Perfect for a New England Vacation!
Transcript of Perfect for a New England Vacation!
What Is The Granite State Inn and Restaurant?
The Granite State Inn and Restaurant will be located in New England so that visitors may enjoy the best
that New England can offer every season.
The Inn will house 10 impeccably clean rooms:• 7 Regular
• 2 Executive
• 1 Presidential
The Restaurant will be able to hold 40 people in it’s dining area.
Perfect for a New England vacation!
Business Idea
• The main idea is provide a friendly, clean environment for guests and diners.
• Rooms and meals will be affordable.
• Staff will focus on providing a romantic and enjoyable atmosphere to its guests and diners.
• Concierge will offer local maps and suggestions on where to shop, dine, and site-see.
Perfect for a New England vacation!
What Types of Rooms Will Be Offered?
Regular Rooms
•Smaller sized
•Great for families or a single person
•Queen size bed or two double beds
•Desk
•TV
•Couch
•Closet
•Full Bathroom
Executive Rooms
•Medium sized
•Great for families or a couple
•King sized bed or queen sized bed and pull out couch
•Desk
•TV
•Closet
•Couch
•Mini-refrigerator
•Full Bathroom
Presidential Room
•Largest room
•Perfect for a romantic weekend!
•California King bed
•Couch
•Coffee table
•Desk
•TV
•DVD player
•Closet
•Dining table
•Small kitchen complete with microwave, sink, and refrigerator
•Full Bathroom with double sinks, a Jacuzzi tub/ shower
ALL Rooms are Non-Smoking
Perfect for a New England vacation!
Amenities and Services
• Room Service• Turndown Service• Complimentary Pillow• Chocolates• Complimentary High-Speed Internet• Reduced Meal Prices in The Granite State Restaurant• Balcony• Private Bathrooms• In-room Coffee
Perfect for a New England vacation!
Location
The Granite State Inn & Restaurant will be located in Wilton, NH.
Perfect for a New England vacation!
How Is The Granite State Inn and Restaurant Different From the Many Other
Inns?• The Granite State Inn has an in house restaurant that can
provide food for guests and the general public.
• The Granite State Inn has choices for rooms instead of one standard room.
• The Granite State Inn will provide a romantic environment with amix of décor to suite everyone’s tastes.
Perfect for a New England vacation!
Name of Company Product/Service Price Quality
Stepping Stones Bed & Breakfast
Wilton, NHBed and Breakfast $65-
$85
Full Breakfast included;
Home baking
Birchwood Inn
Temple, NHInn $85-
$110
Breakfast included,
Dining area / Tavern
Bedford Village InnBedford, NH
Inn $210-$350
Awarded for Hospitality and Dining Excellence
Crowne Plaza
Nashua, NHHotel
$130-$250 Lounge and
Pool
Who Are Potential Competitors?
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What Is The Competitive Advantage?
• Many Room Options
• Dining area on the premises
• Convenient Dining Hours
• Great Tourism Location
• Close to Airport
• Access to city attractions and town attractions
• Many amenities
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What is the Business Organizational Structure?
The Granite State Inn and Restaurant will open as a sole proprietorship.
After 5 years, if the business is not as successful as I wish, I will consider
taking on a partner.
Perfect for a New England vacation!
Why should the Granite State Inn open as a sole proprietorship?
• I want to be able to open the business by making all of the decisions.
• A partnership means a friendship, and if a partnership goes sour, so will the friendship.
• I have enough faith in myself that I can open and run my business on my own.
Perfect for a New England vacation!
Why Is There A Possibility of A Partnership Later?
• If my business is unsuccessful, I will consider taking on a partner to gain a larger spectrum of ideas.
• If the company needs financial support, a partnership would disperse the financial burden.
Perfect for a New England vacation!
What does Sole Proprietorship for The Granite State Inn and
Restaurant Mean?
