Perfect for a New England Vacation!

Sarah Santiago Entrepreneurship-KC December 6, 2006

Business Name

Perfect for a New England Vacation!

What Is The Granite State Inn and Restaurant?

The Granite State Inn and Restaurant will be located in New England so that visitors may enjoy the best that New England can offer every season. The Inn will house 10 impeccably clean rooms:
7 Regular 2 Executive 1 Presidential

The Restaurant will be able to hold 40 people in its dining area.

Perfect for a New England vacation!

Business Idea
The main idea is provide a friendly, clean environment for guests and diners. Rooms and meals will be affordable. Staff will focus on providing a romantic and enjoyable atmosphere to its guests and diners. Concierge will offer local maps and suggestions on where to shop, dine, and site-see.

Perfect for a New England vacation!

What Types of Rooms Will Be Offered?

Regular Rooms Smaller sized Great for families or a single person Queen size bed or two double beds Desk TV Couch Closet Full Bathroom Executive Rooms Medium sized Great for families or a couple King sized bed or queen sized bed and pull out couch Desk TV Closet Couch Mini-refrigerator Full Bathroom Presidential Room Largest room Perfect for a romantic weekend! California King bed Couch Coffee table Desk TV DVD player Closet Dining table Small kitchen complete with microwave, sink, and refrigerator Full Bathroom with double sinks, a Jacuzzi tub/ shower

ALL Rooms are Non-Smoking

Perfect for a New England vacation!

Amenities and Services

Room Service Turndown Service Complimentary Pillow Chocolates Complimentary High-Speed Internet Reduced Meal Prices in The Granite State Restaurant Balcony Private Bathrooms In-room Coffee

Perfect for a New England vacation!

Location

The Granite State Inn & Restaurant will be located in Wilton, NH.

Perfect for a New England vacation!

How Is The Granite State Inn and Restaurant Different From the Many Other Inns?
The Granite State Inn has an in house restaurant that can provide food for guests and the general public. The Granite State Inn has choices for rooms instead of one standard room. The Granite State Inn will provide a romantic environment with a mix of dcor to suite everyones tastes.

Perfect for a New England vacation!

Who Are Potential Competitors?

Name of Company Product/Service Price Quality
Stepping Stones Bed Bed and Breakfast & Breakfast Wilton, NH Birchwood Inn Temple, NH Inn Bedford Village Inn Bedford, NH Crowne Plaza Nashua, NH Hotel $210$350 Inn $65-$85 Full Breakfast included; Home baking $85-$110 Breakfast included, Dining area / Tavern Awarded for Hospitality and Dining Excellence Lounge and Pool

$130$250

Perfect for a New England vacation!

What Is The Competitive Advantage?

Many Room Options Dining area on the premises Convenient Dining Hours Great Tourism Location Close to Airport Access to city attractions and town attractions Many amenities

Perfect for a New England vacation!

What is the Business Organizational Structure?

The Granite State Inn and Restaurant will open as a sole proprietorship. After 5 years, if the business is not as successful as I wish, I will consider taking on a partner.

Perfect for a New England vacation!

Why should the Granite State Inn open as a sole proprietorship?

I want to be able to open the business by making all of the decisions. A partnership means a friendship, and if a partnership goes sour, so will the friendship. I have enough faith in myself that I can open and run my business on my own.

Perfect for a New England vacation!

Why Is There A Possibility of A Partnership Later?

If my business is unsuccessful, I will consider taking on a partner to gain a larger spectrum of ideas. If the company needs financial support, a partnership would disperse the financial burden.

Perfect for a New England vacation!

