Malone (1996) suggests where there is a city (Melbourne) and water, (Riverfront) there is capital and room for much in the way of growth and financials.
3.7 Promotional strategy
Shells will distinguish itself from competitors by providing consumers a fine dining experience without the costs normally associated with fine dining. Shells will provide customers an experience that fulfills their dreams and desires. Sections of the restaurant will cater to consumers interested in capturing certain themes or emotions during their fine dining experience.
4.1 Legal Structure
Shells Fine Dining is established as a partnership.
Shells will acquire appropriate licensing including licensing as a commercial dining establishment and liquor licensing as requirement by the City of Melbourne.
Shells will obtain all insurance as required by a fine dining established as per the City of Melbourne's legal requirements. This insurance will also cover natural disaster or loss of property due to unforeseen events or natural disasters.
4.4 Business Relationships
Shells Board of Directors will maintain relations with the City of Melbourne's commerce chamber and other restaurants in the area.
4.5 Fair trading
Shells operates under a premise of fair trade. All customers and business investors will be treated with the utmost respect and dignity.
Shells Fine Dining will pay all taxes on profits received from the sale of goods and services and tax all services or products in accordance with the legislation established by the City of Melbourne.
4.7 Industrial Relations
The CEO is responsible for maintaining industrial relationships with suppliers and vendors both local and global including in the food industry and in the equipment and service industry.
4.8 Occupational Health & Safety
The Human Resources Department is responsible for training employees and providing policies and procedures in accordance with occupational health and safety laws as established by the City of Melbourne.
4.9 Record Keeping
The accounting department will keep accurate and up-to-date record of all financials. The HR department is responsible for record-keeping involving all staff members hired. The CEO is responsible for maintaining up-to-date records of all operational expenses, profits and budgets allocated to each department at Shells Fine Dining, and reporting its progress to its investors including the City of Melbourne.
5. Human Resources Plan
5.1 Job Analysis
Human Resources director is hired to evaluate all jobs needed to fulfill Shells Fine Dining's obligations to customers.
5.2 Legislation and Industrial Relations
The Human Resources department is responsible for working with Executive Management and the CEO to develop policies and procedures in accordance to local customers and legislation.
5.3 Organization Chart
For more information on the Organization chart, see Appendix I.
5.4 Recruitment and Selection
The HR department will be responsible for developing a comprehensive set of policies and procedures governing recruitment and selection. All staff serving customers and cooking food are required to have at least 5 years fine-dining experience. Management teams will have a minimum of ten years experience in the industry.
5.5 Induction and Training
Training and induction will consist of a one-day orientation followed by a shadowing program whereby new employees learn how to do their job by following an experienced member of the team. The initial training will involve management training of all new hires in their positions.
5.6 Performance Management
To ensure the highest quality, performance reviews are offered all employees and staff annually to evaluate performance.
6. Operational Plan
6.1 Opening Hours
Shells Fine Dining Will offer dinner services during weekdays from 4:00p.m. To 10:00 P.M., Lunch is served from 11:00a.m. To 2:00 P.M. during weekdays. On weekends, the restaurant will open at 10:00 A.M. For brunch, served to 2:30 P.M. The dinner hours on Saturday are from 4:00 P.M. To 11:00 P.M. And Sunday from 4:00 P.M. To 9:00 P.M., Shells will not be open on Mondays
6.2 Pricing and Cost Control
To help control costs Shells will not open on Mondays. This typically is the day of the week where restaurants receive the least in revenues. Extended hours and brunch services are offered on the weekends....
The menu will rotate bi-annually to ensure customers are provided food that is in season to reduce the costs associated with delivery. A digitally-based cash and register system is utilized to track all sales receipts and tips paid to wait persons and other staff.
6.5 Control Systems policy of control is established by the Executive Manager for each department of Shells, including the wait team, the kitchen staff and financial managers. A budget will be set for each department outlying the expenditures and finances available to each manager for allocation to employees to cover the costs associated with operations monthly.
