Developing a business plan is the first step in the evolution of your restaurant. Here you create a restaurant concept, strategize operations, and set financial performance goals. Outlining a strong business plan not only determines if your idea is viable, but also sets the stage for how you will see it flourish. When working on a restaurant business strategy, there are a range of aspects to consider, such as location, menu, staffing, and finances. Working with you to understand your vision, goals, and budget; we can assist in establishing a business plan that will serve as the road map to your success.
As you’re developing a restaurant concept and putting together a business model, it’s not uncommon for your business plan to also serve as a restaurant proposal for potential investors. As such, it’s important to outline a comprehensive business model and strategy. Business plans often include:
- Market research and analysis: Thorough research and analysis of the local market to identify opportunities and competition, along with insights on trends, demographics, and consumer preferences.
- Concept development: Menu planning, theme, ambiance, and target market, plus a plan for sourcing ingredients, equipment, and suppliers.
- Financial planning: Realistic financial projections, including start-up costs, cash flow, and profit and loss statements, plus funding options and investor pitches.
- Operations planning: Staffing, training, scheduling, inventory management, and quality control.
With over 30 years of experience in the restaurant industry, we are passionate about helping new restaurant start ups achieve their dreams of owning and operating a successful restaurant. The first step in this journey is a strong business plan and strategy. Contact us today to learn more about how we can help you start your restaurant on the path to success.
