Are you about starting a restaurant business? If YES, here is a complete sample restaurant business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a restaurant business. We also took it further by analyzing and drafting a sample restaurant marketing plan template backed up by actionable guerrilla marketing ideas for restaurant businesses. So let’s proceed to the business planning section.
Table of Content
- Executive Summary
- Market Analysis
- SWOT Analysis
- Financial Projection
- Marketing Plan
- Marketing ideas & Strategies
Why Start a Restaurant Business?
Starting a food business may sound easy, but the truth is that if you are looking to start a restaurant, such that you do not want to die a quick death, then you have got to do the needful to make sure that it does stand the test of time. There is quite a lot that is needed to be done in order to see that your restaurant business does take flight within the period that you have projected it to be. The question therefore is; what is the top priority on the list that must be cancelled?
What Does It Take to Start a Restaurant Business Successfully?
Well, it is the business plan. So, you already know by now that businesses need business plans to project and tag along. Writing a business plan to many might come as a herculean task. This is because of the many technical areas that may likely appear gray.
It is for that reason that business plan templates can be drawn from the internet and even from business books, so that you can have an idea of what it is like to draw up a business plan for yourself. This would entail that you carry out adequate research in order for you to find the type of business plan that will suit your business since there are different types available.
That is not all. You will need to make sure that you have the real reasons why you want to be in the line of business you have chosen. That means there has to be a real connection between you and the people whose food problem you want to solve.
And this could be categorized as the vision and mission of being in business as you will see in the sample business plan as you forge ahead. Other areas that might require some math and reckoning could be worked out along the road as you get acquainted with the sample business plan.
You too can now write your own business plan by fixing in the appropriate details of your business after you have gone through the sample restaurant business plan below;
A FREE Sample Restaurant Business Plan Template
- Restaurant Business Overview
Whether you are a foodie or not, truth is that as humans food is one essential thing that just must not be toiled with. It is no wonder that plenty die of starvation where there is nothing to eat to replenish lost strength. As such, the restaurant business all over the globe is one business that generates huge income annually and can comfortably stand the test of time if well managed. Any business person who gets involved in the food industry is sure to get good returns on investment if the business is well positioned.
One good thing about the restaurant business is that an owner has the sole right to determine the price they want to sell their menu irrespective of what others around them might – especially if they are good with the delicacies they whip up.
There is no contesting the fact that food is one of the basic needs of people. It is for that reason that a myriad of people do all it takes to eat when they are hungry and Restaurants are such places that is designed to address such needs. There are various kinds of restaurants all over the world. Here are a few examples. We have:
- Fast food restaurants
- Intercontinental restaurants
- Local restaurants
- Family style cafeterias
- Casual dining restaurants
- Fast casual restaurants, amongst others.
These cafes are designed to meet various needs of different tribes, creeds and races. In most cases, it is the community where the restaurant is to be situated that certainly determines the style of restaurant service to be offered. For example; if one decides to start a restaurant business around a construction site; choosing an intercontinental style of restaurant or a family style restaurant might just be the best option.
Conversely, some might want to start a local restaurant, casual dining restaurant or even a fast food style restaurant irrespective of where they are located. However, if you choose to start a restaurant in a city that hosts thousands of international tourists and migrants, then starting an intercontinental restaurant will be your best options.
Over and above, it pays an individual to acquire culinary skills, as well as undertake a thorough and exhaustive feasibility studies before choosing the style of restaurant to start, the location to set up the business and the pricing system to adopt for the business.
Sample Restaurant Business Plan Template – MARKET ANALYSIS
- Market Trends
The market trend when it comes to intercontinental restaurant / delicacies is that; most of the clients that patronize these restaurants are not necessarily from the country where these meals originate from. As such, they just want to have a feel of the meal perhaps out of curiosity.
For example; people that patronize Chinese restaurants are not necessarily Chinese folks. People from different country and culture just love Chinese meals and they are willing to pay a premium when compared to the prices of what normal menus – local meal goes for.
In essence, when you run an intercontinental restaurant, your target market should not be restricted to only migrants from the regions where the meals originates from, but everyone who is willing to explore when it comes to foods. With good publicity, the meal of a foreign country can become popular in the US just like Chinese delicacies, Mexican delicacies and what have you. Part of the marketing and sales strategies that we will adopt includes:
- Opening of our intercontinental restaurant with a big party ( This means that we plan to invite people from diplomatic communities, the corporate communities and people from and within the neighborhood where the business is located)
- Neighborhood, door to door and mouth to ear mode of adverts to introduce our business
- Engage in road shows ( make some open air noise) to introduce our business
- Send proposals to embassies and corporate organizations to handle their kitchen arm of business(especially for their employees)
- Start a TV show in line with our business goal and objectives
- Sponsor relevant events, such as cooking competitions, and cultural events, et al.
Our Target Market
We are quite aware that the target market for restaurant cum food business cuts across people of all walks of life, since everybody needs food to survive and we are prepared to meet the needs of as much people as we can, within the various locations our intercontinental restaurant will be located. In order to stay focused on the kind of business brand we intend building, we have clearly defined certain groups of people as our main target. They are:
- International Tourists
- Top Executives
- The Diplomatic Community
- Corporate Organizations
Our Competitive Advantage
From our research and feasibility studies, we were able to discover loads of restaurants with a couple of them serving intercontinental delicacies. As a matter of fact, most of them have stayed long enough (10 years and above) in the business and they have mastered the market. The sole fact that they have stayed this long means that they enjoy robust patronage.
