Strategy and Implementation
1. Location and Facilities
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The restaurant will be located in a holiday Inn on the South Service road East of Santa Clara County. The merit of location is that it is a metropolitan area with all types of culture. In addition, since the restaurant is intended to support Spanish and Filipinos the location will offer the best part of it. The infrastructure of the location as well as the hospitality of the locals offers an accommodative business environment. The location also offer the best market for the restaurant products since the town adjacent is a cultural town.
2. Cost of facilities
The restaurant has 200 seats and is premised in a 500 room Motel. The space was rented as $5000 per month with extra 10% of the generally utilities and 40% of the restaurant property taxes. The utilities expenses are projected to be 20000 dollars per financial year. A deposit and a set up fee of $300 will also be incurred on the first year of operation. The fee will be used to accommodate all services expenses and deposit chargers as well as usage charges for water, sewer, energy, garbage collection, and power. The utilities expenses are expected to increase by 4% if the projection spills over to the second year
The word of mouth seems to be an important factor when planning to start the restaurant business, but it cannot sell the restaurant when u just opening it. The challenge that the business will face is to develop strategies that will be used to promote the restaurant.
The business management will need to develop a budget that they will work with. Developing a realistic budget that will guide them is the biggest milestone.
Since the business is at the commencing phrase it will be hard to maintain the suppliers of the materials needed.
5. Equipment, Supply and Inventory management
An inventory of between $4000 and $12000 will be carried. The inventory returns are high due to the supply of fresh produce such as meat and farm produce. The restaurant will use suppliers of the already existing operations for future savings. The following are the expected supliers and their terms of payment:
i. Bridge – 6days/C.O.D
iii. Drama Pep’s – 30 days
6. Quality Control/ Sanitation
In order to maintain the quality of services at the restaurant, the management seeks to employ professional chefs and attendant from well known training institutions in town. External and internal auditors will also be recruited to maintain the checks and balances of the restaurant. Sanitation will be a first hand service offered by Clent Cleaning Company- the best cleaning company in the locality.
7. Management Strategies/ Risk Analysis
The business seeks to adopt a customer services for training and teaching all employees to ensure that the highest standards are met as well as maintained. In addition, day -to -day monitoring of accountability and operations of the employees will also be considered. This day to day monitoring will include slips for day to day sales. In order to secure the company against risks the business will develop risk assessments such as accounting internal control measures as well as risk evaluators.
The projected annual sale stands at $471, 456 in the first year and an increase of 3% in the coming year. The projected revenue that will be generated for each sale made is based on the industry operating/running statistics as well suppliers and consultations from professional.
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