This food restaurant business plan, is a candid disclosure of a business venture to be situated in Nsukka, Enugu State. Our intent is to set realistic business expectations, and eliminate any questions about the profitability of this business venture.
Entrepreneurs have a tendency to paint the restaurant business plan with a very optimistic brush, highlighting strengths and camouflaging the risks. Our intent is to have a definitive business, financial, and marketing plan that not only serves our need for capital financing, but is utilized as our daily business roadmap. We have taken all precautions to validate our business and financial models, focusing on realistic projections. We have accomplished this as follows:
1. Our financial model is rooted in industry facts, not optimism. We have based costs on a vast industry and practical research with similar ventures, validation against National Hospitality Industry cost averages, and analysis against local Nsukka market averages. We have taken a collective look at all figures to make solid business estimates.
2. Our business concept was derived from detailed Market Analyses. Instead of building a business around a preconceived concept, we analyzed the market findings and built a concept around our consumers. In other words, our business is built to service an unmet consumer 'want'.
3. A buffered financial plan that ensures adequate capitalization. A contingency buffer is included in the start-up cost to ensure the business in not under financed, as well as giving the business adequate funding to sustain it in the first six months of start-up. Industry experts confirm a longer ramp-up stage for restaurants over other retail/service businesses. A common mistake for new entrepreneurs, but fully addressed in this business plan.
4. A solid Risk Mitigation Plan. We have evaluated traditional and non-traditional risks associated with Restaurant... [continues]
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(2010, 12). Restaurant Business Plan. StudyMode.com. Retrieved 12, 2010, from http://www.studymode.com/essays/Restaurant-Business-Plan-535128.html
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