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How to Start a New Business Plan – The Entrepreneurship Development
1.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 1Start a New Business Plan – Restaurant INTRODUCTION Starting a restaurant is not easy but not impossible. Competition is intense in many markets. Customer tastes and preferences continually change, forcing restaurants to adapt or lose business. A combination of factors must be in place for a restaurant to be profitable -- excellent food, great service staff and a high traffic location. For startup restaurants, the planning process is critical to setting the venture up for success. http://smallbusiness.chron.com/business-plans-starting-up-restaurant-2370.html 1.1 About Restaurant Plan Planning a restaurant business is an exciting prospect, but it can be physically and financially draining. With every start-up business, risks are going to be taken, but with hard work and dedication any entrepreneur can succeed. The Entrepreneur needs a significant amount of knowledge about the restaurant business to before open a restaurant; careful consideration of location and budgeting is also crucial in being a successful restaurateur. https://bizfluent.com/how-5201763-plan-restaurant-business.html
2.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 2Start a New Business Plan – Restaurant 1.2 Basic Planning Every exceptional restaurant has a great concept, a great chef and a great location. These all work together and help determine the ambiance of the restaurant. The concept is the type of food when’ll serve. Before taking any major decision have to be focusing Basic Planning Follow: Most business plans address the same basic areas; however, there are a variety of ways to organize and format them. The overriding goal is to structure plan in a logical and easily understood manner. Consider that it will be roadmap for development, and prospective financiers — are they institutional lenders or “friends and family” investors — will want to review the business plan as part of their due diligence, before open their checkbooks. Consider the ways that business plan will be used before begin writing. These include the obvious: Acquire investment capital. Get a bank loan. Obtain lease space. And the not so obvious: Convince prospective managers to believe in the concept. Gain respect and confidence from prospective employees. Allow management to concentrate on execution rather than “plan as go.” Create a blueprint for operating of restaurant. If want to achieve objectives, keep the business plan simple, but make it easy for the reader to find the answer to specific questions they may have.
3.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 3Start a New Business Plan – Restaurant 1.3 Business Objectives The primary objectives of the business plan for Restaurant are below: To be the premier home-style restaurant in Prime Location To provide quality meals at reasonable prices with exemplary service Achieve Cover ratios of 1.00X at each lunch and dinner serving To achieve Prime Cost Ratios lower than 65% 1.4 Mission Statement The Mission is to provide a unique and relaxing dining experience – similar to dining at home & will strive to achieve this goal by: 1) by providing menu items incorporating quality ingredients at reasonable prices, and 2) will be mindful of the well being of customers and staff– treating each and everyone with dignity and respect – just like would at own home! 1.5 Guiding Principles 1. Being Mindful of Customers and Staff Coinciding with family values, will treat both customers and staff in a manner in which is ourselves would want to be treated (or better!). 2. Gratitude “An attitude of gratitude” shown to customers, employees and vendors – because without their input, service, labor and time, the business would not be here without them! 3. OurService Provide the warm and friendly service expected from a family-style restaurant creating an informal, comfortable environment which will make the customers satisfied and want to return again and again.
4.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 4Start a New Business Plan – Restaurant 1.6 Keys to Success Repeat business. Every customer who comes in once should want to return, and recommend us. Word–of–mouth marketing is a powerful ally. Hire top notch chefs and offer training to keep the chef on top of his/her game, and pay top wages to ensure they stay with us. Location. Convenience is essential to us; need to be close to market because are not trying to get people to travel to reach us. A variety of menu offerings with a “down home” theme, reasonably priced to establish credibility, but not so high as to limit customers. COMPANY DESCRIPTION The Traditional Home-Style Restaurant will be located Gulshan 1, Dhaka, and Prime Business Location. The restaurant will be wholly owned and operated by Bengal Group. The restaurant will serve a variety of classic home-style favorites from pot roast and mashed potatoes to patty melts and vanilla ice cream. The restaurant will be open 7 days a week(Business Hour) with hours as follows: Monday 11:00 am – 11:00 pm Tuesday 11:00 am – 11:00 pm Wednesday 11:00 am – 11:00 pm Thursday 11:00 am – 10:00 pm Friday 11:00 am – 12:00 am Saturday 11:00 am – 11:00 pm Sunday 12:00 pm – 11:00 pm
5.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 5Start a New Business Plan – Restaurant 2.1 Ownership The restaurant will be owned by Bengal Group of Bangladesh & It Titled Brand “Bengal Blue Chain Restaurant” is quick-service foodservice operation With the high turnover of help for startup restaurants, this will rely on family to fill in where required until off the ground and making a profit. 2.2 Start-Up Summary The cost to open the restaurant is $363,000. The majority of the expenses are in furniture fixtures and equipment totally $110,000. The location requires some build-out and renovation totally $50,000 and will require approximately 30 days to complete. The Wrights will sub- contract the work themselves. $175,000 of the start-up costs will be funded by the owners. The owner’s source of funds is a combination of liquid assets and marketable securities, primarily from their existing catering business. 2.3 Location and Facilities The 3,400 square foot restaurant will be located in a Central Business Hub. The restaurant is located in a major traffic area, at the intersection of busy customar. .http://www.fastbusinessplans.com/sample-business-plans/restaurant-business- plan.html?showall=&start=6
6.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 6Start a New Business Plan – Restaurant SERVICES 3.1 Daily Operations and Production BBCR (Bengal blue chain Restaurant) will be open 7 days a week for lunch and dinner requiring multiple shifts. The schedules will be written in a manner that will allow the ability to increase or decrease hourly labor according to sales volume in order to maintain a consistent labor cost control. Proper labeling and rotation techniques, accompanied by ample storage facilities will ensure that high quality prepared product will be sufficiently available to meet the demands during peak business hours. Replenishment and ongoing preparation will continue during off peak business hours. The Owner will be responsible for ordering, receiving and maintaining sufficient inventory to meet production demands. Ordering schedules will be staggered with perishable products being ordered multiple times per week to preserve freshness. Standard grocery and supply orders will be ordered less often, according to a predetermined schedule and storage capacity.. The restaurant layout, including the dining room, kitchen and serving line, has been designed for efficiency and flexibility to accommodate the fluctuation in customer traffic and peak meal periods. Upon arrival, guests will be greeted immediately by either the assistant manager or a server and asked for the seating preference. The kitchen preparation line has been designed to be operated by a minimum staff of 1 line cook and a maximum of 4 cooks. This design allows line staffing to be adjusted to the business volume. Shift changes for all staff will involve cleanup, restocking and preparation. All monies will be settled at the end of each shift. The closing shift will involve designated closing duties that will leave the restaurant clean and fully prepared for the next day.
