Executive Summary
Business Name: Empire Bites NYC
Business Type: Full-Service Restaurant
Cuisine: Modern American with Global Influence
Location: Manhattan, New York City
Target Market: Young professionals, tourists, food enthusiasts, and local residents
Mission: To offer an exceptional dining experience through innovative dishes, impeccable service, and a stylish, comfortable atmosphere.
Business Objectives
-
Launch the restaurant within 6 months.
-
Achieve breakeven within the first 12 months.
-
Generate $1 million in annual revenue within the first 2 years.
-
Maintain a customer satisfaction rating above 4.5 on all major platforms.
1. Market Research
Industry Overview
-
NYC is home to over 24,000 restaurants.
-
The NYC restaurant industry generates over $50 billion annually.
-
Post-COVID recovery has seen steady growth with increased dine-in and delivery demand.
Target Market
-
Age: 25-45
-
Income: $60K+
-
Lifestyle: Social, urban, tech-savvy, culturally diverse
-
Preferences: Healthy, locally-sourced ingredients, quick yet high-quality meals, good ambiance
Competitive Analysis
Competitors:
-
Momofuku Noodle Bar
-
Balthazar
-
Jack’s Wife Freda
Competitive Advantage:
-
Unique menu blend of American classics with global street food.
-
High-end casual dining at mid-range prices.
-
Prime location near residential and tourist hotspots.
-
Strong branding and local influencer partnerships.
2. Restaurant Concept
-
Theme: Urban rustic with industrial design.
-
Menu Highlights: Korean Fried Chicken Tacos, Truffle Mac and Cheese, Plant-Based Burgers, Craft Cocktails.
-
Capacity: 70-seater indoor space with sidewalk café.
-
Service Style: Table service with QR-code ordering option.
-
Hours: Mon–Sun, 11 am – 11 pm
3. Location & Setup
-
Proposed Location: East Village or Williamsburg
-
Rent Estimate: $12,000 – $18,000/month (depending on square footage and borough)
-
Lease Term: 5-year lease with 5-year renewal option
-
Renovation & Buildout Cost: Estimated $150,000–$250,000
4. Legal Requirements
-
Business Structure: LLC (Limited Liability Company)
-
Licenses & Permits:
-
Food Service Establishment Permit
-
NYC Health Department Inspection Certificate
-
Alcohol Beverage Control License (if serving liquor)
-
Sign Permit
-
Commercial Kitchen Permit
-
-
Insurance:
-
General Liability
-
Workers’ Compensation
-
Property Insurance
-
5. Marketing & Promotion Strategy
Branding
-
Logo, name, menu, interior, and digital presence designed for consistency.
Online Marketing
-
Launch website with reservations, menu, and ordering features.
-
SEO-optimized content targeting phrases like “best restaurants in NYC,” “new restaurants NYC,” “modern American cuisine NYC.”
-
Google My Business optimization
Social Media
-
Instagram and TikTok-focused launch campaign
-
Influencer partnerships
-
User-generated content promotion
Offline Marketing
-
Grand opening event with press invite
-
Flyers and neighborhood coupons
-
Partnerships with local events and schools
Loyalty Program
-
App-based points system for repeat customers
-
Exclusive deals for loyalty members
6. Operations Plan
Staffing
-
Executive Chef
-
Sous Chef
-
Kitchen Staff (3-5)
-
Servers (6-8)
-
Host (1-2)
-
Bartender (2)
-
General Manager
Total Staff: ~15–18
Vendors & Suppliers
-
Local farms and markets for fresh produce
-
Beverage distributors
-
Equipment suppliers (local and online options)
7. Financial Plan
Startup Costs Estimate
| Expense Category | Estimated Cost |
|---|---|
| Lease Deposit & Rent | $36,000 (2 months) |
| Renovation/Buildout | $200,000 |
| Equipment & Furniture | $80,000 |
| Licenses & Permits | $5,000 |
| Marketing & Branding | $15,000 |
| Working Capital (6 mo.) | $150,000 |
| Total Estimate | $486,000 |
Revenue Projections (Year 1)
| Revenue Source | Monthly | Annual |
|---|---|---|
| Dine-In Sales | $60,000 | $720,000 |
| Takeout/Delivery | $15,000 | $180,000 |
| Catering & Events | $5,000 | $60,000 |
| Total Revenue | $960,000 |
Profit & Loss Projections
-
COGS: 30%
-
Labor Costs: 35%
-
Rent & Utilities: 12%
-
Marketing & Misc: 8%
-
Profit Margin (Net): ~10-12%
8. Funding Requirements
Funding Needed: $500,000
Funding Sources:
-
Personal savings: $100,000
-
SBA loan: $250,000
-
Investors or partners: $150,000
Use of Funds: Buildout, equipment, staffing, marketing, working capital
9. SWOT Analysis
| Strengths | Weaknesses |
|---|---|
| Prime location | High startup costs |
| Unique menu concept | Competitive industry |
| Experienced team | Economic fluctuations |
| Opportunities | Threats |
|---|---|
| Delivery app expansion | Rising ingredient costs |
| Event hosting | Labor shortages |
10. Growth Strategy
-
Open second location within 3 years.
-
Introduce branded product line (sauces, snacks).
-
Expand catering and B2B services.
-
Franchise model or licensing opportunities after Year 5.
