BUSN278 Course Project
Project Overview
This is an individual project where you will be acting as a consultant to an entrepreneur who wants to start a new business. As the consultant, you’ll create a 5-year budget that supports the entrepreneur’s vision and strategy, as well as the needs for equipment, labor, and other start-up costs.
You can choose from one of three types of new business start-ups—a landscaping company, a restaurant, or an electronics store that sells portable computing devices. Each business has its own business profile detailed in the sections below. The purpose of the business profile is to guide you in understanding the scope of the business, the entrepreneur’s start-up costs, and financial assumptions.
The project requires you to create a written budget proposal, a supporting Excel workbook showing your calculations, and a PowerPoint presentation summarizing the key elements of the budget proposal, which you assume will be presented to a management team.
This is an individual project. Each week you will complete a section of the project in draft form. In Week 7, you will submit the final version of the project’s budget proposal, budget workbook, and budget presentation in PowerPoint.
Deliverables Schedule and Points
|
Week |
Deliverable |
Points |
|
1 |
Section 1.0 Executive Summary (Draft) |
10 |
|
2 |
Section 2.0 Sales Forecast (Draft) |
10 |
|
3 |
Section 3.0 Capital Expenditure Budget (Draft) |
10 |
|
4 |
Section 4.0 Investment Analysis (Draft) |
10 |
|
5 |
Section 5.1 Pro Forma Income Statement and 5.2 Balance Sheet (Draft) |
10 |
|
6 |
Section 5.3 Pro Forma Cash Budget (Draft) |
10 |
|
7 |
Final Budget Proposal |
90 |
|
7 |
Final Presentation with PowerPoint |
30 |
|
|
Total project points |
180 |
Business Profile:Papa Geo’s—Restaurant
Vision
The vision of the entrepreneur is to create a single-location, sit-down Italian restaurant called Papa Geo’s. The goal is to generate an income of $40,000 per year, starting sometime in the second year of operation, as wells as profit that is at least 2% of sales.
Strategy
a) Market Focus and Analysis
The restaurant targets middle- to lower middle-class families with children, as well as adults and seniors, located in Orlando, Florida. The area within 15 minutes of the store has 10,000 families, mostly from lower to middle-class neighborhoods. Average family size is four people per household. There is no direct competition; however, there are fast food restaurants like McDonald’s, Taco Bell, and Wendy’s in the geographical target market. The lower to middle-class population is growing at about 6% per year over the next 5 years in this area.
b) Product
The product is Italian food served buffet style, in an all-you-can-eat format, with a salad bar, pizza, several different types of pasta with three or four types of sauces, soup, desserts, and a self-serve soda bar. The restaurant is also to have a 500 square foot gaming area that has game machines that children would be interested in using.
c) Basis of Competition
Customers come to this restaurant because of the good Italian food at a low price—you can get a meal for $7, including drinks. Customers also eat at Papa Geo’s due to the cleanliness of the facility, the speed of getting seated and served, and the game machines that keep the children busy while adults enjoy their meal.
Start-Up Requirements*
Given Costs
The cost of registering a limited liability company in Florida—filing fees listed at the bottom of the application located at http://form.sunbiz.org/pdf/cr2e047.pdf
Renovation of the facility expected to cost $15,000
Business insurance, estimated at $1,000 per year
Health and other benefits at 20% of the salaries of the manager and assistant manager
Costs you should estimate through research, experience, or other methods
*If you have questions about start-up requirements, or think that other start-up costs necessary for the business are missing, then make an assumption and state it in the relevant section of the report.
Given Financial Assumptions*
*If you believe any other assumptions are necessary, please state them in your budget proposal.
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