Professional Documents
Culture Documents
Coloz restaurant
TABLE OF CONTENTS
Title:
Page no:
Business Background
Aims/Objectives of the Business
Factors Of Production
Demand & Supply
Price Elasticity of Demand
Methodology
Appendix
Business Background:
Coloz was established in February 2003 and is
located on the corner of Gatacre and Baden-Powell
street (#22).
It is owned and run by Colin Burkett along with his
wife Andrea Burkett.
Coloz started out as mostly a bar and was popular
for its karaoke nights, latin dancing and after-work
limes.
Over the years, Coloz started to develop as a
restaurant rather than a bar and is now proudly
known for its delicious local or creole foods.
Factors of Production:
Capital:
Coloz started off with an opening capital of
$30,000. And the owners continued to invest into
the business and now maintain a current capital of
$160,000.
Land:
Coloz rents their premises at a rate of $10,000. Per
month.
Labour:
A total of five (5) employees are needed to run the
business
(chef, cleaner, preparer, cashier and
bar staff)
The amount spent on wages/salaries per month
vary between $28,000 - $30,000.
Entrepreneur:
Quantity
Demanded
1010
1005
1000
990
985
Quantity
Supplied
985
990
1000
1005
1010
Quantity
Demanded
1010
1005
1000
998
Quantity
Supplied
1190
1195
1200
1205
CALLALOO
Price ($)
16
17
18
19
20
995
1210
Reference to Fig.1 :
Fish is currently sold at $45 which is also the
equilibrium point where the supply and demand for
orders of fish both meet at 1000.
S: represents quantity supplied
D: represents quantity demanded
Reference to Fig.2 :
Callaloo is currently sold at $18 and as we can see
no equilibrium point has yet arrived for the supply
and demand for callaloo.
S: represents quantity supplied
D: represents quantity demanded
Methodology:
Primary research only was used to obtain
information of Coloz restaurant.
A Direct interview was done with Mr. Colin Burkett
Appendix:
Direct questions used in interview:
How much money was invested into the
business
How many workers are employed?
What is the job of each employee?
How much money is spent on wages/
salaries in a month?
What is the cost of the land (building)?
What is the average profit/loss made in
one year?
What are the two most popular meals/side
dishes?
What would you say is the aim(s) of your
restaurant?
All other information was obtained from the
restaurants records.