Do you want to increase food sales and build a brand? If YES, here is a sample restaurant marketing plan template that will help you attract & retain customers.
Okay, so we have considered all the requirements for starting a restaurant business. We also took it further by providing an in-depth sample restaurant business plan template. In this article, we will be analyzing and drafting a sample restaurant marketing plan backed up by actionable guerrilla marketing ideas for restaurant businesses. So put on your marketing hat and let’s proceed.
A Sample Restaurant Marketing Plan Template
Table of Content
- 4. MARKET ANALYSIS
- 6. SWOT Analysis
- 10. Strategic Marketing Alliance with Our Competitors in the Restaurant Industry
1. Our Current Business Situation
MunaChimso® Intercontinental restaurant is a 150 seat family style restaurant that is solely owned by Betty O’chucks and family. Our restaurant business has been opened for three months now, and we have been able to kick start our business, based on the plans that we drew in our business plan document.
We have also been able to get all permits and licenses which will be key in the running of a successful restaurant business in Chicago. We have been able to start this business with some of the best chefs and employees in town, and this is so because we believe that we do not have to leave any stone unturned in running one of the best restaurants in town.
Our massive and well-furnished brick and mortar restaurant is located in one of the choicest areas of Chicago, and so far a lot of folks have trooped into our restaurant to behold the sight of the magnificent building and by extension order a meal. We know that with all these stuff in place, we will without a doubt become a household name pretty soon.
2.Our Mission and Vision Statement
To be amongst the top 20 intercontinental restaurant brands in the united states of America within record time
To build chains of standard intercontinental restaurants in major cities in the United States of America; a place where migrants, tourists and people of all walks of life can reconnect with their culture and heritage via their local delicacies, drinks and music.
3. Our Marketing Goals
As a restaurant that plans to serve all sorts of foods- from African dishes, Latino meals, to Caribbean, and the conventional American meals, we are poised to do all we can to make sure that we carry out all our marketing strategies with keen interest. Here are some of our top marketing goals:
- To have a minimum of 100 people walk into our restaurant every day to have a taste of our meals.
- To have about 2,500 people patronize us every month.
- Also, to have nothing less than 30, 000 people employ our services, either for eat- in services or for take- away services within the first 12 months of operations.
- We also have a pressing goal to increase our clientele base by 50% in the next 5 years and then 25% annually.
- To secure a minimum of 1,000 catering services contract within the first 12 months of operations and to increase it by 50% in the next 5 years and then 25% annually.
- To make it a point of duty to generate a minimum revenue of 500,000 US dollars within the first 12 months of operations
We aim to achieve the followings from our marketing efforts:
- We aim to achieve a sustainable growth at the rate of 25% annual sales growth
- We intend to attract customers from every industry that is active in Chicago. Since food is eaten by all, we look to attract these folks from homes, schools, churches, the banking sector, entertainment industry, amongst many others.
- We know that it is one thing to attract customers, and it is yet another to have a solid customer retention plan in place at all times. This is why we will strive to retain our customers.
- We will satisfy our present customers so well that they would have no choice than to help us with referrals and recommendations.
Our Marketing Budget
Without a shadow of doubt, there would be the need to have money in place for advertisement purposes. It is for this reason that we plan to have about 75,000 US Dollars between our first years of operations and subsequently we intend to dedicate between 5 – 15 percent of our annual revenue to marketing of our restaurant.
4. MARKET ANALYSIS
- Restaurant Industry/Market Overview
Statistics shows that within a period of a year that is from the fall of 2011 to the fall of 2012, about 4,500 restaurants opened in the United States of America despite the fact that several restaurant closed shops within the said period and about 9,000 restaurants struggled to make profits.
It is also important to note that about 80% of new restaurants are likely going to fail within their first five years of operation. This is so because when there are economic downturn, purchasing power drops; people will often cut back on their spending for eating out and they will rather prefer to cook more at home.
- Interesting Statistics About the Restaurant Industry
The restaurant industry rakes in over $709.2 billion annually in the United States with about 3.8% sales increase in nominal terms and 1.5% industry sales increase in real (inflation-adjusted) terms. Food and drinks sales of the restaurant industry in the United States reached an all – time high; 659.31 billion U.S. dollars in 2013 – far higher than the 42.8 billion recorded in 1970.
