WRITING A BUSINESS PLAN

Armed with practical experience, you're ready to put together your business plan --the most critical element of your restaurant. Map out everything on paper before you buy the first spoon or crack the first egg. 

 

When you're writing a business plan you should include: a clear definition of your concept; a description of your market; your menu and pricing; detailed financial information, including data on your startup capital (amount and sources) and your long-term income and expense forecasts; a marketing plan; employee hiring, training and retention programs; and detailed plans that outline how you'll deal with the challenges restaurateurs face every day. Including an exit plan in your strategy is also a good idea.