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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

BLACK RESTAURANT ACCELERATOR PROGRAM

THE BUSINESS BEHIND THE FOOD Student Study + Action Guide HOW TO USE THIS GUIDE

Use this alongside your Owner Workbook and session decks. The Owner Workbook is where you build the business. This guide helps you understand, review, remember and apply the concepts that support that work.

New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

Your 15-Week Roadmap Each session adds a piece to the business. The goal is not to collect worksheets. The goal is to finish the program with a clearer strategy, stronger operations, better financial control, greater buyer/funder readiness, and a pitch built from work you have already completed. WEEK 1

Orientation & Baseline Diagnostic

WEEK 2

What's Your Thing? — Differentiation & Innovation

WEEK 3

Internal Business Analysis

WEEK 4

Market, Customer & Competitive Landscape

WEEK 5

Marketing, Brand & Customer Retention

WEEK 6

Strategic Plan & Roadmap

WEEK 7

Food Safety, Certification & Food & Beverage Essentials

WEEK 8

Legal Foundations, Entity Structure & Risk Management

WEEK 9

Supply Chain, Inventory, Suppliers & Technology

WEEK 10

Team, Hiring & People Management

WEEK 11

Corporate Procurement Readiness & Certification

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 12

Financial Management: Costing, Pricing, Budgeting & Forecasting

WEEK 13

Financial Management: Forecasting Continued

WEEK 14

Access to Capital: Grants & Loans

WEEK 15

Pitch Development & Rehearsal

New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

How to Study This Program KNOW IT

Understand the language and the business concept well enough to explain it without reading the slide.

FIND IT IN YOUR BUSINESS

Connect every concept to your actual menu, customer, operation, team, numbers, documents or growth plan.

DO SOMETHING WITH IT

Each session should end with a decision, calculation, document, deadline or next action.

CARRY IT FORWARD

Later sessions rely on earlier work. Compliance affects procurement. Forecasting affects capital. Strategy and traction become the pitch.

A simple rule for this guide Do not study to sound like you know business. Study until you can make a better business decision.

New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 1

Orientation & Baseline Diagnostic WHY THIS SESSION MATTERS

Set expectations, build the cohort, and capture a baseline for every business.

YOUR WORK PRODUCT

Completed baseline diagnostic and goal worksheet — due BEFORE class.

What You Need to Know How this program works 

  

Fifteen 3-hour classes: Hour 1 reviews last week's deliverable, Hour 2 is a guest expert (when available), Hour 3 is instruction. Every week produces one artifact. Artifacts compound — by Week 15 they assemble into the pitch. Each cohort member receives 2 hours of 1:1 consultation per month; schedule it, don't wait to be chased. Attendance and deliverable completion are how you stay in good standing and remain grant-eligible. How this program works The baseline diagnostic Goal-setting and sharing

The baseline diagnostic    

Five domains: strategy clarity, compliance status, financial control, operational capacity, and capital readiness. Score each 1–5. A low score is not a failure — it is where the program will pay off most. The diagnostic is re-run informally at Week 15 so owners can see movement. Honest scoring matters: counselors build the 1-on-1 plan directly from these numbers.

Goal-setting and sharing    

A good program goal is specific, measurable, and achievable inside 15 weeks. Weak: 'grow the business.' Strong: 'land two catering contracts worth $10K by December.' Tie the goal to a domain from the diagnostic so the weekly work connects to it. Goals are shared aloud — public commitment inside a cohort is the strongest accountability mechanism available.

Cohort norms and logistics    

Confidentiality: what is shared in the room stays in the room. Owners disclose real numbers here. Peer support is expected — this cohort is a supplier, referral, and advice network. Deliverables are due at the start of the following class, uploaded in advance. Meet your counselor; book the first 1-on-1 before leaving the room today.

Put It Into Your Business

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

PROGRA M ROADM AP

Mark the week you are most worried about on the shared program map.

BASELI NE CHECK

Walk a partner through your two lowest diagnostic scores and why you scored them that way.

Check Yourself □ What are the five domains used in the baseline diagnostic? □ What makes a strong 15-week program goal different from 'grow the business'? □ How do weekly artifacts build toward Week 15? □ What is one cohort norm that protects the quality of the learning environment?

My Next Actions What do I need to fix, find out, calculate, create, confirm or ask someone? ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________

New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 2

What's Your Thing? — Differentiation & Innovation WHY THIS SESSION MATTERS

Finding the idea inside the food business.

YOUR WORK PRODUCT

A stronger answer to: Why YOU?

