Business plan samples restaurant by tomsexjedi

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Business plan samples restaurant

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									Business plan samples restaurant




The preparation of a strong and detailed business plan is essential for a restaurant
business for several reasons. Firstly, you will need it to be able to convince others, such
as bank managers or investors of the viability of your plans. Secondly, it will be useful to
you as the business owner as a place to compile your research findings, set goals and to
run some hypothetical scenarios about how the business could run if things go better or
worse than expected. Below we have outlined the key components of a business plan for
a restaurant start-up.

Executive Summary

This part of the report should only be about one page in length and should introduce the
reader to your proposal. Firstly you can set out your personal background and why you
are interested in starting a restaurant. Secondly you should include basic details of your
proposal such as the location that you have or are looking for, the theme or style of the
restaurant, the kind of food that you will serve, whether of not you will be licensed and
the type of clientele that you wish to target.

Mission Statement

Take some time to describe the kind of business that you want to be in terms of your
business philosophy and values. Think about what you really want to achieve, financially
and otherwise. Consider how you want to be perceived in the eyes of your customers and
by the local community.

Objectives

Set out a timeline that highlights the goals that you have for the restaurant business in the
short and medium term. Gauge your progress and success by setting a variety of targets
such as daily and monthly gross sales, percentage of full restaurant capacity reached on a
consistent basis, and how long it takes to get the first course on the table from the point
that the order was taken for example.

Ownership Structure, Management and Employees

List any people that have an ownership stake in the business and their respective
interests. Also set out a management plan so that there are no arguments when it comes to
making decisions if there is more than one owner. Estimate the number of employees that
will be needed initially and set out a schedule to hire more as the restaurant grows in
popularity.

Start-up Requirements and Operating Costs
Set out a comprehensive list of everything that will be needed for the restaurant to start as
planned. Try to think of every little detail as you compile a list of equipment, building
renovations, other supplies and compliance costs. You also need to estimate the amount
that is needed for monthly operating costs and some entrepreneurs will allow for several
months of operating costs when they calculate total start-up costs as revenue will be slow
at first.

This is also a good part of the report to include details of how the restaurant startup will
be funded and the sources of finance that you, as the owner have available.

Location and Competition

Set out your reasons for wanting to locate your restaurant in a specific location. Include
details of all local competitors and how you propose to differentiate your restaurant in a
way so as to allow you to stand out and compete with them. You should be able to show
that there is a local market that is not being met by your competitor's offerings and
suggest ways of meeting this demand. It is helpful here to back up your reasoning with
some demographic data or market research.

A Marketing Plan

Marketing is one of the most important factors contributing to the success of a new
restaurant. Discuss your target market in detail and how you plan on packaging an
experience that suits their tastes in the way of food, music, theme and atmosphere. Give
details as to how the dining experience that you create will be branded with a name and a
logo and how you will live up to your brands promises and reputation in a way that
strengthens your brand over time.

Talk about pricing and include a list of proposed menu items with proposed prices.
Consider how your prices will compare with other restaurants in the area and how the
value that you offer would be comparable or better than what they have to offer. Estimate
what the average customer will spend at your restaurant.

Lastly, set out some methods that you feel could work well for adverting and promoting
the restaurant.

Financial Analysis

Set out some financial projections for your first three years in business. Estimate monthly
cash flows coming in and out of the business and set these out in a spreadsheet. Change
your figures to allow for a variety of different scenarios in the case that things go worse
or better than expected. You will then have a fair idea of how profitable your restaurant
will be if it runs according to your plans.

Entrepreneurs would be crazy to open a restaurant in the U.S. in the 21st century without
a well thought through and researched business plan. A business plan will help your
restaurant to get started off right, avoid unnecessary mistakes and to consistently proceed
in the direction that you need to go to ensure that your long term goals are met.


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