10 valuable points for making a business plan for a restaurant
Importance of making a business plan
Jesper Sando Mork I Luxzas Hospitality Solutions
9/15/20241 min read
Do you have a business Plan?
10 valuable points for a business plan
Secure Funding
Estimate Costs: Include expenses like lease, equipment, licenses, payroll, and initial inventory.
Funding Sources: Explore loans, investors, personal savings, or grants.
Break-Even Analysis: Determine how much revenue is needed to cover costs.
Secure a location
Demographics: Ensure the location aligns with your target audience.
Foot Traffic: Look for areas with high visibility and accessibility
Zoning Laws: Ensure the location complies with local zoning and building codes.
Create a business plan
Concept Development - Define your type of restaurant, target market, menu, and dining experience.
Market Research: Study the competition, customer preferences, and location demographics.
Financial Plan: Project startup costs, operating expenses, and revenue forecasts.
Menu Development: Design a menu that aligns with your concept and target audience.
Register the Business and Obtain Licenses
Business Registration: Choose a business structure (e.g., Limited Partnership) and register the business.
Licenses & Permits: Obtain necessary permits like a food handler’s license, health department permits, and a liquor license if applicable
Tax ID & Insurance: Apply for an Employer Identification Number (EIN) and get general liability and property insurance.
Design the Restaurant Layout
Kitchen Layout: Optimize for workflow efficiency
Dining Area: Create an inviting atmosphere that matches the restaurant concept.
Compliance: Ensure the space meets health, safety, and accessibility regulations.
Source Equipment and Vendors
Purchase Equipment: Invest in quality kitchen appliances, furniture, and fixtures.
Supplier Agreements: Establish relationships with food and beverage suppliers.
Hire & Train Staff
Recruitment: Hire chefs, servers, managers, and kitchen staff.
Training Programs: Provide training on customer service, food handling, and operational procedures.
Payroll and HR: Set up a payroll system and manage employee benefits and labor laws.
Develop a Marketing Plan
Brand Identity: Design a logo, create a website, and set up social media profiles.
Promotions: Plan a marketing strategy with promotions, events, or opening specials.
Online Presence: Use digital marketing, review platforms (e.g., Tripadvisor), and local SEO to drive traffic.
Pass Inspections and Obtain Certifications
Health Department Inspection: Ensure the restaurant passes health and safety inspections.
Fire Department Approval: Get the fire department to approve fire safety measures.
Food Safety Certifications: Ensure staff have proper food safety training and certifications.
Plan the Soft and Grand Openings
Soft Opening: Invite a small group to test operations and gather feedback.
Grand Opening: Plan a public event with promotions to attract customers and build awareness.