DIMENSION - Where All Ages Meet Their Expectations

FEASIBILITY DECISION: Feasible

DIMENSION

Business Feasibility Study

Miguel Aguilo Seara
Dehab Brhane
Joshua Herr
Maia Ottenstein
Binh-Minh Nguyen

Drexel University, 02/26/2012

* Executive Summary * * Dimension is a fusion restaurant that blends Vietnamese and South American cuisines. We will place Dimension strategically in the quaint college town of West Chester in order to appeal to multiple categories of people. With students being the predominant clientele, we will aim our menu prices to be lower than our competitors. However, there are other customers we plan to appeal to as well and they include locals in the town, staff of the university as well as people who live in the surrounding areas. * We will strive to have the quality of ingredients match with the experienced service. In addition to providing food, we will offer entertainment. This is not common in any of the restaurants within the surrounding area. In providing entertainment through a piano bar, we will be able to showcase the talent of students at West Chester University’s theater department and in return will get business through doing so via word of mouth of student pianist. * Through a SWOT analysis, we were able to determine that there is a significant need for this kind of concept in West Chester. Our prices and quality of food and services will be our strengths that will pair well with the opportunity to have a type of cuisine the area has never seen before. * Because the start up of restaurants are always very costly, we determined that if we rent out an existing space that already was a restaurant, we will not only save in a mortgage, but also avoid purchasing expensive kitchen appliances. *
Business Concept

Dimension is a Vietnamese/South American fusion restaurant and piano lounge. We decided on a small college town, West Chester, Pennsylvania, and focus our marketing on the college students and young professionals in the area. Because Dimension is vastly different from competing restaurants in the area, we will draw people in with our unique charisma, formed by the inventiveness, passion, and creativity that created this restaurant.
Being that our restaurant is completely original in cuisine and design, it will pique university students’ curiosity. Our customers will experience the unexplored flavors that emerge from the combination of dissimilar cuisines. Dimension will be a restaurant that people come to whether they are seeking solace or want to have a nice night out. The warm, welcoming décor and the sounds of the piano will impress our customers as a lavish lounge, perfect for anything from an intimate date to a group outing. These elements combined with our BYOB policy and tapas menu, Dimension will be the ideal place to relax after a long day or as a late night indulgence.
The cost to start one’s own restaurant with a capacity of 90 seats averages $80,000 to $100,000. As a new business, Dimension has found out a way to lower the start-up cost. Our founding members searched for a restaurant to rent. There are a lot of restaurants that have closed down for reasons such as location, customer service, and management. We aimed to find a closed restaurant in a good location and remodel it into our own. This way, we will not have to worry about location issues or spend a superfluous amount of money leasing a space, building a kitchen and purchasing appliances. Leasing a restaurant space in the town of West Chester usually costs between $2,500 and $3,500 and includes a full kitchen. In not purchasing necessary kitchen appliances, we can save $20,000 to $35,000 in start up costs.
West Chester will be the perfect location for our market. It is a college town and students want good food for a good price, rather than the overpriced pre-prepared cafeteria food that universities are notorious for. There are about 20 restaurants within the surrounding West Chester University with 6 being Chinese, 2 being Mexican, 2 being Thai, and about 10 being fast food/American pub style establishments. Our food will be unique to the area, as a fusion restaurant featuring Vietnamese and South American cuisines. Our customers will value the immense variety in our menu, including an extensive range of flavors and textures and the choice of getting full entrees or creating a meal by ordering various tapas. Customer’s dishes can be customized based on their tastes. The diversity of college students will offer a larger number of customers willing to try something out of the West Chester norm. Dimension will also benefit from the hundreds of student organizations fostered by college campuses, as our quality food and agreeable pricing will make our restaurant a prime selection for group meetings and celebrations.
Because it is important to gain our customers’ trust, we will guarantee and provide food and customer service of the highest quality. We will make sure that we do everything we can to ensure every customer leaves satisfied.
Since it is a new brand, this kind of restaurant is suitable either for sole proprietorship (family business) or partnership only. We decided to categorize Dimension as sole proprietorship.

