Individual Assignment #03

Company Me

Personal Business Plan 

            The mission statement for Company Me is to provide our customers with the best possible service, while maintaining a safe and fun work environment for our employees. 

Business Environment

            

            Company Me is competing in the food service industry. We are a restaurant that specializes in New Mexican cuisine. The food service industry in the global environment is not very stable. It is affected by many variables such as the cost of food, the cost of labor, the type of cuisine being cooked and the location of the restaurant. The economic forces that influence supply and demand of the food service industry is again the cost of food, the cost of labor, etc. 

The average server in Pennsylvania makes around $26,000 a year or $2.83 an hour plus tips. 

Entrepreneurship and Strategy

            As the CEO of a New Mexican restaurant in Pittsburgh, Pennsylvania I expect one of the biggest challenges I’ll face is promoting this type of food to the locals. There aren’t too many traditional New Mexican/Mexican restaurants in the area so I’m assuming people will be interested in the new cuisine. Another struggle I’ll face is securing shipments of green chili, and convincing people to try it. Green chili is cooking in every meal in New Mexico so it’s essential that I have enough product. I would conduct a SWOT analysisbefore opening my restaurant to make sure it’d be a good fit in the community. However, the uniqueness of a New Mexican restaurant in Pittsburgh would help me be successful. 

Management

            As the general manager of a New Mexican restaurant I make sure that the restaurant hierarchy is established by hiring competent and well trained First-line managersto supervise the serving staff and kitchen staff. I would also make sure the responsibilities of each department are clear because in a restaurant the kitchen staff will have different responsibilities than the serving staff. I would also employ a democratic leadership styleso that y employees can express their opinions and ideas for running the restaurant more effectively, however, the final decision would still be mine. I would treat my staff with respect and respect their rights as workers and as people. 

Marketing

            As CMO of a New Mexican restaurant in would start by promoting the new cuisine within the community. This will be done by purchasing ads in the local newspaper as well as short commercials on TV. I would then hold an open house for the local residents so they can come try the food. This will be done by providing a free meal to a set number of people who live in the neighborhood. My potential customer are anyone who enjoys good food. My marketing mix would be New Mexican cuisine as our product, an average of $15-20 a plate for entrees and $10-15 for appetizers, we would be located in Pittsburg, PA, and would promote our restaurant to the community and by word of mouth. I expect to attract potential customers because Pittsburgh is a foody city with a wide variety of restaurants, however there is not a lot of traditional New Mexican/Mexican restaurants. 

Accounting and Finance

            As CFO I would create a financial plan by analyzing trends of other restaurants in the same general location to see when their busiest and if there are any seasonal trends in consumption such as the summer when college students return home, or holidays when people want to go out and eat. When it comes to personal investments I would have to see how much debt I have and what my annual income is. Once I do this I can begin to estimate my annual expenditures and forecast how much I need to save up. 

Information Systems 

            As a restaurant owner and operator one of the most important things is a working POS system so that servers are able to ring in orders that go back to the kitchen so that the cooks can make the food all within a short time.