If not, convey that you have a solid plan in place to generate attention on your own through social media, your website, and media connections. This section should be short and sweet. What type of business structure have you set up and why did you make that specific decision? You will need to work with an attorney to help you determine what business structure is best for you more tips in the full guide. She was a very helpful, experienced outside perspective for more than just legal matters. Let your accountant guide you through this portion of your business plan.
Being conservative in these estimations is key as these three data points will be used as the basis for figuring out whether your concept is financially feasible. The key projections you can expect to work on are:. Alison Arth is a hospitality consulting professional who partners with businesses to build long-term success through establishing culture, cohesive brand identity, team training, and internal systems.
To date, she has been involved in 13 restaurant openings. Learn more at www. Concept Describe your restaurant concept and get the reader excited about your idea. Service This section is most relevant for fine-dining concepts, concepts that have a unique service style, or if you have particularly strong feelings about what role service will play in your restaurant. Management Team Write a brief overview of yourself and the team you have established so far. Design Incorporate some visuals. Target Market Who is going to eat at your restaurant? Market Overview Address the micro and macro market conditions in your area.
Business Structure This section should be short and sweet. Financials Let your accountant guide you through this portion of your business plan. The key projections you can expect to work on are: Pro forma profit and loss statement for the first three to five years of operation Break even analysis Capital requirements budget. While being unique, they are relatively inexpensive and easy to prepare.
While a premium is appropriate for the experience, the pricing has to be balanced in accordance with what we are serving. All menu items will be moderately priced. Our target customer spends more than the industry average for moderately priced establishments. This is due to our creating an atmosphere that encourages longer stays and more spending, while still allowing adequate table turns due to extended hours of appeal.
High energy and dance themed venues have significantly impacted cities from coast to coast in the nineties. Entrancing their audiences with high-powered lights, sound, music, and interactive entertainment, these venues are still one of the highest cash flow businesses in the world. Our localised studies have shown that the average person will spend three to four hours per weekend in this type of an environment and will spend an average of twenty to fifty dollars in that time frame.
As we approach the new millennium, this trend shows no signs of declining. The typical venue of our style is open from 8: Going It Alone In Business? The primary sources of revenue in a venue of this type are high volume traffic, coupled with comparably nominal spending. In addition to alcohol revenues, we will also generate substantial revenues from food sales that can typically range from seven to ten dollars per person, and admission fees that range between five and ten dollars per admit. This relatively simple concept is still quite popular today.
However, these concepts have greatly evolved with society. In recent years this industry has become more sophisticated with the availability of new technology. Larger metropolitan areas have taken this technology to new heights with sound, lighting, video and interactive designs that create an exciting and memorable experience. Fortunately, no one in Your State area has been a pioneer in this specific segment of the industry as of the date of this report.
Additionally, the nightclub and bar industry is shifting towards a more entertainment-oriented concept. Guests of these venues are not only offered a dynamic place to gather and mingle, but also a place to participate in the entertainment through interactive contests, theme nights, and other events.
We intend to heavily utilise entertainment-oriented marketing in an effort to withstand the perpetual shift in trends and cater to as large a client base as possible. Nightclubs and other drinking establishments rely heavily on their primary suppliers. The primary suppliers are the various beverage distributors that provide the establishment with both alcoholic and non-alcoholic beverages. The alcoholic beverages beer, wine, and liquor are the primary sources of income in this industry.
Other beverage suppliers also play a crucial role by providing non-alcoholic beverages.
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These are either served alone or mixed with alcohol. In the area, all major brands of alcoholic beverages are available, in addition to several regional brands of beer. Initial research shows that the major distributors in the market have a high rating in both product availability and delivery. The Nightclub competition lies mainly with other casual facilities and less with conventional and chain entertainment establishments.
Our polling has indicated that consumers think of atmosphere, price, and quality respectively. Additionally, price was frequently mentioned by pointing out that if the former concerns are present then they are willing to pay more for the experience. Our review of the market concludes that there are four entertainment venues that can be considered direct competition to the proposed new venue.
We do realise that the proposed venue will also compete indirectly for every entertainment dollar spent in the Waldport area. Free Competitor Analysis Example. Club A Hours of Operation: Wednesday through Saturday Capacity: Bar B Hours of Operation: Monday through Sunday Capacity: Grill C Hours of Operation: Club D Hours of Operation: The Nightclub will be part of the restaurant and bar industry, which includes several kinds of businesses:. By using this sample plan you can read through some of the key elements that you can use in your own organic restaurant business plan.
This restaurant business plan is for Studio67, a new medium-sized restaurant located in a trendy neighborhood of Portland, Oregon. Additionally, the restaurant procures local foods when possible, reducing their dependence on fossil fuels used for transportation. Services Studio67 offers Portlanders a trendy, fun place to have great food in a social environment. Chef Mario Langostino has a large repertoire of ethnic ingredients and recipes.
