Develop a ‘mock schedule’ to determine required personnel, hours, and pay scale needed for your concept and size of location to back up your statements.
Start-Up Analysis: One of the most important sections for a start-up.
What concepts are thriving in your area and which ones seem to be struggling?
Analyze the top ten in the area on market share, perception of value, quality of menu, quality of service, local marketing, location advantages, and perceived financial background.
Financial Management: The final section should be used to outline the financial projections (month-by-month) for the first three years.
It should also highlight break-even points, daily traffic analysis, key financial goals, key performance indicators, financial summaries (income and balance statements), and debt repayment plans.Location Analysis: Based on the market size, concept style, competition, and menu, what is an accurate property size and where should it be precisely located?What are the required design elements, size of parking, and overall square footage needs?Industry Analysis: Break down the industry as a whole in your region. What are the growth patterns and average profit percentages? What technology is available and how can it help your concept?Operations Management: Outline potential hours of operation, staffing requirements, ownership qualities, management qualities, training programs, payroll management, food & beverage vendors, and emergency contacts.A business plan will also further prove the viability of your restaurant concept, by solidifying your feasibility study and concept development plan while providing not only you, but other third parties, clear answers to the industry’s most challenging questions; indicating you’ve done your homework and are prepared for the road ahead.Your plan should be reviewed, adjusted, and measured against results throughout the start-up phase and ongoing operations.Things can happen fast during the start-up phase in particular.Having a properly written and researched plan, will better position you to understand solutions to common problems such as property surprises, construction delays, hiring challenges, being strapped for cash, and finally, having little to no customers during the first one to two months of operations.You also want to further explain the need and why this ideal customer profile will go to your restaurant, how often, and how much they will be willing to spend (all backed up with facts).Competitive Analysis: Who are your direct and indirect competitors?