Examples

Restaurant Strategic Plan

strategic plan example for restaurant

Delicious. Decadent. Sumptuous. Those are the words you want to hear when you open your own restaurant . But what makes a good restaurant stand out? And how do you plan to distinguish yourself from your competitors? It’s easier said than done, but creating a restaurant strategic plan will help you answer those questions.

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To aid you in creating a restaurant strategic plan, here are some examples in PDF format to guide you.

Restaurant Strategic Marketing Plan Example

Restaurant Strategic Marketing Plan Template1

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  • Apple Pages

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Outline for Restaurant Strategic Plan Example

Outline for Restaurant Strategic Plan Example

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Budget Plan for Restaurant Example

Budget Plan for Restaurant Example

Size: 57 KB

Restaurant Business Plan Template Example

Restaurant Business Plan Template Example

Size: 87 KB

Intro for Restaurant Strategic Plan Example

Intro for Restaurant Strategic Plan Example

Size: 91 KB

Why Start a Restaurant Business?

Among the businesses you are planning to establish, why should it be a restaurant? There are a numerous reasons why. Let’s start with the most obvious reason: it is profitable. Entrepreneurs wanting to invest their hard-earned money always look at restaurants as a primary option for investment. This is because there is just money when it comes to starting a restaurant. People love to eat and try out new dishes every now then. And food is basically a necessity for survival no food and everyone would simply die.

Another reason why you should own a  restaurant business is the prestige and connection it brings. Even if you only franchise or set up a fast-food chain, it can already bring wonders to you business portfolio. This is because starting a restaurant is not easy, and maintaining it requires large and continuous capital investment.

Starting your own restaurant can also result to numerous business connections. As long as your dishes are delicious, your restaurant will attract numerous customers, specifically professionals and other entrepreneurs. They will keep coming back and that reason alone will be very beneficial for your restaurant business . And if you are lucky enough, they will be offering business partnerships with your restaurant (i.e., capital investment, supplying different raw materials and goods, etc.).

If you love to cook, then there’s another reason for you to start your own restaurant. Turn your hobby into a money-making opportunity, and you will enjoy cooking even more. Most restaurants almost always begin with the business owner’s interest in cooking, either serving some delicious dishes in family events or grilling some pork and chicken meat in outdoor parties with friends. You don’t need to establish a 5-star restaurant at the beginning, as you can always start small and serve the dishes you know you can cook to a smaller number of customers.

Essential Components of a Strategic Plan

Here are the essential components of a strategic plan that you should follow when you will be creating your own restaurant strategic plan. There are components but the ones listed below are the most basic ones that you should never omit.

A strategic plan always begins with a vision statement . The vision statement is a long-term goal that you want to achieve for your strategic plan. Take note that a vision statement should not be changed often, and the strategic plan should revolve around that long-term goal you want to achieve.

If the vision is focused on the future, the mission is focused on the present. The mission statement is an outline on how you want to achieve your vision. The mission statement, otherwise known as the objectives, is a vital component in accomplishing the mission and lays out the details on how the strategic plan will be accomplished.

Strategic tools

There are numerous strategic methods you can apply in your strategic plan. Among them are SWOT analysis , PESTLE analysis, Porter’s five forces, balanced scorecard, and growth share matrix. All the mentioned tools are very useful when making a restaurant strategic plan, since SWOT and PESTLE analysis center in on the internal and external environment, Porter’s five forces analyzes competitor behavior, and growth share matrix and balanced scorecard focus on profitability.

Action Plan

The action plan is basically the actions you will implement for your strategic plan. The action plan is a result of the analysis you created from the strategic tools you used.

Pizza Restaurant Strategic Plan Example

Pizza Restaurant Strategic Plan Example

Size: 90 KB

Editable Restaurant Strategic Plan Example

Editable Restaurant Strategic Plan Example

Size: 100 KB

Free Restaurant Strategic Plan Example

Free Restaurant Strategic Plan Example

Size: 95 KB

Restaurant Food Ideas for 2018

Restaurants also follow trends, unfortunately. Although the types of dishes remain, the way they are being served change from time to time. If you are planning to open a restaurant this year or early next year, here are some restaurant food ideas you should consider:

The buffet is a restaurant concept that never goes out of style. Even for the individuals who don’t eat a lot, the sight of 20–30 dishes on display in front of their eyes is more than enough to entice them to take at least a few bites. Starting a buffet is quite expensive, since you have to cook so many dishes at large proportions. There is a high chance of spoilage and it would result to high inventory costs for your restaurant.

To avoid that dilemma, make sure to serve delicious food that customers will want to consume until they can’t consume any longer. Also, serve dishes that have a single theme (for example Japanese cuisine, American diner food, Mediterranean cuisine, etc.) so that flavors will not contradict with each other. Pancakes certainly don’t match with sushi nor lasagna being paired with spicy Korean noodles.

Also, try to place a reasonable price tag on your buffet although the price will depend on the market you are selling. If your target market is high-income customers, you can always price your dishes higher. But make sure to avoid overpricing as you might not able to recover from your costs.

Self-cook and self-service

Self-cook and self-service restaurants have been gaining popularity the past few years. These are restaurants that an electric stove is placed at the center of the table and you just get all your ingredients from another table. There is a large variety of food being served in self-cook restaurants. This can range from any kind of dishes from different types of cuisine.

Self-cook restaurants are similar to buffet restaurant in terms of costs and the quantity of ingredients that are prepared. Fresh ingredients need to be prepared and served every day, and there is also a chance where spoilage cannot be avoided due to the number of ingredients being prepared. Similar to a buffet, one method to combat this dilemma is to have a variety of dishes and also do an estimate on the number of customers you expect per day. This ensures that if there is any spoilage, it won’t be very costly for your restaurant.

Themed or concept restaurants

Themed or concept restaurants have also become very popular these days. These are basically restaurants that have a specific theme or serve a specific type of food. An example of a themed restaurant includes an American fast-food diner serving American favorite dishes which includes pancakes, bacon, fried eggs, sausages, milkshakes, and ice cream sundaes. Another example of a themed restaurant is a restaurant having numerous memorabilia and an interior design that resembles that from a science fiction movie (for example Star Wars and Star Trek).

Themed restaurants are high-risk investments as they only attract a very specific market base. If you plan on setting up a themed restaurant, make sure to attract another customer base as this can be very beneficial for your revenue stream. Also, aim for popular themes in your restaurant as it can gain interest from other market segments. Among the popular themes or concepts you can use are science fiction or fantasy movie concepts, bookstore concepts, animal/pets concepts, indoor garden concepts, sports bar concepts, automobile display concepts, etc.

Online restaurant

Thanks to technology, you don’t even need to set up a physical restaurant. You just need to create a website or social media page , list down all the dishes you want to sell, then your’e all set. You just need to pay the necessary taxes and process all the business permits, and the government will consider your business a legal organization.

Online restaurants are much cheaper to maintain compared to buffets or self-cook restaurants, as you don’t need high overhead costs for you to run your daily operations. You don’t need to pay monthly rental fees as you will be only cooking from home and you don’t have to pay for employee salaries as you won’t be hiring any cooks or chefs to assist you. You can just hire one or two assistants who have a keen eye for delicious food, and one of those assistants can act as your delivery person when orders are made online.

The great thing about online restaurants is you can start small. You don’t need a huge lump of capital just to buy ingredients and pay for the salaries of of your employees. When you are already settled and managed to gather a large customer base, it is then when you establish a physical restaurant.

Speed Grill Restaurant Strategic Plan Example

Speed Grill Restaurant Strategic Plan Example

Size: 115 KB

Restaurant Business Plan Format Example

Restaurant Business Plan Format Example

Tips in Starting a Restaurant Example

Tips in Starting a Restaurant Example

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We hope you found this article to be informative as well as helpful when you will be formulating your own restaurant strategic plan. Creating a strategic plan is not difficult. All you need to do is make the right analysis and incorporate the correct details.

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Aaron Allen » Insights » How to Plan with Purpose

restaurant strategic planning

How to Plan with Purpose

Many restaurant executive teams are still planning with post-it notes and ballpoint pens while their competitors are harnessing theories, tools, and techniques that sound like science fiction — big data, machine learning, artificial intelligence, behavioral economics, neuromarketing — to create strategy and allocate budgets.

For far too long, planning has consisted of dusting off last year’s templates and marking up financial projections by 3%. Always doing what’s always been done — which means always getting what’s always been got — is increasingly dangerous.

Today, market share gains most commonly come from stealing from someone else, and last year’s playbook is already archived in competitors’ best practices documents. A third of organizations are moving so slowly that they can’t seize new opportunities or mitigate emerging threats.

Most companies recognize that the old approaches to planning are insufficient and need to catch up with the pace of change in technology and consumer dining behavior.

Don’t get left behind this strategic planning season. Here are five tips for purposeful planning:

1. Develop Rolling 36-Month Plans

No one can see 10 years into the future. If we go back only five years, most people wouldn’t have been able to comprehend how fast the industry has changed. Moreover, most restaurant strategic planning processes have not kept up with the changes. Operations are often state of the art for 2009, not for the 2020s.

While it’s not possible to predict the future, executive teams can increase the probability of success by understanding and watching the variables that may impact it. Though the pace of change has increased exponentially — and will continue to accelerate — companies who approach long-term planning with the belief that they have too much to worry about right now to look ahead will soon wake up with the realization that things have  changed faster outside the business than inside .

We advocate a rolling 36-month plan. Short-term planning can create a tremendous amount of volatility, and recent political conversations have proposed doing away with  quarterly reporting  for publicly traded companies in an effort to increase stability. Incentivizing leaders with solely short-term targets might force executives to ignore longer-term opportunities for the business.

Of course, there are current-year initiatives that optimize performance by  reducing cost , improving efficiency, enhancing the guest experience, and  building morale and buy-in , but these should not be the sole focus of management teams.

The gains successful companies are getting now come from decisions made years — not months — back.  Domino’s Pizza  stands out in particular. Patrick Doyle launched the transformation plan in 2010, and stock prices are continuing to grow. Starbucks, Panera, and McDonald’s each provide compelling cases as well.

The gap between the haves and have-nots can be traced to investments in systems, technologies, and planning informed by a robust understanding of the factors that will influence the future of foodservice, from mobile and automated technology to consumer preferences and new labor models.

2. Ask Better Questions to Get Better Answers

Many of the best practices of corporate strategy and annual planning hold true. Frameworks including PESTLE, SWOT, and Five Forces analysis as well as consumer trend research and understanding evolving dining behaviors still have a place in these discussions.

Many new ideas, from fully automated restaurants to dark kitchens serviced by mobile ordering apps, at first seem like the self-indulgent drivel of a corporate strategist. But these are real developments, and their impacts on our global industry can already be anticipated and, to some degree, forecasted. What may get eye rolls today will most likely make bankrolls tomorrow.

Though the kinds of questions posed by traditional frameworks remain useful and important, strategic planning should also include discussions around the forces reshaping the industry, such as:

  • Should we make any changes to our portfolio (through acquisition, creation, or divesting)?
  • What new innovations fit best with our unique value proposition?
  • Are we making it as easy and frictionless for our customers to buy from us as possible?
  • How will the push for off-premise dining affect our business model?
  • How can we use technology to better connect with and service our guests?
  • How can we integrate blockchain and the Internet of Things into our supply chain?
  • How can developments in packaging make our organization more sustainable and environmentally friendly?
  • What are rivals — long-standing ones in our market and segment as well as start-ups and competition from other sectors — doing to try to claim our market share?

The leaders of tomorrow have answers to these questions and are willing to make investments in projects that sound fantastical today. They recognize that the entirety of the foodservice industry is going to change and have already started not just keeping up with these developments but creating their own innovations that will push the industry further.

Crisp, Clear, Global Restaurant Research

3. Collaborate and Co-Author

A visionary CEO needs support from every stakeholder and shareholder in the organization, and that begins with the board. More than half of executives credit the success of their strategic initiatives to buy-in and support from other senior leaders. 

Unfortunately, it can be incredibly difficult to effectively communicate the urgency and opportunity presented by these kinds of investments, and such breakdowns in communication can become incredibly frustrating — and damaging. Ron Shaich experienced just this complication while bringing  Panera 2.0  to life. Reading between the lines, it seems likely that he took the company private to avoid scrutiny from shareholders who preferred short-term performance to forward-looking investments.

Ultimately, Panera 2.0 saved customers a decade’s worth of waiting time. Even with case studies like these, Shaich still faced skepticism, and we see this dynamic play out in boardrooms all over the world. While companies recognize that shrinking sales and share mean they need to do something, short-term pressure and scoffing suspicions thwart potential innovations.

panera 2.0 restaurant strategic planning

Eliminating cognitive biases — the desire to continue on the same path a company has tread for years — is facilitated by management teams presenting a comprehensive and compelling view of where the industry is headed. Gone are the days of Excel spreadsheets with inputs on cost of goods sold, commodity prices, and incremental sales gains are sufficient. They’ve been replaced with more sophisticated scenario modeling, real-time data collection to track historic and present performance and predictive analytics that forecasts into the future.

With these tools, the board and executive leadership can make more informed, long-term capital allocations that can be reviewed frequently and farther out than the traditional annual budgeting process allows.

Restaurant Strategy

4. Resensitize to Innovation

Much of bleeding-edge technology is so advanced that it can move from off the radar to the center of our lives at a pulse-quickening pace. Both mainstream media and trade publications are covering these developments, which sometimes counterintuitively diminishes their impact. Because we see so many headlines about artificial intelligence, big data, and automation, it’s easy to feel confident we know in everything there is to know about them.

Almost everyone would say that  robotics  and automation will become essential to maintaining performance in the QSR sector in terms of the unit economic model. The challenge is identifying those technologies that can be integrated into the existing business to enhance quality and the guest experience. This demands a thorough understanding of new technology to match the knowledge of current operations, and such a nuanced view requires a willingness to learn, experiment, and — most importantly — be moved by all the potential these innovations offer.

[W]e are looking to build a moat around the business… [T]he better the technology relationships we have with our customers, the more modernized our restaurants become, the harder it will be for people to compete with us. Steve Easterbrook, Former McDonald's CEO

strategic plan example for restaurant

Crew-level employees need to be learning new skills before they can be replaced by faster, cheaper, and more accurate robots. The kiosk will certainly replace the cashier, but a parallel can be drawn to the restaurant CEO who fails to learn new skills and keep up with the evolving industry.

Where it may have been a disqualifier before, paranoia may become a more sought-after trait among CEOs. And it’s most certainly the case for corporate strategists whose job it is to anticipate and help the company prepare to size, seize, and capitalize on that opportunity.

5. Improve Internal Communication

Any successful plan requires buy-in, and there’s a tremendous opportunity for companies to improve communication both among leaders and throughout the organization. Very few organizations would dispute the importance of communication, but most have cracks in their pipelines — 95% of a typical workforce doesn’t understand its organization’s strategy.

This begins with high-level discussions, where involving employees from all levels and functional areas could surface new approaches. Part of corporate planning should be dedicated to shooting for goals that are impossible by asking, “if it were possible, how would we do it?” When big ideas are presented this way, people begin to scrap steps and systems altogether and design entirely new ways of attacking the problem that allow for quantum leaps in productivity and performance.

Enrolling others in the discussion and decision-making process doesn’t do the whole job: there has to be communication both along the way and after. This is one of the biggest cracks that strategic plans fall through on their way to implementation — a dark crevasse where communication doesn’t happen. Only 42% of managers and 27% of employees get access to the strategic plan, which means that only a minority of an organization knows where the company is headed.

Avoid Death by a Thousand Paper Cuts

With a complete understanding of markets and how things are changing on a global, regional, and local basis, the ability to size, seize, and capitalize on new and emerging opportunities can help catapult a company over the competition faster than either organization knew possible.

Either we disrupt, or we get disrupted. John Chambers, Cisco Executive Chairman and Former CEO

strategic plan example for restaurant

In fact, that’s part of what’s happening between direct competitors within the industry, as new entrants with emerging technologies (delivery aggregators, dark kitchens, food halls, meal delivery services, and so on) are stealing share in a way that may seem insignificant at first, like a papercut. One stings, but when enough cuts combine, it’s like losing a bucket of blood.

