opening a bar restaurant business plan

How to Write a Winning Restaurant and Bar Business Plan (+ Template)

Creating a business plan is essential for any business, but it can be beneficial for restaurants and bar s that want to improve their strategy or raise funding.

A well-crafted business plan outlines your company’s vision and documents a step-by-step roadmap of how you will accomplish it. To create an effective business plan, you must first understand the components essential to its success.

This article provides an overview of the key elements that every restaurant and bar owner should include in their business plan.

Download the Ultimate Bar Business Plan Template

What is a restaurant and bar business plan.

A restaurant and bar business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will succeed, your areas of competitive advantage, and information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Restaurant and Bar Business Plan?

A restaurant and bar business plan is required for banks and investors. The document is a clear and concise guide to your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Restaurant and Bar Business Plan

The following are the critical components of a successful restaurant and bar business plan:

Executive Summary

The executive summary of a restaurant and bar business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your restaurant and bar  
• Provide a summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast, among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started and provide a timeline of milestones your company has achieved.

You may not have a long company history if you are just starting your restaurant and bar. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your restaurant and bar company, mention this.

You will also include information about your chosen restaurant and bar business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a restaurant and bar business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the restaurant and bar industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support your company’s success)?

You should also include sources for your information, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a restaurant and bar business’ customers may include office workers who are looking for a place to have after-work drinks or families who are looking for a kid-friendly restaurant for dinner. 

You can include information about how your customers decide to buy from you and what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or restaurant and bar services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will differ from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, or launch a direct mail campaign. Or you may promote your restaurant and bar business via word-of-mouth or by partnering with another business.

Operations Plan

This part of your restaurant and bar business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

You also need to include your company’s business policies in the operations plan. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, your Operations Plan will outline the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. 

Examples of milestones for a restaurant and bar include reaching $X in sales. Other examples include expanding to a second location or launching a new menu.

Management Team

List your team members here, including their names and titles, as well as their expertise and experience relevant to your establishment. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here, you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs and the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Restaurant and Bar

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : Everything you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Restaurant and Bar

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup restaurant and bar .

Sample Cash Flow Statement for a Startup Restaurant and Bar

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and grow your restaurant and bar . It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written restaurant and bar business plan is a must for any business owner. It’s a great tool for attracting investors and keeping the company focused.  

Finish Your Bar and Restaurant Business Plan in 1 Day!

How to Write a Restaurant Business Plan (+ Examples)

Learn how to create a restaurant business plan with the best format that outlines your concept, and financials. Get examples and templates to get started.

10 minute read

helped business professionals at:

Short answer

What is a business plan for a restaurant?

A business plan for a restaurant is a document that outlines the restaurant's concept, strategies, and financial forecasts. It serves as a roadmap for launching and growing the establishment successfully.

Don't just focus on profit margins, ensure your business plan is well-presented

In the competitive world of the restaurant industry, where low-profit margins are a well-known hurdle, there emerges a critical, yet often overlooked, factor pivotal to success: the design of the business plan.

As we enter 2024, it's becoming increasingly clear that the traditional overlook of business plan design can no longer be afforded.

This isn't just about financial projections or market analysis; it's about crafting a blueprint that encapsulates the essence of your restaurant, compellingly communicates its value, and sets a solid foundation for growth.

By focusing on the design of your business plan, you stand to gain not just the attention of potential investors but also a clearer roadmap to navigate the challenges ahead.

What makes an effective business plan?

Embarking on the restaurant business journey requires more than just a passion for food-it demands a comprehensive plan that lays out every aspect of your venture with precision and foresight.

Let's delve into what constitutes an effective restaurant business plan, ensuring it's not just another document, but a roadmap to success.

6 key components of a winning restaurant business plan:

1. Vision and concept clarity

Start with a crystal-clear articulation of your restaurant's concept. Whether it's a cozy vegan cafe or a high-end steakhouse, the essence of your establishment should leap off the page.

This clarity helps potential investors and partners instantly grasp what you're aiming to create.

Beyond the concept, delineate your restaurant's values, mission, and the unique selling points that set you apart in a crowded market.

2. Comprehensive market analysis

A deep dive into market analysis cannot be overstated. Here, you're not just identifying who your customers are but also understanding the competitive landscape.

What are the prevailing trends in the dining sector? Who are your direct and indirect competitors, and how do you plan to differentiate yourself? This section should reflect a meticulous research process, showcasing insights that guide your strategy.

3. Robust financial planning

In any successful business plan, sound financial management is key.

Essential elements include:

Realistic financial projections: Your forecasts should be realistic, and built on data-backed assumptions.

Detailed profit and loss forecasts

Cash flow predictions

Break-even analysis

Contingency planning: Preparing for unforeseen challenges is crucial.

Develop a well-thought-out contingency plan to navigate the industry's unpredictable nature.

Identify potential risks and solutions, including supplier issues, staffing shortages, and changes in consumer behavior, to ensure business resilience.

4. Operational strategies

Operational excellence underpins a restaurant's success. Detail your plans for day-to-day operations, from sourcing ingredients to managing inventory and staffing.

Highlight your commitment to quality and efficiency in every aspect of the operation, from the kitchen to customer service.

Also, outline the technology, such as restaurant POS systems you'll implement to streamline processes and enhance the dining experience.

5. Marketing and branding

In today's digital age, a savvy marketing and branding strategy is crucial.

Describe how you'll create a strong brand identity and the channels you'll use to reach your target audience.

From social media campaigns to community engagement initiatives, your plan should reflect a keen understanding of how to connect with potential customers and build a loyal following.

Discover how to create a marketing deck to align your strategy with your business objectives, target audience needs, and market trends.

6. Customer experience focus

Exceptional customer service is the lifeblood of any successful restaurant. Detail the steps you'll take to ensure every guest feels valued and satisfied.

From the ambiance and menu design to staff training programs, every element should contribute to a memorable dining experience.

Feedback mechanisms and how you'll adapt to customer preferences are also vital components of this section.

What should be included in a restaurant business plan?

Creating a restaurant business plan is a foundational step toward launching a successful dining establishment.

It outlines your vision, strategy, and the specific actions you plan to take to make your restaurant a success.

Below, we break down the essential components that should be included in your restaurant business plan, ensuring clarity, comprehensiveness, and appeal to potential investors.

8 essential sections of a restaurant business plan:

1. Executive summary

A compelling overview of the restaurant, showcasing its unique concept, mission, and strategic objectives that guide its operations.

Overview: Present a succinct snapshot of your restaurant, including its concept, mission, key goals, and ownership structure.

Purpose: Highlight what you aim to achieve with the restaurant and the appeal it has to potential investors or lenders.

2. Business description

An in-depth look at the restaurant's theme, location, and how these elements combine to create a distinctive dining experience.

Concept and theme: Describe the unique aspects of your restaurant's concept, from the cuisine and menu items to the design and ambiance.

Location analysis: Analyze the chosen location, discussing demographics, foot traffic, and how these factors make it an ideal spot for your target market.

3. Market analysis

An insightful examination of dining trends, target demographics, and customer needs to inform strategic positioning.

Trends: Examine current trends in the dining industry and how they influence your restaurant's positioning.

Target demographic: Identify your target customers, detailing their preferences, dining habits, and how your restaurant will meet their needs.

Needs and preferences: Focus on understanding and catering to what your target market seeks in a dining experience.

4. Competitive analysis

A detailed evaluation of competitors, focusing on differentiation and strategies for establishing a market edge.

Competitors: List direct and indirect competitors, analyzing their strengths, weaknesses, and how you'll differentiate your restaurant.

Differentiation: Explain the unique selling points that will set your restaurant apart in the competitive landscape.

5. Menu and product offering

Overview of menu design, ingredient sourcing, and special services that enhance the restaurant's appeal.

Menu design: Discuss the inspiration behind your menu, including how it reflects the theme and caters to your target demographic. Outline your pricing strategy and item selection.

Sourcing and suppliers: Detail your approach to sourcing high-quality ingredients, including partnerships with local suppliers and commitments to sustainability.

Special offerings: Highlight any additional services your restaurant offers, such as catering, special events, or exclusive seasonal menus, to draw in a wider audience and generate extra revenue.

6. Marketing and sales strategy

A summary of branding efforts, promotional tactics, and sales projections designed to attract and retain customers.

Branding: Detail your restaurant's brand identity, including name, logo, and how it communicates your restaurant's values and mission.

Marketing tactics: Outline the strategies you will employ to attract and retain customers, such as social media marketing, local advertising, partnerships, and loyalty programs.

Sales forecasts: Provide realistic sales forecasts, explaining the rationale behind these projections and how you plan to achieve them.

7. Operating plan

Description of daily operations, facility management, and health safety protocols to ensure smooth and compliant restaurant functionality.

Daily operations: Describe the operational flow of the restaurant, including hours of operation, staffing requirements, and customer service policies.

Facility management: Discuss the layout and design of your restaurant, kitchen equipment needs, and any other facility-related details that will ensure efficient operation.

Health and safety: Outline the health and safety measures you will implement to comply with local regulations and ensure the well-being of both employees and guests.

8. Management and organization

An outline of the restaurant's organizational structure, key personnel, and staffing strategies for operational excellence.

Ownership structure: Specify the ownership structure of the restaurant, including key stakeholders and their roles.

Team composition: Introduce the management team, chefs, and other critical staff, highlighting their experience and how it contributes to the restaurant's success.

Staffing plans: Discuss your plans for hiring staff, including numbers, positions, and the qualities you seek in employees to maintain high standards of service.

How to create a business plan for a restaurant?

Creating a standout business plan for your restaurant involves focusing on key components that blend your vision with practical strategies.

6 actionable steps to distill your restaurant business plan:

Define your concept clearly: Begin by articulating your restaurant's concept, ambiance, and what sets it apart. This clarity lays the groundwork for the entire business plan.

Conduct thorough market analysis: Dive deep into your target market and competitors. This research will guide your menu design, pricing strategy, and marketing efforts, ensuring you carve out a unique space in the marketplace.

Craft a compelling menu: Ensure your menu reflects your brand identity and appeals to your target audience, all while considering cost-effectiveness and supply chain realities. Aim for a balance between innovation and simplicity.

Develop realistic financial projections: Detail initial costs, revenue expectations, and a break-even point. Importantly, predict potential hurdles with ready contingency plans.

Outline operational strategies: Describe your daily management approach, including sourcing, staffing, and customer service. Efficient operations are crucial for a seamless experience and streamlined processes.

Implement strategic marketing: Choose the most effective ways to connect with your audience. Building a strong brand narrative and engaging actively with customers can help turn first-time visitors into regulars.

7 restaurant business plan examples for winning partners and investors

When it comes to crafting a business plan for a restaurant, the type of establishment you're planning significantly influences the structure and content of the document.

Each kind of restaurant from fast-casual and fine dining to food trucks and bistros-caters to different market segments and operational models.

Here's a look at how these differences manifest in their respective business plans:

1) Fine dining restaurant business plan

Market focus: Targets higher-income clientele seeking a premium dining experience. The plan should highlight exceptional service, high-quality ingredients, and unique culinary offerings.

Operational model: Detailed attention to the ambiance, chef expertise, and a higher staff-to-guest ratio. Wine lists and bar offerings also play a significant role.

Financial projections: Emphasizes higher check averages with a focus on profitability per guest rather than volume. The cost structure will detail higher initial investment in decor, kitchen equipment, and inventory.

Here’s an example of a fine-dining restaurant business plan:

2) Bar restaurant business plan

Market focus: Targets a diverse clientele, from young professionals to social groups, seeking a blend of dining and socializing.

Operational model: Balances innovative cuisine with an extensive beverage selection in a space designed for both eating and lounging, including live entertainment options.

Financial projections: Outlines dual revenue streams from food and drinks, emphasizing beverage sales' higher profit margins and detailing licensing, entertainment, and insurance costs.

Here’s an example of a bar restaurant pitch deck:

3) Bistro restaurant business plan

Market focus: Caters to locals and tourists seeking a casual yet refined dining experience, positioning itself as a cozy neighborhood spot.

Operational model: Highlights a selective menu that adapts seasonally, emphasizing a warm ambiance and personal service.

Financial projections: Projects moderate earnings with a strong local following, noting initial investments in location and ambiance to create a distinctive setting.

Here’s an example of a bistro restaurant pitch deck:

4) Food truck business plan

Market focus: Appeals to urban professionals, millennials, and foodies looking for unique, high-quality food options on the go.

Operational model: Mobility is key. The plan must address location strategy, permits and regulations, and adaptability to different events and seasons.

Financial projections: Lower startup costs compared to brick-and-mortar establishments but include considerations for vehicle maintenance, fuel, and parking permits.

5) Coffee restaurant business plan

Market focus: Appeals to a varied audience with a unique theme or specialty cuisine, standing out from conventional coffee shops.

Operational model: Details the influence of theme or cuisine on menu design, decor, and guest experience, aiming to make the restaurant a destination.

Financial projections: Anticipates varied financial outcomes based on concept uniqueness, with thorough market research guiding pricing and marketing strategies.

6) Italian, Mexican, Asian, etc., cuisine restaurant business plan

Market focus: Focuses on providing authentic dining experiences to both expatriates and locals interested in specific cuisines.

Operational model: Requires sourcing authentic ingredients and skilled chefs familiar with the cuisine. The business plan should address menu authenticity, culinary training, and potential partnerships for ingredient import.

Financial projections: Depending on the positioning (casual vs. fine dining), financials would reflect the cost of unique ingredients and the expected dining experience level.

Here’s an example of an Italian restaurant business plan proposal:

7) Fast food restaurant business plan

Market focus: These plans emphasize speed, efficiency, and affordability. The target market typically includes busy professionals, families looking for convenient meal options, and younger demographics.

Operational model: The business plan must detail quick service operations, including streamlined kitchen layouts, supply chain logistics for fast-moving inventory, and technology for order taking (e.g., apps, and kiosks).

Financial projections: Focus on volume sales, low to moderate check averages, and strategies for high turnover rates.

How to design a restaurant business plan?

Designing a restaurant business plan is much like crafting a compelling game pitch deck, it's all about presenting your concept in a way that's as irresistible as the dining experience you're proposing.

8 restaurant business plan design tips:

1. Embrace scrollytelling

Use narrative scrolling to take your audience through the journey of your restaurant's concept, from the inspiration behind your dishes to the ambiance you plan to create.

This dynamic presentation style keeps readers engaged, turning your business plan into an immersive experience.

Here's an example of scroll-based design:

2. Incorporate interactivity and multimedia

Go beyond static pages by embedding interactive elements like sample menu walkthroughs, virtual tours of the restaurant layout, or clips from cooking demos.

These elements not only highlight your restaurant's unique offerings but also keep potential investors or partners engaged throughout your presentation.

And here's what a static presentation looks like compared to an interactive one:

Static PowerPoint

Interactive Storydoc

3. Use data visualization

Present market research, target demographics, and financial projections through clear, compelling visuals.

Transform complex data into easy-to-understand graphs, charts, and infographics, making your business strategy both visually appealing and straightforward to grasp.

Here's an example of a presentation with dataviz elements:

4. Personalize your deck

Leverage software that allows for customization, such as incorporating the viewer's name or tailoring content to specific investor interests.

A personalized approach demonstrates meticulous attention to detail and can forge a stronger connection with your audience.

5. Use cohesive branding

Ensure your business plan reflects your restaurant's identity through consistent use of colors, fonts, and imagery that align with your branding.

This not only enhances the visual appeal of your plan but also immerses your audience in the atmosphere you aim to create.

6. Ensure mobile-responsive

Given the variety of devices stakeholders might use to view your plan, ensuring a mobile-responsive design is essential.

This ensures that your business plan is accessible and engaging, whether it's being viewed on a smartphone or a desktop computer.

7. Highlight key information

Design your business plan to draw attention to critical information.

Techniques such as strategic content placement and highlighting can guide the reader's focus, ensuring that essential points stand out without overwhelming the viewer with too much information at once.

8. Segment content in tabs

Organize your business plan into sections or tabs that cater to different aspects of your restaurant concept and business strategy.

This not only makes your plan more navigable but also allows readers to easily find the information most relevant to their interests or concerns.

Here's an example of a tabs slide:

Restaurant business plan templates

Kicking off your restaurant business plan is a daunting task, especially when you aim to capture the essence of your dining concept in a document.

Interactive restaurant business plan templates are designed to simplify this process. They provide a structured framework that incorporates interactive and multimedia elements, essential for presenting your restaurant in a vibrant and dynamic manner.

These templates not only save you precious time but also guarantee that your business plan conveys a polished and compelling story.

Snag one today!

I am a Marketing Specialist at Storydoc, I research, analyze and write on our core topics of business presentations, sales, and fundraising. I love talking to clients about their successes and failures so I can get a rounded understanding of their world.

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Opening a Bar & Restaurant?

How to write a bar & restaurant business plan (fast), step by step (actionable) case study.

Opening a bar and restaurant is an amazing adventure for any up-and-coming entrepreneur – and writing a business plan is one of the very first (and most important!) steps.

Wondering how to go about it? No need to look any further.

Our Bar & Restaurant business plan sample will help you map out your journey, as well as identifying and addressing any potential pitfalls that could cause problems for your business.

So whether you need funding or would simply like a track to run on…

Be sure to check out this example to improve your chances of Business Success!

Ready? Let’s go.

#1 Executive Summary for a Restaurant Business Plan

Are you looking to write a restaurant business plan? If so, let’s firstly look at The Executive Summary section.

