A restaurant is a business that requires meticulous attention to detail and multitasking in operations. Knowing how to create a winning restaurant business plan is the first step to success. A good plan will keep your operations running smoothly, even during difficult times, whether you operate a small, family-run establishment or a luxury bistro.
Definition of Restaurant Business Plan
A business plan is a guide that provides a framework for all aspects of your business when you run it. In the case of restaurants, the details cover everything from designing the restaurant, employing staff, and selecting supplies, to performing frontline services, kitchen activities, cleaning, and customer care.
The details of the plan may be different between businesses. However, complying with industry standards and regulations for the restaurant business is a must. This is important for crucial tasks such as choosing ingredients, storing foods, cleaning, maintaining employee hygiene standards, and dealing with kitchen hazards.
Why A Restaurant Business Plan is Important
Knowing how to create a winning restaurant business plan will help you ensure you are in-line with standard industry practices. However, there are more benefits to having a proper, laid-down plan.
If you are looking for investors to develop your business, you must provide your business plan to convince them. You also need this plan for other financial reasons, such as getting a new building lease or bank loan.
A business plan also gives your restaurant a blueprint to operate for a long time. It is helpful for any visionary business owners who aim for continuous development. If you have a family restaurant business, your business plan will help other family members or descendants to continue your work.
Finally, a business plan creates standardized services and consistency in quality. They make sure that your customers stay loyal, ensuring continuous income.
Steps to Create Restaurant Business Plan
A proper restaurant business plan should have 10 critical elements. Make sure you have these on your documents:
This part details the introduction to your business. It contains the business name, concepts, vision and mission, estimated costs, and investment calculation.
This part gives more details about your business. In the document, provide the name, location, restaurant concept, and the owner's background and experiences. You must also explain the restaurant's establishment and its correlation to current food trends, your local culinary industry state, and/or other relevant information.
The market analysis contains three types of information: demography, competition, and marketing strategy. They explain the potential of your restaurant and how you will fulfill the expectations of investors.
Even if you still do not have the final version of your restaurant's menu, make sure to have a mock-up. You can find menu templates and modify them with your logo, menu names, and pricing.
If you have hired several people, mention them and their roles. Even if you still do not have permanent staff or employees, you can highlight the present staff's experiences and potential.
A restaurant design shows your concepts in virtual media. If you don't have mock-ups, use mood boards with visual representations of your concepts, such as colors, era-defining images, and specific objects.
The market overview details both the micro and macro analysis of how your restaurant will perform in your area. You must also include possible challenges and the solutions you prepare for them.
Provide the marketing strategies you plan before and after opening the restaurant. This part details all campaigns, including any public service or media you partner with.
This part should involve professionals like financial analysts or corporate accountants. It would be best if you incorporated the final calculation plan and the names of the professionals you hire.
Finally, opening a restaurant requires a lot of support from people and tools. Include all the companies or services that help you build and run the restaurant, such as IT, furniture, interior design, and kitchen equipment. You can also include the system you use to run the restaurant.
How Digital Tool Helps in Business Plan
Nimbly is a digital management system you can include in your business plan. This tool provides a digital checklist, issue tracker, data insight, and other useful features to support your operation. You can use Nimbly to fulfill every task checklist from planning to execution and supporting the works in all lines, from frontliners to managerial.
Know how to create a winning restaurant business plan with this guide. Get Nimbly now to realize the plan into a successful business.