Sample Business Plans For a Restaurant- It can be hard making the perfect business plan. Did you know, every three seconds, someone starts a new business? Adding to the fact that 90% of start-up businesses fail, 70% of these start up businesses did not have a business plan. This is an alarming statistic on how important it is to have a business plan.
What are the main components of a good business plan?
3.)Products and Services offered
7).Keys to Success
As you can see, all are important summaries for starting a business. What potential business owners must know is, sometimes you also need a business plan even if you want to be self employed instead of registering for a business tax id with the secretary of state.
So what is the most popular business to start? Now in days, people love to start a restaurant. So that is what I am going to focus on today.
If you go down the street, what do you see on a regular basis? Of course, a restaurant and particularly fast food joints. No matter how bad the economy will become, people will still shell out major bucks to eat at a favorite food joint such as Fridays or The Olive Garden.
In your executive summary- you want to state the total summary of your restaurant in great detail. "The Fun & Chew Restaurant is a 100 seat fine-dining restaurant with a bar and grille atmosphere. We focus on all 'American' food with a touch of sea food." Of course, you will have to go into detail about where you will see your restaurant in 5-10 years. "In the future, I can see Fun & Chew being a paramount 'hang out spot' on the block." This will be your overall vision section for your business. Also state your objectives in this section. Example: " Food & Chew must keep their revenue above 40% for the first month". Basically, your objectives are strict rules or guidelines that relate directly to the success of your business.
What type of company ownership will this company be? Will it be corporate or sole proprietorship. This is the most important part of a business. Most people start off as a sole proprietorship but the liability risk also increases. Include your prices and services. Will your restaurant serve sea food? Will you serve beer at a separate bar, or will this be a family service? Your executive summary is the most important part of your business plan, so do not take this lightly. To see actual free sample business plans, click here. Sample Business Plans For a Restaurant- Executive Summary