The global foodservice industry is a $3.3t industry, and it’s expected to grow at a relatively predictable pace (with population, inflation, and consumer discretionary spend). But, over the next three to five years, hundreds of billions of dollars of spend within the industry are going to shift to new categories and segments. This means that many of the existing companies are already restaurant zombies — dead, but they don’t know it yet.

The leaders who recognize, anticipate, and plan ahead of this new industrial revolution will not only avoid the fate of dying by a thousand cuts, but they also have the opportunity to contribute to and direct these innovations. It’s undeniable that the foodservice landscape will look radically different in even five years. But who will shape it?

About Aaron Allen & Associates

Aaron Allen & Associates works with global foodservice leaders to find, size, and seize opportunities to drive growth, optimize performance, and maximize enterprise value. Our approach to strategic restaurant planning enables our clients to understand and capitalize on the future of foodservice, as well as anticipate and act against the rapid evolution of disruptive technologies, evolving consumer dining behaviors, and increased competitive dynamics.

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We are focused exclusively on the global foodservice and hospitality industry. You can think of us as a research company, think tank, innovation lab, management consultancy, or strategy firm. Our clients count on us to deliver on our promises of meaningful value, actionable insights, and tangible results. 

Founded and led by third-generation restaurateur, Aaron Allen, our team is comprised of experts with backgrounds in operations, marketing, finance, and business functions essential in a multi-unit operating environment.

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We bring practical, relevant experience ranging from the dish room to the boardroom and apply a holistic, integrated approach to strategic issues related to growth and expansion, performance optimization, and enterprise value enhancement.

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Working primarily with multi-brand, multinational organizations, our firm has helped clients on 6 continents, in 100 countries, collectively posting more than $200b in revenue, across 2,000+ engagements. 

We help executive teams bridge the gap between what’s happening inside and outside the business so they can find, size, and seize the greatest opportunities for their organizations.

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How to write a restaurant business plan

strategic plan example for restaurant

A small restaurant business plan is the roadmap you use to open a successful spot. As a first step to creating yours, ask your friends and colleagues to share restaurant business plan examples. Their restaurant business plan samples can inspire yours.

Once you’ve studied those examples, it’s time to start writing your own. No matter how much thought you’ve put into your concept or how many trusted colleagues have assured you of its greatness, you must write a restaurant business plan. It will prove the viability of your concept to potential investors and provide them with a clear and engaging answer to the question: “Why does the world need this restaurant?”

“The point of a business plan is to show that you’ve done your homework,” says Charles Bililies, owner of Souvla , a fine casual Greek restaurant in San Francisco that has received national acclaim since opening in the spring of 2014.

“You have to show any potential investor that you have an actual plan, you know what you’re talking about, it looks professional, and you’re not just screwing around.”

Quick links Branded cover Table of contents Concept Sample menu Service Management team Design Target market Location Market overview Marketing and publicity Specialists and consultants Business structure Financials

1. Branded cover

Include your logo (even if it’s not finalized), the date, and your name.

2. Table of contents

A table of contents in a restaurant business plan provides an organized overview of the document’s structure and content. It typically appears at the beginning of the plan and lists the major sections and subsections with their corresponding page numbers.

The table of contents is important for several reasons. Firstly, it allows readers to quickly navigate through the plan, enabling easy access to specific sections of interest. Secondly, it helps in presenting a professional and well-structured document, showing that you have carefully organized your thoughts and ideas. It also improves readability and comprehension, as readers can easily locate and refer back to relevant information

Image depicts a restaurant worker in a new restaurant.

3. Restaurant concept

Describe your restaurant concept and get the reader excited about your idea. Specify whether the restaurant will be fine dining or more casual. Include an executive summary and go into detail about the food you’ll be serving, inspiration behind your concept, and an overview of service style.

Define clearly what will be unique about your restaurant and include your mission statement. This section should include a market analysis that shows how your restaurant will be similar and different from competing restaurants.

4. Sample menu

The menu is the most important touchpoint of any restaurant’s brand, so this should be more than just a simple list of items. Incorporate your logo and mock up a formatted menu design (tap a designer for help if needed).

Your sample menu should also include prices that are based on a detailed cost analysis. This will:

  • Give investors a clear understanding of your targeted price point
  • Provide the info needed to estimate check averages
  • Show the numbers used create financial projections for starting costs
  • Show investors that you’ve done the homework
  • Prove you can stay within a budget

This section is most relevant for:

  • Fine-dining concepts
  • Concepts that have a unique service style
  • Owners who have particularly strong feelings about what role service will play in their restaurant.

It can be a powerful way of conveying your approach to hospitality to investors by explaining the details of the guest’s service experience.

Will your restaurant have counter service and restaurant hostess software designed to get guests on their way as quickly as possible, or will it look more like a theater, with captains putting plates in front of guests simultaneously?

If an extensive wine program is an integral part of what you’re doing, will you have a sommelier? If you don’t feel that service is a noteworthy component of your operation, address it briefly in the concept section.

Image depicts two restaurant workers discussing finances.

6. Management team

Write a brief overview of yourself and the team you have established so far. You want to show that your experience has provided you with the necessary skills to run a successful restaurant and act as a restaurant business owner.

Ideally, once you have described the strong suit of every member of your team, you’ll be presenting a full pitch deck. Most independent restaurant investors are in this for more than just money, so giving some indication of what you value and who you are outside of work may also be helpful.

Incorporate some visuals. Create a mood board that shows images related to the design and feeling of your restaurant.

Whether you’re planning to cook in a wood-burning oven or are designing an eclectic front-of-house, be sure to include those ideas. Photos of materials and snippets of other restaurants that you love that are similar to the brand you’re building are also helpful.

8. Target market

Who is going to eat at your restaurant? What do they do for a living, how old are they, and what’s their average income? Once you’ve described them in detail, reiterate why your specific concept will appeal to them.

Image depicts two restaurant workers having a discussion.

9. Location

There should be a natural and very clear connection between the information you present in the “Target Market” section and this one. You probably won’t have a specific site identified at this point in the process, but you should talk about viable neighborhoods.

Don’t assume that potential investors will be familiar with the areas you’re discussing and who works or lives there—make the connections clear. You want readers to be confident that your restaurant’s “ideal” diner intersects with the neighborhood(s) you’re proposing as often as possible.

If you don’t have a site , this is a good place to discuss what you’re looking for in terms of square footage, foot traffic, parking, freeway accessibility, outdoor seating , and other important details.

10. Market overview

Address the micro and macro market conditions in your area and how they relate to licenses and permits. At a macro level, what are the local and regional economic conditions?

If restaurants are doing poorly, explain why yours won’t; if restaurants are doing well, explain how you’ll be able to compete in an already booming restaurant climate. At a micro level, discuss who your direct competitors are. Talk about what types of restaurants share your target market and how you’ll differentiate yourself.

11. Marketing and publicity

The restaurant landscape is only getting more competitive. Discuss your pre- and post-opening marketing plans to show investors how you plan to gain traction leading up to opening day, as well as how you’ll keep the momentum going.

If you’re going to retain a PR/marketing company, introduce them and explain why you’ve chosen them over other companies (including some of their best-known clients helps). If not, convey that you have a solid plan in place to generate attention on your own through social media, your website , and media connections.

Image depicts two restaurant workers having a discussion over a tablet.

12. Specialists and consultants

List any outside contractors you plan to retain, such as:

  • General contractor
  • PR and marketing

Briefly explain the services they’ll be providing for you, why you chose them, and any notable accomplishments.

13. Business structure

This section should be short and sweet. What type of business structure have you set up and why did you make that specific decision? You will need to work with an attorney to help you determine what business structure is best for you.

“Step one: write a business plan. Step two: hire a good attorney. In addition to helping me build a smart, sustainable business structure, my attorney was also a great resource for reviewing my business plan because she’s read thousands of them. She was a very helpful, experienced outside perspective for more than just legal matters,” says Charles Bililies.

14. Financial projections

Let your accountant guide you through this portion of your business plan. It is crucial that whoever you hire to help you with your finances has a wealth of restaurant experience (not just one or two places). They should be familiar with the financial specifics of starting a restaurant and know what questions to ask you.

Before creating realistic financial projections, your accountant will want to know:

  • How many seats the restaurant will have
  • What your average check will be
  • How many covers per day you plan to do

Being conservative in these estimations is key. These three data points will be used as the basis for figuring out whether your concept is financially feasible.

Lou Guerrero, Principal at Kross, Baumgarten, Kniss & Guerrero, emphasizes, “You’ll get a lot of accountants that tell you that they’ve done a couple of restaurants, but you have to choose someone that has a deep expertise in what you’re doing. There’s nothing to gain from going with someone that doesn’t have a very restaurant-centric practice.”

A well-vetted accountant with restaurant experience will know exactly what you’ll need to have prepared to show investors.

The key projections you can expect to work on are:

  • Pro forma profit and loss statement for the first three to five years of operation
  • Break even analysis
  • Capital requirements budget

Writing a comprehensive restaurant business plan is a crucial step towards opening a successful establishment. By seeking inspiration from examples, demonstrating your expertise, and addressing all the essential components, you can prove the viability of your concept to potential investors.

Remember, a well-prepared business plan demonstrates professionalism and a clear understanding of your goals, increasing your chances of achieving long-term success in the competitive restaurant industry.

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Restaurant Owners Strategic Plan Template

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Running a restaurant is no easy feat. To navigate the ever-evolving culinary landscape, you need a solid strategic plan that sets you up for success. That's where ClickUp's Restaurant Owners Strategic Plan Template comes in!

This template helps restaurant owners:

  • Define long-term goals and objectives for their business
  • Outline effective strategies to achieve those goals
  • Streamline decision-making processes and resource allocation
  • Evaluate progress and make data-driven adjustments for sustained growth

Whether you're opening a new restaurant or looking to revamp your existing one, ClickUp's strategic plan template will guide you every step of the way. Get started today and watch your restaurant thrive!

Benefits of Restaurant Owners Strategic Plan Template

When restaurant owners use the Strategic Plan template, they can benefit from:

  • Clear vision and direction for their restaurant, ensuring alignment with their long-term goals
  • Improved decision-making processes, based on a well-defined strategy and objectives
  • Effective allocation of resources, optimizing budget and manpower
  • Measurable progress tracking, allowing owners to evaluate the success of their strategies
  • Enhanced communication and collaboration among team members, fostering a cohesive and focused work environment

Main Elements of Restaurant Owners Strategic Plan Template

ClickUp's Restaurant Owners Strategic Plan template provides you with the tools you need to effectively plan and execute your restaurant's strategic initiatives.

Here are the main elements of this template:

  • Custom Statuses: Track the progress of your strategic initiatives with statuses such as Cancelled, Complete, In Progress, On Hold, and To Do.
  • Custom Fields: Utilize 8 different custom fields including Duration Days, Impact, Progress, Ease of Implementation, Team Members, Department, and Project Lead to capture essential information related to your strategic plan.
  • Custom Views: Access 6 different views such as Progress, Gantt, Workload, Timeline, Initiatives, and Getting Started Guide to get a comprehensive overview of your strategic plan and manage tasks efficiently.
  • Project Management: Leverage ClickUp's project management features including task dependencies, time tracking, and collaboration tools to streamline your strategic planning process and achieve your restaurant's goals.

How to Use Strategic Plan for Restaurant Owners

Running a successful restaurant requires careful planning and strategic thinking. The Restaurant Owners Strategic Plan Template in ClickUp can help you map out your goals and strategies. Follow these steps to make the most of this template and set your restaurant up for success:

1. Define your vision and mission

Start by clarifying your restaurant's vision and mission. What do you want to achieve with your establishment? What values and principles will guide your operations? Clearly articulating your vision and mission will provide a solid foundation for your strategic plan.

Use a Doc in ClickUp to brainstorm and refine your vision and mission statements.

2. Set SMART goals

SMART goals are specific, measurable, attainable, relevant, and time-bound. They provide clear targets for your restaurant's growth and success. Identify key areas such as revenue, customer satisfaction, employee training, and marketing, and set specific goals for each.

Use Goals in ClickUp to set SMART goals and track your progress towards achieving them.

3. Analyze your competition and market

To stay ahead in the restaurant industry, it's crucial to understand your competition and market trends. Conduct a thorough analysis of your competitors, their offerings, and their target audience. Additionally, research current market trends and consumer preferences to identify opportunities for innovation and differentiation.

Use the Gantt chart in ClickUp to plan and visualize your competitor and market analysis.

4. Develop strategies and action plans

Based on your goals, competition analysis, and market research, develop strategies and action plans for each area of your restaurant's operations. These may include marketing campaigns, menu updates, staff training programs, customer loyalty initiatives, and more. Ensure that each action plan is aligned with your goals and supports your overall strategic plan.

Use Board view in ClickUp to create and organize tasks for each strategy and action plan.

5. Assign responsibilities and deadlines

To ensure the successful execution of your strategic plan, assign responsibilities to team members and set deadlines for each task. Clearly communicate expectations and provide the necessary resources and support to help your team achieve their objectives. Regularly review progress and provide feedback to keep everyone on track.

Use Automations in ClickUp to automate task assignments and reminders, ensuring that responsibilities and deadlines are properly managed.

6. Monitor and adapt

A strategic plan is not set in stone. Continuously monitor your progress and evaluate the effectiveness of your strategies. Collect and analyze data on key performance indicators such as revenue, customer satisfaction, and employee productivity. Use this information to make data-driven decisions and adapt your plan as needed to stay ahead of the competition and meet your goals.

Use Dashboards in ClickUp to track and visualize your key performance indicators and make informed strategic decisions.

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Get Started with ClickUp’s Restaurant Owners Strategic Plan Template

Restaurant owners can use the Restaurant Owners Strategic Plan Template to streamline their strategic planning process and track progress towards their long-term goals.

First, hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to strategically plan for your restaurant's success:

  • Use the Progress View to track the overall progress of your strategic plan and ensure alignment with your goals
  • The Gantt View will help you visualize and manage the timeline of each strategic initiative
  • Use the Workload View to distribute tasks and responsibilities among team members and ensure balanced workloads
  • The Timeline View will provide a chronological overview of all strategic initiatives and their respective milestones
  • Use the Initiatives View to track the progress and status of each individual strategic initiative
  • The Getting Started Guide View will provide you with step-by-step instructions and best practices for using the template effectively
  • Organize tasks into five different statuses: Cancelled, Complete, In Progress, On Hold, To Do, to keep track of progress
  • Update statuses as you progress through tasks to keep stakeholders informed of progress
  • Monitor and analyze tasks to ensure maximum productivity and successful execution of your strategic plan.

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How to Write a Restaurant Business Plan

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Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

When starting a business—no matter what type of business that may be—a business plan is essential to map out your intentions and direction. That’s the same for a restaurant business plan, which will help you figure out where you fit in the landscape, how you’re going to differ from other establishments around you, how you’ll market your business, and even what you’re going to serve. A business plan for your restaurant can also help you later if you choose to apply for a business loan .

While opening a restaurant isn’t as risky as you’ve likely heard, you still want to ensure that you’re putting thought and research into your business venture to set it up for success. And that’s where a restaurant business plan comes in.

We’ll go through how to create a business plan for a restaurant and a few reasons why it’s so important. After you review the categories and the restaurant business plan examples, you can use the categories to make a restaurant business plan template and start your journey.

strategic plan example for restaurant

Why you shouldn’t skip a restaurant business plan

First-time restaurateurs and industry veterans alike all need to create a business plan when opening a new restaurant . That’s because, even if you deeply understand your business and its nuances (say, seasonal menu planning or how to order correct quantities), a restaurant is more than its operations. There’s marketing, financing, the competitive landscape, and more—and each of these things is unique to each door you open.

That’s why it’s so crucial to understand how to create a business plan for a restaurant. All of these things and more will be addressed in the document—which should run about 20 or 30 pages—so you’ll not only have a go-to-market strategy, but you’ll also likely figure out some things about your business that you haven’t even thought of yet.

