| Operations Plan | Possible Points | Earned Points | Due in Week 5: Instructions for Completing Plan | Instructor Comments |
| Day-to-day operations | 10 | | Describe how your business will “operate.” If you make a product, describe the production. If you offer a service, describe each step of that service. If you are a retailer, location, product mix, and suppliers are important. Think through your business' daily operation and explain it in detail. Then, think about who, what, and how each of those steps will happen. Realistically, how much of this can one person do? Strategically, how will you plan for growth? | You have several sections that provide a general overview of the daily tasks. You'll need to break this down into smaller tasks and reflect which role does what at the restaurant. Remember that investors want to know that you have a realistic concept of how the business operates on a daily basis. So create a table or a flow chart that shows what happens from the time the restaurant opens until it's closed at night. This will include tasks such as opening the restaurant, ensuring cash drawers are ready, ensuring food is prepared and ready, actually processeing customers, restocking food, tallying the day's receipts, cleaning, reordering inventory, etc. You get the idea. |
| Human resources | 5 | | Plan and cost your people requirements. Key managers: What is required, and how do you pay them? Staff: plan for each year, including costs and benefits (what will be offered and how much does it cost?). | Good job detailing the staffing for the restaurant. You've also detailed the primary tasks for each role. Include discussion of the salaries and benefits for each category of role you plan to hire. |
| Facilities and equipment plan | 10 | | Describe and cost your capital assets, such as production lines, office equipment, and buildings. If you plan to have a physical location, include a floor plan if possible. Address your build-out strategy. Are you leasing a location that meets your specs (fairly unusual); if not, include a build-out plan with high-level milestones, dates, and costs. What are your startup timelines? Expansion timelines? | I don't see this section included. Discuss your actual location and provide a floor plan. What renovations are required, what will those cost, and what are the milestones for getting the work permitted and completed in time to open the business? What equipment do you need such as tables, chairs, flatware, plates, cooking equipment, front desk, refrigerators, ovens, pots and pans, grill, exhaust hood, etc. This all has to be detailed out with the cost of the items. |
| Technology plan | 5 | | Describe your company's IT needs and how much they will cost and how you will implement. Will you have a web presence, and if so, what type of functionality will it include? If you need a particular software program, explain its function. Will you need licenses for each employee? Will you handle your IT requirements with "in-house" or outsource to IT consultants—explain your decision. | This section is not included. Detail out the computers, POS equipment, what you'll use for Internet connectivity, phones, software licenses, etc. Indicate who is setting up and maintaining the restaurant's technology equipment. |
| Management Team | 5 | | Describe the professional experience of your company founders with brief bios. How will founder experience help the company succeed? What management roles will the founders hold? (Examples include President, Director of Operations, Marketing Director, etc.) You may fund salaries for founders if they are performing operational activities, such as an onsite manager, but do not otherwise build in salaries for your team. Your team's compensation should be in the form of draws or distributions out of profits that do not need to be reinvested into your company. | Present your management team here. Generally this is composed of the founders (you). Discuss what role each founder will play in the business. Include a brief bio of each founder and discuss why their experience and education prepares them for their role in the business. |
| Organization chart | 5 | | An organization chart depicts the company's structure. How many vice presidents will you have, or how will your company organize its departments? An organizational chart diagram is required for full credit. | The organization chart is included relative to restaurant staffing but you need to add the roles that the founders will play in the business on to this org chart. |
| Management team gaps | 5 | | Investors appreciate a responsible and reasonable plan. In this section, describe areas where your management team is weak or in need of assistance; and how you plan to address those gaps. | This section is not included. After you complete the Management Team section above discuss what experience/knowledge gaps the founders have relative to running this business. Then indicate how you will mitigate those gaps/risks - will you hire consultants or do something else to cover the gap? |
| Operations Plan Totals | 45 | 0 | This section describes how you will run the business. You will demonstrate how you make your product or execute your service. You will describe and cost your facilities. Lastly, you will plan your human capital resources. | Hi Team 5 - This Ops Plan contains a little more info that the prior weeks. The items that are incomplete or need further detail are noted in blue above. The items that are missing and must still be created for your final plan are in red. |
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OperationsPlanfeedback.xlsx
