Download Purchase Existing Restaurant Checklist Buying an existing restaurant - one in which you plan on continuing as an ongoing entity - can be a tricky proposition, especially for startup restaurateurs. This 99 point checklist will help guide you through the process of the purchase, starting with the offer and culminating with key checklist items to help you avoid unforeseen pitfalls. Phase I - Valuation The valuation phase lists several key things you should check in order to properly evaluate the fair market value of the selling price - before you make an offer.
Corporate Organizations Our Competitive Advantage From our research and feasibility studies, we were able to discover loads of restaurants with a couple of them serving intercontinental delicacies.
As a matter of fact, most of them have stayed long enough 10 years and above in the business and they have mastered the market. Buy restaurant business plan sole fact that they have stayed this long means that they enjoy robust patronage.
Since we are aware of this obvious detail, we have decided to adopt a unique strategy that will help us gain our own market share, stay afloat in the industry and steadily walk our way to the top of restaurant business in Texas and in the United States of America.
In view of that, we have been able to work out plans that will help us win a large percentage of our targeted market over. It is also important to state that we will continue to change or improve our marketing and sales strategy, until we are able to get a hang of the kind of result we are looking for.
In essence, our sales and marketing strategy just like every one of our business strategies will remain flexible.
In nut a shell, we will explore the following marketing and sales strategies to promote our intercontinental restaurant business: Our various intercontinental delicacies might not come cheap when compared to local meals or everyday meals in the United States of America, but we will try as much as lies within our power to strike a balance between making profits and satisfying our highly esteem customers.
Our strategy for fixing prices will be solely driven by what is obtainable in the industry, alongside sampling the opinions of our targeted market on the amount they will be willing to pay for various intercontinental meals.
Payment Options Our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them.
Here are the payment options that will be available in every of our outlets; Payment by cash Payment via Point of Sale POS Machine Payment via online bank transfer preferably for those that will order our products and would want us to deliver it to them, those that wants to attend our culinary training, as well as for payment for outdoor catering services Payment via check preferably for those that will order our products and would want us to deliver it to them, those that want to attend our culinary training program and for payment for outdoor catering services Payment via Mobile money In view of the above, we have chosen banking platforms that will help us achieve our plans without any itches.
Restaurant Publicity and Advertising Strategy Restaurant business just like any other business in the food industry requires media hype to get people to buy into the brand. We are quite aware of this and we have decided to make provisions for serious promotion of our brand.
All the papers and document has been signed and submitted, the loan has been approved and any moment from the now our account will be credited. As such, we intend spending the first 5 years of the business in building and communicating our brand to our targeted market. We have plans to sell our franchise to interested entrepreneurs who have what it takes to become our ambassadors.
We know that once our brand has been accepted by the general public, it will be easier for us to successfully sell our franchise to interested entrepreneurs who intend leveraging on our brand to start their own business.
In addition, we will ensure that we invest in regular training and development of our work force. We will not stop at exploring various intercontinental meals from all parts of the world. Completed Opening of Corporate Bank Accounts: Completed Opening Mobile Money Accounts: Completed Opening Online Payment Platforms: In Progress Application for business license and permit: Completed Purchase of Insurance for the Business: Completed Renting of Facility and Construction of the Restaurant: In Progress Conducting Feasibility Studies: Completed Generating capital from family members and friends: Completed Applications for Loan: In Progress Writing of Business Plan: In Progress Recruitment of chef and other key employees: In Progress Purchase of the Needed furniture, electronic appliances and kitchen equipment: In progress Purchase of Kitchen Utensils, plates, cups, cutleries, and other accessories:Buy business plan software, or books, or blank templates, if you insist.
Take a course at the local college, university, or SBDC (Small Business Development Center).
If you have more money than time, hire somebody to help you — but make sure he or she just helps you, not develops the plan for you. In today's competitive business environment, a well thought outbusiness plan is more important than ever before.
Not only can itassist you in raising the money needed to start or expand abusiness-by attracting the interest of potential investors-but itcan also help you keep tabs on your progress once the business isup and running.
Every restaurant can benefit from a high-quality business plan. Use our professional business plan templates to improve your restaurant's business plan.
These, and hundreds more sample business plans, are included in LivePlan. Dec 12, · As you plan for the business you purchase, you start by making an important choice: business plans can be either for startup new businesses or for already-existing and ongoing business.
When you buy a business from somebody else, either option is acceptable/5(4). But in fact, buying a restaurant is a nuanced process. To protect your interests, consider enlisting the help of a business broker that knows how and when to ask restaurant sellers the right.
Café Floor Plan Example If you have a premise, or a studio and you want to start your own business, catering might be perfect for you.
You can see a cafe floor plan as an example of possible usages of the free space on the floor.