15 Tips To Start A Thorough Restaurant Business Plan

thorough Restaurant Business Plan
Article contributed by Alsco

A vast majority of restaurant entrepreneurs choke off their business potential even before they start developing it. What’s more, they are often totally unaware of the fact. You wonder how come it happens when they’ve invested all their money and enthusiasm into their business?

The primary reason why such a situation is inevitable is their plunging into the whole new world without a thorough restaurant business plan. Being highly motivated is great, but it’s far from enough to run a respectable restaurant. Those who start without detailed planning are bound to fail sooner or later.

If you happen to be one of them, don’t worry since nothing’s been lost yet. However, you must do something quickly. Don’t know where to start? No need to panic! In order to help you find your way to success, experts have presented the following precious gems for your business revival.

1. Find the Perfect Spot for Your Restaurant

The first factor to keep in mind when opening a restaurant is its location. It can be the crucial element to the success of your business. You should place it where your target visitors are. It’s highly recommended to find a busy street with plenty of parking space or at least easy access to public transport.

2. Invest in Decor and Design

It’s true that decor and design are not more important than the food quality, but it’s not advisable to save on them. As attractive design makes a restaurant experience more memorable for your customers, don’t hesitate to invest in it.

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If you need to improve your restaurant design and decor, always turn to an interior designer that already has a portfolio of hospitality projects. They will help you maximise the use of your floor plan, as well.

3. Don’t Buy Your Equipment Impulsively

Don’t buy all the necessary equipment for your kitchen and the rest of the restaurant just because it’s on discount. You could end up with a heap of pieces you’ll never use. Thus, it would be wise to make sure every single item fits your style before you purchase it. Of course, you need to come up with your original style beforehand in order to fully utilise all your equipment without wasting money.

4. It’s All about the Right Colours

The colours you choose for your walls, plates, table linen, or any other detail within your restaurant should not be neglected. Surprised? Don’t be. Experts have proven that colours are among the key factors for creating a hospitable environment in restaurants. So, think twice before you decide.

5. Get Eye-Catching Tableware

More and more people nowadays are sharing their precious life moments on social media networks. You certainly don’t want to come across a guest’s Instagram or Facebook photo from your restaurant with some unalluring tableware, right? Then, take care of this detail, too, because it speaks for itself. Also, every single item must be spotless!

6. Make Full Use of Your Lighting

Another detail that restaurant owners pay little or no attention to is the appropriate lighting. Nevertheless, its impact on the overall atmosphere is enormous since it brings about setting the desired relaxed mood at your prestigious venue.

7. Come to a Make-Or-Buy Decision

Make an in-depth analysis of your kitchen workload and figure out what you can produce in-house and which items you have to buy from an external supplier. Carefully compare the costs and benefits of each method before you reach your final decision. This should help you reduce the costs and improve the food quality.

8. Negotiate with Your Suppliers

Another possible way of cutting your costs is negotiating with your suppliers. Don’t be shy – there’s nothing to lose here. Moreover, turn to their competitors. Ask for the best deals you can get because your business depends on them!

9. Manage the Food Costs Rationally

You’ve already realised that you cannot succeed unless you keep detailed records, analyse every single business step of yours, and control all the expenses. Whether ordering in bulks or not, beware of some hidden costs and monitor every penny carefully. Eventually, you’ll be able to hit the balance between quality and quantity of the food you order.

10. Be Kitchen Wise

Reviewing your menu on a regular basis will prevent you from over-ordering. In addition, you’ll be able to offer your customers fresh food all the time. If you do this right, forget about the common food waste.

11. Establish Direct Contact with Local Farmers

Find a way to reach your local food producers since they usually have fresh organic products, which are also far more affordable. Coming into direct contact with them means you’ll avoid intermediaries and lower your costs.

12. Always Keep an Eye on Your Inventory

It’s best to track your inventory on a daily basis. That’s how you’ll get a clear picture of what’s selling, which will also profoundly influence your costs.

13. Monitor Your Menu Items Sales

Then, you can adjust the menu according to the previously mentioned results and calculations, to avoid food loss in the future. Not only will these simple steps cut your costs, but they’ll help your chefs plan better-quality meals, which will directly influence your restaurant’s reputation.

14. Cut Down on Discounts

Having a regular retail price has absolutely NO point if you’re constantly offering discounts. By doing so, you’re sending your customers the message your products are not worth their regular price. Is that your goal?

15. Manage Your Work Schedule

Ask your staff members for their hourly reports because it will help you keep supervise them. It should also help you avoid certain employees work overtime all the time, whereas others remain underworked. Maintaining full control over your team work schedule will also prevent you from going over your budget.

You see? Nothing seems impossible when you have the right support and guidance! Now, take a deep breath and get a grip on your business. But, before that, you may want to check out this article from Alsco for 126 extra awe-inspiring strategies for your restaurant business plan.