BUSN 278 Week 4 Course Project 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, youâ€™ll create a 5 year budget that supports the entrepreneurâ€™s vision and strategy, as well as the needs for equipment, labor, and other startup costs. You can choose from one of three types of new business startups — 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 entrepreneurâ€™s startup 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 projectâ€™s Budget Proposal, Budget Workbook, and Budget Presentation in PowerPoint. Deliverables Schedule / 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 (Draft) 10 6 Section 5.2 Pro Forma Cash Flow Statements (Draft) 10 7 Final Budget Proposal 90 7 Final Presentation w/ PowerPoint 30 Total project points 180 Business Profile:Papa Geoâ€™s â€“ Restaurant Vision The vision of the entrepreneur is to create a single-location, sit-down Italian restaurant called Papa Geoâ€™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/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 4 people per household. There is no direct competition; however, there are fast food restaurants like McDonaldâ€™s, Taco Bell and Wendyâ€™s in the geographical target market. The lower to middle class population is growing at about 6% per year over the next five 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 which 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 â€“ you can get a meal for $7, including drinks. Customers also eat at Papa Geoâ€™s due to the cleanliness of the facility, the speed of getting their seat and food, and the vending machines which keep the children busy while adults enjoy their meal. Startup Requirements* Given Costs â€¢ The cost of registering a limited liability company in Florida â€“ filing fees listed at the bottom of the application for located at: http://form.sunbiz.org/pdf/cr2e047.pdf â€¢ Renovation of the facility expected to cost $15,000 â€¢ Business insurance, estimated at $1,000 per year â€¢ Health and other benefits are 20% of the salaries of the manager and assistant manager Costs you should estimate through research, experience or other methods Soda fountain bar 2 pizza ovens Salad and pizza/dessert bar Approximately 100 square foot commercial refrigerato
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