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Festivity consulting cabinet assists restaurateurs and
onsite foodservice providers determine the potential of new
concepts.
A Festivity consulting cabinet feasibility study includes
market research, current and future consumer demand analysis,
competition analysis, site evaluation, facility review,
concept development assistance, proposed menu analysis,
management and operating systems review, new facility
programming, equipment cost estimates, and financial result
projections.
Investors considering opening new restaurant operations are
assisted through the following steps:
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Concept
appraisal
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Review of
the client’s goals and objectives
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Review of
client’s commitment and purpose for entering the project
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Assessment
of the client’s experience and ability to successfully
implement the proposed concept
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Assessment
the client’s finances and budget in terms of the proposed
concept’s investment requirement
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Review of
the proposed concept in terms of current trends
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Review of
the proposed concept in terms of consumer needs in the
selected trade area
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Assessment
of the local availability of management and employee
talent, skill, and experience required to successfully
implement the concept
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Evaluation
of the proposed menu and proposed service style
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Review of
the proposed pricing strategy
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Assessment
of the concept’s attractiveness in terms of its ability to
deliver pleasant human sensual experiences: Aromas,
tastes, sights, touch/feeling, sound, safety, security,
friendliness, warmth, fun, excitement, and physical and
mental satisfaction
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Evaluation
of the concept’s uniqueness, and ability to interest and
attract sufficient numbers of consumers within the
selected marketplace
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Concept
feasibility
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Identify
target customers
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Determine
the ideal customer mix
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Determine
the typical meals will be consumed
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Estimate the
check average for each type of meal consumed
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Forecast
customer counts and total sales
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Determine
the tentative size of the facility required
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Find the
right size for the concept
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Locate
communities where sufficient numbers of your target
customers reside
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Check the
most promising localities
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Check the
competition in the area
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Zero in on a
promising neighborhood
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Identify
potential sources of customers within a three mile radius
of your selected neighborhood
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Check local
zoning and building restrictions
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Observe
target customer traffic patterns within the neighborhood
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Identify any
traffic obstructions
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Examine
specific sites
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Consider
non-marketing factors
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Consider the
availability of labor, and specific skills required
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Determine
the financial feasibility of the project
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Consider
lease, buy or build alternatives
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Project
sales and operation costs within the selected location
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Project all
building and furniture, fixture and equipment costs
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Develop
pro-forma financial statements
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Evaluate
projected results
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Business Plan
Development
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Review your
purpose for planning
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Decide on a
structure for your plan
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Fine tune
your vision and mission
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Describe
your organizational structure
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Plan your
operational strategy
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Project your
financial results
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Find your
break-even point
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Prepare
format pro-forma financial reports including a cash flow
report, income statement and a balance sheet
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Determine
the investment required
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Justify the
investment
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Capital
Attainment
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Calculate
the amount of capital required
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Project the
restaurants return on investment
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Investigate
potential sources of capital
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Consider the
advantages and disadvantages of the capital that is
available
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Prepare a
personal financial report
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Prepare a
loan proposal
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Determine
how the loan will be repaid]
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Assist
clients practice their approach prior to attending the
loan meeting
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