The Executive Summary of your business plan outlines what your business does. It’s an overview of your business and summarizes all its key points, as well as being an introduction for the rest of your plan.

The example in this section can be suitable for the following:

• Small Restaurant business plan
• Bar business plan
• Cocktail Bar business plan
• Fast Food Restaurant business plan

Please check it out and feel free to lift any content.

Executive Summary

The #Executive #Summary outlines what your business does, summarizes your key points, and prepares investors for the rest of your #businessplan. It’s vital you provide a solid case for your business idea, which is why your #executive #summary is so important! Tweet

We are John and Mary Smith, a father and daughter team, offering years of experience in both business ownership and management, and the hospitality trade.

John Smith is currently a Director of an electrical contractors in Washington, and has been in the industry for 30 years. Currently working in the aerospace sector, John delivers the highest standard of workmanship for his clients, and offers a wide range of transferable skills including staff management, decision making, building strong business partnerships, and negotiation skills.

John will be supported by his eldest daughter Mary, a confident and outgoing people-persons with years of experience in the bar and restaurant industry. She offers a wealth of knowledge in hospitality and bar management, and would be very much at home running her own bar and restaurant.

What We Sell

We will be selling a wide range of soft drinks and alcoholic beverages in partnership with ABC PLC. The wet list will be based on the current ABC listings, and we would also like to expand the wine list in accordance with ABC Code of Practice.

The dry menu, which is currently of a very high standard, will be based on local and seasonal produce and created in direct association with the Head Chef.

We will also run a number of promotions to push more from our wet and dry menus, and these promotions will also run in accordance with ABC Code of Practice.

Who We Sell To

We will sell to local residents and also people visiting the area. We want to create a warm and friendly atmosphere, and to leave our customers feeling totally satisfied with our service whether they pop in for a pint or a coffee, or stay with us all evening for a meal and drinks. We can only achieve this by employing and developing the right team, and we will focus our efforts on hiring experienced, friendly, professional and enthusiastic staff. From our Head Chef down to our team of waiting staff and bar staff, we will ensure we only hire the best the local area has to offer.

In addition to retaining existing regular customers, we recognize the importance of attracting new customers, and we will look into what is currently working for the business, and what isn’t working so well. With this knowledge and information, we can look into promotions and improvements that will encourage more visitors, whether they are locals or passing trade.

Financial Summary

Please see financial plan for further information.

#2 Restaurant Business Plan Company Profile Section

The Company Profile in this restaurant business plan sample is also known as the Company Description. If written well, your potential investors will find it easy to understand your business model, your mission and goals and how it’s going to meet the needs of your target market.

For the purpose of this bar business plan, we’ve included the following in the Company Profile Section:

• Company Overview & Management Team

Mission Statement

• Location and Facilities

Company History

Company overview.

The Hugo’s Bar and Restaurant has been in business for years, and is an established bar and restaurant offering a wide range of beverages and a fine selection of hot and cold meals.

The main company address is Main Road, Washington USA

This is not a new business, but we would be taking over as new managers of the establishment. The bar and restaurant is owned by ABC PLC and would be offered to us under a five year tenancy, with the opportunity to renew this lease after expiry.

Under such an agreement we – the tenants – will pay the rent and be responsible for the day-to-day management of the bar and restaurant. This will include such things as:

• Bookkeeping and accounting
• Managing stock
• Taking responsibility for minor repairs
• Maintaining fixtures and fittings

Management Team

The management team consists of John Smith and Mary Smith, a father and daughter team. John Smith has years of experience as a Director for an electrical contractor, and is very experienced in staff management, business management, key decision making, negotiations with suppliers and partners and achieving results.

Mary Smith brings a wealth of bar and restaurant and bar management experience, and is keen to continue with the success the bar and restaurant has experienced already, whilst also making significant improvements where necessary.

We will look to recruit where required. It is essential that we have a first class Head Chef employed at all times to oversee our menu, and ensure that meals are produced to the very highest standard and that all ingredients are sourced locally where possible. We will employ a mixture of full-time and part-time staff.

Locations and Facilities

The Hugo’s Bar and Restaurant is situated at Main Road Washington USA

Our mission is to sell delicious and remarkable food and drinks to our customers. We will ensure that the food and drink we sell meets the highest possible standards of quality, freshness and seasonality and that it is sourced from local producers where possible. We want our customers to experience impeccable service at all times, and we will ensure that our staff demonstrate warmth, efficiency, integrity and knowledge at all times, and that every customer leaves happy.

A #mission #statement is a short statement of an organization's purpose and shows the goal of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation. Tweet

The bar and restaurant has been trading in the same location for a number of years, and offers a wide range of beverages and hot and cold foods to its clientele. Now run by ABC PLC, the establishment has been leased by a number of landlords, and now commands good reviews and a good following in the local region.

#3 Restaurant Business Plan Products & Services Section

The Products and Services section in this restaurant business plan example is showcasing the value and quality of their products and services.

For any start up bar business plan, it’s important to write down what it is that sets you apart from your competitors and the benefits of your business.

Ask yourself:

• What sets you apart from your competitors?
• How does your pricing compare?
• Why would people buy from you as opposed to your competitors?

Here’s the example.

Products and Services

The Hugo’s Bar and Restaurant is a family bar and restaurant offering a warm welcome, a wide selection of beverages, and an excellent menu. It is very popular with locals and has received very good reviews on TripAdvisor. The wet list features ABC fine cask beers, wines, spirits, cocktails, soft drinks and a coffee menu. We would also be interested in adding more wines to the menu, perhaps featuring a wine of the month, or wines from a particular region each month to keep the menu interesting.

In addition to the usual bar and restaurant fayre, we would also look to introduce the following services and events:

• A lunch club once a week for elderly people within the region.
• A dedicated kids menu. We could offer discounted kids meals one afternoon a week to encourage parents to visit us with their children after school.
• A dedicated gluten-free menu. There were a few comments on TripAdvisor about there not being a good gluten free selection. This is becoming more important to clientele.
• More theme nights such as steak & wine nights. We would also look into doing beer & cheese nights. This is something that has just started to take off, and would be a great way to introduce people to the cask beers on offer alongside local cheeses.
• Events such as coffee mornings welcoming people from the community, especially new people looking for a place to meet with locals, or get to know us better.

We would also look into adding or updating fruit machines and a jukebox, as well as increasing food service hours, and perhaps looking into serving a small breakfast menu.

Competitors

There are a number of bar and restaurants in the region we would be competing directly with. Some of the most popular bar and restaurants in the area include:

• Happy Restaurant
• Washington Arms

These bar and restaurants have good reviews. Happy Restaurant is famed for its real ales and homemade pork pies. The Arms is popular with sports crowds and offers good beer and a welcoming, busy atmosphere. Washington Arms offers a good selection of beers, and cheap homestyle food.

We want to be able to cater to more families looking for excellent food in a warm and welcoming atmosphere. We want to offer a busy and lively atmosphere in the evenings and to attract locals and passing trade. We also feel our dry menu offers so much more than other offerings in the local area, and we really want to focus on increasing profits in this area, and to look into ways to attract our customers to have a meal with us.

Product & Service Development

We would love to develop the products, services and events on offer, and to do this in line with the ABC Code of Practice. As the saying goes ‘if it ain’t broke don’t fix it’ and so we would look at the aspects of the business that are working well, and only make improvements where necessary. We also want to stay away from adding too many gimmicks as this can be a bar and restaurant’s downfall. We believe clientele like regular events so they know what is happening and when, and this works very well with the XYZ brand which offers Curry Clubs, Lunch Clubs and other options on set days of the week.

We also want to appeal more to families during the day. One idea we have is to add a marquee outside, and to build a pizza oven so that we can hold kids’ pizza parties and other events outside. Parents are always looking for something different for their kids to do, and this could be a very lucrative revenue stream for the bar and restaurant. Parents may also stay to have a meal or drinks while the little ones enjoy the party.

We may also look into offer a set kids menu as seen in other establishments. Children could choose a main meal, dessert and a drink for around $4.95, and also be given coloring pencils and a picture to color in. This not only keeps the kids entertained, but also encourages adults to stay longer and purchase more items from wet and dry menus. We would also promote our birthday parties on the back of the coloring in page.

Sourcing and Fulfillment

All wet products will be sourced and supplied by ABC PLC as per our agreement with the brewery. Equipment such as cellar cooling and drinks dispensers are maintained by ABC. We would look to secure good deals for local produce for our dry menu, and will leave this responsibility to our Head Chef.

Pathway and Lease Agreements are fully tied for all beers, ciders, stout, wines, spirits, soft drinks, packaged alcoholic drinks and gaming machines, including Amusement with Prize Machines (AWP), Skill with Prize Machines (SWP), pool tables and video/LCD based non-payout leisure machines.

Not applicable to this business.

Intellectual Property

Not applicable to this business. The products we sell will already have the relevant trademarks and licenses in place.

#4 Opening a Restaurant Business Plan Situation & Market Analysis Section

This section of a business plan is very often glossed over because more often than not, the business owner is so involved within their business, that it doesn’t occur to them that they can learn something by writing this down!

This section is one of the most important aspects of your Bar & Restaurant marketing plan.

In fact, it defines where you are currently in terms of your market, product, customer, and competition. It also allows you to look at both internal and external factors and to review and document the strengths and weaknesses of your business, as well as identifying any opportunities and threats within your marketplace.

For example:

• Market Analysis & Trends

Market Growth

Industry analysis, key customers, target market, market overview.

Our target market will consist of local customers already regulars at the establishment, new local customers, people visiting the area, and passing trade. The Hugo’s Bar and Restaurant already has a good reputation in the area for a good atmosphere and great food, and we certainly would not want to change that!

However, we do believe there is room for improvement and that these improvements would attract new customer streams to the bar and restaurant. If we could extend the restaurant opening hours for example, we could improve profits across the wet and dry menus, and also upsell items such as good wines. We would also want to welcome more children and parents to the bar and restaurant, and will look into ways we can do this.

Market Needs

The Hugo’s Bar and Restaurant offers some amazing attributes to the area. Its warm and welcoming atmosphere and good food are very well documented on TripAdvisor.

We will offer a wide range of products under one roof including alcohol, soft drinks, coffee and good food. People can come to us in the afternoon for drinks and stay with us through dinner and up until closing time if they wish. We want to encourage this kind of home from home experience and encourage people to enjoy as many of our products and services as possible.

The Hugo’s Bar and Restaurant always serves good food and drink and is our favorite place to eat in the local area. If you haven’t tried the Hugo’s Bar and Restaurant, it’s a must for 2016. – Vivien S (TripAdvisor)

For most of the evening, we had the dining room to ourselves which was lovely. The staff were friendly and left us alone unless we needed them. I really liked the fact that there was a limited menu. This way I know all the food prepared is fresh. – Emily C (TripAdvisor)

However, there is room for improvement. There are a number of negative comments on TripAdvisor regarding the limited range of food on offer for children, and there have also been misunderstandings in the past about gluten-free options. We would do more to ensure our customers are catered to and made to feel totally comfortable in our surroundings and with our menu.

We would also look at adding services that cannot be found elsewhere. For example, our plan is to offer kids’ parties outside in a marquee. By adding a pizza oven outdoors, we can capture a section of the market that is growing with a relatively cost-effective idea. This will also attract more wet menu sales from parents and carers who want to stay with us while the party is going on.

Market Trends

The great American night out has always featured the bar and restaurant. Whether it is at the start of the night for a few drinks before dinner or going on to a nightclub, or patrons spend their entire night in the same establishment, this timeless trend shows no sign in stopping or even slowing down. However, with more bar and restaurants springing up, and more bar and restaurants using innovative ways to attract patrons, we would need to stay on our toes. By offering a mix of traditional bar and restaurant fayre and services, and also looking at new ways of attracting customers, we will remain competitive and maintain the already good reputation.

Craft beers and cask ales are becoming more and more popular. People are open to trying new experiences, and would look at ways we can promote beer sales with special events. Beer and cheese evenings are starting to gain popularity with patrons being offered a cheeseboard and smaller taster glasses of beer. This is just one idea, but an example of how important it is to keep up to date with market needs and trends.

We may also look into ways in which we could encourage people to have their “big night in” at the bar and restaurant instead of at home. People settle down at home for shows such as X-Factor, Americas Got Talent, and other big TV events. We could possibly create a living room atmosphere and encourage people to come to us instead. This sort of event could get people talking to each other, enjoying themselves in our establishment, and ultimately ordering more drinks.

During the past decade, a series of legislative, social and economic trends have conspired to squeeze industry revenue and profit margins, forcing many bar and restaurants out of business. Already reeling from the ban on smoking in bar and restaurant places, patronage and industry revenue have been battered by rising beer duty, declining alcohol consumption, competition from low supermarket alcohol prices and the prolonged economic downturn.

Whilst it can be difficult for new bar and restaurants to enter the market, established bar and restaurants with regular visitors, a good reputation and willing to keep up with the latest trends and customer demands, can continue to thrive. This is why it is so important for us to review where the Hugo’s Bar and Restaurant is doing well, and to focus our efforts on areas that need improving or to introduce new events or services that would bring in new sustainable revenue streams.

We will be working in the hospitality industry, offering good food and drinks to our customers in a warm, friendly and welcoming atmosphere. Our services and products will be sold directly to customers within our establishment, and promoted across a number of different channels.

Customers often make their buying decisions based on price and personal preference. In addition to drinks purchased direct from the bar, we will also offer drinks within our restaurant, and this is where we may have the best opportunity to push some of our higher priced items such as wines and also pre-dinner cocktails. Reputation is also important, and the ABC name is well known amongst cask ale lovers.

Our key customers will consist of people of all age groups, from 0-100 years old. We want to promote a real family-friendly atmosphere, and to encourage people of all ages, all walks of life, and all areas to come to our bar and restaurant. We want to promote a real community spirit that unites people, starts conversations, offers customers a great day out or a memorable night out, and which also encourages customers to share their experience with others.

#5 Small Restaurant Business Plan Marketing Strategy Section

The marketing strategy section of your business plan describes who your customers are going to be and how you plan to communicate to them the services or goods you are offering.

If your potential customers are not made aware of your business, you are not going to stay in business for very long!

Defining a marketing strategy in your business plan highlights your understanding and knowledge and emphasizes what makes your business concept compelling. It also outlines how you plan to attract and maintain a customer/client base.

• How are you planning to advertise to your market?
• What is your competitive edge?
• What is your sales strategy?
• SWOT analysis.

Let’s look at this example for a restaurant business plan.

Define a marketing strategy within your business plan to highlight your expertise and emphasize what makes your business concept compelling. Tweet

Strategy and Implementation

There is a need for a good local bar and restaurant in every town, somewhere people can come together to share good times, celebrate, relax at the end of a long day and generally socialize with friends, family and other locals. The Hugo’s Bar and Restaurant is a small bar and restaurant, but is very big on character and reputation, and we would want to keep it that way.

We believe there is room in the market for many different establishments, but we do need to ensure that we stand out. Through good advertising locally and nationally, we can ensure our name stays on the map, and that we maintain the reputation the bar and restaurant has achieved already.

Good quality cask beers, a wide range of beverages, excellent food, a welcoming atmosphere, exciting promotions, regular events and a family feel are all qualities we feel are important to the bar and restaurant and its customers.

Our marketing plan would include improving the website, using social media channels more effectively, using print advertising for our promotions and events and also encouraging word of mouth recommendations and online reviews. We feel there is a lot of room for improvement where marketing is concerned. For example, the Twitter feed has not been updated since February 2nd.

Please see the latest ABC wet list pricing. The bar and restaurant currently offers a set menu for its guests at lunchtime, and an à la carte menu during the evening. These are all priced at very competitive rates.

We would like to offer our customers discounts, especially regular customers. We will offer these discounts through a discount card, and also through fun promotions on our social media channels.

We intend to use digital marketing and print marketing to its full potential. Through regular updates to Twitter, Facebook and our website, we can start to attract more attention, and ultimately attract more people through the door.

There is currently a website, but we feel it is very lacking in terms of up to date information. For example, there is a sample food menu listed, but we feel there could be more details here and some good quality photos to show potential customers how good our food is. There are also no event listings or any information about promotions or other messages that could attract customers. We would also like to attract more customers celebrating a special event. For example, we could give the birthday boy or girl a free pint or glass of prosecco, or a free dessert. We want the Hugo’s Bar and Restaurant to be their first choice whenever they have something special to celebrate.

We would like to use social media to advertise promotions. There will be regular quiet times during the week, and we would like to encourage more footfall by offering discounts through Twitter and Facebook. For example, we can give a 10-15% discount to any customer that quotes a phrase we have posted on our social media channels.

We also want to promote the Hugo’s Bar and Restaurant as a true community bar and restaurant, and we will look into charity promotions and other events where we can put something good back into the community. Whether it is giving a local charity somewhere to hold an event, or holding a special lunch club for elderly local residents, we want to portray a caring and welcoming image.

Distribution

We will sell directly through the bar and restaurant. We will also offer birthday party packages.

We would be taking over an already established business. Before taking over, we would want to have a set plan of action in place for any improvements we would like to make. For example, we would like to have seasonal lunch and dinner menus devised in advance so that we can publish these on our website and through our social media channels. We would also like to have set out our regular events and promotions and to have advertising arranged for each of these events so that we can get the word out in advance of each event taking place.

It is also important that we are accepted as the new management team, and therefore any changes we make will need to be handled carefully and in a sympathetic way. We want to listen to our customers, and through face to face conversation and activity on our social media accounts, we can obtain feedback on what our customers would like to see. This feedback will also have an impact on our milestones.

