Q:

What are some important elements of a business plan for restaurants?

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Quick Answer

Important elements to include in a restaurant business plan are the executive summary, company description, management team overview and marketing strategy. Another important element to add is a business environment analysis that includes information about the target market and restaurant location. An operations plan category provides an overview of elements such as staffing, customer service and suppliers.

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Full Answer

The restaurant business plan executive summary gives a brief overview of all elements included in the overall plan, and it should be brief and concise. The company description section should state that the restaurant is designed to be run as an independent business, limited liability company or S-corporation. This section is the place to explain the business concept and type of restaurant environment patrons can expect. If a building lease is signed, it should be included under this section, but if there isn't a lease, a general description of the prospective restaurant location should be substituted. The company description is also where a sample menu belongs.

The management team overview includes the name of each person in a management role with a brief resume. The marketing strategy section provides details about how the restaurant intends to attract patrons. Common marketing strategies include advertising, direct mail, email database of customers and loyalty programs. A more in-depth description of the restaurant's target customers should include intended demographic information.

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