What You Need to Know Innovation is broader than invention  

Black ingenuity has long changed what we eat and how food is made, served and moved. A food business can innovate through the product, the tool, the process, the place, the experience or the business model.

Make the familiar different  

Baked by Melissa shows how changing size can change the customer decision: bite-size cupcakes make variety, discovery and gifting part of the value. The value proposition is not simply the food item; it is the reason the customer experiences or chooses it differently.

Put it somewhere unexpected  

Farmer's Fridge combines fresh prepared food with the convenience and footprint of vending. A useful question is: where does your customer already need you?

Bring back what still solves a problem  

Old formats such as automats, milk delivery, lunch counters, pushcarts, returnable bottles, supper clubs, neighborhood delivery and food lockers can inspire new models. Nostalgia is not enough. The revived idea must solve a current customer problem.

The experience can be the innovation  

Caviar shots, champagne walls, mobile bars and food flights show how service and presentation can create memorability and perceived value. Look outside food for models such as drops, subscriptions, refills, capsules, memberships and tasting rooms.

Put It Into Your Business YOUR DIFFEREN CE

Complete the UVP statement: People can already buy ____. What we do differently is ____. That matters because ____.

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Check Yourself □ Why is 'our food tastes good' not a sufficient unique value proposition? □ Name three places innovation can live besides the food product itself. □ What current problem could an older food-service format solve today? □ Complete: People can already buy ____. What we do differently is ____. That matters because ____.

New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 3

Internal Business Analysis WHY THIS SESSION MATTERS

Take an honest look inside the business — strengths, gaps, resources, and operations.

YOUR WORK PRODUCT

Internal analysis report: value chain, SWOT, capability & gap assessment — due Week 4.

What You Need to Know Value chain mapping for foodservice 

  

Trace every step: sourcing, receiving, storage, prep, production, packaging, service/delivery, and follow-up. At each step ask two questions: where does cost accumulate, and where does value get created? Support activities count too — bookkeeping, scheduling, marketing, and equipment maintenance. The steps where you are distinctly good should align with the strategy you chose in Week 2. If they don't, one of them is wrong. Value chain mapping for foodservice SWOT with the emphasis inside Resources, capabilities, and the VRIO test

SWOT with the emphasis inside    

Strengths and weaknesses are internal and within your control; opportunities and threats are external. Most owners overweight opportunities and underweight weaknesses — invert that here. Be concrete: 'no consistent recipe documentation' beats 'operations need work.' Every weakness should either become a Week 6 roadmap item or be explicitly accepted.

Resources, capabilities, and the VRIO test    

Resources are what you have (equipment, recipes, location, relationships). Capabilities are what you can reliably do. VRIO: is it Valuable, Rare, hard to Imitate, and is the business Organized to exploit it? Something valuable but common is table stakes; valuable and rare but unexploited is wasted advantage. The point is to find the one or two capabilities worth investing in and building the business around.

From gaps to a prioritized list    

Contract-readiness gaps: capacity, insurance, certifications, food safety documentation, consistent costing. Capital-readiness gaps: clean books, separated business and personal finances, demonstrable margins. Prioritize by two axes: how much it blocks growth, and how quickly it can be fixed. Quick wins that unblock a lot come first — that is your October and November agenda.

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Put It Into Your Business VALU E CHAI N CHEC K

Map every step of your value chain from sourcing to follow-up, marking cost drivers and value drivers.

SWO T CHEC K

Write a SWOT that puts the honest weight on internal weaknesses.

Check Yourself □ What is the difference between a cost driver and a value driver in your value chain? □ In SWOT, which categories are internal and which are external? □ What does VRIO test? □ Which three gaps should your business attack first, and why?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 4

Market, Customer & Competitive Landscape WHY THIS SESSION MATTERS

Turn strategy outward — validate the market and map the competition.

YOUR WORK PRODUCT

Market & competitor analysis one-pager — due Week 5.

What You Need to Know Sizing the market you actually serve 

  

Work from the outside in: total market, the slice you can realistically serve, and the slice you can win near-term. For most microbusinesses the meaningful number is local — a neighborhood, a borough, a set of corporate accounts. Use real sources: census and neighborhood data, foot traffic, industry reports, and direct buyer conversations. Trends matter only if they change buyer behavior in your segment. Note the trend and the evidence together. Sizing the market you actually serve Customer segmentation and the beachhead Mapping the competition honestly

Customer segmentation and the beachhead    

Segment by who buys and why, not just demographics: dine-in, catering, retail/wholesale, institutional, online. Each channel has different margins, volumes, payment terms, and requirements — they are different businesses. The beachhead is the one segment you can win first and use as proof for the next. Choose the beachhead where your Week 3 capabilities are strongest and the buying cycle is shortest.