Industry Analysis a. Goal:
Our first mission is to attract the customers to our restaurants and encourage them to give us a try. In doing so, we will build up our costumer’s loyalty through our high quality food selection and experienced staff. With our food being moderately priced at an average price of $12.50, customers will be attracted by not having to spend a lot on an excellent, tasty meal. b. Focus:
Our main target is university students and staff. This is the first reason why we choose a college town. Students are willing to try different types of foods. Students are also more inclined to eat with their friends than alone. So, they will want to go out to eat and be in an atmosphere where they feel like they can relax with their friends. Staff alike wants to be able to go somewhere other than on campus dinning to eat a well priced and well cooked meal. Furthermore, the college town we chose does not have a lot of restaurants and the new restaurant will grab the students’ attention. However, for them to keep coming back, we need to make sure that our consumers are satisfied with the food. When our food satisfaction is met, students are more likely to bring more friends and introduce the restaurant to other friends. c. Culture:
University area is a mix of different cultures. However, they all follow one rule in the United States. The food quality is important as much as the customer service. Many consumers are looking for a special space to dine in with their friends, their lovers, and their family. A good customer service will make them feel comfortable just like their home. What can be better than a comfortable feeling in a countryside restaurant with special traditional foods? d. SWOT analysis
+ Strength * Food: Our food is unique in this area. There are many Chinese restaurants, Mexican restaurants, and American restaurant but there is not a fusion restaurant. * Parking Lot and Space: this restaurant can have up to 150 consumers in at one time, which is bigger than the other restaurants in the area. Moreover, it has a parking lot which makes it easier for our consumers. * Convenient for to go: in addition to dining in our restaurant, we offer a take-out service for people who don’t have a time to eat in. Also, we cook the food fast and can make a meal within 8-10 minutes to allow fast and efficient take-out. Furthermore, we also provide delivery for those students who do not have access to car or public transportation.
+ Weakness: * New brand: Our restaurant is new. It takes time to get the consumers to give it a try. Some people might want to stick with the food that they already know. * Vietnamese and South American food: Some people are not familiar with Vietnamese or South American food. They do not know what Vietnamese or South American foods look like. Thus, people might not know the difference between Vietnamese food and Chinese food and might give the wrong judgment about Vietnamese food. * Supplier: it takes a long distance to commute to closest Asian market to find appropriate ingredients spices to make our dishes. This can be a problem when we run out of supplies + Threat:
Because of the new brand, our restaurant might have a difficult time competing with other restaurants in the area. It will take a lot of time to build up a trust in our consumers. Therefore, we might not have the income in the first month. Moreover, with a risk of losing a reputation with a previous owner, some customers might not want to give it a try again because of the previous restaurant even though our restaurant is completely different. + Opportunity:
Students will be in town 9 out of 12 months during the year. Therefore, we will have 3 months that are slow in the summer where we can improve and update our restaurants in quality and service. Moreover, with the students out of school, we can hire them part time with less benefit than full time employees. Also, we can attract more of the locals other than students in the area through advertisement and marketing. e. PEST analysis
+ Political Analysis * Regulation and Requirement
Instead of the Commonwealth of Pennsylvania State, the Chester County undertakes its own food establishment license and certification. * License Permit:
First we will proceed with the application for license permit using the form provided on government website along with the $200 application fee. * Safety Standards: According to the Chester County Health Department (CCHD): Food Fee Schedule, the application fee
Food Facility with = or > 50 Seats $350
Food Facility Plan Review $200
Subsequent Inspection Fee $300

The regulation and requirements are described in chapter 300 under the “Food Safety at Retail Food Facilities”1. As stated in CCHD, at the minimum one individual with Certified Food Manager (CFM) from CCHD will be employed in the establishment. In proceeding with the application, we will follow the flowchart provided in the Chester County guidelines given below:

Source: Chester County, Pennsylvania, web site

The guideline also describes the safety requirements that need to be satisfied in detail according to the following sections: * “Application for Food Facility Plan Review and Fee * Water Supply and Sewage Disposal * Floor Plans * Structural Facilities * Surface Finish Schedule * Floors, Walls, Ceiling * Utility Lines * Insect Control * Food Equipment and Installation: * Floor-Mounted Equipment * Table-Mounted Equipment * Refrigeration Facilities Sizing and Design * Sink Facilities * Hand washing Facility * Food Preparation Sink * Manual Ware washing * Mop Sink * Ventilation * Cooking Exhaust Ventilation System Toilet Room Ventilation * Toilet Facilities * Plumbing and Cross Connection Control; facilities to Protect Food; lighting; dry Storage Areas, garbage and Refuse Storage Facilities, dressing and Locker Rooms” In addition to the above regulations, we will satisfy the zoning requirements, insurance and make sure these are reviewed by our attorney and accountant representations. + Economy Analysis Due to the recession for the last 5 years, a lot of business failed to survive. Thus, our restaurant will face many problems because our customers do not make as much money as they once did. Furthermore, they will try to save money by cooking at home instead of going out. Students might be exceptions because lack of means. However, students will eventually become aware of the difficulty of getting a job after graduation and eliminate going out to eat. Thus, Dimension’s goal is to make sure that our price is affordable for customer to come back twice a week. Besides, our President Obama has trying to convince States giving out 26 weeks unemployment benefit for those who did not look for a job but try to establish their own business. This can give many entrepreneurs a break while they are working on their plan. + Socio-culture Analysis
In 2008 by restaurant and institutions Magazine, highlights some important differences in choosing a restaurant by the Generation Y (aged 26 years or younger), Generation X (aged 27 to 41, baby boomers (aged 42-60), and mature (aged 61 years plus) diner. While 28.4% of generation prefers to use technology to place orders and pay for meals without interacting with counter staff, this fall to 18.1% for generation X, 12.1% for baby boomers and only 7.5% for matures. However, 29% of generation Y consumers indicated that they like to go to restaurants where the chef interacts with guests compared with 17.8% of baby boomers. Most generation X’s and Y’s like to check a restaurant’s menu prior to making a reservation. This being said, about 25% of these generations then indicate that they like to make changes to menu items that they order, compared to 14.5% of mature diners. Also a half of younger diners like to create combinations of small entrees to make a meal. +Technological Factor
The restaurant space we are taking over already has the necessary equipment needed for a restaurant such as a commercial grade kitchen. However, we want this restaurant to have a special style so we plan to remodel the existing seating area of the restaurant. For instance, we want to create a comfortable space with a traditional style. We want to put 2-4 televisions in the restaurant which will help the consumer is catch up with local news. Furthermore, it can attract students during football seasons. Because we are BYOB, students can bring a couple of beers for their buddies, and enjoy our restaurant’s fabulous food.
We will also you technology to advertise our restaurant by creating our own website as well as having an online service for the consumer. Moreover, we can also have Facebook, which gives the customer a quick review of our restaurant.

f. Competitor Analysis Even though there are a lot of restaurants in West Chester, we will just examine only the restaurants similar to ours, Chinese restaurants (New Garden, and Golden Teriyaki). With the fact that our restaurant is classified as an Asian restaurant, we need to know our competitors’ position as well as their strengths and weaknesses.
+ Market Position:
New Garden and Golden Teriyaki are owed by the same owner. They concentrate on Chinese foods. It estimates that they made around $8,000 every day. It means that they served around 110 meals each day. They are ranked as the best Chinese restaurant in West Chester.
+ Strengths: * Reputation: They have been in West Chester for 20 years. They already have their reputation and consumers. They have already maximized their advantages and eliminated their disadvantages. * Location: Downtown – on the main street. * Franchise: They have two restaurants in the same town which gets more customers coming to their restaurants. * Food: They have various food and special food for a specific day only. Their foods do not only taste good but also give the consumers different choices such as the ability to make their own food by choosing their sides to their dishes. + Weakness: * Space: Small capacity – around 60 seats * Parking Lot: No Parking lot * Restaurant: They do not have any specialty in the restaurant. The restaurant does not have an attractive look. The customer service is not as good. They do not have any kinds of coupons or advertisement that can attract more customers.

g. Promotion * Advertising: University of West Chester News paper, Local News Paper * Public Relations ( Live here for 2 years, friends, coworkers, teachers – good relationship, encourage them to try, give them a special deal) * Promotion Programs (Using Facebook– 5% off of bill if “Like” us * Giving out comps for frequent customers. They can earn 1 free dish for 10 times of dine in * For those college employees who referred their friends to come to the restaurant, we will give out 5% of total customer spending. * Willing to give out 20% off for the first month. * For those who are paying by cash, we can give them 5% in gift card. They will earn their points by giving the cashiers their card whenever they pay by cash. Furthermore, they can also keep up with their points by checking their customer’s account on Dimension’s website.

