Before the business open, takes 9-12 months to transformation.
Employees:
– No need new employees temporarily
– Only designating Smith ($31K)
Research:
– Analyzing local and nationwide market data and consumer trends
– Crafting pro-forma financial
– Crafting a strategy
– High Roller’s average customer spending $62.5 per visit
– High Roller’s 50% of revenue from alcohol, 30% from food, 20% from lane admission
– High Roller’s fees charging by the hour instead of by the game
– High Roller’s gross profit margin in 2009 was 70%
– There is a market to start business
Design:
– Greatest capacity is 150
– Considering small group, large group and private event
– $500,000 to $750,000 for renovation, with 15% design fee
– Hiring 2 graduate students for designing can save $90,000
– Selecting general contractor, Mike Walker
Foods & Beverages:
– Own a liquor license which is permitted to serve full range of alcoholic beverage
– Licensed to prepare and serve hot and cold food onsite
– Cooperating with food caterer with offsite facility
– Cost per menu item is $5.00
– Minimum order per night is 300 item
– # Catering employees required per night is 3
– Catering wage is $ 12.00 per hour
– Required advance notice for catering estimates is 5 days
