First, many business creators are wondering why making a business plan, and restaurateurs are no exception. There are several reasons, but the main ones are: 1. clarify your ideas; 2. convince or reassure your potential financial partners. Consider that this step is not an option in developing your project to open or resume a restaurant. The steps to realize your business plan are the usual steps, but the specificity of this sector requires to pay particular attention to certain points to avoid encountering difficulties.
Business plan restaurant: Which customers are you targeting?
Before embarking on your business plan, what is the style of catering you plan to set up and who you want it to be: is it a themed restaurant? A fast food formula? Do you prefer an office clientele with little time for lunch? Or, would you rather orient yourself towards high-end business catering? Do you target a young clientele wishing to eat balanced? Or rather a clientele looking for a festive atmosphere? You must have concrete evidence that a market exists for your concept, such as a market study, which you will present in the Market section of your business plan.
As you can see, your business plan is there to allow you to specify your concept as precisely as possible and draw up a "portrait-robot" of your clients. This work is unavoidable before moving on to the next stage: the choice of location.
How to choose the location?
This step is not very complicated, because it responds logically to your previous thinking. Keep in mind, however, that location is one of the key factors in the success of your project. Depending on the marketing position of your restaurant and the clientele you are targeting, what is the catchment area in your sector that has the most potential? The environment and atmosphere are important, but also consider the capacity and all the elements that can intervene in your ability to quickly profit the business (purchasing power of customers, number of services, Opening possible in the evening, etc.). The choice of location will of course take into account the presence (or absence) of direct or indirect competition.
How to choose the right team for your restaurant?
The second very important point to be studied closely concerns human resources. The quality of your customer service is based on an efficient recruitment: you can have a very good location for your restaurant and do not recruit or lose customers because your service is not quality or Is not appropriate for the customer you are targeting. Take care of this part of your business plan, specifying the expectations of your customers (speed of service, quality of dishes, culinary research, diversity, traceability of raw materials, etc.) and by presenting how the match between The concept and the demand. This analysis of customer needs is also based on market research (or on field surveys).
Business plan Restaurant: Which indicators to monitor?
Two main indicators (which are not the only ones) must be clearly shown in your business plan and monitored to ensure the profitability of your restaurant project: it is your material cost and your hourly productivity rate. The material cost is equal to the ratio between the monthly consumption of materials and the monthly turnover excluding VAT. On average, this ratio should be around 30%. The hourly productivity rate, for its part, is calculated by dividing the VAT turnover by the number of hours worked. You can monitor this ratio using a chart to see how it ranges from one month to the next and be alerted immediately when there are significant discrepancies.
Do not forget your business plan design, follow a canvas (for example the one proposed by daily life spin) and do not hesitate to have it read (and re-read) by professionals of the sector. They will be able to identify any gaps or clarifications, and help you to go in the right direction.