A restaurant business plan will serve as a compass no matter where you are in the restaurant ownership journey.
The rise of the restaurant sector is revved by the expansion of multi-cuisine restaurants across regional borders. Everyone needs to eat, and there are still many specialist areas of the food and beverage industry for owners to explore.
If you are planning to start an F&B business, then start it by outlining your business plan.
Need A Restaurant Business Plan? We’re Here To Help!
A company’s recipe would be tasteless and odorless without it. Since the restaurant industry has one of the worst failure rates, starting one is a challenge. It is successful because of the careful planning and execution of the restaurant business plan.
In 2020, the size of the world’s restaurant industry was 3.5 trillion dollars. According to forecasts, this amount will increase to 4.2 trillion US dollars in 2027.
A business plan provides you with direction and a practical strategy for growing your restaurant business. Starting with a sample restaurant business plan is the first step toward success.
Spend time reading through several examples of food and restaurant business plans before you begin drafting your own. You can better apprehend your goals and the format of your final business plan by studying them.
How To Write A Restaurant Business Plan?
The most effective substitute for writing a business plan is to use a template. Using the restaurant business plan template, you can quickly compose each phase. Let’s look at the topics the business strategy covers.
Restaurant Business Plan Outline
This is the standard restaurant business plan outline which will cover all important sections that you should include in your business plan.
- Executive Summary
- Market Opportunity
- Financial Projections & Funding
- The Restaurant Concept
- Business Model
- Keys to Success
- Long Term Strategy
- Intellectual Property
- The Restaurant Concept
- Sample Menu
- Menu Items
- Restaurant Operations
- Customer Service
- Operating Policies
- Strict Inventory Controls
- Purchasing Cost Controls
- Recipe a Portion Controls
- Menu Blending
- Sanitation of Food Handling
- Operating Standards
- Management’s Role
- Software a Systems
- Money a Profit Management
- Hiring the Best
- Training for Excellence
- Retaining the Best
- Controlling Costs
- Food Costs
- Equipment Costs
- Staff Turnover / Training Costs
- Operating Details
- Industry Analysis
- Industry Overview
- Restaurant Demographics
- Fast Casual Ming
- Denning Fast Casual
- Fast Casual Asian Food
- Tempe Arizona
- Select Demographic Data
- Industry Overview
- Competitive Landscape
- Direct Competitors
- Competitive Advantages
- Target Market Overview
- Market Positioning & Brand
- Marketing Strategies
- Company & Management
- Management Team
- John Doe
- Jane Doe
- Staffing Plan
- External Issues
- Financial Plan
- Startup Expenditures
- Revenue Assumptions
- Cost of Goods Sold
- Operating Expense Assumptions
- Balance Sheet Assumptions
- Bank Loan Assumptions
- Balance Sheet Forecast – Years 1 to 5
- Income Statement Forecast Year 1 to 5
- Cash Flow Forecast – Year 1 to 5
After getting started with Upmetrics, you can copy this restaurant business plan example into your business plan and modify the required information. It’s the fastest and easiest way to start writing your business plan.
What To Include In The Restaurant Business Plan?
Before you get started with writing your business plan, here are a few areas that you should include in your business plan:
An introduction to a business plan starts with an executive summary section. It covers a general overview of the business, management functions, market opportunities accessible, and a summary of the financial projections & funding.
The second section shows the restaurant concept, business models, objectives, long & short-term strategies, intellectual properties, and sustainable approach.
- Describe the restaurant’s status within the sector.
- Identify the key players in the industry and the current competition.
- Indicate the target market’s demographics as well as information on the industry the business will operate in, projected revenues, market trends, and governmental influences.
- Establish your target market’s demographics, needs, and geography.
- Describe the market’s size, the number of units that potential buyers might purchase of the company’s products, and any potential market changes brought on by broader economic changes.
- Give a summary of the anticipated sales volume in comparison to what the competition sells.
- Give a strategy for how the restaurant intends to compete with rivals already in the market to increase and maintain market share.
- Describe the company’s organizational structure.
- List the restaurant’s owners along with their stakes in the business.
- List the chefs and executives, together with their positions and pay scales.
- List any internal and outside experts that the organization intends to hire, along with their compensation arrangements.
- If one is available, include a list of the advisory board members.
Financial Projections & Funding
- Include the projected income statement, projected cash flow statement, and projected balance sheet in your description of the company’s financial projections.
You can plan the functionality of the restaurant with the help of restaurant operations. Quick-service, online food delivery compatibility, and drive-through operations should be defined underneath. Customer service, training, cost control, and operating standards should be mentioned here with careful attention.
Describe your possible site (or locations) in this part so that you and your investors can picture what the restaurant will look like.
To make the setting feel as authentic as possible, provide a wealth of details about it, such as the square footage, floor plan, design, demographics of the neighborhood, parking, etc.
As a result, your restaurant’s location is noted in this area along with a plan to accommodate additional options.
Based on the demographic information that is available for the company, industry analysis presents an overview of the sector. The industry analysis of demographic habits and buying patterns is essential for developing a suitable menu for them.
The competition is arguably the biggest test for the restaurant industry. However, the level of competition can also benefit because it would attract customers.
In addition, the absence of competition in a region may indicate that it is not where the restaurants are offering their services, so you should research the area before developing it for your restaurant.
The list of restaurants with concepts similar to yours should be recognized and included in your restaurant business plan.
Every day there is more competition in the F&B industry. Marketing is therefore a crucial component in creating a restaurant business plan. Before starting, you should have a clear understanding of your market approach.
Set up money for both traditional and internet advertising. A portion of every rupee you make should go into advertising the eatery. It becomes crucial to define marketing strategies and set up a suitable plan to draw in the target market.
All of your restaurant’s marketing methods will be covered in this section on marketing.
The heart of your organization is covered in the company & management area. Someone should be able to guide your business decisions and lay out the boundaries you must follow. A strong staff decides the precise orientation of the company.
The financial plan section shows the startup expenditures, cost of goods sold, projection of cash flow statement, balance sheet & income statements. If a business thinks about the other means of finance through a bank, then the cost of funds and sources of finance need to be mentioned here.
Restaurant Business Plan Summary
Creating a competitive advantage for your business in the target market is challenging. Serving distinctive food items and updating your food menus are crucial for maximizing business potential due to increased competition.
Writing a business plan with a comprehensive strategy provides a detailed view of how to establish a business without making mistakes. Also, add an appendix for the restaurant business plan to provide a clear idea.
The restaurant business plan template allows you the flexibility to change each aspect. After completing your business plan, you will have a thorough understanding of how a restaurant operates.
Ready To Start Your Planning?
Owning a restaurant might be the most lucrative choice right now. But very few people turn it into a fulfilling career that pays well. Launch a business with a visually engaging restaurant business plan with Upmetrics.
Download the sample restaurant business plan template now.
Customize Your Business Plan
Upmetrics help in customizing your restaurant business plan as per your requirements. So, signup with Upmetrics today!