Entrepreneur " Restaurant Owner"
ABSTRACT
This Career Research paper: Entrepreneurs’ purpose is to gain more information about restaurant owner. And to have more idea on how to manage your restaurant. This was also created for me to produce my own research document.
To accomplish this Research Paper, You need to Research through a valid site, and survey were you need to survey a real restaurant owner. This Research Paper helps me to pursue my dream career which is a restaurant owner. This Research Paper contains informations, facts and opinions which I got through online valid sources and survey which was made through google forms.
INTRODUCTION
Growing up. I wanted to become a teacher. When i was a kid, I like computing grades like what teachers doing. I remember i will always buy an extra notebook then i put my imaginary student's name with their grades then i will compute their averages. But in my secondary level (High School) I discover my creativity skills because on what were doing in my secondary level, we need to put some design in our portfolio even our activity sheet., because of that my skills in art is improve. I wanted a career that related in arts.
I think that its natural to have shifting or changing career goals while growing up. Because growing, we get exposed to different experiences, so our preferences change. Now that I'm here at Junior College Program, I have additional 2 years to decide on what career path I will take, and Iḿ taking into consideration of several factors to become an entrepreneur which is my skills, my talents, and what is my hobbies.
Junior College Program is a ABM or Accountancy and Business Management course, I choose to become Entrepreneur as my career path because JCP influence to be an Entrepreneur through teaching us on how we manage our business. And because i want to manage my restaurant and i can apply my creative skills when i have my own restaurant i can decorate my own restaurant.
SCOPE AND LIMITATIONS
The Purpose of this Research Paper is to give an additional information and opinion about being a Restaurant Owner. It will cover general information on the job, such as how much money do they earn and how much money do they need to create an restaurant.
I gathered data from various online sources such as FindUniversity.ph and Entrepreneur.com.ph and i also looked at LinkedIn.com which is a business oriented social networking network. I also surveyed an Restaurant Owner, to get more opinion about being a restaurant owner.
The data was gathered in the year 2016. Some information covers the year 2012 to 2014. This paper covers being a Restaurant Owner in the Philippines.
Only Restaurant Owner will be discussed in this Research Paper. It will not discuss
other business (e.g. Business Resort ). This Research Paper provides details and data on being an Restaurant Owner.
All of the people who wants to have their Restaurant will be benefit from this Research paper. This will help them to discover and to try to build their own business. This will also help them to create their restaurant easily.
REVIEW OF RELATED LITERATURE
Upon doing my Preliminary research. I check google if there any research paper about Restaurant Owner. I found out that there are no published research paper about being a Restaurant Owner.
EDUCATION
The Bachelor of Science in Entrepreneurship is a four-year degree program which centers on how to start and manage a business by combining management, accounting, finance, and marketing principles. This program is designed in order to equip students with the necessary knowledge and skills in identifying business opportunities, business planning, financing, company valuation, and business management. (“BS in Entrepreneurship in the Philippines”)
Some of the subjects taught in this course are the following:
Principles of Management
Management Accounting
Production and Operations Management
Business Plan
Business Plan Implementation
Business Mathematics
Business Opportunities
Business Communications
Finance
Marketing
Financial Accounting
Cost Accounting
Taxation
Business Law
Business Policy
Based on the Research the best school to take an Entrepreneur Course is the following:
DE LA SALLE UNIVERSITY De La Salle University’s Business Management Department believes that the people's’ entrepreneurial spirit “is the backbone of any economy.” So in 1983, DLSU-Taft started offering the Bachelor of Science in Commerce with specialization in Entrepreneurship -23 years before the Commission on Higher Education mandated it’s offering in 2005. It also opened the Master in Science in Entrepreneurship program aims to develop entrepreneurs, who are “motivated and knowledgeable in identifying opportunities, preparing business plans and actually starting and managing a business with global perspective and a Filipino heart.” Students are required to set up and operate an actual company for at least one year before graduating. An Entrepreneurship Student who belongs to the College of Business and Economics pays an average tuition of P2, 080 per unit on trimestral basis. The school boasts of a balanced roster of academicians, practitioners and entrepreneurs on its faculty, and graduates such as Tony Tiu, founder of AgriNurture, Inc. (ANI), who was nominated in the Ernst and Young Search for the Entrepreneur of the Year award. “More than the technical competence that our entrepreneurship curriculum provides, we ensure that we attain our vision of an ideal Lasallian entrepreneurship graduate in both the undergraduate and masteral levels as an individual who understands and appreciates his or her competencies and interest, as well as recognizes opportunities for viable business ventures and enterprises,” stresses La Salle’s Business Management Department Chair Emie Sarreal.
