Crystal Edge Restaurant Essay

Type of Business Crystal Edge Restaurant is a sole trader venture that is owned and operated by Miss Jheneal Hall. She is responsible for the daily running of this restaurant, any profits or losses or any problems that the business encounters she is held accountable. Crystal Edge Restaurant will provide exquisite fine dining services to both local residents and tourists who visit the busy area of New Kingston. Other individuals from other areas are also welcomed to dine over high quality meals. The main objective here at Crystal Edge is to ensure that persons dine over healthy foods, in a nice clean friendly environment with an essence to feel home away from home. Our mission statement is â€Å"To ensure that each guest receives prompt, professional, friendly and courteous service. To maintain a clean, comfortable and well maintained premises for our guests and staff. To provide at a fair price – nutritional, well-prepared meals – using only quality ingredients. To ensure that all guests and staff are treated with the respect and dignity they deserve. To thank each guest for the opportunity to serve them. By maintaining these objectives we shall be assured of a fair profit that will allow us to contribute to the community we serve.† Justification of Loctaion Crystal Edge Restaurant is located in the commercial area of New Kingston at 4-6 New Kingston Shopping Centre. The restaurant is located here for several reasons: * Because of the large number of individuals that come here to shop and work, so therefore it is worth starting up a business in this vicinity because we see where profits can be maximized. * Another reason for the selection of this location is that it is accessible and safe for customers. * The government provides tax relief for restaurants operating in this area Selection of Appropriate Labour The type of labour necessary at Crystal Edge Restaurant is unskilled labour. The restaurant will need a total of nine (9) employees. The employment process will be done with aid of applications forms and resumes and the nine employees that will be selected will have different roles to play to make Crystal Edge Restaurant a success. The restaurant will need a head chef, an assistant chef, three waitresses, two janitors and two cashiers. The head chef which is also the owner plans and prepares the meals with the assistant chef to help in the preparation of meals also. The three waitresses will work extremely hard on a daily basis to ensure that the customers’ orders are taken and the food is delivered to them and also cleans the tables after other customers have finished dining. The janitors are responsible for cleaning and sanitizing the kitchen and dining area to ensure a clean and healthy environment and lastly two cashiers that cash the orders taken and give a printed receipt. This type of labour is necessary because it is an inexpensive way of accomplishing production and service goals without raising consumer costs. Sources of Fixed and Working Capital My sources of fixed and working capital are funding all my savings and a loan from the commercial bank. Some examples of fixed assets that will be bought are equipment, furniture’s, dishes, glassware, silverware and cookware’. working capital is defined as raw material, money and other items that are used up in the day to day running of the business or the goods that are constantly being used up in the business in it daily operation . Some examples of working capitals are the food inventory, supplies, and worker’s wages and salaries. Role of the Entrepreneur The entrepreneur is optimistic and future oriented; I believe that success is possible and I’m willing to risk my resources in the pursuit of profit. I’m fast moving, willing to try many different strategies to achieve my goals of profits. And I’m flexible, willing to change quickly when I get new information. The entrepreneur is also needed to invest skills and management abilities to promote production. Three functions of the entrepreneur are: * Entrepreneur initiates the business activity Meaning the entrepreneur has to start the business activity by preparing a proper plan. The plan should deal with the type of goods and services to be produced, sources of raw material and credit, type of technology to be used, the markets where the products can be sold, etc. The plan should be detailed one covering all the aspects of the business * Entrepreneur is the decision maker The most vital function an entrepreneur discharges refers to decision making in various fields of the business enterprise. He is the decision maker of all activities of the enterprise. * Managerial Function: Entrepreneur performs a variety of managerial function like determination of business objectives, formulation of production plans, product analysis and market research, organisation of sales procuring machine and material, recruitment of men and undertaking, of business operations. The entrepreneur also undertakes the basic managerial functions of planning, organising, co-ordinating, staffing, directing, motivating and controlling in the enterprise. Type of Production Crystal Edge is involved in primary production. Primary production can be described as extracting raw materials from the earth. We are involved in this type of production because we produce breakfast, lunch and dinner on a daily basis, so it is inour best interest to grow our natural foods such fruits, vegetables and some spices to also reduce expenditures on imports on help to stop global warming. Levels of Production Crystal Edge production will be for the domestic market. Meal will be prepared and served to local residents as well as tourist who visit the New Kingston area at reasonable and affordable prices.