The strongest business plans always include all or most of the components described below. Ideally, once you have described the strong suit of every member of your team, youll be presenting a full deck. Sample Business Plans, everybodys got to eat and theres still plenty of niche aspects of food and beverage business for entrepreneurs to explore. Concept, describe your restaurant concept and get the reader excited about your idea. The key projections you can expect to work on are: Pro forma profit and loss statement for the first three to five years of operation Break even analysis Capital requirements budget). You want to demonstrate that the work experience youve acquired over the course of your career has provided you with the necessary skills to run a successful restaurant.
There should be a natural and very clear connection between the information you present in the Target Market section and this one. What type of business structure have you set up and why did you make that specific decision? Design, incorporate some visuals. It can be a powerful way of conveying your approach to hospitality to investors by explaining the details of the guests service experience. Step one: write a business plan. What do they do for a living, how old are they, and whats their average income? A well-vetted accountant with restaurant experience will know exactly what youll need to have prepared to show investors. Branded cover, include your logo (even if its not finalized the date, and your name.
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. Define clearly what will be unique about your restaurant. 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. 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. Step two: hire a good attorney. 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. Target market, who is going to eat at your restaurant?
You probably wont have a specific site identified at this point in the process, but you should talk about viable neighborhoods. Briefly explain the services theyll be providing for you, why you chose them, and any notable accomplishments. It will prove the viability of your concept to potential investors and provide them with a clear and engaging answer to the question: Why does the world need this restaurant? What your business plan should cover. Locally sourced, organic, farm-fresh, delivery, craft, pick a buzz-word and theres an opportunity there. Marketing and publicity, the restaurant landscape is only getting more competitive. In addition to helping me build a smart, sustainable business structure, my attorney was also a great resource for reviewing my business plan because shes read thousands of them. List any outside contractors you plan to retain, such as: Accountant, attorney, architect, designer, general contractor, pR and marketing. Your business plan will be the road map from which your new restaurant develops. 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.
If an extensive wine program is an integral part of what youre doing, will you have a sommelier? Market overview, address the micro and macro market conditions in your area and the impacts of local restrictions due to covid. 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. If not, convey that you have a solid plan in place to generate attention on your own through social media, your website, and media connections. Lou Guerrero, Principal at Kross, Baumgarten, Kniss Guerrero, emphasizes, Youll get a lot of accountants that tell you that theyve done a couple of restaurants, but you have to choose someone that has a deep expertise in what youre doing. Photos of materials and snippets of other restaurants that you love that are similar to the brand youre building are also helpful. Create a mood board that shows images related to the design and feeling of your restaurant. The following is an excerpt from the complete guide How to Open a Restaurant. Management team, write a brief overview of yourself and the team you have established so far. Go into detail about the food youll be serving, inspiration behind your concept, and an overview of service style.
Souvla, a fine casual Greek restaurant in San Francisco that has received national acclaim since opening in the spring of 2014. At a micro level, discuss who your direct competitors are. This section is most relevant for fine-dining concepts, concepts that have a unique service style, or if you have particularly strong feelings about what role service will play in your restaurant. 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? If restaurants are doing poorly, explain why yours wont; if restaurants are doing well, explain how youll be able to compete in an already booming restaurant climate. Financials, let your accountant guide you through this portion of your business plan. Your sample menu should also include prices that are based on a detailed cost analysis. It contains the same food and beverage templates and information you see here, but with additional guidance to help you develop the perfect plan. The point of a business plan is to show that youve done your homework, says Charles Bililies, owner.
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). Incorporate your logo and mock up a formatted menu design (tap a designer for help if needed). If you dont have a site, this is a good place to discuss what youre looking for in terms of square footage, foot traffic, parking, freeway accessibility, and other important details. Sample menu, the menu is the most important touchpoint of any restaurants brand, so this should be more than just a simple list of items. Once youve described them in detail, reiterate why your specific concept will be appealing to them. Business structure, this section should be short and sweet.