Ethnic recipes will be used to provide the customers with a diverse, unusual menu. Chef Mario will also be emphasizing healthy dishes, recognizing the trend within the restaurant industry for the demand for healthy cuisine. Customers Studio67 believes that the market can be segmented into four distinct groups that it aims to target.
The first group is the lonely rich which number , people. The third group is rich hippies who naturally desire organic foods as well as ethnic cuisine. Management Studio67 has assembled a strong management team. Andrew Flounderson will be the general manager. Andrew has extensive management experience of organizations ranging from six to 45 people.
Jane Flap will be responsible for all of the finance and accounting functions. Lastly, Studio67 has chef Marion Langostino who will be responsible for the back-end production of the venture. Chef Mario has over 12 years of experience and is a published, visible fixture in the Portland community. Most important to Studio67 is the financial success which will be achieved through strict financial controls.
Additionally, success will be ensured by offering a high-quality service and extremely clean, non-greasy food with interesting twists. Mission Studio67 is a great place to eat, combining an intriguing atmosphere with excellent, interesting food that is also very good for the people who eat there.
We want fair profit for the owners, and a rewarding place to work for the employees. Studio67 is a single-unit, medium-sized restaurant. We focus on organic and creative food. The restaurant will be located in a prime neighborhood of Portland. Most important to us is our financial success, but we believe this will be achieved by offering high-quality service and extremely clean, non-greasy food with interesting twists.
The founders of the company are Andrew Flounderson and his companion Jane Flap. Jane focuses on the financial issues and Andrew on the personnel issues. Jane earned her business major undergraduate degree from the University of Berkeley. We will be able to set up shop in time to begin turning back a profit by the end of month eleven and be profitable in the second year. The Menu The menu is going to be extremely simple but changing every day. This will help us to reduce waste and plan ingredients and purchasing. Organic Ingredients The organic ingredient element will allow us to price to the extremely wealthy Internet entrepreneurs who are looking to spend an exorbitant amount of money to have peace of mind that their money is still coming back to themselves.
We will be extremely ecologically conscious as well, and spread this across our literature. Eating at Studio67 will feel like having contributed to the Sierra Club and drinking fresh squeezed orange juice. Ethnic Ingredients and Recipes Our chef will have great latitude in designing and producing menu offerings from many different world cultures. We will endeavor to procure all the traditional, authentic ingredients necessary to hold true to these varied and interesting cultural recipes.
Interior Accoutrements People need to keep life interesting, and our artwork will reflect the world influences that are core to the attitude of the Studio67 chef. Although the crew will be different and not connect with each other in each segment, each segment is complementary to the others. The Lonely Rich Most of the lonely rich are tech workers these days, and most of those tech workers are Internet workers. Their life has become their website servers and code they write, and the people who help them to make the decisions in that world.
They hang out with each other, but desperately want to get away from it and use the money they are racking up. Because this wealth has come fairly easily for them, it is particularly easy to separate them from their money again — they spend the most on drinks, appetizers and tips. Young Happy Couples The restaurant will have an atmosphere that encourages people to bring dates and to have couples arrive. They wear tie-die but drive BMWs and crave the feeling of being in a social circle that is changing the world — even if in different ways than in their glory days.
We will cater to their ecological ideology and contribute to charities to help them part with more of their money. Dieting Women The organic food menu will always have a line of extremely delicious very low-fat meals. Studio67 will have tables of women meeting like they do in shows like Sex and the City, to discuss all types of matters while feeling good about the food they eat. Two years ago, Charles McKnight sold the pub. The establishment is now a sole proprietorship owned and operated by Ian Davis.
The company is licensed in Oregon. The building itself is one of the oldest still standing in Portland and has an old world style to it. In addition, the pub offers a limited menu of light food and snacks, and specialty items for holidays. Once the brewery begins production, we will concentrate on ale production including wheat beers, stouts, and porters as these include the more traditional types of Irish brews.
We intend to initially start with five different types of beer, eventually increasing to ten. All brews will have a different brand name. Much of this is due to the rise of microbreweries in the Portland area. Many customers are taking advantage of the proliferation of beer varieties in the U. The market segmentation is divided into the leading target markets. The division reflects the differences in marketing strategy that will be used to target each different market.
Late nighters and weekend partiers. This has created a fragmented industry in which no one participant has significant market share. This will keep initial growth slow and manageable, and will allow the management to maintain control. This includes having articles published in various travel magazines such as Oregon Magazine and US Travels and recommended by Portland Online as one of the most popular drinking establishments in the city.
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This is one of the most outstanding places for a pub in Portland as it is strategically located to attract the middle-class and upper middle-class working public during lunch and after quitting time. Presently the establishment can seat 96 customers.
