FACING BUSINESS CHALLENGES AT AJ WRAPS

原创 2007年09月11日 21:25:00
Wrapping Up a Business - To Go

Alice Thomson and Judith Nantook are identical twin sisters whose passion for food led them into a gutsy decision: opening a chain of fast-food restaurants¾starting with one, of course.

AJ Wraps “probably began when we were teenagers working in fast-food restaurants,” says Alice. “Then our parents gave us a trip to Paris as a graduation present,” adds her twin Judith. “We fell in love with gourmet French cuisine.” They had wanted to stay and study with the masters of French cooking, but it just wasn’t feasible. So they went home to Illinois to finish college (Alice majored in psychology, Judith in premed zoology). Then Judith met and married Jeff Nantook, following him to San Francisco where he worked as a CPA and tax adviser.

Before long, Judith was begging Alice to move to San Francisco and attend the California Culinary Academy with her. During the week they were learning about sauces and soufflés , and on weekends they were tasting and sampling the city's gourmet offerings while endlessly discussing the restaurant they planned to open after graduation. They were fascinated by the local trend toward multiethnic combinations--and by a "new" eating invention called the wrap. Some say it evolved from a Mexican burrito filled with unexpected ingredients. Others say the idea of a meal wrapped in an easy bundle shows up in every culture sooner or later.

Whatever its origin, the twins saw gold. They started planning a fast-food restaurant that would sell multiethnic, gourmet “wraps” containing exotic , fresh “fusion” (hot and cold) cuisine. They imagined a flavored red tortilla filled with Thai chicken, jasmine-lime rice, and fresh snap peas¾or a green one filled with blackened red snapper, Spanish rice, Napa cabbage, and lime-horseradish sour cream. They even started making samples in Judith's home kitchen, much to Jeff’s delight.

The twins knew wraps appealed to anyone with a hectic lifestyle¾and who doesn't fall into that category at least occasionally? Commuters want to eat behind the wheel, parents want to pick up dinner on the way home, and single people are looking for fresh, healthy, inexpensive meals. Wraps could satisfy all these needs, the twins believed. A National Restaurant Association survey on ethnic cuisine showed that consumers were eager to try more ethnic foods; moreover, a look at the Internet Food Channel’s “Ultra Trend Tracker” showed them that the wrap was leading the sandwich category, where focaccia was fading. From coast to coast, newspaper reviews were hailing wraps as the best new fast-food discovery.
Now Judith and Alice face some hard business decisions. Jeff has agreed to share his expertise as financial adviser, but who will manage the food and who will handle the books? How will they share ownership, pay taxes, and compensate themselves? What will they offer financial backers? How will the business grow? Alice and Judith have absolute confidence in their teamwork and their culinary expertise. But they also know that if they don't set the business on the right structural foundation, it could fail overnight¾as a lot of well-meaning friends keep pointing out.

Meeting Business Challenges at AJ Wraps

For a time, Alice Thomson and Judith Nantook thought their plans to open AJ Wraps were falling through . Judith's husband Jeff was offered a partnership in a large accounting firm¾the catch was, he'd have to move to Los Angeles. However, with a little more research, the twins' enthusiasm was restored. They read about a company partly owned by actor Woody Harrelson: Yoganics, an organic food-delivery service, was apparently reaping tax benefits from a location in South-Central Los Angeles. A 1992 racial uprising left a scarred community that needed to rebuild itself, and the area was designated a “revitalization zone.” State officials were offering tax incentives to spur businesses into the area. It was working beautifully, creating new jobs and a positive, thriving atmosphere.

Alice and Judith loved this idea. As financial adviser, Jeff thought the tax savings would help them get rolling , and an eager work force couldn't hurt. Reassured , the twins revised their plans. Their headquarters would be in South-Central Los Angeles, with the first two restaurants nearby. The third they'd open farther south, in bustling , middle-class Orange County. After three AJ Wraps were running successfully, Judith, Alice, and Jeff would sit down and prepare a plan for selling franchises. When it reached that stage, they’d probably want to incorporate , but in the meantime, the business would function as a partnership . Now they had to decide how to divide the responsibilities¾and the compensation.

At first, they considered including Jeff as a third partner-after all, his input during the planning stages had been invaluable. But in private meetings Judith and Alice decided that giving Jeff equal management control could eventually interfere in the long-practiced, twin-bonded , team tactics that worked so well between the two of them. They were so attuned to each other's way of thinking and doing that they had always been able to make decisions in a snap.

