OWNING YOUR OWN RESTAURANT
1. You have $500 000 to buy and furnish your restaurant. Search through Real Estate sections of papers and online to find a suitable house/building/shop for sale. Work out how much money you have left to buy furniture and accessories eg. tablecloths, cutlery etc. Remember you will also need to stock your kitchen with food. List what you buy and the cost. Total up all you have spent to set up your restaurant. How much change do you have from $500 000? Construct a model of your restaurant. 2. Design a Business Card for your new restaurant. You have 5000 printed. Take the price off the money you have left. How can you find out how much this would cost? 3. Make a menu. As this is going to be an ongoing cost you decide to print these yourself. To do this you need to buy a computer and printer. Deduct the cost from your balance. 4. The floor of the restaurant is tiled. Decide on a pattern and draw what it looks like. Make sure it is done carefully and accurately. 5. Place an advertisement in the newspaper for a chef, waiter or waitress. Find out how much this costs and deduct from your balance. 6. Write out dockets for your customers. After totalling up the amount owed work out their change from the money they give you. 8. Your restaurant is going well so you decide to do home deliveries. You need to buy a car. Look through advertisements to find a suitable vehicle. If you borrowed the money to pay for the vehicle how much would it cost you each month if you repaid the loan over thirty six months? Take six months repayments off your balance. 9. Fill out a time sheet for your employees (at least 3) over one week. Sometimes they work overtime. Fill out the time sheet and calculate how much you owe them. The normal hours per day = 7. For the first two hours they are paid 1 ½ times the normal rate. After two hours they are paid double the rate. Total up how much it cost you in wages for your employees over the week period. 7. Work out your expenses for one week. Take into account things such as food, drink, wages, electricity, flowers, dry cleaning, entertainment, telephone, advertising etc. How much do you need to make in one week to cover all your costs and make at least a 10% profit? Add six months of income to your balance. 8. After six months what is your total balance? Have you managed to budget well during that time? 9. Anything else? eg creating an ideal/computerised robot waiter, waitress or chef. Jane Leaker