Business Proposal Is Based On A Family Restaurant

Published Date: 02 Nov 2017

Bachelors Capstone Final Project

First Name, MI, Last Name

Course Number and Section

Professor

Table of Contents

14

Section 1: Executive Summary 15

The business proposal is based on a family restaurant called My Restaurant, the title is purposed to the customers to incite that it is friendly and the customer is always rite. Furthermore, the business will be based outside of Hanford CA, running along interstate 198. Moreover, the vision is to provide quality food and service at a reasonable cost to the customer at the same time maintaining a profitable operation. 15

The restaurant will provide excellence in customer service to families or friends through the staff of waitresses and chefs with smiles and greetings that make the customers comfortable as if they were at home with personal staff. In addition, the plan is to concentrate on making the restaurant a premier restaurant with an impressive market share with in a three year time frame. In addition, seeking customer responsive in services, development and building customer loyalty, furthermore the financial plan is to obtain a 600,000 thousand dollar loan to start the business covering all costs and be able to stay afloat for the next three months after opening setting a goal to pay the loan in three year time. 15

Section 2: Code of Conduct 16

All persons will be held to professional and personal behavior. Moreover, truthfulness to seek or give honest recommendations to better the companies integrity and service will be rewarded. In addition, all personal shale make decisions and act in the best interest of the company while overcoming day to day challenges maintaining business integrity. In addition all employees shale show respect to all co-workers and listen to each other to create a well maintained team by obtaining positive change and business improvement. 16

"Respect for coworkers and their respective roles in the workplace encourage a collegial work atmosphere. It also fosters collaboration, synergy and cooperation, which are essential ingredients for creating a workforce that values productivity" ("Why Is Respect Important in a Diverse Workplace, Chron.com" 2013). Hence, the importance to maintain morale, quality, excellence and the capability through self-recognition with hard work and dedication! 16

Excepted behavior 16

Place loyalty above all to co-workers. 16

Respect one and other at all times keeping personal feelings aside. 16

Give an honest effort while at work. 16

Report any suspicious activities to appropriate authorities. 16

Examples of unacceptable behavior 16

The use of nonpublic information that may benefit oneself interests. 16

Make or deal in unapproved promotions that hinder the business. 16

The use of the business’s resources to conduct other acquisitions while on the job. 16

Hold financial interests that conflict with the business. 16

Section 3: Operations 17

Teamwork is the key to any operation from small business to cooperate, principally where workers are, expecting to achieve independence without any supervision. Thus forming an effective team is crucial and must be the first priority. 17

Daily operations 17

The daily operations would consist of prepping for the next day in the kitchen, cleaning up and making sure the food in the freezer is still good by inspecting it. Also need to ensure where people sit to eat is clean thoroughly. Furthermore, the daily operations would very, due to business, one day might be busy, and the other day it might be slow. Hence, the daily operations and noticing trends can predict how much to prep also how many people need to be working that day. The restaurants daily operations from serving, cooking food, and keeping the place whistle clean. 17

Plan to service client base 17

In My restaurant will have waiters for customer service, sending them to school or higher the ones who have certificates in customer service. In addition, communication between the waiter and the cooks is the key to operating effectively to insure orders are right. Furthermore, the tables would be numbered so it would be easier to serve customers by remembering what table had what. 17

Customer service 17

The restaurant experience depends on the decor from music, to lighting. In addition, this is where personal booths would come in; it will allow personal dining to romantic dining where the music and lighting can be control. Furthermore, the staff in this area should have systems in place to maintain all of these elements. In addition, the staff will be responsible for taking care of most of the customers. Moreover, this will include seating arrangements, taking orders, and delivering of the food. In addition, they should follow up with the customers to ensure satisfaction. 18

Behind the scene 18

This is where the staff will be responsible for ordering and storing inventory, prepping, executing orders, and keeping the kitchen clean throughout the shift. In addition, inventory, "managers should maintain spreadsheets indicating what they have on hand as well as what they need to order" (Gartenstien, 2018). Furthermore, storage systems should "situate frequently used items in the most accessible places and allow sufficient space for rotation of stock" (Gartenstien, 2018). In addition, dissimilar kitchen staff should have responsibilities for the unalike tasks, such as cooking meat to soups or deserts. Furthermore, cooks should keep their areas clean and cleaning staff should clean after shift as well. 18

Communication 18

My restaurant will have structures in place to synchronize the work of its kitchen employees and its servers. In addition, waitpersons should convey customers’ orders to the kitchen correctly and sufficiently. In addition, chefs should attempt to complete all orders approximately the same time, and they should have systems for joint information to the servers that the orders are ready or any problems they have. Furthermore, servers should communicate with kitchen staff about customers' special needs such as food allergies. Moreover, when difficulties arise, the waitpersons and kitchen staff should work together to professionally solve any problems that may come up. 19

