Opening a restaurant seems to be a simple task. All you need to do is rent a piece of land, get it decorated, hire a few people, arrange the raw material and you’re all set to go. But it is much difficult. You need an efficient organization. You need to write a business plan for opening a restaurant.
In this post of Restaurateur series, we are going to explain how you can write a business plan for opening a restaurant.
1. Define your Concept:
The first thing you need to do is decide what the restaurant concept. Our last article regarding the most popular restaurant concepts might help you to make a choice.
2. Describe the Market:
You need to figure out what kinds of people would you cater to. This highly depends upon the restaurant concept, location and a number of more factors. Careful research would help you.
3. Menu & Pricing:
Decide what kinds of items would be there in the menu and their pricing. This would be highly influenced by the description of your market. Make sure you do careful analysis and then decide the menu. It is the soul of the restaurant. You need to keep it good.
4. Financial information:
It is now time to decide where the money would come from. All the financial resources should be considered. Expenses, revenue, mortgage – all need attention. Startup capital data is important.
5. Marketing Plan:
The most crucial part played in a product’s success is by the marketing plan. Make sure you have one in the picture and pay a lot of attention to it.
6. Employee Hiring:
Decide on what number of employees you would need, what would be their job description, what would be their salary and then start hiring.
7. Training and retention program:
Such a program is a crucial part of a business plan for opening a restaurant. Your customers would be handled by your employees, not you. Make sure you have satisfying field experience and for this, you need to train your own employees.
Lastly, you need an outline of what needs to be done and how you plan to do those stuff.
These are the 8 things you need to think of and work at while writing a business plan for opening a restaurant. Don’t forget to check out other articles in our Restaurateur series to find more information about opening a restaurant.
In case, you need any more assistance, feel free to comment below. We would be happy to help you with our advice.