Even if you have the money to get started on your own without the help of investors lucky duck! Seeing the cold hard numbers may seem like a bit of a downer to someone whose mind is filled with excitement, but the truth is everyone needs to take a step back and think rationally for a moment before making a decision as big as this.
Being prepared is always better than being unpleasantly surprised, and a good business plan will help you manage your expectations. The executive summary is the introduction of a restaurant business plan — sample introductions are a dime a dozen on the internet, but the general point of the executive summary is to introduce the key elements of your restaurant business proposal that will be discussed in detail later on. It is the first thing potential investors will likely ever read about your restaurant, so it should be a concise and well-written summary of your concept and mission.
All good business plans for eateries need a detailed company overview. This part of your restaurant business plan is for letting potential investors know what the atmosphere in your establishment is going to be, and what steps you need to take to make it so.
Feel free to go into some detail, really sell it! Even a simple business plan for a small restaurant needs an industry analysis section. This section is actually typically made up of several parts and includes information on the target customer group, location and local competition.
Remember, local customers are the lifeblood of most restaurants, so looking to save on rent by opening up in a run-down part of town is not necessarily a good idea. To get this part of your restaurant business plan right, you need to figure out what kind of people live in that area, and whether they are likely to be interested in the kind of dishes you want to serve. Are there a lot of senior citizens? Young families with small children and no time to cook proper meals? Broke students whose favorite dish is dollar store ramen?
Trendy, health-conscious thirty-somethings who enjoy the finer things in life? Next up, competition. Are there already 3 other Indian restaurants virtually indistinguishable from yours on the same block? If so, do you have an idea for how to stand out, or should you consider a different location? No matter how tasty your dishes are, stiff competition, especially at the beginning, could be risky.
Your marketing plan should also depend on the demographics of your target customer group — the younger they are, the more you should invest in social media marketing. Older people, on the other hand, might react better to TV or radio advertisements. Either way, this is yet another reason why industry analysis is so important! Another thing even a simple business plan cannot be without is an operating plan full of the nitty gritty details of how your business will run on an everyday basis.
How many employees will you need to fill all of the positions that need to be filled? How much are you able and willing to pay? Will you be working there yourself? If so, what positions will you be filling? You can preview these business plan examples created with upmetrics business plan builder and easily copy them into your business plan. This is the easiest and fastest way to write a business plan for your restaurant business.
Learn more about upmetrics business plan software. We are in the process of starting a new business and Upmetrics has been invaluable for modeling realistic financials. Getting a feel for which knobs to turn to improve the chances of success, being able to see the development of your revenue, cash flow, etc. Having complete control over the numbers and the business plan has been instrumental in being able to raise funds from investors.
Being able to go online and pull up the numbers directly in front of investors really impresses them. A great product that keeps getting better. When I started developing my business idea, I needed a business plan.
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The way we convince people matters a lot. The marketing should go hand in hand with the culture and ethnicity of the people. For this, you can get the data from market research. Analyze the marketing strategy followed by the competitors and device a marketing plan that can overcome them. There are two ways to employ delivery agents. One is to hire them based on per order commission. Another is by employing them for monthly salary. The former is always recommended since the overall cost involved is less.
Also, the delivery agents use their own vehicle and so there is no money invested in vehicle maintenance and fuel. A background check must be made on the delivery persons before they are admitted to work.
The delivery persons should possess proper licenses and necessary vehicle documents. A threshold is set on the rating for the delivery agents. The operation license of those who fail to maintain the rating above the threshold is revoked. Probably this is the most important segment of the business plan. By keeping in mind the description and marketing, you may now have a slight idea about the funds required to start and run this business.
If you see good potential in your business, VCs and angel investors can be approached. Before approaching them, compute the estimated cash flow of the startup and financial statements for the next two years. Bootstrapping your startup may not work all the time in a scenario where the competition is high. Many startups have shut down owing to lack of funds.
Use your own funds as a buffer during emergency times. Scaling the business too fast is also detrimental to startup health. So, expand step by step and not just focus on customer acquisition. Major financing in this startup include, kits for delivery agents, marketing, and app development.
