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3.1 Facility Description

The building was first built as a church and explains the high cathedral ceiling on the main floor. The renovations have uncovered beautiful brickwork, vaulting ceilings, and large windows that we suspect held stained glass.

Sam, who has been supervising construction, has ensured that much of the beauty of the building has been left intact and has added modern amenities like a fully-equipped kitchen, restrooms on the first and second floors, a coat check area, and three bars.

A professional has been used to ensure the acoustics are everything that they should be for this venue. With live acts of jazz and blues music, the sound and lighting have to be top-notch.

There will be bars on each floor. The material they chose for the bar top looks like marble, but when lights are put underneath, seem almost ethereal.

Although there is a lot of space for the patio, they will put out tables for a maximum of 45 people. The owners want to ensure that every effort is made to maintain existing strong relations within the community and avoid any opportunity for conflict.

The décor is going to be extremely artistic to match the food. With the high ceilings, they’ll have fabric (fire-resistant as well) running across. The tables and chairs will be solid wood, draped with quality linens. To provide some privacy and to enhance the ambience, screens will be strategically laid out between tables (necessary with such a large floor).

3.2 Pricing strategy

John has created the menu with help from London. The food will be Mediterranean with a predominance of seafood. This menu will be very different from their competition and will avoid some of Little West-Side’s main staples like pizza and pasta.

Food and drink prices relate to the upper class environment and target clientele 25-35 years old. Estimated revenue from a 2 person dinner is $60 - $8 per plate higher than the location average. Four restaurants in the immediate area choose pricing strategies higher than CreditSunrise Fictional whereas 32 restaurants choose a similar or lower pricing strategy and target a younger clientele.

3.3 Long term strategy

Management's main focus is to ensure the successful and profitable operation of the main floor of CreditSunrise Fictional. Once cash flow from operations of the main floor allows it, management plans to finalize renovations to the balcony (seating capacity of 60) and the basement (seating capacity of 250). For the fire code, some of the renovations had to be done all at once – for instance, the restrooms, the electricity, the windows and exits, the ceilings, the acoustics, etc. The only thing left on the two other floors will be the floor tile, and the painting of the drywall. For the beginning of the summer, CreditSunrise Fictional side patio will be open, which will provide additional seating capacity of 45 and will further stimulate lunch sales.

Management’s initial plan is to firmly establish CreditSunrise Fictional as a thriving venue within the Little West-Side community. Once its operations and cash flow are stable, the partners will evaluate the opportunity to purchase their existing location from the current landlord, The Army Veteran's Association of America.

Initial discussions have taken place with the current commander of the association and he has already agreed to sell the building at the “appraised value”. Prior to the commencement of any renovations, an appraisal was completed and the value was set at $1,000,000. Management realizes that they would require a minimum of 35.00% or $350,000 in liquid capital to entertain this option. Target date for purchase is August 2005.

Market Profile

4.1 Market location

The Main Avenue area (Little West-Side) has been in the press recently as the trendiest area in the city. It provides the Main Avenue inhabitants and tourists with fine food, coffee, both live bands and a wide array of boutiques. Many of the owners know each other and provide an atmosphere of camaraderie. Demand by business owners and homeowners to enter this community can best be described as intense with vacancies very rare and extremely short-lived.

Presently, getting a reservation at a Main Avenue restaurant requires making a reservation a week in advance. Even with two seating per evening, there are regular lineups with neighboring restaurants benefiting from some of the overflow. Surrounding restaurants will take some of that overflow and more if the food and entertainment are right. Besides The Elbow Room (which seats less than 100) and Bar Italo, there isn’t a place to “hang out” after dinner. With CreditSunrise Fictional, there will be live music of a jazz and blues nature brought in every weekend along with dinner. The plan is to open the first floor and as soon as it generates enough cash flow to sustain operations and finance the renovations, they will open up the basement and the balcony. The time lapse should be a month at the most since for fire regulations, the basement and balcony had to be renovated at the same time the main floor was renovated. The patio will be open by this summer.

4.2 Customer profile

CreditSunrise Fictional will be a welcome addition to the well-established and thriving Little West-Side district of The City. Since the 1920's when Main Avenue's Little West-Side became recognized as the residential and commercial Center for The City's Italian community, the population has become diversified. With much of its Italian population moving to Bar Staa (Second and Front Street) in the 1960's and more recently to outside suburb , there was an influx of Portuguese, Chinese, Vietnamese and Spanish families, which gives Little West-Side the international flavor it enjoys today.

4.3 Location assessment

The street used to be an eclectic mix of café’s, small retail shops, bakeries and vegetable markets. Recently, the café’s and small bars have been bought up and renovated into trendy locales – a mix of coffeehouses, trattorias, and fine restaurants. Little West-Side now ranks as one of the trendiest places to visit in The City. As described in The City Tourism, "When the sun begins to set, street signs in the shape of West-Side's boot illuminate, the air is filled with oregano, garlic and basil as the area’s many restaurants begin to fill up. Little West-Side at night has become one of the hottest spots for The City nightlife, dominated by a late-twenties crowd."

TheCity. Com describes Little West-Side as "one of the trendiest and friendliest neighborhoods in North America. Clearly eclectic, always warm and inviting, Little West-Side’s nightlife is second to none."

The restaurants in the area have their own loyal clientele who spend many nights eating and visiting. It’s a trendy area for the 21-35 crowds and an interesting place to meet and have a nice meal for the older local inhabitants.

Marketing Plan

5.1 Local advertising

The marketing for CreditSunrise Fictional will take place in a number of ways. First of all, Little West-Side is already known for their restaurants and bars. There will be a natural evolution of people visiting the area to try dinner and soak up the atmosphere at the "new place". Also, because of CreditSunrise Fictional live music; there will be a natural tendency to go to a restaurant that also has entertainment so people don’t have to leave after dinner, especially on the weekends.

5.2 Jazz Festival

CreditSunrise Fictional “Opening Night” launch party will also draw patrons. This is schedule on Thursday night prior to the weekend long Jazz Festival. The media attention and the reviews (not to mention the headliner) will bring the initial attraction to that location. John Smith has strong ties with Lenny Lombardi, President, Radio Z103 and John Jackson, City Councilor for the area. They will both help in advertising to ensure John gets off to a good start.

5.3 Print media

Once established the restaurant will be dependent on word of mouth and the advertising of its weekly music lineup via flyers and VIP cards. VIP tables and benefits will encourage repeat customers.

5.4 Radio advertising

John Smith has contacts with promoters in the live music business and has already negotiated some potential lineups depending on availability. Informal negotiations are under way to bring in such notable performers as Oscar Hill, Faith Twain, and prominent jazz musicians. Dean Hilt, owner of OZ Nightclub (ranked in top 10 of city nightclubs as rated by City Magazine) has already visited several times to negotiate cross-promotions between their two venues since OZ is much too small to carry live music.

5.5 Established clientele

John Smith and Sam Jones both have solid reputations in the restaurant business. Customers from Country Style Diner and Club 1 will make CreditSunrise Fictional their next stomping ground.

5.6 Newspaper advertising

Formal advertising will take place by buying weekly ads in some of the local The City newspapers such as Today, What’s New, Again, and X. CreditSunrise Fictional will be listed on all the internet restaurant and community websites. Invitations to all food critics and editors will be sent for opening night reviews.

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