Tuesday, 9 August 2016

Opening a new restaurant: Write Your Business Plan

Why does one restaurant open with a great deal of display in Dubai and another with very little enthusiasm? Odds of customers finding the business that didn’t have an effective grand opening or will they? Wouldn’t you wish that your grand opening turns out to be fruitful and you have lots of customers visiting your restaurant? This requires a strong and detailed business plan for restaurant for several reasons. Firstly, it is important to convince your bank managers and investors by proving the feasibility of your plans. Secondly, conducting hypothetical scenarios, setting goals and doing research findings are necessary to run the business. Below, few of the key components are outlined to start-up a business plan for how to open a restaurant in Dubai.

Executive Summary: It is important to right down a one-page proposal. The proposal should specify why you are interested in starting a restaurant along with your personal background. It should also include the location you are looking to set it up, theme and style of restaurant you want, kind of food you would like to serve, will you get the license easily and the type of customers you wish to target.

Mission Statement: The business philosophy and values should specify the kind of business you want to be in. Consider what you are looking to achieve out of your customers and local community by thinking what you want to attain, monetarily and otherwise.

Objectives: It is important to timeline the goals in the business plan for a restaurant that you are looking to achieve in short and medium term. Measure your progress by noting down the daily and monthly gross sales, how long does the first course meal take to reach the table and percentage of full capacity of the restaurant.

Ownership Structure, Management And Employees: The ownership stake in the business and the respective interest should be listed. Estimating the number of employees, hiring the decision maker and creating menu design Dubai is necessary.

Start-Up Requirements And Operating Costs: Compile a list of everything that is needed to start-up the business. Be it a list of equipment, compliance costs, building renovations and other supplies. Monthly operating costs should be jotted down, as the start-up costs of revenue will be slow in the beginning.

Marketing Strategy: Targeting the right customers by setting up the restaurant in the most popular location is necessary to give them a taste of the experience they are looking for.

At Ribbon-Me, we exactly know what customers are looking for. When the question of how to open a restaurant in Dubai arises, we can surely help you set up the right business plan for restaurant in the best way.

About Author: 

Author’s Note: Rehan Shaikh loves to write about Business plan for restaurant and why is it necessary to consult them before starting a business.


Post a Comment