Business Detective
Pretend that you were a detective hired by the Canada Revenue Agency to investigate local business revenues.
- Visit a local restaurant, a convenient store, or a gas station during an average weekday business hour (as a customer yourself). Observe the stream of customers and their approximate expenditure in the business hour (for example, by counting the filled seats in the restaurant and the cost of an average meal in the menu) as well as number of staff hired by the business and the daily business hours.
- Use what you observed to estimate: a) daily and monthly revenue of this business (You may make reasonable assumptions of peak and off-peak hours/seasons); b) daily and monthly labor cost (on reasonable assumptions of hourly wages); c) monthly capital cost (assuming zero economic profit: TR - wL - rK = 0)
- Present your results in a worksheet (using textboxes, photos, etc. if necessary).