Market Analysis

With a Restaurant, a niche market or a key demographic is always important in bringing in business and in sustaining long-term business. With the location of our restaurant being in downtown West Chester, the target market of out restaurant is the borough of West Chester and its inhabitants. With the market size of West Chester being around 18,461 according to the Census of 2010, it’s a huge market compared to a restaurant in downtown Philly. West Chester is primarily known as a college town with the University of West Chester comprising approximately 15,100 degree seeking students: 2,266 graduate and 12,834 undergraduate. Including the college population it nearly doubles the town’s population giving the opportunity for more business and more customers. The College population is key considering that the growth rate of West Chester Borough has been relatively flat the last ten years with only a 3.36% change since 2000 and is forecasted to only change 9.2% over the next 30 years As the population remains flat it is important to keep your base customers since the opportunity for growth in the community is not there.
The market trends of the restaurant industry rise and fall like the stock market. What is hot or trending depends on the area of the country your restaurant is located in. One thing that is being popular is the choice between independent restaurants and chain restaurants. Reports show that 43% of Americans consumers seek out independent restaurants over chains. Their reasoning for that are they want to support the local community and feel that independents do more for the community that chain restaurants. The same report also stated that 42% of restaurant goers say that independent restaurants are superior to chains when it comes to food quality and customizing their orders. These trends mean for our independent restaurant is that even though it make not necessarily have the name recognition of a larger chain restaurant the consumer is still willing to give us a chance as long as we treat them better than a chain and not try to change our attitudes to be like a chain. People like different sometimes and if you show them that different can be better than half the battle is already won and you have the chance to retain them as a regular customer.
In a smaller town like West Chester the key to success is to make good first impression and get the community talking about you. If you can make a good first impression and grow on that initial success you have a good opportunity to stick around as a business and be very successful. Being that this will be an individually own restaurant and not run by a corporation but someone who is putting their blood, sweat and tears into the restaurant it’s the perfect fit for a hard-working blue collar community. Allowing the restaurant to be different than anything else with give us that niche market and allow us to be successful.
The primary customer that we are looking to target are the college students in the area and the young professionals ages 20-35. In West Chester, the age bracket of 18-34 makes up 10,620 of the total population of 18,461 mentioned before. The same Community Profile of the West Chester Borough also stated the median age of West Chester to be 23.9. In addition to the students at West Chester University who are also in that demographic, it shows that it is the biggest audience of customers that our restaurant will be focusing on. Being that the restaurant is Piano Bar and more relaxing hangout atmosphere the profession of the customers we are looking to attract our primarily students or young working professions or have stayed in the area to work after they have graduated. It’s a place for them to relax after work and get a bite to eat. Of course all customers are welcome that is just the base customers we are looking to attract. With the location of our restaurant being in down town West Chester a mile away from West Chester University and on the main boulevard of the town it’s a prime location to capture walk-ins and students on breaks between classes. Those living in the area that may work in Philadelphia area or surrounding areas will be the sample point of people coming to our restaurant. Founding Team

Maia Ottenstein- Responsible for designing the restaurant for success. Maia carefully reviewed industry reports to determine the factors vital for a restaurant’s success. She then searched for the needs and preferences of the restaurant’s (Dimension’s) specific target market and applied that information to design a restaurant experience that will attract target consumers on multiple levels.

Dehab Brhane – Having reviewed the necessary rules and regulation for Chester County, she will be responsible in making sure they are satisfied. To this end, she will work closely with the establishment’s lawyer. Although there are minimum requirements that needs to be satisfied, to meet the regulations utilizing her previous experience in the restaurant field she will help in the groups strive to supersede these minimum requirements by the municipality as well as department of health and go beyond to earn the customers trust.

