Skip to Content

Korean Restaurant Business Plan [Sample Template]

Are you about starting a Korean Restaurant? If YES, here’s a complete sample Korean Restaurant business plan template & feasibility report you can use for FREE to get started.

Aside from Chinese and Mexican restaurants, another culture niche restaurant that is really thriving in the United States of America is the Korean Restaurant. If you are a Korean living in the united states and you looking towards leveraging on the vast population of Korean descent in the US to generate revenue, then one of your best options is to start a Korean Restaurant.

The truth is that if you can successfully start a Korean restaurant in the United States, your clients aren’t going to be just Koreans but every other person within your location who love exploring delicacies from different parts of the world.

A Sample Korean Restaurant Business Plan Template

1. Industry Overview

The Korean Restaurant industry is made up of restaurants that prepare and serve Korean food and offer table (waiter) service. Food can be prepared to either be eaten on the premises at restaurant locations or for take-out. A recent report published by IBISWORLD shows that the industry’s barriers are low since initial capital expenditures are relatively low.

An operator can lease premises, equipment, furniture and fittings, lowering initial capital costs, outlays and borrowings. The report further stated that the industry concentration is low, as the top four players combined account for less than 5.0 percent of the industry in 2018.

This low concentration indicates the small-business and fragmented nature of this industry. This limits barriers to entry as new entrants do not need to compete with large establishments with large economies of scale. However, there is significant competition among restaurants to obtain suitable locations for their restaurants.

The industry has performed in line with many core industries within the larger food services sector as a whole over the past five years. The truth is that, after years of flying under most Americans’ culinary radar, Korean restaurants have experienced increased popularity in recent years.

A number of Korean cuisine mainstays, such as barbecued meats; fried chicken; and sour, fermented pickled vegetables, have recently come into culinary vogue, driving the popularity of the meals this industry dishes out. In addition, many food trucks at the forefront of the recent street vendor craze have offered Korean fusion delicacies (like bulgogi tacos), further bolstering the cuisine’s visibility.

The Korean Restaurants industry is a thriving sector of the economy of the United States and the industry generates over $6 billion annually from more than 7,060 registered Korean restaurants scattered all around the United States of America.

The industry is responsible for the employment of over 81,142 people. Experts project the industry to grow at a 3.9 percent annual rate between 2013 and 2018. Please note that no single Korean restaurant can boast of having the lion share of the industry.

The Korean Restaurants industry has minimal barriers to entry, with minimal startup capital and no specific licensing requirements. On the other hand, the high level of competition and market saturation in a declining industry can prove challenging to aspiring entrepreneurs who want to start their own Korean restaurant.

Most players in the Korean restaurant line of business are small – to medium – size establishments that cater to the local and international community. In a nutshell, the Korean Restaurants industry is a profitable industry and it is open for any aspiring entrepreneur (not just Koreans) to come in and establish his or her business.

2. Executive Summary

Ho Kim® Korean Restaurant, Inc. is a registered Korean restaurant business that will be located along one of the busiest roads in San Diego – California.

We have been able to lease a facility along a major road that is big enough to fit into the kind of classy Korean restaurant that we intend launching and the facility is located in a corner piece directly opposite the largest Asian community in San Diego – California.

Ho Kim Korean Restaurant, Inc. will be involved in full-service dining varieties of Korean delicacies, beverage sales and take-out meals et al.

We know that that there are several Korean restaurants all around San Diego, which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering.

We have self – service options for our customers, and our outlet is well secured with the various payment options. We are aware of the trend in the restaurant / fast food industry and we are not only going to operate a system where our customers would have to come to our Korean restaurant to make purchase, but we will also operate an online service and our customers can place orders for our delicacies online.

Ho Kim Korean Restaurant, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Our plan is to position the business to become one of the leading brands in the China restaurants industry in the whole of San Diego – California, and also to be amongst the top 5 Korean restaurants in the United States of America within the first 10 years of operation.

This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are confident that San Diego – California is the right place to launch our Korean restaurant before opening our restaurants all across major cities in the United States of America.

Ho Kim® Korean Restaurant, Inc. is a family business that is owned by Mr. Ho Kim and his immediate family members.

