1. Business Entrepreneur Project Restaurant Business PlanLesson by Mrs. Erin Nasser

2. 7 th Grade Civics Standards SS.7.E.1.3 - Explain how the principles of a market and mixed economy helped to develop the United States into a democratic nation. SS.7.E.1.2 - Discuss the importance of borrowing and lending in the United States, the government's role in controlling financial institutions, and list the advantages and disadvantages of using credit. SS.7.E.1.3 - Review the concepts of supply and demand, choice, scarcity, and opportunity cost as they relate to the development of the mixed market economy in the United States. SS.7.E.1.4 - Discuss the function of financial institutions in the development of a market economy. SS.7.E.1.5 - Assess how profits, incentives, and competition motivate individuals, households, and businesses in a free market economy. SS.7.E.2.3 - Identify and describe United States laws and regulations adopted to promote economic competition. SS.7.E.2.4 - Identify entrepreneurs from various gender, social, and ethnic backgrounds who started a business seeking to make a profit. SS.7.E.2.5 – Explain how economic institutions impact national economy.

3. Importance of Entrepreneurship The entrepreneur develops a business plan, acquires the human and other required resources, and is fully responsible for its success or failure. Entrepreneurship is a key driver of our economy. Wealth and a high majority of jobs are created by small businesses started by entrepreneurially minded individuals, many of whom go on to create big businesses. People exposed to entrepreneurship frequently express that they have more opportunity to exercise creative freedoms, higher self esteem, and an overall greater sense of control over their own lives. As a result, many experienced business people political leaders, economists, and educators believe that fostering a robust entrepreneurial culture will maximize individual and collective economic and social success on a local, national, and global scale. http://www.entre-ed.org/Standards_Toolkit/importance.htm

4. Design a Restaurant Congratulations! You and your business partners have decided to open a new restaurant! Select a business team of 4 people who share the same vision for your business!

5. Creative Business Meeting Step 4 Select Job Title Step 3 Discuss Menu Items Step 2 Create Name & Logo Step 1 Discuss Theme What type of restaurant will you be opening? Fine Dining Casual Dining Ethnic Food Fast Food Bakery Location – In the United States How will people be able to recognize your business? Unique Name Eye Catching Logo & Slogan What will be served? Sample Food must be edible Sample Food must be easily served in classroom Menu items can vary Create Employee Positions Owner, Chief Financial Officer, Marketing Director, & Human Resource Director, Front House Manager.

6. Specialization of Jobs All Business Partners will be required to contribute an item for the Grand Opening! Owner  Importance of Small Business Owners  Location Description and Local Laws  Market & Mixed Economy Description  Anti-Trust Laws  Store Design Description and Photos Chief Financial Officer  Job Description for CFO  Loans/Interest Rates Explanation  Supply & Demand Description  Scarcity & Opportunity Cost  Menu Items and Prices Marketing Director  Local Competition and Competitive Strategies  Target Consumer Group Description  Consumers & Profit Explanation  Advertisement Print  Commercial Script to video or act out Human Resource Manager  U.S. Department of Labor Fair Labor Standards Act Explanation  Minimum Wage for the Business’ state explained  Income Tax  Social Security & Medicare Tax Description  Hiring Sign and Interview questions Front House Manager (If there’s a 5 th member take the following tasks from each group member)  Store Design Description and Photos  Menu Items and Prices  Commercial Script to video or act out  Hiring Sign and Interview questions

7. Owner Responsiblities Importance of small business owners Location Description and Local Rental Rates United States Anti-Trust Laws Mixed Market Economy Explanation Store Description and Photos 1. Describe the importance of small business owners. http://2012books.lardbucket.org/books/an-introduction-to- business-v2.0/s09-02-the-importance-of-small-busine.html 2. Choose a City and State for your business within the United States. Consider the Following and present a typed plan including the elements below. https://www.sba.gov/content/tips- choosing-business-locationhttps://www.sba.gov/content/tips- choosing-business-location Brand Image – How is the location consistent with the image you want to maintain? Rental Costs in location 2. United States Anti-Trust Laws Summary– Describe the laws are in place to promote and protect competitive business. https://www.ftc.gov/tips-advice/competition-guidance/guide- antitrust-laws/antitrust-laws https://www.ftc.gov/tips-advice/competition-guidance/guide- antitrust-laws/antitrust-laws 3. Explain how the principles of a market and mixed economy helped to develop the United States into a democratic nation. http://www.socialstudieshelp.com/economic_systems.htm http://www.socialstudieshelp.com/economic_systems.htm 4. Store Description (What type of restaurant has your team come up with). Describe your concept and find photos of restaurants that would likely inspire how you design your restaurant.

