On the Water is the new Mediterranean restaurant on the Sunset Strip. On the Water will target both fun-seeking as well as sophisticated diners looking for good food in a fascinating atmosphere. On the Water will seek to earn 85% gross margins through an innovative setting, a wonderful menu, and an experienced restaurateur.

The Market

On the Water targets tourists and locals who are actively looking for restaurants. There will be a special focus on young adults with $15K-$60K of income looking for good food and a great time. In addition to the young adults with money to spend, On the Water will also be targeting adults and tourists known to frequent Sunset Blvd. The demographics include males and females between the ages 21 and 50, with or without a college degree. On the Water will serve tourists and party animals from nearby cities as well as local Hollywood residents.

If there has been a decline in the general economic, the impact on the restaurant industry is often less than that of the overall economy. It is partially due to the perception that food, from the grocery store or restaurant, is a fundamental need of life. People spend accordingly.

Service and Products

On the Water offers impeccable service, which is something that has been consistent. Every server hired has extensive experience. All staff go through three weeks training to ensure exemplary customer service. The Water’s services are provided in an exceptional atmosphere that features a wide range of art and culture collections from Mediterranean Europe. This provides an authentic surrounding that at times seems to distract everyone as they analyze the wealth of artifacts on display.

Lily Valdivia is proud of the menu. It is a culmination of over 20 years of cooking. It features traditional favorites like hummus, tabouli, and baba-ganouj. These traditional favorites are made with the best organic ingredients. The best food is better when it’s made from fresh ingredients. Also available are kebobs and chutneys. Everything is made fresh daily and is homemade.

Management

The restaurant is led by Lily Valdivia, an industry veteran. Her experience in restaurant management began as a server 12 years ago. She quickly moved up to fine dining serving where she perfected her formal, customer-centric serving approach. Lily has been the manager of a European restaurant for five years, with an annual turnover of over $2.5million. Lily began cooking when she was just a small child in Greece. Lily comes from a large extended family and quickly took on the responsibility of cooking for her whole family. She was trained by her mother, who has three generations of traditional recipes. Lily quickly master these skills and began creating her own dishes. Her family always gave her positive feedback. She knew that one day, she would need to turn her skills into a business opportunity.

On the Water is expected to achieve profitability by month 2. Sales will grow to $1.785,000 by year two, and then to $2.345,000 by year 3. These sales are projected to generate high net profits.

1.1 Objectives

1. The third year saw sales increase to over $2,345,000
2. Maintaining a gross margin of approximately 80%
3. Increase inventory turnover to 2100 turns in year 2, and to 240 by year 3.

1.2 Mission

On The Water is a business that envelopes fine dining of unique mediterranean taste and an excellent bar and grill atmosphere. Our mission is to serve great food and provide friendly and efficient customer service. The dining area is sophisticated and welcoming. It also features a unique design with walls that are continuously soaked with running water. There is also a jungle ceiling that hangs from the ceiling. We are focused on customer satisfaction and providing high quality, fresh and carefully chosen food. We won’t judge anyone based upon their appearance or class. On The Water grill is a place where people enjoy good food and can make new friends at our tropical Mediterranean Honeybar located inside.