Training of key members of staff is also essential and we would work closely with ABC to establish a training schedule in accordance with their Code of Practice. Both John and Mary already have a Personal License in place.

In summary, we would look at employng good quality staff including a Head Chef, increasing food availability times, improving sales and profits and establishing ourselves as one of the leading bar and restaurants in the community.

SWOT Analysis

The Hugo’s Bar and Restaurant is in a very strong position as a popular bar and restaurant in the heart of the community, and is well established. It is especially well known for its excellent food and drink menus, and for its large garden during the summer months. The exterior of the bar and restaurant is attractive and welcoming, and offers a clean and modern look and good kerb appeal. There are also good parking facilities.

The bar and restaurant is also known for its excellent staff and service, and this is apparent on TripAdvisor and other review sites. We would work hard to maintain this level of service, and to make improvements where possible.

As with any business, there is always room for improvement. We feel there are a number of areas that we could work on immediately, and which would take minimal focused effort to achieve and improve.

We would first turn our attention to the food menus, offering a good set price kids menu, and also gluten-free options on a separate menu. We would also review gluten-free food prep in the kitchen, ensuring we have a separate fryer for chips and other foods that need to be cooked separately.

Food service times are currently too short, and we feel the bar and restaurant is missing out on profits during these times.

The bar and restaurant is currently closed on Monday, and this is an entire day where the bar and restaurant is missing out on local trade and trade from people visiting the area.

The patio area is not currently used to its full potential, and we would like to improve this area to make it more appealing and more suitable for a range of uses.

Social media channels are not being updated. The last Twitter update was almost six months ago, and this is a big area we would like to address. The website also needs attention.

Opportunities

There are many opportunities for improvement. In addition to the improvements we have already listed, we would like to focus on seasonal opportunities such as Christmas, New Year and Mother’s Day and advertise these events and promotions well so that we achieve maximum covers in the restaurant and excellent profits from our wet menu.

There is a real opportunity for us to appeal to more groups of customers, and to open up new revenue streams. For example, our aim is to have at least one kid’s birthday party booked every weekend, and to have more parents popping with their kids after school. There are also opportunities for us to improve our food menu, to make it more available during the week, and to publicise our menu and any special offers across our website and social media.

We also want to welcome our more elderly residents, and give them somewhere to visit on a weekly or monthly basis for a warm meal and a friendly atmosphere.

It is essential that we maintain the Hugo’s Bar and Restaurant’s already excellent reputation, and that we make improvements carefully and in the right way. One bad TripAdvisor review could be very damaging, so we will do everything in our power to attract the best reviews and word of mouth recommendations. Any failures in service will be dealt with immediately, and any poor reviews replied to and addressed in the best way possible, offering compensation where necessary.

We also need to ensure we keep an eye on our competition and what they are doing. Our tie-in with ABC is also critical to our operations, and so we would ensure that we work in accordance with the Code of Practice at all times.

Staff retention is extremely important to the establishment, especially in terms of more skilled staff such as the Head Chef. We would ensure we offer an attractive remuneration package, and that we keep our team motivated to the point where they wouldn’t want to work anywhere else.

Competitive Edge

We are competing against a number of similar establishments in the local area. The most popular bar and restaurants in the region offer excellent services, but we are in a very strong position to compete. For example, some are more well known for a lively sports crowd, and well-placed near to public transport links where there is good footfall from visitors.

We want to be the warm, friendly and inviting bar and restaurant where everybody is welcome. We offer a range of good quality beverages backed by the outstanding ABC brand, and we offer a fresh, seasonal and local menu cooked and presented to perfection. Customer service will also be extremely high, and customers will want to come back to us time and time again.

We believe we can stand out with our reputation, our promotional activities and also our innovative options such as kids’ pizza parties, beer and cheese nights and other events that are not available elsewhere.

Promotional Activity

In addition to our website and social media channels, we will also advertise in local newspapers, outside the bar and restaurant, at point of sale and on our restaurant and bar tables. We will track the success of our promotional activity through social media promotions, and also through print promotions. For example, some promotions may require a special code to be announced at the time of ordering, or for a leaflet to be presented to gain a discount.

Sales Administration

Our restaurant bookings will be taken in person, over the phone and through our website. All other products and services will be sold directly.

Whilst all sales will be largely led by what the customer wants to order at the time, we will encourage more sales through our promotions and also through clever upselling by our staff. For example, asking customers if they would like to see the wine list over lunch, or asking them if they would like any bar snacks with their order are all ways we can gently make suggestions. We may look into financial rewards for our staff depending on which products we can upsell and how.

Strategic Alliances

Our greatest strategic alliance will be with ABC PLC, and we would ensure we work closely with the company at all times to ensure we are complying with their Code of Practice, and to raise any concerns we may have early on.

Exit Strategy

Not applicable.

#6 Restaurant Business Plan Financials Section

Ensuring that you have a COMPLETE financial plan within your business plan will DOUBLE your chances of investment as well as the future growth of your business.

A lot of small businesses don’t have a financial plan and it’s essential to your long-term success and business growth.

We’ve listed here the key elements you need to have in a successful financial section:

• Initial Start Up Expenses – Especially if this is a start-up idea, it’s essential that you have a description of what you need for investment purposes.
• Sales Forecast – It’s essential to have an estimate of your monthly sales revenue as well as annual. This helps you understand your business and plan out any marketing and growth strategies.
• Direct cost of sales – Measures the amount of cash the company will have to spend to produce the goods or services sold by the company. The direct cost of sales only includes the expenses directly associated to production.
• Profit and Loss Forecast – This is a statement summarizing the revenues, costs and expenses incurred during a specific period.
• Balance Sheet – This is the financial position of the company and states its assets, liabilities and owners’ equity at a particular point in time. It illustrates the business’s net worth.
• Loan Repayment – This shows the lender or potential investor the act of paying back any monies.

So… Are you ready to look at some figures?

Profit & Loss

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Additional Resources:

• 40 Common Business Plan Mistakes to Avoid when Writing your Plan
• What is a Business plan and why do you need one?
• How to Write a Business Proposal in 5 Easy Steps
• 10 FREE Business Name Generator Tools to find your perfect business name

Now, over to you...

Now I’d love to hear from you:

Are you going to start up your own bar & restaurant or have you recently written a business plan?

We’d love to know what you thought about our bar & restaurant business plan example.

Feel free to leave any comments below and I will be sure to answer them as soon as they come in.

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How To Open A Bar

1. Decide what type of bar you want to open

Create your concept

2. Identify your business structure

3. Create a business plan

Identify your customers

Analyze your competition

Choose your strategy for overcoming competition, 4. find the ultimate location.

Decide on the size of your establishment

5. Sort out the paperwork

Secure permission from the local government agencies.

Visit the building and safety department., brainstorm and register your bar’s name..

Obtain an Employer Identification Number (EIN)

Can be done online via IRS (Internal Revenue Service) website. You’ll need this number for most of your licenses and permits, and all tax documents.

Visit your local Alcoholic Beverage Control

Obtain food-service license

Complete a Special Occupational Tax with TTB

You will have to register with TTB at the federal level before you begin selling any alcohol. You can get all the information you need on their website.

Start your record book

Settle things with the fire department.

5. Design your bar

Plan your menu

Get a POS system

Choose the right equipment.

6. Stock up your bar

Build up the relationships with suppliers

7. Draft your team

Set up salaries

Find and hire the right candidates

8. Open your bar

9. Promote your bar

You know your place is awesome. Your mom thinks it’s awesome. Now let’s make the whole neighborhood think so as well!

Spread the news via social media

If your bar does not have a Facebook page these days, it is basically non-existent. Make sure you have created a custom page header that fits in the style of your bar; have some cool, high-resolution pictures of the menu and interiors in the albums; opening hours and location on the map stated.

To grow your social media following, offer some small perk for customers who will like your page on FB or follow you on Instagram e.g. free snack.

Invite online influencers to your opening

While attracting journalists and media might be a little tough for a small bar, inviting a few popular online personas (bloggers, vloggers, instagrammers etc) to live cover your big night may bring you the same buzz levels. And attract journalists afterwards.

Offer a complimentary appetizer to first 25 people to share your post

Offer a secret deal to social media followers

Enlist a special drink/food on the menu that any of your followers can order in case they do some social media action e.g. post a photo and tag you; write a special status etc.

Gauge the anticipation in advance

Reach out to your local media, covering lifestyle and restaurant business, in advance offering an exclusive sneak-peek inside your venue.

Start a happy hour

Offer special deals through group buying platforms

Post a discounted deal at sites like Groupon and LivingSocial for a limited amount of time to attract new visitors. If they like your service, they will spread the word for you!

Collaborate with other businesses nearby

Ask a bookstore to nail your posters in exchange for placing their leaflets on your tables. Offer a pizza delivery to give away your cards in exchange for doing same. It’s a win-win option for both parties.

Hold a “beat the clock” contest

Next Friday announce that you’ll start selling beer at half price from 8 pm and will increase the price by 50 cent each hour till midnight.

The next day you’ll be positively surprised by the amount of folks who did try to beat the clock.

Held thematic promotion days

Mondays can be a Champaign days with 10% discount on all bubbly drinks; Tuesdays are all for tequila; Wednesday is a snack day and so on. Your visitors should know that no matter which day of the week they come, they’d always get a special deal. You can also pair drink discounts with food discounts.

10. Run your bar

Eat App for

How it works

How To Open A Bar: A Complete Step-By-Step Guide

Transforming your dream bar into reality takes a lot of planning.

First, come up with the concept for your bar:  who are you serving, what's your vibe, and what sets you apart? Create a business plan detailing finances, marketing, and competitor analysis.

Comment by from discussion in startups

Next, secure funding and tackle legalities like licenses and permits. Find a location buzzing with potential customers and matching your vision.

Design a space that reflects your brand and invest in essential equipment and supplies. Recruit and train a skilled team to bring your vision to life.

Stock up on beverages, food (if applicable), and garnishes. Generate excitement through social media , partnerships, and events.

Finally, host a soft opening to iron out kinks before the grand unveiling. 

Remember, this is just the roadmap – each step requires research, approvals, and resources. For more on this topic, continue to read our complete guide below

Here's the complete checklist on how to open a bar in 2024:

1. Create a business plan

2. consider the structure of your business.

3. Get your funding in order

4. Understand DBA, EIN, and taxes

5. Get the required bar licenses and liquor licenses

6. Put together a bar menu

7. Organize your marketing, promotion, advertising, and branding

8. Remember to trademark your name and logo

9. Create your bar and begin remodeling

10. Select the ideal spot

11. Hire the right people

12. Select distributors and suppliers, then buy your supply

13. Create sales forecasts, and pay attention to your bottom line

14. invest in a table management system, 15. purchase bar supplies, the complete checklist to opening a bar.

Poor initial planning can make fixing a small business like a pub or nightclub expensive, if not impossible. For this reason, before launching a bar or nightclub , bar owners should have a full bar business plan and strategy in place.

You can lower your chance of failure by finding weaknesses in your bar concept and business model that can be addressed before launching by creating a business plan for your bar.

It can also assist you in putting your major objectives—such as your company's competitive advantage and mission statement —into writing.

Plus, it will also help you in estimating the startup expenses you'll incur and in preparing to approach potential investors and investors for funding.

Keep in mind you won't be able to forecast the exact month you finally reach your break-even point, for example. And the exact specifics of your new bar business are likely to vary over time.

What you can do, though, is list the elements and KPIs that will affect the bottom line of your company.

Further reading

• How to Write a Restaurant Business Plan in 2024 (Step by Step Guide with Templates)

When opening a bar, one of the most important choices you'll have to make is how to set up your company.

Which business structure do you intend to use: corporation, LLC, partnership, or sole proprietorship?

A sole proprietorship or partnership may be simpler to establish, but there is a drawback to this type of organization: you bear personal liability for any debt and/or lawsuits your company incurs.

Stated differently, in the event of a dispute, your liability is unrestricted, which implies that you might have to give up personal belongings to pay for damages.

The most common way to protect yourself from personal responsibility is to incorporate or form an LLC for your restaurant or bar.

These business arrangements restrict your liability by acting as an independent entity and taking on the other business owner's debts.

For example, if someone trips and falls in your bar and wishes to sue, they do so against the business rather than against you.

Make sure you understand what you're committing to before you finalize the complete structure of your business. For more assistance on this topic, we suggest you speak to a bar owner, who can give you some guidance. 

3. Get your funding in order

The benefit of bars and nightclubs is that they can more easily make money than restaurants, especially compared to the latter.

Bars can turn a profit faster since alcoholic beverages have high markups and cheap ingredient costs.

They also demand fewer employees, which reduces labor expenses; all of these factors will increase the appeal of your company to possible investors.

• What is a Restaurant Profit Margin? Your Complete Guide

4. Understand DBA, EIN, and taxes

Taxes are a necessary expense for any organization, and managing this process from the start to the end will save you hassles. The first step is to apply for an Employer Identification Number (EIN), which is the tax ID number for your company, from the IRS.

You must file for a DBA (Doing Business As) if your company will be taxed under a name other than yours or the company's.

A competent accountant is essential to the successful operation of a restaurant business, so it's a good idea to enlist their assistance early on.

Wish I understood DBA and EIN before opening my bar. Tax mess was a nightmare. Hire an accountant—trust me!

5. Get the required bar licenses and liquor licenses

Before you open for business, your bar must have the appropriate liquor license to avoid legal issues and to guarantee the smooth opening and continuing operations of your establishment.

You need a license to sell food and drink in your bar, as well as to play music. While some of these are simple to attain, others need more work.

Starting early is essential because obtaining a bar business license can be expensive and take several days, weeks, or months.

You will likely require legal assistance at some point during the life of your company, so working with a reputable lawyer from the beginning of the opening process will help you steer clear of costly and time-consuming errors.

6. Put together a bar menu

Take inspiration from bar menu design templates, explore local bars, and browse internet menus of bars that share a similar theme. Next, organize and create your own bar menu based on the kind of establishment you're operating.

• Top Free Restaurant Menu Makers

A wine bar should feature a variety of wines, sometimes in a specialty area (like natural wine), while a craft beer bar should have dozens of distinctive, locally brewed beers.

• How to Manage a Winery: Tips for a Wine Manager

A general bar should serve a variety of drinks, including wine, beer, and non-alcoholic options, in addition to classic cocktails and inventive concoctions.

• The Most Overlooked Profitable Menu Items for Restaurants

7. Organize your marketing, promotion, & branding

Many bars attract guests by word of mouth, foot traffic, and proximity; this is especially true for establishments hoping to establish themselves as beloved local hangouts.

But, it's important to highlight your products with an internet presence and an effective marketing plan to expand your bar business.

This is how you draw in clients from surrounding neighborhoods. Once they enter, your excellent atmosphere and beverage menu will entice them to return, even if it means having to go across town.

• The Best Digital Marketing Strategies For Restaurants

8. Remember to trademark your name and logo

Register your name and logo with your trademarks with the USPTO , the United States Patent and Trademark Office.

Adhere to the instructions provided on the USPTO website. Keep in mind that in certain situations, you could need legal representation.

Additionally, if you collaborated with a designer to develop your logo, you'll need to work with them to make sure you have the legal authority to use their creations as copyright.

• How to Name a Restaurant (Expert Tips, Ideas & Examples)

9. Create your bar and begin remodeling

Unlike restaurants, where guests can occasionally be content with takeaway or delivery , people go to bars for the ambiance and to mingle.

Likely, people are there for the atmosphere rather than the drink if they are at the bar. That is why it's important to choose the appropriate furniture, décor, and music.

Make sure everything in your bar design complements one another. In one example, everything should be in harmony; don't create a sports bar and play techno music.

Create a board on Pinterest to collect unique ideas for bar decor. Engage the services of an interior designer if you can.

Whatever you choose, be sure to get this right so you can provide your clients with an unforgettable experience and encourage repeat business.

 10. Select the ideal spot

The greatest method for locating your bar in the ideal area is to conduct a location study. These are a few of the most important aspects to take into account, while there are many more:

• Target demographics:  Either start by focusing on a place whose population characteristics align with your idea or build your whole plan around the characteristics of a chosen site.
• Zoning laws and health regulations:  Zoning laws can differ significantly between counties and cities. To ensure you know what to anticipate, make sure you familiarize yourself with the zoning laws in your area.
• Access and visibility:  Choosing a spot that is visible to onlookers and drivers alike is crucial. Parking that is accessible is always ideal.
• Take a look at the competition nearby:  If there are a lot of bars in the area, you might want to consider choosing an alternative site or making sure your bar has a distinctive concept that makes it stand out.

11. Hire the right people

The staffing requirements of various bar types can differ.

A huge nightclub , for example, will need additional staff, such as a house DJ or bottle service personnel, that a small neighborhood pub won't require.

You might want a sommelier on staff if you manage a wine bar . To start most bars, you'll need to fill the following important positions:

• A hostess/ host
• Barbacks and servers

Starting a new business and getting in on the ground floor of a new bar excites a lot of potential employees.

• How To Get More Tips For Your Servers with Pay-at-Table

Creating a clear workplace culture from the start is the greatest approach to retaining your excellent bartending staff given the high turnover rate.

A well-thought-out training program with precise expectations should be developed in addition to conducting interviews and employing new staff.

Ensuring that your staff is properly trained to recognize indicators of obvious intoxication is an essential aspect of owning a bar.

These indicators should be highlighted in your training program, along with advice on how to handle inebriated customers. Ensuring your guests' safety is your duty both during their stay and after they depart from your establishment.

Get started with Eat App's free trial to get your staff up and running in no time!