Additionally, if you’re planning to apply for business funding down the line, some loans—including the highly desirable SBA loan —actually require you to submit your business plan to gain approval. In other words: Don’t skip this step!

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

How to write a restaurant business plan: Step by step

There’s no absolute format for a restaurant business plan that you can’t stray from—some of these sections might be more important than others, for example, or you might find that there’s a logical order that makes more sense than the one in the restaurant business plan example below. However, this business plan outline will serve as a good foundation, and you can use it as a restaurant business plan template for when you write your own.

Executive summary

Your executive summary is one to two pages that kick off your business plan and explain your vision. Even though this might seem like an introduction that no one will read, that isn’t the case. In fact, some investors only ask for the executive summary. So, you’ll want to spend a lot of time perfecting it.

Your restaurant business plan executive summary should include information on:

Mission statement: Your goals and objectives

General company information: Include your founding date, team roles (i.e. executive chef, sous chefs, sommeliers), and locations

Category and offerings: What category your restaurant fits into, what you’re planning to serve (i.e. farm-to-table or Korean), and why

Context for success: Any past success you’ve had, or any current financial data that’ll support that you are on the path to success

Financial requests: If you’re searching for investment or financing, include your plans and goals here and any financing you’ve raised or borrowed thus far

Future plans: Your vision for where you’re going in the next year, three years, and five years

When you’re done with your executive summary, you should feel like you’ve provided a bird’s eye view of your entire business plan. In fact, even though this section is first, you will likely write it last so you can take the highlights from each of the subsequent sections.

And once you’re done, read it on its own: Does it give a comprehensive, high-level overview of your restaurant, its current state, and your vision for the future? Remember, this may be the only part of your business plan potential investors or partners will read, so it should be able to stand on its own and be interesting enough to make them want to read the rest of your plan.

Company overview

This is where you’ll dive into the specifics of your company, detailing the kind of restaurant you’re looking to create, who’s helping you do it, and how you’re prepared to accomplish it.

Your restaurant business plan company overview should include:

Purpose: The type of restaurant you’re opening (fine dining, fast-casual, pop-up, etc.), type of food you’re serving, goals you have, and the niche you hope to fill in the market

Area: Information on the area in which you’re opening

Customers: Whom you’re hoping to target, their demographic information

Legal structure: Your business entity (i.e. LLC, LLP, etc.) and how many owners you have

Similar to your executive summary, you won’t be going into major detail here as the sections below will get into the nitty-gritty. You’ll want to look at this as an extended tear sheet that gives someone a good grip on your restaurant or concept, where it fits into the market, and why you’re starting it.

Team and management

Barely anything is as important for a restaurant as the team that runs it. You’ll want to create a section dedicated to the members of your staff—even the ones that aren’t yet hired. This will provide a sense of who is taking care of what, and how you need to structure and build out the team to get your restaurant operating at full steam.

Your restaurant business plan team and management section should have:

Management overview: Who is running the restaurant, what their experience and qualifications are, and what duties they’ll be responsible for

Staff: Other employees you’ve brought on and their bios, as well as other spots you anticipate needing to hire for

Ownership percentage: Which individuals own what percentage of the restaurant, or if you are an employee-owned establishment

Be sure to update this section with more information as your business changes and you continue to share this business plan—especially because who is on your team will change both your business and the way people look at it.

Sample menu

You’ll also want to include a sample menu in your restaurant business plan so readers have a sense of what they can expect from your operations, as well as what your diners can expect from you when they sit down. This will also force you to consider exactly what you want to serve your diners and how your menu will stand out from similar restaurants in the area. Although a sample menu is in some ways self-explanatory, consider the following:

Service : If your brunch is as important as your dinner, provide both menus; you also might want to consider including both a-la-carte and prix fixe menus if you plan to offer them.

Beverage/wine service: If you’ll have an emphasis on specialty beverages or wine, a separate drinks list could be important.

Seasonality: If you’re a highly seasonal restaurant, you might want to consider providing menus for multiple seasons to demonstrate how your dishes (and subsequent purchasing) will change.

Market analysis

This is where you’ll begin to dive deeper. Although you’ve likely mentioned your market and the whitespace you hope to address, the market analysis section will enable you to prove your hypotheses.

Your restaurant business plan market analysis should include:

Industry information: Include a description of the restaurant industry, its size, growth trends, and other trends regarding things such as tastes, trends, demographics, structures, etc.

Target market: Zoom in on the area and neighborhood in which you’re opening your restaurant as well as the type of cuisine you’re serving.

Target market characteristics: Describe your customers and their needs, how/if their needs are currently being served, other important pieces about your specific location and customers.

Target market size and growth: Include a data-driven section on the size of your market, trends in its growth, how your target market fits into the industry as a whole, projected growth of your market, etc.

Market share potential: Share how much potential there is in the market, how much your presence will change the market, and how much your specific restaurant or restaurant locations can own of the open market; also touch on any barriers to growth or entry you might see.

Market pricing: Explain how you’ll be pricing your menu and where you’ll fall relative to your competitors or other restaurants in the market.

Competitive research: Include research on your closest competitors, how they are both succeeding and failing, how customers view them, etc.

If this section seems like it might be long, it should—it’s going to outline one of the most important parts of your strategy, and should feel comprehensive. Lack of demand is the number one reason why new businesses fail, so the goal of this section should be to prove that there is demand for your restaurant and show how you’ll capitalize on it.

Additionally, if market research isn’t your forte, don’t be shy to reach out to market research experts to help you compile the data, or at least read deeply on how to conduct effective research.

Marketing and sales

Your marketing and sales section should feel like a logical extension of your market analysis section, since all of the decisions you’ll make in this section should follow the data of the prior section.

The marketing and sales sections of your restaurant business plan should include:

Positioning: How you’ll describe your restaurant to potential customers, the brand identity and visuals you’ll use to do it, and how you’ll stand out in the market based on the brand you’re building

Promotion: The tools, tactics, and platforms you’ll use to market your business

Sales: How you’ll convert on certain items, and who/how you will facilitate any additional revenue streams (i.e. catering)

It’s likely that you’ll only have concepts for some of these elements, especially if you’re not yet open. Still, get to paper all of the ideas you have, and you can (and should) always update them later as your restaurant business becomes more fully formed.

Business operations

The business operations section should get to the heart of how you plan to run your business. It will highlight both internal factors as well as external forces that will dictate how you run the ship.

The business operations section should include:

Management team: Your management structure and hierarchy, and who is responsible for what

Hours: Your hours and days of operation

Location: What’s special about your location that will get people through the door

Relationships: Any advantageous relationships you have with fellow restaurateurs, places for sourcing and buying, business organizations, or consultants on your team

Add here anything you think could be helpful for illustrating how you’re going to do business and what will affect it.

Here, you’ll detail the current state of your business finances and project where you hope to be in a year, three years, and five years. You’ll want to detail what you’ve spent, what you will spend, where you’ll get the money, costs you might incur, and returns you’ll hope to see—including when you can expect to break even and turn a profit.

Financial statements: If you’ve been in business for any amount of time, include existing financial statements (i.e. profit and loss, balance sheet, cash flow, etc.)

Budget: Your current budget or a general startup budget

Projections: Include revenue, cash flow, projected profit and loss, and other costs

Debt: Include liabilities if the business has any outstanding debt or loans

Funding request: If you’re requesting a loan or an investment, lay out how much capital you’re looking for, your company’s valuation (if applicable), and the purpose of the funding

Above all, as you’re putting your financials together, be realistic—even conservative. You want to give any potential investors a realistic picture of your business.

Feel like there are other important components but they don't quite fit in any of the other categories (or make them run too long)? That’s what the restaurant business plan appendix section is for. And although in, say, a book, an appendix can feel like an afterthought, don’t ignore it—this is another opportunity for you to include crucial information that can give anyone reading your plan some context. You may include additional data, graphs, marketing collateral (like logo mockups), and more.

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The bottom line

Whether you’re writing a restaurant business plan for investors, lenders, or simply for yourself and your team, the most important thing to do is make sure your document is comprehensive. A good business plan for a restaurant will take time—and maybe a little sweat—to complete fully and correctly.

One other crucial thing to remember: a business plan is not a document set in stone. You should often look to it to make sure you’re keeping your vision and mission on track, but you should also feel prepared to update its components as you learn more about your business and individual restaurant.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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Restaurant Business Plan Template

Written by Dave Lavinsky

Restaurant Business Plan

You’ve come to the right place to create your restaurant business plan.

We have helped over 100,000 entrepreneurs and business owners with how to write a restaurant business plan to help them start or grow their restaurants.

Below is a restaurant business plan template to help you create each section of your business plan.

Restaurant Business Plan Example

Executive summary, business overview.

Bluehorn Restaurant & Steakhouse is a new restaurant and steakhouse located in Oklahoma City, Oklahoma. The menu of Bluehorn Restaurant & Steakhouse will include bistro-type dishes that are authentically created and crafted by acclaimed Chef Peter Logan. It will be located in the trendy part of town, known as the Plaza District. The restaurant will be surrounded by classy art galleries, live theater, high-end restaurants and bars, and expensive shopping.

Owned by emerging restaurant operators Chef Peter Logan and Anastasia Gillette, Bluehorn Restaurant & Steakhouse’s mission is to become Oklahoma City’s best, new restaurant for patrons to celebrate their next big event, have a nice date night, or gather with friends or family for a fun evening while dining over finely crafted entrees, desserts, and cocktails.

Products Served

The following are the menu items to be offered by Bluehorn Restaurant & Steakhouse:

  • Soups & Salads
  • Gourmet sides
  • Wine, Beer & Spirits

Customer Focus

Bluehorn Restaurant & Steakhouse will target adult men and women between the ages of 21 – 65 with disposable income in Oklahoma City, Oklahoma. Within this demographic are millennials, young professionals, newlyweds, young families, more established families, and retirees. Because of the pricing structure of the menu, the patrons will likely be upper middle class to the wealthy population of Oklahoma City.

Management Team

Bluehorn Restaurant & Steakhouse is owned and operated by fellow Oklahoma City natives and culinary enthusiasts, Chef Peter Logan and Anastasia Gillette. Both come with a unique skill set and complement each other perfectly. They formerly worked together at another OKC fine dining establishment and made a great team for serving guests delectable food and wine while ensuring the highest level of customer service.

Chef Peter will manage the kitchen operations of Bluehorn Restaurant & Steakhouse, while Anastasia will oversee front of the house operations, maintain and ensure customer service, and manage all reservations.

Financial Highlights

Bluehorn Restaurant & Steakhouse is seeking $300,000 in debt financing to open its start-up restaurant. The funding will be dedicated for the build-out and design of the restaurant, kitchen, bar and lounge, as well as cooking supplies and equipment, working capital, three months worth of payroll expenses and opening inventory. The breakout of the funding is below:

  • Restaurant Build-Out and Design – $100,000
  • Kitchen supplies and equipment – $100,000
  • Opening inventory – $25,000
  • Working capital (to include 3 months of overhead expenses) – $25,000
  • Marketing (advertising agency) – $25,000
  • Accounting firm (3 months worth and establishment/permitting of business) – $25,000

strategic plan example for restaurant

Company Overview

Bluehorn Restaurant & Steakhouse is a new restaurant and steakhouse located in Oklahoma City, Oklahoma. Bluehorn Restaurant & Steakhouse will serve a wide variety of dishes and beverages and will cater to the upper middle class to wealthier population of Oklahoma City. The menu of Bluehorn Restaurant & Steakhouse will include bistro-type dishes that are authentically created and crafted by acclaimed Chef Peter Logan. It will be located in the trendy part of town, known as the Plaza District. The Plaza District is one of Oklahoma’s trendy neighborhoods and is considered the “it” area for newlyweds, millennials, professionals, and young singles. The restaurant will be surrounded by classy art galleries, live theater, high-end restaurants and bars, and expensive shopping.

Owned by emerging restaurant operators Chef Peter Logan and Anastasia Gillette, the restaurant’s mission statement is to become the best new steak restaurant in OKC. The following are the types of menu items Bluehorn Restaurant & Steakhouse will serve- shareables, steaks, soups, gourmet sides and salads.

Bluehorn Restaurant & Steakhouse History

Bluehorn Restaurant & Steakhouse is owned by two Oklahoma City natives, Chef Peter Logan and Anastasia Gillette. They have both worked around the country in fine dining establishments and have a combined twenty years in the restaurant industry. Upon working alongside each other at another fine dining establishment in Oklahoma City, the two of them became good friends and decided to venture into owning their own restaurant.

Chef Peter is the kitchen guru and critically acclaimed chef, while Anastasia manages the front of the house and is a certified Sommelier. Together, with both of their expertise and knowledge, Bluehorn Restaurant & Steakhouse is destined to become Oklahoma City’s next big restaurant.

Industry Analysis

The Restaurant industry is expected to grow to over $220 billion in the next five years.

Consumer spending is projected to grow. The Consumer Confidence Index, a leading indicator of spending patterns, is expected to also grow strongly, which will boost restaurant industry growth over the next five years. The growth in consumer confidence also suggests that more consumers may opt to segment their disposable income to eating outside the home.

Additionally, an increase in the number of households earning more than $100,000 annually further contributes to the industry growth, supporting industry operators that offer more niche, higher-end products.  This group is expected to continue to grow in size over the next five years.

The urban population represents a large market for the industry. Specifically, time-strapped individuals living in urban areas will likely frequent industry establishments to save time on cooking. The urban population is expected to increase, representing a potential opportunity for the industry.

Customer Analysis

Demographic profile of target market, customer segmentation.

Bluehorn Restaurant & Steakhouse will primarily target the following customer profile:

  • Upper middle class to wealthier population
  • Millennials
  • Young professionals
  • Households with an average income of at least $75k
  • Foodies and culture enthusiasts

Competitive Analysis

Direct and indirect competitors.

Bluehorn Restaurant & Steakhouse will be competing with other restaurants in Oklahoma City. A profile of each competitor is below. The Press Located in the trendy area known as the Plaza District, The Press has reimagined our favorite foods of the surrounding regions through the lens of home.

The menu consists of appetizers, soups, burgers and sandwiches, bowls, main dishes, sides, desserts, and a large selection of alcoholic beverages. The Press serves craft beer, domestic beer, wine spritzers, house cocktails, wine, and mimosas. They also offer brunch. The menu of The Press is affordable with the most expensive dish being $16. The wine menu is also not pretentious as the wine is sold either by the glass or bottle, with the most expensive bottle being $52 for the Gruet Sparkling Brut Rose. Oak & Ore Oak & Ore is a craft beer and restaurant in OKC’s Plaza District. They have a 36-tap beer selection and offer vegetarian, vegan, and gluten free dining options. Oak & Ore offers a rotating, 36-tap selection of their favorite brews from Oklahoma and around the world. Each beer is thoughtfully paired with a craft beer-inspired dining experience.

The food menu of Oak & Ore offers starters, salads, wings, fried chicken, sandwiches, tacos, banh mi, and sides. They also have a selection of kids dishes so the whole family can enjoy comfort food while sampling one of their delectable beers.

The Mule OKC The Mule is a casual, hip restaurant offering a large beer and cocktail menu plus sandwiches and more. Located in the constantly growing and buzzing hub that is the Plaza District, The Mule takes the timeless favorite and contorts it into a whole menu of wild offerings.

There is also a fantastic assortment of soups offered and The Mule shakes up a seasonal list of cocktails designed by their bar staff. During the winter months, patrons can stave off the cold with their versions of hot toddies and buttered rum. For the beer drinkers, they always have a reliable line-up of fresh cold brews on draft, as well as a wide selection of can.

Competitive Advantage

Bluehorn Restaurant & Steakhouse offers several advantages over its competition. Those advantages are:

  • Gourmet dishes elegantly prepared to the finest standard.
  • Selection of steaks sourced from local Oklahoma farms.
  • An exclusive and unique wine menu that includes a wine selection of all price points.
  • Highly sought after location: Bluehorn Restaurant & Steakhouse will be located in the trendy and attractive neighborhood known as The Plaza District.
  • Trendy, welcoming, and energetic ambiance that will be perfect for a night out or a celebration.

