By Lanee’ Blunt
A lender will require thatyou have a restaurant business plan so start writing it before you approach them.Having a business plan helps you to focus on things that you want to do and toget your ideas down on paper. You will be showing the bank that you are clearand you have a plan to get your restaurant open and running. Although, there areno formulas for writing one, but there are some elements that are consistentthroughout all business plans.
Executive Summary
Write an overview of yourbasic idea of the restaurant. What is the name, and where is it located.Explain why you are best for the restaurant. What previous experience are youbringing to the restaurant?
Company Description
Write the company descriptionor the business analysis. Write your mission statement. Write about the localcompetition, and the population base. How many hours and days are you going tobe open?
Marketing
What are some of the methodsthat you are going to use to get customers? How are you going to promote the restaurant?
Personnel
Tell investors about theteam and how many employees are you going to hire. Write about your managementteam. Who is going to be the general manager? What experience and education does he or she have? Who is going to bethe chef and the experience that he or she has? What is your role in therestaurant? Are you going to be the manager or the head cook?
Finance Section
The finance section of thebusiness plan should include a profit and loss statement that projects how muchyou are going to spend vs. how much to intend to make. Company incomestatements, balance sheets and other financial ratios, such as a break-evenanalysis, or a cost estimate that explains the estimated cost of the building,equipment needed, cost of installation of equipment, vehicles needed fortransportation. You may require help from your accountant or a good spreadsheetsoftware program.
Reference:
Sba: Guide for Writing aBusiness Plan