Proposal: Business and New Restaurant Essay

Submitted By sunil490
Words: 1146
Pages: 5
Open Document
Creating a Restaurant Business Plan
A business plan is essential for most new businesses seeking any kind of financing. It is absolutely imperative for a prospective restaurateur. By creating a restaurant business plan, you do two things:
• You show the bank you have a clear and concise plan for getting your restaurant up and running.
• You will learn about all the different parts of restauranting, as well as your local competition and the local market.

A business plan is especially helpful to those new to the food/restaurant industry. As you research information for your restaurant business plan, you may encounter problems you hadn’t considered previously, such as licensing, health codes and tax laws.

Most business plans have the same general parts, but some sections of your plan should be geared specifically to the restaurant industry. Here is a break down of all the necessary parts of a restaurant business plan.

1. Executive Summary- Start out with an overview of your entire business plan. Think of it as your introduction. Make it interesting, to keep your readers attention. Here are some tips for writing an executive summary geared toward a restaurant business plan.

• You want to give the reader (a potential investor) the basics of your business idea. What is the style of your new restaurant, the name, the location?
• Explain why you are well suited for this restaurant venture. Do you have previous cooking experience in restaurants? If not, do you have any experience in the restaurant business? If the answer is no, then you need to sell them on the idea that despite your lack of experience, you are still the perfect person for this new restaurant business.

2. Company Description – This part of a business plan is sometimes referred to as a business analysis. It tells the reader the location, legal name and style of restaurant you want to create. This is where you get detailed and explain your local competition, population base, and other information you have gathered during your research.

3. Market Analysis- This part of restaurant business plan is sometimes referred to a marketing stategy. There are three parts to a market anaysis:

• Industry- Who are you going to be serving? Is your restaurant going to cater to the older folks at lunch time? Single professionals at dinner? Families with young children? Explain your customer base and why they are going to flock to your new restaurant, not your competitors.
• Competition- Who is your competition? Many people opening a new restaurant assume everyone will prefer their new establishment to the existing competition. Don’t undermine the other restaurants. They already have a loyal customer base, and luring customers from that base is not always easy. Find out as much as you can about your competition, including their menu, hours and prices. Then explain in a paragraph or two how you will compete with the already established businesses.

• Marketing- What methods do you plan to use to promote your restaurant? How are you going to target your core audience? Perhaps you will offer a kids eat free night, or free lunch delivery to local offices. What is going to set you apart from your competition? Give specifics on how you plan to advertise (newspaper, TV commercials, ect…)

4. Business Operation- Sometimes referred to as Products and Services. This is where you tell investors about your hours and how many employees you plan to hire. Here is where you explain the benefits of your establishment for customers, such as its convenient downtown location, or its close proximity to the local interstate exit. This is also a good place to mention any close ties you have to local restaurant vendors, such as food supply companies or local farms that will give you a competitive edge.

5. Management & Ownership- Who is going to run the ship? Are you going to be the general manager, bookkeeper, head cook and bartender? If so, how are you going to do it all? Many
Show More

Related Documents: Proposal: Business and New Restaurant Essay

Busn 278 Budgeting and Forecasting Entire Course Essay

1 Pro Forma Income Statement (Draft) BUSN278 Week 6 Section 5.2 Pro Forma Cash Flow Statements (Draft) BUSN278 Week 7 Final Budget Proposal BUSN278 Week 7 Final Presentation BUSN278 Course Project (Papa Geo’s Restaurant) Project Overview: This is an individual project where you will be acting…

Words 2048 - Pages 9

freshies soul food Essay

Freshies Soul Food Restaurant Proposal Donna Smith BUS/211 09/15/2014 University of Phoenix Freshies Soul Food Restaurant Proposal Hello my name is Donna Smith, I’m interested in opening up a Soul food Restaurant. I’ve found a building that is waiting to be utilized. I’m in need of financing to help with the startup cost. In my opinion this investment will prove profitable in the end. My support system is amazing and their willing to give donations to help out as much as possible. I’ve also…

Words 620 - Pages 3

Chipotle Mexican Grill Essay

Chipotle may be facing some risks, preventing the company from maintaining and increasing its sales. This proposal aims to address one of its weaknesses and provides a solution to turn its weakness into strength. Currently, Chipotle is lacking in the menu options and tastes compared to its competitors such as Qdoba Restaurant Corporation. According to Paul R. La Monica, a journalist of Cable News Network, there is a serious debate online between Chipotle and Qdoba consumers comparing the two brands…

Words 1092 - Pages 5

Essay on Enterprise Architecture Proposal

Enterprise Architecture Proposal for Ralph’s Ribs For IT3200, Section 05 Rolando Rueda-de-Leon Submitted 9/17/2010 Table of Contents Executive Summary 4 Analysis of the existing foundation for execution 4 Organization Chart 5 Definition of the Operating Model for Ralph’s Ribs 5 Business Process Standardization 6 Recommended Process Standardization 6 Comparison of Operating Model 6 Core Business Applications 7 Proposal for an Enterprise…

Words 2280 - Pages 10

Gordon Biersch Case Study Essay

Assume for discussion purposes that Lorenzo Fertitta's proposal is the preferred option. What are the key issues for Gordon and Biersch to negotiate? What positions should they take on each one? Table Of Content: Case Summary…

Words 5487 - Pages 22

Essay about Pizza Pizza Royalty Ltd

unlevered firm to a levered firm. We will also explore these effects if a new tax law were to be implemented. The second part of this report analyzes the operating industry M&M Pizza would fall under, and the characteristics of the restaurant industry as a whole. We further analyze the operating strategy of M&M Pizza, contrasting it with a similar company Pizza Pizza Royalty Corporation “PPRC”, and analyze the operating and business risks of this industry. We conclude this report with an examination…

Words 5162 - Pages 21

Essay about Sugared Drinks

over 16 ounces in restaurants and other food establishments in New York City. While New Yorkers would still be able to purchase sugary drinks in these restaurants, the size they would be allowed to purchase would be limited to 16 ounces. In addition, consumers can still purchase soda and other sugary drinks of any size in supermarkets and certain delis: it s only in establishments that serve the food. I personally think Bloomberg's proposal is horrible. The government has no business telling people…

Words 677 - Pages 3

Marketing Planning for a Domestic Market Essay

economic viability for a new business or new project proposal. Breakeven analysis can be used to assess the economic viability for a new business or new project proposal as it shows the organizations expenses against their revenue. This allows the organization to identify whether the new business or proposal will make a loss or a profit. It identifies exactly how much output the organization requires to breakeven which makes it easier to identify whether the proposal is viable or not. The margin…

Words 805 - Pages 4

Overview of the Hospitality and Tourism Industry Essay

Overview of the Hospitality and Tourism Industry Introduction to Hospitality – HTM100 In the following paper, I will determine the challenges involved in managing restaurant operations that are specific to my state, as well as how I would address those challenges. Secondly, I will determine the impact of computerization on food service and lodging operations in my state. Next, I will analyze the interdependence of food service, lodging, and meeting segments of the hospitality industry…

Words 2332 - Pages 10

Shrimp Tariffs: Who Gains and Who Loses Essay

win out of it and who were the ones that had a lot to loose? It was a very close call when the U.S. International Trade Commission, announced a proposed tariff on all shrimp importing around mid year of 2004. The main targeting countries for this proposal with the tariffs were none other than China, Vietnam, Thailand, India, Brazil, and Ecuador. These six countries account for the lion’s share of imported shrimp. Of the 1 billion pounds of shrimp consumed annually in the United States, about 87…

Words 775 - Pages 4