Executive Summary for a Restaurant Business Plan
Are you interested in writing an executive summary for your restaurant business? The restaurant industry is one which has witnessed and continues to witness growth in the United States. This is more so when innovation is brought to the fore in the provision of exceptional services to customers. The success of any restaurant business depends on having a sound and functional business plan document. The document guides the business along the path of growth and sustainability. It is in the light of this that we will be focusing on the fast food restaurant business plan executive summary.
The restaurant business plan executive summary section is one of the most important sections of the business plan. It summarizes the entire business plan and it is normally the part of the document investors pay close attention to. A well written business plan starts from the executive summary. This exposes if the business is worth investing in or not. In other words, it reveals if the business is viable or not. This article will provide a sample restaurant business plan executive summary.
This sample restaurant business plan executive summary is mainly provided for persons interested in starting a restaurant business, and therefore will need to write a business plan which consists of an executive summary.
The Executive Summary
The Golden Tulips Restaurant is a restaurant which is founded on a culture of excellence. To be located in the bustling central business district of Nevada, the Golden Tulips Restaurant will be offering unique services which include continental as well as local dishes. It will have a bar section as well as a Café for which is aimed at providing variety for clients of all social classes.
In the range of services offered by the Golden Tulips Restaurant, there will be outdoor as well as indoor services. The wide range of our services will be provided in a cosy and well lit environment that exudes a soothing feeling of relaxation. This is coupled with our highly trained chefs and cooks who will handle all our services professionally.
Our financial projections are hinged on all industry indices of growth which have been used at arriving at our current projections. Based on our projections, our estimated start-up funding will require a capitalization of over $500,000. Apart from the start-up capital, there is also an operational cash reserve of $100,000.
To make up the required funding for our business, we will be applying for a debt financing to the tune of $350,000, while the balance of $250,000 has been realized through savings meant for this purpose. The owners of Golden Tulips Restaurant, Mr. Donald Williams and Renee Walker put together the savings of $250,000. The start-up capital will be used in acquiring equipment and furniture for the business.
With current industry trends shaping our financial projections, we have a conducted a research which shows a healthy growth for the business in spite of stiff competition from other restaurant businesses in Nevada. Within the first fiscal year, we have projected a profit growth of $200,000. This is expected to grow considerably over the 3rd fiscal year to over $700,000.
Our objectives for Golden Tulips Restaurant during the first 5 years from the date of commencement of business operations is to build a strong and respectable restaurant brand which will compete favourably with major restaurant businesses within Nevada and beyond. We intend to franchise Golden Tulips Restaurant in its 5th year from the date of commencement of business. This is an expansion strategy we will use to eventually cover every state with the United States.
Golden Tulips Restaurant will continue to train and retrain its workforce to achieve only the best results. Our workforce is central to the exceptional services we will be providing our clients. The work conditions will be world class to encourage productivity among our workforce.
Golden Tulips Restaurant has the mission of being among the 5 top ranking restaurants in the United States during a 10 year period. This audacious growth plan is buoyed by a team of professionals with vast knowledge in this sector of business and who have worked with top restaurant and hotel brands across the world. Their wealth of experience will be drawn upon to achieve this objective.
The welfare of our workforce is central to our business mission, hence, we will put in place an attractive remuneration package which will adequately reward our workforce for their dedication. In addition to this, a bonus system will be incorporated into our remunerative system. This will ensure that any employee who puts in extra effort in the discharge of his/her duty is adequately rewarded. Our clients will form a part of our assessment team by providing feedback on services enjoyed.
Keys to Success
At Golden Tulips Restaurants, our key to success is a well defined and carefully researched marketing strategy which will target a diverse range of potential customers. To achieve this, we will have an effective marketing department which will chart the course of marketing for Golden Tulips. For any meaningful impact to be made, marketing has to form an important part of the business.
An effective cost control measure will be adopted by Golden Tulips to ensure we cut down on unnecessary and unproductive spending and while increasing or channelling resources to areas where they would be visible results. This strategy will also curb wastage which is a major problem for restaurant businesses.
Because we know how intense competition can be in the restaurant industry, we will be establishing a research department which will come up with innovative ways to improve our services and products. Our weaknesses, as well as that of our competition will be improved upon to provide superior services.
This is a sample restaurant business plan executive summary. Using the tips provided in this sample, writing your own unique restaurant business plan executive summary is made much easier and enjoyable. To achieve best results, you may want to brainstorm on the realities faced by your business while comparing same against the ones given here.