This figure was projected to rise again in 2014 to more than 680 billion. With well over 600 thousand restaurants employing approximately 13 million people in the United States, the industry caters to a variety of customer demands regarding price, food quality, dining experience and menu options, among many other things.
From recent statistics, well over 1 million restaurant locations are in the United States and they generated an estimate of $1.9 billion sales on a typical day. The restaurant industry is a major player in the employment of labor; the industry is responsible for employing over 14 million people per time. As a matter of fact, the restaurant industry is the employer of about 10% of the overall workforce in the United States of America.
5. 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
- Banks and Financial Institutions within offices in Chicago and neighboring states
- Private and Public Schools in Chicago and neighboring states
- Airports in Chicago and neighboring states
- Households within Chicago and its environs
- Offices and business centers within Chicago and environs
- Event Planners In the city, as well as outside the city.
- Factories and industrial estates in the city
6. SWOT Analysis
Our strength is anchored on our ability to serve our customers through the options of having them either visit our restaurant to have their breakfast, lunch or dinner or by delivering their orders straight to their houses, offices, or any location of their choice. The fact that we offer outdoor catering services and also culinary training counts to our advantage in the restaurant industry in the United States of America.
So far, we have been able to identify a few weakness on our part. The fact that we might possibly launch out big with a bang and start competing with major restaurant brand in the United States of America may likely count to our disadvantage, but we are perfecting plans on our own part to leverage on our moderate resources ( finance and workforce) to maximize profits.
Beyond every reasonable doubt, the opportunities within our disposal are unlimited. Restaurant business in Texas and even in the whole of the United States of America is indeed a profitable business venture. For instance; our CEO is an active member of the African community in North Africa and she is one of the highly recognized women leaders in Texas.
Another opportunity that we stand to explore is the point that our restaurant is located in a highbrow area in Huston Texas; a place with huge population of migrants from African descent Lastly, the fact that we offer outdoor catering services and culinary training gives us the privilege to market our intercontinental restaurant to our target market.
The threat that is likely going to confront us is the fact that we are competing with already established restaurants that serve intercontinental meals, and also there are other entrepreneurs who are likely going to launch similar business within the location of our business. Of course, they will compete with us in winning over the available market. Another threat that we are likely going to face is the area of government policies.
This is especially when it comes to the importation of our raw ingredients that can’t be found/cultivated in the United States from Africa, Asia and South America. We therefore fear that if the government of the United States of America places embargo on importation of our major food ingredients, it would definitely affect our business.
7. SALES AND MARKETING STRATEGY
As a result of our findings, we have adopted a strategy that will guarantee that we generate adequate income from different sources. Of course, our business goal is to run a first class intercontinental restaurant, but every other means of generating fund for the business is in line with providing delicacies to our highly esteemed customers which is our business mission. Here are the sources we have put in place to generate resources for MunaChimso® Intercontinental Restaurant;
- Selling intercontinental and local meals in our restaurant
- Offering home delivery services to our customers
- Offering outdoor catering services
- Running a top notch culinary training school
- Offering consultancy services in line with our business goal
- Sales of drinks ( local and intercontinental), wine ( local and intercontinental), beverages and water ,et al
8. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also assumptions. This is for sales projections based on what we saw.
- 150 lunches per day (on average), 12 months per year
- Typical lunches per year (in full year) is 50,200 (estimated figure)
- $50 per person on the average
- 180 dinners per day, 12 months per year
- Typical dinners per year (in full year) is 70,000 (estimated figure)
- $75 per person on the average
Sales of Drinks, Wine, Beverages and Water et al-:
- On the average over 80% of people who purchase dinner or lunch would consume drinks
- This equates to 120 drinks for lunch and 144 bottle of drinks / wine / beverage for dinner in a day
N.B-: The possibility of the figure to increase by 25 percent or more cannot be ruled out. Research shows that people who consume alcohol are generally not satisfied with just one bottle, especially when they have the financial resources to purchase a whole lot more.
9. 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.
Our Unique Selling Point; What Makes Our Restaurant Unique to Our Competitions
- Our unique selling point is anchored on the fact that our meals cuts across different races. We have got the following chefs to meet the requirements of the people. They include; Chinese, Caribbean, Latino, African, and Indian Chefs. All these folks are well trained to deliver whatever our clients want.
- We also have our specially trained chefs who are strictly on standby to deliver with outdoor catering. This is so that we do not have to interrupt the quality of service being employed at the restaurant.