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• Personal Liability: Fully covered personal liability insurance to protect all of my personal assets
• Sharing the profits: I have complete ownership and control of The Granite State Inn and Restaurant. I make the final decision on all business opportunities and keep all of the profits
• Taxes on the Income: Personal Tax Rate (Lowest Tax Rate)• Sharing of Ideas: I will be the sole contributor of all ideas of the business. I
will take classes in marketing, finance, management, and accounting.• Dissolution of the business: After 5 years if my business is not successful,
I will consider taking on a partner. If something happens to me, I would give the business to my husband.
• Raising Capital for future expansion: After running my business for about 10 years successfully, I will consider taking some of my profits and invest them back into the business for expansions, additions, upgrades, and refurbishments.
• Ownership: Sarah Santiago
What Type of Business Is The Granite State Inn and Restaurant?
Service Retail Business.
Perfect for a New England vacation!
Who Is The Target Customer?
• Couples looking for a romantic weekend.• Potential customers can be of any social
status; however, due to room rates, the customer will probably be middle class to upper middle class.
• The Granite State Inn is surrounded by a romantic atmosphere it is aiming to bring in adults of both genders
Perfect for a New England vacation!
What Needs or Wants Will The Granite State Inn Fulfill?
• The Granite State Inn will be able to offer rooms to anyone who may be visiting the area and needs a room.
• The Granite State Inn will be able to provide a friendly, romantic, and clean environment to any guest who may want it.
Perfect for a New England vacation!
What Needs or Wants Will The Granite State Restaurant Fulfill?
• The Granite State Restaurant will be able to offer meals to anyone who is staying in the Inn or anyone from the general public.
• The Granite State Restaurant will be able to provide an array of tasty meals to any diner.
Perfect for a New England vacation!
Market Research Results• Potential guests wanted prices ranging from $150- $250.• Potential Guest would rather stay at a B&B instead of an inn,
hotel, or motel.• Most potential guests would not travel during the holidays.• Most potential guests would like an antique décor paired with a
romantic atmosphere.• Potential diners would like to dine in a casual atmosphere inside
of the establishment they are staying at.• Potential diners would be most likely to pay $15- $20 per
person.• When searching for vacation ideas, most people look on travel
websites over the internet.
Perfect for a New England vacation!
Reasons for Travel
Vacation Family
Top Travel Spots
Northwest Mountain Region Western Pacific RegionSouthwest Region Southern RegionCenteral Region Great Lakes RegionEastern Region New England Region
Survey Results
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Where to stay?
Hotel Motel Inn B&B
Prices
$50-$100 $100-$150$150-$200 $200-$250
Survey Results
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Looking for Holiday Deals?
Yes No
Holiday Travel
Yes No
Survey Results
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Atmosphere
Family Friendly Romantic Business No Answer
Decor
Antique/ Victorian ModernLodge Style No preferanceNo Answer
Survey Results
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Where to dine?
Outside Inside Both
Dining Cost
$5-$10 $10-$15 $15-$20 $20-$25+
Food Preference
Home-Style ElegantCasual No answer
Survey Results
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Travel Resources
Search Engines Travel Websites Travel AgencyAAA Books Friends Research
Advertisement Methods
Newspaper ad Magazine ArticleFlier Internet
Survey Results
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Influence of Market Researchon Prior Business Plan
• The Granite State Inn will offer guests a romantic environment with antique décor.
• Rooms will be priced from $150-$300.• The Granite State Inn will offer holiday
and lengthy stay deals.• Diners will have many food options
priced around $15 per person.
Perfect for a New England vacation!
Sales Presentation
Looking for a place to stay for a romantic weekend? Do you look for friendly service, cozy rooms, and great meals? Would you like to stay in a place that offers the best of every season?
The Granite State Inn and Restaurant is the perfect place to go for a New England vacation!
Perfect for a New England vacation!
Business Card
Sarah Santiago90 Hearth Stone Lane
Wilton, NH 01562 Phone: (603) 654-6091
Fax: (603) 654-6092
Perfect for a New England vacation!