7.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 7Start a New Business Plan – Restaurant . 3.2 Suppliers Break down suppliers between types: food, payment, alcohol, cleaning, etc. Note who will be working with and buying from, how staffs are relating to restaurant’s needs, and what their credit terms are. Think of suppliers not just in terms of food and liquor, but also the following: Waste removal Restaurant supplies like dishware and glass Software and tech suppliers such as POS, inventory management, and Internet Paper products Payroll service Cleaning services Plants or landscaping Linen service Entertainment Marketing and advertising These suppliers can provide reasonably priced products, delivered according to the schedule. 3.3 Management Controls The Wrights will practice sound management procedures in order to control costs, insure quality of product and provide friendly customer service. The following systems will be used by management:
8.
© ™Fazlea Allahie
| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 8Start a New Business Plan – Restaurant Order Guide: The restaurant will use an item specific order guide to track order history and maintain designated levels of product in inventory. Weekly Inventory: Management will conduct a weekly inventory to determine valuation for use in the preparation of weekly profit and loss reports. Daily Inventory Tracking: Daily inventory will be taken on specific items. Movement will be compared to sales data to ensure designated products have been properly accounted for. 3.4 Administrative Systems With a limited staff, it is crucial that the Wrights remain current with daily cash outlay. The purchase of a POS system will immensely help them with these daily administrative reports: Daily Cash Control. Sales and receipts recorded by the POS system will be compared to actual cash and credit card deposits on a daily basis. Acceptable over/short amounts will be limited to $5.00 per day. Discrepancies greater than $5.00 will prompt management to conduct an immediate audit to account for the difference. Monthly totals will be compared to actual P&L statements for accuracy. Cash, debit card and credit card receipts will be deposited in a deposit. Weekly Prime Cost Report. weekly report that shows the gross profit margin after cost of goods sold and labor cost has been deducted from the sales revenue. The prime cost for this type of restaurant is expected to range from 60% to 65%. Proper control of the prime cost is the single most effective measure of management’s ability to operate the restaurant. Purchasing Records/Payables. A part time bookkeeper will process and record invoices and credits daily. Reports detailing cash expenditures, payments by check, and accounts payable transactions will be readily available. Check disbursements will be prepared by the bookkeeper. Check signing authority for the general operating account will be given to the general manager. Payroll Processing. Payroll checks will be issued bi-monthly. make necessary adjustments, and prepare for transfer to the payroll system. Payroll will be processed by a payroll processing service.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 9Start a New Business Plan – Restaurant MARKET ANALYSIS The restaurant industry is a large and diverse business: Restaurant-industry sales are forecast is the sector is expected to achieve a growth rate of 7.00% which is higher than previous year (6.83%). 4.1 Industry Analysis Eating and Drinking Places Establishments primarily engaged in the retail sale of prepared food and drinks for on-premise or immediate consumption This industry comprises establishments primarily engaged in providing food services to patrons who order and are served while seated (i.e., waiter/waitress services) and pay after eating. These establishments may provide food services to patrons in combination with selling alcoholic beverages, providing carry out services, or presenting live nontheatrical entertainment. Demographics, consumer tastes, and personal income drive demand. The profitability of individual companies can vary; Large companies have advantages in purchasing, finance, and marketing. Small companies can offer superior food or service. The industry is labor- intensive. (First Research) Wages form a significant proportion of operating costs. The existence of a statutory minimum wage in most states increases the need for players to keep other costs as lean as possible, which in turn increases the importance of suppliers. A slight complication is that in some states, foodservice employers are able to treat tips received by their staff as contributing to their wages; in such states, this policy reduces the impact of the minimum wage from the employers' perspective. (Data Monitor) Annual revenue per worker is less than $50,000. Restaurants compete with companies that serve meals or prepared foods, including grocery stores, warehouse clubs, delis, and convenience stores. In addition, restaurants compete with home cooking.