20

20

Section 4: Marketing Plan 21

Marketing Strategy 21

The particular objective is to position My Restaurant as a premier restaurant in Hanford, imposing market share within five-year time. In addition, the marketing strategy will seek to create customer responsiveness regarding the services offered, develop of a customer base, and building customer loyalty or recommendations. Thus, the message that My Restaurant will seek to communicate the offers of fresh, creative, health sensible, and realistically priced. 21

The first way to establish marketing is with direct mail, the direct mail operation will be a way to communicate openly with the consumer. Furthermore, My Restaurant will also use banner ads and inserts in the Hanford Sentinel. Thus, it will be particularly effective since the Hanford Sentinel is a popular local paper that is checked when individuals are looking for things to do in Hanford. 21

This campaign will leverage personal relationships with people on staff of the Hanford Sentinel to get a couple of articles written about My Restaurant. Moreover, one way to do this will be from the business viewpoint, talking about the opening of the restaurant and the people behind the project. Thus, it is likely to be run in the business section of the paper. Furthermore, the second article will be a food review from a food critic. Thus, in hopes of speaking with many different retailers and restaurateurs, significant increases of traffic followed articles in the Hanford Sentinel. Since, this level of success and low cost, My Restaurant will work hard to get press in the Hanford Sentinel. 21

Marketing Mix 22

My Restaurant marketing mixture involves of these following tactics to distribution, pricing, promotion, advertising, and customer service. 22

• Pricing: My Restaurant pricing will be product cost is 30% of the total retail price. 22

• Distribution: My Restaurant food will be concentrated through a takeout model where the customers can call in their order and come to the restaurant to pick it up. 22

• Advertising and Promotion: The successful advertising will be conducted through inserts and banner ads in the Hanford Sentinel as well as informational articles and reviews within the Hanford Sentinel. 22

• Customer Service: My Restaurant viewpoint is that whatsoever needs to be done to make the customer happy must occur, even at the expense of earnings. Furthermore, this venture will pay off with a loyal customer base that is exceptionally vocal to their friends with recommendations. 22

Section 5: Information Technology 23

My Restaurant technology will consist of a complicated server set up where one computer will store information and the others will access the information. Cloud technology allows a business or personal information accessibility through the web. "End users, access cloud-based applications through a web browser, a light-weight desktop or mobile app. while the business software and user's data are stored on servers at a remote location" (Earthnet, 2012). Therefore, allowing access to software and records through 23

Productivity 23

Financials 23

Marketing 23

Communication 23

Customer service 23

Mobile Office 23

Productivity 23

In productivity, the software will enable time cards for the workers. For an example, "Time-Force helps collect, manage, track, and organize your employee time" (TimeForce, 2011). Furthermore, this is just one of the many firms that allow owners to establish when the workers are late or on time. Thus, keeping track of the employees time will allow bank rolls quality and ninety percent accident free. 24

Financials 24

On the financial side of the house, an accounting program will keep track of accounts in all areas, for an example "GnuCash that allows tracking of bank accounts, stocks, income, and expenses. As quick and intuitive to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports" (GnuCash, 2012). Furthermore, using a cloud system will open the door over the internet to share information with bank loans, or an accountant over the web. 24

Marketing 24

No business should go without some sort of marketing plan so software in this department will target the aspect of updating or just sharing ideas with the employees for advertisement. Thus, websites like Facebook or twitter would be crucial for marketing. Hence, the billions of people on the website looking for places to eat while on the road or just hungry customers. In addition, E-mail utilization will collect a client base for promotions and advertise the restaurant. 24

Communication 24

The communication technology can range from teleconferences to obtaining knowledge online. Furthermore, memos could be sent to all employees for any changes that would come up at the same time allowing employees training sessions on line to enhance the knowledge of employees. Thus, My Restaurant would have a small computer room so the employees would be able to log in into classes or training sessions. Hence, virus protection, and time limit integration into the computers. 25

Customer Service 25

Domino’s has where you can order food online just by simply going to their website at http://www.dominos.com/. Thus, the online order system generally is similar to the domino’s website. However, one thing would be added to the website allowing customers to reserve sitting areas for parties or gatherings. Hence, allowing businesses, sport groups, etc. allowing time slots to eat at My Restaurant. 25

Mobile Office 25

The mobile office technology through Microsoft windows for example allows the owner to access documents of the business computer. Thus, establishing a mobile office allows access to key documents when needed for expansion ideas, partnership expansion, or everyday journeys. In addition, allowing full access to the business computers for decisions on bankroll for the employees. Therefore, the use of cloud or other programs like it allows a business to flow wherever and whenever, at any time. 25

