Table of Contents
restaurant business plan EXECUTIVE SUMMARY
The business plan of a restaurant is the fundamental piece to face and reflect the operation of the business. The aim is to analyze the current situation and understand the actions to be taken during the year. Although it is the first thing you see, you should write it at the end, as its name indicates it is a summary or synthesis.
This is a good time to be succinct. You must summarize your project without too much explanation and, of course, that it is understood.
"ELEVATOR PITCH OF YOUR PROJECT 1.1
- Imagine you have the opportunity to explain your project to someone in an elevator and the ride lasts 20 seconds. Would you be able to sell your idea in that time?
2.-PRESENTATION OF THE BUSINESS PLAN
Although it is the first thing you see, you must write it at the end, as its name indicates, it is a summary or synthesis. summary or synthesis.
This is a good time to be succinct. You must summarize your project without too much explanation and, of course, that it is understood.
2.1-ORIGIN, BACKGROUND OF YOUR BUSINESS PLAN
- How did you come up with the idea of creating this business? And why?
- What have you done so far to get it going?
- What steps have you taken and what is the status of the project?
2.2-THE TEAM, ALONE YOU WILL GET NOWHERE
In this section it must be indicated:
- If it is your first business as a freelancer or entrepreneur, you will have to present yourself in a synthetic way highlighting the experience or training that reinforces the viability of the project.
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- If you are several partners, you should introduce yourselves as a team, highlighting the complementarity between your profiles. The Curriculum Vitae of each of the promoting partners can be included in an Annex..
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- If you are an operating freelancer who wants to launch a new line of business, you will need to provide information on the following items:
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- Origin and history of your business.
- Evolution of business lines.
- Turnover in recent years by main markets.
- Main clients and/or highlights.
- Template. Size and composition.
- Facilities. Location and equipment.
- If you are or will be creating a partnership, you must indicate the legal form chosen and the participation of each partner.
2.3 - THE IDEA AND THE VALUE PROPOSITION
- What is the product or service you are going to offer?
- What needs does it cover? Why do you think it is necessary?
- What’s different?
- What advantages does it have over the competition?
- What is the business model? How is revenue generated?
2.4-CUSTOMER EXPERIENCE, RESTAURANT CLIENT JOURNEY
Bearing in mind that you are a restaurant, you have to be clear that your customer is not just buying food from you, they are buying a complete experience. From the time he thinks about going out to eat, to the time he gets to the restaurant and sits down to eat in your brand new restaurant.
3.-THE MARKET
To define the business plan of a restaurant it is vital to know the economic environment, the current situation, the competitors and to know how each market segment is evolving.
3.1 MARKET SITUATION AND EVOLUTION
Define the general characteristics and trends observed in your target market:
- Size: How many customers make up the total market? What total turnover do they generate?
- Geographic location: What is the geographical extension of your market? What is it like (surface area, population density, characteristics…)?
- Growth rate: Is the consumption of your product or service growing, maintaining or decreasing? Why?
- Seasonality: Is consumption concentrated in certain periods of the year?
- Segmentation: Is the market divided into different groups of customers, with different preferences and consumption habits, independent of each other?
- New developments: What innovations are being introduced in the market: technologies, legislation, customer preferences, consumer habits, demographic or sociocultural changes, others?
- Competitive forces: Is rivalry among market competitors high or low, Is there room for everyone, Are there customers or suppliers with large market shares and high bargaining power, Are there barriers to entry that make it difficult to start up the business, Are substitute products expected in the short term?
3.2 THE CUSTOMER
Describe in detail what your target customers are like, indicating their motives and buying habits. Try to illustrate your answers with data, tables, graphs, news or references. In your essay try to answer the following questions:
- Who is your target customer?
- Are your customers individuals, freelancers, SMEs or the government?
- How big is your potential market?
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- What is the average profile of your clientele?
Indicates age group, gender, economic level, cultural level, location, lifestyle, tastes, motive and purchasing power. If they are self-employed and SMEs or government agencies, indicate what they are like: turnover, operation, purchasing habits and supplier selection criteria.
- How do your customers buy?
