Phase 2 IMOWNER Final Project Marketing, Human Resources, Operations Due (my topic is in the file)

Phase 2 IMOWNER Final Project Marketing, Human Resources, Operations (6 points) Submit written draft version of the project sections lI, III, IV. This draft will then be returned with suggested comments to revise for the final presentation. Section Points II. Marketing 2 III. Operations 2 IV. Human Resources 2 II. Marketing (3 - 6 pages) A. Major marketing objectives and goals – How do you want to grow your concept? i. What do you ultimately want to do – how many units and what areas, regions, or countries? ii. Macro growth goals for 2 - 5 years; 5 - 10 years; 11 - 20 years: e.g., keep the same concept and grow it; or expand to a second or third related concept B. Who are your top 4 - 5 competitors, Aka competitive set – similar location, facilities, amenities, service levels, and price point; a. What is your competitive advantage? Perform a SWOT analysis: What are the Strengths and Weaknesses of your competitors and your concept; and what are the Opportunities and Threats of the market in general. C. One-page product advertisement: mock-up of an ad (you create) for a website or magazine D. Marketing plan: i. Product/service description – 1. What is it? 2. What does it do for the guest? 3. Why does it matter to them - Why should they choose your concept versus their usual choice? ii. Describe and discuss the target market for the product or service: 1. Geographics – where do the guests reside, and how will they get to you (e.g., walk, car, train/subway, plane)? 2. Demographics - age, sex, household income, marital status, ethnicity, etc. 3. Psychographics – what motivates a guest to visit/purchase (e.g., convenience, romantic, time-saver, inexpensive, prestige, unique product/service, health) 4. Behavior – what is the reason for day/time usage (e.g., late night, breakfast, brunch, weekends, weekdays, holidays) iii. Product pricing strategy - recommended prices? How do you position your establishment against your competitive set? iv. Start-up costs - pre-opening marketing, competitive research (visits to the comp set), soft-opening (invite friends and family for a practice day a week ahead of a hard opening) to “work-out the kinks” III. Operations (3 - 6 pages) A. Restaurant Physical Plant (refer to webcourses article: Commercial Design and Floor Plans) i. External Basic layout (aerial view) of the restaurant with landscaping, parking area, valet – if appropriate, loading area and dumpster Provide a front elevation of the exterior and an exterior (stock) photo including signage (dub-in a sign on top of the existing sign) ii. Internal (Utilize Excel, SmartDraw.com, Floorplanner.com, Conceptdraw.com, Sim or other appropriate design software) Provide the basic layout and design (front of the house and heart of the house) and interior stock photo/s. Prepare an equipment list, dividing the restaurant into areas/zones: Front of the House and Heart of the House Front of the House (FOH) - service area: 60-70% of total floor space Reception/Service Area Equipment (use excel or other appropriate software for layout) Label the equipment (name and number) State number of seats/booths/stools – indoor/outdoor (hint: 10-14 sq. ft. /seat) Explain your thought process for placement, types, zone Information systems – POS systems; software & hardware Add necessary specialty equipment (e.g., Widescreen TVs in a sports bar); reservations equipment (e.g., Open Table) Waiting area; bar; restrooms; music; host center; wait staff stations (e.g., utensils, beverages) Must show a visual dining room layout (8” X 11”) with each piece of equipment listed * Show $$$$ spent on each major piece of FOH Furniture, Fixture and Equipment (FF&E) and Total Heart of the House (HOH) aka Back of the House (BOH) - production area and administration: 30-40% of total floor space Kitchen, restrooms, and offices (use appropriate software for layout) Production area: show a visual kitchen layout (8” X 11”) – hot/cold stations; holding station, prep tables; 3-compartment prep sink; dish room; employee hand sink; dry storage; freezer; refrigerator (use appropriate software for layout) Identify/label equipment required to operate the restaurant, based on the menu (e.g., broiler, convection oven) Explain your thought process for equipment placement, types, zones ** Show $$$$ spent on each major piece of HOH Furniture, Fixture and Equipment (FF&E) iii. Total cost for operational items: Add: ** FOH and HOH above lV. Human Resources (1 page) A. Organizational Chart: Identify each working position - titles and numbers of each position (e.g., 2 host/ess, 3 cooks, 1 assistant manager…….) B. List the annual salary for managers, and hourly rates per each non-manager (DO NOT include your salary) C. Monthly salaries; Divide the total annual salaries of management by 12 months to calculate the monthly salaries. D. List the number of operational hours per typical day (see I. C. above) E. Identify and add the number of employees working on a typical day, and multiply the hours times the hourly wage (e.g., total hours of servers’ labor for a breakfast and lunch combined – 50 hours times $7.00 per hour = $350 servers' wages per day. Total all positions’ wages per day to calculate the total hourly wages paid per day F. Non-management Payroll: Multiply the total wages paid per day times 30 days (average days per month) and add the monthly salaries, which will equal the total payroll per typical month G. Benefits: Multiply the total monthly payroll (management and non-management) times 1.25 to account for benefits (e.g., insurance, meals, payroll taxes, uniforms) H. Monthly payroll and benefits Add monthly salaries, hourly wages and benefits to find Total Payroll and benefits for a typical month Once I receive this, I will provide feedback, so you can adjust when you combine it with the other phases and send as a total package at the end of the term.