BUSN380 Week 4 Assignment - Project #1 - Job Search and Personal Budget Instructions & Notes
BUSN380 Week 4 Assignment - Project #1 - Job Search and Personal Budget Instructions & Notes
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BUSN380 Week 4 Assignment Project Budget sheet Project #1 Job Search and Personal Budget Assignment In this assignment, we are going to find a job (this could be your dream job or current job) and then use the spreadsheet “Personal Budget” which is also located in Doc Sharing to fill out the spreadsheet based on your expected income and expenses. A grading rubric for Project 1 is available in doc sharing. Please submit your short paper from #5 and your complete spreadsheet “Personal Budget” from #4 into the Dropbox. Instructions: 1. Using your income from your current job or using income from a future job that you are planning on having after graduating from college, construct a budget. 2. After finding your dream job, find the monthly income/salary. 3. Use the “Personal Budget” spreadsheet from Doc sharing to enter the income from the job in #1 and then enter the rest of the details based on your personal income, expenses, spending, etc…) 4. Write a short paper (two pages max) on your job and budget which includes the following as a minimum: a. Job description. Successful caterers share similar skills and characteristics. Caterers must be organized and able to handle a fastpast work environment, while planning and executing special events (e.g. weddings, formal parties, corporate meetings, etc.). The key is being able to multitask. Excellent communication skills when dealing with the public, customers, and other vendors are necessary. This helps caterers gain more business via positive word of mouth, as do strong client and customer service skills, which help caterers gain more referrals. Knowledge about running business operations helps caterers in their everyday work environment, and being deadline oriented is a necessity since most caterers are selfemployed. Unless they are working on a contract assignment, or for a culinary enterprise, caterers must motivate themselves in order to stay in business. Managerial skills are also important for when caterers hire employees to help with additional services. Catering involves much more than delivering and serving food. Caterers have to know how to plan menus and arrange food in an eyepleasing way. They must establish good working BUSN380 Week 4 Assignment Project Budget sheet relationships with a variety of customers and know how to market their services. Caterers also need to know how and where to order highquality ingredients at the lowest possible cost. Some caterers prepare food in their own kitchens and deliver it to their customers. Others prepare food in the clients' kitchens. In either case, a caterer must be a good manager, supervising the preparation activities and ensuring prompt and efficient service. Caterers often arrange to clean up after a party or after each meal in a cafeteria. Artistry and efficiency are both important in the catering business, and sometimes knowledge of specialty foods or decor is required. Some caterers own businesses that prepare and serve food for customers. 2 Mobile caterers rent or own trucks in which they carry food to sell at busy intersections, on campus sidewalks, or near factory entrances and exits. Many states require caterers to be licensed and state inspectors visit caterers periodically to check on cleanliness and safe food handling procedures. Responsibilities vary according to the size of the company or the needs of their customers, but preparing quality food is their main concern. b. Reasons why you would like to have this job. Many people have turned their love of cooking and entertaining into a good living by starting catering businesses. Catering is a multibillion dollar industry in the U.S. and as one of the fastest growing segments of the food and beverage industry, the catering business offers great opportunities for those wanting to start a small business with a low start up cost. Employment Outlook: Good The demand for catering has increased tremendously through the years. According to the National Restaurant Association's 2008 Restaurant Industry Forecast reveals that social caterers are one of the fastestgrowing segments of the restaurant industry, with sales expected to reach $6.4 billion in sales. As impressive as the figure may be, there is great likelihood that it still underestimates the industry, as many homebased caterers are not even listed in the phone book. The increased demand for catering business is driven by the rising number of higherincome households, number of weddings and increased corporate events with companies, corporations, charities, civic groups, event organizers and individuals calling on caterers to host on and off premises events. Businesses of all sizes are using catered lunches, cocktail parties and dinner meetings to build their images and increase company sales. It is a matter of keeping up with the competition in promoting a company and/or product. Present lifestyles have also given way to increased demand for catered food service. Instead of laboring for hours, even days, in the kitchen preparing for parties or events, many homemakers