Top 10 Tips to Write the Best Restaurant Business Plan

Owning a restaurant and running it is a dream for many. Getting it executed is a challenging task. Make your vision come true by seeing the right path. Having this picture in mind is the first step towards conceiving the idea.

In case you are in search of funding,  drafting a business plan would be critical in a proposal that can be shared with your investors and bank authorities.

How to Make a Restaurant Business Plan?

Before putting your plan into action, you need to foresee how your business’s flow is going to unfold. Taking out time to put together your thoughts into a restaurant plan is the first step.

The business plan highlights your income source and how you foresee growth in the future. Investors should be compelled by knowing your mission followed by how. The process is stringent and time-consuming, but a great strategy is worth it in the long run.

1. The Cover Page and The Table of Contents 

This happens to be the very first page your investors are going to read through. Make it appealing to catch the interest of the people concerned. A catchphrase alluding to your mission may be appropriate.

Your cover page must be colorful, and the logo should be imprinted along with another branding, contact information, and date. Keep it professional and ensure it includes all the appropriate information.

2. The Table of Contents

The table of content gives a glimpse of the contents specified in your proposal. Referencing a particular section becomes easier this way. Easy navigation makes the business plan more readable.

3. The Executive Summary

You need to introduce your restaurant and the go-to plan. The overview of your restaurant concept acts as an introduction. This is the gateway to your plan so you need to get the facts and figures right. It should also be short and precise.

The business summary should include your mission statement, business name, location, your restaurant concept, a brief history in case it’s an existing one, and an outline of your plans.

This section can be the perfect place to list out all the experiences that you carry in this field. It is the best way to sell your plan to your investors.

4. Your Restaurant Concept

Restaurants with different themes are most sought out. As a possible restaurant owner, try to devise a concept that is unique, especially in nearby restaurants. Provide vivid detail in the description that suits and gels with your theme. Readers will be inclined if you convey the concept and the purpose with words that provoke the senses.

You may list out some of these topics to garner the attention of the readers and investors on board. 

• The theme of your restaurant – fast food, casual, or fine dining
• Explain your service concept and style
• Describe your mission statement and purpose
• Showcase your ideas for layouts, interior designs including color scheme, décor, and many more
• Brief out your menu highlights
• Add visuals to your proposed premises to get a real feel
• Use technology tools that can make it easier

 
5. A Menu Listing

Having a dynamic menu can gain the limelight for the food your restaurant has to offer. The menu of the restaurants do the needful in inviting diners to the restaurant. They explain the dishes that the restaurant has to offer, starting from appetizers to desserts.

If food is your main attraction, your menu is the centerpiece that sells your brand. You need to engage the prospective clients to get allured to your concept by presenting pictures and details of all the items you wish to give away on the menu.

Make the menu look professional by adding some graphics and images that resonate with your restaurant idea. Include the pricing variables as this explains the detailed cost analysis. Investors can get an overview, and this will help in your financial projections.

6. The Market Analysis

Competition is all around you. Analyze the market and devise a plan on how you would gain market share among your competitors. The three things that you need to keep in mind are:

• Competition: Keep a check on your competitors. Knowing who can be of possible threat to you is the easy way to find solutions. Try to find out what your competitors are offering to their customers. Innovative ideas and techniques will help you take away the major share of customers. Being different is the key.
• Target Audience: List out your audience like millennials, families, kids, or wealthy business people because catering to all would be difficult in the initial phase. Having a customer-centric approach will help you chart out the dining preference, timings, and marketing strategy you may put into use.
• Marketing Strategy: Explain what methods you will use to promote your restaurant. You should have a complete plan which includes your website, digital marketing, social media handles, and print media. Let your investors know how you will be handling the marketing strategies by renting it out or hiring some professionals to assist you.

7. The Staff Breakdown

It is very essential to know the labor required to run the restaurant. The positions and the charter of work for every staff should be well written. This helps in delegating the duties and the work to progress systematically.

List the hours of operation and an exact number of people and positions required, including your management team.

8. Your Service

What is your restaurant service style? How will you serve your customers? Think of how you will want to serve your clients by having counter service, wait staff, or a buffet. Also, consider if it will be necessary to have a bartender, a wine steward, or serve self-service vending machines.

Include your service approach and hospitality plans here as the investors can get an insight into what you have in store for your future clients.

9. Financial Analysis

Money matters are the most crucial aspect of any business plan. It shows how prepared you are for the future and the goals you have set.

Get the help of a professional to handle your finances; this will help you to a large extent. To have a rough estimate, you need to furnish the below information to the accountant.

• What is the seating capacity?
• The average cost per table
• Your menu prices
• A possible count of diners for each meal
• Rough food cost calculation

 
10. Delivery Options

Delivery service has gained momentum ever since the pandemic has started. Most of the restaurants have either started their delivery options or have tied up with renowned delivery providers such as GrubHub, Ubereats, PostMates, and DoorDash. For the customers, all these service providers look alike. But when you look from the restaurant owner’s point of view, there are hidden charges that each provider levy upon. You may consider OrderEm as it provides competitive pricing when compared to other delivery providers.

Bottom Line

Creating a business plan can be a painstaking effort. It helps you look into your future marketing strategy. Gives you the right direction and helps in decision making.

Once your investors are convinced, you can set your goals and achieve your targets.