Marketing Plan

Promotions strategy.

The marketing strategy for Bluehorn Restaurant & Steakhouse is as follows: Location Bluehorn Restaurant & Steakhouse’s location is a promotions strategy in itself. The Plaza District is a destination spot for locals, tourists, and anyone looking for the trendiest food fare in Oklahoma City. The Plaza District is home to OKC’s most popular bars and restaurants, art galleries, theaters, and boutique shopping. The millennials, young professionals, and foodies will frequent Bluehorn Restaurant & Steakhouse for the location itself.

Social Media Bluehorn Restaurant & Steakhouse will use social media to cater to the millennials and Oklahoma City residents. Chef Peter and Anastasia plan to hire an advertising agency to take professional photographs of the menu items and location to create appealing posts to reach a greater audience. The posts will include pictures of the menu items, as well as upcoming featured options. SEO Website Marketing Bluehorn Restaurant & Steakhouse plans to invest funds into maintaining a strong SEO presence on search engines like Google and Bing. When a person types in “local fine dining restaurant” or “Oklahoma City restaurant”, Bluehorn Restaurant & Steakhouse will appear in the top three choices. The website will include the full menu, location, hours, and lots of pictures of the food, drinks, and steaks. Third Party Delivery Sites Bluehorn Restaurant & Steakhouse will maintain a presence on sites like GrubHub, Uber Eats, Doordash, and Postmates so that people looking for local food to be delivered will see Bluehorn Restaurant & Steakhouse listed near the top.

Operations Plan

Operation functions:.

The company will hire the following:

  • 4 sous chefs
  • 2 bartenders
  • 2 hostesses
  • The company will hire an advertising agency and an accounting firm

Milestones:

Bluehorn Restaurant & Steakhouse aims to open in the next 6 months. The following are the milestones needed in order to obtain this goal.

7/1/202X – Execute lease for prime location in the Plaza District.

7/2/202X – Begin construction of restaurant build-out.

7/10/202X – Finalize menu.

7/17/202X – Hire advertising company to begin developing marketing efforts.

8/15/202X – Start of marketing campaign

8/22/202X – Final walk-thru of completed restaurant build-out.

8/25/202X – Hire team of sous chefs, servers, and bussers.

9/1/202X – Decoration and set up of restaurant.

9/15/202X – Grand Opening of Bluehorn Restaurant & Steakhouse

Bluehorn Restaurant & Steakhouse will be owned and operated by Chef Peter Logan and Anastasia Gillette. Each will have a 50% ownership stake in the restaurant.

Chef Peter Logan, Co-Owner

Chef Peter Logan is an Oklahoma City native and has been in the restaurant industry for over ten years. He was trained in a prestigious Le Cordon Bleu Culinary Academy in San Francisco and has worked in some of the nation’s most prestigious fine dining restaurants. His tenure has took him from the west coast to the east coast, and now he’s back doing what he loves in his hometown of Oklahoma City.

Chef Peter will manage the kitchen operations of Bluehorn Restaurant & Steakhouse. He will train and oversee the sous chefs, manage inventory, place food inventory orders, deal with the local food vendors, and ensure the highest customer satisfaction with the food.

Anastasia Gillette, Co-Owner

Anastasia Gillette was born and raised in Oklahoma City and has garnered over ten years in the restaurant industry as well. While in college, Anastasia worked as a hostess at one of the area’s most prestigious restaurant establishments. While there, she was eventually promoted to Front of the House Manager where she oversaw the hostesses, servers, bussers, bartenders, and reservations. Her passion always led to the beverage portion of the restaurant so she obtained her Sommelier certificate in 2019. With her wine education, Anastasia is able to cultivate an interesting and elegant wine selection for the restaurant.

Anastasia will oversee front of the house operations, maintain and ensure customer service, and manage all reservations. She will also be in charge of the bar and wine ordering, training of front of the house staff, and will manage the restaurant’s social media accounts once they are set up.

Financial Plan

Key revenue & costs.

The revenue drivers for Bluehorn Restaurant & Steakhouse will come from the food and drink menu items being offered daily.

The cost drivers will be the ingredients and products needed to make the menu items as well as the cooking materials. A significant cost driver is the fine dining equipment, serving dishes, and beer and wine glasses. Other cost drivers will be the overhead expenses of payroll for the employees, accounting firm, and cost of the advertising agency.

Funding Requirements and Use of Funds

Bluehorn Restaurant & Steakhouse is seeking $300,000 in debt financing to open its start-up restaurant. The breakout of the funding is below:

Financial Projections

Income Statement

  Balance Sheet

  Cash Flow Statement

Restaurant Business Plan FAQs

What is a restaurant business plan.

A restaurant business plan is a plan to start and/or grow your restaurant business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your restaurant business plan using our Restaurant Business Plan Template here .

What Are the Main Types of Restaurants?

There are many types of restaurant businesses. Restaurants can range in type from fast food, fast casual, moderate casual, fine dining, and bar and restaurant types. Restaurants also come in a variety of different ethnic or themed categories, such as Mexican restaurants, Asian restaurants, American, etc.  Some restaurants also go mobile and have food trucks.

How Do You Get Funding for Your Restaurant Business Plan?

Restaurant businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Another option for a restaurant business is to obtain a small business loan. SBA loans are a popular option as they offer longer loan terms with lower interest rates.

What are the Steps To Start a Restaurant Business?

1. Develop A Restaurant Business Plan - The first step in starting a business is to create a detailed restaurant business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your restaurant business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your restaurant business is in compliance with local laws.

3. Register Your Restaurant Business - Once you have chosen a legal structure, the next step is to register your restaurant business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your restaurant business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Restaurant Equipment & Supplies - In order to start your restaurant business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your restaurant business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful restaurant business:

  • How to Start a Restaurant Business

Where Can I Get a Restaurant Business Plan PDF?

You can download our free restaurant business plan template PDF here . This is a sample restaurant business plan template you can use in PDF format.

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How to Write a Restaurant Marketing Plan with Any Budget(Free Template)

Ryan Andrews

You love food and you love people. And you want your restaurant business to grow. You know you need a good marketing strategy but it sounds overwhelming to create and execute. Where do you start? 

You may not have a marketing degree or even understand all of the social media, marketing tools and marketing channels and what they can offer you.

However, a great restaurant marketing plan is relatively straightforward when your objectives are distilled and clearly stated.

In this post, we’re going to break down the key essentials of a highly effective restaurant marketing plan ( free template included ). But before delving into expert tips for creating a restaurant marketing plan , let's first define it.

What is a restaurant marketing plan?

A restaurant marketing plan is a strategic document that outlines a restaurant’s strategy to promote a brand, acquire new customers, and enhance the guest experience.

It’s focused on a specific period of business and highlights a variety of marketing-related action steps, such as goal creation, budgeting, and content planning .

quote-img

[A marketing plan] serves as a roadmap for achieving your marketing goals, ensuring that your efforts are focused, consistent, and aligned with your overall business objectives.

Learning how to craft a marketing plan forces you to think about your existing promotions and what you can do to gain a competitive edge.

While some restaurants integrate their overall marketing strategy and vision into their overall business plan , because marketing is critical to customer acquisition and engagement, having a well-researched marketing plan on its own is advisable.

A good idea is to create a working document that you’re continuously accessing and building upon and can attach as an appendix to the restaurant business plan.

strategic plan example for restaurant

Why do operators need a marketing plan? 

0" ng-repeat="text in output.html track by $index" style="text-align: left;"> In 2016 alone, the global food service sector grew by 3% to $1.3 trillion , with a forecast to reach an estimated USD 4.1 Trillion by 2026. This means that there are now more restaurants around the globe than ever before.

0" ng-repeat="text in output.html track by $index" style="text-align: left;"> Restaurant owners, therefore, have a lot of competition. There are many restaurants out there and they are constantly trying to attract new guests.

0" ng-repeat="text in output.html track by $index" style="text-align: left;"> If you want to stand out from the crowd, you need to develop an effective marketing strategy. 

0" ng-repeat="text in output.html track by $index" style="text-align: left;"> Here are a few effective ways that restaurant owners can improve their marketing strategy and help increase their revenue:

What should be included in an effective marketing plan?

A comprehensive restaurant marketing plan should include the following:

0" ng-repeat="text in output.html track by $index" style="text-align: left;">Restaurant owners spend a lot of time thinking about their marketing strategy. And we understand why.

0" ng-repeat="text in output.html track by $index" style="text-align: left;">As mentioned above, a marketing plan is crucial to a restaurant's success. It helps keep your restaurant top of mind, acquire new guests, and most importantly, keep your revenue from declining. 

To help you get started, follow these steps covering all the moving parts of restaurant marketing to set up your new plan and start the process of meeting your new vision with ease.

1. Set measurable goals

The first step to creating a restaurant marketing plan is to establish some goals .

  • What objectives do you plan to accomplish?
  • Are there specific targets you want your team to meet?

If you’re really going to make your restaurant marketing strategies work, it’s going to happen because you’ve got a vision of what you want to achieve during the first year and subsequent years ahead.

Set goals that align with your resources and ambitions.

Smaller goals could be gaining 10 new shares weekly or attracting 150 guests to your grand opening . Larger goals could be doubling sales each quarter .

Get started by establishing a few goals that make sense for your specific case.

As an example, a few goals for your restaurant could be to:

  • Grow drink revenue by 10%
  • Grow lunch hour revenue by $3000
  • Grow per table profit by 12%

Also, quantify your overall objectives with numbers and dates. You could set the goal completion date at three months, and measure your growth daily.

Create a simple wall chart to post in your office so you can make your goals visual and track your progress. 

Use the SMART template created by Filestage for listing each goal. 

plan2

You may also want to take your revenue goals and create more specific goals for wait staff so that they can work on their individual objectives.

Some wait staff objectives could be as follows: 

  • Get at least 10 guests to order an appetizer
  • Get 5 takeout orders per shift 
  • Get 1 order per 2 tasting plates

2. Determine your mission statement

A restaurant's mission and values form the cornerstone of its brand identity, shaping its business decisions, branding, messaging, and operations.

These guiding principles articulate the restaurant's purpose, distinguishing it from competitors and establishing a clear brand narrative.

A well-crafted mission statement encapsulates the restaurant's essence, justifying its existence and setting the stage for effective marketing strategies.

Further reading

  • How to Write a Restaurant Mission Statement (Tips and Examples)

3. Identify potential problems

Once you've figured out your goals and you've come to an agreement regarding your mission statement, you now have to identify the potential problems you and your team might face.

These could include competition, lack of capital, or poor management. Make sure you address these issues before you start your marketing strategy. 

  • 32 Best Restaurant Marketing Strategies (2023 Updates)

It's also good to keep an eye on your restaurant's performance, and what part of your restaurant's operations needs to be added to the marketing plan.

For example , you've noticed that Wednesdays are a lot quieter compared to other days at your restaurant. You then need to consider and create a marketing plan to help increase revenue on these slower days.

But, most importantly how will you manage to have an overview of these types of potential problems?

Pro tip:  Eat App's Advanced Reports , will play a key role here. The performance tracking tool for restaurants is considered a powerful feature to help operators keep tabs on how their establishment is performing and where potential problems might arise. 

The analytic system automatically collects valuable bookings and guest data to help you keep track of your restaurant's growth and overall performance.  

Reports are also fully customizable to give you full control over what you would like to track and have an overview when shared with your team. 

The advanced reports allow you to: 

  • Review reservation and guest data
  • Customize daily, weekly, monthly, or yearly reports
  • A breakdown of covers or bookings
  • Export CSV files or even a graph of any time period

>>> Want to try it yourself? Sign up here - it's free.  

4. Determine your target customers

If you interview any successful restaurateur and ask them their secret, they’ll all tell you the same thing: know your ideal customer.

While it’s tempting to visualize that everyone is interested in dining at your restaurant, focusing on a narrowly defined ideal customer will save you months of wandering in the dark trying to be everything for everyone. 

That’s where an ideal restaurant customer profile comes in handy.

An ideal customer profile is a fictional representation of your ideal customer that helps personalize your sales and marketing efforts.

It lists out demographic information like age, gender, and income, as well as some qualitative details like what they enjoy in certain places, and what their preferences are when it comes time to pick a restaurant for lunch or dinner.

Below is an example by strategy leader Janice Chow.

plan3

To build one for your restaurant, think of the ways you can gather meaningful data on the type of people you aim to serve.

Tried-and-tested methods include: 

  • Conduct a survey on your restaurant website, Facebook page, or email message. Use SurveyMonkey or another similar tool to automate the entire process.
  • Placing comment cards on your tables. Don’t end the card with “Would you refer us to a friend or relative?” – Go one step further and ask why or why not.
  • Researching online communities. Quora , Reddit , and others have targeted communities and subgroups. For researching and gaining insight into your ideal customer personas, the information posted by and exchanged between the members is as good as gold.

Whether it’s families, college students, or both, it’s imperative that you take steps to understand your ideal customer.

The great thing about creating customer profiles is that they can be used to inform many different parts of your branding, product, and marketing strategy. >>> Learn how to find your target market.

5. Evaluate your current standing using SWOT 

The importance of self-evaluation can’t be overstated, especially when you’re creating a marketing plan from scratch.

Restaurants need to be evaluated for both strengths and weaknesses specific to your business; the essence is to discover what you do well, and where you pale in comparison with similar businesses. 

  • Restaurant SWOT Analysis Example You Can Use In 2023

After speaking with some of your guests, or just sitting down and writing it out, choose three strengths of your restaurant and three weaknesses.

Be clear with yourself and ask your servers and other management to write them down as well.

Then, compile them and have a good look at what’s going great and what needs improvement. 

These could be:

  • The food is always hot because you have hired a plate runner.
  • The amount of food is always filling and satisfying. 
  • The ambiance is always inviting and engaging.
  • The floor is always greasy.
  • The kitchen banter is always loud.
  • The chairs are hard.

Make sure your customers know about what you do best!

Focus on one of your strengths that raises you above the competition and spread the word – widely.

As for the weaknesses, make gradual improvements by going back to square one and reassessing where you went wrong with the approach, decision, or product that turned into a disadvantage.

Note: You can also keep tabs on the potential opportunities and threats facing your business by conducting a restaurant SWOT analysis .

Free Restaurant Marketing Plan Template Create your restaurant's marketing plan using our free template Download the Free Template Now

6. Identify your restaurant's marketing objectives

You've decided on measurable goals for your restaurant, now it's important to put together a solid list of objectives that will help you determine your own restaurant's marketing strategy and goals.

To help, we've put together three important pillars you need to consider before finalizing your marketing strategy: 

This is essentially the way you present yourself to your guests and what they see when it comes to your restaurant.

This type of marketing is generally paid social media posts, billboards, an ad on the radio, television, or even in the local papers. 

Here's some great ideas you can share on social media: 

@ryaneditbutter Food people #restaurant #restaurantbusiness ♬ eyes - vip mix - skaiwater

Once your guests know who you are and what your restaurant is about, you can start by getting them to come through your doors.

Ask yourself, what will excite them to come to you?

Is it the food, great service, or that you offer special offers on certain days of the week?

Whatever you choose to be your unique selling point, make sure you add it to your marketing strategy. 

>>> Download our free Guest Acquisition Strategy today. 

Repeat Guests

This is where things really get interesting. Loyal guests are the best. Why?

They're one of the main reasons why you continue to get more customers coming through your door.

They enjoy telling their friends about one of their favorite places to eat, and they also post images of your dishes on their social media pages.

But, the question is, what are you doing as a restaurant owner to get them coming back for more? This is where a powerful CRM tool comes in. 

With Eat App's revolutionary software, you can automatically collect valuable guest data and create robust guest profiles from the moment they make an online booking.

Then to take it a step further, you can segment and filter your guest profiles to help identify your VIP guests and high-spenders so you can create personalized marketing campaigns.

Here you can also take the opportunity to send guests, who haven't been at your restaurant in a while, a special offer to get them to come back.

More on this topic of "Email Marketing" below. 

7. Develop your marketing strategy

You’ve laid the foundation. Now it’s time to build your restaurant marketing strategy.