Mr. Jo Kim is a Korean – American food maven, he has a B.Sc. in Hotel Administration, with over 10 years’ experience in the restaurant and fast food industry. Although the business is launching out with just one outlet in San Diego – California, but there is a plan to open other outlets all around San Diego.

3. Our Products and Services

Ho Kim® Korean Restaurant, Inc. will ensure we make available well – prepared Korean delicacies to our clients. Our product and service offerings are listed below;

  • Korean dishes by type (Royal court dishes, Grilled dishes, Steamed dishes, Raw dishes
  • Korean dishes by ingredient (Meat-based dishes, Fish-based dishes, Vegetable-based dishes, Soups and stews, Grain dishes, Banchan (side dishes), Guksu / noodles)
  • Snacks (Kimbap, Buchimgae, Other snacks)
  • Anju (side dishes accompanying alcoholic beverages)


  • Beverages
  • Distilled water

4. Our Mission and Vision Statement

  • Our vision is to become the leading Korean restaurant in San Diego – California and to establish a one stop Korean restaurant in other cities in the United States of America.
  • Our mission is to establish a Korean restaurant business that will make available varieties of well – prepared Korean delicacies and drinks at affordable prices to the residents of San Diego – California and other cities in the United States of America where we intend opening chains of classy Korean restaurants.

Our Business Structure

Our intention of starting a Korean restaurant business is to build a standard Korean restaurant in San Diego – California. Although our Korean restaurant might not be as big as that of leading players in the industry, but we will ensure that we put the right structures in place that will support the kind of growth we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer (Owner)
  • Restaurant Manager
  • Human Resources and Admin Manager
  • Chefs
  • Sales and Marketing Manager
  • Information Technologist
  • Accountants/Cashiers
  • Waiters/Waitress
  • Van Drivers/Deliverers
  • Cleaners

5. Job Roles and Responsibilities

Chief Executive Officer – CEO (Owner):

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives
  • Accountable for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out induction for new team members
  • Accountable for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office activities.

Restaurant Manager:

  • Responsible for managing the daily activities in the restaurant (kitchen inclusive)
  • Ensure that the restaurant facility is in tip top shape and conducive enough to welcome customers
  • Interfaces with third – party providers (vendors)
  • Reports to the Chief Executive Officer
  • Attends to Customers complains and enquiries
  • Prepares budget and reports for the organization
  • Any other duty as assigned by the CEO


  • Responsible for preparing different Korean delicacies as requested by our clients
  • Oversee the entire coking process
  • Responsible for training new cooks
  • Makes sure that quality is maintained at all times
  • Ensures that the kitchen is kept clean at all times
  • Any other duty as assigned by the Chief Chef/Restaurant Manager.

Sales and Marketing Manager

  • Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents the company in strategic meetings
  • Helps increase sales and growth for the company

Information Technologist

  • Manages the organization website
  • Handles ecommerce aspect of the business
  • Responsible for installing and maintenance of computer software and hardware for the organization
  • Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
  • Manages the organization’s CCTV
  • Handles any other technological and IT related duties.


  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports
  • Responsible for financial forecasting and risks analysis
  • Performs cash management, general ledger accounting, and financial reporting
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization


  • Promptly attends to customers in a friendly and professional manner
  • Ensures that un-occupied tables are always set and ready for customers
  • Pulls out chairs for customers as they arrive
  • Handles any other duty as assigned by the Restaurant manager

Van Drivers:

  • Delivers customer’s orders promptly
  • Deliver correspondence for the restaurant
  • Runs errand for the organization
  • Any other duty as assigned by the floor/line manager


  • Responsible for cleaning the restaurant facility at all times
  • Ensures that toiletries and supplies don’t run out of stock
  • Handles any other duty as assigned by the restaurant manager.

6. SWOT Analysis

We are quite aware that there are several Korean restaurants all over San Diego and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

Ho Kim® Korean Restaurant, Inc. employed the services of an expert HR and Business Analyst with bias in restaurants to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. Here is the summary of the SWOT analysis that was conducted for Ho Kim® Korean Restaurant, Inc.;

  • Strength:

The location of our business, the business model we will be operating on, varieties of payment options, wide varieties of Korean delicacies and our excellent customer service culture will definitely count as a strong strength for Ho Kim® Korean Restaurant, Inc.

