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Awareness in the product you are selling or the service you intend to provide is a key aspect when it comes to success within the industry. A sushi recipe is always the same, there is no much change on how the sushi is prepared however in my attempt to beat competition I would infuse some new innovations in my sushi, and this would include jalapenos, sushi croissants as well as any other proven recipe. Introduction of this new recipes would help me a lot in dealing with competition, this is because this would improve my customer base, hence improving the profit made and invest the profit back into the business for a more efficient service, and therefore, retaining the customers I have already gained (Leisner, et al 2014).

Getting the right supplier is also key in a restaurant business. A supplier who would deliver quality raw materials needed in the making of the sushi in a timely and cost-effective way. When the supplier is right the cost of production will always go down this would in return lower the selling price for my sushi hence more customers because of a cheaper price.

Delivery of quality service is the best way to achieving dominance in the restaurant business, this is mainly achieved through referrals by satisfied customers. Having great customer service will involve doing it right from the first time, avoidance of minimal errors and also incorporation of technology.

Restaurant Order Processing & Management on the Cloud (Doctoral dissertation)

What consumers expect from food control and what they get–A case study of the microbial quality of sushi bars in Denmark. 

Examination of restaurant quality, relationship benefits, and customer reciprocity from the perspective of relationship marketing investments. 

A Comparative Study on the Impact of Business Model Design & Lean Startup Approach versus Traditional Business Plan on Mobile Startups Performance.

Revisiting the influence of institutional forces on the written business plan: a replication study. Management Review Quarterly,

Identifying and spurring high-growth entrepreneurship: Experimental evidence from a business plan competition. 

Revising the predictive capability of business plan quality for new firm survival using qualitative comparative analysis. 

Key Milestones for a Sushi Restaurant Business

Milestone for the sushi business is relevantly essential, as it helps in understanding the pathway in which the business can direct and flourish. In addition, the milestones indicate relevant dates and projection of identified achievement, which needs to be conducted for luring in investors and gathering the required funds for the business. Furthermore, the milestones relevantly indicate the future performance, which needs to be taken into consideration while portraying or depicting the list of key milestones. In this context, Burns & Dewhurst (2016) mentioned that with the help of milestones the pathway to the project can be detected, which might help in guiding the organisation’s progress. On the other hand, Chambers & Humble (2017) criticises that without conducting adequate research the overall milestones of the business cannot be achieved, which might relevantly demotivate the investor and can negative affect the invested capital.

Date

Key Mile Stones

December 2018

Automated scheduling process of the staff will be completed by December, as it might help in reducing the detecting process of scheduling.

January 2018

Buying the relevant supplies for the kitchen, completion of menu and developing the production plans.

February 2018

Successfully printing 1,200 sushi in the 3D printer by the end of the month and creating distribution filers, which can be dispersed.

March 2018

Achieving the milestone of 6,000 sushi prints at the end of the month, while building a website for increase the online presence.

April 2018

Operating in full capacity while servicing the visiting and online customers, which helps in generating high revenues.

The above identified milestone directly portrays different level of activities, which needs to be fulfilled by the organisation for supporting its long erm goals and vision. In addition, the identified milestone in the above table indicates the process and the different level of measures that would strengthen the resolve of the business for surviving in the competitive market. McKenzie (2017) mentioned that with the help of defined milestones the business relevantly portrays the ways in which the operations will progress and achieve sustainable growth and profitability. However, there are certain risk factors, which might hinder the capability of the business to achieve the relevant milestones. The major risk can be conducted with the intense competition from different restaurants, which might hinder the business to achieve set milestones. The other risk in projected from the employees, where experienced individuals are needed for operating the 3D machine and making high grade sushi for the consumers. The acquisition of high end workers in the competitive market is relevantly difficult, which might hinder the business to achieve the required level of business achievement.

The risk-mitigation method can be used for reducing the overall risk occurring from the identified milestones. The method can eventually help in understanding the level of techniques and method that can be used by the business for achieving the identified milestone at the designated time. The use of online presence and extensive marketing strategy can eventually help in detecting the overall .

