We’ve covered the basics of how to write a restaurant business plan in another article, but here are a few more tips to help you make your plan stand out and create an extremely positive impression on your partners, lenders, or investors when you present it for review. inspection. .
Add a long appendix
You can include anything you can think of – the more there is, the more you’ll give the impression that you’ve been working hard to gather information, research, and generally get things started rather than just wishing it would happen.
You can include things like a sample menu, marketing materials, sample coupons, a vendor list, a staff list, an equipment list, floor plans or blueprints, photos of décor items, uniform samples, a copy printout of the restaurant’s website design, sign design, restaurant logo, sample print materials, your incorporation papers, a copy of your health permit, and literally anything else useful.
Recruit and list an advisory board
The more people you can link to the project, the more sizable it will look. Try to find people with extensive restaurant experience, business experience, or preferably both. They don’t have to agree to do anything more than meet with you occasionally to review your progress and allow you to use their names as advisors. The more the better.
Don’t worry about fancy binding
It really doesn’t make any difference. This is an area that people just don’t care about. It’s what’s inside the cover that counts.
Include financial projections
It can tell a great story, but sooner or later any serious investor or banker wants to talk numbers. Not including solid, industry-standard financial projections in your plan makes you seem amateurish at best or like you’re hiding something or just like you don’t know at worst.
Include a complete list of competition.
People aren’t starving waiting for you to open, so there should be some alternatives to your restaurant concept. Include each one and explain why you can overcome them or just coexist with them. Failing to recognize the competition displays a kind of arrogance and inexperience that most serious moneymakers will avoid.
Don’t spend too much time on national statistics.
Trends may be up or down nationally, but who cares? It’s what’s happening in your neighborhood that counts. Make sure you can explain local numbers in terms that work in your favor.
Do not write a lot of vague, vague or unsubstantiated claims
A business plan is no place to “hope things work out” and ask “people to give me a chance to show what I can do.” This is a business, and if you’re not sure you can be successful, don’t expect other people to want to invest in you. Stick to the facts and avoid anything that sounds emotional, insecure, or pleading.