How to write a business plan for a restaurant

1. How to write a business plan for a restaurant
The thought of writing a restaurant business plan can be quite intimidating. Most people
battle with the financial section of the plan.
The best strategy is to break it up into the different sections and to focus on one section at
a time. You can obtain a template from the web.
In my view the most important part of the plan is to do the correct and sufficient research.
Remember a business plan evaluates all the aspects of the economic viability of your
business.
If you want to open a restaurant you need to decide what type of restaurant you want to
open e.g. fast food, Chinese take away or a franchise restaurant. Then decide in which
location you want to operate.
Now you can do a thorough evaluation of the area e.g.:
How many restaurants operate in the area?
What types of restaurants are there?
Are there enough people in the area to sustain all the restaurants?
Will your restaurant be unique in the area?
When are the busy times?
What is the average turnover per restaurant?
What are the rental rates and conditions?
Is staff available, what is the salary and wage cost?
Make sure that you cover all sections of your business plan template in your research.
Once you completed your research you can start completing your plan template. You can
call in the help of experts in the sections that you do not feel comfortable with e.g.
financial section.
A well researched plan will help you to make the correct business decisions and improve
your chances of business success.
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