Mapping the competition honestly    

Name three real competitors, including the indirect ones — a grocery prepared-food case competes with a caterer. Compare on the dimensions customers actually decide with: price, quality, convenience, selection, service, story. Find the dimension where you can be clearly better, not marginally better. Look for the open space — a dimension nobody in your set is serving well.

Reconciling inside and outside    

Put the Week 3 capability list beside the market opportunity you just identified. Where they align, you have a strategy worth funding. Where they conflict, something must change. Either build the missing capability, or pick a different segment — do not assume the gap will close on its own. This reconciliation is the raw material for the Week 6 strategic plan.

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

Put It Into Your Business MARK ET SIZE

Estimate your total, serviceable, and near-term winnable market — with a source for each number.

BEACHHE AD CUSTOME R

Rank your candidate segments on margin, ease of entry, and fit, then pick your beachhead.

Check Yourself □ Who is your beachhead customer? □ What evidence supports the size and attractiveness of your market? □ Who are your direct and indirect competitors? □ What is one unmet customer need your competitors are not solving well?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 5

Marketing, Brand & Customer Retention WHY THIS SESSION MATTERS

Stay competitive and attract and retain customers.

YOUR WORK PRODUCT

One-page marketing & retention plan and refined brand narrative — due Week 6.

What You Need to Know Brand storytelling that signals value 

  

A brand story is not history — it is the reason a customer should care, told through origin, purpose, and proof. The story must match the Week 2 positioning. A premium position with discount packaging confuses buyers. Packaging and menu presentation are the story in physical form: naming, materials, photography, and price framing. Consistency across every touchpoint is worth more than cleverness in any one of them. Brand storytelling that signals value Channel strategy without spreading thin Acquisition and retention tactics

Channel strategy without spreading thin    

Map channels to your beachhead segment — corporate catering buyers are not found the same way as weekend retail customers. Pick two channels and do them well rather than six poorly. Depth beats presence. Owned channels (list, repeat customers) outlast rented ones (social platforms). Build the list from day one. Sampling and events convert unusually well in food because the product sells itself when tasted.

Acquisition and retention tactics    

Acquisition costs money; retention compounds. A repeat customer is dramatically cheaper than a new one. Retention levers in food: consistency, loyalty programs, subscription/standing orders, and personal recognition. Collect contact information at every transaction — that list is a business asset with real value. Track one retention number, such as repeat purchase rate, and review it monthly.

The narrative that anchors the pitch    

Demo Day judges hear the story before they see the numbers — the story determines how they read the numbers. Structure: the problem you saw, why you specifically, what you built, and the proof it works. Keep it concrete and specific. Details are what judges remember and repeat in deliberation. Draft it now and refine it every week — by Week 15 it should be automatic.

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

Put It Into Your Business BRAN D STOR Y

Tell your brand story in 60 seconds — origin, purpose, and proof.

CHANNE L STRATE GY

Choose the two channels you will actually work for the next 90 days, and one metric for each.

Check Yourself □ What promise should your brand consistently make to the customer? □ Which marketing channels are producing customers rather than just attention? □ What makes a customer worth retaining? □ What story should a customer be able to repeat about your business?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 6

Strategic Plan & Roadmap WHY THIS SESSION MATTERS

Synthesize the strategy and analysis work into a written plan and a roadmap for the rest of the program.

YOUR WORK PRODUCT

One-page strategic plan + roadmap with KPIs — due Week 7.

What You Need to Know The one-page strategic plan 

  

One page forces prioritization. Anything longer will not be reread. Required elements: positioning (Wk 2), key capabilities and gaps (Wk 3), target segment (Wk 4), go-to-market (Wk 5), and goals. State what you will NOT do. Explicit exclusions are what make a plan a plan. Write it in plain language an employee or a lender could follow without explanation. The one-page strategic plan Goals and quarterly milestones Prioritizing across the whole business

Goals and quarterly milestones    

Set three to five 12-month goals maximum — more than that is a wish list. Each goal needs a number and a date. 'Increase catering revenue to $60K by Q3' is a goal; 'grow catering' is not. Break each goal into quarterly milestones so progress is visible before the year ends. Assign each milestone an owner, even in a business of one — it forces the calendar commitment.

