Planning Kamran on 04 Oct 2007 09:35 pm
Planning for a Winning Restaurant
Opening a restaurant is not easy. Not only you need to have the right location, right chef, the right menu, the right decoration and extensive PR and marketing, but also the right pre-planning.
And financing is an important part of the work that goes into putting a successful restaurant operation together.
Unless you have deep pockets or have friends and relatives with deep pockets, the chances are very high that you’ll go to a bank or a financial institution to secure the financing. That in itself requires more preparation than putting your menu together or finding the right chef and the personnel.
Mario Churchill, a free-lance author who has written extensively about the restaurant business, provided the following partial list of documents that you need to prepare and submit to the bank before you can get any financing:
“Executive Summary; Company Description; Location; Organization; Business Concept; Concept Statement; Capitalization; Sample Menu; Layouts and Design; Management Partner/Owner; Management Team; Kitchen Manager; General Manager; Management Agreements; Confidentiality Agreements; Market Analysis; Industry Assessment; Competitive Analysis; Target Market; Location Analysis; Marketing Strategy; Customer Database; Frequent Diner; Mail Campaign; Email Campaign; Charity/Community Involvement; Public Relations; Marketing Resources; Business Relationships; Operations; Advertising; Training; Staffing; Daily Operations & Production; Customer Service; Suppliers; Administrative Systems; Management Controls…”
Do you still want to go ahead with your plans for that cozy little piece of the American Dream on the corner with clean table cloths and delicious dishes? Just make sure you do your homework properly.
Click here to read Churchill’s blog article.