free restaurant business plan

Business Plan Partner(s): Pub Name: Business Plan Prepared By: Pub Address: Date: Will trade as: (Please consult your financial advisor regarding the appropriate status for your business). Sole Trader Partnership Limited Co The following is a format business plan, which is intended to help you clarify YOUR ideas on running YOUR own business. Don’t worry if you can’t go into every detail of the business at this stage - this is just the first step in the process. Your Operations & Sales Manager will be able to provide you with further planning tools once you are in the pub, including a Promotions Plan. This Business Plan should be the result of careful consideration, research and planning and you may wish to include thoughts and ideas which are not already noted on the following pages. If it is successful, this plan could determine your future but, even more importantly, it should help you decide if this is truly the business for you. PLEASE NOTE: If you are unable to complete any questions due to lack of space provided, please use the “notes” pages at the back of this document. About You What appeals to you about running a pub? What relevant skill, experience and knowledge do you bring to the business? Think about catering, general retailing, people, communication, business skills and your ability to train others. About Your Business Partner Do they have the same/different/complementary skills? Would you or your partner (or both) be giving up current paid employment to take on this business? If so, please detail the estimated value of any income and benefits (eg. Pension Plan) that you would be giving up. How would you describe the general health of both you and your partner? (if intending to work in the business) About The Pub This format will help you focus on the key elements Strengths: What does the business have going for it? (e.g. Location, reputation, staff, etc...) Weaknesses: What and where are the “chinks in the armour”? (e.g. Decor, layout, external appearance) What is restricting the growth of the business? (i.e. Things you can’t control/change) Opportunities: What can you do to improve the pub's current performance? (e.g. Service standards, cleanliness etc...) Threats: What could threaten your plans or the future success of the business? (e.g. Factory closure, road schemes, pub reputation etc...) Tell us what you know about the pub you are applying for. Staff: What are your plans to improve existing staff performance? (e.g. Training, uniforms, staff rotas, service standards, etc...) About The Pub (continued) Customers: Local Who are the major customers currently visiting the pub? (Tick as many boxes as necessary) Business Shoppers Tourists Sports Fans Other If other, please specify: At the moment who are they? In the future: Where will they come from? Competitors: Who are they? What makes them a threat? What would you like your pub to be known for? (e.g. Best steak pie, friendliest staff, colourful customers) What are the top 3 ways to build sales? (e.g. Developing food, unused areas, new customers, etc...) How will you turn these opportunities into sales (e.g. Lunchtime “Shoppers Special”, etc...) What are the costs involved? (e.g. Promotion, printing, advertising, etc...) Your Goal Summarise what you want to achieve when you take on the business Personal Goals Financial Goals Think about your regular financial commitments. Other considerations What concerns do you have about taking on this type of business? What independent, professional advice (if any) have you already taken on going into a new business? What additional training do you or your partner require to operate the business successfully? How Much Is Your Business Going To Take? (See Glossary of Terms in the back pocket for help in completing this section.) Enter weekly projections and multiply by 52 to calculate the annual figures. Computer model is available on disk in the back pocket; this will do the calculations automatically. (Projections should be EXCLUSIVE of VAT) PROJECTED PROFIT & LOSS ACCOUNT FOR FIRST YEAR OF TRADING PROJECTED