Compaq PC – this will be the main server for the other laptops and printer control. Thus, the main brain all other computers such as laptops or other PCs will draw their information from this one PC. Furthermore, the computers will come from Compaq and combine into a delicate main stream, using firewalls and an antivirus system from Norton or MacAfee. Additional protections may include encryption that the systems and user passwords can access. 26

Besides the clouds, database external hard drives will back up data on a daily bases and one standalone computer away from the internet will be used when systems fail or there is a security breach. Thus, the data can be used offline securely. Hence, enable all operations to resume and the most important thing the track of employee’s proper payroll. This machine will be located in a back office only allowing the management to access. 26

Section 6: Financial Plan 27

Start Up Statements 27

Rent or operating costs lists two sections expected costs and lead room costs in table 1 through table three. Furthermore, the expected cost is what is expect to pay and by leaving a lead way or a cushion to pay for the start of a business. In addition, the rent and operating costs show security deposit, rent and utilities with fix cost and onetime payments for instants, to rent a building a security deposit is placed and first month’s rent. Thus, the security deposit is a onetime payment and the rent is a fix cost paid every month. 27

The establishment that is rented may allow some reconstruction on the inside of the building. Moreover, the kitchen may be in the need to be remodeled along the dining areas has been taken in consideration. Furthermore, furniture will come from other sources through catalogs that will concentrate on providing comfort, also required is serving wear this also includes pots. pan, cups, knives, and everything else that would be required for operation. Thus, these costs are one time payments, however the profit that is made will create a replacement account to replace broken dishes or cook wear. In addition, the startup food will be a fix cost and variable depending on month to month sells. 27

The miscellaneous expenses are fixed costs with a decline in the amount of money is spent to uphold licenses/permits; accounting costs, ordering systems, and advertisement. The insurance should maintain or go down in time; however the cost diminishes but the fix still remains. 27

Income Statement 28

Table 4 has My Restaurants income statement is based on if it sold 8,000 thousand dishes at $8 dollars per plate, carrying over the remainder of the previous year income to the next, the income statement shows expenses and the amount of money that a company makes each month, quarterly, semi-annually and annually to insure the business has funds to operate and pay for any surprising expenses. 28

Income statements can be used in many areas for instance it is used to create cash flow statements, and to show expenses like: rent, employee paychecks, utilities, stock of items and so forth. Thus, a proper income statement is very vital to a business operations, and can be reviewed monthly, and yearly to find areas to improve on or to make cut backs. 28

Lastly income statements track all outgoing and incoming transactions with in the company. If a mistake was to be made on the income statement it could hurt the cash flow statement giving false information that can lead to jail time or even a denial of a loan hurting the business. Thus, Income statement must be accurate and defined so proper decisions can be made and for a proper cash flow statement to be made. 28

Cash Flow Importance 28

A statement like the cash flow is considered to be one of the main financial tools to a business. Furthermore, the cash flow statement can be broken in three different categories. Moreover, the categories list any investing or financial activities from stock of items to every day operations like materials. For instance, meat that is stocked to last for a week or everyday uses like olive oil, butter, etc… The other areas that the cash flow covers are the operating activities like net earnings. 29

My Restaurant is using depreciation on the equipment for the kitchen and computers that declines each year in table 5. The inventory of the foods can be sold so it can also be counted as money. The net earnings were carried over from the income statement based on the eight thousand dishes sold at eight dollars per plate. The notes, payable were the loan used to start up the business and paying it off in three to four years’ time frame. 29

Hence Cash Flows showing the first portion as sells made during the year, the cash flows can also be done as a monthly, quarterly, annually and semi. Also by showing how much you made in one of these time frames to cover taxes, cash paid out to suppliers, and can also list employee payments. "The purpose of cash flow projections after all is not construct elaborate mathematical models or predict the future, but rather to identify potential weakness in a given credit situation and point the way to adopt measures to enhance. Correct or protect the bank’s exposure"( Fight, A. 2006 pg. 2). This is just a conversion from the income statement into cash to cover expenses or if you need to sell equipment to upgrade such has built in cooking pots, steamers and so forth. 29

My Restaurant will not start investments until after the third year of business, The first three years are crucial to set up a trend on how much profit is gained this allows to save up money and invest. Hence the second section of the cash flows covers any activities from investments to financial activities. These are the unexpected errors that cannot be determine unless actually running the business and should not be for cast. The main purpose of this section is to show the spending of money in future growth. 30

The third section shows inflow and out flow of cash purchases or sales that relates to the companies loans or stocks. My Restaurants cash flow shows outgoing loan that was used to start the business. Hence the main goal of cash flows shows inflow and outflow of cash during a time period, it is like balancing a check book. 30