What makes DLSU’s program different: seeks to develop entrepreneurs “with global perspective and a Filipino heart.”
ATENEO DE MANILA UNIVERSITY
Finding innovative ways of solving social problems is clearly defined in the core vision and mission of Ateneo de Manila University (ADMU). It’s why in January 2007, the Jesuit University began offering social entrepreneurship classes and programs, where students can earn a certificate program for a period of four months for a tuition of approximately P17, 000.
“We offer not only training in terms of setting up or running a business but, more importantly, establishing enterprise with a social purpose,” says Harvey Keh, Ateneo School of Government director for youth leadership and social entrepreneurship.
For three years, around 30 percent of its graduates have already gone into full-time entrepreneurship, says Keh, among them the founders of Rags2Riches and Fundacion Pacita, an eco-tourism social enterprise based in province of Batanes. They cite their mentors from the Ateneo’s experienced faculty including Keh, Atty. Arnel Casanova, Dr. Antonio La Vina and Prof. Lisa Dacanay. “We are the only one in the country that teaches entrepreneurship in a different way such that the main purpose is not just to earn money, but more importantly, to help in nation-building and solving social problems,” Keh says. “Hence, those who might want to take up entrepreneurship courses should enroll now in our school.”
What makes ADMU’s program different: Seeks to establish businesses “with a social purpose.”
ASIAN INSTITUTE OF MANAGEMENT
The Asian Institute of Management "AIM" is an international management school. It is one of the few business schools in Asia to be internationally accredited with the AACSB
Like their bigger counterparts, micro, small and medium entrepreneurs also need to achieve higher professionalism, business growth and social relevance. To fill that void, the Asian Institute of Management (AIM), through the Asian Center for Entrepreneurship (ACE), began offering Entrepreneurship courses in 1996. Later on, the Executive Education and Lifelong Learning Center (EXCELL) continued what ACE started. It then opened the Master in Entrepreneurship (ME) course in July 1999 and, more recently, the Entrepreneurial MBA (EMBA) through a combination of ‘blended learning” and face-to-face sessions.
Accredited by the Association to Advance Collegiate Schools of Business (AACSB) International, AIM’s Entrepreneurial degree programs “are specifically designed to create superior growth, profit and stability for firms; enable participants to lead their organization through the complexity that comes with growth; and help them develop new vision, values and skills to realize their own and their firms’ full potential,” according to the school’s mission.
To date, the Makati-based institution has already produced over 37,000 alumni from more than 70 countries since its inception came from the ME and EXCEL programs in 2008. Former Education Secretary Jesli Lapus, Jollibee Foods Corp. president and chief executive Tony Tan Caktiong and SMART Communications Inc. and PLDT president and CEO Napoleon Nazareno are among its successful alumni.
“These are just few of the famous names in the business community listed in our prestigious and active international alumni community. Thanks to our sincere provision of a broad strategic management education that can tear down obstacles to business growth and longevity,” says Mae Poblador, marketing associate of AIM-EXCEL. What makes AIM different: “Broad strategic management education that can tear down obstacles to business growth and longevity.”