INCOME (Turnover) Liquor (Wet Sales) Less Cost of Sales Gross Profit Food (Dry Sales) Less Cost of Sales Gross Profit TOTAL GROSS PROFIT Other Income Gaming Machines Accommodation (If applicable) Other (e.g. Functions) Total Other Income GRAND TOTAL Weekly £ Annual £ a b (a+b=A) A B (A+B=C) C Notes How Much Is Your Business Going To Take? (continued) PLEASE NOTE, THE LIST BELOW IS NOT A FINITE LIST OF COSTS; IT IS INTENDED AS A GUIDELINE ONLY AND YOU SHOULD ANTICIPATE COSTS ACCORDING TO YOUR OWN PLANS FOR THE BUSINESS. PROJECTED EXPENDITURE (Overheads) Rent + Franchise Fee Rates (General & Water) Cleaning Insurance Equipment Hire Machine Rental Wages: Bar Staff Kitchen Staff Cleaning Electricity, Gas & Oil Plants & Flowers Repairs & Renewals General Administration Vehicle Costs (Tax, Insurance, Running Costs etc...) Entertainment Advertising Licenses Legal & Professional Costs Maintenance Bank Charges Subscriptions Other Please specify: Weekly £ Annual £ TOTAL COSTS TOTAL GROSS PROFIT (See previous Page) TOTAL NET PROFIT D C (C-D=E) E THIS DOES NOT INCLUDE PERSONAL DRAWINGS (i.e. Cash taken for your own, personal use - See overleaf) Notes Personal Requirements/Commitments ANNUAL EXPENDITURE (These are costs you will incur outwith the business) Mortgage or Domestic Rent Council Tax Water Rates Utilities Personal and Property Insurance General Housekeeping Expenses Telephone HP Repayments Hire Charges Saving Plans Contingencies Pension Plans Personal Loans Other (Please specify) (TV, Video, etc...) £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ TOTAL EXPENDITURE F £ ESTIMATED ANNUAL INCOME (i.e. Not from the pub) Total Income from Family/Partner Other Income Please state source: £ £ TOTAL INCOME G £ TOTAL MINIMUM INCOME REQUIRED FROM BUSINESS (G-F=H) H £ Your Start Up Costs and Your Financial Resources By completing this section, you will see how you are going to fund taking on the business. We require information on the following: - How much is actually required to set up the business. - How much you are prepared to invest in the business. - How much money you have immediately available. - How much you may have to borrow. - Who do you intend to borrow from? - What further financial advice do you need? INGOING CAPITAL Fixtures & Fittings Till(s) Deposit Stock Advance Rent Insurance & Franchise Fee Initial Franchise Fee Licence Application Fee Valuer's Fee Solicitor's Fee Other TOTAL INGOING Total Capital Required: (add Total Ingoing and Total Working) £ WORKING CAPITAL Utilities (Deposits & Connection Charges) £ Business Rates Water Rates Insurances Maintenance & Service Contracts Wages Cash Floats Stock Purchases Entertainment Other I (I+J=K) K TOTAL WORKING J £ Source Availability FINANCIAL RESOURCES Cash Equity in Property Shares Existing Loans Amount £ (eg. Immediate, 90 Days, etc.) N/A N/A TOTAL CAPITAL AVAILABLE Less TOTAL CAPITAL REQUIRED POTENTIAL SHORTFALL (L-K=M) This represents the amount you may have to borrow L K M Useful Web Sites Business Support Services Alliance of Independent Retailers: British Franchise Association: Business Connect Wales: Business Link: Confederation of British Industry: Employment Zones: Enterprise Zone: Federation of Small Businesses: Forum of Private Businesses: Institute of Directors: Lawyers for Your Business: Livewire: National Federation of Enterprise Agencies: (Small Business Advise) Prince’s Trust Business Division: Trade Association Forum: www.indretailer.co.uk www.british-franchise.org.uk www.bc-wales.org.uk www.businesslink.co.uk www.cbi.org.uk www.dfee.gov.uk www.enterprisezone.org.uk www.fsb.co.uk www.fpb.co.uk www.iod.co.uk www.lfyb.lawsociety.org.uk www.shell-livewire.org www.nfea.com www.wiredup.net www.taforum.org.uk Training and Development Careers Service: Investors in people (IIP): Learning Direct: Modern Apprenticeships or National Traineeships: National Training Awards: Training and Enterprise Councils: www.dfee.gov.uk/cidhome.htm www.iipuk.co.uk www.lifelonglearning.co.uk www.dfee.gov.uk/mapintro.htm www.open.gov.uk/dfee/nta/index.htm www.tec.co.uk/map/index.html Employing