now call on a caterer to provide sumptuous and unforgettable feasts for their guests. An increasing number of working mothers are paying to have catered birthday and graduation BUSN380 Week 4 Assignment Project Budget sheet parties, as well as wedding receptions handled by caterers. The reasons are simple: if she is working outside the home, today's mother just does not have the time or the energy to do all the planning and staging of a memorable party. Even the concept of eating out is slowly being changed by the business of catering: instead of going out to a restaurant to partake of a good meal, families can call on a caterer for that same great food. StartUp Costs Catering offers an opportunity for starting a food service business with a lower initial investment than opening a traditional restaurant. In the catering business, you can start as small or as big as your wallet will allow. The startup costs for a catering business will depend on what you put in your kitchen and can range from $1,000 (if you work from your own kitchen) to $80,000 (if you outfit a professional kitchen). Most caterers do the cooking onsite, either using their own facilities or equipment provided by the clients. However, you would still need to do some prepwork in your own kitchen facilities (e.g. precutting vegetables, etc.) To keep your initial costs down, you can opt to start your catering business by renting items. You may rent the use of kitchen facilities, china, utensils, tables, tablecloths and linens, serving equipment and other staples. There are plenty of vendors exist to help you pull together the perfect event — decorators, designers, event planners, florists, bakers, and rental companies for portable toilets, cooking equipment, tents, chairs, linens, tableware, glassware, and silverware. You can start buying your own equipment only when you have steady revenues. By renting equipment, facilities and supplies, you can use your first few months to build your reputation, develop some capital for investment and expansion and evaluate how much time and money you want to invest. Education and Training: Varies—onthejob training; technical or trade school; twoyear college degree in food service; fouryear college degree in family and consumer science or restaurant management. Technically there are no defined qualifications needed to work in the catering industry. However, those without culinary training, talent, or experience are often limited to positions only as dishwashers or servers. A talented chef may be able to be at the heart of a successful catering business, but often some credentials are necessary. This may include culinary school, previous chef experience or an apprenticeship. Training for a career in catering combines two disciplines: culinary arts and business. The majority of caterers find success as entrepreneurs; it is recommended that for this specific career BUSN380 Week 4 Assignment Project Budget sheet you have a strong business background through experience or education. Caterers must know the health and safety regulations of the food industry, and how to run a legal business operation. Obtaining a credential is not required for success in this industry, but it will help you earn a position with a business enterprise, and it might be a launching pad for you to start your own catering business. Most culinary arts schools offer programs that prepare caterers for the working world. There are even programs offered online that will help individuals earn catering credentials. Successful caterers are trained to understand the culinary world like a chef, but with the business savvy of an entrepreneur. c. Salary. The career and salary outlook for catering is nothing but positive. According to the Bureau of Labor Statistics, the food and beverage industry will see a job growth of 14.2 percent by 2016. This influx of jobs is due to recent findings that the majority of the general population is dining out more often for lunch and dinner. Additionally, catering occupations are expected to grow 5 percent by 2016, according to the Bureau of Labor Statistics. In the catering industry, you can expect to earn an average chef salary of $35,000 to $75,000 per year. The extreme low catering salary is around $22,000 while the high salary for an urban caterer with a high profile and elite clientele can reach $200,000. Assistant cooks make around $22,000 while food preparers also earn in this region This all depends on the type of catering business, the areas you operate in, the clients you market towards, and the size of the catering company. The executive chef earns about $45,000 per year, while the sous chef makes about $35,000. Is a $100,000 Yearly Profit Possible in Catering? It is possible to make a lot of money in the catering business if you put in the effort. Reaching a level of earnings that will allow you to make a 'six figure' salary from your catering business is entirely possible within your first two years in business. A quick survey of successful caterers across the nation shows that began with zero capital by working out of their homes. The basic starting up investment would appear to be around $500, with some big spenders capitalizing their idea with as much as $15,000 in order to get off to a fast start. Many