Prioritizing across the whole business    

Five domains compete for the same limited hours: compliance, operations, finance, capital, and growth. Sequence matters — certification and clean books unlock contracts and capital, so they come before growth spending. Use the Week 3 impact/effort 2x2 to order initiatives rather than doing whatever feels urgent. The rest of this program is sequenced the same way; align your roadmap to it and the work doubles up.

KPIs worth tracking    

Pick five or fewer. A dashboard nobody updates is worse than no dashboard. Useful foodservice KPIs: gross margin by channel, food cost percentage, labor cost percentage, repeat rate, average order value. Each KPI needs a current baseline and a target — otherwise you cannot tell progress from noise. Set a review cadence: weekly for cash, monthly for margins and retention.

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Put It Into Your Business ONEPAGE STRATE GY

Assemble your one-page strategic plan by pulling each prior deliverable into its slot.

MILESTO NE PLAN

Take your top goal and write the four quarterly milestones that lead to it.

Check Yourself □ What are the few strategic priorities that matter most over the next 12 months? □ What metric will tell you whether each priority is working? □ Who owns each action and by what date? □ What should you stop doing because it does not support the strategy?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 7

Food Safety, Certification & Food & Beverage Essentials WHY THIS SESSION MATTERS

Put the business on a clear path to compliance and cover the essentials of running a food & beverage operation.

YOUR WORK PRODUCT

Certification & compliance action plan, enrollment confirmed — due Week 8.

What You Need to Know The NYC Food Protection Certificate 

  

NYC requires its own DOHMH Food Protection Certificate — standard ServSafe certification is not accepted in the five boroughs. Food establishments must have a certificate holder supervising during all hours of operation. The course is available free online through DOHMH and is self-paced across 15 lessons; the final exam must be taken in person. The certificate does not expire and does not require renewal — one of the highest-return compliance steps available. The NYC Food Protection Certificate Licensing, permits, and kitchen requirements GMPs, labeling, and HACCP basics

Licensing, permits, and kitchen requirements    

Requirements differ sharply by business type: restaurant, caterer, mobile vendor, and packaged goods each have distinct paths. Home kitchens are generally not permitted for commercial food production — a licensed commissary or commercial kitchen is required. Confirm your commissary's own permits are current; you inherit their compliance problems. Build the full list for your specific model, with application timelines — several permits take weeks.

GMPs, labeling, and HACCP basics    

Good manufacturing practices cover hygiene, temperature control, cross-contamination prevention, cleaning, and pest control. Documentation is what proves compliance — temperature logs, cleaning schedules, and supplier records. Packaged product labeling requires ingredients in descending order, allergen declarations, net weight, and business identification. HACCP thinking applies even below the formal requirement: identify hazard points and control them deliberately.

Food & beverage business essentials 

Buyers and lenders ask for compliance documentation early — being certified opens doors before it prevents problems. New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

  

Recipe and process documentation supports consistency, training, accurate costing, and food safety at once. Supplier records and traceability matter for recalls and for institutional buyer requirements. Compliance is the foundation the procurement work in Week 11 depends on — it cannot be skipped.

Put It Into Your Business FOOD SAFE TY

PERM IT CHEC K

List every permit and license your specific business type requires, with a target date for each.

Check Yourself □ What food-safety certification or permit does your specific business model require? □ Where are the highest-risk points in your production process? □ What compliance documentation should be current and easy to produce? □ Which compliance item has the longest lead time?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 8

Legal Foundations, Entity Structure & Risk Management WHY THIS SESSION MATTERS

Get the business legally sound and protected as it prepares to scale.

YOUR WORK PRODUCT

Legal & risk checklist: entity, contracts, insurance — due Week 9.

What You Need to Know Entity structure and ownership 

  

Sole proprietorship offers no liability separation — a real exposure in food, where illness claims are possible. An LLC provides liability protection with flexible taxation and is the common starting point. An S-corp election can reduce self-employment tax once profits reach a certain level; the threshold is business-specific. Multi-owner businesses need a written operating agreement covering decision rights, contributions, and exit — before there is a dispute. Entity structure and ownership Contracts, leases, and vendor agreements Insurance essentials

Contracts, leases, and vendor agreements    

Read for the exit: term length, renewal, termination rights, and what happens if you need to leave. Leases deserve the most scrutiny — personal guarantees, escalation clauses, and use restrictions can trap a business. Vendor agreements should specify pricing, delivery windows, quality standards, and remedies for failure. Customer and catering contracts need scope, payment terms, deposits, and cancellation policies in writing.

