View the step-by-step solution to:

Question

You are the Founding Team for a new restaurant, The Dragon Restaurant Company. You are in the planning stages to

prepare to launch this new business, and must determine the startup costs that will be needed to be ready to open your doors on January 1st.

Your concept for this restaurant is to have a family-style, sit-down restaurant located in the Columbia area of Howard County, Maryland. You have calculated that you need a space of about 1,600 sq. ft. that can handle a maximum of 40 diners at one time.

You have limited financial resources and you need to keep startup costs to a minimum, but you do not want them so low that it jeopardizes the success of your venture.


  1. CONTROL ASSETS WITHOUT OWNING = Control as many assets as possible through strategies other than ownership.
  2. CONSERVE CASH = Devise strategies that require as little cash expenditures as possible; move expenses from startup costs to operating expenses.
  3. CUSTOMER EXPERIENCE = Make decisions that will not reduce the value to be provided to customers.


Such techniques should be used to lower costs as:

Top Answer

The Dragon Restaurants company will make proper analysis before starting its restaurant business. The... View the full answer

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question