What does Sole Proprietorship for The Granite State Inn and Restaurant Mean?
Personal Liability: Fully covered personal liability insurance to protect all of my personal assets Sharing the profits: I have complete ownership and control of The Granite State Inn and Restaurant. I make the final decision on all business opportunities and keep all of the profits Taxes on the Income: Personal Tax Rate (Lowest Tax Rate) Sharing of Ideas: I will be the sole contributor of all ideas of the business. I will take classes in marketing, finance, management, and accounting. Dissolution of the business: After 5 years if my business is not successful, I will consider taking on a partner. If something happens to me, I would give the business to my husband. Raising Capital for future expansion: After running my business for about 10 years successfully, I will consider taking some of my profits and invest them back into the business for expansions, additions, upgrades, and refurbishments. Ownership: Sarah Santiago

Perfect for a New England vacation!

What Type of Business Is The Granite State Inn and Restaurant?

Service Retail Business.

Perfect for a New England vacation!

Who Is The Target Customer?

Couples looking for a romantic weekend. Potential customers can be of any social status; however, due to room rates, the customer will probably be middle class to upper middle class. The Granite State Inn is surrounded by a romantic atmosphere it is aiming to bring in adults of both genders

Perfect for a New England vacation!

What Needs or Wants Will The Granite State Inn Fulfill?

The Granite State Inn will be able to offer rooms to anyone who may be visiting the area and needs a room. The Granite State Inn will be able to provide a friendly, romantic, and clean environment to any guest who may want it.

Perfect for a New England vacation!

What Needs or Wants Will The Granite State Restaurant Fulfill?

The Granite State Restaurant will be able to offer meals to anyone who is staying in the Inn or anyone from the general public. The Granite State Restaurant will be able to provide an array of tasty meals to any diner.

Perfect for a New England vacation!

Market Research Results

Potential guests wanted prices ranging from $150- $250. Potential Guest would rather stay at a B&B instead of an inn, hotel, or motel. Most potential guests would not travel during the holidays. Most potential guests would like an antique dcor paired with a romantic atmosphere. Potential diners would like to dine in a casual atmosphere inside of the establishment they are staying at. Potential diners would be most likely to pay $15- $20 per person. When searching for vacation ideas, most people look on travel websites over the internet.

Perfect for a New England vacation!

Survey Results
Top Travel Spots

Reasons for Travel

Northwest Mountain Region Southwest Region Centeral Region Eastern Region

Western Pacific Region Southern Region Great Lakes Region New England Region

Vacation

Family

Perfect for a New England vacation!

Survey Results
Prices

Where to stay?

$50-$100 $150-$200

$100-$150 $200-$250

Hotel

Motel

Inn

B&B

Perfect for a New England vacation!

Survey Results
Holiday Travel

Looking for Holiday Deals?

Yes

No

Yes

No

Perfect for a New England vacation!

Survey Results
Decor
Atmosphere

Antique/ Victorian Lodge Style No Answer

Modern No preferance

Family Friendly

Romantic

Business

No Answer

Perfect for a New England vacation!

Survey Results
Where to dine?

Food Preference

Dining Cost
Outside Inside Both

Home-Style Casual

Elegant No answer

Perfect for a New England vacation!

$5-$10

$10-$15

$15-$20

$20-$25+

Survey Results
Adv e rtise me nt M e thods

Travel Resources

Newspaper ad Flier

Magazine Article Internet

Search Engines AAA Books

Travel Websites Friends

Travel Agency Research

Perfect for a New England vacation!

Influence of Market Research on Prior Business Plan

The Granite State Inn will offer guests a romantic environment with antique dcor. Rooms will be priced from $150-$300. The Granite State Inn will offer holiday and lengthy stay deals. Diners will have many food options priced around $15 per person.

Perfect for a New England vacation!

Sales Presentation
Looking for a place to stay for a romantic weekend? Do you look for friendly service, cozy rooms, and great meals? Would you like to stay in a place that offers the best of every season? The Granite State Inn and Restaurant is the perfect place to go for a New England vacation!

Perfect for a New England vacation!

Business Card

Perfect for a New England vacation!

Sarah Santiago
Lane 90 Hearth Stone Wilton, NH 01562 Phone: (603) 654-6091 Fax: (603) 654-6092

[email protected]

Perfect for a New England vacation!

