How To Make That Essential Restaurant Business Plan

The restaurant business is probably one of the most competitive industries to get into. While one may open with the highest hopes, another one will be closing in despair. So if you’re considering venturing out into this vast new ocean, you’re going to want to do all you can to stay afloat.

Here are all the basic steps you’ll need in creating your restaurant business plan.

Business Overview

Create your business plan by starting to include any potential investors that you may have. You will then want to think about the theme and style of your restaurant, whether it will be something fancy, or more of a street food style. You’ll also need a name, and a location for your restaurant. You should then mention why you, and your other partners, believe you’re qualified for this industry.

Marketing

How do you plan on promoting your restaurant, and how much are you willing to spend on doing so? List down all the different marketing strategies that you have in mind so you have an idea of how you want to draw in your customers. You may want to go all out and advertise your business on the TV and radio. Or you maybe prefer to start out via social media, local newspapers, flyers, and that all so powerful word of mouth.

Staff Description

You will need a list of all the employees working at your restaurant – regardless of whether you have them yet or not – you just need to mark down every kind of role you will need. So this means managers, human resources, waiters/waitresses, hosts/hostesses, chefs, and kitchen staff, etc. You should also split up all these categories and create the salaries, as well as any bonuses and employee responsibilities. Alongisde this you will need employer’s liability insurance and restaurant insurance.

Suppliers 

Do you have an idea of where you plan on getting all your equipment and appliances from? If not, you’ll need to get in contact with someone. For example, a fridge to go in the kitchen isn’t just something that you can buy in your local stores – it will have to be a commercial, industrial fridge, as well as the freezer, work services, ovens, cookers, and fryers. As well as kitchen-related suppliers you will need to consider who will supply the other areas of your business including your energy.

Also, have a discussion about your inventory and how you plan on managing it so you never over or under order as this is where businesses lose money.

Competition

You will need as much information as possible in order to stay one step above the game, but remember – they will be trying to do exactly the same things too. Compare yourself to other successful restaurants and try and see what you lack – whether it’s just the experience, or maybe they have something better you – like customer service. This is the key to building relationships with customers so they become loyal ones and keep returning.

Now you have a basic idea, take some time to sit and look at all of your plans and ideas with your team. Once everyone understands what needs to be done, you can start crossing things off the list.

 

Michael Foote

Michael Foote, founder of Quote Goat, has over 13 years experience working in the finance, insurance and currency sectors, gaining a financial qualification in 2010-2011. LinkedIn Profile

How To Make That Essential Restaurant Business Plan

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