Acc 220

Business Plan

Duane Lundberg

University of Phoenix

Business Plan

The name that I chose for the business is Boomba’s Place. After careful consideration and hours of trying to come up with a name for the business I chose a name that meant something to me.

The type of business that my business will start out as is a sole proprietorship. The reason that I have chosen this business structure is because I feel that with a little time I can build my business into a corporation. Every corporation had to start somewhere and most of them were owned by a single person before they got the backing to become a corporation.

The service that I plan to provide is a restaurant and night club. For the restaurant I plan on making a verity of different types of food. Instead of just focusing on American food I would like to incorporate food that comes from all over the world. The night club will be for adults and on occasion for teenagers. The service that the night club will provide is a place to relax after work and have fun. I plan on have local bands play on certain days of the week and schedule comedy on the weekends.

The accounting department will play a crucial role in the start up of the business. The accounting department will be responsible for making sure that we have the finances to start the business. After we establish where the financing for the business is coming from, they will determine what equipment and products that we will need to start the business. Then we will hire a team with some experience in bartending and cooking that will help to operate the business, once that has been taken care of the accounting department will be responsible for accounts payable, accounts receivable, and payroll.

The characteristics that I will look for when I hire my accounting staff is what their knowledge of accounting is. I will look for at least two people that have at least two years of experience in accounting. They will also have to have knowledge with the...