People Advisory, Conciliation and Arbitration Service (ACAS): Commission for Racial Equality: Disability Discrimination Act (DDA): Equal Opportunities Commission: National Minimum Wage: New Deal: Time Off for Study or Training: Working Time Regulations: www.acas.org.uk www.cre.gov.uk www.disability.gov.uk www.eoc.org.uk www.dti.gov.uk/er/nmw www.newdeal.gov.uk www.dfee.gov.uk/tfst.htm www.dti.gov.uk/workright Other Business Issues Benchmark Index: British Standards: Companies House Services: Customs and Excise: Direct Access Government: Environment and Energy matters: Euro: Health and Safety Executive: Inland Revenue: Insolvency Service: www.benchmarkindex.com www.bsi.org.uk www.companies-house.gov.uk www.hmce.gov.uk http://tap.ccta.gov.uk/dagii/welcome.nsf www.etsu.com/etbpp www.euro.gov.uk www.open.gov.uk/hse/hsehome.htm www.inlandrevenue.gov.uk www.open.gov.uk/insolv_s/insolvhm.htm Useful Publications There are a variety of government publications which can be obtained free from: DTI Publications Unit, Tel: 020 7215 6024 Minicom: 020 7215 6740 e-mail: pubs.unit@dti.gsi.gov.uk See Web site www.dti.gov.uk/publications for more information or phone the telephone number above. Notes Notes 0500 22 23 24 www.pub-enterprises.co.uk First Impressions Competitors Survey Key: 1 = Excellent 2 = Good 3 = Acceptable 4 = Average 5 = Poor Your Pub Outlet Names Your Competitors Retail Environment Outlet is visible on approach External appearance inviting Chalkboards and signage in good condition Atmosphere is clean and fresh Toilets signed, clean and hygienic Music/entertainment appropriate to outlet image Single themed decoration appropriate to outlet image Bar servery and public areas clean and well maintained A. B. C. Actions to consider Signage, directions, illumination on Clean up, remove old signs/stickers, drawback or remove curtains, clean windows and paint work Review information, resite, maintain Check ventilation, consider smoke filters Re-site signs, new signage, cleaning rota, redecorate Review music supplier to target customers Review bric-a-brac and furniture catalogues Check all areas, remove clutter, clean up Service Style and Type Easy access to bar Acknowledgment and friendly greeting Staff appearance reflects image Quick and efficient service Acknowledge on leaving Actions to consider Trace actual route from door to bar Staff training in customer service Review clothing and uniforms Staff training in customer service, pouring Staff training in customer service Quality and range of products Clean and correct glass, beer looks good and tastes good Drinks range reflects largest number of customers Menu visible and easy to understand, easy to order Quick and efficient service Food looks good, tastes good Actions to consider Replace glassware, check glass washer, train staff, use glass cleaner, check sparkler in place Review local market performance Review range, snacks v meals, spicy v plain, vegetarian, too many items Staff training in food service skills, review till system Staff training, visits to good outlets Selling-Active Staff understand products and make recommendations Staff actively sell Actions to consider Product knowledge training Train staff on assessing customer needs Selling Passive POS, Chalkboards give clear message POS, Chalkboards positioned in customer eye-line Product displays in hot spot Cold cabinets well stocked/displayed Good draft product layout founts lit Actions to consider Renew chalkboard design Re-position Create displays, change weekly Stock with key brands in blocks Group like categories, lead brands in hot spot Your Pub Survey Interior/Exterior Condition Public Lounge Restaurant Function Room Children's Room Garden Car Park Toilets Other New Old Need Re-Furb Comments Do you have an entertainment licence? Yes No Do you have a children's certificate? Yes No Activities Quiz Nights Live Music Theme Nights Bingo Sports Teams Disco Karaoke Pub Games SKY TV Other Frequency Day Cost Sales Promotions Reduced Price Scratch Card Collector Schemes Happy Hour Food Offer Special Events Frequency How effective? (1 -5) Comments