Insurance essentials    

General liability covers third-party injury and property damage — the baseline requirement most buyers demand. Product liability matters for anyone selling packaged or prepared food that leaves the premises. Workers' compensation is required once you have employees in New York, with no practical exceptions. Institutional and corporate buyers set minimum coverage levels — inadequate insurance disqualifies you from contracts.

Employment law and risk management  

Employee versus independent contractor classification is enforced strictly — misclassification penalties are severe. Wage-and-hour rules cover minimum wage, overtime, spread of hours, and required recordkeeping. New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

 

Document everything: offer letters, job descriptions, handbooks, and disciplinary records. Risk management is a routine, not a one-time fix — schedule an annual review of entity, contracts, and coverage.

Put It Into Your Business ENTIT Y CHEC K

State your current entity and one reason it does or no longer does fit your plan.

CONTRA CT CHECK

Open one live contract or lease and mark every clause you cannot explain in plain language.

Check Yourself □ Does your current entity structure still fit the risk and growth of the business? □ Which contract clauses should you understand before signing? □ What insurance coverage does your business need? □ What legal or people-management risk needs immediate attention?

New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 9

Supply Chain, Inventory, Suppliers & Technology WHY THIS SESSION MATTERS

Optimize resources and lower costs through better operations and technology.

YOUR WORK PRODUCT

Supply chain, inventory & technology improvement plan — due Week 10.

What You Need to Know Inventory management and waste 

  

Food cost percentage is the core metric: cost of goods sold divided by revenue, tracked consistently. Par levels set the right stock for each item so you neither run out nor over-order perishables. FIFO rotation, dated labeling, and disciplined receiving are the cheapest waste reductions available. Track waste explicitly for two weeks — most owners are surprised by where it concentrates. Inventory management and waste Supplier relationships and negotiation Technology that earns its cost

Supplier relationships and negotiation    

Leverage comes from volume, reliability, and payment history — build all three deliberately. Negotiate more than unit price: payment terms, delivery frequency, minimums, and substitution policy. A second qualified source for critical ingredients protects against outages and improves your pricing position. Consolidating spend with fewer suppliers usually earns better terms than spreading it thin.

Technology that earns its cost    

POS systems capture sales data that drives menu decisions — not just payment processing. Bookkeeping software connected to your bank is what makes the Week 12 and 13 financial work possible. Inventory and ordering tools pay off once manual tracking starts consuming real hours. Delivery platforms bring volume at a real commission cost — model the margin before expanding onto them.

Continuous improvement as a routine    

Small recurring reviews beat occasional overhauls: monthly on cost, quarterly on suppliers. Standardize recipes and processes — consistency lowers cost, improves quality, and makes training possible. Measure before and after any change, or you will not know whether it worked. Feed the savings into the Week 12 forecast; operational gains show up directly in margin.

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INVENTO RY + COST

Set par levels for your five highest-volume ingredients and calculate your food cost percentage.

SUPPLI ER TERMS

Script and rehearse the specific terms ask you will make to one supplier this month.

Check Yourself □ How do you calculate food cost percentage? □ Which ingredients need par levels and backup suppliers? □ What supplier term could you negotiate besides price? □ What technology earns back its cost in time, data or dollars?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 10

Team, Hiring & People Management WHY THIS SESSION MATTERS

Build and manage the team needed to deliver and scale.

YOUR WORK PRODUCT

Team & hiring plan with labor-cost targets — due Week 11.

What You Need to Know Roles and org design 

  

Start from the work, not the titles: list every recurring task, then group tasks into roles. Identify what only the owner can do, and plan to delegate everything else over time. The first hire should relieve the owner's biggest constraint — usually production or front-of-house. Write real job descriptions; they drive hiring, training, evaluation, and accountability. Roles and org design Hiring, onboarding, and retention Scheduling, labor cost, and productivity

Hiring, onboarding, and retention    

Hire for reliability and attitude; food skills can be trained, showing up on time cannot. A structured interview with the same questions for every candidate produces fairer, better decisions. Onboarding drives early turnover: the first two weeks determine whether someone stays. Retention levers at small scale are respect, predictable scheduling, growth, and fair pay — not just wage rate.

Scheduling, labor cost, and productivity    

Labor cost percentage — labor divided by revenue — is the metric to manage against a target. Schedule to forecasted demand, not habit. Overstaffed slow shifts quietly destroy margin. Cross-training creates flexibility and reduces the risk of a single absence disrupting service. Track sales per labor hour to see whether productivity is improving or just headcount rising.

