Your restaurant concept should be woven into every aspect of your business, from the food itself to your style of customer service. 

Your concept should be reflected in the name of your restaurant, the design of your collateral and your decor.

Choosing the concept of your business is the fun part of the restaurant planning process when you get to let your imagination run wild. 

Your concept should include:

• THE TYPE OF RESTAURANT YOU WANT TO OPEN.
• THE STYLE OF CUISINE YOU’LL SERVE.
• THE SERVICE STYLE YOU’LL USE.

The interior of your restaurant should also be in line with your concept.

Your restaurant brand is more specific and can be thought of as the way you choose to communicate your mission and identity to the public. Your restaurant name, logo, menu design, and merchandise should all present a cohesive image of your brand. The advertising channels you use should also rely heavily on your brand identity to influence the style and method

———————————————————————————————————–

*If you have any questions or need assistance creating your CONCEPT and MENU, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

Your BUSINESS PLANS should lay out the foundation of your operations. 

Starting a restaurant, like any new business, requires a solid Business Plan. This road map is the step that may become a stumbling block for those unfamiliar with business plans and how they are written. 

Restaurant Business Plans are divided into sections that describe all the aspects of your new business, from your restaurant concept to your financials. 

If you need assistance with writing your Business Plan, seek the assistance of an experienced and capable consultant or contact RMC Restaurant Management Consultants, and we will assist you immediately.

A good consultant not only will help you writing the Plan but, more importantly, assist you in implementing all aspects of the Plan. 

The purpose of the Plan is to help you flesh out the finer details, and if you need, it summarizes your business to potential investors. When you reach out for restaurant loans, the restaurant business plan serves as proof that your venture will be successful and is the first thing a bank or loan association will request from you.

Below are the principal components of a restaurant business plan:

EXECUTIVE SUMMARY

This is the first section in your business plan, but it’s helpful to write it last and make it a summary of the other sections you’ve already completed.

COMPANY OVERVIEW AND DESCRIPTION

Use this section to write a more detailed company overview than what you’ve included in the Executive Summary.

Describe type of company you want to create, LLC, Inc. etc. Who you are, what you want to achieve and what you Company philosophy and Mission will be.

MANAGEMENT AND OWNERSHIP STRUCTURE

Outline your management and ownership structure. It’s helpful to use charts as a visual aid. It is also essential to use your partner’s or investors’ professional background and education, especially if they will work or participate in managing your restaurant.

CONCEPT AND MENU

Your menu is the centerpiece of your restaurant and should reflect your concept and brand. But it’s also a marketing tool that can help convince new customers to try your restaurant. Your descriptions should be concise but appeal to your audience.

MARKETING PLAN AND COMPETITION ANALYSIS

Before you open a restaurant, it’s important to develop a marketing plan that drives awareness, brings in new customers, and creates a loyal following. This section of your business plan requires careful research. Use the marketing analysis you completed choosing the right marketing strategies. Marketing tactics you might use include everything from social media to hosting a soft opening that drives hype.

In terms of a Competitive Analysis, you’ll need to incorporate an analysis of the demographics and competition for your chosen location. In terms of your competition, you have to know who they are, what they do, their menus’ price structure, their strengths, and their weaknesses

ADVERTISING AND MARKETING STRATEGIES

Use the marketing analysis you completed in the previous step to choose the right marketing strategies.

SOWT ANALYSIS

SOWT Analysis (stands for Strengths, Weaknesses, Opportunities, and Threats) is a technique used to identify strengths, weaknesses, opportunities, and threats for your restaurant.

A SWOT analysis is a powerful tool for helping you identify competitive opportunities for improvement. This way, you can work to improve your team and your restaurant while staying ahead of market trends. 

EMPLOYEES AND STAFFING NEEDS

When operating payroll is the biggest expense, the restaurant will have, and in the planning and creative stages, it’s easy to underestimate the number of staff members you will need. By putting it down on paper on Staffing Guides sheets, you’ll have a more realistic vision of how many employees you need to hire to operate and maintain your business and how much your weekly/monthly payroll will run compared to sales. Here in Florida, I will recommend you do two sets of Staffing Guides, “High Season” December to May and Low Season June to November.

