Noah is the COO at Palo Alto Software, makers of Outpost and the online business plan app LivePlan, and content curator and creator of the Emergent Newsletter. A professional restaurant business plan is an important step towards launching a business in this challenging industry. Plus, all the equipment and renovations to a space mean you’ll probably need to spend a good amount of cash before your doors are open and you get your first customer. You can also see more business plan examples here. A restaurant plan shares a lot of similarities with a standard business plan. The key element of your sample menu though should be pricing. A Restaurant Business Plan acts as a guideline, a roadmap for the future development of your restaurant business. The right design and branding attracts the target customer that you’re hoping will walk through the front door. This is How to Build Remote Work into Your Startup Business Plan, How to Write a Business Plan for a SaaS Company, How to Create an Accurate Restaurant Sales Forecast in 2020, See more articles in Writing a Business Plan », How to Make Your Business Plan Standout for Investors, How to Successfully Pitch Your Business Idea to Investors, The 11 Slides You Need to Have in Your Pitch Deck for 2020, See more articles in Pitching a Business ». Regardless of how many friends have assured you it will be a success or how many countless hours you've spent coming up with the concept in your head, without properly planning for it your restaurant is doomed for failure. For your business plan, consider including “cost” information with your menu, if you can gather this information. You can download all of them in Word format so you can jump-start your own business plan. Also include the owner’s details and a brief description of their experience. To make your restaurant a reality, you are going to need a lot of help. It includes all of the financial forecasts you need—no experience necessary. . A few of the most popular ones can be found at the links below. A professional restaurant business plan is an important step towards launching a business in this challenging industry. Are you serving premium food at premium prices, or are you a bargain restaurant that is looking to turn tables quickly? If it’s hard for your customers to get to you, hard for them to park, and not something they notice as they drive by, they’re unlikely to check your restaurant out. , and highlights of your management team and financials. In this article, I’ll dig into how to write a business plan specifically for a restaurant—the changes and additions you’ll want to make so your plan is customized enough to be truly useful. Mention everything from square footage, to typical demographics. Here on Bplans, we’ve got a great guide already on how to write a traditional business plan. The market overview section is heavily related to the market analysis portion of the restaurant business plan. A restaurant business plan is the framework from which you can start to piece together everything from your restaurant management to menu design and develop your restaurant ideas into a reality. Home » Services » Business Plan Consulting » Restaurant Business Plan Examples. Learn more about how LivePlan can help you write your business plan for your restaurant. What restaurants have already established a customer base in the area? A restaurant business plan is the framework from which you can start to piece together everything from your restaurant management to menu design and develop your restaurant ideas into a reality. Your target market describes the types of customers you hope to attract. Getting the word out about your new restaurant can be challenging. Mention all the restaurants that could prove to be competition and what your strategy is to set yourself apart. It’s a different way of framing an eatery’s product or service. You’ll also want to include a company description that includes details on the management team and the highlights from their resumes. Common elements of an executive summary include: An executive summary is imperative for those looking to get investors to fund their project. Depending on who you are presenting your business plan to, you can change the order of the sections to reflect priority. If you want to see how other restaurants have planned their businesses, check out our free library of restaurant business plans. But, more realistically, your location needs to be convenient for your target market. Entrepreneur Quiz: Do You Have What It Takes to Succeed? As important to marketing is Public Relations (PR). What kind of offers will you provide your guests? If you'd like an assessment of your needs and a fee estimate, please let us know how to reach you: Please note meetings and calls are by appointment only. Targeted social media posts? Instead of having to comb through the entire restaurant business plan to get all the information, they can instead just look through the executive summary. There are a lot of details that you can include in your target market section of your business plan and we’ve got a great article that covers everything you might want to include. Restaurant business plans vary from person to person, depending on the type of restaurant and and location. On-street advertising? Nothing can explain your restaurant better than a sample menu. How will your marketing campaigns differ from what is already being done by others? While most people think business plans are just for getting loans and investments, the real number one reason you need a business plan is to ensure that you are successful. hbspt.cta.load(467363, 'c3864c5a-b527-4a73-b799-7e4b2f2d0b2e', {}); If you’re not quite ready to write a plan and just want to learn how to start a restaurant, check out our guide. It is the blueprint for operating your restaurant. hbspt.cta._relativeUrls=true;hbspt.cta.load(3390327, 'c5d1fd78-9abc-4846-9eed-30bf7ad0e9ff', {}); The team at Bplans have put together an exhaustive list of restaurant business plan samples perfect for any establishment type. Restaurant signage and interior design help attract customers and signal what kind of restaurant you are. Start this section with the name of the restaurant you are opening along with the location, contacts, and other relevant information. If you use a tool like LivePlan, you’ll be able to build out your financial forecasts relatively quickly, even if you don’t have experience with business numbers. No part of this website may be copied without prior written permission. What Factors Should You Consider When Comparing Franchise Opportunities? Find pictures of similar aesthetic to what you are looking for in your restaurant. Your menu can communicate all of this. Discuss the current economic conditions that could make opening a restaurant difficult, and how you aim to counteract that. How to Write a Restaurant Business Plan (Step by Step Guide with Samples). 8 Alternative Funding Options for Small Businesses, 3 Steps to Figure Out How Much Money You Need to Start a Business, See more articles in Funding a Business ». Of course, you will also need a business plan for your investors and lenders. Usually, you write the summary last, after you’ve fleshed out all the details of your plan. If you are looking for some more inspiration, check out the article 126 expert ideas for your restaurant business plan. That's where a restaurant business plan comes in. Will you use mailers? Write a plan to help you figure out your startup costs and the money you’ll need to get going, how long it will take to pay back lenders and to answer the hard question of why the world needs your restaurant. attracts the target customer that you’re hoping will walk through the front door. Potential investors will be looking for experienced owners and managers to get a restaurant up and running, so this section of the plan should explain why your team is qualified to build the business into a success. The restaurant design extends beyond aesthetics alone, and should include everything from restaurant software to kitchen equipment. The marketing and publicity section should go in detail on how you plan to market your restaurant before and after opening. Test Your Idea First, How to Come up with Hundreds of Business Ideas. Arguably, the target market section of your business plan is one of the most important components. At this point you might not have a precise location set aside, but you should have a few to choose from. An executive summary not only acts as the introduction to your business plan, but also a summary of the entire idea. Hiring a trained accountant will not only help you get your financial estimates in order, but also give you a realistic look into owning a restaurant. Below are example restaurant business plans created by Cayenne Consulting: Learn more about Cayenne Consulting’s expertise in restaurant, bar, and lounge business plan preparation. Your restaurant business plan is what is going to map out how you plan on turning a profit from your business as well as where your restaurant fits into the saturated market and how you plan on standing out.