Objective of the Group project: To apply textbook knowledge to real world application. Requirements of the Group Project Mission and Product-line 1) Briefly describe what is the mission of your new business? Please briefly suggest a strategic positioning goal you strive to compete with your competitors. Since Accounting 6215 is not a management class, your description should be brief but concisely describing what is your product or service? 2) Due to time constraints of this class, please keep your product line simple. For example, restaurant selling noodles with drinks, or retailing Persian carpet, or fixing properties for resale. One of the requirements of this group project is to estimate preciously the cost of your products: noodles, items for retail, services etc. Incorporation 1) Cost of incorporation: S Corporation, C Corporation? 2) Business Registration Fees? Including health inspection, health permit to operate for example 3) Fire Marshal approval for restaurant? (Extra rental cost) Rental Costs 1) Rental costs of your restaurant, retail shop, office space (www.loopnet.com). For restaurant and retail, please budget one month for decorating and fire marshal approval. First year operation budget includes thirteen months of rent. Both restaurant and retail shop need to have ADA approved restroom (toilet) if possible. 2) Insurance for fire, theft and 3rd party damages (customers fell due to water on ground). 3) Alarm, security, video camera (overhead). Motor Vehicle 1) Service and property group need to have a van for passengers or equipments. Equipment 1) Restaurant: How many square feet? How many tables/chairs? How many cooking equipment? How many dishes and cubs? Need air conditioning? Need television? www.katom.com 2) Retail shop: How many square feet? How many showcases? www.americanretailsupply.com 3) Property group: What equipment to rent or purchase? (For example paint, brush, carpet cleaning machine, fan?) 1