Business history and work experience
My family has established a restaurant in 1995. Now all works of the restaurant are organized by me. At the same time I have cattle breeding farm with 20 cows and 13 calves. I sold milk as well as cheese and other dairy products. I work in school as a teacher in Lisagor village.
Description of Business Idea
I am planning to open a hostel near the restaurant in 2010. There is a building with 6 rooms.
Market Analysis and market share
To estimate the restaurant market demand we take account our experience. For the estimation of the hostel market we did market research among the lorry drivers.
There are 3 restaurants near the road from Stepanakert to Goris. These restaurants have 20 million drams incomes annually.
Speaking about hostel market, we can say that monthly in this sphere is spend 3 million drams.
For 2009 the annual income of the restaurant was 6 million drams. I am planning to increase the income by 20-25% and for 2010 have 7,5 million drams income.
Taking account the fact, that hostel is near the restaurant and road, and it is the only one in this way, I account 100 customers for a month or 500,000 drams monthly income.
The company has two groups of competitors: first the restaurants and second the hostels.
The company has advantages in both of them. The main advantage is the place of the building. It was close with main road of Goris- Stepanakert. The company works more than 15 years and has regular visitors.
I must say that the restaurant and hostel need new furniture and toilets.