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 10Start a New Business Plan – Restaurant Companies carefully manage inventory of perishable food products, such as fresh seafood and dairy goods, to reduce losses due to spoilage. Computerized information systems can improve and link food preparation and serving operations. Touch screen ordering programs ensure accurate communication of customer orders. Timing systems monitor meal progress and can alert staff if an order is running behind schedule. Reservations programs maximize traffic flow and seating. Inventory management systems track supply levels and can help reduce waste due to spoilage. Cost accounting programs help companies determine the profitability of individual menu items. Handheld point-of-sale (POS) devices allow servers to place orders and print checks tableside, improving accuracy and reducing ordering time. Some handhelds can also print customer checks and process credit card payments. (First Research) 4.1.1 Market Size The Bangladesh restaurant industry includes about 4,800+ restaurants with combined annual revenue of about $1.2 billion. (Approximately) (Dhaka based)* 4.1.2 Industry Participants Major participants include Major companies include Brands (KFC, Pizza Hut,); and Indian Restaurants (Hundy etc). 4.2 Main Competitors The following restaurants are located within a 15minutes far away: Pizza Inn Restaurant - This is a full service family restaurant. Mohammed Foods and Allied Pvt. Ltd. has been awarded the sole franchise to market the famous American Pizza chain store, Pizza Inn products in Bangladesh. In other words Mohammed Foods have become the Master Licensee of the world famous American Pizza chain restaurant Pizza Inn in Bangladesh. The company is confident that with the help of Pizza Inn
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 11Start a New Business Plan – Restaurant expertise it will be able to establish and market and create strong identity of Pizza Inn products in Dhaka and other cities in Bangladesh within a very short span of time. https://www.facebook.com/pg/pizzainnbangladesh/about Pizza Hut BD - Pizza Hut, in Bangladesh, has been trying to make their pizzas more accessible to the customers by both creating value and opening new stores across geographical area. From the beginning of their journey in Bangladesh in 2003, Pizza Hut has opened 8 dine-in restaurants and 8 Pizza Hut outlets from where the valued customers can get their pizzas delivered. From tantalizing appetizers to signature pan pizzas, pastas, risottos and desserts, our menu has something for everyone. Pizza Hut brand experience resonates generosity, friendships, naturalness and fun; making it stand for much more than the Pizza. https://pizzahutbd.com/about-us/ KFC BD – KFC started its journey in Bangladesh on the 6th of September, 2006. Transcom Foods Limited, as the sole franchisee of KFC opened the doors of the first KFC restaurant in Gulshan 1. Today, KFC has grown as a brand, winning people’s hearts and has opened 19 restaurants in 3 cities across Bangladesh. The biggest laurel for KFC Bangladesh is maintaining highest standards of food safety and hygiene regime by following stringent local and international audits. Employing more than 600 people, KFC Bangladesh committed to secure the best quality fried chicken with the best of services. https://kfcbd.com/about-us/ FFC – Fortuna Fried Chicken is a locally owned fast food outlet that is quickly turning into a national chain as it enjoys tremendous growth. Through creative approaches and quality food and service the company has created a name for itself in the local fast food market. http://www.ffcbd.com/
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 12Start a New Business Plan – Restaurant 4.3 Target Market Segment Strategy Choosing the target market is a part of marketing strategy formulation, the other two parts being positioning and marketing mix formulation. Without right targeting, the firm cannot formulate an effective strategy. It is through careful segmentation and targeting that firm pick up right group of consumers. Also, it is through this process that the firm gain vital knowledge about the need and buying behaviour of the consumer in each segment and the differences between one segment and the other. In other words, segmentation and targeting help the firm not only the characteristics of each of the segments but also the ‘distinctive excellence’ that is required for catering to the specific needs of the consumers in each of them. Another strategy whose use is increasing is individual marketing, in which the marketing mix is tailored on an individual consumer basis. While in the past impractical, individual marketing is becoming more viable thanks to advances in technology. 4.3.1 Market Trends According to the National Restaurant Association, the top 10 trends for are: 1. locally sourced meats and seafood, 2. locally grown produce, 3. sustainability as a culinary theme, 4. nutritious kids’ dishes, 5. hyper-local items, (networked locally grown – like a Craigslist for restaurants) 6. children’s nutrition as a culinary theme, 7. sustainable seafood, 8. gluten-free allergy conscious items, 9. back to basics cuisine, and 10. farm brand ingredients.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 13Start a New Business Plan – Restaurant 4.4 Positioning Consumers believe that meals at home are healthier and higher quality than eating at restaurants. Creating position own selves as the premier home-style restaurant by preparing quality home cooked meals with simple wholesome ingredients. Menu selections which will be positioned as the premier traditional home-style restaurant. MARKETING STRATEGY AND IMPLEMENTATION Providing quality home style meals, prepared with quality ingredients at reasonable prices. Customers will enjoy the quaint surroundings inside with the wood tables and checkered table cloths. Restaurant will provide a relaxed atmosphere and when customers walk in they will be greeted by warm smiles and greeted just as arriving home. The chains have tried to create home-style restaurants but where they have failed is in the personal aspect of the business. The POS system known as “The Expediter” used to monitor inventories and time meals has replaced one of the most important aspects of a restaurant – the friendliness of the staff! And in light of this, a handful of chain restaurants are beta testing self-pay tables! This company believes that the restaurant industry is a great place to begin one’s career or pursue full-time. In fact, according to the Restaurant Association, nearly half of all adults have worked in the restaurant industry at some point during their lives, and more than one out of four adults got their first job experience in a restaurant. Also can offer a loyalty club and birthday club which recent reports indicate increases earnings as much as 15%.