Initial Capital Requirement:

Particulars

Amount

Amount

Capital Costs:

Purchase of Sushi Machine

$ 120,000

Purchase of 3D Printer

$ 48,000

$ 168,000

Business Set-Up Cost:

License Fees

$ 800

Deposit for Telephone & Internet

$ 1,200

Logo Design

$ 300

Business Registration Cost

$ 2,250

$ 4,550

Costs

Salary of Employees

$ 6,000

Manager's Salary

$ 2,500

Rent

$ 7,500

Maintenance Cost

$ 1,900

Promotional Expenses

$ 4,500

Electricity Expenses

$ 1,200

Telephone Expense

$ 500

Cash Fund

$ 50,000

$ 74,100

TOTAL CAPITAL REQUIREMENT

$ 246,650

Share Capital

$160,322.50

Loan from Bank @9% interest

$ 86,328

TOTAL INVESTMENT

$ 246,650

Income Statement:

Particulars

1st Year

2nd Year

3rd Year

4th Year

5th Year

Total Revenue

$ 48,900

$ 65,800

$ 88,540

$ 119,140

$ 160,314

Expenses:

Cost of goods

$17,115.00

$23,029.94

$30,989.09

$41,698.92

$56,110.07

Salary of Employees

$ 6,000

$ 6,090

$ 6,181

$ 6,274

$ 6,368

Manager's Salary

$ 2,500

$ 2,538

$ 2,576

$ 2,614

$ 2,653

Rent

$ 7,500

$ 7,613

$ 7,727

$ 7,843

$ 7,960

Maintenance Cost

$ 1,900

$ 1,929

$ 1,957

$ 1,987

$ 2,017

Promotional Expenses

$ 4,500

$ 4,568

$ 4,636

$ 4,706

$ 4,776

Electricity Expenses

$1,200

$1,200

$1,200

$1,200

$1,200

Telephone Expense

$ 500

$ 500

$ 500

$ 500

$ 500

TOTAL OPERATING EXPENSES

$ 41,215

$ 47,466

$ 55,766

$ 66,822

$ 81,585

NET OPERATING INCOME/(LOSS)

$ 7,685

$ 18,334

$ 32,774

$ 52,318

$ 78,730

Less: Interest on Loan

$ 6,043

$ 6,043

$ 6,043

$ 6,043

$ 6,043

NET PROFIT BEFORE TAX

$ 1,642

$ 12,291

$ 26,731

$ 46,275

$ 72,687

Less: Income Tax @30%

 $     492.62

 $  3,687.29

 $   8,019.36

 $ 13,882.42

 $ 21,806.08

NET PROFIT AFTER TAX

$ 1,149

$ 8,604

$ 18,712

$ 32,392

$ 50,881

Cash Flow Statement:

Particulars

1st Year

2nd Year

3rd Year

4th Year

5th Year

Cash Flow from Operating Activities:

Total Revenue

$ 48,900

$ 65,800

$ 88,540

$ 119,140

$ 160,314

Cost of goods

         (15,404)

       (22,438)

        (30,193)

          (40,628)

         (54,669)

Salary of Employees

           (5,500)

         (6,083)

          (6,174)

            (6,266)

           (6,360)

Manager's Salary

           (2,292)

         (2,534)

          (2,572)

            (2,611)

           (2,650)

Rent

           (7,500)

         (7,613)

          (7,727)

            (7,843)

           (7,960)

Maintenance Cost

           (1,900)

         (1,929)

          (1,957)

            (1,987)

           (2,017)

Promotional Expenses

           (4,500)

         (4,568)

          (4,636)

            (4,706)

           (4,776)

Electricity Expenses

           (1,200)

         (1,200)

          (1,200)

            (1,200)

           (1,200)

Telephone Expense

              (500)

            (500)

             (500)

               (500)

              (500)

Tax Paid

              (493)

         (3,687)

          (8,019)

          (13,882)

         (21,806)

Net Cash Inflow/(Outflow) from Operating Activities

$ 9,612

$ 15,249

$ 25,561

$ 39,517

$ 58,376

Cash Flow from Investing Activities:

Purchase of Sushi Machine

       (120,000)

Purchase of 3D Printer

         (48,000)

Business Set-up Cost

           (4,550)

Net Cash Inflow/(Outflow) from Investing Activities

       (172,550)

$ 0

$ 0

$ 0

$ 0

Cash Flow from Financing Activities:

Owner's Contribution

$ 160,323

Loan from Bank

$ 86,328

Interest Paid

           (6,043)

         (6,043)

          (6,043)

            (6,043)

           (6,043)

Net Cash Inflow/(Outflow) from Financing Activities

$ 240,607

         (6,043)

          (6,043)

            (6,043)

           (6,043)

Net Increase/(Decrease) in Cash Flow

$ 77,669

$ 9,206

$ 19,519

           33,474

$ 52,333

Add: Opening Cash Balance

$ 0

$ 77,669

$ 86,875

$ 106,394

$ 139,868

Closing Cash Balance

$ 77,669

$ 86,875

$ 106,394

$ 139,868

$ 192,201

Balance Sheet:

Particulars

1st Year

2nd Year

3rd Year

4th Year

5th Year

Current Assets:

Cash at Bank

$ 77,669

$ 86,875

$ 106,394

$ 139,868

$ 192,201

TOTAL CURRENT ASSETS

$ 77,669

$ 86,875

$ 106,394

$ 139,868

$ 192,201

Non-Current Assets:

Sushi Machine

$ 120,000

$ 120,000

$ 120,000

$ 120,000

$ 120,000

3D Printer

$ 48,000

$ 48,000

$ 48,000

$ 48,000

$ 48,000

Preliminary Expenses

$ 4,550

$ 4,550

$ 4,550

$ 4,550

$ 4,550

TOTAL NON-CURRENT ASSETS

$ 172,550

$ 172,550

$ 172,550

$ 172,550

$ 172,550

TOTAL ASSETS

$ 250,219

$ 259,425

$ 278,944

$ 312,418

$ 364,751

Current Liabilities:

Accounts Payable

$ 1,712

$ 2,303

$ 3,099

$ 4,170

$ 5,611

Wages & Salaries Payable

$ 708

$ 719

$ 730

$ 741

$ 752

TOTAL CURRENT LIABILITIES

$ 2,420

$ 3,022

$ 3,829

$ 4,911

$ 6,363

Non-Current Liabilities:

Loan From Bank

$ 86,328

$ 86,328

$ 86,328

$ 86,328

$ 86,328

TOTAL NON-CURRENT LIABILITIES

$ 86,328

$ 86,328

$ 86,328

$ 86,328

$ 86,328

TOTAL LIABILITIES

$ 88,747

$ 89,349

$ 90,156

$ 91,238

$ 92,690

NET ASSETS

$ 161,472

$ 170,076

$ 188,787

$ 221,180

$ 272,061

Capital:

Owner's Contribution

$ 160,323

$ 160,323

$ 160,323

$ 160,323

$ 160,323

Retained Profit

$ 1,149

$ 9,753

$ 28,465

$ 60,857

$ 111,738

TOTAL CAPITAL

$ 161,472

$ 170,076

$ 188,787

$ 221,180

$ 272,061

Reference

Burns, P., & Dewhurst, J. (Eds.). (2016). Small business and entrepreneurship. Macmillan International Higher Education.

Chambers, I., & Humble, J. (2017). Plan for the planet: a business plan for a sustainable world. Routledge.

Ghezzi, A., Cavallaro, A., Rangone, A., & Balocco, R. (2015, April). A Comparative Study on the Impact of Business Model Design & Lean Startup Approach versus Traditional Business Plan on Mobile Startups Performance. In ICEIS (3) (pp. 196-203).

Hopp, C., Greene, F. J., Honig, B., Karlsson, T., & Samuelsson, M. (2018). Revisiting the influence of institutional forces on the written business plan: a replication study. Management Review Quarterly, 1-38.

McKeever, M. (2016). How to write a business plan. Nolo.

McKenzie, D. (2017). Identifying and spurring high-growth entrepreneurship: Experimental evidence from a business plan competition. American Economic Review, 107(8), 2278-2307.

Scarborough, N. M. (2016). Essentials of entrepreneurship and small business management. Pearson.

Simón-Moya, V., & Revuelto-Taboada, L. (2016). Revising the predictive capability of business plan quality for new firm survival using qualitative comparative analysis. Journal of Business Research, 69(4), 1351-1356.

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[Accessed 01 March 2024].

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