The main uses of cash flow are for the company’s stock holders and it can tell that the company if it is healthy or unhealthy. "The rationale for the cash flow prediction regression as a test of earnings ‘relevance is straightforward, Investors and creditors are concerned about firms' future cash flows, and this concern is reflected in the Financial Accounting" (Lim, S. C., & Taewoo, P. 2012, Pg. 10). If the company is healthy it shows it can pay for dividends and reduce any debt. The cash flow can also be used to model the finances of the company. 30

It is important to have the income statement, balance sheet and cash flow sheet to balance out the company’s expenses along with inflows and outflows. These three documents can allow a business to see where they can downside without overall hurting the company. A statement like the cash flow is considered to be one of the main financial tools to a business. 30

Section 7: Management Summary 31

Management Summary 31

The management team will be well educated however with little experience, this way the management team can learn and grow through the challenges that are presented. Moreover, the philosophy will be customer originated and strategies reflecting from customer service challenges. In addition, the management team will have monthly reviews and the time to reflect on any problems and how things can be done differently, this will be the time to argue standings and express each other’s positions of concerns. 31

It takes time to build a management team that cn work well together, this all apart the learning experience of the job. Thus, when people get to know each other and know where the individuals stand in their requirements builds a well maintained team, like a well coaching staff of a football team where the coaches now each other and how they operate. 31

Management Team Positions 31

My Restaurants management team will consist of a Restaurant manager, assistance manager, and executive chefs, "In most Full-Service Restaurants and institutional food service facilities, the management team consists of a Restaurant Manager, one or more assistant managers, and an Executive Chef Managers or executive chefs," (Collegegrabber, 2013). Thus, the restaurant manager will be the overall in charge of staff that deals with customers, having no more than two assistant managers to help run things as smooth as possible. In addition, the executive chef will be in charge of ordering, cooking, pest control, stock and etc., for the kitchen and staff responsibilities. 32

Management team Concept, Group Dynamics, Strengths and Weaknesses. 32

The team concept will dwell around customer service and team work through dynamics of the team. Hence, the new well educated and very little experience, "Since group dynamics and team building are based fundamentally on the relationships among the people involved, it is both courteous and sensible to assure that the members all are introduced to each other," (Nazzaro, A., & Strazzabosco, J., 2009). Thus, requiring communication of the management team and allowing if needed weekly meeting to monthly meetings to allow options and resolves of problems between service and customers. 32

The strengths of this particular team have the potential to grow, and the potential to grow respect between the different managers allowing better flow of communication. However, the weakness will be difference of opinions on the job that may reduce customer relations and the quality of service. Hence, the weekly or monthly meetings to resolve problems of the management team and also ask the managers to wait until the meetings to express themselves openly and respectfully to each other. 32

Aristotle a great Greek philosopher stated, "Wishing to be friends is quick work, but friendship is a slow ripening fruit." Thus, building a team takes communication and organizational culture, Strong culture exists through stimuli of the managements team in which will take time like a ripening fruit. If a weak culture exists or growing slowly must have procedures placed to continue to grow the team. "When an organization has a strong culture, that is, members hold a set of shared values, and when the culture is consistent with organization goals, it is generally assumed that the organization will be better able to enact its strategy," (Caldwell, D., 2004). 33

"Excellence Is Not Defined Through Repetition" (Aristotle). Meaning just because something is done repeatedly does not make it excellent, but excellence is defined through being excellent in everything we do regardless if it is done repeatedly. Thus, we are not perfect which means no business is perfect and business needs to plan ahead for situations so strategies can be put in place. The same goes for morale no one is perfect nonetheless matter what happens if everyone does excellent then excellence will come out of any team. 33

References 34

Appendix 37

(After you copy and paste each section, return to the Table of Contents, right click on the table and select Update Fields. Once this is done, delete all instructions in the template and delete them).

Section 1: Executive Summary

The business proposal is based on a family restaurant called My Restaurant, the title is purposed to the customers to incite that it is friendly and the customer is always rite. Furthermore, the business will be based outside of Hanford CA, running along interstate 198. Moreover, the vision is to provide quality food and service at a reasonable cost to the customer at the same time maintaining a profitable operation.

The restaurant will provide excellence in customer service to families or friends through the staff of waitresses and chefs with smiles and greetings that make the customers comfortable as if they were at home with personal staff. In addition, the plan is to concentrate on making the restaurant a premier restaurant with an impressive market share with in a three year time frame. In addition, seeking customer responsive in services, development and building customer loyalty, furthermore the financial plan is to obtain a 600,000 thousand dollar loan to start the business covering all costs and be able to stay afloat for the next three months after opening setting a goal to pay the loan in three year time.

Section 2: Code of Conduct

All persons will be held to professional and personal behavior. Moreover, truthfulness to seek or give honest recommendations to better the companies integrity and service will be rewarded. In addition, all personal shale make decisions and act in the best interest of the company while overcoming day to day challenges maintaining business integrity. In addition all employees shale show respect to all co-workers and listen to each other to create a well maintained team by obtaining positive change and business improvement.

