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Dessert Bar

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by

Lil Walker

on 7 June 2013

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Transcript of Dessert Bar

Sources of Advice Paths to Entry Lillian Walker
Kimberley Campbell Presentation Overview Legal Requirements Dessert Bar -Paths to Entry
-Sources of Advice
-Legal Requirements
-Goodwill
-Skills
-Measuring Performance
-Critical Pieces of Advice Thank You!! About "Deserve Dessert" Team (introduce chef here, someone famous)
(introduce other staff members too) Measuring Performance Goodwill Skills Pieces of Advice Start up
Franchise
Existing Activity Pieces of Advice Lillian Walker
Kimberley Campbell Activity One - The Taste Test 1. Eat Cupcake 1
2. Eat Cupcake 2
3. Drink!! Informal Networks Friends or Family provide advice
May be unreliable Five sources of advice:
1. Informal networks
2. Industry associations
3. Government departments and Agencies
4. Professionals Industry Associations 1. Australian Culinary Federation
2. Restaurant and Catering Association Australia Government Departments and Agencies AusIndustry
‘key source of information and referral over a range of business areas,’ Innovation.gov
National Business Names Registration service
Enterprise Connect Povide support through:
•Funding and grants for business ventures
•Assistance in establishing networks; and
•Organizing conferences and special events Professionals Solicitors:
Draw up contracts
Advise on best form of business
Point our areas that may need attention Accountants:
Consulted before as well as during business operation
Manage taxes
Adjust repayment shceme on loans Assets - $225,000
Selling Price - $350,000
Difference - $125,000 “an intangible asset which provides a competitive advantage, such as a strong brand, reputation, or high employee morale,” Investor Words People pay a premium
Buy a franchise/existing business, buy its goodwill
Cannot succeed without it as it is a measure of positives about your business (i.e. customer satisfaction and reputation) Business performance is measured through Key Performance Indicators (KPI) Staff and employment Kitchen Management FOH and restaurant management Sales, Marketing and management Finance • Wage Cost % - wage costs as a percentage of sales

• Total Labour Hours - how many hours worked in each section?

• Sick days taken

• Labour turnover (number of new staff in any one week or month)

• Average length of employment

• Average hourly pay •Food Cost %

•Total Food Costs

•Food Costs per head

•Kitchen Labour hours

•Stock Value

•Best (and worst) selling items •Total Sales Per Head

•Number of customers

•Dessert, Beverage Sales per head

•Seating Efficiency

•Customer satisfaction

•RevPASH - Revenue per Available Seat Hour •Number of customers

•Sales per Head - across all areas

•Marketing and advertising costs

•Bookings

•Function Inquiries

•Sales inquiry conversion rate - the number of inquiries that turn into actual sales •Cash position at bank

•Stock take discrepancies

•Return on Investment

•Taxes owed

•Sales & costs

•Computer and technology efficiency Important for a Dessert Bar:
The number of sales per head
Sales in comparison to costs
Number of customers
Return on investment
Customer satisfaction Do some training to enhance your skills


Don't be afraid to ask for help


Keep track of business performance with KPIs SELF START UP * ALLOWS CREATIVITY
* NOTHING PREVIOUSLY
AFFECTS PERFORMANCE Sole Trading
Partnership
Proprietary Limited
Company Sole Trading:


Unlimited liability
Access to personal assets
'Dessert Bar' tax
included in personal tax Partnership:


Between two and twenty
people
Professional and
legal help required
Unlimited Liability Legal Requirements Paths to Entry Paths to Entry Legal Requirements Proprietary Limited Company:

Limited liability
Opportunity for expansion
Income tax at a flat rate
Separate tax to personal tax
More shareholders allowed, between one and fifty Legal Requirements Licensing:
Food Business License
To apply, visit- http://www.brisbane.qld.gov.au/laws-permits/index.htm
Food saftey legislation- http://www.health.qld.gov.au/foodsafety/legislation.asp Registration:
Company named registrated through a business service provider where issued ABN & ACN Skills Qualifications:

Certificate 3 in
hospitality as a
patissitre

Gained at TAFE
or/and University Can we please have 3 volunteers? Activity You have 30 seconds to decorate the plate in front of you using only the ingredients provided

GO!!

Now we would like to ask the audience to look inside your information packs and you will find a $10 note, please place the money on the plate you would buy based off its appearance *This is demonstrating the importance of being artistic for a dessert bar Have the right skills and gain a qualification Establish a trustworthy network to base KPI's off Know and fully understand what is required from you legally Kim's Lil's
Full transcript