Restaurant Business Plan Template
PandaTip: In your Executive Summary, you want to paint a picture and create a narrative for the birth of your restaurant. Get people emotionally invested in your vision. Introduce yourself and your company to your reader. Talk about your planned opening location. You can start in the opening paragraph with some abstract information but then drill down on the details in the following paragraphs.
Make sure you discuss your competitive advantages. Some examples might be foot traffic from a nearby attraction, spill-over from the same attraction, or a prominent location that is uniquely visible to passers-by. What separates you other than that? Is it your atmosphere? Your prices? Unique dishes? A famous chef? If you have a few strengths, don’t be afraid to write more than a paragraph about them. Also, you may want to highlight obvious weaknesses and state how you are prepared to address them.
In order to fulfill our vision for [RESTAURANT NAME] we will require [AMOUNT] in capital, which will be allocated roughly according to the following table:
Use of Capital
If we are fully capitalized, we hope to be profitable by [TIME].
PandaTip: Go in depth a bit here to describe some of the assumptions you are making regarding profitability. Anyone can make a profitability claim. If you want to really sell people on the idea, you need to explain the “why.”
PandaTip: Here you want to define your demographic and explain how you will hook in that demographic. In the restaurant industry, branding and atmosphere are very important factors when attracting a certain demographic. You should describe the kind of atmosphere you will create along with any other reasons you will appeal to that demographic.
PandaTip: Start general, then list specific examples of restaurants you will be competing with – most likely they will be local so research should be easy. In analyzing your competition, you can highlight both their strengths and weaknesses which will give your reader some context and allow you to explain why your restaurant will appeal to your target demographic over the competition.
Our Specific Marketing Plan
PandaTip: Although word-of-mouth will certainly be important for any restaurant to succeed, there are many ways to help penetrate your local market through active marketing efforts – e.g., Groupon, PennySaver, etc. Which ones will you choose and why? Be sure to remember the context that you have created in the preceding paragraphs, however. Your marketing plan has to make sense given the demographic you are targeting and the strengths and weaknesses of your competition.
Head Chef: [NAME]
Sous Chef: [NAME]
Head Chef, [NAME], [BACKGROUND]
Sous Chef, [NAME], [BACKGROUND]
PandaTip: The people running your kitchen are particularly important to the success of any restaurant. Therefore, it’s best to highlight their experience and put a face, name, and personality to the people that will be preparing food for your clientele. Get into their background, their experience, and even their hobbies. Again, you are trying to paint a picture and the more color you can add to your story, the more compelling it will be to investors.
PandaTip: The food you create is the central piece to your restaurant so be sure to go deep into that subject. You should provide tantalizing descriptions and photos to really drive the point home.
PandaTip: Really paint the picture of your restaurant here (and include pictures or mockups of the setting). Don’t just make it a mechanical description of the people being put into rooms. If you have a fountain, say it. Lots of plants, say it. Rich mahogany walls, say it. Whatever it is that you can use to paint a descriptive and full picture is worth including.
You can also go in depth with regard to agreements you have with suppliers or arrangements with suppliers that you will be seeking out. This goes to the heart of your restaurant – its food – so it is important to at least touch upon the sources from where you are purchasing your ingredients.
We expect our monthly outlay of expenses to approximate to the following:
Type of Expense
PandaTip: This section is where you introduce your key non-kitchen personnel – i.e., President, CEO, Legal Team, Accountants, etc. Depending on the size of your organization this section may not be necessary. For instance, if you are the Head Chef, President, CEO, and entire Board of Directors for your company, you can include that information in your Head Chef profile. Or you could move that down here. It’s entirely up to you how you want to paint the picture of your organization.