Keedys Grill- The Business Plans

The Executive Summary: Your Executive Summary should be brief and two-fold, containing:

1.A well-thought-out, condensed version of the business plan, a blueprint in developing your restaurant concept.

2.The executive summary provides a banker, or potential investor, an insight into your thinking and an implied promise for profits. Condensed and to the point, the executive summary gives your potential investors the essence of the business plan without having to digest the entire document, and creates an immediate interest to read further.

The Company Structure: Describe the legal business entity that you have selected to conduct your business. Your accountant and lawyer will advise you based on your personal circumstances.

Restaurant Service Categories: How will you deliver service to your customers? Are you thinking of table service, with a wait and bus staff, or the limited staff of fast-food or fast-casual service systems? Your service concept will determine the qualifications required of the employees you will hire and the pay scale appropriate to each.

Service: What attitude and personality should your service staff display? How will they interact with your customers? From behind a counter, in a fast food setting, or up close and personal, taking and bringing orders directly to the table with a smile. Good service, plus a pleasant attitude of your wait staff goes a long way in bringing your customers back. Our website provides info about  Desert diner

Menu: Write out your menu. Be specific, with a detailed description of each menu item and projected pricing. Explain why you have selected the menu items and how they relate to your service system. Making a Caesar salad table-side does not work in a fast food restaurant. The menu and your service system are the foundation of your restaurant.

Customer Profile: In this section, you will describe your target customers, clarifying who your target market potential customers are: their age, sex, income, occupation, marital status. Present as clear a profile of your targeted customer as possible, with a sharp eye to demographics. Write out what you think it is, and then support your supposition with facts to back up how you perceive the demographics.

Competition: What are the other restaurants in the immediate area of your location? How does your concept for food, service, decor, and atmosphere differ from them? Which types of restaurants are doing the best business?

Marketing Strategy: Outline your marketing strategy, point by point. Show how it meshes with your concept. A profile of your target market is essential, especially the specific market within a one- to three-mile radius of your restaurant location. By adopting a hands-on, personalized approach in your marketing efforts, you will avoid the unnecessary expenses of a mass media campaign.

Location, Location, Location: Explain why you chose the location of your restaurant and why you feel it is best-suited to attract customers. Highlight the important demographics of your location, and why the menu, theme, and decor closely match the profile of your target market.

Ownership: List the owners/partners of your company and the percentages each will receive. Define what role they will play in the company and include their resumes. A bank will undoubtedly want to see the financial statements of each, and their last two years’ tax returns.

Management: State in detail what your management strategy will be. Will the principal owner, or owners, function as general manager or will you hire an experienced GM? Either way works, as long as you, the owner, are focused on doing the right things, and making sure that your manager is doing things right, that is, those things that make a restaurant profitable. State the key positions of your management team.

Operational Systems: Define your operational systems, the navigational instruments and rudder of your great ship. They set the course, steering the ship on a straight and smooth course. How will you ensure training, consistent ongoing operations, and effective controls? This should be summarized in your Business Plan.

Financial Requirements: Show your financial requirements in four primary areas:

  1. Construction build-out cost per square Foot
  2. FF&E (furniture, fixtures & equipment), including the decor package-pictures/paintings, etc.
  3. Professional fees: legal, accounting, architectural, licenses, permits, and miscellaneous fees
  4. Working capital: enough for opening inventories, pre-opening expenses such as training, and staying power while the business revs up.

Interior Floor Plan and Elevation Renderings: In this section of your business plan, you will need to provide a floor plan and elevation rendering of your restaurant.

Sales, Profit & Loss Projections: This section should show, in spreadsheet format, sales projections, which are critical to establishing a budget. The sum of rent, food costs, and labor costs subtracted from sales will determine the majority of your bottom line.

If you will scrutinize and research each of these steps, and follow this business plan outline, you will learn the information needed to give you the best chance for success.

July 2019
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