Restaurant Business Plan

Coming from a family that owns a restaurant business, from small individual eateries, to big resorts ideal for family holidays, I have always been interested in this field and everything to do with it. This could be either because I love food, or because while growing up, I have helped out in this business. Whatever it maybe, it gave me the idea to help out my family with a business plan.

Elements of a Restaurant Business Plan

A typical restaurant will have these elements:
Description – In the description you will talk about what kind of restaurant it is going to be, whether it is a small-time one or a medium one. It also talks about what kind of food will be served and the location. Besides this, this section should also include:

Mission statement
Development status
Future plans

Industry Analysis – here you will talk about the restaurant industry. We all know that this industry is a growing one and at the same time, one that is highly competitive. This is because more and more people are relying on restaurants to provide them with their daily food, because of lack of time and hectic schedule. You can also talk about:

How the industry is in this day and age, its revenue on an average, and other statistics.
Future trends and opportunities for growth

Products and Service – this is where you discuss what sort of service and products are going to be a part of your business. Are you going to be a self-service restaurant, a fast food joint, a fine dining restaurant, or a family style casual restaurant? Will you be dealing with take-out and home delivery too? These things are important. Other than these, details include:

Production of food
Future growth

Target Market – here you mention what kind of clientele you are looking to target, this will be your target market. Are you catering to families, teenagers, people on the move, or social butterflies? This will depend on your type of restaurant and cuisine. Here you have to be completely sure of the demographics you will be catering to. In this section, you also have to talk about:

The location and customers therein
The kind of customers you hope to attract
Future market trends

Competition – like they say, “keep your friends close and your enemies closer”, we are not talking about enemies here, but competition. Healthy competition is good for every business; it keeps the venture fresh and on its toes. Just like any other business, you should always know about the competition. This section should also include:

Profile of competitors
Strategy to deal with competition

Marketing and Sales Strategy – Each and every business should have a strategy regarding marketing and sales efforts. This is important more so for a restaurant business, because you need to know how to attract clientele and how to publicize the new venture. In this section, you should give a detailed report on:

Penetration in the market
Strategy used for marketing
Future plans and strategies relating to marketing

Operations – this is where you will discuss the actual operations of the business. What should be included is:

Office space and facilities
Operating hours and days
Employee induction, training, and scope of duties
Production of food
Catering and delivery details

Management – this is where you will be talking about the kind of management, the management style, and should also include:

Principals and core employees
Incentives, compensations, and salaries
Board of directors
Future management
Management structure and style
Ownership and share holding

Future Development – here you talk about how you expect the restaurant to grow and develop, it could be in a five-year plan or however else it suits you. Key points should be:

Long-term goals
Strategies for growth and development
Evaluation of any and all risks

Drafting this plan isn’t going to be easy. It is a detailed job, requiring extensive study. Make sure you go through your plan at least 10 times before you actually start working on it. Best of Luck!

Planning for Starting a Home Based Business

A home based business needs to have a proper plan in place for it to be successful. Working from home is a wonderful option for those of us who cannot, for whatever reason, go to an office for work. Several employment options exist for such entrepreneurs. However, to take advantage of the offers, you need to be well planned and organized.

Step One

First things first, you need to know in which area you want to provide work. For that you need to examine your skill sets and qualifications. That should give you a fair idea of which service you are able to provide.

Step Two

Even at home, you should have a dedicated work area where you can work peacefully. Finding such an area is the key, especially if you are staying at home because of kids or some other responsibilities. You need to find a time and place, where you would not be disturbed or distracted. You can then fix the number of hours, that you can devote to your work based on these factors. Your earnings would therefore depend on the number of hours you can spend working, and how fast you can do your work within these restraints.

Step Three

The next thing you need to have is a business plan. An ideal plan will outline the above mentioned factors in clear cut terms. An analysis of cost and market factors, will determine your cost per hour. You can thus calculate your projected income based on the number of hours you work.

Step Four

Once you have a plan in place, you need to apply for the necessary licenses and registrations. Check with your local government for the required formalities. It pays to have the paperwork in order, so as to avoid legal complications at a later date.

Step Five

The next step is, obviously, getting the work. If your work is internet based, then you need to look for websites where you can get such work. There are several wonderful websites where you can get such work on the Internet. However, if your work is not Internet based, then you need to generate work from other sources. Place an Ad in the local newspapers. Throw a launch party for all your friends and family, and put the word out there.

Going Further

Let the work come to you. Once you get the work, do it well, so that your clients remember you. Don’t forget to discuss payment terms before the work is done, so that there are no misunderstandings later. Word of mouth publicity only works, if you work well and deliver on time. As for publicizing your work via other media: you need to keep on doing it all the time, so as to generate constant work.