Bb Take Test: Chapter 5 Case Study - X G Which of these fats is high in satu X + V X C D Abb-pulaskitech.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_315104_1&course_id=_40916_1&content_id=_43... [ C . . . Login | Salesforce team page N Workbook Case: 22976102 - C... SAP Fieldglass Login 6% Assignments | Profil... & Home https://lashgroup--l... Pages - PTO-2 > > Course Content My Grades Contact QUESTION 1 10 points Save Answer Support Case Contributor : James E. McManemon, MS., University of SouthFlorida, Sarasota-Manatee. UA-PTC Student Resources Title : BOKA Restaurant Group Student Blackboard Resources Purpose : To assess what it takes to be a successful independent restaurant operator. Student Resources Company Background : Student Newsletter BOKA Restaurant Group was started in 2003 by Kevin Boehm and Rob Katz, two restaurateurs that come Library Resources from different backgrounds, but have found a common ground in co-owning a restaurant company. The two partners met when Rob, who owned a series ofbars, was looking to make a jump into restaurants. Kevin, Tutoring Online who had owned several restaurants after working his way up in the industry, was looking at the same time General Blackboard Help for a partner to open a restaurant in the Chicago market. They found commonality in having a similar mentality for starting a restaurant business, and from there BOKA Restaurant Group was formed, deriving COVID Information its name from the first two letters of each owner's last name. BRG's portfolio consists of eight restaurants currently in operation and another four restaurants that are scheduled to open at different times within the next year. BRG's first restaurant, BOKA, was opened in 2003. After that, the company opened Landmark in 2005, Perennial Virant in 2008, Girl and the Goat in 2010, and GT Fish & Oyster in 2011. Balena, Elaine's CoffeeCall, Little Goat Diner, and The J. Parker were all opened in 2012, and Little Goat Bread was opened in 2013. In the heainning BRG's concent was to create a trulychef-driven restaurant experience by Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit Type here to search m w 10:44 AM 09/25/2022Bb Take Test: Chapter 5 Case Study - X G Which of these fats is high in satu X + V X C D Abb-pulaskitech.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_315104_1&course_id=_40916_1&content_id=_43... [ C . . . Login | Salesforce team page e N Workbook Case: 22976102 - C... SAP Fieldglass Login 6% Assignments | Profil... Home https://lashgroup--l... Pages - PTO-2 > > 2005, Perennial Virant in 2008, Girl and the Goat in 2010, and GT Fish & Oyster in 2011. Balena, Elaine's CoffeeCall, Little Goat Diner, and The J. Parker were all opened in 2012, and Little Goat Bread was opened in 2013. In the beginning, BRG's concept was to create a trulychef-driven restaurant experience by developing a series of individualchef-partnered restaurants. The owners at BRG approach each restaurant with a unique and distinct approach. Currently, BRG partners with six different chefs. This forces the owners to look at their restaurants, and each chef partner, as a different sector within one company. The process of selecting the right chef partner begins with a tasting, at which time the chef will prepare a series of dishes for the owners to taste, provide feedback on, and ultimately decide if they would like to partner with the chef or not. After selecting the chefpartner, the owners and the chef will work together to create the perfect menu for the new restaurant. The process of creating the menu for a new restaurant begins with a test kitchen that is used to experiment with different ideas. BRG's restaurant demographics are unique to both the concept and neighborhood of each individual restaurant. On onehand, GT Fish & Oyster is in River North, where the population density lends itself to a strong workforce that is slightly trendier, moreenergetic, and less of the fine-dining mindset. BOKA, on the otherhand, is the company's Michelin-starred restaurant, which is located across from the world-famous Steppenwolf Theatre. As aconsequence, the cuisine is geared more towards an upscale theatre crowd. BRG is soon opening a restaurant in Google's new building, which raises the question of "what is the right restaurant concept to draw a lot of Google employees into the restaurant?" The business model for each of BRG's restaurant operations follows a common structure, which consists of allocating revenue asfollows: 30% for cost of goods sold, 30% for labor, 4% for occupancy, and 16% SILO, which is an acronym created by BRG owners that means supplies, insurance, leased equipment, and everything else, leaving 20% for profit. In order to fund BOKA, the company's first restaurant, BRG's owners needed to borrow investment money. They developed a pro forma budget in order to determine the amount that the company could borrow and pay back within three years of opening the restaurant That in the mavimum amount of rials tha nom nanu was willing to takea for harrowing mannu to Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit Type here to search O 10:44 AM 09/25/2022Bb Take Test: Chapter 5 Case Study - X G Which of these fats is high in satu X + V X F C D Abb-pulaskitech.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_315104_1&course_id=_40916_1&content_id=_43... [ C . . . Login | Salesforce team page IN Workbook Case: 22976102 - C... SAP Fieldglass Login 6% Assignments | Profil... Home https://lashgroup--l... Pages - PTO-2 > > togetnel, were paid 80% Of inerestaurants promIt unui The principal was paid oil, leaving Doin OwnersZU. profit to split between them. Once the principal was paid off, the amount of profit paid to the investment partners shifted to 40%, leaving 60% for the owners to split between them moving forward. Industry : The accumulation of interest in the restaurant industry has been attributed to the increasing number of food-based reality television shows that have appeared in the last decade. This has brought a lot of new people into the restaurant industry, many of whom already worked in other industries or had gone to school for something unrelated. At this point, the restaurant industry is