You’ll want to consider what methods of promotion you will use, and for how long you’ll run each promotion before giving it a revamp.

Based on your goals, customer profiles, and strengths, pick a few of these strategies to implement first:

Also, consider implementing a restaurant marketing framework. 

a. Social media marketing 

While you can run a campaign on nearly every social media network out there, we recommend you narrow your focus to the following:

Instagram  

Your Instagram grid is the easiest place to showcase your food, your ambiance, and everything visual about your customer experience.

Everything is in the photos on Instagram so be sure to post some appealing images of food plates, happy customers, attentive servers, and management.

It’s your opportunity to show them what they can expect at your restaurant.

With your photos, be sure to add relevant #hashtags about the meals you make, the service you provide, and the location you serve.

If you’ve already set up a campaign, we’ve got some tips to help you break through the noise and upgrade your restaurant's Instagram marketing for higher engagement and conversions.

You can also add a "reserve" button on your Instagram page to drive reservations directly through your page.

This long-awaited feature helps restaurants turn their followers into customers without added effort.

Learn how you can add a reserve button on your Instagram page here

Facebook  

Social media platforms with more than 2 billion monthly active users can provide great exposure to your restaurant.

Get started by creating a restaurant business page and posting high-quality images of your food with some enticing captions that induce your target audience to visit your restaurant.

To accommodate for spikes in weekly traffic, schedule posts to go out even when you’re not available.

Spending an hour or two every week on this will mean you have a consistent stream of enticing content for your followers.

But perhaps the most effective way to get your business in front of audiences is by running Facebook ads.

The platform has a highly effective and intuitive ad manager that can help you reach massive amounts of potential diners.

The best part? You don’t need to spend thousands in order to achieve success; a budget of $100-$500 is enough to reach a good-sized local audience . 

Like Instagram, Facebook also offers a "reserve" button that allows people to book a table at your restaurant through your page.

  • How to Add the 'Reserve' button to your Restaurant's Facebook and Instagram Profiles

Google Business  

Whenever you search for a restaurant or a business you've probably noticed their Google My Business Listing before anything else.

This page is essentially considered a card that features important details about your restaurant.

What time you open, where you're based, what time you close, guest reviews and images of your restaurant, etc.

Learn more about Google and your restaurant

  • Adding reservation links to Google
  • Google Business for restaurants guide

All the more reason you should add a "reserve button" to give guests a seamless option to book online.

Pro tip: Reservation platforms like Eat App have partnered with Google to bring this feature to various restaurants around the world. 

TikTok  

TikTok boasts impressive open rates, indicating a high level of user engagement.

Restaurants can effectively showcase their brand, products, and services to a receptive audience by creating engaging and informative TikToks.

To harness the full potential of TikTok, businesses should consider the following strategies:

  • Understand Your Audience:   Tailor your content to resonate with your target audience's interests and preferences.
  • Embrace Creativity: Experiment with different video formats and trends to capture attention and spark engagement.
  • Consistency is Key: Maintain a regular posting schedule to keep your audience engaged and coming back for more.
  • Encourage Interaction: Respond to comments and answer questions to foster a sense of community.
  • Track and Analyze: Regularly monitor your performance metrics to identify what's working well and areas for improvement.

By embracing TikTok as an integral component of their social media strategy, local businesses can effectively engage potential customers, expand their online reach, and ultimately achieve their marketing goals.

@nonofo.brand.image.coach One of the best affordable restaurants in town #mmokolodibushkitchen ♬ Paradise - TELL YOUR STORY music by Ikson™
  • How to Get More Restaurant Reservations with Google in 2023

b. Email marketing

72% of consumers prefer businesses to contact them through direct mail campaigns, and restaurant customers are no exception.

Email marketing is an important channel for restaurants.

Sending regular emails to people who’ve subscribed to your email list helps foster loyalty; when loyal customers see your restaurant logo often and receive your event updates, menu items, coupons, etc. they begin to feel they’re part of your exclusive community.

You can further encourage that feeling by including a quick note from your executive chef, or other personnel who is known as the face of your business.

Personalization and segmentation will also help your email campaigns gain more traction by categorizing your subscribers into specific groups for more targeted marketing tactics and promotions.

Pro tip: Consider leveraging an automation tool like, Eat App to streamline customer engagement.

Personalized messages based on guest data, such as visit frequency, spend history, and special occasions, can be automatically delivered, enhancing the customer experience.

c. Loyalty programs

In times where customer acquisition costs can be burdensome for new – and even established – restaurants, loyalty programs can help to secure brand value in the form of repeat business from people who’re already delighted to be dining with you.

These programs include restaurants offering membership to regular guests, and in turn presenting them with reward points that can be exchanged for perks like free desserts, 50% discount, and more.

Starting a restaurant loyalty program is simple. You’ll just need to order a batch of punch cards and hand them out to your regulars.

When a member orders a menu item, you put a stamp on their punch card.

Once they’ve received a specific number of stamps, they get a free perk.

Restaurant loyalty tools, however, have made it possible for restaurateurs to assign points and rewards digitally. 

8. Determine your restaurant marketing budget

Since every business has its priorities, there’s no set formula for determining a restaurant's SMS marketing and budget.

However, there are a few considerations that can be applied to any restaurant for determining the amount of money you should invest in digital marketing efforts.

If you’re a brand-new restaurant, you’ll have to spend more on marketing to get the word out. Plan to spend 25-35% of revenue on marketing. Use more if you need more traction, and less if you have a good roster.

When your restaurant is established and has a steady business, you can scale back your marketing spending to 12-18%, considering your competition and profit margins. 

If your revenues are declining due to an economic crisis or competition, it’s best to increase your percentage by 3-10% to generate more new clientele.

Choose to invest in the channels that are bringing in the most return.

Unfortunately, when a budget gets smaller marketing initiatives can be the first to go out the door when the exact opposite needs to happen.

Resist the urge to cut back on marketing because you need to generate market buzz to drive business.

For example, companies that spent 16.5% of their budget on marketing grew 1 - 15% year over year, those that spent 22% grew 16-30%, and those that spent 50% grew 31-100% more.

You can see how crucial marketing is in creating growth as per these findings from Small Business Marketing Tools.

9. Your restaurant itself should do the marketing

The restaurant is the marketing plan's most significant "medium." Even with the best marketing efforts and an abundance of traffic, the ability to meet customer expectations will be short-lived if the experience falls short of expectations.

Therefore, pay close attention to even the smallest aspects and try to make the restaurant as appealing as you can. It must have a certain atmosphere, energy, or emotion when you first go in.

10. Take ownership of a day

Have a day of your own. Instead of trying to get people to attend every day, focus on just one day.

It may be Wednesday or something. Create a marketing campaign centered around the idea that this restaurant has a special Wednesday offer that includes music, a certain food item, or something else entirely.

Thursday night is wings night at a nearby local eatery, and people swarm there for the inexpensive wings.

However, consumers are more inclined to visit on a Friday or Saturday after experiencing the location on a Thursday. Therefore, while it could last, it's a campaign idea.

11. Interact with the community

Donate to the local high school sports boosters, purchase advertisements in their publications, and build signs in the Little League park—there are many methods to spread the word about the restaurant's concern for the community and commitment to giving back.

12. Consider user-generated content (UGC)

Motivate customers to share photos of their cocktails on their social media channels. If they do, they might receive a half-off drink (it's simple to verify if they tag the restaurant).

Encourage some word-of-mouth, relevance, and friends' implied support.

The takeaway

There you have it, a step-by-step guide to building your own killer restaurant marketing plan. 

Marketing is the trumpet call of your business and it's an important element to success.

No matter how great your cuisine or ambiance is, if no one knows about your restaurant in the first place, you’re not filling any tables.

Guests don’t magically turn up out of nowhere, you have to take your business to them. 

This might take you anywhere from one day to a whole month of doing nothing except constantly crafting your plan and marketing calendar.

But rest assured, once it’s complete you’ll know exactly which route to take and how to tap into the full potential of your marketing to drive better revenue. 

Ready to get started with creating your restaurant's marketing plan? Download our free template to guide you through the process.

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Frequently Ask Questions

What are the 4 ps of a marketing plan.

The four Ps of marketing is the foundation of any marketing plan. They are:

Product: Define, meet, differentiate

Price: Attractive, profitable

Place: Available channels

Promotion: Effective communication

What makes a good marketing plan?

A good marketing plan is not just a static document; it's a dynamic process that adapts to changing market conditions and consumer preferences.

It's about setting goals, tracking progress, and evaluating results to ensure ongoing effectiveness.

marketing_strategy

Director of Marketing at Eat App

For the past 7+ years Ryan has been focused on helping restaurants succeed with digital marketing and front-of-house operations. He is Director Marketing at Eat App.

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Reviewed by

Nezar Kadhem

Co-founder and CEO of Eat App

He is a regular speaker and panelist at industry events, contributing on topics such as digital transformation in the hospitality industry, revenue channel optimization and dine-in experience.

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  • 11+ Restaurant Strategic Plan Templates in Google Docs | Word | Pages | PDF

Do you want to improve your restaurant processes and overall operations? Use a restaurant strategic plan to help you with this matter. We prepared a brief discussion and a number of template samples below to give you a jump-start with regards the creation of a highly-usable restaurant strategic plan sample .

strategic plan example for restaurant

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Step 1: Know the Current Condition of Your Restaurant Operations

Step 2: download an editable restaurant strategic plan template, step 3: create a document cover or title page and plan introduction, step 4: present restaurant strategies and action plans for the next operational year, step 5: browse through the final restaurant strategic plan.

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Diving Deep Into Marketing for Restaurants (My Takeaways)

Updated: May 01, 2024

Published: January 30, 2024

I’m fortunate to live in a city that has a thriving restaurant scene (it’s most known for its barbecue and Tex-Mex, if that gives you any hint). And while I don’t consider myself a food connoisseur by any means, I was a food journalist in a past life, so I continue to stay on top of the latest stories and trends surrounding the restaurant industry.

restaurant ideas in action at a business

To do this, I follow a lot of restaurants on social media. I also subscribe to their newsletters, attend their special events, enter their giveaways, and sign up for their rewards programs.

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And because my marketing brain never shuts off, I can’t help but be curious about these restaurant marketing strategies . How well do they work? Which channels do these restaurants perform best on? How do established restaurants maintain interest after the grand opening buzz wears down?

To figure out the answers to these questions, I’m digging deep into restaurant marketing ideas, strategies, and real-life campaigns.

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Restaurant Marketing Strategies That Work

I wanted to get more insight into the world of restaurant marketing, so I spoke with Rachel Ayotte, the founder and CEO of Bread and Butter , a communications agency that works with hospitality clients.

Why do restaurants of all sizes need a marketing strategy? What does an effective campaign look like these days?

“In New York City alone, there are over 25,000 restaurants, which would take the average person 22 years to try,” shares Ayotte.

She adds, “With a huge inventory of options and a relatively short time to succeed, people must know your restaurant not only exists but is also someplace they want to go.”

This is why having a restaurant marketing strategy is essential.

If you want to stand out online and bring more people into your restaurant, here are examples of successful restaurant marketing strategies and campaigns to take inspiration from.

Customer-First Content

An essential restaurant marketing strategy is to focus on your customers. This applies not only to the way you market your restaurant but also to the menu items and products you create.

One creative example of this is Chipotle’s limited edition Napkin Holder, which is inspired by its customers.

Marketing strategy for restaurants examples: Chipotle’s car napkin holder in action.

Using nostalgia in marketing has been a popular strategy in recent years as many businesses' target audiences are growing up. If you’re an established restaurant, don’t be afraid to rehash the past.

This could mean bringing back an old menu item, selling merchandise with retro branding, or even sharing flashbacks from throughout your restaurant’s history.

Nostalgic marketing works not only because it taps into people’s memories and emotions but also because it serves as a reminder of how long you’ve been around.

Social-Driven Content

In my experience, restaurants that prioritize social media in their marketing strategy tend to generate a lot of online buzz.

An example of a restaurant that creates social-driven content is Austin-based El Arroyo . Even though El Arroyo is a Mexican restaurant, you won’t find any pictures of food on its Instagram.

With almost 700K followers, the restaurant is instead known for its real-life marquee sign that displays cheeky jokes and thoughts, often submitted by fans.

The account shares a picture of its sign with a new message every day on Instagram.

Creative restaurant marketing ideas: Austin-based restaurant El Arroyo is famous for its marquee sign that displays cheeky sayings and jokes.

Pink is splashed across its brand imagery, making it unmissable online and in social media feeds. The color pink often evokes a feeling of playfulness, optimism, and femininity, which are all words I’d use to describe Taquero Mucho.

Creating a strong brand is a great way to make your restaurant memorable, as a signature brand essentially markets your restaurant for you.

Brand Partnerships

“One of our favorite and most effective marketing ideas for restaurants to maximize awareness is a partnership with a like-minded brand to tap into their audience,” shares Ayotte.

Ayotte says this is a low-lift way to draw on what you already have — a great restaurant and a great menu. You can “leverage that through another brand that shares a similar ethos and has access to customers the restaurant might not,” she notes

An example of a successful partnership Ayotte’s team developed and executed was between the dessert brand, Lady M Confections , Netflix, and Pearl Studio in advance of the release of the highly anticipated musical Over the Moon.

Restaurant marketing ideas: Dessert brand Lady M created a limited edition mooncake lantern in partnership with Netflix.

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Prioritization templates

With Miro's prioritization templates collection, decide on the problem you and your team are trying to solve, agree on a process, and then put it into action in a collaborative way. Use one of the many prioritization frameworks and move projects forward.

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Kanban Calendar

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Kanban Boards, Agile Methodology, Agile Workflows

Kanban Calendar template enhances workflow visualization by integrating Kanban principles with time management. It enables teams to plan and track tasks across days, weeks, or months, facilitating efficient resource allocation and timely delivery. With customizable features and intuitive design, this template empowers teams to optimize their workflow and meet project deadlines effectively.

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Kanban Successful Evolutionary Change

Kanban Successful Evolutionary Change template guides organizations through the process of implementing Kanban methodology for gradual and sustainable workflow improvement. By emphasizing incremental changes and continuous feedback, this template fosters a culture of continuous improvement and adaptability. Teams can visualize their workflow, identify bottlenecks, and implement changes iteratively, leading to improved efficiency and productivity.

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121 Kanban template streamlines task management by providing a structured framework for prioritization and execution. It encourages a focused approach to task completion by limiting work in progress (WIP) and promoting collaboration between team members. With clear visualization of tasks and progress, teams can maintain workflow balance and deliver high-quality results efficiently.

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Scrum Task Tracker (with CSV export)

Scrum Task Tracker template combines Kanban and Scrum methodologies to enhance project management and tracking. With features like CSV export, teams can capture and analyze task data for insights into performance and improvement areas. This template fosters transparency and accountability, enabling teams to track sprint progress, identify blockers, and adapt their approach to maximize efficiency and deliver value consistently.

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Change Canvas

Kanban Boards, Agile MEthodology, Agile Workflows

Change Canvas template empowers teams to manage and visualize change initiatives effectively. By mapping out stakeholders, goals, and actions, teams can ensure alignment and transparency throughout the change process. This template fosters collaboration and communication, enabling teams to navigate change successfully and achieve desired outcomes while minimizing disruption and resistance.

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Planning With Purpose

Agile Workflows, Agile Methodology, Kanban Boards

Planning With Purpose template offers a structured approach for setting and achieving goals effectively. By aligning actions with objectives, teams can prioritize tasks and track progress towards desired outcomes. This template fosters clarity and accountability, enabling teams to stay focused on what matters most and adapt their plans as needed to drive success.

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The Agile Manifesto - Pocket Sized Principles

Kanban Boards, Agile Methodology, Agile Wokflows

The Agile Manifesto - Pocket Sized Principles template distills the core principles of agile methodology into a concise and actionable format. By providing a visual reference, this template reinforces agile values and principles, guiding teams towards collaborative, adaptive, and customer-centric practices. This template serves as a reminder of agile principles and encourages teams to embody these principles in their daily work.