SAN BEDA COLLEGE Realizing the pivotal role of entrepreneurship in nation building and social change, San Beda College (SBC) integrated entrepreneurship courses to its business management program in the early 1990s. From 1998 onward, the courses evolved into a two-pronged program called BCS Business Management and Entrepreneurship.In 2001, it was rejuvenated and renamed BS International Business and Entrepreneurial Management (IBEM). Today, the entrepreneurship side of the BS IBEM course is separated from business management and dubbed simply BS Entrepreneurship. San Beda’s entrepreneurship degree is only offered in the undergraduate level at tuition of roughly P52,000 per semester. Once enrolled, entrepreneurship students are given the opportunity to become members of YES (Young Entrepreneurs Society) National and Junior People Management Association of the Philippines. Through SBC’s partnership with Robinson’s Corp., they could also take advantage of the Entrep Corner at Robinson’s Galleria to help enhance their entrepreneurial skills. What’s more, the faculty of San Beda’s Department of Business Management and Entrepreneurship are all master’s degree holders. Among SBC’s Entrepreneurship graduates is Euclid Cezar, who is the owner of Ink More. “With the strengths of our entrepreneurship program, San Beda has been cited by the Philippine Center for Entrepreneurship (Go Negosyo) headed by Joey Concepcion as ‘Youth Entrepreneurship Enabler in 2009’,” says Fr. Anselm Manalastas OSB, dean of the College of Arts and Sciences. “Our school has also been featured in Entrepreneur Magazine three times with regards to our curriculum.” What makes SBC’s program different: Has been cited as a “Youth Entrepreneurship Enabler."
UNIVERSITY OF ASIA AND THE PACIFIC
Renowned economists Dr. Bernardo Villegas and Fernan Victor Lukban helped institute the entrepreneurship program at the University Of Asia and the Pacific (UA&P). It started when UA&P College of Arts and Sciences offered the Bachelor of Arts in Humanities with a special certificate in Entrepreneurial Management Program (ABH_EM) from 1989-1998. During the school year 1998-1999, the ABH-EM evolved into the Bachelor of Science in Entrepreneurial Management Program (BSEM). “The Philippines needs more entrepreneurs. The EM Program was envisioned to address the lack of orientation of Filipinos towards entrepreneurship.” Dr. Villegas says. “If we start with our intervention early enough, (students) can be god entrepreneurs.” The EM Program is a four-year, three-summer bachelor’s degree program. What makes it cutting edge is its New Business Venture (NBV) Series, a 21-unit core course on business, management and entrepreneurship, which runs across two years and two summers. Students are challenged in NBV to integrate all their knowledge, skills and talent, and use these in establishing a successful business. Since the EM curriculum demands a three-fold blend of classroom instruction, mentoring intervention and experiential (field) learning, EM program director Ellen Soriano ensures that all UA&P faculty members are flexible and well grounded on various teaching and learning technologies. She says the program has produced 277 graduates since 2001. Approximately two-thirds are into business – 30 percent are running or expanding their respective family businesses and 37 percent either started their own business or continued with their existing businesses, “which they successfully put up as a student in compliance with the requirement in their NBV course,” Soriano adds. Successful businesses established or led by some UA&P graduates are SOLEREX Water Technologies, Inc. (Crystal Clear Purified Drinking Water) and Goodah! Of Che Soler; Victory Liner group of Companies (Jose Marco Del Pilar); Nueva Foods Corp. (Anthony Ng); and Systems Technology Institute (STI), Comm & Sense Inc. and Reyes BBQ through Joseph Tanco. What makes UA&P program stand out: “Envisioned to address the lack of orientation of Filipinos towards entrepreneurship.”
