Food And Beverage Essay

The restaurant industry can be a fickle friend. Business trends directly with the economy and is linked with a dizzying amount of other factors, enough to make any manager go crazy. Yet at the same time the industry is lucrative and therefore enticing. The industry has been a contributing factor in the slow recovery from economic recession and is showing growth in sales (Stensson, 2011). Specifically, the fast food industry if projected to grow at a slightly higher rate of 3.3% over that of the full service industry at 3.1% (Stensson, 2011). With expanding sales comes higher demand and restaurant jobs are estimated to rise by 1.3 million positions by 2021 (Stensson, 2011).

Din Tai Fung is one of the successful cases of a F&B Establishment in Singapore. Various information such as the background of the organisation, brand, menu, estimated income and cost, marketing efforts will be furthered discuss in this report from a potential investor point of view.

The three main challenges when setting up a business are: cash flow, product supply and demand, and human resources. Depending on the type of business, you will have the initial cost of beginning the business prior to any income derived from that business. What type of product are you selling and is there a consumer

In this case looking at starting a whole sale company one would look into other companies with similar services. Businesses such as Wal-Mart or Costco could give an idea on the financial background and how to begin. Financial analysis such as Morningstar is one place to get good information on Financials, Profitability, Key Ratios and operating margins. It’s not just enough to know the numbers but also to understand what they mean. Terms such as S&P 500 which is a gauge of large-cap U.S. equities to compare against other companies. It takes 500 top companies and captures approximately 80% coverage of available market capitalization. One example of the numbers on this is the difference in “Price vs Cash Flow (WM 8.6% and S&P 12.0%). These numbers are based on a three year average. Whereas the last figures of WM is 9.8% which is based on a 5 year average (S&P Dow Jones,

[1] Department for Manufacturing, Innovation, Trade, Resources and Energy, A Guide to Starting a Restaurant / Café / Take-away. http://www.dmitre.sa.gov.au/files/1037_restaurant_and_catering_guide.pdf?v=128

What is your vision for your business, and what are your goals? Who are your target customers? You’ll need to look at potential employees – will they be contractors, staff workers, or a combination of both. Are remote workers all right or do you want everyone to work onsite? Finally, you’ll need to go over your finances with a fine tooth comb – how much cash do you have on hand, and how much credit? What will you need for start-up, emergencies and company growth?

In this paper I will attempt to explain the strengths and weaknesses of a restaurant. I also will attempt to show one way how they can utilize their strengths and minimize their weaknesses To be competitive. I will further explain how their ability to have Stylish Restaurants with Ever Changing Decor, their online and call in orders, Online and Phone reservations, Premium Cocktails, Ruby Tue Go, Full Service Catering, and Extensive Menu Variety give them a competitive edge in their market. With their online and call ahead service called Ruby Tue GO it gives you the ability to order your food before you lunch hour and stop by to pick it up saving yourself a considerable amount of valuable time. With being able to call ahead or go

· Setting communication infrastructure will be the first step to start a business. Secondly, utilizing a personal network such as attending business events like Black Women in Business (BWIB) to gain more knowledge on how to operate a successful business. Thirdly, seek advice from experts in the similar field to learn from failures and success of people who have accomplished their goal (Cutler, 2015). Lastly, being creative and competitive with pricing to get the company established in the logistic industry. My focus will be on the values of the business to get a buy-in from potiential clients and investors. Futhermore, continue to do research on services, products, taxes, and company revenues for improvement opportunities.

When setting up a business you need to have passion, confidence and knowing your skills set. The business I intend to set up is a Window cleaning business. There are certain things needed to follow to set up me business and they are Strengths, Weaknesses, Opportunities, Threats and Skills.

· The steps taken to start a business are: a) setting up communication infrastructure; b) utilize a personal network such as attending business events like Black Women in Business (BWIB) to gain more knowledge on how to operate a successful business; c) seek advice from experts in the same field to learn from failures and success in the community to accomplish goals (Cutler, 2015); d) be creative and competitive with pricing to get the company going in the logistics industry; e) continue to research on services, products, taxes, and revenues for improvement opportunities. The focus will be on the values of the business to get a buy-in from potential clients and investors.

The first step to establish the business is to set a business plan, figure your finances and seek the advice and guidance of professional photographer. To attract clients, I had to create my own brand and promote my business through social media. Once the business picked up. I embarked on aggressive marketing using in person and online marketing strategies such as Google Ads. Maintaining a website and a blog was also critical in expanding the business.

If you are the owner of the business, then you either have a business plan and or a mission statement. You should have both. Take this information and begin to formulate the things that need to be accomplished, the time period in which they need to be accomplished and by whom they need to be accomplished by.

Large families will struggle to get enough food for them to get by. Even if they go to multiple food pantries, which most don’t because they lack means of transportation, they will still struggle to get enough food for their family. Even if they could get close to enough food from food pantries, they still don’t know where their next meal will come from. Food pantries most of the time are not their only source of food, but most families don’t make enough to get enough food even for themselves. Any size family can get from 50-150 pounds of food from local food pantries, meaning that large families (5 or more people) would still need approximately 675-700 more pounds of food per

Introduction Opening up a business such as a franchise can carry many risks, both financially and personally but can also be very rewarding and challenging. Some people make a decent living, some end up rich, then again, plenty of people fail. (MSNMoney, 2014) There are many advantages of owning a franchise. Some advantages are that you have association with a well-established brand, reputation and product or service, access to established standard procedures, operating manuals and stock control systems.

You will need to carry out primary and secondary research, using the internet, interviews with business owners or employees, and observations of the business if they are local.