Since we are aware of this obvious detail, we have decided to adopt a unique strategy that will help us gain our own market share, stay afloat in the industry and steadily walk our way to the top of restaurant business in Texas and in the United States of America.
And part of the strategy that will give MunaChimso® Intercontinental Restaurant competitive advantage in the market place is; the point that we will not only serve various intercontinental delicacies in a cozy environment that will make our customers connect with their culture and heritage, we will offer home delivery services, we will offer culinary training and we will also offer outdoor catering services, as demanded by our clients.
Sample Restaurant Business Plan – SALES AND MARKETING STRATEGY
We are quite aware that the market for intercontinental meals is on the increase, and we are also aware that loads of restaurants in the United States of America deal in intercontinental delicacies. In view of that, we have been able to work out plans that will help us win a large percentage of our targeted market over.
It is also important to state that we will continue to change or improve our marketing and sales strategy, until we are able to get a hang of the kind of result we are looking for. In essence, our sales and marketing strategy just like every one of our business strategies will remain flexible. In nut a shell, we will explore the following marketing and sales strategies to promote our intercontinental restaurant business:
- Direct Marketing (Staff)
- Via Our Sponsored TV Programs
- Erect Our Billboards in Strategic locations around the city
- Making use of sales Agents
- Sales Reps
- Online Marketing (via our official website, social media platforms and blog et al)
- Referral Marketing
- Revenue Sharing Business Partners (Event Planners and Contractors)
- Public relations during our culinary training sessions and outdoor catering services
Our Pricing Strategy
Good foods definitely do not come cheap, but we are sure going to work towards fixing prices that will be pocket friendly. Our various intercontinental delicacies might not come cheap when compared to local meals or everyday meals in the United States of America, but we will try as much as lies within our power to strike a balance between making profits and satisfying our highly esteem customers.
Our strategy for fixing prices will be solely driven by what is obtainable in the industry, alongside sampling the opinions of our targeted market on the amount they will be willing to pay for various intercontinental meals.
- Payment Options
Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;
- Payment by cash
- Payment via Point of Sale (POS) Machine
- Payment via online bank transfer (preferably for those that will order our products and would want us to deliver it to them, those that wants to attend our culinary training, as well as for payment for outdoor catering services)
- Payment via check (preferably for those that will order our products and would want us to deliver it to them, those that want to attend our culinary training program and for payment for outdoor catering services)
- Payment via Mobile money
In view of the above, we have chosen banking platforms that will help us achieve our plans without any itches.
Restaurant Publicity and Advertising Strategy
Restaurant business just like any other business in the food industry requires media hype to get people to buy into the brand. We are quite aware of this and we have decided to make provisions for serious promotion of our brand. Here are the platforms we intend making use of to promote and advertise our business;
- Place adverts on national TV stations, Radio Stations and Newspapers / Magazines
- Run our own TV program
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , Badoo,et al
- Install our Bill Boards on strategic locations
- Engage in road show from time to time
- Distribute our fliers and handbills to targeted areas from time to time
- Send out introductory letters to multinationals, embassies, and Diaspora organizations and networks in and around Texas.
- Generating Funding / Startup Capital for MunaChimso® Intercontinental Restaurant
We don’t have the intention of bringing business partners outside the family to invest in the business, at least for the first 5 years of running the business that is why we have restricted raising our startup capital to;
- Generate part of the start – up capital from my savings
- Source for soft loans from family members and friends
- Apply for loan from the bank
N.B-: We have been able to generate about $120,000 and we are at the final stages of obtaining a loan of $80,000 from our bank. All the papers and document has been signed and submitted, the loan has been approved and any moment from the now our account will be credited.
Restaurant Business Plan – Sustainability and Expansion Strategy
The bigger picture of MunaChimso® Intercontinental Restaurant is to grow the business beyond Huston, Texas to other major cities in the United States of America. As such, we intend spending the first 5 years of the business in building and communicating our brand to our targeted market.
We have plans to sell our franchise to interested entrepreneurs who have what it takes to become our ambassadors. We know that once our brand has been accepted by the general public, it will be easier for us to successfully sell our franchise to interested entrepreneurs who intend leveraging on our brand to start their own business.
In addition, we will ensure that we invest in regular training and development of our work force. We will not stop at exploring various intercontinental meals from all parts of the world.
Check List / Milestone
- Culinary Training Plan : Completed
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Renting of Facility and Construction of the Restaurant: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members and friends: Completed
- Applications for Loan: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Marketing / Promotional Materials: In Progress
- Recruitment of chef and other key employees: In Progress
- Purchase of the Needed furniture, electronic appliances and kitchen equipment: In progress
- Purchase of Kitchen Utensils, plates, cups, cutleries, and other accessories: Completed
- Negotiation with Freelance Sales Reps: In Progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and in the neighborhood: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Opening party / launching party: In Progress
- Compilation of our intercontinental delicacies / Menu list : Completed
- Design and preparation of our cooking guide
- Design and preparation of our culinary training modules: Completed
- Arrangement for trainers and training facility: In Progress
- Establishing business relationship with vendors – suppliers of raw food ingredient: In Progress
- Establishing relationship with vendors – suppliers of drinks, wines, beers, and all forms of drinks: In Progress
- Purchase of delivery vans: Completed
- Purchase of motor bikes for delivery: Completed