Start this section with the name of the restaurant you are opening along with the location, contacts, and other relevant information. An executive summary is imperative for those looking to get investors to fund their project. This section should fully flesh out the restaurant management team. Depending on who you are presenting your business plan to, you can change the order of the sections to reflect priority. Briefly explain the services theyll be providing for you, why you chose them, and any notable accomplishments.
Will your restaurant have counter service designed to get guests on their way as quickly as possible, or will it look more like theater, with captains putting plates in front of guests simultaneously? Management team, write a brief overview of yourself and the team you have established so far. No one will invest in a restaurant that doesnt have a solid plan for how its going to succeed and make money. If youre thinking to yourself, Seems like a lot of work. Do you have a great idea for a restaurant that you just know is a winner?
What to Include in a Restaurant Business Plan. Employees The company description section of the restaurant business plan briefly introduces the owners of the restaurant with some information about each. This section aims to explain your target market to investors and why you believe guests will choose your restaurant over others. The strongest business plans always include all or most of the components described below. It is crucial that whoever you retain to help you with your financials has a wealth of restaurant experience (not just one or two places as they should be familiar with the specifics of restaurant finances and know what questions to ask you. Proposed concept, execution, brief look at potential costs, expected return on investments. Discuss the current economic conditions that could make opening a restaurant difficult, and how you aim to counteract that. No matter how much thought youve put into your concept or how many trusted colleagues have assured you of its greatness, you absolutely must write a business plan. If youre going to retain a PR/marketing company, introduce them and explain why youve chosen them over other companies (including some of their best-known clients helps).
Being conservative in these estimations is key as these three data points will be used as the basis for figuring out whether your concept is financially feasible. Setting up a budget will help you anticipate all the costs of opening a restaurant there are always more than you expect! He/she will want to know how many seats your restaurant has, what the check average per table will be, and how many guests you plan on seating per day. A few of the most popular ones can be found at the links below. Mention everything from square footage, to typical demographics. At this point you probably dont have a final version, but for a restaurant business plan you should at least try to have a mock-up.
Restaurant business plans outline the progression and development of your restaurant from concept to multi-year strategy. Your sample menu should also include prices that are based on a detailed cost analysis. If you are having trouble coming up with a menu design or dont want to pay a designer, there are plenty of resources online to help. Regardless of how many friends have assured you it will be a success or how many countless hours you've spent coming up with the concept in your head, without properly planning for it your restaurant is doomed for failure. Ready to take the next step? Take note of everything from their prices, hours, and menu design to the restaurant interior. . Has it been something you've thought of doing for years and are finally in a position to make it happen?
LivePlan simplify the creation of a restaurant business plan by guiding you step-by-step through each section and prompting you with questions and examples. Executive Summary, a restaurant business plan should always begin with an executive summary. If youre still feeling overwhelmed and staring at a blank Word doc, there are also online programs that can help. After deciding to make the leap into restaurant ownership, youll need to get investors, landlords, banks, and many others on board to bring it to life. Be sure to highlight both your food and drink options. Below, we have highlighted the key steps you need to take when writing a restaurant business plan that are common across most restaurants. What restaurants have already established a customer base in the area? Because the menu is central to your restaurant and your brand, you should put substantial effort into this part of the restaurant business plan.
Will there be wine pairings or is it a pay-at-the-bar kind of place? The team at Bplans have put together an exhaustive list of restaurant business plan samples perfect for any establishment type. State, select State (USA of HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth IslandSouth CarolinaSouth VirginiaWisconsinWyomingLeave blank if outside of the United States. Once youve described them in detail, reiterate why your specific concept will be appealing to them. This will give investors a clear understanding of your targeted price point, provide the first building block to figuring out average check estimations needed to create financial projections, and show investors that youve done the homework needed. External Help To make your restaurant a reality, you are going to need a lot of help. The most important element to launching your restaurant is by far the menu. While the premise of a fast food restaurant might seem obvious, even fast food restaurant owners need a business plan to justify their ideas. Creating a restaurant business plan is a big step and can seem daunting, but with the right advice and a few restaurant business plan examples, you can create your own.
Include enticing descriptions and use a smartly designed format. Go into detail about the food youll be serving, inspiration behind your concept, and an overview of service style. Most independent restaurant investors are in this for more than just money, so giving some indication of what you value and who you are outside of work may also be helpful. Restaurant Business Plan Samples, have a look through these restaurant business plan samples and see which style most aligns with your type of restaurant. Discuss your pre- and post-opening marketing plan to show investors how you plan to gain traction leading up to opening day, as well as how youll keep the momentum going. M also offers business plans for sports bars specifically. Find pictures of similar aesthetic to what you are looking for in your restaurant.
From servers to management and partners, youll want to include an outline of exactly how many people, and what positions you will need to make your restaurant run on day one. You probably wont have a specific site identified at this point in the process, but you should talk about viable neighborhoods. You will need to work with an attorney to help you determine what business structure is best for you (more tips in the full guide). How to Start a Restaurant Guide. Step two: hire a good attorney. That's where a restaurant business plan comes. Target Customers, an essential question to ask while creating your restaurant business plan is, who are the people that are going to eat at your restaurant? Explain to your investors the importance of each and what they will be doing for your restaurant.
Example of a Bar or Casual Restaurant Business Plan. Put the sections that you feel would be most compelling to someone whos never met you first: the Management Team section if youre coming from high-profile establishments, for example. Example of a BBQ Restaurant Business Plan Profitable Venture has a great example of a barbecue business plan. Restaurant Design The design portion of your restaurant business plan is where you can really show off your thoughts and ideas to the investors. Dont just list everything outget as close to a full-fledged menu as you can.