There’s always new competition, new trends and new local developments that change the landscape you work in.
This is why it’s important to be honest about the potential struggles you might face.
Think of it as “feeding the imagination,” with descriptions helping the customer visualise how their meal will look and taste.
If you can test the menu ahead of time and add that information in the business plan, all the better.
All of these things impact you, so it’s important to explore how you’ll achieve your success in spite or because of them.
Your competitive analysis will look at competitors across the market, especially those close to your location.
“It should be a clear, concise preview of what’s to come, with the flexibility to grow and change,” Tim says.
Executive summaries outline the topics detailed further into the plan.
Include an analysis of your restaurant’s location or potential locations.
“Different locations, even within the same neighborhood, are going to perform differently due to other businesses in the area, the people that live in the area, public transportation and parking.