Horseshoe pub

  • View
    133

  • Download
    0

Embed Size (px)

Text of Horseshoe pub

  • 1.Alfred PizzamentoThe Horseshoe PubJoseph Jackson Nichols CollegeManagement 100-08I have been an employee of this company since 2008.

2. Company The Horseshoe Pub was a partnership, both Aland his partner had felt that this was the easieststructure to make the most money. Pub and Restaurant / Food The Horseshoe Pub has been in business for 30years all together. About 15 years in Al partner no longer wanted the business. The Horseshoe isnow run by Al with the help of his son and daughter. 3. Background In 1983, Al and his partner Jack bought property in Hudson, Ma. They hired people to build their restaurant Als partner was very interested in horses. He had many of them that he would sell and enter into races. He received a lot of money from them, they used that money and some of Als savings to start the business Al and his partners dream was to both own their own small business one day. That dream became more of a reality when they decided to work together. Al has a degree in Management and Hospitality When the company first started it was small and bringing in just enough money. Now they have done many renovations and add-ons and the company could not be doing any better 4. Successes Als biggest success is never giving up. Hesaid when his partner quit he thought aboutwalking away until his kids stepped in. The most rewarding part Al said is being ableto see how much your business has turnedinto from when it started. It makes youappreciate the decisions you have made The Horseshoe has made severalcommercials and been featured on thePhantom Gourmet 5. Challenges The biggest challenge was getting the company going,once that happened Al felt more confident. There are stillminor challenges that occur, but we overcome them The most challenging aspect of running a business ismaking sure all of your money is in order. In the foodindustry you have to order products weekly which callsfor assertive money management Al overcomes this by hiring people who work with him onmaking sure the company is spending its moneyproperly The most fatal flaw in this type of business is underordering food. If you cant predict how much of a productyou will need for the week you could have unhappycustomers 6. Competition Two of Als closest competitors are two breakfast places at the end of the street. For a period of time the Horseshoe served breakfast, but because of these restaurants they had to stop The Horseshoe is known for their beers. We have 80 beers on draft, because of that we gain a competitive edge. The Horseshoe offers special promotions such as 15% off all guests that stay at the Holiday Inn hotel located in Hudson 7. Marketing/Staffing During Christmas time the Horseshoe setsup a booth in the local mall where theysell gift certificates, t-shirts and othermerchandise. Also with the purchase of agift certificate you receive a 15% off card Al looks for experience and background inthe restaurant business when hiring newemployees 8. Future Al plans on remodeling at the end of thisyear. His long term plan is running thebusiness until his late 60s and thenpassing it down to his son and daughter.They both have been an avid part of thebusiness for the last couple of years andwill have plenty expirence when they needto step in 9. Questions What was your biggest fear about your business at the beginning?Al feared that no one would showinterest in his restaurant. He thoughtthat he was going to fail and loose allof his money. How long was it before things started running smoothly and you made back your money? 10. Questions(continued..) Al said it took about a year for all of his finances to come into place and for everyone to get the hang of things What is your favorite part of the restaurant business? Al said the best part is being able to please the customers with good food, good atmosphere and a good time. 11. Summary Als advice for all young business studentsis to never give up on your dreams. Hesays owning your own business is a lot ofwork, you need to be very committed to it I learned that owing a business is not aneasy thing to do and requires a lot offocus. I have learned this from working forAl the past 4 years