FINANCIAL PROJECTION AND SUMMARY

When it comes to planning for success or obtaining funding for your new restaurant, this section is the most important. Use it to provide a sales forecast, controllable and variable expenses, and break-even analysis.

We recommend you also to write a “Five Year Overlook”, this will be very beneficial as it will give you a long-term financial overview.

———————————————————————————————————–

*If you have any questions or need assistance creating your BUSINESS PLAN, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

To determine how to finance your project, assess your restaurant startup costs by creating a “Startup Budget,” as well as your first year of operation budget. Don’t forget to include in your Startup Budget the costs of licenses, building renovation, equipment, and three to six months operations fund. 

With your restaurant “Start-Up Budget” now in hand, compare the total cost to the amount of capital you have on hand to determine how much funding you will need or how much you need to finance.

To finance your project, you have many options to consider, from taking on a partner/s or investors to apply for a small business loan. 

To give them a better understanding of your predictive cash flow.

Be sure you are armed with a full financial analysis, including the first year of operation budget and calculations of your Break-Even Point.  

SMALL BUSINESS LOAN

While you can get a small business loan directly from a bank, many banks partner with the U.S. Small Business Administration (SBA). You can receive a small business loan even with borderline credit, and the SBA guidelines are set up to protect both the lender and small business owners. Collateral is required, and it may take some time to get approved.

TRADITIONAL COMMERCIAL LOAN  

This type of loan is acquired directly through a bank. You will typically see lower interest rates and access to higher amounts of capital with a traditional commercial loan. However, collateral is required, and you must have a high credit score.

BUSINESS LINE OF CREDIT 

Like a credit card, you can get approved for a maximum credit amount. Interest-only accumulates as you use the money, though credit lending standards are more rigid than regular bank loans, and you may not be able to borrow as much money as you could with other types of loans.

———————————————————————————————————–

*If you have any questions or need assistance creating your RESEARCH FUNDING OPTIONS, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

A restaurant’s location can make or break it. Visibility, competition, and foot traffic are three crucial factors to consider during the selection process for a commercial space. You also want to evaluate the size and interior shape to decide if it’s the best fit for your restaurant floor plan.

———————————————————————————————————–

*If you have any questions or need assistance with SELECT THE RIGHT LOCATION, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

You need to register your business with the IRS to receive your Employer Identification Number, which you need to file taxes. In addition, you have to register with the Florida Department of Revenue to pay and transfer local sales taxes.

You might think about trademarking your restaurant’s name, too (to stop people from copying you and capitalizing on your restaurant’s success).

———————————————————————————————————–

*If you have any questions or need assistance with REGISTER YOUR BUSINESS, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

If you know exactly how you want your restaurant to look like, the ambience and the décor you expect your restaurant to look like you may not need to hire a Restaurant Interior Designer, however if you are not sure how to tide your concept and name with the desired ambience and décor I will recommend you hire a designer who specializes in Restaurant Interior Design.

These designers specialize in restaurant and bar interior designs for new build-out or existing space design renovations. They know how integrate furnishings, materials, lighting, and colors to engage customers and convey your brand identity.

They will deliver thoughtful restaurant/ bar and equipment layout designs that promote service efficiency.  A good designer will take the time to understand your unique vision, budget, and specific space requirements.

They will verify ordering and tracking of all products, and coordinates with contractors to ensure quality with delivery and installation of all furniture, fixtures, and equipment.

———————————————————————————————————–

*If you have any questions or need assistance with HIRE AN INTERIOR DECORATOR, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

LOOK AT RESTAURANT RENOVATION AND CONSTRUCTION EXPERIENCE.-

• PAST PROJECTS: You want a company with tons of successful renovations under its belt. It’s recommended to requesting photographs and portfolio information. Great contractors are proud to show off their past work.
• COMMERCIAL GENERAL CONTRACTOR: Contractors who mainly focus on residential projects are a poor fit for the increased demands of restaurant construction and renovation
• NUMBER OF YEARS IN BUSINESS: Decades of experience successfully managing subcontractors is a great sign.

