An easy way to kick off this section is by talking about the founding concept — what made you set up this restaurant?
Then you can cover the specifics, like the type of food you’ll serve and how you’ll adapt your menu to reflect popular trends.
They also include the objectives of a restaurant, its mission statement and the key factors that will make your business successful and set it apart from competitors.
The pivotal question to answer is: why do people need my restaurant?
Now it’s time to get serious about the mechanics of how you’ll get it off the ground and make money.
Investors, co-founders and partners are going to be an important part of the journey.“I think if a business plan is overly optimistic and says, ‘Oh, we’re going to beat our competition in every category,’ that’s probably not realistic.You’re probably going to be able to beat your competition in some categories and not others.” What to include: Everyone — including investors — wants to know what’s getting served up at your restaurant, so be thorough when writing out a sample menu in your business plan.A SWOT analysis studies strengths (competitive advantages), weaknesses (shortcomings or lack of expertise), opportunities (that your restaurant can benefit from), and threats (that you’ll need to beat).Splitting these areas out makes it easier to make the most of the good and plan to tackle the bad.What to include: A market analysis explains your industry, competition and geography to help you and the reader understand your restaurant’s position in the market: An industry analysis is a qualitative and quantitative assessment of the market.Think trends, economic factors (such as ingredient shortages), consumer spending and attitudes and so on.This section is designed specifically for you to include menu items, descriptions and the ingredient lists needed to make your food and drinks.Descriptions heavily influence whether people gel with your menu, so they can be used as a marketing tactic.And all of that tends to matter and influences whether your business is going to be successful or not,” says Tim.Few (if any) businesses have a perfect market position.