Corporate Organizations Our Competitive Advantage From our research and feasibility studies, we were able to discover loads of restaurants with a couple of them serving intercontinental delicacies. As a matter of fact, most of them have stayed long enough 10 years and above in the business and they have mastered the market. The sole fact that they have stayed this long means that they enjoy robust patronage. Since we are aware of this obvious detail, we have decided to adopt a unique strategy that will help us gain our own market share, stay afloat in the industry and steadily walk our way to the top of restaurant business in Texas and in the United States of America.
Competition is intense in many markets. Customer tastes and preferences continually change, forcing restaurants to adapt or lose business. A combination of factors must be in place for a restaurant to be profitable -- excellent food, great service staff and a high traffic location.
For startup restaurants, the planning process is critical to setting the venture up for success. Customers differ on the type of cuisine they look for, the price they are willing to pay, the ambiance they prefer and how much time they have available for the dining experience.
Busy working people in their 30s seek out reasonably priced restaurants where their kids are welcome. Understanding the core customer groups you will be serving is the first step to a sound business plan. The business plan must explain your vision so clearly the reader of the plan feels as though he is dining there.
The plan must address what is truly new and different about your restaurant. These points of differentiation are what you will emphasize in your marketing campaign. Restaurant Design Your concept will suggest many of the design elements, including style of tables and chairs, color scheme and artwork.
Make sure all the elements combine to bring your theme alive and express why they were chosen in your business plan. Design also refers to the kitchen and production area of the facility. Considerations include making sure staff members have enough prep space and there is space for them to move from one station to another without crowding each other.
A poorly designed kitchen will result in lower productivity and delays in serving customers. Marketing Plan Devise your marketing plan to emphasize lower cost tactics rather than expensive TV or radio advertising.
Word-of-mouth recommendations from your customers are the best way to bring new customers through the door. Encourage this by providing discount coupons for them to pass out to friends and family.
Make sure your exterior signage is inviting and expresses your concept clearly. Become a part of your community by sponsoring sports or cultural events. Contingency Plans Think ahead about what might happen to negatively affect the performance of your restaurant, and devise strategies to cope with these developments.
A popular restaurant franchise might move into a nearby location. The cost of seafood could go up substantially, causing you to need to revise your menu. Knowing what you would do to address these issues can save you time -- and money -- when they occur.
Financial Projections Key variables in the revenue forecast are the percentage of seats that are occupied, the average expenditure per customer and the number of times the table is turned each day.
Determine your breakeven point at different assumptions for these variables. You may find you need to adjust your pricing or increase the number of tables so you have higher potential revenue.Start-up Sample Business Plan Prepared for: John Walker (9X7) 98X [email protected] Prepared by: Continental Business Plan Consulting, LLC.
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