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If you can test the menu ahead of time and provide that information in the business plan, all the better.“Doing a little bit of testing and making sure that your recipes are on and that people are in the market for what you’re wanting to provide can save you a lot of money and headache, and maybe help your business survive in the long run,” says Tim.To help you get started, we’ve outlined what you should include in a business plan.
You’ll want to include who has the biggest market share, how close your competitors’ restaurants are to yours, and what advantages you’ll have over the competition.
Include an analysis on your restaurant’s location or potential locations.
“It should be a clear, concise preview of what’s to come, with the flexibility to grow and change,” Tim says.
Your executive summary should include the objectives of your restaurant and a mission statement.
Having this information thought out will help instill confidence in you from investors.
Using all of this information, you can round out this section with a SWOT analysis.
Food descriptions factor into customer-purchasing decisions at a restaurant and can be a marketing tactic for business.
Think of it as “feeding the imagination,” with descriptions that help the customer visualize how how the meal will look and taste.
Include where you’ll be doing your product sourcing and what vendors and suppliers will be used to source materials.
Determine if your restaurant will only source local or organic products — this choice could be another marketing tool to draw in customers who care about where their food is from.