Featured Project: Vien Restaurant
Julia Heyer met Mark Sy, owner of Vien, when he was a student in the Culinary Management program at the Institute of Culinary Education. For his final business plan, he developed a great idea for a “hip” Southeast Asian restaurant concept in Manhattan but was unsure of how to create the financial parameters for such a venture.
Mark turned to HPI to help bring his concept to life. HPI worked with the Vien team to align brand, product and intended guest experience with functionality and financial parameters. For the latter piece, HPI helped Mark translate his concept into financial projections. Based on these projections, we developed the opening budget to determine the fundraising requirements for opening the prototype of Vien, while ensuring a rewarding return on investment (ROI).
During the development stage, HPI facilitated decisions made about critical elements such as menu, brand, staffing, site selection, build-out, construction, design and lease negotiation so that they were aligned with the business framework. HPI set up the systems to not only engineer the menu from the start, but also to manage inventory, production and product cost. These systems are scalable to support future expansion of the concept which is plannedHPI was there to support the opening of Vien by coordinating the many moving parts. This allowed Mark to focus on the most pressing matters at hand during an exciting yet hectic time.
Specific services included:
- Opening budget development
- Menu development in the context of the business model
- Full costing & inventory system development and set up
- Pricing strategy