Your Questions About Investing In Restaurants Can Work

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Mark asks…

Can anybody help with this Algebra word problem?

A college student earned $6600 during summer vacation working as a waiter in a popular restaurant. The student invested part of the money at 9% and the rest at 8%. If the student received a total of $549 in interest at the end of the year, how much was invested at 9%?

And tell me how, please??

Justin answers:

Assumption: Simple interest is involved.

This is a type of mixture word problem.

Type …………. Qty …………. Interest Rate …………. Total
9% interest …, x ……….……. 0.09 ……………………. X * 0.09 = 0.09x
8% interest …. Y ………….…. 0.08 ……………………. Y * 0.08 = 0.08y
Total …………. X + y …….…. —– ……………….……. 549

The first 2 rows of the last column always add up to the third row in that column.
0.09x + 0.08y = 549

Given: Combination is 6600 dollars
Means: x + y = 6600

You now have 2 equations.
0.09x + 0.08y = 549
x + y = 6600

Solve the 2nd one for x.
X + y = 6600
x = 6600 – y

Replace x with 6600 – y in the 1st one.
0.09x + 0.08y = 549
0.09(6600 – y) + 0.08y = 549
594 – 0.09y + 0.08y = 549
-0.01y = -45
y = 4500

Plug this solved y value into x = 6600 – y to solve for x.
X = 6600 – y
x = 6600 – 4500
x = 2100

ANSWER: $2100 was invested at 9%.

BONUS: $4500 was invested at 8%.

CHECK:
Type …………. Qty …………. Interest Rate …………. Total
9% interest …, 2100 ……..…. 0.09 ……………………. 2100 * 0.09 = 189
8% interest …. 4500 ………… 0.08 ……………………. 4500 * 0.08 = 360
Total …………. 6600 ……..…. —– ……………….……. 549

189 + 360 = 549?
549 = 549?
True

James asks…

What is the answer to this question?

A small town has a single restaurant. The service and food were acceptable. One day another restaurant opens. The second restaurant is owned by a couple who have invested their life savings in it and are determined to succeed. After a few months, the original restaurant decides to revise its menu(which hadn’t changed in ten years) and have specials on different days of the week. Also lunch-time customers are guaranteed to be served in fifteen minutes so they can get back to work on time. Explain what happened in terms of competition and profit motive.

Justin answers:

The first restaurant promoted change in order to attract customers who have been attracted to the new restaurant. Its like getting a new car when you see that your neighbor just bought a ferrari, you feel that need to compete or you feel worthless.

Richard asks…

what is the best way to invest 30000 dollars?

i am 20 years old and have around 30,000 dollars my father left me when he passed away years ago. it has been sitting in the bank. my two older brothers used their share together and bought a house. i have 2 year old at home and live with my mother, i cant afford to move out right now anyways so i should use my money to make more money so when i move out in around 2 years from now so i wont have to struggle, i am a single father and will have to work for myself because i will have to watch my kid and cant go to work at a restaurant. the only time off i will have is school and if i can afford daycare. im thinking about buying a condo and renting it out..
im looking to make money in the near future and get a good flow of money going. so i really cant wait years and years to get it back from a long term investment. so i need something i can put money into and make a decent profit and get it back quick.

Justin answers:

What are you investing for? Different people have different goals. Is it for more income? For retirement? For someone’s education? Plus how old are you and how long do you want to invest? How much risk are you willing to assume?

These are all very critical questions and they will determine what kind of investments are right for you. Don’t believe anyone who has a “one size fits all” kind of investment. For stocks typically you are talking about at least a 5 year investment period. If less, consider getting into bonds or a bond fund instead. Many people choose an appropriate mix of the two.
Do some research first. Two excellent reads are The Complete Idiot’s Guide to Investing and Investing for Dummies. You can probably find them in your local library. Before doing anything, make sure you have enough in savings in case things go south for at least 6 months.

John asks…

Can someone read my essay and critique.?

Who is not guilty of serving their family an affordably priced value meal for dinner in place of a home cooked meal? Fifty years ago that was unheard of. Most people at that time ate most of their meals at home. Mothers especially made breakfast, lunch and dinner. However, since the first fast food restaurant opened its doors decades ago the way our society eats had dramatically changed. It is not uncommon for people to eat on the go. The fast food industry, among, other things, has been instrumental in providing new jobs, changing the way the way people eat and creating a new health crisis with much of its consumers.
In almost every major city across the world there are fast food restaurants. And the more locations there are the more people that are needed to work in them. Typically, those who work in these establishments are teenagers and people with limited education and opportunities. These positions are usually easy to obtain. If it were not for fast food companies many people would have an even harder time obtaining employment. Also in recent years a lot of fast food companies are now investing in their workers with manager training programs and franchise opportunities. With programs like these on the rise working at a fast food restaurant is slowly loosing the stigma that was once associated with it. Another point to add is that the rise of jobs and the popularity of this industry have bought out many important issues like food safety and minimum wage into the mainstream.
In a world of convenience, it is only logical that easier ways of eating out would emerge. The fast food industry has been at the forefront with ideas. Companies spend millions trying to bring in more customers and earn more profits. One of the most revolutionary ideas is the drive-thru window. With more people working outside the home than ever before there is less time to prepare meals. Plus restaurants are offering tasty choices at reasonable costs. It is also safe to say that people are eating different varieties of food due to the many different chains out there, something that was quite rare years ago. It is not uncommon to go grocery shopping and stop to get a quick bite to eat on the way out. Companies are also now designing restaurants to look more attractive and chic. In some instances companies are holding board meetings in the restaurants rather than the traditional conference room.
However, the biggest impact that the fast food industry has made is by changing the shape of our society. Within the last decade people are becoming more and more overweight. Health issues such as high blood pressure, diabetes and heart disease have become more prevalent. Healthcare workers and scientist says the foods found in many of these restaurants are to blame. Childhood obesity has become a hot topic lately and most attribute it to the heavy marketing of fast food restaurants to children and young people. The issue has gotten even more controversial since several lawsuits have been filed against large fast food chains from individuals who claim they became fat from eating their food. It has divided people across the board. It is widely known that foods from these restaurants are high in fat, sodium and sugar. Some say, people should develop self control with this knowledge, while others claim it is not just the food but our lifestyle and culture that contributes to our deteriorating health.
All in all, the fast food industry has taken this nation and the world by storm. Regardless of a persons’ opinion on the issues of its growth, people agree that it has changed our society for sure. The development of jobs and providing society an easier way to eat are all a result of its growth. Now companies need to work on developing healthier food choices for its customers.