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Goal Tracker Template for Small Businesses

Goal Tracker Template for Small Businesses empowers small businesses to set and track their goals effectively. By visualizing goals, milestones, and progress, this template fosters accountability and motivation. With features tailored to small business needs, such as revenue tracking and customer acquisition goals, teams can prioritize initiatives and make data-driven decisions to drive growth and success.

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Kyrian Strategic Board V1

Kyrian Strategic Board V1 template offers a comprehensive framework for strategic planning and execution. By visualizing goals, strategies, and action plans, teams can align their efforts and track progress towards strategic objectives. With customizable features and intuitive design, this template empowers teams to optimize their strategic planning process and drive meaningful results.

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Kanban Planner 2024 Week & Month

KANBAN Planner 2024 Week & Month template provides a flexible framework for planning and managing tasks on a weekly and monthly basis. By organizing tasks by priority and deadlines, teams can optimize their workflow and ensure timely delivery of projects. This template fosters transparency and accountability, enabling teams to collaborate effectively and achieve their goals efficiently.

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Project Timeline Template

Project Management

The Project Timeline Template simplifies project management. Illustrating tasks, milestones, and deliverables on a calendar visually shows teams a project's progression. One of its standout benefits is its ability to foster clarity. With this template, project milestones are translated into an easily digestible format, enabling team members to quickly comprehend the entirety of the project's scope and sequence, thereby enhancing productivity and reducing potential misunderstandings.

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SAFe Roam Board

Agile Methodology, Operations, Agile Workflows

A SAFe ROAM Board is a framework for making risks visible. It gives you and your team a shared space to notice and highlight risks, so they don’t get ignored. The ROAM Board helps everyone consider the likelihood and impact of risks, and decide which risks are low priority versus high priority. The underlying principles of SAFe (Scaled Agile Framework) are: drive cost-effective solutions, apply systems thinking, assume that things will change, build incrementally, base milestones on evaluating working systems, and visualize and limit works in progress.

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Bang for the Buck Template

Project Management, Strategic Planning, Prioritization

The name pretty much says it—this Agile framework is all about helping you maximize efficiency by powering collaboration between product managers and dev teams. Together you can go over each to-do on the project agenda and evaluate them in terms of costs and benefits. That way you can prioritize tasks based on how much bang for your buck they deliver. This template is great for teams and organizations that want to make a strategic plan to tackle an upcoming sprint.

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Blue Ocean 4 Actions Framework Template

Leadership, Decision Making, Strategic Planning

For entrepreneurs, so much comes down to new users—how to attract them, impress them, and convert them to loyal customers. This template, designed by the authors of Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, will help you maximize value for you and your customers alike. Using the template’s four steps (divided into easy columns), you’ll easily evaluate your products in more innovative ways and make sure money is being spent in areas that really matter.

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FMEA Analysis Template

Agile Methodology, Strategic Planning, Software Development

When you’re building a business or running a team, risk comes with the territory. You can’t eliminate it. But you CAN identify it and mitigate it, to up your odds of success. Failure Modes and Effects Analysis (FMEA) is a powerful tool designed to help you manage risk and potential problems by spotting them within a process, product, or system. And you’ll spot them earlier in your process—to let you sidestep costly changes that arise late in the game or, worse, after they’ve impacted your customers and their experience.

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Mitch Lacey's Estimation Game Template

Leadership, Agile Methodology, Prioritization

A wordy name but a simple tool, Mitch Lacey’s Estimation Game is an effective way to rank your work tasks by size and priority — so you can decide what to tackle first. In the game, notecards represent your work items and feature ROI, business value, or other important metrics. You’ll place each in a quadrant (ranking them by size and priority) to help you order them in your upcoming schedule. The game also empowers developers and product management teams to work together and collaborate effectively.

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Cynefin Framework Template

Leadership, Decision Making, Prioritization

Companies face a range of complex problems. At times, these problems leave the decision makers unsure where to even begin or what questions to ask. The Cynefin Framework, developed by Dave Snowden at IBM in 1999, can help you navigate those problems and find the appropriate response. Many organizations use this powerful, flexible framework to aid them during product development, marketing plans, and organizational strategy, or when faced with a crisis. This template is also ideal for training new hires on how to react to such an event.

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Pyramid Diagram Template

Business Management, Strategic Planning, Prioritization

A pyramid diagram is a perfect tool for demonstrating concepts that can be broken down into a layered hierarchy. Each level of the pyramid builds on the one before it, clearly illustrating how certain actions lead to specific results. The Miro Pyramid Diagram template is your tool for any and all pyramid illustrations.

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Ansoff Matrix Template

Leadership, Operations, Strategic Planning

Keep growing. Keep scaling. Keep finding those new opportunities in new markets—and creative new ways to reach customers there. Sound like your approach? Then this template might be a great fit. An Ansoff Matrix (aka, a product or market expansion grid) is broken into four potential growth strategies: Market Penetration, Market Development, Product Development, and Diversification. When you go through each section with your team, you’ll get a clear view of your options going forward and the potential risks and rewards of each.

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Priority Matrix Template

If you need a little more than a basic to-do list, then you’d probably benefit from a Priority Matrix. The Priority Matrix template is designed to help you determine which tasks are critical so you can focus on the most urgent needs. In a 2x2 matrix, input your priorities based on whether they must be completed with high or low urgency and are of high or low importance. Applicable to project management and personal management alike, use the Priority Matrix template to improve business processes, create efficiency, remove blockers, and reduce operational waste.

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Strategy Presentation Template

Presentations, Strategic Planning

Presenting your strategies is the best way to allow people to understand what the business will be focusing on in the future. Use this Strategy Presentation Template to communicate your strategic thinking and encourage collaboration.

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Jobs to be Done template

Ideation, Design Thinking, Brainstorming

It’s all about a job done right — customers “hire” a product or service to do a “job,” and if it's not done right, the customer will find someone to do it better. Built on that simple premise, the Jobs To Be Done (JTBD) framework helps entrepreneurs, start-ups, and business managers define who their customer is and see unmet needs in the market. A standard job story lets you see things from your customers’ perspective by telling their story with a “When I…I Want To…So That I …” story structure.

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Product Roadmap Template

Product Management, Roadmaps

Product roadmaps help communicate the vision and progress of what’s coming next for your product. It’s an important asset for aligning teams and valuable stakeholders – including executives, engineering, marketing, customer success, and sales – around your strategy and priorities. Product roadmapping can inform future project management, describe new features and product goals, and spell out the lifecycle of a new product. While product roadmaps are customizable, most contain information about the products you’re building, when you’re building them, and the people involved at each stage.

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Kanban Framework Template

Optimized processes, improved flow, and increased value for your customers — that’s what the Kanban method can help you achieve. Based on a set of lean principles and practices (and created in the 1950s by a Toyota Automotive employee), Kanban helps your team reduce waste, address numerous other issues, and collaborate on fixing them together. You can use our simple Kanban template to both closely monitor the progress of all work and to display work to yourself and cross-functional partners, so that the behind-the-scenes nature of software is revealed.

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Pugh Matrix Template

Strategy, Planning

The Pugh Matrix Template is a powerful tool that enhances your decision-making process. It enables you to systematically compare and evaluate multiple options, leading to more informed and objective decisions. Using this template, you streamline your decision-making process, identify the best alternatives, and ultimately achieve better outcomes.

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Decision Matrix Template

Strategy & Planning

The Decision Matrix Template is an intuitive visual tool for structuring and evaluating multiple choices against distinct criteria. Presenting options in a comparative layout helps distill complex decisions into a digestible format.

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PRD Template

Product Development, Product , Management

The PRD Template by Miro is a blueprint designed to streamline the product development process. Acting as a central hub for all essential details, this template ensures team alignment by laying out clear project objectives, use cases, and design specifics. The primary benefit? Seamless communication and clarity, reducing the likelihood of missteps and fostering a smooth transition from idea conception to product launch.

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Checklist Template

Project Management, Task Management

The Checklist Template is designed to organize and track tasks visually, offering workflow clarity. A key benefit of using this template is its potential to amplify collaboration, ensuring that all team members remain aligned and informed, paving the way for efficient project completion.

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Fibonacci Scale Template

Agile Methodology, Prioritization, Agile Workflows

When you manage a team, you often have to estimate how much time and effort tasks will take to complete. Try what often works for Agile teams all over the world: Turn to the Fibonacci Scale for guidance. Based on the Fibonacci sequence, where each number is the summation of the two previous numbers (0, 1, 2, 3, 5, 8, 13, 21, etc.), this template can help you build timelines like a champ—by helping make sure that work is distributed evenly and that everyone is accurate when estimating the work and time involved in a project.

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SMART Goals Template

Prioritization, Strategic Planning, Project Management

Setting goals can be encouraging, but can also be overwhelming. It can be hard to conceptualize every step you need to take to achieve a goal, which makes it easy to set goals that are too broad or too much of a stretch. SMART is a framework that allows you to establish goals in a way that sets you up for success. SMART stands for Specific, Measurable, Attainable, Relevant, and Timely. If you keep these attributes in mind whenever you set goals, then you’ll ensure your objectives are clear and reachable. Your team can use the SMART model anytime you want to set goals. You can also use SMART whenever you want to reevaluate and refine those goals.

 Business Model Canvas Template in Miro

Business Model Canvas Template

Leadership, Agile Methodology, Strategic Planning

Your business model: Nothing is more fundamental to who you are, what you create and sell, or ultimately whether or not you succeed. Using nine key building blocks (representing nine core business elements), a BMC gives you a highly usable strategic tool to develop and display your business model. What makes this template great for your team? It’s quick and easy to use, it keeps your value proposition front and center, and it creates a space to inspire ideation.

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Tier List Template

A Tier List Template is a ranking tool that allows teams to organize different items into specific categories, or "tiers," based on their significance, quality, or performance. This template is a visual tool that aids in making decisions and prioritizing tasks. Use it to power your brainstorming, strategic meetings, and planning.

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Scope of Work Template

Project management, Planning

The Scope of Work Template from Miro brings structure, clarity, and efficiency to project planning. It's more than just a template—it's an adaptable and dynamic platform that adapts to your unique project needs. Join thousands of satisfied users and make the Scope of Work Template a part of your project management toolkit.

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RICE Prioritization Template

Teams use the RICE framework to prioritize the best course of action for their business. Using the model, you assign a RICE score to different ideas and tasks. This score tells you whether that item is something to prioritize. As a result, you make better-informed decisions about growing your business.

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Kano Model Template

Desk Research, Product Management, Prioritization

When it comes down to it, a product’s success is determined by the features it offers and the satisfaction it gives to customers. So which features matter most? The Kano model will help you decide. It’s a simple, powerful method for helping you prioritize all your features — by comparing how much satisfaction a feature will deliver to what it will cost to implement. This template lets you easily create a standard Kano model, with two axes (satisfaction and functionality) creating a quadrant with four values: attractive, performance, indifferent, and must-be.

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Eisenhower Matrix Template

Leadership, Strategic Planning, Prioritization

Have an overwhelming list of to-dos? Prioritize them based on two key factors: urgency and importance. It worked for American president Dwight D. Eisenhower, and it can work for you—this decision-making framework will help you know where to start and how to plan your day. With our template, you can easily build an Eisenhower Matrix with a quadrant of key areas (Do, Schedule, Delegate, and Don’t Do) and revisit it throughout the day as your priorities change.

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MoSCoW Matrix Template

Ideation, Operations, Prioritization

Keeping track of your priorities is a big challenge on big projects, especially when there are lots of deliverables. The MoSCoW method is designed to help you do it. This powerful technique is built on a matrix model divided into four segments: Must Have, Should Have, Could Have, and Won’t Have (which together give MoSCoW its name). Beyond helping you assess and track your priorities, this approach is also helpful for presenting business needs to an audience and collaborating on deliverables with a group of stakeholders.

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Innovation Matrix Template

Strategic Planning

Visualize the best way to grow your business with this Innovation Matrix template. It’ll show you how to streamline your innovation, make the right decisions about which areas of your business to innovate, and manage the entire process. So if you want to figure out the best way to innovate in your business, an innovation matrix can help.

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How Now Wow Matrix Template

Ideation, Product Management, Prioritization

There are no bad ideas in a brainstorm — but some are more original and easier to implement. The How Now Wow matrix is a tool that helps you identify and organize those great ideas, as well as reinvigorates your team to think creatively and take risks (a taller order as you scale). Grab this template to create your own matrix, then rank the ideas you generated in a brainstorm as “How” (difficult to implement), “Now” (easy to implement), or “Wow” (both original and easy to implement).

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Bull's Eye Diagram Template

Diagrams, Project Management, Prioritization

When you’re a growing organization, every decision can feel like it has make-or-break consequences—which can lead to decision paralysis, an inability to prioritize, inefficient meetings, and even low morale. If that sounds like you, put a Bull’s Eye Diagram to work. True to its name, a Bull’s Eye Diagram uses a model of concentric circles to help companies establish priorities, make critical decisions, or discuss how to remove or overcome obstacles.

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Action Priority Matrix Template

You and your teammates probably have more ideas than resources, which can make it difficult to prioritize tasks. Use an Action Priority Matrix to help choose the order in which you will work on your tasks, allowing you to save time and money and avoid getting bogged down in unnecessary work. An Action Priority Matrix is a simple diagram that allows you to score tasks based on their impact and the effort needed to complete them. You use your scores to plot each task in one of four quadrants: quick wins, major projects, fill-ins, and thankless tasks.

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SWOT Analysis Template

Decision Making, Strategic Planning, Prioritization

When you’re developing a business strategy, it can be hard to figure out what to focus on. A SWOT analysis helps you hone in on key factors. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and weaknesses are internal factors, like your employees, intellectual property, marketing strategy, and location. Opportunities and threats are usually external factors, like market fluctuations, competition, prices of raw materials, and consumer trends. Conduct a SWOT analysis whenever you want to explore opportunities for new businesses and products, decide the best way to launch a product, unlock your company’s potential, or use your strengths to develop opportunities.

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Impact/Effort Matrix Template

Growing organizations have countless to-do’s and only so many hours in a day (or weeks before a big launch) to get them done. That’s where an impact effort matrix comes in. It gives you a quick visual guide to help prioritize your tasks and know exactly what’s worth doing. Using our template, you can create a matrix that organizes your activities into four main categories: quick wins that are low effort, effort-intensive projects that provide long-term returns, fill-ins that are low effort but low value, and time-wasters.

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2x2 Prioritization Matrix Template

Operations, Strategic Planning, Prioritization

Ready to set boundaries, prioritize your to-dos, and determine just what features, fixes, and upgrades to tackle next? The 2x2 prioritization matrix is a great place to start. Based on the lean prioritization approach, this template empowers teams with a quick, efficient way to know what's realistic to accomplish and what’s crucial to separate for success (versus what’s simply nice to have). And guess what—making your own 2x2 prioritization matrix is easy.

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3x3 Prioritization Method Template

Operations, Prioritization, Strategic Planning

It’s all about assessing a task or idea, and quickly deciding the effort it will take and the potential impact it will have—ranked low, medium, or high. That’s what the 3x3 prioritization method does: Help teams prioritize and identify quick wins, big projects, filler tasks, or time-wasters. With nine bucket areas, it offers slightly greater detail than the 2x2 Prioritization Matrix (or Lean Prioritization Method). It’s easy to make your own 3x3 prioritization matrix—then use it to determine what activities or ideas to focus on with your valuable resources.

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Conversion Funnel Backlog Template

Decision Making, Product Management, Prioritization

If you’re working on a product that has clear conversions, then it can help to structure your backlog around the conversion funnel to make sure you’re reaching your audience. Creating a conversion funnel backlog brings together information around potential pain-points in your funnel and opportunities for growth. Once you’ve identified that information, it becomes easier to prioritize. You and your team can use the conversion funnel backlog to focus on conversion, retention, and referral, or to tweak your workflow in more mature products.

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Outcome Mapping Template

Diagrams, Mapping, Project Management

Use Miro’s outcome mapping template to improve your operational efficiency. Outcome mapping will help you visualize all the possible strategic outcomes for your upcoming project, allowing you to see into the black box to identify any potential challenges along the way.

