The Sports Restaurant (Final Paper) - Essay Example

September 12, The Sports Restaurant Management Team and Organization Who will be involved in this business andwhy? The Sports Restaurant would be managed by an executive team composed of the proprietor (owner of the business who invested funds or capitalization to establish it), the operations manager, a finance manager, and a team of workers who would be involved in the day-to-day operations (cooking, servers, housekeepers, cashier, and accounting staff). Since the restaurant is still being launched, the smallest number of personnel are required to ensure that the business would run efficiently as well as maximize the potentials of a working and managing team. 2. What are the critical skills and abilities needed to start and run the proposed business?

The critical skills and abilities needed to start and run the proposed business would come from the management team with the following skills: entrepreneurial, leadership and management, communication, problem-solving, conflict-negotiation, and genuine enthusiasm as well as knowledge in running a restaurant.Financial Plan3. How much capital will you need to launch the venture? The minimum capital requirement for a small business venture would be $1.2 million; broken down as follows:Capital Expenses: Land and building $ 550,000 Equipment 100,000 Furnishings 75,000 Kitchen Utensils 50,000Working Capital first six months Salaries and wages 300,000 Utilities 15,000 Supplies 60,000 Incidental Expenses 50,0004.

What are the key assumptions for how and why this business will make money? The key assumptions for how and why the business will make money are as follows:It would make money through effective strategies using the 4Ps: Product: since the core competency of the sports restaurant is the use of very healthy and high protein organic food and supplements, as well as the preparation food could be tailored according to the customers’ distinct tastes and preferences, the restaurant is expected to be appealing to the health conscious clientele.

Place: to be situated in commercial district where business or even universities abound. Price: competitively priced since sources of raw materials could be supplied by local dairies, farms, and reliable suppliers. Promotions: initially in local advertising medium: radio, flyers, posters, to name a few.5. How much income will this business likely provide and when? The income is expected to start coming by the fourth to sixth month and onwards. Initially, an income of about $20,000 to $25,000 would be registered by the 4th month and start increasing through increased customer patronage due to greater awareness.6. What is your breakeven point?

The breakeven point is computed by when sales or revenues exactly cover the expenses. For instance, in the first month, when sales generated is $10,000 and the expenses is also $10,000, then the restaurant could be pegged as exhibiting the breakeven point.Launch Time and Implementation Risks7. What needs to be accomplished in order to get the business up and running? To get the business up and running, the launch time line should be accurately determined and scheduled, as well as risks and performance review, according to the Gantt chart below: Details3 months prior Mo. 1Mo. 2Mo. 3Mo. 4Mo. 5Mo. 6Launching dateSite Preparation and business permitsxRecruitment xxTraining xxFinishing touches of sitexPurchase of furnishings, kitchen suppliesxPurchase of ingredients, etc.

xAdvertisementsxxDry RunxIdentification of risks and initial performance reviewx