Writing a Business Plan for Restaurant Funding
Writing a clear and accurate restaurant business plan is a crucial step for anyone looking to open a new restaurant. A well written and clearly structured business plan can help attract funding for your restaurant startup. In addition, a business plan will help clarify the core ideas of your new restaurant.
What You Should Include in Your Plan
When you are writing your restaurant business plan, there are 3 key areas that are essential to cover:
- (1) The theme of your restaurant and its unique selling point (USP): What is going to link the name, menu and decor together, and what will make your restaurant unique?
- (2) Show that there is a market for your restaurant: Using market research data, demonstrate why there is a need for your restaurant in your target area.
- (3) The practicalities and financial feasibility of your business: Include information on elements such as ownership structure, staff requirements and detailed financial data.
How to Structure Your Restaurant Business Plan
Ensuring your business plan is coherent and free of clutter is essential, so it is imperative to have a clearly defined structure. The following structure can be used as a guide for your restaurant business plan:
- Executive Summary: This section should have a concise breakdown of the core information contained in the following chapters, ideally between 1 and 4 pages.
- Company Overview: Provide more detail on your restaurant, and its workings.
- Theme and Menu: Elaborate on your main theme, concept and the food that you plan on serving.
- Staff Requirements: How many employees will your establishment need and for what areas of your business?
- Ownership Structure: Are you going to be in partnership with other people or will your company have a different legal structure?
- Market Research: Demonstrate a demand for your restaurant in your target area and outline your target demographic.
- Marketing Strategies: Are you going to utilize social media and other online marketing strategies?
- Financial Information: Detail the financial side of your business, such as how much total investment you will need to launch the restaurant, your projected overhead and when you expect your restaurant to start turning a profit.
In short, your business plan should be a blueprint that details how you are going to start and operate your restaurant business. If you need a professional who specializes in writing business plans for restaurant financing, please Contact Us for a referral.