So also, we have professional Korean chefs under our payroll and a management team that has what it takes to grow a new business to profitability within record time.

  • Weakness:

For a business like ours, a major weakness that we will be dealing with is the normal teething stages that new business goes through and maybe having enough financial reserve to pay topflight Korean chefs.

  • Opportunities:

Our restaurant is located in San Diego – California a city with a huge number of Koreans and lovers of Korean delicacies provide us with vast opportunities.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our restaurant; we are well positioned to take on the opportunities that will come our way.

  • Threat:

As it is applicable in any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new Korean restaurant in same location where ours is located.


  • Market Trends

Korean restaurants have leveraged their growing popularity and increasingly presented high-end offerings. Many Korean restaurants are offering unique dining experiences to consumers and the popularity of Korean flavors at food trucks and in “foodie” media have set the stage for growth in this line of business.

A notable trend in this line of business is the fact that people that eat Korean delicacies eat them because of their health benefits. Hence, when it comes to keeping consumers’ appetites satisfied, Korean restaurants have created new menu options that capitalize on the trend of increasing awareness of the health risks associated with a high – fat diets.

The industry has also thrived by developing products at price points attractive enough to weather the slow recovery, resulting in strong revenue growth. These trends are expected to contribute to revenue growth going forward.

In this era when the online community is growing rapidly, you would do your Korean restaurant business a whole lot of favor if you create your own online presence. One of the easiest ways to get people to see you as an expert in your line of business is to blog constantly about Korean menus.

You may also want to leverage on social media platforms like Instagram, Facebook, and Twitter, and others to publicize your Korean restaurant. You can as well go ahead to open an online Korean restaurant where people can place order from your restaurant. You must ensure that your delivery system is efficient if you intend to do well in your business.

8. Our Target Market

We are aware of the fast growing patronage of Korean delicacies in the United States of America and this trend is not going to abate anytime soon and loads of entrepreneurs are leveraging on this.

In view of that, we have positioned our Korean restaurants to service the residents of San Diego – California and every other location where our chains of Korean restaurant will be located. We are in business to retail wide varieties of Korean delicacies to the following groups of people;

  • Event Planners
  • Corporate Organizations
  • Households
  • Schools
  • Corporate Executives
  • Business People
  • Sports Men and Women
  • Students
  • Tourists

Our competitive advantage

Our ability to control stock at hand, adopt new technology and of course our easy access to multi – skilled and flexible workforce are part of the competitive advantages that we will be bringing to the table. Our Korean restaurant is located in a corner piece property on a busy road directly opposite one of the largest residential estates with a huge population of Koreans in San Diego – California.

One thing is certain, we will ensure that we have wide varieties of Korean menu, alcoholic drinks, beverages and coffee et al available in our restaurant at all times. It will be difficult for customers to visit our restaurant and not make a purchase.

One of our business goal is to make Ho Kim® Korean Restaurant, Inc. a one stop Korean restaurant. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the restaurant / fast food industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.


  • Sources of Income

We are in the Korean restaurants industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives. Our source of income will be the retailing of the following products at affordable prices;

  • Korean dishes by type (Royal court dishes, Grilled dishes, Steamed dishes, Raw dishes
  • Korean dishes by ingredient (Meat-based dishes, Fish-based dishes, Vegetable-based dishes, Soups and stews, Grain dishes, Banchan (side dishes), Guksu / noodles)
  • Snacks (Kimbap, Buchimgae, Other snacks)
  • Anju (side dishes accompanying alcoholic beverages)


  • Beverages
  • Distilled water

10. Sales Forecast

One thing is certain when it comes to Korean restaurants, if your restaurant is centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in San Diego – California and we are quite optimistic that we will meet our set target of generating enough profits from the first six months of operation and grow the business and our clientele base.

Below are the sales projections for Ho Kim® Korean Restaurant, Inc., it is based on the location of our business and other factors as it relates to Korean restaurant startups in the United States;

  • First Fiscal Year: $240,000
  • Second Fiscal Year: $450,000
  • Third Fiscal Year: $750,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

Prior to choosing a location for Ho Kim® Korean Restaurant, Inc., we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for residents of San Diego – California.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the Korean Restaurants industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in San Diego.

