5 Things to Consider Before Writing a Restaurant Business Plan

August 12, 2016 Andrea Victory

 

Before you set your pen to paper or start typing out the opus that will become your comprehensive business plan, you’ll want to have considered a few key things. Knowing the answers to these questions will make writing your business plan and communicating your vision a hundred times easier. Take some time to think about the answers so they will be top of mind as you go through each section in the template.

 

 

1. Who is this for?

Are you approaching investors, is this guide specifically for you and your staff? You’ll want to have the reader in mind, and will need to write accordingly to convey details and information to different audience types.

 

 

2. Where will you be located?

If you don’t yet have a location in mind, narrowing down what area of town or specific neighborhood you’ll be in is necessary. Your restaurant’s location will dictate very important elements of your business plan like competition, ingredient availability, venue type, etc. If you’re in the very early stages it may be hard to know your exact address, but nailing it as close as you can will help keep consistency in your business plan as you get closer to opening.

 

 

3. What is your venue type?

You may have a very clear idea of what kind of restaurant you’re going to run whether it be an intimate cafe, craft microbrewery, or gourmet food truck. But if you aren’t quite sure yet, you’ll need to get on that before setting pen to paper. So you know you want to run a place with organic fare and fresh juices, but there are major differences between a quick-service vegetarian lunch spot and a raw fast casual venue, even though they may seem similar. You should know exactly what your venue is going to be as you work through the questions and details of our business plan.

 

 

4. What are your goals?

Are you hoping to start a food truck and then grow to open a sister restaurant or are you wanting to open a full-service restaurant and grow to turn your concept into a franchise operation. Be as specific as you can in your vision and be clear on exactly what it is you are setting out to achieve.

 

 

5. What are your credentials?

Have you worked in the industry before? How well do you know the market? Do you need any additional skills before you embark on this adventure? If you’re confident you have the technical, leadership and food skills, that’s great - go get started! But if you’ve always dreamed of running a busy lunch spot and you’ve never spent any time in a kitchen or in the foodservice industry, you may want to go get some hands on experience so you know what you’re getting into.

 

 

By thinking about your vision, getting clear on your goals, and honestly assessing your skills, your business plan will paint the true picture of your business and how it can go from concept to concrete.

 
 
 

About the Author

Andrea Victory

Andrea is a Content Marketing Specialist and Editor at TouchBistro where she writes about restaurant and dining trends, restaurant management, and food culture. A self-affirmed food geek, Andrea devours cookbooks and food blogs. She also knows how to make a killer kale salad.

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