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 14Start a New Business Plan – Restaurant 5.1 SWOT 5.1.1 Strengths Prime location with easy access from Interstate 30 Exceptional staff with the can do attitude. Combined 25 years in the restaurant industry Because owner has catering industry experience, already has established a customer market and approved vendors Due to small size, believe can provide exceptional quality by hand selecting market specials when compared to larger corporate competitors The same concept holds true in staffing requirements, by hand selecting employees will strive to offer unsurpassed service when compared to larger competitors 5.1.2 Weaknesses Recruiting and retaining quality employees Tight margins will allow little wiggle room for error 5.1.3 Opportunities Little barriers to entry allows for immediate business opportunities Offer additional catering services 5.1.4 Threats Government mandates (restaurant operation, food safety, and worker protection at the federal level and health, sanitation, safety, fire at the local level) Rising operating costs Building/maintaining sales volume Supermarkets and convenience stores Consumers that believe that meals at home are healthier than those prepared in restaurants.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 15Start a New Business Plan – Restaurant 5.2 Strategy Pyramid Strategy: Special Food Discount in Home-Style Food Restaurant in Customer Satisfaction. Tactics: First create awareness-- signage on the front of restaurant will bring customers to brand and once inside, will immediately acknowledge the customer with the warmest and most sincere greeting and begin the service process anticipating repeat customers. Programs: Provide employee training on customer service and retention; offer ongoing training programs for employees keeping them current on industry trends and food safety. Keep track of employee’s progress through performance reviews and offer employees incentives attracting and retailing customers. Employ Mystery Shoppers. Employ the use of surveys both at the table and online. 5.3 Unique Selling Proposition (USP) Offer home-style meals for a reasonable price in a comfortable ‘home-like’ setting. The average check price is expected to be between $8-$15 which appears in line with industry standards below $25.00 (First Research). Because of current expertise with vendors, and excellent credit, can negotiate better credit terms brand new starting a restaurant. 5.4 Competitive Edge It truly believes that business is not only as good as products (meals) but the quality of staff as well. staff is a reflection. Initially, intend to employ family members who will work for lower and reduced wages. The long term goal is to hire team members that are truly hand selected and have the same honest to goodness family values do. And unlike of big chain competitors, because of lean size, can turn on a dime when economically pushed and make changes quickly allowing being proactive. (Whereas corporate competitors have to adhere more closely to their company policies thus impeding their reaction time)
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 16Start a New Business Plan – Restaurant 5.5 Marketing Strategy and Positioning It will utilize a marketing plan to build customer traffic. & will achieve these goals by using the following: Database: begin campaign by marketing to existing database of customers. Also, will email fliers announcing grand opening. Continually update database by providing a fishbowl for business cards in the lobby and offer a weekly or monthly drawing. Loyalty Program/Birthday Program. Offer a birthday/loyalty club proving a complimentary hamburger or chicken sandwich or wrap to the for the birthday person. By this can 15% due to repeat business. Restaurant team will also be active in the local community and plan to take an active role by participating, sponsoring, and donating to local churches, sports clubs or teams in the market area. Also strive to develop rapport with local business as a quick, comfortable lunch choice. In the future, plan on establishing a marketing campaign to call on the local business in the market area, deliver samples, and encourage them to consider restaurant as the restaurant of choice for next business luncheon 5.5.1 Positioning Statement The premier home-style dining restaurant & offer reasonably priced meals, in a warm, relaxed and comfortable setting. Have a wide selection on menu and also have menu options for lighter fare as well as a children’s menu. Open 7 days a week and unlike others chain competitors, servers won’t try to be your best friend our rush you thought your meal. the name says it all “Traditional Home-Style Restaurant - - honest to goodness food served to you by honest to goodness people!”
