Horseshoe Shack

By: Clayton Oller and David Gunter

Six Business Activities

1. Generating Ideas: The Horseshoe starts with a great piece of crisp Texas toast holding your choice of hamburger, ham, chicken, or bacon. Then that is topped with succulent french fries top in a rich, creamy cheese sauce. Then by customers choice they can add buffalo sauce on the Horseshoe or served on the side. This is a local Springfield tradition and we decided since there was no one within 20 miles of our shack, we could produce a lot of business outside of Springfield. People would find it convenient not having to go to Springfield to get it. We know this food is a local tradition in Springfield and no where else has it, so moving it outside of Springfield will spark a lot of business with people who are always traveling to Springfield just to get it.

2. Raising Capital: 75% is our own money that we have saved over the years to put toward our business. The other 25% is a loan that we are gradually paying back as business increases to our local bank.

3. Employee and Training: David and Clayton are the chefs of the Shack, while their wives are the cashiers for the business. This is a very nice family run, and family friendly business that is very self efficient through the payroll.

4. Buying Goods and Services: We will get all of our food from our local Kroger. We are buying all of our cooking supplies such as a fryer and stove from Bunn Capital. We are getting our plastic utensils from Walmart and our to go boxes from Bunn Capital.

5. Marketing Goods and Services: We advertise through a Facebook page, Twitter page, and a commercial on the radio. We also have created a website to display our shack. This allows the customers to give feedback and comment on our business. We also update our Facebook and Twitter pages with great pictures of our horseshoes and happy workers.

6. Maintaining Business Records: We use Quick Books to track our payments and orders so we stay organized through that. Our taxes for the government are done through Turbo Tax. This allows use to put in our information and turn it in for taxes to our government. We stay as organized as possible so we have no issues with payment.


Partnership

We are a partnership because our business is owned by two people. We are both responsible for key decisions. We share investments and profits and we are both liable for debts if the business fails.


Advantages:

Two people contribute to the investment

Get enterprise form more than one person

We are both responsible for the decisions made by the both of us

Disadvantages:

No protection for personal assets

If a partner leaves or dies the partnership is dissolved

Goals

1. Expand television advertising

2. Payoff loan

3. 95% customer satisfactory rating

4. Decrease Debt

5. Add items to the menu to increase variety

Mission Statement

The Horseshoe Shack's mission is to provide a great Horseshoe for the people in our area, make it convenient for the people, and save them time and money for travel so they don't have to go far to get one.

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Intro to Business Commercial