Assignment
Sea Food Restaurant is a seafood preparation and supply company based in Florence, Oregon, United States. The restaurant specializes in seafood dishes and seafood cuisine, such as shellfish and fish. Main course dishes include freshwater fish. The business is founded on the basis of preparing and serving fresh seafood, accompanied with drinks and other supplements. Additionally, the restaurant will provide retail sales of seafood that customers can prepare from the comfort of their homes. The company intends to take advantage of its close proximity to the lake to provide the most delicious sea foods to its highly esteemed customers across Oregon. Florence is a coastal city in the county of Lane. The location of the restaurant lies at the mouth of the Siuslaw River on the famously known Pacific Ocean, and it is also midway Coos and New point Bay, along the United States Route 101. The population of the region is approximately 9,466 people, according to the 2015 statistics, which means it is prime for business.
Workbook Description
Scope:
This is a workbook that encompasses some of the more pertinent information that would be helpful to you if you were to start-up a new small business.
Instructions:
Create a written report with the following information separated into sections for the small business you have selected to start-up. You may include additional information in any section as needed to document the start-up of this new business.
Section: Company Description
1. Name of business and business owner
2. Description of business
3. Description of start-up business opportunity
4. Your motivation for starting a new small business; Why do you want to start this new business?
5. Legal entity of business (e.g. corporation, sole proprietorship, etc.); Your reasons for selecting this form of business
6. Core competencies; What the business does best - skills and knowledge - to allow it to succeed in its business?
7. Business goals; What do you want to accomplish?
8. Business strategies; How will you accomplish these goals?
9. Business benefits from goals; Why do the business - value of the goals?
10. Mission statement for the business
11. Your vision for the future of the business
Section: Products/Services
12. Products and/or services of the business
13. Why would customers want to buy your products or services?; What is your competitive advantage?
14. What competing products/services exist in your marketplace?
Section: Target Market
15. What is your marketplace?
16. Target market (include some demographics of target market); Who are the primary customers for your business?
Section: Industry
17. Industry in which business will compete
18. Maturity of industry and how will your business succeed in the industry at the industry's level of maturity?
Section: Competition
19. Describe your major competitors
20. Describe your competitors' primary competitive advantages and compare theirs to your company's competitive advantage
Section: Management & Organization
21. Management team; their strengths and weaknesses that will affect the success of the company
22. Description of key employee positions that will have the greatest impact on the success of the company, include job names and job descriptions with responsibilities and skills required for the positions
23. Describe the hiring process for new employees; How will you know you have hired the right person for the right job in your company?
24. Organization chart for the company
Section: Operations
25. Describe the key operational processes that will have the most impact on the success of the company. The key job descriptions should be associated with these processes.
26. Describe how quality will be used to manage the operations of the company. Will TQM be used? If so, how?
Section: Financials
27. Provide your estimate of the start-up expenses, including the first year operational expenses of the business (Use the Income Statement format)
28. Identify the key financial performance criteria; What are the key financial success factors for your business?
29. Identify the sources of funding for the start-up expenses for your company, include first year operational expenses
30. Describe how the company's finances will be managed; Who will manage what finances?
Section: Technology
31. Describe any technology key to the successful start-up of your new business
Section: Government Regulations
32. Describe any government regulations that will impact the start-up of your company
Section: Consulting/Outsourcing
33. If you, the business owner, could have free small business start-up consulting services, what would you ask the consultant to do to help you with the start-up of your new business?