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 17Start a New Business Plan – Restaurant 5.5.2 Pricing Strategy Cost accounting is important, since the profitability of individual dishes can vary significantly and will initially determine the cost of the menu items. also closely monitor the Prime Cost Report which focuses on the controllable expenses of Cost of Goods Sold and Labor. As a new start-up can currently control employee cost by hiring family members who will work for low and reduced wages. 5.5.3 Promotion and Advertising Strategy Location- The restaurant will be located in a strip center at the busy intersection of the city. With easy access to Interstate 30 (less than ½ mile south) and located on the “going home side” (Western Corner) of the intersection. Word of Mouth –have a database of existing catering customers and will rely heavily on this method to attract and grow new business. Small Business of the Month –leave menu, a fishbowl for business cards and a small ‘homey’ display with the retailer announcing us as new entrants in the local restaurant arena. Direct Mail - Bulk mailing either directly to potential customers or by including a postcard in a value-pack-type mailing. Event Marketing - plan on joining local chamber of commerce and utilizing their networking services for grand opening Website - stay current with industry trends and have a webpage, Facebook page and Twitter site. Menu, map, and hours of operation will be easily accessed. In the future may consider fax or email orders as well a phone application.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 18Start a New Business Plan – Restaurant 5.5.4 Marketing Programs The initial marketing campaign will consist of contacting databases clients and notifying them of grand opening. & will seek the use of a local mailing service program to assist us in the implementation of the campaign. Loyalty and Birthday Club members will notified of upcoming special menu items and to alert them of catering service. 5.6 Sales Strategy Customer service is of the utmost importance. Customer surveys estimate that only 1 in 20 customers that have a problem in a restaurant will tell management about it. It will be goal to provide a wonderful home-style meal combined with superior customer service. Training programs will include teaching materials to train employees about service attitudes, customer perception and how to handle guest complaints. All guest complaints will be acknowledged to management. Programs will be in place for all types of guest complaints. More serious complaints will be documented and kept on file. Customer feedback will be accomplished by customer surveys or the use of mystery shoppers. 5.6.1 Sales Forecast The Company expecting a conservative 5% increases in sales revenues annually over the next 3 years. The growth is adjusted for inflation. With the addition of catering revenues, sales will increase by 12.93% in Year 2 and 6.02% in Year 3. The following table shows expected Sales Forecast for the next 3 years:
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 19Start a New Business Plan – Restaurant Table Annual Sales Forecast Annual Sales Forecast BDT (Convert) Year 01 Year 1 Year 2 Year 3 Sales - - - Food & Beverage Revenues 85,126602.63 $1,028,422 $1,079,843 $1,133.835 Additional Revenues $0 $81,600 $102,000 Total Sales 85,126602.63 $1,028,422 $1,161,443 $1,235,835 Controllable Sales - - - COGS 33,284501.46 $402,113 $414,176 $426,602 Payroll 22,347903.94 $269,987 $323,057 $340,027 Total Prime cost 55,632405.40 $672,100 $737,234 $766,628 Controllable Profit 29,494197.23 $356,322 $424,209 $469,207
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 20Start a New Business Plan – Restaurant ORGANIZATION AND MANAGEMENT 6.1 Organizational Structure The Management expects to hire 19 employees. Together personally select each candidate. They’ve adopted an effective interview process designed to staff the restaurant with highly qualified people for each position. Each applicant will be rated and evaluated according to a pre-defined set of standards designed for each position. Background checks will be utilized for designated positions. Recruiting efforts will always center on referrals. 6.2 Management Team The restaurant will be owned by Bengal Group. In these organizations will be soon position different Key Role. Roles and Responsibilities Chief Executive Officer – CEO (Chief Florist): Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities. Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy. Responsible for fixing prices and signing business deals Responsible for providing direction for the business Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 21Start a New Business Plan – Restaurant Responsible for signing checks and documents on behalf of the company Evaluates the success of the organization Reports to the board Admin and HR Manager Responsible for overseeing the smooth running of HR and administrative tasks for the organization Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products. Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments. Defines job positions for recruitment and managing interviewing process Carries out staff induction for new team members Responsible for training, evaluation and assessment of employees Responsible for arranging travel, meetings and appointments Oversees the smooth running of the daily office activities.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 22Start a New Business Plan – Restaurant Restaurant Manager: Responsible for managing the daily activities in the restaurant (kitchen inclusive) Ensures that the restaurant facility is in tip top shape and conducive enough to welcome customers Interfaces with third – party providers (vendors) Reports to the Chief Executive Officer Attends to Customers complains and enquiries Prepares budget and reports for the organization Handles any other duty as assigned by the CEO Chef / Kitchen Staff In charge of preparing Mexican cum Spanish inspired delicacies and other delicacies pizzas as supervised by the kitchen supervisor Responsible for carrying out all casual or unskilled jobs in the restaurant Responsible for packaging burgers, Mexican, chicken and chips, sandwiches and pizzas meant for delivery Handles any other duty as assigned by the restaurant manager or kitchen supervisor Sales and Marketing Manager Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones Models demographic information and analyze the volumes of transactional data generated by customer purchases Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 23Start a New Business Plan – Restaurant Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects. Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients Develops, executes and evaluates new plans for expanding increase sales Documents all customer contact and information Represents the company in strategic meetings Helps to increase sales and growth for the company Information Technologist Manages the organization website Handles ecommerce aspect of the business Responsible for installing and maintenance of computer software and hardware for the organization Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems Manages the organization’s CCTV Handles any other technological and IT related duties.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 24Start a New Business Plan – Restaurant Accountant / Cashier: Responsible for preparing financial reports, budgets, and financial statements for the organization Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions. Responsible for financial forecasting and risks analysis. Performs cash management, general ledger accounting, and financial reporting Responsible for developing and managing financial systems and policies Responsible for administering payrolls Ensures compliance with taxation legislation Handles all financial transactions for the organization Serves as internal auditor for the organization Waiters / Waitress Promptly attends to customers in a friendly and professional manner Ensures that un-occupied tables are always set and ready for customers Pulls out chairs for customers as they arrive Handles any other duty as assigned by the Chief Operating officer / restaurant manager This Management Theme was added from – https://www.profitableventure.com/mexican-restaurant-business-plan/
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 25Start a New Business Plan – Restaurant 6.3 Management Team Gaps Over time, company have plans to hire a sales director, a general manager, and a kitchen manager.To meet the gaps associated in payroll, inventory management, and cost accounting, the Wrights will purchase have considered a POS (point of sale system) that it simplifies communications between the kitchen and the wait staff. Orders go through the computer, directly to the kitchen printer. Another benefit of a restaurant POS programs is that it can track everything from food usage, to the most popular menu items. Because the POS system acts as a time clock, it can also help prepare payroll – which will save some money in the bookkeeping department. Along with the daily operations of running a restaurant, a POS system can organize profit and loss statement and sales tax. 6.4 Personnel Plan Table 6.4 Personnel Plan Annual Sales Forecast YEAR 01 YEAR 2 YEAR 3 Owner / General Manager $0 $0 $0 Asst. manager/cashier $25,872 $26,648 $27,448 Line Cooks $38,304 $39,453 $40,637 Prep cooks $60,480 $62,294 $64,163 Servers / Cashiers $46,848 $48,253 $49,401 Dish washers $24,024 $24,745 $25,487 Bookkeeper (p/t) $8,640 $8,899 $9,166 Sales Agent $0 $20.000 $20,600 Catering Employees $0 $18,432 $23,731 TOTAL $204,168 $248,725 $260,933
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 26Start a New Business Plan – Restaurant FINANCIAL PLAN The following sections outline financial plan: Required Cost of Start-Up Profit and Loss Cash Flow Balance Sheet Financial Ratios Hourly Labor Costs Weekly Sales Projections 7.1 Important Assumptions Meal Price range from $8.00 - $15.00 Average lunch price: 8.79 Average dinner price: 13.74 The restaurant is located in the Prime Location and is comprised of 3,400 square feet The dining room will be comprised of 20 tables with a seating capacity of 86 seats and 40 available parking spaces to meet the needs of the customers. The restaurant will employ 19 employees $860,000 -1,200,000 revenue target; Industry average for casual restaurant average of $860,000. Annual 3% increase for inflation and 5% annual increase in revenues
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 27Start a New Business Plan – Restaurant Year 2 Assumes Catering Business in Place. Assumes 4 parties monthly @ $15 per plate and $50 persons. Catering will escalate to 8 parties monthly in month 20 and then 10 parties monthly thereafter. Also assumes additional increase in staffing (4 persons to be hired at 6 hours @ $8.00 per hour. 7.2 Start-Up Costs Total start up costs will be $363,000, $174,000 of which will be contributed by the owners and the remainder will be secured through a proposed bank loan. Table 7.2 Start-Up Costs
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 28Start a New Business Plan – Restaurant 7.3 Source and Use of Funds Total start-up costs are estimated to be $363,000. The majority of the costs are associated with the restaurant equipment, inventory and furniture and furnishings for the dining room. Total costs for these items are reported to be $110,500. The costs are associated with build out and renovation of the restaurant to provide updated plumbing and creating additional space in the dining area by removing a non-supporting wall: $50,000. Additional starts up expenses are in the form of working capital and contingency $182,500. Bengal Group will contribute $174, 000 and are requesting an additional $189,000 in the form of a bank loan. The loan is expected to be a fully amortizing 5 year term note secured by Owner filings on all furniture fixtures and equipment. Table 7.3 Source and Use of Funds
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 29Start a New Business Plan – Restaurant 7.4 Break-Even Analysis Total fixed costs associated with the restaurant are $669,186 and represent the annual expenses. The variable cost (overhead) is estimated to be $4.51 per meal. Based on the assumption of $11.37 as the average meal price, the breakeven revenue then is $1,108,970 or 97,535 meals (units). This is further depicted in the Table Below and the Graph that follow: Table 7-4 Break-Even Analysis
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 30Start a New Business Plan – Restaurant 7.5 Projections 7.5.1 Projected Profit and Loss The profit and loss demonstrates modest increases in revenues over the three expected years with adjustments for inflation. Table 7.5.1 Pro Forma Profit and Loss.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 31Start a New Business Plan – Restaurant 7.5.2 Projected Cash Flow The statement of cash flow shows the incoming and outgoing cash of the business. Table 7.5.2 Pro Forma Cash Flow
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 32Start a New Business Plan – Restaurant 7.5.3 Projected Balance Sheet Table 7.5.3 Pro Forma Balance Sheet
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 33Start a New Business Plan – Restaurant 7.6 Business Ratios Table 7.6 Ratio Analysis
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 34Start a New Business Plan – Restaurant 7.7 Hourly Labor Schedule
