations Erika Caldwell 13
  • 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 15
  • 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). 16
  • 17. Exit Strategy & Summary Sommer Smith 17
  • 18. Exit Strategy Let it run dry Merge Private Sale 18
  • 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. 19
  • 20. Questions 20
  • 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/ 21

Notas del editor

  1. Artemis Contemporary Greek Bistro, LLC will serve a triune purpose by providing family, intimate, and patio dining, serving authentic Greek foods at reasonable prices.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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
  7. 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.