The course is divided into four sections. Section 1 is an understanding of entrepreneurship from business and personal perspectives. We discuss why the food business is so popular and, the challenges of opening and maintaining financial and personal success. It also relates the process to create and test ideas, and includes defining the market and methods to sell the product. Section 2 is the quantitative financial section – using a case study method we instill a general understanding of profit or loss and strategy for investment including industry financial benchmarks and forms of analysis. We define financial information and reporting that are unique to food businesses. It also covers analytical tools used to buy and sell a food business as well as to operate successfully. Section 3 discusses operating a food business on a day to day basis by managing the 3 systems – product/resources, revenue/sales, and people. Here we review flow of product from sources through purchase, manufacture and use. We become familiar with new industry systems and technology. We summarize labor issues, challenges, government regulations and laws current and future. We show the importance of financial and operational controls. Section 4 is the development of a business plan. Depending on class logistics it may include select or inclusive presentations.
Adjunct Assistant Professor
Stephen Zagor is a New York City based Consultant and Educator, focusing on restaurants and food businesses. He has developed an extensive knowledge of the culinary industry, specializing in the business side of food enterprises.
As a consultant Steve has provided comprehensive support to a wide variety of clients including entrepreneurs starting restaurants, food retail businesses and food products. His clients have included...