Zara Restaurant and Lounge
Company
Overview
Ownership & Structure
The restaurant will start out as an LLC corporation, owned by its founders, Zander Hunte and Peter Smith. Mr. Smith will function as the General Manager and Executive Chef, and Mr. Hunte as Managing Partner.
Mr. Hunte and Mr. Smith have a long-standing professional relationship in the restaurant industry, stemming back to Toronto, Canada. Mr. Smith is an accomplished restauranteur, having owned several full-service restaurants. He currently owns Brassaii Restaurant (www.brassaii.com), and Bauhaus Bar and Nightclub. Mr. Smith is also an international Restaurant Consultant for top organizations such as the Starwood Group, who own the hotel chains of The Westin, Sheraton Hotels, Four Points, St. Regis, and W Hotels.
Mr. Hunte has a background in International Business Management, and is certified in Restaurant and Hotel Management. Under the management of Zander Hunte, Myth Restaurant was a feature restaurant in Toronto, and distinguished as a top 10 restaurant while under his management.
Team
Management Team
Ownership & Management
Together, Alex Hunte and Peter Smith bring over 20 years of experience in the restaurant industry to their new joint venture.
Alex Hunte: Managing Partner
(Operations, Marketing, Financial and Business Development)
Mr. Hunte brings to Zara an accomplished restaurant background, exceptional business acumen, and a lifetime passion for the restaurant experience. Alex has over 17 years of business management in the Information Technology industry. Like IT, successful ventures in the restaurant industry must balance capitalizing on new trends with continual quality assessment. Alex’s understanding of day-to-day cash flow planning and staff management will be critical to Zara’s financial success.
Mr. Hunte has a background in International Business Management and Business Start-ups, and is certified in Restaurant and Hotel Management. As co-owner, Alex Hunte is responsible for overall direction and operational management. Mr. Hunte is a strong business leader responsible for strategic planning and continued growth of restaurant services and business development. In addition, Alex will be the management lead for all public relations, financial and investor services.
Degrees, Certifications, and Professional Affiliations:
- MBA in International Business Management
- B.S. in Computer Science
- Certified in Restaurant & Hotel Management from Ryerson University
- PMP (Project Management Professional) certification
- Member of the Midtown Alliance
- Business partner member of the National Restaurant Association.
Peter Smith: Managing Partner
(Executive Chef and Restaurant Operations)
Mr. Smith is an accomplished restaurateur, having owned several full-service restaurants. Mr. Smith is responsible for the concept and the daily operations management, with yearly sales targets of $7 million.
In addition, Peter is the owner of Bauhaus Bar and Nightclub, and former owner of Myth Restaurant, Ouzeri, and Kapilyo Restaurant, all financial and critical successes. Mr. Smith is also an international restaurant consultant for top international organizations. Mr. Smith’s Contracting responsibilities for Zara included logistics, Site and Lease Negotiations, Concept Definition, Start-Up and Financial forecast, Menu and Operations Management, as well as Implementation and Launch Management.
With a degree in Economics and an accomplished career, Mr. Smith contributes the experience of his past successes, and is charged with leading the Restaurant Operations, Staff Selection, Menu Definition and Training initiatives for Zara Restaurant & Lounge.
Managing Partner Responsibilities
In addition to the management of day to day operations, both managers, as principals within the company, will oversee menu development, purchasing, portioning, pricing and inventory control, including approval of all financial obligations of the company. They will plan, develop, and establish customer service policies and objectives, and write, explain, and enforce an employee’s manual for all employee-related policies.
Responsibilities for hiring and firing employees lie solely with the two operations managers, and any decisions in these areas will be made jointly.
They will:
- Manage working capital, including receivables, inventory, cash and marketable securities.
- Perform financial forecasting, including capital budgeting, cash flow analysis, pro forma financial statements, and external financing requirements.
- Prepare financial analyses of operations for guiding management, including reports which outline the company’s income, expenses, and earnings.
- Direct preparation of budgets and financial forecasts and arrange for audits of company’s accounts.
Personnel Table
| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Partner / Manager | $48,000 | $48,960 | $49,939 |
| Partner/ Assistant manager/ Head Chef | $45,600 | $46,512 | $47,442 |
| Hostess (1.67) | $36,000 | $84,000 | $90,000 |
| Wait Person (2.67) | $60,000 | $91,800 | $93,636 |
| Bartender (1.67) | $28,780 | $64,000 | $70,000 |
| Busboy (2.11) | $32,000 | $48,960 | $74,910 |
| Sou Chef | $38,400 | $39,168 | $39,951 |
| Cooks (1.67) | $33,600 | $68,544 | $69,914 |
| Prep | $21,600 | $22,032 | $22,473 |
| Dishwasher (2.33) | $48,000 | $48,960 | $74,910 |
| Totals | $391,980 | $562,936 | $633,175 |
Advisors
Zara’s Advisory Board
- Stephen Hollier of Hollier Collier & Loewenthal: Corporate Attorney
- John Katz of SS&G Financial Services: CPA
- Robert Shaefer of Shafer Hospitality Services: Restaurant Consultant
- Mary Zimmerman of The Zimmerman Group: Media & Public Relations consultant
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