In addition, restaurants compete with home cooking. Among FSRs, most establishments focus on Italian cuisine, steak, or seafood. Hamburger joints make up a majority of QSR locations, along with pizza parlors and sub sandwich shops.
In FSRs, waiters take orders, serve beverages and meals, present the check, and process payment. FSRs include casual dining full bar ; family dining limited bar ; and fine dining establishments. An FSR's square footage and the number of seats and tables dictate how many patrons it can serve also known as table turns or covers directly affects sales.
Because the restaurant industry is highly competitive, site selection is critical: companies may consider population density, household income, competition, visibility, accessibility, and traffic. Companies carefully manage inventory of perishable food products, such as fresh seafood and dairy goods, to reduce losses due to spoilage.
Computerized information systems can improve and link food preparation and serving operations. Touch screen ordering programs ensure accurate communication of customer orders. Timing systems monitor meal progress and can alert staff if an order is running behind schedule. Reservations programs maximize traffic flow and seating. Inventory management systems track supply levels and can help reduce waste due to spoilage.
Cost accounting programs help companies determine the profitability of individual menu items. Handheld point-of-sale POS devices allow servers to place orders and print checks tableside, improving accuracy and reducing ordering time. Some handhelds can also print customer checks and process credit card payments. Cracker Barrel — Located along Interstate 30, the restaurant is not located within the target market area. The location selected for THR was chosen primarily to appeal to the growing number of households in the area.
US Census. Business Decision. Info 4. Their home-style menu is very popular with family reunions. More often than not, the couple gets asked to open a restaurant full-time so that patrons can return again and again. Through Constant Contact an online marketing program the couple has stayed in touch with their host and hostesses, and has been asked to return to provide catering services to several repeat events.
Home-Style Catering as also grown by word of mouth. The couple also co-authors a home-style blog - attracting foodies nationwide and globally, swapping recipes, compiling the most sought after home-style comfort recipes, and identifying current trends, for example, providing expanded menus for children and for those with food allergies. The Wrights already have a customer base through their catering business and local blog visitors.
These customers will be the first to be contacted when they announce the grand opening of the brick and mortar restaurant. This will encourage families tired from a day of work to stop in for a home cooked meal they can enjoy — without the cleanup! The average US retail price for diesel and regular gas, which influences discretionary consumer spending on eating out, rose US tourism spending for food services and drinking places, an indicator for restaurant revenues, increased 6.
At THR, we will position ourselves as the premier home-style restaurant by preparing quality home cooked meals with simple wholesome ingredients. Jeff and Betty Wright will also provide home cooked fare that appeals to the current trends of healthier food and offer menu selections which will appeal to this group.
THR will be positioned as the premier traditional home-style restaurant. An extensive wine cellar will be available as well as locally brewed beers. Competition and Market There are three other competitors locally offering a similar experience however these are not directly in the current location.
The current successful business owners are retiring which presents a unique opportunity to develop the business and profitability. Our target market is a mixture of professionals from local businesses, couples and small groups of friends aged between 25 to Revenue Streams There are three main revenue streams for this business as follows: Food menus comprising of appetizers, starters, main courses, and desserts plus a cheese selection.
Beverage sales including champagne, wines, soft drinks, and beer. Private dining area for groups of guests. The premises are available on a year lease with three-year break clauses. Staffing Requirements There'll be six full-time and eight part-time employees to cover all areas of the business. This is a place to splurge on the help of a design professional if necessary.
Be sure to pay particular attention to the composition and structure of your management team. These are the key people that can make or break your success. For example, will you be using consultants or affiliate programs?
Running a restaurant is no easy task. Wishing it came with a manual? Get the restaurant owner's startup kit. Download The Guide 4. Target Customers Who are the people that are going to eat at your restaurant? Do a thorough analysis and include all of the demographic information you can, everything from age and income to their values and what they expect from the restaurants they already frequent. What void are you filling in the market?
On the Water will target both fun-seeking as well as sophisticated diners looking for good food in a fascinating atmosphere. The Market On the Water will be targeting locals and tourists who are active restaurant seekers. In addition to the young adults with money to spend, On the Water will also be targeting adults and tourists known to frequent Sunset Blvd. The general demographics are males and females ages with some or all of a college education. In addition to local Hollywood area people, On the Water will also serve party animals from neighboring cities and tourists.
