BusinessHABRestaurant Business Plan Sample and Template: This is a sample of the Restaurant Business Plan.
You can use these Restaurant Business Plan Template.
If you are planning to start a restaurant business anywhere in the world.
Executive Summary
NATURE OF RESTAURANT BUSINESS
The restaurant business constitutes the sale and rendering of food services.
Food is a basic necessity of life and so everyone needs food of various types for survival and leisure.
Especially those living in the city that have busy schedules.
And cannot find the time and convenience to cook food at their living accommodation.
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Restaurant Business Plan Sample/Template
As a result the demand for prepared.
And ready made food is inevitable thereby leading to the importance.
And rapid increase of food services in many towns and cities.
Therefore restaurant and fast food are required to satisfy this market.
The African restaurant and fast food market is estimated to be worth more than $100 billion every year.
Interestingly there exist great market opportunities to exploit in the restaurant business.
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Restaurant Business Plan Sample/Template
Hence the starting of a restaurant business is a viable business for profit.
City lifestyle constitute a key driver for the demand of food services businesses.
Like fast food outlets and dine-in restaurants in Nigeria, Africa and globally.
Because of the demands on their time.
People living in cities and towns would increasingly prefer to have a decent meal in restaurants.
So as to avoid the stress of going to the market, cooking and washing dishes.
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Restaurant Business Plan Sample/Template
Because of the convenience and comparative low cost.
Restaurant patronage has rapidly increased.
And has assumed a growing and popular trend in many cities and towns in Nigeria, Africa and globally.
It assumed that this development is still in its early phases and is expected to increase.
According to a research conducted by a global consulting firm McKinsey and co indicated that about 40 percent of Africa’s population now resides in the cities.
As the population of cities and towns continues to expand.
The demand for restaurant services also continues to grow.
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As a result of this growing opportunity, many local and international restaurants are developing service chains in many towns and cities. Therefore many towns and cities are fast becoming attractive locations and destination for restaurant business. Apart from basic meals, many cities and town dwellers can afford fine and tasty delicacies of assorted food menus.
Restaurant Business Plan Sample/Template
Also the higher earning power of these categories of people consisting of the low, middle and high class people provides greater opportunity for higher patronage of restaurant in our cities and towns. The rapid economic growth and development of infrastructures has attracted more firms and employment opportunities which has also led to the rapid increase of restaurant business in Nigeria, Africa and Globally.
Moreover the influx of foreign has led to the demand of not only local menus but also continental recipes. Therefore the tastes and demands of the restaurant market are very diverse and creating more opportunity and market for existing and prospective investors. Some types of restaurants include (1) Fast food and Quick Service restaurants, Casual dining restaurants, Fine dining restaurants and Ethnic Restaurants. Some necessary steps required to start a restaurant business include
Restaurant Business Plan Sample/Template
Choose a unique concept; this requires your decision to adopt a particular type of restaurant business whether a fast food, quick service restaurant, or operating from home or operating by the road side. Sometimes you may decide to buy into any popular restaurant chain or adopt the ethnic type of restaurant.
Determine your customers; this requires taking time to understand the nature and income level of your customers, whether they are high-income or low-income earners. Will they be able to afford the restaurant products and services? Seek to know if they are working class, students or older people. Also determine if they are able to afford an ethnic or fine dining restaurant or will they be able to afford an ethnic or fine dining restaurant. The Understanding of the market is pivotal to identifying the most suitable type of restaurant to adopt.
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Selecting a good and proper location is also essential to the realization of a successful restaurant. It is important to locate the business close to the target market so as to have maximum patronage. An essential aspect is the preparation of the business plan for the intended restaurant.
Which will provide detail information regarding the business and proffer the financial information regarding the starting of the business? Confirm I and process any necessary permit or licenses to operate a business in the location you have chosen.
Requirements for registration differ from city to city. Also ensure that your business plan needs is properly understood by intended investors even when the intension is not to secure funds for the bank or investors .The business plan enables you to see the big picture of the business and the prospect involved. Also consider the layout of the business and the facility required.
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The menu of the business should also be identified and laid down in the plan. The number and category of staffs needed should be identified and stated in the plan. Also describe the management composition in the plan.
A key element of the plan is also to analyses the competition surrounding the business and conduct the strength, weakness, opportunity and threat of the business. The business plan constitute a vital document which will provide direction for the business and also serve to regulate the operation of the business startup process.
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Menu:
The executive summary should provide information covering the following aspects of the business
Company profile
Vision
Mission
Objectives
Sample Menu
Design/Layouts Organization
Location
Capitalization
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Restaurant Business Plan Sample/Template
Management plan
The management plan should give information of the management composition, staffing arrangement and the organizational form of the business.
Managing Partner/Owner
General Manager
Kitchen Manager/Chef
Staff composition
Marketing Plan
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The marketing plan should cover the following
Product and service Descriptions
Industry Assessment
Target Market
Location Analysis
Competitive Analysis Marketing Strategy
Overview
Customer Database
Frequent Diner
Email Campaign
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Mailer campaign
Community/Charity Involvement
Business Relationships
4 Walls Marketing
Public Relations
Advertising
Operations
Overview
Restaurant Business Plan Sample/Template
Staffing
Training
Daily Operations & Production
Customer Service
Suppliers
Management Controls
Administrative Systems
Restaurant Business Plan Sample/Template
TECHNICAL PLAN
The technical plan must provide relevant information regarding the following
INPUT REQUIREMENT
PRODUCTION ANALYSIS
Industry Assessment
Target Market
Location Analysis
Competitive Analysis
PRODUCTION METHODS
LOCATON
Financial Plan
Investment Analysis
Source of Funds
Capital Contributions
Projected cash flow statement
Total Estimated cost
Project income statement
Projected balance sheet
ECONOMIC PLAN
The economic plan should provide information on the planned impact of the business on the society.
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