Restaurant Business Plans
Research shows that restaurant industry sales are expected to reach a record high of $709.2 billion in 2015, according to the National Restaurant Association. This is the sixth consecutive year of growth in the industry which can boast being the nation’s second-largest private sector employer with a workforce of 14 million.
This is definitely an industry that will never go away, due to the potential for growth and the basic necessity that drives it. But that means it is also a highly competitive atmosphere, especially for new players. Even well established, national chains are always looking for the next innovation to ensure stability and encourage growth.
So how can you set apart your company in such a highly saturated industry?
Thorough Market Research
Having solid research allows you to identify gaps in the market, and position your business for success. This forethought and planning is not only critical for potential investors, but also for the sustained success of your business.
Clearly Defined Value Proposition
New restaurants come and go constantly, especially in highly populated areas. One key reason is because they do not present a clearly defined value proposition. Nothing differentiates these restaurants from the five other Italian restaurants within a mile. You must offer something unique, or else your restaurants will struggle and most likely fail.
Careful planning and strategizing is central to any business, but especially in the competitive restaurant industry. Building a solid foundation for your venture can make, or break, your business. That is where your business plan comes in.
Having a custom crafted restaurant business plan built through a proven process will not only assist you in gaining the funding you need, but also in creating a realistic plan for success.
PlanIt Business is not just a business plan writer, we are your consultants as well as your link to capital. We provide advice and expertise to help your business grow. We also offer our client’s free access to our Business Plan Gallery, which allows our network of investors to search and review completed business plans. This gives your business plan the visibility it needs to help you get funded.
Every business has a story to tell, let us help you tell yours!
Contact us today to get a quote for your restaurant business plan by filling out the form or calling us at 800-894-0828.