Questions and Answers of Restaurant From Concept To Operation

How will you advertise your restaurant? What percentage of total sales will be allocated to advertising?AppendixLO1
Discuss which restaurant promotions are the most effective.AppendixLO1
How will you determine your restaurant ’s pricing policy?AppendixLO1
How will contribution pricing affect your restaurant ’s pricing policy?AppendixLO1
Discuss how the four P s of marketing are utilized in your restaurant.AppendixLO1
Prepare an income statement and a fi nancial budget.AppendixLO1
Identify requirements for obtaining a loan in order to start a restaurant.AppendixLO1
Discuss the strengths and weaknesses of the various types of loans available to restaurant operators.AppendixLO1
List questions and the types of changes a lessee should consider before signing a lease.AppendixLO1
Discuss the strengths and weaknesses of the various types of loans available to restaurant operators.AppendixLO1
Describe the various forms of business ownership.AppendixLO1
Recognize the legal aspects of doing business.AppendixLO1
Discuss the various types of government regulations.AppendixLO1
In drawing up a sales budget for a casual Italian restaurant, what percentage of weekly sales should be forecasted for Friday and Saturday evenings?AppendixLO1
A casual restaurant with $1 million sales volume should have how many fulltime equivalent employees?AppendixLO1
What labor, food, beverage, and occupancy costs should the above restaurant have? Express your answer as both a percentage of sales and as a dollar fi gure.AppendixLO1
Aside from its value in planning, why is it essential to do a budget forecast of sales, costs, and profi t?AppendixLO1
Suppose that after forecasting sales and deducting expenses, you are left with 3 percent operating profi t before interest charges and taxes. What would you do?AppendixLO1
List, in order of priority, four sources of fi nancing you would approach in seeking funds for your restaurant.AppendixLO1
In seeking a construction loan, would you expect to have the entire amount of the loan given to you in a lump sum? Explain.AppendixLO1
The procedure in seeking a loan from the Small Business Administration is fairly elaborate. What is the usual sequence for this process?AppendixLO1
The recommendation is made to “stockpile your credit.” What does this mean?AppendixLO1
Is it possible (not probable) to start a restaurant without any cash of your own?Explain.AppendixLO1

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