We do this work, so it allows the ownership to have a “road map” for what they are planning. Generally, we see ownership have a god idea of what they want to do but they have not laid out in much detail what this looks like. It is important to have this business plan for ownership, Landlords, Investors, and the like. Clarity is what I see is inherently important to everyone involved and a written concept business plan guarantees this.
Flesh out the concept (Planning) which includes the menu direction, design imagery, marketing advantages (why will this concept be successful), staffing & management, branding & graphics, systems & controls, bookkeeping & management information systems, growth plan. We do a summary in this plan showing important items such as return on investment which most every party is concerned about just like any business.
Develop Financials (Projections)
- Sales & Expense proforma
- Customer counts depending upon location
- Guest check averages
- Labor scheduling (efficiencies!!)
- Capital Cost
- Build Out
- Soft Costs to include inventories, training, deposits, marketing, professional fees
- Cash Requirements to open the business
- Do monthly cash flow for the first 12 months
Just like any business venture, a successful restaurant starts with a viable concept and involves dedicated planning. You may have an idea of what you’d like to be (i.e. a steakhouse, an Asian restaurant, a pizza joint, etc.) but what will set you apart from the rest?
Hiring a professional consulting group is a good first step. We work with individuals who want to follow their passion for food and service and help them develop their ideas into a thriving reality. Some of the ways we accomplish this are to look at consumer and industry trends, the target market (demographics and psychographics), and current voids in the marketplace.
Once a concept is finalized, the real planning begins. We have a comprehensive list of items for you to consider in this planning stage, including: decor and environment, service style, server and management training, marketing and advertising, capital budgets, menu direction and pricing, sales and expense pro formas, and more. There is a lot to consider and to do before opening a restaurant, but skimping on the planning often leads to expensive mistakes or even failure.
Let us help you achieve your goals. Our combined experience will help your shape your ideas into a viable concept, and will ensure you are not overlooking the details that may hinder your success.
Contact us today for a free consultation.