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 35Start a New Business Plan – Restaurant 7.8 Weekly Sales Projections http://www.fastbusinessplans.com/sample-business-plans/restaurant-business- plan.html?showall=&start=6
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 36Start a New Business Plan – Restaurant MENU PLANNING 8.1 Create a Menu The menu can make or break a restaurant, and should be in accordance with the overall concept of the restaurant. Revisit business plan to make sure the menu is attractive to the target market, is affordable within budget, and complements restaurant's design concept. For example, if a restaurant is family-friendly, customer will need a kids menu. If an upscale establishment, a lot of thought will have to go into wine list. A restaurant menu should be original. Well, kind of. The ideal restaurant menu offers a balance of unique dishes and old favorites. 8.2 Restaurant Menu Tips and Tricks Taking a few simple steps to plan, organize, and design menu can make a world of difference to restaurant’s success. Here are 20 ideas that can help to take restaurant menu to the next level. 1. Organize Menu Logically. Don’t make customers perform a scavenger hunt when just want to eat. Make it easy for them to find what customer want by organizing in a way that makes sense—appetizers first, desserts last, etc. 2. Give Best Dishes The Best Placement. This might seem obvious, but don’t hide star items. Put them front and center where they’re easy to find! Customer’s eyes are most often drawn to the upper right hand corner or the center of the page, so consider placing the biggest sellers in those locations. 3. Be Resourceful. Add a few different toppings or a new sauce and have an entirely different menu item without adding much cost.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 37Start a New Business Plan – Restaurant 4. Create Something Special. Lots of menus feature pizza, sandwiches, or salads, so make stand out. Try tweaking a classic by adding a signature change that fits restaurant’s brand. 5. Keep Language Simple. The Menu Language should be Simple & Short but keep the focus on food, not words. 6. Keep It Manageable. Simply put, one restaurant can’t possibly excel at every dish on a ten page menu. Customers would rather choose from 10 amazing dishes than 100 so-so ones. 7. Update When Need To. Food prices and availability change—so should menu! Feel free to remove something that’s become too costly or to add in a few seasonal vegetables. 8. Choose The Right Visuals. Don’t decorate menu with generic clip-art; this is distracting and doesn’t add much for customers. Food photography is tricky, so might want to consider hiring a professional photographer. 9. Proofread! Don’t just rely on spell-check; be sure to have multiple pairs of eyes look for errors. 10. Keep It Short. Remember, writing a menu, not a novel. Of course want to include relevant information that will make dishes sound delicious, but make sure descriptions don’t get too long.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 38Start a New Business Plan – Restaurant 11. Pay Attention To Color. Does restaurant have a theme? For example, a quiet French bistro would probably choose different colors than a boisterous Mexican place. 12. Watch the Fonts.: Never, ever use a font that’s hard to read! If customers can’t read the menu, they won’t order anything off of it. 13. Don’t Laminate: Once menu is laminated, stuck with it (unless want to do some costly reprints). Probably want to change menu at least once a year, so use plastic covers that make it easy to slide in a new menu. 14. Get Feedback.: Have some customers read over menu and give their honest opinions. Does everything sound good! 15. Restaurant Menu Should Be Versatile: This simply means that no item on the menu should stand alone. If offer a fresh lobster roll, be sure to include lobster in other dishes as well. 16. Use Numbers If Need Them. Customers might be reluctant to order something they can’t pronounce, so consider numbering meals to make it easier on them. 17. Offer A Variety Of Prices. Of course it would be great if every customer ordered most expensive menu item, but have to provide choices for people with smaller budgets. Try including some sandwiches with steaks. 18. Don’t Be Afraid To Change Products Prices. Creating a great restaurant menu doesn’t have to be hard–just keep customers in mind. By creating a menu that’s engaging and easy-to-read while also reflecting restaurant’s brand, put restaurant on the right track! http://www.buzztime.com/business/blog/20-tips-tricks-making-restaurant-menu/
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 39Start a New Business Plan – Restaurant 8.3 Know About Customer Service An integral part of any restaurant is its customer service. Customer service covers many different parts of restaurants day to day operations, going far beyond the front of the house staff. 1. The Customer is Always Right. This is the golden rule of business. Even if think the customer is wrong never, ever, tell them that. Be understanding and empathetic and take the time to listen to their complaint or suggestion. Problems will inevitably arise in even the best of restaurants- it’s how handling them that will determine if customer return or go elsewhere. 2. Good Customer Service Involves the Entire Restaurant Staff. While the front of the house is the face customers see, customer service includes everyone, from the maintenance crew to the cooks in the kitchen. Clean rest rooms, good food, a friendly and inviting atmosphere are all components of good customer service, in which every restaurant employee plays a role. 3. Don’t Overbook Reservations. If restaurant takes reservations, be careful how close together book them. Restaurant reservations, when done correctly, allow to spread out seating’s and keep the kitchen out of the weeds. 4. Understand How Restaurant Tipping Works. A good gauge of customer satisfaction is how well tip at the end of a meal. Some restaurants choose to pool tips; others keep it separate among servers. For large parties or catered events, some gratuity is automatically added. 5. Don’t Skimp on Customer Appreciation.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 40Start a New Business Plan – Restaurant 6. Always Ask for Customer Feedback. Offering a customer comment card at the end of a meal is an opportunity to gain valuable feedback, both positive and negative, about restaurant. 7. Know How to Handle Disruptive Customers. Occasionally may have to deal with a customer who has had too much to drink or is in some other way acting out. Be sure staff know how to effectively and safely deal with disruptive customers. One key strategy is to stop serving alcohol immediately if a person shows signs of intoxication. 8. Teach Restaurant Staff the 10 Common Customers Service. Susan A. Friedmann, has compiled a list of 10 commandments every business should know these commandments can all be adapted to the restaurant industry. 9. Use Social Media to Enhance Customer Service. Social network sites like Facebook and Twitter offer an easy and free way to reach out to customers. Post daily and nightly specials on wall, “like” customers status updates and set up invites to restaurant events. https://www.thebalance.com/restaurant-customer-service- 2888415