- Aside from that, we intend to deliver mouthwatering and sumptuous meals with the highest level of professionalism anytime we are hired.
The Benefits Our Clients Stand to Gain When They Patronize Our Restaurant
We do not forget the fact that the industry that we have found ourselves in is a competitive one. It is for this reason that we know that there would be a thousand and one restaurants that would battle to win the hearts of consumers just the way we set out to do. We have however thought it through and through to bring something a little extra to the table so that our clients cannot help but employ our services.
So, here is what our clients stand to benefit when they patronize us. These are the benefits that a client stands to gain when they come to our restaurant or hire us;
- Quality customer service both for our indoors and outdoors clients
- Timely delivery on all front
- Competitive prices and discounts based on loyalty and referrals
- Flexibility of service delivery to fit into the schedule of our customers
- Professionalism of the highest order from our team (chefs, service boys and ladies, cleaners, waiters, and what have you)
10. Strategic Marketing Alliance with Our Competitors in the Restaurant Industry
Ordinarily, it is might not be a good idea to want to partner with other restaurants in Chicago. This is because everyone is all out to grab hold of clients and that is exactly why we are in the trade. However, we are looking to liaise with event planners that we know have a lot of rapport with those who host parties and ceremonies-particularly for outdoor catering.
By this, we are looking at letting all event planning and management business in and around Chicago to be in the know about or restaurant. This is important so that we are able to work with them especially when there are big shows that require food vendors. Also, there are cases where we might be called upon to cater for big events, both local and international.
Our Customer Retention Strategies (Ways to Improve Our Customer Experience)
We are in business simply because we want to make money and we know that we cannot make money without having customers to patronize our services- hence we have been able to map out strategies not only to win customers, but also to ensure that we retain them and make them our loyal customers.
These are the ways we intend utilizing when it comes to improving our customer experience so that we can create a good impression and generate repeat businesses from them:
- Ensure excellent meals and food deliveries at all times
- Ensure we carry out effective follow – ups on all outdoor jobs we handle
- Tailor our services to meet the needs of each of our clients.
- Make use of effective customer relationship management (CRM) software to effectively manage our clientele base.
- Ensures that we carry our clients along when making decisions that directly affect them.
11. The Possible Ways We Intend Offering Incentives to Our Customers/ Clients (Bonus, Discounts, etc.)
There isn’t anyone who wouldn’t be excited about freebies. This is why we also have in place the incentive plan to keep our customers. We intend to give out incentives from time to time to all our loyal clients and also to new customers in other to win over their loyalty.
- When it comes to giving out incentives (bonuses and discounts et al) to our clients, we plan to first and foremost reward loyal customers who have stayed with us for more than twenty four months (2 years)
- We will make room for our clients to earn commissions on any deal that they are able to secure for us through referrals and recommendations et al.
- We will also give incentives to new customers so as to win over their loyalty and generate repeated visits from them especially when it involves one – off visit to our restaurant.
- Offer added services to loyal customers during special seasons ( This could be during thanksgiving holidays, Christmas, and other spiritual celebrations)
12. After Sales Service or Customer Support
We will ensure that we offer after sales services and customer support services to all our clients. As a matter of fact, it is a corporate culture in our organization to always ensure that our customers are satisfied with our service delivery and also gives them room to give them room to tell us what else they would want us to do for them in – line with the services we offer.
We are a food service company; hence the nature of our job involves our supervising team and quality control team going around ensuring that our employees deliver the quality that is abiding by the health and safety rules and regulations as demanded by the nature of their job.
We will also go the extra mile to make sure that clients are indeed satisfied. One of the ways to do this might be through calls, emails, text messages, and what have you. The aim of this is to get words from clients on how they feel about our services.
Possible Questions We Intend Asking Our Customers during Our Market Survey
These are the 10 possible questions we are going to put forward when conducting marketing survey on our customers / clients. They include the following;
- Are you satisfied with the taste of our foods?
- Do you think they have been hygienically prepared?
- What areas would you want us to improve on going forward?
- Are you comfortable with our contract terms and conditions?
- If you are not satisfied with our contract terms and conditions, what areas would you want us to work on?
- How much are you willing to pay per meal serving?
- Would you prefer that we focused only on indoor services?
- Are there added meal services you think we have left out?
- Are you satisfied with our employee’s services?
- Can you comfortably recommend our meals and services to others?
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