RESTAURANT UNIT ECONOMICS
We believe that our concept has the ability to reach annual revenue of $3.5 million in the Woodland Hills location, equating to approximately $650 per square foot. Comparable restaurants, such as California Pizza Kitchen, generate average unit revenues of anywhere between $400 to $700 per square foot. We also believe that our touchscreen ordering feature, which eliminates the need for wait staff, will allow us to achieve labor costs savings that will help us generate higher annual per unit free cash flow than comparable fast-casual restaurant concepts.
As we develop additional company-owned restaurants as well as franchised restaurants, we expect our concept to generate average per square foot unit revenue of $550, with technology-related labor cost savings continuing to result in higher free cash flow than comparable fast-casual concepts.
OUR MENU
Our menu features a selection of appetizers, pizzas, burgers, salads, pastas, and desserts. We are targeting menu prices from $3.95 to $8.95 for appetizers and soups, $5.95 to $10.95 for salads, $6.95 to $9.95 for sandwiches and lunch entrees and $6.95 to $23.95 for dinner entrees. We believe our average guest check for lunch will be $10.00 to $14.00, and for dinner will be $12.00 to $18.00, excluding alcoholic beverages.
DECOR AND ATMOSPHERE
We utilize a combination of warm earth tones, rich wood finishes and brushed metals to juxtapose the technology features of our restaurant. We use a variety of lighting to deliver a warm glow throughout our restaurant and expect to be able to adjust our dining atmosphere throughout the day by adjusting the lighting, music, and the computer-driven images that are projected on our walls.
MARKETING AND ADVERTISING
We expect that our ongoing marketing strategy will consist of various public relations activities, direct mail, and word-of-mouth recommendations. We believe that public relations and word-of-mouth recommendations will likely be a key component in driving guest trial and usage.
We have implemented a coordinated public relations effort in conjunction with the opening of the Woodland Hills location. This effort may be supplemented by radio, print advertisements, direct mail campaigns, and other marketing efforts. In addition, we will use our website, www.uwink.com, to help increase our brand awareness.
RESTAURANT OPERATIONS
John Kaufman, our Director of Restaurant Operations, helped build California Pizza Kitchen from a single restaurant into one of the country's leading restaurant chains. Mr. Kaufman also served as Chief Operating Officer of Rosti restaurants and President and Chief Operating Officer of the Koo Koo Roo restaurant chain.
Mr. Kaufman is responsible for all facets of restaurant operations and food and menu development for uWink.
OUR BUSINESS AND GROWTH STRATEGY
Our near term strategy is to prove our concept at the Woodland Hills location and subsequently seek to open 2 to 3 additional company-owned and/or managed restaurants within the next 3 to 6 months.
Our longer term growth strategy is to open additional company-owned and/or company-managed restaurants in new markets and to franchise our concept, focusing on multiple-unit area development agreements with experienced operators. We are targeting a mix of one-third company-owned restaurants and two-thirds franchised restaurants. We expect we will also seek to generate additional revenue through the sale of media equipment to franchisees.
We are targeting 5,000 - 10,000 square foot locations in high traffic shopping centers as the sites for future restaurants.
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uBuy until uSell - uWink, uWait, uWin! - Netman
I base my trading decisions on my own DD, research, evaluation, constant re-evaluation, insight and information. Everyone should do their own DD, and constantly evaluate their own conclusions IMO.