12. Select distributors and suppliers

A method for bar inventory management or appropriate usage of a bar point-of-sale system should be established before opening.

This is because bar inventory plays a significant role in monitoring your cost of sales (including liquor, food, and other critical metrics).

You can determine which drinks are the most profitable in your bar and establish prices with the use of effective bar inventory tracking.

This information can be used to price your bar menu profitably, improve your bar's profit margin, and assist bartenders in making more sensible drink recommendations.

Make sure you have an effective bar accounting system in place in addition to keeping accurate inventory records.

Whether you use Quickbooks or employ a bookkeeper, it's important to monitor your company's performance and identify areas for improvement.

Although it can be difficult to project exactly how much money your bar business will make in the first few months, you can start monitoring key performance indicators as soon as you open by utilizing a top-notch bar point-of-sale and reservation system.

Maintain a record of your fixed and variable operational expenses and calculate the daily, weekly, and monthly revenue requirements to meet your expenses, break even, and ultimately turn a successful bar into a profit.

The bar scene is competitive, and maximizing efficiency while providing an outstanding guest experience is key to standing out.

A table and reservation system isn't just for fancy restaurants anymore – it's a powerful tool for modern bars to boost revenue, streamline operations, and delight guests.

Here's why:

Enhanced customer experience:

• No more waiting frustration:  Offer online reservations to eliminate walk-in wait times and guarantee customers a spot, especially during peak hours. This builds trust and reduces the chance of losing them to competitors.
• Personalized touch:  Capture reservation details to offer table preferences, birthday greetings, or special promotions, creating a sense of recognition and appreciation.
• Increased convenience:  Integrate with social media platforms or your website for seamless online booking, catering to tech-savvy clientele.
• Reduced queues:  Manage bar flow and optimize seating arrangements based on reservations, ensuring smooth service and avoiding overcrowding.

Operational efficiency:

• Maximize table turnover:  Allocate tables effectively based on reservation size and duration, leading to more customers served and increased revenue.
• Improved staff communication:  Eliminate confusion with a centralized reservation system that staff can access and update in real-time.
• Reduced errors:  Minimize double-booking and seating mishaps, leading to better service and happier customers.
• Data-driven decisions:  Gain insights into reservation trends and customer preferences to optimize staffing, inventory, and promotions.

Additional benefits:

• Marketing opportunities:  Collect customer data for targeted promotions and loyalty programs, fostering repeat business.
• Event management:  Facilitate group bookings and special events with dedicated reservation features.
• Reduced no-shows:  Implement confirmation systems and require deposits to minimize empty tables and lost revenue.

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Choosing the right system:

Consider bar size, budget, and desired features when selecting a system.

Opt for cloud-based options for flexibility and scalability. Invest in a system that integrates with your existing bar POS system for streamlined operations.

The comparatively lower equipment costs at bars compared to restaurants contribute to their greater profitability.

You won't need an industrial mixer, deep fryer, burner, oven, or walk-in freezer if your bar doesn't serve food, which can reduce your startup expenses. It is still possible to work with a more manageable list of essentials if you only serve appetizers or snacks. If you're creating a sports bar, you will still need to spend money on excellent blenders, lots of refrigerators of all capacities, perhaps a wine cellar, a top-notch dishwasher, a keg and tap system, and lots of TVs.

Find out more about the supplies required to operate a bar, then make a list of what you should acquire first.

For your bar, you'll also need to purchase a tonne of small wares, such as straws, glassware, napkins, and cleaning supplies.

Here are some tips from bar owners on Reddit: 

Comment by u/SirSmilezzz from discussion in BarOwners

Opening a bar can be an exciting and rewarding journey, but it requires careful planning, dedication, and a touch of passion.

This guide has equipped you with the essential steps to navigate the bar opening process, from crafting your unique concept to securing funding and pouring your first drink.

Remember, the bar industry thrives on innovation and personalized experiences. Don't be afraid to experiment with your menu, create a welcoming atmosphere, and prioritize exceptional customer service.

By staying true to your vision and adapting to market trends, you'll be well on your way to building a thriving bar that becomes a beloved community hub.

How profitable is a pub?

What is the typical profit margin at a pub?  Around 80% is the profit margin that most bars strive for.

Bars have an average gross profit margin of almost 75% overall. Being able to measure and regulate your pour expenses is essential to hitting that target. Pour cost is an important metric to measure the profitability of your bar.

What is the startup cost of a local pub?

A pub must spend between $110,000 and $850,000 to be fully operational when it is first opened, for an average of $480,000.

Taking over an established pub business is typically less expensive because you'll save money on renovations and can include furnishings and equipment in the deal.

Are bars considered a good investment?

Purchasing a pub places owners in a sector of the economy that has the potential to grow for many years, but the companies with the most innovative approaches to customer service will probably have the advantage in this regard.

Customers of today anticipate quick service and prompt fulfillment of their wants when they visit bars because they are accustomed to it.

Senior Content Manager at Eat App

Elana Kroon used to work in restaurants before becoming a journalist and expert restaurant industry content creator at Eat App.

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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How to write a restaurant business plan

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

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.

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.

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.

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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Step By Step Guide To Write A Bar Business Plan

Opening a new bar requires grit and determination - as well as a fantastic bar business plan to act as your roadmap. This document can determine the future success of your new venture, so it’s essential to make it as comprehensive as possible.

But for first-time bar owners, figuring out where to start can be challenging. Our step-by-step guide to writing a business plan will help you pinpoint the finer details to consider when building a thriving bar business.

How to Write a Bar Business Plan in 9 Steps

1. bar overview.

The first step in writing a bar business plan is to establish an overview of the type of bar you want to open. You need a concept and location to shape your business model and create an executive summary for your new venture:

One of the defining aspects of your establishment is its concept and theme, which you’ll need to describe clearly in your business plan. Whether it’s a simple sports bar, speakeasy, or high-end nightclub, have a fully developed idea of what your venue will be and what purpose it will serve.

You also need to consider how to meet market needs. If you’re following trending concepts, you’ll know that roof-top bars and lounges are popular now. Or, perhaps you want your venue to be an activity-based bar that offers an art gallery, board games, or mini-golf?  

Part of your business plan also includes setting your mission statement and goals. These should outline your vision and will influence who invests in your bar. Your mission statement should be a comprehensive statement that details what sets you apart from other bars and should include your company’s values.

It’s important to link your statement to your business concept. You should consider how your values and goals are influenced by what makes your bar unique - including your overall purpose.

Next, you need to propose a location for your bar. Venues close to stores, shopping, centers, and tourist attractions, typically get good visibility and attract a lot of foot traffic. Because of the number of people moving through these areas daily, they also usually offer a decent level of security for your customers.

Another consideration for location is to avoid suburban areas where neighbors might lodge noise complaints. Should this happen, it can mean regulations stipulate earlier closing times for your venue so as not to disturb the peace.  

Finally, look for a space where there’s low competition, and your business can shine. There are plenty of strips crowded with bars and nightclubs. While these might attract a decent amount of foot traffic, you’ll need to work much harder to draw people into your place if one establishment has already made a name for itself.

For this reason, aim to secure a spot with little competition. It could mean having a unique concept bar that overshadows the competition. Or it could mean selecting a space where your type of bar doesn’t yet exist.

Ease of Accessibility

Potential customers need to be able to access your bar easily, or they will go elsewhere. They might drive, take public transport, or use a ridesharing company to travel to your venue. It’s up to you to ensure there are ways and means to get them conveniently to the front door.

Here, you should be looking for a venue where you can offer parking to your patrons. It should also be accessible to ride-hailing services and close to public transport.

2. Customer Overview

No bar establishment would be successful without its customers. As part of your bar business plan, include a profile of the type of customer you hope to attract. Consider who your target market is and how it aligns with your bar concept.

You should also outline your demographic's age, income, and interests. You’ll need this information later when developing marketing strategies for your business.  

3. Management Overview

The next step in your bar business plan is building a team structure. Your crafty bar concept requires talented people to execute it properly.

Your bartenders are the face of your establishment. Essentially, they can make or break your customer’s impression of your venue. When going through the hiring process, you’ll need to consider each individual’s personality, qualifications, experience, and skills.

Ideally, you want at least one experienced bartender who knows the ropes and can help set up operations, deal with bar management, and train the team. They will also be able to help streamline any teething issues that come up as a result of starting a new business.

From the get-go, outline your bartending teams’ possible responsibilities and the duties they’ll need to undertake. This can help set expectations ahead of advertising jobs and interviewing potential candidates.

Bar-backs don’t need as much experience as bartenders or servers as they aren’t in the customer eye as much. But they must be willing and eager to learn. They are essential to keeping everything running smoothly and work closely with the bartender as an assistant.

For this reason, they need a solid foundational knowledge of the industry, ingredients, and barware in general.

Depending on your business concept and operational model, you may or may not need to employ servers. Some high-end venues have servers to reduce the crowd around the bar and deliver drinks to the table. Additionally, you’ll need to hire servers if you offer any food.

When building out your staffing plan, you’ll need to determine where your establishment lands with that requirement. Make a note here to look for bar industry candidates with alcohol training who know how to serve alcohol safely and legally.

4. Drinks Menu Plan

Your drinks menu is your bar’s product. To be successful, it’s essential to get this offering right.

While your beverage list will undoubtedly change over time, don’t neglect to include a sample menu in your business plan. This will give potential investors an idea of what’s in store and possibly help you secure funding.

Descriptions

Your drinks menu is the selling point of your bar business and the star of the show. If you can excite and entice patrons with promises of wonderful flavors, you’ll be onto a gold mine.

So, it’s important to include product descriptions in your menu, particularly for signature drinks. Each listing should detail the ingredients of individual drinks, any garnishes they may come with, and add-ons your customers can choose from.

Beverage Names

A successful bar is only as strong as its product. So, aligning your drinks with your bar’s brand and concept is important. Get together with a mixologist to create one or several signature drinks that will be uniquely your own. Give these drinks names that play to the overall theme of your business.

Product Sourcing

Many establishments lean on particular products as their claim to fame. For example, you might want to be known as a French wine bistro, local brewery, or craft cocktail spot. Decide what you wish your unique story to be and reflect this in your plan for product sourcing.

Of course, sourcing locally is the most sustainable way to go. You can also build relationships with vendors in your community, which can help bring people into your venue.  

Industry Trends

It’s essential to do your research and stay abreast of industry trends. Note what these are in your business plan, as this will help keep customers walking through your doors.

For example, one of the most popular cocktail trends in the bar scene is smoke-infused or smoked cocktails. Some mixologists may also use smoke bubbles to infuse the cocktail with a smoky aroma. This trend has gained fame in the last few years and adds a new twist to the cocktail-drinking experience.

Small Food Menu (Small Bites)

Food and beverages go hand in hand. If you plan a small menu with, say, tapas or easy eats, you can increase your revenue. It will prevent your guests from leaving to find something to eat.

Suppose you don’t want the hassle of food storage and preparation. In that case, consider formulating a partnership with a local eatery or small food business that can deliver a menu of select freshly-made items to your establishment.

5. Licenses

It’s key to plan out your business licenses carefully. If you don’t have the right ones in place, you won’t be able to operate.

Tavern License

When putting together your bar business plan, it’s important to research whether you need a tavern license. It’s a government-issued license for restaurants, bars, or businesses with more than 50% liquor sales.  

Beer and Wine License

If you’re planning on starting a beerhouse or wine lounge, you may only need to apply for a beer and wine license. This will restrict your sales to wine and malt beverages, as you won’t be able to sell hard liquors like spirits. Whether you need to apply for this license depends on your bar's concept.

Health/Food Service License

With a small food menu, you’ll likely need to note on your restaurant and bar business plan to apply for a food service license. It’s a requirement to serve any type of food within your establishment. To obtain a food service license, you’ll need to ensure that your bar follows strict rules and regulations laid out by the U.S. Food and Drug Administration .

Music License

Music is one of the key elements of creating ambiance in a venue. But did you know that streaming music from your digital subscription with Spotify or Deezer is not actually operating within the law? This is true even if you’re playing music through a TV or radio.

The right way to go about this is to pay a Performance Rights Organization (PRO) or music service that will send royalties to the relevant artists. For the most part, this doesn’t apply to bands or performers who play live at your venue.

6. Market Research

Performing market research as part of your bar business plan is key to understanding your opportunities and how to capitalize on them.  

Industry Research

Part of your research should be to determine the market size you can potentially snag. Look at other bars already operating in the area, consider the industry as a whole, and determine what trends are driving it forward.  

Target Market

What needs will your bar solve for your target market? You can find out who they are and what they want by considering the local neighborhood and bar type.

It’s also an idea to look at census data to see how many potential customers within a certain demographic live within a reachable radius of your proposed location.

Market Share and Price Point

When doing your market analysis, consider similar bar businesses that have come before you. What do their successes and failures look like? Why did they crash and burn, or soar to new heights? Take these lessons and figure out how to apply them so your business can succeed.

Furthermore, what will your entry into the market mean for the local community? Are you creating new job opportunities? Or are you going to bring in an unruly crowd of patrons they hope to avoid? Knowing this information will help you be accepted and create connections rather than catastrophes.

Lastly, consider what your ‘competitors’ or other similar industry businesses are charging for their drinks and services. Run a competitive analysis in the area to determine your potential price point and how you can stand out.

7. Bar Marketing

Utilizing a marketing plan in the right way helps you take measured steps to get your establishment in front of potential customers. Here are the strategies to get started:

Create a Brand

The key to starting a successful business - and keeping it open - is to create a memorable brand identity. Your toolbox for promoting your brand should include your logo, colors, and ‘personality.’ Use these in a way that becomes synonymous with your bar, no matter where people interact with it.

Marketing Tools

Besides developing your brand identity, consider the channels you can market on to attract customers. At the very least, it should include your social channels, website, and media influencers.

8. Other Avenues to Increase Revenue

Besides being a bar and welcoming guests who come in with reservations or foot traffic, there are other avenues to increase your revenue.

Hosting events such as karaoke nights, wine tastings, or live music is an excellent way to attract larger crowds to your bar. You are guaranteed certain sales, can charge a cover fee, and get new people walking through the door.

If you go this route, we recommend using event management software to keep everything on track and work effortlessly with your team.

It’s no surprise that all businesses go through an ebb and flow of customer traffic. A great way to increase cash flow during slower periods is to introduce ideas like drink specials and happy hour discounts.

When you’re writing up a business plan, don’t forget to brainstorm ideas for a pre-opening promotion as a way to test the market. This can be as simple as a soft launch or as elaborate as a grand-opening celebration.

9. Financials

An important aspect of your business plan is to outline your potential start-up costs. These, along with the costs of day-to-day business operations, and financial projections, will attract or deter potential investors.

Your business plan should also highlight possible funding options like loans and investment opportunities you have available. Additionally, you’ll need to draw up a break-even analysis to determine how much revenue it will take to turn profits.  

Realizing your dream of owning the hottest bar in town starts with a great business plan. It will need to cover everything from your mission statement to your concept and drinks menu. This will help you build a sturdy management team, hire great employees, and attract people to your venue.

Want to know more about Perfect Venue for event management? Try it free to find out how it can be a fit for your new business.

Have thoughts on the article? Feel free to email us at [email protected] - we'd love to hear it!

How to Open a Bar: Starting a Bar Business Steps

Here is your complete checklist to get started building your bar from the ground up.

Nick Rubright Author

Nick Rubright

Nick Rubright has a passion for helping musicians in their careers and businesses find their sound.

Opening a Bar Checklist

So many things go into opening a bar. With this free PDF checklist, you'll set your new business up for success.

Thinking of opening a bar? Bar owners get to enjoy the benefits of running a bar — working in a dynamic, fast-paced environment, getting to know regulars, mentoring bar staff, and generally taking part in a fun industry that contributes to building great nightlife in your city or town.

Michael Beltran, who opened The Gibson Room in Miami earlier this year, had dreamed of this bar for over 15 years. But in 2023, the time was finally right. “It brings me a lot of joy to create something for the city that they wanted and needed,”  he shared with Michelin Guide . “I want The Gibson Room to be a really great place for a very long time.” 

Especially if you’ve already worked in the restaurant or bar industry, opening a new bar can be an exciting opportunity — even a profitable one. Compared to restaurants, which tend to only bring in 3-5% in profit, bars and nightclubs enjoy a stronger average profit margin,  ranging from 10-15% . Plus, starting a business means running your own bar how you’ve always wanted to see it done at places you’ve worked — whether you’re building a bar from scratch or buying an existing bar.

We’ll get into everything business owners need to know and need to do in order to open a bar.

What Do You Need to Start a Bar Business? (Checklist)

• Write Your Bar Business Plan

A bar or nightclub is the type of small business where poor initial planning can be expensive to fix — if not impossible. That's why it’s important for bar owners to have a business plan in place when opening a bar or nightclub.

Writing out a  bar business plan can help you identify holes in your business model and bar concept that can be fixed before opening and reduce your risk of failure. It can also help you get your big goals in writing, like your  mission statement and your business’s competitive advantage. It can also help you get a sense of the startup costs you’ll need, and help you get ready to seek out capital and investors. 

The minor details are likely to change over time — for example, you won’t be able to predict the month you finally hit your  break-even point . But what you can do is outline the factors and metrics that will contribute to your business’s bottom line.

Bar Business Plan Template

Use this free bar business plan template to easily create a great business plan that organizes your vision and helps you start, grow, or raise funding for your bar.

How to Open a Bar: Your Complete Checklist

Set up your business structure, secure funding and loans, taxes, ein, and dba.