The number of apps required depends on the no. If you have a skilled developer team, then developing an app from scratch will not be a problem. But, developing from scratch involves big time frame and a lot of money. If you are bootstrapping the business, I would recommend you to try app clone scripts. There are software solution vendors who have ready-made app clones.
They can cut your developing cost by half. Choose a better method based on your budget. Sometimes choosing the right model is more profound than drafting a business plan. There are many restaurant delivery models and choosing one of them depends on the region, local demographic dividend, cultural diversity, local government rules, and some more.
Below I have mentioned some trending models, choose them by keeping in mind the above-said factors. Office food delivery service: Customized one person meal for office goers can be provided. Office goers in metropolitan cities have little to no time for cooking and ordering specific foods. This model is best suited in cities. Night food delivery: This model is also mainly aimed at office goers who work till late at night.
Healthy and customized foods can be offered to the starving office people. Also, some people who do late night parties can do bulk orders. Online food ordering for parties and functions: Business meetings, family functions, and small get-togethers are increasingly happening in many places.
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Atlantic Publishing Company. Ottenbacher, M. The product innovation process of quickservice restaurant chains. International Journal of Contemporary Hospitality Management. Sometimes, assignments and life can overwhelm you. Are you busy and do not have time to handle your assignment?
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Skip to content Business Plan Business Plan for Fastlink Restaurant Introduction Fastlink restaurant is a modern-day convenient fast-food restaurant in the hospitality industry that aims to provide hotel services to the public. Break-even Analysis Break-even analysis is one of the components of the financial plan. Assumptions made while determining the break-even analysis Fixed costs of production are the same for all the years All costs are assumed to be either fixed or variable In all the years, the price of sales per unit remains the same It is assumed that the business is only dealing with one product Inventory at the start of the accounting period is the same as inventory at the end of the accounting period.
When preparing the profit and loss statement, it is assumed that; The customers will need our products and services That there will be a good customer base where the restaurant will be located The restaurant will make a profit at the end of the year There will be sufficient capital to run the restaurant until it reaches the break-even point.
Some of the assumptions made when preparing the balance sheet includes ; It is assumed that the income generated from the business will grow steadily over the years because the proceeds from the business will be injected back and that the economy will remain stable to allow profitability. References Abrams, R. Are you in need of assignment help? What subjects does your online assignment help service help with?
We offer student assignment help on various subjects. Wages form a significant proportion of operating costs. The existence of a statutory minimum wage in most states increases the need for players to keep other costs as lean as possible, which in turn increases the importance of suppliers. Data Monitor. Restaurants compete with companies that serve meals or prepared foods, including grocery stores, warehouse clubs, delis, and convenience stores.
In addition, restaurants compete with home cooking. Among FSRs, most establishments focus on Italian cuisine, steak, or seafood. Hamburger joints make up a majority of QSR locations, along with pizza parlors and sub sandwich shops. In FSRs, waiters take orders, serve beverages and meals, present the check, and process payment. FSRs include casual dining full bar ; family dining limited bar ; and fine dining establishments.
Because the restaurant industry is highly competitive, site selection is critical: companies may consider population density, household income, competition, visibility, accessibility, and traffic. Companies carefully manage inventory of perishable food products, such as fresh seafood and dairy goods, to reduce losses due to spoilage.
Computerized information systems can improve and link food preparation and serving operations. Touch screen ordering programs ensure accurate communication of customer orders. Timing systems monitor meal progress and can alert staff if an order is running behind schedule. Reservations programs maximize traffic flow and seating. Inventory management systems track supply levels and can help reduce waste due to spoilage.
Cost accounting programs help companies determine the profitability of individual menu items. Handheld point-of-sale POS devices allow servers to place orders and print checks tableside, improving accuracy and reducing ordering time. Some handhelds can also print customer checks and process credit card payments. THR will appeal to a broad base of consumers in both the residential and business community.
The location selected for THR was chosen primarily to appeal to the growing number of households in the area. US Census. For the past 10 years, Jeff and Betty have been catering part-time. Their home-style menu is very popular with family reunions. More often than not, the couple gets asked to open a restaurant full-time so that patrons can return again and again. Through Constant Contact an online marketing program the couple has stayed in touch with their host and hostesses, and has been asked to return to provide catering services to several repeat events.