How do you promote your Business? (rank in order of usage) Direct Mail Posters Chalkboards Local Press ‘A’ Boards Leaflets Local Radio Other Competitor Pricing Survey Pub Standard Ale Lager Premium Ale Lager Budweiser Bottled Beers Beck’s MGD Alcopops Other Bacardi Breezer Smirnoff Ice Wine (Glass) Cider (Pint) 0500 22 23 24 www.pub-enterprises.co.uk Glossary of Terms NOTES TO HEADINGS ON PROFIT AND LOSS ACCOUNT (All items exclusive of VAT) Narrative Detail TURNOVER Sales - Wet Sales - Dry Accommodation Functions Sales of Beers, Ciders, Wines and Spirits, Soft Drinks, Tobacco and Light Bar Snacks (eg crisps, nuts, etc) Food Sales Income from room hire Income from functions held COST OF SALES Purchases - Wet Purchases - Dry Purchases of Beers, Ciders, Wines and Spirits, Soft Drinks, Tobacco and Light Bar Snacks (eg crisps, nuts, etc) at cost Purchases of food at cost OTHER INCOME Telephone Income Bank - Building Society Int. Machine Income Income received from payphones Interest received from bank deposit and building society accounts Net income from AWP/SWP, eg gaming machines, juke boxes, pool tables, etc OVERHEADS WAGE COSTS Bar Staff Kitchen Staff Cleaning Staff Staff Drinks and Meals Gross wages (inc PAYE/NIC/Family Tax Credit) re bar staff Gross wages (inc PAYE/NIC/Family Tax Credit) re kitchen staff Gross wages (inc PAYE/NIC/Family Tax Credit) re cleaning staff Drinks and food given to staff as detailed on stock report PREMISES COSTS Commercial Rent Franchisee Fee General Rates Water Rates Cleaning Insurance Equipment Hire Machine Rental Garden and Flowers Electricity, Gas & Oil Rent payable to Landlord 2% of net turnover to include, as per franchise agreement, accountancy costs, stocktaking fees and enhanced business support from SNPE Business rates payable Water charges for business Cost of cleaning materials and any rental or hire of related cleaning equipment Cost of insuring buildings, fixtures, public liability and loss of profits Cost of equipment hire, eg glass washers, tills, etc Cost of rental and licenses re gaming machines, juke boxes, pool tables, etc Expenses relating to maintenance of garden, etc Electricity, gas and oil charges for business REPAIRS Repairs and Renewals Cost of any repairs to existing property or equipment and renewals, eg light bulbs, etc GENERAL ADMINISTRATION Printing, Postage & Stationery Cost of printing letterheads, business cards, stationery and postage costs Telephone Newspapers Training costs Line rental and cost of calls for the business Papers bought for the business Expenses relating to training of personnel VEHICLE EXPENSES Motor Expenses All motoring related costs re cars used for business, eg petrol, insurance, tax, etc. Keep mileage records for business use for taxation purposes ADVERTISING, PROMOTION AND ENTERTAINMENT Advertising Entertainment Satellite TV Licenses Team Expenses Promotional Food and Drink Advertising to promote the business or for staff recruitment Cost of live bands, karaoke, etc incurred to attract customers Cost, eg rental charges for providing satellite TV All licenses in connection with the business Cost of any food or drink given free to pub teams, eg darts, pool, etc Expenses relating to promotion and marketing LEGAL AND PROFESSIONAL COSTS Stocktaking Accountancy Professional and Legal Fees Additional stocktaking costs not covered by franchise fee Cost of additional accountancy and taxation work not covered by franchise fee Payments to Surveyors, Architects, Valuers, Solicitors, Payroll Bureaux MAINTENANCE Renewals of Small Kitchen Equipment Renewals of Uniforms Menu Cards and Napkins Crockery, glass and other kitchen utensils FINANCIAL CHARGES Bad Debts Bank Charges Credit Card Charges Bounced cheques, forged bank notes, etc Charges and interest related to operating the business bank account Charges, eg commission, rental, etc re credit cards, swipe machines, etc OTHER Subscriptions Sundries Business related subscriptions Usually low cost items not falling into any other expense category, or one-off non-recurring costs 0500 22 23 24 www.pub-enterprises.co.uk