Individual Short Business Report Memo
Your task is to write a 2-3 page memo report addressing the research questions and report headings your team assigned to you. Be sure to review the feedback you received in Module 5 on the "Researching Reports" Assignment.
The content areas you cover in your memo report should reflect your INDIVIDUAL contribution to the business report. Thus, while the overall business report will integrate research themes, your memo report will contain different information than that of your teammates. You may share the feedback you receive from the instructor with your teammates to improve the final analytical business report and presentation due at the end of the quarter.
Use standard business memo report format - a sample memo is provided in this module. You may also refer to Chapter 9 for additional information on memo reports.
Short Report Assignment Tips
A short report is usually written in the direct order style, especially if the audience is internal. Direct order style reports state the main point first, then follow with supporting information and end with next steps/conclusions/recommendations. Listed below is the suggested short memo report content:
Purpose Statement
Please include some version of a purpose statement at the beginning of the report. State why you are you giving this report using professional language.
Methodology Section
Include a brief methods section describing how your team approached the research process. The methodology section usually describes and rationalizes your choice of sources. It also includes information concerning how primary research was conducted.
Findings
Present your findings (data that answers the assigned research questions).
Graphic treatment (i.e. bullet lists, figures, tables) is recommended. The text describing the visual should include a reference to the visual (Figure 1, Table 1) within the body text and should be located near the visual.
Be sure to develop talking, parallel headings. Include in-body citations and a reference section at the end of the memo. Iron Horse Business Expansion Proposal
Project Team #3
Narrative
Project team number three has chosen to research the viability of the Iron Horse Pub expanding their business in two phases. Phase One focuses on the bolstering of their current pub into a fully operational restaurant. Phase two explores the potential of starting Iron Horse Restaurants in other cities based off the prototype here in Ellensburg, WA. Currently, Team Three is in the process of beginning research on Phase One of our business expansion proposal.
Problem Statement:
As a brewery we are failing to attract the "restaurant-goers" customer by only focusing on beer leaving revenue streams untapped.
Purpose Statement:
The purpose of this report is to explore the short and long run viability of expanding into the restaurant industry. This two fold expansion seeks to explore new revenue streams for the existing establishment that utilize a restaurant model and in the long run seek to launch additional restaurants in other geographical locations based off the local prototype.
Research Questions:
1. How many of our loyal & general customers would approve of our change? (PRIMARY)
Simmons, J., Alothman, A., & Brewer, C. (2016, May 12). Iron Horse Expansion Survey [Potential clientele survey]. CWU, Ellensburg, WA.
2. What are the startup costs associated with starting a full time restaurant? (SECONDARY)
Industry Survey: How Much Does it Cost to Open a Restaurant? (2010). Retrieved May 12, 2016, from https://www.restaurantowner.com/public/How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm
3. What does the restaurant market look like right now in our current economy? I.E: Should we wait longer before jumping in? Should we get it in sooner? (SECONDARY)
PARPAL, M. (2015, July 15). Scheduling Your Restaurant's Opening Day | FSW. Retrieved May 12, 2016, from https://www.foodservicewarehouse.com/blog/scheduling-restaurants-opening-day/
4. In what areas are we failing to capture available revenues? (PRIMARY)
Simmons, J., Alothman, A., & Brewer, C. (2016, May 12). Iron Horse Expansion Study [Research focused on the aspects of Iron Horse Brewery that are not capturing accessible streams of revenue]. CWU, Ellensburg, WA.
5. What can we alter/add to our business to attract more customers? (SECONDARY)
Fergison, L. (2015). 18 Affordable Marketing Tactics Restaurants Can Use to Bring in More Customers - Bplans Blog. Retrieved May 12, 2016, from https://articles.bplans.com/18-affordable-marketing-tactics-restaurants-can-use-to-bring-in-more-customers/
6. With alterations to our establishment, how much can we increase revenue? (PRIMARY)
Simmons, J., Alothman, A., & Brewer, C. (2016, May 12). Iron Horse Expansion Study [Sales Projection Data]. CWU, Ellensburg, WA.
7. Based off these augmentations, what are revenues projected for the next five years and will they allow for expansion? (PRIMARY)
Simmons, J., Alothman, A., & Brewer, C. (2016, May 12). Iron Horse Expansion Study [Revenue growth projection data]. CWU, Ellensburg, WA.
Iron Horse Restaurant Business Proposition Survey
1. Are you over 21
a. Yes
b. No
2. Have you been to the Iron Horse Pub?
a. Yes
b. No
3. On a scale of one to five, how would you rate your experience? "1" being very bad and will never return; "5" being very good and will definitely return.
1 2 3 4 5
4. How often do you go out for a beer?
a. Never
b. Once a month
c. Once a week
d. Two or more times a week
5. How often do you go out to eat?
a. Never
b. Once a month
c. Once a week
d. Two or more time a week
6. Would you eat at Iron Horse if you did not have to be 21 or older?
a. Yes
b. No
7. If Iron Horse Pub offered a wider food selection priced between $4 - $12, would you consider choosing this as a place to eat for lunch or dinner?
a. Yes
b. No
8. If you could order lunch or dinner, would choose this as a destination to eat even if you did not intend to order beer?
a. Yes
b. No