Are you looking for tips to write a restaurant business plan for your business venture? Here in this article, you will learn the key chapters you must include in your restaurant business plan.
Writing a business plan is a critical step to follow toward launching your upcoming new restaurant. It is an important document wherein you will elaborately brief about the USP of your restaurant, organization, food menus, pricing, how you plan to market, etc. Do remember, it is an indispensable document for restaurant owners looking for business loans from financial institutions.
Here are the 8 Chapters to Include in Your Restaurant Business Plan
1. The Executive Summary
Write a brief summary of your restaurant’s business plan. This is the introduction part of your restaurant business plan. Introduce it, in brief, describing its target audience and business environment.
Write a brief explanation of the unique selling propositions of your restaurant in attracting customers and how it is different from other neighboring restaurants. Try to cover the entire chapter within one to four pages.
2. Business Description
Here you need to write a business description for your restaurant. Start the chapter with the name of your restaurant establishment, its address, and contact information.
Write ownership structure such as sole proprietor or partnership and capitalization plan of the proposed restaurant. If you have partners in your business mention the name, their experience, and contact information of each of the business owners.
Give an overview regarding the fund needed to open the restaurant and how you plan to source the fund. Mention the restaurant’s short- and long-term goals. Briefly address the market scenario of the restaurant business in your locality.
Identify the licensing and permit requirements for your restaurant, along with the steps that your business will take to obtain and maintain those requirements.
3. Market Analysis
Identify the target market for your restaurant business. For that, you need to research the food business industry in your local market. Write in detail about how your business plan to generate these customers. Mention the expense to implement that such as advertisements, commercials, and radio ads.
4. Management Team Structure
Write in detail the number of managers and employees needed to run your restaurant. Mention employees required in departments such as kitchen staff, wait staff, supervisor, etc. Write a job description for each departmental manager with clarity.
Don’t forget to include the costs of salaries and training costs within this description. Try to create an organizational chart with the job responsibilities mentioned.
5. Write About Your Food Menu Items
Do not forget to provide a sample menu card in your restaurant business plan. It will help you and funding agencies to understand what kind of food items are you serving. As a matter of fact, a sample menu mentioned can clear out many questions from the readers in a short time.
6. Marketing Plan
A detailed business plan includes a properly researched marketing plan. Use this chapter on how you plan to the grand opening to ongoing marketing.
Some of the methods normally restaurant owners implement are direct marketing, dinner programs, e-mail campaign, direct mail campaign, local community involvement, in-house marketing, public relations, advertising, etc.
Learn More: How To Promote A Restaurant? 10 Most Unique Ways
7. Financial Plan
This is a very important chapter in your Restaurant Business Plan. Write a personal financial statement for each of the restaurant’s owners, along with a balance sheet, income statement, and cash flow statement for the restaurant.
Never overestimate projections and try to put accurate information as much as possible.
8. Operational Plan
This chapter outlines the operation of your restaurant. Mention the location of your restaurant, along with the furniture and equipment needed to run the restaurant. Include items, such as coolers, fryers, refrigerators, etc.
Include the costs for each. The cost will vary depending on whether you buy the items or take a lease.
Mention the names of the suppliers and vendors who are supposed to supply materials to the restaurant. Describe in detail the standing operating procedures that your restaurant will follow to maintain inventory. Don’t forget to craft your restaurant’s menu and include the prices for each item.
This article provides an outline for writing a restaurant business plan. It is advised when you draft the business plan to take help from professional people like an attorney, or accountant, and yes don’t forget to involve your spouse if any. My best wishes for your upcoming successful restaurant business venture!!
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.