6.6 Food Hygiene
Shells Fine Dining will be subject to once monthly inspections at random to ensure the quality of food and proper food hygiene practices are being followed. All employees handling food will be trained twice annually on proper food hygiene techniques including washing of hands and understanding of how food-borne illnesses are avoided.
7. Financial Plan
7.1 Start- Up Costs
The start-up costs come to $300,000 mostly applied to buying equipment, furniture, obtaining liqueur and other licenses and operating cash needed for the first several months' business (Palo Alto, 2007). Based on industry standards, roughly $100,000 of this money will be allocated to equipment, food, liquor, lighting and outdoor and balcony supplies. Legal expenses will average $3,000. Another $100,000 is allocated to advertising, promotions, paint and interior decorating, cleaning, music, lighting, gas and phone deposits and software. Another 30,000 is allocated toward rent. The remaining monies will serve as a security or cash required for the preliminary 4-months operations for the establishment.
7.2 Sales Forecasts
Sales forecasts are projected at 1,000,000 at the 18-month mark. Shells Find Dining expects to net a profit of $60,000 by the end of year 3. At this time, the restaurant will have a reputation for providing the best possible service to customers along the Melbourne Waterfront district.
7.3 Break-Even Analysis
During January of the third year, Shells expects to break-even, with expenses and expenses canceling each other out.
7.4 Cash Flow Analysis
7.5 Balance sheet
Start-Up Expenses $270,000 Start-up Cash Required $30,000 First 6 months operations Total Assets $300,000 Cash Balance Starting $30,000 Liabilities Initial $0.00 Accounts Payable $0.00 Planned Investment $100,000 City of Melbourne Investor 1 $50,000 Business Partner Investor 2 $50,000 Founder Investor 3 $100,000 Owner/Angel Investor Loss at Start $(300,000)
8. Future Prospect
The Outlook for Shells Fine Dining is exceptional, with sales expected to continue to rise beyond the 2012 mark when the City of Melbourne completes its investments in the Tourism and Recreation industry within this area.
Shells plans to continue to become an innovator in local and native cuisine, offering the finest seafood, steaks and assorted products within the region. As the restaurant gains visibility and prospers, the owners will consider expanding to the menu to offer customers a more intimate dining experience. Customers will be provided opportunities to share their comments and insights, and suggest changes to the menu. Any changes adopted by the organization will award the subscriber a free meal.
8.3 Risk Analysis
The risk for investing in Shells Fine Dining is virtually zero, given the 150 million dollar investment the City of Melbourne is putting into sustainable businesses along the Waterfront in Melbourne. Shells Find Dining is the only restaurant of its kind planning to open during the next few years within the area. There will be other restaurants catering to the needs of tourists, however due to the affordability yet elegance of service provided by Shells, the management team expect the restaurant to run on autopilot within just five years business operations.
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Ley, D. (1996). The new middle class and the remaking of the central city. Cambridge:
Opportunities. The opportunities in Melbourne are virtually unlimited. The fact that the market is in a constant expansion, that the economy is doing very well and that we can expect a general increase in urban income is a sign that the restaurant can further develop its business in the market, potentially by opening new dining locations. Threats. The main threats come from the competitors on the market, from those restaurants who
These claims are virtually all based on the concept that corporations - particularly multinationals -- should be held accountable for their actions within their sphere of operations. "Corporations, for their part, have responded in numerous ways, from denying any duties in the area of human rights to accepting voluntary codes that could constrain their behavior" (Ratner, 2001, p. 436). In fact, this very point is echoed throughout the literature; for
Nature of the ProblemPurpose of the ProjectBackground and Significance of the Problem Brain Development Specific Activities to engage students Data-Driven Instruction Community Component of Education Research QuestionsDefinition of TermsMethodology and Procedures Discussion & ImplicationsConclusions & Application ntroduction The goal of present-day educational reformers is to produce students with "higher-order skills" who are able to think independently about the unfamiliar problems they will encounter in the information age, who have become "problem solvers" and have "learned how to learn,