Today's Top TipOnline business plan scams are alive and doing very well. There's even a new wrinkle: the "crowd funding". Trust me, no one makes money but the promoters in this scheme.
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What kinds of restaurants might need a restaurant business plan? Thousands of them! Everything from Chinese take out to oceanside fine dining needs financing from time to time. Many restaurants also use their business proposals to negotiate better facility leases, or equipment leases, or get better terms from suppliers.
Restaurants needs all the punch they get, and this is one way to get it.
Truthfully, there isn't a whole lot of difference in the type of information that is needed in a Mexican restaurant business plan and a seafood business plan. They all need core information, like
... and most of all, lenders need to know that you've got the stuff to make it profitable.
That's no small request. How do you prove to a lender that you know enough to make it profitable? Especially for a restaurant this is hugely important because restaurants have one of the highest failure rates among all businesses.
There are three strong steps you can take to demonstrate your leadership skill:
(1) BIOGRAPHICAL INFORMATION. This is not a one or two paragraph summary of what restaurants you have managed. No, this is a full page outlining your successes in the restaurant industry. (And if you haven't got any successes, don't even think about getting outside financing.)
(2) UNIQUE FINANCIAL SUMMARIES. It is real easy to plunk numbers into a spreadsheet and show a very nice growth curve in your restaurant business plan. Don't do it. Find a way to demonstrate that you've got a Plan B, and maybe even a Plan C, waiting in the wings. If you've gone through tough economic times before, you know exactly what we mean.
(3) MAKE THIS RESTAURANT BUSINESS PLAN YOUR OWN. Filling in the blanks just doesn't cut it. As a strong leader, you need exceptional creativity and communication skills. Here is where you demonstrate it.
A hot dog stand won't need as much information, nor as sophisticated a presentation, as a steak house. That is why we recommend the 7 Step Restaurant Business Plan. It is flexible. It uses tools you already know, like MS Word and Excel, and it guides you through every step of the process ... no matter what kind of restaurant you are planning.
Your restaurant business plan will be unique, reflecting your cuisine and presentation. Your business plan should be equally unique, presenting your business as your waiters present your meals. There are three components that you need to create a great business plan for your restaurant.
In the midst of planning your restaurant, the menu, the restaurant furniture, the promotion ... in the midst of all of that comes your financing.
It seems like a daunting task: creating a restaurant business plan. And it can be. So we've made this as easy to use as possible. Your business proposal will be finished in no time, in 7 easy steps.
It just doesn't get any better than that.
Overall rating: (4.9 out of 58 reviews). Here's a sampling:
Charlie Denunzia. "I didn't believe that this business plan would work for a hamburger joint, but it was perfect. It gave me all the ideas I needed, and just enough of a shove in the right direction."
Jeanne d'Orleans. "Magnifique! Seriously, this process answered the hard questions, like how is my seafood and steak restaurant is different than all the others that have not made it. More to the point, I was able to convince my husband of it. My banker, too, but that was easier than convincing my husband. ~ smiley ~"
Sammy's Place. "I worked in an amazing barbeque buffet place for several years. I just moved and am opening a new restaurant, just like the other one that I worked in. The business plan really helped me get my ideas down on paper."
Carla Veneti (Alberta, Canada). "I've been planning a great Italian eatery for years. A great location just came available, and I'm going for it. Yep, I need financing. Now!"
Find something you are passionate about, and stay
tremendously interested in it.
JULIA CHILD, Chef Extraordinaire
Restaurant B Plan
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