For a while, they toyed with the idea of offering Jeff a limited partnership (eliminating his management responsibilities and limiting his liability) but realized they frequently needed his advice to make management decisions. As a limited partner, he wouldn't be compensated for that weekly time investment. They also considered writing a general partnership agreement that limited Jeff’s management participation, but that approach could lead to some uncomfortable situations (such as having to tell him when to back off and when he was needed). Finally, the twins decided the best option was the simplest one: Alice and Judith would share the business as general partners, hiring Jeff as a consultant and paying him hourly for his expertise. Besides, as Judith pointed out, he'd be sharing in the restaurants' profits anyway as her husband. (At first Jeff's feelings were a little hurt when they told him he wouldn't be a partner. But then he saw the wisdom of it¾not to mention the lack of pressure and the easy income. He agreed wholeheartedly.)

Next, Alice and Judith decided that their financial backers (their aunt and uncle, at this stage) would be offered a limited partnership. When and if AJ Wraps incorporated, their backers would be given the option of selling their partnership back to the company or investing further as shareholders in the closed corporation. This would all depend on the company's success, the twins realized, and they knew they could only plan so far ahead; first, their wraps must become a big hit in the new neighborhood.

One of the twins' early planning discussions was about the nature of their business: Were they a service provider or a goods producer? They decided they were both: When interacting with customers, they would provide attentive service with a meal that was fast, inexpensive, and healthful. When working in the kitchen, they'd use all their culinary arts to “manufacture” the best wraps in Los Angeles¾or the West!

 

协同办公Club Skype for Business 云通讯录体验分享

Club Skype for Business是基于微软产品Skype forBusiness推出的增强型协同办公解决方案,让Skype for Business在满足中国企业沟通及办公需求的同时,在...
  • Skype_for_business
  • Skype_for_business
  • 2017年07月28日 09:26
  • 400

如何从AD中彻底删除Skype For Business(上篇)

警告:以下操作在生产环境中存在风险,请执行这些动作之前,做好AD及当前Skype for business的备份,尤其是在复杂的Skype for business或Lync环境,每一步操作建议先在P...
  • xuhuojun
  • xuhuojun
  • 2016年06月19日 21:00
  • 5781

归并求逆序数

题目描述 对于数列a1,a2,a3…中的任意两个数ai,aj (i < j),如果ai > aj,那么我们就说这两个数构成了一个逆序对;在一个数列中逆序对的总数称之为逆序数,如数列 1 ...
  • qq_26222859
  • qq_26222859
  • 2017年04月05日 21:11
  • 433

Let's Encrypt,免费好用的 HTTPS 证书

转自:   https://imququ.com/post/letsencrypt-certificate.html?hmsr=toutiao.io&utm_medium=toutiao.io&u...
  • leonzhouwei
  • leonzhouwei
  • 2015年12月25日 10:18
  • 716

Wewe带你看代码 --二分法与分治法

设X[0:n-1]和Y[0:n-1]为两个数组,每个数组中含有n个已排好序的数。设计一个O(logn)时间的算法,找出X和Y的2n个数的中位数。分析:中位数:位于某一序列中间的某个数或两个数的平均数。...
  • wjb1204
  • wjb1204
  • 2016年10月06日 22:42
  • 279

2016 小灶练习1 A题 (HDU1034)

题目: A number of students sit in a circle facing their teacher in the center. Each student initially...
  • PiscesCrab
  • PiscesCrab
  • 2017年01月14日 22:09
  • 119

求购IOS微信组件

求购IOS微信组件
  • sinat_36844900
  • sinat_36844900
  • 2016年11月28日 14:27
  • 1202

SAP BusinessOne:福奈特选择奥维奥SAP BusinessOne 解决方案

《成就活力企业》第五集:为客户构建更便利的服务世界,福奈特选择奥维奥 洗衣服务 一次改变命运的机遇   故事发生在十六世纪的法国,一个炎热的午后,亨利四世的贴身仆人抱着污迹斑斑的外...
  • SAP_avatech
  • SAP_avatech
  • 2017年04月07日 14:48
  • 665

不得不写的AJ-Ministory

这个月的主要学习材料是Ministory,对于这个材料,确实有着很多不得不说的感受。     一、相识初体验     在开始接触这个材料的时候感觉很兴奋,听到AJ激情四溢的故事演说,非常“带感”。真真...
  • u010191243
  • u010191243
  • 2015年10月31日 20:45
  • 429

Android Studio 常用技巧(持续更新ing)

Android Studio 常用技巧: 1.可视化布局选择1:1(默认手机为Google Nexus4); 2.Preference—>Editor—>Code Style——>File Enc...
  • chichengjunma
  • chichengjunma
  • 2016年02月17日 19:15
  • 2267
内容举报
返回顶部
收藏助手
不良信息举报
您举报文章:FACING BUSINESS CHALLENGES AT AJ WRAPS
举报原因:
原因补充:

(最多只允许输入30个字)