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Links to such Third Party Materials are for your convenience and does not constitute an endorsement of such Third Party Materials.To help you get started, we’ve outlined what you should include in a business plan.Depending on the size of your organization this section may not be necessary.
The format here is applicable to any type of business.
EXECUTIVE SUMMARY [COMPANY NAME] c/o [NAME] [ADDRESS] [PHONE] [EMAIL] Panda Tip: In your Executive Summary, you want to paint a picture and create a narrative for the birth of your restaurant. Introduce yourself and your company to your reader. You can start in the opening paragraph with some abstract information but then drill down on the details in the following paragraphs. Some examples might be foot traffic from a nearby attraction, spill-over from the same attraction, or a prominent location that is uniquely visible to passers-by. In the restaurant industry, branding and atmosphere are very important factors when attracting a certain demographic.
An executive summary is the overview of your restaurant business plan.
“It should be a clear, concise preview of what’s to come, with the flexibility to grow and change,” Tim says.
Again, you are trying to paint a picture and the more color you can add to your story, the more compelling it will be to investors.
Panda Tip: The food you create is the central piece to your restaurant so be sure to go deep into that subject.You should describe the kind of atmosphere you will create along with any other reasons you will appeal to that demographic.Our Competition Panda Tip: Start general, then list specific examples of restaurants you will be competing with – most likely they will be local so research should be easy.We’ve also added some tips from Tim Felkner, a serial entrepreneur and restaurant consultant in San Francisco.His insights will help you determine the ingredients necessary to build a plan that will win people over and set you up for success. Also, you may want to highlight obvious weaknesses and state how you are prepared to address them. If you have a few strengths, don’t be afraid to write more than a paragraph about them.In analyzing your competition, you can highlight both their strengths and weaknesses which will give your reader some context and allow you to explain why your restaurant will appeal to your target demographic over the competition.Our Specific Marketing Plan Panda Tip: Although word-of-mouth will certainly be important for any restaurant to succeed, there are many ways to help penetrate your local market through active marketing efforts – e.g., Groupon, Penny Saver, etc. Be sure to remember the context that you have created in the preceding paragraphs, however.You should provide tantalizing descriptions and photos to really drive the point home. Whatever it is that you can use to paint a descriptive and full picture is worth including.OPERATIONS PLAN Panda Tip: Really paint the picture of your restaurant here (and include pictures or mockups of the setting). You can also go in depth with regard to agreements you have with suppliers or arrangements with suppliers that you will be seeking out.