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Third, compare the customer base for the chosen location with your target market.
Provide a summary the person's experience or qualifications.
You might choose to insert actual résumés in this section or list them in the Appendices section of the business plan.
Identify the preferred market size of residential and business population and the proximity to your restaurant's location.
Establish desirable traffic count thresholds or a preference for a specific industry such as tourism.
And remember, it is not the number of items you have on your menu, but the design, variety and appeal that make an eye-catching menu. A lot of great business concepts have been turned down by investors, both "friends and family" and institutional lenders, because the prospective managers did not seem to possess the experience, skill, education, and/or discipline to make the business work. Controlling costs, managing employees and servicing customers requires experience and talent.
The success of any business relies on sound management. This section of the restaurant business plan is intended to convey the background and experience of the managing partners or owners as well as key management personnel who will operate the business.There has been a dramatic shift in dining habits over the last 20 or so years.The change has been gradual, reflecting the ongoing evolution of the industry.You should consult with your attorney before carrying out management agreements, since they are binding on the organization, and are a frequent source of litigation.Furthermore, you might not want to enter into an employment contract with certain managers, and instead, keep the relationship "at will." (For more information, see "How to Fire Bad Employees & Avoid Potential Legal Problems.") Many restaurant entrepreneurs share an exceptional attribute that enables them to visualize a restaurant concept they fervently believe will have popular appeal to the dining public.In-depth market research is needed to substantiate that conceptual assumptions are in line with market conditions.There are four basic factors to consider in your market analysis.Below are links to each of the key sections of your Bar business plan: I. A well-written and attractively designed menu can help to sell your concept.In the United States, the National Restaurant Association (NRA), has been the premier source for identifying changing trends in consumer habits. Bureau of the Census, the Department of Labor, and The Library of Congress are also good sources when analyzing population growth, ethnicity mix, labor and economic conditions.Each year the NRA publishes, among other things, its annual "Restaurant Industry Forecast" which provides a glimpse of the industry through anticipated sales, customer spending habits, dining traits and operational and industry workforce trends. However, organizations such as the NRA and restaurant-based publications provide more relevant information about our particular industry.