Restaurant Business Plan – Gastronomy Business Plan
Gastronomy/Restaurant Business Plan: Tips and Advice
A gastronomy/restaurant business plan is essential if the issue of financing the business idea for the planned gastronomy/restaurant business startup is pending.
The two most important points at the beginning: The range of services and the prices are determined entirely by the target group and this must be chiefly considered to come up with a great business plan for a gastronomy business.
Furthermore, the right choice of location, targeted marketing (see also our article on market entry strategy) and the client / guest relationship component of a gastronomy/restaurant business plan, a café business plan, a bar business plan, or a fast food business plan are essential.
Gastronomy/Restaurant Business Plan: Gastronomic Diversity
The saying: “If things get bad, I guess I could always open a Restaurant.” has lost much meaning because of the extensive requirements that have to be fulfilled nowadays for a restaurant to succeed. You must be taught well in many arts and undergo training in entrepreneurial subjects, because there shouldn’t be anything wrong with your business concept. You are a newcomer with your restaurant business plan and want to become self-employed. The lack of business experience can be compensated at least partly through intensive business plan consulting.
The expertise required for a successful gastronomy/restaurant business startup goes beyond culinary knowledge. You must also possess commercial know-how in the purchase of goods and cost calculation, skills in personnel management and a gastronomy background, including knowledge of hygiene standards.
If this knowledge can be specified in your gastronomy/restaurant business plan, this could benefit you and increase the chance of a positive outcome of your financing interview.
Creating a Gastronomy/Restaurant Business Plan for Restaurants, Cafés, Bars, Fast Food etc.
Gastronomy/Restaurant Business Plan Tip 1: A Look at the Gastronomy/Restaurant Service Market
According to official data gastronomy/restaurant establishments for example in Germany generate revenue of around EUR 39.7 billion. Classic restaurant gastronomy/restaurant accounts for 19 billion. 72,000 gastronomy/restaurant businesses generate an average turnover of EUR 165,000. This testifies to strong and stable market competition.
Gastronomy/Restaurant Business Plan Tip 2: Target Group and Offer
What is your target group? Businesspeople, haute cuisine lovers, families or tourists? Are representatives of the target group to be found in the area? This is an important question that must be analyzed and answered. Finally, the demand determines your services and must be reflected in your bar, café or fast food business plan. For example, students want low prices and a big cocktail menu. Businesspeople prefer a certain ambience with good service, but are also less price-sensitive.
What kind of food is served? You need to decide this to facilitate your market positioning. What additional services are you planning to offer? Maybe also a catering or delivery service? How about “specials” to attract new customers and win customer loyalty? All these questions must be answered in the gastronomy/restaurant business plan.
Gastronomy/Restaurant Business Plan Tip 3: The Competition
You need to heed not only legal specifics and requirements, but also look at the competition through a magnifying glass. This includes a location analysis. On one hand, it will let you find out if there is a potential client base at your location of choice. On the other, you’ll learn whether their demand is already being met or not – if not, you have a real chance of penetrating the market.
The issue of casual customers is also important, unless you are offering particularly exotic gastronomies such as molecular gastronomy. If you are offering something like Indonesian cuisine as a unique selling point, your location is not as important. Customers will find you even if your location is not optimal. Other points will then move to the fore, such as marketing through the right channels. The analysis result should be a factor in your location decision.
Décor, location and unique characteristics deserve major recognition in your restaurant business plan. Everything must be set out accordingly and in detail, even things that seem unimportant at first glance.
Gastronomy/Restaurant Business Plan Tip 4: Legal Framework
The legal framework is also part of the restaurant business plan. This includes, for example, the liquor license. Without it you won’t be able to serve alcohol. The labor inspectorate and the health department will check for compliance with the hygiene regulations.
Your restaurant business plan should indicate compliance with regulations. The loan officer must receive assurance that you have the necessary knowledge of the legal framework during the financing interview. The subject of “law” must obtain due recognition right from the start.
Gastronomy/Restaurant Business Plan Tip 5: Price Formation and Marketing in the Gastronomy/restaurant Industry
The target group and its willingness to pay is an important issue in this section. You can command higher prices if clients are attracted by the stellar quality of the dishes prepared by your chef. The reputation you make for yourself is key. Other pricing factors include the site with rent and utilities and seasonal rent for outdoor use if applicable. The type of premises and the services provided are also among the cost factors.
A higher quality of service commands higher personnel costs because highly trained staff almost always receive higher payment than that initially agreed upon. Moreover, the number of clients drops in direct proportion to the number of staff. On the other hand, reliable relief waiters, good semiprofessional service staff and job starters will receive minimum wage.
Marketing deals with attracting customers and guests and this should be central to a cafe business plan, bar business plan or fast food business plan. Functional and effective marketing based on high quality, a good price-performance ratio, a pleasant atmosphere and attentive, courteous service are the alpha and omega of the hospitality industry.
Satisfied guests will be happy to recommend your establishment or might bring friends along the next time they come. In addition, marketing tools such as a website or local search services should not be ignored. If you are trying to launch a startup in the gastronomy/restaurant business, these marketing tools can be of great help prior to the moment that you become part of a network.
The opening stage should involve advertisements in local print media, facilitation through your own network of contacts and social media posts. Inviting the people with whom you have made contact on the way to the gastronomy/restaurant business startup always makes a good impression.
Gastronomy/Restaurant Business Plan Tip 6: Another Three Points to Consider when Creating a Restaurant Business Plan
Gastronomy/Restaurant Business Start-Up Bonus Tip 1: The Food Quality
The food quality should always be a priority. This is why you should choose your kitchen staff and team in general very carefully. It’s even better when the founder is a great cook with experience. Details such as kitchen staff, representation and assistance cooks should be listed in the restaurant business plan.
Gastronomy/Restaurant Business Start-Up Bonus Tip 2: Clear and Unique Selling Points
I want to emphasize the importance of unique selling points again: What are they? What makes your restaurant / bar / café / fast food joint special? The décor, music selection, authentic cuisine or cocktail show evenings? The more pronounced your USP are, the more memorable your brand will be and the more likely your guest will be to recommend you.
Gastronomy/Restaurant Business Start-Up Bonus Tip 3: Focus on the Client Relationship
Man is a creature of habit, so he likes coming back to places where he feels comfortable. You will have to attain this status with a lot of hard work and at a very high cost. You could offer a free aperitif or surprise desert.
Personal contact is key. This means the founder has to be present at all times, familiarize himself or herself with the wishes and preferences of guests and incorporate these in the custom-made service. The restaurant business plan should be focused on strategies to improve contact with clients.
In this article we have outlined the essential information you need in terms of creating a business plan for a restaurant, a cafe business plan, a bar business plan or a fast food business plan. Should you need help writing a business plan, would like us to create a business plan for you (see our article on business plan writing services cost) or would like to see a professional restaurant business plan template, please do not hesitate to contact us.