Restaurant Business Plan Template Everything You Need

Restaurant Business Plan Template January 11, 2023

Priyanka Bhadani

Writer

What to Include in Your Restaurant Business Plan Template

Every potential owner in the restaurant industry needs to write a business plan. A restaurant business plan includes a mission statement and a list of long-term objectives. It discusses how the management team will streamline operations once the restaurant business is open.

At each phase of development, the business plan template serves as a guide for the new restaurant. Whether at the design stage or the night before the grand opening, an effective plan template will ensure the owner completes each required task.

Involved stakeholders or potential investors will also need to view any business plans. When the owner acquires licenses, permits, and real estate properties, investment teams will know exactly what's happening and when. Effective business plans let investors know that the owner is serious about the restaurant concept. They will have an incentive to provide the required capital and support the owner needs.

So how exactly does an entrepreneur in the hospitality industry get started? First, it's best to download a restaurant template online to ensure all the key aspects are included. Read ahead for the top elements to include in a restaurant business plan -

1. Restaurant Business Plan Template Cover Page and ES

The cover page should include any restaurant marketing, such as a logo, brand fonts, the address, phone number, or other contact information. An executive summary is a section directly after the cover page. It outlines the restaurant's vision and a summary of what else is in the remainder of the plan template.

An EA also includes the company description, mission statement, restaurant concept, execution plans, startup costs, operating expenses, and potential ROI for the new business.

2. Restaurant Business Plan Template - Company Overview

This section describes who the general manager is, where the restaurant is located, and a brief outline of the business model. It also discusses whether the restaurant is fast food, fine dining, or fast-casual. It should describe the menu items and why they will appeal to a target market.

The owner should also list any onboarding policies, menu design plans, or the layout of the restaurant. Finally, he/she should include the general hours of operation and customer capacity. Investors should have a deeper understanding of the restaurant brand when they finish reading this section.

3. Restaurant Business Plan Template Industry Analysis

Owners should include a market analysis that describes the conditions the restaurant will operate in. They should also define the demographics of the city or the surrounding area of the new establishment. Other aspects in this section include -

Target Market - Define why the restaurant will stand out in a saturated industry. What type of customer service will the owner provide? Why is this restaurant concept unique? This will give investors the confidence to provide the capital required to open the business.
Location Analysis - If there isn't a set location yet, the owner should describe the general city or area surrounding the establishment, and why he/she picked that location. Include data on the local economy, events, businesses, or other relevant factors.
Competitive Analysis - This section drills down into the competition and who they are. Reiterate why the new business is unique in comparison to these other established companies. A competitive matrix template can let investors know that the owner understands the niche the restaurant will operate in.

4. Restaurant Business Plan Template Marketing Plan

The marketing section describes the plan to promote the restaurant on social media, in the news, or elsewhere. The owner should list any specific techniques or tools he/she will utilize, and whether a PR manager is on staff to help.

The restaurant should describe its social media following, the target audience's social media habits, and any other relevant information. If the owner plans to utilize email marketing or harness relationships with charities/vendors, he/she should include that information too.

5. Restaurant Business Plan Template Operations Plan

This section describes how the restaurant will operate each day upon opening. Elements to include in the operations plan portion of the business plan sample are -

Staffing Owners - should list all of the available positions and how they plan to run the business and treat employees. They should also include any onboarding processes.
Customer Service Procedures - The owner should summarize the desired customer experience and level of procedures to meet these objectives.
Technologies - Any technologies such as POS systems or other restaurant management systems should be listed here too.
Suppliers - The restaurant should describe its vendors, where it plans to buy equipment, and how often it will need new inventory.

6. Restaurant Business Plan Template Financial Analysis

Investors need to see how the restaurant plans to spend money the first six months to a year. Elements to include in this section are -

Investment Strategy - The owner should describe how much capital is required to open the business and how he/she will handle the cash flow.
Profit and Loss Statement - The owner needs to include a potential profit and loss statement, estimate costs, and gauge sales numbers for the next year. This will give investors the confidence to invest in the restaurant business.
Break-Even Analysis - Investors need to know about how much money the restaurant expects to bring in per month, once all other startup/operating costs are factored in.
Expected Cash Flow - The cash flow depends on how often the restaurant plans to buy inventory, how many staff members are on hand, and what the schedule for payroll will be. Analysis won't be exact, but it will provide a rough idea of what investors can expect for the first year or so.

Key Takeaways of a Restaurant Business Plan Template

In conclusion, here is how to write a restaurant business plan -

The restaurant should include a cover page and executive summary to describe the mission statement, the restaurant concept, potential expenses, and any of the owner's core values.
The owner should include a company overview of the structure, location, and management style.
Industry analysis should include the target market, a location analysis, and competitive analysis.
The owner should include a marketing plan, operations plan, staffing requirements, customer service procedures, vendors, technologies, and financial analysis. The financial analysis should include an investment plan, a projected profit and loss statement, a break-even analysis, and the expected cash flow for the next year.