A restaurant business plan is the first step towards starting a new, expanding your current, or purchasing an existing restaurant. Our developments are often used to create the vision for businesses, secure funding, secure non-repayable business grants, attract team members and/or manage the company.
Although premium establishments catering for foreign tourists and niche upper-income customers continue to be well supported, the independent restaurants remain under pressure, as cash-strapped consumers endeavour to cut back on luxury spending. In addition to dwindling customer numbers, local food and beverage service providers report higher overheads and narrowing profit margins.
Consumers are still eating out but are opting to spend less rather than frequent extravagant establishments, or simply eat out less frequently. Despite persistently high unemployment, private consumption will expand as wages increase moderately and food prices stabilise.
A focus on proper nutrition has seen the preference of consumers change from fast food to healthy meals. Consumers are mindful of what they consume more than before. Mobile apps and other digital tools enable franchises to deliver food to consumers speedily.
Restaurant Business Plan core elements include:
•Executive summary: This section states your objectives, mission, and keys to success.
•Company summary: Includes the company ownership and history, locations and facilities, as well as products and services.
•Body: A description about how your restaurant is different from others, which is part of its success. Discuss your competitive edge, sales literature and programme, sourcing, and future products and services.
•Market analysis summary: This section discusses market segmentation, target market segment strategy, and an industry analysis.
•Strategy and implementation summary: A marketing strategy and sales strategy, as well as plans for strategic alliances, are essential for keeping the restaurant trending.
•Web plan summary: Include a website marketing strategy and development requirements in your business plan.
•Management summary: This section details your management team, organisational structure, and personnel plan.
•Financial projections: Comprises of documents namely; the management account, income statement, balance sheet, cash flow, cash forecast, break even analysis, loan amortisation schedule, and fixed asset schedule. Charts, ratios, graphs, and calculations are included.
•Annexures: Include statutory information needed by funders in an application. Thia includes director and management CV’s and ID’s, tax returns, and other supporting documents.
At DTC, we understand the complexities of the criteria and requirements for an accurate and tailoured business plan. If using the plan to raise funding and/or non-repayable business grants, we guide you through the process and provide access to our wide network of funders, cross South Africa.
Contact us for more information and assistance