Setting Up A Restaurant Business Plan

’”Restaurant business plans outline the progression and development of your restaurant from concept to several years down the road.

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Understanding the core customer groups you will be serving is the first step to a sound business plan.

A restaurant must have a strong concept -- the total package of menu, décor and service that sets the operation apart from the myriad restaurant choices available to diners.

Older consumers may like the leisurely dining experience, top quality meat and elegant décor of an upscale steakhouse.

A restaurant in a college town would emphasize fun foods, such as burgers and pizza, and price the menu to fit students’ budgets.

explains, “No matter how much thought you’ve put into your concept or how many trusted colleagues have assures you of its greatness, you absolutely must write a business plan.

It will prove the viability of your concept to potential investors and provide them with a clear and engaging answer to the question: ‘Why does the world need this restaurant?

Encourage this by providing discount coupons for them to pass out to friends and family.

Make sure your exterior signage is inviting and expresses your concept clearly.

Devise your marketing plan to emphasize lower cost tactics rather than expensive TV or radio advertising.

Word-of-mouth recommendations from your customers are the best way to bring new customers through the door.

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