Team project_team 1 - Palate Restaurant and lounge Table of...

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Palate §Restaurant and lounge§
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Table of Contents Executive Summary………………………………………………………………………………….3 Codes of ethics…………………………………………………………………………………………4 Going Global…………………………………………………………………………………………….7 The Business Organization………………………………………………………………………10 Target Market…………………………………………………………………………………………11 The Accounting Behind the Business……………………………………………………….12 Money and Banking………………………………………………………………………………..15 Appendix………………………………………………………………………………………………..17 2
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Executive Summary In this report, we have presented a start-up business plan for a restaurant. Our restaurant is named as “Palate – Restaurant and Lounge”. The specialty of this restaurant is the serving of ethnic food in a family environment. We have established a set code of ethics which includes our commitment to social responsibilities also. Our future plan of expanding our business globally estimates all the aspects, such as, which country we expect to explore and what challenges we might face. We have an organogram for our organization which is presented in this report. It shows the hierarchy of the positions with every job title. We may not recruit all the positions with the very starting of the business, but have our structure ready for any future reference. And we also performed some market analysis to target our customer groups based on our location, service and pricing. Our targeted customers comprises almost all ages as we target families, working personnel, business personnel, couples, group, student, tourists etc. We also have done some accounting analysis to understand the industry performance by analyzing the financial data of a competitor company from food industry. We did some ratio analysis to measure the benchmark solvency ratio, profitability ratio and activity ratio. These data will help us to forecast our target results and understand the efficiency of our company as we start operating. Finally we looked at the financing options for our company. We have set a plan how to obtain fund for our business by balancing total debt and total equity, and concluded with a good leverage ratio of 2 : 3. 3
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Codes of ethics Food Sanitation/ safety: One of the most important issues for Palate is serving untainted food. Our restaurants should only sell food made in kitchens that adhere to a high standard of sanitation. Where matters of food sanitation are concerned, the customers’ best interest should be the deciding factor. We are firmly committed to food safety and put this issue above financial concerns. This includes going beyond the letter of the law to enforce the highest product quality
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