Restaurant Start-Up Profile

Topics: Types of business entity, Corporation, Business Pages: 102 (16429 words) Published: March 1, 2013
Restaurant Start-Up Profile

This report is a combined effort by the Illinois Institute for Rural Affairs and the Illinois Department of Commerce and
Economic Opportunity. IIRA, through a contract with Katherine J. Henning, compiled the material and conducted the analysis. DCEO printed and distributed the document.

Layout by Nancy Baird, Illinois Institute for Rural Affairs. Published by the Illinois Department of Commerce and Economic Opportunity 620 East Adams
Springfield, IL 62701
In Illinois 800/252-2923 or 217/782-7500
TDD: 217/785-0211
Also available electronically on the Illinois Institute for Rural Affairs’ website (http://www.iira.org) June 1999 (Revised July 2003)

Table of Contents

Section
Page Number
Introduction and Purpose ................................................................................................................. 1 Restaurants Defined ......................................................................................................................... 2 Feasibility Study .............................................................................................................................. 2 Market Opportunity ......................................................................................................................... 3 Market Area of the Community ................................................................................................ 3 Economic Base of Potential Customers .................................................................................... 5 Market Potential of a Specific Site ........................................................................................... 5 Determine the Restaurant “Concept” ........................................................................................ 6 Pro Forma Financial Statement ....................................................................................................... 8 Facility and Equipment .................................................................................................................... 9 Facility Design .......................................................................................................................... 9 Forms of Business Ownership ....................................................................................................... 10 Sole Proprietorship .................................................................................................................. 11 Partnership .............................................................................................................................. 11 Limited Partnership ................................................................................................................. 11 Registered Limited Liability Partnership ................................................................................ 11 Limited Liability Company ..................................................................................................... 11 Corporation ............................................................................................................................. 12 S Corporation .......................................................................................................................... 12 Franchise ................................................................................................................................. 12 Professional Resources .................................................................................................................. 13 Bankers, Accountants, Attorneys ............................................................................................ 13 Business Plan .......................................................................................................................... 13 Leasing...
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