"Respect for coworkers and their respective roles in the workplace encourage a collegial work atmosphere. It also fosters collaboration, synergy and cooperation, which are essential ingredients for creating a workforce that values productivity" ("Why Is Respect Important in a Diverse Workplace, Chron.com" 2013). Hence, the importance to maintain morale, quality, excellence and the capability through self-recognition with hard work and dedication!

Excepted behavior

Place loyalty above all to co-workers.

Respect one and other at all times keeping personal feelings aside.

Give an honest effort while at work.

Report any suspicious activities to appropriate authorities.

Examples of unacceptable behavior

The use of nonpublic information that may benefit oneself interests.

Make or deal in unapproved promotions that hinder the business.

The use of the business’s resources to conduct other acquisitions while on the job.

Hold financial interests that conflict with the business.

Section 3: Operations

Teamwork is the key to any operation from small business to cooperate, principally where workers are, expecting to achieve independence without any supervision. Thus forming an effective team is crucial and must be the first priority.

Daily operations

The daily operations would consist of prepping for the next day in the kitchen, cleaning up and making sure the food in the freezer is still good by inspecting it. Also need to ensure where people sit to eat is clean thoroughly. Furthermore, the daily operations would very, due to business, one day might be busy, and the other day it might be slow. Hence, the daily operations and noticing trends can predict how much to prep also how many people need to be working that day. The restaurants daily operations from serving, cooking food, and keeping the place whistle clean.

Plan to service client base

In My restaurant will have waiters for customer service, sending them to school or higher the ones who have certificates in customer service. In addition, communication between the waiter and the cooks is the key to operating effectively to insure orders are right. Furthermore, the tables would be numbered so it would be easier to serve customers by remembering what table had what.

Customer service

The restaurant experience depends on the decor from music, to lighting. In addition, this is where personal booths would come in; it will allow personal dining to romantic dining where the music and lighting can be control. Furthermore, the staff in this area should have systems in place to maintain all of these elements. In addition, the staff will be responsible for taking care of most of the customers. Moreover, this will include seating arrangements, taking orders, and delivering of the food. In addition, they should follow up with the customers to ensure satisfaction.

Behind the scene

This is where the staff will be responsible for ordering and storing inventory, prepping, executing orders, and keeping the kitchen clean throughout the shift. In addition, inventory, "managers should maintain spreadsheets indicating what they have on hand as well as what they need to order" (Gartenstien, 2018). Furthermore, storage systems should "situate frequently used items in the most accessible places and allow sufficient space for rotation of stock" (Gartenstien, 2018). In addition, dissimilar kitchen staff should have responsibilities for the unalike tasks, such as cooking meat to soups or deserts. Furthermore, cooks should keep their areas clean and cleaning staff should clean after shift as well.

Communication

My restaurant will have structures in place to synchronize the work of its kitchen employees and its servers. In addition, waitpersons should convey customers’ orders to the kitchen correctly and sufficiently. In addition, chefs should attempt to complete all orders approximately the same time, and they should have systems for joint information to the servers that the orders are ready or any problems they have. Furthermore, servers should communicate with kitchen staff about customers' special needs such as food allergies. Moreover, when difficulties arise, the waitpersons and kitchen staff should work together to professionally solve any problems that may come up.

Outsourcing

There are few domestic legal or governmental obstacles to overcome, as outsourcing has become a common practice in today’s business. In addition should disputes arise the legal process will tangle the business holding up financials and in most cases profits. Therefore, the understanding of the jurisdiction and the implication of local laws is vital, there are evident benefits to allowing external firms to handle administrative matters in a business, but all aspects of this decision needs to be contemplated, prior to engaging in a partnership of this sort.

Thus forming an effective team is crucial and must be the first priority. Furthermore, it is important for a business in its daily operations from serving, cooking food, and keeping the place whistle clean. In addition, the waiters should follow up with the customers to ensure satisfaction. Furthermore, cooks should keep their areas tidy and the janitorial staff should do additional cleaning at the end of each shift. Moreover, the waitpersons and kitchen staff should work together to professionally solve any problems that may come up. In addition, My Restaurant can use outsourcing of a financial firm to keep accounting in line. In addition, it would be a waste of money to employ a web designer due to foreign firms offering greater server capacity and technical support at a significantly lower price than U.S. companies can.

Section 4: Marketing Plan

Marketing Strategy

The particular objective is to position My Restaurant as a premier restaurant in Hanford, imposing market share within five-year time. In addition, the marketing strategy will seek to create customer responsiveness regarding the services offered, develop of a customer base, and building customer loyalty or recommendations. Thus, the message that My Restaurant will seek to communicate the offers of fresh, creative, health sensible, and realistically priced.

