Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What are your total startup costs for the restaurant? How do they break down from one time and monthly expenses? Explain your startup costs. Discuss

image text in transcribed

image text in transcribed

  1. What are your total startup costs for the restaurant? How do they break down from one time and monthly expenses?
  2. Explain your startup costs. Discuss your assumptions, where you got the numbers from, what are the largest items? Etc. NOTE: Your numbers must be realistic and make sense.
  3. Based on your startup costs, How will you raise the needed funds? What do you think will be the major challenges in trying to fund it?
  4. If you were one of the individuals you approach for funding, what do you think their main question will be? How would you answer it?
XB) Estimated Item 3 Months Cash Required To Monthly Start Business (A reserve Expenses Salary of Owner-Manager $3,700 3 $11,100 All Other Salaries and Wages $23,200 3 $69,600 Rent $5,000 3 $15,000 Advertising $1,000 3 $3,000 Delivery Expense/Transportation $0 3 $0 Supplies $0 3 $0 Telephone, Fax, Internet Service $200 3 $600 Other Utilities $300 3 $900 Insurance $100 3 $300 Taxes Including Employment Insurance $3,766 3 $11,298 Interest $0 3 $0 Maintenance $300 3 $900 Legal and Other Professional Fees $1,500 3 $4,500 Restaurant Technology $414 3 $1,242 Food costs $3,500 3 $10,500 Total Cash Required for Monthly Expenses: (C) $118,440 One Time Capital Costs Cash Required to Start Business Capital Costs Fixtures and Equipment Decorating and Remodelling Installation of Cintur Fouinmont $130,000 $420,000 20 anni Maintenance $300 Legal and Other Professional Fees $1,500 3 Restaurant Technology $414 3 Food costs $3,500 3 Total Cash Required for Monthly Expenses: (C) $900 $4,500 $1,242 $10,500 $118,440 One Time Capital Costs Cash Required to Start Business Capital Costs Fixtures and Equipment $130,000 Decorating and Remodelling $420,000 Installation of Fixtures and Equipment $30,000 Starting Inventory $3,000 Soft Costs Deposits with Public Utilities $1,666 Legal and Other Professional Fees $1,000 Licenses and Permits $500 Advertising and Promotion for Opening $2,000 Accounts Receivable $0 Cash $0 Miscellaneous $0 Total One-Time Cash Requirements: (D) $588,166 Total Estimated Cash Required to Start Business: (C) + (D) $706,606 XB) Estimated Item 3 Months Cash Required To Monthly Start Business (A reserve Expenses Salary of Owner-Manager $3,700 3 $11,100 All Other Salaries and Wages $23,200 3 $69,600 Rent $5,000 3 $15,000 Advertising $1,000 3 $3,000 Delivery Expense/Transportation $0 3 $0 Supplies $0 3 $0 Telephone, Fax, Internet Service $200 3 $600 Other Utilities $300 3 $900 Insurance $100 3 $300 Taxes Including Employment Insurance $3,766 3 $11,298 Interest $0 3 $0 Maintenance $300 3 $900 Legal and Other Professional Fees $1,500 3 $4,500 Restaurant Technology $414 3 $1,242 Food costs $3,500 3 $10,500 Total Cash Required for Monthly Expenses: (C) $118,440 One Time Capital Costs Cash Required to Start Business Capital Costs Fixtures and Equipment Decorating and Remodelling Installation of Cintur Fouinmont $130,000 $420,000 20 anni Maintenance $300 Legal and Other Professional Fees $1,500 3 Restaurant Technology $414 3 Food costs $3,500 3 Total Cash Required for Monthly Expenses: (C) $900 $4,500 $1,242 $10,500 $118,440 One Time Capital Costs Cash Required to Start Business Capital Costs Fixtures and Equipment $130,000 Decorating and Remodelling $420,000 Installation of Fixtures and Equipment $30,000 Starting Inventory $3,000 Soft Costs Deposits with Public Utilities $1,666 Legal and Other Professional Fees $1,000 Licenses and Permits $500 Advertising and Promotion for Opening $2,000 Accounts Receivable $0 Cash $0 Miscellaneous $0 Total One-Time Cash Requirements: (D) $588,166 Total Estimated Cash Required to Start Business: (C) + (D) $706,606

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Factory Accounts

Authors: John Whitmore

1st Edition

0367494825, 9780367494827

More Books

Students also viewed these Accounting questions