Miguel Aguilo- Seara- As finance major, Miguel Aguilo- Seara will be in charged for the daily/weekly/monthly/yearly book keeping of the restaurant as well as assisting Dehab Brhane with making sure all the necessary legal aspects are met and adhered. With strong people skills that he used at previous retail jobs, he will assist with making sure customer service is at the highest level.

Minh Nguyen- As a marketing major, Minh Nguyen will be in charged of all marketing and promotional aspects of Dimension. With a vast knowledge of the restaurant business, she will be able to assist with obtaining the necessary licensing as well as restaurant design.

Joshua Herr – In charge of the renovations and construction of the new restaurant. With it being a rented building we will have to modify the restaurant to our liking. Being in the field of construction management he will be able to manage the process and make sure we stay on budget and get exactly what we want in our new restaurant. He will coordinate all pre opening work before the restaurant is fully open and any renovations that might need to occur after the restaurant has been open.

Product Development Plan A restaurant’s success relies on its customers’ satisfaction, thus our aim is to create a dining experience that meets and exceeds our target consumers’ ideals in food quality, pricing, atmosphere, and services. In order for our restaurant, Dimension, to thrive, we will have to hire a strong staff of “multi-skilled and flexible” employees, who will be trained upon employment. Responsible, hard working college students are our first choice for employees. Hiring students will benefit the restaurant by getting people on West Chester University’s campus talking about Dimension, as well as increasing incentive for employees’ friends and family to try it out.
It is also vital that we carefully manage food and supply orders, current stock, and control food waste. Thorough inspection of costs and profit margins will be necessary to determine an appropriate menu pricing and portion control, and ensure that our customers are getting the most value for their money that we can afford. In order to maximize efficiency, the chefs will be required to check stock every 2 days to make sure that we have enough fresh food to provide for our customers. Due to our close proximity to Philadelphia, we can easily and cheaply restock fresh produce if anything should spoil before expected. This way, the restaurant will be bale to minimize food waste. Because of Dimension’s proximity to the West Chester campus and a main road, we will offer our customers both take-out and delivery services. However, to stay ahead of competition, we will also have to be open to adopting new technologies that may improve cost efficiency and customer service. The target market for our restaurant likes to have the option of making decisions about their dining experience online. In order to comply with customer preferences, Dimension will have a website with a consistently updated menu, so potential diners can see what we have to offer before making a reservation. Our target customers also enjoy placing orders without having to interact with restaurant staff, thus we will offer them online order placement for both take-out and delivery orders. Furthermore, our online order has a special program to collect their appetite information whenever they place an order to our website. Our restaurant want to make sure that we would be able to provide a accurate recommendation in those time that our customers are not sure about their order decision. Dimension also provides a choice that customers would be able to customize their dishes through our website. Our online customers are guaranteed to experience the same atmosphere as our eat-in customers. While a website may please our customers from work and at home, the ambiance of our restaurant will determine whether our customers will prefer to dine in or out. Being a piano bar/lounge, we will make Dimension a relaxing place for our patronizing students and young professionals to meet up, to take a break, or to unwind after a rough day. Our customers will feel comfortable in the warm and welcoming ambiance, dimly lit with décor of deep reds and shimmering golds, enabling them to relax and unwind. Maintaining a friendly staff and accommodating employees is important for ensuring that customers are not only treated with respect, but also made to feel at ease and thoroughly enjoy their experience.

Dimension will be dedicated to serving quality food made with quality ingredients. As consumers have become more “aware of issues related to weight and obesity, fatty-food intake, and food-safety issues,” it is important for restaurants to not only offer healthier food options, but also have variety within those options to keep health conscious customers interested. Both of the cuisines featured at Dimension boast many dishes requiring a lot of ingredients like fresh herbs and vegetables, and more fresh ingredients mean less processed and preservative-packed ingredients. While we will still offer other, less healthy items on the menu, Dimension will be an accommodating restaurant with flexibility in our menu and cooking arrangements, made possible by the miniscule amount of pre-prepared foods required for quality dishes of these cuisines. Being that IBISWorld’s restaurant industry report states that our target market likes making changes to menu items, any item slightly unattractive to a customer will be modified to suit their individual needs. The report also states that our target market also enjoys making meals by combining smaller entrees. Dimension will satisfy this preference by featuring a tapas menu with both traditionally Spanish as well as Spanish/Vietnamese fusion tapas. Dimension will be a BYOB restaurant. While it may appear as a fault that we are not getting a full liquor license, being a BYOB restaurant allows our customers to bring their favorite alcoholic beverages without being restricted to the brands our restaurant carries or by the unreasonably high prices of alcohol in restaurants. Because some people may feel uncomfortable bringing alcohol with them when they want to drink, we will encourage our customers by offering “sangria packs” (chopped fruit, a pitcher, a stirrer, and a set of glasses) and help our customers whip their ingredients into a tasty Spanish cocktail. This way, we ensure that our customers will feel comfortable with the BYOB policy.