The first way to establish marketing is with direct mail, the direct mail operation will be a way to communicate openly with the consumer. Furthermore, My Restaurant will also use banner ads and inserts in the Hanford Sentinel. Thus, it will be particularly effective since the Hanford Sentinel is a popular local paper that is checked when individuals are looking for things to do in Hanford.

This campaign will leverage personal relationships with people on staff of the Hanford Sentinel to get a couple of articles written about My Restaurant. Moreover, one way to do this will be from the business viewpoint, talking about the opening of the restaurant and the people behind the project. Thus, it is likely to be run in the business section of the paper. Furthermore, the second article will be a food review from a food critic. Thus, in hopes of speaking with many different retailers and restaurateurs, significant increases of traffic followed articles in the Hanford Sentinel. Since, this level of success and low cost, My Restaurant will work hard to get press in the Hanford Sentinel.

Marketing Mix

My Restaurant marketing mixture involves of these following tactics to distribution, pricing, promotion, advertising, and customer service.

• Pricing: My Restaurant pricing will be product cost is 30% of the total retail price.

• Distribution: My Restaurant food will be concentrated through a takeout model where the customers can call in their order and come to the restaurant to pick it up.

• Advertising and Promotion: The successful advertising will be conducted through inserts and banner ads in the Hanford Sentinel as well as informational articles and reviews within the Hanford Sentinel.

• Customer Service: My Restaurant viewpoint is that whatsoever needs to be done to make the customer happy must occur, even at the expense of earnings. Furthermore, this venture will pay off with a loyal customer base that is exceptionally vocal to their friends with recommendations.

Section 5: Information Technology

My Restaurant technology will consist of a complicated server set up where one computer will store information and the others will access the information. Cloud technology allows a business or personal information accessibility through the web. "End users, access cloud-based applications through a web browser, a light-weight desktop or mobile app. while the business software and user's data are stored on servers at a remote location" (Earthnet, 2012). Therefore, allowing access to software and records through

Productivity

Financials

Marketing

Communication

Customer service

Mobile Office

Productivity

In productivity, the software will enable time cards for the workers. For an example, "Time-Force helps collect, manage, track, and organize your employee time" (TimeForce, 2011). Furthermore, this is just one of the many firms that allow owners to establish when the workers are late or on time. Thus, keeping track of the employees time will allow bank rolls quality and ninety percent accident free.

Financials

On the financial side of the house, an accounting program will keep track of accounts in all areas, for an example "GnuCash that allows tracking of bank accounts, stocks, income, and expenses. As quick and intuitive to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports" (GnuCash, 2012). Furthermore, using a cloud system will open the door over the internet to share information with bank loans, or an accountant over the web.

Marketing

No business should go without some sort of marketing plan so software in this department will target the aspect of updating or just sharing ideas with the employees for advertisement. Thus, websites like Facebook or twitter would be crucial for marketing. Hence, the billions of people on the website looking for places to eat while on the road or just hungry customers. In addition, E-mail utilization will collect a client base for promotions and advertise the restaurant.

Communication

The communication technology can range from teleconferences to obtaining knowledge online. Furthermore, memos could be sent to all employees for any changes that would come up at the same time allowing employees training sessions on line to enhance the knowledge of employees. Thus, My Restaurant would have a small computer room so the employees would be able to log in into classes or training sessions. Hence, virus protection, and time limit integration into the computers.

Customer Service

Domino’s has where you can order food online just by simply going to their website at http://www.dominos.com/. Thus, the online order system generally is similar to the domino’s website. However, one thing would be added to the website allowing customers to reserve sitting areas for parties or gatherings. Hence, allowing businesses, sport groups, etc. allowing time slots to eat at My Restaurant.

Mobile Office

The mobile office technology through Microsoft windows for example allows the owner to access documents of the business computer. Thus, establishing a mobile office allows access to key documents when needed for expansion ideas, partnership expansion, or everyday journeys. In addition, allowing full access to the business computers for decisions on bankroll for the employees. Therefore, the use of cloud or other programs like it allows a business to flow wherever and whenever, at any time.

Compaq PC – this will be the main server for the other laptops and printer control. Thus, the main brain all other computers such as laptops or other PCs will draw their information from this one PC. Furthermore, the computers will come from Compaq and combine into a delicate main stream, using firewalls and an antivirus system from Norton or MacAfee. Additional protections may include encryption that the systems and user passwords can access.

Besides the clouds, database external hard drives will back up data on a daily bases and one standalone computer away from the internet will be used when systems fail or there is a security breach. Thus, the data can be used offline securely. Hence, enable all operations to resume and the most important thing the track of employee’s proper payroll. This machine will be located in a back office only allowing the management to access.

