How to Write a Restaurant Business Plan

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  • 0:02 The Importance of a…
  • 0:58 Business Plan Writing Steps
  • 4:03 Lesson Summary
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Lesson Transcript
Instructor: Brianna Whiting

Brianna has a masters of education in educational leadership, a DBA business management, and a BS in animal science.

How do you start a restaurant? Well, the first thing you'll need to do is write a business plan that outlines all of the details of your new venture. Come along as we learn how in this lesson.

The Importance of a Business Plan

Meet Tyra. Tyra has just decided to quit her job and start her own restaurant. She loves to cook, and she feels she would be much happier doing a job she loves. But, before she can actually start living her dream, she needs to obtain some sort of financing. You see, starting a restaurant can be costly, so Tyra needs to present her idea to her bank with the hopes of getting a loan.

In order to have a better shot at getting a loan for her new restaurant, she decides to write a business plan, which is a written document that explains details about a business and how it will meet its goals. A business plan is a crucial piece for finding financing as it documents what steps you will take to start your business and explains how you'll successfully reach your business goals.

Business Plan Writing Steps

Okay, let's help Tyra run through the main steps involved in writing a successful business plan.

Step 1

The very first step in writing a business plan is to summarize your business by describing your restaurant. Because it's the very first thing the bank will read, you really need to sell your business here. This means giving enough details to not only keep their attention, but to inform them as to what the new business will be like.

In the introduction, Tyra should be sure to include the name, address, pertinent contact information, her goals, why she's the perfect person to start a new business, and how her experiences will help her be successful in her new venture.

Step 2

The second step to writing a successful business plan is to describe the staffing and management needs and roles. The bank will want to know who'll be running your business. Will you be running it? Will you have help?

In this section, Tyra should explain what role she will be fulfilling, such as manager, cook, hostess, and so forth. She'll also explain if there are any other managers and employees that she plans on hiring and their roles as well. This is also a great place to explain any training she plans to provide so the bank will understands the staff will be capable of doing their jobs.

Step 3

The third step consists of describing the types of suppliers and vendors that will be needed. Every restaurant needs suppliers and vendors that provide any necessary tools, food, or equipment. Tyra must explain which vendors and suppliers she plans on using, what each will be providing and whether or not she has actually begun drawing up contracts with any of them.

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