Why write a business plan for your restaurant or cafe?
Writing a restaurant business plan is an invaluable part of building your business. It’s about gathering information that will serve you in the long term. The facts you will gain about your market and your competitors will help you start out on the right foot, and the insight you will develop into your own motivations and expectations will increase your confidence in yourself and help you make clear decisions.
At Hospitality Coaching we assist owners in writing relevant and useful restaurant business plans because we know that there can be long term benefits. Getting some professional advice sooner rather than later can save you time, money and stress in the long run.
Here are some of the areas you might want to address in preparing your restaurant business plan:
Company Description – A statement about the nature of you business, a mission statement and a description of anticipated future outcomes
Industry Analysis – Here you will need to be clear about where you see your business fitting into the industry and why it will succeed.
Products and Services – What will your restaurant offer? How will it address the demands of the local demographic? What style of food/ ambience will you create? What will you offer that makes you unique?
The Target Market – Here you will need to understand the local population and how and why your restaurant will appeal to different sections of the community.
Hospitality Coaching can also advise on these important considerations for your restaurant business plan:
Developing a Marketing Plan and Sales Strategy
Management and Organisation
Long Term Development and Exit Plan
Writing a Manual for your restaurant
Once your business is in operation, one of the single most important things you can do is to create clear operational manuals.
Manuals are the key to a smoothly running business. They provide consistency to your customers and to your staff and, once written, will always be there as the bottom line to refer to in times of crisis.
At Hospitality Coaching we encourage businesses to produce manuals because we know from experience that in the long term a well written manual is worth every hour you put into it.
Contact me on 0411 1234 74 or send me an email about how to get started on your manual or restaurant business plan.