So you have a brilliant business idea about starting a great restaurant? Do you already have a business plan? Oh sure! It might be the best plan ever, except for the part where the world does not know of it because it is locked somewhere safely in your head. If you could, you would make it all happen in a day, but you need investors to put in their deep pockets, right? No one has money to burn nowadays you know; forget the stuff you see in a great business proposal, movie, film or pretentious reality shows.
Here in the real world; if you are going to convince anyone at all to invest in your dream restaurant you need a professional restaurant business proposal, which I am sure you know how to write! If you don’t panic, there is still hope for your dream restaurant to be born. This article will take you through the steps you need to follow to learn how to write a professional a business plan. You can start by finding an example of a Business Plan Template for your project, which you can customize to you own ideas.
Finding a market for your restaurant business is the first thing you have to do. Find out who is available to try the cuisines at your restaurant. You need to convince your investors that your business has a reliable and diverse source of income, with not just one niche. For example, you can write in your business proposal that when your restaurant is closed, you can rent it out for filming a movie. This will influence your investors to reach into their pockets, as you are not only demonstrating your culinary talents, but your entrepreneurial and creative thinking as well.
Next, you need to identify the capital required to start your restaurant. These are both the tangible and intangible things necessary to start your restaurant. Identifying your required capital is essential to determine how much initial investment money you need to successfully open shop. You will need the obvious cutlery, furniture and some intangible things, like timing and goodwill.
Rather than starting a new place you can consider reopening an old one that closed down some time back and have the obvious advantage of people knowing that there is a restaurant at your location. On the other hand, a fresh start will make sure that your customers judge your cooking only by its own merits. Research a few other places for your restaurant and choose the best place. The best location is one that will present you the opportunity to be easily accessible by private and public transport by the high-end neighborhoods which will mainly be your customers.
Determine startup cost by making a list of all the requirements for the entire restaurant and estimating the cost of each. Then look at more information on how to write a business plan. You can keep it basic to begin with. You are going to need gourmet chefs for your restaurant as well, so you should include them in the restaurant business plan.
How to Start a Restaurant: Developing a Business Plan