1. Restaurant Business IvanaDeLuca Per. 9

2. Overview of Presentation Restaurant Business Class Activity

3. Thesis Opening a successful business takes time, commitment, and planning, while allowing the owner to express his or her skills and talent.

4. Planning Decide what type of restaurant Talk to people with experience

5. Business Plan Scope of Business Mission Statement “Why do you want to start a business?” “What do you have to give?” (Sullivan 71)

6. Risks Strategies Goals & Objectives “Goals should be realistic and doable within a one to three year timeframe.” (Sullivan 71)

8. Skills In Management Problem solving, decision making, planning, communication, multi-tasking

9. “Formal management courses are a fast way up the learning curve if you’ve had little management experience.” (Rainsford18) Management Courses

10. M O T I V A T I O N “Managers can motivate their staff by praise and incentives, to create a friendly working environment, and having diligent employees, that are less likely to resign.” (Rainsford 19)

11. Managing People (not done)

12. Food Distributor Determine the sources you will use Payment Terms

13. Deliveries come quit often “What days of the week will you deliver to me?” (Casey 114)

14. Hiring Process Job Description “Job descriptions help you determine wage ranges and help to communicate with your employees.” (Casey 116)

15. “Don’t depend on help appearing off the street.” (Casey 116) Interviews

16. Be Selective “You don’t have to hire anyone you don’t feel is willing and able to do the job.” (Casey 116)

17. Marketing Services and Products How are you going to advertise? Values and Aspirations

18. Who will you be selling to? “Always place the customer at the center of your strategies.” (Rainsford 26)

19. Marketing Components What are the menu items? What price range are you going to offer? How will they pay?

20. What makes you different? “What can you offer your markets that they are ready and eager to buy?” (Casey 28)

21. Train employees to be courteous “The role of common courtesy is often overlooked.” (Rainsford 128)

22. Initiative “You should be able to apologize and correct a mistake.” (Rainsford 128)

23. “The customer makes or breaks your business.” (Rainsford 129) (Sullivan 121) Coddle the customer

24. Competition Chains “What these restaurants don’t offer is the personalized attention that small businesses provide.” (Lynn 9)

25. Competition Supermarkets Convenience Stores

26. Profit Objectives Price “The menu prices you set should reflect not only the cost of food but also an intangible image factor.” (Casey 69)

27. Objectives Objectives “Pricing is inherently strategic, so be clear on your objectives.” (Casey 69)

28. Price Range “ Make sure that you charge enough to cover your costs.” (Casey 69)

29. Location Population Base “Are there enough people in the area to support your business?” (Casey 35)

30. Visual Appeal “If guests will be arriving by car, then access and adequate parking are necessary.” (Casey 35)

31. “As a rule, it is safer to spend more money on location and less on advertising than vice versa.” (Rainsford 48) Space Cost and Advertising

32. Health Department “ Proper food handling techniques and sanitation are critical.” ( Lynn pg. 49) (Rainsford)

34. Accounting“Record keeping has made proper personal records almost as important as keeping proper tax and accounting records.” (Rainsford 54)

35. Legal Form “The tax code is tens of thousands of pages long, and the penalties are so high.” (Rainsford 52)

36. Budgeting Time Time for family/yourself “The temptation to spend all your time at work is tempting.” (Casey 138)

37. Time to know customers “Listen twice as much as you talk, and you’ll become wise.” (Casey 138)

38. Deciding the type of Restaurant Full service with waiters and waitresses “What type of guests will it cater to?” (Casey 45) (Margretta)

39. Families and casual dining/fine dinning

40. Trends make your decision on what you like to cook or what you like to eat. You may be the only person in that market segment.” (Casey 45)

41. Naming Your Restaurant Tips Straight forward and descriptive “The name you pick should tell your markets what your restaurant is about, not baffle them.” (Casey 47) (Sullivan)

42. Distinctive Naming “You still want to stand out from the the crowd.” (Casey 45)

43. Myths “I can bootstrap it” “Too little money invested in the business is the biggest cause of small business failure.” (Rainsford) (Sullivan)

44. Myths “I’ll get rich overnight”

45. “I have nothing to lose” “It isn’t that easy to find other people’s money and it never makes sense to take on debt if you can avoid it.” (Rainsford 2) “It takes money to make money”

46. Reducing Risks Plan ahead “A written business plan is inexpensive insurance.” (Rainsford 4) Get experience in management “Combine experience with course work and you will have an almost unbeatable start.” (Rainsford 4)

47. Reducing Risks Have family’s support Be prepared to be tired Follow your strengths

48. Licenses and Permits Health Department “The type of food your restaurant specializes in isn’t an issue; what is important is how you store and prepare that food.” (Lynn 194)

49. Licenses and Permits Fire Department Your best strategy is to avoid situations that could result in any potential liability.” (Lynn 195)

50. Types of Business Ownership Sole Proprietorship Business owned by one person or family

51. Partnership Business jointly owned by two or more persons

52. Corporation Business recognized as an individual operating as a separate entity

53. Franchise An independently owned business controlled by a corporation

54. Sanitation Standards for employees “Too many incidences of food contamination that lead to illness can be traced to workers failing to wash their hands.” (Lynn 200)

55. Sanitation Food Storage “A single case of food poisoning can put a restaurant out of business.” (Lynn 200)

56. Setting Hours of Operation Depending on what type of restaurant you open, depends on the hours Quick Service Restaurants (10:30 & close between 9-11) National fast-food franchises (6a.m. or 24 hrs.) Casual Dining (lunch & dinner) (10:30a.m.-9 or 11p.m.) “These establishments open around 10:30a.m. and stay open late, especially on weekends to appeal the post-dinner crowd.” (Lynn 14)

57. Industry Trends Co-branded operations “When two or more well-known restaurants combine their menus in one location to offer customers a wider selection.” (Lynn 5) Nutrition-conscious customers Popular menu items “Customers are looking for menu items that are compatible with weight-loss trends.” (Lynn 5) A focus on children