Rutabaga Sweets is a dessert bar and bakery located in the Business Improvement District (BID) of Washington DC. We can loosely be described as a quick-service restaurant where customers sit around a bar and watch their desserts being made. The show, as well as the dessert, is our main selling point.
Rutabaga Sweets will hold true to its vision of being a new concept with an old fashioned feel in order to become a favorite spot for DC natives. As the reported national leader in money spent in restaurants, Washington DC is an optimal location for launching a new restaurant concept. Rutabaga Sweets also hopes to become a destination for the thousands of tourists, both American and foreign, who visit DC every year.
We plan to manipulate our location in the Business Improvement District to our utmost advantage. Both tax incentives and high traffic due to the MCI Center will give us an edge as a new business. As the BID fills up with new businesses over the next few years Rutabaga Sweets will receive an added boost of increased traffic. Therefore, we are aggressively planning for a 50% increase in sales the second year of business.
By creating a new niche in the restaurant industry, Rutabaga Sweets will increase sales by more than $145,000 over three years while maintaining a gross margin of 80%. Through a philosophy of "nothing but the best" regarding both product and service, Rutabaga Sweets will establish itself as an exceptional dessert bar in Washington DC. We also will gain a competitive advantage in take out and catered desserts.
This plan outlines our company concept, philosophy and forecasted financials. Rutabaga Sweets hopes to find seed money of $300,000 to launch our business in June of this year.
Attain sales of $166,000 in the first year.
Increase second year sales by 50% and third year by 30%.
Expand to two stores by the third year of business.
Rutabaga Sweets is a hospitality company dedicated to providing high-quality desserts in a comfortable atmosphere for clients who seek a fun "gourmet" experience outside restaurants. We intend to make enough profit to generate a fair return for our investors and to finance continued growth and development in quality products. We also maintain a friendly, fair, and creative work environment, which respects diversity, new ideas, and hard work.
1.3 Keys to Success
Dedication to the finest quality ingredients and "make it happen no matter what" customer service.
Ongoing employee education and recognition programs.