Advertisement

With friendly service, cozy rooms, and great meals, The Granite State Inn and Restaurant is the perfect place to go for a New England vacation!
Rooms range from $150- $350 90 Hearth Stone

Lane Wilton, NH 01562

Phone: (603) 654-

Perfect for a New England vacation!

The Granite State Inn and Restaurant Slogan:

Perfect for a New England Vacation!

Perfect for a New England vacation!

How Will The Granite State Inn and Restaurant Reach Its Potential Customers?
Newspaper ads. Magazine Articles. Search Engines. Travel Websites

Perfect for a New England vacation!

Financial Statements Economics of Presidential Room

Selling price per unitCost of goods sold per unitLaundry: Cleaning: Soaps: Stationary: Total: 25% overhead: Total: Gross Profit per Unit: $350.00 $ $ $ $ $ $ $ 10.00 10.00 5.00 2.00 27.00 6.75 33.75

$316.25

Perfect for a New England vacation!

Financial Statements Economics of Executive Rooms

Selling price per unitCost of goods sold per unitLaundry: Cleaning: Soaps: Stationary: Total: 25% overhead: Total: Gross Profit per Unit: $250.00 $ $ $ $ $ $ $ 10.00 10.00 5.00 2.00 27.00 6.75 33.75

$216.25

Perfect for a New England vacation!

Financial Statements Economics of Regular Rooms

Selling price per unitCost of goods sold per unitLaundry: Cleaning: Soaps: Stationary: Total: 25% overhead: Total: Gross Profit per Unit: $150.00 $ $ $ $ $ $ $ 10.00 10.00 5.00 2.00 27.00 6.75 33.75

$116.25

Perfect for a New England vacation!

Financial Statements Economics of The Granite State Restaurant

Breakfast Selling price per unitCost of goods sold per unit25% overhead: Total: Gross Profit per Unit: $ 15.00 $ 5.00 $ 1.25 $ 6.25 $ 8.75 Lunch Selling price per unitCost of goods sold per unit25% overhead: Total: Gross Profit per Unit: $ 30.00 $ 10.00 $ 2.50 $ 12.50 $ 17.50

Dinner Selling price per unitCost of goods sold per unit25% overhead: Total:

$ 35.00 $ 15.00 $ 3.75 $ 18.75

Gross Profit per Unit: Perfect for a New England vacation!

$16.25

Start-up Costs
Start- Up Capital Requirements Start-up Expenses Advertising Starting Inventory Building construction Cash Decorating Deposits Fixtures and equipment Insurance Licenses, permits, and fees Computers Services Signs Supplies Unanticipated expenses Total Start-up Costs Estimated costs $1,000 $1,000 $750,000 $500 $30,000 $850 $30,000 $20,000 $1,000 $3,000 $300 $1,000 $2,500 $25,000 $866,150 Where will I buy these? + info call paper and magzines to see if they will write an article+ yellow pages Food from local vendors use family help and family discounts Bank Misc. Places including antique stores, pottery barn, dept. stores, etc. Lowes, Home Depot Misc. Walmart, lighting places, sears, etc. The Hartford Misc. Dell Misc. Barlo Signs Staples, wholesalers Items Yellow Pages and News Papers Food for Resaurant Lumber, electric, plubing, etc. Linens, Pictures, rugs, furniture, etc. Electric, Phone, Water, Etc. Kitchen supplies, smoke detectors, sprinklers lights, etc.

1 or 2 computers Lawyer, accountant, trash, etc. Entrance signs Paper, cleaning, office supplies

Perfect for a New England vacation!

Sources of Financing
P rs n l e oa sv g a in s La on R la e e tiv s F ns rie d G n ra t T ta o l: Mx u a im m In re t te s R te a : $0 0 5 ,0 0 $ 0 ,0 0 80 0 $ ,0 0 5 0 $ ,0 0 5 0 $0 0 1 ,0 0 $ 7 ,0 0 80 0

1% 0

Perfect for a New England vacation!