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Strategic Group Mapping Template

Mapping, Strategy

The Strategic Group Mapping Template is a cutting-edge visual tool designed to translate the competitive landscape of their industry. By allowing users to plot entities based on distinct criteria, this template provides an at-a-glance view of market dynamics. One standout benefit of using this tool is its ability to identify clusters of competitors and market gaps, paving the way for businesses to strategically position themselves for optimal success.

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PI Planning Template

PI planning stands for “program increment planning.” Part of a Scaled Agile Framework (SAFe), PI Planning helps teams strategize toward a shared vision. In a typical PI planning session, teams get together to review a program backlog, align cross-functionally, and decide on the next steps. Many teams carry out a PI planning event every 8 to 12 weeks, but you can customize your planning schedule to fit your needs. Use PI planning to break down features, identify risks, find dependencies, and decide which stories you’re going to develop.

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Synoptic Table Template

Brainstorming

Reduce complexity and bring clarity to your teamwork with the Synoptic Table Template by Miro. Break down abstract concepts into clear, manageable components.

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Idea Funnel Backlog

Design, Brainstorming, Agile Workflows

An Idea Funnel Backlog enables you to visualize your backlog and restrict the number of backlogged items at the top. In doing sos, you can prioritize items on your list without having to engage in unnecessary meetings or create too much operational overhead. To use the Idea Funnel Backlog, break up the funnel into different phases or treat it like a roadmap. Use the Idea Funnel Backlog as a hybrid model that combines your roadmap and backlog into one easily digestible format.

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Target Audience Template

Marketing, Desk Research, Prioritization

Understanding your target audience is vital to business success. How can you market yourself effectively if you don’t know who you’re targeting? Using the Target Audience template, you can review valuable data about who your customers are and what they want from your product or service.

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STAR Technique Template

Strategic Planning, Prioritization

Find out how to use the STAR interview method to identify the best candidate for the role. Interviewees can also use the STAR technique to prepare detailed and thorough responses during the interview.

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MoSCoW method template

Invite stakeholders, supervisors, and collaborators to participate in an interactive MoSCoW requirements template.

Prioritizing is a priority

Say goodbye to those “shoulda, coulda, woulda” regrets and keep your MoSCoW method agile.

Tackle your tasks: Categorize every important requirement in one place—then get cracking.

Manage your must-haves: Ensure everyone is on the same page about the non-negotiable aspects of your initiative.

Shrink your spending: Stay within budget with task prioritization features that align with your development costs.

colorful rectangles labeled with the words must have, should have, could have and won't have

FigJam Plan projects with your people

When it comes to must-haves, there’s one can’t-miss: teamwork. When you pull up a MoSCoW template in a shared FigJam whiteboard, you can drag and drop ideas, augment your plan with widgets, and share feedback with anyone—whether they’re in Moscow, Manilla, or Melbourne.

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Conserve your all-important time and energy when you use a MoSCoW matrix template to organize your initiative. Discover more essential graphic organizers from our community.

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Prioritize finding more helpful tools from FigJam’s collective.

What is the MoSCoW method?

The MoSCoW method—which is sometimes called the MoSCoW framework or MoSCoW analysis—is a graphic organizer that takes a four-pronged approach to prioritizing features and responsibilities. When you fill out a MoSCoW matrix, you’ll sort all your ideas into four distinct categories: must-have, should-have, could-have, and won’t-have.

The MoSCoW method was introduced by software developer Dai Clegg during his time at Oracle in the 1990s. Half word, half acronym, and all efficiency, MoSCoW is a handy visual tool that can help you and your project team focus on the right things.

What are the steps in MoSCoW prioritization?

Each step of the MoSCoW prioritization method involves slotting parts of a project into one of the following four categories:

Must-haves – Step one is to list the big-ticket items that dictate whether your project will succeed or fail. Think legal requirements, safety considerations, and non-negotiable features that make up the majority of a project.

Should-haves – Step two is to count out your should-haves—in other words, the features that would greatly benefit the project but may need to be omitted or altered if push comes to shove.

Could-haves – Step three includes your maybes. Could-haves are like “bonus” ideas—budget permitting, they’d be an excellent addition, but they won’t make or break the final product.

Won’t-haves – Step four is where you’ll put the concepts that simply aren’t viable for the project. Won’t-haves usually arise out of budget or time constraints.

How do you use MoSCoW prioritization?

To incorporate this method into your workflow, start with a customizable MoSCoW prioritization template from FigJam. Right away, you’ll be able to rearrange your ideas on a whim and give and receive feedback through text or audio.

Once you’ve set up your template, assemble the appropriate stakeholders and go through the four steps above. It may be helpful to list all aspects of your project before categorizing each one.

With your MoSCoW method template filled out, it’s time to tackle your must-haves, then allot any extra time and money to your should- and could-haves.

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MoSCoW Prioritization

What is moscow prioritization.

MoSCoW prioritization, also known as the MoSCoW method or MoSCoW analysis, is a popular prioritization technique for managing requirements. 

  The acronym MoSCoW represents four categories of initiatives: must-have, should-have, could-have, and won’t-have, or will not have right now. Some companies also use the “W” in MoSCoW to mean “wish.”

What is the History of the MoSCoW Method?

Software development expert Dai Clegg created the MoSCoW method while working at Oracle. He designed the framework to help his team prioritize tasks during development work on product releases.

You can find a detailed account of using MoSCoW prioritization in the Dynamic System Development Method (DSDM) handbook . But because MoSCoW can prioritize tasks within any time-boxed project, teams have adapted the method for a broad range of uses.

How Does MoSCoW Prioritization Work?

Before running a MoSCoW analysis, a few things need to happen. First, key stakeholders and the product team need to get aligned on objectives and prioritization factors. Then, all participants must agree on which initiatives to prioritize.

At this point, your team should also discuss how they will settle any disagreements in prioritization. If you can establish how to resolve disputes before they come up, you can help prevent those disagreements from holding up progress.

Finally, you’ll also want to reach a consensus on what percentage of resources you’d like to allocate to each category.

With the groundwork complete, you may begin determining which category is most appropriate for each initiative. But, first, let’s further break down each category in the MoSCoW method.

Start prioritizing your roadmap

Moscow prioritization categories.

Moscow

1. Must-have initiatives

As the name suggests, this category consists of initiatives that are “musts” for your team. They represent non-negotiable needs for the project, product, or release in question. For example, if you’re releasing a healthcare application, a must-have initiative may be security functionalities that help maintain compliance.

The “must-have” category requires the team to complete a mandatory task. If you’re unsure about whether something belongs in this category, ask yourself the following.

moscow-initiatives

If the product won’t work without an initiative, or the release becomes useless without it, the initiative is most likely a “must-have.”

2. Should-have initiatives

Should-have initiatives are just a step below must-haves. They are essential to the product, project, or release, but they are not vital. If left out, the product or project still functions. However, the initiatives may add significant value.

“Should-have” initiatives are different from “must-have” initiatives in that they can get scheduled for a future release without impacting the current one. For example, performance improvements, minor bug fixes, or new functionality may be “should-have” initiatives. Without them, the product still works.

3. Could-have initiatives

Another way of describing “could-have” initiatives is nice-to-haves. “Could-have” initiatives are not necessary to the core function of the product. However, compared with “should-have” initiatives, they have a much smaller impact on the outcome if left out.

So, initiatives placed in the “could-have” category are often the first to be deprioritized if a project in the “should-have” or “must-have” category ends up larger than expected.

4. Will not have (this time)

One benefit of the MoSCoW method is that it places several initiatives in the “will-not-have” category. The category can manage expectations about what the team will not include in a specific release (or another timeframe you’re prioritizing).

Placing initiatives in the “will-not-have” category is one way to help prevent scope creep . If initiatives are in this category, the team knows they are not a priority for this specific time frame. 

Some initiatives in the “will-not-have” group will be prioritized in the future, while others are not likely to happen. Some teams decide to differentiate between those by creating a subcategory within this group.

How Can Development Teams Use MoSCoW?

  Although Dai Clegg developed the approach to help prioritize tasks around his team’s limited time, the MoSCoW method also works when a development team faces limitations other than time. For example: 

Prioritize based on budgetary constraints.

What if a development team’s limiting factor is not a deadline but a tight budget imposed by the company? Working with the product managers, the team can use MoSCoW first to decide on the initiatives that represent must-haves and the should-haves. Then, using the development department’s budget as the guide, the team can figure out which items they can complete. 

Prioritize based on the team’s skillsets.

A cross-functional product team might also find itself constrained by the experience and expertise of its developers. If the product roadmap calls for functionality the team does not have the skills to build, this limiting factor will play into scoring those items in their MoSCoW analysis.

Prioritize based on competing needs at the company.

Cross-functional teams can also find themselves constrained by other company priorities. The team wants to make progress on a new product release, but the executive staff has created tight deadlines for further releases in the same timeframe. In this case, the team can use MoSCoW to determine which aspects of their desired release represent must-haves and temporarily backlog everything else.

What Are the Drawbacks of MoSCoW Prioritization?

  Although many product and development teams have prioritized MoSCoW, the approach has potential pitfalls. Here are a few examples.

1. An inconsistent scoring process can lead to tasks placed in the wrong categories.

  One common criticism against MoSCoW is that it does not include an objective methodology for ranking initiatives against each other. Your team will need to bring this methodology to your analysis. The MoSCoW approach works only to ensure that your team applies a consistent scoring system for all initiatives.

Pro tip: One proven method is weighted scoring, where your team measures each initiative on your backlog against a standard set of cost and benefit criteria. You can use the weighted scoring approach in ProductPlan’s roadmap app .

2. Not including all relevant stakeholders can lead to items placed in the wrong categories.

To know which of your team’s initiatives represent must-haves for your product and which are merely should-haves, you will need as much context as possible.

For example, you might need someone from your sales team to let you know how important (or unimportant) prospective buyers view a proposed new feature.

One pitfall of the MoSCoW method is that you could make poor decisions about where to slot each initiative unless your team receives input from all relevant stakeholders. 

3. Team bias for (or against) initiatives can undermine MoSCoW’s effectiveness.

Because MoSCoW does not include an objective scoring method, your team members can fall victim to their own opinions about certain initiatives. 

One risk of using MoSCoW prioritization is that a team can mistakenly think MoSCoW itself represents an objective way of measuring the items on their list. They discuss an initiative, agree that it is a “should have,” and move on to the next.

But your team will also need an objective and consistent framework for ranking all initiatives. That is the only way to minimize your team’s biases in favor of items or against them.

When Do You Use the MoSCoW Method for Prioritization?

MoSCoW prioritization is effective for teams that want to include representatives from the whole organization in their process. You can capture a broader perspective by involving participants from various functional departments.

Another reason you may want to use MoSCoW prioritization is it allows your team to determine how much effort goes into each category. Therefore, you can ensure you’re delivering a good variety of initiatives in each release.

What Are Best Practices for Using MoSCoW Prioritization?

If you’re considering giving MoSCoW prioritization a try, here are a few steps to keep in mind. Incorporating these into your process will help your team gain more value from the MoSCoW method.

1. Choose an objective ranking or scoring system.

Remember, MoSCoW helps your team group items into the appropriate buckets—from must-have items down to your longer-term wish list. But MoSCoW itself doesn’t help you determine which item belongs in which category.

You will need a separate ranking methodology. You can choose from many, such as:

  • Weighted scoring
  • Value vs. complexity
  • Buy-a-feature
  • Opportunity scoring

For help finding the best scoring methodology for your team, check out ProductPlan’s article: 7 strategies to choose the best features for your product .

2. Seek input from all key stakeholders.

To make sure you’re placing each initiative into the right bucket—must-have, should-have, could-have, or won’t-have—your team needs context. 

At the beginning of your MoSCoW method, your team should consider which stakeholders can provide valuable context and insights. Sales? Customer success? The executive staff? Product managers in another area of your business? Include them in your initiative scoring process if you think they can help you see opportunities or threats your team might miss. 

3. Share your MoSCoW process across your organization.

MoSCoW gives your team a tangible way to show your organization prioritizing initiatives for your products or projects. 

The method can help you build company-wide consensus for your work, or at least help you show stakeholders why you made the decisions you did.

Communicating your team’s prioritization strategy also helps you set expectations across the business. When they see your methodology for choosing one initiative over another, stakeholders in other departments will understand that your team has thought through and weighed all decisions you’ve made. 

If any stakeholders have an issue with one of your decisions, they will understand that they can’t simply complain—they’ll need to present you with evidence to alter your course of action.  

Related Terms

2×2 prioritization matrix / Eisenhower matrix / DACI decision-making framework / ICE scoring model / RICE scoring model

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Here is a free business plan sample for a fruit and vegetable store.

fruit and vegetable market profitability

Have you ever envisioned owning a bustling fruit and vegetable market that serves as a cornerstone of health in your community? Wondering where to start?

Look no further, as we're about to guide you through a comprehensive business plan tailored for a fruit and vegetable market.

Creating a solid business plan is crucial for any aspiring entrepreneur. It serves as a roadmap, outlining your vision, objectives, and the strategies you'll employ to turn your fresh produce venture into a thriving business.

To jumpstart your planning process with ease and precision, feel free to utilize our fruit and vegetable market business plan template. Our team of experts is also on standby to provide a free review and fine-tuning of your plan.

business plan produce market

How to draft a great business plan for your fruit and vegetable store?

A good business plan for a fruit and vegetable market must cater to the unique aspects of this type of retail business.

Initially, it's crucial to provide a comprehensive overview of the market landscape. This includes up-to-date statistics and an exploration of emerging trends within the industry, similar to what we've incorporated in our fruit and vegetable market business plan template .

Your business plan should articulate your vision clearly. Define your target demographic (such as local residents, restaurants, or health-conscious consumers) and establish your market's distinctive features (like offering organic produce, exotic fruits, or locally-sourced vegetables).

Market analysis is the next critical component. This requires a thorough examination of local competitors, market dynamics, and consumer buying patterns.

For a fruit and vegetable market, it's imperative to detail the range of products you intend to sell. Describe your selection of fruits, vegetables, herbs, and any additional items you plan to offer, and discuss how these choices align with the preferences and needs of your customer base.

The operational plan is equally important. It should outline the location of your market, the layout of the retail space, your supply chain for fresh produce, and inventory management practices.

Given the nature of a fruit and vegetable market, it is vital to highlight the freshness and quality of your produce, your relationships with growers and suppliers, and adherence to health and safety standards.

Then, delve into your marketing and sales strategies. How do you plan to attract and keep customers coming back? Consider your approach to promotions, customer loyalty programs, and potential value-added services (like home delivery or a juice bar).

Incorporating digital strategies, such as an online ordering system or a robust social media presence, is also crucial in the modern marketplace.

The financial section is another cornerstone of your business plan. It should encompass the initial investment, projected sales, operating expenses, and the point at which you expect to break even.

With a fruit and vegetable market, managing waste and understanding the shelf life of products are critical, so precise planning and knowledge of your financials are essential. For assistance, consider using our financial forecast for a fruit and vegetable market .

Compared to other business plans, a fruit and vegetable market plan must pay closer attention to the perishability of inventory, the importance of a robust supply chain, and the potential for seasonal fluctuations.

A well-crafted business plan not only helps you to define your strategies and vision but also plays a pivotal role in attracting investors or securing loans.

Lenders and investors are keen on a solid market analysis, realistic financial projections, and a comprehensive understanding of the day-to-day operations of a fruit and vegetable market.

By presenting a thorough and substantiated plan, you showcase your dedication and readiness for the success of your venture.

To achieve these goals while saving time, you are welcome to fill out our fruit and vegetable market business plan template .

business plan fruit and vegetable store

A free example of business plan for a fruit and vegetable store

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a fruit and vegetable market .

Here, we will follow the same structure as in our business plan template.

business plan fruit and vegetable store

Market Opportunity

Market data and figures.

The fruit and vegetable market is an essential and robust component of the global food industry.

Recent estimates value the global fruit and vegetable trade at over 1 trillion dollars, with expectations for continued growth as consumers seek healthier eating options. In the United States, the fruit and vegetable industry contributes significantly to the economy, with thousands of markets and stores providing a wide range of produce to meet consumer demand.

