Description of Business
Modeled by the mission statement: “If Lucky’s about anything, it’s about the pleasure of enjoying good food. The way we see it, the simple pleasures in life almost always turn out to be the best.”
The name of the business is Lucky’s Café. It is a sole trader business which is solely run by Anna-Kay Smith. Lucky’s Café will introduce you to all of life’s pleasure in just one cup of coffee. It will be located in the heart of Kingston. The business will cater for business personnels who are either late for work or want a quick lunch. The café offers a comfortable air and a homely environ for adults.
Role of the Entrepreneur
The role of the entrepreneur includes planning, accessing of funds, conceptualizing, organizing, operating and evaluating. As the entrepreneur, Ms. Smith will ensure that the business operates immaculately and ensure that all businesses are dealt with impartially. Therefore, Ms. Smith will:
1. Interview and advertise for job openings so that the business will obtain the wanted and required labor force.
2. Access funds for the start-up and the development of the business so as to maintain a well-capable and operating business.
3. Order goods to enable production.
Use of Technology
In order to produce quality coffee and to ensure a good operation of the café, Lucky’s Café will need well-capable technological equipment. A computer will be used to store names of customers, stock numbers and stock types. It will also be used to keep permanent accounting files for the business. Additionally, a cash register will be used to monitor monetary business transactions daily so as to keep track of all Lucky’s Café’s monetary exchange between customers and providers.
Potential for growth
The entrepreneur expects to be making a profit of thirty to fifty percent (30%-50%) within the first five years of the business. A greater demand for Lucky’s Café coffee on the local market is...