In a nutshell, Ho Kim® Korean Restaurant, Inc. will adopt the following sales and marketing approach to win customers over;

  • Open our Korean restaurant in a grand style with a party for all.
  • Introduce our Korean restaurant business by sending introductory letters alongside our brochure to corporate organizations, event planners, households and key stakeholders in and around San Diego
  • Ensure that we make wide varieties of Korean delicacies and drinks in our restaurant at all times.
  • Make use of attractive handbills to create awareness and also to give direction to our restaurant
  • Position our signage / flexi banners at strategic places around San Diego – California
  • Position our greeters to welcome and direct potential customers
  • Create a loyalty plan that will enable us reward our regular customers
  • Engage on roadshows within our neighborhood to create awareness for our Korean restaurant.

11. Publicity and Advertising Strategy

Regardless of the fact that our restaurant is well located, we will still go ahead to intensify publicity for the business. Ho Kim® Korean Restaurant, Inc. has a long – term plan of opening chains of classy Korean restaurants in various locations around California and key cities in the United States which is why we will deliberately build our brand to be well accepted in San Diego before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Ho Kim® Korean Restaurant, Inc.;

  • Place adverts on community based newspapers, radio and TV stations
  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
  • Ensure that our we position our banners and billboards in strategic positions all around San Diego
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Contact corporate organizations, households, religious centers, schools and event planners et al by calling them up and informing them of Ho Kim® Korean Restaurant, Inc. and the products we sell
  • Advertise Ho Kim® Korean Restaurant, Inc. business in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and delivery vans and ensure that all our staff members wear our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more and we don’t intend to charge less than what our competitors are charging per meal. Be that as it may, we have put plans in place to offer discounts once in a while and also to reward our loyal customers especially when they come in as a group.

We are aware that there are contracts for supply of Korean meals at events, and we will ensure that we abide by the bidding pricing template when we bid for such contracts.

  • Payment Options

The payment policy adopted by Ho Kim® Korean Restaurant, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that Ho Kim® Korean Restaurant, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer

In view of the above, we have chosen banking platforms that will enable our client make payment for meals and drinks purchase without any stress on their part.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget on achieving our aim of establishing a standard Korean restaurant. In essence, these are the areas we are looking towards spending our startup capital on;

  • The total fee for registering the business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
  • Marketing promotion expenses for the grand opening of Ho Kim® Korean Restaurant, Inc. LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
  • The cost for hiring business consultant – $2,500.
  • The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
  • The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
  • The cost for construction of a standard Korean restaurant and kitchen – $100,000.
  • Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
  • The cost for start-up inventory (cooking ingredients, alcoholic drinks, soft drinks, beverages, coffee and serving wares et al) – $80,000
  • Storage hardware (bins, rack, shelves, food case) – $3,720
  • The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
  • The cost for store equipment (cash register, security, ventilation, signage) – $13,750
  • The cost of purchase of delivery vans – $50,000
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
  • The cost of launching a website – $600
  • The cost for our opening party – $10,000
  • Miscellaneous – $10,000

We would need an estimate of $350,000 to successfully set up our Korean restaurant in the United States of America.

Generating Startup Capital for Ho Kim® Korean Restaurant, Inc.

Ho Kim® Korean Restaurant, Inc. is a private business that is solely owned and financed by Mr. Ho Kim and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

These are the areas we intend generating our startup capital;

  • Generate part of the startup capital from personal 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 $100,000 (Personal savings $80,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The survival and viability of any business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.

One of our major goals of starting Ho Kim® Korean Restaurant, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our Korean delicacies a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Ho Kim® Korean Restaurant, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • 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
  • Leasing of facility and remodeling the facility to fit into a standard Korean restaurant: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: 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
  • Printing of Packaging Marketing/Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party/launching party planning: In Progress
  • Compilation of our list of products that will be available in our shop: Completed
  • Establishing business relationship with vendors – suppliers of cooking ingredients, coffees, alcoholic drinks and soft drinks – In Progress.