Justin answers:

First paragraph you used the word “had” make it “has” since eats, is present tense. No comma after the word “among” in first paragraph. Also in first paragraph, you need to add a comma after “people eat”. First two sentences in paragraph 2 need a comma. Paragraph 3 “it is also safe to say” you need a comma after the word say. “within the last decade” you need a comma after decade. The rest looks fine. And wonderful job! I wrote a report almost identical to it. 🙂

Joseph asks…

business advise first international restaurant in town how to attract customers?

I would like to invest my money after been working so many years at 35 years old just got tired rolling around unhappy with any job I had therefore, I have decided to open up my own restaurant the scary part is that i am using my own money please help i need advise from experience peoples this what i want to open an african restaurant and international food market which will include live seafood and meat as goat, lamb ETC.. any one with idea how can i successfully do this reply

Justin answers:

Get a good accountant before you do anything. I would run the scenario by them first. Ask yourself some questions. And be honest. You try and kid yourself at this stage and it will be all over quicker than you can say Moroccan Lamb with a Lime Yogurt Drizzle.

Are the people in the area wanting African cuisine. Are they ready for goat meat. Remember, it took some time for Aussies to accept Kangaroo. Now it’s a delicacy. But are you willing to be the one to test bench? Check the figures as to how the restaurant industry is going. Your accountant will help with this. Is it growing? Has it declined over the last 3 years? All relevant questions.

With regard to budget. Whatever you set as a minimum, add 25%. If you run out of money in a businesses infancy, it will fail before you know it. Don’t be afraid to use your own money. At the end of the day, there is no bank interest to add to your debt.

I have had some success stories and some not so good. 1 loss was $150000 but hey, I bounced back to where I was before that venture. Just be prepared for a lot (A LOT) of headaches.

Cheers

PS
All in all. I wish you the best of luck. I may come across very negative but advise in a nutshell…listen to your gut after you get professional advise.

Daniel asks…

How do I find the drive to finish school now that I know I don’t want to continue a career in this field.?

I think people are hard wired to solve problems, to do anything to solve them if they are big enough. Now I’ve got this huge problem, or rather a huge problem on the horizon that I can‘t seem to care enough about to stop.

A few months ago I started culinary school, I knew it was the career choice for me, I knew it was what I wanted to do for the rest of my life. I was the top student in my class, maybe I didn’t always catch on as quickly as everyone else but I researched to comprehend all of my work and made better grades than everyone. Now because of the loss of friends and the realization that I want to make another career move I have lost absolutely all passion to study.

I still enjoy cooking I really do and I really don’t mind working at the restaurant I’m at, at all but its just become a pay check. I’m trying to focus, I can‘t focus at all though when I’m in class it seems anymore. My grades are slipping and because of some kind of messed up seasonal depression or something I’m not getting out of bed and showing up late to class now.

My instructors are on their last nerve with me and I’m just like inches away from getting expelled after starting the year out as their top student almost. I don’t even know what I want as a career anymore. I’m just killing time it seems like cause I just simply have no passion at all for any of my work. I need to find out just a million different reasons to make studying and getting to class on time in mind and body but this weather and this city are sucking the soul from me.

It doesn’t have to be my #1 priority or anything I would be find if I could even just coast through the next 6 months on a C, I just have too much god damn money invested in this shit to give up. I’ve had too many people help me out to fail.

I know I’m a pretty good cook and this experience and degree will help carry me through until I find something else I’m really passionate about but, I just can‘t seem to make it important enough to me anymore. I’m simply amazing at my abilities to research and comprehend anything I really want to know I just do not know how to focus that back on school again. Basically my problem is I need school to be my #1 problem to solve. Or even just my # 2 cause now I need to figure out how to swallow my pride enough to ask for more hours at work since I cut them to focus more time on school.

Somebody please give me more reason to care.

Justin answers:

You need a culinary challenge.
Talk to your instructors. Explain to them that the excitement you found in cooking has slipped away. (Try this on a sympathetic instructor first.) Tell them you want the equivalent of a ‘research problem’ to solve for your course. It doesn’t have to be part of your coursework.
One challenge you might want to try is: Can you make a five-star meal for one person that can be sold for $1?
Pick a problem like this up, consult with your instructors, and ask them to give you the time to solve it. You can also mention to the chef at the restaurant you are working with, that you’d like to figure out a way to do it.
The instructors will support your efforts in this area because of the technical challenge. The chef at work will support you because, if you crack it, he’ll want the recipes. (And if you don’t, well he doesn’t lose anything.)
And to crack it, you’ll probably need EVERY ounce of skill you have, every resource the culinary school has at its disposal, every bit of information you might find in any course, and the help and advice of dozens of other people.
If you take on the challenge, talk to your friends about it. They’ll be disbelieving, but they’ll support you emotionally while you try. And if it works, you’ll have created the five-star meal for the homeless man. Something to take real credit for. Something you can be proud of.
Maybe it’ll be a worthy challenge.

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