Final Financial Five Page

Final Financial Five Page - Erik Tarrash December 5th 2011...

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Erik Tarrash December 5 th 2011 Dr. Kelley GEB 3213 Launching a Fast Food Restaurant Financial Plan Yummy Brands is planning on opening a fast food restaurant in Gainesville. Our team thought of good questions to help us survey the University of Florida population. We knew this was a good idea because these are our future customers so we definitely need to know what they prefer and ultimately want in a fast food restaurant. The results of the survey all pointed to opening a breakfast fast food restaurant on campus or as close to campus as possible. We originally wanted to open our fast food restaurant on campus, in the HUB. However, due to legal issues with the University of Florida this is not realistic. Since we could not be on campus we knew that we needed to be as close to campus as possible in order to reach as many customers as we can. Our next best option was right across from the football stadium on University. This area is known as midtown. Although we can not be located on campus, we are going to have tables set up on campus, outside of Library West for students on the go that do not have enough time to come to us. We realize that students are busy between classes, studying for tests, or trying to catch buses so we are going to be in a convenient location for students. Rent After finding out that we could not open our fast food restaurant on campus we had to do our search for other locations. Our main concern was to be as close as possible to campus. Our next concern was which location was going to be the cheapest rent. Rent in Gainesville has a wide range, we found places anywhere from $1,000/month to $5,000/month for the square footage that we are looking for. The cheaper the rent is usually means that the location is poor and this is not what we are looking for. It is very apparent that the restaurants on or close to campus do relatively better than the restaurants further away. Rent in midtown is definitely on the higher side when compared to rent anywhere else in Gainesville. After speaking to current midtown restaurants we found out that the rent rages from $3,000-$5,000 depending on size and location in the plaza.
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Direct Costs Direct costs are those for activities or services that benefit specific projects, e.g., salaries for project staff and materials required for a particular project.
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Final Financial Five Page - Erik Tarrash December 5th 2011...

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