claim that profits in the catering business are the best in the food and beverage industry. An indemand caterer in a large metropolitan area can easily gross upwards of $200,000 per year, while a small parttime caterer in a small town can count on at least $50,000 per year. BUSN380 Week 4 Assignment Project Budget sheet To cut down costs, you can employ several strategies to help keep your bottom line richer. You can use your house as your office, hiring employees and renting a kitchen in a nearby restaurant only on days you have catering events. With its seasonal nature, catering usually does not require a large number of yearround employees. Discuss and explain how this dream job will or will not help you achieve your personal goals based on the outcome of your budget. Tips for Getting to the 'Six Figure' Level 1) Forget catering from your home kitchen if you want to get to this salary level. Business savvy caterers do volumes that require them to rent commercial kitchen space by the hour, arrange access to restaurant kitchens during offhours, or focus on 'onpremises' jobs only and use the kitchens of their clients. 2) Successful players love spending time creating menus, following food trends and interacting with people without neglecting the business side of catering. 3) Start to create a powerful brand right from the start with your logo, company values and unique service that will grow into a valuable asset that allows you to command a premium price for your catering services in the market. 4) Develop systems for every part of your business to streamline daytoday operations. Analyze the way that you and your staff work and strive to increase productivity. 5) Understand that there are 'niche' markets within the catering industry that you would never think of until you really start looking. Top caterers find these untapped opportunities, and carve out a business catering to the specific needs of these groups. 6) Perfect the process of consulting with new clients and learn how to politely upsell them on some of your more expensive offerings. 7) Realize that you are leaving money on the table if you don't also upsell additional event related services to your customers. 8) Learn how to hire, train, and organize a small team to assist you with food preparation, delivery, service, and even sales if you want a realistic chance of getting to an income level above $100,000. BUSN380 Week 4 Assignment Project Budget sheet 9) Don't neglect traditional advertising methods but also pursue other modern marketing methods such as networking, cross promotions and guerilla marketing. 10) Successful caterers also recognize the importance of customer referrals. Customers may introduce friends to you because they like your food and services but there are also other ways to get them talking about your company. To get started on the right track, do as much reading as you can about general small business management and the catering business specifically. Many highly successful caterers have published start up guides, you have a chance to learn from their mistakes instead of making your own, and you can benefit from their expert advice and insider tips. Average Caterer salaries for job postings in New York, NY are 21% higher than average Caterer salaries for job postings nationwide. Table 1. Employment of wage and salary workers in food services and drinking places, 2008 and projected change, 20082018. (Employment in thousands) Percent Occupation Change, Employment, 2008 200818 Number Percent BUSN380 Week 4 Assignment Project Budget sheet All Occupations 9,631.9 100.0 7.7 Management, business, and financial occupations 233.3 2.4 2.8 Service occupations 8,789.6 91.3 8.4 Chefs and head cooks 67.8 0.7 2.9 Cooks, fast food 528.0 5.5 7.8 Cooks, institution and cafeteria 52.7 0.6 16.5 Cooks, restaurant 788.4 8.2 7.4 Cooks, short order 128.2 1.3 1.4 Food preparation workers 456.6 4.7 2.2 Bartenders 373.3 3.9 6.2 Combined food preparation and serving workers, 2,197.7 22.8 14.6 including fast food Counter attendants, cafeteria, food concession, and coffee shop 345.9 3.6 9.3 Waiters and waitresses 2,046.6 21.3 6.0 Dishwashers 417.4 4.3 12.7 Hosts and hostesses, restaurant, lounge, and coffee shop 316.9 3.3 7.5 Sales and related occupations 277.8 2.9 0.2 Transportation and material moving occupations 1.9 1.9 186.2 NOTE: Columns may not add to totals due to omission of occupations with small employment. SOURCE: BLS National Employment Matrix, 200818. BUSN380 Week 4 Assignment Project Budget sheet http://www.StartaCateringCompany.com http://www.restaurant.org/pressroom/pressrelease/?id=1535 The Average Salary of Catering Staff | eHow.com http://www.ehow.com/info_7758320_averagesalarycateringstaff.html#ixzz1HCZZmg3J Caterer Job Description, Career as a Caterer, Salary, Employment Definition and Nature of the Work, Education and Training Requirements, Getting the Job http://careers.stateuniversity.com/pages/528/Caterer.html#ixzz1HAv6fYhD http://www.guidetoculinaryschools.com/careers/catering#ixzz1HCfuyjQ9 http://www.guidetoculinaryschools.com/careers/catering#ixzz1HCgtICko http://www.powerhomebiz.com/vol25/catering.htm http://www.allculinaryschools.com/culinarycareers/guide/catering/cateringjob
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