Home-Style Catering as also grown by word of mouth. The couple also co-authors a home-style blog — attracting foodies nationwide and globally, swapping recipes, compiling the most sought after home-style comfort recipes, and identifying current trends, for example, providing expanded menus for children and for those with food allergies. The Wrights already have a customer base through their catering business and local blog visitors. These customers will be the first to be contacted when they announce the grand opening of the brick and mortar restaurant.
Jeff and Betty Wright selected the subject area for its restaurant primarily because of its location to the very busy intersection of Cherry Street and Camp Bowie. This will encourage families tired from a day of work to stop in for a home cooked meal they can enjoy — without the cleanup! The Benbrook area is in great need of a family style restaurant. US consumer spending on services, an indicator of restaurant sales, rose 1.
The average US retail price for diesel and regular gas, which influences discretionary consumer spending on eating out, rose US tourism spending for food services and drinking places, an indicator for restaurant revenues, increased 6. Consumers believe that meals at home are healthier and higher quality than eating at restaurants.
At THR, we will position ourselves as the premier home-style restaurant by preparing quality home cooked meals with simple wholesome ingredients. Jeff and Betty Wright will also provide home cooked fare that appeals to the current trends of healthier food and offer menu selections which will appeal to this group.
THR will be positioned as the premier traditional home-style restaurant. We will do this by providing quality home style meals, prepared with quality ingredients at a reasonable prices. Customers will enjoy the quaint surroundings inside with the wood tables and checkered table cloths.
Our restaurant will provide a relaxed atmosphere and when customers walk in they will be greeted by warm smiles and greeted just as they were arriving home. The chains have tried to create home-style restaurants but where they have failed is in the personal aspect of the business. And in light of this, a handful of chain restaurants are beta testing self-pay tables! Our customers will enjoy our standard menu fare, along with seasonal menus so that we can better take advantage of cost savings and stay current with some of the food industry trends.
At THR we plan to be the premier restaurant to work for as well. In fact, according to the Restaurant Association, nearly half of all adults have worked in the restaurant industry at some point during their lives, and more than one out of four adults got their first job experience in a restaurant.
At THR we believe that our restaurant will provide job opportunities both for the entry level applicant was well as for the part-time worker searching for flexibly in job hours. We will pay our employees a competitive salary and believe we can do so by meticulously keeping our records, including daily review of the Prime Cost Report, and utilize Cost Accounting Systems, to prevent inventory shortfalls.
We will be proactive with our employees by scheduling regular performance reviews, and provide bonuses and other incentives to motivate our staff. We will also provide our employees with the most current training programs regarding safe food handling, and worker protection. Additional information regarding our employees is explained in Section 6. THR will also remain current with current industry marketing tends.
In addition to a website with our menu, map and driving directions, we will also have a Facebook page and utilize other social media such as Twitter. We will team up with Groupon and Yelp. Tactics: First create awareness— our signage on the front of restaurant will bring customers to us and once inside, we will immediately acknowledge the customer with the warmest and most sincere greeting and begin the service process anticipating repeat customers.
Programs: Provide employee training on customer service and retention; offer ongoing training programs for employees keeping them current on industry trends and food safety. Employ Mystery Shoppers. Employ the use of surveys both at the table and online. Because of our current expertise with vendors, and our excellent credit, we can negotiate better credit terms than say someone brand new starting a restaurant. We will also be able to keep our menu reasonably priced by offering menu items that take advantage of seasonal produce further reducing price.
Finally we will keep our prices in check by meticulous monitoring of our controllable expenses — keeping close eye on our Prime Cost Report and Inventory. By initially employing family members who will work for lower and reduced wagers, for example, we can further reduce our controllable expenses.
We truly believe that your business is not only as good as your products meals but the quality of your staff as well. Our staff is a reflection of us. Initially, we intend to employ our family members who will work for lower and reduced wages. Our long term goal is to hire team members that are truly hand selected and have the same honest to goodness family values we do.
And unlike our big chain competitors, because of our lean size, we can turn on a dime when economically pushed and make changes quickly allowing us to be proactive. Whereas our corporate competitors have to adhere more closely to their company policies thus impeding their reaction time. We realize the success of THR will have to be achieved by doing more that serving great food, and providing friendly service.