THE ONE SCHOOL
“Entrepreneurship can help a lot in building a better Philippines. More businesses mean more jobs, and more jobs mean providing livelihood to sustain Filipino families. Teaching the youth how to be an entrepreneur can do wonders not only for themselves as individuals but also for our country.” This line from The One School executive director Lex Ledesma explains why the university began offering its Bachelor of Science in entrepreneurship program in 2007. The One School is a progressive school pioneering in alternative education. Most of the subjects in its curriculum are tweaked not only to develop creative and critical thinking skills, but also are made relevant to students’ lives and businesses so they gain appreciation of the lessons and are able to apply it in the real world setting. To enable them think out of the box, the school boasts of its competent faculty members, including Ledesma, Kahlil Bagatsing (Vice president of Make A Wish Philippines), sociology professor Fe Banez and human resources management expert and economist Suzanne Zambrano. “We won’t say we’re better than other schools, but we’re definitely different. If you’re the type of student who’s looking for a fresh approach to education, then, we’re the school for you,” says Ledesma. “We recognize that every individual has his or her own unique way of thinking and learning, thus, we tailor fit our programs such that each and every student gets a personalized education. Otherwise, we won't have Jessie Suaco and Chase Hui of Spin City, Stacy Rodriguez of Glasnost and Tasha Rodriguez of VitaOils and pro golfer Venjo Reyes Jr. as some of our accomplished graduates.” What makes The One School different: Programs tailor-fit to give each student's personalized education.
ENTREPRENEUR SCHOOL OF ASIA
Entrepreneurs School of Asia (ESA) is the first college in Southeast Asia that has advocated entrepreneurship as its core value since it was founded in 1999 by Vivienne Tan, daughter of taipan Lucio Tan – a fashion and technology entrepreneur in her own right – and businessman Joel Santos. It started a specialist degree in BS Entrepreneurship in 2001 primarily to create more job-makers rather than job-seekers. Since then, it has become one of the leading institutions in the study of social entrepreneurship and innovation in the region, keeping true to its motto of creating “Entrepreneurs for Society.” ESA’s Bachelor degree curriculum has student mentored in a practical step-by-step approach (learning by doing) toward setting up and managing start-up venture successfully in their final year – a prerequisite for graduation. The school has a very strong international focus with tie-ups with universities in the United Kingdom, Australia and China, so its students can take advantage of opportunities from the leading economies of the world. “ESA’s entrepreneurship program is for those who would like to learn to become entrepreneurial and start their own business. As long as they are willing to learn and do the work, they will be guided in starting and running their own venture by the time they graduate,” says Eduardo Silva, ESA director for academics. What makes ESA different: Takes a step-by-step mentoring approach. (Abad)
TUITION FEE FOR BS ENTREPRENEURSHIP
Based on my Research about the tuition fee for BS Entrepreneurship, The School given for this Chart is from Entrepreneur.com.ph which is the Best School to take Entrepreneurship course. I computed the average of their tuition fee. The Highest tuition fee per year is the De la Salle University Manila, Then the next is Entrepreneur School of Asia in Quezon City, then the next highest tuition fee is the One School in Makati. This information is based on the Interview with Mr. Nian Guzman an Academic Officer in the One School. Then the next school is the Ateneo De Manila University, next highest tuition fee is the University of Asia Pacific and lastly is the San Beda College. This 6 (six) School is just a Bachelor of Science tuition fee.
Based on my Research for the tuition fee for Asian Institute of Management which is a Post Graduate school. The total Tuition fee for Masteral Degree is ₱ 1,600,000-3,200,000 per year.(“Asian Institute of Management, Makati - FindUniversity.ph”)
Based on the surveyed that i gathered through email. I interviewed an Academic Officer at One School. I ask about if they have an BS Entrepreneurship Course at the One School and how much is the tuition fee for the BS Entrepreneurship course, He said that “Yes, we offer Bachelor's Degree in Entrepreneurship. We operate on a trimestral basis. And the Tuition fee depends on the type of classes you enroll to:
P10,000 per subject with six or more students (Regular Class)
P15,000 per subject with two to five students (Binary Education Class)
P25,000 per subject for one-on-one classes (Independent Study Course)
If you prefer smaller classes, then the tuition would be higher. But it's okay to enroll only in regular classes or mix of both.
If you take the maximum of six classes per term, tuition per year is P180,000.
Being Entrepreneur has a lot of benefits, Based on my Research about What is the Benefits from being an Entrepreneur. One of the benefits is the :
You do what you love.