• Obtain a Liquor License and Other Necessary Licenses

Trademark Your Name and Logo

• Choose the Perfect Location

Design Your Bar and Start Renovations

Create the bar menu.

• Plan Your Branding, Marketing, Promotions, and Advertising

Buy Bar Equipment

Hire excellent bartenders, bar managers, barbacks, and other staff, find suppliers and distributors, and purchase your inventory, buy a bar pos system.

One of the first big decisions you’ll have to make when starting a bar is how to structure your business. Do you plan to be a sole proprietorship, a partnership, an LLC, or a corporation?

It can be easier to start a sole proprietorship or a partnership, but one problem with this structure is that you’re personally liable for lawsuits and debt incurred by your bar. In other words, if something goes wrong, there are no limits to your liability so you may need to forfeit personal assets to cover a loss should one occur.

To avoid personal liability, the most popular option is to  set up your restaurant or bar as an LLC or a corporation. These business structures act as an entity of their own and take on the business' liabilities, which limit your personal liability — so if someone slips and falls in your bar and wants to sue, they sue the business instead of you as an individual.

The benefits of each of these structures are beyond the scope of this article, but you can  learn more about the five US business types here. .

The great thing about bars and nightclubs, especially when compared to restaurants, is that they’re more easily profitable. Alcoholic beverages have high markups and low ingredient costs, which make it much easier for  bars to profit more quickly. They also require fewer staff, which lowers labor costs — all of which will make your business more appealing to potential investors. 

To learn about the various loan and funding options available to hospitality businesses, check out our  guide to restaurant financing and loans.

Every business needs to pay taxes, and staying on top of that process from the beginning — and years to come — will help you avoid headaches.  First,  apply for an Employer Identification Number (EIN) from the IRS, which is your business’s tax ID number. 

If your business will be taxed under a name that isn’t your name or the business’s, you’ll need to register for a DBA (Doing Business As). 

To run a restaurant smoothly, you’ll need a good accountant, so it’s a good idea to find one to help you from the very beginning.  

Obtain a Liquor License and Other Necessary Bar Licenses

It’s important that your bar is properly licensed before you open for business to avoid legal trouble and to ensure your bar opening and ongoing operations go smoothly.

Licenses are required in order to serve alcohol, food, and even to play music in your bar. Some of these are easy to obtain, while others are more complicated.  Many bar business licenses cost money and take time, from days to weeks to months , so starting early is crucial. 

Learn  how to get a liquor license (and two other essential bar licenses). 

Throughout the life of your business, there’s a good chance you’ll need a lawyer at some point or another, so starting to work with a trusted attorney early on in your opening process can help you avoid costly and time-consuming mistakes.

Register your trademarks, including your name and logo, with the  United States Patent and Trademark Office (USPTO). Follow the steps listed on the  USPTO website . Note that some cases may require an attorney to represent you, and if you worked with a designer to create your logo, you’ll need to work with them to ensure you have the right to copyright their work.

Choose the Perfect Location for Your Bar

A location can make or break a business. Here are a few things to consider before choosing the right location for your bar:

Rent and Utility Costs – Do you expect to be able to attract enough customers on a regular basis to cover the cost of rent and utilities?

Your Bar’s Style – There are so many types of bars: cocktail bars, dive bars, breweries, craft beer bars, sports bars, pubs, brewpubs, specialty bars that focus on one spirit (like whiskey bars), bar lounges, wine bars — and within that list, there’s a lot of variety in terms of ambiance and vibe. Will you be building a bar that’s formal and elegant? Hip? Divey? Corporate? Casual? All of these factors can determine what kinds of potential customers you’ll be trying to reach, and where you should set up shop to do just that. 

Target Customer Demographics – Different areas of your city appeal to different types of people. So choose your target market and look for a location that suits them. If you’re looking to appeal to college students, opening near a university makes sense. If you’re looking to attract well-paid customers looking to splash out on a $22 cocktail, set up shop in an affluent part of town.

Transit and Parking — In cities, choosing a location close to a subway station or bus stop can be more expensive, but you’ll be much more likely to capture more foot traffic. Consider that balance when choosing your location.  In more rural areas, ensure there’s adequate parking nearby, or room for a parking lot — but also be sure to create a plan and set of policies to prevent drunk driving.

Zoning Restrictions – Is the location zoned for a bar business? Every city and town will have its own zoning policies, so dig deep for information before falling in love with a location and finding out you can’t put a bar there.

Find a commercial real estate agent that you trust, ideally one that works with restaurant businesses and bars, and start your search.

People go out to bars for the atmosphere and to socialize — it’s not like a restaurant where people can sometimes be satisfied with takeout or delivery. If they’re at the bar, chances are it’s more for the vibe than for the beers. That’s why selecting the right music, décor, and furniture is so important.

When choosing your  bar design , make sure everything is complementary. For example, don’t open a sports bar and play techno music: everything should be in sync.

Check out Pinterest for unique bar decor ideas and build a board of inspirations. If you have the budget, hire an interior designer.

Whatever you decide, make sure you get this right so that you can create a memorable experience for your customers to keep them coming back.

Restaurant Floor Plan Templates

Use these restaurant floor plan templates to get inspired as you map, or reimagine, the layout and space setup for your restaurant.

Get inspired by  bar menu design templates, by scoping our bars in your area, and by checking out online menus of bars elsewhere with a similar concept. Then, put together and design your  bar menu in accordance with what type of bar you’re opening.

 A craft beer bar should have dozens of unique, local beer options, and a wine bar should have a range of wine options, sometimes within a niche (like natural wine). A cocktail bar can have creative cocktails as well as rail classics, and a general bar should have a little bit of everything, some beers, some wine, classic cocktails, and non-alcoholic options.

Bar Menu Templates

Use these bar menu templates as a starting point for your menu design or to give your menu a refresh.

Plan Your Branding, Marketing, Promotion, and Advertising

Many bars get customers through word of mouth, foot traffic, and proximity — especially bars aiming to become a cozy neighborhood bar standby. But in order to grow your bar business, it’s important to also show off your offerings with an online presence and a strong marketing strategy. That’s how you attract customers from other neighborhoods to come check out your business, and once they’re in the door, your great vibe and drink selection will keep them coming back — even if they have to travel across the city. 

Learn more about  bar marketing and how it can help you get a strong start.

Part of what makes bars more profitable than restaurants is the relatively lower cost of equipment. If your bar doesn’t do food service, you won’t need a stove, oven, industrial mixer, deep-fryer, or walk-in freezer, which can cut down start-up costs. Even if you serve snacks or appetizers, you can work with a more manageable list of major equipment.

However, you’ll still need to invest in great blenders, plenty of fridges of various sizes, maybe a wine cellar, a great dishwasher, a keg and tap system, and many TVs if you’re opening a sports bar. Learn more about the  equipment you need to run a bar , and start planning what you’ll buy first.

You’ll also need to buy plenty of smallwares for your bar, like glassware, napkins, straws, cleaning supplies, and more.

Your bar will not succeed without the right staff, but it’s not always easy to find great bartenders,  barbacks , servers, and support staff. As the bar owner, you may choose to take on the role of  bar manager , or you can hire an experienced bar manager to lead your operation alongside you.

It’s important to have bartenders who are experienced and great at making drinks, but what matters even more is that every staff member is great at connecting with customers and working collaboratively. Customers could always just make drinks at home, but they’ll come back to your bar time and time again to enjoy the vibe and camaraderie. 

In order to attract great staff, build competitive pay and meaningful benefits into your business plan. Bars and nightclubs are among the most profitable business types within the hospitality industry, so you’ll be able to swing it if you built it into your business plan from the beginning. With a comprehensive compensation package, you’ll attract the best of the best.

Once you have a killer staff, rely on them to help you find more candidates. The best employees often stem from an existing network; great bartenders know great bartenders. 

Keep everyone motivated and happy by featuring your bartenders' creations on social media or entering your staff for bartending competitions and awards. And encourage them to never stop learning:  bartender training is essential to helping your aspiring bar team grow into genuine hospitality professionals. 

Looking to become a bartender before opening a bar of your own? Check out our guide on  How to Become a Bartender .

Bar inventory is an important aspect of keeping track of your cost of sales (including  liquor cost , food cost, and other important  metrics ), so before you open, make sure you set up a process for this or make proper use of a  bar point of sale system .

Proper bar inventory tracking can help you set prices and figure out which beverages are most profitable in your bar. You can use this information to help bartenders make more effective drink recommendations, increase your  bar profit margin , and to price your bar menu for profitability.

In addition to properly tracking inventory, make sure you have a good bar accounting system in place. Whether you use Quickbooks or hire a bookkeeper, it’s important to keep track of how your business is doing, and where you need to make improvements.

It's imperative that you invest in a  bar POS system before opening your bar. A good point of sale system will speed up your workflows behind the bar and in the kitchen, helping you make more revenue and preventing costly accounting problems.

The best POS systems for bars are customizable to your setup — even if you run a high-volume bar or nightclub. Here are top five top  bar POS features you should look for:

Handhelds - With handheld point of sale systems such as  Toast Go™ , bar servers can take customers' orders from anywhere in the bar — even the rooftop — and allow customers to pay, sign, and tip quickly on the device. Plus, a repeat button on the device makes it easy to re-order drinks.

Time-based Pricing - As a bar owner, you will most likely want to set happy hour pricing to entice the after-work crowd. The best POS systems make it so time-based pricing is automatic, so you don't have to sit down and set it every day.

Preauthorization - Credit and debit card preauthorization (or "preauth") allows bartenders to swipe a customer's credit card, securely save that information as their bar tab, and verify that the card is real and has a preconfigured amount of funds on it.

Moving & Splitting the Check - If a customer moves from one area of the bar to another, transferring the check should be easy and painless, as should splitting checks by person or item. Plus, if a shift changes, you should be able to bulk transfer checks, sending multiple paid and/or open checks to a new server or closing several paid checks at a time.

Intuitive, Cloud-Based Drink Menu Management - You might need to change the price of a drink on the fly, or change your pitcher specials and happy hour specials every morning. With cloud-based bar POS software, you can do that from your couch.

A smart POS system with bar and nightclub management software is critical to the success of your business from the beginning.

If you're interested in learning more about how Toast helps bars get up and running and be as profitable as possible, schedule a demo today!

Set Up Sales Forecasts, Track Operating Expenses, and Watch Your Bottom Line

It can be tricky to predict exactly how much your bar business will bring in in the early months, but using a great  bar POS can help you start tracking important performance metrics from the moment you open. Keep track of your fixed and variable operating costs and plot our how much revenue needs to come in every day, week, and month to cover your costs, break even, and eventually start profiting.

Planning Thoroughly, Finding Funding, and Hiring the Best People Makes for a Successful Bar

Starting a new business can be exciting, invigorating, and totally exhausting. It’s a long road full of possible bumps on the way to your bar’s grand opening, but hospitality pros and entrepreneurs are no strangers to a challenge. And once your bar is open, filled with customers, and with a team that’s great at connecting with your community, hopefully you’ll look around and see that all the steps were more than worth it.

Related Bar Business Resources

How to Write a Bar Business Plan

Bar POS System

Bar POS Comparison Tool

Best Bar Websites

Cost to Open a Bar

Bar Marketing Ideas

Bar Design Ideas

Bar Branding

Bar Ideas and Concepts

Bar Equipment List

Bar Licenses and Permits

Bar Floor Plans

Best Bar POS Systems

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DISCLAIMER: This information is provided for general informational purposes only, and publication does not constitute an endorsement. Toast does not warrant the accuracy or completeness of any information, text, graphics, links, or other items contained within this content. Toast does not guarantee you will achieve any specific results if you follow any advice herein. It may be advisable for you to consult with a professional such as a lawyer, accountant, or business advisor for advice specific to your situation.

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Restaurant Business Plan: What To Include, Plus 8 Examples

• Business Growth & Management , Templates & Guides

Do you want to ensure the success of your new foodservice endeavor? Write a restaurant business plan.

In this article, the experts at Sling tell you why a business plan is vital for both new and existing businesses and give you tips on what to include.

Table Of Contents

What Is A Restaurant Business Plan?

Why is a restaurant business plan important, questions to ask first, what to include in an effective restaurant business plan, how to format a restaurant business plan, efficient workforce management is essential for success.

At its most basic, a restaurant business plan is a written document that describes your restaurant’s goals and the steps you will take to make those goals a reality.

This business plan also describes the nature of the business itself, financial projections, background information, and organizational strategies  that govern the day-to-day activity of your restaurant.

A restaurant business plan is vital for the success of your endeavor because, without one, it is very difficult — sometimes even impossible — to obtain funding from an investor or a bank.

Without that all-important starting or operational capital, you may not be able to keep your doors open for long, if at all.

Even if funding isn’t a primary concern, a business plan provides you — the business owner or manager — with clear direction on how to translate general strategies into actionable plans  for reaching your goals.

The plan can help solidify everything from the boots-on-the-ground functional strategy  to the mid-level business strategy  all the way up to the driving-force corporate strategy .

Think of this plan as a roadmap that guides your way when things are going smoothly and, more importantly, when they aren’t.

If you want to give your restaurant the best chance for success, start by writing a business plan.

Sitting down to write a restaurant business plan can be a daunting task.

As you’ll see in the What To Include In An Effective Restaurant Business Plan section below, you’ll need a lot of information and detail to ensure that the final document is both complete and effective.

Instead of starting with word one, it is hugely beneficial to answer a number of general questions first.

These questions will help you narrow down the information to include in your plan so the composition process feels less difficult.

The questions are:

• What problem does the business’s product or service solve?
• What niche will the business fill?
• What is the business’s solution to the problem?
• Who are the business’s customers?
• How will the business market and sell its products to them?
• What is the size of the market for this solution?
• What is the business model for the business?
• How will the business make money?
• Who are the competitors?
• How will the business maintain a competitive advantage?
• How does the business plan to manage growth?
• Who will run the business?
• What makes those individuals qualified to do so?
• What are the risks and threats confronting the business?
• What can you do to mitigate those risks and threats?
• What are the business’s capital and resource requirements?
• What are the business’s historical and projected financial statements?

Depending on your business, some of these questions may not apply or you may not have applicable answers.

Nevertheless, it helps to think about, and try to provide details for, the whole list so your finished restaurant business plan is as complete as possible.

Once you’ve answered the questions for your business, you can transfer a large portion of that information to the business plan itself.

We’ll discuss exactly what to include in the next section.

In this section, we’ll show you what to include in an effective restaurant business plan and provide a brief example of each component.

1) Executive Summary

You should always start any business plan with an executive summary. This gives the reader a brief introduction into common elements, such as:

• Mission statement
• Overhead costs
• Labor costs
• Return on investment (ROI)

This portion of your plan should pique the reader’s interest and make them want to read more.

Fanty & Mingo’s is a 50-seat fine-dining restaurant that will focus on Sweruvian (Swedish/Peruvian) fusion fare.

We will keep overhead and labor costs low thanks to simple but elegant decor , highly skilled food-prep staff, and well-trained servers.

Because of the location and surrounding booming economy, we estimate ROI at 20 percent per annum.

2) Mission Statement

A mission statement is a short description of what your business does for its customers, employees, and owners.

This is in contrast to your business’s vision statement which is a declaration of objectives that guide internal decision-making.

While the two are closely related and can be hard to distinguish, it often helps to think in terms of who, what, why, and where.

The vision statement is the where of your business — where you want your business to be and where you want your customers and community to be as a result.

The mission statement is the who , what , and why of your business — it’s an action plan that makes the vision statement a reality

Here’s an example of a mission statement for our fictional company:

Fanty and Mingo’s takes pride in making the best Sweruvian food, providing fast, friendly, and accurate service. It is our goal to be the employer of choice and offer team members opportunities for growth, advancement, and a rewarding career in a fun and safe working environment.

3) Company Description

In this section of your restaurant business plan, you fully introduce your company to the reader. Every business’s company description will be different and include its own pertinent information.

Useful details to include are:

• Owner’s details
• Brief description of their experience
• Legal standing
• Short-term goals
• Long-term goals
• Brief market study
• An understanding of the trends in your niche
• Why your business will succeed in these market conditions

Again, you don’t have to include all of this information in your company description. Choose the ones that are most relevant to your business and make the most sense to communicate to your readers.

Fanty & Mingo’s will start out as an LLC, owned and operated by founders Malcolm Reynolds and Zoe Washburne. Mr. Reynolds will serve as managing partner and Ms. Washburne as general manager.

We will combine atmosphere, friendly and knowledgeable staff, and menu variety to create a unique experience for our diners and to reach our goal of high value in the fusion food niche.

Our gross margin is higher than industry average, but we plan to spend more on payroll to attract the best team.

We estimate moderate growth for the first two years while word-of-mouth about our restaurant spreads through the area.

4) Market Analysis

A market analysis is a combination of three different views of the niche you want to enter:

• The industry  as a whole
• The competition your restaurant will face
• The marketing  you’ll execute to bring in customers

This section should be a brief introduction to these concepts. You can expand on them in other sections of your restaurant business plan.

The restaurant industry in our chosen location is wide open thanks in large part to the revitalization of the city’s center.

A few restaurants have already staked their claim there, but most are bars and non-family-friendly offerings.

Fanty & Mingo’s will focus on both tourist and local restaurant clientele. We want to bring in people that have a desire for delicious food and an exotic atmosphere.

We break down our market into five distinct categories:

• High-end singles
• Businessmen and businesswomen

We will target those markets to grow our restaurant  by up to 17 percent per year.

