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Majolica

Majolica. Past…Present….Future. Majolica. Quick Facts. BYOB New American Cuisine Using French Technique Chef/Owner – Andrew Deery Multiple Award Winner – Including 3 Bells from Craig LaBan 6.5 Years Old Financed Through Friends, Family, traditional Bank Debt 35 Seats. Quick Facts.

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Majolica

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  1. Majolica Past…Present….Future

  2. Majolica

  3. Quick Facts • BYOB • New American Cuisine Using French Technique • Chef/Owner – Andrew Deery • Multiple Award Winner – Including 3 Bells from Craig LaBan • 6.5 Years Old • Financed Through Friends, Family, traditional Bank Debt • 35 Seats

  4. Quick Facts • Open Wednesday – Sunday – Dinner Only • Average Customer Check +/- $40.00 • Business Dependent on Food Only Sales • Business Management Practices – Historically – Not Complicated • PR & Marketing Effort Nearly A Full-Time Job In Order To Keep Seats Full & Capitalize On Positive Reviews

  5. Past • Majolica opened in 2005 As A Vehicle To Showcase The Artistry & Craftsmanship Of Professional Chef Andrew Deery • The Restaurant Was Funded By A Combination Of Friends, Family & Bank Debt • From The Start, the Restaurant Garnered Positive Reviews From All Important Media Outlets – And Continues To Do So

  6. Present • Restaurant Runs As a “Week To Week” Entity, Highly Dependent On Strong Weekly “Cover Counts” • Over The Last 12 Months Basic “Business 101” Principles Have Been Strengthened In An Effort To Improve Day To Day Operations • All Expenses Are Closely Reviewed, Cut, Modified, Reined In And Monitored - Daily

  7. Present

  8. Present • Restaurant Currently Carries A Manageable Debt Load • With An All Food Concept…. Gross Profit Margin Expectation – 5-8% • PR & Marketing Budget Currently Less Than 2% of Monthly Sales • Chef/Owner Compensation At Minimum Level

  9. Present - Management • Increasing Business-Side Management – Hired Professional Business Manager • Increasing PR & Marketing Effort Through Greater Use Of Social Networking & Customer – Both Current & New - Outreach • Continuing “Affordable Fine Dining” Concept With Current Menu Format That Highlights Greater Choice And “Small Plates” – Stronger Messaging To Highlight “Value” Without Sacrificing Quality

  10. Present - Management • Capitalizing On The Stellar Nature of The “Andrew Deery/Majolica” Brand • Increase Andrew Deery’s Public Exposure • “Outside The Box” Initiatives To Increase Wednesday & Thursday “Covers” • More Private Parties – Market Exists • Business Function Outreach – Market Exists

  11. Present

  12. Present – Needs • Small “Cash Cushion” To Allow Majolica To Operate “Mistake – Free” • Cosmetic Changes/Improvements To Current Infrastructure To Gain Improved Ambiance & Increase Available Seating – Needed For Weekend Business • $12 - $15,000 Will Facilitate The Initiation Of Outlined Business Enhancement Plans

  13. Present – Idea – Dining Club • Offer Majolica’s Most Loyal, Consistent And Enthusiastic Customers The Opportunity To “Invest” In The Restaurant In A Manner That Facilitates Current Operational Improvement Goals AND Brings Value To The “True Supporters” Without The Risk Of Loss To Them

  14. Present – Dining Club Details • Upfront Dining Payment Schedule: • $1,000 = $1,500 Dining Credits • $1,500 = $2,250 Dining Credits • $2,000 = $3,000 Dining Credits Payment To Be Recorded On A Spreadsheet And Updated Weekly. Credits Do Not Include Tax & Gratuity.

  15. Present – Dining Club • Value @ Historic $40.00 Per Average Dining Ticket: • $1,500 Dining Credit = 38 Single Dinners • $2,250 Dining Credit = 56 Single Dinners • $3,000 Dining Credit = 75 Single Dinners Note: Credit Deductions Will Be Made Based On Actual Amount Of Food Consumed. “Averages” To Be Used For Comparison Only

  16. Present – Dining Club • “Mechanics”: • Dining Club Members Will Populate A “Master Spreadsheet”. • Deductions To Members “Account” Will Be Made Weekly For The Value Of The Food Ordered & Consumed At Majolica • An Email Outlining Member “Balance” Will Be Sent Weekly So That Members Can Monitor Credits

  17. Present – Dining Club

  18. Majolica - Future • What Should Be The Next “Iteration” Of Majolica ? • Concept ? • Location ? • Size ? • Liquor License ? • Amenities ? • Build On Brand – How ?

  19. Majolica - Future • A Project Encompassing The “Next Majolica” Is A 12 Month Process - Minimum • The “Next Majolica” Will Require Investment Outside Of Current Sources • The “Next Majolica” Will Need To Involve An Experienced Restaurant “Operating Partner” • The “Next Majolica” Will Need To Capitalize On Revenue Generated By Alcohol Sales & Corporate Business As Well As Traditional A La Carte

  20. Majolica - Future • Potential Investment Vehicles • Real Estate “Ownership” • Liquor License “Ownership” • Traditional Restaurant Business “Ownership”

  21. Questions

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