This may very well be the first and most important reason. There is absolutely no point in living your life without passion. There needs to be something that gets you out of bed in the morning and your career should definitely take that blame. Most of the people you probably know work from 9 a.m. to 5 p.m. and chances are they look up at the clock on the wall at least twice every hour. Why? Simple: they don’t love what they do (at least not entirely). If your heart is not fully committed to your employment then you’re wasting your time and time, as we all know, is money. A great deal of your day is invested in work. You might as well enjoy it. “If you love what you do, you’ll never have to work a day in your life.” –Confucius
Flexibility
Let’s face it: one of the most attractive aspects of being an entrepreneur is the flexibility factor. Being tied down to just one area holds you back from fulfilling all of your skills. Entrepreneurs carry a loaded agenda. You want to be able to complete every single task that you propose yourself and being flexible optimizes the chances of that happening. Flexibility also means that you’re not on a set schedule. Life throws curve balls at you and being an entrepreneur allows you to make adjustments, even if they appear to be last minute. Flexibility allows you to become a “jack of all trades and a master of none.”
You are your own boss
I’ve had many bosses in the past; some were excellent but others micromanaged me terribly. At times, I felt I didn’t even exist. When you’re an entrepreneur, most of the times you don’t have to worry about this because you are your own boss. You make the rules as you go along. You do, however, need to establish some sort of discipline in order to know how well you can work alone. Being an entrepreneur isn’t for everyone but if you have a certain skill set required to develop on your own then I highly encourage it. “Being a boss is great. You get to choose which eighteen hours a day you work.”
You create your future
We live in a world of uncertainty. As an entrepreneur, you have a vision that is embedded in your head. Regardless of what happens, you will forever see yourself making that dream happen. Not knowing can be seen two different ways: you either see it as a problem or see it as part of the fun. Entrepreneurship is all about embarking on a journey fueled by gut instinct. If you trust that what you see inside your head is feasible then you should do everything within your power to make it a reality. “The best way to predict the future is to create it.”
Perpetual Vacation
Going back to what I stated in the beginning, being an entrepreneur doesn’t feel like work. As a result, freedom is a constant in your life. If you’re free to roam around and be yourself twenty four hours a day and seven days a week, you won’t feel the urge to take time off in the form of a vacation. Entrepreneurs don’t hate Mondays. An entrepreneur doesn’t look forward to the weekend. We don’t punch a clock. Entrepreneurship is basically a perpetual vacation if you manage your time wisely and follow your own rules. Once you learn that: “the sky's the limit.”
You are viewed as a leader.
An entrepreneur is seen in the eyes of many as a figure that sets trends and innovates in their own right. These are just two of the qualities that separate a leader from a follower. Leaders take risks and hustle. A follower simply goes with the flow of the river. A leader asks questions while a follower aimlessly looks for answers. Being a leader can be a double-edged sword. Yes, it can make or break you but the thrill of being in the driver’s seat on the road to life should be plenty of motivation to succeed.
Being someone
“Things are impossible until somebody does what another believes can’t be done.” –Anthony Robbins. Enough said. (Alvarez)
METHODS AND RESULTS
To get a more closer view of what being an Restaurant Owner. I conducted a survey with 1 Respondent who has the years of experience in being a restaurant owner in Pasig city. I gathered a question about her Restaurant.
What three pieces of advice would you give to college student who wants to become entrepreneur?
Based on her answer she said that The First advice is Research is key. Do intensive research on the business that you want to pursue. It will help you decide especially in terms of financial matters. Second, know your market. Even though a product / service is promising, if you don't have a market for it within your area of operations, more likely your business will fail. Third, be creative. Joining bandwagon and copying strategies of other business are easy. But, having your own identity as a brand or product would mean so much in the long run.”
What has been your satisfying moment with your job?
My Respondent said that Having regular customers. It means we're doing the right thing. Also, being able to expand our services and the strategies that we put into our business.
What training is needed?
Based to my respondent she personally didn't have an F&B training prior to opening up a restaurant. But I will say that knowledge on marketing and finance can serve you well.
