85 – How to create a Restaurant Business Plan II

We discuss products and services.  What is it that you do?  Many restaurants that we speak to who have been running restaurants for 10 years still do not know what it is that they do and what it is that their customers buy from them.

For the numbers for your Restaurant, make sure you have pessimistic numbers in there.  Too much optimism in your P+L spreadsheet makes it very hard to be long term viable.

What is your pricing strategy?

How do you put a restaurant under management?

Innovation – what is your approach to Research and Development.  R + D can be a clear differentiator for your restaurant.  Restaurants are designed for innovation, but too many don’t innovate.

Insurance, the costs and what is covered?

Are you designing your customer for high throughput?  Is your kitchen limiting the number of customers that you can manage?

What is your strategy around supplier choice – this can make a big difference for your story, your margin, and your success.

Fit out costs for your Restaurant.  How can you get a cheap fitout for your restaurant?

How much inventory do you need and how will you fund it.

We look at the Restaurant Marking plan and some of the big mistakes that people make when it comes to the restaurant opening.

Trading hours.  This is a small question but has some huge implications for your Restaurant.  This is not an easy question to answer without a fair amount of thinking and planning.

For more information on this podcast, check out our show notes.

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For Free Tools  to build your Restaurant business, check out our free tools page.  We’ve helped restaurants around the world build the Restaurant that they always wanted with our tools.  Our free booking tool has taken over $25,000,000 in seats booked.

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