To prove your vision to them and to stay aligned with it yourself, you need a business plan.
Here, we’ve outlined what your restaurant business plan should include.
They also include the objectives of a restaurant, its mission statement and the key factors that will make your business successful and set it apart from competitors.
The pivotal question to answer is: why do people need my restaurant?
“I think if a business plan is overly optimistic and says, ‘Oh, we’re going to beat our competition in every category,’ that’s probably not realistic.
You’re probably going to be able to beat your competition in some categories and not others.” What to include: Everyone — including investors — wants to know what’s getting served up at your restaurant, so be thorough when writing out a sample menu in your business plan.
This section is designed specifically for you to include menu items, descriptions and the ingredient lists needed to make your food and drinks.
Descriptions heavily influence whether people gel with your menu, so they can be used as a marketing tactic.
Find out who has the biggest market share and how near competitors’ restaurants are to yours.
Once you’ve done your research, clearly explain the advantages you have over these competitor businesses and how you’ll turn disadvantages to your favour.