Bean's cafe is a family-owned private business operating a busy coffee shop in the city center. They employ fifteen workers (part time, casuals and permanent) on the shop floor and five administrative members in the back office. They also import and distributes its coffee beans to other coffee shops across Australia. Hours of operation of the caf is from 6:30 a.m. - 2:30 p.m., 6 days a week, and 8:00 a.m. - 3:00 p.m. on Sundays.

Bean's caf is popular among the residents and office worker nearby. This is due to the certified fair-trade coffee served. Bean's caf serves a basic American-style breakfast and lunch. While the coffee shop returned a total turnover of $1.85 million in the last financial year, the wholesale of coffee beans generated revenue of $0.8 million.

In this current financial year, the company is looking to expand both its retail and wholesale businesses with plans for two more coffee shops and expansion of coffee beans distribution to other parts of the country. The company has several shareholders from within the family and managed by Mrs Bean's and her husband.

In development the Asset Management plan, use the following as a guide to the plan's contents;

• Expand the current facility to increase seating capacity to 40 (current capacity: 18)
• Construction and allocation of a "take away" area within the caf to avoid disruption during service
• Increase output/production capacity (currently serving 18 customers - approx. 6 minutes per order with wait time) in anticipation of an increase in take away and service orders

Plan an asset management which include details below:

• Business Description and Services Overview
• Asset Description - which type of asset and Value (current and future)
• Current Asset Utilisation - Benefits to the Business and Expected Life and Replacement
• New Asset Acquisition - at least three (3) different asset types, talk about Needs Analysis/Justification, Equipment/asset Specifications, Acquisition Cost Estimates, Benefits to the Business, Finance Needs
• Recommended Financial Strategies
• Asset Management (Listing of new and old assets and details), including Asset Performance KPIs/Measures (SMART rule), Maintenance and Repair Schedule (table) , Daily Condition Reports (template and details to be recorded with sample data), Asset Audit Schedule (Returns) - Audit specification and schedule table and Environmental Sustainability
• Asset Performance Reporting Requirements and Schedule
• External Consultation/Expert Advice Needs

Based on the nature of the business, you need to use some assumptions;

• Current equipment and assets (assume the coffee equipment is 4 years old and the caf furniture and counters were replaced 2 years ago)
• The caf sells hot and cold beverages, pastries and cakes
• Average price of a beverage is $5.50
• Average return per customer is $6.25

Accordingly, make recommendations for new equipment, furniture and other assets based on the above information and business objectives. Confirm the cost and budget parameters