A. The building and the land it sits on will cost $250,000 and you have 20% to put down on the property. Annual taxes are $6,000 and fire and liability insurance is $3,600.

B. You have $150,000 of additional funds to allocate for refurbishing the grounds, building structure, interior design, and kitchen. 10% of the savings will be allocated to the grounds, 20% to the building’s structure, 20% to update the interior design, and 50% for kitchen installation and fire suppression systems.

C. Tables are $200 each for 2 tops, $300 each for 4 tops, and $500 each for 6 tops. You plan to purchase eight (8) 2-top tables, six (6) 4-top tables, and ten (10) 6-top tables. Chairs cost $50 each. You are planning on being able to seat 100 people in the restaurant at a time and need 10 extra chairs. Silverware, tablecloths and napkins cost a total of $6,000, serving utensils cost a total of $3,000, and glassware cost a total of $5,000.

D. Place/plate settings cost $35 each. You need to purchase three times the number of planned seats for turn-around and breakage. (Remember you are planning for 100 people in your restaurant.)

E. Servicing carts, cooking equipment, prep tables, storage containers, and other supplies will cost a total of $16,000.

F. Research suggests that the average receipt total per person is $12.80 and the average cost per meal is $6.86 for the Italian restaurants in your area. The research also suggests that tables are turned over for new customers between 13 and 21 times a day in your area, and that restaurants have between 40% and 60% occupancy fill rate each day.

Answer rating: 100% (QA)

Business layout Building and land sits on a 20 x 250000 50000 for property cost 250000 of Annual tax... View the full answer