Mind you, there is no shame in hiring assistance from a consultant, for whom writing a business plan is routine. Address the following points, and you'll find that the skeleton of the plan will take shape. You might not be Hemingway, but once you have adopted a structure for your business plan, "fleshing out" the content will flow more easily than you might expect.
Anything less than great has a big chance of being turned down." It takes big hunks of time and lots of research to create a great one. "Creating a business plan for the first time is too daunting of a project for most newbies," says Dave Ostrander, who is known as "The Pizza Doctor." "Even we 'Old Grizzlies' often shudder at the task. But when it comes to documenting their dream, the enormity of the task can be overwhelming. For successful operators, their expertise, in many cases, stems from their ability to conceptualize their dream of owning a successful restaurant.
This is the part where many would-be operators and experienced restaurateurs struggle. Most folks have a deadly fear of the blank sheet of paper or screen. The common question that gets asked in business is, 'why?' That's a good question, but an equally valid question is, 'why not?' ~ Jeff Bezosįor most business people, the most daunting aspect of creating a business plan is the writing process. (As with any good reference, you will want to provide a table of contents that outlines the content in the plan.) If you want to achieve your objectives, keep your business plan simple, but make it easy for its readers to find the answers to specific questions they may have.
For information specifically on preparing the financial projections, please go to " How to Create Realistic Financial Projections for Your New Restaurant". This article covers the essentials of preparing a restaurant business plan. They then want to open the doors as fast as possible to create cash flow. Too many operators put all their planning into simply getting financed. For one, restaurateurs often want to get the ball rolling quickly. So why do so many restaurateurs forsake this critical step, without which many entrepreneurs wouldn't even open a lemonade stand? Unfortunately, some operators don't understand how crucial a well-planned opening is to the success of their concept. Tactics without strategy is the noise before defeat. Strategy without tactics is the slowest route to victory. In short, many restaurateurs agree that having a sound business plan was the single most important ingredient in making their new business a reality. Without it you are unlikely to receive funding from anyone other than the most trusting or unsophisticated sources of financing. It is your script of how the business ought to be. Not only does it provide direction, it requires you to consider all the pitfalls and opportunities of your prospective enterprise, well before you open its doors.
These may be more important to a successful opening than menu design or table and chair selection.Ī business plan is your roadmap for the future of the business. You need proper training, established operational procedures, and a creative marketing plan, before you open. Hard work, great food, and the will to succeed are not enough. Article How to Create a Winning Restaurant Business Plan Joe Erickson