Every restaurant needs a good menu, and this is the section within your restaurant business plan that you describe the food you’ll serve in as much detail as possible.

You may not have your menu design complete, but you’ll likely have at least a handful of dishes that serve as the foundation of your offerings.

It’s also essential to discuss pricing and how it reflects your overall goals and operating model. This will give potential investors and partners a better understanding of your business’s target price point and profit strategy.

We don’t have room to describe a sample menu in this article, but for more information on menu engineering, menu pricing, and even a menu template, check out these helpful articles from the Sling blog:

• Menu Engineering: What It Is And How It Can Increase Profits
• Restaurant Menu Pricing: 7 Tips To Maximize Profitability
• How To Design Your Menu | Free Restaurant Menu Template

6) Location

In this section, describe your potential location (or locations) so that you and your investors have a clear image of what the restaurant will look like.

Include plenty of information about the location — square footage, floor plan , design , demographics of the area, parking, etc. — to make it feel as real as possible.

We will locate Fanty & Mingo’s in the booming and rapidly expanding downtown sector of Fort Wayne, Indiana.

Ideally, we will secure at least 2,000 square feet of space with a large, open-plan dining room and rich color scheme near the newly built baseball stadium to capitalize on the pre- and post-game traffic and to appeal to the young urban professionals that live in the area.

Parking will be available along side streets and in the 1,000-vehicle parking garage two blocks away.

7) Marketing

The marketing section of your restaurant business plan is where you should elaborate on the information you introduced in the Market Analysis section.

Go into detail about the plans you have to introduce your restaurant to the public and keep it at the top of their mind.

Fanty & Mingo’s will employ three distinct marketing tactics to increase and maintain customer awareness:

• Word-of-mouth/in-restaurant marketing
• Partnering with other local businesses
• Media exposure

We will direct each tactic at a different segment of our potential clientele in order to maximize coverage.

In the process of marketing to our target audience, we will endeavor to harness the reach of direct mail and broadcast media, the exclusivity of the VIP party, and the elegance of a highly trained sommelier and wait staff.

8) Financials

Even though the Financials section is further down in your restaurant business plan, it is one of the most important components for securing investors and bank funding.

We recommend hiring a trained accountant  to help you prepare this section so that it will be as accurate and informative as possible.

Fanty & Mingo’s needs $250,000 of capital investment over the next year and a half for the following:

• Renovations to leased space
• Dining room furniture
• Kitchen and food-prep equipment
• Liquor license

Projected profit and loss won’t jump drastically in the first year, but, over time, Fanty & Mingo’s will develop its reputation and client base. This will lead to more rapid growth toward the third and fourth years of business.

Most entrepreneurs starting a new business find it valuable to have multiple formats of their business plan.

The information, data, and details remain the same, but the length and how you present them will change to fit a specific set of circumstances.

Below we discuss the four most common business plan formats to cover a multitude of potential situations.

Elevator Pitch

An elevator pitch is a short summary of your restaurant business plan’s executive summary.

Rather than being packed full of details, the elevator pitch is a quick teaser of sorts that you use on a short elevator ride (hence the name) to stimulate interest in potential customers, partners, and investors

As such, an effective elevator pitch is between 30 and 60 seconds and hits the high points of your restaurant business plan.

A pitch deck is a slide show and oral presentation that is designed to stimulate discussion and motivate interested parties to investigate deeper into your stakeholder plan (more on that below).

Most pitch decks are designed to cover the executive summary and include key graphs that illustrate market trends and benchmarks you used (and will use) to make decisions about your business.

Some entrepreneurs even include time and space in their pitch deck to demonstrate new products coming down the pipeline.

This won’t necessarily apply to a restaurant business plan, but, if logistics permit, you could distribute small samples of your current fare or tasting portions of new dishes you’re developing.

Stakeholder Plan (External)

A stakeholder plan is the standard written presentation that business owners use to describe the details of their business model to customers, partners, and potential investors.

The stakeholder plan can be as long as is necessary to communicate the current and future state of your business, but it must be well-written, well-formatted, and targeted at those looking at your business from the outside in.

Think of your stakeholder plan as a tool to convince others that they should get involved in making your business a reality. Write it in such a way that readers will want to partner with you to help your business grow.

Management Plan (Internal)

A management plan is a form of your restaurant business plan that describes the details that the owners and managers need to make the business run smoothly.

While the stakeholder plan is an external document, the management plan is an internal document.

Most of the details in the management plan will be of little or no interest to external stakeholders so you can write it with a higher degree of candor and informality.

After you’ve created your restaurant business plan, it’s time to take steps to make it a reality.

One of the biggest challenges in ensuring that your business runs smoothly and successfully is managing  and optimizing  your team. The Sling  app can help.

Sling not only includes powerful and intuitive artificial-intelligence-based scheduling tools but also many other features to help make your workforce management more efficient, including:

• Time and attendance tracking
• Built-in time clock
• Labor cost  optimization
• Data analysis and reporting
• Messaging and communication
• And much more…

With Sling, you can schedule faster, communicate better, and organize and manage your work from a single, integrated platform. And when you use Sling for all of your scheduling  needs, you’ll have more time to focus on bringing your restaurant business plan to life.

For more free resources to help you manage your business better, organize and schedule your team, and track and calculate labor costs, visit GetSling.com  today.

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This content is for informational purposes and is not intended as legal, tax, HR, or any other professional advice. Please contact an attorney or other professional for specific advice.

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Restaurant Business Plan Template

Written by Dave Lavinsky

Restaurant Business Plan

You’ve come to the right place to create a successful 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.

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 market, presents your marketing plan and details your financial projections.  

What are the Main Types of Restaurants?

There are many types of restaurant businesses which vary based on their service style. 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 or independent restaurant investors. Typically you will find a local bank and present your restaurant business plan to them. Most independent restaurant investors are in the restaurant business already and can be a valuable resource for advice and help with your business plan.

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.  

Sample Business Plan for a Restaurant Owner

Below is a business plan example to help you create each section of a comprehensive restaurant business plan.

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 business 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

A sample menu can be found in the Appendix of this business plan.

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 restaurant design, 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

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 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.

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.

Customer Segmentation

The target audience for Bluehorn Restaurant & Steakhouse will primarily include 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 of our direct competitors is below.

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 restaurant 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:

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 the entire 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 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

  You can download our free restaurant business plan template PDF . This restaurant business plan template can be used to create a finalized business plan for your restaurant concept.

• Sample Business Plans
• Food, Beverage & Restaurant

How to Write a Bar Business Plan + Free Template

Bar businesses are growing. Especially due to the increase in alcohol consumption and nightlife culture amongst the younger population.

But all of us know that a bar business is much more than just alcohol. It is also a good profession for people who like to socialize, talk to new people, and are lively and cheerful more often than not.

And the best part is no industry giant holds a huge chunk of the market in this business.

Sounds good, right? But before you go ahead and fulfill your long-standing dream of having a bar, you’ll need a bar business plan and we are here to help you with that, Here’s a quick overview of the industry.

Industry Overview

The bar industry stood at a massive market value of 25.09 billion dollars in the US in 2021. And is going through a phase of rapid recovery after being hit by the coronavirus pandemic.

The bar industry covers the broad spectrum of nightclubs, bars, and other such establishments that serve alcohol and snacks. The revenue for nightclubs also comes mainly from the sales of alcohol.

Increased acceptance of alcohol and an increase in disposable income of the younger population, mainly the millennials has led to the growth of the bar business.

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Things to Consider Before Writing a bar business plan

Get all the necessary licenses.

As a bar business staying on the right side of the law is more important than anything. Having all the necessary licenses and permits lets you run your business smoothly and without any chaos.

Here’s a list of licenses that you’ll need:

• Liquor License
• Food Safety Permit
• Fire Safety Certificate
• Music license

You might need more depending on the laws of your state and locality. Get all the necessary permits to avoid hassles as well as to ensure your customers and your own safety.

The location matters ( A lot )

In the case of a bar business, the location is usually the whole and soul of your business. The right location would be a preferred hangout spot for your target audience, easy to access, and not overly crowded.

The factor that the locality has your target audience or not would be a major deciding factor in your bar business’s success.

Know your target audience and their preferences

Knowing about your target audience gives your business the head start it deserves. Study everything from what your target audience prefers when it comes to food and beverages, what additional services they expect, What kind of vibe they prefer, and obviously, what is the right location to cater to them.

Have a unique theme

A major aspect of the bar industry is that it doesn’t really have any big players but several small businesses that compete with each other. And if you want to stand out amongst all the hustle and bustle it is important to have a unique theme that appeals to your target audience.

How Can a Bar Business Plan Help You?

A business plan helps you develop the right perspective toward the industry you plan on entering.

It not only helps you with market analysis and management but also acts as a guide in your business journey.

If you plan your business well, you get an edge over poorly managed entities and unaware owners who did not conduct market research before starting the business.

Specifically, when starting a bar business, a business plan helps you in making cost-effective decisions when you begin, so you don’t have to worry about haphazard finances later.

And as you know the benefits of having a business plan now, let’s discuss how to write an effective plan .

How to write an effective bar business plan?

Although you can write a business plan on your own from scratch, it is always good to get a little guidance when writing one.

Thanks to technology, there are several options available, and you can choose the one that fits the best for you.

You can either go to a business consultant, design your plan based on a predesigned template, or get a customized plan for your business through an online business plan software without going anywhere.

Chalking Out Your Business Plan

All businesses like bars, pubs, lounges, and nightclubs come under the aegis of the bar business. All of these are drinking places that primarily serve and prepare alcoholic beverages.

Moreover, it is an industry where there are no market leaders who hold a big share in the industry’s value, but small fragmented units amongst whom the industry’s value is distributed.

Now it might look like a lucrative business to enter, but a lot of bar businesses fail due to bad financial and employee management. They end up overspending and working their employees to the point of exhaustion.

You don’t have to worry about it though, the above problem has a quick and easy solution: A business plan.

Yes, you heard it right, a bar business plan can help you solve all the management and planning-related problems.

If you are planning to start a new bar business , the first thing you will need is a business plan. Use our sample Bar business plan created using upmetrics business plan software to start writing your business plan in no time.

Bar Business Plan Outline

This is the standard bar business plan outline which will cover all important sections that you should include in your business plan.

• Business Overview
• Mission Statement
• Guiding Principles
• Keys to Success
• Start-Up Summary
• Location and Facilities
• Products/Services Description
• Competitive Comparison
• Product/Service Sourcing
• Inventory Management
• Future Products/Services
• Market Size
• Industry Participants
• Market Share
• Applebee’s Pinto’s Bar and Grill 6706
• Cococabana Bar & Grill
• Flanigan’s Seafood Bar & Grill
• Market Segments
• Market Tests
• Market Needs
• Market Trends
• Market Growth
• Positioning
• SWOT Analysis
• Strategy Pyramid
• Unique Selling Proposition (USP)
• Competitive Edge
• Positioning Statement
• Pricing Strategy
• Promotion and Advertising Strategy
• Marketing Programs
• Sales Forecast
• Sales Programs
• Exit Strategy
• Organizational Structure
• Management Team Gaps
• Personnel Plan
• Important Assumptions
• Startup Expenses
• Startup Assets
• Source And Use Of Funds
• Profit & Loss Statement
• Balance Sheet
• Cash Flow Statement

Before you get started with writing your business plan, let’s understand each section in detail:

1. Executive Summary

An executive summary is the most important document of your business plan. It is crucial to get you funded as a business as it sums up everything your business stands for.

Chances are that the investors might not even read beyond this section.

Therefore, when you write it make sure you sum up your business idea and its functions properly.

2. Business Overview

In this section, you will include an overview of all the chief needs of your business.

In a bar business plan, the chief aspects would include the location and its accessibility, the legal rules regarding alcohol followed by the area as well as the primary legal formalities involved in running a bar.

3. Products and services

This section includes all the products and services you’ll offer.

Resources for getting the products, especially in the case of a bar business the formal procedures involved in acquiring alcohol should be included.

It is also good to note down the differentiating factor between your and your competitor’s product.

4. Market analysis

Market analysis is another crucial aspect of a business plan. It comes in handy while assessing strategies and techniques that work and do not work by analyzing your competitors.

It also helps you get information about the size of the market and its growth potential.

It helps you to know your target audience and segment of the market that forms the majority of your client base.

5. Marketing strategy and implementation

Based on market analysis, next up you’ll formulate your marketing strategy.

While formulating your marketing strategy you should always keep your unique selling point and target market in mind.

Apart from that your positioning in the industry is also a critical aspect of your strategy implementation.

In addition to all of the above, advertising strategy is an aspect a bar business has to pay special attention to, as a direct advertisement of alcohol isn’t allowed on various media platforms.

6. Organizational Management

This step is also especially important in a bar business plan to avoid overworking employees, create good and respectful relations amongst the team, and have strong teamwork.

You should also include various roles and responsibilities of different people in your organization as well as ways of tracking their performance in this section.

7. Financial Plan

A financial plan is important because it prevents you from overspending and optimally distributes your cash flow amongst various segments of your business.

Apart from that in a financial plan, you can also carry out an analysis of your financial history as well as  funding options for your business.

The above-mentioned order can help you write a well-rounded plan. But most importantly, while starting a bar business it is important to keep the legalities involved in mind.

You should always watch out for the current and potential alcohol laws that would have an impact on your business and frame your business strategy accordingly.

Hence, you should frame a business plan that is flexible and dynamic and thus, can help you succeed in the bar and pub industry.

Download a sample bar business plan

Need help writing your business plan from scratch? Here you go;  download our free bar business plan pdf  to start.

It’s a modern business plan template specifically designed for your bar business. Use the example business plan as a guide for writing your own.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Bar Business Plan Summary

A bar business can be extremely successful and smooth if you go about it with a business plan.

A business plan helps you keep all the facets from legal to financial ones in mind while running a bar business, thus making the process easier and quicker.

After getting started with Upmetrics , you can copy this sample bar business plan template into your business plan, modify the required information, and download your bar business plan pdf or doc file.

It’s the fastest and easiest way to start writing your business plan.

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Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Open a Bar in 10 Steps

Vivian Giang is a writer and editor. Her work has appeared in the New York Times, BBC, Fast Company, Marie Claire, Fortune, Slate and Business Insider, among others.

Robert Beaupre leads the SMB team at NerdWallet. He has covered financial topics as an editor for more than a decade. Before joining NerdWallet, he served as senior editorial manager of QuinStreet's insurance sites and managing editor of Insure.com. In addition, he served as an online media manager for the University of Nevada, Reno.

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 .

If you've ever spent an evening at a fun local bar, you may have wondered about whether you could run your own drinking establishment and be successful. This being said, if you're thinking that you might take that idea and turn it into a reality, you're now probably wondering how to open a bar in your neighborhood.

When it comes down to it, opening a bar is very similar to starting a small business of any kind — with the added aspect, of course, of serving alcohol to customers.

In addition, it's important to note that bars require around-the-clock maintenance, they need significant capital to get started, and they aren’t recession-proof . Therefore, you'll want to make sure you take the time and effort necessary to plan strategically in order to successfully open your own bar.

1. Create a business plan

A business plan is an important document for any kind of small business. When learning how to open a bar, it's practically a requirement.

In short, your business plan is a written plan that takes you from inception to success and will cover your company's value proposition, the location and team, the industry you're entering, your legal structure, products and services, how you plan to market yourself, financial projections and any other additional information that will point you toward long-term growth and profitability.

Overall, this plan will help guide each of the other steps required to open a bar — and therefore, you can refer back to it often and tweak it as necessary as your plans change or pivot.

Plus, you'll not only use your business plan as a roadmap to long-term success, but also to attract investors and funders, as well as to explain your concept to potential partners.

Use our guide to writing a restaurant business plan for more insight into creating a business plan for this specific type of industry.

How much do you need?

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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.

2. Find the right location

Just as with any small business, choosing your business location is integral to your short-term and long-term success. If you’re going to be the neighborhood bar, you better know the people you’re serving.

During the planning stage, you can consider contacting your local chamber of commerce to get information on your target market. Are you catering to college students, blue-collar workers, the art crowd, or conservative suburbanites?

You might also choose to work with a real estate agent who is familiar with the area and can help you find the best location at the most affordable price. As renting or buying your storefront will be one of the largest upfront costs associated with opening a bar, you'll want to make sure your real estate agent has experience working with tenants and who can help you navigate the leasing process.

3. Register your business

You can’t run a business without proper registration. The requirements for registering your bar depends on the city and state where your business operates. Like starting any new business, though, you'll want to acquire an employer identification number for tax filing purposes and register your business with local authorities.

You will also need to choose an appropriate business entity type. The four most popular entity types, or legal structures, are:

Sole proprietorship.

General partnership.

Corporations.

Limited liability corporations.

While sole proprietorships or general partnerships are the easiest entities to set up, they don't offer personal liability protection — meaning if someone sues your business, your personal assets may be seized. Since bars tend to have greater legal risks than other businesses, you should consider setting up an LLC or corporation. A business attorney who's experienced in the industry can help you make the best decision for your bar.

4. Choose a business name

Choosing a business name for your bar is a big part of your business’s brand identity.

Your business name should be memorable, represent your business in some way and most importantly, not already registered by a competitor. You can check to see if your business name has already been taken by checking your secretary of state’s website.

You’ll also want to ensure that if you’re making a business website that the domain name hasn’t already been taken. If you plan on marketing your business on social media sites, checking platforms such as Facebook and Instagram is also essential.

5. Obtain licenses and permits

When you're learning how to open a bar, business owners often forget about the hassle that comes with permits and licensing — make no mistake — alcohol is a heavily regulated business.

