The brain child of the idea should be to provide the best food and best customer service, before calculating or estimating the profit percentage.
Only a happy customer and a happy staff can make you earn profit. Thus hiring smart and skillful staff is as important as deciding the menu, only then one can expect quality of service is being justified.5.
Keeping details of profits and loss along with the details of expenditure, paying the staff well, and distribution of profits will show your devotion and dedication towards the business.
A business plan for Restaurant is absolutely necessary for a potential restaurateur for it concentrates on two things.
Financial plan: The basic of restaurant business or any business is to earn the profit and that is fair enough only if you work on the finance or hire a trust worthy accountant.
The financial plan should reflect the details of how much needs to be invested, how much should be asked from the investors, what is the expected profit, how can more profit be earned and overall financial projection.
Here are a few points to remember while writing a business plan:1.
Executive Summary: Do not over explain things in details like never ever disclose the uniqueness of our company or service. No company displays their core business plan to others, for example the restaurant might allow you to see the kitchen, might let you talk to the chef, but it would never ever let the secret recipe out to the customers, and that is the baseline of restaurant business.2.
Objective of the business: This is required to put forth the idea and intention of opening a restaurant in front of the bank or the investor, who are going to show you the green flag for the restaurant.
Investors and banks are people, who need to trust that their money is not going in some black hole; they need to get assured that the objective is clear and they are not being fooled or given false hopes.