Historically, if there is a dip in the general economy, the restaurant industry is usually effected far less that the overall economy. The Service and Products One thing that is always consistent with On the Water is their impeccable service.
All server staff hired have extensive experience and all go through three weeks of training, ensuring benchmarked customer service. This provides an authentic surrounding that at times seems to distract everyone as they analyze the wealth of artifacts on display.
It is a culmination of over 20 years of cooking. The menu contains traditional favorites such as hummus, baba ganouj, and tabouli.Highlight what happens you apart. Download What is a potential business plan. Initial—of—mouth marketing is a powerful ally.
The industry consists of full-service restaurants FSR and limited service eating places, which include quick-service restaurants QSR ; cafeterias; buffets; snack bars; and nonalcoholic beverage bars. We want the yuppies, baby boomers, high-end clubbers, tourists with money, wealthy image seekers and compulsive spenders. The residential population in the immediate area is comprised of a mixture of single family and multi-family housing.
Defining the high-end crowd is difficult because most of Sunset Strip goers are such. Ideal for any catering business; preview example. We will pay our employees a competitive salary and believe we can do so by meticulously keeping our records, including daily review of the Prime Cost Report, and utilize Cost Accounting Systems, to prevent inventory shortfalls.
Competition and Market There are three other competitors locally offering a similar experience however these are not directly in the current location. More often than not, the couple gets asked to open a restaurant full-time so that patrons can return again and again. Ordering schedules will be staggered with perishable products being ordered multiple times per week to preserve freshness.
For example, will you be using consultants or affiliate programs? We will also provide our employees with the most current training programs regarding safe food handling, and worker protection. Daily Inventory Tracking: Daily inventory will be taken on specific items. You have to remember that this section has to be kept short and simple.
We will concentrate on the high-end spenders who enjoy new restaurants, eating out, a fun atmosphere, and high-end food and service.
At a micro level, discuss who your direct competitors are. We will be proactive with our employees by scheduling regular performance reviews, and provide bonuses and other incentives to motivate our staff.
We have a full Mediterranean Honey bar for young adults and adults to enjoy drinks and music. Cash, debit card and credit card receipts will be deposited in a deposit. All monies will be settled at the end of each shift. Will it be fine dining or casual? Create descriptions of the managers and employees of your restaurant. Attached is the basic plan I threw together in a day for the bank.
Proper labeling and rotation techniques, accompanied by ample storage facilities will ensure that high quality prepared product will be sufficiently available to meet the demands during peak business hours. Financials Like the design of your sample menu, your financials are another place where you will likely want to solicit the help of a professional accountant. Your sample menu should also include prices that are based on a detailed cost analysis. Lily came from a large family and it quickly became her responsibility to cook for the entire family.
We have a full Mediterranean Honey bar for young adults and adults to enjoy drinks and music. The premises are available on a year lease with three-year break clauses. If you have never written a business plan before, then I would recommend your product. The service section is especially relevant for fine-dining concepts, concepts that have a unique sort of style, or if you have particularly strong feelings regarding what role service will play in your restaurant.
Cash, debit card and credit card receipts will be deposited in a deposit. Although the food offering does not compete directly with the subject, the restaurant targets the same neighborhood families and has been operating at the single location since Overview Summary of this Restaurant Business Plan You can use this executive summary to begin your own plan see the link below to download in Word. Jeff Wright will be responsible for ordering, receiving and maintaining sufficient inventory to meet production demands. Upon arrival, guests will be greeted immediately by either the assistant manager or a server and asked for the seating preference.
We have a full Mediterranean Honey bar for young adults and adults to enjoy drinks and music. In these organizations he held the positions of Assistant Manager and then General Manager. Who is your food going to cater to? Although the location was previously utilized as a restaurant, the former tenant removed the majority of the furniture, fixtures and equipment which will need to be replaced. There has to be a natural and clear connection between the information you present in the target market section of your business plan and your location section. Create the financial portion of your restaurant business plan.