OPENING A RESTAURANT: THE MAJOR STEPS OF THE PROJECT

Opening a restaurant requires a rigorous method and a clear organization: training, operating license, business plan, cash flow and legal status are essential issues. It is not easy to open a restaurant or even understand the cost of a cafe design or a bakery fitouts.

THE BUSINESS PLAN: YOUR BEST ASSET TO CONVINCE ALL YOUR PARTNERS

The business plan (or business plan) is a document that concretely defines the contours and challenges of your establishment project. Real support for decision-making, it defines the strategic, commercial and financial objectives of the company. It acts as a real compass for all your employees with regard to your business.

  1. A structured business plan is divided into 5 parts:

A concise and powerful executive summary:
A real introduction, it allows you to understand the main lines of your project in a minimum of time. It must be striking at first glance by presenting your concept, its location, your offer and your strategy in a few words.

2. A market analysis:
Then focus on local market characteristics. The objective is to identify its advantages, disadvantages, threats and opportunities. Within a more limited geographic scope, identify your competitors and the type of customers they are targeting.

3. An analysis of the offer:
β€œIs there really a clientele ready to come and consume in my establishment? is the question this part answers. You must highlight the adequacy between your offer and your target customers according to your geographical location.

4. A presentation of your growth strategy:
In the presence of competitors, you must prove your ability to genuinely attract a certain number of customers. To achieve this, two methods are frequently opposed: charging attractive prices offset by large volumes; or adopt higher tariffs with lower volumes. Do not forget to mention your loyalty program or a future investment, for example.

5. A presentation of your projected financial statements:
This part consists of a forecast balance sheet, a forecast income statement and a forecast cash flow statement. Estimate the cost of all your catering equipment such as a commercial deep fryer or a commercial fridge for sale. It must demonstrate the financial viability of your business project. It also allows you to know your financing needs, the total amount of your expenses, products and your break-even point.