First, you’ll need a license from the Alcohol and Tobacco Trade and Tax Bureau , or TTB, the entity responsible for enforcing laws “regulating alcohol production, importation and wholesale businesses; tobacco manufacturing and importing businesses; and alcohol labeling and advertising.” This process will take anywhere from six to 12 months to complete. The TTB will need to inspect your business and conduct background checks on directors, officers and owners.

Next, you’ll need to get liquor licenses at the state and local level. If you plan on serving food, you’ll also need a food seller’s permit.

Once you obtain the necessary business licenses and permits, you'll want to be sure your bar is kept up to code as food and alcohol businesses are often subjected to inspection.

6. Find suppliers

Satisfying patrons can either make or break your business. That’s why finding good suppliers for your bar is an absolute must.

When you’re looking for quality suppliers, we suggest connecting with your neighboring bar owners and see if they can refer you to their go-to vendors. We also recommend making a list of all the supplies you want and creating a business budget for them.

Once you have those in check, you can start shopping around. Online suppliers are also another worthwhile option because they generally have discounts, but beware — not all of them are as trustworthy as others. Here are some things you should know about the supplier before doing business with them:

How long they’ve been in business,

References,

Minimum order amount,

Payment terms,

Quality assurance process,

Remember, a supplier should be willing to work with you and understand exactly what it is your business needs. If you have a bad experience with a vendor, don’t be afraid to look for a new supplier.

7. Secure funding

From furnishings to point of sale software to insurance to licenses, getting your business off the ground requires you to think about getting funding for your bar.

How much does it cost to open a bar?

The average cost to open a bar varies widely depending on your location, but typically ranges from $110,000 to upwards of $500,000. Purchasing a pre-existing bar or opening a specialty bar (like a winery or micropub) is a cheaper option, although it can still cost you around $25,000 to get started.

Plus, once your bar is up and running, you'll still have significant ongoing costs for payroll, inventory, rent, insurance and more.

Therefore, if you're wondering how to open a bar with no money — and even if you do have some initial startup capital — you'll need to look into financing options for your venture.

A good place to start is with a business credit card , which can help cover the costs of small- to medium-sized purchases while also helping you earn up reward points.

In addition, you may want to look into startup business loans , short-term loans and other forms of business funding from either your local bank or an online lender. Whatever costs you have and your ability to pay them back should be covered in your business plan.

With the importance of this step, you'll want to take plenty of time to figure out what your startup costs look like and what type of financing will be best for your bar.

8. Design your bar

A bar is meant to be a welcoming space for people looking to unwind or socialize with friends. The same principles of designing a restaurant, therefore, can also be applied to bars.

You'll want to think about the atmosphere and how to efficiently utilize the space. You can set the tone of the bar by playing with lighting and choosing fixtures that differentiate your bar from everyone else’s. You’ll also want to pay close attention to how you design the bar stations; you may want to use several registers so that bartenders aren’t getting in each other's way to ring up customers.

Another major part of designing a bar is the bar tops, which can be thought of as the centerpiece of your bar. Bartops are usually made out of glass, stone, or wood materials, but keep in mind that each material has its drawbacks and benefits.

9. Develop your marketing strategies

Ask any business owner in the bar and restaurant industry: Competition is fierce. People are always searching for the latest and greatest places to eat and drink.

As a bar owner, you need to develop strong marketing strategies if you want your business to last. To bring in new and repeat customers, you should present your bar in the best light possible.

This includes incentivizing customers to write honest reviews on sites such as Yelp, investing in high-quality photos to showcase your drinks and building a stunning website.

10. Pick a reliable POS system

Before you can officially open your bar, you'll need to pick a POS, or point-of-sale, system.

Although there are a variety of options when it comes to bar or restaurant POS systems, the right POS system should (at the very least) help facilitate your business operations. And contrary to popular belief, you don’t necessarily need an expensive POS system. POS systems generally will cost you a monthly fee plus a small fee for credit card transactions.

Therefore, a reliable POS system should help you easily process payments, orders and sales. Three of the best POS systems for bars are:

Square : Good for small businesses.

Toast : Best for midsize businesses.

TouchBistro : Best for high-volume transactions.

LLC Formation

The bottom line

It may look easy, but running around catering to patrons can be physically and mentally exhausting. There are many long days and nights associated with learning how to open and run a bar.

Once you've filed all of the paperwork and licenses, however, opening a bar becomes a little easier. As long as you have a clear vision for the design and work tirelessly to provide excellent customer service, people will come back.

And if they do, you'll be able to take advantage of word-of-mouth marketing — which be one of the best ways to promote your bar in the local community.

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

On a similar note...

How to Write a Bar Business Plan + Free Sample Plan PDF

Elon Glucklich

6 min. read

Updated March 17, 2024

Free Downloads: Sample Bar and Brewery Business Plan Templates

From sports bars to neighborhood pubs to upscale cocktail bars—drinking establishments are one of the oldest and most enduring types of businesses.

And the industry is projected to grow nearly 2.5% between 2023 and 2030, leaving plenty of opportunity for new businesses..

But competition in the bar industry can be fierce. You need to know your clientele, competitors, and how you’ll stand out if you want to succeed. Not to mention mapping out all the details of your financials and operations. 

Luckily, you can cover all of that (and more) by writing a business plan.

• What should you include in a bar business plan?

These are the typical sections to consider including in your bar business plan.

• Executive Summary
• Market Analysis
• Marketing and Sales Strategy 
• Operations Plan
• Business Overview

Financial plan

The sections you need will vary depending on why you’re writing a business plan and what you intend to do with it . 

Suppose it’s to manage your operations and not something you expect anyone outside of the business to read. In that case, consider keeping it to a few pages and skipping sections like the executive summary.

If you’re applying for a loan, then you’ll need a more formal plan that includes all the sections listed above.

Check out our step-by-step guide to writing a full business plan for more details.

• The 6 elements of an effective bar business plan

Executive summary

Your executive summary is a short, high-level overview of your entire plan. 

The summary should give readers a sense of what factors will make your bar successful. That could include securing a high-visibility location, partnering with a chef who will oversee meal preparation, or negotiating deals with brewers to get their beers in your bar.

If you’re seeking a bank loan for your bar, the lender will read your executive summary first. In all likelihood, they won’t read any further unless the executive summary grabs their attention. 

So, make it clear and convincing.

Market analysis

The market analysis may be the most important part of your entire business plan. 

It’s where you carefully research and document:

• Who your target customers are
• What they want
• What other establishments they may consider

Start by identifying the size of your market . Focus on the number of potential customers above the legal drinking age in your area. Then, segment these customers based on demographics such as age, income level, and lifestyle preferences. 

Then look into who you will be competing with. List and research other bars as well as indirect competition from restaurants, clubs, and even grocery stores that sell beer or home entertainment options.

Here are a few examples of what this process will look like:

Bar customer segmentation

If you find there are a lot of college students and younger adults near your bar location, you should cater your offerings to their tastes. But if you’re near office buildings or event venues, you may want to focus on older customers with more disposable income.

Will you offer a more diverse drink menu, better food, or a unique theme? Explain how these factors will set your bar apart and attract customers. Or, if your area lacks a certain type of bar, such as a sports bar or a high-end cocktail lounge, describe how filling this gap in the market will serve as your competitive advantage.

Marketing and sales strategy

Your market analysis gives you insights into potential customers. Your marketing and sales strategy is where you use those insights to get those customers in your door.

As you looked around at your competitive landscape, maybe you gained some insight into how your ideal customers discover new bars — through social media, online reviews, local event listings, or word-of-mouth.

Start by developing marketing strategies that are tailored to those channels . Consider tactics like:

• Creating engaging social media content showcasing your unique drinks, events and ambiance.
• Partnering with local businesses or events to increase visibility.
• Introducing special promotions to encourage repeat visits and attract new customers.
• Hosting themed nights or events to create buzz and attract specific customer segments.

In your business plan, document how you will implement these efforts and the resources required. 

Operations plan

The operations section of your business plan is where you detail the day-to-day requirements for running the bar smoothly. Start by describing your physical space and key equipment, such as:

• Beverage dispensing systems
• Glassware and utensils

Specify the types and number of each that you’ll need. Then you can address staffing needs, describing the roles of bartenders, servers, and support staff. Document in your plan that you’ll have a staffing strategy to cover peak hours.

You should also cover inventory management. Describe how you’ll stock alcoholic and non-alcoholic beverages, ingredients for cocktails and food. Be sure to spend time discussing supply chains for sourcing these ingredients.

Document the types of technology you’re using, like point-of-sale systems, inventory tracking, or customer reservation platforms. 

Finally, ensure that your operations plan demonstrates how you will comply with any licensing, health and safety regulations and that you have a plan for ensuring responsible customer behavior.

Business overview

The overview should fill in any gaps the reader may have, including:

• The name of your bar
• When it was founded (if it’s an existing business)
• The inspiration behind the business

You should include the background and qualifications of key team members here. Include their experience in the bar industry and any other experience that’s relevant to their position.

If you’re running an existing bar, discuss previous achievements like revenue milestones, recognitions, or community events you’ve hosted.

You don’t need a deep financial background to run a successful business. But it’s important to develop projections for how you expect the bar to perform. If you’re starting a new bar, consider that you’ll need to pay upfront costs like equipment, supplies, licenses and rent.

Then there are the ongoing costs like employee salaries, marketing, and continuing to keep your shelves stocked.

Making educated guesses about the future will help you determine what’s working, and where you should make adjustments as you run your business.

Include sales and expense forecasts in your plan. The financial section also should include a cash flow statement , income statement , and balance sheet .

Remember, no one knows exactly how the future will pan out — these projections are your baseline for how you think the business will do, and you’ll adjust them over time as you update your plan with actual results.

• Bar business plan templates and examples

To see how other bar businesses have created their plans, browse our free library of bar and brewery business plans . You can also check out our full selection of food and beverage business plans , or our entire library of over 550 business plans across industries.

Download as many as you want in PDF or Word format to help you write your own business plan.

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Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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Home >> #realtalk Blog >> Manage a business >> Restaurant Business …

Restaurant Business Plan Template: Grow Your Business the Right Way

By Homebase Team

Planning the best way forward for your new restaurant can be a daunting task. Whether you’re living the dream of opening your own restaurant or reworking your existing concept, a restaurant business plan template takes a ton of stress out of writing a business plan.

In this article, we walk you through how to create a restaurant business plan so you’re not stranded in a quagmire of confusing priorities and too many ideas. Even better, we’ve created a free restaurant business plan template to form the operational foundation as you put one together! As you follow through our guide, feel free to download, customize, and reference our template to help you put your restaurant on the path to success.

To start, let’s go through all the ways a written business plan helps shape your restaurant, and why it boosts your business’s chance of success.

What is a restaurant business plan?

A restaurant business plan is a written document that lays out an overview of a restaurant, its objectives, and its plans for achieving its goals.

A business plan is a necessary tool for restaurants of all kinds and sizes. It can be a handful of pages long or much more detailed. A well-written restaurant business plan not only helps you organize your ideas, it’s also a key part of getting investor funding .

Why you need a business plan. 

Creatively, opening a new restaurant can be incredibly exciting. But it’s also super complicated. From licenses to equipment to building a team, each phase needs a lot of attention to detail.

Before you jump in, it’s important to shape your plan of attack, organizing your business ideas into a clear, concise narrative that an outsider could easily understand. A business plan is an essential part of this, as it  helps you:

Set short- and long-term goals.

A restaurant business plan not only shows how your business will operate in its early stages—it also shows what steps it’ll need to follow as time goes by. Setting both your short and long-term goals at the outset makes you more likely to achieve them. Short-term goals may include meeting current staffing needs, while long-term goals may include five-year growth forecasts and the steps involved to get there.

Understand your resource needs.

Going through the exercise of writing a restaurant business plan is as important as having the finished document in front of you. As you organize your thoughts, your resource needs—from the amount of capital you need to raise all the way down to the equipment you need to find—will take shape. 

Reduce potential risks.

Sadly, some 60% of restaurants fail within the first year of opening. One of the main reasons? A failure to plan. Your business plan will help you plan for most challenges at your restaurant before they come up, keeping you on the right side of that number.

Some of the risks your restaurant faces might include:

• Crowded market.  One key component of your business plan is conducting market research. How will you ensure your restaurant stands out?
• Supply chain issues.  Especially if your eye is toward growth, you need to know how to affordably, reliably, and sustainably keep your restaurant stocked—long-term. Why not track supply strategies as part of your business plan?
• Health and safety.  Are you compliant with health regulations? How will you know? Your business plan is one great place to outline compliance protocols, keeping you and your team informed.

Develop a marketing strategy.

As you do your market analysis and figure out your ideal customer, the ways you’ll promote your business will get clearer. The more specific you are with your market research, the easier and more effective your marketing efforts will be.

Build your team.

Your business plan helps you see who you’ll need on your team and which roles you’ll need to fill first . For investors, your business plan is a document showcasing everyone’s collective experience, personalizing your restaurant in their eyes and packing a professional punch. This can include everyone from your head chef to your star hostess. Make it clear how you’re filling your hospitality niche!

Share your vision.

Whether you’re using your business plan to secure startup funding or need additional capital after you’ve already opened, your restaurant business plan shows an investor or lender exactly why they should get behind you. Your business plan should detail where you began (or hope to begin), where you are now, and where you intend to go—as well as how.

The 9 elements of a strong restaurant business plan.

Your restaurant business plan will be unique to your restaurant’s vision. But all good business plans hit standard points, and whoever reads yours will expect to see certain elements. As you develop and finalize your ideas, here are nine key elements your business plan should include. 

1. Executive summary

A strong restaurant business plan begins with a strong executive summary. This is a sharp, concise overview of your restaurant—and your  best opportunity to grab people’s attention.

Here’s where you communicate, in a nutshell, what kind of restaurant you want to run. Which demographic will you be targeting? Why is your business something the community wants or needs? Especially if you’re asking for financing, include a snapshot of your financial information and growth plan as well. 

Your executive summary should briefly lay out:

• Your mission statement. Why are you starting this restaurant now, in this location? 
• Your idea. What’s the concept of this restaurant?
• Your plan of execution. What are your key steps to making this concept work?
• Your potential costs. What are your expected expenses?
• Your anticipated ROI. How much do you expect your restaurant to make?

Many investors will make a split-second decision off of the executive summary alone. It might be all they’re going to read, so make every word count.

2. Company description

Now it’s time to let your creativity out and give your restaurant concept life. Give a more detailed description of your concept that lets your passion for what you’re creating come through. 

Flesh out all the other details of your proposed restaurant, including your restaurant’s:

• Style of cuisine
• Any unique selling points or differentiators that will make customers choose you—for instance, aesthetic or celebrity chef
• Service style
• Restaurant name (or at least ideas)
• Size, seating style, and capacity
• Location ideas— or the location you’ve scouted or secured
• Ambiance ideas, including décor, lighting, and music
• Operating hours
• Other service offerings, like whether you’ll offer delivery or takeout, delivery guarantees, catering, and any retail products you plan to sell
• Legal structure (e.g., sole proprietorship, LLC) 
• Existing management and their roles, including yours
• Experts or advisors you’ve brought on board

3. Market analysis

Present the research you’ve done on your target market. Make a couple of buyer personas to represent your future customers, explaining:

• Where your target customers live
• Their income levels
• Their dining-out and/or ordering-in pain points (e.g., lack of late opening hours, lack of family friendliness)
• How often they dine out or order in

Go through which other restaurants already have a customer base in your area, then explain why people will choose your restaurant over others. 

4. Sample menu

Even at the business plan stage, menu engineering is crucial. The specific menu items you’re likely to serve—the biggest thing that will set you apart—should shine through with descriptions that are short, clear, and evocative. If you have an executive chef already, this is a great area for them to add input.

Use language that will get people excited about trying your offerings. Hire a designer or use an online program to create your own mockup using the same colors, fonts, and design elements as the rest of your branding. 

5. Business structure

Dive deeper into your business structure (sole proprietorship, partnership, LLC, etc.) and organizational management. Show what your different employee positions will be (co-founders, managers, servers) to give a sense of your team’s makeup. An organizational chart can be helpful here.

Investors won’t expect you to have your entire team on board at this stage, but you should have at least a couple of people firmed up. For the roles that are already filled, including your own, summarize your collective experience and achievements. Bullet points work well, or some people choose to go into more detail with full resumes for the executive team or critical team members.

6. Restaurant design and location

Long before you sign a lease, make sure that your new offering will outshine existing ones nearby. In this section of your business plan, explain why your chosen location, or the ones you’re narrowing down, are going to be an effective space for your target market.

Consider things like:

• Neighborhood demographics
• Foot traffic
• Labor costs
• Accessibility

Hand in hand with location, your restaurant’s interior design—both in its floor plan and its ambiance—is also crucial to your business’s viability. Come up with a captivating restaurant design that communicates your theme and matches your cuisine, creating a memorable customer experience. Decide how many tables you’ll be serving, and plan out any outdoor seating.

Touch on things like:

• Team uniforms
• Flatware and glassware

7. Marketing strategy

How do you plan to market your restaurant? Your plan for grabbing customers’ attention is vital to getting diners through the door, especially at the beginning before word-of-mouth advertising has taken off.

What kind of offers will you provide? Will you have promotional events, direct mail, or a social media strategy ? Go through your planned marketing campaigns and explain how each of them will help secure your target market. 

8. Takeout and delivery options

If you’ve decided to have takeout and delivery at your restaurant—pretty important for most target markets—decide whether you’ll use your own drivers or a professional fleet like Uber Eats or DoorDash.