Financial Plan

The following are assumptions we expect to pay for to allow Dimension to open: * $60,000 loan with an estimated annual interest rate of 8.5% according to WSJ prime rate and a principle payment of $12,000 a year based on a 5 year loan with monthly payments of $1,000 * $200 License permit fee as well as $850 Safety Standard application fee * 5 Year lease at $2,700 a month with $10,000 due at signing as well as first and last months’ rent * Lease includes water, gas, as well as garbage removal * Lease does not include electricity and we estimated, with help from current owner of the space, a monthly fee of $700 and increase at 4% each year * We estimate that we will spend $30,000 on renovations to the space and it will have a straight line depreciation for the length of the lease and will pay $6,000 in depreciation each year The following are assumptions based on the monthly revenue and monthly expenses we expect to occur: * Our “total units” will be the amount of meals and well as beverages we expect to serve on a weekly basis: 55 meals during the week and 75 meals during the weekends; 50 beverages during the week and 70 during the weekend (we estimated the beverage units to be lower than the meals because our restaurant is a BYOB and also a customer may want water instead of a fountain drink) * We estimated that the average cost per meal a customer will spend on is $10 per meal for lunch and $15 per meal for dinner * We forecasted that during the week (Monday through Thursday), lunch will be more crowded, so we estimated our revenues to be the following: $1,000 a week on lunch (25 meals x $10/meal x 4 days) and $1,800 a week on dinner (30 meals x $15/meal x 4 days) – Monday – Thursday * In addition, we also estimate food delivery revenue weekday is $960 ($12 x 20 meals x 4 days) * We forecast the opposite for the weekend (Friday through Sunday) with dinner being more busy than lunch because of our live entertainment that we will offer at night and the revenues estimated are the following: $900 a weekend for lunch (30 meals x $10/meal x 3 days), $2,025 a weekend for dinner (45 meals x $15/meal x 3 days) (Friday – Sunday) * In addition, we also estimate food delivery revenue for the weekend to be $720 (20 meals x $12 x 3 days) * Weekly Income: $1,000 + $1,800+ $960 + $900 + $2,025 + $720= $7,405 * Monthly income: $7,405 x 4 weeks = $29,620 * Yearly income: $35,880 x 12 months= $355,440 * The cost of the beverages we plan on serving are as followed: $2 for any size soft drink (fountain sodas-unlimited refills), $2.25 for coffee/tea (free refill with coffee), $1.75 for bottled water; we will use an average of these costs to estimate the revenue obtained from beverages and that number is $2 * We estimate more beverages will be purchased for lunch during both the week and weekend because customers may bring their alcoholic beverage of choice for dinner time (they can also bring their own alcoholic beverage for lunch however, we feel that it will be more common to bring during dinner time) * We forecasted during the month, beverages will bring revenue of $820 (week- $400(50 beverages x $2/beverage x 4 days) and weekend-$420 (70 beverages x $2/beverage x 3 days) * Weekly income: $820 * Monthly income: $820 x 4 weeks=$3,280 * Yearly income: $3,280 x 12 months= $39,360 * We estimate that there will be a 5% increase in revenue on both food and beverage each year after opening * Since we are new, we expect that we may run into some problems that may affect the quality of service provided to our customers so we are going to allot a certain amount of money each month for discounts as well as comps any they are as followed: $800 ($675 for food, $125 for beverages) a month for discounts such as friends (up to 4) of student pianist eat at a discounted rate (we will continue this throughout the lifespan of our business in order to attract customers) as well as any promotions offered on Facebook and gift cards and each month for the 1st year, we will allot $600 ($550 for food, $50 for beverages) a month for comps in order to develop a good relationship with our customers incase service or quality is poor due to being new but we expect that the cost of discounts to increase 5% each year due to an increase