Perfect for a New England vacation!
90 Hearth Stone Lane Wilton, NH
01562Phone: (603) 654-6091
With friendly service, cozy rooms, and great meals, The
Granite State Inn and Restaurant is the perfect place to go for a
New England vacation!Rooms range from $150- $350
Advertisement
Perfect for a New England vacation!
The Granite State Inn and Restaurant Slogan:
Perfect for a New England Vacation!
Perfect for a New England vacation!
How Will The Granite State Inn and Restaurant Reach Its Potential
Customers?
• Newspaper ads.• Magazine Articles.• Search Engines.• Travel Websites
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Financial StatementsEconomics of Presidential Room
Selling price per unit- $350.00Cost of goods sold per unit-
Laundry: $ 10.00Cleaning: $ 10.00Soaps: $ 5.00Stationary: $ 2.00 Total: $ 27.0025% overhead: $ 6.75Total: $ 33.75
Gross Profit per Unit: $316.25
Perfect for a New England vacation!
Financial StatementsEconomics of Executive Rooms
Selling price per unit- $250.00Cost of goods sold per unit-
Laundry: $ 10.00Cleaning: $ 10.00Soaps: $ 5.00Stationary: $ 2.00 Total: $ 27.0025% overhead: $ 6.75Total: $ 33.75
Gross Profit per Unit: $216.25
Perfect for a New England vacation!
Financial StatementsEconomics of Regular Rooms
Selling price per unit- $150.00Cost of goods sold per unit-
Laundry: $ 10.00Cleaning: $ 10.00Soaps: $ 5.00Stationary: $ 2.00 Total: $ 27.0025% overhead: $ 6.75Total: $ 33.75
Gross Profit per Unit: $116.25
Perfect for a New England vacation!
Financial StatementsEconomics of The Granite State
RestaurantLunchSelling price per unit- $ 30.00Cost of goods sold per unit- $ 10.00
25% overhead: $ 2.50Total: $ 12.50
Gross Profit per Unit: $ 17.50
BreakfastSelling price per unit- $ 15.00Cost of goods sold per unit- $ 5.00
25% overhead: $ 1.25Total: $ 6.25
Gross Profit per Unit: $ 8.75
DinnerSelling price per unit- $ 35.00Cost of goods sold per unit- $ 15.00
25% overhead: $ 3.75Total: $ 18.75
Gross Profit per Unit: $16.25Perfect for a New England vacation!
Start-up Costs
Start-up ExpensesEstimated
costs Where will I buy these? + info Items
Advertising $1,000 call paper and magzines to see if they will write an article+ yellow pages
Yellow Pages and News Papers
Starting Inventory $1,000 Food from local vendors Food for ResaurantBuilding construction $750,000 use family help and family discounts Lumber, electric, plubing, etc.
Cash $500 Bank
Decorating $30,000 Misc. Places including antique stores, pottery barn, dept. stores, etc. Lowes, Home Depot
Linens, Pictures, rugs, furniture, etc.
Deposits $850 Misc. Electric, Phone, Water, Etc.
Fixtures and equipment $30,000 Walmart, lighting places, sears, etc. Kitchen supplies, smoke detectors, sprinklers lights, etc.
Insurance $20,000 The HartfordLicenses, permits, and fees $1,000 Misc.
Computers $3,000 Dell 1 or 2 computersServices $300 Misc. Lawyer, accountant, trash, etc.
Signs $1,000 Barlo Signs Entrance signsSupplies $2,500 Staples, wholesalers Paper, cleaning, office supplies
Unanticipated expenses $25,000Total Start-up Costs $866,150
Start- Up Capital Requirements
Perfect for a New England vacation!
Sources of Financing
Personal savings
$50,000
Loan $800,000Relatives $5,000Friends $5,000Grant $10,000
Total: $870,000
Maximum Interest Rate:
10%
Perfect for a New England vacation!
