| Our
Strategy
Our goal
is to become the leading neighborhood destination for socializing,
eating and drinking. We anticipate our primary source of revenue
growth will be the addition of new restaurants and increased
sales at existing locations.
New
Unit Growth.
We anticipate that the addition of new restaurants, in both
existing and new markets, will be a major source of growth
for us. We carefully select new locations based on a variety
of factors including local market demographics, site visibility,
traffic count, nature of the surrounding retail environment
and accessibility and proximity to major retail centers, office
complexes, hotels and entertainment centers. We plan to open
between ten and twelve locations in fiscal year 2005.
Increase
Sales at Existing Locations.
We seek to increase sales at our existing restaurants by continuing
to implement the following strategies:
- Best
Practices Initiatives. We allow our restaurant-level managers
significant latitude to test and implement restaurant-level
initiatives intended to increase sales or efficiency or
improve the overall customer experience. We actively monitor
these initiatives at a corporate level and seek to implement
successful single-restaurant initiatives as best practice
initiatives company-wide.
- Promotional
Events. We attempt to increase sales at our restaurants
by building brand awareness through word-of-mouth and promotional
events in our restaurants. These promotions are intended
to both increase the frequency of visits by existing customers
and to attract new customers to our restaurants.
- Corporate/Group
Events. We believe that our restaurants provide an ideal
gathering place for corporate and private groups. The multi-room
design of our restaurants allows groups of people to socialize
without being interrupted by other customers. Most locations
employ event coordinators who are responsible for marketing
to groups and creating customized corporate and private
events. In addition to contributing to revenue, these events
facilitate the introduction of new customers to our restaurants.
- Menu
Updates. We regularly update and introduce new menu segments
and items in order to attract new customers and drive customer
frequency, customer satisfaction and overall restaurant
sales. We continually review our menu based on feedback
from our customers and our secret shopper program.
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