swarming with people from every background and skill level. The owners of BRG are looking at people less for their technical skills and more for their emotional skills. They try to give follow up interviews to people that they think are smart and have the capacity to learn and grow on the job. They are looking for people with solid characteristics and morals who are very trusting in their own ability to train those people in the belief that all skills are transferable. For upper management-level employees, the owners are looking for people that are accountable, organized, system-oriented, and possess problem-solving skills. Case : When BRG partnered with Stephanie Izard for developing Girl and the Goat, she had just won a Top Chef award, and she was armed with a specific concept in mind. At the time, the economy had just taken a nosedive into the recession, which somewhat altered the concept discussion, thus bringing the idea of middle class sensibility into the picture. The company wanted to create a concept that offered guests a sense of perceived value; therefore, opening up a smaller restaurant with moderately priced dishes was important to them. According to the owners, determining the status of the economy is extremely important before opening a restaurant, because of theindustry's high rate of failure. Because rent per square footage had dropped as a result of the recession, the economic situation allowed the owners to look for a building in a neighborhood that had a higher profile than some of theBRG's previous restaurants The owners determined that the West Loon area was an un-and-coming urban Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit Type here to search m 10:44 AM 09/25/2022Take Test: Chapter 5 Case Study X 5 Which of these fats is high in 55 X I + V X ( C 0 bb-pu|askitech.blackboard.com/webapps/assessment/take/launch.jsp?course,assessmentii(1:73i5104,18tcourseiida4091671Btcontentiida43... l9 75': I! I] a E . Login l Salesforce 9 team page I! Workbook . Case: 22976102 . C. SAP Fieldglass Login 6% Assignments l Profi|.. 9 Home 9 https://lashgroup~l. 9 Pages 7 PTOeZ >> Because rent per square footage had dropped as a result of the recession. the economic situation allowed the owners to look for a building in a neighborhood that had a higher profile than some of theBRG's previous restaurants. The owners determined that the West Loop area was an up-and-coming urban neighborhood and poised to be the next big foodie mecca of Chicago, making Girl and the Goat the right concept to succeed in that environment. The area has a great proximity to downtown Chicago; it is located relatively close to the expressway for ease of access; and people are taking advantage of lower prices in the area to purchase property. Currently, the neighborhood is one of the hottest real estate areas in the UnitedStates, bringing new companies of all sorts to the area. The owners purchased a building that was 4,400 square feet, which included 2,100 square feet of restaurant space that can hold 122 seats in the dining room and 22 seats at the bar. In regard tosize, Girl and the Goat falls in the middle of BRG's portfolio of restaurants. The company's largest restaurant as of this time is10,000 square feet and can seat 180 guests; the company's smallestrestaurant, GT Fish & Oyster, is 3,100 square feet and seats up to 110 guests. The overall budget to open Girl and the Goat was $1.4 million. Upon opening, the owners projected the restaurant to earn approximately $5 million in its first year; however, the restaurant signicantly exceeded expectations, raking in $10 million in its first year of operation, allowing the owners to pay offtheir investment debt in 9 months. The restaurant is unique in that it does on average the same amount of covers every night of the year. Question 1: How much profit per month would BOKA restaurant need to make to pay back BRG's five investment partners in three years (not taking any costs into consideration)? Save All Answers Save and Submit _ ,l 10:45AM ,0 Type hereto search E1\" 09/25/2022 G Bb Take Test: Chapter 5 Case Study - X G Which of these fats is high in satu X + V X C D Abb-pulaskitech.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_315104_1&course_id=_40916_1&content_id=_43... [ C . . . Login | Salesforce team page N Workbook Case: 22976102 - C... SAP Fieldglass Login 6% Assignments | Profil... Home https://lashgroup--I... Pages - PTO-2 > > The overall budget to open Girl and the Goat was $1.4 million. Upon opening, the owners projected the restaurant to earn approximately $5 million in its first year; however, the restaurant significantly exceeded expectations, raking in $10 million in its first year of operation, allowing the owners to pay off their investment debt in 9 months. The restaurant is unique in that it does on average the same amount of covers every night of the year. Question 1: How much profit per month would BOKA restaurant need to make to pay back BRG's five investment partners in three years (not taking any costs into consideration)? O A. $15,625/month O B. $18,001/month O C. $19,845/month O D. There is no way to figure this out. QUESTION 2 10 points Save Answer What is the Labor Costs? Assume that the company's annual revenue is $400,000. $120,000 O $240,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit Type here to search 10:45 AM O w 09/25/2022Bb Take Test: Chapter 5 Case Study - X G Which of these fats is high in sati X + V X C D Abb-pulaskitech.blackboard.com/webapps/assessment/take/launch.jsp?course_assessment_id=_315104_1&course_id=_40916_1&content_id=_43... [ C . . . Login | Salesforce team page IN Workbook Case: 22976102 - C... > $240,000 O $130,000 O $145,000 QUESTION 3 10 points Save Answer What is the Profit? Assume that the company's annual revenue is$400,000. O A. $38,000 O B. $55,000 O C. $25,000 O D. $80,000 QUESTION 4 10 points Save Answer There are more advantages of hiring someone with the right emotional characteristics and less technical skills versus someone with more technical skills and less favorable emotional characteristics? O True O False Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save and Submit Type here to search O w 10:45 AM 09/25/2022