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 41Start a New Business Plan – Restaurant OPERATIONS PLAN 9.1 Getting Licenses and Registrations There are many mandatory license to apply for, and others depending on concept- is it a cafe, restaurant or bar. Here are the common ones for Food & Beverage with the appropriate hyperlinks that will lead on the path of getting all the required licenses. Food Shop License to operate a food stall, apply only after you have signed the tenancy agreement and your interior layout plan has been finished. Basic Food Hygiene Course sign up to get certified for all food handlers. Liquor License if intending to sell liquors/beers. There are several classes. Through the Foods Control Division, Agri-Food & Veterinary Authority of Singapore (AVA). Halal License if serving halal customers. Registering for Central Provident Fund (CPF) as an Employer. CPF is a social security savings plan mandatory for all Singapore employers to contribute to as a percent of monthly salary, usually at 16%. *Optional* Registering for 7% Government Service Tax (GST). Mandatory only if any company annual turnover is over S$1 million. https://sethlui.com/start-restaurant-food-business-singapore/#ixzz52XvyQVzO
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 42Start a New Business Plan – Restaurant 9.2 Purchasing Kitchen Equipment First, need to settle the large ticket items like combi-oven, salamander, stoves, freezers and chillers. There are many companies that sell commercial kitchen products. F&B equipment that can consider. Restaurant owners will also need to get restaurant standard utensils, rather than just using the ubiquitous Ikea cutlery. 9.3 Staffing. This section should list the staff positions, the number of people needed for each position and the average rate of pay for the position. List any recruiting plans or services will use to hire staff. Describe the hiring standards and interview process that will be used. This is not intended to be a labor cost projection. That will be addressed in the “financial projections” section of the business plan, to be discussed in a subsequent issue. 9.4 Training. Provide an overview of the training programs that the staff will undergo. Include in-house training and third-party training such as a state-mandated Alcohol Awareness Program servers may have to attend. Be sure to reference employee handbooks, training manuals and training tools. 9.5 Daily operations and production. This section should describe, in summary, the day-to-day operations of the restaurant from opening to close. It should convey to the reader that management has a sound plan for operating the restaurant. Briefly explain operational issues such as scheduling, departmental job functions, ordering and receiving, menu production, service, general safety procedures and maintenance.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 43Start a New Business Plan – Restaurant 9.6 Management controls. Operating a restaurant on a day-to-day basis requires established systems and controls. Many seasoned restaurateurs have established systems to help them control cost and maintain excellence. Unfortunately, though, some startup restaurateurs open doors unprepared to handle the day-to-day challenges of operating a restaurant. Incorporate management controls, tasks and support systems into plan. Some startup restaurateurs are undecided about how might run the restaurant & Should have plans to hire a general manager or chef before making operational decisions. However, it is important that acknowledge in the plan some of the basic controls such as: POS system to track sales. Time and attendance tracking. Scheduling. Operations checklists. Ordering procedures. Inventory control. Cash control procedure. Security measures. Safety policies. Liability reviews. 9.7 Payroll processing. Provide an overview on how payroll checks will be processed. Consider how often checks will be issued such as weekly, biweekly, or semimonthly. Acknowledge your preference of preparing payroll in-house or to have a payroll processing service.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 44Start a New Business Plan – Restaurant CONCLUSION Good management is the key to success and good management starts with setting goals. Set goals for the accomplishment of the many tasks necessary in starting and managing business successfully. Figuring out how to start a restaurant business Restaurant running successfully where the hard work comes in. If plan to start and run a restaurant business successfully need to understand its top Priorities and continually can put in the right amount of effort and dedication to make it a success. The Skill & Expert Employees & Top Advance decision making can change the overall setup of Brand of the Restaurant business. The Entrepreneur needs a significant amount of knowledge about the restaurant business to before open a restaurant; careful consideration of location and budgeting is also crucial in being a successful restaurateur.
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| All Rights Reserved | Bachelor of Arts in Tourism & Hotel Management | Email: fazleaallahie@gmail.com PAGE 45Start a New Business Plan – Restaurant BIBLIOGRAPHY 1. https://www.google.com 2. http://smallbusiness.chron.com/business-plans-starting-up-restaurant-2370.html 3. https://bizfluent.com/how-5201763-plan-restaurant-business.html 4. .http://www.fastbusinessplans.com/sample-business-plans/restaurant-business- plan.html?showall=&start=6 5. https://www.facebook.com/pg/pizzainnbangladesh/about 6. https://pizzahutbd.com/about-us/ 7. https://kfcbd.com/about-us/ 8. http://www.ffcbd.com/ 9. https://www.profitableventure.com/mexican-restaurant-business-plan/ 10. http://www.fastbusinessplans.com/sample-business-plans/restaurant-business- plan.html?showall=&start=6 11. http://www.buzztime.com/business/blog/20-tips-tricks-making-restaurant-menu/ 12. https://www.thebalance.com/restaurant-customer-service-2888415 13. https://sethlui.com/start-restaurant-food-business-singapore/#ixzz52XvyQVzO
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