Coming Up With A Killer Business Plan For Restaurant
Every successful
restaurant has so much more going for it than just the lip-smacking and innovative
cuisine, excellent customer service and a warm ambience and impeccable
hospitality. A lot of its success has to do with the core theme and concept
that goes behind planning the restaurant and most importantly, the business
plan. A solid business plan is a must for any enterprise, particularly in a
customer oriented sector like hospitality. This is why coming up with the best business
plan for restaurant is very important. Your business will go nowhere if you do
not have a solid revenue and operational plan backing it up. This is why you
should always consult experts if needed rather than going by the trial and
error method which can prove to be costly, particularly if you are focusing in
competitive markets like Dubai which is home to some of the world’s biggest and
best restaurants.
A business plan for
restaurant should contain several things. Firstly, there should be a
feasibility study, i.e. the chosen location for the restaurant and how feasible
the business will be in terms of attracting customers. There will be targets
location-wise for attracting a set number of customers each day and most
importantly, the type of restaurant has to be chosen in terms of its core
concept, the time to plate for dishes and the kind of items across various
price points. Operational costs should be worked out along with salaries and
other payments in order to evolve an operational model that will help the
restaurant run profitably and build up a capital base which will keep it
surviving even in lean months.
Comments