Yearly Income Statement

Revenue Room Rate Breakfast Lunch Dinner Total Monthly Revenue Cost of Goods Sold Room Rate Breakfast Lunch Dinner Total Monthly Costs Gross Profits Jan Feb Mar Apr $2,250 $3,150 $6,000 $7,200 $7,905 $7,905 $8,835 $8,835 $13,950 $13,950 $14,880 $14,880 $32,550 $32,550 $32,550 $32,550 $56,655 $57,555 $62,265 $63,465 May $12,750 $9,300 $16,740 $32,550 $71,340 June $18,000 $9,300 $16,740 $32,550 $76,590 July $18,000 $9,300 $16,740 $32,550 $76,590 Aug $12,750 $9,300 $16,740 $32,550 $71,340 Sept Oct Nov Dec $12,750 $9,000 $6,750 $6,750 $9,300 $8,835 $7,905 $7,905 $14,880 $13,950 $13,950 $13,950 $32,550 $32,550 $32,550 $32,550 $69,480 $64,335 $61,155 $61,155 Totals $115,350 $104,625 $181,350 $390,600 $791,925

$75 $105 $200 $240 $450 $675 $675 $450 $450 $300 $225 $225 $4,070 $2,635 $2,635 $2,945 $2,945 $3,100 $3,100 $3,100 $3,100 $3,100 $2,945 $2,635 $2,635 $34,875 $4,650 $4,650 $4,960 $4,960 $5,580 $5,580 $5,580 $5,580 $4,960 $4,650 $4,650 $4,650 $60,450 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $13,950 $167,400 $21,310 $21,340 $22,055 $22,095 $23,080 $23,305 $23,305 $23,080 $22,460 $21,845 $21,460 $21,460 $266,795 $35,345 $36,215 $40,210 $41,370 $48,260 $53,285 $53,285 $48,260 $47,020 $42,490 $39,695 $39,695 $525,130

Operating Costs Fixed: Salaries $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $60,000 Insurance $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $30,000 Interest & Payment on Loan $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $20,000 $240,000 Total Fixed Costs $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $27,500 $330,000 Variable: Utilities Advertising Total Variable Costs Total Monthly USAIR Profit Before Taxes Taxes Net Profit

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$2,500 $500 $3,000

$30,000 $6,000 $36,000

$30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $30,500 $366,000 $4,845 $1,211 $3,634 $5,715 $1,429 $4,286 $9,710 $10,870 $17,760 $22,785 $22,785 $17,760 $16,520 $11,990 $2,428 $7,283 $2,718 $4,440 $5,696 $5,696 $4,440 $4,130 $2,998 $8,993 $9,195 $2,299 $6,896 $9,195 $159,130 $2,299 $39,783

$8,153 $13,320 $17,089 $17,089 $13,320 $12,390

$6,896 $119,348

Perfect for a New England vacation!

Return On Investment
For The First Year of Business

Formula: ROI= $119,348 - $866,150 (100) $866,150

ROI= -86%

Perfect for a New England vacation!

Technology
Computer, Telephone, Fax Gateway Computer: To Keep Good Records Telephone: To receive and cancel reservations Hosted By Yahoo: A form of advertisement; so guests can view rooms and options for their trip. The home page will also allow guests to make reservations Quickbooks Pro 2005: Great for keeping financial records. TDSmail: To inform guests of confirmations, deals, cancellations, local weather, etc.

Homepage

Accounting Software E-mail

Perfect for a New England vacation!

Future Additions
More rooms More dining area Pool Event planning services Conference Room

Perfect for a New England vacation!

How to Keep The Granite State Inn and Restaurants Success:

Maintain Cleanliness Keep staff friendly and happy Keep guests happy Offer deals Continuously present something new and exciting to keep customers interested

Perfect for a New England vacation!

How to Tell If The Granite State Inn and Restaurant Are Successful:
Returning Customers Good Reviews from Critics Smiling Customers!

Perfect for a New England vacation!

Thank you for your time. If you have any questions please feel free to call 1- 603- 654- GSIR.

Perfect for a New England vacation!