If restaurants are doing poorly, explain why yours won’t; if restaurants are doing well, explain how you’ll be able to compete in an already booming restaurant climate.
At a micro level, discuss who your direct competitors are.
It will prove the viability of your concept to potential investors and provide them with a clear and engaging answer to the question: “Why does the world need this restaurant?
” “The point of a business plan is to show that you’ve done your homework,” says Charles Bililies, owner of Souvla, a fine casual Greek restaurant in San Francisco that has received national acclaim since opening in the spring of 2014.
You want readers to be confident that your restaurant’s “ideal” diner intersects with the neighborhood(s) you’re proposing as often as possible.
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If you don’t have a site, this is a good place to discuss what you’re looking for in terms of square footage, foot traffic, parking, freeway accessibility, and other important details.
Your business plan will be the road map from which your new restaurant develops.
No matter how much thought you’ve put into your concept or how many trusted colleagues have assured you of its greatness, you absolutely must write a business plan.
Today, it’s all about how to build a business plan that makes investors pay attention.
Read on, then get the guide and enter the contest here.