Reference no: EM132258446

Course: Business Final Financial Plan

Project :

Controlling Costs and Expenses for a new restaurant (For example in Toronto, Canada)

Objectives

Identify sources of potential cost overruns

Identify potential methods of growth for the venture Description

Every new venture encounters unforeseen events, obstacles, and costs that must be overcome.

As the business begins to establish itself, it is tempting to increase spending at a rate faster than the business plan has foreseen.

It is critical that the entrepreneur have a process in place to control ballooning costs.

Instructions

Prepare a checklist of your own restaurant business methods for controlling costs, followed by a description of the methods you will use.

Your resulting paper should be 4-5 double-spaced pages in length, not including a title page or references..

a. Identify and describe opportunities and strategies for growth

b. List the challenges associated with each opportunity for growth.

c. Describe the sources of potential cost overruns in your current plan and as the organization grows.

d. Create strategies for controlling each potential cost overrun.

e. Demonstrate good organization, including a strong introduction and conclusion.