Yearly Income Statement
Perfect for a New England vacation!
Revenue Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec TotalsRoom Rate $2,250 $3,150 $6,000 $7,200 $12,750 $18,000 $18,000 $12,750 $12,750 $9,000 $6,750 $6,750 $115,350Breakfast $7,905 $7,905 $8,835 $8,835 $9,300 $9,300 $9,300 $9,300 $9,300 $8,835 $7,905 $7,905 $104,625Lunch $13,950 $13,950 $14,880 $14,880 $16,740 $16,740 $16,740 $16,740 $14,880 $13,950 $13,950 $13,950 $181,350Dinner $32,550 $32,550 $32,550 $32,550 $32,550 $32,550 $32,550 $32,550 $32,550 $32,550 $32,550 $32,550 $390,600Total Monthly Revenue $56,655 $57,555 $62,265 $63,465 $71,340 $76,590 $76,590 $71,340 $69,480 $64,335 $61,155 $61,155 $791,925
Cost of Goods SoldRoom Rate $75 $105 $200 $240 $450 $675 $675 $450 $450 $300 $225 $225 $4,070Breakfast $2,635 $2,635 $2,945 $2,945 $3,100 $3,100 $3,100 $3,100 $3,100 $2,945 $2,635 $2,635 $34,875Lunch $4,650 $4,650 $4,960 $4,960 $5,580 $5,580 $5,580 $5,580 $4,960 $4,650 $4,650 $4,650 $60,450Dinner $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $167,400Total Monthly Costs $21,310 $21,340 $22,055 $22,095 $23,080 $23,305 $23,305 $23,080 $22,460 $21,845 $21,460 $21,460 $266,795
Gross Profits $35,345 $36,215 $40,210 $41,370 $48,260 $53,285 $53,285 $48,260 $47,020 $42,490 $39,695 $39,695 $525,130
Operating CostsFixed:Salaries $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $60,000Insurance $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $30,000Interest & Payment on Loan $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $240,000Total Fixed Costs $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $330,000
Variable:Utilities $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $30,000Advertising $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $6,000Total Variable Costs $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $36,000
Total Monthly USAIR $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $366,000
Profit Before Taxes $4,845 $5,715 $9,710 $10,870 $17,760 $22,785 $22,785 $17,760 $16,520 $11,990 $9,195 $9,195 $159,130
Taxes $1,211 $1,429 $2,428 $2,718 $4,440 $5,696 $5,696 $4,440 $4,130 $2,998 $2,299 $2,299 $39,783
Net Profit $3,634 $4,286 $7,283 $8,153 $13,320 $17,089 $17,089 $13,320 $12,390 $8,993 $6,896 $6,896 $119,348
For The First Year of Business
Formula: ROI= $119,348 - $866,150
(100) $866,150
ROI= -86%
Return On Investment
Perfect for a New England vacation!
Computer, Telephone, FaxGateway Computer: To Keep Good RecordsTelephone: To receive and cancel reservations
Homepage
Hosted By Yahoo: A form of advertisement; so guests can view rooms and options for their trip. The home page will also allow guests to make reservations
Accounting Software Quickbooks Pro 2005: Great for keeping financial records.
E-mail TDSmail: To inform guests of confirmations, deals, cancellations, local weather, etc.
Technology
Perfect for a New England vacation!
Future Additions
• More rooms• More dining area• Pool• Event planning services• Conference Room
Perfect for a New England vacation!
How to Keep The Granite State Inn and Restaurant’s Success:• Maintain Cleanliness• Keep staff friendly and happy• Keep guests happy• Offer deals• Continuously present something
new and exciting to keep customers interested
Perfect for a New England vacation!
How to Tell If The Granite State Inn and Restaurant Are Successful:
• Returning Customers• Good Reviews from Critics• Smiling Customers!
Perfect for a New England vacation!