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Lite the Fire

Lite the Fire Kay Saeteurn Evelina Lindgren Earl Roman Las Vegas, Nevada strip Outside Caesar’s Palace Caesar’s Palace Forum Why Caesar’s Palace? - Tourist attraction - Central to Vegas: includes casinos and other restaurants

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Lite the Fire

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  1. Lite the Fire Kay Saeteurn Evelina Lindgren Earl Roman

  2. Las Vegas, Nevada strip

  3. Outside Caesar’s Palace

  4. Caesar’s Palace Forum Why Caesar’s Palace? - Tourist attraction - Central to Vegas: includes casinos and other restaurants - Has a “Classical fun” environment, which fits in with our restaurant theme - includes outer seating area

  5. Leasing Cost • Entire restaurant = 3,750 sq. ft. • Cost = $200 per sq. ft. • Restaurant Loan of $750,000 • large area holds our three concepts: bar, restaurant, and gaming area • closest match to our vision (floor plan)

  6. Restaurant overview • Restaurant holds 70 customers serving organic foods • Alcohol/Wine Bar holds approx. 15 • 15 different slot machines each costing $560 each. • restricted license (15 slot machines or less) cost $150 per machine • Why 15 slot machines? Based on our research, casinos make a large amount of revenue from their slot machines alone.

  7. Food will have the option of serving flambé style • Our alcohol/wine bar has flare bartenders

  8. Our Menu’s and Prices Main Courses Wolfs Salad  $16.95   Filet Mignon $24.95Cider Cured Herb Pork loin $21.95Steak Diane  $26.95Northwest Sockeye Salmon $20.95Vegan Delight $19.95Seasonal Pasta $15.95Classic Caesar Salad for Two $14.95 Appetizers Butternut Squash and Sage Soup with Sage Breadcrumbs $7.95 Spicy Tomato Soup $5.95 Garlic Roasted Potato Skins $6.95 Taglierini with Morels, Asparagus, and Nasturtiums $7.95 Caviar and Blinis $6.95 Desserts Carrot Ginger Cake $4.95  Blood Orange Custard Cake (Seasonal) $5.95  Upside Down Caramelized Banana Chocolate Cake $5.95  Mango Kulfi $4.95  Organic Tofu Chocolate Mousse $5.95

  9. Promotion and Advertisement • We will be making a website where customers can download our menus and make reservations • Advertise our new restaurant in hotel coupon books to jump start our business

  10. Worker Benefits 5 chef / 4 bartenders / 2 security guards / 4 line chefs / 3 dishwashers

  11. Management • LLC company • Owner protection from law suits • Avoid double taxation • Not required to sell stocks • Hours of operation • Bar: 5pm to 5am • Restaurant: 5pm – 1am

  12. Annual Income Statement • Net income for the “restaurant” is higher due to the larger seating capacity. • Total revenue for the wine and alcohol (including those at the restaurant and wine tasting) made the greatest revenue. • The gaming area did not make the most revenue because after the first year, all the slot machines were bought on loan and had to be paid off. • Annual net income for entire restaurant is $1,162,639

  13. Annual Cash Flow Sheet • After making minor typos on our income statement, our net cash flow $394,119 • The Bar and Gaming area generated a negative cash flow for the first year, because they had the most equipment purchased on a loan. • we predict that within the next three years, we will generate a positive cash flow for all three areas.

  14. Recommendations After having carefully evaluated all the essential areas of our restaurant, including accounting, finance, operations promotion and management, we can undoubtedly recommend investing in this business. We have strong financial calculations and rewarding concepts. An investment in the business would be wise since; once we have managed to run a successful business, “Lite the Fire” will continue to grow successfully. Our ambition is to, in one way or another, have this business progress and mature, while promoting a healthier lifestyle. We want to expand our business idea and offer it to customers, not only in Vegas, but in other states. Since our concept is based on Vegas, an extension to other cities would most likely mean that the original concept would slightly be altered to meet the state’s standards. However, we would still keep the focus on the organic food and the entertainment no matter where we decide to expand.

  15. QUESTIONS??

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