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This is also a great place to discuss your business’s core values.In this section, begin to explain the high-level elements of the proposed business.
Investors expect to see a breakdown of how you plan to spend their money in the first year, as well as a comparison of the anticipated costs and projected revenue.
There are a few major elements you should be sure to include in this section.1.
Location Analysis In most cases, aspiring restaurant owners don’t have a specific location selected before they create and pitch the business plan, so focus on the general area or city you plan to open the restaurant and why you chose that specific area.
Be sure to include things like growth of the local economy, major citywide events, and infrastructure projects nearby.
It should catch the reader's attention and entice them to explore the rest of the plan.
An executive summary includes things like a mission statement, proposed concept, how you will execute on the plan, overview of potential costs, and the anticipated return on investment.
Describe the existing conditions in the market sector that your restaurant will exist in, as well as in the specific location or area that you plan to open the restaurant.
This section should cover things like the growth of the local economy and industry, existing restaurants in the area, ongoing or upcoming infrastructure projects, nearby business and residential areas, and average foot and car traffic counts in the area.1.
A business plan provides business owners, stakeholders, investors, and leaders with an organized plan for how you will make your vision for your new restaurant a reality, making sure that nothing is overlooked as you grow your business.
When you're in the weeds with construction, licensing, staffing and other operational stressors, your business plan will act as a roadmap and help you stay focused.