The paper "Market Evaluation for New Lakes Restaurant" is a perfect example of a finance and accounting assignment. The proposed New Lakes restaurant will be located in the city of Portsmouth in the region of Finger Lakes. The project is intended to begin its operations in April 2013. New Lakes will be a full-service restaurant that is dedicated to providing the best customer satisfaction food and services. It will be rendering quality food and accommodation services, a pleasant atmosphere, and any other services as it may be required by the customers.
All these will be at an affordable price. In addition, New Lakes restaurant will maintain favorable work environment, that respects diversity, hard work, and ready to accept new business ideas from the staff members. The annual revenue of the restaurant is projected to be 508,000 sterling pounds in the first year, and it is expected to go up by 10% in the following year. The proceedings in the subsequent years will be determined by the operations and trends of the restaurant. To set up a restaurant needs sufficient initial capital will be obtained through loan and credit.
A loan of 40,000 sterling pounds will be obtained to cater for the purchase of assets and complete leaseholds. The loan to be acquired will have a 5 years term. Additionally, credit of 8,000 sterling pounds will be acquired from a financial institution (Liu, 2012). The reason for acquiring credit is to cater for working capital shortfalls that are likely to be experienced in the project. The loan and credit interests will be paid from the outstanding balances. Section 2: Market Evaluation for the Restaurant The Business and its Management The setting up of this restaurant in the region will be a unique concept because there has not been a restaurant of the same class previously.
The idea of the restaurant business came up after comprehensive research on business opportunities in the region. A research finding proves that the Finger Lake region is an excellent place to locate the projected restaurant.
Liu, K. &. (2012). Sample Restaurant Business Plan. Retrieved November 21, 2012, from http://www.onagon.com/docs/sample_reports/Sample_Restaurant_Business_Plan-08-27-2011_21-09-21_Assembled.pdf
LumleyInsurance. (2012). Restaurant and Café Risk Management Guide Overview. Retrieved November 24, 2012, from http://www.lumley.com.au/sites/LumleyInsurance/Intermediaries/Products/Documents/PLRMG800_Cafe%20and%20Restaurant%20Risk%20Mangaement%20Guide.pdf
Stumer, M. (2012). Archive for the 'Intellectual Property' Category . Retrieved November 24, 2012, from http://www.restaurantlawyerblog.com/category/intellectual-property/