mba 606 business simulation new restaurant start-up

MBA 606 Business SimulationNew Restaurant Start-Up

MBA 606 Simulation-as-Bridge– Experiential bridge

•Business Fundamentals to New Product Development Module•Business Fundamentals to Strategic Management

– Functional and process integration•Marketing•Finance•Accounting•HRM•Operations, purchasing, logistics•Teamwork and leadership•Competitive analysis and strategy•Business communication

New Restaurant Start-up– Develop business plan– Pitch new restaurant concept to “investors”

•Oral presentation of business plan•Cook and serve “signature dish” in head-to-head

competition– Business Plan

• 10 written pages total• 20-minute oral presentation• Ideas from example business plan• Emphasis on quality of concept, strategy, creativity, market

position, etc. (not necessarily finance/accounting)

Lexington’s Restaurant Market

Menu– Comprehensive enough to support your concept• Appetizers• Salads• Entrees• Desserts• Beverages

Signature Dish– The one dish that exemplifies your concept

• 10 servings

Signature Dish– Anything goes

Division of Labor – Staffing

• Wait staff• Kitchen staff• Business group

Business Team

Kitchen Operations– Cooking Team

Physical Environment and Ambiance

– Floor plan– Décor– Table aesthetics– Staff appearance

Location– Commercial real estate available in Lexington• www.naiisaac.com• www.haymakercompany.com

Purchasing

• Shop for core ingredients• Meat, produce, dairy, grains

• Food costs = 70% of retail• High quality inputs

• Fresh Market, Whole Foods, Good Foods Co-op

• Low quality inputs• Wal-Mart, Sam’s Club

Your signature dish MUST include at least one Kentucky-sourced ingredient or input

Ideas, Critical Success Factors

TUESDAY – Best Practices Panel

• 8:30-10:00 – Group 1• Debbie Long (Dudley’s)• Wayne Masterman (Portofino)• Rob Ramsey (Ramsey’s)

• 10:00-11:30 – Group 2• Mike Wolken (Turf Catering)• Rob Perez (Saul Good) • Brian McCarty (Malone’s)• Bruce Drake (Malone’s)

TUESDAY – Kitchen Walk-thru

• Erikson Hall, Lemon Tree Restaurant– 1:30-2:00 – Group 1– 2:30-3:00 – Group 2

– Kitchen staff only

WEDNESDAY – Concept/Dish Spot Check 1:00-3:00

15-minute consultation meetings (Rm. 315) with Executive Chef Ferrier

On-demand consultation anytime• 361-2128 (m)• [email protected]

THURSDAY – Test Kitchen

• Erikson Hall, Lemon Tree Restaurant• 1:30-2:30 – Group 1• 3:00-4:00 – Group 2

FRIDAY – Business Plan & Tasting Competition• Erikson Hall, Lemon Tree Restaurant

– 10:30-12:30 – Group 1– 2:00-4:00 – Group 2

• 20-minute time block– Oral presentation of business plan– 10 servings/plates of “signature dish”

•Served JIT•Carefully measure prep & cooking time

• “Investors” will fund competing restaurants– Most start-up cash wins– Crazy idea

•Winning team may also have dish featured at local restaurant

…Questions?

mba 606 business simulation new restaurant start-up

Documents