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The current facilities, including two large bars and fireplace, kitchen, and plenty of room for darts, pool, and other amusements make this an excellent attraction. In addition the Pub offers domestic and other imported beers by the bottles and a full bar for mixed drinks.
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In the back the pub has a small kitchen that offers a limited menu of such things as sandwiches, fish and chips, etc. With the change in focus to a pub and brewery, Mr. Davis, the owner, plans to insure that the press is made aware of the changes in the hopes that this will create additional articles and literature. The Pub purchases large quantities of alcohol from local and regional distributors including Kitsap Distributors and Darian Beverages.
Most of the inventories of food come from Portland Produce. The pub seeks to maintain good relations with its distributors in order to insure high-quality products are delivered on time. Junkboxes, pool tables, and other amusements between are leased and serviced by the leasing company under existing contracts. The new brewery equipment to be installed in March of will come from Key West Brewery Equipment. Much of this equipment will be secondhand, but all of it will be personally selected by our new brewmaster, Mark Hudson.
Storage, kegging and bottling of our in-house brews will be done personally. The pub as a whole is a relatively low-technology establishment in keeping with its old world personally. The establishment does use a computer to track inventory, sales and other crucial aspects of profitability. In addition there is an electronic cash register used to ring up sales. Much of the brewing process done these days is computer controlled so as to insure that heat, pressure, fermentation, and other aspects of beer production stay constant and insure high quality.
This includes installation of a mash kettle, fermentation tanks, agitators, pumps, heat exchanger, refrigeration unit, etc. At this time, Mr. Davis is also contemplating expanding the limited kitchen facilities so as to furnish a larger number of meals with greater variety. However, this expansion is not planned for the immediate future. While some of this is due to the lack of initiative on behalf of the old management, much of this is due to the rise of microbreweries in the Portland area.
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In this day and age of massive fragmentation and proliferation of brew recipes, innovation and experimentation is the name of the game. Customers have an great deal of power and influence in this industry since there are virtually no switching costs. Customers regularly go to more than one pub or bar to socialize and drink. Finally, even with the rise of microbreweries, many customers still find that most pubs have the products that they seek, making the pub visit itself undifferentiated.
Suppliers also have a great deal of power in relation to the pubs and taverns.
Almost all suppliers are regional companies that have a wide variety of customers including grocery stores, liquor stores, restaurants, caterers, etc. This means that any one customer of these distributors makes up a fraction of their sales and has little influence on their prices, quality and terms. Furthermore, while these distributors often sell a wide variety of products such as produce, poultry and meat products, tobacco, and others, pubs and taverns are solely dependant upon the distributors for all their merchandise. The rivalry among other taverns, bars, pubs, etc. This is because there is a large number of them in the Portland area who are more or less equally balanced in terms of size, popularity, and resources.
Since industry growth is small, there is strong moves by all competitors to gain market share at the expense of others. The lack of a differentiated product or service by most pubs or taverns only makes this worse. In this type of environment, each firm tries to cut prices, increase services and products and cut costs. This in turn creates retaliation among rivals and leads to lower profits.
The capital costs of starting up a bar or tavern are low and access to distribution channels is quite easy. Where firms seek advantages is in gaining a favorable location, building brand equity through customer loyalty, creating a unique environment, or backward-integration by producing unique products. All this takes luck, persistence, and awareness of customer needs. Finally, the existance of substitutes creates a great deal of pressure on pubs and taverns to attract and retain customers.
In addition, grocery and liquor stores that sell alcohol are an indirect threat that offers alternatives to potential customers. These substitutes, who often offer lower costs, decrease the overall potential of the pub and tavern industry as a whole. There are a wide variety of bars, restaurants, nightclubs and other direct and indirect competitors in the Portland area. Some of the closest in terms of location and quality include the following:. Revenues are quite variable in the short-term with the majority of sales occuring on the weekends between the hours of 8 p.
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Improve inventory turnover to two-hundred turns next year in year two, and to in year three. Company Summary On The Water creates and serves a wild atmosphere for dining and eloquent mediterranean feasts for people who love the restaurant and bar scene, as well as a good time spent out on the town.
Products and Services On The Water provides delicious mediterranean cuisine, with friendly, efficient service and atmosphere. Click here to view this full business plan Related: You must be logged in to post a comment Login Leave a Reply Cancel reply You must be logged in to post a comment. Published 5 months ago on May 1, Capitalise on excellent location opportunity with swift commitment to the new Town Square development. To launch the venue with a highly publicised grand opening event in the summer of Year 1.
To maintain tight control of costs, operations, and cash flow through diligent management and automated computer control. The keys to success in achieving our goals are: Provide exceptional service that leaves an impression. Consistent entertainment atmosphere and product quality. Managing our internal finances and cash flow to enable upward capital growth. Strict control of all costs, at all times, without exception. Entertainment and dance based themes — The company will focus on themes that have mass appeal.