BU352 Lecture Notes - Lecture 1: Target Market, Kxrk, Cash Flow
Document Summary
Whether to open jm signature restaurants or not: take over lease of the failed cape cod club. Targeting business clientele (lunch and dinner, with dinner hopes of /person: love affairs, business deals and friendship. Wants to attract people after theatre shows. Customers have option of having recipes emailed to them to reminisce or try at home. Joshua has a strong reputation/track record: karma, lynx. Reputation of stakeholders: top ranked chefs, joshua, investors in the business. His passion for the current area is blinding financial projections. May most likely be a failure because turnover is too high. Position restaurant in a different way (focus heavily on style/environment) Use more technology to reduce salaries for staff. Potentially transform to host venues at night for additional profit: club hours after 10pm. Change expectation to a loss in 1st operating year so projections aren t so optimistic. Rely heavily on public relations + word of mouth to reduce advertising costs.
