Kundo, Inc., a Massachusetts based company, will operate Abonda, a single unit, medium-size restaurant serving healthy, contemporary style food. The restaurant will be located at 645 Deacon Street in Cambridge, Massachusetts.
The company's goal is that of a multi-faceted success. Our first responsibility is to the financial well-being of the restaurant. We will meet this goal while trying to consider; 1) the effect of our products on the health and well being of our customers (and our staff), 2) the impact that our business practices and choices will have on the environment, and 3) the high quality of attitude, fairness, understanding, and generosity ...view middle of the document...
Our five year goal is to have 3 restaurants in the greater Boston area with a combined annual profit of between $500,000 and $1,000,000.
Although the restaurant industry is very competitive, the lifestyle changes created by modern living continue to fuel its steady growth. More and more people have less time, resources, and ability to cook for themselves. Trends are very important and Abonda is well positioned for the current interest in lighter, healthier foods at moderate to low prices.
The Restaurant Industry Today
The food service business is the third largest industry in the country. It accounts for over $240 billion annually in sales. The independent restaurant accounts for 15% of that total. The average American spends 15% of his/her income on meals away from home. This number has been increasing for the past seven years. In the past five years the restaurant industry has out-performed the national GNP by 40%. The reasons given by the Folkney Report (November 1994) are 1) lifestyle changes, 2) economic climate, and 3) increase of product variety.
There are 600 new restaurants opening every month and over 200 more needed to keep pace with increasing demand.
Future Trends & Strategic Opportunities
The predicated growth trend is very positive both in short and long-term projections. Folkney states again that as modern living creates more demands, people will be compelled to eat more meals away from home. The DMR Industrial Report (April 1995) estimates this as high as 30% over the next five years.
In 1988 The National Restaurant Association released the Foodservice Industry 2000 report that forcasted how the industry might look in the year 2000. Some highlights from the panel's findings:
* "Consumers will spend a greater proportion of their food dollar away from home.
* Independent operators and entrepreneurs will be the main source of new restaurant concepts.
* Nutritional concerns will be critical at all types of foodservice operations, and food flavors will be important.
* Environmental concerns will receive increased attention."
Products & Related Services
Abonda Restaurant will be offering a menu of food and beverages with a distinctive image. There will be three ways to purchase these products; table service at the restaurant, take-out from the restaurant, and delivery to home or office.
The Abonda menu (see appendices) is moderate sized, and moderate-low priced offering a collection of ethnic and American items with a common theme -- healthy (low-fat, low cholesterol, natural ingredients), flavorful, and familiar. Our goal is to create the image of light satisfying and still nutritious food.
There has been an increased awareness of nutritional and health concerns in recent years and a growing market of people who now eat this style of cooking regularly.
Food production and assembly will take place in the kitchen of the restaurant. Fresh vegetables,...