Take Five Sports Bar and Grill has established a successful presence in the food and beverage service industry. The flagship location in suburban Anytown (Medlock Bridge) will gross in excess of $2 million in sales in its first year of operation, ending July 1996. First year operations will produce a net profit of $445,000. This will be generated from an investment of $625,000 in initial capital. Since 10 months of operations have already been completed the confidence level for final first year numbers is extremely high. The first 10 months of start-up costs, sales revenues, and operating expenses are actual.This restaurant industry is very large and sometimes hard to get exact numbers. There are many categories of restaurants so I outlined Services sector and the restaurant industry according to Yahoo finance. “The nation's 900,000 restaurants should hit $476 billion in sales in 2005, according to the National Restaurant Association's 2005 Restaurant Industry Forecast”. Restaurants employ12.2 million, this is 9% of the workforce in the United States, and the industry is the largest employer besides government. These numbers include single owner restaurants to the largest franchises in the world.
The growth trends for the restaurant industry are forecast to advance 4.9% in 2005. Analyst predict that the U.S. Restaurant Industry which created, on average, about 270,000 new jobs per year during the last 10 years is on track to add 1.8 million new jobs during the next 10 years. On a typical day, the industry will post average sales of $1.3 billion.
The industry trends to watch:
•Greater use of technology and worker training as a means to boost productivity and efficiency. •Continued increased focus on healthy lifestyles and restaurants providing customers with choices and customization. •Increased upgrades and improvements in decor and becoming environmentally friendly.
The sports bar & grill will have to serve several market sectors. We will have a family