The success of any business begins with a good and efficient plan and this is true in the case of businesses such as restaurants. Typically, planning a start-up food business for a restaurant should begin with an executive summary, which will provide a summary or overview of the entire business plan. This can act as a model to guide entrepreneurs from the initial stages to the first 3-5 years of operation. This plan will document each and every detail about the operation of the restaurant.
Executive Summary – When asked to a foodservice franchise business consultant, the professional will suggest that the executive summary will identify how much financing will be needed to start operations. It will also specify the financing needed until the food business begins to make a profit. Experts are of the opinion that income projections for the first three to five years should also be present in this summary. This part should also include a description of the proposed restaurant that identifies the unique aspects of the operation.
Concept: The professional foodservice franchise business consultant will also suggest the concept, theme, and type of cuisine to be served in the restaurant and the important components that should be documented in detail in the foodservice startup plan. Here, the location of the restaurant must be identified.
Startup Expenses – In the startup food business planning process, it is important that an adequate plan for anticipated expenses is documented. Generally, there will be start-up costs associated with setting up the restaurant and will, of course, include one-time expenses like the purchase of furniture, commercial kitchen equipment, building alterations, and initial construction. Also, other start-up expenses include theme-compatible glassware, linens, table settings, etc. Apart from these expenses, there will be administrative costs like permission from the health department, business license fee, etc.
Budgets – When it comes to budgeting, the initial setup costs must be identified. Here both fixed and variable expenses should be identified. Fixed expenses include those that are the same each month, such as lease payments. Variable expenses include regular menu items, the cost of which will vary by season.
There are professional consultants who can help people planning to start any type of food-related business, such as a food truck business. They can give the appropriate suggestion for framing a food truck business plan. They are of the opinion that some of the items mentioned above, such as budget and startup expenses, should be included in the food truck business plan process.