So what is the business plan for anyways?Many restaurant owner believe business plans are only tools to obtaining funds and alluring investors, but in reality they are essential to opening a profitable and long lasting restaurant business. Good business planning will help you :
- Find and settle at the right location for success
- Secure better lease terms
- Minimize risk of over-investment
- Speed up the decision making process and make the right decision at the right time
Who are the business plans for?
For your landlord, your investors (if any) and most importantly yourself! After all success is only the by product of good planning, right?
What to include in the business plan and why?
- 1. Menu
- Why? Because you will need to know how to plan your kitchen efficiently based on your menu items and what it takes to prepare them. Plan your menu carefully to decide if you will be serving your soda by can or by dispenser? Draft beer or bottle beer? Ice cream or another dessert that need to be served by the waiters and waitresses? Open kitchen or not? Liquors and cocktails? How many bar stations and so forth. This information is essential to determining the size requirement for your kitchen.
- 2. Equipment List
- Why? not only will you have an idea of what the initial investments are for the equipments, at the same time, it will help you evaluate each site to decide whether the actual site conditions can accommodate the equipment requirements both physically and mechanically. Click here if you need help with this.
- 3. Conceptual space planning
- Why? So that you will have an idea of how big of a space you will actually need and know how big of a space to look for. This can also show your landlord how well you are planning the business and re-assure him that you are one of those tenants to make his property a popular landmark. Click here if you need help with this.
- 4. Interior Design Rendering
- Why? So that you can help your investors, your landlord, yourself and your customers to envision what exactly you are building. Presentation is the key to impress. An attractive design rendering is not only the perfect tool for online advertising, it is also an handy instrument to astonish your investors and future customers. Click here if you need help with this.