How much free time do you have?
As my Respondent said that she “only have free time on Sundays, and early in the morning”, So being an Restaurant owner is not an easy job too, You need to sacrifice your time in focusing on your restaurant, to have more customer.
How happy are you in your profession?
I asked my Respondent about how happy are you in your profession from being a restaurant owner. Using linear scale she rate 4 or being happy to her profession, we know that restaurant owner is not an easy career, restaurant owner has many competitors because creating your own restaurant is just easy as long as you have a service crew, cook, place where you can put your restaurant, and of course money. But being restaurant owner is a enjoying career where you are the one who will manage and you are the boss.
What have been some of your failures, and what have you learned from them?
She said that “ I am constantly failing - with my preconceived notions on things, when I overestimate a product then later on realize that it doesn't work. Failing is good, as long as it keeps you going”.
As an Entrepreneur, What is your priority and goal?
Based on her the priority and goal is “ to be able to provide quality food and service to customers. To provide livelihood to people”.
In one word characterize your life as an entrepreneur?
She said that Freedom, We know that being an Entrepreneur we have an freedom on how we can manage on our business. Specially in Restaurant, we have an freedom on how we manage, on how we decorate our restaurant. Even in choosing our employee we have an freedom to choose our own employee. That’s why i like to become an Restaurant Owner because i don’t want to be under-control with somebody.
What motivates you to become an Restaurant Owner?
For her, she motivates to become an Restaurant owner the reason why is because “ I just don't see myself being "employed" forever”.
What benefits an entrepreneur can get in 10 - 20 years from now?
My respondent said that “I've no specific answer to this, except that from what I've gathered from other self-made millionaires, return of investment doesn't happen overnight. Sometimes, it takes years and decades.”
What are the skills and talent required for being Restaurant Owner?
For her the skills and talent required for being an Restaurant owner is being Patience, perseverance, and creativity.
In building a restaurant. How much capital do you need?
Based on her answer in how much capital do you need is depends on how big the restaurant that you're planning to build is.
How many employees are needed in starting up your business (Restaurant) ?
My Respondent said that it depends on how big the restaurant you’re planning. But I'd suggest you start only with a few employees. Then, after your business take off, gauge if you need more.
CONCLUSION
I learned a lot of information about my research topic which is a restaurant owner my knowledge about entrepreneur has been increased because there are a lot of information specially in surveying a restaurant owner i get a lot of advice and information on how you will manage your business.
There are a lot of advantages from being a restaurant owner such as; being a boss, You can’t get fired and out have the freedom to make the decisions about your restaurant, and no one can control your idea, and your time.
There are a lot of disadvantages from owning a restaurant such as; The financial resources needed to start and grow a business because you need a lot of money to start up your restaurant, even if you’re not sure if your restaurant is in demand, another is time-consuming because if you are managing your restaurant you need to work and think a new idea that will trend to your customer (e.g. Promo, New Menu )
The most interesting part that i discovered about entrepreneur is the time because mostly they think that you have much free time in your life but no because even the working hours is finished, at your home you're still need to work like you need to think a new idea from your customer, and on how you will manage your business. And i want to pursue this career because i have a lot idea now on how i will manage my restaurant.
BIBLIOGRAPHY
Abad, Roderick L. “7 Schools for Entrepreneurship.” Entrepreneur.com.ph. N.p., 13 Apr. 2012. Web. 15 Mar. 2016.
Alvarez, Francisco. “The Top 7 Benefits Of Being An Entrepreneur.” LinkedIn Pulse. N.p., 7 July 2014. Web. 15 Mar. 2016.
“Asian Institute of Management, Makati - FindUniversity.ph.” N.p., n.d. Web. 16 Mar. 2016.
Bandyopadhyay, Tamal. “What’s Next, Mr Vijay Mallya?” LinkedIn Pulse. N.p., 14 Mar. 2016. Web. 15 Mar. 2016.
“BS in Entrepreneurship in the Philippines.” N.p., n.d. Web. 15 Mar. 2016.