Creating Your Restaurant Business Plan

Creating a business plan for your restaurant can be a daunting task. Business plans are necessary when opening a new restaurant. They are meant to provide a specific, organized objective for your prospective company. Summing up your entire business in a matter of seconds is challenging but do-able. At Public Kitchen Supply we strive to help our customers from the day they begin planning their restaurant. In today’s blog, Public Kitchen Supply will provide some helpful tips on what to consider when developing a business plan for a restaurant.

One of the most important qualities of a business plan is clarity. Try to sum up the purpose of your business in 15 seconds, this is especially important for food establishments. The restaurant world is difficult to break into because it’s a very popular industry. Try to come up with qualities that makes your restaurant unique, what will make an individual walk into your restaurant over another one for the first time. Perhaps your focus is on a specialized cuisine or a special service? Your business plan must be precise and convincing. You must be able to “sell” your idea to banks or investors in order to obtain funding, all the while keeping in mind your prospective customers.

Before you even pitch your idea to banks or investors, know where your business will be located. Location can mean the difference between success or failure. How do you want your business to appear? If you want to be a casual, trendy restaurant find a location near a university or up-and-coming location. Perhaps you want to sell fine, gourmet cuisine, then a college town is probably not for you but instead a more affluent area. Be sure to consider other businesses in an area as well. It can be extremely difficult to gain new customers if you’re located next to a restaurant that offers the same food and service as yours.

Finally, know why you’re opening a restaurant. What is your vision and goals for your business? How do you plan to meet these objectives? Banks and investors will be looking for answers to questions like these. We suggest outlining your business’s goals before writing your business plan. Goals should be practical and specific. Along with business objectives create a mission and vision statement. A mission statement is a single sentence that represents your company’s philosophy and values. A vision statement is a plan to reach a long term goal. For example, ‘Our vision at restaurant A is to have a 65% customer return rate by 2016.’ Make steady, realistic goals.

Opening a business is an ambitious, grand dream. As soon as you create a business plan that dream becomes a goal; a reality. At Public Kitchen Supply we work with our customers from day one, helping you achieve your dreams. Visit our website at www.PublicKitchenSupply.com for excellent restaurant starter kits, perfect for store openings.