Business Plan

Business plan for At Work

At Work pg 1

The name of the company that I am proposing to you for investment is ???At Work???, it is a sports bar and grill and it is located downtown Austin, Texas near the University Of Texas at Austin. Here people will be able to come in and sit down and eat or have a drink as well as enjoy watching sports. The structure of the company will be proprietorship, and I have decided to go this avenue for the simple reason that I would rather be the sole person responsible for the company. I have thought long and hard about opening up this type of business because I wanted somewhere where not only families can come and enjoy the food and atmosphere but the college students. Give them a place that they can sit down and relax and get away from the classroom for awhile. Customers will enjoy specials on food through out the week especially during football season, and prices will be affordable because of the location and being close to the campus. After nine at night Friday and Saturday we will have the finest DJ in town that will play the latest music that is playing, we all have been through the scenario of campus life and we all know how much we need a break from school and assignments. There will be security guards that will have the finest training and if someone feels like they need to have an escort to their vehicle they will provide it for them. The role that accounting will play in helping me start the business is knowing what the projected budget will be each day and what the budget will be for the food and drinks that will be on the menu and the cost of the building and to employee enough staff to service the customers. In the annual reports the accountants will have information that is relevant in
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making a difference in the business decision because it will provide the investor the forecasting of the company and will help confirm or correct any prior expectations. The reports will have a sales forecast that will show the potential sales that involve these various factors: economic condition, the trends in the industry, research studies on the market, anticipated advertising and promotion, if any previous market shares and the price changes and development in technology. The characteristics I will be looking for in hiring my accounting staff are: education and they qualifications, have to have BS/BA in Accounting or Finances plus 4-5 years of related experience, the knowledge of financial statements and reports and know how to review and analyze data. Be proficient in computer operation skills including accounting system, spreadsheets and word processing software. The education that I, the owner, have to have is a BS/BA degree and knows and understands what and how important a budget is for a company to survive and to make a profit, know how to read and monitor the assets from employee theft, robbery, and unauthorized use and have accurate and reliable accounting records. By safeguarding the assets of the company the owner needs to have established responsible employees will are managers and supervisors, someone who can be trusted with opening and closing of the sports bar and grill and by having mechanical and electronic controls inside and d outside the building for safety reasons will help control robbery and employee theft. By segregating duties will eliminate problems as well by having employees have different duties inside the business, a manager will be responsible for
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opening the doors along with a supervisor and getting the money ready for the day both have to be present and at closing time the closing manager and supervisor will be responsible for the same duties of closing out the registers and making sure everything is clean and ready to go the next day. The employees will be responsible for cleaning the bar and eating area the kitchen staff for the kitchen and the bartender needs to log every bottle of liquor and bottle of beer in that area and give the log book to the closing manager. Each employee with have a card with their employee number on it and when they arrive at work they have to swipe that card into the timecard machine and when leaving after their shift, when the waiter/waitress order food for the customer they have to enter the employee number and when drinks are ordered from the bar they will do the same thing. That way the system will keep track of the orders that are made and the total of the bills so if unapproved discounts are made the management will know who did it. When it come to documentations a copy of the drivers license and social security card has to be on file by law and with keeping a log book for the bar and as well as in the kitchen when deliveries are made will help the management know what needs to be order and what is not in demand and can be eliminated from the ordering. The managers will have a meeting with the owner and accountant once a week to go over the income and debt ratio of the business; we will discuss what can be eliminated due to the fact that it is not generating a profit and what can be kept and expand on since it is generating enough of an income. The performance of the employees will be discussed every meeting and if
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there are areas for improvement that person will be coached along the way, but if it is a constant thing that takes place more then it should that employee will have to be let go. Going over the budget for the week the managers will know how many people will be on staff because of the revenue from the week prior, if the money was not coming in that fast on a curtain day then staff will be sent home and the next week staffing will be short staffed but if it starts to get busy then employees can be called in. After a couple of months the management team will be able along with the owner and accountant will be able to sit down and predict what the next month will be like or the next year.

References:

Internal Control and Cash, Chapter 4, author unknown