To set up a restaurant, bar or cafe, it is not enough to open the blind and start working. To stand out from the competition, getting users to enter your establishment and not your competitors’, you must make a business plan beforehand where you shape your project.
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Analyzing the keys that you must define to ensure the correct approach to your business idea. Thus, increasing your chances of success.
In addition, the business plan of your bar or restaurant will be the key document that will open the doors for you to obtain financing from banks, investors or aid to entrepreneurs.
Without further ado, we begin.
How to Create a Business Plan to Start a Bar, Restaurant or Cafeteria
1. Executive Summary
The executive summary of the plan will be the last thing you write. Since it will contain, as its name suggests, a summary of the document highlighting the key points that will be found in it.
Your goal is to attract the attention of the reader (potential investor) and feel interested in reading the entire plan to discover the opportunities described in this summary.
Therefore, when you write it, you should think about what will be the first thing the bank reads before granting you a loan or the person who is going to invest in your business.
Highlight the strengths of your business model and transform adversities into opportunities by describing how you will work to overcome them.
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2. Presentation of the project
In the presentation of the project you will have to describe your business idea. Explaining the process that led you to want to set up your restaurant and key aspects that will make you succeed in your attempt.
First, start by explaining the origin of your idea. You can describe the motivations that led you to want to start with this business. The most common being the passion for hospitality or its attractiveness from an economic point of view.
Then you can go on to describe the bases that establish your proposal. Briefly describing (later we will develop it in depth) the value proposition that you will offer in your restaurant and the team that will carry it out. Highlighting your career and skills in the areas important to your success (cooking, management, marketing, etc.).
3. Market research
There cannot be a good business plan without proper market research.
The location of the premises where the establishment is located will be key to the success of the project. It is true that it is not something determining in all cases – we all know the typical restaurant away from everything where it is impossible to book – but in most cases it will be the deciding factor.
Similarly, the bar or restaurant facilities will determine the service you provide and the experience your customers enjoy. So this point should be taken into account before choosing the place to know if it will suit your needs.