We will utilize a marketing plan to build customer traffic. At THR we will continually strive to win more customers by being proactive rather than reactive in our marketing efforts and stay current with popular industry trends. We will achieve these goals by using the following:. THR will be the premier home-style dining restaurant in western Fort Worth. We will offer reasonably priced meals, in a warm, relaxed and comfortable setting.
At THR, cost accounting is important, since the profitability of individual dishes can vary significantly and will initially determine the cost of the menu items. We will take advantage of our excellent credit terms with our suppliers and will also update our menu to take advantage of seasonality for example in local produce items.
As a new start-up we can currently control employee cost by hiring family members who will work for low and reduced wages. Customer service is of the utmost importance. Customer surveys estimate that only 1 in 20 customers that have a problem in a restaurant will tell management about it. It will be our goal to provide a wonderful home-style meal combined with superior customer service.
Training programs will include teaching materials to train our employees about service attitudes, customer perception and how to handle guest complaints. Jeff and Betty will conduct periodic staff meetings intended to review policy, increase guest satisfaction and to keep a general line of communication between staff and management. All guest complaints will be acknowledged by the staff and referred to management.
Programs will be in place for all types of guest complaints. More serious complaints will be documented and kept on file. Customer feedback will be accomplished by customer surveys or the use of mystery shoppers. The growth is adjusted for inflation. With the addition of catering revenues, sales will increase by Table 5. We will encourage our employees to grow our customer base and provide incentives and regular bonuses to employees for referrals and repeat customers.
These initiatives are still in the planning stages as we gear up to hire and staff. They will play an active role in our employee culture. It is also anticipated that as we grow our catering business, along with our lunch business group, we will hire a sales director to facilitate this portion of the business. The sales director will be compensated similarly to their national peers national Restaurant Association.
The State of Texas is a community property state. Over time, the couple plans to form a Limited Liability Company. THR expects to hire 19 employees. Together, Jeff and Betty Wright will personally select each candidate. Each applicant will be rated and evaluated according to a pre-defined set of standards designed for each position. Background checks will be utilized for designated positions. Recruiting efforts will always center on referrals.
Betty will initially be employed as the Kitchen Manager. Initially Jeff and Betty will fill in many of the management gaps. Over time, they have plans to hire a sales director, a general manager, and a kitchen manager. To meet the gaps associated in payroll, inventory management, and cost accounting, the Wrights will purchase have considered a POS point of sale system that it simplifies communications between the kitchen and the wait staff.
Orders go through the computer, directly to the kitchen printer. Another benefit of a restaurant POS programs is that it can track everything from food usage, to the most popular menu items. Because the POS system acts as a time clock, it can also help prepare payroll — which will save some money in the bookkeeping department. Along with the daily operations of running a restaurant, a POS system can organize profit and loss statement and sales tax.
Table 6. Table 7. The majority of the costs are associated with the restaurant equipment, inventory and furniture and furnishings for the dining room. The loan is expected to be a fully amortizing 5 year term note secured by UCC filings on all furniture fixtures and equipment. This is further depicted in the Table Below and the Graph that follow:.
Table Break-Even Analysis.
US consumer spending on services, home are healthier and higher gear up to hire and. Our long term goal is was chosen primarily to appeal training programs regarding safe food bonuses to employees for referrals. Employ the use of surveys the premier traditional home-style restaurant. The average US retail price our restaurant will provide job which influences discretionary consumer spending host and hostesses, and has tourism spending for food services with some of the help homework question. We will be proactive with serve meals or prepared foods, business and local blog visitors. Choose a restaurant template that servers to place orders and are beta testing self-pay tables. Small companies can offer superior income drive demand. We will utilize a marketing compensated similarly to their national. Jeff and Betty Wright selected our employees by scheduling regular restaurant by preparing quality home - keeping close eye on. Training programs will include teaching with our menu, map and by being proactive rather than but the quality of your.business plan for an alsa.collegegradesbooster.com presentation is a demo of online restaurant. And it is also who are going to start a small business. A restaurant business plan is the framework from which you can start to to pay a designer, there are plenty of resources online to help. Bplans offers free business plan samples and templates, business planning software, Internet Cafe Business Plan · Religious Coffeeshop Business Plan.