Autobiographical Research Paper That Analyzes the Influences of Race as It Relates to Your Community
“The Huddle” The following information will hopefully put your minds at ease as investors and show you the possibility of money to be made with my company. I have years of experience in this field and would like to finally make not only myself money but you as well in my pursuit of running a chain of sports cafe’s. I believe this idea has great potential of immediate success and growth for the future. To start of the name of the sports cafe I wish to start is “The Huddle. ” This is a named after a football reference and feeds into the concept of my sports cafe theme.
This concept will have sports decor and flat screens every where the eye can see to keep everyone engaged into the games and events going on around them. This concept is geared towards those dad and mothers alike who wish to enjoy sporting events or just good food in a family environment suitable to bring you children to day or night.
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For those who do not drink or do not want our children around the types of things that go on in sports bars this is a family appeal and good time for the family. There will be great food served and a fun sports atmosphere to keep everyone happy, full, and more than family friendly.
Since there will be no alcohol served this cafe will only be open from 7am to 9pm on any given night unless a sporting event should exceed that time frame. For the purpose of this business there is a good amount of capital and overhead that is needed to cover expenses for start up. The large array of things such as stove, ovens, furniture, sporting memorabilia, construction etc is why I have chosen to begin this company as a partnership. I alone do not nor can I get a loan large enough to cover the expenses to start it up until the doors are open to the public to begin making money back.
So with all those factors in consideration I feel a limited partnership with you as the investor. This would mean that within this partnership I would be the general partner whom owns and operates all business decisions, activities, and assume all liabilities that come with. As a limited partnership you will be a silent partner who makes investments and investments alone. Although you have no decisions making authority in theory I will take you input at any time into consideration, not to mention you share a portion of the profits.
I feel that this partnership is the best fit for this venture in order to give the company the best chance to succeed and grow. This idea makes it a lot easier and smoother if one person has all business related decisions and as it is my dream I would like the vision to turn out the way it is meant to be. To start up this business I will also need to employ and accountant to make sure figures and estimates are prepared correctly to make sure we are using all available funds to their maximum. Although it will be the first cafe opened and we cannot be too sure on numbers we must have different budgets prepared to help guide us to success.
An accountant will be vital in preparing a sales budget, production budget, materials budget, labor budgets, overhead budgets, cash budgets, and a budgeted balance sheet. Since this is a new concept and first one to open we cannot be certain of the numbers but all these budgets put together and we can put a master budget into action. This master budget will lead to everything that we must do or not do to reach our goals for the first period in which we are open and leading up until then. We must have someone who knows the ins and outs of financial statements and making sure that everything is prepared as needed.
When looking for an accountant for this company I feel we first need to find one that does have a bachelor’s degree in the field with experience. Although this is a relatively small company starting out we may have to look for one fresh out of college with a great attitude and work ethic wanting a chance for something great. This candidate having experience would be a plus; however, a bachelors or masters degree in accounting with a great GPA could be enough to help in this particular situation.
Also what would be vital to the success of this company would have to be the internal controls that need to be taken care of within the business. For these internal controls there are different areas that must be addressed and done so on a daily basis. There are the financial reports and cash control which we will already have figured out with the accountant that is to be employed earlier on. In this field dealing with food we must have material resources controlled on a daily basis to make sure that the food is in enough supply but not over supplied resulting in the waste of food and loss of profit.
Also, the informational side of things which is the record keeping of what types of foods and what rate at which they sell on any given day. This all ties into different budgets that make the need for an accountant valuable but broken down into responsibilities to make sure everyone’s held accountable. Many of these tasks will be taken care of by me or the back of house manager (kitchen manager). Since I have experience in the restaurant industry with the customer service and management position I will be acting manager and owner.
With this title I will be responsible for my own success by keeping track of the records of what days are busiest and what sells more during a certain period. By keeping up with the financial records of the company as to how much of what sold on which day I will be able to relay to the back of house manger how much of a particular item I need. Not having chef experience I will rely on the back of house manager to run the cooks and keep track of materials needed in stock for orders to keep up with estimated sales budget.
I know you may have reservations making a large investment with myself not having much education in typical form to run a business, but that is not always needed. I have on the job experience and education with keeping budgets and internal controls running smoothly within the restaurants that I have been a part of for over 9 years now. So even though on paper I may not look like the ideal person to make a substantial commitment with I may have the most experience to make sure that your investment pays dividends.