Apr 22

Restaurant business owners: 4 simple tips for creating a winning business plan

As a restaurant owner, you have a lot of your plate (pardon the pun). Not only do you have to keep it running day after day, you also have to plan for its future success. And all while maintaining that unique selling position that gives your restaurant its edge in the market.

A business plan is a great to ensure the future of your restuarant

You may think you’ve got it all under control, and know exactly what needs to be done. But the only real way to know if your plan will work, and whether there are any gaps, is to get it all down on paper.

Yep, it’s time to write a business plan.

A business plan is like an architect’s plans for a house. Obviously you’re most interested in the finished product, where everything is completed and you can see how great it looks. But everything you see is supported by the underlying structure. And if that structure has a problem, or hasn’t been constructed correctly, you may find your house collapsing around your ears. 

And if you aren’t following a solid business plan, the same thing could happen to your restaurant business.

A business plan gives you focus.

Getting your ideas down on paper is a great way to spot any potential gaps in your plans for your restaurant. It also forces you to look at all aspects of your business, not just the fun stuff. So make sure you spend enough time to get everything down. Trust me: You’ll thank yourself later.

You’re more than capable of writing your own business plan. And there are certainly plenty of templates available to help you get started. But with so much at stake (after all, you’re determining the future of your restaurant), you may find it a bit overwhelming.

Unfortunately, this stops many restaurant owners from ever completing their business plan, Or it’s finished and then shoved in a filing cabinet, never to be seen again—the worst thing that can happen to a business plan. It’s a living, breathing document you should regularly read, follow, and even amend it when necessary. Builders don’t take one look at the architect’s plans and then never look at them again.

One way to overcome your apprehension is to get help from experts such as the team at MBC. They can:

  • help you stay on track and achieve results
  • stop you wasting time
  • be a sounding board for your ideas
  • offer direction when you get stuck
  • give you peace of mind knowing their experience will ensure you’re on the right track.

We’ve helped dozens of clients with business plans over the years. And we often find these vital areas being overlooked. So when you’re creating your business plan, make sure you:

  1. identify your personal goals first
  2. align your business and personal goals
  3. understand the concept of “why”, because it underpins everything else in your business life and is a key to your success
  4. know who your ideal client is, and market to them directly.

To help you even more we’ve developed a complimentary one page Business Action Plan to use in conjunction with your business plan. It breaks your business plan down into key points, and keeps you focused and accountable. That way you’ll stay on target without getting lost in the details.

If the idea of creating a business plan seems daunting, or you’d like to know more about using our Business Action Plan, get in touch with us. We’ll help you get you plans out of your head and into a plan you can use to develop your restaurant and ensure its success.

Because the only thing we want you to have on you plate is fantastic food.