Opening a successful restaurant requires careful upfront planning and a solid business plan. This comprehensive guide provides aspiring restaurateurs a proven restaurant business plan template along with writing tips and real examples.
With a well-crafted plan outlining every element of your restaurant concept, from menu design to marketing, you’ll be set up for profitability and smooth operations. Let’s get started.
Taking the time to develop a detailed business plan offers huge advantages, including:
In short, a well-researched business plan is crucial for guiding your restaurant to success. Now let’s go through each section.
Here are the key sections to include in your restaurant business plan:
Executive Summary
Company Overview
Products and Services
Market Analysis
Marketing Plan
Operations Plan
Management Team
Financial Plan
Milestones and Metrics
Here is an abbreviated example restaurant business plan covering the key components:
Executive Summary
City Roots is a fast casual 85-seat restaurant in Madison, WI serving locally-inspired American comfort food and cocktails. Our concept meets the need for chef-driven cuisine with a cozy neighborhood vibe.
Our founder Andrea Watts has operated three high-grossing restaurants over 15 years. We are seeking $400K in SBA loans to fund capital expenditures and aim to break even within 18 months.
Products and Services
City Roots provides made-from-scratch recipes and handcrafted cocktails featuring regional flavors. Menu specialties will include:
Marketing Plan
Our three-channel marketing strategy includes:
We aim to become "The Cheers" of our neighborhood, where regulars are greeted by name. Our personable service and charm will fuel word-of-mouth referral traffic.
Financial Overview
Let's explore tips and best practices for completing each key section:
Executive Summary
Succinctly summarize your concept's highlights, leadership team capabilities, ideal location, five year financial outlook, and capital requirements to secure funding.
Company Overview
Demonstrate your credentials and achievements in the restaurant industry. Include progress made to date like securing a site. Provide legal ownership structure.
Products and Services
Elaborate on the style of cuisine and specific menu offerings. Describe the dining experience and ambiance in detail. Include any catering or event services.
Market Analysis
Define target customers by key demographics and values. Analyze direct competitors in your trade radius and indirect competitors. Cite area income statistics and dining spending patterns.
Marketing Plan
Detail branding, website, social campaigns, and partnerships. Outline grand opening promotion plan and ongoing campaigns. Share estimated costs and ROI for marketing activities.
Operations Plan
Describe customer journey from entry to table turnover. Share systems for point of sale, inventory, and ordering. Outline kitchen processes and sanitation. Cover staff roles, training, and scheduling.
Management Team
Introduce key players detailing previous restaurant and hospitality expertise. Outline organizational chart and structure. Share any external consultants you’ll leverage.
Financial Plan
Provide capital expenditure budget upfront. Forecast monthly and annual revenue through year five. Break out expenses like labor, food costs, rent, supplies, and more.
Milestones and Metrics
Define target opening date, first month traffic and sales goals, 6 month objectives, and 12 month profitability aim. Outline timeframes for each preparation step.
Follow these tips for creating an effective, useful restaurant business plan:
Completing a restaurant business plan is an invaluable process for strategically evaluating every aspect of your concept and setting yourself up for success.
Use this guide as a framework while customizing each section for your unique restaurant. Continuously refine details as you conduct research and make progress.
With a well-crafted, data-driven business plan in hand, you can confidently seek funding and launch your restaurant on the path to profitability. Get ready to turn your culinary passions into reality!