The best authentic Italian cuisine has now arrived in beautiful city of Orlando, FL; with delicious Italian entries served buffet style come one, come all to the best Italian food in the city. Papa Geo’s Restaurant is an all you eat Italian buffet, which serves various traditional Italian dishes such as pizza, different pasta combinations, but also soups and salads. Papa Geo’s Restaurant is a 3,500 square foot facility of pure Italy, able to hold up to 80 customers the restaurant have more than enough room for families of all sizes. Papa Geo’s restaurant will operate within the hours of 10 am to 9 pm, 7 days a week. With the population within our restaurant radius growing at a steady six percent per year, the company believes that this is the best opportunity to not only join the market, but also take control of the lack of delicious Italian cuisine within the area. Opening the restaurant do not come without its challenges with such major fast food competitors such as McDonalds, Taco Bell, and Wendy’s; every individual associated with Papa Geo’s understand that with this competitions the urgency of the company dedication to fresh Italian cuisine s must stay consistent. Papa Geo’s restaurant prides itself in having a clean facility, using fresh ingredients with of our dishes, but more importantly providing each customer an experience that will not only last for a day but a lifetime. With over $15,000 dollars being allocated in renovation no expense is too much to provide the best Italian cuisine in the city. Based on the company target audience which is roughly about 10,000 families within a 15 min radius of the restaurant, it is projected that within the second year of operation that the restaurant will be earning a minimum net income of 40,000 per year. This projection comes from estimating that an average family household within our 15 min radius has four individuals; with knowing this the company can estimate that within the restaurant 15 min radius there are roughly 40,000 potential consumers. If Papa Geo’s restaurant is able to bring in at least 15 percent of that population of potential customers within the restaurant 15 min radius, the restaurant will surpass the projected expectation of income earned yearly. With meals being an average of $7 dollars per person, customers can expect great Italian food, but also their drinks included within that price. Kids of all ages can come into Papa Geo’s and not only enjoy all you can eat delicious Italian entries, but also enjoy our 500 square foot gaming center. Your experience at Papa Geo’s will be like none other you have ever had, why fly over 12 hours to Italy for authentic Italian food when Papa Geo’s bring Italy to you.
Business Profile: Papa Geo’s – Restaurant
The vision of the entrepreneur is to create a single-location, sit-down Italian restaurant called Papa Geo’s. The goal is to generate an income of $40,000 per year, starting sometime in the second year of operation, as wells as profit that is at least 2% of sales.
a) Market Focus/Analysis
The restaurant targets middle to lower-middle class families with children, as well as adults and seniors, located in Orlando, Florida. The area within 15 minutes of the store has 10,000 families, mostly from lower to middle class neighborhoods. Average family size is 4 people per household. There is no direct competition; however, there are fast food restaurants like McDonald’s, Taco Bell and Wendy’s in the geographical target market. The lower to middle class population is growing at about 6% per year over the next five years in this area.
The product is Italian food served buffet style, in an all-you-can-eat format, with a salad bar, pizza, several different types of pasta with three or four types of sauces, soup, desserts, and a self-serve soda bar. The restaurant is also to have a 500 square foot gaming area which has game machines that children would be...