How would you create an operational plan? Discuss the seven steps of operational planning.
What will be an ideal response?
Royalty fees cover
A) reservation fees B) pensions fees
C) pre-operating costs D) inspections and market research
The rate of return on an investment is also called its internal rate of return.
Indicate whether the statement is true or false
The average guest check is calculate by
A) dividing total sales by the number of tables used during a meal period
B) dividing total sales by the number of guests
C) weekly sales divided by the forecasted sales
D) food sales divided by the number of entrees sold in a period
Which of the following is typically most important in a family style restaurant?
A) The dining experience B) Availability of comfort foods
C) Availability of alcoholic beverages D) Restaurant theme
Which of the following are potential entrepreneurial risks?
A) Personal risks
B) Career risks
C) Financial risks
D) A and B above
E) All the above
Which is not a factor in whether the personal selling tactic is used on a customer?
A) How close the meeting date is to the present day
B) How much the customer is paying for the goods or services
C) Targeted source of revenue
D) Quantities of goods or services that the customer is buying
A hotel franchisor charges the higher of either 50,000 or 500 per room as the initial fee to franchisees. A franchisee signs a contract to build 200 rooms. The initial fee will be ________.
A) 100,000 B) -0- C) 50,000 D) none of the above
The table of future value factors for an annuity assumes that the first cash flow of the annuity occurs at the beginning of the first period.
Indicate whether the statement is true or false
Curbside appeal includes
A) the speed of service
B) a well equipped kitchen
C) the appearance of the property from the parking lot to the restrooms
D) the style of the menu
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