WHY THIS MATTERS:

There are a lot of areas specific to restaurant renovation, such as the Health Department and building code requirements, equipment accommodation and HVAC considerations. Experienced commercial contractors know what to expect and deliver on work contracts without problems. 

TALK WITH POTENTIAL CONTRACTORS

Request quotes and discuss your project with potential contractors. Reliable restaurant contractors aren’t afraid of follow-up questions or of taking the time to explain each part of an estimate to you.

Here are some important questions to ask: 

• DO YOU HAVE ESTABLISHED SUBCONTRACTORS?
• WHO WILL COORDINATE MY PROJECT?
• CAN YOU ACCOMMODATE LAST-MINUTE CHANGES?
• HAVE YOU DESIGNED “THIS” OR “THAT” FEATURE BEFORE?
• DO YOU HAVE ANY RECOMMENDATIONS FOR THIS PROJECT?

WHY THIS MATTERS:

You want a restaurant contractor that makes life easier and works with you, not one who objects every step of the way. At the same time, a smart advisor who lets you know if certain ideas cost a lot for little potential benefit is very valuable.

COMPARE QUOTES AND GET A CONTRACT

Focus on these areas:

• MATERIALS NEEDED
• COST OF MATERIALS
• ESTIMATED TIMEFRAME
• TOTAL AMOUNT AND COST OF LABOR HOURS

When you request a contract, make sure it has stipulations for work priority, deadlines, materials costs, and restaurant essentials such as equipment installation. It should also outline what will happen in case of unexpected problems or last-minute changes.

———————————————————————————————————–

*If you have any questions or need assistance with HIRE A GENERAL CONTACTOR TO WORK ON RENOVATIONS, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

Restaurant equipment can get pricey, so you want to be strategic when selecting what to buy or lease. List out everything that you need — which depends on your menu — versus what you want, from kitchen equipment to decor for the dining room. You can save money by buying some gently used items. 

———————————————————————————————————–

*If you have any questions or need assistance with ORDER KITCHEN AND BAR EQUIPMENT, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

Aside from the standard business licenses and permits needed to open up a shop, there are other licenses you need to get if you run a restaurant, from a liquor license to food handler’s and Health Department permits that may vary from state to state. Be sure to do your research and create a list of standards you have to adhere to.

———————————————————————————————————–

*If you have any questions or need assistance with SELECT THE RIGHT LOCATION, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797

The food service industry is almost wholly dependent on human capital. Right from the preparation of food to serving it, your restaurant’s employees are your biggest assets. However, restaurant staffing, that is, hiring and retaining talent remains one of the biggest challenges of running a restaurant. 

Owning and running a restaurant is a lot of hard work and you can’t be successful without the right team behind you. Hiring the right staff that has the skills and passion needed for this industry is crucial. Check out our guide: Restaurant Staffing: 8 Tips for Hiring the Right Staff:

1. FIND SUPPORT FOR RESTAURANT RECRUITING.
2. DETERMINE WHICH ROLES YOU NEED TO FILL.
3. IDENTIFY RESPONSIBILITIES AND REQUIREMENTS.
4. DEFINE THE BEST PLACES TO FIND CANDIDATES.
5. SPEED UP THE CANDIDATE SELECTION PROCESS.
6. PROVIDE A REALISTIC JOB PREVIEW.
7. ASK RELEVANT INTERVIEW QUESTIONS.
8. BE READY TO PROVIDE TRAINING.

———————————————————————————————————–

*If you have any questions or need assistance with HIRE THE RIGTH PEOPLE, contact Gus Armijos at garmijos@restaurantmanagementsolutions.org or at his cell 850 730-7797