Section 6: Financial Plan

Start Up Statements

Rent or operating costs lists two sections expected costs and lead room costs in table 1 through table three. Furthermore, the expected cost is what is expect to pay and by leaving a lead way or a cushion to pay for the start of a business. In addition, the rent and operating costs show security deposit, rent and utilities with fix cost and onetime payments for instants, to rent a building a security deposit is placed and first month’s rent. Thus, the security deposit is a onetime payment and the rent is a fix cost paid every month.

The establishment that is rented may allow some reconstruction on the inside of the building. Moreover, the kitchen may be in the need to be remodeled along the dining areas has been taken in consideration. Furthermore, furniture will come from other sources through catalogs that will concentrate on providing comfort, also required is serving wear this also includes pots. pan, cups, knives, and everything else that would be required for operation. Thus, these costs are one time payments, however the profit that is made will create a replacement account to replace broken dishes or cook wear. In addition, the startup food will be a fix cost and variable depending on month to month sells.

The miscellaneous expenses are fixed costs with a decline in the amount of money is spent to uphold licenses/permits; accounting costs, ordering systems, and advertisement. The insurance should maintain or go down in time; however the cost diminishes but the fix still remains.

Income Statement

Table 4 has My Restaurants income statement is based on if it sold 8,000 thousand dishes at $8 dollars per plate, carrying over the remainder of the previous year income to the next, the income statement shows expenses and the amount of money that a company makes each month, quarterly, semi-annually and annually to insure the business has funds to operate and pay for any surprising expenses.

Income statements can be used in many areas for instance it is used to create cash flow statements, and to show expenses like: rent, employee paychecks, utilities, stock of items and so forth. Thus, a proper income statement is very vital to a business operations, and can be reviewed monthly, and yearly to find areas to improve on or to make cut backs.

Lastly income statements track all outgoing and incoming transactions with in the company. If a mistake was to be made on the income statement it could hurt the cash flow statement giving false information that can lead to jail time or even a denial of a loan hurting the business. Thus, Income statement must be accurate and defined so proper decisions can be made and for a proper cash flow statement to be made.

Cash Flow Importance

A statement like the cash flow is considered to be one of the main financial tools to a business. Furthermore, the cash flow statement can be broken in three different categories. Moreover, the categories list any investing or financial activities from stock of items to every day operations like materials. For instance, meat that is stocked to last for a week or everyday uses like olive oil, butter, etc… The other areas that the cash flow covers are the operating activities like net earnings.

My Restaurant is using depreciation on the equipment for the kitchen and computers that declines each year in table 5. The inventory of the foods can be sold so it can also be counted as money. The net earnings were carried over from the income statement based on the eight thousand dishes sold at eight dollars per plate. The notes, payable were the loan used to start up the business and paying it off in three to four years’ time frame.

Hence Cash Flows showing the first portion as sells made during the year, the cash flows can also be done as a monthly, quarterly, annually and semi. Also by showing how much you made in one of these time frames to cover taxes, cash paid out to suppliers, and can also list employee payments. "The purpose of cash flow projections after all is not construct elaborate mathematical models or predict the future, but rather to identify potential weakness in a given credit situation and point the way to adopt measures to enhance. Correct or protect the bank’s exposure"( Fight, A. 2006 pg. 2). This is just a conversion from the income statement into cash to cover expenses or if you need to sell equipment to upgrade such has built in cooking pots, steamers and so forth.

My Restaurant will not start investments until after the third year of business, The first three years are crucial to set up a trend on how much profit is gained this allows to save up money and invest. Hence the second section of the cash flows covers any activities from investments to financial activities. These are the unexpected errors that cannot be determine unless actually running the business and should not be for cast. The main purpose of this section is to show the spending of money in future growth.

The third section shows inflow and out flow of cash purchases or sales that relates to the companies loans or stocks. My Restaurants cash flow shows outgoing loan that was used to start the business. Hence the main goal of cash flows shows inflow and outflow of cash during a time period, it is like balancing a check book.

The main uses of cash flow are for the company’s stock holders and it can tell that the company if it is healthy or unhealthy. "The rationale for the cash flow prediction regression as a test of earnings ‘relevance is straightforward, Investors and creditors are concerned about firms' future cash flows, and this concern is reflected in the Financial Accounting" (Lim, S. C., & Taewoo, P. 2012, Pg. 10). If the company is healthy it shows it can pay for dividends and reduce any debt. The cash flow can also be used to model the finances of the company.

It is important to have the income statement, balance sheet and cash flow sheet to balance out the company’s expenses along with inflows and outflows. These three documents can allow a business to see where they can downside without overall hurting the company. A statement like the cash flow is considered to be one of the main financial tools to a business.

