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Restaurant Business Objectives

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CHAPTER I
BUSINESS DESCRIPTION AND OBJECTIVES
A.BUSINESS DESCRIPTION
The food service industry has been one of the strongest and fastest-growing sectors in the Philippine economy and will continue to rise due to the booming tourism sector of the country (Euromonitor.com, 2017). Since Filipinos are a natural foodie, this growing demand led to the expansion of the food industry specifically in restaurants.
The business idea came from an observation that there are very few restaurants which offers seafood aside from the normal chicken and pork meat. This idea grew from being just a kiosk to a fine dining restaurant which offers fresh seafood eradicating the usual frozen seafood deliveries. Seafood will be delivered alive to the restaurant and …show more content…

Lyn Fungot, Ceasar Jerome Ilustre, Elgierene Maligaya, Mark Christian Lugay and Loraine Valiente. It will be located at 4382 B. Valdez, Makati City and will cater middle to high class families and professionals residing or working within the area.

B. BUSINESS OBJECTIVES
- To be a 3 Michelin-starred seafood restaurant after five (5) years of operations that offers fresh and delectable seafood dishes within the busiest cities including those that has limited access to bodies of water.
- To gain reasonable income in the first year of operation and sound to excellent income in the succeeding years by offering new menu items every quarter.
- To retain a uniform 100% mark-up in the next five (5) years while increasing the number of units sold per year.
- To recoup its initial investment within the average span of 3-5 …show more content…

The restaurant will be owned and operated by colleagues, Ma. Lyn Fungot, Ceasar Jerome Ilustre, Elgierene Maligaya, Mark Christian Lugay and Loraine Valiente. The main reason behind this choice is because a general partnership has a tax benefit and it is easier and less expensive to organize. Based on the legal definition of the partnership according to Article 1767 of the new Civil Code of the Philippines provides that “by the contract of partnership, two or more persons bind themselves to contribute money, property, or industry, to a common fund, with the intention of dividing the profits among themselves”. The partners will agree to contribute money, properties, or industry to the partnership business. All investments of the partners will be transferred in the name of the partnership and all the partners will be co-owners of the assets of the partnership. The purpose of this partnership is to make profits and divide the same among

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