These statistics underscore the critical role that fruit and vegetable markets play in not only providing nutritious food options but also in supporting local agriculture and economies.

Current trends in the fruit and vegetable industry indicate a shift towards organic and locally sourced produce, as consumers become more health-conscious and environmentally aware.

There is an increasing demand for organic fruits and vegetables, driven by the perception of better quality and concerns about pesticides and other chemicals. The local food movement is also gaining momentum, with consumers showing a preference for produce that is grown locally to support community farmers and reduce carbon emissions associated with transportation.

Technological advancements are influencing the industry as well, with innovations in vertical farming and hydroponics allowing for more sustainable and space-efficient growing methods.

Online grocery shopping and delivery services are expanding, making it easier for consumers to access fresh produce directly from their homes.

Additionally, the push for transparency in food sourcing continues to grow, with consumers wanting to know more about where their food comes from and how it is grown.

These trends are shaping the future of the fruit and vegetable market, as businesses strive to meet the evolving preferences and values of modern consumers.

Success Factors

Several key factors contribute to the success of a fruit and vegetable market.

Quality and freshness of produce are paramount. Markets that offer a wide variety of fresh, high-quality fruits and vegetables are more likely to build and maintain a dedicated customer base.

Diversity in product offerings, including exotic or hard-to-find produce, can differentiate a market from its competitors.

Location is also vital, as markets that are easily accessible to consumers will naturally attract more foot traffic.

Customer service is another important aspect, with knowledgeable and friendly staff enhancing the shopping experience and encouraging repeat visits.

Effective cost management and the ability to adapt to changing consumer trends, such as the demand for organic and locally grown produce, are crucial for the long-term viability of a fruit and vegetable market.

The Project

Project presentation.

Our fruit and vegetable market project is designed to cater to the increasing consumer demand for fresh, organic, and locally-sourced produce. Situated in a community-focused neighborhood, our market will offer a diverse selection of fruits and vegetables, emphasizing seasonal and organic options. We will partner with local farmers and suppliers to ensure that our customers have access to the freshest produce available, supporting sustainable agricultural practices and reducing our carbon footprint.

We aim to provide not just produce, but a holistic healthy eating experience by offering a range of complementary products such as herbs, spices, and artisanal condiments. Our market will be a hub for health-conscious consumers and those interested in cooking with the finest ingredients.

Our fruit and vegetable market is set to become a cornerstone in the community, promoting healthier lifestyles and fostering connections between local producers and consumers.

Value Proposition

The value proposition of our fruit and vegetable market lies in our commitment to providing the community with the highest quality fresh produce. We understand the importance of nutrition and the role that fruits and vegetables play in maintaining a healthy diet.

Our market will offer a unique shopping experience where customers can enjoy a wide variety of produce, learn about the benefits of incorporating more fruits and vegetables into their diets, and discover new and exotic varieties. We are dedicated to creating a welcoming environment where everyone can find something to enrich their meals and support their well-being.

By focusing on local and organic sourcing, we also contribute to the sustainability of our food systems and the prosperity of local farmers, aligning our business with the values of environmental stewardship and community support.

Project Owner

The project owner is an individual with a profound passion for healthy living and community engagement. With a background in agricultural studies and experience in the food retail industry, they are well-equipped to establish a market that prioritizes quality and freshness.

They bring a wealth of knowledge about the seasonality and sourcing of produce, and are committed to creating a marketplace that reflects the diversity and richness of nature's offerings. Their dedication to health, nutrition, and sustainability drives them to build a market that not only sells fruits and vegetables but also educates and inspires the community to embrace a healthier, more sustainable lifestyle.

Their vision is to create a space where the joy of fresh, wholesome food is accessible to all, and where the market serves as a vibrant gathering place for people to connect with their food and each other.

The Market Study

Market segments.

The market segments for this fruit and vegetable market are diverse and cater to a wide range of consumers.

Firstly, there are health-conscious individuals who prioritize fresh, organic produce in their diets for wellness and nutritional benefits.

Secondly, the market serves customers who are looking for locally-sourced and seasonal produce to support community farmers and reduce their carbon footprint.

Additionally, the market attracts individuals with specific dietary needs, such as vegans, vegetarians, and those with food sensitivities who require a variety of fresh produce options.

Culinary professionals, including chefs and caterers, represent another segment, seeking high-quality ingredients to enhance their dishes.

SWOT Analysis

A SWOT analysis of the fruit and vegetable market project highlights several key factors.

Strengths include a strong focus on fresh, high-quality produce, relationships with local farmers, and a commitment to sustainability and eco-friendly practices.

Weaknesses might involve the perishable nature of inventory, the need for constant supply chain management, and potential seasonal fluctuations in product availability.

Opportunities exist in expanding the market's reach through online sales and delivery services, as well as in educating consumers about the benefits of eating fresh and local produce.

Threats could include competition from larger grocery chains with more buying power, adverse weather affecting crop yields, and potential economic downturns reducing consumer spending on premium produce.

Competitor Analysis

Competitor analysis in the fruit and vegetable market sector indicates a varied landscape.

Direct competitors include other local markets, organic food stores, and large supermarkets with extensive produce sections.

These competitors vie for customers who value convenience, variety, and price.

Potential competitive advantages for our market include superior product freshness, strong community ties, exceptional customer service, and a focus on sustainable and ethical sourcing.

Understanding the strengths and weaknesses of these competitors is crucial for carving out a niche and ensuring customer loyalty.

Competitive Advantages

Our fruit and vegetable market's dedication to offering the freshest and highest quality produce sets us apart from the competition.

We provide a wide array of fruits and vegetables, including rare and exotic items, to cater to the diverse tastes and needs of our customers.

Our commitment to sustainability, through supporting local farmers and minimizing waste, resonates with environmentally conscious consumers.

We also emphasize transparency and education about the source and benefits of our produce, fostering a trusting relationship with our clientele.

You can also read our articles about: - how to open a fruit and vegetable store: a complete guide - the customer segments of a fruit and vegetable store - the competition study for a fruit and vegetable store

The Strategy

Development plan.

Our three-year development plan for the fresh fruit and vegetable market is designed to promote healthy living within the community.

In the first year, our goal is to establish a strong local presence by sourcing a wide variety of high-quality, seasonal produce and building relationships with local farmers and suppliers.

The second year will focus on expanding our reach by setting up additional market locations and possibly introducing mobile market services to access a broader customer base.

In the third year, we plan to diversify our offerings by including organic and exotic fruits and vegetables, as well as implementing educational programs on nutrition and sustainable agriculture.

Throughout this period, we will be committed to sustainability, community engagement, and providing exceptional service to ensure we become a staple in our customers' healthy lifestyles.

Business Model Canvas

The Business Model Canvas for our fruit and vegetable market targets health-conscious consumers and those looking for fresh, local produce.

Our value proposition is centered on offering the freshest, high-quality fruits and vegetables, with a focus on local and organic options, and providing exceptional customer service.

We will sell our products through our physical market locations and consider an online ordering system for customer convenience, utilizing our key resources such as our relationships with local farmers and our knowledgeable staff.

Key activities include sourcing and curating produce, maintaining quality control, and engaging with the community.

Our revenue streams will be generated from the sales of produce, while our costs will be associated with procurement, operations, and marketing efforts.

Access a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on community engagement and education.

We aim to highlight the health benefits of fresh produce and the environmental advantages of buying locally. Our approach includes community events, cooking demonstrations, and partnerships with local health and wellness organizations.

We will also leverage social media to showcase our daily offerings, share tips on healthy eating, and feature stories from our partner farmers.

Additionally, we plan to offer loyalty programs and seasonal promotions to encourage repeat business and attract new customers.

Risk Policy

The risk policy for our fruit and vegetable market focuses on mitigating risks associated with perishable goods, supply chain management, and market fluctuations.

We will implement strict quality control measures and develop a robust inventory management system to minimize waste and ensure product freshness.

Building strong relationships with a diverse group of suppliers will help us manage supply risks and price volatility.

We will also maintain a conservative financial strategy to manage operational costs effectively and ensure business sustainability.

Insurance coverage will be in place to protect against unforeseen events that could impact our business operations.

Why Our Project is Viable

We believe in the viability of a fruit and vegetable market that prioritizes freshness, quality, and community health.

With a growing trend towards healthy eating and local sourcing, our market is well-positioned to meet consumer demand.

We are committed to creating a shopping experience that supports local agriculture and provides educational value to our customers.

Adaptable to market trends and customer feedback, we are excited about the potential of our fruit and vegetable market to become a cornerstone of healthy living in our community.

You can also read our articles about: - the Business Model Canvas of a fruit and vegetable store - the marketing strategy for a fruit and vegetable store

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a fruit and vegetable market and our financial plan for a fruit and vegetable market .

Initial expenses for our fruit and vegetable market include costs for securing a retail space in a high-traffic area, purchasing refrigeration units and display equipment to maintain and showcase fresh produce, obtaining necessary permits and licenses, investing in a robust inventory management system, and launching marketing initiatives to attract customers to our location.

Our revenue assumptions are based on an in-depth analysis of the local market demand for fresh, high-quality fruits and vegetables, taking into account the increasing trend towards healthy eating and organic produce.

We expect sales to grow steadily as we establish our market's reputation for offering a wide variety of fresh and locally sourced produce.

The projected income statement outlines expected revenues from the sale of fruits and vegetables, cost of goods sold (including procurement, transportation, and storage), and operating expenses (rent, marketing, salaries, utilities, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our fruit and vegetable market.

The projected balance sheet will reflect assets such as refrigeration and display equipment, inventory of fresh produce, and liabilities including any loans and operational expenses.

It will provide a snapshot of the financial condition of our market at the end of each fiscal period.

Our projected cash flow statement will detail all cash inflows from sales and outflows for expenses, helping us to predict our financial needs and ensure we have sufficient funds to operate smoothly.

The projected financing plan will outline the sources of funding we intend to tap into to cover our initial setup costs and any additional financing needs.

The working capital requirement for our market will be carefully managed to maintain adequate liquidity for day-to-day operations, such as purchasing fresh stock, managing inventory, and covering staff wages.

The break-even analysis will determine the volume of sales we need to achieve to cover all our costs and begin generating a profit, marking the point at which our market becomes financially sustainable.

Key performance indicators we will monitor include the turnover rate of our inventory, the gross margin on produce sales, the current ratio to evaluate our ability to meet short-term obligations, and the return on investment to gauge the profitability of the capital invested in our market.

These metrics will be instrumental in assessing the financial performance and overall success of our fruit and vegetable market.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a fruit and vegetable store .

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    Don't get left behind this strategic planning season. Here are five tips for purposeful planning: 1. Develop Rolling 36-Month Plans. No one can see 10 years into the future. If we go back only five years, most people wouldn't have been able to comprehend how fast the industry has changed. Moreover, most restaurant strategic planning ...

  7. How to Write a Restaurant Strategic Plan

    In sharing key ideas of the plan with others, you'll gain new ideas that will help you consistently improve. Mystery shop. By understanding what your customers see when they enter your restaurant, you'll be surprised at how quickly you are able to pinpoint areas that need improvement. Know your competition. Assess the strengths and ...

  8. 5 Restaurant Strategy Questions to Help Improve Annual Business Planning

    How to use a business plan template. A restaurant business plan template is a written document that describes in detail how your restaurant defines its objectives and how it'll go about achieving its goals. It can serve as a blueprint that outlines your entire vision, and it explains in detail how your business will take shape and operate.

  9. How to write a restaurant business plan

    1. Branded cover. Include your logo (even if it's not finalized), the date, and your name. 2. Table of contents. A table of contents in a restaurant business plan provides an organized overview of the document's structure and content.

  10. Fast Food Restaurant Strategic Plan Template

    ClickUp's Fast Food Restaurant Strategic Plan Template is designed to help you streamline your restaurant operations and achieve your business goals. Here are the main elements of this template: Custom Statuses: Keep track of the progress of each task with 5 different statuses - Cancelled, Complete, In Progress, On Hold, and To Do - to ensure ...

  11. Restaurant Owners Strategic Plan Template

    The Restaurant Owners Strategic Plan Template in ClickUp can help you map out your goals and strategies. Follow these steps to make the most of this template and set your restaurant up for success: 1. Define your vision and mission. Start by clarifying your restaurant's vision and mission.

  12. How to Write a Restaurant Business Plan

    Your restaurant business plan company overview should include: Purpose: The type of restaurant you're opening (fine dining, fast-casual, pop-up, etc.), type of food you're serving, goals you ...

  13. Restaurant Business Plan Template & Example

    The funding will be dedicated for the build-out and design of the restaurant, kitchen, bar and lounge, as well as cooking supplies and equipment, working capital, three months worth of payroll expenses and opening inventory. The breakout of the funding is below: Restaurant Build-Out and Design - $100,000. Kitchen supplies and equipment ...

  14. SWOT Analysis for Restaurants: Ultimate Guide + Examples for 2024

    Key Takeaways. SWOT analysis stands for S trengths, W eaknesses, O pportunities, and T hreats, and is a strategic tool used by restaurants to assess their internal and external factors. Strengths: These are the positive aspects of a restaurant, such as a strong brand image, loyal customer base, unique menu, excellent service, and efficient ...

  15. PDF Strategic Plan for A New Restaurant Business

    1.1. Strategy. All companies aspire to succeed, seek to achieve the objectives outlined for the short, medium and long term, and for this purpose a growth strategy must be stipulated. Associated with growth is the concept of strategy, because growth is the goal and strategy is the means to achieve that same goal.

  16. How to Write a Restaurant Marketing Plan with Any Budget(Free Template)

    Download the Free Template Now. 6. Identify your restaurant's marketing objectives. You've decided on measurable goals for your restaurant, now it's important to put together a solid list of objectives that will help you determine your own restaurant's marketing strategy and goals.

  17. Restaurant Marketing Plan: Ideas & Strategies

    Step 1: Solidify your brand. Before you begin brainstorming marketing activities, revisit your brand's mission statement, vision statement, value propositions, and positioning statement. These should already be in your business plan, but it's important to revisit them with a restaurant marketing lens.

  18. 11+ Restaurant Strategic Plan Templates in Google Docs

    11. Multipurpose Restaurant Strategic Plan. wrseta.org.za. Details. File Format. PDF. Size: 652.9 KB. Download Now. In comparison to a school strategic plan with different purposes of usage, you can also develop a multipurpose restaurant strategic plan that can be useful in a number of ways for your restaurant.

  19. Diving Deep Into Marketing for Restaurants (My Takeaways)

    An example of a restaurant that creates social-driven content is Austin-based El Arroyo. Even though El Arroyo is a Mexican restaurant, you won't find any pictures of food on its Instagram. ... Outline your company's marketing strategy in one simple, coherent plan. Pre-Sectioned Template Completely Customizable Example Prompts Professionally ...

  20. Prioritization Templates & Examples Miro

    A Tier List Template is a ranking tool that allows teams to organize different items into specific categories, or "tiers," based on their significance, quality, or performance. This template is a visual tool that aids in making decisions and prioritizing tasks. Use it to power your brainstorming, strategic meetings, and planning.

  21. MoSCoW Method Example

    Say goodbye to those "shoulda, coulda, woulda" regrets and keep your MoSCoW method agile. Tackle your tasks: Categorize every important requirement in one place—then get cracking. Manage your must-haves: Ensure everyone is on the same page about the non-negotiable aspects of your initiative. Shrink your spending: Stay within budget with task prioritization features that align with your ...

  22. What is MoSCoW Prioritization?

    MoSCoW prioritization, also known as the MoSCoW method or MoSCoW analysis, is a popular prioritization technique for managing requirements. The acronym MoSCoW represents four categories of initiatives: must-have, should-have, could-have, and won't-have, or will not have right now. Some companies also use the "W" in MoSCoW to mean "wish.".

  23. Fruit & Vegetable Store Business Plan Example (Free)

    A free example of business plan for a fruit and vegetable store. Here, we will provide a concise and illustrative example of a business plan for a specific project. This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary.