The first thing to consider when writing a simple restaurant business plan is what kind of restaurant you are going to open. As someone brand new to restaurants, it is strongly recommended by us, and most other restaurant experts, that you consider either purchasing a franchise or buying an existing restaurant operation that is for sale.
I know this may not be exactly what you want to hear and you can of course do it any way you want but there are lots of reasons to at least consider this option before rejecting it.
There are several reasons for this, including lower capital requirement, with a better chance of funding, lower risk, higher chance of success, and in the case of an existing restaurant, you get immediate cash flow, and often a fully trained staff and loyal customers.
Clearly, many people who dream of owning a restaurant don’t dream of owning someone else’s place, or a McDonald’s, but the chances of being successful, and the best way to learn how to operate a profitable and successful restaurant is to do it in one that has a lot of the details worked out already and which is already proven to be successful.
This is a great way to learn the ropes, what works and what doesn’t and get a lot of experience under your belt while still making a nice pile of money. Then, when you can fund yourself and have a lot better idea of how to make it work, you can go out and start the restaurant or start a bar like you’ve really been wanting from the beginning.