Section 7: Management Summary

Management Summary

The management team will be well educated however with little experience, this way the management team can learn and grow through the challenges that are presented. Moreover, the philosophy will be customer originated and strategies reflecting from customer service challenges. In addition, the management team will have monthly reviews and the time to reflect on any problems and how things can be done differently, this will be the time to argue standings and express each other’s positions of concerns.

It takes time to build a management team that cn work well together, this all apart the learning experience of the job. Thus, when people get to know each other and know where the individuals stand in their requirements builds a well maintained team, like a well coaching staff of a football team where the coaches now each other and how they operate.

Management Team Positions

My Restaurants management team will consist of a Restaurant manager, assistance manager, and executive chefs, "In most Full-Service Restaurants and institutional food service facilities, the management team consists of a Restaurant Manager, one or more assistant managers, and an Executive Chef Managers or executive chefs," (Collegegrabber, 2013). Thus, the restaurant manager will be the overall in charge of staff that deals with customers, having no more than two assistant managers to help run things as smooth as possible. In addition, the executive chef will be in charge of ordering, cooking, pest control, stock and etc., for the kitchen and staff responsibilities.

Management team Concept, Group Dynamics, Strengths and Weaknesses.

The team concept will dwell around customer service and team work through dynamics of the team. Hence, the new well educated and very little experience, "Since group dynamics and team building are based fundamentally on the relationships among the people involved, it is both courteous and sensible to assure that the members all are introduced to each other," (Nazzaro, A., & Strazzabosco, J., 2009). Thus, requiring communication of the management team and allowing if needed weekly meeting to monthly meetings to allow options and resolves of problems between service and customers.

The strengths of this particular team have the potential to grow, and the potential to grow respect between the different managers allowing better flow of communication. However, the weakness will be difference of opinions on the job that may reduce customer relations and the quality of service. Hence, the weekly or monthly meetings to resolve problems of the management team and also ask the managers to wait until the meetings to express themselves openly and respectfully to each other.

Aristotle a great Greek philosopher stated, "Wishing to be friends is quick work, but friendship is a slow ripening fruit." Thus, building a team takes communication and organizational culture, Strong culture exists through stimuli of the managements team in which will take time like a ripening fruit. If a weak culture exists or growing slowly must have procedures placed to continue to grow the team. "When an organization has a strong culture, that is, members hold a set of shared values, and when the culture is consistent with organization goals, it is generally assumed that the organization will be better able to enact its strategy," (Caldwell, D., 2004).

"Excellence Is Not Defined Through Repetition" (Aristotle). Meaning just because something is done repeatedly does not make it excellent, but excellence is defined through being excellent in everything we do regardless if it is done repeatedly. Thus, we are not perfect which means no business is perfect and business needs to plan ahead for situations so strategies can be put in place. The same goes for morale no one is perfect nonetheless matter what happens if everyone does excellent then excellence will come out of any team.

References

Ingram, D., & Demand Media (2012, December 3). How to Describe a Marketing Strategy.Small Business- Chron.com. Retrieved December 3, 2012, from http://smallbusiness.chron.com/describe-marketing-strategy-11678.html

Fight, A. (2006). Cash Flow Forecasting. Elsevier Butterworth-Heinemann.

Lim, S. C., & Taewoo, P. (2012). Cross-Firm Heterogeneity and Cash Flow Volatility i Explaining Earnings' Future Cash Flows Predictability. Journal Of Theoretical accounting Research, 7(2), 1-32.

Aristotle (384 BC – 322 BC) A. E. Wardman, J. L. Creed and Renford Bambrough (2011 )The Philosophy of Aristotle

Caldwell, D. (2004). Firm or Subgroup Culture: Where Does Fitting in Matter Most?. Journal Of Organizational Behavior, (8), 969. doi:10.2307/4093780)

Collegegrabber (2013, January 8). Restaurant Management. Collegegrabber.com | Advance your career with a college degree!. Retrieved January 8, 2013, from http://www.collegegrabber.com/restaurant-management.html

Nazzaro, A., & Strazzabosco, J. (2009). GROUP DYNAMICS AND TEAM BUILDING. Community List. Retrieved January 8, 2013, from http://el.trc.gov.om:4000/htmlroot/ENGG/tcolon/soft_skills/Consolidated/Team%20Building/E-Books/Group%20Dynamics%20and%20Team%20Building.pdf

Why Is Respect Important in a Diverse Workplace? | Chron.com. (n.d.). Small Business - Chron.com. Retrieved January 18, 2012, from http://smallbusiness.chron.com/respect-important-diverse-workplace-11475.html

Gartenstien, D. (n.d.). Standard Operating Procedures of Restaurants | eHow.com. eHow | How to Videos, Articles & More - Discover the expert in you. | eHow.com. Retrieved January 18, 2008, from http://www.ehow.com/list_6192032_standard-operating-procedures-restaurants.html