Although a previous report forecasted a recovery for Baker University Center's dining operations' first-year loss by June 2008, officials say that estimate will not hold.
Dining Services now hopes to recoup a first-year loss of more than $1 million by the end of fiscal year 2009, which begins in July 2008, but even that projection is subject to change, said Christine Sheets, assistant vice president for Auxiliary Services.
We're hoping for that
but it is a guess she said.
The university reported in a February news release that Baker's four retail operations could be out of the red as early as Fall Quarter 2008.
Baker University Center Dining Services comprises Bobcat Essentials, Latitude 39, The Front Room and West 82 food court, all of which lost money in their first year of operation.
Although all but one operation is expected to profit this year, it will not be enough to make up for the first year's loss, Sheets said.
OU allotted Dining Dollars to meal plan holders to introduce them to the new venues, but the overwhelming response exceeded the operation's capacity and was one reason for the phase out of Dining Dollars. Offered only this past Fall Quarter to new incoming students in the amount of $50, Dining Dollars is officially discontinued.- Sheets said.
The fiscal year 2009 projected recovery is a more likely date than in the February release, Sheets said.
Sheets said she corrected the release, adding that a recovery as soon as fall 2008 is premature considering Housing and Dining Services has not had a year without the full effect of Dining Dollars or an opportunity for marketing.
In terms of the short-lived Dining Dollars program, there are no plans for a formal assessment until the end of the fiscal year, said Gwyn Scott, executive director of culinary and dining operations. -
Sheets said. -
you look for three to five years to establish a business
Scott said.-
so three to five years is reasonable.
Sheets is expecting the six months rounding out the academic year to be hugely successful, with a consistent customer base and greater cash sales resulting from the now-terminated Dining Dollars program.-
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