To expand my existing hot dog, stand business.
To whom it may be concern,
In reference to the above subject, I run a hot dog cart at Easton University. I have been doing this business for about five years, and now I have plans to expand this further and take it to new heights. Right now, I am dealing in Non-Veg hot dogs and stuff and would like to enter into vegetarian and vegan market as well. I am in talks with the local vendor at University for a partnership. We would also look to run multiple carts in the near future in partnership with vendors at various hot locations. We are planning to run this business throughout night as lot of university students take classes at night & Franks’ eatery would be hot place there. I plan to introduce beverages and soft drinks along with the hot dogs and special offers on the combo packs. During the day time, it would attract customers from local school, offices, shops and other folks. Apart from initial investment in the carts, stands and supplies, there is not much of capital outflow in the long run. We would endeavor to leave customers spell bounded with the mouthwatering and delicious plates. Their taste buds would get an experience of life time to remember. Our business would be a cash run business and there would be no bad/doubtful debts. Based on our past experience and future business viability, we can assure to repay the financial loan well within the timelines. Below excerpts from projected financial statements would second our opinion.
Projected Annual Sales: $ 18, 000, 000 (250 hot dogs @ 20 per hot dog for 30 days a month & a year)
Supplies: $ 15, 220,700
Net Income: $ 2,700,00
Detailed financial statements are enclosed herewith for your kind consideration. We would be more than happy to provide any additional information in this regard.
Looking for a long term partnership and business.
Frank’s Hot Dogs
Fast forward a few months.Your friend asks you how your business is doing and you are unsure how exactly to answer. In fact, you are not necessarily sure how your business is going since you are so new to this! This part of the project will help you to organize your thoughts and come up with a more formalized process for financial reporting and demonstrate your success (or lack thereof!).
Determine a way to determine profit and financial position for your hot dog business. Expand your Excel spreadsheet from Part 1 of the hot dog project by adding an additional tab in the excel workbook. There is no specific format for this. Data should be reasonable based on your projections from Part 1 and include all expenses. Your grade is not dependent on whether you are making a profit.
Use the momentum from the discussion forums from Week 6 and Week 7 where we collectively brainstormed methods of (a) if the business was profitable and (b) how to measure profitability in a professional format.
Include a narrative summarizing your findings in a professional manner.
This part of the project should be approximately 2 – 4 pages including the financial statements.