9. Chief Financial Officer Responsibilities Job Description Loans/Interest Rates Explanation Supply & Demand Description Scarcity & Opportunity Cost Menu Items and Prices 1. Brief Description of the purpose and what the responsibilities are of a CFO. 2. Explain of how loans and interest rates impact business. https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan- programs https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan- programs 3. Explain the concept of supply and demand and how it effects business production. http://www.investopedia.com/university/economics/economics3.asp http://www.investopedia.com/university/economics/economics3.asp 4. Describe how scarcity and opportunity cost effect business. https://www.youtube.com/watch?v=-bG_mp8cAAw https://www.youtube.com/watch?v=-bG_mp8cAAw 5. Menu Creation Using a computer, create a menu for your restaurant. It must include section headings, a description of the dish, and the cost of the dish. See example below: Think about the following questions when putting together your menu items: Will you have daily specials? Will you offer a different soup on different days? Will you have an up charge for added cheese on a burger? Fries? Will you offer free refills on fountain beverages? Will you serve breakfast items all day? Will you have combo- meals? Do certain dishes come with soup or salad? Fries? Chips & Pickle? Will you have a separate Children’s menu or add it to the original? Don’t forget pictures of the food items to entice your diners! Create on computer, print, and add to science board.

11. Marketing Director Responsibilities Local Competition and Competitive Strategies Target Market Description Consumers & Profit Explanation Advertisement Print Commercial Script to video or act out 1. Competition – Are the businesses around you complementary or competing? List at least 3 competitors in the area your restaurant will be located. How will you make your business more competitive? http://www.infoentrepreneurs.org/en/guides/understand-your- competitors/ 2. Describing your target market will help you create advertisements to promote your business. Write a target consumer description summary http://www.marketingdonut.co.uk/marketing/marketing- strategy/your-target-market/six-steps-to-defining-your-target-markethttp://www.marketingdonut.co.uk/marketing/marketing- strategy/your-target-market/six-steps-to-defining-your-target-market What type of people will you restaurant appeal too? What age group would most likely eat the type of food you serve? What types of advertisement would most appeal to this target consumer group? What forms of social media would you use to advertise and promote your business? 3. Explanation of how consumers, producers and the market work to promote the economy of the United States. 4. Create an ad that describes your restaurant while playing to your target consumer. Work in the slogan and logo created with your business group. 5. Create a Script for a 30 sec commercial that you and your business partners will perform for the class to promote your new restaurant. https://www.youtube.com/watch?v=xAZzJpe6EQo

13. Human Resource Director United States Employment Laws Minimum Wage Income, Social Security, and Medicare Tax Descriptions Interview Q & A Hiring Sign 1. Write a summary focusing on Employment Laws in the United States. Make sure to provide resources for your work. http://www.dol.gov/opa/aboutdol/lawsprog.htm http://www.dol.gov/opa/aboutdol/lawsprog.htm 2. Describe what income tax is and how it affects workers. https://www.irs.gov/pub/irs- pdf/p2105.pdfhttps://www.irs.gov/pub/irs- pdf/p2105.pdf 3. Describe what Social Security and Medicare tax are and how they affect workers. https://www.irs.gov/Individuals/International- Taxpayers/Social-Security-Tax---Medicare- Tax-and-Self-Employment https://www.irs.gov/Individuals/International- Taxpayers/Social-Security-Tax---Medicare- Tax-and-Self-Employment 4. Create 10 interview questions and sample answers that meet the goals of your business. Be sure to ask questions to find out if an employee candidate has the requirements to fulfill the position they are applying for. https://www.livecareer.com/interview- tips/industry/restaurant https://www.livecareer.com/interview- tips/industry/restaurant 5. Create a Hiring Sign that list some of the requirements for the job in a creative way.

15. Manager Responsibilities (If there’s a 5 th member take the following tasks from each group member) Store Design Description and Photos Menu Items and Prices Commercial Script to video or act out Interview questions and answers If there is a 5 th member of your group you will take one job task from each of the other positions. 1. Store Description (What type of restaurant has your team come up with). Describe your concept and find photos of restaurants that would likely inspire how you design your restaurant. 2. Menu with Item prices: Using a computer, create a menu for your restaurant. It must include section headings, a description of the dish, and the cost of the dish. See example below: Think about the following sample questions when putting together your menu items: Will you have daily specials? Will you have an up charge for added cheese on a burger? Fries? Will you offer free refills on fountain beverages? Will you serve breakfast items all day? Will you have combo- meals? Will there be a kids menu? 3. Create a Script for a 30 sec commercial that you and your business partners will perform for the class to promote your new restaurant. https://www.youtube.com/watch?v=xAZzJpe6EQo 4. Create 10 interview questions and sample answers that meet the goals of your business. Be sure to ask questions to find out if an employee candidate has the requirements to fulfill the position they are applying for. https://www.livecareer.com/interview- tips/industry/restauranthttps://www.livecareer.com/interview- tips/industry/restaurant

16. Science Board Display Template Menu with Images Marketing Ad/ Facebook Page Target Market United States Competitive Laws Location & Competitors Including Images of your location and restaurant

17. DUE DATES Class research and business meeting will occur on May 18 th (A) & May 19 th (B) Science Board & Decorative supplies due May 23 th (A) & May 20 th (B) Parent Permission Slips to Participate due by May 24 th. Typed Job tasks Descriptions are due by May 23 th (A) & May 24 th (B) Construction of display will be ongoing May 19 th –May 31 st in class Grand Opening will be Wednesday, June 1 st (B) & Thursday, June 2 nd (A) All sample food & Supplies must be dropped off the morning of the grand opening to room 311.

18. GRAND OPENING! Wednesday, June 1 st, 2016 and Thursday, June 2 nd, 2016 Room 311 Items may be dropped off in the morning. (Be sure to label your name and period)