NVCC
COLLEGE-WIDE COURSE CONTENT SUMMARY
HRI 150 - INTRODUCTION
TO HOSPITALITY OWNERSHIP (3 CR.)
Course Description
Presents growth, development,
present status and trends of the food and lodging industry. Includes special
problems of operating small and medium sized establishments. Introduces
credit and accounting procedures, management of staff, marketing, advertising,
and security, as well as personal attitudes, qualifications, and ethics.
Lecture 3 hours per week.
General Course Purpose
The purpose of this
course is to make the student aware of essential requirements for starting
and owning a small hospitality business. The course will enable the student
to:
-
get an understanding of
the formulas for entrepreneurial success
-
prepare a business plan
based on an "idea"
-
acquire general knowledge
relative to the hospitality industry
Course Prerequisites/Co-requisites
None
Course Objectives
Upon completion of
this course, the student should be able to:
- explain how to turn an
idea into a business venture
- review critical questions
asked and answered prior to starting a hospitality business
- describe the steps in
developing a business plan including vital budget preparations and cash
flow analysis
- illustrate how to determine
cash requirements
- explain how to determine
capital asset requirements
- identify possible sources
for financing a business venture
- demonstrate how to prepare
a personal financial statement
- discuss the effects of
collateral on credit worthiness in borrowing
- contrast approaches to
business ownership and control in start-up ventures
- review the various types
of small hospitality businesses, current trends, growth patterns, future
outlook, and competition
- identify requirements
for licenses, bonds, permits, certificates, and insurance
- describe the responsibilities
of an owner/operator
- discuss successful ventures
with present owner/operation
- appraise the short and
long term impact of location in starting a hospitality business
- contrast various lease
options for consideration
- review the merits of the
management contract as an option to start a business
- review franchising as
an option to start a business
- assess the importance
of maintenance contracts
- review accounting procedures
an entrepreneur must be able to understand
- discuss cash control procedures
and use of a petty cash fund
- explain the procedure
for analyzing "milestones" in monitoring the operating plan
- explain employee selection
and motivation
- discuss the effects of
professionalism and business image on sales
- explain the benefits of
belonging to various industry associations
- discuss property safety
and public liability
- keep records in a small
hospitality business
Major Topics to be Included
- Business Concept Development
- The Business Plan
- Concept and Location
- Sales Projection
- Financing and Leasing
- Forms of Ownership and
Business Structure
- Legal and Tax Matters
- Permit and License Requirements
- Marketing Matters
- Recordkeeping/Inventory
Revised 1/2012
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