There are two good reasons you need to study
the sample restaurant business plan research: (1) your lender has, and (2)
you want to succeed.
KEY CONSIDERATION
Restaurants and clothing stores have the
highest failure rates of all businesses. No one doubts that you can
cook. You are probably an extremely good cook. Maybe even a star
chef.
But what do you know about business?
Honestly.
More than anything else, you must be able
to demonstrate that you have full command of demographics and industry
averages. No, your restaurant isn't "average". But you
better know why the figures are outside of the norm, if indeed they are.
STRONGEST ADVANTAGE TO
THIS SAMPLE RESTAURANT BUSINESS PLAN RESEARCH OUTLINE
Bankers and lenders understand numbers. They
may not know a spatula from a gravy ladle, but they know numbers. More
to the point, they expect you to know numbers too.
There are two major sets of research that
you need to know backwards and forwards: the demographics of your
clientele, and the financial norms for your type of restaurant.
THE DEMOGRAPHICS IN
YOUR SAMPLE RESTAURANT BUSINESS PLAN RESEARCH GUIDE
Executive chef: Know thy
client. Every single page of your business plan needs to actively
demonstrate that you know who your clients will be, where they will come
from, how much money they make, how much they spend going out to meals, how
often they go out, AND how close in proximity they are to your restaurant.
Sometimes restaurants are set in
"restaurant districts" like State Street in Chicago or the Golden
Triangle in Beverly Hills. Sometimes they are set in shopping malls,
like McDonalds or Olive Garden. Sometimes they are stand alone units,
like the sushi place around the corner.
Whatever demographic clientele your
restaurant focuses on, every single page of your business plan must point to
that group, from the design of the facade through how payments are received.
Get the Marketing Numbers the Lenders Get.
There are several places where you can get
reliable demographic stats for your sample restaurant business plan research
outline. These numbers are critical for your marketing plan
presentation.
First, check with the restaurant and
hospitality organizations that you belong to (and, yes, you MUST belong to
some). They often compile stats for use by members. Do ask how
current the stats are, and how they were compiled.
Check with your local city and county
planning departments for both current demographics and projected
demographics. These stats are most reliable from areas that are
growing -- new developers and businesses of all sorts rely on them.
Also, check with your local bank. Ask
if they provide demographic information for business development in the
area. Hey -- the worst they can do is say No.
Or get demographic information for
metropolitan areas from BizMiner. In
the menu on the left, click on "View All Reports", then on "Area Demographics". Then in
the little blue box on the upper right hand of the next page, select your
state or your metropolitan area from the drop down menu.
You can see a sample of what the report
from BizMiner will be by looking at the bottom of the page.
For even more specific information, click
on "Find a local business summary" toward the bottom of the
page. In the page that appears, choose your state, metropolitan area,
or county. Select your business from the list of industries on the
next page.
These are the numbers that are most used by
bankers and lenders of all sorts.
AS THIS SAMPLE
RESTAURANT BUSINESS PLAN RESEARCH OUTLINE DEMONSTRATES, EACH RESTAURANT TYPE
ALSO HAS UNIQUE MARKETING AND FINANCIAL ELEMENTS.
A burger joint is not The Pump
Room. The financials won't remotely compare. What you need
are financial summaries for your specific type of business.
Go to BizMiner.
At the bottom of the page, click on "Restaurant" . Holey maloney.
By clicking on Casual Dining, Drinking Places, Food Services or
Specialty Restaurants, a whole slew of options pop up. You will discover sample restaurant business plan
research data for
| Eating places |
Ethnic food restaurants |
American restaurant |
| Cajun restaurant |
Chinese restaurant |
French restaurant |
| German restaurant |
Greek restaurant |
Indian/Pakistan
restaurant |
| Italian restaurant |
Japanese restaurant |
Korean restaurant |
| Lebanese restaurant |
Mexican restaurant |
Spanish restaurant |
| Sushi bar |
Thai restaurant |
Vietnamese restaurant |
| Pakistani restaurant |
Ice cream and soda
fountain |
Frozen yogurt stand |
| Ice cream stands |
Snow cone stand |
Soda fountain |
| Soft drink stand |
Fast food restaurants |
Box lunch stand |
| Carry out only |
Chili stand |
Coffee shop |
| Delicatessen |
Drive in restaurant |
Fast food restaurant,
chain |
| Fast food restaurant,
independent |
Food bars |
Grills |
| Hamburger stand |
Hot dog stand |
Sandwiches and submarine
shop |
| Snack bar |
Snack shop |
Lunchrooms and
cafeterias |
| Automat |
Cafeteria |
Luncheonette |
| Lunchroom |
Lunch counter |
Family restaurants |
| Pizza restaurants |
Seafood restaurants |
Oyster bar |
| Seafood shack |
Steak and barbecue
restaurant |
Barbeque restaurant |
| Steak restaurant |
Buffet |
Cafe |
| Caterers |
Chicken restaurant |
Commissary restaurant |
| Contract food services |
Diner |
Dinner theater |
| Health food restaurant |
|
|
Note the different types of reports
available for each type of restaurant. When you get them, study
the daylights out of them and incorporate your findings into your
business plan.
STARTING
YOUR NEW RESTAURANT
 |
Priced at under $45,
your 7-Step Business Plan for a Restaurant is a real bargain. Set your priorities.
Make the right decisions as you plan for your new restaurant
because this may be your best opportunity for real success.
Click on the book cover
for more information.
|
THE LAST
WORD ON YOUR FREE SAMPLE RESTAURANT BUSINESS PLAN RESEARCH
Use the sample restaurant
business plan research as a guide in developing your own financial
projections. Know too that every single business is going to fall
outside the "norm" in some respect. Know where that
happens in your business. Be prepared to discuss it intelligently
with your lender/investor.
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Sample Restaurant Business Plan Research
