I want to start a restaurant business
Can you write a business plan for me? I want to start a restaurant business and then grow the business into a large chain.
Answer
The best person to write a business plan is the person who has conceived the idea, because they know what their plan is for the business. If anyone else such as a consultant writes it, or you take one from the internet or use my template, the business proposed will not be true to your plan, but someone else’s.
There is an expression about consultants that says “they will borrow your watch to tell you the time “. Even if you do work closely with a consultant, that will be expensive, and will not force you to ask yourself a lot of searching questions about your new business.
So the best person to write the plan is YOU. That said, there is a sample business plan on this website in the starting a business module
The module suggests you carry out market research before you write the plan. This will establish what the market is like, what the competition is, what they are selling, their pricing structure.
You may need to develop a formal business plan to access finance. Once you have written one it is a good idea to revisit it annually and update it. Lenders may ask to see it annually.
A good template forces you to consider the rationale for your business, review every aspect of it, and forecast likely profitability.
When banks and investors are considering a loan application, they are interested in businesses that can demonstrate good cash flow management, a strong balance sheet, a well thought out business plan, a great management team, a good business record, and are planning to develop and grow the business. They are interested in recovering their investment! A business plan is the way to showcase all these points.
Also, if you make an application for a grant or any other State Aid, they will inevitably ask to see your business plan. It is always easier to update an existing plan that to start from scratch.
There are several different formats for business plans, none is right or wrong. It should define exactly what you want to achieve and how you plan to achieve it.
Your plan should include at least; –
- What the business does
- The products or services it delivers
- How products or services are delivered to customers, e.g. online, home delivery, click and collect, by phone, in a high street shop
- The pricing strategy
Include the objectives of a business, development strategy, marketing plan, competition analysis, management structure, number and type of employees planned and financial details.
The reader should be able to clearly understand your Vision for the company and how you plan to implement your strategy to achieve your goals. You are the person best situated to explain and outline that.
Best of luck with the new Business