Show how you’ll provide the smooth digital experience your customers will expect. Decide if and how your website will come into play, bearing in mind that in 2023, 40% of consumers preferred to order directly from the restaurant website .

9. Financial projections

Your restaurant’s projected budget need to be solid, especially if you’re using your business plan to get startup funds. Without a budget, investors have no way of knowing if your business is a good investment or when it will become profitable.

One way to make sure your projections are rock solid is to hire an experienced accountant with expertise in running restaurants. Make sure you’re keeping track of market research, planned costs , and projected income. Show how investor funds will be used and whether you’ll be putting up collateral to get a loan. You’ll also score bonus points with a sales forecast for the next five years. Make sure to include a break-even analysis!

One free restaurant business plan template, coming up. 

As the team behind Homebase , we know how much there is to consider when you’re starting a new restaurant. We’re proud to be an all-in-one partner for thousands of restaurants large and small—helping make everything from staffing, to scheduling, to team communication easier for business owners.

And we know that your restaurant business plan is a high-stakes document. That’s why we created our free restaurant business plan template to make sure nothing gets overlooked.

Check out our free, downloadable template to get your ideas into shape, get started on your restaurant journey—and get investors excited to jump on board with you. 

Download your restaurant business plan template for free: Restaurant business plan + free template PDF

Stop chasing down phone numbers with our built-in team communication tool. Message teammates, share updates, and swap shifts — all from the Homebase app.

Restaurant business plan template FAQs

What is the basic planning document for a successful restaurant.

The basic planning document for successful restaurants is a restaurant business plan. A restaurant business plan lays out a restaurant’s long and short-term goals and its plans for achieving those goals. Restaurant planners use it both to finetune their ideas and to secure investor funding.

How to write a restaurant business plan.

When writing a restaurant business plan, include an executive summary, a detailed restaurant description, market analysis research, a sample menu, a breakdown of your business structure, the design and location of your restaurant, your planned takeout and delivery options, your marketing strategy, and your financial projections.

What makes a business plan template for restaurants different from a standard business plan?

A restaurant business plan template differs from a standard business plan by including things like menu engineering, interior design, kitchen operations, front-of-house management, takeout and delivery offerings, and location analysis, which are unique to the food service industry.

Remember:  This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.

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Welcome to the Money blog, your place for personal finance and consumer news and tips. We'll be back with updates on Monday - meantime, browse through some of our best features below.

Friday 5 July 2024 09:31, UK

Essential reads

• Savings Guide:  Savers have a rare opportunity - but it might be the last hurrah
• Cheap Eats : Two Michelin-starred chef reveals his favourites in Birmingham
• Women in Business : 'We don't get invited to golf' - The women who coordinated pregnancies to start virtual cancer care business and raised £5m
• Basically... What is income tax?
• Money Problem : 'I hired a car via EasyJet but they are directing my complaint to someone else - what can I do?'
• Best of the Money blog - an archive

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The Money blog will return on Monday - meantime, why not scroll through some of our best and most popular features below...

John Lewis is keeping its school uniform prices frozen for the fourth year running.

The department store chain also offers parents an online school uniform checklist to help prepare for the start of the new year.

It also offers a free shoe-fitting service, while some of its newer school uniform products released in the last three years have not seen a price rise.

John Lewis school uniform buyer Cydney Ball said: "Our customers trust us as the one-stop-shop for all things back to school."

Cineworld is drawing up plans to axe dozens of British cinemas as part of a radical restructuring that would also include extensive rent cuts.

Sky News has learned that the company, which until last year was listed on the London Stock Exchange, is considering closing about a quarter of its roughly-100 British multiplexes.

Cineworld also wants to renegotiate rent agreements at a further 50 sites, with the remaining 25 untouched by the restructuring.

Sources said the proposals were expected to be formally outlined to creditors including landlords in the coming weeks.

Read the full story here...

A safety charity has warned England fans against buying cheap electronics online amid a "blitz" of advertising.

Electrical Safety First is urging fans bombarded with ads for discounted goods "don't bring it home" in a new campaign to raise awareness of unregulated online marketplaces.

The charity have previously uncovered substandard and dangerous electrical products across major online marketplaces.

Examples of such include portable heaters posing a serious risk of electrocution, hair straighteners and hair dryers featuring illegal UK plugs and e-bike chargers that pose a fire risk.

"Football, and other global sporting events, are experiencing advertising blitzes by major online marketplaces across the globe, and at a time when millions of people are struggling with finances, we understand how appealing low-cost deals will be," said Electrical Safety First's chief executive Lesley Rudd.

"But it's important for fans to remember that they risk scoring an own goal if the deal they bag turns out to be a substandard or dangerous product.

"Substandard electronics can have serious consequences for your safety and an innocent purchase could put you and your family at risk."

The charity makes the following suggestions to consumers selecting electronics from online marketplaces:

• Pay attention to the plug - if a product is listed with a foreign plug and travel adaptor, do not buy it.
• Do not buy on price alone - not all bargains are worth it
• Make sure you do your homework if you decide to buy products below high street retail prices.
• Beware of a product with solely glowing reviews, especially if the reviewers are not verified.
• Make sure you know where the supplier is based - a "co.uk" URL doesn't guarantee the website is UK-based.
• If there is no address supplied, or there is just a PO Box, be wary; many dodgy electrical goods are manufactured overseas.
• Look for websites that allow you to pay safely – these have a padlock symbol in the address bar of the website you are visiting. If you cannot see it, do not enter your payment details.

Consumer spending on car purchases has risen three times faster than for public transport journeys, new figures show.

Around £57.4bn was spent in the UK on new and used cars in 2023, up 6% on five years earlier, according to AA analysis of Office for National Statistics data.

By comparison, consumer spending on public transport - including rail, buses, flights and taxis - was £60.9bn, representing a 2% increase on five years ago.

AA head of roads policy Jack Cousens claimed the figures highlight how vital motoring was for people in the UK, as well as the country's finances.

He said: "These latest ONS figures underline the UK's reliance on cars and the huge amounts of money they generate for the economy - not to mention VAT on that spending, and other tax.

"Cars are not just necessary but essential on so many levels. Even if a significant amount of car use was transformed into take-up of public transport, the impact on the economy and other income generation would be dramatic.

"Just think how much councils would lose if a high percentage of cars stopped turning up to their car parks or needing parking permits, and getting fined.

"The key question is whether what consumers spend on cars would translate into income for public transport and cover the cost of infrastructure investment to enable that.

"It seems that getting travelling consumers to fork out for their own transport and its maintenance, and then tax the heck out of them, is a pretty good deal for the public purse."

Running a car also accounted for a large chunk of the £78.6bn spent on what is described as the operation of personal transport, with spending on fuel and lubricants up 20% since 2018 to £41.7bn.

New car purchases down

But despite the fact more consumers are spending money on cars than on public transport, the number of purchases of new cars by private buyers has declined for nine months in a row, new figures show.

The Society of Motor Manufacturers and Traders (SMMT) said 67,625 new cars were registered by private consumers in June, down 15.3% from 79,798 during the same month last year.

Ian Plummer, commercial director at Auto Trader, said: "With average new car prices rising almost 40% over the last five years, it's clear cost is the culprit.

"Manufacturers are responding with discounts but they're failing to keep pace, which is forcing many buyers to opt for a used alternative.

"Whoever forms the next government needs to address electric car affordability and provide long-term stability for the market."

Environmental impact

Despite comments from the AA, the billions of pounds spent by consumers every year on cars is having a clear effect on UK roads - where overall traffic levels in 2023 were 2.2% higher than the previous year.

More cars on the roads means more air pollution, which is among the biggest environmental health risks facing people in the UK.

Burning petrol and diesel fuel creates harmful by products like nitrogen dioxide and carbon monoxide, while vehicles emit carbon dioxide, the most common human-caused greenhouse gas.

Even electric vehicles produce particulate matter from the friction between their tyres and the road.

Researchers from University College London estimated that 48,625 adults die prematurely each year in the UK due to particulate matter pollution. 

Presently, 79% of the UK exceeds the World Health Organization's (WHO) annual mean guideline for safe fine particulate matter levels. 

A Greek restaurant has faced criticism for its "rip off" prices.

Holidaymakers have been warned to stay away from DK Oyster on the popular holiday island of Mykonos, which has received swathes of bad reviews on  Tripadvisor .

The restaurant, which describes itself as being an "oasis of ultimate luxury and extravagance", has an average star rating of two on the website - although, in the interests of balance, it has 4.8 on Google reviews.  

Angry punters say they were lured into buying a drink at DK Oyster after being told the sunbeds were free, only for the prices for those drinks to be sky-high.

Among the latest to complain is Lori E, who said she returned home from her Greek holiday to see a charge of $876 (£690) for two drinks.

She wrote: "Total rip off! Make sure you get a receipt before leaving and check your credit card because they over charge. 

"Was told beds were free to sit it if we order food or drink. No problem....ordered 2 drinks which we afterwards saw were 51 euros each. 

"If that wasn't crazy enough we returned to the states and had a $876 charge on our account. FOR 2 DRINKS!!!"

The tourists are now trying to dispute the charge with their credit card company after never receiving a paper copy of a receipt.

Responding to the Tripadvisor review, DK Oyser said: "Our sunbeds come with minimum consumption, so we encourage all visitors to check the menus, before placing their orders. 

"I would like to note that our menus are displayed on blackboards near the entrance, showing the prices of our food and drinks to keep our guests informed."

Other reviews claim DK Oyser charged them £253 for sea bass and £100 for a jumbo shrimp that "wasn't cooked properly".

DK Oyster has been contacted for comment.

Iceland is set to partner with parenting website Mumsnet to launch a range of children's products.

Mumsnet CEO Justine Roberts, and the brand's partnership director Sarah Murray-Muncila, met with members of Iceland's innovation team last week to work on the products.

According to The Grocer , the new products will hit the stores in early 2025.

"We've been working on something truly special in partnership with Iceland Foods," Mumsnet said.

"Big things are happening for little ones."

Iceland has launched several new collaborations in recent months, including exclusive products with brands such as Slimming World, MyProtein and boxer Tyson Fury's Furocity.

It's not just a big day in the UK with voters heading to the polls but also in the US with 4 July celebrations taking place.

And there's plenty to celebrate for those with a stake in US stocks. 

Last night, there was another record high for the S&P 500 index that tracks the share price performance of the 500 largest companies listed on US stock exchanges.

The performance of companies on the tech firm-heavy New York-based NASDAQ too reached a new high.

It came as Elon Musk's Tesla saw its share price reaching a six-month high, along with the rise and rise of trillion-dollar AI microchip maker Nvidia.

Today and tomorrow will likely be quieter as the US markets close. 

In the UK, both the Financial Times Stock Exchange (FTSE) 100 and 250 indexes are up - 0.76% in the list of 100 most valuable companies and 0.42% in the 101st to 250th most valued firms. 

While the pound does by buy less euro than it did earlier this month, with £1 equal to €1.18 it's still buying more than during most of the last year.

Against the dollar, sterling has held the gains of the last few weeks and a pound will get you $1.2749. 

There is no let up for motorists as the oil price is sticking around the two-month high mark. A barrel of the benchmark Brent crude oil costs $86.59.

As house prices continue to rise, so too does the age at which young people can expect to own their own home. 

Unfortunately, even the ceiling of the term "young people" isn't far off from being challenged - with fresh research suggesting that the average age of a first-time buyer in the UK is 33 years and 8 months old, according to Mojo Mortgages . 

In comparison, in 1960, the average first-time buyer was 23 years old, according to separate research by Keepmoat Homes. 

Comparatively, however, the average age of a first-time buyer in 2014 was 32 years, 6 months old, according to the Office for National Statistics. 

During the same period, the average price of a house in the UK rose from around £188,000 (January 2014) to £282,000  ( January this year). 

Back to today's figures - and those in Wales are able to buy their homes the youngest, with the data suggesting the average first-time buyer there is 31 years old. 

Naturally, the older you buy a home, the later in life you'll pay off a mortgage. 

With an average mortgage length of 30 years, it seems the average UK first-time buyer isn't expected to be mortgage-free until they are 63 years and 8 months old.

And if you live in the capital, you'll surpass the current retirement age at 66 years, 8 months. 

Here's a full breakdown of how old first-time buyers are, the average mortgage length and age they can expect to be mortgage-free by region... 

A lot of people have had to renegotiate or extend their mortgages thanks to soaring interest rates in recent years - and the data from Mojo tells us a little about that too.

The study found extending your mortgage term by 10 years (to 35 years) will cost today's average first-time buyer an extra £110,640, which may impact later life planning and their pension.

Barclaycard is cutting the minimum amount its customers have to repay each month.

While the move may sound like good news on the surface, it could well mean you're in debt for longer and end up paying more interest. 

At the moment, most Barclaycard customers have a minimum repayment of 3.75% of their balance, 2.5% of their balance plus interest, or £5. 

But, from 22 July, that will change to the highest amount out of: 

• 1% of their balance
• 1% of their balance plus interest

This means if you are currently only paying the minimum on your card, you'll likely repay less each month. 

But, minimum amounts are designed to keep people in debt for as long as possible, and lowering them just makes this period even longer.

MoneySavingExpert says the change means it could now take a customer with a £1,000 debt an extra decade to pay it off, if they only pay the minimum amount.

On average, it says it will take 19 years and three months to clear and the interest will total £1,655. 

Founder of MoneySavingExpert Martin Lewis says the change is "worryingly under the radar" and urged customers to check if their repayments are set to the minimum amount.

"Minimum repayments have always been credit card firms' secret weapon. Letting people repay little looks appealing – hence why Barclaycard says this is about 'flexibility'. Yet it takes flexibility to kick your own backside, and this will hurt some just as much," he said.

A Barclays spokesperson told Sky News: "We regularly review our products and from July, some Barclaycard customers will see changes to their minimum monthly payments, alongside adjustments to the APR.

"Customers will benefit from a reduction in their minimum monthly repayment and the vast majority have no change to APR, while some will receive a decrease.

"We have made these changes to increase flexibility for our customers and have been clear in our communications that paying more than the minimum can help customers clear their balance sooner and pay less interest." 

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• Local & State
• Arts & Entertainment

Spirited ‘Funny Girl’ captures excitement of early musical theater

The show that made Barbra Streisand famous is playing at Maine State Music Theatre through July 13.

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Jenna Lea Rosen as Fanny Brice with the cast of “Funny Girl” at Maine State Music Theatre. Photo by MSMT/Jared Morneau Photography

Who are the luckiest people in the world? At least for theater fans, the answer is “people who need people,” a line made famous well over half a century ago by Barbra Streisand in the original production of the musical “Funny Girl.”

THEATER REVIEW

WHAT: “Funny Girl: the Musical” by Maine State Music Theatre

WHERE: Pickard Theater, Bowdoin College Campus, Brunswick

REVIEWED: June 28 (matinee); continues through July 13

TICKETS: Starting at $93

CONTACT: 207-725-8769, msmt.org

On the heels of the show’s recent Broadway revival, the Maine State Music Theatre has opened a spirited production of the classic musical on its home stage at the Pickard Theater on the campus of Bowdoin College in Brunswick.

The show primarily captures the rousing excitement of early musical theater while unavoidably making us think about how it launched the career of Streisand. At a lengthy but enjoyable two-and-one-half hours, plus intermission, it’s a show that still charms with its memorable songs, old-style comedy and bittersweet love story.

The impressive production, directed and choreographed by Kenny Ingram and with the time-honored music of Jule Styne, lyrics by Bob Merrill and book by Isobel Lennart, tells the semi-fictionalized story of Fanny Brice, a real-life figure who rose from humble origins to showbiz stardom as a give-it-everything-you’ve-got performer in the early 20th century.

At first socially awkward and vulnerable, but with a unique talent and an admirable determination to succeed, Fanny gained the attention of famed impresario Florenz Ziegfeld, Jr. and went on to star in many of his glitzy stage shows. At the same time, Fanny’s personal life was a bit of a rollercoaster ride.

Jenna Lea Rosen takes the lead role and scores comedically with her initially wide-eyed approach to Fanny’s personal and professional challenges. Armed with a feisty “New Yawk” accent, the actress easily takes charge of backstage, front stage and offstage scenes. Her vocals are compelling on both comic numbers (“Sadie, Sadie” and “Rat-Tat-Tat-Tat”) and in more intimate moments (“People” and “Don’t Rain On My Parade”). Advertisement

Douglas Raymond Williams plays Fanny’s handsome rogue of a love interest who brings her to a fuller life but fails her in the end. His opera-trained vocals alongside Rosen (“I Want to be Seen With You” and “You are Woman, I am Man”) establish both the heat and uncertainties within their relationship.

Among the many standout secondary actors and choristers, Tyler Johnson-Campion is a tap-dancing whiz. His work with Sue Cella, who plays Fanny’s mom, is a treat on “Who Taught Her Everything.” Cella also has some fun moments squabbling with a competitive friend played by Maine State favorite Charis Leos.

Tommy Betz shines as a Tenor and David Girolmo returns to the Pickard stage as the stern but supportive Mr. Ziegfeld. Jeremiah Valentino Porter gets to toot a hot horn on “Cornet Man.”

The Maine State Music Theatre Orchestra, led by Jason Wetzel, mixes up the period flavors with a newer Broadway expansiveness. The costumes designed by J. Theresa Bush and scenic design by Jeffrey D. Kmiec take the audience back to a distant era when musical theater and its early stars were on the rise.

Steve Feeney is a freelance writer who lives in Portland.

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