Culture and leadership for owner-operators    

Culture is what the owner tolerates and rewards, communicated by behavior rather than statements. Clear expectations and consistent feedback prevent most performance problems from developing. Short regular check-ins outperform annual reviews in a small team. Owner burnout is a genuine business risk — building the team is how you protect the business from it.

Put It Into Your Business

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

OWNER 'S ROLE

HIRIN G CHEC K

List everything you personally did last week, then mark each item keep, delegate, or eliminate.

Write three structured interview questions for your next hire and what a strong answer sounds like.

Check Yourself □ Which tasks should only the owner do, and which should be delegated? □ What should a structured interview reveal? □ How do you calculate labor cost percentage? □ What behavior does your business currently reward or tolerate?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 11

Corporate Procurement Readiness & Certification WHY THIS SESSION MATTERS

Give owners the tools to win contracts and sell to institutions and corporations.

YOUR WORK PRODUCT

Procurement toolkit: capability statement + M/WBE started + target-buyer list — due Week 12.

What You Need to Know The procurement landscape 

  

Institutional buyers — hospitals, schools, universities — offer volume and stability with demanding requirements. Government contracting runs through formal portals with published solicitations and strict compliance. Retail and wholesale require consistent supply, packaging compliance, and margin structures that survive distribution. Corporate buyers, including sponsors like PepsiCo, often maintain supplier diversity programs with dedicated pathways. The procurement landscape M/WBE certification Capability statement and line sheet

M/WBE certification    

Certification is available through NYC Small Business Services and New York State Empire State Development. Certified businesses are listed in the city's online directory of certified businesses, where buyers actively search. New York State's M/WBE participation goal is 30%, which creates real demand for certified suppliers. Certification requires documentation — ownership, control, and residency proof — so start early and keep records organized.

Capability statement and line sheet    

A capability statement is one page: core competencies, differentiators, past performance, certifications, and contact details. A line sheet lists products with specifications, pack sizes, pricing tiers, and lead times. Buyers scan these in under a minute — lead with what you deliver and what proves you can. Include your certifications, insurance, and capacity; those answer the buyer's first three questions.

Meeting buyer requirements and building the target list    

Typical requirements: insurance minimums, food safety certification, capacity proof, W-9, and payment terms tolerance. Institutional payment terms can run 30–90 days — model that cash gap before signing. Register where buyers look: certification directories and procurement portals such as PASSPort. Build a target list of ten buyers with the contact, the requirement gap, and your next action for each.

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Put It Into Your Business BUYER READINE SS

Name your two most realistic buyer categories and what each would require of you today.

CERTIFICATI ON

Start your M/WBE certification application.

Check Yourself □ Which buyer category is most realistic for your business right now? □ What does M/WBE certification help a business do? □ What belongs on a capability statement or line sheet? □ What is the biggest gap between your business and buyer readiness?

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BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

WEEK 12

Financial Management: Costing, Pricing, Budgeting & Forecasting WHY THIS SESSION MATTERS

Build a multi-year financial forecast that shows the business is profitable and sustainable as it scales.

YOUR WORK PRODUCT

Preliminary three-year financial forecast with costing, pricing, and a first-year budget — due Week 13.

What You Need to Know Costing and true cost of goods sold 

  

Cost every recipe to the unit: each ingredient at purchase price, adjusted for yield and trim loss. Include what owners forget — packaging, condiments, disposables, and shrinkage. Direct labor belongs in cost for prepared items where it varies with volume. Recost quarterly, or whenever a key ingredient price moves materially. Stale costing produces confident wrong decisions. Costing and true cost of goods sold Pricing and gross margin by channel The annual operating budget

Pricing and gross margin by channel    

Gross margin is revenue minus cost of goods sold, expressed as a percentage — the number pricing must protect. Each channel carries different costs: delivery commissions, wholesale discounts, and catering labor all change the math. Set a target margin per channel and work price backward from it, rather than pricing off competitors alone. Value-based pricing outperforms cost-plus when your Week 2 differentiation is real.

The annual operating budget    

Project revenue by channel using volume times price, not a single blended guess. Separate fixed costs (rent, insurance, base labor) from variable costs (ingredients, commissions, hourly labor). Budget monthly — seasonality is severe in foodservice and annual averages hide cash crunches. Document every assumption beside the number so the forecast can be defended and revised.

Building the three-year forecast  

Year 1 is monthly and grounded in current performance. Years 2 and 3 can be annual with stated growth drivers. Growth must be driven by something specific — a new channel, added capacity, or a signed contract — never a flat percentage. New York Urban League · Small Business Solutions Center

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 

Forecast cash separately from profit: payment terms from Week 11 mean profitable months can still be cash-negative. Identify the point where capital is required. That number becomes your Week 14 ask.