Indicates time of day, time of year, number of units per purchase and how often they repeat.
- Do you pay cash? If not, how long does it take to pay?
- What is your sales forecast? What number of customers do you expect to obtain on a monthly basis? What average consumption do you expect from each of them?
3.3 COMPETITION
Describe in detail who your competitors are, how they operate and what their strengths and weaknesses are.
In your essay try to answer the following questions:
- What other freelancers or SMEs offer the same product or service, where are they, how big are they, how old are they and what is their prestige?
- How do they work? Are they specialized? What level of value for money do you offer? Do you offer discounts and promotions? What advertising do they do?
- What are your strengths and weaknesses?
- Is there a leader that others follow? is there room for everyone in the market?
- How do you want to position yourself in relation to the competition?
- What are your competitive advantages? Innovations, costs, quality, knowledge, contacts, customer service, etc?
3.4 DISTRIBUTION CHANNELS
Describe in detail who your competitors are, how they operate and what their strengths and weaknesses are.
In your essay try to answer the following questions:
- What other freelancers or SMEs offer the same product or service, where are they, how big are they, how old are they and what is their prestige?
- How do they work? Are they specialized? What level of value for money do you offer? Do you offer discounts and promotions? What advertising do they do?
- What are your strengths and weaknesses?
- Is there a leader that others follow? is there room for everyone in the market?
- How do you want to position yourself in relation to the competition?
- What are your competitive advantages? Innovations, costs, quality, knowledge, contacts, customer service, etc?
- How do they work: are their commissions high or low, do they work on an exclusive basis, do they advertise, and do they offer discounts and promotions?
- Are there prescribers who recommend the product to end customers and influence their purchasing decision? If so, how many? where are they and what do they look like?
COMMERCIAL STRATEGY
Although it is the first thing you see, you must write it at the end, as its name indicates, it is a summary or synthesis. summary or synthesis.
This is a good time to be succinct. You must summarize your project without too much explanation and, of course, that it is understood.
PRODUCT STRATEGY 4.1
You must expose the commercial and technical characteristics of your product or service (quality, design, breadth of product lines, complementary services, brands).
In your essay try to answer the following questions:
- How wide is your range of products / services? What product/service lines do you offer? How many product references will you offer?
- What is your quality strategy? At what quality/price level do you want to position yourself?
- Do you incorporate designs that differentiate you? Packaging or labels?
- What are their technical characteristics? What technologies do you incorporate?
- What complementary services do you offer: maintenance, installation, information, home delivery, others?
- What brand or trade name will you use? Explain your choice
- In internet projects it also tries to respond to:
- What type of users will the website have?
- What contents and functionalities will the website offer, i.e., what is it useful for users?
- What will be the structure of the website?
- What programming language, tools and software will you use?
BUSINESS LOCATION
This section is especially important in stores, hotels, tourism and services that require to be in streets or busy areas.
Indicate the characteristics of the premises, warehouse or office where you are going to set up, as well as the neighborhood or area selected.
In your essay try to answer the following questions:
- In which premises, warehouse or office will your business be located?
- How big is it? Why is it right for your business?
- Are you in a street or area with heavy traffic of people or vehicles?
- Are you going to rent or buy it?
- Does it comply with legal regulations and the necessary safety measures?
- Are you close to both customers and suppliers?
- Does it have good access and is it well connected? Is it possible to park nearby?
- Will the customer find you more easily than the competition?
- Do you need to renovate? of what type and at what cost?
Pricing strategy
Explain what the average prices will be for each of the product or service lines, their position with respect to competitors’ prices, what customers are willing to pay and the discounts and promotions planned.
In your essay try to answer the following questions:
- What will be the average prices for each type or line of product or service offered?
- Do you cover costs with these prices? And do you have enough margin to make the business viable?
- What prices do your main competitors offer?
- How do your prices compare to those of your competitors?
- Are customers willing to pay the prices you propose?
- Are you going to offer discounts based on volume of purchases, type of customer or specific dates?
- What about promotional prices?
COMMUNICATION
It details the communication, advertising and public relations actions both during the initial phase of the business launching and afterwards.
