More than just a site location study, this involves the gathering and analysis of a great deal of information necessary to make an informed decision about the potential success of a specific concept in a specific or geographical location.
A Startup Audit is a smart “minimal investment” before you potentially spend hundreds of thousands of dollars developing your business. A Startup Audit Minimizes YOUR RISK.
What is included?
- Research the Market Area – This research is conducted to investigate the market area surrounding the business site. The goal is to establish a feel for the area and gather data that will help determine the future success of the twp business concepts. We will include a complete demographic study of the selected geographic area(s).
- Survey Potential Competitors – The purpose is to identify and investigate all businesss in the market area that may affect the business (s) operation. The information gathered will be used to analyze the site from the perspective of potential competition.
- Analyze the Selected Site – We will determine, based on the market characteristics and competitive business survey, whether the market area for a particular site could potentially support a new business, and if the proposed concepts would flourish at the location.
- Develop a Preliminary Restaurant Concept – A written description of the concept and menu with preliminary price points will help us visualize the business in relation to market conditions and direct/indirect competitors. This will also aid us in determining how the business may be positioned. A conceptual menu will also be included. The concept development portion of this study is a methodical process. The concept must meet the needs of the client and must be positioned for financial success as stated in the financial section.
- Construct a Preliminary Pro Forma Financial Statement based on projected business sales and fixed/variable costs. This will also include estimated capital requirements for development, projected uses of cash, sales and labor projections, cash flow projection, break-even analysis, and five-year sales/profit projections.
How We Make You Better
All of our programs are built to make you a success. Which means we build them according to your specific and unique needs. This doesn’t mean we “customize” them to fit your business (which means nothing more than taking a templated program and tweaking it to fit your situation). We personalize them 100% from the beginning to ensure that we leverage every unique aspect of your business in order to innovate your ability to create success. This is a very critical difference.