The Stone Oak Sports Bar & Grille has been established out of a need to fill a niche in the Borne, Michigan, market. Currently, there are no major chain restaurants located within one mile of our proposed location and there are only three bar licenses, like the one our restaurant has, in Borne giving us a solid competitive advantage. The Stone Oak Sports Bar & Grille does anticipate competition emerging in this area to meet demand. However, we hope to solidly establish ourselves in this market in a position of dominance by serving the best in food and entertainment.
Furthermore, our strategic alliance with Nick Parrot’s Pizza will be vital to our success. Utilizing this cross promotion will give our restaurant a competitive advantage. Today, Borne is one of Michigan fastest-growing cities, and is blossoming into a meticulously planned municipality. The population has mushroomed from 10,737 in 1995 to an estimated 96,000 today, with a new home completed almost every hour. Commercial development is booming, as well, boosting sales tax revenues from $3. 3 million in fiscal year 1996-97 to an estimated $23. Million in The state’s largest Wall- Mart Super Center, a sizeable Home Depot, Low’s Home Improvement Center and Target are the anchor tenants of two power retail developments strategically situated at the intersection of the city’s two main thoroughfares. For the past three decades, the restaurant industry has consistently posted yearly sales gains. Today’s consumers regard food prepared away from home as a necessity. Convenience, a need for colonization and gains in real disposable income has led consumers to spend more of their food dollars in restaurants.
Restaurant industry sales are expected to reach a record $476 billion in 900,000 restaurant locations in 2005, according to the National Restaurant Association’s 2005 Restaurant Industry Forecast. The projected annual sales would mean a solid 4. 9% increase over last year?and a total economic impact of over $1. 2 trillion, highlighting the restaurant industry’s critical role as a Job creator in the nation’s economy. Page 138 | Top of Article The restaurant industry is poised to add more than 1. 8 million Jobs over the next decade, with industry employment expected to rise from 12 million to 13. Million by 2014, according to National Restaurant Association projections based on U. S. Bureau of Labor Statistics data. Despite modest growth during the challenging economic environment earlier this decade, the restaurant industry added an average of new Sods a year Tort ten last II years, statistics snow. I Nat steady growth sales and Jobs makes the industry the nation’s largest private-sector employer. The industry’s 12 million employees represent nearly 9% of total U. S. Employment. The Stone Oak Sports Bar & Grille is the best choice for quality, well-known food, exceptional service, and atmosphere.
With the combined experience and knowledge of Mr.. Domino and Mr.. Sturgeon, The Stone Oak Sports Bar & Grille will easily come a highly lucrative and successful organization. Objectives The Stone Oak Sports Bar & Grille’s Main Objectives * To secure funding in the amount of $350,000 * To achieve revenues in excess of $1,000,000 in the first fiscal year, increasing to $1,200,000 in the fifth fiscal year Mission The Stone Oak Sports Bar & Grille will deliver the first and finest sports bar in our area.