It also indicates those focused on customer loyalty. In your essay try to answer the following questions:
- What actions and media will you use to make yourself known in the first months? Which ones will you continue to make later?
- Advertising on the Internet, radio, press, etc. or through direct media such as mailings or mailings?
- Attendance at trade fairs, congresses or events, membership in associations or other public relations actions?
- Will you publish brochures or catalogs?
- Will you promote through offers, discounts, giveaways, presentations or samples, attendance at trade fairs?
- Do you plan to carry out specific communication actions to increase customer loyalty?
- In stores you must also explain your merchandising strategy and distribution of spaces and products throughout the store. It also indicates the image to be offered by the store and the shop windows.
Sales and distribution strategy
- Will you sell directly to end customers or through intermediaries?
- Which intermediaries will you use? stores, commercial agents, representatives, others?
- What conditions will these intermediaries have? exclusivity, commissions, support and advice from you, other?
- Which prescribers will you use to make your product/service known to end customers?
PRODUCTION AND HUMAN RESOURCES
Although it is the first thing you see, you must write it at the end, as its name indicates, it is a summary or synthesis. summary or synthesis.
This is a good time to be succinct. You must summarize your project without too much explanation and, of course, that it is understood.
APPLICABLE LAW
Indicates those generic or specific regulations that you must comply with in order to carry out your activity.
In your essay try to answer the following questions:
- Is there any legislation you must comply with in order to develop the activity?
- Do you have to comply with the data protection law?
- What about health and safety regulations?
PRODUCTION PROCESS
Describe how you will manufacture your product or organize the service to be provided to your customers.
In your essay try to answer the following questions:
- What tasks or functions are to be performed?
- What processes need to be developed in the business?
- Are you going to apply for any quality and/or environmental certification? ISO 9001 or other?
- How long does the production or service provision process and each of its phases take?
- How much can you produce per day or per month? What is your productive capacity?
- Are you going to use any business or commercial management computer system? POS, CRM, ERP, other specialized in your industry?
SUPPLIERS / STOCKS
This is a very important section in retail and some hospitality businesses.
Detail who your suppliers will be and how you will organize your procurement strategy and inventory management.
In your essay try to answer the following questions:
- Which suppliers will you work with?
- What are their prices? Do they allow you to obtain reasonable margins?
- How do they work? Can you get an exclusive agreement? What payment conditions do they ask for? Do you offer volume discounts? Do you require a minimum purchase volume to work with you?
- What are the products or services you offer?
- Are your suppliers as competitive as your competitors?
- How are you going to organize inventory / warehouse management? Will you use any POS or ERP software? or similar?
HUMAN RESOURCES, IDEAL STAFFING LEVELS
In this section it must be indicated:
Detail what staff your business needs, what tasks they will have to perform and how you will hire them.
Also explain your role in the business as a self-employed entrepreneur.
In your essay try to answer the following questions:
- What tasks will you be responsible for as a self-employed entrepreneur?
- Do you need to hire workers? What functions or tasks will they perform?
- If yes, please indicate which jobs you will create.
- If there are several of them, include an organization chart showing the hierarchical and interdepartmental relationships.
- What type of contracts do you foresee? Indicates the length of the working day in each case and the base salary (gross).
- How are you going to select workers?
economic and financial analysis
INVESTMENT PLAN
FINANCING PLAN
OPERATING ACCOUNT
BALANCES
SWOT
Instructions: Highlight those aspects of your project that are most relevant:
- External analysis (market research) will tell you what opportunities and threats the environment offers. Remember when writing them that they are external elements that do not depend on you.
- Internal analysis of your project and your business (commercial strategy, production, organization and resources, financial capacity) will help you determine your strengths and weaknesses in the face of the challenges posed by the environment. Here you must talk about yourself and your project.
Restaurant consulting
We are experts in the development of business plans for hotels and restaurants and we collaborate in projects of various kinds with other consultants of the BE DO IT platform . We analyze projects globally, not in isolation. In this way, we are able to offer an exhaustive analysis of the business and make a complete diagnosis of the projects. We analyze the operation from the point of view of revenue management, segmentation and everything related to the operating account of a hotel or restaurant.
