Question

Topic: Student Questions

How Do I Get The Numbers For A Mock Biz Plan

Posted by Anonymous on 8/31/2005 at 10:19 AM ET 125 Points
I am a MBA student and in my Entreprenur class we have to come up with a mock business venture complete with a full detailed business plan. I am franchising The Melting Pot fondue restaurant and was wondering if anyone could tell me how I would find the info for monthly expenses, burn and break even rate, etc. My plan is to contact owners of this already established restaurant to see if they would be willing to assist me in getting the numbers, but I've already had one door slammed in my face, metaphorically speaking. I guess my question is, how do I come up with the numbers if I can't get an owner of the actual restaurant I am franchising to help me predict my monthly expenditures, profits, etc?
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  • Posted by wnelson on 8/31/2005 at 10:42 AM Accepted
    The numbers you seek for the mock business plan are obtained the same way you do in real life: Lots of research. There are some business plan software websites with examples that include numbers, that's an easy first start, but frankly, this doesn't teach you anything and you should use it only as a reference. Go look at restaurants to find out things like how many square foot they have for table space, how many they can seat (counting floor or ceiling tiles, pacing the interior, counting chairs, etc). Look at menus for prices. Ask the restaurant manager questions - prepare them ahead of time. Find out how big the kitchen is, how many cooks, how many stoves, how many dishwashers (equipment and people), how many servers, how many bus boys. You will find that like here, most people want to help students who are trying to learn the business. And then use your "vision" to put the rest together. What will be your unique selling points? Just what the world needs, another "me too" restaurant to go out of business! Why will yours work? Test those USP's against potential customers in a survey (friends, relatives, strangers on the street). Like a real business plan, you have to have an idea of what you are trying to accomplish for your restaurant. And you have to do a lot of leg work.

    Hope this helps.

    Wayde
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