Put It Into Your Business RECIPE COSTIN G

Cost one recipe completely — ingredients, yield loss, packaging — and compare it to what you assumed.

MARGI N CHECK

Build a margin table showing price, cost, and gross margin for every channel you sell through.

Check Yourself □ What costs belong in the true cost of a recipe or product? □ Why can the same product need different pricing by sales channel? □ What assumptions drive your Year 1 budget? □ What specific drivers support Years 2 and 3 growth?

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WEEK 13

Financial Management: Forecasting Continued WHY THIS SESSION MATTERS

Continue working on forecasting, with time for questions, and a wrap-up with basic financial statements.

YOUR WORK PRODUCT

Finalized three-year financial forecast with costing, pricing, and a first-year budget — due Week 14.

What You Need to Know Forecast clean-up (working session) 

  

Check that every assumption is documented and that the growth drivers are specific. Verify the arithmetic ties: revenue less costs equals profit, and cash flow reconciles to the profit line. Stress-test the downside: what happens to cash if revenue lands 20% below plan? Confirm the capital requirement and its timing — this feeds directly into Week 14. Forecast clean-up (working session) The three core financial statements Reading the numbers with ratios

The three core financial statements    

The P&L shows profitability over a period: revenue, cost of goods sold, operating expenses, and net income. The balance sheet is a point-in-time snapshot: assets, liabilities, and owner's equity, which must balance. The cash flow statement tracks cash actually moving — the statement that tells you whether you can make payroll. Profit and cash are different. Profitable businesses fail from running out of cash, especially with long payment terms.

Reading the numbers with ratios    

Gross margin and net margin show whether pricing and cost control are working. Current ratio — current assets over current liabilities — signals short-term solvency. Food cost and labor cost percentages are the operational levers you can actually move week to week. Trend direction matters more than any single month; compare against your own history first.

Bookkeeping and tax planning    

Separate business and personal finances completely — commingling undermines the entity protection from Week 8. Reconcile monthly. Books reconstructed at year-end are inaccurate and expensive to fix. Foodservice tax considerations: entity election, deductible expenses, sales tax collection, and quarterly estimated payments. Set aside tax money as it is earned rather than finding it in April. New York Urban League · Small Business Solutions Center

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Put It Into Your Business FORECA ST CHECK

Audit a peer's forecast and challenge three of their assumptions.

FINANCIA L STATEME NTS

Sort a set of line items onto the correct statement — P&L, balance sheet, or cash flow.

Check Yourself □ Why are profit and cash not the same thing? □ What does each of the three core financial statements tell you? □ What do gross margin, net margin and current ratio help you assess? □ What bookkeeping or tax-planning routine needs to become monthly discipline?

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WEEK 14

Access to Capital: Grants & Loans WHY THIS SESSION MATTERS

Build a capital-readiness package and a realistic funding map.

YOUR WORK PRODUCT

Capital-readiness package and funding map with a defined ask — due Week 15.

What You Need to Know Sources of capital and their trade-offs 

  

Grants are non-dilutive and need no repayment, but are competitive and often restricted in use. Microloans and CDFI lending serve businesses banks decline, with more flexible underwriting and support attached. Lines of credit smooth working capital gaps — well suited to the payment terms discussed in Week 11. Equity is rare and expensive for foodservice microbusinesses; treat it as a last resort, not a goal. Sources of capital and their trade-offs What funders evaluate The capital-ready package

What funders evaluate    

Capacity to repay, demonstrated by the cash flow forecast built in Weeks 12 and 13. Character and track record, including credit history and how you have handled past obligations. Clean documentation: financials, tax filings, entity papers, licenses, and insurance from Weeks 7 and 8. Use-of-funds discipline — a specific plan showing what the money buys and what it returns.

The capital-ready package    

Core contents: three-year forecast, recent financial statements, the one-page strategic plan, and compliance documentation. The narrative connects the numbers: what the business does, why it wins, and what the capital unlocks. State the ask precisely — amount, purpose, timing, and repayment or outcome expectation. Vague asks read as unprepared. 'Some funding to grow' fails; '$45,000 for a second prep station, repaid over 36 months' works.

Building the funding pipeline    

Treat funding like sales: maintain a pipeline of multiple opportunities at different stages. Track deadlines, requirements, and decision timelines — grant cycles are unforgiving of late applications. Sequence applications so the strongest-fit opportunities get your best effort. The PepsiCo grant at Demo Day is one line in this pipeline, not the whole plan.

