Creating a successful business plan for your restaurant

It seems like the restaurant industry continues to get more competitive every year. How do you keep up? How do you stay relevant? What if you’re just starting out? The first step to solving any of those questions is establishing an achievable, reliable, and simple business plan for your restaurant.

Business plans are an essential but often-overlooked aspect of opening a restaurant. They plan a role in nearly every element of determining your business’s success, from securing investors to regularly turning a profit. When you’re trying to get your business up and running, all that planning can feel like an Everest-sized feat. Keep these tips in mind as you consider your restaurant’s business plan.

Deeply consider (& reconsider) the concept behind your restaurant

It sounds like a no-brainer, but coming up with a doable concept isn’t as simple as it seems. It requires market research, community knowledge, and foresight. Will the theme of your restaurant be focused on a specific cuisine? What kind of budget is needed to achieve your concept? Does your concept complement your restaurant’s location? Developing a restaurant business plan requires a strong concept, which includes what type of food you’ll serve, the service type, and design elements.

Create a marketing overview

Opening a new restaurant is always risky. When it comes to gaining investors, you’ll need to demonstrate that you’ve thought of everything. Your restaurant’s business plan should answer the following:

• How will you generate interest in your restaurant?
• What does the competition in your area look like?
• Who will handle marketing?
• What’s the best way to reach potential customers?
• What digital marketing concepts will you include?
• What will marketing look like before opening?
• How will marketing change once you’re established?

Have the right tools

Efficiency, accuracy, safety, and waste are all things that will impact your restaurant’s revenue. Labor costs and food waste will account for much of your overhead.

Part of creating a restaurant business plan includes finding the right tools to help create a positive customer experience and, in turn, increase your profits.

We design our products with that exact purpose in mind. Whether you’re considering our DateCodeGenie® automated labeling system, DateIt Food Safety Labels, or GuestCheck™ order pads, you can trust that our products will provide the solutions you’re looking for.