of friends of pianist and comps to drop 3% each year after the 1st year as we will become more experienced * Food and beverage expenses are as followed: $650/ month on food and $110 a month on beverages ($7,800 and $1,320 a year respectively) and we expect that it will be 6.09% of our revenue for food and 1.03% of our revenue for beverages to represent COGS and will increase 2% each year * We estimate that total salaries a month to be $14,154 based on the following assumptions: 2 cooks that will split a 15 hour shift at $12/hour ($12/hour x 105 hours/week x 4 weeks)= $5,040; 2 preps that will split a 15 hour work day at $9/hour – ($9 x 105 hours x 4 weeks)- $3,780; 3 waiters/waitresses that will split the daily 15 hour shift at $2.20/hour (plus tips)-($2.20/hour x 105 hours/week x 4 weeks) = $924; 2 bus boys that will split a 15 hour daily shift at $2/hour (plus tips)- ($2/hour x 105 hours/week x 4 weeks) = $840; 2 hosts/hostess that will split a 15 hour daily shift at $8.50/hour- ($8.50/hour x 105 hours/week x 4 weeks)- $3,570; 3 owners that each will make $15/hour and will alternate 105 hour work weeks - $6,300 * Yearly salaries expense would be $245,448 ($20,454 x 12 moths) * We estimated that we would spend $550 on supplies a month to use around the restaurant and they will vary as needed and include linens, kitchen utensils, pens for waiters/waitresses, etc; first month will cost $950 however because of the purchase of an iPad in order for reservation and any other needed uses; for the year, supplies expense would be $7,000 ($950 + ($550 x 11) and we expect supplies to increase 5% as we become more busy * Since we are new, we would spend the most on advertisement and marketing during our first year; we will spend $1,920 a year on having an advertisement in West Chester University’s school newspaper and in the West Chester area local newspaper for $9,600 a year; $500 a month on flyers that we will hand out around the school’s campus and surrounding town and this price for flyers will decrease 10% each year after opening and we will use the advertisement in the school’s newspaper for the first two years only and then move onto Facebook for further advertisement/marketing * Since Dimension will be registered as a sole proprietor company, we will only have to pay state taxes which is 3.07 % * Since we are renting a space that already has all the necessary kitchen equipment, we will not have a PP&E account New Venture Development Timeline It would be best to set up a restaurant right around January. We would have 2 months to remodel the restaurants and another 2 months to bring our name to consumers before summer comes. Our plan should follow this instruction: December, 2012 – found a location January, 2013 – discuss with the landlord and bargain the rent fee to make sure that we would have 2 months free for remodeling. February, 2013 – starting remodeling Dimension April, 2013 – finish remodeling. Plan to open on Saturday. Hopefully, a lot of customers know about our opening ceremony with dragon dance and some Vietnamese/ Asian tradition. Parents would be happy to bring their kids to watch our opening ceremony. College students would find it fun to enjoy a dragon dance. November, 2013 – Stop giving our free food for kids. December, 2013 – hope fully we can get as many feedbacks as possible by then so that our restaurant can make some changes and start making profit. June, 2014 – increase profit by 25% December, 2014 – increase profit by 50%

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[ 1 ]. Application form, Chester County, n.d
[ 2 ]. “Food Safety at Retail Food Facilities” Chester County
[ 3 ]. “Guidelines for the Submission of Plans for Food Facilities” Chester County, n.d.,
[ 4 ]. Obama asks States to encourage Entrepreneurs http://www.stateline.org/live/details/story?contentId=604802 [ 5 ]. Full Service Restaurant in the US
[ 6 ]. Chester County Census Data 2010
[ 7 ]. West Chester University Admissions Office (Fall 2011) http://www.wcupa.edu/_admissions/sch_adm/
[ 8 ]. Delaware Valley Regional Planning Commission, January 2012
[ 9 ]. QSR Magazine 09-26-2011
[ 10 ]. Chester Country Community Profile (West Chester Borough) http://www.landscapes2.org/ccpc/profiles/communityprofiles.html