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Put It Into Your Business CAPIT AL MATC H

Match your specific capital need to the two best-fit sources and say why.

FUNDER READINE SS

Score yourself against the four things funders evaluate and identify your weakest.

Check Yourself □ Which capital source best matches your specific use of funds? □ What evidence shows a lender that the business can repay? □ What belongs in a capital-ready package? □ Can you state your ask in one paragraph: amount, use, timing and expected return?

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WEEK 15

Pitch Development & Rehearsal WHY THIS SESSION MATTERS

Assemble everything into a compelling, judged pitch — and rehearse it.

YOUR WORK PRODUCT

FINAL: pitch deck + tasting plan, rehearsed.

What You Need to Know Pitch structure 

  

Six beats in five minutes: problem, product, strategy, traction, financials, and the ask. Open with the problem and your specific connection to it — the Week 5 narrative does this work. Traction is the credibility hinge: revenue, repeat customers, contracts, and certifications earned. Close on a clear ask and what it unlocks. Never end on 'thank you' alone. Building the deck from your artifacts Presenting food to a professional panel Dry runs and handling Q&A

Building the deck from your artifacts    

Nearly every slide already exists: positioning (Wk 2), market (Wk 4), brand (Wk 5), plan (Wk 6), forecast (Wk 12–13), ask (Wk 14). One idea per slide. Judges read ahead — dense slides compete with your voice. Show numbers visually and label the axes; unlabeled charts invite skeptical questions. Keep an appendix for detail so you can answer deep questions without cluttering the main flow.

Presenting food to a professional panel    

The tasting is scored — plan portioning, temperature, timing, and presentation as carefully as the slides. Serve the item that best proves your positioning, not simply your personal favorite. Prepare for dietary questions: ingredients, allergens, and sourcing should be answerable instantly. Logistics matter: transport, holding, and setup have sunk otherwise strong pitches.

Dry runs and handling Q&A    

Rehearse aloud and on time. Silent review does not surface pacing problems. Anticipate the five hardest questions and prepare crisp answers, especially on margins and capacity. If you do not know an answer, say so and commit to following up — judges respect that over bluffing. Peer feedback is targeted: one thing that landed, one thing to cut, one thing to clarify.

Put It Into Your Business PITCH

Outline your six pitch beats on one page with a time budget for each. New York Urban League · Small Business Solutions Center

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STRUCTU RE

DEC K BUIL D

Map your existing artifacts to slides and identify the one slide still missing.

Check Yourself □ What are the six beats of the five-minute pitch? □ Which existing program artifacts can become pitch slides? □ What does the tasting need to prove about your positioning? □ What five hard questions should you be ready to answer?

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Final Integration: Can Your Business Tell One Story? By the end of the accelerator, the pieces should agree with one another. Your customer should match your positioning. Your operations should support the promise. Your pricing should support your margin. Your forecast should support the capital ask. Your pitch should reflect the business you actually built. POSITIONING

What makes this business worth choosing?

CUSTOMER

Who specifically is most likely to buy, return and refer?

OPERATIONS

Can the business deliver consistently, safely and profitably?

PEOPLE

Who does the work, and can the business function beyond the owner?

NUMBERS

Do costing, pricing, margins, budget, forecast and cash needs make sense together?

READINESS

Can you produce the compliance, procurement and funding documents a buyer or lender will ask for?

PITCH

Can you explain the opportunity, proof and ask clearly in five minutes?

Your final one-sentence test If someone asks, “Why this business, why now, and why you?” can you answer without reaching for a slide? ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ New York Urban League · Small Business Solutions Center

BLACK RESTAURANT ACCELERATOR PROGRAM | STUDENT STUDY + ACTION GUIDE

Quick Reference: Numbers & Business Tests Food cost %

Cost of goods sold ÷ revenue. Track consistently and use it to understand whether product cost is under control.

Labor cost %

Labor ÷ revenue. Manage against a target rather than scheduling by instinct alone.

Gross margin

Revenue minus cost of goods sold, expressed as a percentage. Pricing must protect it.

Net margin

Use it with gross margin to assess whether pricing and operating cost control are working.

Current ratio

Current assets ÷ current liabilities. Used in the program to assess short-term solvency.

VRIO

Ask whether a resource/capability is Valuable, Rare, hard to Imitate, and whether the business is Organized to exploit it.

Capital ask

State the amount, use, timing and expected return or business result.

Five-minute pitch

Problem, product, strategy, traction, financials and the ask.

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