English French German Spain Italian Dutch Russian Portuguese Japanese Korean Arabic Chinese Simplified

Tuesday, June 9, 2009

Make Sure You Have a Good Business Plan in Place Before You Start Your Restaurant

One of the best tools at the disposal of a new restaurant owner is a thoroughly researched, well-written business plan. Some of the things your business plan will look at and take into account include:

- A complete list of the equipment that you will need to operate. This includes both the items that you will have to buy like refrigerators, mixers, pots and pans, cutlery, dishware, table linens, etc. This can also show what assets you already have that you will be using in the restaurant operations.

- A list of personnel that you will likely need to hire in the next two to five years and the salaries that you will be offering for the position. You can also take into account any kind of specialized training you would be sponsoring for your employees and how long it would take to see potential returns on it.

- What kinds of services you are likely to need to keep the restaurant in business. This would include such things as grocery and food suppliers, laundry services for any restaurant linens, garbage removal, building maintenance, repair services for any machinery or appliances onsite, and payroll services. This can also include such professionals as legal counsel and the accountants responsible for preparing governmental and local income and sales taxes as well as making sure all regulations are met in terms of collecting such things as sales taxes due to the appropriate governmental authorities.

- A complete listing of all of the permits and health certificates you will need to have in place before you can begin operations. Some of these include such things as proof of necessary insurances (like property, liability and workers' compensation), health inspections, certificates of safe occupancy, compliance with local fire regulations and liquor licenses if you plan to offer any kind of alcoholic beverages. While many of these are free, you can also list any costs you may have to incur for the inspections or bonds for certain insurances like liability or workers' compensation.

- A listing of what expenses for things like utilities and rental costs you are likely to incur each month. If you are taking over a property, you might be able to get copies of bills from the last tenant/owner to get an idea of what utility bills have been like in past years at the location. These figures can help you better project what portion of your profits will need to be dedicated to these integral areas.

- Lastly a plan that shows what you plan to do to grow your restaurant's clientele and how long you expect that it will take to do it. This is the place where you can explore options like advertising, charitable work and donations and other ways that you can be involved in the community.

The business plan can help you figure out what your start up costs are likely to be and help you track how long it will take to show enough profit to start repaying any loans or investors. For most financial institutions offering startup loans, this is necessary to have in place in order to qualify for financial help, so it's a good idea to have one from the beginning that can be appropriately modified and edited should you need funding at a later date.


Enter Your Email Address For Update :


May be You Want Read This :