Restaurant Business Plan

Restaurant Business Plan Outline

Restaurant Business Plan Outline Checklist: Click Here

Do you need a restaurant business plan outline that you can follow and create a great business proposal?

If that is the case the above video is for you, as it goes through all the important chapters and content that you should include in your document:

 1st- Executive Summary that consists on creating an overview of everything you can find in more detail inside the plan.

2nd- Company Summary with all the important details in terms of concept, menu, experienced offered to customers, planned location, restaurant ownership, and if you going to buy or lease the property.

3rd- Investment where you need to talk about how much you need to invest, how you will get the money, and when you will pay back to the borrower.

4th- Target Market where you define as much as possible who will be your clients, divide them into groups/segments if necessary, and explain why they will select your restaurant instead of the nearby competitors.

5th- Design includes the proposed restaurant floor plan, architectural drawings (in case you have it), mood board, and any other content that may help you define the design style that you looking for.

6th- Human Resources to explain all the people you will need to hire to start the restaurant. You should present an organizational chart of all the personnel and details about the management team.

7th- Competition analysis where you will study all the existing direct and indirect competition of your restaurant. You should also include a SWOT Analysis to evaluate your strengths, weaknesses, opportunities and threats in the market.

8th- Marketing Plan that needs to focus on your branding promises and strategies, your restaurant positioning in the market, and your customer acquisition and retention strategies. Besides this strategic decisions, the restaurant marketing plan also needs to mention your action plan and what channels you will use to pass the message to your restaurant target market.

9th- Financials is the last chapter of my proposed restaurant business plan outline and should present all the numbers that will help you explain the feasibility of your restaurant proposal. It must include your initial investment and its distribution, sales forecasts for the first years, operational expenses, and profit & loss table.

Restaurant Competitive Analysis - Importance & Necessary Steps

You must do a restaurant competitive analysis if you want your restaurant to succeed. If you don't know what your competition is doing in terms of: menu offer, pricing, signature dishes, etc.. You may taking your restaurant strategic decisions all wrong.

That is why on this week’s video, I talk about the importance and the necessary steps to create a restaurant competitive analysis that will drive your restaurant to success.

I have also created a checklist of all the aspects you should take into consideration when you doing the visits to your competitors to elaborate your restaurant competitive analysis. You can download it here.

How to Write a Restaurant Executive Summary

The Restaurant Executive Summary is one of the most, if not the most important, chapter of a business plan. I say this because when you handover your restaurant business plan to an investor or banker, he will start by reading your restaurant executive summary. After read it, he will take the decision if he should spend is valuable time reading more of it, or just should forget it and spend his time finding other opportunities to invest his money.

So in this week restaurant video tutorial, I go through all the information that you need to insert at the executive summary of your restaurant business plan, which will get the reader interested in learning more about your project.

I have also created a restaurant executive summary checklist that you can download it here, this way you won’t forget any important info when you writing it.

The 5 Key Steps to Create a Restaurant Marketing Plan that Works

If you are not sure that you need to spend time creating a restaurant marketing plan let me tell you something. What separates profitable restaurants from non-profitable besides food and service quality it is marketing. 

With this in mind, on this week video I go through the five key steps to create a successful restaurant marketing plan that drives the type of clientele you need to your restaurant. 

The five steps consist on: 

   1- Understanding the consumers by listening and researching about them.

   2- Define your competitive advantage. This competitive advantage will make consumers choose your restaurant instead of the competition.

   3- Position your restaurant according to its competitive advantage and strengths.

   4- Exceed expectations when customers are inside your restaurant.

   5- Analyze results.

You will have the detailed explanation of these five steps in the video above. I also suggest you two tools that will help you in creating a solid restaurant marketing plan. You can get more information about them at the links below:

   1- The One Page Restaurant Marketing Plan

   2- The Sales and Marketing Pro (affiliate)

If you have questions regarding the restaurant marketing plan creation, please leave your question in a comment below and I will do my best to answer it.

How to Define Your Restaurant Target Market

The Restaurant Target Market definition is a must do exercise in order to create marketing and promotional activities that drive customers to your restaurant.

You can't create successful restaurant marketing campaigns if you are addressing them to everyone, because if you want to attract 18 years old surfers you need to create a completely different poster/ad/post than if you targeting 60 years old CEOs'.
 
In this video I explain how you should define your restaurant target market geographically, demographically and psychographically, and the importance to create your restaurant customer persona afterwards.

Restaurant SWOT Analysis

Restaurant SWOT Analysis is a must do for any restaurateur that wants to drive his restaurant to success. After finishing the SWOT analysis, you will know the strengths and weaknesses that your restaurant has against its competitors, and the external opportunities and threats that can bring your business up or down.

In summary, the restaurant SWOT analysis is divided into two sections, and then each one of these two sections into two other sections. The first major section is for internal factors, meaning positive or negative factors that your restaurant has against the competition. The positive internal factor is defined as a Strength and the negative internal factor as a Weakness. The second major section is for external factors, where you should include positive and negative external factors that influence your restaurant business. The positive external factor is called an Opportunity and the negative a Threat.

So in this video, I will explain in detail what is a restaurant SWOT analysis, how you can make one for your restaurant and what you should do after accomplishing it.